Foreign [Music] Welcome to another update video about Bitcoin Bitcoin is currently coming down A little bit but um for some reason Ethereum did drop much harder so I just Made an eth update ethereum obviously Drops below the support level has come Down in the last hour much more than Bitcoin bit surprised I don't know why It came down much more than Bitcoin Normally Bitcoin shows the weakness Maybe we get a bit of a flipping here at The moment yeah Um because in recent weeks ethereum was Always stronger than Bitcoin which means When ethereum moved up it moved up Stronger Bitcoin was weaker when it came Down then ethereum did hold much better Than Bitcoin but just here now things Are changing a bit and Bitcoin is Actually holding the same support level Much better in terms of Fibonacci levels Than ethereum ethereum dropped below it Which is not a problem we talked about a Potential top in place it's still here On the chart up here so we headed on the Radar took there for forty percent of Profits yesterday Of my youth positions that I opened Um recently much lower Um So I did take profits I will reset lower I will see where we are in the morning
I'm not going to do anything now but um With eth just because I just uploaded an Eth video uh made you aware we could Drop a lower of course and would be a One two setup and in a one two setup I'm Looking at the area between 12 30 and 1185 for support and if we show some Support here I will re-enter here we'll See but ethereum is just you know Support broke so it's just coming down And down and down now so um but this is A video about Bitcoin Bitcoin is holding Quite well I don't know what's going on Is the chart Frozen or no it's holding Fairly well actually Um Bitcoin can still be this particular Wave count that we have on the chart it Can still be this one two setup and we Can still be in the way three in fact on The ethereum chart I also still believe We are in the wave three Um But the point here is that the internal Wave count is a bit different now yeah Because while I have to while until just Now the Bitcoin and ethereum wave counts Were very similar in this Wave 3 the Bitcoin count now still is unchanged Whereas the ethereum count has to be Changed to a one two setup something That was not entirely unexpected we Talked about that in the last few days But still um Bitcoin is holding much Better for some reason so um if we look
At the Bitcoin chart here you can see That we are still in this exact pattern On Wave one to the upside two down wave Three still unfolding wave four down and Wave five up Um and here in this Wave 3 we've seen a Wave one a wave two a wave three a wave Four and away five and we can now be in This and that finished off a Blue Wave Three so we can very well still be in This Blu-ray 4 in fact we have still not Broken the 16810 level that is the 38.2 Percent flip level as long as we're Holding especially that level no reason To worry because these 16 000 810 level Is actually Four way for the ideal Target that nothing has happened right And the 50 level is the maximum it Should do in a way four so until we Break really below sixteen thousand six Seventy five which is the 50 retracement Not gonna do anything with my um With my assumption here and wave count I Actually don't have a long position open For Bitcoin Um at the moment I do have one open for Ethereum though as I said took profits Yesterday in anticipation something Could happen of course it wasn't primary Expectation but when trading we always Want to have a strategic planned Approach for scenarios which is why I Took some profits yesterday it just Seemed a bit dodgy what was going on
There Um and this weekend which is always a Little bit more uh less predictable but As you can see here we are coming down It looks to me like with with this Engulfing red candle that Wave 4 is Probably not finished yet Um but it could still be a one two setup Here this is of course you know super Micro counting and as long as we're Holding here the 78.6 FIP level and it's really micro Counting here at 16871 or even the 88.7 flip level at Sixteen thousand eight thirty five Um we could still see this as a one two Setup but this engulfing red candle is Quite Um well it it it suggests at least this Is not over yet because we also haven't Seen yet any bullish reaction to these Flip levels here so I'm still looking at Possibly a little bit lower here Um but it wouldn't be a problem Necessarily as long as we're holding Overall support in the yellow box and Then ideally we find support here turn Around move up in a wave five of three But of course here the same [Music] Um The same warning applies like Um made your way about ethereum Yesterday and Bitcoin as well that a
More substantial top could have been in Place here and that we might have to if We drop below 16 675 overnight you know I always try to prepare you for these Things in advance that this could be a One two also one two setup and if we Talk about another one two set up there The support levels go further down as Well we would then talk about the area Between sixteen thousand six twenty Three and sixteen thousand two sixty Five where we will then be able to find Support and if we drop below sixteen Thousand two sixty five Based on the latest wave count then It's probably not going to work out also Not as a one two setup and then we are Probably going to come down and drop Below for 15.7 K and then we'll go to 14 To 14 and a half K that's anyway for Bitcoin still primary expectation that We will make one more low for Bitcoin in The region between 14 to 14 and a half K But ideally after a little bit more Upside Okay So it's it's very interesting at the Moment especially what's happening with Ethereum Um so anybody who missed any lower Entries might have a chance today Tomorrow to enter again Um but again this is of course a Bitcoin Video still surprised how well Bitcoin
Is actually holding interesting but yeah This is still the level to watch right And um 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 [Music] Thank you