Full transcript
0:00Yo, welcome everyone. Only a few days
0:03ago, Bitcoin right here got another
0:06major pump. However, it was rejected
0:08very, very quickly. Today, I will show
0:11you exactly what will probably happen
0:14next, why I entered a new short trade,
0:16and why the main price target is at
0:19approximately 86,000 US dollars. Now,
0:22first you will notice only a few days
0:24ago, Bitcoin hit the monthly high from
0:26timeframe area of support almost to the
0:29exact dollar accuracy at 76,300
0:33US dollars. Now, in my opinion, the
0:35monthly level by itself, it's not really
0:37a major one. That is why we need to find
0:40some other levels that were aligning
0:42with our monthly level right here. But,
0:44what we are going to do? Let's go with
0:46our fixed range volume profile measuring
0:48the entire upper price action. And, what
0:50you can now see, value area low was
0:53coming in slightly higher than our
0:55monthly level. But, also, we confirmed
0:57right here a liquidity grab below our
1:00recent low, and then suddenly also got
1:02the acceptance above the value area low.
1:04This right here was a bullish indication
1:07for Bitcoin, some kind of a sign of
1:09strength. And, that is simply why right
1:10here we got another rotation back to
1:13where the upside. But, not only that,
1:15let me now apply the RSI indicator on
1:17our chart, for example, on the 4-hour
1:20timeframe because this one right here
1:22was a major bullish indication. Look
1:24right here on the RSI. Lower lows were
1:27being formed while on Bitcoin we were
1:29forming right here another major higher
1:32low. This right here is a very much
1:34hidden bullish divergence, bullish
1:36Bitcoin indication at the area of
1:37support. That is why right now right
1:39here Bitcoin got another major pump.
1:43But, you will now also see the level was
1:45hit almost to the exact dollar accuracy.
1:48Of course, right here we are talking
1:50about the weekly level at approximately
1:5282,200
1:53US dollars. Level hit almost exactly.
1:56Bitcoin grab the liquidity exactly above
1:59average high and that is now why we are
2:02getting right here another rejection
2:04back down but not only that we hit the
2:06weekly we grab the liquidity exactly
2:08above the highs but also let me now go
2:11again with the RSI indicator for example
2:13first of all on the 4-hour time frame
2:15right here major lower high on the
2:18Bitcoin price another higher high this
2:21was a regular bearish divergence also on
2:24the 12-hour time frame pretty much the
2:26exact same story lower highs on the RSI
2:29higher highs on Bitcoin regular bearish
2:31divergence this bearish divergence was
2:34also forming on the daily time frame
2:36lower highs on the RSI higher highs on
2:38Bitcoin major price target hit the
2:41weekly level right here and that is now
2:43why we are getting right here a
2:44rejection back down that is also the
2:46reason why personally I did fire a new
2:48short or a sell position of Bitcoin
2:50right here only a few hours ago at
2:52approximately 79,700
2:54US dollars right now not only that I
2:57would like to show you exactly what is
2:59probably going to happen next right here
3:01what is the lower price target but also
3:04why the main price target it is still
3:06going to be much higher at approximately
3:0886,000 US dollars now you probably
3:11remember a few videos ago I was talking
3:13about the value area low on the daily
3:15time frame so right here I'm actually
3:17going to remove all of the levels from
3:19our chart let's go again with our fixed
3:21range volume profile measuring the
3:23entire bottom price action right here
3:25the value area high in my opinion is
3:28currently one of the most important
3:30price targets we should really be paying
3:32attention to come again at 74,800
3:36US dollar area but also let me go here
3:38with the anchored view up area of
3:40support anchoring it at the exact low
3:43right here of this major pump toward the
3:45upside and you will now see anchored
3:47view up come again approximately at our
3:49value area high so by itself the value
3:52area high and the anchored view app are
3:54already major areas of support. But,
3:57also, once we now combine the value area
4:00low and the anchored view app with the
4:02bullish Elliott wave count, we can
4:04really talk about a very highly scenario
4:07to be formed in the upcoming days.
4:09Before I do talk about it, I would
4:10really appreciate for you to write here
4:12right now smash up the like button
4:13because 1,000 likes are definitely
4:16possible. But, also, thank you for
4:17subscribing to the channel. Now, let me
4:20do show you exactly what is probably
4:22going to happen next on Bitcoin in the
4:25upcoming days because, first of all, I
4:27am expecting lower, but then also, I am
4:29expecting much higher price targets to
4:31be reached in the upcoming days. So,
4:33first things first, I'm going to do
4:35right here a top-down analysis, which
4:37means that, first of all, we are going
4:38to be using a higher term time frame,
4:40the daily time frame. Then, we are going
4:42to be zooming in, for example, on the
4:44four-hourly, two-hourly, maybe even on
4:45the one-hourly. But, overall speaking
4:47right here, Bitcoin might be forming
4:49some kind of an ABC correction. What
4:51does it mean? We go right here with our
4:53Elliott correction wave where we are
4:55going to identify that this entire move
4:57up was probably an A Elliott wave
5:00corrective structure. This entire push
5:02down was also some kind of a corrective
5:04structure forming the B Elliott wave.
