Hello and welcome to another update video about Bitcoin well not exactly a wild day today in the market uh we had a little bit of movement in the altcoin sector but Bitcoin is stuck um you know we we know about the stuff now after rallies we typically see days and daysAnd days if not weeks and weeks of boring sideway section but you know the longer this takes the higher the likelihood we finally get moving again so quick look at the daily time frame want to talk about Bitcoin dominance as well and total market cap then we take aLook at the shorter time frame wave count that however hasn't really changed but hopefully through the uh dominance chart and the total market cap we can add some new insights so looking at the daily chart this obviously also hasn't changed at all um I would still like toSee another extension in this third wave so the idea is that off the November 22 lows the market ried in a wave 1 and a five-wave move we have this three-wave pullback after the three-wave pullback we started another five wve move which is still unfolding yeah could reach 70To 80k that third wave up there but which is obviously playing out as five waves in itself so um there would be in wave one another wave two and we're currently in this smaller degree wave 1 okay and within this wave 1 that should reach the area between roughly 38 to 43kUh we are currently in a third wave so that explains why we had quite an aggressive rally above the high above the 2023 high and made a new 2023 High um because this is the third wave and the third wave is typically very aggressive so is the third wave alreadyOver well it could be it's a bit difficult to count also due to this fake out that we had on that Monday I think I think it was the 16th of October um and yeah could still push a little higher then we should get a w four and a awayFive and that wave five again should reach 38270 to 43k anything above that level wouldn't be ideal there are some reasons why it would then rather be bearish even though it would shortterm be bullish yes but um we would then rather issue a warning that it has basically goneBeyond the ideal parameters of a wave one of three that remains to be seen we're not there yet I can at this stage only mention it I explained that in previous videos just bear in mind um it all looks bullish at the moment before we dive deeper into theAnalysis let us put the spotlight on our sponsor chart prime chart Prime is a service that offers a selection of specialized trading view indicators designed to support you on your trading Journey the first one is the market Oracle Pro this tool designed for precision provides enhanced entry andExit signals along with with three metrics aimed at deciphering market trends and optimizing your settings next we have the market dynamics Pro this unique tool merges chart Prime's smart money Concepts into a dynamic order block algorithm and is driving to provide a more accurate representation of volume lastly the prime oscillatorsPro this trend-based oscillator offers a variety of Market insights including entry and exit points overboard and oversold conditions and potential reversal areas that's a brief overview of what's new from chart Prime stay tuned for more updates and if you'd like to sign up with them just follow theLink in the description that offers you a discount thanks for watching sure things could still turn around and um this move down here was very very fragile so it's not the most stable foundation for rally to a new all-time high however we're focusing on upside as long as these support levels are holdingAll right so we want to focus on what is now we want to focus on the present we don't want to focus on oh could it be that it breaks down and oh you know could we get another bare Market low of course all of these are possibilities everybody's sharing their opinions onCrypto Twitter not helpful you know you want to trade what's in front of you the trend is up we are above support levels we have impulses to the upside we are not in a bare Market clearly not the the price has more than doubled since November 22 still though people stillTalk about a bare Market it's crazy that's all psychology so um again a bare Market can show again but it's just not here now okay so if you want to make decisions you you should not you you should not look at what could be you know we we should focus on what's nowAnd what should be and not what could be because anything could be you know anything can happen but um yeah let's see um typically obviously when you know the S&P 500 we might now see a few more weeks of of of rising prices we talkAbout the S&P 500 and stocks um we talk that on the more trading online Channel um then there will be a decision if a multi-year bare Market will start you know in the not in the crypto Market we talk about the stock market if that happensThen how would it affect crypto right um I can only tell you we not we're not correlating with the with the stock market at the moment Bitcoin doesn't care about the stock market at the moment so that be positive in case that happens it's not fully confirmed when weTalk about the S&P it's not fully confirmed that the stock market enters a crazy bare Market uh which by the way would have disastrous consequences for the society businesses um would be a bit like a loss decade I guess for for the S&P 500 um but what what tends to happen if it'sLike a like a crash like a proper crash then many asset classes tend to correlate suddenly again so we've had that in March 2020 but that could mean that Bitcoin Bitcoin might just make a higher low you know Bitcoin might come down in this wave too it could be quiteA deep wave too they all possibilities that that could play out right so just highlighting don't Focus so much on all these um correlations just focus on what's in front of us okay don't forget to take partial profits along the way have a COR position you know just theWise stuff that we talk about all the time yeah um okay so then we talk about Bitcoin not shortterm I wanted to talk about Bitcoin dominance first this is our Bitcoin dominance chart Yellow Boxes show the altcoin Ries that we had that's when Bitcoin dominance goes down umHowever since August last year we had only basically uptrends uh really so the altcoins have been losing out longest period ever I think longest period ever that the altcoins have been suffering look at this yeah longest period ever so I think um it's it's primed to drop atSome point the long-term trend on this chart is down anyway um it's just going up but not very aggressively but um but but but yeah it's it's primed to drop but not yet okay so it can still push higher um it is currently in resistance 54% and it's hovering aroundThat level above that level could take us to 58% we've got a trend line here as soon as that trend line breaks it might trigger an altcoin season just saying that's sort of from what I see right now uh it's not it's not an ideal chart forElliot wave I described that before um it's just that we can track some structures but it it's not a tradable asset it only goes 200% it's not reliable but um it shows also nevertheless it shows us we have basically an ABC structure to the upside nearly complete could get another highThough but um yeah that's just sort of an update on that and then the total market cap um here you know we talked about that I think on Saturday it it's just holding below this resistance box and the break above it and that is going all the way up to1.3 uh 34 trillion I think it is yeah um or 1 Point yeah 1 Point 345 um trillion and that could be a significant breakout I mean some people told me you know how can the Bitcoin price go up if not more if you know because not not new not more money hasHas come in well new money has clearly come in in the last few weeks okay you can see that um it just hasn't broken above the 2022 May 22 high so breaking above that would take it out of the bare Market range could go along with um Bitcoin dominance dropping maybeWhen that happens because that would literally be optimism and altcoins Performing and so on okay now let's talk about the shorter time frame count which hasn't changed at all so I keep it short um again what can I say you know I've run out of things to say we are still movingIn this pennant potential bullish consolidation pattern suggests Trend continuation um this triangle pattern is technically complete we're just literally just waiting for a breakout to the upside Above This b-wave high at 35,000 uh 50 roughly yeah so that there's nothing new I can tell you um alternatively the orange count couldPlay out and we might break to the downside but as long as we're holding support levels we can still expect higher prices Key support is 29,45 that's really the level below that I would turn bearish on bitcoin ideally I don't want it to break below 30, 510And depending on which of these small levels is broken and holding I will determine which wave degree we're in so do we still get a wave five extension of three and then come down in four and then go up in five or do we already comeDown straight away away and then go up so that's sort of um what what just the market has to show us but against 29450 I focus on higher and I assume that the chart that I showed you on the daily time frame is going to play out soYeah that's all I can tell you really at the moment about Bitcoin I hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership also again if you'reInterested in updates about the S&P 500 uh Day updates daily updates video updates and uh also about stocks and shares and also the NASDAQ which is not officially included but we still cover it at the moment then check out our uh stocks and S&P 500 service link is inThe description thanks a lot for watching [Applause] bye-bye

