Transcription
Yo, welcome everyone. In the next 24 hours, Bitcoin will probably get another significant move. Get ready and watch out for the two major and very important price targets. Let me show you.
For the entire weekend, Bitcoin has been trading approximately at the point of control or the biggest volume cluster of the entire bottom price action. The red line is right now landing at approximately 111.2,000 US area and for the past couple of hours we are really trying to get some kind of a breakout towards the upside. So what we can right to say if Bitcoin actually does continue higher we can still as right now talk about a bigger inverse head and shoulders pattern. We got our left shoulder right here. We got our head and also right now if Bitcoin does already continue higher we can then say okay right shoulder was successfully formed and we can be looking for much higher price targets.
The price target of our inverse head and shoulders pattern can also be very simply measured. We are going to go from our head towards our neckline putting the trend line on the potential breakout. And you're right now going to see the price target of the major inverse head and shoulders pattern is going to land at 119.5,000 US. And this specific price target is really not a random level. We can write here also identify a liquidity level that is aligning clearly perfectly with the price target of our pattern. What we can right now say if the inverse head and shoulders pattern is right now actually forming on Bitcoin and of course our right shoulder is right now in this right here is definitely going to be our next major price target. That is why I do remain in my long position on Bitcoin in a long position on XRP and also in a long position on SUI.
But the reality right now is as of right now, we still do have a major area of resistance for Bitcoin to break through before we can actually be talking our major price target. Remember something I posted about yesterday on Twitter 16 hours ago. I was talking about that yes, Bitcoin liquidations are just above the recent high. That is going to be a bullish Bitcoin indication. Why so? because usually we want to react the most amount of people in the shortest amount of time before we can then actually get some kind of a reversal back towards downside. So that is right now why if Bitcoin does continue higher and we actually hit our neckline right here because it's going to be such a significant area of resistance with our liquidation levels right here and of course also with our major gold and fibonage ratio. No way. We are looking for another long position at this specific area. To be honest right now, even though it is an inverse head and shoulders pattern, I would potentially maybe even fire another short position right here. Why so? Because usually we want to go with a short position at the area of resistance and with a long position at the area of support. That is of course how I was able to enter this specific long position on Bitcoin on XRP and also on SUI by longing at the area of support. I really do not feel comfortable longing the area of resistance even though right now I do know potentially our inverse head and shoulders pattern is right now going to play out.
So yes, if we break our major area of resistance towards the upside, happy days for Bitcoin, we are going to be looking for higher targets. Is this level right here a good level where we can be looking for a long? Definitely not a good idea simply because we are not looking to go with a buy position exactly at the area of support. That is why later in the video I am going to share with you the exact level where you can actually look to enter another long or buy position on the Bitcoin chart itself. And that is also right now why I would really appreciate for you to smash up the like button because 1.2,000 likes are really possible. And also only for today, I am still going to accept new users in my free VIP Discord group. Click this specific link down below in the description and make sure you join our group because tomorrow I am going to close it.
Right now, let me also talk about our Akler stoastic CG oscillator on the daily time frame because as of right now, what you're going to see it really does look like we are at the moment still trading approximately at the overbought area. This specific indicator right now, yes, actually has started curving towards the downside. But the reality right now is zooming out on the weekly time frame, we are at the moment already in the oversold area. So ideally, yes, this right here is right now already a bullish Bitcoin indication. But again, because we trade from level to level, I am not going to say to you right now that we can already expect much higher price targets because the first major area of resistance right here, $113.8,000 is still not broken towards the upside. So that is right now why if our ethler stoastic CG oscillator is going to be able to get some kind of a push towards upside and then of course ideally bitcoin does follow also get some kind of a reaction back down only in that case I would be looking to enter another long or buy position.
So what we can right to do on the 4hourly or actually no on the 1 hourly time frame we can write to say Bitcoin for the past couple of days simply has been trading in some kind of a horizontal range connecting our highs expanding this one towards upside. Look right now how nicely the mid level of our horizontal range has been respected. Very nice area of resistance. Very nice area of support. Another resistance. Another support area right here. So I would say like that the best long positions are always offered to us exactly at the bottom of our horizontal range. So where is right going to be the bottom of the range? Exactly this specific area at $109.3,000. Additionally, what we can right now do measuring the entire bottom price action with the volume and you're right now going to notice value area low is landing exactly at the bottom of the range which also right now means if we do get another push down not only we are going to hit up our volume level. Not only we are going to hit the bottom of the horizontal range but also we are going to be trading exactly at the recent low which right now means liquidity on the chart can be taken. People that are right now already holding their long positions, guess where they are setting their stop losses? Exactly below the recent low. Potentially, we stop them out. You need to monitor the reaction right here because Bitcoin really does need to get some kind of a push towards the upside and only then we can be looking to enter another long or buy position on the Bitcoin chart itself.
