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Bitcoin is right now consolidating for The next move and right now we're Creating a new C Gap so I will be Discussing this the Bitcoin SP ttf flows The liquidation eat map the funding Rates and of course the most important Charts and data points where we need to Talk about right now so without any Further Ado don't forget to slap that Like button once again back above 800 Likes that will be absolutely incredible And with that of being said let me jump Straight away in towards the content so First of all finally we can start to see What of the next Bitcoin is getting Created and currently it looks to be That we're creating an upward sloping Support line here from of the Symmetrical triangle and we are creating This downward sloping resistance line Here from the top side and basically Bitcoin is about to be having another Breakout anytime soon here and once it Does break out here it's either going to Be seeing that continuation towards the Upside or either that continuation Towards the downside and that is of Course the next Direction where we're Waiting for if we're right now looking At Bitcoin on the ime short term we can Clearly see we created a new Bitcoin C Me Gap currently the Bitcoin CME close Price is around $52,750 123 million us with once again a

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Pretty high amount of outflow from of The grayscale Bitcoin spot ETF and if You want to be noting this data as first Before I upload the video make sure to Follow me on Twitter always once the ETF Data comes out I will post it straight Away on Twitter and usually I am one of The fastest sources regarding the ETF Flows so if you want to be knowing more About that make sure to follow me over There also quickly to understand guys in The last 5 days we've seen a lot of Bitcoin flowing in towards the market I Mean more than2 billion US dollars worth Of Bitcoin was bought in the last 5 days And that is of course additionally Providing a lot of buy pressure and even Though yesterday we saw 300 million US Dollars flowing in towards the market we Did not saw really clearly a breakout on Bitcoin but what I think that has been Happening is that we're clearing a lot Of sell orders and once all these sell Orders are cleared indeed we are most Likely going to be shooting further on Towards the upside and we're going to be Heading towards the next level for Bitcoin but so far honestly if I am Looking at Bitcoin just from a techical Perspective we have been going quite Exponential and usually if you're going To be consolidating after an exponential Rally on the top side it usually means That you're going to be having a drop

Off because that is the point where Momentum is dying off on the market but You can clearly see right now for what Is it the past 3 to 4 days Bitcoin has Been just going sideways and it's very Boring in my opinion first we were Seeing Bitcoin going absolutely Exponential and now it has been going Sideways for such a long time maybe We're going to create another lag Towards the upside but what we will be Looking at is this consolidation phase Right here if we're going to be seeing Another breakout towards the upside then Most likely we're going to see another Push higher and if not we're going to be Of course looking for some lower targets At Bitcoin I mean looking at the Liquidation heat map first there was a Lot of liquidity being built up on the Lower side but currently if we're Looking the majority of the liquidity is Actually being built up above us so Things are changing very rapidly in this Market and currently we can see that More than a billion US dollars in Bitcoin short positions will be getting Liquidated if Bitcoin breaks above that 52.9k level so honestly I won't be Surprised that Bitcoin is going to see Another push up before potentially even Going lower or before potentially having That next move towards the upside I mean While this is all happening the funding

Rates are still positive what means that The majority of the Traders are actually Longing the market and due to that there Is indeed some more risk in the market For a potential cool off period but Right now since liquidity is once again Being built up above his I won't be Surprised that we are once again going To see Bitcoin take out the liquidity on The top side and then potentially move Down or then potentially see that next Move towards the upside right now I'm Going to keep all my eyes at this Consolidation phase and once we see a Clear breakout of this pattern then I'm Going to start to see what the next move Is going to be for Bitcoin and of course As well I will be looking at the range Low for Bitcoin and the Range High and If we confirm a break above either of These ranges that is going to really Confirm also the clear Direction Where Bitcoin is heading towards because if we Break out get rejected from the range And potentially have a fake out we could Still move down here but if we break out Break above the Range High and then see That continuation then I think it's a Valid move and we will most likely Continue to move even further on towards The upside so yes I am looking to be Trading this move as well here but for Now on I am still waiting on the Sidelines I'm waiting for a good

