Foreign Video about Bitcoin in this sort of low Energy chart right um I know it's Frustrating it carries on for a bit Longer Um yesterday only in the video we talked About the assumption that this could go On for quite a bit especially if we are In a in an Elliott wave triangle Um because if you if you watch the last Video yesterday we said that if we count It as a triangle which would be sort of The bearish count the other one variant Of the bearish count where we're going To put another low in then we would say This was a wave a hero b the wave C is Probably not in yet so we'd like to see One more High maybe yesterday we did put That in then wave D down and another Wave e up so it can go on for a bit Before we actually break down So this is actually getting more and More likely the more sideways we are we Are moving rather the longer Because the longer this is trailing Sideways Um for me the more likely it gets that We are actually putting this whole Elliott wave triangle pattern in and we Would then look at another move down in A wave 5 into the region around yeah It's at you know 14 and a half K maybe Even lower we need to take it bit by bit With Bitcoin level by level see if we
Knew if we put new lows in how does the Price actually react to it now it Doesn't mean I'm predominantly bearish For Bitcoin um I think it's quite likely To put another low in um especially as This is taking longer and longer and the Chart is sort of really losing its its Energy I would nearly say Um I know it frustrates people to look At this but also said yesterday this is Exactly perfect for you if you're a Range Trader or if you trade um with a Trading bot you know if you use a Trading pod then this is the time you're Looking for because with a trading part You don't really want to trade the Trends you want to trade the ranges so Here's a clearly defined range basically Between 15.6 roughly and 17.1 K right Um but that is the range Um but we are getting more and more Contracted here So less and less volatility as well as The volume goes down as well which two Degree is not a surprise on the weekend It happens on most weekends not on all There are always exceptions but um You can see that clearly Yesterday by The way we also dropped to the downside Out of this trend line so I mean you can Draw them in different ways but really In in each variant you've dropped by Basically today actually we lost the Trend line
Um so you could say that we are Short term very short term bearers here But it really doesn't change anything Nothing exciting happened here even that Um that candle to the upside a lot of People got excited after my videos Yesterday that we put that high in place But we haven't even broken out of the Trend line we haven't even broken above The 17.1 K level those are the key Breakout points yeah so at the moment we Are breaking out to the downside of this Smaller triangle it doesn't have a great Impact because the key support area for The Wider pattern the possible bullish Pattern because there is a bearish and The bullish one in this current range Um that is this yellow box and as long As we're holding the Box we can't really Say that we are in a bearish pattern That we are in the green in the Green Wave count yeah this won't really Materialize until we see a break of the Range so There is still the chance here to put This one two set up in place yeah that Is the bullish count it's not high Confidence not highly reliability Because of the nature and the Proportions which in within this wave One also the Wave 2 came down a bit too Low Not for invalidation but to make it Likely
Um and then we have here our next one Two setup but also in this next one to Set up what I would like to see and We've been waiting for that Um is actually one more low so in the Wave C maybe this is starting now yeah Maybe the wave C is finally starting but We won't really Um we won't really have some clarity Until one of these Rangers break so Again because this could be a triangle Pattern a b c d e not finished or we're Doing this one two one two and in the Second one two setup we are just trying To work on the C wave here that I've got On the chart a lower C wave where we've Maybe just put in the one two and this Is now a three a four and a five and Again as long as we're holding that 16.1 K level This is also still possible so yeah just Be aware there are different Possibilities Um It certainly loses the or the bullish Patterns certainly lose Probability the longer this sideways Range takes but we can never root it out So we always want to be prepared for it There's no point me hiding the bullish Wave pattern here because I've seen it Often enough in crypto that charts just Create those breakouts out of the blue And as long as the chart allows it I
Will put it on the chart especially in The current environment where Bitcoin Finally has reached targets Um after we've been waiting for a new Low now for for many weeks so it's it's Followed the primary expectation and now We're just looking for options here Um And at the moment as a trend Trader I Would just wait for a clear signal here There's no point you know just you know Just sort of speculating of course you Know you can go long here in the support Box set your stop loss below it but in Terms of clarity which one is playing Out we won't really have that until we Get a breakout of the range so yeah I Know it's frustrating but maybe we do See it's often the case you know when You see that kind of Contracting uh Volatility and reducing volatility that You get this massive Spike afterwards Um and usually the next in or the next Occasion where something like that could Happen sort of an answer and some Clarity because Clarity is good right so That we get clarity could be at the end Of the week so the weekly candle close In around well 12 13 hours really so it Will be interesting to to work to see What is happening after the member Livestream today because normally it is After the member live stream that we see Some increased volatility just because
We're heading sort of into the um into The weekly candle close okay okay that's Really everything I can tell you now um Hope you like the update if you did Please hit the like button leave a Comment and subscribe and if you really Like the content then please check out The channel membership thanks a lot for Watching bye