Bitcoin it's parabolic runoff is right Now coming towards an end and the price Action of Bitcoin right now is in Extreme danger and I will be exactly Talk about what is next for Bitcoin the Important Trend to analyze here on the Short term a new Bitcoin trading setup And much more important charts and Trades we need to discuss right now so Don't forget to slap up the like button Can we once again smash a back of a 500 That will be absolutely incredible and With that being said let me jump Straight away in towards the content and First of all if we're really looking at That one hour time frame we can see that We clearly broke below this super Important level of support and we Basically continue the downtrend we were Already trading in like I have said Yesterday yesterday I've been saying That we were trading in the danger and That it was likely to see a continuation Of the trend until proven otherwise Right now if I'm going to look at this Trend and look at the next trading Opportunities since we're in a downtrend On the lower time frames also on the Four early time frame I'm actually Looking to sure this very important Level of previous support that right now Is flipping into resistance so if Bitcoin is going to come back up again Retest that 23.8k level I am actually

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Going to start to look at a short Position for Bitcoin because currently I Think we entered this range right here And not any more deranged on the top Side so this previous level of big Support is right now going to be Providing resistance for Bitcoin you can Also right now already see that it did Send up a new order to of course sure Bitcoin around this level but currently I'm just waiting for a potential retest On the top side or maybe we're not going To see a retest at all we continue to Weigh down already from of this point Onwards the reason that I'm currently a Little bit more embarrassed is because Only one hour four hour in Daily time Frame things are not looking so strong Actually for Bitcoin but uh what I want To be pointing out right now here is That actually the trend of Bitcoin of Course like I said yesterday in the Video we are losing momentum on the top Side but as long as we keep on forming Higher lows on the 12 hour daily time Frame it is of course in terms of the Trend still okay okay and what is going To be crucial for me to look at is this 21.6 K if we break below the 21.6 K so That is the previous range low on the Market I honestly think it could be a Very wild correction for Bitcoin and we Could come down way faster and way Deeper as well for Bitcoin because if we

Do not hold on towards this level it's Basically confirming that we're going to Be entering a big Market referral Towards the downside for Bitcoin and That is of course a position where I Don't want to be holding my Bitcoin Positions right because then I want to Be rather set in use dollars instead of Bitcoin so it's going to be important to Look will we hold on towards the uptrend On the higher low structure or will we Break the structure and confirm a lower Low what will of course also indicate That there's going to be a bigger turn Around in this market in general so that Is what I'm currently will be looking at And of course with my trade as well that Is why I'm looking to of course short The stop side right here and if we then Break below that level I could catch a Very good entry on the shorting position That is currently what I'm looking at in Terms of my trades of course my swing Trade for Bitcoin I I am taking more and More profits out of it currently I Already looked at more than seven Thousand US dollars in profit but I'm Actually taking looking to take more and More profits as time goes by because Yeah it's becoming more and more risky To be in the zone position honestly I Still think there is a likely scenario Where Bitcoin is maybe still going to See a swipe towards the upside and that

Is going to be the final move up here And if we do so that is of course the Point where I will be starting to really Look in the profits for my trade here And honestly still think it could be Happening if it doesn't happen it's also Going to be okay but currently if I look At the daily time frame for Bitcoin at The parabolic run-up we are currently Breaking below the parabolic structure What means that actually the momentum is Really drying up for Bitcoin you could See it on all these momentum indicators The RSI forming a bearish Divergence Looking at the macd you can see also Creating embarrassed versions if you Look at the money flow index you can Also see we're creating a significant Bearish Divergence so basically all the Momentum indicators are currently Telling us that we're seeing a loss of Of momentum getting formed in the market What is also really the reason why we're Coming down right now and if we're Breaking the parabolic trend it means Also that the buy pressure isn't there Anymore what means that we could be Maybe potentially see a bigger reversal And I'm not saying the Bitcoin is going To crush down to 14 or 16 000 no I could Be saying the Bitcoin could come down to 19 to 20 000 before potentially Recovering that again but currently it Is actually likely that we're going to

See a small little cool face and if it Doesn't happen I want to be making this Very clear if it doesn't happen and Bitcoin let's say find support right Here moves back towards the upside and Crashes above 25 000 I will be very Pleased because if we break above 25 000 Of course I will be flipping very Bullish and like I said as long as the Trend as long as this momentum and the Trend basically keeps on forming higher Lows actually still still everything is Looking quite all right for Bitcoin but As soon as we do break reloaded 21.6 K The previous range low on the market That is the point where we should start To get word right for Bitcoin so that is What I want to be pointing out here Currently we can see that actually also On the daily macd we're seeing a bearish Crossover happening what is definitely Not a lovely thing to see here in the Market and at the same time we're seeing The same structure getting formed this Weakening surrounding top here on the Bitcoin price section what we have seen Many times before of course if I'm going To show you you're probably going to Recognize it we saw it here in this run Up right here and we also saw it of Course at the previous Autumn High uh at Bitcoin you can see we were having that Rounded in top structure so these Structures they tend to get created

Quite often for Bitcoin if you're Creating this weakening High structure We saw it also right here actually we Saw weakening High structure here as Well weakening High structure weakening High structure these are top formations And I'm not saying that of course this Was also a top information but this Wasn't necessarily the the the highest Point for Bitcoin because we moved down But after we move back towards the Upside I'm not saying right now that This is the top for Bitcoin I could only Say this could be a short-term top Before eventually coming up again just Like what it was right here and Eventually also what it was right here Right so that is what I want to be Pointing out the market structure is not Looking necessarily so strong and maybe We could be having enough Steam for Another leg up here but in the end of The day it's probably going to be Inevitable to have a small little Correction on the price section of Bitcoin just like we had right here Right so I want to be pointing it out Because the market structure is Important to read and if I look at my Pure success from Trading of trading Bitcoin and swing trading especially it Is because I always was sure what I was Reading in the market structure and I've Been saying this ever since we were

Trading on twenty five thousand dollars At 24.5 K approximately and we're Already down 1.5 K so so far it's been a Good prediction but I think it's Important to pay attention towards this At the same time 200 weekly moving Average is really what it's getting is Rejected but yeah today's video was not A very long one I want to be pointing This out these important factors and I'm Looking of course at an important Shortening position on bitcoin so yeah This is it for me on today's update Video if you did enjoy it don't forget To slap up the like button and I'll see You guys on the next one sad goodbye

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