Foreign Welcome to another update video about Bitcoin so let's take a look in this Video we start at the four hour chart Just want to show you oh you know what Why do we not start on the daily chart Just Um just as the market isn't really Moving a lot there are different ways of How this can be interpreted this entire Move here that started basically from March 2020 Yeah everything before that we had a one Two set up here another one two setup And this is another larger one two setup So we've got three large one two setups On the Bitcoin chart Um I talked about that before But what really interests us is of Course this here this movement right I Mean there's people who use the lock Chart people who don't use the log shot I tend not to use it because it distorts Wave relationships in my opinion Um but it has different opinions right There's different opinions I can only Tell you that in the entire Bitcoin Analysis this wave pattern and the log Chart no the um arithmetic the limit Linear chart they have served a really Really good purpose for us so it works So I'm happy with with with using them Um the view is that we topped here in April 21 in what I believe was a wave
One we are now in a wave two I don't Think at least there is no sign for it That Bitcoin has completed the Wave 2 Which means there is no sign that Bitcoin has completed the correction There's no sign that Bitcoin has put a Low in place in this bear Market it Could be because it has without a doubt Come down enough you'll know that back In November we talked about prices below 30k we had to get there there was no Bullish scenario anymore and it followed The path it was a hard journey but we Came and we arrived at the destination And now we just need to be alert you Know how how much lower do we go and um My view as you know is that we are the Next main target is sort of the region Between 14 and 14 and a half k for Bitcoin can we go lower yes but we need To take it level by level because if we Break the 14k level it will send us down Most likely to 10 and a half K but it's Not that I can now tell you we Definitely get there because the wave Count would suggest it the wave count Suggests to us that this correction Could theoretically be over or that Ideally we're going to see one more low In the region between 14 and the 14 and A half K but of course it could go lower Those waves can always extend so we need To be ready for any reversal to the Upside
Um at the moment I haven't seen one very Clearly okay So the movement then from this um high In April 21 that was came down in the Wave a part of a corrective wave two we Moved up in a wave B three wave Structure B wave wave is a corrective Wave an overshooting wave B and we came Down in a c wave or we are currently Coming down in a c wave and there's Several ways how this movement to the Downside can be counted there's waves or There's waves where you count the sub Waves as three wave structures because It is an ending diagonal Then you have to um you have to count Each of these five sub waves one two Three four and five as three wave Structures I did that here in this Example there are other ways of counting It and to be honest it doesn't really Matter so much because what really Matters now is what happens down here So and we go now into the four hour Chart And on the four hour chart We can see That in this last wave this wave 5 here In yellow another low is expected Because the sub waves suggest that in This wave 5 we've got an ABC structure a B c we're now in the C wave the C wave Consists of five waves one two three Four five the wave 5 4 is currently
Happening as expected we are going Higher yeah Um so scenario so far fulfilled and I'm Waiting for one more let down in a wave Five That could theoretically start at any Moment my primary expectation is however That short term we go a bit higher and We take a look at that now but yeah Target ideal Target for the wave 5 is Around 14 to 14 and a half K so what Could happen for example is we had here A little bit well so we did our wave one Two three maybe go a little bit higher In the way four maybe into the region 18 To 19k and we come down then in a Long Way five and hit the area around 14 to 14 and a half K and will then break out Of this wedge and go higher and put the Low in place here certainly a very Likely scenario Okay let's go to the one hour chart just To show the um most imminent price Action And here in the most imminent price Action the view is that we are in this Wave 4 as I just said yeah this Wave 4 Consists of ABC in my opinion A B C this C wave is a five wave move and that is The move in which we currently are there Is another possibility I said that Yesterday that's why I've written here Is a top in place question mark that's What we don't know exactly yet yeah
It will be determined by the next moves An overall top could be in place here I Just need to issue a warning here it's Not my primary expectation but if we now See price confirmation it would confirm That view and we are prepared right Um Because it could be and that's just a Different wave count that this is not an ABC but it's a w x y and in a y wave Here we've got enough Enough waves so As soon as I see that the possible wave Pattern is full I make you aware doesn't Mean we have to go down straight away no But it could be that from here we are Putting a top in place and we break down And go directly to that 14 and a half K Level okay Just very important to understand that But primer expectation is still that we Climb higher we haven't lost the support Area here and the idea is we climb Higher That will be the view as long as we well Hold the support area Um The view is that in this C wave that I Just mentioned we've put in already a Wave one we've put in a wave two came Into the support area and as expected Reversed we're now in a way three there Will be a wave four and away five Target For this wave three
Is actually 18.1 K okay so we still have A good way to go if this is the correct Wave pattern that you see on the screen Here Always bear in mind question mark top And place maybe okay it's not not Confirmed but it's a possibility Um But at the moment if we look at this Wave pattern here the primary Expectation we assume that we are in a Wave 3 in yellow and in this Wave 3 We've got our sub waves one two three Four five and in this and we are in the Wave three and within the wave three We've got the White Wave count one two Three we're now in the fourth wave and We'll come down up once more in a fifth And this is exactly the reason here Where I've got the support area because The fourth wave is usually a little bit Boring it's a little bit long it's come Exactly into the support area here could Drop a bit lower in fact I would Primarily expect it to come down a Little bit lower Yeah Um And to be fair I think I will move this Wave three here it fits it just fits Better the overall Um wave count okay to put that wave Three here Um let me just think yeah it would fit
Better might need to do some Readjustment here of the sub waves Let me just see one so we've got our one Two here then we've got a one two here Another one to here three four Five no we okay so let me just change Something I think I would put the wave 5 here At the top 17.2 k That's the green count We could okay we could argue this was The wave three Okay so maybe and that's just an idea This and again with those micro counts This is sometimes very fragile this Stuff Maybe we already had the Wave 4 in here Yesterday You know that when you see that Do you see that a week to the downside Here Maybe even before that Four This was then a five because it made it Above the previous wave three High Then we completed already the Blue Wave Three We're now coming down in the Blue Wave Four And there will be one more like up in The Blue Wave five of three Just giving you options here I think This is actually a more Well not necessarily a more likely can't
But certainly one that Is quite interesting that we're actually In the Blue Wave four now if that's the Case it would maybe have an impact here On the Target because it would allow us To increase the support area down a Little bit more All the way down to sixteen thousand six Seven four It would be able to drop a bit lower Without invalidating a wave four so just Be aware of that Um This yeah And it's it's hard sometimes you know With those lower level waves um some Analysis some analysts don't do them at All I think they're always important for A road map They do have an understanding of where Are we actually here in the in the Process in the cycle but um the point Here is as long as we're holding 16 674 we can focus on the current wave Count if not then yeah most likely a More sustainable top has been put in Place here and if we then follow through The rock below 16.3 K which is the 78.6 FIP level then we are most likely going Down into the 14 to 14 and a half K Region but for now I assume we're going To hold this support okay and that's my Update about Bitcoin I hope you like the Update if you did please hit the like
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