BITCOIN IMMINENT BREAKOUT!! SYMMETRICAL TRIANGLE BREAKOUT!!
Where were right now seeing a continuation pattern of a symmetrical triangle getting formed only a minute short term and on todays video. We are going to discuss this significant breakout and i will be revealing all the price targets where we should be looking at if were going to see either a breakout towards the upside or towards the downside as well. I will be going over the bitcoin chart on what we are seeing right now here, because we have been seeing this critical level of resistance getting broken, but right now we are once again trading below this level and were getting rejected by it. So a lot of important things that we have to be discussing in todays video. So if you want to be finding out about the next major move, bitcoin is about to get creating here, make sure to first of all smash up that like button and if you havent already make sure to subscribe to the channel. So youre not going to miss out on any of these further update videos out there so guys with that out of the way, let me start off right away with discussing the bitcoin price section. So bigquery looks to be creating on the one analytic handles and very, very interesting, symmetrical triangles, so you can see here um top side, providing the resistance with several touch. Points like you can see over here and the lower side is providing the support right now with as well as several touch points, so we are seeing a clear, clear support line and a resistance line meeting each other.
What right now looks to be forming? Of course, a symmetrical triangle – and this could be seeing a breakout here in the coming lets – say three to four hours here. So usually you tend to break up before reaching the apex. So personally, i will be anticipating a breakout here in the coming two hours once this video is live here, of course, so make sure that youre going to pay attention towards this significant pattern right now here so um, the price targets are very easy to tell to You guys, if were going to see a breakout towards the upside, were going to move up most likely going to um towards the 52 000 us dollars. It will be truly truly lovely if were going to see that target getting reached here um, but if were going to break down of this symmetrical triangle, guys we are going to see. Of course, targets are 90 48.3k getting visited once again here. What is, of course, below the weekly support and this weekly support is going to be very important, because i want to be seeing bitcoin closing above this level for the weekly timeframe, because the weekly timeframe is going to be extremely important for bitcoin and if were going To be able to break above this level where we were not able to break through already for two times in a week here, and we are most likely going to continue the trend up here. But if were going to fail to hold on towards this level over here the 49.
2 k here before the end of the week, we are most likely going to see lower prices getting getting visited after that. So make sure that youre going to pay your attention towards it right now here its going to be extremely important, where we will be trading at, of course, so right now um, i will be as well discussing the probability where we are going to most likely head Towards if im going to enable uh the momentum indicators right now, it looks to be first of all that bitcoin um was looking on the one, only candles and not very strong here, because on the one all the kindles, we were forming a clear higher high in The price action realm – the rsi – was still dropping off here and yesterday. I have been announcing this to you guys all out there, and everyone was once again calling me crazy, but we saw a clear bearish virtues playing out on the one hourly candles and four hourly candles for bitcoin. So i was saying to everyone: okay, it is extremely likely to expect a pullback from here on so yeah. We clearly saw a pullback from that point here and as well. If you were looking at different momentum indicators like the macd as well, you were clearly seeing that we were having a huge momentum loss there and what usually is signifying a trend reversal signal. So right now we have got a trend reversal signal on the running on the candles and we started to move down from there on here and right now.
We formed this continuation pattern and i will be very curious where, where we are going to break towards, but personally i will be still anticipating a breakdown here, since we have been getting these strength reversal signals over here. Only different momentum indicator so um. It will be more likely to expect a pull a back towards the downside from here on, as well, if im going to remove the drawings for a second guys um, you can see something very interesting over here. We have been already discussing this level several times here, and this is a major level of resistance, like you can see over here on the four hour and on the one and only candles, of course, and if youre going to look back at this level, you can See right now, um bitcoin got several times rejected by this level over here, while we were increasing, we got rejected once again here and while trading above it, we were getting supported by this level. So right now um we as well broke below it once again and were rejected once again by this level. So this is, of course, quite shocking for me to see and its very unfortunate that we are not able to break through this level right now here, since these are. This is one of the most important levels for bitcoin to trade above to on the imminent short term right now here so yeah definitely very interesting. What were right now, seeing here and uh, we should be hardly paying attention to ourselves since yeah we already trading below it.
