Last couple of days the Bitcoin is pumping and any even non significant pump cause the bullish move. It is not the feature of the bear market end. People have to be disappointed in the market to reverse it. I know that I was multiple times unsuccessful using the Trading Chaos approach, but I believe that this complex methodology have the great potential. I am not going to give up until I become successful with this method.
Let’s take a look at the 1h timeframe BTCUSDT chart of the WhiteBit exchange. I consider that the price finished the wave 4 and now is going to form the wave 5 before the huge dump. Look at the relation between the price and the Williams Alligator indicator. During the wave 3 price usually creates higher highs and higher lows above the red line of Alligator. When the price broke down the red line it was the first feature of the wave 4. The second feature of the wave 4 is the zero level cross at the Awesome oscillator – we can see exactly this. The last one point is the target Fibonacci area – the golden pocket is the appropriate target. When we will see the higher high in conjunction with the bearish divergence it would be the nice short trade entry point to catch potential dump.
Best regards, Ivan
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