Do weekly Bitcoin MCD is about to be Having a bearish crossover for the first Time in 300 days and right now I'm Shorting Bitcoin and making more than 4 000 US dollars in profit I will give a Brief update on my short position I will Talk about the CME Gap that exactly got Filled up and many more important charts That are indicating if we are Potentially going to retest this very Important support level around the 25 to 24 000 US dollars so don't forget to Slap up that like button on today's Video can we smash it back above 500 That will be amazing and let's jump Straight away in towards the content Like I've said in my previous videos Once we create that CME Gap if Bitcoin Creates CME gaps it usually tends to get Filled up within three to four days After creation and like you can see this Time around we create a CME Gap and an Approximately two to three days later we Already filled up the Gap what is Definitely a very common thing to happen And like I've been saying for a while on The channel 95 of all the CME gaps Always tend to get filled up so this one Again got filled up and if we're looking At the one hour time frame we saw that Symmetrical triangle got created we Broke down of it and currently basically We can see that we're all the way back Down here towards 26 000 US dollars what

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We can see right now on the image short Term is that actually Bitcoin is Becoming very exponential in his drop Towards the downside the first was of Course a less exponential move towards The dancer but Ryan it looks to be is Becoming more and more exponential so Maybe we are right now in an exponential Dump towards the downside so that could Mean of course some bearish things for The imminent short term for Bitcoin so Make sure to keep your eyes wide open on That but what I'm really looking at in This entire range right here is this Very important support level so you can See previously around this level Provides support after that this level Significantly turned into our resistance Like you can see right here we broke Above it we flipped into support and Right now we broke below it and actually Flip it into resistance yet again so Bitcoin is once again trading below the 27.5 K what is definitely a very bearish Thing to see right now for the Bitcoin Price action because this was basically The the level that was holding a Bitcoin And if we're right and looking at the Four early time frame or just on a Bigger perspective we can clearly see The price section of Bitcoin is heading Down the price action of Bitcoin is Creating lower highs indeed like you can See we're creating lower highs together

With lower lows so we're seeing a Significant downtrend getting enabled For Bitcoin what right now makes it Extremely likely for me that the Strength is actually going to continue So yeah let's see where it is going to Be heading towards but in my opinion It's actually going to be extremely Likely to see this trend continue Towards the downside since we already Have been trading in a significant Downtrend on that four hourly time frame Be on alert for that one as well ever Since we basically broke below 27.5 K Again it could be meaning that we're Going to see some more bearish targets And you may be wondering what are the Bearish targets we're currently looking At of course this is the 12 hour Resistance line you can see we got Rejected every single time basically we Touch this level and you may be Wondering okay but Rover where could I Expect Bitcoin support is going to get Found and I've been talking about this Level for many many times in the past You can see it right here previously Once the Luna collapse was there we Found support on twenty five thousand Dollars and once we broke below it after That we saw that this level the 25 000 Acted as resistance then we had this FTX Collapse we moved on WE recovered all The way back towards the upside and what

Level flipped into resistance again Exactly it was that 25 to 24 000 US Dollars so if Bitcoin will ever see a Retest of this level it will be a Gigantic opportunity and also if I will Be opening up the vpvr we can see Something very important happening Because basically from off twenty five Thousand dollars all the way down here We can see that there's a big block of Support in terms of volume getting Created what means that there's a lot of Volume trade between this level what Means this is a very big level of Support for Bitcoin so that is why I Think if Bitcoin is going to fall lower And if it continues the downtrend we're Currently trading in because we've been Clearly seeing that on the 4ila time Frame I don't really expect we're going To necessarily see Bitcoin go all the Way down to 20 000 dollars of course It's possible because only 20 000 US Dollars the biggest support is there Like you can see in the volume the Majority of the volume is traded around Twenty to twenty one thousand dollars so Yeah if Bitcoin really Falls below Twenty five twenty four thousand dollars Twenty to twenty one thousand dollars is Really the level to be looking at but Basically what we can currently see here Is that there's a lot of volume support Trading below us of course in this range

Between 26 and 25 000 there's almost no Volume support what means that we are Probably not going to find that strong Support here and that is why I exactly Think that 25 to 24 000 is going to be Probably be the bottom for Bitcoin and That is why we'll be opening up a Gigantic Bitcoin long position on that Exact level right there I've been Shorting Bitcoin ever since the top Right here I've been bullish on bitcoin All the laws right here I've been Bullish on bitcoin on the low right here And I've turned bearish on bitcoin on Exactly Thirty one thousand dollars Exactly the top literally exactly the Top and right now I'm going to continue To be bearish as soon as we reach this Level I'm going to turn bullish again so I'm about to be flipping bullish again It's not going to take much longer so Currently I'm still in the short Position and of course as soon as I flip Bullish I'm going to be opening up long Positions again of course if we do see a Significant pump I'm going to get Stopped out of my short position I'm Probably going to turn bullish as well But for the image short term right now It doesn't really make sense for me to Be opening up a long position right here Because the chances for me to pick of Course that good move towards the upset From here on far less exponential than

The other way around right of course There are still very big opportunities That Bitcoin is going to see is Significantly bands from all this level Because currently if you're looking at The 200 weekly moving average you can See they were literally trading on Support for it and also the weekly email Ribbon we're literally trading on that Support level and for the batteries I've Also got an argument because on the Weekly time frame we're seeing the McD About to cross bearish for the first Time ever and if I'm going to put Vertical lines on all the times we Basically cross bearish in the McD on The weekly time frame we can see that Every single time once the macd cross Was bearish it is really indicating us We're about to be having a significant Move towards the downside so so if this Signal really occurs I'm going to take It very seriously and probably it's Going to to occur in approximately three To four days there so make sure to be on The lookout for that maybe if we do see An even more significant dump over the Course of this weekend it could already Happen right now but we're probably Going to be expecting a confirmation uh In the next week so make sure to be on The lookout for that the historically Speaking once the McD Ray crosses Bearish it's a very bearish thing for

The price section of Bitcoin you can see Also that the volatility is still Extremely low for the price action of Bitcoin so the big move we've been Waiting for is still not yet here but it Will be coming around anytime soon here And if I'm looking at Bitcoin in terms Of its flag we do know we're still Creating a gigantic bull flag what is Definitely still a bullish bias pattern It could still break bearish but we are In a bigger perspective still just Consolidating and waiting for the next Next gigantic move on the price section Of Bitcoin so that was it for me in Today's update video I really think Bitcoin is Major support is going to get Finer in 24 to 25 000 that is my Target And we're about to be having a bearish Cost on the macd what you shoot really Takes it very seriously because many People are not looking at this very Seriously well in fact historic speaking This indicator has really predicted some Very big moves in the market so make Sure to pay attention towards that but That was it for me on today's update Video if you're interested in trading Don't forget to check out the links in Description because you can write no Claim insane deposit bonuses after Signing but account using the link in Description but that was it for me in Today's of this video thanks so much for

Watching and I'll see you guys on the Next one peace out goodbye

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