Bitcoin has seen a breakdown of the Ascending triangle I drew yesterday but I don't think that this is necessarily The time to be panicking so I looked at The charts closer and found that we are Also creating some other different Support lines and Bitcoin is still Creating an higher low here on the 4 Early time frame so today's update video I'm going to give an update on the Ascending triangle I will talk about the Liquidation heat map that is currently Still forming billions in dollars of Short liquidations that are currently Getting formed in the market many more Important data points important charts And many more stuff to discuss so Without any further Ado don't forget to Slop the like button back again above 1,000 likes that will be absolutely Incredible and with that of being said Let me jump straight away in towards the Content and once looking at the content Of course yesterday we were looking at This asending triangle but unfortunately We had a breakdown but like I said Earlier in the video I think that still We should be looking at the trend and The trend is currently still forming a Higher low on the chart and due to that I am still expecting in we are not Necessarily breaking down of this entire Region and due to the fact that Yesterday was the rest day on the US

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Stock Market there were also no spot Bitcoin ETF flows and due to that also We didn't necessarily saw any big moves Getting created but today the US Stock Market will open once again potentially We're once again going to see millions Of dollars flowing in towards the market And that could provide once again a lot Of by pressure so this data about the Bitcoin sport ETF will be shared with us Tomorrow morning so first thing tomorrow I will be sharing the data on my video And on my Twitter page so if you want to Be knowing more about the Bitcoin SP ETF Data make sure to subscribe to the Channel with the Bell notification Enabled and I will talk about it in Tomorrow's update video as First on YouTube so if we're looking at the new Price target of this ass setting Triangle we're going to be looking at a Target somewhere around $54,000 pretty Similar like the previous one and a Bearish breakdown is going to be Bringing Bitcoin down to 50.1k but once Again a bearish Target exact ly brings Bitcoin back towards this support region Right here so basically if Bitcoin does Seese the breakdown we're most likely Going to to come towards this level but Honestly if Bitcoin does see a break Below this level we are going to be Forming somewhat of an M pattern because Bitcoin is currently looking to create

Somewhat of a double top pattern and This could get invalidated if we right Now break towards the upset right and Continue to Trend upwards but if Bitcoin Sees right now a rejection towards the Downside and moves potentially then if First of all below the upward l support Line I will definitely start to worry This time and second of all if we break Below this horizontal support level Right here that I will make in this case The green book of support then we are Definitely seeing a trend reversal with A double top here so yes I want to be Pointing out Bitcoin could potentially Create a more bearish structure in the Market right now here but this bearish Structure will only get confirmed if we Do break either the upper sloping Support line right here or either the Horizontal support and then I will Definitely start to worry but as long as That is not happening I won't be Surprised that we could still Potentially see this move towards the Opsa getting created because right now On the liquidation heat map we're seeing More than 1.3 billion US dollar in Bitcoin short liquidations piling up Around $53,000 and usually where liquidity lays In the market that is exactly where Bitcoin moves towards so right now Liquidity is laying above us so we're

Expecting that Bitcoin is indeed going To take out the liquidity that is laying Above us and on the 3-day time frame you Can clearly see there's so much Liquidity above us right now and almost Nothing below us that I'm almost quite Sure that this is actually going to be Happening and a thing that is actually Very interesting to see that on this Recent move towards the upside the Bitcoin future open interest has Literally hit highs not seen since November 2021 and that basically means that there Is so much money getting bet that Bitcoin either is going to go up or down But in this case in the Bull Run Everyone was going long and that is why We saw the significant correction Towards the down downside but right now Since we're still seeing so much Liquidity being built up above us it Means that there are a lot of people Going short actually in this market and This is providing more liquidity and More injection of capital for Bitcoin to Be going even higher so that is very Interesting and once the loss bears are Actually flipping bullish that is most Likely the point where we are going to Be flipping bearish and honestly if I'm Looking at Bitcoin just like I said Earlier I think that it is very Important to be looking at this

