ANOTHER BITCOIN BREAKDOWN INCOMING?!?! [must watch asap]
So guys, if this sounds interesting for you and if you do not want to be fine and missing out about any of the further content here on this channel, dont forget to right away slap that like button subscribe to the channel and, of course ring the bell Notification, so you will definitely not miss out on any of the further contents that were going to drop out here on this channel, but with that being said, guys lets jump right away in towards the content. So currently we can see. Bitcoin is creating a symmetrical triangle here on the market. It has been forming a significant downward sloping trend line here from the top side. This dimmer sloping trend line has been providing resistance along the way down here and together with this downward sloping trend line, we are right now as well forming an upper summing support line with already four touch points. So right now were forming a very significant, symmetrical triangle, and this one will be breaking out here in the coming hours ahead of ourselves to be exact. The apex will be getting reached here in 14 hours from now on, and i personally do expect that, within from this hour of recording in this hour of publishing that were going to be seeing a breakout within the coming 10 hours so yeah today, we could be Expecting some more volatility and, of course depending on which direction were going to be breaking towards, depends on which direction were going to see the volatility towards.
As soon as we do break the top side of resistance, i do think we could be seeing an uh. We could be seeing an approximately five percent movement towards the upside getting generated and, of course, that could be uh yeah, bringing a lot of wealth to you to your position, of course, every game to take a trade. I should only look for a trading position as soon as we do break the top side of resistance and re test, the um, the previous resistance, as support on the next one and, of course, on that range we could be trading all the way up here towards Approximately levels around 45 thousand us dollars, but of course, like you, can currently see here, bitcoin is random as well retesting the lower side and if bitcoin is going to close as one hourly candle below the support line, yeah that we could be looking for a little Bit of lower targets, depending on when we are going to be breaking out, were going to see an approximately 5.5 percent decreasement in price action and bitcoin could be seeing, of course, a further continuation down towards lower targets. So, for me to say i am bullish or bearish will be really determining on whether bitcoin is going to be breaking out on the lower side or whether bitcoin is going to be breaking out for the top side. So, for me, im right now its still waiting game as soon as we are going to be breaking out towards either direction.
I will be right away, drop out. Another update here for you guys out here on this channel and of course, as soon as were going to see some more market volatility, i will be right away smash up that live button here on the channel. So please take your eyes wide open on the market. Right now, because its going to be extremely important to look at as well, the four early time frame were not seeing a lot of interesting things, even though we have been seeing, of course, a significant amount of bullish diverge getting formed along the way down over. Here we could be brightnessing the effect further on getting created here, because we create a lot of bullish diverge over here. It could be leading towards more price action towards the upside. Getting uh formed from this point here so definitely do look forward towards where we are heading towards from at this point, as well daily time frame for bitcoin ive been saying it yesterday as well. Here right now were in a new week. New opportunities, of course, are occurring right now, but the daily timeframe for me looks like, of course, a very strong range of accumulation. Bitcoin is currently trading a negative defending rates like you can see over here. What this basically means here is that the big market makers, the big market traders, are right now trading most most, certainly more short, so the majority of the money is going.
Uh is currently trading short and thats. Why you see only green across the border and everywhere, where you see green? That taken is over leveraged towards the downside and everything. Whats red is basically over leverage towards the upside, and we can currently see that bitcoin and ethereum is massively over leveraged towards the downside, and that is the reason why we are currently seeing negative fending rates, and that is once again a reason why. I do think right now is a very good accumulation range together with the horizontal range that were currently retesting, so its definitely a fundamental research, its definitely something that you should take in your analysis. Funding rates is a very important part in your analysis and, if youre, not taking funding rates within your analysis, youre definitely going to be missing out on a lot of good uh trades here, because right now, this is suggesting me that we are on very good times Where we could be lending a swing trade on together on bitcoin right now, we can clearly see we um. We open to see me go once again here and we have been forming a cme gap. So thats also pretty positive thing here since bitcoin is running training on the 41.7 k, we do right now having a whole week ahead of ourselves without any cme gaps. Of course, we do still have a cme gap, but that one is of course above us here around the 43 thousand us dollars, so im still waiting for that one as well to be getting filthier, but so far for the imminent short term.
I will be just looking for the symmetrical triangle so guys, thank you so much for watching once again towards this amazing new update video here on the channel and, of course, as soon as were going to be breaking out, i will be dropping out another update here. Either on my twitter or here either on my youtube channel, so dont forget to follow me on my socials and subscribe to the channel and ill see you guys on the next one.