BITCOIN IS LOOKING EXTREMELY DANGEROUS!!! BEAR FLAG BREAK DOWN!!!!!
I once again have a particular big warning for you guys out there. So if this sounds interesting for you, dont forget to right away, smash up that like button subscribe to the channel and ring the bell notification, so youre not going to miss out on any of these further updates that we are going to bring out to you guys Here on the channel so with that of being said, guys lets jump right away in towards the content, because, if were going to be looking at our bear flex scenario, it looks to be the bitcoin, of course, as we create this very significant leg down consolidation phase. In this bear flag, and right now we have been seeing a very significant breakdown of this bear flag, so this is, of course, extremely important to keep your eyes on right now here and since this breakdown i do want to be raising the awareness of you guys Out there that we could be maybe see, of course, a very significant rejection from this point, and this could be as well lead for a further continuation towards lower targets. Of course, if were going to be aiming for the price target of this move here, yeah, since the top side of the uh of the bear flag, were going to be measuring for a price target to run the 61k here now right now, since the successful retest, I should be starting to get of course, averages slightly a little bit more cautious as well.
You could be approaching this scenario as well in a different way, and that is of course going to be approaching it like a symmetrical triangle. If youre going to be approaching it like a symmetrical triangle, you can clearly see the price target is a little bit less significant than if youre going to be aiming for a price target breakdown from up here on yeah theres. Only a 1.4 measured move down here and that one already was um almost getting reached here so yeah. I should definitely keep your eyes wide open on the charts right now here, but what i should say to you guys out there is that uh keep your yeah. Of course, if were going to be seeing a re entry of this of this chart. So if we are going to see bitcoin increasing once again higher and lets say, bitcoin is going to last a one hour candle above this upper sloping support line. What of course, right now is providing us resistance, because previous support tends to flip into resistance if youre going to be breaking below it now right now were trading and trading below it, of course, so if were going to be them, see a re entry of this Level we see a support of touch once again on this level and were going to see vertical one increases. I do expect to see the market increasing towards higher highs once again here, but right now we are getting this various retest on the market, and that is of course, looking ever so slightly a little bit, um yeah, more cautious.
Of course, if were going to look at the momentum, indicators were not seeing any bullish or bearish. The verge is getting formed yet here, but what i can tell you already as soon as the market is going to be moving down toward levels around 64k. I do personally expect that the market is going to form several bullish divergence here on the market, either on the rsi and, of course, on the macd here so thats, of course, a thing to look forward towards right now here so yeah. I do think if were going to be moving down that were going to be bouncing back very, very quickly in a very rapid pace here, but right now we are getting the perfect recipe of an yeah re test of the previous support market. What is, of course, getting me worth ever so slightly im, currently still in long position, i will be starting to scale out ever so slightly because yeah, i am a little bit fearful right now in the market, and i do think that there is definitely a very Big chance that we could be going down for a further continuation further on here, so as well. What i want to be saying to you guys out there as long as this four hour, support line is going to be holding us up. I do expect bitcoin is going to be looking quite healthy and bitcoin is going to be still be in for further continuation towards higher targets, but right now still i want to be raising the awareness about what we could be writing an experience in the market here.
So yeah pretty exciting what were currently are having here and pretty important, to keep your eyesight wide open on right now here so yeah. This green box is going to be very essential and, as soon as were going to close a four hour, candle below its a four hour close below the 63.4k is going to be, in my opinion, and extremely bearish close for the four hour candles here as well. Once again, saying were not seeing anything especially playing out on the momentum indicators, if were going to look at the four hour candles, but yeah thats still maybe his yet to come here as well, were going to look at the daily time frame. We did clearly broke out of the symmetrical triangle. Then were going to look at the momentum yeah, we clearly did create the pairs of virtues on the rsi. We clearly did create the pairs of virgins on the macd, and we are right now as well confirmed the various virtues on the instagram as well here so yeah, particularly bearish right now how it is looking to be very honest on the macd right now on the Rsi, so this could be as well a very good recipe for a big market reversal on the higher time frames, but yeah lets see and wait how its going to be playing out here. I will be right now not call for a major market reversal, but we are getting right now to a point that we should start to get a little bit more, a little bit more cautious, because yeah things are coming together right now here the daily is looking Extremely bearish, to be honest, um, the four hourly candles is looking still quite healthy as long as its going to hold on towards this level and the one hour candles is, could be rhino import for the continuation down after retesting successfully this bare flag right now, so Yeah big warning shot to you guys out there.
I will be definitely not say open a short position right now here i will be definitely as well not say, open a long position right now, so please, these are the times that you just want to be. Basically, staying on the sidelines, wait a little bit here see what the market is going to be developing like as soon as we are seeing a clear direction of the market were going to take further steps and notice, and of course, if you do want to be Preparing your account already for trades dont forget to sign up here with buy within the links description or, of course, if you do, prepar prefer femax make sure to check famix out as well here, but by bit is currently offering you 3500 and users hundred news dollars. Deposit bonus, what is going to be extremely valuable, so yeah. This was not right for todays, very quick, update video.