BITCOIN TRADERS: IT IS HAPPENING...

Bitcoin is now bouncing back towards the middle side of the range while we are in one of the most important weeks for crypto because today we will be having the Fed interest rate decision. Next week we will be having the US midterms election and all of this will for sure cause a lot of volatility while Bitcoin now is creating an hidden bullish divergence on the daily time frame while we're sitting at one of the most important weekly fair value gaps on Bitcoin. So on today's update video, I'm going to be explaining how I'm approaching Bitcoin right here. The resistance which we are now retesting on Bitcoin and of course so much more important charts that are telling us something about where the liquidity is laying where most likely Bitcoin is going to go towards on the imminent short term and so much more will be getting discussed including my big Bitcoin trades I am currently taking here. So without any further ado, don't forget to straight away slap on that like button back above 700 likes. that will be of course highly appreciated and let me jump straight away in today's update video. So, first of all, today we will be having the Fed interest rate decision. And this probably is not going to be really shaking up the markets since it is already priced in. the Fed chair press conference could shake up the markets because all the things he's going to be stating in this press conference are going to be critical for the market to think because of course if we're looking at oil prices they're still sitting extremely high and this could be extremely inflationary and that is why I'm expecting some very important things will be said on that then of course as well we do know there were only a few days out here before the US midterm elections and if we're looking back at any historical chart We do know that usually around the midterm elections, we see massive volatility and actually for the last three times we had the midterm elections, we always saw Bitcoin take a very big dump towards the down. Will it happen again? That remains to be the question. What I am currently seeing on Bitcoin, if I'm purely looking at the charts, is of course still this $79,000 level is where the weekly fair value gap is lining up for Bitcoin. And I would still say that this is one of the strongest levels of support for Bitcoin. If we're going to be speaking about somewhat of a skull position on Bitcoin as well, then at the same time, we're creating a hidden bullish divergence. That means that Bitcoin is creating an higher low on the daily time frame. Well, the RSI is printing a lower low. And basically, what this signal tells us is that sell pressure has intensified, but still Bitcoin is creating an higher low. So that is what you can call an hidden bullish divergence and is generally speaking quite bullish if Bitcoin can of course right now create a low and especially hold on towards that $79,000 US level. And I mean if I'm looking at the Bitcoin liquidation heat map, some of the top side liquidity has been faded away here. But still what I'm currently seeing is that there is a bunch of liquidity being built up around that $79,000 level. Exactly that level on the Bitcoin weekly fair value gap. I mean the level what I'm looking at is basically the middle point of this weekly candle right here. I would be expecting that still it is going to be likely that Bitcoin is going to be touching it. And of course also due to the fact that we are seeing that there is a bunch of liquidity now being built up exactly around this level right here. So I wouldn't be surprised if Bitcoin is going to be grabbing it. And if we do then it's going to be obviously a major opportunity for all of us in the market as well. And if I go to some higher time frames on the funding rates, open interest chart on Bitcoin and really do a more broader view on Bitcoin, you can see that in the most recent period, we have seen an ever so slight trend towards the upside on the funding rates while Bitcoin have sit or somewhat neutral in the market. And at the same time, we are seeing that the open interest also has been going up here. And generally speaking, this means that we're seeing a lot of long positions being built up in the market. And usually in my opinion, out of my experience, that leads towards somewhat of a shakeout towards the downside. How deep this shakeout needs to be, I'm not very sure of, but usually this leads towards an a shakeout needed before Bitcoin to go higher because yeah, they don't want to give everyone great entries on of course all their long positions. So maybe it's going to be $79,000. Maybe it's going to be 78K just exactly below that liquidity zone right there. But for sure, this is one of the things I'm currently seeing on the bigger perspective on Bitcoin. If I'm looking at where the major will orders are currently piling up, we've got $78,000 where a big amount of limit orders are set up on Bitcoin. And then below that, there's not a lot until $75,000. So really, that $78,000 is going to be a big level for Bitcoin to hold on towards as support. If we break below it, there's going to be not a lot of support until we're going to hit that $72,000 level. So definitely interesting to be watching. Of course, also on the top side, if Bitcoin does decide to make a move towards the upside, where I'm going to be seeing a lot of resistance piling up here is going to be between 82.2K all the way up to about 82.6K. This is where the majority of resistance is currently piling up for Bitcoin. And regarding to my trade, I mean, I'm saying that yes, there could be potentially a shakeout on Bitcoin, but really for this trade right here, I'm totally not worried