Foreign So Bitcoin is um coming down a little Bit further that was entirely expected We talked about that in the previous Video Um that it would be ideal and it has to Be my primary expectation to break the Trend line and to come to the 38.2 Percent flip level because it is far Away for the ideal Target yeah it's Always nice to hold trend lines but the FIP levels count a little bit more They're a bit more more important than a Trend line in my opinion and my Experience so if we have a wave count Here and we have a wave 4 and the target For the Wave 4 points to the ideal level Of um in this case 16.9 k then I have to Go with that as primary expectation so We got there now however we don't really Have any kind of bullish reaction to it So we have to expect possibly a little Bit lower To maybe 16.8 K however if we now and Now now we need to be on high alert if We now see a five wave move to the Upside on a smaller time frame and I Give my best to keep you updated also on Telegram even though at some point I'll Go to bed but it could happen it could Happen here shortly to see that five Wave move to the upset and that would be An indication that wave 5 is ongoing Right
Um So that's actually what we're waiting For that's primary expectation to from This area and I'll highlight it now Again I thought I did that before but I think I might have done only for ethereum it's This area that's relevant from here Between the 38.2 and the 50 FIB level we Ideally want to move higher okay so that Would be ideal Um that would be in the way five We can also calculate Targets now For this wave 5 and we take the length Of the wave one for that So let's let me just see Let me just see him it's okay so it Depends a little bit on how we measure It because there's different ways of Calculating this target but let's say we Measure it from the current low then an Ideal Target would be the 1.618 Extension around 6 17 and a half K I Think sort of the 17 and a half K region Would be ideal for the fifth wave of the Third then we will only see a fourth Wave and another fifth wave To complete this third wave there should Then be another fourth and a fifth so That is all Um that would be the ideal scenario Pushing higher and to be honest Bitcoin Is moving higher that was entirely
Expected as you remember when I told you About the general Um pattern here that Bitcoin is doing This sort of ending diagonal Have been talking about this now for Weeks and weeks and weeks that The expectation is that DC is an ABC Pattern to the downside we haven't they Haven't seen the low for Bitcoin yet not Yet Um at least we have no indication and That in this C wave we have a wave one We have a wave two when we moved up here To around 21.421.5 I told you that we are Constrained below 21 750. As long as we stay below that level we Should see an imminent sell-off here in A Wave 3 which happened yeah that was FTX but my views it was only the Catalyst for something it would have Probably happened anyway And Then we talk down here that there's a Really good chance to see short-term Upside which happened now Um we had also the possibility on the Radar to see an imminent sell-off but I Think that has become quite unlikely now Um and then there should be another wave Five down into the region between 14 and 14 and a half K that would be an ideal Target so further upside possible into The region 18 to 19k absolutely at the
Moment what I expect Be aware though be aware that if we get Below this sort of 16.3 K level down Here Will be started that uptrend here in the White Wave 3. if we break below that Level then I think this pattern is Broken and We have to expect lower prices directly Into the region of 14 to 14.5 K there is Now the possibility that the top is in Place here not in this wave count but I Warned about that already just be aware Of it yeah because I always try to make You aware of most likely possibilities There's here now after we've seen quite A bit of a rally now we have now have The situation that a certain wave Pattern that we can put on the chart is Full yeah we can regard that as full it Depends on which pattern is working out In the end but be aware that from now on We need to be on high alert for possible Breakdown from here Um not intended to scare anyone but I Took no partial profits just partial Profits Primary expectation is still higher Otherwise I would change the wave count But be aware that this could have been Top it could have been and that would be The case in the following wave count we Would then see this not as an ABC but a W x y and the Y wave is now long enough
And also has enough sub waves to see This as a nice three-wave structure and Um Yeah that could be done it could be Finished just be aware of it okay so There's always conflicting wave counts Here especially now here on bitcoin Ethereum is in a similar situation but As I said primary expectation is further Higher ideally next into the 17 and a Half K region but overall it could take Us to 18 to 19k before we then see a Breakdown for another low that is at the Moment my view for Bitcoin so hopefully You like the update about Bitcoin 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 Thank you