Bitcoin Rejection! The Bearish Scenario Is Now in Play

On Bitcoin

Changed since their last video: weeks moved waiting to up.

Views

• Next days (next 1–7 days): Leans down: a wick to the downside, which means very likely we could see us push down and fill the liquidity this week. ▶ 02:47
• Next weeks (next 2–6 weeks): Leans up: So I will turn bearish if we do not get through $72,000 over the next couple of weeks. Okay? But for now, I am turning bullish to $72,000 as plan A. ▶ 11:06

If this, then that

• If A loss and a consolidation for a few days below $58,000-$57,000, then no target given (next weeks): A loss and a consolidation below just a few days below this area of $58,000, $57,000. We are bearish. ▶ 06:17
• If Daily close above $64,800 confirms the breakout and turns the market bullish, then no target given (next weeks): to confirm a breakout for me is a daily close above $64,800. We see a daily close above that, things start to turn bullish very quickly. ▶ 07:17
• If Getting through $65,000-$66,000 starts a short squeeze, then no target given (next weeks): once we start really getting through the $65,000, $66,000, it is very likely we are making our way to the early, if not mid $70,000s. ▶ 01:49
• If Price stays below the weekly bearish wall, then 40k (next months): for as long as we stay below this wall. Right, there is a higher low possibility, if not possibly to the downside into the low $40,000s. ▶ 01:39
• If BTC does not get through $72,000 over the next couple of weeks, then no target given (next weeks, by over the next couple of weeks): So I will turn bearish if we do not get through $72,000 over the next couple of weeks. ▶ 11:06

Levels named

• 73k: Resistance (200 day moving average is turning down and lines up with the top trend): if we see a squeeze at any point, we see we are in the 200 day at $73,000, right? ▶ 05:21
• 72k: Target (big liquidity squeeze zone above): there is a squeeze to $67,000 and then there is a big squeeze up to this $72,000. ▶ 07:40
• 67k: Resistance (liquidity squeeze layer to the upside): there is a squeeze to $67,000 and then there is a big squeeze up to this $72,000. ▶ 07:40
• 64.8k: Resistance (daily close above confirms breakout of the wedge): to confirm a breakout for me is a daily close above $64,800. We see a daily close above that, things start to turn bullish very quickly. ▶ 07:17
• 60.5k: Support (more tools indicate a bounce at the 618 retracement): is $60,500. This for me is the stronger long area that I am paying attention to, plan A. ▶ 08:16
• 59.4k: Support (786 retracement, second entry): But I do also have $59,385 will be the areas of my second entries. ▶ 08:16
• 57–58k: Their view is wrong past this (loss and consolidation below turns the speaker bearish): A loss and a consolidation below just a few days below this area of $58,000, $57,000. We are bearish. ▶ 06:17

Their own position: No position. Right now, I am not longing. We are in between here. We can chop, chop, chop, chop, chop. I am waiting for a very clear entry.

On Ethereum

No change since their last video.

No view on any horizon.

If this, then that

• If Bitcoin drops, then no target given (next weeks): So, very likely ETH will drop pretty aggressively if Bitcoin drops as well. ▶ 16:32

Levels named

• 1.7k: Support (area where the speaker is waiting for long entries): I am still waiting for longs at the early $1700s, right? ▶ 12:02

Their own position: No position. I am still waiting for longs at the early $1700s, right?