Happy New Year! This is my first Bitcoin price analysis in 2022!
After my last analysis Bitcoin price started to perform very well but just before the New Year we saw the dump which scared a lot of traders. As you can see in my last analysis I set the stop loss at $45500 and was sure that the price hit it. But everything is ok and the market reversed in just $100 above my stop loss level. Fantastic! As a result my trade is still actual.
Those signal was caused buy the MACD true divergence on the 1h timeframe. As a result I set the conservative take profit at $48800 and you use this target, but I am going to place my take profit level above. The reason why is that this signal was enhanced. Tonight we saw the true bullish divergence on 4h an this divergence was also enhanced buy the MACD line. 1h timeframe is the weak signal if we use MACD divergence, but 4h is the strong signal is this case. So I set the new targets: $51000 and $53800, but partially I am going to take profit at $48800.
One thing scares me. The price now is next to and under the Central Pivot Range for January. If the price is not able to break through the $50000 we can see the dump to $39000.