Bitcoin – pump or dump?

Hi all!

I read a ton of hate yesterday for changing my mind about the market. I want to answer you! The market is alive and it is absolutely normal to change your forecast if necessary. Moreover, I only changed my mind locally because globally I am still bearish. Nothing has changed today. Another step forward is still possible, and we must look closely at the key level.

On the 4-hour time frame, Bitcoin price is now inside a Fibonacci gold pocket. Moreover, the trend line support is also close to the current level. From now on we have two potential scenarios. Green is a reset to our medium-term target of $17 thousand from current prices. I am ready for such a scenario and almost 90% of my deposit is in stablecoins. To confirm this scenario, we must see an impulse breakout on increased volume.

If we see decreasing volume and confirmation from the MACD divergence (the first rising column), this means that price has the potential to rise above the current local high and form another leg up to the resistance level. While Bitcoin is falling, I am steadily increasing the amount of crypto in my portfolio to reduce the emotional stress of the purchased scenarios.

Good luck!