BITCOIN: THIS IS VERY DANGEROUS!!!!!!!!!!!!!!!! BIG DUMP INCOMING?!?!?!??!?? BTC Analysis

    we’ve got a very dangerous setup on this
    chart ladies and gents and the reason we
    have this setup looking so bad right now
    is because Bitcoin is yet again and this
    is now like the fifth time we’ve done
    this throughout this trend is yet again
    coming back down into the very low range
    of the 60k area and that means trouble
    the reason that means trouble is because
    again we’re always looking at the
    strength that we move up from our
    support levels and if we start seeing
    that we’ve lost strength and that we
    quickly revisit our areas of support
    that tells us the strongest possible
    it’s the strongest possible indication
    it’s literally the Market’s own body
    language showing us that it is getting
    weaker and it is running out of strength
    this is something that we’ve spoken
    about a lot on the channel recently and
    it has been 100% correct I’m going to
    continue to show that to you in this
    video but those of you that were
    subscribed shout out to you none of this
    should be taking you by surprise and I
    want to show you a few different ways
    that we can
    actually that we can actually kind of
    understand this and the first way is
    just by looking at see when you bounce
    off the area of support this doesn’t
    count cuz we were we were actually
    breaking resistance here but when you
    bounce off support how long does it take
    to revisit that area again on the first
    occasion here the first two uh hits had
    a 14 and 1/2 day Gap the next one had a
    24 day Gap those were two very big gaps
    right you’re talking two and 3 weeks
    respectively very respectable time
    frames for the price to come back down
    to support that’s okay the next one
    obviously much shorter 3 days after that
    one day and after that we’re already
    coming back down and if we just see
    another one or two days of dumping this
    is going to be about 10 11 days and
    we’re back down to support again that’s
    the first way you can judge this how
    quickly do you return down to support if
    you continuously return down quickly and
    if your uh returns become more frequent
    that is a strong sign that the support
    will eventually collapse and you’ve got
    to start looking for support at
    significantly lower levels in this case
    it’s significant in other cases it might
    not be the reason it’s significant here
    is because if we look at Price history
    there’s just not that much trading that
    has ever taken place between this yellow
    line at 61k and this yellow line at 52k
    Bitcoin just doesn’t usually trade in
    this range that much and we can see that
    very clearly you know when we broke it
    over here it was a pretty quick move up
    and a qu pretty quick move back down we
    stayed above the line for a total of
    about 6 days on this occasion here very
    same thing until we came back down to it
    again uh you know we’re just not
    spending that much time in this range
    when we first broke up we didn’t even
    use any resistance in the range at all
    so typically when that happens if you
    don’t use any resistance on the way up
    you can’t expect support on the way down
    as well so we’ll get to that in just
    just a second as well thanks for
    smashing those likes if you are excited
    ladies and gents and of course do
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    to trade with uh if we bring it back to
    the market the second key way that we
    can actually see how weak this Market is
    is by looking at the bouncers uh again
    we’ve looked at all of this before but I
    will repeat it because it’s super
    important there’s two key factors we’re
    looking at when we’re looking for
    bounces the first key factor is how
    quick are the bounces the second key
    factor is how high do the bouncers go if
    we take a look at the first one here
    this was a 16h hour 14% rally okay
    within 16 hours it went up by about 14%
    you could say yeah it’s about yeah 16 20
    hours right basically around there on
    this occasion here the first move up
    takes place again across about 16 20
    hours and it’s a 12% rally pretty
    healthy right we’re moving up by double
    digit percentage points and we’re doing
    it within less than a day within one day
    cycle actually pretty good on this
    occasion here from our bounce to our
    high this was a 10% pump but it takes
    about double the time am I saying that
    right yeah I am one and a half day we’re
    moving up by less and we’re moving up a
    lot less intensely the next time from
    low to high we’re moving up and and the
    and and if we’re looking at similar time
    frames it’s you know about one day later
    we’re up by 7% about 2 days later we’re
    up by 10% 5 days later we’re up by 12%
    it takes 5 days to match what we did
    previously in 16 hours this is a very
    very strong sign that overall we were
    producing and by the way these pumps
