Today, I’m going to be talking about something very, very important. A lot of people are talking about the hair thing, but a lot of people are forgetting one major important thing that I will talk about in this video and as well as Bitcoin going to break this rising wedge to the upside or to the downside. I will tell you guys everything in this video. So definitely stay tuned. Lots of guys. My name is Thomas and I am a bitcoin trader. And in this video, I’m going to tell you guys what I potentially expect the market to do in the coming days and weeks. And especially I am going to be talking about the bullish and the bearish scenario in this video. So in my last video, I talked about a trading technique and I asked you guys, do you guys want to get more information about trading Bitcoin and trading in general and lower? You guys have left a lot of positive comments on my latest video. So I think it will be interesting to continue talking about trading Bitcoin and sharing some trading techniques and also talk about some potential trading setups. So that is something that I want to focus my channel a bit more on in the future. Now, keep in mind, I analyze the bitcoin market from a trader‘s perspective and not necessarily a holders perspective, and my opinion may change in the future. And as well, keep in mind, this is not financial advice now anyway. Bitcoin is in this A-rating, which better’n and basically a rating which pattern, as I talked about in my latest video, mostly breaks to the downside. But there is a possibility for this rating which to instead break to the upside. And Bitcoin has done something quite similar before. Over here it was in a falling watch. So this was the opposite of a rising wedge and a falling which mostly is bullish. This one broke out to the downside and a moment that it broke to the downside. That’s where it had quite a massive move. And so potentially you might be looking at the same thing right over here where breaks to the upside and has a huge parabolic move to the upside. But there’s also a chance, of course, that this is going to break to the downside. Now, first of all, I’m right now a little bit neutral on the price. I’m not going to be throwing in any predictions at all where I expect the price to go. This pump really showed me that the bulls still have a lot of potentials to move further to the upside. But as well, there is a possibility that this is going to be a giant bull trap before the market had lower. But I’m going to tell you guys the signs to potentially look out for in the coming days. You could potentially prepare for the next big move to the upside or downside and how you can potentially trade. It’s not the first scenario I’m going to be talking about is the bullish scenario. And what they expect for Bitcoin to have a bullish scenario is possibly some sideways action in the coming days or maybe even the coming hours. And then what Bitcoin will do is it will set a falling channel or the four hour RSI like this. And this is where it talks about in my latest videos. So if you don’t know what I’m talking about, check my latest video. But yeah, basically what I expect Bitcoin to do is basically get in its fine r_s_i_ channel. And then what I expected bitcoin price to do is go a little bit sideways. And then when bitcoin breaks this channel to the upside, that’s where Bitcoin might potentially have that move to the upside where it might as well break out of this rising wedge pattern. Yeah. Dennis? Well, you might be looking at a continuation of the bulls to the upside on bitcoin. It’s something similar right over there where it went sideways out right here on our site. It set that’s falling channel. So potentially it might be doing something similar. Now, what can, of course, also still happen is what Bitcoin is going to do, that it’s going to set over here, maybe potentially a double bottom and then have a new move to the upside. And Bitcoin did something similar over there as well. So a little bit of sideways action and or potentially a little bit of one pattern. I at least expect a little bit more sideways action. And the reason for that is because the four hour RSI is right now in quite an oversold condition. So I wants to RSI to first reset a little bit to the downside before I believe it will be ready for a new move to the upside. And yet it’s potentially something that I’m watching for and potentially something that I am going to be trading. Now, a bear scenario is a double top pattern. And I talked about this in a couple a few years back where I expect this to become that double top better. What actually happened is that this was a double bottom. So it was the opposite of a double top. But what might still happen is that this still plays out as a double top. Now, some people were suggesting to me that this maybe be one top and this maybe we want top to the downside. But a double top mostly never sets a higher rate up compared to the left top. And what I mean by death is if I go back to over here, we’re between two sets. That’s a double top pattern. You can as well see that the right top was a lower than the left top over there. And