YouTube video transcript

Good day legends and welcome back to another video. Where is Bitcoin going next? How are the monthly charts developing? What is Bitcoin expected to do during the month of August? And how is the price reacting on the immediate short term? Will we see continuations lower? Are we going to bounce and finally break through the weekly

downtrend? or is Bitcoin destined to push lower? These are questions we are answering today. Going over the macro monthly chart, specifically a hidden pattern using the RSI indicator which has historically pinpointed the exact moment the bare market has ended. We are going to be discussing why this chart is still suggesting the bare market is

still in play and why August will be a pivotal month for the market. be taking a look at the weekly macro downtrend, the weekly candle close, and of course, what is expected for Bitcoin moving into the remainder of this month, and the immediate short-term charts, discussing what will need to happen for both a

further correction and for a bounce. And at the end of the video today, we are going to be announcing something absolutely amazing for all of the followers. Again, 100% free. It is an update for everyone in this community to join our Telegram channel, to join our specific group chat. You'll be able to

talk with all of our members, discuss cryptocurrency trading, charts, analysis. We'll get into that much more later, but it is going to be free for everyone, and we'll share that information later on. So, let's jump into the market data. 24-hour volume and liquidations. Volume is down 60%, sitting at a total of around 76 billion.

Actually, I'm going to refresh that page to make sure it is correct. No, it is up 29%. 98 billion over here. Liquidations down 29% 143 million. Of the majority of those liquidations, a large majority coming from short positions as the market did push upwards. We saw a fair amount of indecision and mixed signaling