    went much higher right this pump took us
    up to our actual all-time high this pump
    took us up very close you know these two
    you know these were the actual tops and
    the market didn’t actually go higher
    than them so really not good signs
    ladies and gents definitely not good
    signs you one of the other things I told
    you guys is that we need to start
    punching in um higher highs right we’ve
    been setting lower highs in this trend
    the whole time we need to start punching
    those highs a little bit higher right so
    this was the key level to break this was
    also a key level to break we definitely
    broke this one with ease but this one we
    didn’t really break very well you know
    if you go ahead and just kind of drop a
    line at that previous High we did get a
    couple of Wicks but there was nothing
    significant here this is not a break of
    our previous High which to me means that
    this is now a double top so we’ve got a
    little double top forming in this market
    here there’s a lot more I’ll show you as
    well and by the way this is not a purely
    negative video you’re actually going to
    see uh in a few minutes when I get to it
    there is an extremely strong bullish
    sign on this market and it’s actually
    really exciting it’s something that I
    personally take very seriously so I’m
    pretty hyped up for that if you are
    definitely make sure that you smash
    those likes up and double check that
    you’re subscribed as well uh obviously
    that stuff goes Super far for uh both
    you and I because you don’t miss out on
    this amazing content and uh and I get uh
    I get numbers that go up so that’s
    pretty cool but uh but yeah so so we’re
    producing weaker bounces and um and you
    know it it goes deeper than that you
    know if we if we take another look at at
    how this is looking as well you know
    again it’s just we’re coming back down
    into the bottom of the range we’ve got
    our support now at about
    $62,000 which is you know more or less
    where we are we’re a little bit higher
    than that right now uh you know you can
    obviously draw lots of different support
    and resistance areas on this chart uh
    you know and what we also have
    developing now on smaller time frames is
    lots of resistance above our heads right
    now as well uh you know areas that you
    know we previously got rejected at like
    you know the areas I was just talking to
    you about this area now has an ichimoku
    Cloud here offering resistance on the 1
    hour so uh you know if we go ahead and
    take a look at that we’re also going to
    start to to see that you know look
    previous areas that we were kind of
    struggling at they’re going to be much
    harder to overcome now uh so that is
    also important we’ve already seen this
    on the 4-Hour time frame as well it’s
    not particularly often that the 4H hour
    ichimoku cloud is in exactly the same
    place as the 1hour ichimoku cloud right
    take a look at
    this right there 4our ichimoku cloud
    overlaps with the 1hour cloud uh you
    know it it’s it’s Confluence what we’re
    seeing is that across different time
    frames the same indicator is telling you
    the same thing you’re even seeing
    different indicators telling you the
    same thing look at the 4H hour EMA
    ribbon you know it’s it’s in the same
    place if we put the ichimoku cloud back
    on here we are you know it’s the same
    general resistance area if we put it on
    the 1 hour it’s right in the [Β __Β ]
    Center you know so uh there there is
    Confluence here across different time
    frames across different tools and
    they’re unrelated tools you know EMAs
    and ichimoku are completely different
    indicators and that’s why I use them you
    know one thing that I find a little bit
    silly that honestly you know you
    probably might even be making this
    mistake up to now uh you know and I sure
    did as well it’s nothing to be ashamed
    about is that you use indicators which
    kind of do the same thing slightly
    differently you know they might have a
    small difference but they’re not
    actually that different for example RSI
    and MCD brilliant example very common
    beginner Duo that people people use as
    indicators but they’re both momentum
    indicators and uh you know for me I
    first of all I don’t want to use that
    many indicators because they’re actually
    not that useful especially if you can
    analyze the way I’m showing you right
    now you’ll have complete Clarity of
    what’s going on and you won’t even you
    know we didn’t put a single indicator on
    this chart until like 7 minutes into the
    video and you already understood much
    more about this Market by 7 Minutes in
    than most people ever would um and that
    and by the way people are like you know
    your videos are too long dude the videos
    are as long as they need to be if you
    don’t like it I’m not talking to you you
    know I mean if if you don’t have time
