But the question here is: will this relief rally actually continue, or is it just a temporary relief rally before price starts again showing this corrective movement? Why? Because we have seen guys in the past price action after this indicator has flashed this buy signal in the past price action, the price of bitcoin has showed some really nice massive movement, and now the question here is: will this also going to be exactly like the Past price action either you can see either the price has shown this consolidation before breaking it to the upside. After this buy signal as flash right or a v shape type of recovery, you can see by indicator. Flashed and price starts showing this impulsive movement. Here. Consolidation right, not a bishop type of recovery, but here, if you look at this from 2017, this was a v shape recovery. So now, in our case, what i am actually expecting, even though this indicator is flashing, a buy signal right, it doesnt mean the price has to show this movement or a visa type of recovery. Because if you look at the economic, if you look, how hawks the fed is right, if you look everything and look at the price section of bitcoin, the v shape recovery might not be that likely scenario. But what could be? The likely scenario is more of a range bound type of scenario like this here: guys: a consolidation in this manner right; a consolidation in this manner price, showing this movement right and after that, right after that, slowly heading towards this upper duration, because not just only this Indicator is actually showing us.

Maybe we could be seeing more of a range, pawn type of scenario in price action on bitcoin before an actual breakout take place. If you look at this one, you know monthly time frame and also guys if you havent, destroyed that like button. Yet then please do it right now and for those individuals watching this for the first time hit the subscribe button and the bell. So now, if you look at this price action, a bitcoin in a monthly time frame and use this rsi right and william percentage air, because, according to these two example in a bigger frame whenever this air is aligned, was below 50 level. What has happened after that? The price of bitcoin has shown an actual accumulation phase type of scenario, and after that, after some time of consolidation, we have started this new impulsive movement. Just like from this buy indicator right. You can see consolidation because, exactly after that, the arrays have started dipping below 50 level and also this william percentage here below minus 80. After that, you can see consolidation and, as soon as the eraser line started breaking above this 50 level and at the same time, william percentage are also above 80 level. After that, the price also started this new impulsive movement here from 2018, when we had this bigger price, pull back, you can see every sideline here in a monthly tip below 50 level. Right slowly started showing this range pound type of movement.

Here, after this price correction, right and also this william percentage are below 80 level, but once we again came above this 50 level here in a monthly timeframe in rsi and same time, the william percentage are above 80 level. We also saw this very nice price moving here to the upside again, if you look in our case guys, the price of bitcoin here right, the price of bitcoin is showing this weakness. We are aware of that. According to our indicator, maybe the price of bitcoin is going to show some more range bound type of movement for upcoming months, only after that and actually move here to the upside. And now, if we look at this errors line, the errors line had just taped below 50 level, and this william percentage are below 80. That has indicated the bottom might be nearing in. You can see it took some time for market to see an actual relief value of this actual markov phase, but it happened thats. Why im also expecting more of a range bound type of price movement here before this eraser line? Right finally starts breaking it over 50 level, and also this will in percentage are breaking above 80 level, and if that is going to happen, then we know now the price of bitcoin could be seeing this actual, really friendly or actual marketplace. After that and beside these guys, we are also aware, in a weekly timeframe, the price of bitcoin whenever it has lost the support from this 50 weekly moving average, it got gravitated towards a 200 weekly moving average same scenario has happened again and again once we lost The support from this 50, we got gravitated towards this 200 weekly moving average and right now we have already lost the support from this 50 weekly moving average and could be also heading towards the 200 weekly moving average.

So that is also one reason why im actually saying you if we are going to see more of a range pawn type of scenario like this here right price tipping bit lower before actually showing this actual movement, then we could be also slowly seeing a movement here In this manner, where the price of bitcoin reaches 200 weekly moving average and then slowly after consolidation starting this new markov phase, so thats, why guys you can see right now? This really friendly could just be a temporary really friendly. So please do not try to time the market and also do not over leverage, and not just only this, not just only this. If you are aware, we also talked about this one very interesting scenario, and why the price of bitcoin here in the media short term, is seeing this really rally type of scenario. Let me show you this with a very simple example: so guys now, if we look at this price action in a weekly time frame and simply and simply take this fibonacci extension line from this swing high till this swing low, because you can see the retracement what We had here to the downside: where did it ended? It ended exactly after approaching this golden pocket area, the 0.618, which was around 26 000 and all of a sudden this week, rejection here to the downside, indicating buyers has stepped in. But now, if we look here in a weekly hour of it, so what we want here in a weekly time frame is to close this weekly also above this point, five fibonacci line, which is above 30 000.

So if you do manage to close off this 30 000, then maybe right, we could be again trying to approach towards a point 382, which is around 34 500 and also also, if that is going to happen, then this 0.2 fibonacci line could be on the line That could be around 40 000, but for that to happen, as ive already said, you in the media short term, the price of bitcoin in a weekly must close above this 30 000 range and beside this guys. If you also look at this price action in a very simple way, by simply right by simply adding this polling trendline scenario, if you are aware, i have talked about this falling trend line or so called falling wage type of price movement that could be playing out In price action, a bitcoin and if you look at this falling trend line and also add another one here to the upside, this actually looks like more offer falling wage right and now, according to this falling wage, also, you can see the price of bitcoin, not just Only got support from this 0.6182.5 fibonacci line, but also support from this lower, like area from falling wedge, because each and every time we have seen the price retesting the lower line area. After that, we have seen this really fairly here. Also, you can see we came across this lower line area after that really friendly, and this is exactly along with this 0.

5 fibonacci line, where we found support. So if the weekly manages to close over it, we could be actually expecting this weedly friendly type of scenario. To continue before price starts again showing this weakness. Why? Because, if you look at this trend line, this rising trend line whenever the price of bitcoin was showing this movement here to the upside, this rising turn line was a strong line of support. Once we broke below this rising trend line, we got gravitated towards the lower line area from this falling wedge again. Similar scenario unfolded here once the price broke out of this rising trend line. What happened here, you can see guys the price of bitcoin showed this retracement towards the lower line area, just like it from past price action. Now, if this is going to happen, one more time, then maybe right, maybe first, the price of bitcoin is going to show this consolidation just like here. This consolidation guys just like here right before breaking it to the upside sorry downside here: consolidation before breaking it to the downside, so thats. Why? If this is going to be more of a consideration before price, again dips here towards this 24, 25, 000 range right and finally breaking it to the outside, then that will also make a lot of sense, so thats, why, with different perspective in different time frame, i Want you guys to understand that this really friendly may not be actually an actual relief rally that we have been waiting for? This could just be a temporary relief rally before price again starts breaking into the downward direction.

So this are some of the interesting scenarios. What i thought sharing with you in todays episode, if you enjoyed my vlog, then please hit the like button and also for those individual watching this for the first time hit that subscribe button and the bell. So by saying this im signing out, my name is anub.

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