Bitcoin is right now creating the next
pattern which is going to be revealing
that next gigantic move on the price
action but more importantly on today's
update video I will be exactly discussed
what Bitcoin historically speaking has
done once it did broke above its Tim
High how the price action did behave and
when we could be expecting that mega
mega pump is going to get started for
Bitcoin so I will be talking about this
the SP Bitcoin ETF flows and many more
important data points and of course I
will give a gigant IC update on ethereum
which is going to be extremely important
to be watching so without any further
Ado don't forget to slap that like
button once again back above 1,000 likes
that will be absolutely incredible with
that being said let me jump straight
away in towards the content and looking
at the IM Minature term on bitcoin we
can clearly see we're creating a new
pattern here on the price setion of
Bitcoin with a gigantic fake out on the
lower side we're creating a clear
downward sing resist line here from the
top side with multiple rejections in one
go and every single time basically once
Bitcoin touched this level we saw
gigantic rejections and every single
time once Bitcoin tested this Lower Side
of support we started to see the Bitcoin
price action Bounce from it every single
time so what could we make out of this
is that Bitcoin is R now trading in a
compression and basically is about to be
having a massive breakout anytime soon
and once it does decide to be breaking
out of this falling wtch pattern so
either above the downward sling resist
line or below the downward sloping
support line we are expecting that next
big move is going to be happening on
bitcoin but more importantly to
understand where we're currently sitting
in this cycle and we want to be knowing
what the next big move for Bitcoin is
going to be and when it will be creating
that next big move we need to be
analyzing how Bitcoin usually tends to
be behaving once it is about to be
breaking above alltime highs because if
we're going to be looking back in 2020
the moment where Bitcoin of course also
just broke above its Tim high and then
saw a massive rejection and then
basically Consolidated arounded region
for 16 days straight and let me quickly
explain why this scenario is so similar
because in 2020 we saw also a very fast
move towards the upside a consolidation
phase of about a month and then we
continue that bull market rally towards
the upside and why it actually would be
likely that we're going to see at least
for like one or two weeks of
consolidation around this region is
because potentially a lot of people want
to be exiting the market and the people
that are actually right now exiting is
the reason why we are going to be seeing
some sideways consolidation because we
want to be seeing all the sellers go out
of the market at this price and of
course like we know the current stage of
the market we are still seeing millions
and millions of dollars flowing in
towards Bitcoin from the spot ETF here
because yes well you may are panicking
Black Rock looks to be not panicking at
all and they have still bought more than
$280 million Us doll worth of bitcoin
yesterday and on average they're buying
more than $250 million US dollar every
single day from the market and why I'm
saying from the market is because OTC
desks are indeed running out of Bitcoin
and that is a reason why we are seeing
Bitcoin pumping so significantly in the
recent days here because there's just no
Bitcoins that that black rock or these
other ETF issuers could be buying from
the OTC desks and that is the exact
reason why Bitcoin has been pumping so
hard towards the upside but if we're
looking back at the previous time we
were about to be breaking aom I it took
us about two weeks of consolidation
before breaking above it so I want to be
pointing out to everyone out there is
Bitcoin is actually going to be very
boring for the coming two weeks here
it's just going to consolidate sideways
there's not a lot of things going to be
happening but one thing is going to be
happening and that is that altcoins are
going to be exploding because usually
once Bitcoin does go sideways in these
exponential rallies towards the upside
it is altcoins that are exploding so
this is a very likely scenario that
could be playing out but of course I do
understand that compared to 2020 we
right now have these spot Bitcoin ETF
which are of course attracting and
buying up such high amounts of Bitcoin
that we potentially could already the
earlier start that exponential rally
towards the upside because if I
historically look at Bitcoin what
happens once we do break above that
ultimi is actually quite insane because
the moment we do break above the timi it
usually only takes like two to three
weeks and in this case in 2020 it was 18
days to reach the first extension level
which is like an 60% pump towards the
upside what in that case was around
$30,000 and in this case the first
extension level for Bitcoin is going to
be laying around $100,000 which is also
going to be like a 50 to 60% push
towards the side so make sure to get
ready for this it is going to be
absolutely insane and once it is going
to be breaking it's going to be going
very fast so this is indeed the time to
be preparing I mean right now maybe on
the 4ly time frame we're starting to
create a new consolidation phase a
symmetrical triangle after we of course
seen this significant rally towards the
upside such kind of a pattern would be
actually quite interesting to be looking
at and if Bitcoin were to be seeing any
moves towards the downside I would
definitely embrace them with both hands
because I would see it as a massive
opportunity to actually accumulate
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content of course like we know this
cycle is going to be a little bit
different I discussed this many times
before and it looks to be that of course
in the upcoming cycle we are most likely
going to be having these 21% corrections
to 20% Corrections so if we were to be
seeing see any in the upcoming period I
do believe it's going to be a very good
opportunity to actually accumulate more
and just like I said I think history is
just repeating again here it could
potentially take us another three to
four weeks consolidating around this
region before Bitcoin is actually going
to be going above that timi but patience
is very important in this market right
now and the longer we're going to
actually consolidate around that ultim
high the more bullish it is actually
going to be for Bitcoin so make sure to
not get fooled by that and even more
importantly if I'm looking about where
Bitcoin is currently sitting in this
cycle and let me draw it correctly we
are right now sitting in the most
exponential phase of the market because
we've seen this several times before
once Bitcoin goes overbought on that
Weekly time frame that is the point
where the most exponential growth on
bitcoin is actually realize so this is a
stage in the market where I don't
necessarily should be getting fooled
this is a stage where things move up
very quickly maybe we're going to see
three to four weeks of consolidation in
between or maybe we're going to see a
20% correction but in the end of the day
every single correction in this phase of
the market would actually still be an
opportunity because I do believe that
we're right now in that exponential
rally phase in the market where Bitcoin
is most likely going to be growing the
most so make sure to pay attention
towards Bitcoin right now I don't
believe that this is a time to be not
paying attention this is the time to be
paying attention towards Bitcoin and
maybe you could even pay more attention
towards ethereum because in the recent
days we've seen of course ethereum
perform quite well here it is still not
breaking the downtrend against Bitcoin
which I am expecting is going to be
happening anytime soon because in 77
days from now on we're going to have the
sport ethereum ETF coming towards the
market and once that is going to be
hitting the markets I do believe that
we're going to be even going more
exponential with e compared to how it is
going right now because yes in the
recent days it has been absolutely
exploding if you've been following my
channel you know that I've showed this
fral many times before ethereum history
is indeed repeating and we are right now
just at the beginning of this
exponential rally and especially with
the ETF coming I do believe that it is
got way more potential for where it is
currently sitting and my bull market
Target for ethereum is laying around 12 to
13,000 which is from of this point still
more than a 250% increasement which is
absolutely insane it is absolutely