Hello, everyone!
I have been talking to you for several days about the potential insane short on 4h which will cause short on 4h, which will cause the short setup on 1D.
Today on the 4h timeframe BTCUSDT chart of the WhiteBit exchange we can see that the insane short setup have been flashed. I entered short on the first decreasing MACD histogram column according to confirmed true bearish divergence. My entry price ~$24400. As you know I am waiting for the last wave to the downside and want to take this move. The price demonstrated the fake out above the support level. Moreover the price formed divergence and at the same time was unable to reach the trendline resistance. For me it is the sign of weakness. This weakness also can be noticed according to decreasing volume during uptrend. It means that buyers have not enough strength to push price higher.
I plan to sit into short position and when the price will reach the support trendline I am goind to make a decision about further position holding.
Good luck!
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