😱 OMG!!!!!!! BITCOIN IS GOING THIS LOW!!!!!!!!!!
So if you want to find out where this continuation is going to happen also, if this is going to be a fake out, what must play out in the price action, bitcoin intermediate short term, i am going to explain all this in todays video so do watch It till the end and for those individuals who has not destroyed that like button who has not subscribed to this channel. Please do it right now, so, starting this year in a four hour time frame, i am going to keep it very simple. As you can already see guys, the price of bitcoin has already broken below the key level of support. The support which was supposed to hold the price around this 19 500 to 20 000 range, because we can see very clearly the same line which has previously acted as a line of resistance, actually was supposed to hold the price around this nineteen thousand five hundred. Twenty thousand range we are below it, and it is also giving us a sign that this strain continuation or this police continuation pattern is going to be invalid and we are going to see another sailor from here on. If that is going to happen, then where is the price of bitcoin, possibly heading? So in our case, if we are going to consider that this police continuation pattern now is going to be invalid, then we have to focus on this rising weight scenario guys now before. I switch into other chart.
I just want to make you aware: we have up to 5 150 crypto exchange bonus available for you in the description down below famex is giving around four thousand one hundred dollar bonus after you initial deposit, and by bit around one thousand. Fifty dollar bonus, so if you are an experienced trader, if you want to take advantage of this market volatility, the link is provided in description down below so feel free to check it out now lets switch the chart. So even this rising weight scenario looks like it is playing out before showing any sort of a really friendly people showing any sort of a consolidation right. It is showing that we are going to see a continuation here in this manner. I mean the price of bitcoin. Has already reached the first target from this rising wedge and the second target, which is around 17 700 to 18 000 range, could be on the line because i made it very clear yesterday if we are going to break below this 19 520 thousand support line, then The lower price target right, even the target around this fourteen thousand fifteen thousand, could be on the line and now, since the price has already failed to hold the support around this upper line, area of the descending boarding wedge and also the inversion and shoulder the neckline Area since we are below it now, this is another bearish continuation pattern, which is playing out right now for bitcoin, and this berries continuation pattern is also indicating that this strain here right, even if we are going to see any sort of impulsive movement, the same line Which previously acted as a support is going to be acting as a resistance, and this could be looked as a continuation pattern here towards this 17 000 to 18 000 range.
I am not making this out guys if you also look at this here in a bit different way. Let me show you this one very, very interesting pattern, which is being also flashed right now so now i want to talk about this double top pattern, also known as adam and eve. This is indicating the price of bitcoin, since we have broken the key level of support. This could indicate another bigger sell off in the upcoming days. Why? Because, according to this double top pattern or adam and eve patent, you can see support line or the neckline has already been broken right, because you can see very clearly. This line was a very, very important line of support for bitcoin, right support, support each and every time the price tested or on this neckline area, we had a very strong support, but now, since we are below it, this is what we are going to focus around. I mean the continuation here in this manner, so now you can see guys if this is what we are looking at, then you can see according to this double top pattern or adam and eve, the continuation is going to look somehow like this. I mean the trend continuation. If its going to happen, then you can see guys. Where are we getting gravitated? We could be getting gravitated around this 18. 000 to 17 700 price area, so thats why this lower target is going to be our potential download price target, and not just only through this rising wage, which is also indicating this lower target is our potential downward target in the upcoming days and now also through This double top pattern or adam.
If pattern, this lower target is where we could be getting gravitated so thats, why guys? Now, since the price is below 20 000, this lower target makes a lot of sense and beside this example guys. What i also want to include into this video is this cpr indicator, because, according to the cpa indicator, which is considered as a leading indicator, we are getting another warning sign, because we are where the price of bitcoin has failed to test the resistance around this monthly S19 line, which was sitting around 24 700 right now, we are around this s2 area. So if this s2 is being retested, then you can see. This s2 line is also sitting around 17 700 price range, so this monthly cpr is going to end today. Yes, you heard that right so tomorrow we are getting a new cpr price target for bitcoin and the new cpr is going to be a descending cpr. So we know in a monthly timeframe, whenever the price of bitcoin has showed this impulsive movement. What has happened in most of the cases? The cpr line, this purple line? You can see its forming ascending cpr in a downtrend. It forms descending cpr, ac, cpr descending cpr. In our case, you can see after the short sne cpr, we are forming this descending cpr and descending cpr means the train is in a downtrend. And now, if we look at this june cpr the next month, sepia the july month, cpr, which is going to be placed tomorrow, is also going to be a descending cpr, because if the candle is going to close somewhere around this nineteen thousand eighteen thousand, twenty thousand.
The next month, cpr is going to be somewhere around this area, so this is also a descending cpr, which will indicate the price of bitcoin is clearly in a downtrend, so thats, why guys thats? Why? You can see even the july month, cpi is going to be a decent ecpr, which is going to indicate another sign of weakness in price action. A bitcoin not just only this, since the price of bitcoin has already broken the support around this 20 000. We have to be careful because, according to this big of bf flag, our target is going to be somewhere around 14 to 15 000, and this 14 15 000 is still open. So if we are going to remain below this 20 000, all the time right price is going to fail to close the daily above this 20 000 range. Then we have to be very careful because this is also going to indicate another sign of weakness for bitcoin. In the upcoming days and this weakness could bring the price towards this 14 to 15 000 area, not just only through this bf flag, we are getting this 14 15 000 price target. But if you also remember 2b reversal pattern, this price action is also flashing. Us the next area of confidence is also going to be somewhere around 14 to 15 000 price area, so thats. Why thats? Why? For us, this 14 to 15 000 is also going to be on the line for bitcoin.
If we are going to remain below this 20 000 all the time, so these are some of the quick update that i wanted to share with you in todays video. If you enjoyed my work, then do destroy the like button and also for those individuals watching this.