So if you are here to find out what is happening right now with price action, bitcoin and also what kind of scenario could be playing out next – and this is the exact place – because today in this video, i am going to give you one price target. That is being confirmed by different scenario and also in different time frame. So this is an extremely important video to all individuals who are holding bitcoin right now. So please guys watch it till the end, because if you look at this price structure in a weekly timeframe, we have been very, very clear using this logarithmic curve and also the logarithmic scale. We have seen the price of bitcoin in 2013, 2017 2021 january month and again here in 2021 october month, guys we are seeing a very, very similar scenario unfolding i mean whenever the price of bitcoin has managed to find a proper support above this yellow line, which Is the middle of the channel also the 50 bitcoin logo in growth cup? We have always tested the next fibonacci line of 61.80 right here as well. You can see as soon as we found a proper support over this yellow line. We always this is the next fibonacci line before choosing a trend direction in an uptrend. This scenario has unfolded again and again, if you dont believe me, you can see here guys in an uptrend like this, the price here whenever we found a proper support above this middle of the channel, we always headed towards the next fibonacci line, the 61.

80 before choosing And train direction in this case we headed towards the top of the channel. And again, if you look at this one here from 2021 january month, you can see we were not able to find a proper support of this yellow line thats, why we saw this price retracement, but at second attempt you can see we managed to find support above This yellow line after that, you can see we headed towards the next fibonacci line before choosing the trend direction. So, whenever the trend of bitcoin has started this new impulsive movement and found a proper support of this yellow line, we have always tested the next fibonacci line of 61.80 and in our case guys in our case, this red line is lying around 70 000 price area And since the price of bitcoin has also found a proper support of this yellow line, the middle of the channel, the probability of price continue at least towards this 61.80 – that is lying on 70 000 is very, very high. Now let me confirm you this with other different scenario so guys now we are coming back to the scenario that we talked on my previous video, because we were aware the price of bitcoin right now, since we are forming this very nice symmetrical triangle. If we are going to flip this resistance, the upper line area of the symmetrical triangle and turn it into support, we have said we could be approaching around this 70 000 price into 72 000 price area.

So, according to the symmetrical triangle just like here from the pass bit compress action, you can see once the upper line resistance got broken. We started this new move here to the upper direction, so that exact scenario could be also playing out if the price of bitcoin manages to break this resistance and flip it into support. That is around sixty two thousand nine hundred to sixty three thousand price areas, and just like here with the bitcoin login growth crop the 61.80 that is lying on 70 000. Now you can see also, according to this symmetrical triangle, the 70 000 price range could be on the line for bitcoin and now again. Another scenario which is also pointing out the 70 000 price range, could make a lot of sense at this current stage for bitcoin and also guys. I would really really appreciate if you could just take two seconds of time and come on hit, that like button and for those individuals watching this for the first time hit that subscribe button and the bell, those who have been following me for a while. You know we have talked about this one two three reversal pattern that is playing out right now for bit compress action, because, according to this one, two three we have actually reached the first target. That was around sixty two thousand sixty three thousand, but we said our second target, which is lying around 70 000 to 72. 000 is still open.

Just like here right, you can see semitical triangle breakout, exact price target, just like with this one, two, three and also the weekly i mean the bitcoin login growth curve is showing us the 70 000 price range, so thats why we are expecting the price of bitcoin To also continue this rally, at least towards the 70 000 range before choosing and train direction, and let me also show you not just only the price action, but also this one leading indicator is pointing out. The price of bitcoin could be actually approaching around the 70 000 range and also guys. Let me make you where we have around 4 700 bonus available for our community members from buy bit and femix. If you like to trade, bitcoin, then feel free to use this by bit, raffling, which is giving around 3 500 bonus to our community member. And if you like to trade all coin, then you can use this famous raffling, which is giving around 1 200 bonus. So this is a great opportunity, try grabbing it so now lets switch into other chart so guys. Now we are going to look at this price action of bitcoin using this cpr indicator, because, according to this leading indicator, the upward price target for this november month has already been plotted and also according to the cpi indicator, you can see the monthly r1 line target Which has already been placed that is also lying around 71 000 price area.

So now we are aware between the 70 000 to 72 000, there is a very, very high chance, the price to at least touch this price area before choosing a train direction, because we are aware this price movement. If you look at this carefully, this is still a vcpr right, its not exactly at this train line, but we can see the price was not able to touch the line it doesnt mean it has to be valid. I mean the price has to come before, hitting it to the upper direction. It could happen, but right now, looking at the possibilities right, there could be first, a movement here to the upper direction around the 70 000 before price chooses actual trend direction. So this is also one scenario we have to take into consideration. Looking at this price auction right now, guys and now and now. Let me also show you this one scenario which is known as bump and run reversal pattern that is indicating, since the price of bitcoin has already broken out of this resistance line right and also got thrown back just like, as shown here in example. Now we could be actually forming this uphill run and if you also look at this uphill run, you can clearly see we do have plenty of shakeout on our way, but price still continues here to the upper direction. And now, if we look in our case guys, you can see this bump and run reversal scenario is playing out perfectly guys, because once we were able to break out of this radius line right, we also got thrown back here just like, as shown in an example And after we found support at this falling trend line, we started this new move here to the upper direction and this new move.

Is this uphill run and thats? Why guys? According to this bump and run reversal, also, there is a very, very high chance. The price of bitcoin is going to continue this rally here to the upward direction and in case of any sort of a bigger pullback. Here right, we are aware between this price range of 58 to 60 000. We have extremely strong support lying around for bitcoin, because this line here, which previously acted at the strong line of resistance around that price range right you can see it could be acting as a strong line of support just like here.