Right now Bitcoin is retesting the 200 Weekly moving average and in this exact Video I will be talking about this most Important level of support I will also Talk about this important level of Support below us and much more important Stuff because right now the volatility Index is telling us there is a big move About to be happening for Bitcoin and I Will be exactly review what is going to Be next for Bitcoin today so don't Forget to watch this video till the end It's going to be a very important one And can we once again slump up the likes Back above 500 that will be absolutely Incredible and with that being said let Me jump straight away in towards the Content once looking at the image short Term for Bitcoin we can see that we did Bounce back towards the upside a little Bit here but to be very clear yesterday We closed the CME price somewhere around 26.5 K and currently we're training Around 26.9 K what means that we're Currently trading above the CME close Price what will result in a new CME gap For Bitcoin getting created tomorrow so Be aware they still see me get below us So due to the fact we could see some Slight decreasments happening today or At the beginning of tomorrow if we're Even going to see a further continuation Towards the upside furthermore we can See that on the 4 hourly time frame

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Bitcoin is clearly trading in a Downtrend Bitcoin is creating lower Highs together with lower lows and Basically we're seeing that the trend of Bitcoin is trending downwards however Ever since Bitcoin broke below this very Important box of support we're right now Re-testing this exact big previous level Of support right now as resistance and I Am very curious on whether this level is Going to be providing significant Resistance or whether we could be Breaking back above it and see a slight Boost back towards the upside the reason Why I'm saying so is because currently Bitcoin has actually retested the 200 Weekly moving average on the weekly time Frame and you can see clearly in the Previous bear Market that the 200 weekly Moving average provided a significant Amount of support as well here in the Pandemic crash here and of course once We were trading below it this level Acted as resist this is right here and Also right here we retested it we got Rejected and ever since we write and Broke above it this is the first time we Were retesting the 200 weekly moving Average again the 200 weekly moving Average is basically the average price From the last 200 weeks of the price of Bitcoin so yeah if we're trading above The average of the last 200 weeks for Bitcoin it's definitely a very bullish

Thing in my opinion so yeah right now We're trading above it and of course Like you can see the 200 weekly moving Average is still trending upwards what Is of course bullish for Bitcoin in the Long term even in the bear market last Summer right we still were trending Towards the upset for the 200 weekly Moving average and basically never ever Has the 200 weekly moving average Trended in towards downtrend so so far It has not happened yet so far and yet Again we're still seeing the 200 weekly Moving average trending towards the Upside right now again we retested this Level and we're bouncing from it a Little bit right here if we do break Below it I don't really think it's going To be all too big of a problem because Yes we also did broke Below in the Pandemic Crusher yes we also also broke Below right here and of course a few Weeks later we traded back above it Again then we got a fake out back Towards the downside so yeah if we do Re-fail to hold on towards his support You know my next levels of support Because if Bitcoin breaks below this Level it's not going to be able to hold On towards it my next big level of Support is going to be this next weekly Support that is going to come in here at This previous resistance level here on The Bitcoin time frame and you can

Clearly see Bitcoin previously around Got rejected by this novel and right now I am expecting if we do see the retest Of the 24 000 to 25 000 Bitcoin is going To be balancing from off this level and We're going to see a significant rally Back towards the upside so yeah if we do Break without the 200 weekly moving Average the next big support for Bitcoin Is going to get found around 24 to 25 000 of course the question really Remains can we once again break back Above This level I think this is really A thing we should be looking at next Week I think this is really a thing we Should be looking at next week here Because yeah right now it's weekend and Usually over the course of the weekend There's just not a lot of volatility and Due to that reason we're also not Already seeing these big moves happening For Bitcoin I mean talking about big Moves for Bitcoin we are currently Seeing that if we're looking at the Bullet events and the bullet events with Here is that the bullish events is yet Again becoming very very narrow just Like it was here at the beginning of March just like it was here at the Beginning of January and basically all The time that the bullish events with is So close to her towards each other so in This white box right here we tend to see Extremely big volatility for Bitcoin and

Like you can see we're coming closer and Closer towards this low volatility stage Like we had in the beginning of January And I can guarantee you there is going To be a significant move happening for Bitcoin and one thing is for sure There's just going to be a lot of Volatility for Bitcoin happening anytime Soon especially since the bullish events With is so narrow right now you can see It happening in the boss as well right Here here we were training in the white Box in terms of the bullish events with We saw of course a big spike volatility Here as well it's all big spike in Volatility and basically every single Time the Bitcoin Bollinger Bands is so Narrow we just see an X extremely Volatile move happening for Bitcoin and Since it's becoming extremely narrow Again right now I'm expecting there's Going to be a lot of volatility not Necessarily tomorrow not necessarily the Day after but in the coming weeks we're Going to be experiencing more volatility For Bitcoin and that is extremely Exciting in my opinion if you want to be Trading the volatility I am currently Shorting Bitcoin and I'm planning to be Opening up a gigantic Bitcoin long Position but it will be opening up this Long position only if Bitcoin comes down To 25 to 24 000 I'm going to deploy more Than one million US dollars in Bitcoin

Quantity so if you're interested in Following me on this trade don't forget To subscribe to the channel and if you Want to be training yourself as well you Could do so on buy with our big get you Can find the links in description of Today's video right now here sign up and Get an additional deposit bonus and Start trading yourself today so make Sure to go to the link in description if You are interested in trading because Yeah this is the possible bonus it's Only valid for people that actually sign Up an account using the link in Description of the today's video Furthermore we can see that Bitcoin is Still creating on the 12 hourly time Frame that honey showed us pattern we Broke down so far we're not really Seeing the next move getting initiated But like I said it's weekend we created The CME Gap and usually volatility is Lower over the course of the weekend so Yeah I'm still waiting for this next Move really to happen the price Target Is all the way down to 25 000 that is Still quite significant and that is also Exactly the reason why I still have this Bitcoin short position open for the Moment furthermore we can see that on The daily time frame Bitcoin of course Broke down of the symmetrical triangle And just like the head and shoulders Pattern the price Target is at this next

Big level of support somewhere around 24 To 25 000 so yeah I'm going to be very Patient right now here I do see that the Volatility is about to be hitting the Markets anytime soon I do know that We're currently trading on the two Islands weekly moving average but this Is really the time to pay attention Towards the market right now so that was It for me in today's update video I Truly hope you did enjoy it if you did Enjoy it don't forget to slap up the Like button and I'll see you guys on the Next one peace out goodbye

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