There are billions of dollars in Bitcoin Short positions that will be getting Liquidated if we see one final push Towards the upside but while this is Happening we're seeing extremely bearish News hit the market that the US will Probably sell another $130 million US Dollars worth of bitcoin they Sease from The Silk Roads and every single day We're seeing an approximately 150 Billion US do flow out out of the Bitcoin spul ETF so I will be talking About this and many more important Charts that are going to tell us Something about where Bitcoin is heading Towards next on today's update video so Without any further Ado don't forget to Slap that like button back above 800 Likes on today's update video that will Be absolutely incredible and with that Being said let me jump straight away in Towards the content and first of all Once looking at Bitcoin on that imminent Short term we can currently still see That we're still consolidating in this Very important range I've been talking About on yesterday's video and basically Have been talking about for quite a While right now here so the range I've Talk about is that this previous big Support level here also is currently Significantly flipped into resistance And the moment Bitcoin breaks above this Red box of resistance that is the point

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Where I think a bigger recovery will be Happening for Bitcoin but once Bitcoin Is going to be either breaking below the Upward sloping support line we're Looking at right here or either Potentially below that horizontal Support level that I will be mainly Approaching right now here because this Horizontal support level has provided Bitcoin some very significant support For already four times in a row right Now I think that if we break below this Level right here on the lower side that Will be the point where we could start To see maybe potentially another move Towards the downside getting generated And what are my price targets I think if Bitcoin creates another move down here It's going to be taking out that Liquidity on the lower side and going to Be bottoming somewhere around 38.7 to 38.3k so that is what I will be Expecting if Bitcoin is going to be Having a break down and if it does Decide to be breaking above resistance My price taret Market is around $42,000 and my Bitcoin trade that I Currently have open and also for this Bitcoin trade I currently have opened That is currently making me about $2,000 In profit I am planning to take a Significant take profit around $42,000 And then I will be making an Approximately $18,000 in profit so make

Sure to subscribe to the channel if you Want to be staying up to dat about this Trade whenever I will be exiting it or Whenever I will be taking profit out of This trade so first of all I quickly Want to be saying that yesterday we saw Another 429 million ion US dollar Outflow out of the grco Bitcoin trust This is significantly less than before But we also saw significantly less Inflows to the ice shares and vitality Spot ETFs so yeah this is definitely Something to be paying attention towards But overall we saw an outflow of 158 Million us and then overall we saw an Approximately $18 million us flowing out Of all the Bitcoin sport ETFs so it's Significantly less than yesterday and Yeah I mean we only saw 150 million doll Outflow and yesterday also us felt Notice to sell $1 130 million us do Worth of bitcoin they ceased from the Silk Road so this is actually quite Interesting the negativity in the market Has never been bigger honestly I have Not seen such a big amount of bearish News come out in such a short period of Time but right now it is indeed Happening and we can see that actually Bitcoin is holding up just fine just Fine after all this news hit the market So Bitcoin is doing such a strong job Consolidating around that $40,000 level And honestly at one point the gray skill

Fund will also run out of sell pressure And at that point we will be starting to See that recovery for Bitcoin and where That recovery will be going towards is Still the question but in my opinion I Still think that we're going to see a Small bounce back towards the upside to $42,000 and then potentially another Move towards the downside or then Potentially even a bigger push towards The upside but of course for me to say What is going to be happening after that Push towards the upside I just need to Det determine what the price action is Looking at and how the macro perspective Is looking for Bitcoin right so one Thing that is just actually making Myself very bullish right now here is That the fact that indeed we are getting All this bearish news here but a lot of Bitcoin Traders they are all shorting Bitcoin and the bearish news it just Can't get enough of it and we can see That there is a massive amount of Bitcoin short liquidity laying above us So if Bitcoin pushes ever so slightly Towards the upside about $2,000 higher We will be seeing billions in dollars of Bitcoin short positions getting Liquidated and that would push the price Even higher and then of course Potentially these guys at gray scale Could sell more Bitcoin so honestly I Think it makes sense that we're going to

See a small little push towards the Upside to liquidate all these Bitcoin Shorters out of the market and then We're going to be having another Potential move towards the downside and At the same time we can currently see That the funding rate is actually Turning negative you can see it here Across on coin glass but you can also See it here on bit here on the top side We're having negative fending rate I Mean you can currently see it it was Just a moment ago negative but it just Got reset 7 minutes ago and it's Currently sitting around 0.0 this so it Means that it is actually negative Because it's below 0.01 so funding rate is of course Changing quite a lot here but you have To understand that this is so important To be paying attention towards and Especially since all the liquidity is Currently piling up above us I think it Makes a lot of sense that we're first Going to be seeing a flush out towards The upside before potentially going Lower and that is why I'm currently Betting with my Bitcoin long position That we are going to see that squeeze Towards the upside and my takeprofit Targets are going to sit around 41.8k to $442,000 so that is my target currently At the moment and I mean I mean if we're Looking back if you've been subscribed

