Bitcoin is pumping up again but don't be Fooled there are some mixed signals Coming in towards the market right now That potentially are a little bit Dangerous like this bearish Divergence Right here another bearish Divergence on The 4 hourly time frame but there are Also some other charts that are telling We could be going much much higher so on Today's update video I will talk about What currently is happening on the price Action of Bitcoin why have we seen such A significant lack towards the upside What are my resistance targets and what Could we be expecting next from this Level onward so without any further Ado Don't forget to sub the like button back Above 800 likes that will be absolutely Incredible and with that of being said Let me jump straight away in towards the Content So Yesterday even though we've Been consolidating a little bit over the Course of the weekend and I personally Was expecting Bitcoin was going to go a Little bit more sideways we have seen Another push up towards the upside for Bitcoin I mean clearly you can see this Was previous resistance we broke above It retested this level and right now After that we pushed further on towards The upside so here on the four early Time frame we create this inverse hand And shoulders pattern and the price Ciruit of this pattern is sitting

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Somewhere around $50,000 and every Single day we're coming closer and Closer towards hitting this price Target But the reason why I was expecting that Over the course we were probably going To be seeing a little bit more of a side Wish consolidation it's due to the fact That basically Bitcoin pumped Significantly on the Tuesday and on the Friday and that all happened due to the Fact that there were massive inflows on The ETF Market to be exact on on the Friday we saw the largest net spot ETF Inflow we've ever seen before of about 11,000 Bitcoin and yes if we're looking At all the data gray skill on Friday Only sold off 1,000 Bitcoins while Black Rock bought more than 5,000 of them and Also some other issuers they all bought Some Bitcoin so there is a massive Amount of Bitcoin getting bought from The open market and that is the main Reason why Bitcoin is pushing towards The upside right now and I saw also this Tweet from Julio and he's talking about That right now this move towards the Upside is very much different compared To the previous one since right now at The $48,000 there is a significant amount of Less unrealized profit margin and due to That we are and that basically is Reflecting that there are less leverage Positions right now in a significant

Amount of profit so the chance of Bitcoin actually diving lower from of This point is lower compared to the time We were last time trading around $48,000 So yeah these are some very good signals And I can already tell you if next week We're once again going to see such high Inflows on the spot Bitcoin ETF most Likely we're just going to see another Push towards the upside but I quickly Want to be pointing out that currently There is some liquidity being built up Below us again here and not necessarily Around $40,000 or what no it's build Being built up around 46.5k that's an approximately $2,000 Below the current price on bitcoin so Yeah that is the thing I'm currently Seeing there is not a lot of liquidity Being built up but it's already around $300 million us and I'm definitely Keeping my eyes wide open on it and I Want to be pointing this out and I want To be saying I'm not necessarily bearish On the Bitcoin price action right now Because I do understand if there's just More inflows on that SP Bitcoin ETF We're going to be going higher but if I Will be purely looking at my technical Analysis I can currently spot an higher High that is currently happening in the Weekend and we are creating a CME Gap And we are creating an lower high on the RSI so we're cting a bearish Divergence

Over the course of the weekend while Bitcoin is currently trading above the CME Gap and here on the 4ly time frame We're creating also a bearish Divergence While we in fact are trading in this Resistance Zone here because that is Still clearly a thing where we're Trading in we're still trading in a Range where Bitcoin could severe could See severe rejections from so it is Important to be looking at this region And not get too euphoric that Bitcoin is Just going to go up straight towards new Highs I mean honestly it could be Happening right now for Bitcoin but I Want to be seeing that clear break about $50,000 but still we are trading in a Very important region we are indeed Creating a bearish Divergence some Liquidity is being bowled up on the Lower side but the only reason why Bitcoin has been moving up is due to the Fact that we've seen a large amount of New money flowing in towards the market Due to the spot ETFs so if we're going To just see more money flowing towards The market on Monday we're most likely Just going to be seeing new highs Getting created so if you want to be Benefiting from the volatility that Bitcoin is currently creating make sure To sign up your accounts on deepin Because once I see a clear opportunity In the market and to be very clear I

