Bitcoin broke below massive support and While this is happening we are exactly Finding support on this massive ort Sloping support line and right now there Is a lot amount of liquidity piling up Again so on today's update video I will Talk about my price targets of the Breakout of the symmetrical triangle and Many more important stuff I will talk About my forecast where I think Bitcoin Is heading towards next and many more Important stuff on bitcoin and ethereum So without any further ado don't forget To slap up that like button back up 700 Likes on today's update video that will Be absolutely incredible and with that Being said Le me jumps straight away in Towards the imminent short term here on The Bitcoin price action so looking at Bitcoin yesterday we actually broke Below this very critical support and it Looks to be that we're finding somewhat Of support in this region right here so Bitcoin got exactly rejected from the Level I was expecting is going to be Providing a lot of trouble and right now We are just trading a little bit lower Sitting around 42. 2K what I would say Honestly as long as we do hold the lower Structure right here it remains to be an Uptrend of course so I don't necessarily Think there's an all too big reason to Worry about the fact that Bitcoin broke Below this very important support right

I show You how To Make Huge Profits In A Short Time With Cryptos! I show You how To Make Huge Profits In A Short Time With Cryptos! Welcome to the Future of Money

Here but if Bitcoin really moves down Here my big support Target is going to Be 39.7k all the way down to 37.6k so in Case Bitcoin is indeed going to be Breaking support it's going to be my Green box where I'm going to be aiming For that is going to be profounding Support So This is the level where I am Interested in buying Bitcoin maybe I Won't be able to add more liquidity to The trade that I've already got open Here on bitcoin but if it does happen I Think it's a very good region to be Looking at long positions right now for The short term on bitcoin yesterday we Were creating this new symmetrical Triangle I tweeted about it on Twitter That we're creating a new symmetrical Triangle and after that of course we had That breakdown and Bitcoin reached its Price Target on the lower side so these Consolidation phases are very important To pay attention towards also make make Sure to follow me on Twitter to stay up To date about more real time stuff as Well but right now while everything is Playing out while Bitcoin has seen a Slight decreasement in price value we Are still seeing that a massive amount Of liquidity is currently getting piled Up above us and it's sitting around at 43.7 to 43.5k region approximately $600 Million Us in Bitcoin Shores and Honestly if it's going to become more I

Think it's more likely that we're going To go towards it because right now it's Not that much amount of liquidations yet So let's see how it this going to be Playing out here because usually the Direction where Bitcoin moves towards is The direction where the majority of the Liquidity lays in the market so that is Important to understand at the same time Funding rates are still positive meaning That there are currently more long Positions in the market what is Definitely a sign of worry but they just Have to pay in higher interest on their Trades right now looking at the 4ly time Frame while Bitcoin had that breakdown Of the citical triangle break of support It exactly bounce once again from that Upper soing support line I discussed in Yesterday's video so this pattern is Going to be massive important to be Looking at right now here and honestly Once we break out of this pattern guys We are going to get a massive move for Bitcoin and let me straight away say What kind of a move we're looking at if Bitcoin breaks bearish we will be Looking for a price Target somewhere Around 38.5k and honestly I think I'm going to Be approaching the big levels of support Below us before that and I think that is Going to be 39.7k this region right here And if we can't hold that level it's

Probably going to be $38,000 this this very important Resistance box right here so these are The two levels I'm looking at on the Lower side but if in case Bitcoin breaks Towards the upside it would send Bitcoin Up to 46.5k what is of course a massive Price Target on the top side and one Thing you want to be seeing if we Confirm the break of the downtrend is of Course a retest of this level and see it Flip into support and that will be your Buying opportunity and also if we're Going to go short or if Bitcoin breaks Down you want to be seeing that retest And this level act as resistance while Previously R acted as support and these Patterns they tend to work very well if A lot of people pay attention towards it And these patterns they tend to be just Working extremely well in the face of The market where we're currently in so I Will definitely definitely keep my eyes Wide open on this pattern and also Bitcoin exactly got rejected from the Level we discussed earlier I mean Honestly this was the big level of Support we were looking at and right now It just flipped into resistance but just The most important pattern to be looking At right now is going to be this massive 4 hourly consolidation phase I'm going To keep my eyes wide open on it and Honestly if I'm going to be looking at

