BITCOIN: IT'S STARTING NOW...

Right now, Bitcoin is retesting one of the most important levels of the entire chart. But what makes this very interesting is that two out of the three bare market bottom indicators for Bitcoin are already starting to flash here after the super trend indicator flipped green for the first time in over 300 days. We're also seeing that the EMA ribbon is right now finally as well closed above its moving average price and historically whenever we do so this tends to be marking the Bitcoin bare market bottom. So on today's update video, I'm going to be talking about Bitcoin, its exact consolidation phase. It is still trading in the Bitcoin decision we are about to make between the bare and bull market and obviously I'm going to talk about my trade, my most important levels, what is going to be happening next for Bitcoin, my setup, and more importantly, the interesting divergence that currently is starting to play out and on how big this actual week is going to be for Bitcoin right here. So, a lot to discuss on today's update video. So, don't forget to once again slumber that like button back above 1,000 likes will be highly appreciated. And right now, we're literally two subscribers away from 221,000 subscribers. So, if you haven't already, slam up that subscriber button as well. And let me start diving in towards the content right now. I mean, I talked a lot about this exact consolidation phase on Bitcoin. And you can see that basically after we broke the downward sloping trend here on Bitcoin, we did saw a continuation towards the upside. But not such of a big continuation yet here because in my opinion also we need to confirm a break above the range high. And the moment we are going to confirm the break above that range high. That is the confirmation Bitcoin is going to be rallying all the way up towards new levels again here. But as of for now, it is just a fact that Bitcoin on that weekly time frame is running in towards one of the biggest levels of resistance. And I'm not necessarily speaking about this horizontal level of resistance, but it is clearly the 50weekly moving average. And if I'm looking at the daily time frame, you can see that every single time so far, we have retested this exact level. We've seen some major rejections from it. And actually the moment we confirmed the break below it on the weekly time frame was also the beginning of that major correction towards the downside on Bitcoin obviously. So the moment Bitcoin is going to be confirming to break above this level again here. It would literally confirm that the end of the Bitcoin bare market bottom is in here because just look at how big of an influence this level had in the bull market. It provided multiple times a lot of support here. every single time. If you did bought Bitcoin around that 50weekly moving average, you did an amazing job here. Also, in the last bare market back in 2022, the moment Bitcoin broke above it, it actually saw a big breakout towards the upside and that was of course also again the confirmation of the end of the Bitcoin bare market. I mean, I do want to say that last bare market as well, we did saw one fake out above it for about 2 weeks. We closed above it and then Bitcoin saw another big drop here. So whenever we do break above this level, I do want to see more than two weekly candle closes above it to confirm the end of the Bitcoin bare market. But historically, what you tend to see whenever we rally up towards the 50weekly moving average. In a bare market, we see a big rejection come quite instantly. And in bull markets, you can see we consolidate around this level for four to five weeks. We saw this over there. We saw this also in 2015. I need to have a chart that shows that uh in in fact here we break above it very quickly or or we consolidate around this level for 3 to 4 weeks and then just instantly break above it just like we did also in 2023. So in case Bitcoin is now going to be consolidating for quite a while here. It's going to be quite likely that you're going to be breaking above it because I don't know if you know this but there is this term and saying that has been going around for a very long time. Whenever you consolidate below resistance, you tend to be breaking through it. This is a sign of strength historically. So, Bitcoin is also, you could definitely argue, consolidating below the range high here. And this is showing a lot of signs of strength here. But obviously, we just need to see how this is exactly going to be playing out here. But already after this weekly candle close we got from last week here, we confirmed the break above the EMA ribbon, which is obviously looking quite good here. Again, we did saw a fake out above this level back in 2022. So, we need to see multiple closes above it, but really also that moment where we're going to be flipping it bullish. That is, of course, an additional confirmation that the bare market is most certainly already left behind. But this is a very lacking indicator. So, I wouldn't particularly look at this one, but it is going to be an extra confirmation that the end of the Bitcoin bare market is going to be obviously in here. And for the super trend indicator as well here, this one also flashes every single time at the end of the Bitcoin bare market. And if we're just looking back at this signal, this super trend indicator is maybe one of the most uh fastest ones to predict the end of the Bitcoin bare market because here just two weeks after the rally, it already confirmed a buy signal. Uh and of course that marked the Bitcoin bare market bottom. here also about 2 weeks after the big rally from the Bitcoin bare market and confirmed already the end of the Bitcoin bare market and again now here just about 2 to 3 weeks again after this major push towards the upside it is starting to say that we are entering a new phase in the market again here so this is obviously quite interesting to be seeing also here back in 2015 it took about 3 to 4 weeks after the signal occurred but this is definitely not a lagging indicator but maybe it flashes too soon but so far in history it has never being wrong here. So interesting