BITCOIN: IT'S A TRAP... *DON'T GET FOOLED*

after the Bitcoin barers Divergence we are right now finally finding support on the lower side and yes right now we are creating that next pattern on bitcoin which is about to be breaking out anytime soon here so I'm going to be discussing my price targets I will be discussing the major liquidity that is currently laying above us around that $100,000 Mark I'm gonna be discussing the ETFs I'm G to be discussing the most important information because the history is literally repeating right now if we're going to compare it towards the previous cycle r at $20,000

level Bitcoin is reacting in a very similar manner right now I need to discuss this and many important charts that are also revealing what is a b to be happening next year for Bitcoin so without any further Ado guys I need to discuss it all today's update video so don't forget to once again slap up that like button back above 1,000 likes will be highly appreciated and with that being said let me jump straight away in towards the content and that is of course first of all I want to be pointing out that the bearish

Divergence exactly once again played out like we've been predicting and honestly right now Bitcoin is just finding somewhat of support around the previous level of resistance what I of course exactly mentioned yesterday I said yes where Bitcoin is going to be finding support is likely that level where we previously round got a major rejection from here and what is interesting to see is that actually right now also we're starting to find somewhat of support as well from the upward sloping support line directly from the horizontal line we've actually broken below it and we're currently retesting

it but more importantly I am just looking at this upward sloping support line right here and the downward sloping resistance line from the top side and basically after this major rally higher that Bitcoin created we're right now seeing a massive consolidation phase getting started and whenever Bitcoin does break outside of this pattern guys we're going to get some very explosive price action so I think we're entering a new consolidation phase and this is just likely to be playing out next year and in all honesty what we're currently also seeing is a very interesting Divergence of

momentum since the RSI is still clearly creating lower lows right now in the RSI while actually the price action on bitcoin is creating higher lows so we're creating some hidden bullish divergences also if I'm going to be looking at the liquidity heat map we can see that the majority of the liquidity is currently clearly laying above us I mean a lot of people have actually probably opened up major short positions and that is why it is still likely to expect we're going to get a major short squeeze higher so Bitcoin at the same time saw

some outflows on the ETF here I mean it looks like that some of the institutions are still selling off some Bitcoins and black rock didn't bought any of them today and that is probably the reason why we are currently seeing some outflows but still in the bigger perspective we can see major inflows coming in towards the ETFs I mean so far from of the 10th of January we have seen more than 30 billion US dollar of cumulative flows coming in towards the SP Bitcoin ETF which is quite insane if you would ask me here and

I mean I really want to be pointing out the similarities towards that previous rally higher and before diving further in towards the content I quickly want to be pointing out the similarities that we are currently seeing with the 2020 bull market at the $20,000 level which was a psychological level we got rejected by that level we moved down then we tried to break above it and you can see it over here on this chart as well we are right now doing something very similar in a very similar matter compared to that $20,000 that previous Autumn

high from that previous bull market we tried to break above it and we did a very similar consolidation phase maybe right now if we're going to be pushing up again here we're going to see something similar again here but just to pointing out here last time this consolidation phase below the almi it lasted for four weeks here so something similar could be happening for Bitcoin and if we're going to be consolidating for four weeks in a row around to that $100,000 level ultimately it would be a very great thing for Bitcoin because the longer we're

going to consolidate at a certain level the less sell pressure there's going to be and that is ultimately going to be pushing up higher the Bitcoin price here but currently as well we're starting to see that Bitcoin is retesting that 100 day EMA and honestly every single time once we did touch this level we have significantly bounced from it and that is what I want to be pointing out and in terms of the Trap where we're currently trading in you have to understand today it is Black Friday and historically speaking every single year with Black

Friday we tend to see major Corrections in the market so honestly I am not really surprised that we are currently seeing an a slight correction since it has always happened during Black Friday for Bitcoin and right now with November 2024 compared TOS November 2020 that is actually exactly this consolidation phase I've just talked about from 20,000 dollars the the funny part is that the timing is also exactly the same here so well not already we're seeing a significant similarity in price the timing is also completely the same here so if something similar could be happening

we could be looking at the consolidation phase of four weeks here I won't be surprised for that to be happening and honestly guys if you want to be benefiting from any volatility that's going to be happening not only on bitcoin but also on altcoins don't forget to check out blowen in the link description of today's video because Blen is the exchange where you can trade without any kyc and if you r a s account using that link above my face right now here or below the video guys you will be able to get a $10,000

deposit bonus and blovin is definitely the best exchange to be trading since you can trade without any KC you can get a big deposit bonus and on top of that they have listed all these altcoins and they are listing them one of the fastest of anyone and that is ultimately great here because then you are not exit liquidity so very interesting if you're interested in trading further on I mean I really am seeing that altcoin season is is literally about to get kicked off and honestly guys I have made an extra video which I will

be posting later today going more in depth about all the reasons why altcoin season is officially starting right now here all the data is pointing out towards it and Bitcoin right now is just finding someone of support after having such a major rally higher and honestly if we do come down lower the next big levels of support that is going to be laying below Bitcoin probably the levels that are laying below Bitcoin that are going to be providing support is $889,000 and if we break below that it's going to be $83,000 so that is actually

quite much lower than we're currently sitting on so it will be very nice if we can hold on towards the support line and yeah that would ultimately be very great for the Bitcoin price action I mean I do want to be pointing out we have major amounts of liquidity laying around $100,000 and yes if we're just going to be for fun once again look at the fact that the moment Jim ker flipped bullish on bitcoin and said Bitcoin is all you need Bitcoin did top out here so the reverse gramer effect is still definitely in

play here and whenever he's going to be flipping bearish I will be the first one to let you know on this channel further on we can currently see that we're exactly on that right timing where the Bitcoin bull market sorry the altcoin season should technically get started and yeah we're seeing all these indicators also including the fact that ethereum is about to be breaking the trend line and just like Bitcoin did in 2020 guys whenever we did broke that multi-year downward sling trend line that was the point the major major bull market really got started

and ethereum looks very similar towards Bitcoin in 2020 and if I just look at my ethereum chart myself you can just currently clearly see here ethereum is creating a multi multi-year uptrend and this downtrend right here is currently getting broken and honestly it really looks like it is going to be popping off anytime soon here so the Bitcoin Rising wedge on that Bitcoin dominance chart is also starting to be breaking down as of this moment of time here guys altcoins are likely to be exploding next year with the Bitcoin dominance breaking this upper soing Trend

right now I really think it is going to be imminent at this moment of time here so Bitcoin the bull flick pattern broke out here the price Target is $120,000 and just like I said in many times before usually we do see some turbulence right so we see a rejection we moved that we moved up afterward after that again here so very excited for Bitcoin right now here and honestly I do really think Bitcoin is going to be pushing much much higher but it's only a matter of time here I'm going to be closely looking

at this consolidation phase for Bitcoin right now here I do think whenever we're breaking outside of this pattern whether it's support or resistance that is the next major move for Bitcoin but anyways guys thank you so much for watching towards this amazing new update video if you did enjoy it learn something from it don't forget to slap that like button and I'll see you guys back again tomorrow on another update video peace out goodbye