Bitcoin – local correction before pump?

11.02.2022 11:00 am

Hello, everyone!

Yesterday I told you that the possible scenario for the Bitcoin is the new higher high on the 4h and the correction beginning because of the true bearish divergence on the 4h. I sold my BTC at the $44500 anticipating this correction. It looks like it began.

What is the target for this correction? If we look at the previous trend reverse in July 2021 the price broke through the 26 EMA and the first correction was to 0.38 Fib level and to this 26 EMA. This time I want to see the same. It will be healthy uptrend. Thus I want to re-enter the position at the $40500 – $41200. Can we see the pump from the current price ? Of course! But I want not to lose more than earn, this is the key principle of trading!

Good luck!

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