Bitcoin – my favorite pattern!

Hello, everyone!

Two days I was abscent on TradingView because the Bitcoin price is following my analysis with the insane accuracy. Today as I can see the price can demonstrate a small pump before the dump continuation, but the most important is that I expect the price pattern which I have seen multiple times.

Let’s take a look at the 1h timeframe BTCUSDT chart of the WhiteBit exchange. I warned you just before dump at $22500 because of extremely strong bearish divergence with the Relative Strength Index (RSI). After that we saw this dump and I observed how the price approached the Fibonacci golden pocket. It broke it down like nothing and consolidating just below it. It’s the bearish sign and we will see the new dump with 95% probability, but first of all the bull trap incoming.

The price is forming the the double bullish divergence with the RSI – it is the local bullish sign. I expect to see the illusion of the true return back above 0.618 fibonacci to create the bull trap before the new pull to the downside. Let’s see what happens. Anyway I have already bought a little bit more different altcoins on this dump because believe that the overall dump will be finished soon.

Best regards, Ivan

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