Bitcoin – pump and crash after it!

Hi all!

Last time I pointed out two possible scenarios for the development of events. The first was a breakout on the demand line without any rebound. The second one crashes only after a pump. It seems that Bitcoin has chosen the second scenario.

On the 4-hour chart of BTCUSDT, we see that a true bullish divergence has already formed and it could become a trigger for the price to rise to $25,500, towards the supply line. Moreover, the price actually formed a local diamond pattern. To me this is a sign of bearish weakness. We need to see another support to make most traders greedy and liquidate all short positions.

In the case of the described pump, a super strong bearish divergence will be formed. After such discrepancies, a new markdown phase begins. And finally, I’m still waiting for 17 thousand dollars for Bitcoin.

Good luck!