Right now Bitcoin is running in towards Critical resistance and in this exact Video I will talk about will this Trends Turn around or will the trend continue Towards the downside and I will also Talk exactly about my next Bitcoin trade My current ongoing Bitcoin trade and my Orders that I currently have set up and Much more important crazy and much more Important stuff that we need to discuss Right now so don't forget to slap up the Like button can we once again snap it Back up at 500 and with that of being Said let me jump straight away into Words the content and on the one hour Time frame we can clearly see we are Retesting the downward sloping Resistance line for the third time Already and so far we have officially Not broken above this novel and what we Can also clearly see is that so far we Have also not officially flipped above This very important one hour previous Support that currently is slipping in Towards resistance like you can see so Previously it ran this level provided Significant support right here for Bitcoin and also significant support Right here but currently we're not able To be breaking above it so far so only One hour time frame we can clearly see We are so far still trading in a Downtrend and as soon of course if we Break above this trend the horizontal

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Box and the downward solving resist line Together we could see a turnaround in The trend and of course if we then Manage to break Above This previous high Right here trading around 24.6 K I am Then expecting that we're going to see a Further continuation towards the upside But only if we manage to break above the Previous high right here that is trading Around 24.5 to 24.6 K basically this Horizontal level that you can see right Here furthermore I want to be quickly Pointing this out Bitcoin has been Pumping yesterday over the course of the Weekend and if we pump over the course Of the weekend we tend to create CME Gaps and we have also created another CME Gap and this CME Gap is around 23.2 K to 23.5 K and normally I don't really Like one's Bitcoin pumps over the Weekend and yet again I don't really Like one's Bitcoin pumps or Significantly dumps over the course of The weekend because 9 out of the 10 Times you can see it right here great to See me Gap two days later we filled it Up here we create the CME Gap two days Later we filled it up here and basically Every single time we create a CME Gap Two days later we fill it up and we Continue the trend so this is once again Important to pay attention towards we Are currently creating a CME Gap and yes We are having a small little bounce but

To be very honest this bounce is a Bounce in towards resistance on the Two-hour time frame we are creating a Breakout of this falling wedge pattern And the falling wedge pattern has got a Price Target on top of the wedge what Means that the price target of this Pattern right here is only around 25 000 However I will only trade this pattern If we do break Above This range right Here I've been basically talking about On the one hour time frame as well if we Break the downtrend on the lower time Frames and also actually on the four Hourly time frame right here then I can Say okay right now we are officially Breaking bullish on that following which Pattern and we should also trade it Towards the upside I would not trade it Already right here because the trend is Still bearish and from of the Horizontals were just literally seeing a Big rejection from this level if I'm Looking actually about where the support Was found it was actually found exactly On the level where we've been talking About the 23 000 right the twenty three Thousand dollars was also the vpvr Support the level where the majority of The volume was traded and you can Clearly see it right here Bitcoin once Again found support on that level if we Break below this level then I could Expect to see a faster drop towards the

Downside why is because this is Basically the volume support in the Middle of the range and as soon as we do Break below it then we could start to Fall very quickly towards the downside For Bitcoin like I just said a moment Ago the level to watch is that 23.6 K to Break above off currently I have been Setting up a shorting position for Bitcoin because I am personally Expecting we're actually going to see a Rejection from this level but not from The 23.6k but from the 23.8k a small Little move back towards the outside a Little bit further and then I will be Entering my shorting position so you can See you don't buy bit I already set up My short position I am looking for a Continuation of the trend because on all Your time frames Bitcoin is actually Looking bearish and of course on the Four hourly time frame we can see that We're currently in a lower low together With lower high structures so it will be Likely to form another lower high and of Course as we if we doesn't if we do Break above it to hit our stop loss we Could look at a long position on the Retail so this is basically a trade I'm Taking with the trend and I'm currently Just looking at it how it is going to be Performing Bitcoin and of course if we Clearly break back above that range We're probably going to have a bullish

Bias again that currently is more likely To see a bearish continuation in this Market right now so that is why I still Have got a short rate open and also Another reason why I'm looking for short Entries because currently I'm still in a Swing trade that is a long position so I Would like to of course take some more Profits on my long trade and at the same Time hedge my positions by also shorting Bitcoin so that is exactly what I'm Currently doing and this is exactly the Level that I'm looking at 23.789 K and that is of course the level Where I will be entering a shorting Position within approximately five Bitcoin so that is an approximately 110 000 US dollar shorting position if You're interested in trading yourself as Well you can check out the links Description where you can claim the Deposit bonus up to thirty thousand US Dollars on The Daily time frame we can Still see the resistance to break twenty Five thousand dollars there's nothing New on this chart right now but I still Want to be pointing out the resistor Break is twenty five thousand dollars And at the same time the reason why I'm A little bit worried and a little bit More bearish on them in the short term Is that the neck D and the RSI are both Forming bearish Divergence on The Daily Time frame what is indicating that the

Strength is losing we're having a losing Strength structure what could result in Of course a continuation towards the Downside looking at it to be like shark We can currently see that we're still Training significantly above the Legendary support line if we will ever Touch it again you will be the first one To know the channel and that will be of Course a new very good swing trade Opportunity if we will ever retest this Level again but anyways if we will ever Retest this level you will be the first One to know on the channel That was it For me on today's update video if you Did enjoy don't forget to slap up that Like button and I'll see you guys on the Next one peace out goodbye

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