    for this then go uh you know I’m talking
    to the people who have serious money in
    this game uh who have time to put into
    it and if that’s not you then that’s
    your [Β __Β ] problem dude but I don’t I
    don’t operate like that I consider my
    decisions carefully I think about it the
    way I’m telling you guys and uh you know
    that and and that and that’s because the
    money is important to me you know I’m
    going to put some time into it it’s it’s
    really not a big ask so
    um you know I it’s it’s not going to
    change the videos are going to be as
    long as they need to be or as short as
    they need to be um you know nothing gets
    forced here but uh you know here’s the
    thing like you know we’re starting to
    see that kind of resistance mounting up
    here uh and then just actually back on
    the note of the indicators uh you know I
    don’t like to use too many because the
    normal analysis that I show you is great
    uh but also if I’m not going to use too
    many I need to pick him carefully right
    so I don’t want to use like you know the
    same thing it’s like it’s like going to
    the gym and all you do is chest workouts
    and then you think that you know you’re
    going to have a developed body you’re
    going to have a strong chest but the day
    you need to pick something up off the
    ground and it’s really heavy you’re
    going to have no back support you know
    you’re going to have weak legs and
    you’re just going to collapse and and in
    trading what that means is you’re going
    to lose money so it can be very
    dangerous um now here’s something
    interesting we were trading in a rising
    wedge and it traded right up into 65k
    resistance here uh I’m sorry 67 the 8K
    resistance here and the uh speculative
    Target of this wedge drops down by 7%
    from the breakout point which puts us
    right in the
    $61,000 price range we haven’t reached
    that level yet we have fulfilled most of
    this target so I think it makes a lot of
    sense that given how we’re already on
    track to reach this target we’re
    probably going to come back down and tag
    it at least uh you know maybe we get a
    pump from there and I’ll talk to you
    guys about that in a minute but at a
    minute
    uh you know I have to expect that we
    come down to that 61.8k level um you
    know just into that General kind of
    range now here’s the other thing if we
    do end up coming back down to the bottom
    of these ranges the these are still
    support and you know it’s not something
    that I would be looking to short because
    support is where the price bounces and
    even though I think it looks weak and
    it’s going to roll over I’m saying this
    more from a perspective of I’m not
    buying anything yet you know I think I’m
    going to going to get better prices it’s
    not because I want to sell or anything
    you know I I I think the cost of selling
    is too high you know I would rather be
    in and lose 10 20 30
    40% um you know I’m I’m very prepared to
    lose 40% most of you aren’t but you need
    to be okay with that cuz that can happen
    it’s actually very normal uh I’m very
    prepared to lose 40% uh but I’m not
    prepared to take myself out of the
    market because if this thing does rally
    you know a 40% loss is going to look you
    know like a pretty small cost in terms
    of uh you know the two 300% upside that
    you’ve missed out on cuz you sold um so
    I’m not saying that it’s going to go up
    obviously I’ve never been your financial
    advisor and I won’t become one uh but
    that’s what I’m doing and that’s been my
    Approach uh you know even though I think
    the support is going to collapse it’s
    not like I’d necessarily take some
    action on that in particular but there
    is action I would take and I will tell
    you about it as we continue that said it
    is still support and we do have a trend
    of producing weaker bounces so it could
    just be that we fall into this kind of
    range here and then you know it’s
    another rise back up into where we’re
    finding support right now uh you know we
    flip that and turn it into resistance
    and then maybe we collapse down right
    there’s a lot of different ways it can
    happen I have shown you this before but
    I want to show it to you again because
    it is such a um captivating example of
    exactly what I’m talking about and it’s
    just it’s so relevant uh you know it’s
    exactly exactly what we’ve seen before
    uh where Bitcoin was trading in this
    beautiful um diagonal I’m sorry uh
    descending resistance channel uh on this
    chart here and what we had on the chart
    at that time uh was a very very similar
    setup where originally we had nice big
    spaced out gaps of our support area on
    this occasion here it was 80 Days on
    this occasion here it was 54 from here
    it was 70 but then suddenly it starts
    getting a lot closer it starts becoming
    a lot more local it’s a very similar
    situation to now nice big separation
    followed by getting a lot faster here
