BITCOIN: NOOOO!!!!!!!!!!

Added: 2026-05-13

[00:00:00]The Bitcoin price has broken out of the symmetrical triangle right here on the hourly chart. And guys, it has broken towards the downside. However, there are a few things which are worrying me about this breakout. First of all, we broke down to $80,361.

[00:00:18]There is actually a CME gap all the way down here, $80,200.

[00:00:24]So, in my opinion, we will be going a little bit lower. If not now after posting this video, then it will come in the next day or two. Also, the break was not so great. We dumped down here and then saw a pump back towards the upside from this known level of resistance and support right there. In my opinion, Bitcoin has not got the strength right now to continue pushing down as of right now. There are a few more factors which we need to talk about in today's video before the Bitcoin price pushes all the way down there. I want to talk about that. I want to talk about these CPI data for April as well because it's way more than expected and that is of course having a knock-on effect for the Bitcoin price. As always guys, sit back, relax, and get ready for the video. All right guys, welcome back to another video and thank you for joining me once again. As always, a massive special thank you to each and every one of you out there watching my videos. To give back to you watching at home, I'm giving away $100 every single Monday. Yesterday, I gave it away, so check back. You could be a winner. Drop a comment down below saying literally anything. It takes 2 seconds.

[00:01:27]And if you got a spare further 2 seconds, drop a like on the video. That would be amazing. The sun is setting behind me right now in Dubai. It's very beautiful. But let's take a look at the charts. And of course, I'm not a financial advisor. I am just a guy called Jack in his room making videos about his journey in crypto. From the UK, USA, or UAE, please do not watch or engage with my content. So, the Bitcoin price. We can see right now the chart here. And we have had a break towards the downside, which may be a little bit positive positive for the bears, a little bit negative for the bulls. And we can see if we take the measured move from this breakdown, it would put us all the way down here at approximately 77,400 US dollars. However, we have a few caveats before we can reach that. First of all, we have this little level of resistance right there. And then second of all, we have this level of resistance right here, which is actually a reasonably big level of resistance. We can see back here on the 22nd of April, we had a peak right there. And it's combined with this bear flag as well. We see right here and we can see right here and right here as well. So, it's a a rather large level.

[00:02:33]Even if we do break down to the 79k, I think we would see a bounce, in my opinion. And honestly, I'm not so convinced, in my opinion, of this break towards the downside from this hourly time frame symmetrical triangle right there to the downside. I'm not so convinced. If we take a look at the daily chart for this chart as well, we can see we are actually In fact, let's go to the four-hourly.

[00:02:56]We can see we are actually playing out still to this rising wedge pattern right here. We can see we are playing out in this pattern absolutely perfectly right here, bouncing perfectly each side. And probably there'll be a level of support right here at approximately low 80,000 is actually at 80,200 dollars, which is perfectly coinciding right here with the CME gap at 80,200 dollars. So, potentially, we could see a dump down to CME gap right here, which I tweeted about, down to this lower level of this rising wedge before even seeing a push up back towards the upside to maybe even 83, potentially even a fake out up here to the golden pocket, which we can see right here. And also closing that CME gap before getting rejected towards the downside. The liquidity is building up as well, guys. We can see here, we've got each day that's passing, more liquidity is in fact building up right here at this level right here at 77,000 US dollars. It's getting ever more dangerous to be at these levels right now, guys. And as we can see right here, if we do in fact go ahead and get a drop towards the downside, this could be very, very detrimental to the Bitcoin bulls. Of course, if you're a bear, it's absolutely amazing. You're going to make a lot of profit. And I am, of course, guys, still in my trade. I I'm expecting not only what I just previously said, but also a bounce from this line coming down to potentially low 80s right there, and then bouncing back up to this semi gap. My liquidation price is currently the same at 85K. I've not changed it whatsoever. So, keep that in mind, guys.

[00:04:36]Of course, if you did want to get a much better entry point than I have, you can go ahead and down below today's video, you will see a link right there, and you can go ahead and join Youbit. If you do join Youbit using that link, make yourself an account, download the app, you're going to get a $1,000 completely free to trade with, and of course, you're going to get a VIP 2, which is in fact a 25% fee discount, which is amazing when you are in fact trading. If you don't know how to get that free $1,000 trade, there is also a link right there with a video you can watch on my channel. It's got over 20,000 views.

[00:05:09]There have been thousands of people that have in fact signed up for this free trade. I mean, it is actually a free trade. You don't need to deposit anything, which in this market, in this day and age in crypto, is absolutely beautiful, in my opinion. So, go ahead and make the most of that. I will be talking and updating my trade. I have added margin to my account or balance to my account, and I will be making a large trade very, very soon. If we are taking a look at this right here, breaking April CPI data showing inflation is up more than expected. And uh yeah, this is definitely not good news. That's why if we take a look, for example, on the hourly chart or the 30-minute chart, we are starting to have a little bit of a dump on the on the more recent time frame, sorry. Exactly right here. We are starting to have a bit of a dump. That would be explaining this exact CPI data right there, but it's really nothing too substantial. It was around um 1.1 uh percent um more than expected.

[00:06:05]Consumer prices rose 3.5 3.8% annually in April, the highest since May 2023, which is absolutely ridiculous. And he says right here, "Thanks, Trump." Oh, and it's not even factoring in the massive gas increases that we have seen.

[00:06:21]Even in Dubai right here, I've noticed Previously, I was filling my tank up uh for in the car uh filling my petrol tank up, and it was approximately 40 or pounds or maybe I think it's about $50, and now it's about 60 to $70. So, I am actually seeing a little bit of an increase in gas prices. Of course, much cheaper than Europe Amer- maybe not America, but uh it is cheaper than America. Much cheaper than the UK and Europe. However, it's still an increase.

[00:06:47]And of course, this uh rise in um in the CPI data definitely has shocked the market a little bit. As we can see right here, guys, I am still waiting on the weekly time frame. I'm waiting for a confirmation close right there. I'm going to be keeping my eyes absolutely glued to the charts this weekend. It's a big weekend for football this weekend. The Premier League is closing. We've got the FA Cup final, Manchester City and Chelsea. So, I'll have a one eye on the charts and one eye on the football definitely this weekend. But as you can see right now, as of now, we are back into this bear flag situation right here. And the weekly candlestick right there is very nicely It's a juicy amount back into this bear flag right there. And if we take a look at the daily chart as well, it will start to look uh it will start to unveil itself just a little bit more.

[00:07:39]Exactly like we did here, here, and here, we have got rejected once again.

[00:07:43]And if we do see the target of the even even not the target of the bear flag, guys. Even if we just come down to the lower level of the channel right here, it would be pushing down here at approximately 70,000 US dollars. And if we were to in fact take a look at the target for this bear flag right there, we can go ahead and copy this little stick right there. And uh we can see the target would be down here at 40,000 US dollars. So, as the sun is setting in Dubai as I said, let's not take this $40,000 target into too much consideration because I think it is a little bit low in my opinion. So, that's pretty much it for today's video, guys.

[00:08:20]As always, I'm not a financial advisor.

[00:08:21]If you're in the UK, USA, or UAE, please do not watch or engage with my content.

[00:08:24]If you did want to go ahead and get a free trade over on Ubit, please go ahead and do so. And also, don't forget to go ahead and check out Chart Chasers, guys.

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