Potential double top structure but this Will only get validated if we break that Support level H here on the lower side And that upper sling support line so Once we're seeing these levels getting Broken yeah then I could definitely be In for the scenario where Bitcoin indeed Is going to be having a larger Correction before potentially moving up Again but as long as that is not Happening I won't have that in my base Case scenario so looking further Bitcoin Indeed broke above the 0.65 Fibonacci Level and if you don't know what the 0.65 fibon Nici level means if we're Just for instance going to be looking at The L Bar Market we you going to set up A Fibonacci from the Range High to range Low and you can see the last time we Broke above the 0.65 was right here was The point of the beginning of the next Bull Run and if you're going to be Looking at all the previous Cycles every Single time once Bitcoin broke above the 0.65 that was the point where the bull Ring got initiated So currently once Again we're breaking above the 0.65 on Bitcoin and is this also the scenario uh And the situation where we are actually Confirming that bullish breakout and Where we are going to see that Continuation towards the upsite so yes I'm still expecting it could be Happening and I think that all your

Attention should be faced towards this Exact consolidation face and as long as We're not breaking the support I don't See a big reason to be panicking and Today we're going to have these ETF Flows so potentially we're going to be Having a massive day here on bitcoin Once again and if you want to be trading Guys because there's so many exchanges That are currently restricting trading In different places I am using decoin Where you can trade all over the world Without any restrictions and if you Write this D account using the link Below you could get some insane deposit Bonuses you can trade all over the world It's a reliable exchange it's a safe Exchange I know the owners and more Importantly if you want to be copy Trading this is regard one of the best Copy trading platforms out there I'm Going to start doing copy trading myself Anytime soon once I see a good Opportunity and you can only join me if You sign up an account using that link Below but there are also many other copy Traders out there that you want to be Checking out right now because they're Doing massive profits like you can see $33,000 $30,000 and you could all join Them and make profit with all those copy Traders so if you're interested check it Out in the link description of today's Video also we can see that currently uh

The market is definitely getting moved By liquidity that is getting injected by Tedar because the more us is getting Injected in the market the higher Bitcoin is most likely going to go and That is definitely very interesting to Be seeing so I'm going to keep my eyes Wide open on that further on we can see The Bitcoin on the last weekly candle Close close to high not seen at 100 11 15 weeks what is actually also quite Massive and you can clearly see that We're definitely in the reversal we're Definitely in an upward sloping Trend Here and what do you want to be doing in An uptrend you want to be looking at Long positions but where is the question Of course regarding the best scenario is That we are going to have a correction And then we're going to be opening up a Long position but that is of course Unfortunately not the situation we're Currently in and that is why we need to Be a little bit more patient so we do Know that the Bitcoin Hing is an Approximately 50 days out and use before The Bitcoin offing Bitcoin tends to see A correction but will this happen once Again because yeah once again we're Already quite far up compared to the Last time in the Cycles uh where we saw Bitcoin pushing up this time we're Pushing up already way faster and way Higher at a more rapid base here so it

Looks to me that this cycle it's a Little bit different but every single Cycle it's a little bit different Compared to the previous one but usually The top of the market is going to find Be find approximately 18 months after The Hing and the best time to enter the Market is usually 6 months before the Hing so that was approximately right Here so so yeah we're indeed currently In a very bullish stage in the market And I'm not regretting any moment right Now that I'm involved in this market Because I think there's way more gains To come here and talking about gains the Ethereum spot ETF is going to come in 96 Days from now on and if you're Anticipating this right now you're Anticipating this early you're early Towards the next big Trend reversal and I think that the next big Trend reversal Is going to be found on ethereum I mean Literally in the last two days ethereum Has been performing very well and I've Said this for what is it already two or Three weeks right now here even longer And I think that ethereum so some people Are saying that ethereum is indeed right Now going to going to go in towards this Down term it's going to be breaking this Very big support and going to be pushing Down here but I disagree I think that This is the point where ethereum is Actually going to flourish because of

The spot ETF because of the ethereum Improvement proposal that's going to Come through at the end of March I think That this is actually the time to have All your attention focused on ethereum And if there were to be another Correction I would rather enter ethereum Than Bitcoin in this stage of the market So that is my strategy right now here Greed is indeed running pretty high in The market and once the market gets Greedy you should potentially take take A step back and think okay oh what is Going on right here I need to be a Little bit more focused I need to be Having more attention so this is a thing That I would recommend to everyone to do I mean the market is indeed going very Quickly towards the upside there is Definitely room for more upside for Bitcoin right now here but honestly this Is also a time to be re-evaluating Yourself and uh to not necessarily fomo In towards the market so this was it for Me in today's update video if you did Learn something from IT smash up that Like button and I'll see you guys back Tomorrow on another update video peace Out goodbye

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