Athena Index score: pending/100
[Music] height is less you hope you're well and welcome to another update on Bitcoin in this video going to take a look at the recent drop in the price of Bitcoin and what this potentially could mean
could be a first indication perhaps of a reversal a bullish reversal on the price of Bitcoin similar to what we saw in 2013 when it started the next uptrend higher
showing to us an increased probability of a staircase pattern the very signature of an uptrend or indeed of a bull market
our next wave 3 targets at about the 10200 level now into view and I think very likely by February
If you can get above that level that would be a very strong bullish move
as long as it maintains this it looks pretty good and it looks like a brand brand new uptrend here on Manero
if it falls below 55 or 57 that said forget it this is a this is a failed rally
we could have a potential perhaps a bit of a pullback some kind of retracement
as long as it remains about 77 the key support this could have further upside to it after a potential pullback
if it falls below 77 forget I'm not interested because that could potentially disrupt the uptrend
the most I would expect Bitcoin to fall down to if it were to drop any further lower than yesterday's lows would be the 34 EMA, which is about that level is about uh 9,000. Yeah, 9,360.
I think that uh the pullback here we've had to the 21 daily moving average is likely to complete...between the 20th to the 24th of February.
I'm looking for the next major rally leg higher above the previous highs to move towards 11,000 and 12,000 and potentially higher levels.
if the price of Bitcoin were to drop below the 34 EMA...then I will have to change my mind and consider a much more deeper pullback down to the 200 moving average.
we're probably overdue now for some kind of retracement or pullback to support and I think it's quite probable that we're gonna start this pullback very soon in the next I think potentially the next f
I think a pullback down to the twenty one moving average here at nine thousand three hundred is probable
complete the pullback between between the 13th of February to the 16th of February
if Bitcoin were to go back above 10,000 again that would mean the odds would increase for another major rally leg higher
our second wave 3 target was ten thousand two hundred we haven't yet reached it as I'm making this video we might reach that level ten thousand two hundred perhaps by DN a-- today or maybe tomorrow or
it could be telling us with a high probability that we are the start of another bullish rally like the one we saw last year in 2019