Bitcoin – bullish breakout!

04.05.2022 3:24 pm

Hello, everyone!

Yesterday I was concerned about potential breakdown to the downside below $37k, but the BTC confirmed the strong bullish signal, that’s why I re-entered position at the same price as the previous time.

The Bitcoin formed the strongest divergence with the MACD histogram and MACD line. Moreover I missed the fact that the true countertrend line 2 was broken to the upside earlier. Yesterday we saw it’s retest and the bounce. How to draw countertrend line? We should mark the high at the trend start and the next local high, connect them with the line. We saw the same situation earlier: the Bitcoin price formed the countertrend line 1, formed the fake out, formed the true breakout and retest before the pump. The same situation is going to happen with the countertrend line 2. I am waiting for the pump to Fibonacci golden pocket at $43-44k.

Good luck!

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