Hello, everyone!

I told yesterday that waiting for another one dump to $37k before the significant bounce. The price pumped to $40500 and a lot of traders suppose that it is the bullish move start.

If we take a look at 1h timeframe Fibonacci we can see that the price have not even break through the Fibonacci golden pocket. Moreover the BTC is forming very dangerous price action just under it. This price pattern which looks like “hat” usually leads to the another one rapid squeeze to 0.61 Fibonacci with the bearish divergence with the MACD .

I suppose that the Bitcoin price is next to the level where we can open short position. The target is Zone 27 = $37000.

Good luck!

DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.