BITCOIN: SOMETHING BIG IS ABOUT TO HAPPEN...

Bitcoin is seeing another big push towards the downside. And like I have said in many videos before, still I expect Bitcoin is going to grab this lower side liquidity that we're currently building up. And since right now there is another escalation happening in the Middle East. This could be happening. And also within the next 24 hours we will be having the US midterm elections which looks to be going the way for the Democrats. And for sure this is going to cause a lot of volatility for Bitcoin in the upcoming 24 to 48 hours. So on today's update video, I'm going to discuss the biggest news we currently are having in the market. I'm gonna go over all the most important charts on Bitcoin. I am currently looking at the most important levels of support I would currently view as and of course this current exact range we're still sitting in and what my expectations are next for Bitcoin. Even though we're now retesting this Bitcoin bull market support band. So, a lot to discuss on today's update video. I'm going to go over all of it right now. So without any further ado, don't forget to straight away set with that like button back above 800 likes. That will be highly appreciated. And let me jump straight away first of all into the biggest news we got in the last 24 hours. So actually just a few hours ago, the Tedar CEO stated that the company Tedar is owning approximately 150,000 Bitcoin worth over 11 billion. That is quite a big statement. And even though he said this, Bitcoin still came down here. So this is actually quite bullish news, but still Bitcoin reacts bearish to bullish news. And usually whenever these things happen, it shows a lot of weakness in the market. And that is why I would say still Bitcoin is most likely going to go a little bit deeper. And for me, I am looking at a few levels here in the market right now. You've got the spring point over here, the big support and liquidity zone over here where basically in the previous time while we were consolidating, this was exactly where Bitcoin grabbed the liquidity. Right? So I have said this already in many videos before already. What I'm expecting Bitcoin is going to do. It is of course currently sitting in this bigger range here between $75,000 and $87,000. I expect Bitcoin is going to grab the liquidity. Everyone thinks Bitcoin is going to be breaking down. A lot of shorts are going to be getting opened up over there and then we retest the 200 day moving average and this is where the big support for Bitcoin is going to be found here. So I personally think the Bitcoin bare market bottom is already in. So that is why I'm looking at one big level where I am expecting support is going to be found and around this level I'm going to be loading up on a major Bitcoin long swing trade. So this is exactly my strategy and I currently think there is definitely a possibility Bitcoin is still going to come towards this level especially since right now we're just literally 24 hours out before the US midterm elections are going to be happening and it looks to be it's going to be swinging the way towards the Democrats at least for the House. The Senate is still quite uncertain, but it still also looks to go due to the way, but also this has about a 65% chance the Democrats are going to win. And yeah, basically what also happened just two hours ago that again there were strikes on Iran's Kusen Island, their basically their military island. So yeah, hopefully there's not going to be any escalation whatsoever. But it is of course interesting that this is exactly happening just a few hours before the US midterm elections basically get started which is quite insane if you would ask me here. Then Bitcoin is still finding support on this downward sloping support line which we seem to be bouncing from every single time whenever we retest it. So that is actually still so far very good. And yeah, if I'm still looking at Bitcoin, this is the consolidation phase. And what you see 90% of the times here is that you grab liquidity before you move back here. So I'm still expecting Bitcoin is going to go a little bit deeper before it goes higher again here. If I am looking at the Bitcoin will order chart, I am currently seeing there are a bunch of orders lining up all the way towards the downside. Well, there's only a sell wall sitting around that $78,000 US level right now. And above that, there are not a lot of sell orders for Bitcoin uh really piling up. And if I'm looking at the liquidation heat map, you can see yes, we're building up some liquidity towards that $75,000 US level. So, I would still expect we're going to be grabbing that liquidity, but outside of that, there's not a lot of liquidity laying below us for Bitcoin. And if I'm looking where the majority of the liquidity is being built up, it is most certainly around 82 to $83,000 level. So, I'm still expecting there's going to be a big squeeze towards the upside. The question is when is it going to be happening? And also, what I do think is that