BITCOIN: you won’t believe this..
I really want to talk about it and, if maybe some guys will disagree with me, thats fine hear me out guys watch this video until the very end and very important on red days on green days. Your support is really appreciated, especially on red days. It means a lot to me, so please go down smash up the like button to a new all time high. I think yesterdays video got again 10 000 likes or so i have to check, but we are really breaking all records, and this is awesome, especially on red days and good ones, and the bad ones now lets talk about the bitcoin price. Let me go straight into it. I can tell you something: the chance im gon na show you not the first one, actually, not the first two charts, the one im gon na show you here towards the end of the video, is probably gon na blow your mind, at least to say its gon Na surprise, you very very well now lets look at this here, so what you can see on the hourly canvas actually yesterday, i was talking about this potential breakout and well, as you can see, this breakout did not solidify, and even though i was talking about that And honestly, i was getting a little bit excited about it to be honest, um you can see, we turned around and wrote. We are at the mn crypto family, always looking out for breakout.
Confirmation is number one volume number two uh close, often of of the candle of the specific time frame outside above the previous uh resistance, and this is the most important thing. After a breakout, we need a bounce of the previous resistance, which is then turning into support. This bounce failed, so this was qualifying this as a fake out, so we broke lower right now, as bitcoin is already at 54 000 us dollars. In fact, over on twitter, i was updating you in the moment of the breakdown, imminent danger, bitcoin breakdown, and now we are breaking lower. The question is, is this now, as we are just creating a new low red alert for bitcoin? Is there maybe one chart which is showing us that things might be not as bad as we might think, and this is one chart? I really want to pay very, very close attention to guys when im done with you im, pretty sure you guys will say wow. I didnt see that before so stick it with me. First of all, also, i wanted to mention on the daily canvas we are holding. The previous upward sloping support. So, of course, if we are breaking this one here, if we are closing a daily candle, basically below the 54 thousand five five hundred us dollar level, this is of course, a moment actually lets say below the fifty four thousand u.s dollar levels. This would be a moment where i say hey, maybe i have to step back.
Maybe i have to reconsider here my bias and maybe this one scenario which i mentioned to be the less likely one where i dont think its gon na happen. Just i mentioned it to be sure that im mentioning everything is single scenario. This wyckof distribution pattern, which i was talking earlier with a much lower price target, would come into place now. I dont think so why – and this is something i want to elaborate on. This is one shot here i prepared for you guys, one chart which gives us actually – and this is the controversial thing right now with this dump – a bullish, a bullish outlook, its almost hard to say, because everyone right now on twitter everywhere, i can see it worst Performing tweet ever because it has a bearish implication, everyone is bearish right now. This is the moment i want to tell you guys now we have to pay close attention. Right now might be the turning point and now look at this guys. Look at this. What i am talking about is this specific charge here with three falling wedges after another. This is the daily candle. So what we are seeing here is the last few months for bitcoin. We had a falling wedge right here. Yes, this is a fake out the falling wedge right here, eventually breaking out towards the upside. A falling wedge right here. Remember: falling wedges are bullish patterns breaking towards the upside and right now we are having a falling wedge again with the previous rejection.
We furthermore, then validated the resistance, but also with this bounce right now we further more validated this support, and usually after bouncing a few times and coming closer to the apex in falling wedges, we are breaking much more often towards the upside, then towards the downside. This is what you can see right here. So as long as this support is not breaking on the daily, you can draw it yourself. I remain bullish very important as long as we are with a daily candle not breaking below this. I remain bullish for bitcoin. If this changes, i am going to upload a video immediately, i am going to tell you immediately. I am switching my bias. I am doing something with my 7.4 million us dollar trade. As long as this is not not happening, i am standing my ground and i am looking here forward to the higher time frame patterns, the higher the time frame, the more legitimate the higher the time frame, the more impact actually on what is going to happen to Bitcoin in the immediate short term and what you can see usually from these breakouts, we are seeing severe pumps. The last one was 62 percent by the way big shout out to anub from iron crypto. Who was talking about that as well? You can see here the next pump actually had a severe pump again from 60 percent. So if we were just to have a similar, similar pump from this breakout – and i i i doubt it because we have diminishing returns to scale usually but also we are getting more parabolic as the time passes right, then this breakout could bring us all the way Up to 92 000 us dollars a price target.
I was actually mentioning for quite some time now and now i know from you. What is your prediction? Do you think we are flipping bearish right now. Do you think bitcoin is gon na break down and reach lower price targets? I will talk about that, or do you think that this bullish target here this bullish scenario is still in place and that we are going to break out further more towards the upside? This is my trade here. You can see 7.4 million us dollars on this femax trade and yes, i am gon na get eliminated if we are breaking down at 52. 000. So far, this trade is still in a very slight profit. I have to say 260 000 u.s dollars in a profit was already much much more, but as long as we are not reaching this and im gon na put a stop loss above this just to save a little bit in this year. Um. I am remaining bullish for bitcoin. Now we have to wait and see now we have to wait and see if this breakout is coming. But if you like these controversial videos, if you want me to talk about what i am thinking is going to happen no matter what the rest of the world is, thinking smash up the like button to a new all time high. I would truly appreciate it obviously follow me over on twitter if you want these updates in the immediate short term and the moment it is coming to my mind and, more importantly, if you are not yet part of the v launch family go down below this one.
Here we will get 100 000 followers by today on twitter and not only that, if you are part of the family, you are eligible literally for free money. Yesterday or two days ago, we gave almost three million us dollars in free to free idea. Locations out to the people in current market value, be part of the community and you are eligible for these big free ideolocations. Thank you so much for watching guys and obviously, if you want to trade, this upcoming break out or break down, i have down below more than 8 000 us dollars in free bonuses. Go to the pin comment: click the link make your own account after you, initially deposit, you get the bonus credited on femax, you get the bonus credited on buybit and you can trade with that and with all the profits from this free trade as well. Thank you.