Happy New Year everyone but Bitcoin is Right now creating a golden cross here On the weekly time frame so I will be Discussing what this means for a Bitcoin I will talk about this massive pattern We tra we've been trading in for over 28 Days in a row the most important data we Should be paying attention towards right Now and many more important charts that Are going to tell us something about Where Bitcoin is heading towards next so Without any further Ado don't forget to Slap up the like button back above 700 Likes that will be absolutely incredible Inedible with that being said Le me Jumps straight away in towards the Imminent short term and like we can see On the imminent short term Bitcoin is Still creating somewhat of a lower high Structure as soon as Bitcoin is going to Be managing to be breaking above these Previous highs right here in the market So I will quickly draw a box for you Guys this green box right here if we can Break Above This level we're basically Breaking above the previous high in the Market and that for me would confirm a Breakout towards a higher region so I'm Going to be looking at this region for Bitcoin if we break above that level I Will be expecting a continuation towards The upsite but anyways I have been quite Bullish on bitcoin but what we should be Looking at is just this massive

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Consolidation phase look at this we are Creating a massive upward sloping Support line from the pre from the past We are creating this massive symmetrical Triangle here on the 4H hourly time Frame Bitcoin is just getting ready for A massive move and it's not going to Take that long here anymore before we're Going to be breaking out because in Literally three days from now on the Bitcoin spot ETF approval window is Going to get opened and once that moment Is there we will probably see a a lot of Volatility either towards the up or Downside if it gets accepted of course So yeah we're about to get massive Volatility and it's literally right now Calm before the storm there's nothing Happening right now but I can guarantee You next week I mean it's already this Week since it's Monday is going to be a Super volatile week for Bitcoin so also If I'm looking at the liquidation heat Map we can actually see that a lot of Liquidity from the top side disappeared So uh it's either that more liquidity on The Lower Side came up here but Definitely some short positions got Closed in the market so the liquidity Heat map is not currently really telling Us about where we're heading towards Next year so this is definitely very Unfortunate to be seeing but if I'm Still looking at the funding rates the

Funding rates are still overly high in My opinion and that is usually a sign of Worry because if the funding rates are Extremely high usually it's not a sign That I think oh this is a period where I Would love to be buying Bitcoin but due To the fact that of course the Bitcoin Sport ETF is just currently days out Just three days out probably uh yeah That's also a reason why I still think That Bitcoin could go up even though the Funding rates are extremely high but Yeah this is very interesting so if you Want to be longing Bitcoin or any Altcoin you're basically paying at 3% Fee to be in your position what is of Course absolutely mess and how it works On cfds is that you have the short side And the long side and they both pay each Other but if there is heavily Outweighted towards the long side so Everyone's only longing and uh what that Mean is that basically all these long Positions that are in the market they Have to pay a fee to pay the other long Positions if they make profit or Whatsoever so this is how it works and Due to the fact that everyone is long The fending rates are currently so high So this is indeed a sign of worry but I Do know that the Bitcoin spot ETF is Around the corner and that could really Cascade the price of Bitcoin higher and I still thing that you should be zooming

Out a little bit here about what kind of The phase of the cycle we're in and like You can clearly see right here we are Currently literally in the pre- boring Part of the cycle so it's not going to Take long anymore and I do really think That 2024 is going to be the year of the Bull market so yeah this is really the Time to prepare and honestly I don't Think there's a lot of time left to be Preparing maybe we've got another 6 Months maybe we've got only another Three months but one thing is for sure It's not going to take long anymore Before Bitcoin is going to go absolutely Nuts due to the Bitcoin sport ETF as Well so on The Daily time frame we can Clearly see we're creating the Symmetrical triangle we're just waiting For the breakout to be happening and I Have been trading Bitcoin a lot on the Way towards the upsite right here but Then I never got my entry filled up so Unfortunately I have not been opening up Many new trades here since I did not got Entered and I only want to enter with The least amount of risk so I still have My ORD set up here maybe I'm going to Get entered but yeah uh if not I will be Looking at new opportunities if we break Outside of this region so if you want to Be trading Bitcoin yourself make sure to Go to the link description of today's Video where you can trade on buybit and

If you Rite a signment account using the Link below guys you could claim a free $1,000 airw position on buybit and all You need to to do here is yeah sign up Again using that link below complete KC And deposit $100 in your first seven Days and then you could claim a free $1,000 position it's super valuable it's Super simple and you could claim it Right now yourself and if you can't do Kyc make sure to check out FX this is an Exchange where you can literally trade Without kyc and they're also giving you A 10% cash back on everything you're Depositing so that's absolutely amazing So still on The Daily time frame Bitcoin Just looks to be getting ready for a big Move here uh on every time frame it Looks like it every time frame is Indicating we're creating the Symmetrical triangle this continuation Pattern and we're just about to be Having a massive blast about to be Having a massive blast and probably it Is going to be towards the upside since The symmetrical triangle is a Continuation pattern and we've been in a Bullish by strength I would really Expect it's just going to see another Push towards the upside then quickly Stating right now we are seeing a Bitcoin Golden Cross here on the weekly Time frame what is of course absolutely Massive uh I mean we had this de cross

Right here and since Bitcoin only went Higher uh but yeah this is the first Time we're seeing a golden cross on the Weekly time frame for Bitcoin what is Quite massive since this was also the First time we saw death cross on the Weekly time frame so interesting to be Seeing how this is playing out and how How this is happening but currently Bitcoin is clearly trading above it this Red line right here is the 200 weekly Moving average what is of course uh a Very important level and basically if You trade below that level it always is A good opportunity to be buying Bitcoin I've stated this many times in the past As well also quickly saying that mvrv Ratio uh has also already clearly told Us the bare Market bottom was in and Honestly every single time the signal Has flashed we've just seen a massive Run towards the upside and I also don't Think that we're currently still in the Peak of the bull market some people are Saying that but the peak of the bull Market will look something like this Like such a big of a spike and I will Definitely notify everyone out there Once we're going to be coming in towards These regions again so make sure to Subscribe to the channel for that but Currently um I mean of course we could Come down to $35,000 or what whatever But it's not going to be the correction

Of the blowoff top yet here I think We're still super early and I mean just Like here you could see this minor move Towards the downside minor move towards The downside But ultimately it was Literally nothing for what was about to Be coming over there so I'm still super Excited about Bitcoin I don't think There's a big reason to worry I think 2024 is going to be a beautiful year so Yeah once again happy New Year everyone But this was it for me today's update Video thank you so much for watching and I'll see you guys on the next one peace Out goodbye

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