Today for the bitcoin price and believe it or not, i have news to share with you, which are not easy to share with me here in regards to bitcoin, but nevertheless the truth has to be told. I wan na go here with you into the charts and tell you exactly what we are looking at here right now, why we were getting this big, big red candle and what we can expect for bitcoin right now, in the immediate short term, we are going to Talk about v-launch as well, and many many more things so make sure you’re watching this video until the very end, you are smashing the like button up to 15 000 likes on that video. If you’re watching this, you are asking yourself chris, why didn’t you make a video yesterday scroll down smash up the like button to 15 000 likes and now get let’s get straight into it. Just on a quick note guys, if you want to go a little bit further, even please make sure you are sharing this video with your friends on whatsapp telegram if you feel comfortable with it. This is what helps the channel algorithm the most now.
Let’S talk about the bitcoin price and just wanted to show you this beautiful surrounding i’m on the tip of one palm leaf on the dubai palm. You have the beautiful sunset in the back, which i’m always very grateful for every single day and obviously now i don’t want to bother you with these set with this sentimental stuff and go straight into the content. So, and we are here on the daily canvas. I don’t want to stay on the daily canvas. We will revisit them, though, if we are going over to the four holy candles for bitcoin.
You can see something interesting unfolding because well right here i told you don’t go short if you’re going short, you’re running the danger to get liquidated, we pumped out out of this falling wedge, which has a bullish bias. We perfectly reached my price target. Obviously this is the first profit taking area. I was mentioning also potential higher price targets, though now the question is: are we aiming out here and is bitcoin going lower? Well, let’s first of all look at the previous price action because right here you can see how we had a nice w pattern.
Bitcoin actually broke higher perfectly to the price target of the w pattern. It’S a bullish pattern! Now we are seeing, though, an m pattern here, it’s not a perfect m pattern, as the second high is higher than the previous one. So it’s not like an extremely bearish amp pattern, but we broke the neckline because if i am pulling out here the horizontal ray you can see, we broke the neckline here to the downside, and that is of course something we have to acknowledge and the price target Of that would be actually a little bit lower, so we didn’t even reach the price target yet so, however, you want to take it. It is not the most bullish thing which is happening right now: bitcoin breaking the neckline of the m pattern and actually breaking lower.
Also one thing which i don’t like to see and i’m i didn’t expect this to happen honestly. I did not expect this to happen. I want to make this very clear here that is bitcoin here right now, breaking the ema ribbon, which we previously broke right here. I gave you the bullish signal and, yes, we went much higher, but i expected bitcoin to hold it so far. However, we broke it to the downside and the reason why this was maybe happening can give us the daily candles.
If i am going here over to the daily canister, ladies and gentlemen, you can see. We are, of course, still below the daily ribbon here being below the daily ribbon. Of course, on the daily candles shows us, we did not break the trend, yet bitcoin actually have to break, and this is something i mentioned before the 52 000 to 53. 000, us dollar level. This is what i said before.
Actually, so let me quickly consolidate. Yes, we reached the 52 000 level check mark behind my price target, but in order to actually flip bullish on the daily candles for the mid run as well, we need to break the 52. The 52 is on the vp vr very important, it’s extremely important because it was the previous high actually for bitcoin in the start of the falling wedge, and it is extremely important because it marks slightly above it marks the the trend change on the daily canvas in Accordance to the ema ribbon, so 52 000 that is, and actually yesterday i was posting over on twitter. By the way vpat was the number one trading cryptocurrency worldwide on dextools, that’s crazy. I mean even sos, which was which everyone was talking about.
Yesterday, vpat was in front of that. This is insane something i was posting yesterday actually 17 hours ago. Is that bitcoin has to break the 52 000 us dollar level. To make me happy, and the reason for this is of course this is the most important level to watch right now we had that the previous high vp vr resistance and the ema ribbon as extremely important daily psychological resistance as well. So as long this is not happening well, we can go lower for bitcoin at least reach the price target, which is just slightly lower here of the m pattern around the 46 to 47 000 us dollar price levels for bitcoin.
So what i would be doing right now, if you are in a long trade, you already took some profits at the 52. My first price target – fine. I am staying in this trade, unlike unless we are not breaking the previous uh resistance, which should now be turning into support. I am staying in the trade i am leaving the remaining in, as if profits are already taken well, the trade can sometimes go against us as long as you are having a proper stop-loss in this is so far what i want to talk about, bitcoin and, of Course, the further we go, the less likely it gets that we are reaching this very important. 60.
000 us dollar price level, i’m gon na say it right now, most probably, we are not going to reach 60 000 worth in december. That means that on the monthly candles and that’s very important to understand, listen how quiet! It is here very beautiful that, on the monthly candles we are going to close below 60, we are going to close below the monthly support and it is having bearish implications on bitcoin for the next few weeks to come. Unfortunately, this is something i just. I just have to speak the truth here, right, um, let’s wait and see what the price is telling us of course, uh.
Something else i wanted to talk about is um here about the v-pad price. If i am going in here, let me quickly go into the uh four hourly candles actually for four v. But no, you know what let me go over into one into the one hourly candles, because if bitcoin is stumbling around and not really giving us opportunity, maybe vpat is right and, as you can see, it is in a crazy run. I mean we already reached two dollars: that’s crazy and right now it is consolidating in between support and resistance. Actually, here in this ascending triangle, so in case we are getting another support here from the upward sloping support.
Well, i am expecting another test of the horizontal resistance and i am expecting eventually a break towards the upside to the price target. Let me quickly check what the price target would be to a potential price target of v-pad. Let me quickly pull this around and put it here to a potential price target of 2.28 2.30 for the next move for vpat, and that is certainly something exciting i mean i just told you earlier.
We were number one trending on dextools i mean it’s absolutely insane. If you think about how many cryptocurrencies are out there, 20, 000 or so, and we were number one, this is, of course, because of you, the community, it’s not just me and mo here leading pushing content, pushing new projects coming decimated coin. We have three idea: locations premium, idr locations. No, it is you guys making noise. You guys supporting us.
270 000 people in our v launch community. This is crazy. Thank you very much for that. It’S getting very windy. I have to wrap it up already.
We are going to see each other very soon at the next one of m encrypt and as always guys as always bye, bye,