Bitcoin is breaking down right now and In this exact video I'm going to talk About my price targets of this breakdown Of the Bitcoin price action and I will Be talking about the most important Market structure we need to read right Now to know what the next Bitcoin move Is going to be right here so make sure That you will be watching this video Till the end can we once again slap up Those likes back above 600 that will be Absolutely incredible and with that Being said let me jump straight away in Towards the imminent short term for Bitcoin to identify how the market Structure is looking so quickly jumping In towards the one hour time frame Weekend right now see that we are Confirming a lower low on the one hour Time frame and we officially broke this Very important level support that Previously ran if I extend this level as Well you can see previously rent Provided resistance resistance flipped Into support flipped into support right Here and currently is flipping into Resistance so this level is a key level That we need to look at and currently We're breaking below it means that Bitcoin on the one hour time frame is Officially in a downtrend looking at the 30 minute time frame we can currently See that the 30 minute low has not been Breached yet you can see the 30 minute

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Low is trading somewhere around 24 000 We have been retesting this level for Like two times in a row already and if We also confirm a break below the 30 Minute low I am actually expecting it's Going to be likely for Bitcoin to see in Continuation towards the downside Towards even the previous low on the Market what's somewhere around the mid 23 000 regions what is of course not Necessarily very positively for Bitcoin Right now on the image short term Furthermore we can see that there's a Big amount of support below us right now Around 23.5 to 23.7 K this is the level That previously around of course Provided resistance right here and Flipped into support and previously Iran Also provided resistance but this is Definitely the level to be looking at Right now here and I think if we also Break below this level then Bitcoin can Even go stair lower towards levels Around 22.5 K so it's going to be Important to look at the ranges if Bitcoin is going to be holding support Around that on the four early time frame You can clearly currently see that we're Trading at a key level in the market if We do manage to be breaking below this Level it's going to be more likely that We're going to reach lower targets for Bitcoin and then the next Target I'm Talking about is this support box right

Here that's trading around 22.5 K so Yeah it's going to be important to look At it and if we confirm we see the Confirmation of the break below this Level I am of course going to be looking At a short position on the exact retest I have been talking on my telegram Channel that I was willing to of course Short the one hour time frame breakdown Of this level right here unfortunately I Was asleep once we were having the Breakdown otherwise I would have already Shorted Bitcoin towards the downside I'm Making a one percent profit Unfortunately I have not been able to Anticipate the move then since I was Sleeping but right now I'm just looking At the next opportunity and that is of Course not longing the support right now I think it's too dangerous to learn the Support but if we confirm the break Below this level right here I'm going to Short the retail this of this exact Green box right here but in order for me To confirm the trading setup we first Need to see a breakdown so once I'm Going to open up my next trade you will Be the first one to know here on the YouTube channel so make sure that you Subscribe to the channel right now Because once I do set up my next trade You will be the first one to know here Furthermore on the one hour time frame We broke the important uptrend and ever

Since we did so we continue to Trend Even further on towards the downside and If I'm looking at the big big support we Can see that this green box right here We identified it yesterday as the most Traded volume range here you can see it On the vpvr what means that if we're Already anywhere going to be finding Some support it's probably going to be Around at 23 000 US dollar region since The majority of volume is traded around That range so if we have that Significant drop off the 23 000 US Dollars is the level where I am Expecting we're going to find a lot of Support for Bitcoin you can see also on The four lay time frame we're breaking Down of the ascending triangle and to be Exact the price target of the breakdown Of the ascending triangle is also at Twenty three thousand US dollars what Makes it of course a very interesting Price Target to be looking at between Three thousand US dollars is definitely A Target we should be anticipating right Now of course if it doesn't get happened If we do find support on the very Important books of support right here And we bounce back towards the upside It's going to be amazing otherwise I'm Anticipating to long to support on 23 000 US dollars for a Bitcoin yesterday I Took some more profits off the table for My loan position I closed out five

Percent of my Bitcoin swing trade once Bitcoin is trading on 25 000 that was Absolutely a very good opportunity of Course to take some profits off the Table currently still forty four Thousand US dollars in profit and Looking to take more profits along the Way up here and if we see a break Towards the downside I'm going to of Course hedge my bets by opening up a new Trade on bitcoin what is going to be a Shorting position but yeah for my Shorting position I need to wait for Some more confirmations just like I told You a moment ago because no one is going To share Bitcoin on support because that Is absolutely stupid to do you can see Also in the daily time frame that we are Currently seeing a severe objection from Of this level right the twenty five Thousand dollars this is the level to Break here if Bitcoin sees a massive Rejection from here on it's going to be Super bad for the market and more Importantly this is just the level we Need to break above of twenty five Thousand dollars is the level we need to Break above of because twenty five Thousand dollars is just that Range High It's just the pure resistance you can See it happening right now on the 200 Weekly moving average we're seeing a Rejection from the 200 weekly moving Average on The Daily time frame

Happening every single time here and on The weekly time frame yourself as well You can see that we're yet again seeing Another rejection from the 200 weekly so It's important to break up of 25.2k Right now for Bitcoin many resistance Are meeting well yeah with each other And that's why we are seeing such a Significant rejection from off this Level happening right now you can also See that Bitcoin is parabolic as getting Retested right now here it's going to be Crucial to hold on towards the Bitcoin Parabolica if we break below the Bitcoin Parabolica yes then we could even see a Bigger reversal happening in the market Because so yeah I'm going to keep you Guys up to date what is going to be Happening next year but currently if I'm Really going to want to be predicting What is going to be the next move for Bitcoin I have to look at the four early Time frame and I have to look at these Ranges if we break below the range that Is the confirmation that we're going to Go lower that is the confirmation we Should be looking at the shorting Position yes if I had the opportunity if I was awake I already would have been Opening up a short position Unfortunately I was asleep and currently I am looking for this next trade right Here what is going to be also a pretty Epic trait if I'm going to be shorting

The confirmation it could be like a Price target of four to five percent Towards the downside it's a risk to Reward trade of about five so it's Definitely worth to check that out here So yeah new trade is coming very soon Here I do want to be announcing the next Trade but of course like you do know on The channel if you're familiar with my Channel I'm only looking for low risk Trades in this market because yeah what Gives me of course a bigger chance of Being right all the time and that is of Course exactly what I want to be having Here right so I want to be red I have More winning trades than losing trades And that's why I'm taking it very slow With opening on my trades but but Currently if I do see the confirmation Of the break of this level I'm going to Go in with a big shorting position on Bitcoin anyways this is it for me on Today's of this video I hope you truly Enjoyed it I hope you learned something From it if you did so don't forget to Subscribe to the channel and I'll see You guys on the next one peace out Goodbye

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