    getting a lot faster here these are your
    signs that collapses are coming I traded
    this collapse I saw it coming I was able
    to make a 60% profit which is bigger
    than the actual drop which was
    absolutely sick and of course that
    wasn’t enough I did trade this on the
    way back up as well uh for at the time
    it was uh one of the biggest percentage
    gains of my life so that was super cool
    as well that was over 300% profit on one
    trade alone uh but the point is that
    these are the same patterns we did this
    with the descending triangle and by the
    way there’s another example right here
    on screen we did it with this ascending
    triangle 2 it’s just a characteristic of
    the market this is why it works so well
    all we’re doing is reading body language
    I’m not doing any Voodoo [Β __Β ] black
    magic or like reading the moon for
    analysis or putting on on all sorts of
    [Β __Β ] autistic indicators on the
    screen and [Β __Β ] like that that’s not my
    game that’s not what I do I’m literally
    just saying hey look before it was
    taking a long time to get back up into
    this range this one it is still not that
    quick it’s not that slow uh but the
    other main factor is that it was
    producing big resistance drops off this
    level and those big drops stopped you
    know over here especially here this last
    bit here
    there was no more resistance in this
    range we were getting very close up into
    this range but we just weren’t getting
    rejected over here we just weren’t
    getting rejected and if you’re not
    getting rejected or in this case up here
    if you’re not getting bought back up
    then you know that the collapse of your
    ceiling or the collapse of your floor is
    probably on the way you know that’s how
    you can tell and that’s why this stuff
    is so powerful you can start to see that
    the market does not care care about
    where it is it’s not bouncing where it
    should be it’s not reversing where it
    should be well then the ball is in the
    court of the Bears that is something
    which I think is very important and can
    you know maybe hopefully save you a lot
    of money make you a lot of money in the
    future it’s a principle that has served
    me very very well here’s a look at how
    this could happen uh if Bitcoin does end
    up falling below that area of support
    I’d love to see a back test and uh you
    know that would potentially lead to a
    really nice low 50s Target I’m seeing a
    lot of targets from people like 55 56 58
    57 just basically any number in the 50
    range um I personally don’t know where
    these people are getting their numbers
    from uh it just doesn’t make sense to me
    this chart uh on screen is very very
    clear there there is no [Β __Β ]
    consolidation on the chart until you
    look down at the 52k level there’s
    nothing so I don’t know how you can just
    pick a completely [Β __Β ] random point
    and then say yeah this is the bottom uh
    it just sounds silly to me I I just
    don’t understand how that can be a
    conclusion someone arrives at uh but
    people have these conclusions I think
    they’re wrong uh and I’m looking at 52k
    because prices tend to bounce off
    previous consolidation zones they tend
    to bounce off previous support or
    resistance zones and this was obviously
    a resistance zone so uh and and by the
    way it was actually bitcoin’s first
    resistance Zone uh when we were setting
    all-time highs um if you take a look at
    this here this is the um my bad actually
    no it wasn’t what am I talking about
    where’s the 52k area um yeah no no it
    wasn’t my bad uh the 52k area produced
    very minor resistance here I mean we
    stopped for two days but I don’t I don’t
    really think that counts and it did
    produce really nice big rejections here
    and reversals across the board it was a
    huge reversal Point here I think that
    might have been what I was talking about
    uh and this actually resulted in a huge
    25% drop in 2 weeks which is know a big
    drop for a 2 we time frame so um you
    know that’s that’s what we’ve got here
    that’s what we’re playing with that’s
    our area of support and that’s how I
    think this thing could end up playing
    out um by the way if it goes bullish if
    it goes the other way then we’ve just
    got to overcome this resistance our
    point to break on the 4H hour is going
    to be 66 but I think more reasonably
    it’s going to be the previous high at
    about 67 as long as we can get about
    this High we’re good if we don’t then
    you know it’s potentially even worse
    it’s potentially going to be a triple
    top but I don’t know triple tops uh I
    don’t I don’t know how common they are
    um you know but um you know if if it
    does become a rejection then I just
    don’t really see how this thing can
    recover uh but more more reasonably I
    think if it does get back up there it’s
    it’s probably going to be able to break
    that high and then that’s it you’re
