Yesterday I told you that the bear market will end soon, but I decided to invest first 10% of capital in Bitcoin. You know me as a trader, but at the potential bottom of the bear market I want to fill my bag with Bitcoins and the trade altcoins to BTC.
Why I decided to buy BTC now? I suppose that form current prices could be the trend reverse or at least a huge bounce. Let’s take a look at the Pifagor’s indicators on the 3D timeframe of the WhiteBit exchange. The big guy indicator shows us that the whales bought the huge amount of Bitcoins, which has never been bought since COVID dump in March 2020. Moreover the MFI flashed the strongest long signal.
The classical indicator – MACD shows us also the potential bullish divergence. Moreover the price now is next to the global trendline. C1 – is the countertrend line 1 which was broken, now the BTC is retesting it. Thus, we can conclude that the pump is more likely to see than dump from the current prices. If the price breaks the C2 – countertrend line 2 the bull run can start even earlier than I suppose now.
Good luck!
DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market. If you decided to follow the idea in this article, please restrict your risk to 0.5%-1% of your entire deposit.
I'm going to personally wait until the Hash Ribbon indicator is in capitulation mode. If my theory is right, the price will fall even more on friday again, if not it's fine I'll still wait until it hits around 28000 to 26000 to slowly DCA