Do not get me wrong. Yes, we can continue higher. That is why yes, I do remain in my long positions right here. But of course, if you right now ask me, if Bitcoin does continue higher and we are going to be trading at the neckline of our inverse handholds pattern, because it's a major area of resistance, of course, right here, I am not looking for long positions, only potentially some kind of a short position. But for a long position, sure, we can be looking to buy low at the area of support if the opportunity is actually going to be offered to us.
Now, paying attention also to the area where we are as of right now because yes, if we go right now with our gold Fibonacci ratio from our swing high back towards the swing low, it really does look like Bitcoin is potentially right now getting some kind of a rejection at the gold Fibonacci ratio. Yes, we got some kind of a very small front run of our gold pocket right here. But nevertheless, it also does look like locally speaking, we are at some kind of a very important level on the Bitcoin chart itself. So let's see right now if potentially we do get some kind of a push down hit maybe even our major and a very important support area and then we are going to go from there. Why I do really like this specific support level simply because the invalidation is very very clear and very very simple. if we are going to be breaking our support level right here, we can be setting a stop-loss below the support area because of course if we break it bearish indication of Bitcoin, we are going to look for much lower price targets. But as of right now, the support is still support until proven otherwise. But the only question as of right now is is the level actually going to be hit? And if we do hit this specific liquidity level for sure, we can then also be looking for another long position on Ethereum itself. Because right now on Ethereum, we still haven't hit our liquidity level at $4.2,000. And also another liquidity level right here is still intact. That is why not only on Bitcoin, but also on Ethereum. Ideally, I still want to get another push down because both of those cryptocurrencies do have beautiful liquidity levels, just slightly lower.
However, if we do continue higher, the next level you should really be aware of right here is going to be 113.6,000 $6,000 because simply it is going to be a major area of resistance. That is right now why if you want to trade with us, take an advantage of the free $8,000 bonus without KYC and without VPN with the second link down below in the description. Bit Ununix Exchange is as of right now giving to you a 20% deposit bonus. And to the first 100 users, you're also going to get 10 USDT completely for free after you open up your first trade. take advantage of the free bonuses using the sack link down below after you register and after initial deposit because the campaign is valid only for the next couple of days.
Right now, let me also talk about the market structure on the 2hourly and also on the 4hour time frame. The reality right now is market structure on Bitcoin remains bearish. Why so? Because as of right now, we are still forming lower highs and also lower lows. going right now with the path tool right here. You're going to see we got a push down lower high lower low high lower low and also right here. This right there can still be another lower high before Bitcoin does continue its trend straight towards downside. But the thing is I am definitely going to get more bullish in Bitcoin once potentially we are right now going to get another push up above our major area of resistance. Why so? because yes, we are then also going to be trading above the major value area low. $113.3,000 is right now literally once again the biggest area of resistance on the entire Bitcoin chart. So if we are able to get a push toward the upside above this specific level, major bullish Bitcoin indication because also a major area of resistance is going to be broken. In that case, once again, we are paying attention to the price target of the inverse handsh pattern. Happy days for Bitcoin and our long positions probably are going to print even more profits. But as of right now, once again, we are not above the level market structure on the 4hour time frame remains bearish. And also going right now with our exponential moving averages on the 4hourly and also on the 2-hour time frame, it still looks like we are moving in an average downtrend. right now being slightly more careful it is still very very important simply because the trend is towards the downside and also we are not able to break just yet our major area of resistance towards the upside. So for now slightly more patience is definitely recommended.
Now additionally what if Bitcoin does not continue higher and we are maybe even going to get another major dump towards upside. But if right now our support level right here, the value area low is maybe even going to get broken. And of course, in that case, we are going to get stopped out on our long positions. In that case, of course, we should be aware of much lower price targets. The first price target I would definitely be aware of is going to be our recent low right here at $107.2,000. Not only because it's the recent low for liquidity purposes, but also pay attention right now to major liquidations below the recent lows. They're also going to be right here at 106 or actually $107,000 where 245 million of longs are going to get wrecked. So, our support levels even if Bitcoin does continue higher are also very nicely defined. The first price target 107.2. The second price target is then going to be another very important liquidity level at $104.7,000 IAN.
So right now pretty much you do not have to guess in which direction Bitcoin is going to go because simply Bitcoin is going to show us the next direction. If we are going to be able to break our major area of resistance right here, reclaim the value area low, happy days for Bitcoin. We are looking for higher. But on the other hand, if we do get right now a push down this specific area, we can be looking for another long query buy position with a clear invalidation level exactly below the area of support because if broken, we also then know our lower price targets in that case are also going to be slightly more likely. That is right. Why? If you want to trade with us, take an advantage of the free bonus no KYC and noVPN with a sack link down below after you register and after initial deposit. Also, if you want to join my free VIP Discord group, click this specific link because I am going to close the group literally tomorrow.