The Bitcoin volume is still dropping Significantly while Bitcoin is in the Middle of this gigantic compression Phase so we are about to be having that Next move and on today's update video I Will be explaining about where I think The next move is going to be heading Towards because right now we are seeing That the OTC desks are running out of Bitcoin and this is a massive thing so I Will be explaining this on today's Update video I will talk more about the Imminent short term the longer time Frame on bitcoin and many more important Charts so without any further Ado don't Forget to slap that like button once Again back above 1,000 likes that will Be absolutely incredible and with that Being said Le me jump straight away in Towards the content so looking at the Imminent short term here on bitcoin we Are clearly creating a downward sling Resist line an upward sloping support Line on the lower side and basically We're seeing somewhat of a price Compression here on the price action of Bitcoin and while this is happening the Volume is dropping very rapidly and and This is a clear indication that a Gigantic move is going to come from for Bitcoin first of all it is indeed Weekend and over the course of the Weekend volumes usually tend to drop Here but usually once Bitcoin is

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Creating sideway price action after a Parabolic run towards the upside and the Volume is dropping and we're creating a Lower low and we're creating lower highs And higher lows at the same time it Means that we're in the middle of a Compression and once Bitcoin breaks Outside of this compression which is Most likely going to be happening at the End of this day or at the beginning of Monday because right now still we are Creating a semi futes Gap because right Now it is weekend Bitcoin usually tends To trade around that semi close price And in this case the semi close price is Sitting around $62,400 and so far over the course of This weekend we've traded below it but Like we know just like we had last Weekend as well it doesn't matter where We are exactly trading well it is Weekend it all matters where we're Trading at the end of the weekend and That is usually around that see me close Price so I am really expecting if we're Not going to be moving up today we're Going to be seeing a slight little move Up tomorrow tomorrow on the price action Of Bitcoin once again here so still I am Extremely bullish on bitcoin especially Due to the fundamental reasons right now Here I mean I can go into all these Charts here because Bitcoin indeed Created a massive bull flag pattern

Broke towards the upside and right now Potentially is creating another one like You can see because once again we're Consolidating sideways and and the Longer this consolidation phase is Actually going to be lasting the more Significant the Bitcoin breakout towards The upside is going to be in my opinion But the point that I'm trying to make Here is that of course the main reason Why Bitcoin has seen such a significant Push towards the upside was due to the Fact of these large buys from the spot Bitcoin ETF I mean on Friday and Thursday we saw large outflows but we do Know that currently Genesis is unloading $1 1.1 billion US dollars worth of Bitcoin because they went into Bankruptcy and they have to be paying Their customers and that is why they Need to sell their Bitcoin out of the Gbtc fund so that is most likely the Reason why we're seeing these large Outflows on the gbtc right now but still While in fact this is happening because There's been so so much buying going on In the last few days here like we know More than 7.3 billion used dollars worth Of bitcoin is bought ever since the Bitcoin SP ETF launched and we right now Can clearly see that there is almost no Bitcoin available on OTC which means That there are not large entities that Are willing to sell off their Bitcoin

Over the counter and because that is not Available right now here what black Rook Needs to do is literally buy off their Bitcoins from the market and if they buy It off from the market that is causing These massive pumps towards the upside And that is what is costing these Massive candles even though we are Sitting around $60,000 so this is of Course quite insane to know and as Tomorrow the spot Bitcoin ETFs are going To go live trading again here we are Expecting that already tomorrow we could Start to see that next squeeze happening For Bitcoin and like I said several Times before if we were to see somewhat Of a reaccumulation and somewhat of a Flag pattern getting created again that Would only be more bullish for Bitcoin In the end of the day so going even Further guys you have have to understand That that Bitcoin ETFs or any ETFs or Whatsoever they don't grow overnight it Takes sometimes years for them to grow Here and and this is one of the examples Of the fastest growing ETFs out there in The market it reached 37 billion US Dollars in the first five years and it Wasn't in the first day so some things Can take years to be building up here And I do believe it's going to be the Same for Bitcoin but already we're Seeing very positive signs on the Imature term as well fing rates they

