Bitcoin is right now retesting the 0.786 on the Fibonacci and historically Speaking Bitcoin always tend to be Breaking Above This level very quickly And once it does so the big Bitcoin Bull Run starts so on today's update video I Will be discussing this the imminent Short term on bitcoin where Bitcoin is Losing somewhat of its momentum I'm Going to talk about why Bitcoin is going Upwards what are my price targets what Happened with the Bitcoin spot ETF flows Because once again we've seen another Day of massive inflows on the market and Many more important data points that I Will be discussing I will talking about The funding rates do we need to worry About this right now so without any Further Ado guys 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 let Me jump straight away in towards the Content so here on the imminent short Term Bitcoin of course has seen a Significant pump towards the upside and Ever since we've actually hold the price Action still above the $47,000 which is very strong for Bitcoin But in the meantime I've seen some People on Twitter say that yeah Rover But while we are coming up here we're Seeing lower highs getting created on The RSI and higher highs on the price

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Section so aren't we right now creating A barriers Divergence and a straight Away want to be pointing out yes indeed We are in fact creating a small little Barish Divergence on the imature term But as we do know here in bullrun we Usually tend to create a lot of these Bearish divergences but they eventually Always get invalidated so I would be Definitely a little bit more cautious With this and indeed while Bitcoin is Creating this barar Divergence we're Also breaking out of this bull flag Pattern which has a price Target around $62,000 so I shouldn't be all too Bearish right now on the IM short term And while this has been happening Yesterday we have seen another day where More than 570 million US Dollars flew in Towards the spot Bitcoin ETF and while This has happened and more than 500 Million US dollars worth of bitcoin was Bought by Black Rock Only from yesterday Which is of course insane this was the Largest daily inflow on Black Rock we've Ever seen before and while that has been Happening we've seen on the Black Rock Spot ETF we have been clearly seeing on The chart that the volume is rapidly Increasing so there's more and more Institutional interest that wants to be Buying their Bitcoins from Black Rock And in the what is it like first 32 33 Trading days we've already seen them

Accumulate over $6.5 billion US dollars Worth of bitcoin which is of course Absolutely insane it is absolutely Insane we have no other words for it and If this trend just continues upwards Bitcoin could create as many bar Divergences as you want but still we're Not going to go down if we're going to See more than $500 million dollars in by Pressure getting entered in the market Every single day because yesterday more Than 9,000 Bitcoins were bought from the Open market well in fact only 900 are Produced from these Bitcoin miners so We're buying exponentially more Supply Up than is getting created and after the Bitcoin Hing which is going to be in an Approximately 55 days from now on it's Only going to be more exponential Because then we're only going to have 450 big Bitcoin being produced every Single day so what is happening right Now is actually very insane and I've Talked about this yesterday as well the Funding rates on bitcoin they have Significantly come down compared to Yesterday but still the funding rates Are very positive across many other Altcoins and of course Bitcoin and this Usually caus a little bit of panic Across people and honestly I do Understand it because once the funding Rates are usually High it means that the Majority of the people are actually

Longing Bitcoin or longing these other Altcoins and that could potentially Worry you but I want to be pointing out Like I said yesterday as well this is Very normal to happen in boom markets I Mean we clearly see that once the fing Rate is extremely negative uh which Happens also all the time in bare Markets it is usually a good time to be Entering the market and usually if we Are in these kinds of stages of the Market where the fing rates does turn Negative it is always a good opportunity To be entering a long position but right Now if we're looking back at the Previous Bull Run in that previous Bullen we saw the funding rates being Constantly positive because everyone was Super euphoric every 34 Bitcoin was only Going to go up and due to that it was Actually very nice to be going in Towards this move and due to that it was Actually very nice to be benefiting from This lag towards the opposite because Everyone was super euphoric it's Basically a signal that everyone is Euphoric and everyone thinks it's only Going to go up so why would it actually Come down because yes if no one from all The Bitcoin holders is selling it is not Going to be going anywhere right it's Only going to go up and that is Basically the stage where we're Currently also sitting in and if we are

