Hello, everyone!
I prepared to short the market, but today’s pump broke the potential bearish divergence on the 4h timeframe, that’s why I did not executed short this time. The BTC price broke the resistance and thus I suppose that the road to $52000 is unlocked.
There are still a lot of shorts on the market, but the Fear & Greed index became “Greed”. That’s why this pump will have the restricted upside potential, but $49-51k range is almost guaranteed now. The Bitcoin is still in wave 4, which is the longest wave, but this wave’s formation changed. I supposed it’s going to be the triangle wave, but it is the A-B-C fleet correction wave. The maximum target is $52k (0.618 Fibonacci level) the downside target is still the same and equals $26k (zone 27 Fibonacci). Here is also the potential bearish divergence with MACD on the 1D timeframe, be very careful with long positions.
Good luck!
