all right assalamualaikum everyone and welcome back to uh Bitcoin update today because uh it's been a while we haven't talked about Bitcoin so let's do it and uh the reason why I probably never never talked about Bitcoin is because nothing has changed too much for Bitcoin so you do have the left shoulder the head here the right shoulder and you have broken out of the neckline and you're looking for a technical Target to go to the downside unless you don't make a fake out to go to the upside but I do look at for Bitcoin on the one hour time frame is the following that you're probably making a triangle also probably something like this over here and something like that right over there so let's look how much we have to probably even wait so what I'm gonna do is I'm going to uh put something like this and we're also going to take another trend line and we're going to do something like that as well okay so this to me seems like a trend line going on and The Head and Shoulders technical Target is 24 000 24 120. all right so at the moment you do have some people are going to say it's like almost a bearish pennant where you went down and you're moving sideways and you're trying to go to the downside so what I can say about it is that you do have a decision coming until 25th of May so in three days we are going to finally learn exactly what Bitcoin is trying to do now there's an unpopular opinion for for some of the Traders about Bitcoin on the weekly because um some people believe that probably Bitcoin is uh doing something quite different uh that people are not noticing and that is Bitcoin could be on the weekly putting in a falling wedge you see that this on the weekly does look like a falling wedge as well and you might actually actually push to the upside and for me personally for some reason I don't know why even I mentioned this on Discord uh and I told my members on the Discord I don't know why I have a feeling that Bitcoin is going to make a fake out of the head and shoulders because some people are looking Bitcoin in a different way and that is on the weekly you're making something like this you're squeezing Bitcoin to the downside and that's your Perfect Resistance right there and you're also forming something like this as well where Bitcoin is in not in fact I'm trying to make a falling wedge and it's not actually making any Head and Shoulders at all and they also believe that Bitcoin is still holding support right right over there do you see that and it actually makes sense I cannot even disagree with anyone who believes this one if you told me that Bitcoin on a weekly has a different story I would agree with that and if you look at Bitcoin on The Daily it's also hard to argue that Bitcoin has a head and shoulders but the Bitcoin you know the weekly as well looks totally different to me as well so you're making in a support in here and you also equally making a falling wedge so Bitcoin in terms of the weekly still is holding support and I would rather go with the weekly right now considering that the altcoins are also really really down and if this is actually a falling wedge you do have time until 5th of June next month which is actually probably going to be 13 days from now and after 13 days we're gonna get to know if you can pop up and try to push back up and if you do go up here you break this one and then you're you're good to go to actually all the way to thirty seven thousand dollars probably so that's it for this Bitcoin update hope you enjoyed this one and it makes sense to you and I'm going to see you the next one will office
