THE BIGGEST BITCOIN TRAP EVER... *extreme warning*

Added: 2026-05-31

[00:00:00]I have right now proved that on this drop towards the downside on the Bitcoin chart, more and more positions are getting opened and these positions that are getting opened are long positions and this could mean something very catastrophic for Bitcoin. So that is why on today's update video, I will give a big update on my $400,000 profit that I currently have on my Bitcoin short position, what I will be doing next with my short trade.

[00:00:27]Obviously, I'm going to go over my price targets on Bitcoin. I'm going to go over the most important levels of support we're currently retesting and ultimately what my price targets are going to be here. So, without any further ado, don't forget to once again watch this video till the end. It is for sure going to be a very interesting video. I'm going to go over where I think Bitcoin is going to be bottoming, where I will be locking in my profits. So, don't forget to once again slap that like button back above 600 likes. that will be highly appreciated. And let me jump straight away in this video. First of all, I want to be mentioning that Bitcoin has fallen outside the top 10 biggest assets in the world. And ultimately, yeah, for the imminent short term, it is not nice here. But ultimately on the long run, we're going to be making such a big comeback and the opportunities that we're going to be getting while Bitcoin is going to be dumping towards the downside are going to be making it far greater and greater because if we're looking at the imminent short term, Bitcoin is currently clearly retesting one of the most important levels of support. Here you can see this exact level which I'm pointing out there on that bare flag pattern on Bitcoin. Every single time so far we've retested this exact level, Bitcoin has bounced from off this exact zone here. And now again, we are retesting this level. And the moment Bitcoin is going to be breaking below such kind of a bare flag pattern, just like we saw last time around, we are most likely going to get massive volatility towards the downside. So this is for sure a critical level of support, Bitcoin is retesting. And just like actually last time we saw uh the last time Bitcoin retested such a level, we actually held on towards it for about four to five days here before we ultimately break below it. So currently again I would be expecting a big amount of support is going to be mounting up around this region over here. But let me go over right now why I remain to hold my short position open. Because yes, if I am looking at the data guys and this is truly quite shocking data if you would ask me here. Uh first of all I want to go over the open interest that is basically the amount of positions that are building up in the entire cryptocurrency industry. And this is very interesting because on the last uh big corrections basically over here we saw two times a very big open interest was mounting up here. And basically usually whenever open interest is mounting up here you usually get either a long or a short squeeze. And here and over here on this big correction towards the downside, everyone was starting to get short on Bitcoin. We saw the fitting rates of course going very negative and of course what did this mark? This marked a big short squeeze and Bitcoin moved towards the upside. Then of course we saw actually a long period of not a lot of open interest in the market. But on this most recent correction which we're currently getting here, we are starting to see something similar emerge because open interest has been rapidly increasing. And when I say rapidly, I mean literally by 15% here, which is quite a lot in the open interest market.

[00:03:27]And while this is happening, the funding rates have started to go very positive back towards the upside. In this entire consolidation range, it was mainly negative and it was sitting a little bit like um eco like sometimes positive, sometimes negative, but it has been for the last period quite positive here and that means that a lot of people are building up long positions in the market because while open interest is being added, funding rates are rapidly increasing. This means there are a lot of long positions being opened in this market while Bitcoin is indeed moving towards the downside. And literally every single time we do see this behavior just like for example the last time we saw this major increasement in open interest we saw it exactly over here Bitcoin was dumping towards the downside. Open interest was increasing and we were seeing funding rates going positive and that means that we're going to get another long squeeze and that is why Bitcoin moved quickly towards the downside. And here you can see the open interest was squeezed all out here. And then of course we saw this big buildup of open interest of short positions and then we got the long squeeze. So yes, whenever I'm going to see a different signal like open interest being built up, finger is going negative, we're most likely going to get a short squeeze. But as of for now, everything is pointing out that we're about to get a big Bitcoin long squeeze. And last time this happened, for example, Bitcoin dumped uh about what is it about 31% here. And that was just a squeeze of about 16% in the open interest. So that is actually quite massive if you would ask me here.

[00:05:01]And of course, since we're also on the point of that bare flag breakdown and the last time that big open interest squeeze came here was also of the breakdown of the uh of the bare flag pattern. And now once again a lot of people are going long on the support uh of the barefl pattern or basically on this horizontal upper support line which we're currently creating. Well I personally think that is not a great time to be going short on Bitcoin. And yeah I just want to talk about my trade here. Of course we've got a very great entry and I've discussed multiple times where my price target is laying. For example, the price target of this rising wedge pattern is laying around the low 60s. And for me, I still think it's going to be very likely, especially with this uh yeah, long squeeze that is most likely going to come up here. I will continue to hold my trade open since I do think still Bitcoin is going to be coming down a little bit further. So, yes, I will continue to hold this long short position open. And of course, if you did copy trade me, congratulations.

[00:05:58]you had the opportunity in my Discord community here which you can find in the third link in today's video description.

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[00:07:10]Here further on my trade uh because I saw a lot of people asking me this yesterday uh when are you going to be taking profits? I am expecting to lock in full profits in the low 60s. So 64 $61,000 and I will be starting to lock in partial profits from off the 70k onwards. So yeah, that is my strategy for my take-profit plan here. And as Bitcoin is going to be coming towards the lower side and potentially is going to be breaking this upper support line, I do think it's still ultimately going to be dropping a little bit lower. And in this region from 57 to about $52,000, I will be starting to be building up a big Bitcoin leverage long position. And with the profits I'm going to be making from this trade, I'm going to be building up an even bigger Bitcoin long trade. So that is for sure going to be very interesting. It's going to be a great trade in my opinion. It's going to be absolutely massive because espe especially if we're looking back at how we have played this cycle so far. Um it's most likely that in about two or three months from now on, Bitcoin is going to create its bare market bottom.

[00:08:11]Of course, everything is lining up here.

[00:08:12]If you track Bitcoin uh its uh price trends after the whole thing, yeah, we are approximately like 150 days out here on average where Bitcoin should be bottoming and we'll take this definitely in account here. Every single cycle is clearly different. We can clearly see this and for sure this cycle will also be different. But I do think history is going to be rhyming. So somewhere in that region from about 100 to maybe 150 days from now on, Bitcoin will most likely bottom. And that is why I think at the end of this year, Bitcoin is most likely going to create a bottom. And then for sure, I'm going to be starting to be building up these massive long trades because I am ultimately a big believer on Bitcoin. And as we're going to be entering the end stage of this year, I'm going to becoming just more and more bullish overall. And yeah, right now May is also flipping negative.

[00:09:01]It's becoming a red month. But this is just something very normal which we have seen in many previous bare markets because never in a bare market we have seen three green monthly closes in a row here. So this is just something very normal and we are starting to see more and more signals that potentially a bottom formation is being made here. And of course I've talked about the bottom formation many times before already. But uh yeah, Bitcoin I do still think it's going to be moving towards the downside because this over here is clearly not a bottom formation. But as we're going to be entering the lows again here, maybe the 50s, maybe the 60s, I do start to think that we could be creating a bottom here. So, I will be continuing to look at this very important critical support line. And of course, I will give I will keep you guys up to date about the very important open interest developments because this is for sure going to be telling us a very interesting story what is most likely going to be playing out next year for Bitcoin. So, this was it for me in today's update video. If you did enjoy this video, learn something from this video, subscribe to the channel. That would be highly appreciated. Stop that like button and I see you guys on the next one. Peace out.

[00:10:05]Goodbye.