Bitcoin – local pump have not been cancelled!

2022년 10월 10일

Hello, everyone!

Yesterday I promised you the small pump but the market showed us another leg down. It was my mistake and I read once again one chapter from the Trading Chaos book and found the moment where I was wrong.

Let’s take a look at the 1h timeframe BTCUSDT chart of the WhiteBit exchange. Yesterday I thought that the Bitcoin finished the wave 5 and the ABC correction is going to happen, but it was the wave 4 represented as the flat correction. Now I am sure that the correction started before the minimal condition for wave 4 – the zero line crossover on the Awesome oscillator was completed. After the the price showed another one leg down which in conjunction with the divergence can tell us that the wave 5 was finished. The target for the pump is the same – Fibonacci golden pocket ($19800-$19900). There could be the nice short entry point to catch the most impulsive downward movement.

Best regards, Ivan