    probably looking at alltime highs so uh
    that’s cool it’s just that there’s a
    very you know Rocky you know storm head
    for Bitcoin if it moves up but it’s
    actually pretty clear to drop right now
    like I mean it it’s it’s got clearance
    to drop basically uh you know there’s a
    lot of factors that are giving it uh you
    know uh that that are giving it a reason
    to drop uh and and not many I think that
    are pushing it higher right now so
    especially you know the haring’s done as
    well I just you know I just think it
    makes sense like you know these
    narratives have kind of played out uh
    and that could be something which
    Bitcoin uh you know just uses to kind of
    roll over with we’ve also got ichimoku
    support at the 618 retracement here I’m
    sorry uh Fibonacci support uh at the 52k
    level uh with this 618 retracement so
    that’s definitely interesting uh and
    you’ve already kind of seen me tease it
    but we’ve got the ichimoku cloud too and
    this is that really bullish thing I
    mentioned a little bit earlier on in
    this video we are looking at you know a
    huge falling wedge pattern after a
    really big
    uptrend and it’s lining up with
    phenomenal daily support on the ichimoku
    Cloud this is actually a really bullish
    sign to me and just the first Target if
    you extrapolate it from this high here
    puts us at $882,000 from a potential
    breakout point in early miday so there’s
    some real promise here you know this
    actually looks really good and it would
    be uncomfortable to break the daily
    ichoku Cloud you see the problem that
    would happen now because we’ve spent so
    long consolidating
    the problem we would have if we drop is
    that okay let’s say we get down here and
    then we start bouncing up which by the
    way I don’t think this is necessarily
    the floor I still want to see
    $44,000 uh because that would be the
    maximum 40% correction for Bitcoin and
    that is actually a a very nice number
    that Bitcoin hits in terms of
    Corrections uh
    when um when it does end up correcting
    in a bull run you know 40% is the
    maximum acceptable range to drop uh and
    it also lines up with a really nice area
    of support and it’s also the only it’s
    the second area of support there’s
    there’s only this one and then there’s
    this one so uh you know it’s it just
    makes sense um you know but regardless
    let’s say it does either of those things
    or none of those things maybe it just
    drops down to here and then comes back
    up the problem is that all of this which
    we’re finding support in is probably
    going to be resistance and not only is
    this going to be resistance the next
    blocks of trading are going to be
    resistance this line is going to be
    resistance this one’s going to be
    resistance 67 68 is going to be
    resistance you’re just going to keep
    running into it over and over and over
    if you try and break back out into this
    range and that is the inherent risk that
    this Market is uh is is going to be
    faced with and I at this point I don’t
    really think it’s avoidable uh you know
    I think it’s kind of too late um the
    fact that we’ve traded here for so long
    you know since we entered this range it
    has now been 60 days that’s 2 months you
    know I mean that’s 2 months of price
    history building up in a Range which
    we’ve previously never really traded in
    for that long um you know it is
    understandably probably going to become
    resistance and so that’s something I’m
    going to keep an eye out for uh but I
    don’t you know it’s not it’s not
    something I’m worried about like these
    are just things that would make scared
    people sell you know what would end up
    happening in these situations is that
    you drop down to 52 you know you’ve been
    watching Bitcoin do nothing for two
    months you bought it up at to at the top
    because you know you’re a [Β __Β ] Reddit
    Trader and uh and and after 2 months of
    waiting it drops you know it’s it’s
    going to be your reason to sell and if
    you decide not to sell but you see the
    price come back up you’re going to sell
    here because you’re going to be like
    well at least I got close to my entry
    but there is resistance now so I’m going
    to sell and then you’re out of the
    market thinking that this is going to
    happen uh you know and it very well
    might by the way I mean if that is what
    happens it would be so healthy for the
    market uh you know to come down here and
    then do it all again and uh and then
    this would be the real rally that that
    would just be super nice but I don’t
    know if the Market’s actually going to
    give that to us but don’t rule it out
    because when it rains it really does
    pour like people people act like uh uh
    you know Bitcoin just never does
    anything uh nasty to people you know
    when when it’s in a bull market people
    act like bitcoin’s just always [Β __Β ]
    perfect always smells nice always done
