Prepare yourself for the next move on Bitcoin!

Added: 2026-05-12

[00:00:00]Hello my fellow corra fam. Uh let's jump straight into the analysis today. Today is just a quick update here. We are seeing some changes in the market. So I wanted to give uh some update here. We are seeing a small pullback here on Bitcoin and there are a few things uh we're going to look at. We're also going to look at the stock market since all of you are requesting me to give an update here on the stock market on a daily basis. So on the daily time frame, I still believe that Bitcoin could potentially come to 90K. think I mean this is very likely in my opinion as I stated that there is still this uh empty volume gap ahead of us and we don't see any resistance in my opinion until 86.2K and then we also have the shift pitchfork median line at 90K. So as I stated previously we could very easily see a one two three right now entering a fourth wave and then continuing up in a fifth wave. I still don't see any major warning signs for a big move down here uh on Bitcoin. Moving on to uh the second chart. I shared this yesterday on Twitter. So if you want you can follow me on Twitter here at King Cobra Trader.

[00:01:00]This was the exact same chart here. H and since then we have printed one red daily candle. So I'm still looking for a larger time frame fourth wave here to form since I we I believe we have now completed a 1 2 3 4 5 towards the upside. Here we hit a small resistance zone. You can see it clearer on the 8 hour time frame. You can see where we drew the uh supply zone from. So we are drawing it here from this green candle here before then we have an impulsive move down and this usually creates uh sell orders here that are have been left since bitcoin is going sideways then we had this impulsive move down so here is resistance and we have rejected from this resistance possibly the fifth wave is now in here on the smaller time frame and right now this is ending the larger time frame third wave here on the daily time frame and I'm now looking for a fourth wave once again the market is relatively bullish here overall. So, I don't know how deep this fourth wave is going to go. This is not me saying short Bitcoin down to 76K, but what I'm saying here, 76K is going to be a very juicy area to expect the larger time frame.

[00:02:05]Fourth wave here. Remember, fourth waves can be tricky. They tend to go sideways.

[00:02:09]So, we can see some more chop here.

[00:02:11]Maybe something like this before then we get a move higher. Just keep that in the back of your head. Fourth waves are not very smooth. Usually you don't. It's rare that you see something like that.

[00:02:22]But what I'm really looking at here 76.7K or 76.8K.

[00:02:28]Yeah, 76.8K is a very juicy area to go along here. And then we're targeting this uh larger time frame supply zone which also correlates with the median line. So we're around 90k and then from there we are going to expect a larger correction to form. A few things that are changed today. Looking at the liquidation heat map, we can see there's quite a lot of liquidity forming below us. all the way down to around 76K. So, if we sweep all this juicy liquidity here that is in in yellow and green, this was more or less take us to our 0.31 target sitting here uh below us. Uh so, I'm still looking at this basically taking place and I would like to see this move continue to come a bit further down on Bitcoin. Also, pay attention to also that you stack the 0.31s here. I forgot to mention that as well. That's why I have this green box. So you can use the the start of the second wave here and also the start of the first wave from the smaller time frame alo wave count. Uh so we're using these two pivots here and you get this nice uh confluence here 75 and 76k uh on Bitcoin here. So I really hope to like to see this move going down. By no means I'm shorting at the moment but as I said I I prefer to see price coming a bit further down here. That give some nice opportunities for us in my opinion.

[00:03:44]Another thing that I saw today that we haven't seen for a very long time is the open interest. So today we can see we might actually zoom in here on the 4hour time frame. We can see Bitcoin dropping a bit here today and open interest slightly going up. I mean nothing too major but this usually means that the trend is probably going to continue a bit further down I believe looking at the open interest chart because the open interest did not did not close red or did not print any red candles today but Bitcoin did. uh but this is really smaller time frame so this is not anything too major to pay attention to but this could be start of a correction basically to 76k if we continue to see this pattern where bitcoin drops and open interest remains flat because open interest is still a bit elevated I mean it's has been very sensitive to bitcoin's price action only today we haven't really seen it take any bigger move slightly to the upside so I hope we can continue to see this correction uh go lower but the overall microbasis thesis is towards the upside on Bitcoin.

