Bitcoin – trendline breakdown!

11.04.2022 9:33 pm

Hello, everyone!

Two days ago I told you that changed my opinion about the price prediction. You can see two long signals according to MACD on 4h timeframe, but I ignored these signals because at $47000 BTC flashed the strong sell signal on the 1D timeframe, which has the 80% accuracy, while on the 4h the accuracy is only 30%.

I told you that we will see the trendline 1 breakdown with the first attempt without any bounce as I supposed earlier. Now the Bitcoin is dumping. Moreover BTC broke down the 0.618 Fibonacci level (golden pocket). This is the bearish signal. But the potential double divergence is forming on the MACD histogram. This is the clear sign of the potential bounce. I suppose that this bounce is not going to start the uptrend continuation, but we can see the trendline 1 test before the dump to the trendline 2.

Good luck!

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