THIS IS WHY BITCOIN IS DUMPING... *warning*

Bitcoin is crashing right now and on today's update video I'm going to be explaining about why we are currently crashing more importantly what we're currently seeing in the market because like I mentioned in previous videos currently we're starting to see a break of the structure which could confirm the next Bitcoin move down here towards new lows around $50,000 us so on today's update video I'm going to be doing a deep dive on the most important support levels below us the reasons why it's currently happening the breakout that we can currently see the trend that currently is continuing and many more important charts and patterns that are telling us something about what currently is playing out here in the market so without any further Ado don't forget once again snap the like button back above 1,000 likes it's going to be an extremely important one so without any further Ado let me jump straight away in towards the content So currently we can see Bitcoin is massively coming down again here after it first saw of course this bullies Divergence getting created we bounced towards the upside we're right now starting to create another leg down here where we are not creating any bullish Divergence whatsoever and the main reason to straightway tell you why we're currently coming down is due to the fact that the stock market is actually dumping and yes before we saw the stock market pumping and Bitcoin going down and now we're seeing the stock market dumping and this is even having an even bigger effect on the market right now here because every single time once the stock market does come down we tend to see Bitcoin follow twice as hard so this is the main reason why Bitcoin is currently falling falling down here and what I straight away want to be pointing out here is that currently we're starting to be breaking below one of the most important levels of support of this entire region which was of course the 57.3k and this is not just a level as support this is a level where the structure basically changed here because currently we are breaking below this level I mean I think we're going to be confirming a CLE close below it it's going to be closing in 1 hour if we do not close it below it's going to be completely different but clearly we can see the structure was first that Bitcoin was Finding support on this bouncing higher but then we actually confirmed a lower high on the top side we moved down we found this level still as support but then the bounce was too weak here and we confirmed an even more lower low on the top side and actually right now we're breaking this exact support level so the chart is not looking good here and since we're right now confirming the break below this level it is actually for me telling me that were at least going to be going down towards the previous low in the market which is laying around $55,000 and on this chart right here you can clearly see it the next low in the market is going to be this level right here which is laying around what is it 54.7k to 55.2k I think this is going to be the next level where some support for Bitcoin is going to get found here but yes really we're basically seeing the downtrend continuing and why wouldn't we actually start to see another lower low getting created in this trength since we're still seeing the downtrend continue and that is what I want to be pointing out here I mean I believe that the first big level of support is going to be this level right here if we can still B from of this range here we are not going to be confirming a bigger lower low on the bigger perspective and that would ultimately be still very bullish on bitcoin but if we then confirm the break below this level guys then we're going to get the confirmation that we're actually going to be looking towards levels around 49,000 us to$ 51,000 us and like I mentioned in very much videos before here if Bitcoin is going to come back towards that region here on the lower side we $449,000 to $51,000 guys I am definitely going to be one of the buyers in the market because I still want to be opening up that2 million Us doll Bitcoin long position and I'm only going to be doing so if I get a good opportunity and like I mentioned in much videos before here I think a good opportunity is definitely around this region right here but if Bitcoin already is going to be bouncing from off this range right here it is going to confirm still the structure on the bigger persp perspective so the structure on The Daily time frame could still in play here because the low that I'm talking about is basically this level right here on this chart uh and if we can still hold on towards this level it is most likely going to be confirming that we're still forming a higher low here on the bigger perspective on The Daily time frame and then the structure is still in play here so that is why I think this level is so important to be watching right now here and I will be personally looking at this level myself as well and I will update you guys as well in tomorrow's video on my X page so make sure to follow me across all socials because I will keep you guys up to date whenever we're going to be seeing a big breakdown or whatsoever and if there's going to be any massive moves and I need to be opening up a trade urgently I planning to actually open up a live stream here on the channel to open up my trade live with you guys out there so if you're interested in that don't forget to subscribe to the channel right now here but also if we're just looking at the market right now here we're just breaking below very important support and it is actually not looking so good for Bitcoin and of course the main reason you have to hold this in your back of your mind is due to the fact that the stock market is dumping it's not necessarily something related to bitcoin but the stock market is coming down and Bitcoin is following the Bitcoin already was quite weak in the past weeks already and what we can actually currently see here is that the funding rates remain to be negative even they become more negative and you can see that a lot of altcoins are getting hammered at this moment of time here the biggest pumps in Bitcoin always comp after the funding rates have been negative for a very long time here and currently the funding rates are still negative and they have been for a very long time here so the biggest bump always come after the funding rates have been negative for a long time here this is something you have to understand and you have to not forget at this moment of time here when things are getting a little bit more difficult I mean still the majority of the liquidity is laying around $70,000 and guys just like I said earlier in the video I'm planning to open up a multi-million dollar Bitcoin long trade if Bitcoin is going to come towards that lower region if Bitcoin breaks below this level right here I'm going to be planning to open up a new trade but of course if Bitcoin already bounces from of this level and we take out this high right here guys then I'm also going to be looking at an trading opportunity because let's say Bitcoin retests this low in the market then sees a strong bounce vshape recovery and breaks Above This previous high in the market I think that at that point then we could argue okay maybe there's a lot of strength in Bitcoin right now we confirming the higher low and we broke above the previous high and that is also a confirmation that we're probably going to be seeing more pushes towards the upside so this is basically how I am approaching Bitcoin right now here how I am doing it and yes guys if you already want to be setting up your accounts you can be also starting trading Bitcoin don't forget to go to the highest link description of today's video because if you press on this link right now you will come to this page on buybid where you can currently sign up an account and literally claim a free $500 US Air drop position by only signing up an account using that link below and completing kyc so if you are interested in that make sure to check it out in the link description of today's video but anyways guys let me continue with this video because currently on the bigger perspective all we're seeing on bitcoin right now here it's very clear is of course this lower High structure clearly lower highs together with lower lows and of course the question right now is are we going to create another lower low here in this market uh around 55,000 us sorry around $50,000 us or are we right now going to be finding support and this Bitcoin right now for the first time going to create an higher low for this uh for this trend here and basically reverse the trend here on the bigger perspective I mean that is the question we need to be answering and that is why we are doing the analysis on the deeper time frames but of course that question I actually already answered on how I would be confirming a higher low on this Market So currently we're still trading in a bull flag pattern and honestly I remain to be expecting Bitcoin is ultimately going to be pushing up higher and that is why I still want to be opening up long positions and we're just in in the moments before the next big bull market is going to get started I mean everything is lining up in an approximately 40 to 60 days here from now on the bull market should be starting so things are looking great only we're seeing an everage slide correction it is allowing us to be buying at a cheaper valuation so ultimately it is not as a bad thing as it currently seems here and I mean yes also here on the bigger perspective on the monthly time frame we can clearly see Bitcoin is creating a massive downward stopping resist line we're basically finding support from the previous atime high and yeah we're just consolidating and waiting to see whenever that breakout is going to be happening we're creating a falling wedge and of course on the US elections which is happening in 62 days right now here guys we're expecting a lot of volatility is going to be happening and usually the Bitcoin bull market tends to start to R the US election which is of course in November 2024 so it really aligns with the bull market projections as well here so this was it for me today's upd this video If you learned something from it don't forget to subscribe to the channel I think this video was highly educational and extremely worth it so don't forget to share this video with your friends and family but anyways thank you so much for watching and see you guys on the next one peace out goodbye