The relevant support levels are still in play, not anything to add here. It's just that the move down from the high yesterday was obviously corrective, so it leaves the door open for higher in the wave count. In this count, I already count the wave four as complete, it's just not very clear how this is to be counted. It would have to be a diagonal, so it's very likely that wave five, if it has already started, is unfolding as an ending diagonal.

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Hello and welcome to another update video about eth yeah eth has not really moved since yesterday I can't really tell you anything anything new um we still have of the 12th of October yeah a 1212 setup that's my my view there are surely other interpretations how thisCan be counted um it is possible that this circle Wave 4 is already finished that we already on our way in wave five that is sometimes really hard to see because we know that a wave five can be very choppy it can be a so-called ending diagonal you can have a lot ofOverlapping waves so that's possible however eth was not able to push above resistance okay so in this um in the yellow C which is just a more complex corrective pattern that could unfold here in the wave four we um have a wxy structure basically the B wve either isStill unfolding or finished yesterday because I gave you the resistance area remember and um the price got rejected at the golden ratio however since then the price has not really followed through to the downside either so we don't really have an impulsive move to the downside which would be in theC-wave so it's difficult so it's um hard to say where we stand here that's often times a problem in a wave four that's um normal okay so um wave fours can be frustrating that gives me some confidence that we actually are in a wave four and not in some kind of a inSome kind of a wave two which would be another possibility to say we've completed five waves we're in some kind of a wave two but um that doesn't really yeah it's not my favorite interpretation so I assume it's a way four that also is confirmed by this sideways action andThat is very boring okay and um in addition to that a lot of altcoins are also in a way four Bitcoin seems to be in a way four so that's what I'm watching primarily it's just that okay have we con con um have we um completed Circle wave four are we already inCircle wave 5 if yes then it should take us to round about $1900 yeah we five of three and um if we already completed wave three here yeah so this wave three could have completed already here here then we are in this larger degree Wave 4 already and then we wouldProbably see this yellow c-wave play out to the downside which would not be bearish it would just mean that we are already a step ahead which in my opinion is impossible to say so we need to we need to consider both options and if we come down then I'll be watching the areaAll the way down to first of all $1,700 which is the 50% retracement level and then possibly all the way down to 6 1660 so 1660 is the golden ratio um it's a little bit too deep for this ideal Wave 4 but it's valid so I would not really want to getBearish until we break below that level but I will already get cautious below $1,700 okay um they are the main support areas here this left one is for the circle Wave 4 um the right one uh is for the larger degree Wave 4 okay so yeah still very choppy no change I thinkToday we just have to watch 184 2 as resistance level that's the 78.6 FIB level um and then we have to watch the breakout Point that's at 1855 and below that level 1755 is really micro support and then these other ones here 1,700 and 1663 as key supportLevels for the larger degree Wave 4 it's really not possible to say you know what where we stand here at the moment um because we haven't broken above resistance support is holding we just um you know moving around within a support area just below resistance so it's idealFor griding but not much happened so we have to have patience so not much more to add so I hope you like the update if you did please hit the like button leave a comment and subscribe and if you really like the content then please check out the channel membership thanksA lot for watching bye-bye oh

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