Foreign [Music] Welcome to another update video about Bitcoin I just want to take a look at Bitcoin as We're entering a new trading week here We take a look at the short time frame Chart Um as everything else was discussed in The previous video so it's really only About you know what is likely here and What are the key levels we continue to Have this sort of inverse Head and Shoulders here which of course doesn't Need to play out but it is certainly a Bullish reversal pattern which as I said Doesn't need to play out but it's Something on the chart and the neckline Would be not 16.8 K and if it breaks it Could send us into the 18 to 19k region I do actually Expect primarily short-term upside which Doesn't mean that the bear Market low Has to be in it just means that there is Short-term upside potential in a larger Wave four And this would eventually Lead to another wave 5 to the downside Um Which means the low in my primary Expectation hasn't been in yet However it suggests short-term upside Potential is there As long as we are holding above 15.7 K
As soon as we drop below 15.7 K we are Most likely going down directly and head Into the region between 14 and 14 and a Half k So what is going to happen here now well I'd like to change the short-term wave Count just from an ABC into a wxy that Is what I think is it's looking more Like a wxy Um three ways down Three waves up but not as a flat because The flat would have retraced more and Then it would be likely here to see this Y wave play out in another a b c which Would be Looking like This a B and then the C wave down wouldn't be Surprised if we see that Um short-term upset potential would not Be damaged with that yeah Because this is in fact the area that I Originally thought the price would head Into in a wave two whoops let me just Change that Um and it is the area That is located between so let me just This has to move up no yeah no that's Fine 15.7 K yeah I did scale that down a Little bit Um from the 78.6 FIB level just to get a Round number 15.7 k Two sixteen thousand one forty yeah Between the fifty percent FIB level and
Just below the seventy eight point six Percent FIB level Um this is sort of the area Where I would expect with the highest Likelihood such a wave to to get into Could The Wave 2 be already in yes but I Don't find it very likely the child Structure doesn't really suggest it yet But should we break out above 16.8 K Directly then we are already earlier Than expected unlocking the um upside Potential to 18 to 19k As per the FIB levels it would be ideal For a wave 2 to get into this region And then to start yeah but obviously We've got this inverse Head and Shoulders which you know we could very Well break straight away and then it Would be a very shallow wave too which Is of course possible as well But yeah this is sort of where we are Which means we shouldn't be surprised if We see some short-term downside Confirmation that this is starting would Be obtained as soon as we get below the Low of the wave a that is at 16 400 pretty much yeah if we break below That level then I think you have well Not confirmation but you have a good Indication that the C wave is starting And then we have a five wave move down In this C wave and that could play out Shortly one two three four five So and that's how I see Bitcoin at the
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