But if you have been following me for a while, i was warning you guys if the price of bitcoin is going to show further weakness to break above this monthly as one line that was around 24 000 and we are going to remain all the time below This monthly s1 line, what was going to happen? We were going to get attracted towards this monthly as to line which was hitting around 17 700 555 and yesterday, when the price of bitcoin started this downward movement. Where did the price came and where we are finding support exactly guys exactly around this monthly s2 line, which is around 17 700 price area? But the question here is: will this s2 support remain because we want to find out whether the price of bitcoin is going to so really rally or not? And if it does right, then where we could be possibly hitting, but if it fails, then what kind of berry scenario could be also unfolding in this june month for bitcoin? We are going to talk about all the scenario into this video. Please watch it till then, and also guys also if you havent destroyed that like button. If you are not subscribed to this channel, then please do it right now. So if you look at this leading indicator, central pivot range indicator, which did predicted the price of bitcoin, going to see this retracement exactly at this monthly as to line. But now we want to find out if this monthly asset support is going to get broken, which price target are we going to focus? Because if we look at this monthly s1 line, which has already been triggered monthly s2 line, which has also been triggered? But now i am going to show you the monthly s3 line.

This monthly history line is the final and also the worst worst case scenario that could happen to bitcoin and now, if you look at this monthly s3 line, where is this monthly s3 line lying around? This monthly s3 line, as you can see, is lying around 10 110, so lets hope for the best and lets not focus on this very scenario. As long as the price of bitcoin is holding this line around this 17 000 area and beside this example, what i also want to include is this one scenario here now before i switch into other chart. I just want to make you aware: buy bit is organizing this event, wsot race to the next level, with a prize pool up to 8 million usdt. I am taking part if you want to be part of my community and trade along with me, then do join this squad because if you join as a squad member, then they will ask you to write the name which squad leader are you going to choose? So if you want to choose me as a squad leader, then our group name is piranha piranha because you know piranha, never hunts alone, so thats, why i chose this name. So if you want to be part of the piranha community, then do join it here. Its a very, very simple process, the link is provided in the description down below now. Let me show you why this one, two three reversal in monthly time frame, played out perfectly, because we were actually expecting a very, very similar scenario to unfollow, just like it from 2013, 14 2019 and he in 2022 as well, because we saw that each and every Time this one two three reversal, the reason the support was broken after that the price started, this downward rally.

This download rally ended after we reached the lower target from this one. Two three reversal pattern. Exactly after reaching around that area, we started with this new markov phase here as well. You can see we came at the target area. Markup face another marker phase and now, since the price of bitcoin is also exactly at this target area between 17 18 000, will we also see another mark of face just like here from past price action? It doesnt mean the price cannot go lower. Here we went lower than the actual price target, but the buyer stepped in and then started this new rally. So what i personally believe in our case could be unfolding is more of a range bound, even more shakeout, on our way and also months of consideration before starting this new marketplace, because we are aware for an actual marketplace, we need a proper accumulation phase and end The capitulation phase – i have talked about this – why cause market cycle and why this wike of market cycle is playing out perfectly as well, because we have found out that the price of bitcoin after this redistribution phase has clearly started this download rally. Because, if you look at this y cos market cycle for an actual or this new marketplace, we need a proper accumulation first, so thats, why guys thats why there might be some more movement here in this manner? I mean price of bitcoin, showing a small relief rally.

Another pullback here to the downside, actual consolidation, a months of consideration before showing this new movement here to the upper duration, so thats, why guys thats? Why? Please do not rush the process, and that was also one big reason why i was warning you not to over leverage and use proper risk management, because i have seen many people taking long position around this 200 weekly moving average because in the past price action, whenever The price of bitcoin has approached around this 200 weekly moving average. We have started this new impulsive movement in our case when the price was around this 200 weekly moving average. I warn you guys not to take any position, because it doesnt mean the price has to see a reversal, just like it from past price action, because in our case you can see the capitulation phase has just started so thats. Why we were careful and also expecting more of a range bound, even shake out here to the downside, before ending this capitulation phase and starting this new marker phase. So that is the reason why i was warning you not to over leverage and also to use proper risk management and now guys now, if you look at this one example, this bill flag, this spare flag is going to be another very, very important price scenario here. Why? Because if we look at this bf flag according to the bay flag, our target, the actual barefoot target, is somewhere around 14 to 15 000 price area.

So if this train is going to see further retracement, then you can see this 14 15 000 could be the bottom line where the price of bitcoin is going to find an actual support consolidate months of consolidation. Before starting this new marker phase, then you can see this pair flag is also going to play out perfectly so thats. Why guys thats? Why? For now, this 18 000 is going to be a very strong support because thats exactly where our monthly s2 line is lying around sorry 17700 to 18 000, its a very, very important line of support. So, unless this support is not going to get broken, we are expecting some sort of a relief rally, just like here, playing out right, a small relief rally before price again breaking into the downside and showing months of consolidation phase, because i personally think the price of Bitcoin could be showing another moment just like it from past price action. Let me show you this in another chart now. Let me quickly show you what i personally think could be playing out here, because i just showed you with this white cost accumulation phase. We could be seeing some relief rally and then our continuation here to the download duration people starting this new marker phase and with this monthly time frame, the capitulation phase are just begun, so thats why we could be seeing months of consolidation. Even this capitulation, and only after that, starting this new marker phase, so thats.

Why? If that is going to happen, just like what we said, then, what i personally believe is the price of bitcoin could be showing a very, very similar movement here in this manner i mean a consolidation, a small rally here, right again, a pullback to what is 14 To 15 000 area, and then months of consolidation before breaking it to the upper duration in this manner, so you can see in a bigger frame. This is what i am expecting the price of bitcoin to do im not expecting a relief rally here or a v shaped type of recovery to happen. This consideration is going to last longer than expected. I think its going to be years of consolidation before price of bitcoin finally starts breaking into the upper duration. So this is what i see right now. Looking at the price action on bitcoin, i hope you guys enjoyed it and i hope this video was helpful enough. If thats, the case then do destroy that like button and for those individuals watching this for the first time hit that subscribe button and the bell.