[00:04:47]So that's kind of it for today. We can also look at the larger time frame uh chart as well. Let's come here on the three-month chart. This was one of our predictions one month ago. We spoke about this three monthly candle closing green and we still have one month and 19 days left.

[00:05:05]So so far very very beautiful uh and I don't expect any larger correction to take take place on Bitcoin at the moment based on price action. So that's kind of it. I mean we can quickly look at Ethereum here as well. Ethereum is still inside this u let's go here on the daily time frame.

[00:05:24]Currently I'm really not looking too much on the smaller time frames just because this price action has been so choppy especially on Ethereum. So on Ethereum, I'm still looking at 2,217 to get hit here, which will be the 0.31 pull from the first wave here towards the fourth wave. So I would like to see this 0.31 getting hit, putting in the fourth wave in here, and then we can possibly break the resistance above us and start the fifth wave towards the upside here because we are still below the micro 0.31. So Ethereum analysis uh remains more or less the same. No update there. Moving on towards the stock market. stock market. I mean for the first time we see in a long time we're seeing right now some red candles here.

[00:06:03]We're not too far off here. So currently from current level towards the median line we are slightly below 5% move. So four 4.8%.

[00:06:13]H I see a lot of people talking about that we hit this in a couple of weeks. I actually think it's going to take longer here because imagine if we're going to hit this in a couple of weeks that means we only have two more weekly candles here to print basically and move up. I think uh maybe the stock market wants to have some kind of cool off here. We already have this insane move here towards the upside. So we might enter a a period where we correct either sideways before higher or we correct something a bit lower than before higher and that could maybe take us towards the midline towards uh the middle slash more towards the end of the year. So pay attention to this chart. This going to be the fifth wave super cycle ending and then we can expect a larger ABC form. I mean is it going to follow the red squiggle here exactly? Pro most likely not. But what we are aiming for is a really really large correction here taking place. I mean this be this beachfork is just absolutely beautiful here at the moment. So I strongly suggest that you have this on your chart starting from 1974. So we are in the end times here for the stock market. I mean it is due for a massive deleveraging.

[00:07:20]So, we have to see, but I still think they we have more upside here this year.

[00:07:24]And I don't think we're going to hit the median line as soon as many people think because we still have almost a 5% movement. 5% move. It's not a small move for the stock market, especially at these valuations that we are currently.

[00:07:36]So, even though it seems like we're close to the median line, we are not that close. Remember, this is not the crypto crypto. This is the US stock market. And already this movement we have seen here is absolutely insane. So, probably we're going to have some time.

[00:07:48]we're going to cool off before then we put in the next leg higher. Once again, this is just pure speculation. I don't know, but we I'm just giving you what I'm kind of feeling at the moment and what I believe. I just don't see stock market continue to go straight up here.

[00:08:01]I mean, some kind of correction or cool off moment before then the next leg higher would make sense in my opinion.

[00:08:08]So, that's kind of it for today guys. I appreciate everybody for tuning in.

[00:08:12]Please smash a likes, leave a comment, make sure you join both the free Telegram and the free Discord. Both links are below. I'm very active there.

[00:08:20]And yeah, I share some interesting charts in the especially in the Telegram as well. If you're interested in the macro charts, make sure link down below.

[00:08:26]It's completely free to join. Have a great week, guys. I'll see you either if not tomorrow, I'll see you after tomorrow. So, either tomorrow, there will be a video. If not, the day after.

[00:08:35]Thanks so much. Have a great week.

[00:08:36]Bye-bye.

[00:08:38]>> Yeah.

[00:08:41]Yeah.

[00:08:44]You come for the king, then you best not miss. Only fools try to counter trade the Cobra's hits. Going long from the bottom, short from the top with medium precision. He just don't stop. Going long from downtown from the 031. Target smash TP out and the cobra's done. Snake and bake. Snake and bake. King Cobra.

[00:09:04]Snake and bake. Snake and bake. King Cobra.

[00:09:11]King Cobra. Cobra.