Last week I am telling you that now it is the time of manipulations on the Bitcoin. Let’s take a look at this candle with the long wick. For me it is obviously was the way to liquidate the margin positions of the short traders.
The wick if this candle hit exactly the 0.5 Fib of the last downside impulse. After that we saw the strong rejection. We have already seen the rejection from the Fibonacci golden pocket 3 days ago on BTC. The extreme volume confirms the strong selling pressure. I want to remind you that there are still no any signals, but I believe that the price is going to drop to $36k – here is the Zone 27 Fib extension – the first downside target. I suppose that here we can see the local trend reverse to the upside. If here will be the long signal I am going to buy BTC, now I am just waiting!