Right now Bitcoin is creating a Symmetrical triangle and in this exact Video I will be talking about this Better and how we could be trading it And also about many other important Things here that are playing out in the Market because currently we can see that The Bitcoin price section has not been Moving up at all well the S P 500 has Moved up significantly yesterday so I Will be discussing this and much more Don't forget to slap up that like button On today's update video will be Absolutely incredible can we once again Smash a deck above 300 likes that will Be absolutely amazing but with that Being said let me jump straight away in Towards the content and let me start off With discussing the symmetrical triangle Right now on the Bitcoin one hour time Frame once looking at the imminent short Term for Bitcoin we can finally start to See that we're creating somewhat of a New consolidation phase here in the Market we're clearly spotting a downward Sloping resist line from the top side And another personal open support line From the Lower Side what means that Currently the price section is getting Squeezed in towards an apex and we are Expecting that today this breakout will Be happening in approximately 10 to 11 Hours from now on and once this breaks Out here we could start to see of course

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Another volatility swing here either up Or down of course if we break the Downtrend we are going to see more Upside and also vice versa the other way Around the price targets that I will be Having for this exact breakout are not Necessarily so big because if we're Going to be having a bearish breakdown We will be going towards levels around 16.5 K and if we will be seeing a Bullish breakout we will be targeting Levels towards 17.1 K so these are not Significant price targets however we Could have of course another trading Opportunity coming up towards us anytime Soon also looking at the four early time Frame what is in my opinion very Interesting is that if you look closely About where we got the rejection from we Can clearly see that actually this level Where we got rejected from provided Resistance all the way in this whole Trend already and that is why it's going To be important to be breaking about That 17 thousand dollar barrier because The 17K has basically been that Important level of resistance that has Been providing resistance the whole time In this trend right here and that is why It's going to be extremely important to Look at of course if we do break above It the next Target that I want to be Seeing a break above is at 17.5 K Because that's the clear previous Range

High in the market if we do break above The previous Range High in the market That is the point where I will be seeing A new bullish Trend getting started but However as long as that is not happening We are expecting lower lows because we Are already in a downtrend for Bitcoin Then looking at the daily time frame it Is actually quite interesting if we're Looking at Bitcoin because if I'm Looking at Bitcoin at the daily time Frame you can see yesterday Bitcoin of Course sold this red candle right here Whoa in fact yesterday the S P 500 sold Significant push towards the upside and I'm saying significant but it's like 1.8 Percent what is quite significant for The s p well Bitcoin yesterday moved Down by an approximately 0.62 0.5 Percent and that is definitely not a Lovely thing to see because usually Bitcoin moves together with the S P 500 And I mean yeah it's decoupling but Right now in a negative way because the SP is moving up and Bitcoin isn't why is It I personally still think because There's so much fun in the market of Course the game a lot of fun but binance Also we of course the recent FTX Collapse and due to these reasons Probably Bitcoin is not following the S P 500 towards the upside but very Quickly going to say it if the S P 500 Does break this downtrend right here

It's going to be good for the s p Because then potentially the bottom Could be in and that is also in the end Of the day going to be very good for Bitcoin and also I want to be pointing Out if we're looking at this downtrend It basically started at the beginning of 2021 here you can see it here the on the 4th of January this whole downtrend Started and if we will be looking to the S P 500 downtrends we can currently see That from a 12 year perspective we are Right now down 19.8 percent what is the Most worst direction towards the dance That we have ever had since 2008 before It was around 2001 and before that it Was in 1975. so we can see that we're Right now in a list of one of the most Significant downtrends in the S P 500 History and to be exact we are currently A number four so this is a very Significant downtrend and of course like You can see from all these Corrections We had in the market every single big Correction every single year that the Market goes down so significantly we Always have seen a recovery on the year Following so that is also what I will be Aiming for right now I honestly think of Course we could go lower next year I'm Not saying we can't but it is very Likely that the market is going to Continue to grow towards the outside and In these tough times like you can see

From history the most amount of gains Are made if you're buying in a bull run The gains are less significant than you Can make if you're buying in a bear Market and that is exactly what I what I Want to be pointing out and that is also The reason why I am currently building Up this swing trade position for Bitcoin Because yeah I am swing trading Bitcoin With 1.7 x leverage because I personally Think that the Bitcoin bottom is way Closer than everyone is anticipating and That is why I'm currently building up This swing trade on bitcoin I'm trying To catch the exact loan on the bottom And I'm only doing it with 1.7x leverage So the yeah the risk I'm taking is most Certainly not that big here if you are Interested in trading you could do so as Well you can check it out in the links In the description right now here and if You're from the US and you want to be Trading you can check out bit Gap Because bitcat allows you to trade from Of the US and if you're anywhere else in The world you can check out Bible so Check out these links in the description If you want to be claiming an additional Deposit bonus looking at the bullish Events we can currently still see yeah We're still squeezing in here the daily Time frame still has not made that move Here if I'm looking at the total market Cap for crypto for me it looks very

Interesting because if you look at this Blue line right here you can clearly see Boom we had amazing retest the total Market cap for crypto is currently Having the perfect ultimate retest and That is also making myself feel pretty Bullish also if I'm zooming in here Looking at the RSI looking at the Momentum we're creating we're creating a Lower low on the weekly time frame well In fact the price action is forming at Higher low what clearly means we're Creating and that bullies Divergence on The weekly time frame on the total Market cap for crypto so that is making Myself extremely bullish on the market I Think this is definitely a very good Development what we're spawning here of Course the legendary support line still Holding Bitcoin up or closing the weekly Candle three days from now on and it Looks to be that we're still bouncing From it and I mean this is of course one Of the most beautiful patterns of course We looked at the consolidation phase From 2017 and 2020 quite a long time Here you can see we broke towards the Upside and it followed in an absolutely Massive bull market and right now we're Also yet again creating another Multi-year consolidation phase because We've been trading in this pattern that I'm currently pointing out the falling Wedge for all already over 721 days here

And once it breaks out it will most Certainly show us a lot of volatility And most certainly you can clearly see This is a beautiful pattern to be Looking at and I am personally trading It a falling wedge is a typical bullish Bias continuation pattern and usually it Tends to be breaking towards the upside So don't say it that I did not warn you If it's going to be playing out like This of course I'm not expecting it's Going to be a straight line up here However Um falling watch its price Target is Always on the top of the wedge what is In this case around 60 to 69 000 so that Is quite a severe price Target I mean Personally do I really think that price Target is going to get rich I think it's Likely to reach that price Target but More importantly I'm going to keep my Eyes wide open on this potential Breakout and there's also one of these Many reasons why I'm string training Bitcoin right now here so if you did Enjoy the video don't forget to slap up That like button make sure that you do Not lose your focus on the market right Now because we have one of the most Worst years in an approximately 14 years Time so this is the worst year in 14 Years time times what means that the Opportunity has never been bigger in 14 Years because yes in every single

Collapse in every single economic Recession the biggest opportunities and The biggest money is made so make sure To keep your focus and this was it for Me on today's update video if you do Like the content consider subscribing it Will be absolutely amazing and I'll see You guys on the next one peace out Goodbye

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