BITCOIN: WATCH BEFORE THE NEXT 24 HOURS!!!!!!!

the Bitcoin price is compressing and is about to be breaking out any moment right now here so on today's update video I will be discussing all the most important charts including the fact that in December in a bull market year we usually tend to go the most exponential I'm going to be exactly discussed this all the exact data points about smart money and stupid money entering the market right now here and what that means for the upcoming period in the Bitcoin market and more importantly we're starting to see massive growth on the M2 again here

so I will be discussing that and much more important and crucial information about what currently is exactly playing out with the Bitcoin price action right now here so without any further Ado don't forget once again slap up that like button back above 1,000 likes and let me jump straight away in towards the content so only in the short term I have adjusted ever so slightly my symmetrical triangle the basically what we're still seeing is that Bitcoin is indeed still bouncing from of this very important upward slop support line and yes we're also still seeing some

rejections from of the downward sewing resistance line and basically if you just remove all the drawings right now on this chart where it comes down to is that we are still creating a lower high structure on the top side and at the same time we're creating an higher low structure on the lower side so basically the Bitcoin price action is currently getting compressed and what I think is that this compression will be ending whenever we see a breakout clearly above any of these lines right here we're going to be just seeing that next major move

for Bitcoin getting created so Bitcoin is currently clearly compressing we're seeing that we of course did created that c Me Gap over the course of the weekend but just like I was exactly expecting no matter if we go up or down here always at the end of the Sunday we tend to come down towards that c close price and that is exactly what happened again for Bitcoin so right now if I'm looking at the 4ly time frame we're seeing that Bitcoin is just ever so slightly creeping up on that 4 early time frame pushing up

higher and higher and the consolidation which we're currently seeing is a very normal thing here I mean I've discussed it many times before Bitcoin is right now creating a major major dodgy candle and just like previously around at $11,000 $10,000 guys this has always happened before as well and if I'm looking back at history last time it took us about like three weeks here before breaking above that 10,000 Us doll Mark and something similar for that 100K mark would be all more than likely to be expecting for the Bitcoin price action this time around here

but there are different ways on how you can be approaching Bitcoin on the 4ly time frame there are also bigger support lines which I'm currently looking at that is of course that major orer sloping support line where I'm looking at right here and really the moment we're going to be breaking that trend line we could be of course quite worried but of course the most important support for Bitcoin is by far going to be that $990,000 level and if I'm looking also at Bitcoin you are seeing that major downward sing resistance line as well here

so basically we're seeing some new compressions getting created right now here and that is ultimately a very excited thing here and what I want to be pointing out here is that usually in the last cycle as well here no November is really where the bull market starts here and then in December we tend to see that continuation of that bull market just like you see in 2020 we're right now seeing it exactly playing out in 2024 as well only December has not been so crazy so far right but usually in December we tend to see

extraordinary price action for Bitcoin and very great performance and what is also very interesting right now here is that if we're looking at the Bitcoin future smart money index we're seeing that there's been a lot of accumulation from Smart money around that 7K region and now dumb money is flowing back in towards the market and that is ultimately a great signal because the last time we did saw dumb money flow towards the market we basically search from about like what is it 40 or $50,000 all the way up to $75,000 as well here so we're

looking quite good here and what is even looking better is the M2 growth here so the total money supply in the world is starting to grow again here and if you don't know it already but the most exponential growth on bitcoin always comes whenever total circulation of money is also increasing quite heavily in the world so that is happening right now here which I'm very excited for here we're seeing also on this chart right here that on this very important index we also saw exactly the same structure like we saw in 2023 where we of

course touch that support line saw some consolidation and then afterwards we had a major breakout towards the upside maybe something similar is going to be happening this time around as well here we're seeing very similar consolidation Bitcoin has been actually if you're just looking at the bigger perspective of it all be consolidating around this $80 to 90,000 K region for about a month already for about a month we've sitting around this 100K region right now here and yes it is really time for us to be moving onwards but this is very clear consolidation we have

seen many times before here and starting today we're also once again going to be seeing inflows on the small Bitcoin ETF which is of course quite great since every single day basically on the ETF we're seeing major inflows and also especially on that ethereum ETF here and yeah talking about altcoin season just like like we had in 2021 guys whenever we did sell altcoin season start we stayed there for about 80 days here so that is ultimately a very great thing here and something similar is likely to be happening ever since Bitcoin dominance did broke

below this very important support line we created towards the upside and Bitcoin if we're just purely looking at it to it right now here we're seeing that we're creating an sort of an exponential structure right now here and just like we did in 2017 this exponential structure you do not want to be missing out on because whenever it goes it goes quite quickly towards the upside so and really at the end of the day Bitcoin will just keep going up here for a very long period of time here as long as of course there is

more money coming in circulation I talked about earlier in this video further on we can see that exchange reserves for Bitcoin on exchanges are dropping quite heavily right now here and that is ultimately a very great thing to see here because these are of things we must see in the bull market and yes we're just basically looking at the consolidation phase and we're trading against a very important level res resistance which is that 1.618 here on the Fibonacci and the 1.618 on the Fibonacci better said that $12,000 level is of course an important level of

resistance in the Bitcoin perspective here because we're looking at this major Fibonacci setup here and the uh one and 2K is a be very big level of resistance and ultimately $123,000 is going to be also a very strong level of resistance for Bitcoin and it will definitely try to look to of course open some positions and especially as well if Bitcoin does come down guys I'm going to be looking to open up major positions if we do break down anytime soon so honestly I'm getting ready to open up new trades here and whenever I do

so I will be sharing it on this channel and if you're right now already want to be starting to trade with Bitcoin or potentially many other altcoins the best place to do it is on a non kyc exchange which is blowen and if you're r a sign up an account do blowen use that link below guys you will get a $10,000 deposit bonus which is extremely valuable in my opinion so Blen is the exchange I'm looking at right now here and it's very trustworthy and they have a lot of exchange listings so don't forget to

check it out in the link description of today's video further on we can see that if we're going to compare Bitcoin and the previous cycle to ethereum and the previous cycle we can see that basically ethereum only broke its ultim high in q1 2021 and Bitcoin of course in Q4 of 2020 so basically ethereum is about like three months after Bitcoin that is at least what always tends to be happening and that is why I think it is actually quite a safe betat to be looking at etherum right now here and everyone's saying yeah it's

not performing well it's it's lagging behind here but I do really think that ethereum is going to be outperforming Bitcoin in q1 of 2025 here and with this chart in the back of my mind I am definitely preparing my portfolio for altcoins and yes you can see it also on these other charts here the timing is more than right right now as well here you can see also the ethereum chart here has been consolidating for 99 181 days here and in 2018 to 20 2021 we Consolidated for 980 days before breaking above that altim high

again here so honestly if we're looking at any data points historically speaking it makes a lot of sense that ethereum is going to be performing extremely well here it makes also a lot of sense that altcoins in general are going to be doing very well here in terms of the timing you can see it over here on the Bitcoin dominance cheat sheet which we have made on the channel and shared with you guys many times before and honestly this chart is not even updated because we're already down quite heavily with the Bitcoin dominance because like

you can see we already broke uh from that high over there and we're sitting at 55% right now here so yeah we shared this information already quite early 55% is about here right now so this is very great to see here and honestly guys I'm just looking for a major major continuation of this breakout we have indeed not broken above that timn high but it's just a matter of time before we're going to do so so especially as well if we do see a bit big correction on ethereum I am going to be looking to

open up a major your position over there as well so this was it for me in today's update video if you did enjoy it liked it learn something from it don't forget to slap that like button and see you guys on the next one peace out goodbye