Bitcoin is breaking down right now and In this exact video I will be talking About where Bitcoin is heading towards Next the price targets and in overall The current Trend that we're looking at For Bitcoin what is the next significant Move where will we find support and more Importantly we are currently seeing a Continuation of the losing momentum Structure so make sure to pay attention Towards this next signal that is getting Created right now so don't forget to Slop up the like button can we once Again smash you back about 600 that will Be absolutely incredible and with that Of being said let me jump straight away In towards the imminent short term and On the one hour time frame for Bitcoin We can clearly see that we're still Trading in a downtrend like I have been Saying for the past so you can clearly See Bitcoin is forming lower highs Together with lower lows what is of Course a signal of a downtrend currently Since we broke below the previous low What I want to see for a continuation Trend of this current ongoing trend is Basically an retest of this range right Here if Bitcoin is going to see a Recovery phase and bounces back to the 23 000 US dollar sees the rejection from Of that point onwards then I expect it's Likely to see an even further Continuation towards the downside Plus

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

On top of that it's actually a very Interesting shorting Target for Bitcoin Overall you can currently see a big Previous support got broken and Currently yeah if we're really going to Retest it it's actually going to provide Us a very good short entry because what You do if you're trading Bitcoin is that You always trade with the trend and Currently the trend is significantly Downwards so I am actually still looking For new shorting positions like I've Been saying I have been bearish on Bitcoin for quite a while already not Purely because of the one and four Hourly downtrend but also because of This due date time frame where you can Clearly see the big one is actually Losing momentum right Bitcoin is forming Somewhat of a rounding top it's forming A losing momentum structure and I've Been calling and saying this for already Such a significant wall and currently Weekend once again see that the Prediction I've been making is coming Out here you can see also very well if I Am opening up the RSI and on The Daily Timeframe we've been creating insane Bearish divergences and currently yeah They're just really playing out right Now so it's important to pay attention Towards the market structure and so far The market structure is not looking good On the higher time frames and on the

Four hourly time frame we actually broke Down all these symmetrical triangle the Symmetrical triangles got a price stuck A little bit lower than we currently are But if I'm really going to be looking About where Bitcoin its dump is going to Stop I should be looking at horizontals And if I look at horizontals I can Clearly see on this chart right here as Well is that did this previous High and The previous low right here is currently Where Bitcoin is finding support at so I Honestly think it's likely that we're Going to be finding significant support Around twenty two thousand dollars if we Will really break below it that could be A signal the Bitcoin is actually also Flipping up the bigger Trend around Because if I'm zooming out here and Really say okay but the 4 Ellie time Frame isn't bigger perspective still in An uptrend right of course this is a Downtrend but on the bigger perspective You can see right here they were still Trading in an uptrend yes until we break Below that orange box so if we break Below The Orange Box then really I Should even start to get worried even More about the price section of Bitcoin Right now it's already not looking Strong but especially at the point where Bitcoin breaks below that orange box That is the point where it would really Start to worry for Bitcoin so yeah we

Broke down of the symmetrical triangle If I remove these lines you can clearly Still see that on the bigger perspective You could see it also on the 12 hour Time frame we are creating higher low After higher low so far still in higher Low so technically speaking we're still In an uptrend on the 12 hour time frame Only I don't really like to approach it Like that but I want to be pointing out That currently officially we are not Flipping around to Trend until we really Break below 22 000 with a confirmed 12 Hourly candle close so yeah on the four Early time frame I've been saying that This previous support Target was a very Good level to short I did shorted it Only managed to take out 1 000 US Dollars in profit but I clearly was Right again what was about to be Happening next for Bitcoin so yeah you Can clearly see previous report flips Into resistance that is just how you Should trade Bitcoin also looking at This other horizontal chart for Bitcoin You can clearly see that we are actually Right now breaking below this key big Important level of support that provide A significant amount of support in the Past and currently you can see that We're trading below it so if we retest It it's going to act as resistance so This is actually not already a good Thing for Bitcoin and if we can't really

