Bitcoin is breaking down right now and In this exact video I'm going to talk About this most important Bitcoin retest That we're currently spotting on the Market and of course I will also talk About Bitcoin on the internet short term The Bitcoin CME Gap and much more Important stuff that currently is Playing out so don't forget to watch This video till the end it's going to be A very important one and Gary once again Slap up the likes back above 500 that Will be absolutely incredible and with That if being said let me jump straight Away in towards the content because on The imminent short term we can see that Yesterday Bitcoin dumped all the way Down to 25 000 and we can see that after That we've seen a significant recovery Back towards the upside but while this Recovery was happening the Bitcoin see Me price already closed and currently The CME close price is 26.5 K what means That Bitcoin is probably going to trade Somewhere around 26.5 K near the end of The week and of course we're going to Trade higher than 26.5 K we're probably Going to expect a dump on the Monday and If we're going to trade below 26.5 K We're expecting a small little pump on The Monday if I am currently looking at The following time frame we of course Clearly seen the breakdown for Bitcoin And currently we're in a significant

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Downtrend and the question really is When is the downtrend going to refer Right now we're seeing that we're Clearly creating these lower highs Together with these lower lows and Basically the question is when are we Going to see a reversal currently I am Not spotting a reversal yet so far but For me what I would really call A Reversal if Bitcoin breaks back above This very important level of previous Support you can see on the 8 hour time Frame previously ran Bitcoin really fan Support on this level you can see right Here we retested this level Bitcoin Balance from it here as well Bitcoin Retested this level it bans from it and Currently we broke below it and we're Actually seeing that this level is Providing resistance right now for the Price action of Bitcoin so if Bitcoin Breaks back above this region so if Bitcoin breaks back above 27.2 K I'm Expecting probably the cool face is over And we could see some more slight Bullish relief for Bitcoin however if we Do still get rejected from all this Level what it currently looks like it is Actually going to be more likely to see A bigger continuation towards the Downside and I'm not saying that Bitcoin Is going to crash straight away towards The downside no I'm only saying that This downtrend is going to continue so

We could see some bullish relief before Potentially coming lower again and we Could see some more bounces before Potentially coming lower again so be Aware if I'm saying we're bearish right Now it doesn't mean that we necessarily Have to crash but we're definitely in a Downward sloping Trend here so if we're Looking actually at this trend right Here we could be potentially looking at Somewhat of a barrel Channel you can Actually see Bitcoin can still bounce Back towards the 29 000 and in fact it Would still be trading in the downtrend So be very much aware the Bitcoin price Action is still trading in the downtrend The question really remains where are we Going to be bouncing towards are we Going to already see that movement Towards the dancing happen or are we First going to see a bigger bounce for Bitcoin and of course for me to really Say that I mean we are currently Breaking down of the hand and shoulders Pattern for Bitcoin and to be very Honest I've been bearish on bitcoin on Thirty one thousand dollars and I've Been bearish on bitcoin on 29 000 and I've been saying it all time around that We were creating this honey shoulders Pattern this typical bearish Vice Continuation pattern for Bitcoin and Actually right now we also broke below The airport stopping support line after

We broke below this level there could be Still a potential scenario where Bitcoin Is going to see a potential retest of This level that will allow us to of Course open up a new short position for Bitcoin but if I will be looking at the Price Target it's going to be somewhere Coming in around 24 to 24.5 K so that is Exactly the target I'm currently aiming For currently I am still shorting Bitcoin I'm not going to close this Trade here because personally I do think Bitcoin can still go a little bit lower And that is why we'll wait to lock in More profits on this exact trade right Here so yeah if you're interested in Trading yourself you could do so and buy It and you can write an assignment but Again using the link in description and You can actually claim a 30 000 US Dollar deposit bonus and for anyone Wondering I am going to be opening up a Gigantic Bitcoin long position once Bitcoin comes down to 24 to 25 000 first I'm going to do it with low leverage and I'm going to be targeting for a 1 Million US dollar Bitcoin quantity Position I will be starting to open up That position for 25 000 because the 25 000 is right now the next big level of Big support for the price action of Bitcoin and that is why I'm aiming for That level to be opening up this next Gigantic Bitcoin trading position of

