You know no long update, really not much has happened. The only real update here since the last video is that bitcoin is working its way. Higher last update was um here by the way, its a very quiet weekend. It is a very quiet weekend which is not a problem. The last few weekends were really quite busy yeah. They were really quite busy and there was a lot going on. So i dont have a problem with it being a little bit of a quieter weekend. Im sure the next few days, maybe next week, will already be more busy lets, take a look at what actually happened since the last video. So obviously, bitcoin was working its way up here from the swing low of 17 500 in a potential first impulse. Then a first correction down, and then we are starting here this next impulse in which we might be now. However, this is not proven yet. Bitcoin needs to make it above that wave one high theres a bit of a resistance zone in which we currently are, and i can highlight that resistance zone to you here. This is definitely a zone through which bitcoin now needs to get between these two resistance levels: 21, 360 and 21 – 712. That is what bitcoin needs to get through, and then i think, if we look at previous support resistance here, there isnt really much most trading has happened down here and it got rejected quite a few times in this zone.

So if it makes its way through this, we can expect it to reach this area here, which is located between twenty three thousand and twenty three thousand three hundred and thirty, and if it makes it through here, it can definitely reach higher prices. I believe this will be a very, very important level to get through and until we really get through this highlighted uh area here between that twenty, three thousand and twenty three thousand three hundred and thirty level, we still have to assume that we will see lower prices That risk is still very much there, especially if the price is starting to roll over here, because then it could just mean that this corrective wave 2 was never finished and that were just in a larger, a b c correction. So this count currently assumes we are in a wave 3.. If we, i know f3, it really needs to start going higher now and push through this um resistance here highlighted in red now what happened since the last video? We are indeed slowly making our way higher and in the last video we were here yeah just to make you aware that we are retesting this previous resistance and that the hourly candle obviously needs to close now that closed, and it was a retest, was performed. As i mentioned, this is always an important signal to watch out, for we had a signal and a possible trade entry. Now again, this is only a trade setup idea, im not telling you what to do, but this is what many people would have done.

They would have waited for the retest here, after breaking of resistance waiting for the re test. Looking for a bullish signal, which is this engulfing candle and then entering a trade now, this has happened um, maybe some people will have done it, possibly with a stop loss down here. That is a very, very short term trade um. Another trade setup idea would be to wait until this wave one high is broken, because the problem with this one here um, is that you have resistance already up here at 21, um 566, which is really not a long way to go, and you have resistance up Here at 21, 700, roughly yeah, but um this still can push higher for me personally, it would be a bit too risky to enter here. I would want to wait um until we get above that level, yeah and then move higher from there get confirmation here. So basically also make make the way through this resistance level break it, um retest it and then move higher from there, and then you know there shouldnt be much in the way to reach that 23 000 level. We can also add the um bpvr onto the chart, and you can see that a lot of the historical volume obviously is happening in this area. Here there isnt really too much going on here um. If we go to the four hour chart zoom out a little bit more, no there isnt much.

There will be a lot just historical stuff from from way back uh. I dont think that is too relevant. So at the moment yeah, i think if we make it much higher and we have now broken the 21 500 level, which is interesting. Then we can push through this area here entirely and go to that next resistance box, which is so relevant now next level to watch out for, is obviously the next swing high, where we were getting rejected again, its always a bit of a zone first level is Here, um, where those candles closed at twenty one thousand five hundred next level is here where the week ended at twenty one thousand five hundred eighty six. That would be a good indication, but then really it is this wave one high. That needs to be broken at twenty one thousand, seven hundred and yeah ten, pretty much yeah so sort of in this area, and this is currently what seems to be happening. We saw an engulfing candle here and now our price action seems to be confirming that bear in mind. We are still below this um ascending trend line, not necessarily a problem, but we failed to get back into this ascending wedge, as you can see here yeah. So we have an ascending wedge on the chart: thats, not necessarily a problem as long as we still make higher highs and higher lows um. As per this wave count, we would push higher, obviously in a wave 3, and this wave 3 here in white would take us exactly into this red resistance area.

This is only a sub wave of the purple wave 3, which would end here somewhere around 26 000. 26. 500. This is a 1.618 fibonacci extension level um and there we go. You know and were working our way higher, so lets see how sustainable that is. It is generally on a weekend lower volume that you usually see so, especially here on this weekend, we havent seen massive volume. I mean its the 26th. Today you can see that volume already dropped off. We have seen more volume generally in may, compared to um. No more volume in june compared to may, i believe, but so whats been going on the last few days. Wasnt really a lot. Therefore, it is also very slowly and really getting higher here, um. Nevertheless, it can, it can go higher and as soon as certain levels get broken, you would believe that more volume is coming in, because a lot of buyer will buyers will get interested. I will be. I believe that at the moment, a lot of people are just waiting what is happening in this resistance area and maybe even this area yeah when this one gets broken here. I think this frees up quite a lot of uh yeah, a jump to the upside yeah. So it will unlock higher prices. This area is quite relevant because of these significant structurally significant swing, lows that we have seen here so bitcoin, not yet ending its uptrend. We continue to make higher highs higher lows.

What we need to be aware of that the uptrend is slowing down a bit yeah, and it really is all about. Can we push through this area now and make finally a higher high compared to the wave one if we dont it might just be a corrective wave up here? So, in my opinion, all eyes really need to be on this resistance zone, especially the twenty one thousand. Seven hundred and twelve dollar level, again plus minus a few dollars prices are never that exact and um theyre, always dynamic, so its always a bit of a zone anyway. But what you want to see is a price zone broken and then retested from above. To get the best possible confirmation thats, where we currently are thats what is happening on the bitcoin chart.

https://www.youtube.com/watch?v=UQqcz44zLYU