After the bearish Divergence that Bitcoin created yesterday Bitcoin Straight away dumped towards the Downside and in this exact video I will Talk about our support Targets on the Lower side because yesterday I said if Bitcoin breaks below this white box Right here I expect it's going to come Back towards the upper sloping support Line we've been creating and that has Been exactly what has been happening so Far so on today's video I will talk About my price Targets on the lower side Where is the big support for Bitcoin and What will happen if we're going to be Breaking it I'm going to talk about what I expect is going to be happening next For bit coin the funding rate that has Significantly came down what is very Positive in the market right now so Without any further Ado guys don't Forget to stap up the like button on Today's update video can we smash it Back up 500 that will be absolutely Incredible with that being said let me Jump straight away in towards the Content and yes looking at that 1 hour Time frame for Bitcoin we' have seen Some very interesting PA because Bitcoin Basically came down came up again came Down again and then right now is once Again coming up again and if we're Looking at the open interest on this Chart we can straightway see that

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Basically what currently is happening is A lot of liquidations Bitcoin is chasing Liquidations upwards and downwards and We can see it on the funding rate Because right now for the first time in Like one week time or so the funding Rate is very close towards the mean Again what also right now means that There is not a significant amount of Overweighted long positions in the Market anymore and that really Significantly reduces the risks in the Market right now for potential upside of Bitcoin so honestly it's very good that We have seen this price action happening Right here I've been saying it for quite A while I remain to be expecting that Bitcoin is going to consolidate in this Region between $34,000 and $ 338,000 us so far we've Been trading in this region for quite a While already to be exact we entered This region somewhere around the 23rd of October so it's already 24 days that Bitcoin has been trading Above This Level and honestly I will be remaining To be expecting that Bitcoin could Potentially trade around this region for Another four to six weeks here why is Because honestly I have also tweeted About it but I really don't think we're Going to get a big move until the news Is going to be spiking the market up Again here and that will be probably the

Black Rock Bitcoin spot ETF approval so What I will be mainly doing is going to Be looking at the range and first of all Yesterday I said if Bitcoin breaks below This level I think we're going to go Down towards the upper sloping support Line so we broke that level we went down And I also said that yesterday we were Creating a bearish Divergence and double Was looking very very risky on longing Bitcoin and though the chances for Bitcoin going lower were significantly Higher due to the fact that the funding Rates were also significantly High Yesterday so this exactly played out but What are we going to be looking at next Year so let me quickly zoom out here to This region and what we can currently Straight away see here is maybe this Level right here this green box that I'm Currently drawing is maybe the most Important range of this trend so I see This trend that we're currently trading In as three ranges so you've got the Lower range here do line I'm going to be Making right here so this is the Lower Side of the range the green dotted line Why is because here you can clearly see We found two touch points and from of That point we have never retested it so If we potentially break below this level Honestly then I think we could be seeing An exponential move towards the downside So this is the Lower Side of the range

Currently what we have been finding is That of course on that move towards the Upside we found some liquidity over There and currently that is exactly what We have done here we've grabbed the Liquidity from the previous high in the Market so this is the high in the market So of course if we break above the high With a confirmed candle close then Potentially we could come a little bit Higher and we potentially could push Towards higher levels but I am only Really expecting this is going to be Happening once somewhat of news is going To be hitting the markets for Bitcoin so Basically what we're looking at here is Two phases in this consolidation range That's the top side and the Lower Side So if Bitcoin breaks below this green Box right here honestly what I will be Expecting is that Bitcoin is going to Consolidate between these regions right Here and the buy zone is definitely Going to be 33.7k and the sell zone or if we break Above the level the buy Zone again will Be around that 30 35.4k so this the Levels that I'm currently looking at This is the structure that I'm looking At and of course if Bitcoin potentially Breaks below 33.5 K what I don't really Expect is going to be likely I don't Really think it's going to be likely That Bitcoin is going to be breaking

Below that level but if it happens the Next big support is going to be around 31.5k so just for your information if it Happens that would be my next targets But I don't really think it's going to Be all too likely that we're going to Hit these targets if we're going to be Looking at where the liquidity LS in the Market we've got some liquidity uh Sitting around 35,000 us and a lot of Liquidity here around 38.2k so that is Still very interesting in my opinion and That could potentially mean that we're Going to see another short squeeze Anytime soon here and yes guys I will be Especially recommend to keep your eyes Wide open on the news because honestly I Think that the Bitcoin black Ro sport ETF is going to get accepted within the Coming 58 to 55 days here somewhere Around that region so it's only two Months out right now here and once it Gets accepted that is probably going to Be the big Catalyst for the price action Of Bitcoin so if you're going to be Trading it make make sure to keep your Eyes wide open on the news as well here So if you're going to be trading on Bitcoin make sure to check it out in the Link description because if you sign up An account using that link below you can Claim AOS bonus up to $40,000 on buybit And without this link only 400 and at The same time you could claim a free

$1,000 airdrop position for only Depositing $100 like you can read in the Conditions to claim the airdrop you only Need to deposit $100 within 7 Days Complete kyc and you have never traded On usdt before so if you're signing up a New accounts make sure to follow these Rules and you can claim a free $1,000 a Position on Pepe ethereum or on bitcoin So that is super valuable so at the same Time we can see this orange graph right Here what is the market cap of tar has Been significantly increasing and tar is Basically increasing as long as Bitcoin So as soon as tar is increasing and Printing more money usually what we see Is that Bitcoin goes up as well here so Interesting fact to be looking at and I Would definitely recommend for everyone To check it out and honestly I don't Want to be Shilling or saying I told you So but yesterday I already warned Everyone for the losing momentum that Bitcoin is currently creating is quite Dangerous in my opinion because Bitcoin Indeed is still creating higher Highs But in fact while we are creating these Higher highs the RSI is still losing Some momentum and creating lower highs So the momentum is diverging the Momentum is drying up here and due to That I am really expecting that Potentially this move I'm not saying is Going to come to an end because I really

Think this move is going to be extending But potentially on the IM andate short Term we could see some cool off some cus Consolidation before the next move is Going to be happening because honestly Yes I think Bitcoin is going to be Crushing to 100K anytime soon here and Honestly once the Black Rock sport ETF Gets accepted I really think that in the Coming one to two months after that We're getting to sit somewhere around $60,000 used so I am super excited about It and honestly I think Bitcoin is going To go up here but only on the imminent Short term while we're waiting for the News I think there could be some sell Pressure still in this market so that is Why it remain to be expecting we could Be going some sideways and you have to Understand I'm currently one 100% spot Long on bitcoin but in terms of longing Bitcoin with leverage on the market Right now I would be very careful and Honestly I will be looking at some long Positions if we do enter my interesting Ranges I just talked about them in this Video all right this region 33.5 K about This region 35.5k or potentially this Region to 33.6k so you have to be Waiting for your good levels to be Entering and of course if we will ever Retest this level I've been talking About so many times before this would be A gift in my opinion if we would retest

This level it will be a massive Opportunity for everyone out there and Currently we're even retesting that Weekly low here that we right now are Trying to be flipping into support so Let's see how it's going to be playing Out here this was a massive level of Revious support so let's see if we can Once again flip it into support since we Already confirmed a weekly candle above It but of course on the bigger Perspective of it all guys we are Trading right now in this bullish Strength here and honestly I am super Excited about the coming days and weeks Ahead of ourselves so 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

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