To the channel I literally turned Bearish here on the top side I said that We're going to go down to $38,000 I said we were going to go down To $39,000 us and people thought oh you Are crazy but all the way down here I Said it all the way down I said it as Well over here we're going lower we're Going lower and finally we hit it and Right now I'm turning bullish I'm Thinking that we're going to be getting That final push towards the upside Before potentially going lower or before The next move is going to be happening And now once again people are doubting Me again here but of course I do Understand maybe I am potentially wrong And we're going to see another move Towards the downside but at least I Catch this entire wave towards the Downside but I just think that this is Going to be the next move if my analysis Is going to be playing out here so that Is what I'm currently expecting if I'm Looking at the four early time frame we Finally broke above the down resist line I mean it was a matter of time since This downward sloping resist line I mean It needs to be pushing Bitcoin lower or We just need to go sideways and Consolidate right so we broke the Downward sloping resistance line and I Mean looking at the daily time frame for Bitcoin we're still holding on towards

That 39.7k support level and I mean so Far you can see the more than five daily Candles have already be bouncing from This level so yeah we're still holding On towards it it's looking quite okay Here but guys if you want to be trading Bitcoin just like me make sure to go to The link description of today's video Because on today's link description of The video you can currently claim a free $1,000 trade and this deposit bonus will Be ending in 5 days from now on so make Sure to be quick all you need to do is Go to the link description sign up an Account complete KC level one and only Deposit $100 in your first seven days And you could claim a free $1,000 trade So you can claim a free $1,000 us trade For only depositing $100 and this will Be ending in five days and it can Guarantee you this deposit bonus will Never come back again here because it's Not going to be feasible for buyit they Told me so make sure to benefit from it Right now it's the last 5 days here you Could be claiming this insane deposit Bonus here on buyit before clicking away The video guys I've got a very important Chart prepared for you guys out there Where I think Bitcoin is going to head Towards in the coming weeks so make sure To not leave this video right now but Before discussing that chart guide guys I mean currently Bitcoin is dipping

Below the daily eay ribbon we're about To be having that bearish crossover and Honestly if I'm looking at Bitcoin right Now here we could potentially go a Little bit lower right I mean we got Rejected from the $488,000 but where is is the next big Support the next big support is sitting Around 35 to 36 78,000 us so that is the Big support I'm currently looking at B Could go lower but I don't think that This is the time to be worrying about The longer perspective why is because Currently we're just days out before That next Bitcoin Hing is going to be There right and like we have seen in the Past every single time the Bitcoin Hing Happens we tend to see a small little Push up towards that Bitcoin Hing and After that we tend to see a big Correction and then the big bull run Starts here so let me go back towards The history so on the first Bitcoin Hing Big pushup consolidate Bull Run and then In the second Hing we saw big push-up Before the Hing correction Bull Run and Then in the third Hing we saw big pushup Correction Bull Run and what will be Happening this time around I think we're Going to see something similar so Correction right here big run up Correction Bull Run that is what I'm Expecting again just like we saw in the P so I don't think that this is the time

To be worrying about Bitcoin at all here I mean I understand that you are afraid About what currently is happening with All these companies selling off Bitcoin With gray skills selling off Bitcoin With what is it the the US selling of Their Bitcoin but I don't believe that This is the right time to be panicking Right now here just moments before the Next Bitcoin Hing is going to be here Bitcoin will even become more scarce It's going to be even harder to obtain One inside your Bitcoin so make sure to Be quick because your time is running Out right now so this was my final Message I think we're going to be Potentially seeing a smaller or bigger Correction towards the downside but Eventually we're going to see that run Up towards the Bitcoin Hing and then a Correction and then the big bull run Starts just like it has played out in The last three times for Bitcoin as well And I mean so far we've been absolutely Spoed on what is going to be happening And on the bigger perspective if you Don't want to exactly anticipate what is Going to be happening tomorrow or the Day after make sure to just anticipate The next Bull Run that is currently days Or even weeks out here for Bitcoin so What I'm currently doing is just Preparing my backs buying the right Altcoins buying enough Bitcoin buying

Enough ethereum to get ready for the Next that next big move for the market So make sure that you have your own Strategy I have got my own strategy in Place I am trading Bitcoin I'm Accumulating Bitcoin so yeah with that Being said guys thanks so much for Watching and I'll see you guys on the Next one peace out goodbye

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