Bitcoin remains to be pumping towards The upside but on today's video I will Go more in depth about the exact reasons Why this is happening I will talk about The sentiment in the market right now I Will talk about the next patterns that Are currently emerging but also I will Talk about some warning signals because We've got a massive CME Gap trading Below us right now funding rates are Shooting through the roof and many more Important stuff we need to discuss on Today's update video so yesterday we hit More than 800 likes on the update video Can we once again do that on today's Update video that will be absolutely Incredible and with that being said let Me jump straight away in towards the Imminent short term for Bitcoin and we Do know that Bitcoin has been going Absolutely exponential and that is of Course due to the fact that the Bitcoin Sport ETF is just days out and people Are not really interested in selling Their Bitcoins but at the same time we Have seen this will address that Currently is the 16 largest will out There he has accumulated more than 20,000 Bitcoin in the past three 3 to 6 Months here what is of course absolutely Massive and already today he bought more Than 200 Bitcoin and already yesterday He bought more than 1,000 Bitcoin all Alone so this is definitely a very

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Interesting Behavior what we're can Currently see this will remains to be Buying more and more even though Bitcoin Just hit $42,000 and he's just probably convinced Bitcoin is going to go much higher so on The imminent shortterm for Bitcoin we Are potentially creating a new pattern Right here you can clearly see that Right now the top side looks to be Coming the next resistance for Bitcoin And potentially we're creating this Herer sloping support line I don't Really like the touch points yet because There are not a lot of touch points but Honestly it is holding up quite well and That is a very good thing to see the Only bad thing to see right now here is That Bitcoin of course cre this massive CME gap on the Lower Side to be exact The C Futures Gap is sitting around 39.3k all the way up to 40.4k it doesn't Mean that Bitcoin necessarily has to go Back here because yeah like everyone Does know here on the channel we also Still got a C Gap sitting here around $9,000 and that one also never got Filled up 95% of all the historic C gaps They tend to get filled up that is the Thing I want to be trying to say here so Bitcoin is going of course absolutely Exponential it's forming higher lows off The higher lows and the lows are also More and more exponential and since

We're right still in a parabolic rally I Want to be telling everyone out there to Be very careful with trading Bitcoin why Is because Bitcoin could either continue The parabolic ready towards even further More or it could either dump very hard So it's very hard to say which direction We're exactly going to go towards and Yesterday and today as well the funding Rates remain to be actually quite Overweight for Bitcoin what means that The majority of the Traders right now in The market are actually Trading long Instead of short and before this period Where Bitcoin was going exponential we Were seeing that the overweighted Positions were going short the whole Time so everyone was basically trying to Short the Bitcoin relies and that is Currently not happening so that is Potentially a reason why I am a little Bit worried about this current rally on Bitcoin that we potentially could Potentially see the top being in here For at least the imminent short term Still we're getting to see some more Liquidity getting created on the top Side because if I'm looking also at the Liquidation heat map honestly I am not Going to lie the majority of the Liquidity if I'm going to be loading up Even the one month right here is Definitely laying below us and I don't Want to be a bear or a game changer or

An hater or whatsoever but honestly it Is clearly telling us that the majority Of liquidity is laying below us and that Just brings a little bit more red with Longing Bitcoin right now and honestly I've said this as well in yesterday's Video I am spot long on bitcoin only I Want to be opening up a new leverage Long position here on bybit because my Previous trade I closed it out on 39.7k And I managed to cash out more than $20,000 but I want to be opening up a New trade but I'm not going to do it Right here I'm going to be waiting for a Potential retracement on bitcoin because These TW 20 to 30% retracements in these Rallies are quite often normal so I want To be seeing a small little retracement For Bitcoin before I'm going to be Opening up my next trade I'm not going To be doing it right here I mean a lot Of people of course are super excited to Be opening up trades on bitcoin right Now but it just brings too much risk on The exact moment of time so yeah this uh Bitcoin rally as well looks absolutely Exponential and if you're approach it From here this Bitcoin rally looks Absolutely exponential we've talked About this consolidation phase for quite A while and just after we broke outside Of the consolidation range we broke Towards the upside so I mean honestly The technical analysis is still working

It's still playing out exactly like We've been predicting but honestly right Now we need to be waiting a little bit Here before I can confirm my next move Because what I want to be doing here is Of course say my next move in a good way And if I'm going to be opening up a new Trade I want everyone to win once again So in order for me to call a good trade I just need some time in the market to See clearly what Bitcoin is going to be Doing here because right now I don't Have a lot of data points about what to Exactly say about this exact move here Towards the upside so of course I do Remain that Bitcoin is going to be Strong in the coming 30 days due to the Fact that the Bitcoin sport ETF is about To get accepted so I do still think that The trend is overly going to be bullish So I'm going to be looking at long Positions only potentially if we get a Small move towards the downside that Would give us a very good entry in the Market right so that is what I'm going To be looking at right now here so if You want to be trading yourself make Sure to go to the link description of Today's video where you can claim a Deposit bonus up to $40,000 and without This link it's only 400 so it's a Win-win situation and on top of that Guys if you sign up a new account usern That link below you could claim a free

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They come very fast once again I am here Only to point out the facts Bitcoin Currently is creating lower highs only The RSI while in fact the price section Is forming higher lows so Bitcoin is Currently still creating a bearish Divergence here on the daily time frame Do I really worry about this bearish Divergence no I don't worry about it but I do want to be pointing it out and I do Want to be aware it's exactly playing Out right now why am I a little bit less Worried about this Bitcoin bearish Divergence is because right now the Sentiment is completely different with The Bitcoin SP ETF only being like 30 Days out before acceptance and that is Why the market is also moving so Strongly towards the upside and there is Really reduced sell pressure people are Not really interested in selling their Bitcoin days before the Bitcoin sport ETF gets accepted potentially not be so Strong as usually is but I still want to Be pointing out it is currently getting Created so momentum is really getting Diverged and that is of course always Important to be paying attention to Honestly the next big resistance Target Is going to be 43.2k of course Bitcoin Is currently creating eight weekly green Candles in a row and if I'm saying this Correctly I don't really think that Bitcoin has ever done this and the last

Time it has done it was 2012 eight Weekly candles in the green in a row Bitcoin is doing it right now the last Time we did seven was of course back in The beginning of the bull market and Right now we already confirmed seven and We're even potentially going to create The eighth weekly green candle in a row For Bitcoin so looking forward towards That is how that is going to be playing Out but honestly I'm super excited about The stage where we're currently in the Market honestly if we're going to see a Correction it's going to be only buying For me I am still buying more and more On my spot wallets I'm accumulating I'm Getting myself ready for the next Bull Run I think my targets are between 120 And $60,000 for the next Bitcoin Bull Run Cycle that is the target where I will be Really starting to be cashing out my Bitcoin but Bitcoin currently yeah it Had this bullish crossover on the eay Ribbon and basically the last time it Also did this was indicating the Beginning of the next Bull Run and the Beginning of the next cycle and I really Think that we're also right now in that Next cycle stage of Bitcoin so this was It for me today's update video thank you So much for watching and I hope to see You guys on the next one peace he said Goodbye

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