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A BULLISH BITCOIN CHART WITH 63% ACCURACY

VIDEO TRANSCRIPT

What is up Twitter bullish case for Bitcoin? A positive video amidst all this craziness happening in the world and also a video for YouTube. Once I get this uploaded. I’m going to look at a bullish case for Bitcoin, I know I’ve been a little bearish. Short term bearish. Right. I’m looking for a pullback is all. Nothing crazy, a higher low and this continuation of Bitcoin. And I wanted to kind of chart a bullish case, some positivity for the bulls because it is on the charts. And actually, from a technical analysis perspective, there’s more likely that that would happen from historical evidence, from historical data. But I’m gonna tell you why I don’t think it’s going to happen. But let’s look at the charts right after this. What is up to Twitter, what is up YouTube, I appreciate. Come by, hit the like video, hit the like button on this video. If you’re having a good weekend, I want to I just want to preface this video by saying this. You know, I do videos of all sorts upside and downside. Recently for the last week or so, I’ve talked about the downside. I’ve talked about a potential pullback. We had the swing low back in mid-March. I’m looking for another kind of swing low for Bitcoin. And that’s just kind of my own opinion. I’d never want any of you to base, you know, your own financial decisions on my opinion. So please. Yes, I want to get that other way. This isn’t financial advice. I’m just sharing the charts with you from my perspective. What’s up, ZOG? I see you in the charts. So let’s dig in the video. First off, I want to share something I think is interesting. The Dow Jones. I think the actual synergy and harmony in traditional markets and Bitcoin over the last month or so has been really interesting to watch. It’s pretty cool, I think, historically. It’ll be awesome to watch how they how the two separates. What will that look like? Will Bitcoin demolish the traditional markets in terms of gains in the recovery of the markets? I think so. But I just want to point out a few things that are really cool on the charts. This is Dow Jones on The Daily. I just put a couple of notes. We have the 50 over the 250 moving average going below the 200 moving average. We have the swing high after the crazy swing low that we had back in March. Now, if you go to the bitcoin chart on the daily, check this out. I should zoom out a little bit so we can see the similarities. Bitcoin 50 moving average cross below the 200 moving average right there. We had a swing high out of the crazy swing low, right? So the emotionality of human beings is reflected almost identically on Bitcoin charts and traditional charts. And I think I think it’s important because this is a reflection of the emotionality of people and how there’s maybe not a clear correlation between Bitcoin in traditional markets, but the one correlation that is true that is evident, that is consistent is. The fact that there are humans behind all of these things. Now the one thing that is different with Bitcoin, you see in the Dow Jones, you see the swing high. That first swing high, we got a rejection, came back down. Never recovered from that. Right. If you go to Bitcoin, Bitcoin had a swing high and then it had another swing high and then it had another swing high. Bitcoin’s had upward momentum. This is kind of a picture of people kind of buying bitcoin, accumulating this bitcoin at this at these prices. Now, will Bitcoin continue this trend of higher highs? Right. And will it happen through this heavy, heavy resistance at 200, the 50 moving averages right here? That is what I don’t think will happen. However, this video is a bullish case for Bitcoin. So I just wanted to throw this out there real quick. I’m not going to make this a long video. The 4-hour chart and I’m going to the basis on an ascending triangle. Now, this is a tough chart because depending on if you’re looking at swing high closes and opening or the Wix on of these candles, it’s kind of a little iffy whether there’s an ascending triangle here or not. But I think if you take the median, which I think is really reliable to do on charts, take the median of these swing highs and also the median of these closes in openings of these for our candles. You kind of does gets a sense of just a really clear resistance area right here. And it’s pretty flat. It’s a pretty flat line. And we also have these higher, higher lows. In the meantime. Right. So Bitcoin, I think is putting in ascending triangle. We have some rules and this is the bullish aspect of this video. Number one, volume decreases in an ascending triangle. Eighty percent of the time. So I see a lot of you know, we have descending volume. Everyone, this is but this is bearish. We’re definitely going down to like three thousand. We have Elliott waves paired with that that many are saying, you know, Bitcoin is going down because we have this Elliott wave setup. We have a decreasing volume. And at the end of the day, decreasing volume isn’t always bearish. And in a bullish setup like an ascending triangle, 80 percent of the time, there is a decreasing volume with a bullish breakout number to sixty-three percent of the time