Right now Bitcoin is creating a falling Wedge and in this exact video I will be Talking about the price sockets but more Importantly I will talk about my next Trade and how I am currently approaching This market right now in terms of the Trend and in terms of a continuation if We do break this trend so make sure to Watch this video till the end and can we Once again slap up the likes back above 500 that will be absolutely incredible And with that is being said let me jump Straight away in towards the video first Of all my face cam is not working today But tomorrow it will be working again Currently if I look at the one hour time Frame we can start to see that we're Creating this downward sloping Resistance line and after we break this Downward sloping recess line we could Potentially see a small little release Towards the upside but as long as we are Trading in this downtrend where we're Forming lower lows together with lower Highs as well we should remain bearish On the immature term and as soon as we Do flip the trend that is the point Where I could start to become bullish of Course you can clearly see that this is The main previous support Target and if We do retest this level it's likely that It is actually going to provide Resistance and that is why I'm currently Still actually look too short this level

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

I'm looking for a short setup so far I Did not got entered yet and if we move Back up towards 23.8k that is actually The point where I want to be opening up A new shorting position to short Bitcoin All the way down to 22.5 K yet again so That is what I'm currently waiting for We can currently see that we are Actually creating a falling watch if we Do break towards the downside I'm of Course honestly expecting it's going to Be more likely to see a faster Continuation happening towards the Downside and also vice versa a falling Wedge breaks towards the upside seven Out of the 10 times so if it is going to Be happening right now again it would Not surprise me at all the price target Of this falling wedge is going to be on The top side of the wedge water Somewhere around 25 000 US dollars so That's something about seven percent Move here and actually if I do look at The structure I mean if I'm looking at The four early structure for Bitcoin Point it is sulfur still trading in an Uptrend right you can clearly see we're Creating these higher lows and we're Creating these higher highs right so we Are still trading in an uptrend and the Importance is is to see in continuation Of this trend so if we do break below The previous low on the market that is Somewhere around 21.5 K we of course are

Going to confirm to see a bigger time Frame shift in the market and you can Clearly see it right here as well if we Break below this low right here we're Basically turning around the trend and That could result in of course a bigger Trend refers for Bitcoin and that could Even give us a bigger opportunity to Short Bitcoin So reading Market Structure in this market right now is Key important because as soon as we do Break the trend we should flip our bias But of course if we do break bullish off This trend right here and we do see a Breakup back above that 23.8 K level so That is also with our trade if we break Above it and basically hit our stop loss We confirm and break back above it and That would result of course a more Bullish momentum so that is why I'm Taking this short rate with a very tight Might stop loss because if we do break Above This range we could even see a Further continuation towards the upside And maybe this is just another higher Low in the trend in general so I'm still Approaching the strength very neutral And I will just decide my trades and my Buyers on the market in General on how The market is going to develop its Market structure currently I'm still in This long position position on bitcoin I Have been taking some profits of the Table but still I'm making like 35 000

US dollars in profit from this trade and I am planning to take more profits of This trade as the price action goes Higher for Bitcoin so once I'm going to Close more of my trade I will let you Know my telegram my YouTube and of Course on my Twitter page here but Currently I'm looking to scale out of This trade because if I'm actually Looking at the higher time frames you Can clearly see Bitcoin is creating a Very dangerous structure we are Currently seeing that we are creating That rounding top on bitcoin what is of Course not the most bullish scenario Because we have seen it several times Before and every single time it resulted In a movement towards the downside so That is why I'm still skeptical the Bitcoin chart on the higher time frames Is just in fact not looking so strong so That is why I'm very cautious right now With opening up big long positions on Bitcoin you can clearly see it we're Losing momentum not only on the two-day Time frame but also on the one day time Frame we can see that we're creating a Bearish Divergence and not only on the RSI but also on the money flow index and The macd so it's it is very important to Pay attention towards these signals Right now also we can see on the 3D time Frame that we're actually retesting of Course the most important level of

Resistance what we already knew and Really if we break above 25 000 with a Significant follow-through candle that Is the point where I really will flip Bullish because like you do know if I'm Going to look at the vpvr the volume Pro For range what you can see that between The 25 000 and the 28 000 is almost no Volume resistance what means that we Could very easily break through this Level very quickly as soon as we do Confirm the break above 25 000 so a Breakup of 25k will be extremely bullish For Bitcoin but of course a rejection Could even send Bitcoin lower so it's Important to look what the next move is Going to be and that's why it's Important to analyze the market Structure right now and really if we Will ever retest this legendary support Line ever again you will be the first One to know here on this channel because Yeah this level right here I've been Logging it and so far I've made more Than forty thousand dollars from yeah Basically longing this level and if we Will ever have this opportunity again I Will be notifying everyone out there on The channel so make sure to slap up the Subscriber button unfortunately this was It already for today's update video There is not a lot of interesting things Going on right now here because it's Weekend but yeah as soon as something

Happens in the market you will be the First one to know here on the channel But thank you so much for watching and I'll see you guys on the next one peace Out goodbye

You May Also Like