Two days ago I told you that I am waiting for local final dump to form my favorite reversal pattern. First of all I want to tell you that you can troll and hate me, it’s absolutely useless and I understand it. Why? Because if you are waiting for the trend reverse (or bounce) after such huge dump everybody will hate you. It’s absolutely normal, according to the highest value of realized loss, most of traders sold all their crypto in loss and want to buy at $12k (or even $5k). Such bearish mood usually appears next to the bottom. The Bitcoin can fluctuates next to the current price levels and all this period I expect a lot of hating comments. It’s absolutely OK, guys, I understand your emotions. Here I just show you my actions with the Bitcoin and don’t force you to copy my deals. Let’s go to analysis.
On the 4h timeframe BTCUSDT chart on KuCoin exchange we can see the expected lower low and the potential bullish divergence. I am waiting for the first increasing column on the MACD histogram to buy Bitcoin with the tight stop loss. The wave 5 is about to end and at least A-B-C correction is anticipated.
Now let’s take a look at the chart below on the 1D timeframe. The last downside impulse’s final target is almost reached. The upside impulse now can start. At the Big Guy indicator which shows the purchases of the large players. There were huge purchases last month, they usually buy any asset when everybody are scared. I also almost accumulated my position, the last part of position I will buy after the long signal confirmation. Also let’s take a look at the BTC mood histogram. There was the fear, which was changed to the extreme fear, and last several days the histogram’s color became gray – it means depression. Most of traders are disappointed by the crypto and I see it everyday. Depression is the best point to buy.