My expectation it's still playing out I Think that Bitcoin is going to be remain To be consolidating until we're going to Be approaching that Bitcoin spot ETF Approval window what is currently only An approximately 20 days out from now so I am really expecting that fairly Anytime soon Bitcoin could start to see Another significant pump towards the Upside because yes guys we're so Extremely close towards that Bitcoin Spot ETF this is a very unpopular Opinion but I really do think that if it Gets accepted we're going to see some Slight decreasement in the price because Literally there could be so many people That are just joining Bitcoin and Entering the price action of Bitcoin due To the fact that they're betting on the Acceptance of the Bitcoin spot ETF and After that they're just going to be Exiting the market so there is a chance Uh there is a scenario where it is going To be meeting the top four Bitcoin since It's so extremely hyped up I do think For the long term is extremely bullish But for the short term we could Potentially see a cool off but I would Only approach that as an opportunity and If it weren't to be happening I would Just take a a different approach I only See if this happens I see it as an Opportunity because eventually I do Think that after the Bitcoin halfing we

Are going to get another cycle so if you Want to be trading Bitcoin yourself and Just how I am making my money with it Don't forget to go to the link Description of today's video because if You right now sign up an account using That link below you could claim a Deposit bonus were $40,000 and without this link it's only 400 and on top of that you you could Claim an insane free $1,000 position on Ethereum bitcoin whatever you want and All you need to do here is sign up an Account using that link below complete Kyc level one deposit $100 in your first S days and you will be able to claim This free $1,000 AAL position and if you Can't trade on buybit due to regulations Or due to whatever make sure to check Out fmax in the link description it's Completely similar to buy but you don't Need to do kyc so if you want to be Trading over there check it out in the Link description because everything you Deposit you will get a 10% cash back so Then the last few charts I want to be Discussing Bitcoin is currently breaking Out of this cop and handle pattern we Just also exactly created in the Previous bare Market does this mean Right now that we're in a bull market I Mean honestly it looks like we are in Somewhat of a bull market for Bitcoin But I personally wouldn't be approached

It yet because if you're looking at the Timing of the current stage in the Market it could also mean that we're not In there yet so I'm approaching it Completely different then one thing you Have to understand is that the more Tener gets printed the higher the tener Market cap comes the higher the Bitcoin Price comes you can literally see that Usually Bitcoin moves this uh exactly in The same matter just like tedar does Here so I will keep you guys posted if Tedar is minting a lot of money but Usually that means that Bitcoin is also Going to go up so that is a very bullish Thing for Bitcoin so keep your eyes wide Open and another good trading Opportunity is I think this 4-Hour Consolidation phase on ethereum it looks Very similar towards the 4-Hour Consolidation phase on bitcoin that is This one I mean so yeah ethereum is also Cre a massive consolidation phase it's Also up a little bit here compared to Bitcoin the only thing I think about Ethereum right now here is that it is a Little bit dangerously against Bitcoin Since what we're currently seeing for Ethereum is that we're testing this very Important level of support and if we Break this we could fall potentially Very low and we're creating this what is It this exponential lower high structure What I think is very bearish right

Ethereum indeed has been bouncing a Little bit harder than Bitcoin today but Still be warned it could be very Dangerous but yeah that pattern I just Pointed out is also a good opportunity On ethereum and what I would really like To see here is like a small move towards The upside and retest of this $2100 Level and at that point I think it would Be a very nice time to get into ethereum Honestly I think still ethereum is going To probably perform Super well on the Next Bull Run but right now in this Stage in the market it could be still a Little bit more risky so this was it for Me today's update video don't forget to Slap up that like on today's video share This video with your friends if you do Think this video was extremely valuable I personally think it's super valuable So make sure to share it with your Friends and I see you guys on the next One peace out goodbye

You May Also Like