5:06And now, in the C Elliott wave, we are
5:08talking about another corrective
5:10structure. However, we also need to be
5:13paying attention to the five-wave
5:15structure in our C Elliott wave. What
5:17does it mean? We can now go right here
5:19with our Elliott impulsive wave where we
5:21are going to say right here Bitcoin
5:23finished the first impulse. We got a
5:25correction back down. This entire major
5:27pump was probably now also the finished
5:30third Elliott wave, which means that we
5:33might be expecting the fourth Elliott
5:34wave to be formed in the upcoming days.
5:36That is why I am right now in a short
5:38position on Bitcoin looking for our main
5:40price target at approximately 74,000 US
5:43dollars. And once the rejection back
5:45down is probably going to be formed
5:47right here. We are then looking for
5:49another push up finishing the entire
5:51five-wave local price structure,
5:53finishing the bigger C Elliot wave,
5:55which then also means we finish the
5:57entire ABC correction back toward the
5:59upside. But, once the C Elliot wave
6:01right here is finished, yes, potentially
6:03we are still looking right here for
6:04Bitcoin to get another major rejection,
6:07major rotation back toward the downside.
6:09And probably right now you're wondering,
6:11"Bro, why did you before mention that
6:13the 74,000 US dollar area right here is
6:16such an important level?" I'm right now
6:18going to go again with my Fibonacci
6:19retracement from the exact low all the
6:22way to the exact high, measuring the
6:24entire third Elliot wave. And now we
6:27need to go right here with the fourth
6:29Elliot wave price targets. And you can
6:31now see the 0.236 Fibonacci retracement
6:34level is technically speaking the first
6:36important level. In my opinion, it's
6:38actually not the most important one,
6:40simply because at the 0.32 we simply do
6:43have much more confluence. And as we
6:45said before, the value area high is
6:47coming in almost exactly at our 0.32.
6:50Now, the thing is, you could be going
6:52right here with the logarithmic scale or
6:54simply going with the normal scale. If
6:56we go right here with the normal scale,
6:57it does seem like we do have right here
6:59an even better alignment with the 0.32
7:02and the value area high, but of course
7:04also with the anchored VWAP when we
7:06anchor it exactly at the specific low.
7:08But, in my opinion, the most important
7:10thing we are going to be paying
7:11attention to for our fourth Elliot wave
7:13is going to be some kind of an ABC
7:16corrective structure back toward the
7:18downside. And in my opinion, another
7:20important thing is that Bitcoin does
7:22take out this specific low right here on
7:24the daily time frame coming in at
7:25approximately 75,500
7:28US dollars. Once we go below our recent
7:30low right here, once some liquidity is
7:32taken right here, once Bitcoin ideally
7:35hits our 0.32 Fibonacci and the value
7:37area high, then we can talk about the
7:39fourth Elliot wave finishing right here.
7:41And then of course, also we will be
7:43looking for another major pump toward
7:45the upside. Also right now, you're
7:47probably wondering, "Bro, why is your
7:49main price target coming in at
7:51approximately 86,000 US dollars?" Of
7:53course, the price target does depend how
7:56low the fourth Elliott wave right here
7:57is going to go. I'm right now going to
7:59go again with the log scale because one
8:01of the price targets of the fifth
8:03Elliott wave is the one-to-one Fibonacci
8:05extension level of our first impulsive
8:07Elliott wave. So, what we can do right
8:09here, let's just say Bitcoin is going to
8:11bottom out at our 0.32 Fibonacci
8:13retracement level. We go right here from
8:15the low measuring the entire first
8:17impulsive Elliott wave, putting the
8:19third pivot of the Fibonacci extension
8:21at approximately this specific area.
8:23Let's just say it's 74,000 US dollars.
8:25And here, the one-to-one Fibonacci
8:27extension level is one of the most
8:29important ones coming in exactly above
8:32the recent high at approximately 83,556
8:37US dollars. Now, probably you're
8:38wondering, "Bro, this right here is not
8:4086,000. It is clearly 2,500 US dollars
8:43lower than your mentioned price target."
8:45But, what we can also right here, we go
8:47with another Fibonacci extension from
8:49the low right here all the way to the
8:50high, all the way to the low. And no,
8:52I'm not going to be looking for the
8:54one-to-one here. The next important
8:55target it is going to be the 1.236
8:58Fibonacci extension level coming in at
9:0086,000 US dollars. So, my price target
9:03area it is going to be slightly above
9:05the recent high right here, the
9:06one-to-one, or if we are going to go
9:08just slightly higher, the 86,000 US
9:11dollar area of resistance where
9:12potentially we might then also finish
9:14the entire ABC correction. And also of
9:17course right here, look for another
9:18major rotation back toward the downside.
