Bitcoin is right now creating a bullies The Virgins here on the daily time frame And while this is happening an Historical signal is flashing the Funding rate is once again negative for Already a prolonged period of time and In this exact video I will talk about What this means for Bitcoin what is Going to be happening next since the Open interest is rapidly decreasing on The price action of Bitcoin I will be Discussing the most important charts I Will talk about what BlackRock is Currently doing in the market are they Buying but why is the market not showing Any strength we'll talk about the Bitcoin daily time frame that currently Is at its most oversold ever seen in History before and of course I will Discuss the most important charts we Need to talk about right now here so Without any further Ado don't forget to Slap up that like when on today's update Video can we smash you back about 400 Likes that will be absolutely incredible And with that being said let me jump Straight away in towards the content so Once looking at Bitcoin currently on the One hour time frame we can straight away See we were creating the bullies Divergence I already talked about the Previously around and after we've seen That Bitcoin has been balancing a little Bit towards the upside and if you're

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Really zooming in removing all the Drawings you can clearly see that Bitcoin is broken above this very Important range right here that Previously Iran acted as support then it Flipped into resistance and right now Once again it is acting as support so we Flipped above 26.2 K what is of course a Good development on the imminent short Term I'm ready where we need to be Breaking above off if we want to be Seeing a more exponential rally getting Created is 26.8k looking at the four Early time frame we can clearly see we Created a very nice bullish Divergence On the four early time frame the four Early time frame is not oversold anymore And is balancing back significantly Towards the upside and is about to Create and hidden bearish Divergence and If we must be looking at these relative Strength index the RSI we are probably Right now expecting that we're going to See sort of a cool period or Bitcoin is Going to go somewhat sideways for now But yeah Bitcoin is only up a little bit Here after dumping 17 percent and Towards the downside but more Importantly looking at the charges of The open interest on bitcoin I think it Makes up a little bit more of a better Story so looking at the open interest This is basically how much long and Short positions are in the market we do

Know that in the market a lot of long And short positions got wiped out or Closed out and right now Bitcoin is Bouncing back towards the upside but the Longs and shorts are not increasing this Is exactly what you want to be seeing Here because bass once the open interest Is super high in the market the risk of Buying Bitcoin is also most certainly Way higher and to be very clear and to Clarify it out right now currently the Open interest is at a low not seen since March 2023 and we all know what happened In March 2023 Bitcoin moved back towards The offside also if we compare these Levels the open interest levels where We're currently sitting on is also very Comparable to January 2023 where Bitcoin Also had a massive rally towards the Upside and if I even extended more here You can see in that very significant Collapse towards the downside after the Luna crash with the open interest was Also at this low goes and then also it Had an approximately bounce towards the Upside open about 30 towards the top Side so so basically every single time The open interest is low on the market The risk of buying Bitcoin is also Significantly lower and since the Majority of the positions that got wiped Out are long positions we also started To see the funding rates going negative And currently they are still negative as

You can see here on this chart that Basically once the funding rates are Negative it equals a very good buying Opportunity so let me show you also this Chart right here to make it a little bit Clearer for everyone out there if you're Looking at the filling rates for Bitcoin You can currently see here that once Again defending rates are negative and To quickly explain what it means is that There are more short positions active in The market than long positions at the Moment what means the chance and the Likelihood of a short squeeze is most Certainly much higher and the risk of Buying Bitcoin on spot do you expect the Prior prices are going to go higher are Also most significantly lower so the Risk of buying Bitcoin is extremely low Right now since the funding rates are so Negative and you can see it's still on Bitcoin on ethereum and many other Altcoins the funding rates remain to be Negative what means that people are Massively shorting these coins and that Is why I am currently longing ethereum Longing Bitcoin and having my positions Open and you could be trading yourself As well here and if you're going long Actually in the market right now you are Getting paid because the funding rate is Negative so if you are interested in Trading Bitcoin cryptocurrencies or Buying it on spot go to the link

Description because if you sign up an Account using the link in description Right now here you can either claim a One thousand US dollar deposit bonus on Bitcoin or an xrp and all you need to do Here is go to the link description sign Up an account deposit 100 within seven Days and you can get a free 1 000 US Dollars Bitcoin or xrp position for free So go to the link description if you Want to be claiming this but it is Definitely a super valuable deposit Bonus that is currently valid at the Same time we can currently actually see The big one on the daily time frame Confirmed a bullish Divergence and the Daily time frame is about to go in Towards new tool territory on the RSI Indicator so this is actually very an Interesting development to be seeing Here since Bitcoin is not really created In Hidden bullish Divergence for quite a While right now and since everything is Like pointing towards the direction There is a very big chance that Bitcoin Is going to see a very huge balance here While everyone on the Internet is saying The market is not moving and also a Thing that I quickly want to be saying Here is that BlackRock is of course Buying Bitcoin right now but many people Said to me why isn't the market moving Why isn't the market showing stress and The simple reason is that BlackRock is

Here to make money they're not here to Make you rich so what BlackRock is doing Is that they are buying Bitcoin through OTC deals it means that they're buying Bitcoin through miners exchanges or Governments directly over the counter What isn't influencing the price and More importantly then they do not have Any slippers and they can be buying Larger amounts of Bitcoin for usually Also it cheaper price but those are big Ones that are currently not getting sold Off the black Croc is buying it you have To understand BlackRock needs Bitcoin to Back their ATF because this regulated Sport ETF that BlackRock is applying for Needs a one-on-one Bitcoin backing so That is why they're probably buying Bitcoin right now once the prices are Lower so don't be fooled while you are Maybe panicking right now here for the Coming months BlackRock is probably Buying and in 2024 they will publicly Announce how much Bitcoin they own and Then probably you're going to be buying But the time to be buying is once Everyone is in fear once everyone is in Doubt so you're not going to be losing Out on the most amount of gains so I Want to be pointing this out here it's No Financial advice but this is probably What is going on here because they are Not here to make you rich they are not Here to send Bitcoin towards 100K and to

Not fool you along the way up they're Trying to steal your Bitcoin they're Trying to own the most amount in the Market so please do not get fooled then At the meantime we can currently see Here that Bitcoin on The Daily time Frame here on the RSI is also at its Most oversold territorium and Historically speaking if we're looking At this event what happened in the past It basically always indicates a super Good buying opportunity so I am not Doubting that this is once again a good Buying opportunity in my opinion and of Course more importantly on the three-day Time frame we're still remaining to hold A 24 to 25 000 support as long as we're Holding this support I do not see a Reason to really start to be panicking And at the same time the dollar Index is Also hitting critical resistance so if The dollar Index does see a rejection From this point Bitcoin can start to see Very significant rise from it because Yes always once the dollar Index moves Down here it is inverted correlated Against Bitcoin so that could help Bitcoin to create another rally towards The upside so since it has been in a Small bounce here open about four Percent it took them definitely at least Four percent of the Bitcoin valuation It's super important to be watching the Dollar Index since Bitcoin is measured

Against the dollar and if the dollar Only gets weaker it only will mean the Bitcoin is going to become stronger so That is important to pay attention Towards if we do break bullish Bitcoin Could maybe species some more trouble But of course if it does decides to be Breaking bearish it could only mean more Positives for Bitcoin so that was it for Me in today's update video if you did Enjoy don't forget to slap on the like Button and I'll see you guys on the next One peace out goodbye

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