THIS IS MY BITCOIN BUY ZONE... *explained*

[00:00:00]According to this signal, this could be the last dip in this Bitcoin bear market that you will see. And that is why on today's update video, I'm going to talk exactly about why this signal is currently flashing, what it historically means for Bitcoin and for the upcoming period ahead of ourselves. Obviously, I'm going to go over the imminent short-term consolidation phase. We're currently creating this big volume resistance which we're currently approaching on Bitcoin. And of course, I'm going to talk about this big liquidity cluster that is piling up below us and above us right now here.

[00:00:37]And what this would mean right now here for the imminent short-term for Bitcoin.

[00:00:41]I'll discuss the exact sentiment that seems to be shifting right now on the imminent short-term. And of course, I'm going to give a big update again what I'm going to be doing next with my trade. And so much more will be getting discussed on today's update video. So, don't forget to straight away slap on that like button back above 800 likes.

[00:01:01]That would be highly appreciated. And let me jump straight away in today's update video. So, on the imminent short-term, Bitcoin remains to be sitting in this barrel channel which we're currently creating between $67,000 and that lower side region of $57,000.

[00:01:19]And like I mentioned on many videos before already, I said that yes, this 67K level here is not only the range high here, but also the big volume resistance. And it seems to be that this level is clearly providing some big resistance for Bitcoin. And to be very clear, after this level, if we are potentially going to clear it, this 71K level to about 70,000 US dollars is again going to be a big cluster of liquidity for Bitcoin. And you can see it also if you're just looking back at the history on Bitcoin. Major rejections from this level pre- previously as well here. So, in case Bitcoin breaks above this range right here, I think it could be moving all the way up to by this zone here, where most likely the next big amount of resistance is going to be found here. So, that is of course going to be very important to understand here.

[00:02:11]Also, if we're looking back at every single previous Bitcoin bear market, one thing we've learned from these bear markets is that Bitcoin bear market bottoms basically always get marked by nature capitulation in the market. So, whenever a lot of people are starting to sell off aggressively at the low and taking their losses is usually where the Bitcoin bear market bottom is formed here. And now we're already starting to see this signal again being emerged here. A lot of people are sending their Bitcoin to exchanges at a loss here. It could still come particularly bigger than it is already being like right now here, but already it is an interesting signal that is again emerging. So, if you don't want to be on the wrong side of history, it is usually a very bad timing to sell off your Bitcoin whenever it is trading below or around the 200-weekly moving average. Because that is this chart right here. Basically, every single time Bitcoin trades below the 200-weekly moving average, so it comes in towards that red zone here, it basically on this chart shows you the opportunity that is getting created. Obviously, here we traded below it for a little bit of a longer period of time here, but ultimately it didn't really matter whether you bought it over here or at $22,000, at $20,000, at $17,000, at $16, or even at $24,000, it didn't matter at all because Bitcoin, even if you bought it at the high of the region, still went up over 4x from off that point onwards.

[00:03:49]So, what I'm trying to say, this could indeed be one of the last Bitcoin corrections you'll be seeing in this Bitcoin bear market. I want to keep you guys in line of expectations and then I need to be saying yes, technically speaking this bear market is still going to be lasting another 70 days from of this point and is expected if history is going to be exactly repeat like it has been been doing before, but even often it tends to be rhyming. Uh we should be saying the same here. So, another 70 days of this Bitcoin bear market is most likely going to be here and that is why most likely we're going to still create another lower low here, but technically speaking we are indeed in the zone where the Bitcoin bear market bottom is likely to be occurring very soon here and I would more approach this as a dollar cost average region. I think it's a great time to dollar cost average into Bitcoin in this exact region we're currently sitting in. So, yes, I am super excited where we're currently trading, but there are just still some signals like I discussed for example in yesterday's video about the liquidation heat map. There is a ton of liquidity being built up below us and for example, there is right now more than 10 billion dollars in Bitcoin long positions and only 1.5 billion dollars in short positions laying above us. So, that means that there's about a 7x more in longs than in shorts open right now and that is giving us an extended liquidation risk here in the market. So, we can see it also over here on the yearly heat map. There is some liquidity building up all the way down to $50,000.

[00:05:31]I am not saying we necessarily have to grab it, but it is still a possibility, but on the wider things of it all here, are we right now at a great time to dollar cost average 1,000% in my opinion. I think it's a great time to DCA into the market right now because historically it doesn't matter where you buy in the zone here, but if you buy below the four-year average price on Bitcoin, you historically tend to be doing very well here. Then, of course, that is also one of the reasons why I am starting to be building up a Bitcoin long trade even though, like I said, this is most likely not going to be exactly the bottom. I am still have set up multiple orders below my entry already to pyramid entry in towards this exact trade here.