Remain to be extremely high on bitcoin Which means that afan is basically Opening up long positions not only on Bitcoin but also on a lot of altcoins on Dogecoin and if you know you know but in The last bull market as well on bitcoin We clearly saw funding rate spiking Significantly and this historically Speaking was a very good opportunity to Actually entering the market so once Again I am not necessarily panicking Right now that the fitting rates are Spiking it is once again a signal that We are clearly in a Bitcoin Bull Run and Guys if you want to be benefiting from This breakout pattern that is about to Be breaking out again and if you want to Be trading it make sure to go to decoin In the link description that is an Exchange where you can trade with Without any restrictions since a lot of Exchanges are implementing restrictions You can trade on decoin without any and Guys if you're r a sign up an account Using the link below you will be also Eligible to be joining copy you will be Eligible to join me as a copy Trader or Any of these other copy Traders out There in the market so make sure to go To decoin check it out in the link Description of today's video because you Will also get an insane deposit bonus And honestly in the bull market trading Bitcoin is one of the most enjoyable

Things to do here and it is extremely Profitable because Bitcoin is just only Going up here so once again I am looking To be opening up a new trade and like I Explained on my previous videos but like I also tweeted about it looks to be that The new standard for this Bitcoin bull Market that we're going to be having 20% Corrections instead of like a 30 to 35% Correction so once Bitcoin is going to Create one and 20% correction I will be Definitely starting to be opening up new Big long positions and in this case it Will be around $52,000 but if Bitcoin First creates another push-up higher and Then Cent it could be a little bit Different but of course if you are Subscribed to the channel right now I Will keep you guys up up to date exactly About this and like we also know in 52 Days from now on the Bitcoin Hing is Going to be here 52 days that is almost There and like we know historically Speaking every single time once the Bitcoin Hing comes we tend to see a Little bit of a correction around the Bitcoin Hing because using that is the Point where the hype really dies out a Little bit here so let's see how it's Going to be this time around because it Looks to be they were already creating Almost a new alite before the whole Thing which is something that has never Happened before but like I said we're

Right now having that SP Bitcoin ETF the Which is changing the market up Significantly and potentially is also Influencing it so I will be just Approaching this as a normal bull market And like you know from the previous bom Markets once Bitcoin breaks above the 0.786 it takes another three weeks Before reaching aom highs and currently Indeed we are about to confirm the Weekly candle close and that will be Confirming the break up of 0.786 and Then it would take another three weeks Towards aliz and then once we break Above timi it takes four weeks to reach The F first extension level if history Is an indicat because in the last three Bull markets it always took only four Weeks before reaching that 1.618 Extension Fibonacci level so I will be Expecting something something similar is Going to be happening so I'm going to Keep my eyes wide open on the Fibonacci Because the Fibonacci is one of the best Tools to discover and to predict where Bitcoin is heading towards and my Ultimate buom Market Target is around The $176,000 US which I would say okay if we Reach this target I'm going to be taking Some significant profit from my Portfolio so yeah that is my strategy Right now but of course as time Continues I'm going to be more making

More dedicated videos about how I'm Going to be scaling out of Bitcoin and What my strategy is going to be make Sure to subscribe to the channel if You're want to be learning about that And of course guys ethereum is currently Sitting rent at 0.618 we're about to Confirm the weekly candle above that Level as well which is extremely bullish And just like Bitcoin did it took us Only one week to reach that 0.786 which I am expecting as well for ethereum to Do a somewhat of a comeback season I Mean if we're right now looking and Removing all the drawings on ethereum we Are indeed approaching one of the most Critical levels of resistance so Honestly if we do break Above This level There's not much resistance left for Ethereum and most likely we're just Going to be flying up towards new Tim Highs which makes me of course extremely Bullish so this was it for me in today's Update video I truly hope you did learn Something from it if you did so Subscribe to the channel stap the like Button and see you guys back tomorrow on Another update video peace out goodbye

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