Foreign Welcome to another update video about Bitcoin Bitcoin is also following the Primary expectation in the previous Video we talked about that ideally this C-wave goes a little bit lower before Moving up in the fifth wave in green so I have to first move all of this across Something that we just have to keep to Have to uh have to keep doing just Because Movements sometimes wander and it takes A bit longer oops so let's just move Them that's fine so yeah the pattern is Working out Um we had a pullback near enough to that Support level bounced off put that wave Five in it could very well be already Finished this wave 5 in green off wave Three Halfway three of wave three Um Together with this count I want to issue A warning as well but we we first take a Look at the count and we talk about the Warning that we've got here about Bitcoin Um it is still obviously in an ascending Above an ascending trend line It's putting a series of one twos in Here one two one two one two and this is A three four Let me just double check that actually It might have retraced a bit too much
No perfect Talked about that before in the previous Video you can retrace to 16 1740 roughly shouldn't drop any lower Didn't so it's fine when it reached the Fifty percent flip level it balanced and Moved up in a way in a way five yeah Um This is typical The Fibonacci levels do have relevance You can see how well the price adheres To these FIP levels here the price was Dancing on the 38.2 percent FIB level Which is for such a way for the ideal Retracement Um the maximum Wave 4 should do is the 50 fiber Trace well we came to that Level and moved higher which is great So the price reacted to it and now we Need to be on the side of caution Um Because we're approaching here the end Of a third wave We moved higher we went higher than the Previous Wave 3 which ended here at 17 067 which means theoretically wave 5 Could already be in ideally I would like It to be a bit longer To be more substantial at wave 5 but it Doesn't necessarily need to do it it's Moved up high enough to finish off this Wave 5 of White Wave 3. that would then Ideally be away four and wide and away Five in white as well pushing us higher
Eventually into the 19k region yeah that Would be ideal so the short-term bullish Potential that we've been talking about Since we've been moving up here yeah is Currently working out we had the wave One Large wave one year since the low from The 21st of September and November moved Up in a five wave move in a wave one we Came down in a three wave correction in A wave two hit my support area And We are now moving higher in what I Believe is a third wave and to tell you Before I believe there is going to be Short-term upset potential this week but It is not necessarily A bullish breakout Pattern but hey short-term bullish Potential for a possible swing trade Right which would have worked out Um but yeah this would generally push Higher ideally into the 19k region Um that would however be part of a Correction And we would then ideally come down once More in a way five to make an even lower Low than the one that we made on the Ninth of November which was here around 15.7 K so yeah so what can I sell what Else can I say nothing really other than Upside potential continues to be Relevant Um as long as we're holding Above This Ascending trend line I would put a trend
Line on my chart if I were you Um What else to say this can push higher of Course it's the expectation we are Currently in a resistance area here this Is spanning it's based on all these Highs and lows here in this region Relevant today Um this resistance area is based on the Um also it's located between 16970 and 17 000 to 50 I think getting Above that level would allow us to push Even higher which would be if if the Wave count is correct we will follow This and carry on however a word of Warning here we are now in a resistance Area there's naturally an increased risk Of getting rejected so be aware of Pullbacks all the time now yeah we have Moved higher didn't give you any Warnings until now but now is the time To be on the side of caution Um because we've moved enough we are Comfortably in profit if anybody entered Here in this in this uh yeah long entry Area yeah you are nicely in profit But now it might be time move up you Know to move up stop loss at least Consider it you know I can't give you Any Financial advice but consider to Move up your stop loss and maybe take Partial profits if you want to which I Wouldn't do I would just move up and Stop loss into profit take the risk out
Um and also the other or the reason for The warnings not only we are in a Resistance area and there's a risk of Rejection The problem we have is we have a series Of one two setups one two one two one Two some of these did not reach their Ideal retracement areas in a One you know in a wave two Of a third wave You ideally want to reach the 61.8 or The 78.6 FIB level here we reached only The 38.2 percent flip level for example My experience is if you have a series of One tools And some of them like the green one here And the white one Do not reach Um Ideal retracement levels but only Various very shallow ones there is an Increased risk of the whole pet center Breakdown earlier than expected so That's what I mean from now on be aware You know it's only a warning it's Nothing else not telling you to sell or Anything the primary expectation is Still that we push higher but we need to Be now on the side of caution as we're Getting towards the end of this Wave 3 Where the Wave 2 did not reach the ideal Retracement There is risk of a breakdown yeah coming Soon okay so be aware and but ideally it
Pushes into the region 18 to 19k but it Could very well very soon be over from Now just because we're approaching here The end of a third wave and the one the Wave 2 did not retrace into ideal levels So that often means especially if you Have a series of those one twos That the pattern might get exhausted Earlier than expected now we can already See that if we just look at the Indicators You don't even need to look at the Indicators to know that One second go to one hour To know that there is a bearish Divergence forming the one hour yeah you Have my higher high on the price chart The lower high on the RSI so just be Aware you know things can change quickly Here The four hour doesn't show that but the Four hours now overboard as well so hey I did that I moved up my stop loss for Ethereum I didn't enter Bitcoin position But ethereum happy with that movement Profits take the risk out And that's my updates hopefully you like The updates if you did please hit the Like button leave a comment and Subscribe and if you really like the Content please check out the channel Membership thanks a lot for watching bye