BITCOIN: SOMETHING BIG IS ABOUT TO HAPPEN...

Something very interesting is currently happening to Bitcoin because after this major dump towards the downside, we saw negative funding rates with open interest significantly decreasing towards the downside. And on today's update video, I will be exactly explain what this means for Bitcoin next year. I'm going to be obviously talk about the imminent short-term bearish divergence we're currently seeing. This exact consolidation phase Bitcoin is currently trading in and more importantly the upcoming weekly close that is going to be happening tomorrow because this weekly candle close for Bitcoin could be giving us approximately a 50% confirmation already that the Bitcoin bare market bottom is going to be in. So, a lot to discuss on today's update video. I'm going to talk about my major Bitcoin trading setup and so much more on today's update video. So, without any further ado here, don't forget to once again stop on that like button back above 900 likes. It will be highly appreciated. Don't forget to also subscribe to the channel because we're extremely close by hitting 221,000 subscribers. And let me jump straight away into today's update video. So, first of all, Bitcoin on the imminent short term is creating somewhat of a bearish divergence. We can see that the 4hourly RSI has created a lower high while the price on Bitcoin still created an higher high. And this means that indeed momentum is losing right now here while the price continues to be going up. And in my opinion, it doesn't necessarily mean something bad for Bitcoin, but it means that we're currently seeing a reset in the market right now. We are entering clearly after this major run towards the upside. We're entering a new phase of consolidation. And you can clearly also see it as well here. Bitcoin also consolidated for about 77 days around this $65,000 to about $58,000 region and now we're entering this new region between $74,000 and approximately $82,000. And the moment we're basically going to be breaking outside of this range again, whether it's going to be above the top side or below the lower side, that is where the next major spike is going to be happening on Bitcoin. And while we're sitting in this consolidation phase, I started to see something very interesting because last Thursday, Bitcoin pushed towards the upside. And then after we got the job reports on Friday, we saw a big shunt towards the downside. And actually, after this big dump towards the downside on Bitcoin, we started to see something very interesting and that is that the funding rates went negative on this exact move towards the downside. And what does this mean? This means clearly while we have seen of course a fing going negative and the open interest going out here, leverage has been exiting the system, Bitcoin has been holding steadily above $79,000 and that means that we're seeing a very healthy reset on Bitcoin right now here because leverage exited the market and Bitcoin is holding up very strong and we saw even briefly that fing rates went negative and that means that a lot of the leverage that exited the market was particular long positions on Bitcoin right here. So, in my opinion, it is looking quite healthy and we're just seeing a major reset after we had this major push towards the upside. And the moment Bitcoin is going to be breaking outside of the range, we're going to see the next major move come on for Bitcoin here. And in my opinion as well here, we are indeed retesting one of the most important levels of resistance of this entire consolidation phase here. And you can clearly see it already on a couple weekly on some of the indicators I've been looking at on the most recent weeks here and on the indicators that I've been calling about that would be potentially confirm the end of the Bitcoin bare market. They are now starting to flip these signals that were most likely going to be breaking above the EMA ribbon here for the Bitcoin weekly time frame. And I said this already on many videos before. For me, I want to see two to three weekly candle closes for Bitcoin above this high right here. And if that tends to be happening, then I would say this is the end of the Bitcoin bare market and we're going to be seeing alltime highs very quickly. But why now? But right now, like you can see, not all the indicators have positively flipped yet here. I mean, we can start to see that the super trend indicator is most likely going to be flipping green here. But the 50-weekly moving average, which historically had had a very important which which historically is the most important indicator that the end of the Bitcoin bare market is going to be in here, has not flashed here. Has not flashed yet. Here you can even see on this chart right here, we're just getting exactly rejected by this 50weekly moving average. And for me again also with this one, I need to see at least two to three weekly candle closes above this level to confirm that we're seeing a breakout because we have seen a fake out before as well like here back in 2022 where we closed the weekly candle above it. Everyone thought we were going to see another push towards the upside. Well, in fact, that was a major fake out and Bitcoin saw a big drop towards the