The volatility just hit the markets and Bitcoin dropped more than 16 percent While we saw more than 1 billion US Dollars in Bitcoin loans and shorts Getting liquidated more than 18 of the Total interest leaving the market and More importantly Bitcoin is currently Breaking its very important downtrend And according to some various news Sources Elon Musk has sold more than 373 Million US dollars worth of bitcoin so I Will be exactly discussed this what is Currently happening for Bitcoin where is The next big support the most important Trend line we've been looking at has Currently broken down and I will be Exactly talking about what is next for Bitcoin right now where are we standing In this cycle and I will be exactly Discussed this so don't forget to slap Up the library on today's update video So can we smash it back up at 500 lines That will be absolutely incredible and With that of being said let me jump Straight away in towards the imminent Short term for Bitcoin so like you can See on the image short term Bitcoin is Seen an accelerated dump towards the Downside and ride note finally looks to Be that we're finally starting to see That Bitcoin is cooling down here and Basically for the entire night ball I Was sleeping this happens and Bitcoin Dumped towards the downside hitting a

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Low of 26 000 US Dollars and those some Exchanges even hitting lows on 23 000 US Dollars since this movement was so sharp Towards the downside looking at the one Hour time frame we are massively Oversold and we're starting to see a Small little bands on the RSI right now Here but looking at the open interest we Can currently see that more than one Billion US dollars in Bitcoin lungs and Shorts got wrecked and got liquidated in The past 24 hours and what is very Interesting to see that if you're going To be looking at the open interest right Now on the market you can actually see That on this movement towards the Downside more than approximately 28 of The total open interest on bitcoin got Sweeped out in the market in the past What is it eight days or so or basically Since this move towards the downside Happened so a lot of open interest got Out of the market and if you're going to Be looking at where the open interest is Currently standing at it's all the way Back at its same level of June 2023 here So at this beginning point of the ETF Hype so due to the fact that the Bitcoin Sport ETF was apparently coming or that Black rose BlackRock was applying for a Bitcoin small DTF we saw massive inflows Of people buying Bitcoin with leverage And they right now all got flushed out In the market because we're right now

Below that level where the Bitcoin sport ETF hype started so this is definitely a Very important thing to be seeing here But more importantly if we're just Looking at Bitcoin and if we want to be Seeing what currently is going on here We can first of all also see that on the Four early time frame we're actually Hitting a low on the RSI never seen Before in the last seven years on Bitcoin so be on high alert the load That we're currently seeing on Bitcoin In terms of oversold has not seen in an Approximately seven years so Bitcoin is Right now definitely extremely oversold Once these movements happen so very Quickly towards the dance side they also Give you a very good opportunity to be Starting to be accumulating in the Market again but now let me go over the Most important part of this video and Where are we going to be finding support For Bitcoin so if you're zooming out on Bitcoin you can clearly see the Bitcoin Once again has been retesting that 25k Region right 25k region has been Previous the 25 000 US Dollars has Previously ran acted as very strong Resistance also right here but once we Broke above it this level the 25 000 Clearly acted as major support So Bitcoin is right now back towards this Level and like I've said once Bitcoin is Going to be breaking below that support

Line right here my price Target is Actually 25 000 but I was not really Expecting that level was going to hit so Quickly so yeah we saw Bitcoin moving Down very sharply and if you're zooming Out also on the three-day time frame you Can clearly see Bitcoin is Rhino trading At major major support in this market And if we can be holding on towards the 25 000 it's going to be absolutely Crucial but if we do break below that Level yeah then we're actually going to Start to see levels around 21 000 US Dollars be potentially effect for the Next movement towards the downside So Currently a quick update what I'm doing Here with my trades I mean I got out of My Bitcoins right remains to be in my Ethereum position right now here with an Approximately 30 loss what is of course Quite a significant loss that I'm Currently making on my ethereum trade But I'm looking to be scaling up this Trade here if ethereum does really come Down even more and my targets where I Really want to be opening up more at is Around 1500 US dollars so that's another Approximately 180 down here so if I get The opportunity to see ethereum even Lower I'm going to start at more margin Towards adding more margin towards the Straight I already added even more Margin here so currently I'm in Approximately 180 000 US Dollars long on