Course on The Daily time frame we broke Down so I'm actually expecting it's Going to be likely that we're going to See a small continuation happening Towards the downside before potentially Coming back up again and if you're Interested in trading Bitcoin altcoins Or any cryptocurrency at all you could Do so on Bobby bit or bigot and if you Actually sign up again using the link in The description you can write a claim an Additional deposit bonus up to thirty Thousand dollars but be aware it's only Going to be valid if you sign up an Account using the link in description so Make sure to check it out right now Furthermore we can see that if I am Looking at Bitcoin of course we broke Below 27 000 but right now entering this Low volume range so probably we're going To see a very big amount of volatility Ability happening towards the downside In the coming days at least that is what Is likely in terms of technical analysis If we're looking at two levels of daily Support we can see right now the next Big support for Bitcoin is 24.8k and we Actually broke already below the 27 000 US dollar support so probably I'm still Saying this I am expecting a Continuation towards the downside it's Probably very likely for Bitcoin if we Do bounce back towards the upside and we Break above the previous High probably

At that point we could call reversal and Probably going to go higher so I'm Getting to keep my eyes wide open on all Scenarios but for now on my main Scenario is still to open up this Gigantic long position somewhere around Twenty five thousand dollars furthermore We can see the Bitcoin is currently Breaking below the daily EMA ribbon this Is of course definitely a very bearish Signal that we're currently seeing but If we're looking at the three-day time Frame we can see the Bitcoin is still Holding up towards the three-day email Ribbon the 3D email ribbon lows are Somewhere around twenty five thousand Dollars if we do break below that yeah It could maybe signal some more bearish Price action is yet to come for Bitcoin But I do still think that the email is Probably going to provide a significant Amount of support for Bitcoin so don't You worry about that one as well Furthermore we can actually see that This is my expectation for Bitcoin right Now that we're going to be ranging Between these two levels so Bitcoin is Of course previously around got Significantly rejected by off this top Side right here so previously around in This range Bitcoin got significantly Rejected by this level and if we're Going to retest this level this time Around I do expect this level is going

To be providing a significant amount of Support so that is why I think the Lower Side here is really the support where we Should be looking at and it's going to Come in somewhere between 24 to 25 000 So be aware I think there's going to be A major bounce for Bitcoin happening Somewhere in that region furthermore we Can actually see that on the six day Macd for Bitcoin right now we're seeing A bearish goes over and actually on the Weekly as well we're about to be having A bear School server on the macd but This is the first time ever that the six Day macd is crossing bearish since in Approximately 281 days so be aware there Are some very important momentum changes Happening right now in the market of Bitcoin and you need to pay attention Towards it because because the weekly Macd could be Crossing bearish as well Somewhat in two weeks or so so this is Definitely something you should be Paying attention towards and yeah of Course once we do see this crossover Happening you will be the first one to Know on the channel and at the same time I will be looking at the 50 weekly Moving average you can see that the 50 Weekly moving average previously around Provides significant resistance it Provided big support here on the lower Side and currently it's trading Somewhere around 22.5 K so if we will

Ever see the retest of this level Happening right here it will definitely Be a gigantic opportunity to trade Bitcoin of course if we do them break Below this level it's going to be a big Big issue but of course if we're going To be having a retest of the 50 weekly Moving average it's going to be a Gigantic opportunity for me to be Opening up an even bigger trading Opportunity for Bitcoin so yeah that was It for me on today's update video was Once again not a super long video not a Lot of new information but these are Just the things we currently are looking At thanks so much for watching and I'll See you guys on the next one peace out Goodbye

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