Welcome back to this new video here on My channel and on today's video I'm here Joined by crypto kid and we will be Discussing some breaking news because The US decided to not appeal the core Decision of the grayscale Bitcoin ETF so Crypto kid what do you think about it Dude this is so annoying I mean look It's going to be approved at some point It's it just seems like they're delaying The inevitable from happening so um Maybe today it's not approved but one Day it will and right now looks like a Very nice opportunity to be steing in And taking advantage of this which is Going to come hopefully in January I'm Thinking so this is the next tweet I Want to discuss because the S has Literally got no grounds anymore to Reject any Bitcoin spot ETF since they Didn't appeal to the Grays skill spot ETF so it's literally a matter of time Till it gets accepted and I mean we know The final deadline of the arc investment Spot ETF is on the 10th of J the 11th of January and what do you think about that So when are we going to get the first Bitcoin SP ETF look I mean you had a Very interesting theory of it either Being being approved in December before The holidays or in January so I really Do think it's going to be very early 2024 or the very ending of 2023 although I really feel like it's going to be

I show You how To Make Huge Profits In A Short Time With Cryptos! I show You how To Make Huge Profits In A Short Time With Cryptos! Welcome to the Future of Money

January so when these ETFs do get do Happen uh I think we're going to have a Very big inflow of of liquidity into Bitcoin which in the imminent short term Could cause a pump up to 36k which we Can discuss uh later on in the video but Um I'm not too hopeful in the midterm Which you know we'll talk about I mean It's pretty interesting so this news hit The market and Bitcoin didn't move Anything I mean it did moved a little Bit towards the upside we can actually See right now on the imminent shortterm We got this small little down sling Resistance line and we've got this Horizontal resistance line right here so This is the resistance that I'm looking At on the imminent short term but Actually Bitcoin it is creating creating Right now a small little upward sloping Trend here potentially squeezing the Price action in towards an apex anytime Soon but still after this news hit the Market we didn't saw any big moves yet So far so um how do you explain this why Is the market not moving I mean honestly Yesterday I saw an article on um from Coindesk and coinbase apparently said That um they think that the market has Priced in the ETF already not completely But partially priced in the ETF I mean Is this possible I think so because if We didn't have the ETF news which has Been going on for many many months now I

Think Bitcoin could have been at 17 18 19k at the moment and not at 26k so do I Think it's partially priced in yes will We see a move when these get accepted For sure because even Black Rock when Their ETF got accepted for gold gold Being the massive mature asset it is Gold went up in price by a drastic Amount so when the Black Rock ETF and The all of the other ETFs get approved I Do think we will get a spike probably to 36k and then from then that point Onwards it's going to be really a hit or Miss uh let's see I do think we could See a little bit of a dump back towards The downside but after the hving one Year after the Hing bull market should Be in I mean yeah makes sense and of Course I think after the ETFs gets Approved there I mean the these ETF Companies they're going to buy actual Bitcoin to have uh have them backed by By them by their ETF so it makes sense That Bitcoin will really start moving Once it really gets accepted so on the 4ly time frame I mean I've been Discussing this for many times before on My channel this has been the clear most Important previous resistance currently Flipping into support and if we really Break below this level because Bitcoin Is showing some weakness and usually the Biggest sign that Bitcoin is weak is That actually if bullish news comes out

Bitcoin doesn't moves up it is actually One of the most bearish signals out There in the market and that's literally What is happening right now so if we Potentially break below this level of 26.6k my next realistic Target is going To be $225,000 of course many people Don't want to hear it but you have to Understand the most amount of liquidity Lays around the $25,000 us so what does The market makers want to do they want To be bringing down the price towards That level because they can make the Most amount of money around this level Since the most amount of volume is Straight R this range and they can just Play with you what do you think about That I mean I've been telling my Audience also that the 25.2k level could Be very possible for Bitcoin um I mean On The Daily time frame if I just take Over your chart for a second uh we could Be seeing a small head and shoulders Pattern over here that could break us Down to the 20 um 5.2k and again it's a very very big Level of support for Bitcoin we have Multiple tests over here like it's just Happened many many times and as you said There's a lot of liquidity at this Particular level um the only thing that I'm worried about is how parallel Channels work or any channel in part Like it's just in ta it's a bit annoying

Because it's like crackers the support And resistance line whenever price Touches either the support or resistance It becomes weaker and right now we've Already tested the halfway line of this Parallel Channel and we're showing Despair in the market usually if we Don't make make it back up to the level Of resistance and kind of fail halfway This is called the spare and once we Retest the support the support will Actually be very very weak like a Cracker and then the cracker cracks Because there's too much pressure on it So if we retest 25.2k I really don't Want us to be trading uh further below There is a moving average that we could Show that could suggest this could Happen uh but this would just be very Very worth you show it right now so uh It's on Which choice this one this one Right here exactly right so so basically This is the weekly chart for Bitcoin and These two moving averages are the 30 and The Seven period smas now this builds up Along with the 3 period SMA uh a trading System called consensio and if you look Over here uh we tested the 30 period Moving average actually this is the Seven period I think this is the seven Period moving average we've tested it And we saw a massive decline uh I think This around of 58% decline that we saw And look what has happened just two

