Major Warning For Bitcoin Traders this huge dangerous Bitcoin signal is about to be flashing and we will be exactly discussed this together with the breakdown. We’re currently seeing on the price section of Bitcoin we will be talking about the most important levels of support below us and also our next trade and the orders that we’ve already set up.
So make sure to read the article till the end, it will be very important to read this article and can we once again share it back that will be incredible with that being said let us jump straight away in towards the content and once looking at the imminent short term we can clearly see the Bitcoin broke outside of the consolidation phase towards the downside.
Breaking Major Warning for Bitcoin Traders
And while we were starting to break toward the downside. We saw that Bitcoin was finding support on this very important level the $26.6K. We’ve been also talking about the last time around when we first initially were expecting to open up a long position. However, right now we also told everyone that we cancel that order and that we are actually waiting for another level lower.
Because, if we are looking at the four-hour structure for Bitcoin, you can currently clearly see that we’re creating a somewhat open rounding top structure which is an extremely bearish bias and a major warning for bitcoin traders better than what Bitcoin is currently creating. It’s very important to pay attention to this one the structure on the four hourly time frame is not looking strong at all and once Bitcoin breaks below this very important level of support right here that’s $26.6K.
We are actually expecting that Bitcoin is going to come down towards this level to $25000k. Where we think Bitcoin is going to be seeing a bigger bounce from why that level because if we actually look at the daily time frame. We do know we’ve discussed this several times before on the channel the $25000k was the previous Range High in the market. And if we are going to have the opportunity to loan this retest right here it’s going to be a gigantic opportunity of a lifetime and that is why we already set up my long orders on $25000k for a Bitcoin.
And we will be opening up this launch rate with more than 180000 US dollars in Bitcoin furthermore, only in the short term we can clearly see that this level so for providing support but what we can also clearly currently see is that we basically have seen a continuation of the downtrend. Ever since we broke below this small little uptrend right here yes we are currently bouncing from this level. But this is also looking like a continuation pattern because we’re consolidating while we’re in a downtrend.
So yes, while we are actually pretty bullish for Bitcoin in the long term. Only aiming at Short Term right now we think there are some danger signals that Bitcoin probably is going to continue lower and a major warning for Bitcoin traders also looking at this consolidation phase right here, we do know that if we going to look at the price target for Bitcoin it’s so far not been reached. Yet the price Target is all the way down to $25.4k so maybe we’re still going to see some more bearish bias pressures coming in toward the market.
So, we will be keeping our eyes wide open for that, so that is exactly what we will be doing with our next trade for Bitcoin we going to Long Bitcoin. Once it comes down towards that $25000k US dollar barrier and let’s say it is not going to be happening. let’s say Bitcoin is going to be already bouncing back towards the upside and we break above the previous high. Then we think this scenario is not going to be likely anymore and we’re probably going to see further continuation toward the upside.
But only we will be saying that if we confirm the break above this previous Range high right here so that $28K. If we break above this level we’re probably going to be flipping bullish for Bitcoin. So we just have to be a little bit patient because the $28k is also clearly the top-side resistance. So if you confirm a break above that we’re probably not going to see that retest.
So please make sure to take that into account, that is why we taking this trade because it’s a low-risk trade with very potential high returns. But we’re not guaranteed to get entered on we are not shorting it right now because we want to minimize the risks. That we are taking on this trade that is exactly our strategy right now to trade Bitcoin against a major warning for bitcoin traders.
Major Warning for Bitcoin Traders & Ethereum
If we are looking at Ethereum, we can actually see that Ethereum broke outside of the range. Here we can clearly see that Ethereum was providing resistance from the top side providing support on the lower side and currently we officially broke below this level and we’re seeing retest we’re seeing a retest of previous support that could potentially be flipping to resistance right now here. So, we think this is looking quite dangerous for Ethereum and we are not one thousand percent convinced that this actually is looking so strong for Ethereum.
We are currently creating lower highs together with lower lows, so we are not very convinced we are looking so strong for Ethereum, so be very careful with that one as well. We wouldn’t be necessarily longing for Ethereum right here from this point onwards further on, we can see that on the daily time frame for Bitcoin, we are about to be having a bearish daily Macd cross which could also be a very very bearish signal.
Because the last time this happened we saw some damage pressure for Bitcoin. Here as well damage pressure for Bitcoin ever about to be seen, another cross happening and once that happened we could see maybe once again some slight relief towards the downside. Before potentially continuing the uptrend for Bitcoin because yes if we going, to be honest bitcoin we are right now in a Bullish Trend most certainly yes for sure.
But, if I am looking at them in the short term. We think if we are going to see a small retracement right here back to $25000k. It is not necessarily a bad thing because we’re still in a bigger uptrend and that is why we’ll be looking at long positions. If we do have this re-test around $25000k, we can clearly see $25000k is the previous high right here. It’s a previous resistance right here and if we’re going to have the opportunity to long that level. We are most certainly going to be doing so further on we can currently see that the level to break is $28.6K.
We’ve been talking about this many times before once we do break back above this level that is the point where we will be flipping very bullish for Bitcoin. But as long as we’re not breaking above this level we shouldn’t be all too excited about Bitcoin yet so far. Also if we come down to $25000k it’s a perfect retest of the inverse and the shoulders which is definitely going to also indicate it’s a huge opportunity to trade Bitcoin.
So yes what we all doing right now here is basically minimizing my risks and maximizing my returns here. And that is why we looking to take this on our next trade right here so this is our next trade this is how we are preparing for it and this is exactly why we going to be a little bit more patient right now.
Anyways that was it for us on today’s update thank you so much for reading and learning. Kindly subscribe and share this with your friends for more tricks for day trading and daily update and we’ll see you guys on the next one peace out goodbye.