BITCOIN: IT’S A TRAP!!! [don’t be fooled]

Bitcoin is bouncing from support right Now but while this is happening I will Be discussing the most important charts Of support and resistance for Bitcoin Right now because right now I have set Up a new Bitcoin trade order and in this Exact video I will be talking about my Next Bitcoin trade I will talk about my Forecast right now for the price section Of Bitcoin and much more important stuff So don't forget to watch this video till The end it's going to be a very Important one because I will also give a Brief update on the Bitcoin dominance Whether we're going to have a Bitcoin Season or whether we're going to have an Altcoin season so don't forget to slap Up that like button on today's update Video I hope you can smash it back above 600 again and with that being said let Me jump straight away in towards the Content and first of all on that one Hour time frame for Bitcoin you can Clearly see that we are right now having A significant movement towards the Upside and then we're actually running In towards this red box of resistance That in the past also created Significant resistance and one once we Broke above it we had a significant Rally towards the upside and Bitcoin Even touched the 31 000 after we broke Above that level So currently we are Retesting very important resistance

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Yesterday we discussed it we were Creating a bullish Divergence and like I Told everyone we were to have a small Relief rally and actually like I've been Saying in yesterday's video I said as Soon as we do break above the 27.8k what I was expected to get broken since we Were creating the bullies Divergence the Next price Target is going to be 28.7 K And 28.7 K is basically the exact Range High here on the top side and you can See also on this resistance chart really This level right here provided Significant resistance in the past and Every single time we retested it we Basically saw a rejection and at the Moment we broke above it that was the Point Bitcoin really went exponential so Right now we had another retest we saw a Small rejection but unfortunately my Trade order didn't got filled up because I set up an order on 28.7 K to open up a Small short position on bitcoin Unfortunately my trade position has not Been filled yet and maybe it's not going To get filled at all but currently that Is the level where I actually want to be Shorting Bitcoin because I do believe That this is going to be an important Level for Bitcoin to be breaking above And I don't think that Bitcoin will be Breaking Above This level that easily we Can currently see that with my trade I'm Opening up a trade of an approximately

250 000 this is not my million dollar Trade that I talked about because my Next million dollar trade I will be Opening will be a trade that it will Open from the bottom and I just don't Think that Bitcoin has found its Short-term bottom yet so far I think That this is a small movement towards The upside as relief we can see here on The 12 hour time frame we're bouncing From that 12 hour support I've been Talking about and like I've said if we However what happens break below this Support level right here the next Target Is 24.6k but currently we're bouncing From it and really the resistance to Break in this case is of course 28.7 K If we break Above This is Redbox of Resistance we're confirming a break back Above it and that could lead to of Course more higher price action for Bitcoin though that is really the Question that remains to be answered so We have to be a little bit more patient For that one so looking at a Bitcoin on The Daily time frame we can of course See that the vpvr almost no volume Traded between twenty four thousand Dollars and twenty seven thousand Dollars what means that if we break Below support we could fall through it Very quickly and also what I quickly Still want to say is that on the daily Time frame for Bitcoin we're still

Creating an ascending broadening wedge What is the typical bearish bias Bitcoin Better so make sure to pay attention Towards this pattern right here because It's extremely important to be watching It and what I think is the most Important thing to watch is of course The support we have to wait and see to See if we can break below support or if We hold above support because if we Break below support that is the point Where I will be seeing a confirmation For a potential break lower if you want To be trading this this read this right Here if you want to be trading the re Test just like I will be doing as well Don't forget to check out Bobby because Bobby bit allows you to trade Bitcoin Altcoins and cryptocurrencies with Leverage so yeah make sure to sign up Again using the link description right Now because if you sign up again using The link in description you can claim a 30 000 US Dollars deposit bonus instead Of only the post bonus of four thousand Dollars without using this link so it's Definitely a win-win scenario Furthermore we can actually see that on The three-day time frame the macd is Still crossing bearish for a Bitcoin but Of course this isn't necessarily a very Big deal and on the weekly time frame of Course I'm still anticipating that we're Going to get a retest with the inverse

On his shoulders and if you're looking Closely towards the daily time frame Right now I remove all the drawings There could be a scenario the Bitcoin is Actually going to create a honey Shoulders right here right so we're Going to create that left shoulder we're Going to create the hat and right now we Have that second relief phase where we Will be creating a lower high and that Will be extremely dangerous if we're Going to see such kind of a structure so Make sure to pay attention if we break a Buff this very important red box of Resistance then probably we're going to See a further continuation up but if not And we're going to see a rejection from Of this level we come down towards the Neckline we could be creating an Important and dangerous Head and Shoulder spanner for Bitcoin so of Course this is pure speculation we do Not know what is going to be happening Necessarily but of course if we see that Rejection from of this level this could Be a scenario that is going to be Playing out and of course if we're going To create such kind of enhanced Shoulders the Bitcoin price Target could Be all the way down to twenty four Thousand dollars where is my main buy Target and I won't stop saying this I Still think that the best range to be Opening up a Bitcoin long trade and with

The lowest risk is around this region Right here that I'm currently drawing at So also a quick update on altcoins Because yeah Bitcoin is bouncing and all Coins are bouncing as well but all coins Are not bouncing as hard as Bitcoin as Well ethereum is not bouncing as hard as Bitcoin so we can currently see that the Bitcoin dominance is once again moving Back towards the upside and if the Bitcoin dominance breaks above the red Box of resistance we will will be Confirming a break above this very Important resistance range we will Confirm the breakout for the Bitcoin Dominance what means that Bitcoin is Probably going to Rally further and Altcoins are not necessarily going to Have a real nice rally and if everybody Will be looking at my next resistance It's going to be around this box right Here somewhere around 51 to 52 and that Is where I really think the Bitcoin Dominance could come in at and that is Also really the point where probably Things are going to stall and that is Maybe going to be a good time to buy all Coins again of course it's still a Scenario the Bitcoin sees a big Rejection and all coins are going to Spike but of course for that to happen We just have to wait and see how it's Going to be playing out but if we Confirm the breakout I definitely

Wouldn't be buying all coins at that Point I should still be a little bit More cautious but but of course the Higher the Bitcoin dominance will be Trading the more it will be worth it to Actually start to be buying all coins Because the potential upside is going to Be significantly higher so make sure to Pay attention towards that here but Anyways this was it for me in today's Update video it was once again a short Update video not a lot of stuff Happening and discuss the most important Support of resistance levels and this is Really where I should be looking at These are the levels to look at if we See a rejection from this level the next Support below us is 27.8k of course I'm Going to short exactly that top side of Resistance around around 28.7 K so don't Forget to subscribe to the channel right Now because then you will be exactly Staying up to date about what I will be Doing next with my trade but anyways This was it for me in today's update Video thank you so much for watching and I'll see you guys on the next one peace Out goodbye

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