Weeks ago we've tested this moving Average once again um and uh am I saying We're going to see a 58% decline no but It is very possible at least to this Support potentially at 24 24.2k 23.7k this is very much possible and Another bearish indicator is that this Candle this hanging man candle is the Exact same one that we saw right over There too so oh my gosh it's just very Super similar I mean this this daily Time frame looks so similar towards each Other only the good thing here is that Right now we've got the support from the Green moving But this structure looks like similar It's like A then quickly back towards this because I also saw some interesting things right Because remember the structure that you See right here we created a high another High and then a lower high so Potentially you could call in hand a Shoulders pattern but we've seen this Pattern many times before right so we've Saw it over here as well boom we created High another high and then a lower high And then we dump right so we're not Creating an exact M pattern but we're Creating somewhat of an M pattern here And breakdown and we've seen it many Times before we saw it also over here we Broke down and we're once again seeing It right here on a larger scale so I

Mean if you're looking at the volume if You're looking at the volatility in General you can clearly see Bitcoin for The last what is it 200 days has been Trading in a range of just $6,000 and of Course $6,000 maybe sounds like a lot But for Bitcoin it isn't really bro this Has been the most boring time it's been Very boring and I mean what I really Look at is at this range right here I Think this is super important to be Looking at these are basically all the Important highs and lows on The Daily Time frame turned out and you can Clearly see this on the top side is the Range that I'm looking at and on the Lower Side we've got a range and this is The middle range right so we've been Falling out of the middle range actually Back towards this very important level Of support we're still in fact creating An uptrend but if we break this level Just like I said on that for early time Frame so if we break this level it's the Same level like this green level right Here I mean we could really move down to $25,000 maybe 24.8 and just like you Said as well I mean it looks super Similar on this chart as well so it Looks kind of dangerous so guys if you Are interested in trading don't forget To go to the link description of today's Video because you can right now claim an Insane deposit bonus worth $1,000 and

All you need to do is sign up an account Using that link below deposit $100 Within first coming seven days and you Have have to complete kyc level one and If you do that you can claim in free $1,000 aird drop position on bitcoin or On xrp you could claim a longer short Position for only depositing $1100 so That is an absolutely insane deposit Bonus uh I mean let me with more charts I mean we're so doing such an amazing Job discussing the market what do you Think about this amazing down sloping Resistance line because this is the Resistance line that basically got Bitcoin rejected every single time and You just talked about the crackers the More time your times you're going to Retest it we're going to break it and I Mean we've already retested it for four Times in a row so what is going to be Happening if we're going to test it next I mean um I think this 25,500 $25,200 level is so important That if Bitcoin does bounce from here And we go back up to retest it one more Time I think it's inevitable for us to See a break and this could coincide with The ETF approvals that happen in either December or January so once this happens Once there is Euphoria in the market and We retest back to the 27.5kg so that's what I think I mean of Course right now the liquidity Bitcoin

Is also pretty low so if we get one big Catalyst we're probably going to see Already a gigantic move here so you can See everything lining up here everything Is coming together this urber sloping Support line the down sloping support Line we've got an ETA of in Approximately 24 days right here over Here it's a little bit longer but at Least what we're expecting in the coming Four to six weeks maybe four to eight Weeks we're going to have a big big Breakout for Bitcoin right here and I Mean there are all different kinds of Approaches on this chart here you can See we're all looking at the same Downward sloping resistance line but Some other upper sloping support lines Are horizontal level so uh one thing is For sure is that this downward sloping Resistance line is a very significant One and once we break it we're going to Get some crazy volatility and I mean we Want to hear a prediction from you what Do you think 2025 what do you think About the market at that point and what Is your price prediction so this is what I would say look Bitcoin is in a log Mmic regressional channel and every Single bull market the Returns on Bitcoin decrease uh right and look I Think it could be 80 to 90k this could Be the top for uh this bull market here However if we do break into a super

Trend which would be fueled by Potentially the dollar collapsing um or You know Banks going into massive Trouble and people realizing that Bitcoin is a need rather than a want Right so if this happens and Bitcoin Finds Its true potential Within by the Time of 2025 then I do think this Regressional channel can be broken this Trend can be broken and Bitcoin can hit Highs of 100k 130k 150k this is very Much possible possible if we see massive Adoption all across the world then why Not quarter of a million dollars so it All depends if we just look ta Specifically then I think 80 to 90k is Possible however if we look at the Fundamentals and we see massive adoption Like we should then this could break This trend and we can enter into a Massive super trend for Bitcoin wow I Totally agree so guys this was it for Today's update video make sure to Subscribe to crypto kid it will be in The link description he's done an Amazing job and he's just 17 years old 16 oh my gosh I thought you were 17 oh My gosh I'm wrong 16 years old guys look At him look at how he talks and how how Much he knows it's crazy guys so thank You so much for watching towards amazing New update video I truly hope you did Learn something from it but anyways Thank you so much for watching and see

You guys on the next one I recognize This guy by the way oh wow see you guys On the next one peace out Goodbye I thought you were 17

You May Also Like