Bitcoin has seen a massive crash towards The downside and while this is happening We're creating some new patterns that Are potentially suggesting the next move For Bitcoin but more importantly in Today's video I will talk about the Biggest levels of support the most Important charts that are going to tell Us where Bitcoin is heading towards next Because I personally think you are Getting fooled since the funding rates On bitcoin once again have been reset so I will be talking about this and many More important charts so without any Further Ado don't forget to slam the Like button back above 1,000 likes that Will be absolutely incredible with that Of being said let me jump straight away In towards the content so looking at the Imminent short term Bitcoin had a Massive crash towards the downside and Basically what happened in this crash is That massive amounts of long positions Got wiped out to be exact more than 800 Million US dollar worth of bitcoin long Positions got wiped out and currently Looking at the liquidation heat map There is not a lot of liquidity laying Below us or above us so so for me right Now to predict Bitcoin is either going To go up or down from the liquidation Heat map will be very hard to tell but We are currently seeing an incredibly Good development and that is that the

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

Funding rates are once again back to Neutral previously R the funding rates Were extremely positive meaning that Everyone was longing in the market but Apparently all those guys that were Longing in the market they could Liquidate it out and that is of course Super good in my opinion there is indeed Another pattern currently emerging on The Bitcoin price action what is called A rising watch what is a typical bearish Bias pattern however if we indeed break Towards the downside I think it's going To be a fake out before we're once again Moving towards the upside because you Have to understand this Bitcoin Literally dumb towards the downside due To speculation of a potential spot ETF Rejection but honestly this speculation Is based purely on speculation so yeah Once it really gets accepted and it Doesn't get rejected the pump is only Going to be bigger for Bitcoin and Literally tomorrow is the day where the Bitcoin spot ETF window is going to be Opening for approval so that is of Course going to be massive and I do Expect that there is going to be more Volatility for Bitcoin in the coming Hours and days ahead of ourselves and Most likely indeed yes we are going to Get that Bitcoin SPO ETF and I think it Is going to get accepted and we are Going to see another push towards the

Upside and a lot of these short Positions that are currently getting Opened are going to get wiped out again So while I talked about my two most Important levels of support while we Were sitting here on the top side this Level right here fell to hold support But the level here on the Lower Side Clearly held us up as support this Previous downward sloping resist line is Currently acting as support and that is A very good thing to be seeing in my Opinion and quickly going for in towards The in the short term guys since we're R Creating that Rising wedge pattern there Could be a potential scenario where Bitcoin is going to be breaking down Come down back again towards 41.6k Potentially and then bounce back towards The upside again and honestly if Bitcoin If This Were to be happening if Bitcoin Were to be going even lower than that And go even below $40,000 I still have My buy ORD set up here around 39.7k you Like you can see here on buybit Unfortunately yesterday on that Wick Towards the downside I just didn't got Entered I was so close with having an Entry again but unfortunately I did not Got entered so I am still looking to be Longing Bitcoin but I am looking to do That in a favor able position where Bitcoin is in my opinion in an Interesting range to be accumulating so

So honestly if you did got a position in Yesterday congratulations you did an Absolutely amazing job here usually what Tends to happen is that Bitcoin tends to Follows the liquidity and tends to grab The liquidity on the Lower Side before Moving up so potentially we are still Going to be having that fake out towards The downside before ultimately moving up But if that were to be happening for Bitcoin if we really were to be seeing That move towards the downside I would Approach this as a gift and not Necessarily as a b bad thing so that is What I'm currently doing and if you want To be trading on buybit or whatsoever Guys make sure to check it out in the Link description because you can Currently claim it Theos bonus worth $40,000 and without this link it's only 400 and on top of that you could claim a Free $1,000 position and all you need to Do is go to the link description of Today's video sign up an account Complete KC deposit $100 in your first Seven days and you could claim a free $1,000 position on buybit what is of Course also a massive deposit bonus we Have currently got running so going Further towards the content we can see That on the daily time frame there's Nothing really that we need to be Worrying about of course we had that Massive breakout for Bitcoin above the

Previous high but apparently it was a Fake out for Bitcoin so Bitcoin is Currently still holding up towards the Upper sloping support line what is Definitely also a very good thing for Bitcoin so as long as Bitcoin is not Breaking below this level I don't see a Reason at all to be necessarily Panicking on bitcoin and like I said in The previous videos while we were Trading in the red box indeed it was a More dangerous period for Bitcoin and if We will ever come back towards that Green book I would see this as a more Favorable opportunity to be actually Accumulating Bitcoin and of course if Potentially the ETF does get rejected of Course it changes everything but from Now on I do still see this as an Interesting era where I would love to be Accumulating more Bitcoins further on we Can currently see that Bitcoin on the Weekly time frame also exactly got Rejected from my R box of resistance so Guys you should take these levels very Seriously I don't think we're just going To be just breaking above them the thing We did do is that we CED some sell Orders and we're still hanging above $43,000 and and I basically want to say As long as Bitcoin is holding above 39.7k I don't see a reason to be Panicking and yeah we're just days out Before acceptance for the Bitcoin SP ETF

And I think it is going to be absolutely Crushing and pumping the prices for Bitcoin so don't get fooled right now This was it for me in today's update Video thank you so much for watching and I'll see you guys on the next one peace Out goodbye

You May Also Like