Bitcoin as well. Set a double top. Right over there and you can see the same thing, right? Top was lowered than the left top. And the same thing can be said of here where the right top was lower than the left top. So yeah, if this is going to play out as a double top pattern, what I want to see is between getting a little bit of correction to the downside, potentially bounce from the support line again to the upside and then set a lower low and then get a correction to the downside. That move breaks the switch to the downside. So that is potentially as well something that I’m going to be trading. And you have this is going to play out. I might put in a short position right over here and then I will put my stop loss up off the previous high. And yeah, then I would put my, you know, my exit. I don’t know, somewhere all the way down here. You know, maybe like the 6 K level because then you could be looking for quite a nasty correction to the downside. Now something that is going to be very important for the Bears scenario is going to be the bearish divergence on for hourly. So basically over here, back on the top, Bitcoin set a very, very clear bearish stuff. Merchants on our side where the price went higher versus the RSI went lower. And you’ve a moment a bit when did this. That’s where it had quite this big correction to the downside. And it did something as well. Right over there where it said that bears their fortunes on the 4 hourly. So if Bitcoin is going to be setting up for a correction, I actually want to see a four-hour divergence. Now, there is a possibility right now that this is going to play out as a four-hour version. So you got over here, the price went higher. But over here on the RSI, Darci went lower. So you might actually say that this is going to play out as a barrister, virgins, and that could potentially play out. But this is not a very nice example of a bearish divergence. So I’m not on a percentage sure yet if this is going to play out as a correction. But yeah, basically at this point of time now you kind of know what to look out for. And again, I’m not gonna be throwing in any crazy predictions, but yeah, at least you know what kind of signs to potentially look out for. And now I want to talk a little bit about the whole thing. But before I talk about the whole thing, make sure to like this video, click on the like button that really helps the video. And if you take my videos are really helpful, then make sure to press that like button to show your support. But anyway, what’s very, very important to talk about is the Bitcoin whole thing. A lot of people are bullish right now on Bitcoin and they’re expecting the price to go to the upside when the whole thing will occur. And one side, I agree with people. The whole thing should theoretically cause Bitcoin to go higher, because basically what happens is there will be less bitcoin in circulation, meaning that the supply will decrease. And if the demand will stay the same, then you would expect, of course, a rise in the price. A previous halflings have been very, very good for bitcoin. I put the white lines where the last whole things happened and you can see that when the whole thing happened that there would be a huge move to the upside over here. Last hoving resulted in a move of about 8000 percent to the upside. And the last whole thing back in 2016 resulted in a 3000 percent move to the upside. And right now, a new whole thing is coming up. And so potentially you might be looking again at a huge move to the upside. But as you can see already, there is a huge and huge difference between the two last haul things and the current whole thing. Now, the first thing that you can see is when Bitcoin had the whole thing back in 2012, Bitcoin really was in an uptrend for basically the entire year. And Bitcoin already increased about 400 percent. And when that whole thing happened, that’s when it’s moved to the upside, accelerated all the way over there to around eight hundred dollars. So, yeah, but you can see is that there really was a demand for Bitcoin before the whole thing. And when the whole thing happened, that’s supply even decreased, causing the price to go absolutely parabolic. And the same thing can be said about the 2016 whole thing. Bitcoin really had about one and a half years of an uptrend. And when that whole thing happened, that’s when that uptrend accelerated. And Bitcoin again got a parabolic move to the upside. But if you’re going right now to the current laughing, you can see a huge difference. And that is that bitcoin is right now in a downtrend. It has been in a downtrend right now for around a year. And so my question is, well, the other half is all have had a different market structure. And you can clearly see that there was a uptrend before the whole thing and then you can see that uptrend accelerating. And yet you can see that last hole thinks that beautifully played out. But right now, Bitcoin is in a downtrend. So theoretically, I would say that the whole thing is going to be positive for Bitcoin. It could potentially be looking at higher prices. That’s a very, very likely scenario, especially