Having a stage in this rally towards the Op where we're currently sitting in just Like over here in the previous bullroom Where defending rates dip negative or go Back to neutral it is actually a signal That you have a very good opportunity to Be opening up a new Bitcoin long Position so whenever we're going to be Having a correction I'm going to be Taking this chart up again here and I'm Going to be looking okay is the funding Rate right now coming down is it Becoming negative because that would Actually allow us to be opening up a Strong new long position in this upward Slopping Trend we're currently trading In because that is still the thing we Would like to to do right so further on We can see that there is not a lot of Liquidations getting formed right now in The market we're currently trading in I Mean yet still around 50,500 there's an Approximately 1.7 billion US do in Bitcoin long liquidations but we are Quite far away from that an Approximately $77,000 us so I don't Expect we're going to be going towards That level anytime soon but I want to be Pointing out it's $ 1.7 billion so it's Quite a lot if bigcoin were to be having A correction down to $54,000 then I Would say we're probably going to uh Also get that $50 th000 liquidity out of The market but for now on it doesn't

Really seem all too likely so going Further guys if you are interested in Trading or copy trading anyone out there Make sure to go to decoin because I've Seen some of these copy Traders right Here trade on Pepe and they have make Insane insane profit so if you want to Be joining them or me on copy trading Make sure to go to the link description Of today's video because you can only Join copy Traders if you r a sign up Account using that link below because It's right now for only a limited amount Of users so if you want to be doing so Go to the link description of today's Video so going further in towards the Content we do know that yesterday the Bitcoin weekly candle while we were Pushing up has seen in high not seen in 890 days which is of course quite insane And right now if we're going to be Measuring the high that Bitcoin created Yesterday we are only in approximately What is it 177% or 18% pump away from The Tim High which is very insane to be Exact 19.8% so we're only 19.8% away From the altime high Bitcoin is coming Very close right now this time around And I mean is this a time where we Should be getting worried that is the Question that I'm getting quite a lot Here because we are right now Approaching the 0.786 and like we do know the Bitcoin

Hing has not happened yet and Historically speaking Bitcoin never Forms the new altimi before the next Hing and is it going to be different This time around that is what it looks To be that it is going to be here and if We're looking back at the previous cycle Looking at the Fibonacci we do know that As soon as we broke above the 0.65 we Instantly went towards the 0.786 and Once we Consolidated for one week rent To 0.78 St we crushed through that as Well and we straight away went towards New Tim highs and at Tim highs we Consolidated for 4 weeks so what is Happening right now exactly the same we Crushed through the 0.65 and straight Away instantly pushing up towards 0.786 And if we were to be breaking above 0.786 which has historically speaking Every single time happened once we were In that bull market territorium we Straightway went to up towards the new Alum high and Consolidated for around Four weeks around at Alum High to of Course clear all the cell pressure and Then just instantly push up even higher For Bitcoin so this is a thing that is Very interesting to be seeing history is Once again repeating and if history Isn't indication it does really mean That within four to five weeks from now On we are going to be seeing new Alum Highights but like we do know in four to

Five weeks from now on it is still not Going to be the Bitcoin Hing so are we Right now going to be performing a new Ultim high before Hing like you can see Every single time the Bitcoin bull Market cycle get initiated due to the Bitcoin Hing but this time around I Believe that the Bitcoin bull market got Initiated due to the fact that we had That Bitcoin spotf and billions and Billions of dollars are literally Getting bought due to the fact that We're having these large inflows from All these large institutions that are Actually preparing themselves for that Next Bitcoin bull market so things are Different and due to that I could be Expecting we are going to create a new Altim high before Hing it is definitely Possible but it would be something that Has never happened before so this cycle Is probably also going to be different I Don't know exactly uh when I could call For a top on the market I need to be Doing some more analysis about it I need To do some more research about it how Long this Market cycle is going to be Lasting but I mean in the end of the day History is once again repeating the bare Market is over we are currently in a Bull market we are in a bull market and This is the time to prepare maybe let's Say we're going to get that slight Rejection like we see every single time

Before the Hing or around that Hing for Bitcoin and then the bull market starts But anyways we are not far away from it And if we were to be getting a Correction before Bitcoin Hing which has Happened every single time historically Speaking so I'm not counting it out at All it will only be a great opportunity To prepare yourself for that next Bitcoin Bull Run so this is the time to Prepare yourself this is not the time to Get fooled Bitcoin is breaking about $52,000 and on the weekly time frame Historically the next resistance is just $60,000 and we're just only $3,000 away From it it doesn't seem all too unlikely That we're going to be heading towards That direction anytime soon especially Since the ETF inflows are still Extremely high and I mean today I'm not Going to talk about any altcoins because Yesterday I made a video on altcoin Rover I am selling my Bitcoin to buy These altcoins I believe this is a very Good video if you want to learn a little Bit more about why I'm currently Stepping in towards altcoins make sure To check it out I will leave a link Description of today's video check it Out and I'll see you guys back on Tomorrow's another update video here on The channel peace out goodbye

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