Hello guys and welcome to the moon, my name is carl and i’m going to bring you this cryptocurrency video from dubai and um. I want to talk about the bitcoin price and the fact that we are seeing a um, a correction on this um. This current trend, basically we have been seeing a big weekly, uptrend and then we’ve seen a daily downtrend, and then we were trying to break into four hour uptrend. But it looks like right now. The bears have come back in.
We have to take a look at that. I think that we can still see, however, that the weekly uptrend is still there and the daily downtrend is still also there. So that’s that’s what i want to clarify by just going into the uh the chart here. You can see on the very very big time frame here. We have still a weekly uptrend.
If you, if you zoom out on the the bigger time frames, we have higher highs higher lows. That’S that’s great to see right um! You can see that this low right there is still higher than this low, which means that this trajectory of higher lows on the bigger weekly time frame is still intact. Now going into the daily time frame, we have here a high and then lower high lower high, and this is definitely our new lower high. Now this was kind of expected that at some point we get a lower high because otherwise yeah i mean this is not very strange, but what we need to see now, in my opinion, the very, very important on the daily timeframe here is to get a higher Low, so the previous low now is, of course down here, so you have this wick right there at approximately 42k.
If we do see a correction here, we have to stay above that level, because if we don’t, then this means that we essentially have a lower low, which means that this downtrend is still intact. So right now it looks like we’re trying on the daily and four hour to kind of break into a bull trend, but two things need to happen. First of all, we need a higher low, in my opinion here very important, so we need to stay above um. 42K, actually, i would prefer to stay above 45k stay above this region right there. So that’s the first thing that needs to happen, and then the second thing is that we have to break above 50 to 53 000.
If that happens at that point, i’m full on bullish, and i think that we should definitely go into uh multi-million dollar longs to play a huge bounce towards the upside and talking speaking of trades, i had a couple of trades that got completely wiped out in the Past 24 hours um because of uh the fact that we essentially saw this correction there and, like i said yesterday, i was hoping – or i was in hindsight um, seeing that i should have probably closed a couple of those trades before uh. We we had that lowered there, but um yeah. You learn from your mistakes and that’s what i’m doing now so uh, basically uh. We are still bullish on the weekly, but on the daily it looks like the bears are still in control because we’re still in this downtrend, as you can see right there, that is the update. Let me flip the screen back there.
Let me just do this um. Actually guys, if any one of you have a good idea of how to screen record videos like this without me having to put all of these things here, let me know down below that would be great, but there’s no other way to make these videos where you Can show the screen and the charts and still use the um, the voice recording but guys um. I think that that’s definitely uh the name of the game. Today we do have a clear uh uptrend on the weekly, clear downtrend on the daily and um. I saw ethereum also is breaking down below key support right now.
The question is: are we going to get a big ethereum downtrend? Maybe i can make a video later, especially dedicated uh for ethereum, um and um, but yeah. So, basically, right now we should wait a couple of days, maybe to see if bitcoin is going to get that high low. If we do get a higher low, then i think we should um take a new um stab at a new long position that that’s that’s! That’S my plan because um, i think that we’re still ultimately going to see that break to the upside very very soon, but uh i’m going to wait until we see that that low form which could happen in the next few hours, probably but guys.
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