signal that currently is flashing. But for me to really confirm that this is indeed the Bitcoin bare market bottom. I want to also get that last confirmation which is that break above that 50 weekly moving average. So that is definitely something I will be watching regarding my trade here. There's there's nothing I'm going to be changing here. I mean for me I'm still very excited. I'm still very bullish on Bitcoin obviously for the long term. But in case we are still going to see that move towards the downside, I've got myself covered in case Bitcoin is going to be moving lower where still my worst case bare market targets are $47,000. And that is why I still have set up multiple orders all the way down to $47,000. In order this is potentially going to be happening, which I don't think is likely, but in case this is going to be happening, I will be covering myself in here. And if you potentially want to be trading yourself here, there's an insane campaign being run right now on WEX where the first 300 people can get a VIP3 status for 30 days. And after that, a lifetime VIP2 status. That means that first of all, you're getting 0% spot fees for the first 30 days. So if you want to be accumulating Bitcoin spot, you can do it for 0% fees. 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So that is of course if you can catch the Bitcoin bare market bottom, that could be of course come in very very handy. And so far, I longed the exact Bitcoin bare market bottom. I'm very blessed with this and that is why I'm just going to continue to hold the trade open to let it obviously right here. And just like I said in the intro of today's video, I am starting to see some very interesting things playing out on Bitcoin right now. Right. So, this is also one of the reasons why I'm not particularly want to be closing out on my Bitcoin trade, especially also since there are coming in some confirmations, right? We're still waiting for the last one. But if this is the bare Bitcoin bare market bottom, it would be a shame if I'm going to be missing out on this trade and I got my cover myself covered in with these other orders, right? But what I'm currently starting to see is that on the 4hourly time frame, the funding rate is going in a negative trend here while we are seeing the price slowly consolidating upwards. That is actually a very bullish signs because that means that long positions are exiting the market. It shows that Bitcoin is holding on towards a lot of strength in the market right now. But still what I think that later this week here on the 11th of September, which is Thursday, we're going to get the big big decision here. what is going to be happening next for Bitcoin for the following month here because this Thursday we're going to get the inflation report and the inflation report whenever it's going to get released guys it's going to be having a massive influence on the market because this inflation report comes in just 4 days shy of the FOMC meeting and as of for now it is still a coin flip whether we're going to get an interest rate hike or whether we're going to remain at the same level but if the inflation comes in any hotter than expected that I would be expecting Bitcoin is going to be taking a very big dump and of course if it comes in colder than expected it could be pumping very hard since then the Fed would basically say you know what I'm not going to increase the rates but it is going to be very interesting on how this exactly is going to be playing out there I will continue to keep you guys up to date and I'm even considering streaming this since it's going to be having such a major effect on the market I'm really expecting it's going to be quite big here so that is of course exactly what I We'll be looking at also looking at the yearly Bitcoin liquidation heat map. There is clearly a sign that there is a lot of liquidity laying all the way down to $48,000, but still all the way up to $90,000. There's also a bunch of liquidity laying that we still could be grabbing out there. So, make sure to be watching both levels. Bitcoin historically always grabs the liquidity. So, don't be fooled. Bitcoin is most likely going to be grabbing it. The falling wedge pattern again playing out right now here. If I'm looking of course at Bitcoin and its resistance targets, you can see here this $81,000 US level is the big resistance where Bitcoin is basically going all the way up to. If we break this level, you can see there's not a lot of volume resistance laying between it. And that is why I'm expecting to also take a breakout rate on this exact breakout of this region. that the moment Bitcoin breaks above this high right here, I think it can start to fly all the way up to about that 86 to $87,000 level because there's not a lot of volume resistance laying between these exact two levels right here. And you can see it also over here the uh approximately $83,000 the moment we're going to be clearing that level. That is where the major major resistance is laying of course for that um 50weekly moving average. But the moment we clear that resistance, there's not a lot of resistance ahead of ourselves and we're most likely going to be pushing up very quickly. And one of the assets that in my opinion is going to be following also very quickly is definitely going to be uh Ethereum as well here. So that is exactly what I will be looking out for. This was it for me in today's update video guys. I really think by the way that you definitely should not be fading out on Ethereum. I am very bullish on it. I think the setup is looking very good here. Um, it's a multi-year consolidation phase that we've been trading in. And the moment this breaks out of the range high, I think this is going to be flying up quite quite quite quite heavily towards the upside. And I will keep you guys up to date here, but I've say been saying this from the low here in the market and uh yeah, I think most people are just going to be fading this here. So definitely don't forget to miss it out here. But um anyways guys, don't forget to subscribe to the channel. It will be highly appreciated and I see you guys on the next one. Peace out. Goodbye.