Bitcoin is having a super important Retest here on the weekly time frame and On this video as well I will give a huge Update on the binance situation I will Exactly explain what currently is going On I will give a big update about what Is happening on the image short term What is happening with the long and Short positions on binance and what is Going to be happening next for Bitcoin So don't forget to watch this video till The end because this is definitely one Of the most important update videos I Have made it well even though Bitcoin Has been super boring in the meantime so Without any further Ado don't forget to Stop all the like button on today's Update video can we smash it back about 500 likes that will be absolutely Incredible and with that is being said Let me jump straight away in towards the Imminent short term of the price action Of Bitcoin once looking at Bitcoin on That a minute short term we can Currently see that Bitcoin had yesterday Saw a small little dump towards the Downside and straightaway recover back Towards the upside and right now still We are trading around 26.1 K but just Like I've been predicting I still think Bitcoin is going to go a little bit Lower before potentially turning back Towards the upside again here you can See 25 000 is still liquidity range and

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We went down to grab some liquidity not Necessarily touch the lows maybe this is Right now already the bottom but still I Am prepared for Bitcoin to potentially Go to 24.8k before bouncing back towards The up size so yes if Bitcoin does Decides to be going higher from of this Point onwards I will be definitely okay With it but I won't be surprised if Bitcoin first comes down to 24.8 K Before potentially sees its next upturn So only four hourly time frame as well And Bitcoin remains to be boring it Remains to be trading sideways and Really where we should be looking at Right now for Bitcoin are these higher Picture so on the bigger time frame we Can currently see 24.8k is the massive Support training below us and as long as We're holding up towards 24.8k this Previous resistance level that flipped Into support right here we are just fine Here so as soon as we do break below 24.8k that is the point where I would Start to be worrying on bitcoin but as Long as we're holding up towards that Level I don't really see a reason to Really start to be panicking and of Course for the Bulls we need to be Breaking of 31.6 K but that is not Really the case to be discussing right Now since we're training on the Lower Side many people are currently saying Bitcoin is going to come down to 10K or

12K but if that is going to be happening It's probably not going to be happening Straight away here because currently Bitcoin remains to be super oversold not Only on the 12-hour time frame but also On the daily time frame and you can Clearly see on the daily time frame how Significantly oversold we are and Historically speaking once we are Oversold on bitcoin we've learned this From the FDX school apps we've learned This from previous collapses on bitcoin As well I can give you another example Here back in June we usually tend to see A small little recovery creative bullies A virgin's recovery before potentially Going down here because the markup Doesn't really move in one go here it Usually takes some time to get this move Initiated so if Bitcoin really is going To go down here I would first expect a Small little relief towards the upside Before coming down lower and of course What is important to know as long as Bitcoin remains to be holding this daily Support around twenty five thousand Dollars I don't really see a reason to Be starting to be panicking in the Market right now then another very Interesting thing we need to be Discussing is of course the open Interest and the filming rates in the Market currently we can see Bitcoin Funding ethereum funding BNB as well

Everything is negative what means that The majority of the traders in this Market are currently trading the market Short and due to that the market is Having significantly negative filling Rates what means that if you are in a Long position you are getting paid to be In a loan position and what also means That they're currently That currently there are more shorting Positions open in the market in terms of Open interest than long positions so That is usually going to indicate it is Unlikely that there's going to be a Short squeeze in the market anytime soon So looking at my trades here currently I Remain to be long on ethereum this is in A significant loss right now here but Like I've said several times before if Ethereum comes down to 14 to 1500 US Dollars I am going to double down my Margin to basically bring down the Average liquidation price by literally Four to five hundred dollars so yes this Is my strategy that I'm currently Trading and yes if ethereum really Decides to be dropping further on Towards the downside I am just going to Add more margin and this is a trade I'm Trying to be building up for the next Bull Run so I can make a ton and ton of Money from swing trading ethereum since I'm super excited about ethereum and if You are interested in trading don't

Forget to go to the link description of Today's video because you can claim a Free 1 000 US Dollars low or short Position on bitcoin or on xrp and all You need to do here is go to the link in Description sign up an account using That link deposit 100 within seven days And you can claim a free air drop Position worth one thousand US Dollars On xrp or either on bitcoin so go to the Next description if you want to be Claiming this but it's definitely super Valuable then let me quickly explain What currently is going on with binance Because there's a lot of thought in the Market about what currently is happening With BNB what currently is happening With binance so like everyone does now Here BNB is the OWN coin from binance What primarily serves the users within The platform the total market Capitalization from BNB is approximately Equivalent to 1.2 million Bitcoin yet Binance only hold 563 000 Bitcoin under exchange should the Value of BNB decline binance May resort To be liquidating their Bitcoin to Uphold their BNB price this approach is Of course tendable until it isn't so of Course until it drops to March they Can't hold up the price anymore so if Those lawyer could potentially mirror an FDX scenario but then on a way larger Scale because binance is literally the

