Hello, everyone!

Yesterday we considered that globally the Bitcoin is ready for the significant bounce to the upside. We can see the test of the current low, but I am not waiting for the huge crash. There are a lot of short positions on the cryptomarket and the Fear&Greed index is at the extremely low value, thus it’s logically to create the bull trap before the new dump.

Taking into account the global analysis on the local timeframe we can search for the bullish signals. I am still in long position, but may be I will increase this position soon. The price broke the trendline 1 to the upside, retested it and now it looks like the BTC is going to form the second retest. The Fibonacci golden pocket is also considered as the strong support. The RSI on the 1h form the bullish divergence if the price will drop to 0.61 Fibonacci level. Let’s see the reaction to this price level to make a decision.

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.