Break back above 22.7 to 22.8 K it could Potentially provide interests yeah flip Into resistance and that could result in A bigger rejection for Bitcoin towards Another level than somewhere around 21 000 US Dollars it is not looking good For Bitcoin right now the trend is Overly bearish only in a short term and It is just not looking good of course For me to flip bullish again on bitcoin There need to be a lot of things Shifting around right now we need to be Flipping back Above This range right Here we need to flip this range right Here back into support as well but as Long as we're not seeing that I should Stay bearish on bitcoin currently with My trade I have been looking in some Profits here left and right with my Shorting position it's already closed But it was definitely a very fast move Towards the downside well in fact the S P 500 didn't move down at all so it was A pure Bitcoin ShakeOut but yeah these Things are important I've been saying it I really think that there is a signal on These higher time frames on the daily Time frame as well we can clearly see There is been a losing momentum Structure that's been losing momentum on The tops creating someone of a rounding Top on the top side however right now as Well I need to be pointing out this next Signal that is potentially starting to

Get created because Bitcoin is right now Still finding support on its daily Uptrend on the week so you can see boom One Touch second Touch third touch We Touch This level again I think currently We're going to be looking at the trend Line in general for Bitcoin that this is The most important trend line to be Looking at because as long as we're Rolling up towards this level right here We're actually looking quite fine and Actually actually if you're looking Closely you can see that Bitcoin is Maybe potentially even creating an Ascending bordering wheelchair and That's something we're doing which is Typical bullish by pattern so it could Still be bullish momentum getting Forward for a Bitcoin but for me to Really say okay right now Bitcoin is Going to do up I need to see that four Hourly time frame shift and right I need To see these levels getting broken and I Need to see the higher high higher low Strokes you're going to create as long As that is not happening I'm not going To flip bullish on bitcoin but I'm Definitely going to keep my eyes wide Open on the charts right now here of Course 25k is the level to break but if We really break daily support Trend Right here that is the point where I Would really start to worry that we Could even see retracement back towards

Levels of eighteen thousand dollars and Yes I am saying it there is still a Possibility that Bitcoin is going to Come down to 18 19 000 for Bitcoin there Is still a possibility that that could Happen so make sure that you're prepared For everything I'm not saying that it is Actually likely to happen but if we Break this level right here I wouldn't Be surprised if we see a move like this Right and then I move back towards the Upside I wouldn't be surprised at all so Make sure to be prepared for everything That's currently also I've been saying It yesterday this signal is currently Officially flashing the three-day macd Barrel Scrolls like you can see right Here is officially flashing right now Here and this is definitely not a good Signal to be happening in the market Because historically speaking once the Signal flash it's less flash right here It flashed right here it flashed right Here on the exact ultimate for Bitcoin It flashed right here it's flashed right Here and basically it's flashing again Again and you can clearly see what Happened in history once the three-day Magdy flips bearish it usually tends to Indicate there's going to be some more Bearish price action for Bitcoin so make Sure to take this serious this is an Important signal to pay attention Towards and currently splitting bearish

Maybe it's going to be very short just Like here where we basically hit the Bearish crossover that dump and then the Recovery back towards the opposite that Will be absolutely amazing but currently We don't know we don't know how it's Going to be playing out but this is Def Roughly signal where everyone should pay Attention towards anyways this is it for Me on today's update video if you did Enjoy it don't forget to stop up the Like button I'm here to tell you what I'm going to be doing next of course for My trade I really have to wait and see The market develop you're never going to Be trading Bitcoin after it's dumped Significantly and you're basically Waiting for a direction from of this Point so what I'm waiting for right now Here to open up my next trade is either Move back so I can short it or dumb down So I can long it on big support so I'm Going to be looking at that after this Video as well and in the telegram Twitter or YouTube even I will share you Guys my analysis and the way how I will Be trading Bitcoin so don't forget to Subscribe to the channel and I'll see You guys on the next one peace out Goodbye

You May Also Like