BITCOIN HOLDERS: WE ARE F*CKED...

Bitcoin in the last 24 hours has seen a major breakdown of this range. And on today's update video, I will be answering the question, is this just another fake out of this particular range we're sitting in? Or is Bitcoin destined to come back towards the 200 daily moving average just like it did at the end of the previous bare market as well? I'm going to be exactly speak about this. Also, I am currently setting up some new orders on Bitcoin, some new trades I'm taking to hedge my major Bitcoin long trade that is right now still more than a million dollars in profit. I'm going to be talking about this. I'm going to be talking about what exactly happened in the last 24 hours because the market is getting very interesting. There are a lot of opportunities starting to arise right now and I'm going to be speaking about it in today's update video. So without any further ado, don't forget to once again watch this video till the end. Slap up that like button back above 700 likes will be highly appreciated and let me jump straight away in today's update video and discuss everything because first of all in the last 24 hours we again have seen a major Bitcoin long liquidation. Approximately to be exact $1 billion in Bitcoin longs were wiped out here. And that is obviously quite insane. And we're just one day away from the 1010 anniversary, the 10th of October anniversary. And yeah, exactly a year ago, we saw one of the largest wipeouts in leverage in Bitcoin its history. And you can see it over here on the open interest chart. Right now, we're sitting significantly lower compared to the open interest back in October the 10th. And a lot of people are afraid this is going to be happening again here. But if I'm looking at the open interest in the market right now, it is significantly less here in the market. So, so most certainly something similar is not likely to happen right now, but of course could always happen in the near future. Then Bitcoin is right now rebounding on the imminent short term. And there's been one level in this particular range I have been looking at. And that has always been the $82,800 level. And for me, since I'm already in a lot of long positions, I do want to be hatching my Bitcoin long trade that I opened up on $58,000 with a small little short trade on this 82.8K level. This is of course the weekly fair value gap for Bitcoin that previously ran acted as major support for Bitcoin as well. And I mean, if we're going to come back towards this level, I'm expecting at least somewhat of a reaction from of this zone here. So, I have already set up a slight little short order. It is with significantly higher leverage, but it's because I think we're going to get a big reaction from this level. And whenever this and whenever this entry moves in profit, I'm just going to be setting my stop-loss back at entry. And that way, I will be basically have somewhat of a risk-free trade here. And the reason why I am trying to open up this trade right now here is because I have this other trade open as well here, my Bitcoin long trade, this other big trade open on Bitcoin. It is still now more than $1.2 $2 million in profit. But in order for me to secure some of the profits, it is smart to go short at major major levels of resistance where Bitcoin obviously can potentially find some resistance at here. So that is the exact strategy I'm having and the level I'm looking at is 82.8K which before I opened a lot of longs on and now potentially I'm going to be starting and now I will be looking potentially at a hedge trade. But still I am very much aware that we are sitting in this reaccumulation phase on Bitcoin and what we have also seen last time around is that fake out towards the low of the region and then actually the major push towards the upside started in a very rapid pace here. So it was a short little fake out and then Bitcoin shot towards the upside very quickly. And if you're looking at the daily time frame you can see also it is more something like this here on Bitcoin. You can see you can see it's more something like this which uh basically shows us that we're seeing something very similar play out on Bitcoin right now in terms of the range we're sitting in here. So maybe this could be playing out. Obviously we have to wait for it but just like I mentioned also in the intro of today's video and I have said this multiple times before as well on the channel in case Bitcoin is going to be doing exactly the same as 2023 is where it created that high then a low then a higher high. What are we doing right now? An high, low, higher high. Then we create a big drop towards the downside, back towards the 200 day moving average. And here, everyone was, of course, extremely afraid that Bitcoin was going to create a new low. But in my opinion, if Bitcoin would ever come towards that $72,000 US level, it would be a no-brainer to almost go like all in towards Bitcoin long positions. At least, that is what I will be personally going to be doing. I'm going to be opening up major long trades on Bitcoin from of the moment we're going to be breaking below this 74k low here. I think this would be a perfect opportunity especially between this high right here. So yeah, I truly hope it's going to be happening because that will be allowing me to open up swing trades and of course swing trades for me usually give the best return here. But for me also if I'm looking at Bitcoin, we are still sitting at some very important technical levels that could be still holding us up as support here. I mean you can clearly see it on the daily time frame. Previous resistance now still acting as support here. So we just have to watch very closely how especially this 4hourly time frame is going to be reacting towards this 82.8K level. I personally think it's going to be acting as major resistance. If we are of course basically break through this level, we could potentially break back in towards the region and that would confirm something bullish again here. So, Bitcoin is getting quite turbulent. And of course, in my opinion, it is of course very very very exciting to see this all play out on the imminent short term here. But also again, I've not just like drew up this chart yes like right now because Bitcoin touched it. If you've been watching my videos, I said if Bitcoin breaks this 82.8K 8K level. There's one level of support next here and that is this 80.2K level here. So 80.2K major support for Bitcoin exactly providing support right now as well. And guys, by the way, if you are looking to take any trades whatsoever right now, if you sign up an account using this first link below, you will get a lifetime VIP2 status on WEX. And WEX is becoming by far the best cryptocurrency exchange out there. So if you're looking to get a trading account right now k you can also get this lifetime to you will also get this free you will also get this major fee rebate by the higher VIP you will be basically benefiting from much lower fees by getting this VIP2 status by uh of course signing up account using that first link below. So if this sounds interesting for you check it out there. Also, they're giving some more things away like a free $1,500 Bitcoin airdrop position, first trade protection, and a weekly trading uh and a weekly trading loss rebate. So, if this all sounds interesting for you, check it out in that first link below. And of course, make sure to benefit from this insane campaign. And also, if you want to be staying up to date on all the trades I am taking and the trades I am looking at, don't forget to also join the Discord community. It's not only me who's sharing trading setups over there, but also multiple other professional traders. And you can just join it completely for free by going to the second or third link below in today's video description. But anyways, let me continue further in the video. I would love you to join the Discord community and speak with you there here. But yeah, Bitcoin funding rate, I mean it is coming up a little bit here again here, but it remains to be sitting around this neutral point here. So for me, it is difficult to make my pure opinion from this, but especially altcoins guys. altcoins are getting extremely shorted right now and I shared this also yesterday in the discord. I do think there going to be a lot of trades going to come up fairly soon here. Fairly soon there going to be many opportunities on coins like quant. I've been sharing a trading setup about that yesterday as well around this $175 level. I think near as well. I hope it comes down towards that $3 level and of course a potential long trade on the Trump coin. So, I'm looking at multiple trading setups right now here on multiple assets, but I'm still waiting for them to come down a little bit lower for me to be having like the riskreward worth it. But if you want to be staying up to date on all those trades, just join the Discord community. Anyways, guys, this is it for me in today's update video. If you'd learned something from this video, don't forget to subscribe to the channel and see you guys on the next one. Peace out. Goodbye.