Today, for the bitcoin price and you’re, probably extremely shocked after seeing this title here, but hear me out guys, there’s something in the chats i have to talk about. I don’t want to, but i just feel obligated to do so. The new weekly candle, open and now the most important question is, of course, is this now game over for the bitcoin balls? Is it game over for bitcoin, or is it just another trap before we are reversing towards the upside, and specifically with this weekly open, we have some new insights, which of course i have to talk about guys, smash up the like button to a new all-time high. If you appreciate these videos in good times and and bad times, new all-time high, like i don’t know, 15 20 000 likes.
Let’S just do it guys. I would truly appreciate it. Every single one of you could go down smash up. The like button share. The video with your friends as it is proven right now on our channel.
You can see it the more you engage the more this vm content is carried out in the world. We are right now the most watched bitcoin video channel in the world. Thank you. So much for that, and now let’s go straight into the content. Let’S talk about the bitcoin price.
What you can see here is the weekly candles for bitcoin, and let me show you specifically what i’m talking about here. This is the um weekly ema ribbon, and i was talking about earlier: hey guys that doesn’t look too bad right. I mean we had it earlier. We had this uh close below the email ribbon right there and then the next week we kind of just shot us up to uh through the roof. Well, this time we got another close below the yemen river and i told you hey guys, no reason to freak out yet because sorry um, simply weekly close below without like volume, confirmation and without the confirmation in it of itself, it doesn’t really mean anything.
I mean you saw it already here in july when we had to close at 31 000. Well, i was telling you guys. I think this was the bottom. We went up to 69
Now we got another close below and i told you hey guys, no reason to freak out. Yet this weekly candle seems like it’s eating up all the bears and getting green.
Unfortunately, though, you can see that we failed to break above well, we broke above, but we didn’t close above. So we got now three consecutive candles here below the ema ribbon, and this doesn’t look all too good. It is a bad sign if we are closing a weekly candle or even two weekly counters below the ema ribbon. That being said – and this is definitely not good with that being said, though, let me eliminate that and let me talk about the bright side of life right i mean that’s, why you all need to subscribe to this channel. We want to talk about the bright side and you can see how this falling wedge, where people were literally laughing at me.
They were making jokes when let me quickly turn this around when i was talking about this falling wedge actually, which has a bullish bias about these converging trend lines. People are laughing mistakes, they said chris, it’s too early, it’s not uh legit trend lines, well, support and resistance is held so far. I was talking about it right here, uh geez um. Let me quickly delete this, and this one also. I was talking about it right here and well afterwards, you can see how perfectly the price – okay, the price action of bitcoin, respected these lines and also still respects the support.
So before you are going into your last, like your your last breaths and screaming, bitcoin is gon na go down, wait a little bit longer guys until this pattern is not broken. Unless we are not breaking this support and this horizontal support please at least remain neutral. Yes, it’s not very bullish on the weekly, i have to say with this close as long as we are not closing. This remain neutral because the moment bitcoin breaks this pattern on the daily is the moment we are potentially looking out for the price target of fifty one thousand, fifty eight thousand and eventually sixty nine thousand u.s dollars.
The better move price target, the technical, the technical target of this falling wedge. So the decision time is coming and i am telling you the decision. Time is coming until approximately the 25th 26th of january latest, probably even earlier within one week, we will decide bull market or bear market. We will decide you, ladies and gentlemen, thirty thousand two hours dollars or sixty nine thousand u.s dollars.
Now i wan na know what you think guys go down in the comment section and let me know what is your direction? Do you think we broke into a bear market or do you think it’s just another trap and we are going to break higher? I will be going down and i will be engaging with a few of your comments, guys always when some are popping up on the top, or so it’s always great to engage, and it’s always great to know what are your thoughts on the current market situation. Of course, if you want to be trading this event with this breakout soon in the pin comment, you will find the private link. If you click the buy but link, you will get 4100 us dollars on this link alone by clicking it registering it and after your initial deposit, you get this bonus completely for free.
On another note, we yesterday announced on relaunch com. By the way we are verified on twitter at relaunch.com that we have a new free, ido allocation we already gave out. You have to understand this guys, it’s very important to understand. That’S the utility of the token we gave almost 60 million us dollars out in free vpat tokens to you completely unlocked.
Then we gave our decimated few million dollars. We gave out rainmaker a few million dollars all for free for vpat holders, and now we have a few ideas: a new, a free, ideal location for you, guys um for this specific project, make sure you check it out. So a lot of utilities coming your way. Thank you so much for watching guys. Thank you so much for watching until the very end smash up the like button to a new all-time high and we are going to see each other very soon and the next one i’m encrypted as always guys as always bye.