$100M+ IN BITCOIN SHORTS JUST GOT CLOSED!!!! [prepare now]

Right now when approximately 100 million US dollars in Bitcoin shorts got closed Over the past three weeks and I will be Exactly discussed what this means for Bitcoin right now I will be going over All the important shards the things that Are going on in the name in the short Term of course the Bitcoin shorts what Is playing out over there and much much More on today's update video so don't Forget to slap up that line button on Today's updates video can we once again Smash it back above 300 likes that will Be absolutely incredible and with that Of being said let me jump straight away In towards the content and initially I Want to be looking at the image short Term for Bitcoin and currently we are Once again after we had that significant Dump towards the downside we were Covered all the way back up and Currently we can see that over the Course of the past three hourly candles We've been seeing a significant Rejection by this important horizontal Trend line the 16.8 K you can clearly See that this level is providing a lot Of resistance currently in the market And this is also the level that I will Be approaching is going to be the most Important level to become to break above If we do break Above This level yet Again I honestly expect it is going to Be likely to expect a small little

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Relief on this Market but like I said Yesterday as well here currently we're Still trading in a downtrend after we Confirmed a lower low after lower low After lower low and in order to confirm An uptrend we first have to be breaking Above the previous highs in the market What is currently somewhere around 17 000 and then also confirming higher low Structure and then we could be of course Look at a very good long trade position Once again here of course if we do break Above This level right here it's going To be a very good range to be Potentially open up a long on that Re-test right here however I'm currently Still taking it very slow for the Immature term and mainly how I'm trading The market currently is Swing trading I'm building up a swing trade position For Bitcoin to catch my trade of course On the four early time frame if I'm Looking at the email ribbon we still not Broke above it we're still getting Potentially rejected by it we're still Not training above it and that is of Course the key reason and why we're also Still trading in the downtrend we're Currently also are seeing a lower low Structure on the 400 time frame together With lower highs what also means that Currently the structure is not reversed Yet so far and as long as the structure Is not reversed we shouldn't be thinking

About necessarily big swings towards the Upside and currently we can see that We're approaching some resistance and Just like I said on the one hour time Frame that's seven sorry 16.8k is as Important on the four hour as one hour So that is definitely the Target that we Need to be breaking above right now if We do so then things are going to be Potentially looking very good for Bitcoin however if I am going to start And look at the Bitcoin shorts only Bitfinex exchange we can see that a lot Of shorts has been capitulating over the Course of the past three weeks here to Be exact over the past three weeks we've Been seeing in approximately 60 percent Of all these shorts that were active Here on bitcoin on the bitfinex exchange Have been capitulating in the market What means that people are not willing To shore Bitcoin anymore at this prices Walter is already 21 days ago they were Still willing to short Bitcoin so Significantly this is of course Definitely a sign of a bot information Because if I also put up the Bitcoin Price chart and let me quickly show you This correctly uh let me put this on an Area chart and let me zoom out a little Bit here basically always once the Bitcoin shorts are spiking so once a lot Of short orders are active it means that The price action is also getting

Suppressed significantly usually Bitcoin Is then trading at somewhat of a bottom In the market of course not necessarily The exact bottom but it is usually Indicating a bottom stick though also Right here this was once again a Short-term bottom right here a lot of Search for active and that was also the Point where we started to see that Short-term bottom getting formed I'm not Saying that we can't go lower after the Nodes only a short-term bottom that is Getting created also right here we Stabilize after this one as well right Here as well once the shirts got Capitulated we moved up right now as Well we're seeing the shores Capitulating and usually the event that Follows after that is of course an Increasement in price action and I'm Honestly also expecting that there's Even going to be a bigger capitulation On this shorting positions but initially I want to be pointing this out that this Is definitely a very good development That currently is playing out in the Market and that is also one of my many Reasons why I'm still building up this Swing trade position on bitcoin Currently I am not 1.8 x leverage long Anymore no because currently I am 1.7 Inches long I decided to de-leverage my Trade a little bit here uh just for Sakes also it will bring down my

Liquidation price and like I told Everyone before my channel already if Bitcoin is going to be moving down Towards levels of 12 to 14 000 I will be Double down my margin of this trade and Also along the way Dyna will dollar cost Average smallly further in towards the Straight so I get a very good average Entry price so yeah that is what I'm Currently focused on I'm building up up A swing trade position that could be a Legendary trade that is potentially Short a story longing the exact bear Market balloon for Bitcoin if you are Also interested in trading you could do So as well and buy bit and if you sign Up to any of these exchanges we're using The link in the description you will Also get an additional deposit bonus After initial deposit checking up also On bit get bitcat allows you to trade Oh Yeah from of the US without kyoc so if You're from the US and you want to trade Without kyc without VPN you can check Out bitcat right now and also for bit Get if you sign up using the link in the Description you'll get an additional Deposit bonus and on top of that the First two weeks are free for trading Freeze if you sign up using the link in The description furthermore looking at The price action of the Bitcoin chart Right here we can currently spot that Right now Bitcoin is getting rejected by