breakouts. Happens and I put up to 25 percent of the apex, that’s not raw. That’s not right. I think it’s 62 percent actually is the data. Sixty-two percent of the apex, which is literally today a bullish break happens. Sixty-three percent of the time in this setup. Lastly, a throwback happens. Sixty-four percent of the time, a throwback is my favourite thing. If you’ve been watching this channel is after we get a breakout, a throwback is coming back down to test support. Which was previous resistance? So these are this. This is a bullish setup. And I want to just I want to share with you this data that I have. Isn’t because I’m like, I’ve been trading for 15 years or something. This is stuff I’ve learned. And the majority of what I’ve learned comes from POCHOWSKI. And this is his website. And you can see the numbers that he uses for this data for an ascending triangle is based on eight hundred ninety-nine. Over five hundred thirty-one trades. Meaning he traded this many times to get eight hundred ninety-nine breakup breakouts upside and five hundred thirty-one breakouts downside. That’s where we’re getting these numbers. Sixty-three percent of the time there’s a breakout, a bullish breakout. Right. And obviously you see the bulls are kind of winning only sixty-three percent time. It’s kind of close to 50 50 in terms of this setup. So it is a bullish case for Bitcoin, though. And we know we know the breakout target for this is around eighty-two hundred dollars maybe or maybe eighty-three hundred dollars is the breakout target. With all of that being said. Yes. This is the bullish setup. However, I just with this bearish cross that we had the 50 below the 200. With kind of the state of the world right now, from an emotional perspective, the uncertainty of things, I just see a lot of resistance ahead. Right. So I think I’m kind of prone to. Lean in the direction that there’s gonna be a Barasch move back down. We’re getting very close to the apex of this triangle. I think either way it’s gonna happen. We kind of had this false break out the other day. We came back down below resistance. I remember this happening so really really right now. What I’m looking at is just key resistance and support. The support areas are interesting because we have very reliable Fibonacci higher lows. So for illustration, we had a swing low March 22nd to a swing high. We came down. You can see this green triangle, this green rectangle tested. And then that was our swing low and then do it again, that swing low to ours. Swing high right here, right here. Came back down and we tested this green rectangle once again, this was another higher low and now we’re kind of at a similar setup that high or low to this swing high. And we have us a higher low again with an area of like sixty-five hundred dollars down to sixty-three hundred dollars. I’m really looking to test that area. Bitcoin, that is the last kind of strong support as Bitcoin has really consolidated with this ascending triangle. This is like the last strong support right here for bitcoin, a breakthrough that we know what may happen. Potentially a break back up to that resistance, previous support and then continuation down. This could play out into mid-April, the end of April. We have to be patient. We have to watch. You know that I have this. The thing in me that thinks we’re going down. I could be wrong and I want to be wrong. I know if I share that with you, but I wanted to share you. I wanted to share with you a bullish case for Bitcoin today. I hope you do well. It’s crazy on Twitter right now. It’s crazy just in general. I’m trying to I’m starting to stay kind of away from social media. I’m trying to stay away from the TV. I’m trying to stay active, work out because. Listen. You all know it’s true. Everybody kind of has their own opinion. With everything going on and it kind of gets a little tiring seeing everybody just disagreeing with each other on even kind of a serious issue. Right. No matter where you are with the issue, it’s a serious issue. We’re all literally quarantined in our house with so much uncertainty in the world. And we don’t know exactly what’s going to happen next with our businesses, with our jobs. With everything going on, with the economy, with health, all of this, this is the last time people should be disagreeing. We need to get our minds right. We need to get our hearts right. We need to stay positive. We need to stay active. And I just encourage you to do so this weekend. So if you’ve been on social media, if you feel the blues step away, I’m telling you, get a breath of fresh air. Step outside. Move around a little bit. Tell your family you love them. Hang out. Have some fun. Enjoy life. Life is still here. Life is still life. I appreciate you wanted to do this. Quick little video. I hope you have a good Saturday. I know I am Sarah. Cut my hair. I think it’s. I think she did a pretty good job being she is not a hairstylist. Shout out to you. Me a more. Thank you for coming by. If you’re on YouTube watching this and you’re still here, hit the subscribe button if you’re not a subscriber. We’ll track Bitcoin. We’ll see what’s going on. Have a great day. I’ll see you in the next video. God bless.

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