Hello, everyone!

The Bitcoin formed the clear bull trap and dupped below $40k again. I am now in a small loss and think that the price will hit my stop loss.

In our portfolio management system we accumulated only 50% of potential positions. That’s why I anticipate another one dump before the significant bounce to the upside. The current bull trap allows me to understand that we will see the true trendline touch and I am waiting for this to execute the long trade. This is the level of $37k – here we can also see the liquidity zone because a lot of traders put their stop losses there. When a lot of stop losses triggers this is the best time to buy BTC .

If we build the potential Fibonacci retracement for the downside impulse, the Fibonacci golden pocket will be the nice exit long and entry short point. Let’s just wait!

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.