Currently don't necessarily see a clear Opportunity what I want to be trading Once I does see that I will be opening Up a new trade here and I will be doing So on copy trading on decoin because This is the best exchange to do so with The least amount of latency so if you Want to be copy trading anyone else or Me in the future make sure to sign up an Account using that link below further on Here on the daily time frame indeed Bitcoin is pushing up towards the top Side of the region indeed it is looking Quite strong here the daily time frame Is indeed creating a higher high than The previous High On That chart and on The RSI and if I'm looking further on I Mean honestly I don't am necessarily Bearish on bitcoin only the IM shortterm There are some bearish signals but you Have to understand that this is indeed The time to prepare yourself for that Longer term Horizon so I am not going to Take a trade on this or whatsoever Because I still feel it's too risky for Me to do so and what I want to be doing With my trades to have the least amount Of risk is open up long positions along The way down and that is of course an Opportunity that I wouldn't would Definitely embrace so you can see also On the 5day time frame that we had that Bullish crossover on that em ribbon and Here as well we had that bullish

Crossover on the EM ribbon and basically Ever since it happened here in 2020 we Went in towards this massive boom market And why wouldn't it happen this time Around again as well so looking quickly At Bitcoin at that Weekly time frame We're currently trying to be breaking Above weekly resistance and if Bitcoin Confirms the weekly candle Above This Level we are actually breaking above Weekly resistance what is gain be a very Bullish thing here so for me also this Bearish Divergence could easily be Getting invalidated if Bitcoin confirms The break above 46.8k because if we do So we confirm a bullish weekly candle Breakout above this very important Region right here so I am going to be Looking very close towards this region I'm going to keep all my eyes open on That 46.8k because if the weekly candle Closes Above This level it is going to Be very very bullish for Bitcoin and I Will be definitely expecting we could be Seeing that continuation towards the Upside so this imminent short term I Want to be pointing out because Sometimes people get confused here I Mean on all the time frames Bitcoin is Doing something else on the weekly time Frame Bitcoin is looking super good here And here of course on the ETF flows Bitcoin is looking super bullish here on

The unchain data Bitcoin is looking Super bullish the only time frame where Bitcoin is currently looking bearish is That 1 hour and 4H hourly time frame Where were creating a bearish Divergence But nevertheless don't be also getting Fooled by this massive massive Bitcoin Bullish Hammer candle that we've been Already talking about ever since it got Formed and actually it is once again Historically playing out what has Happened previously around as well we're Just creating a gigantic pump towards The upside and most likely after we're Seeing some weeks of sideways Consolidation for Bitcoin so after the Pump is done most likely after this Weekly candle we're just going to see Some sideways consolidation for Bitcoin Just like we have seen many times before After such kind of a candle is getting Printed because yeah it is only rare That we are seeing a g it's only rare if We see a gigantic candle for Bitcoin and Then even another one afterwards so Let's see how it's going to be playing Out but definitely it's a scenario where We are going to be pushing up higher but Let's see how it is going to be playing Out this time around so I think that Still Bitcoin if we're looking in terms Of the cycle uh we're still going to be Seeing some upside but we're most likely Not going to see a new halfing before

Tim High unless this time it's going to Be different I mean yeah the Bitcoin Hing is only about 65 days out here so It's going to be happening very soon Already so this is indeed the time to Prepare yourself right now for the next Bitcoin Hing and yes if I'm zooming out Here towards that monthly macd guys we Had that bullish crossover all the way Back here in May 2023 I pointed it down On the channel and just like it has Every single time in the previous bare Markets it has been giving us the Conversion signal from a bare Market to A bull market and that is why I'm Currently super excited about the Bitcoin price action right now we are About to be entering a massive boom Market you can see it on all data I've Been sharing with you guys out there on The market the bare Market is of course Clearly behind this but the boom Market Is of course definitely next and that is The thing we need to be preparing for And a buom market you don't prepare for A bearish of virence that you're going To be selling your entire portfolio no But if we are seeing another big move Towards the downside I would be Embracing that move with both hands Because that will be massive opportunity For me to accumulate more Bitcoin so What I'm trying to do is that in a move Towards the downside I'm going to be

Accumulating more Bitcoin but also if we Were to be getting a move towards the Downside I'm going to be opening up a Massive new Bitcoin long position so This was it for me in today's update Video if you did learn anything from it Make sure to subscribe to the channel Slap with the like button and I'll see You guys on the next one peace out Goodbye

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