Bitcoin – whales are fooling us!

02.05.2022 8:00 pm

Hello, everyone!

Yesterday I opened long position for BTC at $38k. It is very exciting to hold the position in such critical point, that’s why today I found evidences that we can expect a least the bounce to the upside. Let’s start!

Let’s consider the 1D timeframe on the Bitcoin price chart. Here we can obtain significant signals. First of all we can notice that the price touched the trendline and is bouncing off it. I don’t want to see it’s breakdown while holding long position. While the price is approaching this trendline it formed rather strong bullish divergence with RSI, it means that this support level have the high probability to be held.

Moreover I forgot about Pifagor’s indicators which were used successfully in my previous global trades. If we take a look at Big Guy indicator which shows us the large purchases of institutional investors, we can find that whales bought a huge volume of BTC next to trendline. We saw the same signal in January 2022, when I executed the large long trade. This indication corresponds with the large volume traded at these days. I suppose that there are enough evidences to consider a reversal trade.

The price target was not changed. The countertrend line is the final target of this potential upside move. If we will see it’s breakout, the new bull run can start earlier than I told you every time.

Good luck!

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