As you can see on this chart, we are in a massive uptrend, so the trend is your friend, as you know, now were going to take a look at ethereum, also because ethereum is looking very bullish, but we could see some volatility to the downside before we Continue breaking all time highs in the coming weeks and also polka dot, getting ready for an explosive breakout, which is very, very likely going to be to the upside and ill show you why, in this episode, Music, hello, there andy here welcome back to another episode of Bitcoin, sensors new to the channel make sure to subscribe daily ta on bitcoin crypto and also do live stream to connect with the community. Not financial advisor dont buy or sell anything that i say now guys zooming in here. I want to keep this episode really simple. All right, because you know the bitcoin price is looking extremely bullish. While we are going inside of this, you know the end of this kind of descending wedge. As you can see here, we are creating slightly lower lows all right now. I want to show you some similarities that they are here from back in september when we did create this descended wage and finally broke out here, and we saw october okay, where october was having a massive run up here, reaching all the way here. 69. 000. Okay. By the beginning of november, now, just want to show you here the slightly lower lows that we are creating okay, so this is already going to be a base.

This is already going to be a very strong support. We are, we have connected here. Also, the lower highs that weve created from the 69k levels, and if you connect these trend lines, you know we are already forming this kind of descending wedge, which is an extremely bullish pattern, especially when youre coming from a very, very strong uptrend. So this is something that we are going to pay attention here in the next coming days, because i think that weve only got days left to see a potential explosive breakout and i think its going to be to the upside. But we could come back down and re test the support level, which would be around about 55 or even 54, 000 or probably just go sideways around about that 55. 56. 000 range and im going to explain why? Because, just by looking at the kind of price action that happens when you have a sell off – and in this case back in september, we were slightly creating these higher highs. As you can see so very similar price action that we were creating right over here. We did have a little bit of more um more space here in between this high and this high okay. You can see this kind of round formation right over there before we actually had that sell off. Now this sell off was much higher. This was uh around about a 20 drop okay here on btc. If we go from the highs to the lows, it was yeah, almost a 20 drop.

Now, if we see this drop over here, it wasnt even 10, but it was to a pretty high drop right. We went from 69k all the way to 63k approximately, and that was already about an 8 drop now after that 8 drop. What we did here, zooming in on the chart, is a little consolidation. A little run up hitting that golden pocket from this drop to have the second drop, which was slightly larger than the first drop right. So very similar price action, not the same, not the same movements but similar when you reach the high. You have one drop. You go sideways. You have that retracement that relief rally to the golden pocket range 50 62 levels. Then you have the second drop okay, going much lower than the first drop, so very similar scenario that happened right over here now. What happened back in september is that we actually consolidated. You know we had a relief rally, came back down almost retested the lows again consolidated here. Creating a kind of you know descending triangle, symmetrical triangle before we actually broke to the upside, and this is when we had this excellent run up for btc. I think that now we are printing, something very very similar and if you take a look at the rsi here, we are at the oversold territory. As you can see – and you know we might be having you know – that kind of relief rally very very soon now on btc as you can see, and i think that we could potentially go sideways slightly to the downside here on the price action.

Something very very similar that what happened right over there, as you can see, the rsi is picking up here going to the 40 50 levels and, as you can see, the price action was just going sideways. So something very, very similar here before we start seeing btc having an excellent run up in the next coming days. So this is the kind of thing that im expecting for btc just by looking at the price action and the rsi and this descending wedge. So if i zoom in here on btc, we can clearly see that we are retesting this major support level. So the worst case scenario in my opinion, would be coming down and hitting that 55 or even 54 000 in the next coming days, getting massively supported sideways action here. So if this happens, this is the moment that we want to becoming extremely extremely bullish for btc, because if we do break the support here on the next attempt its not going to be looking good guys, we want to become extremely bullish as soon as we are Forming sideways action: okay in the next coming days, if we start printing here these lows or slightly higher lows, this is the moment you want to anticipate that this is very likely going to break resistance and you want to step in in a potential long, trade. Okay, now this is what i got for. Btc. Okay, stay cautious. We want to see that sideways action because you dont want to drop here getting along and then the price action is going to make much lower levels.