    up properly always [Β __Β ] in a good
    mood no man no bitcoin’s like pretty
    bitcoin’s pretty brutal you know bit
    Bitcoin has its way of uh [Β __Β ] your
    life up [Β __Β ] your world up for sure
    for sure uh so that is something I would
    definitely keep in mind as well in this
    market it goes a little bit further uh
    the S&P 500 saw a pretty big move up
    actually on um on Friday it was a big
    gap up and um and and the reason that’s
    important is because Bitcoin didn’t
    follow uh if we look at Bitcoin
    yesterday it was just dropping and
    that’s on a day where the S&P 500 was
    displaying strength that’s obviously
    pretty concerning right if the S&P 500
    is looking strong then uh you know
    typically and and if typically Bitcoin
    traces it well well then it’s not doing
    that right now and uh and and so Bitcoin
    is being given a reason to move up but
    it’s not moving up you know when when
    you don’t respond to bullish things by
    doing bullish things uh it means that
    you’re weak you know again it’s just
    signs that the market is giving us that
    you know it doesn’t mean that you know
    collapse is coming obviously L you know
    it can it can be pulled back but um you
    know it it certainly doesn’t mean that
    there is an abundance of strength and
    and that I think is important uh we’ve
    seen ethereum really shoot up here
    against Bitcoin so that’s pretty cool
    you’re right there bro uh we’ve seen
    Bitcoin really shoot up there uh I’m
    sorry ethereum up to the 051 level um I
    I don’t I don’t think this is anything
    to read into it would be cool to see it
    flip above this area but I just don’t
    see that happening and I think this is
    going to be another uh honestly a nice
    exit I think uh you know before it does
    continue to move down uh I I don’t
    necessarily think I’d exit here if I was
    still holding because I don’t know what
    if it does go back up You’ just be so
    bitter uh but I’m not holding ethereum
    and uh and and I think it’s going to
    drop from here I think it’s going to get
    weaker again I think bitcoin’s dominance
    is going to shoot up again bitcoin’s
    dominance is basically just falling back
    down to retest this box that is
    beautiful that’s the best thing it could
    possibly do in order to shoot back up
    again later it would probably happen if
    Bitcoin crashes below 60k um other
    altcoins I do want to take a quick look
    at Solana uh Solana is now back up in
    this resistance range of the 142 $142
    area uh quite an important resistance
    range it’s already dropped down by a
    fair bit so could be getting ready to
    capture a little bit of resistance here
    definitely an interesting short uh you
    know and also again something very very
    tradable on exchanges like biit and
    bingx again Bing X is not a kyc exchange
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    below uh pretty good setup here I think
    you know just uh you know down to the
    next area of support that’s 10% and
    maybe a stop loss above this thing here
    it’s 4% so yeah whatever 5x leverage uh
    that that’s that’s still a 50% profit on
    the downside so pretty good um pretty
    clean you know it’s it’s obviously an
    important area of resistance so uh that
    is that is something I’ll be
    watching uh that is going to be all for
    me today lady and chance if you have
    enjoyed this one you know exactly what
    to do smash those likes up make sure you
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    below uh I haven’t made videos for a
    while because I was very sick and um I’m
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    why but um interestingly a lot of people
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    last one or two weeks uh and and I was
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    know if it was just like something going
    around because Dubai had a fuckload of
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    someone to fly in and it gets passed
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    you all in the next one cheers

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    37 Comments

    1. If Bitcoin drops to 50-40k range, everything will drop, and that means a great opportunity to get on the missing train, ofc it's not the 15k train but still, it's a great opportunity so don't be scared otherwise you will miss a lot of profits in the long run

    2. Nothing dumber than youtuber wanna-be's that rant about 40% collapses of a market being healthy…LOL

      It isn't healthy in any shape or form.
      That's why bitcoin has gone nowhere in 3 years.

    3. I've never complained about one of your videos being too long. The info is packed in and it's as long as it needs to be. Keep doing long videos I love them bro.

    4. Is this guy new? Theres been months of consolidation in previous runs. Just use the chart. Its right there in front of your face.

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