This major major daily resistance box Here and this was definitely one of the Most important levels to look at and I've said it several times before Probably we're not going to be breaking Above This level straight away at once And but if we do manage to be breaking Up in this level that is where the Bigger yeah reversal is going to come in The market we can potentially look at Somewhat of a rounding bottom currently I'm going to keep all my eyes on The Daily time frame are we going to confirm That lower loan the daily time frame Then I will definitely become very Bearish but as long as we're going to Confirm all the daily time frame at Least like you can see right here this Is a low in the market boom and after That we confirmed a higher low boom Right here and after that we confirmed Yet again and higher low so right on the Daily time frame in fact we're still Trading in an uptrend so that is Definitely a good thing to see here and We definitely have to wait patiently to See how this is going to be playing out But so far on The Daily time frame we've Not flipped bearish yet so far and that Is definitely a good thing here because On a daily time frame I don't know how Beautiful this payroll channel is here We could be still look at that Federal Channel right here right so that could

Be still a beautiful thing to play out Here however I'm not the biggest fan of The sparrow Channel right now but Clearly we're still training in a small Little uptrend on the daily time frame Of course I pointed this out yesterday As well but I still think this is an Extremely important chart to pay your Attention towards right now a lot lost Them around the Bitcoin bottom got Formed 12 months after we basically were In the cycle and also what is very Interesting that the Bitcoin bottom Occurred and approximately 456 days Before the whole thing and if we're Going to calculate where the whole thing Is going to be for number four it is Already 457 days from now on so yeah That that is definitely very interesting And of course I'm not saying that we Can't go lower anymore because just like The previous bear Market the bottom was Already formed but we still had another Price compression for one month and look At this that candle looks very similar Right now and these are the following Candles going to be exactly the same Like it was over here as well that's Going to be the big question so if we're Going to be having a similar market Movement we're going to be having Somewhere right like this here where We're going to be moving back up towards Levels around 40 to 50K by um this

Summer of 2023 and I also actually think That that is an actual uh a doable Target to be reaching here and yeah and Then of course an approximately cycle Four we uh yeah we will be sending new Ultimize by uh the end of 2024 but it's Also my time Horizon so I'm looking at This chart right now like this and I Honestly think that this is one of the Best buying opportunities we can see it From a history perspective we can see it Basically from every single perspective Of course the macro environment is an Unknown indicator and an unknown thing In the market right now here however if We look at the Bitcoin Cycles it is very Well one of the best times to be Accumulating your Bitcoin and that is Also I am currently doing so make sure To pay attention towards the market Right now weekly time frame for Bitcoin Also we're bouncing from this important Level of support we yet again touched it Actually uh oh we were just about to Touch it actually and we advance Roman You can also see it from the legendary Support line for Bitcoin yet again we Touched it and straight away after we Touched it we bands from it towards the Upside so that is beautiful to see four Or five more days for the weekly candle Still enough time for that one but still It's beautiful to see that the weekly Candles still holding up for Bitcoin

Then also looking at the S P 500 we've Been talking about this downtrend right Here how important how significant we Got rejected here and boom we got Another rejection right here and we Moved down afterwards and the S P 500 is Actually tanking way more than Bitcoin If we compare it a little bit here if we Put them uh on top of each other of Course Bitcoin tanks here due to the FCX Collapse but basically after we reached The low of the FDX collapse uh we are Right now still significantly up well The s p is almost forming a new low Already right so yeah Bitcoin compared To that is holding up quite well however We of course moved down right here while The s p moved up because of the S uh Because of the FTX Saga so yeah that is Definitely an unfortunate thing to see Here I truly hope that the s p could be Potentially bottom however 2023 is not Necessarily looking so good for the s p So we're hoping that Bitcoin is going to Detach from the s p because 2023 is Probably going to be a bad earnings year Or could be having a very bearish effect On the S P 500 however this was a it for Me on today's update video If you do Enjoy it don't forget to slap up that Like button right now and I see you guys Back tomorrow on another update video Where we'll be discussing the price Section discuss the things that are

Going on and hopefully we can spot some New very good trades here however today We yet again spot something very Interesting about this short so make Sure to pay attention right now here so Thank you so much for watching see you Guys on the next one subscribe to the Channel peace out goodbye

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