Bitcoin is right now on the verge of Having a breakout on this asending Triangle and at the same time we're Seeing more than 2.5 billion US dollars In Bitcoin short liquidations laying Somewhere around that 38.7 to 38.5k Level so in this exact video I will be Discussing this I will talk about where The liquidity lays in the market I will Talk about this very interesting Bitcoin Futures price that currently is trading Around 38.4k well in fact the Bitcoin spot Price is trading around $38,000 us so I Will be discussing this and many more Important takes here on the market right Now so without any further Ado don't Forget to slap the like button on Today's update video can we smash it Back up at 400 that will be absolutely Incredible with that of being said let Me jump straight away in towards the Content and yes really looking at that Imature term for Bitcoin we can see that Once again Bitcoin got rejected from This very important level of resistance And ever since we moved towards the Downside a little bit here but still Consolidating above 37.6k what is of course a very good Thing in general for Bitcoin you clearly Saw that yesterday once again Bitcoin Went towards the upside to take the Liquidity out of the market and that is

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Exactly what happened and and that was Of course exactly what we predicted in Yesterday's update video so right now Honestly once I'm looking at Bitcoin if I purely look about where the liquidity Lays in the market how the structure is Forming and what the sentiment is also In the market I honestly won't be Surprised that Bitcoin once again is Probably going to be crushing further on Towards the upside so before for me Going further in towards the charts I Quickly want to say that currently the Bitcoin Futures price is trading around 38.4k and that is really an interesting Signal because of the semi Futures price Is trading so much higher it is right Now looking like a lot of Institutions Are actually stepping in towards Bitcoin And due to that we're seeing the SEI Futures price getting prompt up more Than the actual Bitcoin spot price so Right now institutions are probably Pumping up Bitcoin quite heavily and That is a very bullish development in The background that currently is playing Out here one qu small thing I want to be Pointing out here is that yesterday Indeed we created a bearish Divergence On the price section of Bitcoin and we Did indeed have to move towards the Downside right now the bearish Divergence has already played out and Honestly we could see a next move

Getting created from of this point Onwards looking at the 12-hour time Frame we can see that Bitcoin clearly Boun some of this downward soing Resistance line that previously was Resistance and right now clearly flipped Into support and honestly price target Of this breakout towards the upside I've Been discussing it for quite a while is Going to be 39.7k and that Target from of this point Onwards is still a little bit higher to Be exact the target towards the upside Is still in about a 4 and a half% move Towards the upside so I can't wait to See this target being reached there but Honestly if we're going to be looking About where the liquidity lays in the Market so I've been using the Bitcoin Liquidation heat map for the past two to Three years here honestly in the bull Market it was a very good tool here Because what Bitcoin is basically doing It's chasing ing the liquidity in the Market and as long as a lot of people Keep shorting this move towards the Upside there will be a lot of liquidity On the top side so due to that it is Likely that Bitcoin is once again also Going to go towards the upside since at This current time of the market the Funding rates are not even negative so Yes while Bitcoin is sitting on 37 or 38,000 sometimes the funding rates is

Not even negative and people are Actually shorting this quite heavily And currently we got an about $2.5 Billion US in liquidations laying above Us right now here in this 38.5 to 38.7k Region and honestly due to the fact that There is so much liquidity laying over There I won't be surprised that Bitcoin Is actually going to be pushing towards The upside to potentially liquidate all These positions out of the market Because that is usually what happens Bitcoin follows the liquidity in the Market so right now the majority of the Liquidity is laying up above us so I Won't be surprised that we are going to See a big big short squeeze and Potentially maybe Bitcoin is going to Come down here but there is less Liquidity on the lower side so I will be Expecting it game to be towards the Upside but ran the $ 36,000 use level There's also 1.1 billion use in Liquidations but the $ 36,000 use is Just a little bit further away I've been Using the liquidation heat map for quite A while right now and actually ever Since we used it on the channel we've Been very successful with it and I see a Lot of other creators on the internet Are starting to use it right now as well In their daily analysis and also on Their daily Twitter updates so you have To know where you came from and of

Course I was the one that wen't everyone First from it and everyone saw okay Rover is making so much profits by it so I will be starting to use it as well so Make sure to keep that in mind going Further in towards the content only 40 Days left before the final decision is Going to be there for the first Bitcoin Sport ETF it's going to be of course the Arest SP ETF it's only 40 days left guys Make sure to pay attention right now Here because I really think the Sentiment is going to become extremely Bullish in these last 40 days and also Due to the fact that all these issuers Have been refiling their ETFs it also Basically means that it is very likely That they're working together with the SSE closely right now and that is why It's going to be likely that it is Actually going to get accepted so Bullish things ahead of ourselves right Now on bitcoin on the 12-hour time frame We broke out of this assing triangle and Currently are sitting on this support Here what is actually looking quite good Here in in my opinion but on the daily Time frame right now we have not been Breaking out of the ascending triangle Yet so far so I'm going to be keeping my Eyes wide open on the ascending triangle Bitcoin is creating a beautiful Ascending triangle and honestly the Price taret of this of this ascending

Triangle as well is laying around the Top side around 39.7k here and honestly Right now it looks to be that we're Potentially retesting this level of Support but I will be also approach it From the daily time frame where we have Not seen a confirmed daily candle break Above it yet but honestly if I see the Daily candle for Bitcoin confirm a close Above $38,000 it would confirm breakout And then I would get more follow through That this breakout is actually going to Be happening for Bitcoin so at the same Time ther remains to be injecting more And more money here and we can actually See the market cap continue to rise Towards the upside and guys if you want To be trading this yourself I've Currently got a trade open here on bybit You could be trading yourself as well if You go to the link description of Today's video sign up an account you can Claim a deposit bonus up to $40,000 and Potentially you could even claim that Free $1,000 air position on buybit and All you need to do here is complete kyc Deposit $100 in your first s days and You have to be signing up using that Link below so if you want to be claiming This free $1,000 make sure to go to the Link description of today's video but if You can't use bit anymore due to any Reason whatsoever make sure to check out FX FX is an exchange where you don't

Need to do kyc and it's also like very Similar to buybit and I really like the User interface as well so if you're Interested in trading over there make Sure to go to the link description of Today's video because they are launching Their own token as well later today and You could be claiming some free tokens If you sign up using the fix Link in the Link of description of today's video so Make sure to check it out it's super Super valuable further on we can see That Bitcoin of course currently remains To be struggling against that $38,000 Level and of course one of the most Interesting things here that currently Is actually playing out here is that Bitcoin is currently creating seven Weekly candles in a row in the green and The last time that this happened was Literally at the beginning of the Previous Bull Run and the last time Before that was of course at the Beginning of that pre-o market phase After the pandemic crash so this is a Very very important signal that we're Currently seeing in the market seven Weekly Bitcoin green candles in a row And it is once again flashing right now So make sure to be paying attention Towards this very important signal That's currently flashing further on we Can also see that actually of course on The weekly time frame the EM ribbon flip

Bullish I talked about this many weeks Ago already but yeah you can clearly see Every single time once it flip bullish It basically was indicating that we are Entering a new stage in the market and Currently we are clearly entering a new Stage in the market where Bitcoin is Once again finding its way back towards The upside again here so Bitcoin is Looking very strong right here and Honestly guys this was it for me on Today's update video I truly hope you Did like it if you did like it 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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