Today for the bitcoin price, and yes, i have a very, very urgent message for everyone holding bitcoin right now. If you are asking yourself the question, not only what is going to happen today to bitcoin in the immediate short term, i have an answer to that. But especially if you are asking yourself, are we in a bull market? Are we in a bear market? Are we going to reach much higher price targets actually, or is there going to be only downside from now on?
This video is meant for you. This is actually an urgent message which should go out to everyone today. The only thing which you have to do, of course, to support me here on my mission to get this message out there. If you want to say thanks for this free content, only please go down like the video share it. If you want make noise for the algorithm comment down below this is all what you can do to support me in my mission here, reaching every single one of you guys out there, because sometimes youtube just has to understand that this video is relevant.
And recently you did a great job with that. Every single video crushing 15 000 likes it’s completely unseen in crypto space. So thank you so much for that, and now let’s go straight into it, because i have something to show you for the immediate short term. In regards, what’s going to happen today and tomorrow for bitcoin, but obviously i want to zoom out here on the charts and tell you actually where we are in this cycle. Are we in the end of the cycle?
Is there more upwards potential? All of this in this video today, first of all, let’s focus here. On the immediate shorter mind, what you can see on the four hourly can, as i was posting that yesterday on youtube and also on twitter, is, i said, do not go long until we are breaking the resistance, do not go so short until we are breaking the Support so at the resistance we got a rejection and right now we are looking out for a potential retest of the downward sloping support approximately at 46 400 us dollars as long as bitcoin is in this pattern. As long as bitcoin is on this four hourly falling match, it is a non-trading area. I am closely looking at observing this pattern for it to break, and this is the thing this is the game plan right now for the immediate short term, before i’m zooming out and before i’m actually showing you what really matters in the immediate short term.
We are looking actually at this falling wedge with a bullish bias actually with the price target, a bullish price target of 52 000 us dollars if we are breaking the resistance here, the downward swapping resistance. 52. 000. Oh jeez, look at this wait! Look at this!
Let me quickly cut and i will resume very soon. Okay cut over, we are back at it again. I got i. I created a big mess here, anyways, let’s continue here in the charts and what you can see. Actually, if we are breaking this resistance, 52 000 is the price target and also, if you are, there, do not go short until we are breaking this.
What i was telling you yesterday this is the line. This is the line of support 46 700 us dollars. If i were to pull out the vpvr, you can see that well below that there’s a hole of nothingness, but as long as we are not breaking the 46 500 us dollar level, we are not below the support. This is technical support in terms of the pattern, but it’s also support in terms of the vpvr. The volume per volume range actually built throughout the last whole year, 2021.
As long as we are not breaking that, i’m not breaking bearish here for the immediate short term, we are still holding the support. This is my update for the immediate short time and now, let’s go over here straight straight into this chart, because what you can see here is the weekly candles for bitcoin throughout the last 11 years. This is the cycles. This is the four year cycles lengthening cycles. However, you wan na call it every single time.
Bitcoin is in these converging trend lines breaking out towards the upside here in 2013, finding its high in 2013. converging trend lines breaking out in 2016-17, finding the high in december 2021, four years later converging trend lines breaking out, so you would say four years later, 2021. In december we should find the high well like clockwork and, yes, it’s possible. It is possible that the bull market is over. The question is: how can we find out?
How can we evaluate whether the bull market is over just like clockwork december 2021? Exactly four years later, how can we find that out? I will talk about that, but number one the bear market is not confirmed. Yet there is a certainty that it is not a confirmation. Let me pull this out.
What you can see here is the ema ribbons on the weekly candles and every single time we are actually holding the ema ribbons. Let me fast forward here directly into the chart right now and zoom in a little bit just a second. You can see, we are holding it, we are holding the ema ribbons right now we were holding it before as long as we are not breaking it with significant volume support. We are still in it, and this actually happens time and time again. Let me go to the next bull mark to the last bull market.
We were holding it multiple times on the way towards the upside. So as long as we are not breaking it, i can show you the same thing in 2012 and 2013, holding it every single time, as long as we are not breaking below the bear market is not confirmed yet, and there is no reason to con to to Break bearish on the higher time frames on the monthly the same. It doesn’t look so nice. Yes, we are breaking the support, but we have to wait for the december close as long as december is not closing at these levels. We are good.
So let’s wait. Let’S give it a little bit more time trading wise. Yes, i am standing on the sidelines by the way, if you already want to get your free bonus actually for your next trade. Well, even though i’m standing on the sidelines, there’s no reason not to accumulate a free bonus down below there’s a femax link which you can sign up actually and get a deposit bonus, and the nicest thing is obviously also if you are signing up with that. Well, you will be on the first exchange.
Vpat v launch is gon na be listing on. This is the thing you wan na be signed up on that exchange, whether you want to sell whether you want to buy. You need to be signed up there. So the link is down below guys. Thank you so much for watching until the very end.
I truly appreciate your support and we are going to see each other very soon at the next one of ellen crypto and as always guys as always bye, bye,