As you know I tried to catch insane short using the using the chain reaction of the 4h –> 12h –> 1D timeframes divergences. Now I am still in position, 4h and 12h timeframes divergences have been already confirmed, but not the 1D.
On the 1D timeframe BTCUSDT chart of the WhiteBit exchange we can see that the MACD histogram divergence still have not been confirmed. Thus, now there is a high probability on the new higher high, in this case the 4h chart again shows us divergence which can lead to 1D divergence finally.
Globally, the price is staying next to Fibonacci golden pocket of the last downside impulse. In conjunction with the divergence it the super bearish signal with the potential target at $15k (Zone 27). If you are risk averse – wait for the first decreasing column on MACD histogram (Alexander Elder’s strategy). Be patient, bearish trend will end soon, but the bull market cannot start with such zigzags as we can see on the chart. I know a lot of traders now compare the 2018 bottom with the current, but they are completely different. I will make a comparison for you next time.
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