2 min

Bitcoin – warning! The bounce is possible

As you know I am in short position and I am sure that the new impulsive wave to the downside has been already started, but local picture told us that we can catch the pretty nice scalp long trade.

Hello, everyone!

As you know I am in short position and I am sure that the new impulsive wave to the downside has been already started, but local picture told us that we can catch the pretty nice scalp long trade.

Let’s take a look at the 1h timeframe of the BTCUSDT chart of the WhiteBit exchange. I decided to consider the waves 1 and 2 as it is shown of the chart. In this case the wave 3 reached exactly 1.61 Fibonacci retracement level – the natural target. Awesome oscillator minimum value also confirmed my idea that wave 3 has been finished. Oscillator has also crossed the zero line which is the minimal requirement for the wave 4 end. It means the we have to catch the wave 5 bottom to trade the potential bounce.

Let’s wait for the divergence and the bullish reversal bar to enter the long trade. Watch out my updates I will tell you when I am going to execute this trade.

Best regards, Ivan

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