Breaking the major support range. What you want to see is consolidation, sideways action here for the next coming days, so make sure to subscribe to the channel, well be paying close attention for this potential scenario. Remember for the traders out there femix has got an insane bonus going on at the moment. Four thousand one hundred dollars worth of bonus to be claimed on phoenix depending on what you deposit, primex beauty, is my favorite day trading platform. You get 50 added to your deposit, with my link and bitcoin census 50. As the promotion code lets take a look at ethereum because ethereum is looking pretty pretty bullish, in my opinion, were just having that nice consolidation. Sorry from that, retracement were having that relief rally and there is a possibility that this is going to be a kind of an abc correction, but were not going to go much lower than the 4 3 800 range, because there is an insane amount of support at Those levels now, if this happens, this is going to be a great buying opportunity. In my opinion, the reason why is because four thousand dollars we had a huge resistance peak right over there, also right over here, turning into heavy heavy support. We have bounced three times here as support already, so there is a possibility where youre going to see a dead cat bounce here, come back down re test this range and not successfully breaking the lows potentially creating a descending wedge here.

Also all right. This is something that were going to pay attention in the next coming days. Now, what would be the most bullish case scenario would be already you know breaking here, the 50 levels, or even the golden pocket range and going to their all time highs here for ethereum. In the next day or two, this is very unlikely. In my opinion, we do have very, very strong, a strong volume to the downside, so stay cautious. I know we are just about breaking the resistance, but i see this possibly being a fake car. All right, theres, not too much volume. It is the weekend check out how the volume is going, lower and lower on this retracement guys. We know the deal. We need to pay attention on the volume if we do see the break of an uptrend okay with volume. You know the deal guys. We are changing the trend here in the media short term, so stay very, very cautious. Here, whoever is long in ethereum. We could see slightly volatility to the downside, because the volume is telling us that the bears have slightly control here after breaking this massive uptrend, so stay very, very cautious here for long positions. We want to stay defensive all right now. There is a possibility that you could get start going into long positions while were scaling down. I wouldnt just yet, because the price action is looking. It looks like that. We are going to see slightly lower levels here for the next coming days before we actually shoot to the upside, because i do believe so that this is going to be a kind of an abc correction.

The c correction, failing here to dip to much lower levels and then finally breaking to much higher levels here in the next. You know three four days approximately in my opinion now also, what are the resistance? Weve got the resistance here from the lower highs, as you can see here from this trend line of the lower highs. This is where we are crossing with the higher lows, as you can see here on the chart. If we do hit those levels, we are going to get insane support from the higher lows and also from the lower high resistance. This is where we exactly crossing out the 29th of november, so that is just a few days away, as you can see here on the chart. So there is a possibility that you might be getting a great buying opportunity if we do hit those levels. As you can see here on the chart now there is a possibility that four thousand dollars is going to be the ultimate low. We are going to come back down, maybe retest it or maybe were not even going to come down and retest it. But if we do start re testing the 4 three thousand eight hundred dollar range. This is the moment guys in that retracement when theres blood in the streets. You want to anticipate that you are going to break here potentially to the upside in the next coming days. Okay, guys, this is what i got for.

Ethereum lets take a look at polkadot, because polkadot is looking very, very nice. As you can see on this chart, we didnt manage to successfully break here from the highs we broke up then came back down but cause um. Polkadot went uh, pretty parabolic. Okay in the month in october, as you can see, and then had an excellent run up here, hitting the highs now were just having that nice correction at the 50, even 62 percent levels here of the fibonacci retracement from the ultimate low to the high. You can clearly see that we are just about hitting here that 4 38 range, which would be the golden pocket, as you can see right over there. So we might see a little bit of volatility just at that 38 40 range for the next day or two, and then i think that we are going to have an excellent run up to the upside okay, so stay cautious with volatility we can even dip to 37, 36. Okay, so be careful here, but this should be a very, very strong, fake out area got a lot a lot of resistance here. Turning into support, as you can see, we got the higher lows. Major support range here also from this trend line, and it is a major major level looking at the past price action, a lot of consolidation and support level here around this area. This is the 38 40 range. So if we do see slightly volatility to the downside, it is going to be a great buying opportunity here before we actually start pumping here for polkadot in the next coming weeks, guys.

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