BITCOIN: THE END!!!!!!!! [crazy]

Is This the End for Bitcoin?

In this video, the speaker discusses the current state of Bitcoin and whether it is the end for Bitcoin. The speaker talks about their multi-million US dollar long position and what they plan to do with it. They also analyze the charts and discuss potential price targets.

Bearish Flip on Daily Ribbon

• The daily ribbon has flipped bearish, which has not happened since April last year.

• Every time a bearish flip occurs on Bitcoin, there is a significant movement towards the downside.

• However, the speaker does not think that Bitcoin will see price levels below $20,000 or break below the previous low of $19,500.

• The Fibonacci retracement from top to bottom suggests that the most likely price target to be reached is around $24,000.

Potential Price Targets

• The speaker's bullish prediction is for a price target of $46,000 to $48,000 USD.

• The bearish prediction does not conflict with this price target.

• The golden pocket at 61.8% Fibonacci retracement level is around $24,000 USD.

Conclusion

• Overall, while there are some bearish indicators in the charts, the speaker remains optimistic about Bitcoin's future and does not believe it is the end for Bitcoin.

Bitcoin Potential Breakout in June

In this section, the speaker discusses the potential for a breakout in Bitcoin in June and provides insights into why he believes this is possible.

Cup and Handle Pattern

• The cup and handle pattern is still valid as long as Bitcoin does not go below 24.

• A potential beautiful break within June towards the upside could happen, potentially breaking in summer.

Resistance and Support

• Building strong support throughout certain areas has led to very strong resistance.

• The bullish scenario is not invalidated yet, so the speaker is not planning to scale out of his trades.

Trading Advice

• This is a moment where traders need to be careful and wait for a breakout before opening trades.

• Don't rush into trades just because someone tells you or you feel like trading or gambling.

Overall, the speaker believes that there is potential for a breakout in Bitcoin in June, but traders should exercise caution and wait for confirmation before opening any new trades.