There are a lot of fear on the all markets: traditional and crypto. I heard a lot of opinions that the Bitcoin is going to crash to $20k very soon. It looks like that most of traders capitulated and now wanted the price to go lower to buy. But this is how the market takes our money. Yesterday I told you that it is not the time to wait for the crash. On the 1h timeframe the BTC formed the bullish divergence with the RSI exactly as I predicted and pushed tp the upside again! I am still holding my long trade because I suppose that it can pump much harder.
The Fibonacci zone 27 was the strong support today before this pump. Divergence and zone 27 in conjunction give us the almost guaranteed bounce. Despite such good beginning of my signal realization the Bitcoin is approaching to the strong resistance levels. First of all it should break through the Fibonacci golden pocket. The price successfully tested this level twice and got a rejections, now we can see an increasing buying volume just below this resistance – it increases the probability of the breakout.
The next strong resistance is the monthly S2 line which marked with the red color. If we will see it’s breakout my target $35k is almost guaranteed.