I’m going to tell you guys why currently bitcoin is in some kind of a falling wedge pattern and why this could potentially give a major major clue on the way the price will go in the coming days be ready because I believe a very very big move is about to happen so definitely stay tuned like this video subscribe and let’s get into it. Okay so right now I’m making this video well very very crucial point right now and basically my to really have done something extremely different but yes sometimes that’s just kind of happens but I’m gonna tell you guys really quick on what I’m right now seeing on the charts now shows no basement has been setting a low fees following witches and bitcoin continuously has very strong breakout out of the phone which is however right now it seems to be it’s going again said a falling wedge pattern but something very very interesting is happening right now so the following which is that you see right over here had quite a big and explosive breakout to the upside but this falling which seems to have a lot of a lot of trouble breaking out of this funk which could this be a major clue that’s the bulls are running out of steam no maybe when this video is online the bulls would have been able to push the price for order to the upside but yeah this is a very very weak breakout and this definitely in case there’s a lot of strength still from the bears and yet bitcoin might been able to push a little bit more food to the upside but I believe the potential is there for days to become a double top correction but you see the price moving one more time to the upside yet basically setting a double top and a double talk is mostly a very berry signed and then you’re looking for a price at least going below the previous low but of course there is much more going on right now because if you go on the longer time frame you can see something very very interesting so basically every time would be it’s going pretty much stops out it sets a double stop first before continuing to the downside I use all here very very large double top she’s very very nice and beautiful double top like debts but yet this was basically from fourteen K. and then this went down all the way to around seven K. and then you can see new double top right over here might be a little bit hard to. See what you can see over here double top and this cost again a big correction to the downside and if I go over here you again can see a double top or it may be a little bit off a triple top like that doesn’t really matter it’s still had quite a big of a correction to the downside and right now it seems like bitcoin again is setting that double top formation and in the last couple of videos I have been very very bearish bets when I told you guys to be put into running out of steam and a correction didn’t have to come instantly to the downside expression now it’s weekend I didn’t really expect any big price movements but yeah I believe that in the coming days it does look like bitcoin is setting up for a new move to the downside that was very very important about a double top pattern his dad’s the rights told so let’s say that one right over here should not go up off the left up over there if I go back to the previous top over here you can see that let’s see if this for instance Wallace the right to oppress you say yet that was just the right top and yet you can see the right told does not go up off the left top right over there and again over here you can see the same thing where the rights top doesn’t go up off the left soap and if I go over here pretty much the exact same thing very very beautiful where the rights all does not go up off the left open so yet as long as bitcoin doesn’t go above decent left up right over there I continue to stay berries if for some reason between does manage to push above the previous high over there then this would not be a double top and you’re maybe looking at a much much different structure but yeah I don’t really see that happening right now X. basically because between does seem to have a lot of trouble right now pushing to the upside in the last couple days basically did have quite a bit of strength.
But yes that you can see bitcoin data run out of steam and it started to have this correction to the downside no it is very important to talk about is that between did manage to break above this downwards resistance trend line you can see that it had a nice push to the upside wanted brocades but this is very very weak this is a very very weak push and this is a very very important trendline and affected between broke this so weak to the upside is not a very very good sign I would have seen a much much nicer quicker move to the upside but so for bitcoin really doesn’t really seem to do a lot and so this could indicates to me that this is potentially fake out and that’s between will have a new move to the downside now let’s also not forget that bitcoin has been showing some signs of weakness for instance it has been setting some lower lows over there so potentially you could be looking at bitcoin visiting those levels and yet bitcoin also looks like it is right now setting a new lower high which would indicate to me as well this is going to be that’s double top so yes this is not looking too good for me right now I have continued to stay bearish on bitcoin now to see my future markets right now are closed and as you guys may know when Dixie may future markets are closed this is generally not a lot of price action happening on bitcoin so that’s probably also one of the reasons why bitcoin has continued to go a little bit side based on this level now bitcoin did manage to break above that fifty mail daily but you can see that the breakout is extremely weak in the past when bitcoin broke both his MA you can see that a very strong move to the upside yes right over there again strong move to the upside and over here quite a strong move to the upside as well and yeah right now between isn’t really showing too much strength which again could indicates to me that this is going to be a little bit off a fake out now is there still a bully scenario well of course there’s all. Always a beautician Ariel and I do want to talk about some potential things that could potentially happen now the first thing is a bit winded broke days resistant trend line and it started off quite weak but there is of course still potential for bitcoin to maybe continue to the upside wait maybe says a little bit of a double bottom over there and goes above the previous high and as I said this will be its windows Spanish to go above the previous high but it’s very very unlikely that this is going to become a double top so do you might be looking at a continue to the upside as well so right now it does seem that this one is as well in a falling wedge pattern and even though it does look like it’s falling wedge pattern is quite weak it’s Mike still being able to have quite a big move to the upside as well because she had the last four times a bit too and has being inside a falling wedge it has very very strong pushes to the upside so yeah right up it’s going against in a falling wedge pattern so maybe it’s will again have another strong push to the upside now it does pretty much everything wants to talk about in this video make sure to check out to defeat the channel the links in the description I talked exactly about days of falling wedge and I’m also going to be sharing in the FIA P. channel how I’m going to be trading this potential double top pattern to the downside to definitely check it out if you are interested and as well check out the free telegram channel boat links are in the description thank you so much for watching make sure to like and subscribe if you enjoyed this video I appreciate me give my honest opinion about the markets and I’ll see you guys in my next video bye bye.