Foreign Video about Bitcoin so Bitcoin continues To to be weaker than ethereum Um Ethereum already broke out of this sort Of trend line here you've got an Equivalent on the ethereum chart Generally the eth chart as you know it Makes a much much stronger impression Than Bitcoin Um however overall in the micro patterns They move in similar ways at the moment And if in in addition to my last video Not too much has happened on the PTC Chart Um so the assumptions are still the same With the only difference that we can Also like on the eth chart make the Assumption that maybe this Wave 2 was Already in even though it would be a Very very shallow one but we talk about The conditions for this in this video so In this video I'd like to focus on the Short term Talk about that here short-term upside Is possible as outlined in the previous Video but something needs to happen for That Um and primarily I'm still generally Looking for lower lows for Bitcoin until I'm being proven or until the chart Proves something different because I Think in the current environment we just Need to be very careful yeah this is the
Only five wave structure to the upside Of the low yeah so we just need to be Very very careful very mindful that it Really has only started to move in a Possible possible bullish way Um But um that's what you need to do you Know take it level by level and any new Low Um is a new chance for Bitcoin to move Like that and we just need to pay Attention to it it means that we're Watching it it doesn't mean that we are Mainly seeing this as Um the low is already in right because As I outlined if we now move up in five Waves I let it in yellow Then this is most likely only the C wave Of a fourth wave so just a corrective Wave overall A B c where the C wave is five waves Before we come down in five again and Make another low possibly into the Region around 14 to 14 and a half K as Explained in previous videos Um So Bitcoin does not seem to want to Retrace down into this yellow support Area which would rather confirm actually The yellow count Um because as I said in previous videos It could very well be that we're still In this imminent downturn yeah I did
Delete so far the the micro pattern of This chart just to do not to make it too Too um confusing but the micro pattern Would suggest the bearish one the Immediate bearish one would suggest that We come down here Um now yeah but we are not doing that so It rather confirms the yellow count Um Important would be that in any Retracement that we're doing now we're Holding the 78.6 FIB level that is now At 15 763. So if we now retrace let's say we Haven't seen the Wave 2 yet and the Wave 2 is still to come again bear in mind This is all micro counting so this is Fragile stuff they are moving a lot a Lot they shift a lot whereas the higher Level patterns they don't move that much And because they haven't moved since the Last videos I'm going to focus here on The micro counts and I believe Um it helps a lot of people as well so Um let's say the Wave 2 wasn't in yet And still to come we now need we need to Hold for from to make a confirmation or A continuation of the yellow count Likely we need to hold the fifteen Thousand seven hundred and sixty dollar Level the 78.6 FIB level So at the moment we can still see Wave Y Wave 1 as unfolding that's one Possibility
But actually we can already count it as Complete as well so that's the Uncertainty that we currently see here Um we can count it as a diagonal one two Three four and five complete So here yeah Um and remember when we were here I told You we're going to come down ideally Into this area we didn't Um And that's that's basically the option That we say that either and it would be A very shallow one That with Wave 2 was already in in this Scenario I would now expect A decisive and strong moves up in the Coming session and we would need to Reach the 18 180 level fourway three So we will see a confirmation Continuation into that direction Um there's one more possibility where we Say no Wave 2 isn't in yet And then this was a wave a Hero b wave which is starting to get Difficult with one more wave up I can't Count that anymore as a b wave and then The wave C would come down but I've find It unlikely now especially because on Ethereum we have a similar pattern and With ethereum I can't really count it as A P wave anymore it at least is Difficult it's not ideal Um we just say wave one is still Unfolding right so this is the challenge
That we currently have Um I would rather go at the moment Because I've got that on the ethereum Chart as well I would actually rather say okay maybe Wave 2 was really in Yeah and um if one was in and we're now Moving higher this of course will get Invalidated if we drop below the 16328 level then we're going to go more Slightly into this support area and if We lose this support area so if we get Below 15 760 we're most likely going to Make a new low which on the flip side Means against that support level At fifteen thousand seven hundred sixty We can now focus on higher but it is Only short term okay until the market Proves something different in a higher Level pattern that would be for example That we are moving higher now in a third So let's say Um proving something even more bullish Would be we had here ABC that's the Current idea but if we then come down And move up again that would be a five Wave pattern and then we can actually on A higher level also confirm that um You know at least with higher confidence That an overall loan was already made For Bitcoin Um but at the moment lower lows are Still very very likely So what else to say I think that's sort
Of it at the moment Um it's worth observing here Um if you want a yeah now if you want a Fairly Swift signal that things are Changing here then you can add a trend Line Yeah that's important Um because if that breaks then I think There's a good chance to come down if we Are in a way three it shouldn't really Break okay So that's my update about Bitcoin I 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