Today, for the bitcoin price – and yes, this is an emergency. This is literally an emergency. I just pulled over here with a car. I mow because right now something is happening in the something i have to talk about, and i don’t even have the time to go back home and record it from my hotel room. No, i have to talk about it right now, because right now, in that exact moment, bitcoin is retesting.
The 45 500 us dollar level. The level i mentioned as the ultimate ultimate support for bitcoin, which has to hold so now that we are retesting it. The most important question, of course, remains: what can we expect for bitcoin right now in the immediate short term? Are we going to hold it, get a bounce from there and break out to the upside, or are we going to eventually break the bottom and get a waterfall down to a very specific price target? I am going to mention here in this video.
I can tell you one thing for certainty: the decision is going to come very very soon, and i will talk about that. I will definitely make sure that i’m mentioning everything you need to know in regards to the bitcoin price. Of course, i am going to talk about v-launch. We just has an add-on announcement that basically to our launch, but we’re just adding an nft launch pad so for everyone who is holding v-pad and staking it you’re, not only getting insane staking, rewards three idea locations. No, you are going to get free, nft drops, uh, whitelist slots and so on.
The utility is completely going parabolic. I will talk about that towards the end of the video. Now, let’s focus on the bitcoin price, let’s focus on what’s on everyone’s mind because, as you know, bitcoin is ruling definitely the crypto space and well, as you remember before we had this falling ratio right, we broke out actually, as predicted, and my price target was the Top of the wedge here well, we broke out exactly to the top of the wedge. The price target i predicted. However, i also said i think it is very possible that we are actually going to break higher after hitting my price target and even hitting a higher price target.
Well, this didn’t happen, and i also mentioned we need at least the daily kind of close above the previous price target. We didn’t get it. Thus, we went down so now we have to evaluate what is happening right now for bitcoin. Well, the previous support is still the current support. We are still holding it, but, as you know, one of the most important rules in trading is the more often we are testing a support.
The weekend actually gets eventually the likelihood increases more and more the more often we are testing it that we are actually eventually breaking it towards the downside. Every single time we are testing support. We are testing the balls and every time we are taking all the um orders like out of the order books from the bulls of course, and they are getting weaker. The bulls defending this level are getting weaker every single time. The bitcoin price goes down here.
So now we are having actually the apex coming closer and closer, and the support and resistance converging here and, as you can see today, is the 5th of january, but until the 8th of january so latest in 3 days – and we are talking here before the weekend – We are going to get this breakdown or break out now. The question is what is going to happen? I can tell you from a probability standpoint: the breakdown to the downside is in fact believe it or not more likely. Unfortunately, now, let’s see what would happen well, if we break down 42 000 us dollars, it is so here. Maybe the most realistic thing is to zoom out and see.
Would that still be in alignment with the bull market narrative if we were to break down to the 42 000 us dollar price target? Well, let’s pull out the ema ribbon and you can see well only if we are wicking to this price target, but we never ever want to see a weekly close below the 44 000 us dollar level. So it is definitely getting very, very spicy here these days. For bitcoin and of course that’s also for some altcoins in the cryptocurrency space, as you remember, there’s always a flip set, of course, might be the less likely one, but you want to get ready. Of course, if we are breaking resistance towards the alps upside well.
50. 000, us dollars can get re-tested here for another time for bitcoin, but just that you know guys we are having descending resistance. We are definitely having the bears being in charge right now on the four hourly on the daily. So please be aware of that and don’t let anyone fool you into blind bullishness. Yes, i am always bullish.
Yes, on the weekly, i am bullish on the shorter time frames. We have to be very cautious, though, and well you know the deal guys on v-pad. V-Pad is actually going crazy still and just today we had let me quickly zoom out here a breakout out of this triangle. Let me show you on the only where it’s even more beautiful. You can see.
We broke out here. Well, even this breakout with the bitcoin dump is struggling a little bit, so you never have certainty on the charts, of course, with bitcoin leading it. But if you don’t want to have certainty on the charts, let’s look at the fundamentals and just today mo and me we actually dropped seven hours ago. Almost ninety thousand views nine thousand likes that we are going to have in addition to the current launch pad as additional use case and utility for the vpat token nft launchpad, coming to you in february. That means, if you are, let me quickly go back.
If you are – and this is why the price was going higher after the announcement buying v-pad staking it on vlaunch.com – you are not only going to get insane staking rewards. No, you get free, ido allocation spots on our website where we are going to drop high quality free idea locations. No one else is doing that in the whole crypto space. On top of that premium idea our locations free nfts to your to your addresses right and free nft whitelist slots like i, i couldn’t even stop if i would come out and tell you everything what’s in the pipeline guys, this is, of course, why the community is So happy this is why we are continuously growing and why, after us, giving out almost 70 million us dollars in free unlocked tokens to the community, the price was not dumping.
Thank you so much for that guys. Thank you. So much for smashing up the like button to a new autumn high and we are going to see each other very soon at the next one of mmkrypt and as always guys as always bye, bye,