for Bitcoin to come down ever so slightly because this is a swing trade position. I still believe if I'm looking at Bitcoin that this is of course not really a distribution what we're looking at. I mean what we're seeing over here in this consolidation phase. Yes, maybe Bitcoin still comes towards the downset of the reaccumulation phase. But ultimately here on the top side this has never been a distribution. This is an broader and bigger reaccumulation pattern. And I do believe that there's going to be a matter of time before Bitcoin is going to again go back towards the top side of the region. So I'm still accumulating on spot in this region and of course also I am actually a big believer that of course as Bitcoin is now going to come closer towards the uh US midterm elections. We also know that there are many other great indicators that tell us where historically Bitcoin bottoms are formed. For example, the 500 days before and after halings on Bitcoin. If you're looking on the weekly time frame, you do know that usually 500 days after the haling is where Bitcoin usually tops and 500 days approximately before the haling is where Bitcoin bottoms. And you know where the 500 day before the Bitcoin halting is that is also in November. Where is the midterm elections? Also in November. So basically we're coming very close towards a point that no one can really flip bearish anymore on Bitcoin. And this usually happens after the bare market year is over and a complete shift of sentiment happens. Everyone is going to be basically not sell their Bitcoin anymore. Everyone is going to be holding it and then you get such a trend that Bitcoin only goes towards the upside. So this trend is actually very close because people still believe in the Bitcoin 4-year cycle. People believe that Bitcoin uh is going to go up after the midterm elections. So that is actually going to be causing Bitcoin to go much higher. So I also do believe that we are right now in a great timing in the market and as we're going to come closer and closer towards the end of the year, I would be personally what I am currently doing accumulate more aggressively in towards my Bitcoin positions because it's going to be more likely that the bottom which I already think is in but is for sure going to be in for Bitcoin. And also guys, if you maybe want to be trading yourself, there is an insane campaign being run on WEX. That is the exchange where I take my swing trades on. But this is by far the best exchange that you can use in this upcoming crypto cycle because right now, first of all, they're offering a 30-day VIP3 uh status, which means that you're going to get like a 35% fee rebate. But on top of that, as well, guys, and they're giving away an insane deposit and trade campaign where you can get free $1,500 to trade with and so much more here. So, check it out in the first link below. And if you're maybe a major will trader, so you're trading with a lot of volume, if you go now to the third or fourth link in today's video description or just join our Discord community, you can select the exchange you're currently trading on, you can select your fee and me and my team are going to be making sure that everyone is going to be trading on lower fees and in the end of the day that's going to be helping you to save a lot of money for the upcoming cycle. So, if you are interested in this as well, don't forget to also join the Discord community or just go to the link in the uh second or third link below in today's video description. But in general, also in the Discord community, I'm sharing a lot of trading setups. So, if you want to be staying up to date on all these trading setups as well, don't forget to join the Discord as well. But now, let me continue further in this video and discuss a little bit more about what Bitcoin is going to be doing most likely next year. I mean, still, if we were to come down towards the 200 daily moving average, it's quite far away from of this point. I'm very much aware about that. But if Bitcoin were to come back towards this exact level right here, this would be a great opportunity to basically load up on even bigger positions on Bitcoin. Super excited for that. Obviously here sitting around $73,000. Then if I'm looking at of course the VPVR on Bitcoin, then you can see basically where the big support if we are really going to see a move towards the downside is going to be 77,000 to about $76,000. And if we fail that level, it's going to be very clear. It's going to be $72,000 where basically the biggest support out of the entire history of Bitcoin is going to be found here. So then we're going to be seeing something like this and then of course a bounce from off that level. But I still think that would be a little bit more of an unrealistic scenario because literally every good trader I know is looking for this level right here. And I personally think that not everyone is going to get this entry because the entry is too good. It's too easy. And that is why probably Bitcoin is not even going to allow you to come back there because otherwise everyone in the market will have great positions. So if Bitcoin does come back towards that level, I would be expecting even a bigger squeeze towards the downside before Bitcoin really turning up again here. So that is my personal thesis on the market. Also looking at Ethereum, I still think that the major support where I think it's worth it to open up a long position is going to be around $2,165. So yeah, with that being said, guys, this is it for me in today's update video. If you did enjoy it, learn something from this video, don't forget to subscribe to the channel and see you guys on the next one. Peace out. Goodbye.