Largest centralized exchange so I am not Saying this is going to be happening Because they also have a lot of Dollar Resort reserves if I say it correctly They are holding 1.5 billion US dollars In dollar reserves to be buying up if Anything is going to be happening in the Market so yeah this is pretty Interesting to be seeing here they have Got a lot of reserves so since FTX Already happened 10 months ago they know How to avoid this and that is why I Probably think it's not going to be Happening however if you hold all your Funds on binance I would definitely Start to be moving your funds to some Other exchanges or to a ledger so if You're interested in moving to another Exchange I would of course highly Recommend to sign up an account using The link description because then you Can also claim a free 1000 US dollar Airdrop position but more importantly it Is just important to understand the risk In the market and what could be Happening with Bitcoin do I really think Binance is going to collapse no I don't Think it's likely to be happening so Right now what we can currently see here On the BNB price here is that BNB bounce Back towards the upside and while this Happens the open interest significantly Decreased in the market so what we saw Over here is shorting positions getting

Close and the market is moving up here So there's some shorts getting out of The market and at the same time if I'm Looking at the funding rights it is Extremely negative what means that People are already betting on BNB going Lower what is of course very interesting To be seeing here because that could Also cause a massive short squeeze and Also I think it's probably going to be Holding up here but I do want to be Pointing out the risks that are Currently in the market and yes usually Once there's so much fun in the market It also equals a very good buying Opportunity I see many people panicking In the market right now here the Bitcoin Is going to crash you ten thousand Dollars but this is once again a very Good buying opportunity since there's so Much fun in the market and that is why I Am currently buying more Bitcoin and More importantly this is also the week Where the judge needs to be deciding Whether to Grant or deny the conversion Of a grayscale fund in towards a Bitcoin Sport ETF and this will be happening This week and that is of course super Exciting because if this happens the Market can reverse very very quickly and Bitcoin could be back on thirty thousand Dollars in literally no time so make Sure to pay attention towards this as Well here at the same time Bitcoin could

Start to be creating of course at higher Low here on the three-day time frame and While that is going to be happening it Could also mean that we're going to Confirm the lower low on the Arizona in The 3D time frame and that we're going To be printing a bullish Divergence on The three-day time frame what is of Course a super interesting and bullish Signal for the Bitcoin price section Right now here at the same time as well We can currently see here that Bitcoin Is currently seeing a gigantic retest Here of this super important 25 000 US Dollar level and basically every single Time we've been retesting this novel we Have seen a positive reaction from it Either a big rejection or a big balance From it and as long as we're holding Above This level I don't see a reason to Be panicking on bitcoin right now here And more importantly we are also rich Testing the super important weekly trend Line that previously ran provided Resistance for over 616 days here and Right now it looks to be flipping into Support So this together with the Horizontal level around 25 000 makes up A very interesting range for Accumulation in my opinion and of course I don't really see a likely scenario Where Bitcoin is going to really break Below it says also that grayskill sport EDF is probably going to be happening

This week it's very likely it's going to Be happening and if this happens the Other Bitcoin sport ETFs are going to Get approved within no time because they Must and then the market is going to Start rolling in towards a positive vibe Again here and right now everything Looks so bearish probably the market is Going to be reversing very quickly again Here and if these both Bitcoin sport ETFs are going to get approved what is Going to be happening is that the Bitcoin dominance is going to rise and Altcoins orange that is what I am Expecting altcoins are going to stay Behind Bitcoin is going to be rising Most certainly the most so that is what I'm currently expecting be very careful With buying all coin I personally think That the Bitcoin dominance is probably Going to see another move towards the Upside and my personal targets to be Buying it towards all coins is either Once Bitcoin breaks his Auto my or is Getting very close to be breaking its Ultimate or either when it's starting to Be approaching at 54 to approximately 60 Region for Bitcoin because that Previously ranked was a very big level Of resistance and that could be a region For me to be starting to think right now I really want to get into altcoins but Currently I'm still standing a little Bit low and of course if I'm going back

Into all coins you will be all knowing Here on the channel because then we're Going to be making a ton and ton of Money once again with the altcoin market Making 30 to 20 X's everywhere so guys That was it for me in today's episode if You did enjoy don't forget to stop up The like button and I'll see you guys on The next one peace out goodbye

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