Bitcoin is creating another Consolidation phase on the 1hour time Frame and today is the day that finally The Bitcoin spot ETF approval window Opens so either the Bitcoin spot ETF is Going to get accepted today or on Monday Or Tuesday so today is the first day it Could get accepted so I will be talking About this what does this means for the Bitcoin pre section what does this mean For the upcoming few days and the Upcoming weekend for Bitcoin and many More important charts we will be Discussing on today's update video so Without any further Ado don't forget to Slap up the like button back above 700 Likes that will be absolutely incredible And with that of being said let me jump Straight away in towards the immin aure Term here on bitcoin so right now on Bitcoin we can currently clearly see is That yesterday we got a rejection here From the top side exactly from the Previous low on the market and yes also Exactly like I've talked about if we Break Above This level this level right Here flipped into support and I set this Yesterday if we do break Above This Level and we're going to be retesting it I will be expecting this level is Actually going to be providing support And that is clearly what happened Because in the past this level clearly Provided resistance and support as well

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So I am taking this level very seriously But personally if we're looking at the 1H hour time frame on bitcoin we can Just clearly see that we're creating a Downward sloping resist line here from The top side with multiple touch points And multiple rejections like you can Clearly see right here but also from the Lower Side we're creating higher low After higher low after higher low and Every single time once Bitcoin is Testing this level we are bouncing from It so things are looking actually quite Good for a Bitcoin we're bouncing from All these support levels every single Time so honestly what I will be Expecting for Bitcoin is that as soon as We either break above resistance or Below support that will be initiating The next gigantic move either towards The upside or towards the downside so These are two very important levels you Should be watching in and of course guys I do really think that the coming four To five days are going to be massive Because the Bitcoin SPO ETF is either Going to get accepted today or in the Beginning of next week and since the Bitcoin sport ETF window is right now Open we could be seeing some more Volatility and talking about volatility I will be looking at the liquidation Heat map because the liquidation heat Map always helps me to see where Bitcoin

Is moving towards because Bitcoin always Follows the liquidity currently there is Some big amounts of Bitcoin long Positions hanging on the side sitting Around at 41.9k level to 41.8k and Approximately 6 to 700 million us do in Bitcoin long positions are sitting over There but here clearly around $46,000 us There are also a lot of Bitcoin short Positions so honestly right now I can't See clearly where the majority of the Liquidity is really piling up so I can't Really make my bias on this chart right Now but once I do see more liquidity Piling up you will be of course the First one to know on the channel so Don't forget to smash up that subscribe Button right now and very interesting Thing that we can actually see right now Here is that the funding rate is Starting to go negative and that means Is that there are more overweighted Short positions in the market than long Positions and of course since more People are right now shorting there may Be potentially expecting we're going to Get a rejection on the B Bitcoin SP ETF And honestly the more people that are Shorting the more likely it is that We're actually going to be going up just Like we had this move towards the Downside because everyone was extremely Long here on the top side and that was Why we got that Nass leverage flush out

And now we're almost already back Towards that level only no one is really Long anymore everyone seemed to be Turning bearish so this is a very good Thing here but to be very honest I can't Really say that this is necessarily a Good thing because we have right now a Big news thing that has really been Influencing the price because the Bitcoin sport ETF if it just gets Accepted yeah of course we're going to Be seeing the push towards the upside And of course if it gets rejected of Course we're going to see a massive push Towards the downside but the chances of The Bitcoin SP TF really getting Rejected are very small so I am not Really expecting that so looking at this Time frame guys in this green box right Here this is the window of potential Bitcoin SP ETF approval and to be very Honest if you're just approaching it Clearly today it's Friday so it either Could get accepted today not tomorrow on Saturday Saturday on Sunday and on January the 10th is the final deadline So we're either going to be seeing the Bitcoin SP ETF getting approved today or On Monday or Tuesday so we're very close Right now here and if it does get Accepted today I would truly be Expecting an outright pump throughout The whole weekend so let's see how it's Going to be playing out I do think

There's a very big chance it does get Accepted so let's see how it is going to Be playing out here but definitely Important and interesting to be paying Attention towards and also this chart I Discussed yesterday the support level we Bounc from and I said the level we need To break is 44.1k because this has been Previously around Massive Resistance and Like you can clearly see we exactly got Rejected from my level yet again so While Bitcoin is right now trying to be Pushing back towards the upside again Here I do want to be pointing out guys This level 44.2k is the level to break As soon as we do break above that level Then I will be expecting we're going to Be pushing back towards these previous Highs in the market so if you want to be Trading Bitcoin or do whatever with it Make sure to check it out in the link Description because currently if you Want to be trading Bitcoin you can get a $40,000 use diula bonus and without Using the link description of today's Video it's only 400 so it's a definitely Win-win situation and on top of that you Could claim a free $1,000 airw position And all you need to do for that there is Go to the link description of today's Video sign up account using that link Below complete KC deposit $100 in your First seven days and you could claim That free $1,000 on buybit if you're

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Further push towards the upside so that Is why I don't want you to get fooled Right now here but of course uh if the Bitcoin SP ttf gets accepted we don't Get a big pump at all and we move down Here the potential scenario is that we Are going to get a bigger correction Because honestly if you're looking at The price structure I don't think that It looks very strong here the the price Structure looks very bearish and Honestly it's indicating we're could be Getting an even more or massive Correction towards the downside and to Be very honest if we do get a 20% Correction for Bitcoin it would bring us Back down to $35,000 but it would be a gift honestly Every big correction in the market would Be a gift and especially on altcoins That are potentially going to suffer Even more so I would take it with both Hands but currently is well here on the Weekly time frame for Bitcoin we're Seeing a golden cross happening what is Also big news here Golden Cross the 50 And 200 weekly moving average are Crossing each other for the first time Ever uh I mean it's the second cross Ever but the first time ever we're Having a bullish crossover so this is Very good news here Bitcoin still Consolidating waiting before having a Massive breakout so guys this is it for

Me in today's update video Keep Your Eyes wide open on my Twitter page Because once the Bitcoin sport TF gets Accepted you will be the first one to Know here and of course subscribe to the Channel because I will straight away Bring out a massive emergency update Video so thank you so much for watching I hope to see you guys back on Tomorrow's update video so thank you so Much for watching and I'll see you guys On tomorrow's video peace out goodbye

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