Bitcoin is retesting the inverse hand Shoulders on the weekly time frame and In this exact video I will talk about What this means for Bitcoin and also Bitcoin is right now breaking below the 200 weekly moving average I will be Exactly talking about this what could Happen if Bitcoin breaks this very Important neckline and many more Important charts I will talk about Historical Returns on August but also More importantly I'm going to talk about The historical Returns on September and Never in history of Bitcoin the returns In September have been positive so I Will be exactly discussed this and many More important charts can we once again Smash Up the likes back above 500 that Will be absolutely incredible and with That is being said let me jump straight Away in towards the content currently we Do know it is Sunday it's the last day Of the weekends and Bitcoin is still Hovering around at 26 000 US dollars What is of course the CME Futures price For Bitcoin I will remain to be Expecting that Bitcoin of course is Going to be trading somewhat around that 26 000 US Dollars and if Bitcoin really Moves far from of this price we're Expecting that either at the end of the Sunday or at the beginning of the Monday We will be retracing back towards this Price or pumping back towards this price

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So yes this is the CME futures for Bitcoin and we are looking closely Towards this boring price section over The course of this weekend after Bitcoin Had that massive drop towards the Downside so looking at the imminent Short term for Bitcoin we can clearly See that the RSI is massively climbing Back upward so we are currently creating Some bullish diverges on the one hour Time frame but I don't really like the Structure to be very honest and on the Four-way time frame you can still Clearly see Bitcoin remains to be super Oversold and historically speaking once Bitcoin is so oversold to the quarterly Time frame at least what we tend to see Is a small little bounce back towards The upside but just like I said on Yesterday's video Percy I do really Think that the liquidity is going to get Grabbed from off this move towards Downside because from every big move Towards the downside for Bitcoin we Always see that liquidity is going to to Get grabbed here and I'm not necessarily Expecting it has to be happening Straight away first I am really Expecting a smaller bounce back towards The upside then a move down here to Approximately 25 000 hit that level Create a double bottom and then bounce Back towards the upside and of course if That happens we will also create a

Bullish Divergence probably on the Farrelli RSI and then I personally think The bottom is going to get formed for Bitcoin so be on high alert hypers still Think there is a possibility that Bitcoin is going to create another move Towards the downside since yes the Bears Are still also a little bit in control Here however a very important thing to Know here for next week here is that two Days ago the US court didn't reach a Final decision on the grayscale lawsuit Against the SC regarding the conversion From its Fund in towards a Bitcoin spot ETF however it's anticipated that this Core decision will happen next week here And of course and if they win this Lawsuit then most likely all the Bitcoin Sport ETFs have to get approved within Days so yes this is very important for The market and if they win it it will be A super big win for crypto overall so Keep your eyes wide open on this if they Win this lawsuit Bitcoin could start to Reverse its momentum very quickly again Here so make sure to pay attention Towards this or maybe the market dumped Because some people already know some Stuff in the market that we don't so Yeah this is very important to pay Attention towards and this will happen Next week and this could cause once Again more volatility hitting the market Than at the same time another thing

That's probably going to cause a lot of Volatility is the low funding rates that We can see across the entire Market over The entire Market the entire funding Rate is negative what means that there Are more short positions active than Long positions and it's across all the Cryptocurrencies not only across Bitcoin And ethereum but all the Cryptocurrencies and it's also quite Significantly negative and in my opinion What happened is a lot of loan positions Exited the market you can see it on this Graph right here this is the open Interest really move towards the Downside and Bitcoin also moved down so Likely these are a lot of loan positions That are exiting the markets and Currently we can see that the open Interest is sitting at the low not seen Since March 2023 what is of course Actually quite a very nice thing here Because the lower the open interest in The market the less risk it is on Investing into Bitcoin so open interest Is at the low and funding rates is at a Lowest wall here so that could mean that We can start to see maybe another Squeeze of open interest where short Positions are going to get squeezed out Here and that would mean of course a Move back towards the upside for Bitcoin And just like I said I don't necessarily Think we're going to be having a big

Bounce back to thirty thousand dollars However I personally first think we Could come down to twenty five thousand Dollars before seeing a bigger momentum Shift back towards the upside I mean It's going to be super important to be Watching this trend line right here in The middle the 25 000 because twenty Five thousand dollars is clearly the Most important level for Bitcoin because AMD Luna collapse it provided support Here it provided resistance this wall Right here it provides resistance here Provided support and once again this was The level that exactly found support for Big good again so twenty five thousand Dollars is the main level to be looking At and if we break below that level yes Then we are in big trouble so twenty Five thousand dollars is the main level To be looking at quickly looking at my Trades I remain to be long on ethereum Because yes I am building up a swing Trade for the next Bull Run because I Personally think that ethereum is going To hit levels above 10 000 US dollars in The next Bull Run and I'm currently Opening up my leverage positions if Ethereum comes down to 1500 I'm just Going to double down my margin I'm Currently in a small loss here but I am Building up a bigger and bigger position As time continues so yeah if you want to Be trading yourself go to the link

