Bitcoin has been going absolutely Exponential but right now there is some New data available that is potentially Revealing that we should be a little bit More cautious on this exact top side on Bitcoin right here so today's update Video I will talk about all the risks And opportunities in the market right Now here I will talk about the imminent Short-term I'm going to talk about the Spot Bitcoin ETF flows and many more Important charts and important data Points that we need to talk about on Today's update video so without any Further Ado don't forget to slum the Like button back above 800 likes that Will be highly appreciated and with that Being said Ley jumps straight away in Towards the content so looking at the Imminent shortterm this is the first Real time that Bitcoin is really Starting to consolidate in this Exponential rally towards the upside and Honestly can Bitcoin create another move Towards the upside that is of course the Question that I will most likely get the Most I will straight away say yes but it Really depends on the big buy from of These larger institutions like black Rock at CRA we also just got the data in From the spot big Bitcoin ETF flows and Yesterday we saw another positive net Flow of $432 million us flowing in towards these

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Spot Bitcoin ETFs even though 174 Million us do was flowing out of gbtc What was the largest outflow since the 1st of February interesting data once Again coming in there's still a large Amount of buying pressure entering the Market and due to this yeah I mean as Long as we're going to see these massive Buy entering the market why would Bitcoin go down that is the whole thing There has to be more sell pressure than The buy pressure coming in from Black Rock right now and these other issuers So maybe once we're seeing a new trend Getting emerged where the net net Inflows are going to be much lower the Chart is going to be something doing Something else but even though the Charts are looking quite bearish in Terms of just purely the charts and the Technical analysis as long as there's Hundreds of millions flowing in towards The market I am not necessarily Panicking that Bitcoin is necessarily Going to go lower gen say cleared Court To sell 1.3 three billion US dollars Worth of gbtc or maybe it's not part of It but anyways we're still expecting That relatively soon we're going to get 1.3 billion use dollar worth of sell Pressure entering the market but one Thing is for sure and that is that Relatively soon we're going to get 1.3 Billion US dollars worth of gbtc getting

Sold off anytime soon so make sure toep Prepare for that but the thing that I'm Currently seeing that I'm potentially a Little bit worried about is that Momentum right now on the imminent short Term is diverging on bitcoin so we're Seeing a bearish Divergence getting Created on the 4ly time frame I must Admit this bearish Divergence is already Getting created for quite a while right Now here but sometimes what tend to be Happening in these Market scenarios is That Bitcoin indeed goes absolutely Exponential towards the upside it is Even right now breaking above the 0.618 And a 0.65 two very important Fibonacci Levels here in the weekly time frame but You have to understand that sometimes Bitcoin can create fake outs so right Now it looks like oh everything is Looking good everyone is popping Champagne but potentially in a few days From now on bitcoin sees a correction And then everyone thinks oh wait were we Too early to celebrate this so what I Want to be pointing out here is that Basically be a little bit more cautious And be a little bit more patient and if We confirm the breakup of this level yet Then we're confirming the breakout Above This level and indeed that will be an Extremely bullish breakout but for now On we should still wait for that Weekly Candle close to confirm the price action

Of Bitcoin so this Bears of Virgin is a Thing to pay attention to ours and Currently still there's a lot of Liquidity being built up below us I mean Right now I can see that there is some Liquidity being built up above us H and Actually quite a lot of liquidity as Well so maybe first we grab out the Liquidity on the top side but I want to Be just pointing out is that right now A Lot of people are getting very euphoric The funding rates are BEC becoming very Positive so everyone is literally Longing Bitcoin and it is literally an Exponential relative Watch The Upside so I think that yes we could get some more Upside we could get maybe another one or Two moves up here but for me to open up A long position right now it's a little Bit risky and since I'm a trade I want to be opening up a new trade but I don't want to be opening up a short Position because I think it is too Dangerous to do so right now in this Market because yeah we're going to so Going so exponential and at the same Time I don't want to be opening up long Since we have been going so exponential So what I want to be doing is waiting a Little bit here on the sidelines wait For the market to potentially retrace And on the next retracement open up a Big long position on bitcoin so that is My strategy right now here and of course

If Bitcoin were to be pushing up even Further I am just going to still wait Because I'm completely SP long on Bitcoin and there is for me no risk to Wait a little bit longer uh on the Sidelines because I've already got a 99% Of my entire wealth is exposed to crypto So for me of course if the price goes up It's only beneficial for me so further On we can see the potential history is a Little bit repeating here like we have Said several times before and I mean Here on the daily time frame you can Just see this move is getting quite Exponential and Bitcoin is currently Getting in the overball territory is That a bad thing no not at all and can Bitcoin stay in overball ter teror for a Long time yes it can uh so there's not a Real reason to worry about this but I Just want to be pointing out the the Gratitude and if the fast movement that Bitcoin is currently creating and Usually once Bitcoin creates these fast Moves it could also retrace very quickly So uh once again I don't want to be Pointing at it has to be happening but This is just once again a point of risk Management and due to that I am just a Little bit more cautious and I am just Waiting a little bit longer before Opening my next trate here so if you Want to be joining me with my next trate Or if you want to be copy trading

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Is finally consolidating and uh Potentially we are getting ready for That next move anytime soon here weather Is going to be up or down I am currently Looking at the imate shortterm at this Region I mean this is the most important Support to look at this is the most Important resistance to break and Basically if we break that support here On the lower side I think that this is Going to be the next support and if we Break that I think this level right here Is going to be the next support after That so these are my levels that I'm Currently looking at for Bitcoin and of Course looking further than Bitcoin we Can see that ethereum is starting to de Band against the Bitcoin pair also Slightly back towards the upside and uh It's taking some territorium back from Bitcoin what is of course absolutely Good to see we do know that the ethereum ETF is coming in May 2024 so in Approximately three to four months from Now on so that is also a thing to Prepare for because once that ethereum ETF comes I think that that is really The point where ethereum is going to be Absolutely blasting off so you could Right now prepare yourself for that Ethereum ETF because I think that that Is going to be a narrative that is going To be driving the markets up after that So this is it for me today's update

Video nothing really new nothing really Special um but yeah there's also not a Lot of stuff happening right now in the Market so thank so much for watching and I'll see you guys back tomorrow in Another update video peace out goodbye

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