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10:08me do talk about another very
10:10interesting indication happening on the
10:12daily and also on the one week time
10:14frame when we are talking about the
10:16different indicators. I'm going to write
10:17here go with the after stochastic. First
10:19of all, on the one week time frame
10:21because this one for sure, it is looking
10:23very, very interesting and it actually
10:25does align very nicely with our bearish
10:28Elliott Wave count. Look right now at
10:30this indicator. It is clearly being in
10:32the overbought area. Last few times we
10:35were in the overbought area. I mean, you
10:37be the judge, but it does seem like
10:38overbought right here, rejection back
10:40down. Overbought right here, rejection
10:42back down. Overbought right here, what
10:44followed it was definitely another
10:46rejection back down. So once this
10:48indicator goes in the overbought area,
10:50it is definitely more of a bearish
10:52Bitcoin indication. Not only that, on
10:55the daily time frame, this one right
10:56here, it is curving back up. I do think
10:58that in the upcoming days we are going
11:00to see right here more of a choppy price
11:01action. However, on the daily probably
11:04we are then going to reach the
11:05overbought area, then also of course
11:07another rotation back down, and then
11:09probably Bitcoin it is going to be
11:10trading at approximately 74,000 US
11:13dollars right here hitting our main and
11:15a very important price target. Now, the
11:18first sign of weakness that we can be
11:19paying attention to it here slightly
11:21more locally is going to be once we are
11:23going to lose the value area high of the
11:25entire upper price action. So, let me go
11:28right here with another volume
11:29measurement because you will now see
11:31value area high is currently still
11:32acting as some kind of an area of
11:34support. Once Bitcoin starts closing the
11:37candles below the value area high, it is
11:39going to be a bearish Bitcoin
11:41indication. And of course, in this
11:42scenario, we are going to say, "Okay,
11:44there is now a very high probability
11:46that we are going to look right here for
11:48another push down, ideally below our
11:50recent low right here, targeting 74,000
11:53US dollar area as being our main and a
11:56very nice support level where
11:57potentially, of course, then we might
11:59fire at another long or a buying
12:01position. Please don't forget at the
12:02moment, I would definitely not look to
12:04fire any long positions right here,
12:06simply because on the daily time frame,
12:08as I was already saying in the previous
12:09videos, Bitcoin is trading at the major
12:12top of the descending channel right
12:13here. We are still at the area of
12:15resistance. If you go right here, even
12:16without the lock scale, you will see
12:18that the top of the descending channel
12:19right here is simply being respected
12:21almost exactly. But also, one other
12:23thing we can do right here, for example,
12:24let me zoom in on the 2-hour time frame,
12:26identifying another channel. I'm going
12:28to right here go with a parallel channel
12:30tool right here, connecting both of our
12:32higher lows, expanding this one toward
12:33the upside. And you will now also see
12:35the top of the ascending channel, it was
12:37hit almost exactly. Technically
12:38speaking, an ascending channel right
12:40here, this have a higher probability of
12:42breaking toward the downside, which in
12:43my opinion, of course, also it does
12:45align beautifully with our bearish
12:47Elliott wave count. Why now we are
12:48looking right here for the local fourth
12:50Elliott wave before another rotation
12:52back toward the upside. So, if you right
12:54now actually ask me, bro, would you fire
12:56a short or a sell position at the area
12:58where we are at the moment? I would have
12:59to say yes. Personally, I did go with
13:02another short trade right here on
13:03Bitcoin at approximately 79,700
13:06US dollars. And how I'm right now
13:08playing this one? Very, very simply. You
13:10go potentially right here with a short
13:12or a sell position. Stop loss or the
13:13invalidation is exactly above the high,
13:16looking for approximately 74,000 US
13:18dollars for, let us say, 2:1
13:20risk-to-reward ratio. Once Bitcoin is
13:22going to be trading at this area, of
13:24course, in this scenario then, we will
13:26look to fire a long position, looking as
13:28we said before for approximately 86,000
13:31US dollars. And this right here is
13:32currently my main plan. If Bitcoin, for
13:34example, now already does get another
13:37major pump above our recent high, of
13:39course, guess what? I will get stopped
13:41out out of my short position right here,
13:42and in this scenario, we are already
13:44going to look for our higher targets
13:46above our recent highs right here, above
13:4883,000 US dollars. But so far, so good.
13:51Bitcoin is still actually getting right
13:52here some kind of a rejection back down.
13:55I do think there is currently still a
13:56higher probability of getting a push
13:58down, hitting our main price target
14:00right here, and only then potentially
14:02getting right here another beautiful
14:04pump toward 86,000 US dollar area. And
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14:30also, right now, thank you very much for
14:31smashing up the like button.