I will be also talking about the price target for this march month for bitcoin and along with that, we are also going to announce the five giveaway winners who will be receiving each two thousand dollar at the end of the video. So definitely watch it till the end, so starting here in a four hour time frame yesterday on my video, i showed you that the price of bitcoin was forming this inverse head and shoulder as soon as the price broke out of this neckline area. That was around ‘ 600 to 40 000 range. We had this parabolic price movement and if you look at this price movement now from this head till the neckline area, you can see the price target from this inverse head and shoulder has been reached because around that area we knew this is going to be the Neckline area of the double bottom scenario, which we also talked tonight, yes, this video – let me show you one more time so on my yes, this video, i showed you in a four hour time frame that the price of bitcoin was forming a very nice double bottom Type of formation, but one thing was very, very clear. This movement here towards this 44 45 000, was not going to be an easy movement because we knew there was some strong line of resistance acting around this 40 000 range. But as soon as we broke out of it, we saw this parabolic move where the price of bitcoin also got approached towards the neckline area, which was between 44 to 45 000 range.

So now what to expect next, because you can see here – is it going to flip this way? This is around 44 45 000 also into support, because if its going to do that, then this is going to continue towards this 50 000 range. But beside this double bottom, if you also look at this price action in a bit different way, i mean, if you add this one two three reversal pattern in this way and look at this one, two three reversal bottom, so you can see here. This is our point three area, if you focus only at this one, two three reversal scenario: not the double bottom formation, because if you look at this one example here, the train is a berry strain right. This here is a bearish trend, but when the price see this relief rally gets retracement forms. This point three area, which also looks like more of a double bottom type of formation, but the 0.3 in this case will be higher than the 0.1 area, and in our case, if you look at this, it did actually also indicated the one two three reversal. Type of formation, and, as you can see here guys according to this one, two three vessel after finding a proper support around this point, three area price usually sees this reversal and in our case right now, we are approaching around this point two area. So if the price of bitcoin is also going to flip the resistance around this 44 45 000 into support, then there is a very high probability that the price is going to continue towards this 50 000 price area, and this is exactly what we want.

The price of bitcoin to do right now, but if you look at this in a smaller time frame, you can see this one pattern, which i also mentioned on my yesterdays video. So yesterday i showed you this one scenario where the price re tested the previous temporary resistance line, because we knew, if you simply follow this falling trend line. This fall into line was a very important line of resistance, but once the price broke out of it got a retracement. You can see exactly after reaching around this trend line. We found support and then you can see. We also saw some really nice bounce in price action, but the question was whether this train is going to continue here to the upside or not, because we knew around that price range of ‘. 640. 000 range. We had some strong line of resistance acting for bitcoin, which was the upper line area of this right angle, broadening which, if you ignore this falling trend line. This was a very nice right angle, broadening wedge formation where the price broke out of this resistance. The upper line area, and as soon as it broke out of this resistance line, the upper line area of this right angle, loading weight, which also started this new move here to the upside, so thats. Why? Right now, things are looking good for bitcoin, but lets look at this central pivot range indicator, which is a leading indicator, and this leading indicator has already flashed us the new price target for this march month, not just only the upward price target.

Also, the download price target will be talked in video, so now lets switch the chart. So now, before we talk about the cpi indicator and also the price target which is being flashed for this march month. Let us congratulate to this five individual, who has just won two thousand dollar each. The giveaway total was ten thousand dollar five winners, two thousand dollar each. So if your uid is one of them, then definitely go to the video description down below and fill up. This google doc after that, i will be crediting you two thousand dollar in form of usct, in your account. So, congratulations to you and now lets switch the chart so now lets talk about the cpa indicator, which is known as a leading indicator because it provides us with information beforehand. So now, if we look at this leading indicator and also look at the cpr price target, as you can see, we have two price target for this month, one here to the upside and another one to the downside. So if you look at the cpa indicator the new price target for this march month right, a must reach price target is sitting around 47 900 to 48 000 price range. So, according to the cpa indicator now we know this is where we might be getting gravitated. If the price of bitcoin manages to stay above this cpr lines, which is lying between 40 000 to 42 000 price area, and now since the price is above the cpa line, this cpa line between 40 000 to 42 000 is going to be one of the Strongest line of support for bitcoin in case we see any sort of retracement and we could still be getting approached towards this monthly air one line for this much month, because we know, even if this is going to fail, i mean price is going to fail to Find support at the cpa line and we are going to test the monthly s1 line.

This monthly s1 line for this march month is sitting around 36 300 price area. But if you look at this monthly s1 line, even if the price is going to go this lower, we are still forming this higher highs higher low. So that is the reason why for us right now, if the price of bitcoin is going to see a retracement towards this monthly s1 line, this is still going to form a higher low. So please do not forget that, but for us right now it is very, very important that we stay above this monthly cpr lines and this monthly cpr lines are between this 40 000 to 42 000 price range. And now let me show you this twist that i was talking about, because if you look at the price structure here, let me switch into four hour time frame. You can see the price of bitcoin has started this new rally without touching any of the cpr line. So this indicate that this cpr line is a vcp align, which indicates the price could be getting gravitated, at least towards the cpa line before again choosing an trend direction. So this cpl im here to the downside between this 40 000 to 42 000, is going to be acting as a magnet. But one thing what i want to also include into this video is this sepia formation, because, as ive already mentioned so many time in my videos, whenever we have seen a new markup phase right, the cpa line usually tends to be acting at the support and it Forms a sending cpr, i mean higher high cpr, but in a downtrend, the cpa line acts as a resistance and also form this descending cpr, but as soon as the price finds a proper support above it and also the next month, cpr is the async cpr.

After that, you can see the price has shown a very nice impulsive movement. So in our case, since this december month you can see the price was forming this d, sending cpr where the resistance was this cpa area. But now, in our case, for this march month, the price of bitcoin is above and not just only that we are forming this a sinisipia, its not a clear sne cpr, since the price is still lining up with the previous monthly cpr line. But this is definitely a good sign, because this is indicating us that the price of bitcoin is now going to find a strong support around this 40 000 to 42 000 range. And if this is going to stay like this, then you can see. This could be a sign of a train continuation, because whenever the next one cpi is an ac cpr, it usually indicate the price of bitcoin could be seeing this reversal from here on. So this is also indicating that now things are slowly looking in favor of builds for bitcoin, so lets see how things are going to be developing for bitcoin, so guys. These are some of the interesting scenarios that i wanted to share with you in todays video. If you enjoyed my vlog, then please hit the like button and also for those individuals watching this for the first time hit that subscribe button and the bell.