Opportunity because yes I am doing copy Trading and you could be joining me as Well and if I were to be opening up a Trade I want to be having the least Amount of risk as possible so if you Want to be joining me make sure to go to Decoin in link description down below Decoin is an exchange where you can Trade without kyc without VPN and there Are no restrictions and you are getting A $200 deposit bonus after your sign up An account using the link below and on Top of that you could copy Trade A lot Of these other traders that are actually Doing a great job here so if you're Interested check out the link Description of today's video but going Further in towards the content we do Also know Bitcoin broke out of the Bullish megaphone pattern and so far We've not seen the retest yet but if we Potentially see a retest this would also Be a potential opportunity for Bitcoin To head higher and what I also want to Be pointing out here I mean you can Clearly see Bitcoin has seen a Significant uptick in price in this Entire year but if we're literally Looking at the data from the quarterly Retail trading volume from coinbase we Can literally see that trading volume is Not even spiking yet here in Q4 it was Just as high as Q2 2022 it was only 60% What we were doing in the second quarter

Of 2022 so and if you're literally Comparing it towards Q4 2021 where we Did 177 billion US in volume on coinbase Now it's only 29 billion so there is so Much more to come and Retail fomo is Here not yet but once it does come that Is the point where Bitcoin will Absolutely go exponential but I can Guarantee you at this point we're not Seeing retail fomo yet here we're still Just seeing a very small Advertiser for What is about to be coming so this is The time to prepare this is not the time To get fooled and Hy if we're looking at The weekly time frame the weekly candle Is about to close on one day in 19 hours And if Bitcoin confirms the candle above The 0.65 and above the 0.618 we are Literally confirming the breakout above The most important weekly resistance and That would definitely make this breakout Legit because yeah maybe potentially We're still going to see a drop over the Course of the weekend and then we're Going to get a fake out but if this Candle closes like this we are having an Official breakout a breakout above the 0.65 uh on the Fibonacci and I said this Several times before if we confirm the Breakout Above This level I would Honestly expect that new alites are Going to come very quickly so is that The scenario where I'm looking at I Think that could be potentially

Happening so will keep my eyes wide open On the weekly candle Clause because if We close it over here I will definitely Get extremely bullish on the weekly Candles on bitcoin right there so the Weekly time frame I mean I just can't Still I'm in a little bit of a disbelief Phase that Bitcoin is actually pushing Up towards new Tim High while we're Still the preing phase so the Hing is Not even here yet but still already Bitcoin is pushing up towards new atim High so I'm honestly a little bit Amazed By this and you should not get fooled Here because usually before in this Stage where we're currently in we tend To see an big correction around the Hing That is at least what we have seen every Single time so far in the last three Hing Cycles this is the fourth H Hing Maybe it's going to be different this Time with these ETFs around but honestly If we literally will be pushing up Towards new aom before Hing it would be Actually something quite unusual and it Will be something something quite Special and honestly to be very clear I Won't be expecting that is actually Going to be happening but if were to be Happening I would definitely embrace it With both hands so ethereum right now as Well is breaking above this very Critical level resistance and I pointed Out that ethereum history is repeating

You can clearly see it here back in 2020 We broke outside of this asending Triangle retested it and then it went Exponential and then boom right now we Break outside of the ascending triangle We retested and right now we're also Going exponential so this is the time to Of course prepare yourself also for the Next ethereum move the ethereum ETF is Coming in May 2024 and I see no one Talking about it yet here so if you want To be early to an hype I think that Ethereum is going to be a massive hype Especially with the uh ETF coming up Here in May so this is the time to Prepare yourself this is not the time to Get necessarily fooled so this was it For me in today's update video I truly Hope you did learn some something from It if you did so don't forget to Subscribe to the channel and I'll see You guys back tomorrow with another Update video peace out goodbye

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