We are starting a downtrend. I should be getting a little bit worried, but for me to call a direction where the market is heading towards. I will be mainly looking at the symmetrical triangle and guys this could be for sure as well a very good training opportunity of an approximately 3.3 here, and if you want to be opening a trade here, you could be right now go to the link in the Description here sign up with buy bit and you could be, of course, trading with leverage and you could be lets say using a 10x or 20x and you could literally make a 60 gain here from a move either towards the upside or towards the downside. And i can tell you already: this is going to be a very significant move and you should be taking this move very seriously because um the position right now in here we cool off and we are going to see a little bit more volatility. So the volatility will be most likely increase towards the upside if were going to break out towards the upside volatility will be increasing towards the downside, if were going to break down here, so definitely make sure to sign up already as well. If youre going to sign up with, buy it right now, you will be getting them. 3. 000 use dollars deposit bonus here and, if youre going to sign up your account right with my link in description, you deposit some funds there and after that you withdraw your funds.
You have an easy: a free, 3 000 use dollars, deposit bonus, um, and you could be trading with that for sure. So you have a free treat asset use dollars to trade with so make sure to sign up right now, with my link in description. So youre not going to miss out on this uh very important and a very nice deal that we currently got for you guys. So definitely a trading opportunity right now laying around to corner here, and i definitely cant wait to see how its going to end here and as well for all the people wondering here um. If you want to be staying up to date, about where we are going to go towards for bitcoin, make sure to follow me here on twitter at rover coc, if youre going to hit that follow button over there, youre, definitely not going to miss out on where Were going to break towards the towers guys, because i will be announcing um the direction where were going to break through over here. So let me as well discuss the foreign kennels for a second here, since the four hourly candles is not looking extremely strong right now. In my opinion, so it looks to be um that we were creating a clear rising wedge here. You can see the support line over here on the four hourly candles had approximately three to four touch points like you can see over here, and this was a pretty important support line and we are right now failing to hold on towards the support line.
What is getting me a little bit more worried, of course, so make sure that youre going to pay your attention towards it, but um to determine where bitcoin is going to head towards on the year in the short term. I should highly um highly suggest looking at this symmetrical triangle. If were going to break up here, um we are most likely going to create a wick on the lower side. Then maybe we could even redraw this uh, this rising wedge channel a little bit more like this, and then we could be seeing, of course, still. The touch points coming in here so make sure that youre going to pay your full attention towards this channel over here. We already got a very supportive balance from of this level, because this is, of course, extreme strong support. Um right now, still im going to raise the awareness on the bitcoin daily chart here, guys um, even though i want to be of course bullish. I still cant be extremely bullish right now on the daily candles and we are still seeing higher highs getting formed here and since yesterday we closed the highest daily candle um. Since approximately. Let me see this is the highest daily candle close in approximately uh 115 days. Here so this is pretty nice, its a pretty nice segment of clothes here on the daily um. Definitely very bullish, of course, but i right now as well want to be raising the awareness that were still forming a lower high here on the rsi, resulting in embarrassed.
Divergence as well were seeing it on the macd were seeing and only money flow index. All the different momentum indicators are right now giving me a signal for bearish divergence. So uh, please be careful. We are seeing a lot of momentum loss while the price are still increasing um. For me, i will be taking extreme caution right now. Here um, you could be, of course, do for sure what you think uh, what what you think is the best right now for you um personally, i am taking some profits out right now here because im getting scared. If im going to look at the daily candles because im seeing a huge amount of momentum loss getting created over here so guys, this was already it for todays of this video here make sure that youre going to smash the likes here and make sure that youre Going to share this video with your friends, if you want to be alerting your friends as well about this significant move that we are about to trade here and as well about this trading opportunity. That is right now laying around to gordon so guys.