Bitcoin – short squeeze before dump?

Hello, everyone!

Yesterday I told you that the Wyckoff distribution is going to end soon, but today I suppose that we can wait for the significant correction to the upside before the final dump below $33k to hit the short traders stop losses and persuade long traders to enter the market.

Let’s take a look at the BTCUSDT chart of the WhiteBit crypto exchange. The price is almost reached the 1D trendline and the Fibonacci zone 27 of the last downside impulse. Here are too much key levels, as a result I expect bounce from $37k. I wanna see the long setup and may be open short-term long position. The potential bounce I anticipate to the Fibonacci golden pocket and countertrend line ($43k). The long setup for the long trade is the potential bullish divergence with the MACD histogram. Let’s see.

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.