[00:06:18]So, multiple orders are set up especially right at 50 to about $47,000 I will be going massively double down on my long trade here. And if you want to be participating in this exact trade here, you do have the opportunity to copy trade my exact trades on Weex yourself as well. Or if you feel like trading yourself or copy trade me, don't forget to sign up an account to Weex using that first link below here. It's the best crypto trading platform out there right now. They are also offering a 25% fee rebate. And on top of that, if you sign up an account using that link below here, it's only valid to claim this deposit bonus, you can get an additional $200 up on registration and after you download the app in the App Store, they're going to be matching your trades with a free Ethereum trade and you will get that $30,000 deposit bonus and a 25% fee rebate if you sign up an account using that first link below. So, check it out. It is super valuable and by far also it's the biggest upcoming new cryptocurrency exchange out there, which is by far also doing the best liquidity as of for now here. So, yeah, I think it's a great exchange. You can check it out in the first link below here, but you also have the opportunity to copy trade me. If you go to Elite Trading and you just search up Crypto Rover you can find me and you can copy trade me with this exact trade, which I'm planning to trade the Bitcoin bear market bottom with here. You will not able to enter my trade. I've already entered, but you will be basically get the opportunity to copy trade me on my other orders I set up or if I change something with my trade here, you will be seeing it over there as well. So, that's super valuable and if you want to be checking it out, don't forget to do so. But further on, I want to talk also something about sentiment. So, technically speaking, Bitcoin officially, we are not out of the bear market yet here, but what we're seeing again here, like we have seen a couple times in this Bitcoin bear market, sentiment starts to be returning. So, before we were in this extreme fear period in the market, basically, we saw of course that everyone was panicking and now we're starting to get lifted and we're going to about 32 on the index on the Fear & Greed Index. And this is showing that people are not so fearful anymore. We saw also a slight relief here in this rally towards the upside to about $80,000. And then, of course, we saw a major turnover and a big drop towards the downside and sentiment was crushed yet again here. So, sentiment seems to be returning, but overall in the bear market here, you can see that we don't really become very greedy. And for example, if I'm going to be looking back at the previous bear market, a similar behavior was there here. So, we were extremely fearful, then we got a slight relief higher, people started to get relieved, and then boom, we had another crash and yeah, the sentiment was completely bad back again here. And then, the moment we basically went above the 50 in the bear market or the 55, that basically marked the end of the Bitcoin bear market. So, this again will be very important to be watching. The sentiment in the market is going to be critical. It's going to be important. And it seems to be that people are starting to become a little bit more excited right now here and are feeling a little bit more relieved. So, that is going to be interesting data we'll be continuing to be watching. Then, of course, on the funding rates and open interest chart, there's is necessarily clearly something emerging on the bigger time frames. If I'm going to be seeing something, you will be of course the first one to know here, but as of for now, there are not big changes, there are not big developments on this chart. And whenever I'm going to be seeing something very interesting, you will be of course the first one to be knowing here. And of course, I do know a lot of people are continuing to ask me if you want to be knowing exactly what I'm doing, you can ask me anything also in my Discord community. I'm answering all the questions. I'm trying to answer them every single week here. So, join my Discord community, the second link below here. I answered everything yesterday or the day before, and I will continue to do so next week again here. So, don't forget to also join my Discord community if you want to be staying up to date about the trades, but not looking to take any profits in case Bitcoin is going to be running higher. And of course, if it does come lower, I'm just going to be getting my entry on my other entries to bring my average entry price for Bitcoin significantly lower. So, I'm totally not worried about that. And if you by the way also want to be staying up to date on my exact spot portfolio, if you go to the fourth link below in today's video, you can check it out on my Twitter page where basically I'm doing weekly updates on my exact portfolio, what I'm accumulating, what I'm selling off here, and what the strategy is onwards. So, Bitcoin is currently starting to create some signals that of course the bear market bottom is most likely going to be in here. Like for example, um the Bitcoin profit and loss chart here. There's currently more supply in a loss than in a profit. And historically, this doesn't necessarily tell us exactly where the bottom is, but it tells us an approximate zone here that the bottom is extremely close here. And of course, this signal, if we're just going to be looking back anytime this last it is always flashed like at least 10 to 15% from the close to the bottom or already at the bottom here. So, that this signal was starting to flash was quite interesting. It flashed at the bottom.

[00:11:32]And of course, whenever this signal again will be flashing for a sustainable period of time here, it is most likely going to call a bottom. But already it is telling us that the bottom is coming particularly closer, just like the Bitcoin weekly bullish divergence we're currently creating. And one final thing I want to be saying here before I'm going to wrap up the video. Also, in this upcoming bear market or especially whenever the bear market is going to be ending, the moment I'm going to see Ethereum compared to Bitcoin break this major downtrend first of this lower high structure on the weekly timeframe, but especially the downtrend from the bigger perspective right here. If we're going to be breaking this bigger downtrend, it's going to be looking very good here.

[00:12:15]But what is going to be most important is to break the trend on the highs on the immediate short term here. So, whenever we're going to be breaking above this high, it could be create something very good here. Just like last time around here, the moment you break above the high was basically the confirmation we're going to be running higher. And after we did so, Ethereum ran another 43% higher. So, I'm quite excited and that would also mean that we're going to create on the weekly timeframe and higher low structure, which is ultimately going to be a great setup for the next Bitcoin or especially Ethereum bull run here. So, I'm going to keep you guys up to date about that here. I already showed you some insights on my trading portfolio and on my spot portfolio what I'm planning to do so.

[00:12:55]But yeah, I'm getting very excited for the next bull run, especially as Ethereum has not really performed very well last bull run, but I do think it will be doing so next bull run because this has been a theme throughout crypto in the last decade. So, thank you so much for watching towards amazing new update video. If you did enjoy it, learn something from this video, don't forget to subscribe to the channel, will be highly appreciated and I'll see you guys on the next one. Peace out.

[00:13:22]Goodbye.