The Bitcoin formed the clear bull trap and dupped below $40k again. I am now in a small loss and think that the price will hit my stop loss.
In our portfolio management system we accumulated only 50% of potential positions. That’s why I anticipate another one dump before the significant bounce to the upside. The current bull trap allows me to understand that we will see the true trendline touch and I am waiting for this to execute the long trade. This is the level of $37k – here we can also see the liquidity zone because a lot of traders put their stop losses there. When a lot of stop losses triggers this is the best time to buy BTC.
If we build the potential Fibonacci retracement for the downside impulse, the Fibonacci golden pocket will be the nice exit long and entry short point. Let’s just wait!