Bitcoin – fake pump?

17.03.2022 1:32 pm

Hello, everyone!

The Bitcoin price yesterday decided to pump again, but is this pump can start the new huge uptrend? I think not! Why?

We can see that the price broke through the important resistance trendline. It means that everybody now believe that the bear market can be finished now. But the price stopped slightly above the broken resistance. I suppose it can be the fake out. I think that we can see $43k for BTC next couple of days and it would be the nice opportunity to short the market, but now there are no any signals. The price also tested the Fibonacci golden pocket again and we can se the first reaction to this level, the bull haven’t enough strength to break this level with the impulse. As a result my scenario with the price drop to Fibonacci zone 27 is still actual, I will buy the BTC there in case of long signal appearance.

Good luck!

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