Ethereum I just want to be adding more And more margin as prices going down Here but yeah if you really want to be Benefiting from accumulating Bitcoin on These lower prices go through the link Description of today's video where you Can actually write an assignment account On bodybuild with a 30 000 US dollars to Post a bonus so if you're interest in Buying and accumulating crypto go to the Link in the description of today's video Where you can sign up an account right Now here so we do know volatility Finally finally hit the markets but it Really happens that the build utility Was towards the downside so that is Definitely very unfortunate we did know A big move was brewing but unfortunately It happens to be towards the downside so Yesterday also the news came out here That I tweeted about it as well here and Accordingly Elon Musk sold all its 373 Million US dollars in Bitcoin but be on High alert this news came out after Bitcoin already forms its lows here that Is very interesting so it was probably Not the catalyst so that is why I would Say this news is not the Catalyst of the Movement towards the downside and we Have to really wait maybe a few more Hours before Elon Musk is going to say Something about it and maybe the Bitcoin Price action is going to be bouncing Very quickly back towards the upside

Since this news is not even confirmed And even if they did salt it wasn't Likely to be today and it was based on a Previous report so what we did sell Today here is that the retail investors Really freaked out here and sold out all Their Bitcoins will cause massive long Liquidations and short liquidations Across the entire market so yesterday What really happened due to the fact of The price drop was likely due to the Fact of the unfavorable economic news in China and the bearish movement in the U.S stock market on high risk assets so Now you know you've got once again and Chance to accumulate Bitcoin cheaply so Please don't panic and this is the time Where you have to stick towards your Strategy and for me it's the dollar cost Average strategy Bitcoin is once again Cheaper and yes I once again see this as An opportunity even though I'm highly Aware that we're likely the bigger trend Is going to shift around right now here I think the bias for Bitcoin right now Has to be shifted around here you can Currently see that maybe for Bitcoin We're going to be starting to be looking At somewhat of this Peril Channel right Now on the market we're going to be Starting to maybe start Bitcoin Accumulate between this region right Here I think it's very likely if Bitcoin Is going to be remaining to be trading

In this region because if you compare Bitcoin because if you compare Bitcoin Towards its previous times around across And hoping usually before the whole Thing it tends to go sideways of course We had the pandemic crash with it but I Do definitely see that as a Black Swan Event by the end of the day and Bitcoin Was basically still bouncing between the Highs of lows of six thousand dollars And ten thousand dollars the entire time Of that market and maybe this time Around that's going to be 25 000 towards 31 000 US dollars so yes I do really Still see the 25 000 as a major support Level and that is why I will still say Here this is a very good range for Accumulation and I don't really see this As a bad time for accumulating your Bitcoin positions at all so further on I Can currently see this is not confirmed Yet so please don't judge me on this but If the three-day time frame is going to Close somewhere like this we could be Starting to create a bullies Divergence On the three-day time frame and that Will be of course absolutely amazing to Be seeing here and if this really gets Confirmed you will be you first want to Know on the channel so make sure to stay Subscribed there and further on if You're just really zooming out on Bitcoin on that three-day time frame we Are currently hitting support we already

Banned from support to be very clear That we did clearly broke the very Important legendary support line towards The upside we are probably going to see More bearish suppression towards the Downside over the course of this time Here the be on high alert I have said This several times before in these times Where we see of course a lot of panic Hit the markets think about how 2024 is Going to be and have said it several Times before 2023 is the year of Accumulation but in 2024 the deadline For the Bitcoin spot ETS is going to hit The markets the U.S elections are going To happen the interest rate costs are Going to happen definitely since Otherwise the us is going to divulge on Their own debt and more importantly the Bitcoin whole thing as well coming up in 2024 so yes everything that's happening Right now here you should take with a Grain of salt here it's fun that you see In the market this is time to be Accumulating maybe Bitcoin is going to Come down to fifteen thousand dollars But I don't care I remain to be dollar Cost averaging every single day in Towards the market I'm going to be Buying more and more Bitcoin until Bitcoin prices of 35 000 because then I Don't think it's a fair valuation to be Buying more Bitcoin so right now I Remain to be believing that this is a

Good time for accumulation so I'm Personally doing that it's no Financial Advice it's just my own strategy I Remain to be buying more Bitcoin to Prepare myself for the 2024 Bull Run in These times where big moves towards the Dance that happened you start to you Have to start to zoom out there you have To know and understand the bigger Perspective in this market we do know That currently open interest has Massively dropped here what is giving You a good opportunity opportunity to Accumulate Bitcoin once again here since It's most certainly lower risk than the Previous times and previous months Before us and more importantly Bitcoin Has never been so oversold on the poorly Time frame than ever before so that was It for me in today's update video here We have to wait a few more days or maybe A few more hours before this news was Going to get confirmed about SpaceX and Elon musker so maybe it's going to shift Them Market designs very quickly again And then we saw a massive massive short Liquidation event that really got people Out of the market and then we could park And then potentially we could start the Spike very quickly so things could Change very quickly in crypto and Bitcoin so make sure to pay attention That was it for me in today's of this Video and I'll see you guys on the next

One peace out goodbye

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