Bitcoin is right now breaking bearish And in this exact video I will talk About the price targets that are sitting Below us right now I will talk about the Bigger support the biggest resistance All the things that you need to know About this current ongoing Trend and is Current ongoing move towards the Downside right now so without any Further Ado don't forget to slap all That like button on today's update video I will talk about the gigantic breakouts That will be happening in the coming Four weeks ahead of ourselves this will Be a massive break that's going to be Happening to bitcoin and you need to be Paying attention towards this gigantic Move that is getting ready on the Bitcoin price actually right now so Without any further Ado can we snap up The likes back above 500 that will be Absolutely incredible and with that of Being said let me jump straight away in Towards the imminent short term of Bitcoin after we broke below the Previous low on the market the level of 26.4k we basically saw a sharp candle Towards the downside where Bitcoin of Course broke down and right now we've Seen a small continuation towards the Downside once looking at the lower time Frames we can reduce start to see that The momentum is starting to diverge However since we're right in a broke

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Below the 26.4k level I am actually Quite worried and I won't be surprised That we are potentially going to see Another leg towards down to get created And potentially we first see your Balance towards the upside touch this Previous support that's right and Flipping into resistance and then have That next move towards the downside so I Mean looking at Bitcoin we are right now Breaking below the 26.3k level and I Talked about this yesterday as well and Exactly what I said as soon as we do Break below this novel my next price Target is actually going to be 25.6 guys So right now my price targets are Actually a little bit lower for Bitcoin And of course if we potentially break Below this next support I mean yeah the Next big support for Bitcoin is going to Be 24.8k that is definitely trading on a Quite Lower Side from here on as well so Yes Bitcoin is not looking so strong Right now here and potentially we are Ready to get some more downside right Here further on if we're just going to Be an analyzing the trend and we can Currently clearly see Bitcoin is still Trading in a downtrend and this is Exactly what I said yesterday on the Video right so Bitcoin is currently Trading in a downward sloping Trend here And I mean as long as we're not breaking Above this trend line I don't really see

A big reason to become super bullish on Bitcoin right now here and if you're Just looking at the 12 hour time frame You can clearly see we've been creating Lower highs off the lower high after Lower high and I mean right now the Question really remains can we right now Be forming a higher low and see a bands From here on or are we just going to Continue this trend with another low low On the trend so that is the thing we Need to be monitoring right now here and To be honest if you're looking at the 12 Hour time frame right now if there is One big level of support that we should Be looking at we've actually already Broken below it or maybe we're going to See a big way getting created on today's Scandal and then we bounce back towards The offset and then potentially we're Still holding at that support however I Think we are looking in a quite Dangerous perspective right now and We're looking and sitting in a quite Dangerous area in my opinion I mean the Biggest support for Bitcoin is Definitely going to be in this liquidity Range that is sitting around 24.8 K to 25 000 and that is also the biggest Support for Bitcoin out there on this Current market I mean if you're looking At Bitcoin right now as well here we can Clearly see we also got rejected from This middle line of resistance we

Previously ran fan support on this level And right now clearly we are getting Rejected by it and due to the fact that The volume is so low on the market Because yes bitcoin's volume has been Dropping over 80 percent here in the Past 12 months here and due to that Bitcoin is getting moved more faster and More unexpectedly and that is literally What we're seeing here there's low Volatility and that is what drag is Dragging Bitcoin down once again here so Yes I mean I'm still quite excited for Bitcoin in the long run but on the a Minute short term there are definitely Some risks for potential lower lows on The Bitcoin price actually right now Here I mean in exactly 21 days from now On we're going to have the second Deadline for the review for the Bitcoin Spot ETF and I mean it's worth noting That ETFs don't necessarily get approved On the exact date of the deadline Usually it can happen on an unexpected Date here so so in fact a Bitcoin sport UDF could be happening any minute right Now and as soon as that news hits the Market I mean the sentiment will change Very quickly for Bitcoin so Bitcoin will At least create a gigantic candle to 32 000 US Dollars instantly once the sport ETF gets approved here because yes that Is gigantic news for the market so I Mean we just have to be patient we just

Have to think about the long run and I Mean yes for the long term I'm not Bearish on bitcoin however the image Short term we could see some bearish Momentum getting created that as soon as A big news Factor comes out here the Sentiment can change very quickly again So looking at Bitcoin right now here we Can currently see that the funding rates Is negative what means and they are Willing to pay a premium to be in their Shorting position so yes definitely very Interesting what we can currently see on Bitcoin and if you want to be trading Bitcoin I've been saying this for quite A while right now here guys but you can Still claim a free 1000 US dollar long Or short position on buy bits and all You need to do here like you can see in The conditions to claim the airdrop is Deposit 100 within seven days and sign Up an account using the link below here To claim this insane deposit bonus as Getting to be expiring in 38 days here So make sure to claim this airdrop as Soon as possible further on just looking At the daily trend for Bitcoin we can Currently see that we're just once again Created another lower low here and right Now in this case for the next move Towards the opposite if we're going to Get it the next level to break here is 27.2k that is that previous Range High In the market if we can manage to be

Breaking Above This high right here we Could confirm a new higher high on the Daily time frame and if we then also Take out this previous high right here We could be really initiate uptrend but For now on we're still training in a Bearish trend here and maybe if we find Some support somewhere around this level We could be looking at the gigantic Symmetrical triangle that we can be Creating at that point as well so I mean Yeah Bitcoin is getting ready for some Gigantic moves here and the reason why I'm currently saying this why Bitcoin is Getting ready for a gigantic move is Because if I am looking at the weekly Time frame for a Bitcoin right now here We can see that this 95 week downtrend And this 46-week uptrend are about to be Meeting each other and this will Definitely come us a massive break in The market because either we need to be Choosing to break the uptrend and break Down or either we have to be breaking Above resistance and break above this Downtrend so there is a big decision to Be made in the coming four to five weeks Ahead of ourselves and yes maybe the Sport ETF is going to be having somewhat Of an effect on this breakout but for Sure Bitcoin is approaching a gigantic Downtrend that we need to pay attention Towards and once we break above it it's Going to be a be a net positive for the

Market in general I mean I've been Saying this 25 000 is still the biggest Support so if Bitcoin has a move towards The downside I still think 25 000 could Be the big support to be looking at and Looking in at the daily time frame for Bitcoin you can currently see that from The previous bear Market I extended this Trend line here and I mean if we're Really going to be looking at this trend Like we are about to be re-testing this Trend line it's somewhere around what is It 25.7 to 25.6 K and I probably expect We're going to find some support in that And if we really break below it it could Really mean some more bearish things Here for this uptrend right here so all Because that could basically mean that Bitcoin could be breaking the 46 week Uptrend I mean at the same time while All this is happening we are about to See a two-week macd bearish course over Happening and this could be a very Bearish thing for the market that we Need to be paying attention towards this Could be playing at any moments right Now here and I mean the last time we had The Bears score from the two week MCD Was literally around 50 to 60 000 US Dollars for Bitcoin so yeah we Definitely do not want to be seeing this Because yeah historically speaking it Has not been really indicating something Good for the market anyways this was it

For me on today's topic video I truly Hope you did enjoy it if you did so Don't forget to slap on the like button And see you guys on the next one peace Out goodbye

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