downside. But the moment we close two to three weekly candle closes above it, I would say this, I would say this is going to be a confirmation of the end of the Bitcoin bare market. So this is exactly what I will continue to look at. I mean for Bitcoin right now if we're looking at a multi-week time frame here we're seeing that the the volatility on Bitcoin is again coming back towards this historical low here after we've been basically already time goes by very quickly been consolidating for over 16 days in this very small region for Bitcoin. So Bitcoin is again entering a new consolidation phase. Volatility is again dropping to very close to be an all-time low again for Bitcoin. And yes, you know what always happens whenever we come to a such a low level of volatility, a major spike happens on Bitcoin. Usually after these extreme periods of low volatility in the market, usually a major volatile period after that tends to be happening for Bitcoin. So that of course excites me a lot here. Then regarding my Bitcoin trade here, here you can see somewhat of my setup I'm taking here because I've been going long on Bitcoin on $58,000. And I always said I personally think the Bitcoin bottom is going to be in between $58,000 and $47,000. Well, my first order so far has been exactly spot on here. And I have said also in all my videos before that I think it's a smart idea to do dollar cost averaging. But in order to open up such a major leverage long position, you don't want to go in all all in at once here. So that is why I split up my orders, got my first entry in on $58,000 and still have my multiple orders set up here in case Bitcoin does see a move towards the downside. And to be honest, guys, make sure to just go back to my channel back in June what I said exactly about this trade here. I said I think the Bitcoin bare market bottom is going to be between $58,000 and $47,000. And that is why I've currently got the exact entry on the exact Bitcoin low right here because I have got a very good risk-to-reward setup in in order to position myself very well here. And if I'm going to be looking at my targets that I have set up for this trade here, I personally think Bitcoin can run it all the way up to about $200,000 here. And that would be a tremendous risk-to-reward setup of about 250% upside with a very small loss that I potentially risk here of about 20% here, which is obviously quite insane if you would ask me here. And that is why trades on the bare market low are absolutely insane. And that is why I'm also not planning to close this trade anytime soon here despite the fact that I'm already in $1.1 million in profit right now here. And if you want to be trading yourself right now as well on spot or with leverage, there is an insane campaign being run right now, which is only editable for the first 300 users only, you can currently get 0% spot fees for your first 30 days and also a lifetime VIP to status if you right now sign up an account using that first link below to WEX right now here. 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And if my target of $200,000 in the upcoming Bitcoin bull run is going to be hit here, I'm going to be making over $7 million from one single trade here, which is obviously quite insane if you would ask me here. So, I'm going to continue to hold the trade open. I'm going to be monitor, of course, Bitcoin if it were to be seeing another move towards the downside. Of course, I already make my game plan. So, for me, there's nothing to worry about. But in case that happens, I'm still going to be entering bigger positions on the lower side. In case that doesn't happen, I'm just going to be riding the straight out all the way up to about $200,000 for Bitcoin. And I mean on the imminent short term we are seeing that there is of course a chance that Bitcoin still moves towards the downside since there is still a lot of liquidity laying below us but of course that remains to be always the risk in these markets where we're currently sitting in. And I mean for me also if I'm looking at Ethereum I do want to be opening up a trade on Ethereum as well here. I haven't done so yet here. And currently I am looking at this exact consolidation phase right here. And in my opinion, the moment we're going to be breaking above this range high right here, then we're going to be probably see another explosive move towards the upside. And just like I said in multiple videos before as well, I believe that Ethereum is probably going to be one of the outperformers in this upcoming cycle. So, I definitely definitely don't want to be missing out on a position. I'm going to be I will be monitoring this level and the moment we're breaking above this range high, I'm probably going to be taking a breakout trade over here whenever I do see the confirmation or potentially a retest on this level right here. So, I'm going to obviously keep you guys up to date in my Discord community where I sometimes drop my trades I'm currently taking. But anyways, this was it for me in today's update video. If you did enjoy it, learn something from this Sunday video, don't forget to subscribe to the channel. We're about to hit 221,000 subscribers, which is insane. Road to a million. And see you guys on the next one. Peace out. Goodbye.