we first need to be grabbing this lower side liquidity before we grab that top side liquidity. And really, for my swing trade on Bitcoin that I opened up on $58,000, I am not worried whatsoever what I'm going to be doing with this trade here. One thing I have said numerous times before, whenever Bitcoin comes back here towards that zone, I'm going to be opening up a new swing trade, but only if it comes to there. H I'm not going to add to this exact position since this was a trade that I opened up on copy trading. And I don't want to be screwing up the perfect entry we've got on this trade. So, I'm going to be opening up a new trade. But, of course, if you just subscribe to the channel, if you join my Discord community, you're definitely not going to be missing out on any of this. And at the same time while we are seeing Bitcoin coming down here, funding [snorts] rate is coming down also quite rapidly. And we have seen that over the last period here especially while Bitcoin has been going down here. We've seen the open interest being built up quite aggressively. And to be exact, it's been approximately 20% up here. And usually if I'm going to be zooming out for example to the uh daily time frame and if I'm going to be zooming out here you can see usually whenever the open interest is coming to such an high level we tend to see big squeezes in the market. So this is also what I'm expecting. There's most likely going to be a big squeeze happening again here. The last time we saw a big squeeze here in open interest was this big short squeeze towards the upside. And something similar could be again happening for Bitcoin, especially since so many people are so extremely bearish on Bitcoin right now. I have said already on Ethereum, I called it on the bottom that everyone was shorting it. Then we saw the squeeze towards the upside. Now it's been reversed ever so slightly. You can see all the shorts are basically closed out in the market. So on Ethereum, I'm not seeing anything very special right now. But of course, if you want to be of course opening up any new trades or whatsoever, the best place to do so is definitely on the WEX exchange. And if you go to the first link in today's video description, you will come to this page where you can currently get a 30-day VIP free experience, which means that you're getting going to get 35% fee rebate. 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Then, Bitcoin while it is currently decreasing, it is again coming back towards the bull market support band. And for the ones that don't know this, in a bare market, the resistance is basically the green line. So this is what in a bare market is the resistance. And whenever you break above the bull market support band, this red line that is the support for Bitcoin. So yeah, Bitcoin has now only bounced from the bare market support basically uh sorry bare market resistance, but still the big support is sitting around $73,000 US which is also exactly coming together with approximately the 200 daily moving average where I also personally think a big amount of support for Bitcoin is going to get found on the 4 time frame. It's not confirmed whatsoever, but we could be looking at creating somewhat of an uh Bitcoin bullish divergence. It is not confirmed yet here, but we are creating an higher low so far on the RSI, but whenever this is going to get confirmed, I will let you know on Twitter or in the Discord community, but so far it is not confirmed whatsoever. And still, I am viewing this Bitcoin level where we're currently sitting at. If I'm zooming in here and I'm going to be closing out the volume range profile um as a very important weekly level because this is the weekly spring point on Bitcoin, this is of course also viewed as major support for Bitcoin to hold on towards. So yeah, this is the spring point. This is where big support needs to be found on Bitcoin. And also, yeah, if I'm looking at Ethereum, so far, it's been holding up towards that weekly fair value gap. But, uh, besides that fact of the weekly fair value gap, where I'm looking at on Ethereum is, of course, if it does come down lower, I would be viewing this as my major next level support, $800, I don't think it's a quite realistic target. Uh, the weekly fair value gap. If we can get a re-entry around that level, it would be very good to fill up that basically that big wick we got. But still looking at Ethereum against BTC on a weekly time frame, it is bouncing exactly from of this weekly upwards trend line. And that is of course exactly where basically I would view Ethereum as the best buying opportunity. So yeah, it found some resistance in this upward sloping trend here. But I do believe Ethereum is going to continue this upward sloping movement and I think this is really one of the more better times to be adding on Ethereum. So this is exactly my view on the market right now. If you did enjoy it, don't forget to subscribe to the channel. That would be highly appreciated and see you guys on the next one. Peace out. Goodbye.