Merry Christmas for the L day out there But at the meantime Bitcoin has seen a Significant correction towards the Downside and right now is retesting one Of the most important support levels out There in this entire Trend so I will be Talking about this level about the Liquidation heat map where is liquidity Laying in the market right now to see What we're expecting what is going to be The next move for Bitcoin I will talk About some news that we right now need To discuss on today's update video and Many more important charts so don't Forget to slap up the like button back Above 700 likes and with that being said Let me jump straight away in towards the Minature term on bitcoin so like we can Currently see Bitcoin has seen another Significant move towards the downside But right now here on that one hour time Frame Bitcoin is actually creating a Bullish Divergence since the price Action for Bitcoin is forming a lower Low and the RSI is forming a clear Higher low so Bitcoin is indeed creating Right now a bullish Divergence on the Imminent short term but the main reason Why I'm not necessarily panicking right Now on the imminent short term is of Course due to the fact that the Bitcoin Black Rock Spot ETF is about to come but I will talking more about this very Important news later in today's video so

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Make sure to keep watching so on the Imminent short term what we also can Currently see is that still the Liquidity remains to be on the top side And we're seeing in worth an Approximately 900 million Us in Bitcoin Short positions going to be getting Wiped out if Bitcoin reaches that 44.6k Level but a thing that really is Worrying me a little bit here is that Altcoins are heavily getting longed here Out there in the entire market and also Bitcoin is heavily getting longed on Several exchanges and due to that the Funding rates are extremely high and yes Usually once funding rates are extremely High it means that the top is near or The top is in but personally it looks Like no one is really willing to stop to Be longing Bitcoin and they are just Paying the premium price to be opening Up their position Bitcoin right now as Well on the 4 hourly time frame is Sitting maybe at one of the most Important support levels out there it is This upward sloping support line you can Clearly see every single time Bitcoin so Far has been retesting this exact level We have seen it bounce from it for the Last three times at least and right now Bitcoin is once again retesting this Exact level so this is a very important Level to pay attention towards maybe Bitcoin is even creating this downward

Sling resistance line from the top side And creating a massive consolidation Pattern but in my opinion I'm Approaching it as an horizontal level of Resistance and we're creating somewhat Of an ascending triangle so this is very Important support for Bitcoin and if we Really break below this level that is a Point where I would really start to Worry a little bit here because if Bitcoin breaks this support level right Here we're definitely most likely going To be looking for lower targets and I Mean if I'm going to be approaching Bitcoin from hor horizontal perspective We right now broke below this very Important box right here and the next Support for Bitcoin is sitting around 42.3k at least that is where the big Support is laying but we do right now Also know that on the imminent short Term we're creating that bullish Divergence we are having the big level Of support that has been providing Support for Bitcoin for already over 34 Days in a row and ever since we retested Level the uptrend was getting initiated So I don't really think that this is Going to be an easy level to break below Of and if we break below this level here To be very clear I do think potentially We could be heading lower and for Everyone who's been watching the channel For quite a while that already knows I

Mean I still have my big trade order set Up around 39.7k I am not necessarily expecting That these are going to get filled up Here but if I do get the opportunity to Be opening up a massive long position Around the 39.7k I would definitely take It with both hands why is because I Personally still believe that we are Going to be having a final push towards The upside and I'm going to talk about That a little bit later in the video but If you want to be trading Bitcoin Yourself don't forget to check it out in The link description of today's video Where you can currently claim an insane Deposit bonus worth $40,000 and on top of that you could Claim a free $1,000 if you sign at Account using that link below complete Kyc and deposit $100 in your first seven Days and if you can't trade on buybit You can check out FX where you could Also trade without kyc and you could get A free 10% cash back on everything you Deposit let me right now explain about Why I don't really think that this is The best time to be panicking on bitcoin I mean on the larger things of it all it Is just a minor correction towards the Downside and I honestly do really think We are going to be having that final Pushup towards the upside once the black R Bitcoin sport ttf is coming close

Towards acceptance right now we're only Eight days out before we're entering the Window of acceptance for the Bitcoin Black Rock Spot ETF that is literally Nothing we're almost there and just Yesterday as well the SEC is literally Stating that if you want to have a Chance of approval in the first wave you Just have to fall before the December The 29th so due to that we're also Clearly seeing that it is going to be Very likely that we're going to get that Bitcoin spot ETF and I mean due to the Fact that black rock is even buying an Additional 10 million us on the third of January two days before the window opens For acceptance uh makes also the case Only more and more likely that we are Actually going to see that Bitcoin SP ETF and I can guarantee you there is Going to be a massive amount of hype in The market and even more buy pressure Once the ETF is going to get launched All this new money this old money from These older people from wall stre is Going to be flowing into Bitcoin and This is going to be doing something with The price that many are not expecting so Yes right only a INE short term we're Running in towards resistance the Bitcoin dominance is seeing a slight Decrease with altcoins are having a run But still I do think that Bitcoin is Going to be having a takeover season

Once that ETF comes in the spotlight Again and once it is going to get Accepted so that is what I'm currently Looking at I mean for the imminent short Term there are not a lot of new things We can currently see here I mean right Now potential on The Daily time frame it Looks to be that Bitcoin is creating a New symmetrical triangle but we have not Seen the breakout yet here I mean Bitcoin is still trading on support we Have not broken the support yet so far We've not broken the resistance on the Top side we're just waiting for that Next move to get initiated and if you Get a trade right now in the right place You could make a ton of money and Literally right now Bitcoin is sitting On that support line where I think many Many people will get fooled because People think oh Bitcoin is once again Coming down here we should be worried Because it broke below this very Important support box right here but to Be very honest we are right now Retesting this 34 day uptrend that you Need to be paying attention towards so Make sure to do whatever you want with This information But I think it's very important to be Looking at the support line I don't see A breakout yet here I still waiting for That next move to get initiated and once It get initiated guys we are going to be

Seeing another massive move for Bitcoin So it's going to be happening anytime Soon give it maximum like one to two Weeks before the Big Move is going to be Happening but it is happening anytime Soon so thank you so much for watching Towards amazing new update video I hope To see you guys on tomorrow's update Video and with that being said thanks so Much for watching and see you guys on The next one peace out goodbye

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