Bitcoin broke down exactly towards my Support Target and on today's video I Will talk about my next bitcoin price Targets I will talk about this breakdown That currently is happening and where I Think Bitcoin is heading towards next I Will discuss the reasons on how I Predicted this move towards the downside And many more important charts including The Bitcoin liquidation heat map the Most important outflows and inflows on The Bitcoin sport ETF and many more so Without any further Ado don't forget to Slap up that like button back up of 500 Likes that will be absolutely incredible And with that of being said let me jump Straight away in towards the content and Once looking at Bitcoin on that imminent Short term we exactly saw another Breakdown like I've been predicting for Quite a while right now because ever Since Bitcoin hit $48,000 I started to be turning bearish And ever since we have been exactly Right about this price action on bitcoin And on yesterday's video I clearly Stated once Bitcoin is going to be Breaking below this very important 41.8k Level I actually think the downtrend Will be continuing even further and my Price Target is 39.7k and to the price Target I will Come back a little bit later in today's Video but do expect that in the future

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This level that previously around acted As massive support for Bitcoin will most Likely right now turn in towards Massive Resistance so looking here at the 4ly Time frame once again I mean I don't Want to be Shilling it but I've been Pointing out these levels for moments For for probably weeks or potentially Even already months here I have been Pointing out these levels and once again This previous level of big support Exactly flipped into support on bitcoin Right here my first support Target 40.6k exactly rejected towards this move Towards the downside and to be very Clear I think that we will be probably See another consolidation phase and Ultimately Bitcoin is going to be going Down to 39.7 K and that is the point Where I want to be entering my positions That is the point where I think all this Unemp liquidity will be getting removed Out of the market because like you can See there's currently still a lot of Unta liquidity in this region where We're currently trading in and once we Really breaking towards that $40,000 Level that is the point where we are Going to be seeing all the unap Liquidity getting flushed out in this Market and that is where I'm currently Waiting for so yesterday as well we were Looking at this Rising wedge pattern and I stated in my video that Bitcoin is

Strapping you and that we're most likely Going up seeing a breakdown of this Rising wedge pattern within the coming 48 hours and like you can see it exactly Happened again and many Traders got Fooled by this level again and once Again guys we pointed out that this is Going to be the main support and this is Going to be the main resistance already Days before this happened so make sure To subscribe to the channel and of Course guys I think and I think this Once again will be a very strong Reaction that 39 7K is going to be the Level where Bitcoin is ultimately going To be finding its bottom at so that is The level where I will be opening up big Trades on bitcoin and like you can Currently see here on my screen I will Be buying more than six Bitcoin worth of Positions if Bitcoin is going to come Down to 39.7 G on bitcoin but I will Also open up a big position on ethereum But do that I will come back a little Bit later in this video so make sure to Stick around so looking at the Liquidation heat map we can currently See that once again we flushed out the Liquidity on the lower side and right Now there is liquidity piling up above Us here sitting around $45,000 and to be clear an approximately $800 million Us doar in Bitcoin Liquidity is piling up above us in short

Liquidations So eventually I expect that This is going to get flushed out and It's going to be just a matter of time But you have to understand that the Reason why this dump is most likely Happening right now is due to the fact That we're seeing massive amounts of Outflows of the gray skill spot ETF I Mean yesterday we saw more than 582 million Us in outflow on the Grayscale Bitcoin spot ETF and yes that Is of course quite massive and basically We can see that this is a trend because So far we've seen more than 30,000 Bitcoins flowing out of the gryc fund in The first four days and yesterday we saw Another $580 million Us doll outflow so There's a lot of money flowing out of Crypto from people that were speculating On that Grays scope spot ETF and that Were buying up Bitcoin using their Grayscale Bitcoin discount so this is Actually quite a massive thing here and Due to that there's becoming more Supply Available on the market I think Eventually this Supply is going to get Absorbed currently we're also breaking Below this very important support line But that is why we could be expecting That Bitcoin can go a little bit lower Right and what are the ultimate targets I mean I said 39.7k but it is not my Only support Target on the lower side Because clearly if Bitcoin is seeing

Such a huge amount of outflows and we're Breaking below that level I think that First of all we could see a short-term Bounce towards the upside from 39.7k but Ultimately potentially we could be going Lower and at that point we're going to Be looking at that 36.7k as support this green box that I'm Currently going to be drawing for you And of course below that we've got a big Level sitting around $30,000 so yes There is a big amount of support on Bitcoin and if you're going to be Looking at UC see what happens we tend To see a 20 to 30% correction from the Top side if we're going to be measuring A 20% correction it's going to be Bringing us down somewhere around $39,000 what is also my price Target Like I said several times before so Currently looking at Bitcoin we broke The orer soing support line like I said I've got my order set up and I am a Patient Trader so I let the trade come To me I am not going to be chasing the Trade so make sure that you are patient As well if you want to be trading Bitcoin and of course if you want to be Trading you can trade on bit where you Can currently claim a $40,000 deposit Bonus and if you sign up an account Using the link below you could claim it And without this link it's only 400 so It's a win-win situation and on top of

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Be breaking about $48,000 that is the point where I will Be saying this is the start of the next Bull Run but as long as we're not Breaking Above This level I would still Say that we're in a reaccumulation phase And of course like you can see on this Chart once we break $48,000 we basically Br the most important resistance and the Next stop is going to be the next timite For Bitcoin and to quickly talk about The new meta a new trend in the market Currently I think it's going to be the Ethereum spot ETF because in an Approximately four months from now on we Will be seeing this thing getting Accepted and yesterday we actually saw That the SSC delayed the fality spot Ethereum ETF but don't worry the final Deadline just like it was for Bitcoin on January the 10th on May the 25th of 2024 So it's an approximately 4 4 months from Now and before the ethereum ETF is going To get accepted and I think that this is Going to be the next big meta and I Stated this chart already a while ago Here on the channel as well but I think That ethereum is going to come down to 20 2,385 before going higher I said Bitcoin Is going to come down to 39.7k before Going higher but I think that ethereum Could potentially give bigger returns Compared to bitcoin since I think

There's going to be more hype shifting Towards ethereum and even more Importantly ethereum's got a lower Market cap so this is it for me in Today's update video it was a little bit Of a longer video I truly hope you did Enjoy it I shared a lot of information That I think is very valuable so make Sure to share this video with your Friends and family with that being said Guys thank you so much for watching and I'll see you guys on the next one peace Out goodbye

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