Description of today's video where you Can claim it deposit bonus up to thirty Thousand US Dollars talking about this Market of course I said this yesterday Here I still think that if you look at These previous big dumps towards the Downside Bitcoin always tends to be Finding its liquidity back here on the Low so I will be expecting the same here I'm quickly looking at the daily RSI on Bitcoin we are currently sitting at the Low not seen since pandemic crash 2020 So big coin is currently sitting at an Extreme low here in terms of its Oversold conditions and you have to know What happens in the epidemic Rush Bitcoin of course slowly recover back Towards the upside but more importantly It indicated a generational buying Opportunity and that is what I think as Well once again that is happening right Now this is a generational buying Opportunity and you have to know and Understand what's going on here many People are in fair but next week maybe If grayscale is going to win the lawsuit The sentiment will shift very quickly Again here and Bitcoin could be back on Thirty five thousand dollars in no time Again so what you have to be paying Attention towards right now as well here Is the dollar index that currently is Trading in a massive damage Trend but is Currently in a small little bounce back

Towards the upside but it is currently Going to be retesting a very important Trend line so if we see rejection from Here on this could be also playing out Pretty positively for Bitcoin and create Some more bullish momentum for Bitcoin As well and of course I've talked about This level many times before here we're Currently retesting the inverse-handed Shoulders for Bitcoin so yeah as long as We're trading above 20 five thousand Dollars I do still see this pretty Positively and the macro trend is still Bullish but I've said this several times Before if we break below twenty five Thousand dollars the bigger trend is Going to shift around you can also Currently see here that we're retesting The 200 weekly moving average we're About to be moving below it so the 200 Weekly moving average is sitting Somewhere on 27 000 US dollars but back In June we also broke below the 200 Weekly moving average and people thought We were screwed but in the end of today We still moved towards the Ops so Personally I don't really know on how Much this exactly matters but currently We're retesting the 25 000 and like I Said earlier in this video as long as We're rolling twenty five thousand Dollars I remain to be believing that There's no reason to really panic in This market right now here one thing and

That is very interesting to be looking At here is the month of September so Yeah in 10 days from now on we're going To enter the month of September and Literally in the history of Bitcoin we Have never seen Bitcoin had a positive Month in September so September is the First month after the summer basically And yeah it's about how to start in 10 Days from now on and that is probably Going to Kickstart maybe potentially Another leg towards to dance it or maybe This time around is going to be Different last year August was also Bearish but September is definitely a Month I am a little bit worried about Then quickly talking about ethereum There's only one chart I'm going to Discuss here but currently ethereum Remains to be holding its day a weekly Uptrend here I mean I'm super excited About ethereum in Q3 of 2023 we're also Going to get a huge update on ethereum And it will make ethereum cheaper on the Layer ones what is of course a big issue We all know so this is going to be a Super important update for the next Bull Run on ethereum I'm super excited about It and that is also one of the reasons Why I'm currently building up a swing Trade here at the lower prices I am Still very quite excited about ethereum I don't really think we're going to Necessarily break down here if we do

Break down here yeah I'm just going to Keep buying more and more ethereum if it Comes down to time with one thousand Dollars I'm just going to keep buying More here because ethereum is a Deflationary asset more than 24 of the Total ethereum in circulation is Currently stayed on the beacon chain That is absolutely insane so a lot of Ethereum is getting out of Supply so There's not a lot of cell pressure and More importantly ethereum is a Deflationary asset by 0.3 percent a year So in 10 years from now on there's going To be three percent less Supply what is Going to cause massive run up here I can Already guarantee you that so I'm Holding ethereum for the long run I'm Super excited about it and I personally Think that if you're going to be buying It right now there's no Financial advice But these are my personal targets within Two and a half years and it's easily Going to do a five to seven X here and That is of course a significant amount If you're also trading this with Leverage and that is exactly what I'm Currently doing so you would write now 50 000 US dollars but in the future I Will be doing way way more money because Yes I am also prepared if ethereum goes Lower I'm just going to be buying more Margin so that was it for me in today's Update video if you did enjoy don't

Forget to slap all the like button and I'll see you guys on the next one peace Out goodbye

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