Bitcoin – what are the targets for dump?

22.04.2022 11:01 pm

Hello, everyone!

Yesterday I told you that I don’t like the rejection from 0.38 Fibonacci level with two short squeezes. It means that the liquidity from the short positions was collected. I expected Fibonacci golden pocket and broken trendline 1 retest before dump, but closed the rest of long position because felt that the dump is almost guaranteed.

The downtrend in the 1D chart continue and if we take a look at the Fibonacci, 0.381 level is the minimum correction level and if we see the dump from this level it means that the bears are strong. There is high probability that the Fibonacci zine 27 will be reached by BTC, it’s approximately $36k, moreover the trendline 2 is located also here. If we will see again the bullish reversal setup we buy Bitcoin there. In case of trendline 2 breakdown the final target for the current Fibonacci is $32k. Here is also located the huge liquidity area because the previous significant lowest low was at $33k. Let’s see.

Good luck!

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