Bitcoin will bounce after a squeeze

Hello, Community!

I hope you remember our last BTC analysis where we told about the bear market continuation. It's so important because we should understand in which direction to trade. Global time frame analysis allows short term traders to chose the sniper entries at the local one. As we mentioned before now Bitcoin is printing the wave 1 in wave 5 of the bear market. Now the subvave 3 inside wave 1 is happening. Using this assumption we can understand what is gonna happen.

Let's look at the 3h time frame BTCUSD price chart. Awesome oscillator gave us the knowledge where is the wave 3 bottom. It's done because AO histogram has almost crossed the zero line. Thefore we should be ready for the reversal after slight lower low in wave 5. Then we expect the ABC correction which should be ended at $27500 inside the 0.38-0.5 Fibonacci retracement area. Insane short opportunity is gonna be there in case of bearish reversla bar forming.

Best regards, Skyrex team
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