Yesterday I told you about the bull trap creation. I expected a little bit higher prices before the dump, but it does not matter because I did not execute any trades.
Today we are seeing the very important breakdown of the demand line. Yesterday we saw some bullish reaction off it, but it was minor. Now the price is trying to return back above the line and if it is able to do it it could be the false breakdown, but now I think that it’s probability is small.
We also can notice the demand zone below, if the price will touch it we also can see the reaction. This zone is more appropriate for the long trades. But now I am waiting for the most preferable scenario for me with the clear entry point. I want to see lower low and the forming the true bullish divergence with MACD on the daily chart. The potential target in this case at least $26k.
Of course this dump could not happen. For this non-preferable scenario I am still holding 20% of deposit in Bitcoin. This is the market and it is not obligatory give us the nice entry point.