Today for the bitcoin price – and you are probably asking yourself right now – what the heck is happening to bitcoin and to crypto right now i mean honestly, if you just go cryptocurrency spice uh prices, you can see there’s a huge sea of red everywhere.
Well, maybe, besides of v-pad, but basically everything is going down right now, and the most important question right now is, of course, is this the beginning of a severe bear market, or is this the last shakeout? Actually i want to go into the charts.
Actually, i want to tell you exactly what i am expecting for bitcoin right now, as you remember yesterday, i was talking about this being the last support. I was talking about this getting weaker every single time.
We are touching it and actually the breakout to the downside. Being more likely than to the upside – and i mentioned this price target of forty two thousand six hundred forty two thousand seven hundred us dollars – and you know what before i continue with my next price prediction for bitcoin.
Let me show you this in a clip here from yesterday’s video, where i was talking about that look at this 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 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.
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 and, as you can see, this is exactly what happened if we are going over to the chart.
Eventually, we broke it and i’m surprised myself. We exactly hit my price target like almost up to the exact dollar. Obviously, now we have to see what is this?
Is this just the beginning of something bigger or are we already hitting support? Well, first of all, let’s jump out to the daily candice. You know the deal when in doubt zoom out right and if we are zooming out on the daily canvas, maybe making this a little bit smaller, pulling out the um, the ema ribbon.
Sorry, not the ema ribbon the vpvr, then you can see that. Well, we broke this very important support line and now there’s a lot of thin air all the way down even to the 40.41. 000 us dollar area. The question is: is this gon na be the low for bitcoin? Are we even going to 41 000? Well?
If we are looking at the last time here right when we actually broke out to 64 000, we went down actually exactly to my worst case scenario. Why did i say back then it is my worst case scenario.
Well, it is actually easy as that, if i am just pulling out the fib levels here, all the way from the previous top to the previous bottom, then you can see we went down exactly to the fibonacci golden pocket right here in the at the 29 800 To 31 000 us dollar areas my worst case scenario previously for bitcoin so now the question is: is this right now the low for bitcoin? Well, if we are pulling out um the fibonacci extension level, you can see that already right now, in that exact moment, we are finally hitting the golden pocket, so chances are at least. Let me repeat that chances are that this is the bottom.
The golden pocket very, very often, actually serving as the potential bottom for bitcoin right now. We are in it right now. We are holding it right. If this one is breaking and only then i would be looking out for the previous low at approximately 40 000 uh.
Just as some kind of fractal player, i’m playing here right now with your this green line as it was holding before, but obviously guys take it with a grain of salt.
These are the things i am personally right now looking out for and of course, we have to revisit right now, the most important metric to distinguish between bull and bear market.
This is usually the ema ribbon and right now believe it or not. We are below what you have to keep in mind, though, is this is about weekly closes and the weekly closes in more than three days, so we did not close to weekly canada below remember. We were wicking below multiple times before it is about the closest. It is about volume confirmation.
This is what i’m telling you so bear with me guys. It’S just stay a little bit calm, but these are the things i am personally looking out for right now. Let me quickly go back actually to the camera mode and of course i want to talk a little bit more about how i am actually handling this whole situation trading wise before i am doing so, and circling back into bitcoin.
I wanted to remind you on the crazy updates we were here previously, actually giving that’s the reason why vpat is the only green in the sea of red, because people are going over to femax and the other like six seven. Let me quickly six, seven exchanges.
We are listed on already and more exchanges are coming. They are buying it there. They are staking v-pad because by staking v-pad you are of course getting insane apys and staking rewards weekly ram.
Actually, claimable uh, you get free idol locations, idea, premium, ideal locations, uh free nft. Soon, when the nfv launch pad is dropping whitelist spots for nft collections, i mean the utility is just going through the roof and of course it’s not always gon na be like that.
It’S just green days for vpat, honestly guys everything goes up and down, but we are just trying our best here and actually doing our best delivering on our promises and giving you everything.
We promised you before step by step. Everything is getting released and we are maxing out the utility. For this token, i hope you appreciate that, and now let’s go back here into bitcoin, truly amazing to see like the crazy vpat warriors anyways. The bitcoin price is here right now, of course, stumbling around and if you are also a long trader like me, just do the same.
Like me, i mean i’m just standing on the sidelines and waiting if you want a short fine, but obviously short squeezes are going to happen anytime in the future. I’M just waiting.
I am waiting and potentially i am putting some limit long orders around the area of 40 000 us dollars just in case we are wicking lower. I wan na be there and uh play a risky game here, actually with a limit long order. Let me know what you think about that guys and also make sure you are smashing up the like button to a new all-time high.
Hopefully, bitcoin is gonna reach that this year really really. I think we are all hoping for that. We are going to see each other very soon at the next one of mm crypto and as always guys as always bye, bye,