Bitcoin is staying at the same level for several days and the market is boring despite the FOMC meeting and Powell’s speech. I told you many times that the insane long can be flashed very soon.
Let’s take a look at the 4h timeframe of the BTCUSDT chart of the WhiteBit exchange. The price touched the demand zone multiple times and this support become weaker every time. The breakdown is imminent, but it could lead to the insane long signal. Look at the MACD histogram. It have already showed us two long signals, but I want to see this signal below the $17600 – the previous global low. The confirmed divergence on 4h at this level can lead to the divergence on the 1D and 1W timeframe. 1W divergence is almost 100% reversal signal. I think we have to wait a little bit more to receive our entry point.
Best regards, Ivan
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