Foreign [Music] Welcome to another update video about Bitcoin so so far Bitcoin is behaving Yeah we only take a look here on the Shorter time frame Um in this video but Bitcoin is behaving We're looking at getting five waves to The upside complete raised my concern in The video earlier today that this looks Very corrective it still doesn't Convince me entirely that this is going To push through here but certainly the Opportunity is there and it's certainly Good news that we're moving away from The critical support the 50 Fibonacci Retracement level that is the level that The Wave 4 should not go below if it Does then we have to do Um well we have to change the wave count It would potentially be an issue to the Higher level wave count yeah we're Looking at a possible one two one two Setup in that case what still can happen And this would only get much less likely If we push a little bit higher This could still be an a wave down a b Wave up in three waves here we can Clearly see that ABC and then a c wave To the downside which could reach here 17 500 or 17 300 wouldn't be surprised By that to be honest yeah Um and then we have the low here but Then it wouldn't be a wave four it would
Most likely be a one two one two setup Okay so if we now take a look at this Pattern because this is what we see in The chart so we can currently assume Against the the latest support of 17620 We can push higher yeah obviously we've Got another Catalyst later today which Is the um fed interest rate decision That will be interesting and while I'm Speaking here this looks interesting Yeah so primer expectation at the moment Is pushing higher because that is what We see I still need to raise my concerns If I see them but the primary Expectation would be that this is going To be here fifth wave I don't have a Very clear picture of the lower level Wave count I mean what this could be What this could be is a wave one in a Leading diagonal they're always Difficult then a wave two down here this Now away three then we get away four and Away five up and then we should Moving move into a larger way for Retracement yeah so at the moment it's Going according to plan this way three Should push Two The 1.618 extension so ideally 18075 Yeah so a little bit more is missing and That is the minimum it needs to do 18070 Or 18 071 from here though it should Push One second let me just yeah that's
Correct 18 075 roughly and from here it Could push even higher maybe eighteen Thousand one fifty four the two hundred Percent extension in the wave three but Then we should see a little bit of a Wave four that should normally be quite A shallow retracement just a breathing Out breathing in whatever Um just a bit of relaxation before we Push higher in this final wave five Which could then take us To around eighteen thousand three Hundred here in the 2.618 extension that Depends a little bit on how high does The Wave 3 really go Um but just that you get an idea so and Then again this should then move down in A way four I can't really give you a Target for that yellow wave four but for Now it's going according to plan however You see clearly we only have three waves At the moment this could just be an ABC And come down once more in a c wave so a B C and ABC within the B wave so Um when will Let's assume this is an ABC so let's Assume we've got this um A down B up C down when will The Wave B Get less likely and here's the tricky Part because B waves are extremely Annoying very difficult to forecast now We've already reached the 88.7 fit level That means the be the it's already
Unlikely that this is just a b wave yeah Because the B wave should Norm in the Most likely cases or most frequently it Should stop at the 78.6 flip level it Should ideally not push higher than that You know it can certainly but it Shouldn't really Um and if it does it becomes a flat Pattern but the move down here I Consider a five wave move so we can't Really have a flat because on a flat Pattern you have wave as three waves With bs3 waves and the wave C should Come crashing down my interpretation is That this a wave is a five wave move so The B wave should be quite shallow Actually not ex Um you know go above the Um you know what I wanted to say above The 78.6 fit level so we just pushed a Bit higher still so Um let's just remind ourselves what I Just said about the target for the Wave 3 did we reach that now with the latest Push Not quite but I mean we were nearly There maybe this is now done Uh I still would like to see a bit Higher but we have to be prepared this Is done we've got a small way for Retracement if we now come down in this Small wave four we should hold The 17 9 37 11 17
937 level and then push higher in the Wave five so it's interesting yeah it's All about you know this is really all About holding that 17 600 level as long As we're holding that it's fine and Against their support level I would look At moving higher if we do not hold this Level then we have to look at a one two One two setup and critical support will Become 17 100 below that we've got Sixteen thousand eight seventy five but For me the primary expectation is still Up because it's currently following Nicely the the wave count and um again Next big Catalyst will be today the FED Interest rate decision and Um we'll uh we are all looking forward To that so yeah let's map it about Bitcoin I 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