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In this educational video, we provide a clear representation of how the market cycle works, specifically focusing on the formation of the Bitcoin top. By understanding the market cycle and how price action is manipulated by market makers, you can gain valuable insights into future price movements.
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Disclaimer: Please be aware that cryptocurrency investments carry market risks due to the high volatility of this market. It is crucial to have a good understanding of what you are doing in order to make profitable crypto investments. The information shared on this channel should not be considered as financial advice. We provide our views on the market and illustrate market movements for educational and awareness purposes only. Always conduct your own research before investing in cryptocurrencies. Trade responsibly and only invest what you can afford to lose.
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#### Video Transcript:
In this video, we will discuss the future price action of Bitcoin and how it forms local tops and bottoms. We will explore the concept of the market cycle and how market makers exploit price movements to their advantage. Stick with us till the end of the video for valuable insights.
Welcome back to Hybrid Whales. First, let’s take a look at the daily chart for Bitcoin. We are currently on track to test the liquidity zone around $31,000. Previously, we expected short-term support at the previous resistance zone of $29,550. While we did see a downside move, the price quickly bounced back up. Keep an eye on the important support levels at $29,500, $28,800, and $28,100.
Now, let’s dive into the main topic of this video. Looking at the one-hour chart, Bitcoin is currently consolidating between $29,870 and $30,250. We have seen two moves, one up and one down, but both were not sustained. To understand future price action, let’s discuss the market cycle.
The market cycle can be observed on different time frames. The price moves in a W formation, signifying bottoms and tops. We have level one rise-retrace, level three rise-retrace, and level five rise, followed by a top formation in the M-zone. Then we see a break below the previous support, leading to another bottom and repeating the entire market structure.
Now, let’s apply this to our current chart. We have seen a downside move, an upside move, and a consolidation. To make sense of this, we need to look for a top formation. Bitcoin usually forms tops with a big move up but no follow-up, creating a stop-hunt zone or a liquidity grab. Then, it consolidates before making another move up. If we compare this with the current chart, we see a similar pattern.
Currently, we have seen a push up but no follow-up. We attempted to reach the price zone of $30,800 but couldn’t quite get there. I expect a move towards this zone, around $30,800 to $31,000, as there are significant short liquidations totaling $26 billion. The market maker will likely aim to liquidate these shorts before potentially moving back down.
In summary, we are looking at a potential short-term reversal for Bitcoin if it fails to go past the $31,000 zone. A retest of the previous resistance zone as support could be expected. Stay tuned for further updates and analysis.
Source: [Hybrid Whales YouTube Channel](https://www.youtube.com/channel/UC4nhL_AYk-P5QAgmfv-H2Hg)
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In this video, we do a clear representation of how the market cycle works, and how the Bitcoin Top Formation occurs in the cycle.
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If you liked the video, don’t forget to LIKE, SHARE and SUBSCRIBE. Your support is extremely appreciated.
Disclaimer: Cryptocurrency Investments are subject to market risks and this is a highly volatile market. Knowing what you do is the key to profitable crypto investments. Nothing shared on this channel is Financial Advice. We share our views on the market and depict market movements, everything shared here is strictly for educational and awareness purposes. Do your own research before investing in cryptocurrencies. Trade Responsibly, do not invest more than what you can afford to lose.
I totally agree with what you are saying..,, T.A is all well and good but I find it truly baffling that all major stocks youtubers just look at pure TA and completely Ignore the bigger narrative of why stock Is pumping and why the future outlook might not be as rosy as it seems. It's kinda irresponsible to ignore the fact that each ETF launch so far has caused a major pump at the peaks of stock.. We were already on shaky footing with historically low volume and almost pure whale pumps, narrowly avoiding a long-term bear market…more emphasis should be put into day trading as It is less affected by the unpredictable nature of the Market..I have made over 9 B.T.C from day tradng with Greg Nelson, insights and signals in less than 6 weeks, this is one of the Best medium to backup your assets incase it goes bearish.,.
<I love this!. Please what is the best way to make money from crypto investments this period?
Been making my research lately..