now that the dollar is losing a lot of value and out of money printing going on. You might get a lot of interest for Bitcoin and maybe you will see a bitcoin. Price rise higher. But as you can see, there is a clear difference between the previous last all things, so I don’t really think that it’s fair to compare the last 2 1/2 things with the current whole thing and two 200 percentage expect the same kind of price action. Yes, it could turn out to be positive for Bitcoin, but a lot of people are comparing to the previous hotfix with the current thing which I do not agree with. And as well, if you go to the RSI or The Weekly, you can see that right now Bitcoin is a little bit in an oversold area and the last two holdings between both were in an overbought area on the weekly our site. So very, very clear difference. And potentially, yes, it might still be very bullish for Bitcoin, but I don’t like to compare the two last haul things with the current holding. And so a lot of people are asking me, Thomas, what is Bitcoin going to do? Is Bitcoin still going to move to the upside with the current halving or is it still going to get a correction? So my answer to those people is I don’t know. I don’t really have a lot of data right now that I could potentially look at. I mean, you can look at the previous half things have been really positive for Bitcoin, but I really don’t like comparing the last 2 1/2 weeks with the current whole thing. Theoretically, the holdings are the same because all of them are on halving of the supply from the miners that get into circulation, basically. But yeah, I’m not sure if we’re going to be seeing the same kinds of price action to the upside. So I would say that the whole thing is bullish, but I’m not a 100% sure yet if it’s going to get a parabolic move to the upside. And also, it’s very important to talk about the stock market. It’s a stock market is going to get another move to the downside. Will Bitcoin follow and as well get that huge move to the downside and maybe go even lower into the whole thing? I mean, it is very, very possible right now. It is very, very hard to do any form of analysis. It is very, very hard to make any kind of prediction on the price, because right now the bitcoin price is going absolutely crazy. There’s a lot of scenarios open right now. The whole thing might be very, very bullish for Bitcoin, especially with all the money printing going on. You could be looking at bitcoin, you know, going to much and much higher levels. But of course, there’s also a chance that the stock markets will get a not a correction to the downsides. So at this point in time, everything could happen right now. The market is crazy in terms of technical analysis. I would say I’m a little bit more on the bearish side, but with the whole thing coming up, I’m a little bit more on the bullish side. But what I do want to talk about is this guy and this is the founder of the Silk Road if you know where he is, he created this Web site, the Silk Road, and you could buy things with Bitcoin on it. And yeah, he got arrested for it. And yet now he’s in prison. But he did talk about this potential scenario of Bitcoin getting a huge correction to the downsides similar to the correction I have been talking about. So basically what he has said is that Bitcoin wasn’t an impulse bull market to the upside and that right now Bitcoin is in a correction and in a bear market, he’s looking at a price of around 1200. So I think I start that my potential $2000 scenario for bitcoin was bearish. Well, this guy thinks that it can even go lower. But yeah, this is actually a scenario that in terms of technical analysis, you could be looking at this now you’re playing out and is well talked about gold and gold, did something quite similar where gold was in this very, very long and big uptrend. And then over here it said that double top and had that big correction to the downside as potentially might be looking at bitcoin doing something similar, whereas in this very, very long bull market and then right over here, it sets that double top and gets that correction to the downside. Now, do I expect this to play out? I mean, I do see a chance of this playing out. I am very careful about investing in Bitcoin, especially at this crucial moment. This has been talked about quite a lot by YouTubers as well. And this is potential, yes, a scenario that you might be looking at. But again, a lot of things going on right now. Everything of right now happening in terms of fundamentals. You might say Bitcoin is very, very bullish because the halving is coming up. Bitcoin is deflationary and there’s a lot of good cases for Bitcoin to be made both as well. On the bearish side, you might say we’re looking at the economy crashing further to the downside. But yeah, that’s everything about it to talk about today. Little scenarios open, a lot of possibilities open, but at least you know what I’m potentially looking at. If you enjoyed this video, then make sure to press the like button and well, make sure to join my free telegram. The link is in the description and I hope to see you guys in my next video. Bye-bye.