Bitcoin – the bounce could be even stronger!

30.05.2022 12:22 am

Hello, everyone!

Today I found that the bounce which I am waiting for can be even stronger than I supposed. If we take a look at the BTC chart we can see that the trendline which was broken at $38k have not been even retested.

The weekly Fibonacci golden pocket is located exactly next to this trendline. The bullish divergence is also forming with the RSI on the 1D chart. This is a very strong combination of factors which give me the confidence that the Bitcoin price will grow next month. The Fear & Greed index is staying in the 8-14 range for 3 weeks. I don’t think that it’s logically to see the dump from current prices. In such cases the market creates the bull trap. Let’s imagine how much greed could be in the market if the price reach $39k again. It would be the nice point to make the crash to $20k – the potential bottom of the bear market.

Good luck!

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