BITCOIN: Huge move coming soon.... [Watch Out]

Bitcoin Technical Analysis

In this video, the speaker provides technical analysis of Bitcoin's price movements on different time frames. They discuss potential bullish and bearish patterns and provide their personal take profit targets.

Potential Double Top Scenario

• On the 4-hourly chart, Bitcoin was forming a potential double top scenario.

• The speaker gave both bearish and bullish targets for this pattern.

• The first take profit mentioned was at 28.15K, which coincided with the 0.32 Fibonacci line that provided good support.

Bullish Flag Formation

• On the hourly chart, Bitcoin could potentially be forming a bull flag after bouncing from the support level mentioned earlier.

• The speaker advises caution as there is still a possibility of a break towards the downside.

• If the bullish flag formation is confirmed, it would be super awesome to see as it indicates an upward trend in price.

Daily Chart Bull Flag Formation

• On a higher time frame (daily chart), Bitcoin is forming a bull flag which is even more accurate for technical analysis.

• A bullish confirmation will only be made if Bitcoin gets above 29.1K.

• This level of resistance has acted as tremendous support in previous cycles but now acts as resistance.

Personal Trading Strategy

• The speaker personally plans to open a long position if Bitcoin gets slightly above the previous swing high and ride it to 32K.

• However, they advise waiting until there is big volume before opening any positions and always coming to your own conclusions while trading.

Bitcoin Update: Critical Levels to Watch

In this video, the speaker discusses critical levels to watch for Bitcoin and provides updates on the current market situation. The speaker also mentions news about the United States planning to sell 41,500 Bitcoins in the market.

Key Levels to Watch

• If Bitcoin breaks towards the downside from a pattern shown at the beginning of the video, then next bearish targets would be:

• Support of flag at 26.6K

• Range between 24.2K to 25.2K level

• On weekly charts, continuation channels resistance is important support at 24.4K.

• Speaker suggests using conditional orders for trading and taking profits.

News Update

• The United States is planning on selling 41,500 Bitcoins in four shots which translates around $1.2 billion dollars in Bitcoin.

• If they decide to announce when they're going to sell it or when they do sell it then Bitcoin could see a retracement back towards the downside in price.

Market Updates

• Currently, we're in an ascending triangle for S&P and if we can break above this ascending triangle resistance then that could take S&P to 4.3 which is positively impacting Bitcoin markets.

• Speaker is looking out for what will happen in FOMC meeting soon as it will impact interest rates and economy recovery which will impact Bitcoin prices.

Overall, speaker advises viewers to stay tuned for breaking news updates by subscribing and turning on notification bell as there are many things happening in crypto markets currently.