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Nobody Is Talking About This! – Bitcoin About To PUMP Like Crazy?! – Bitcoin Price Analysis

VIDEO TRANSCRIPT

Bitcoin broke out of the rising wedge and then set a falling watch and it broke the falling wedge to the upside, just as I talked about in my latest video. This was the scenario that I expected to happen. I’m going to tell you guys why I expect a potential pump in the coming days, what my targets are and as well how I’m probably going to be playing it. Stay tuned, because should do not want to miss this. Just as I talked about in my latest video, I expected this dump to the downside that you saw in the last couple of days to become some kind of a falling wedge pattern with a new break to the upside. And that’s pretty much exactly what’s happened. And this is very, very bullish because as I said in the last video, this is the moment that the bears are going to show what kind of power they still have is going to be a major indication of the strength of the bears. And if the bears are not going to be unable to push the price much further to the downside. That means that the bears have probably lost a lot and a lot of power, which indicates, of course, that if the bears have lost power, then, of course, you are going to be potentially expecting some more bullish price action to the upside and the breakout of this rising, which it was absolutely the moment for the bears to show themselves. And they did and they had no power. They pushed it to the downside very, very slowly. And then when it came at the end of the wedge, that’s when the bulls to back control and blasted back to the upside in just a matter of a couple of hours. So this is very, very, very bullish for Bitcoin. And you can see how reliable this type of wages have been in the past. And as I talked about in my latest video as well, we have seen a similar pattern before in Bitcoin where Bitcoin had a pump to the upside. It set a rising watch and then it had a dump to the downside, which was as well very, very weak. And then Bitcoin had another massive rally to the upside. So you can see that these type of patterns can give you a lot of information about where to price potentially will heads, because this falling, which was basically a continuation pattern of this move to the upside. And so it’s very, very possible that Bitcoin could have a similar pump to the upside that we saw right over there. And then again over here, which would bring the price up to around $8000. Now, this is a very, very important level. And the reason why this is so important is that if we go on the long term charts, you guys, of course, know I have talked about this trend line a lot of times, but you can see that around with $8000 level is where this important wide support trend line is. And so you can see that at the moment between broke under it, that’s where pretty much this entire big crash to the downside starts. Now, let’s say that the bulls are unable to push bitcoin back into that eight thousand dollar area. What you are potentially looking at is this being a massive fake-out of the trendline, which means, of course, that the trend line is still valid and that we are going to be potentially looking at some very, very more bullish price action to the upside. And if this is going to be true and this is going to be fake out and Bitcoin is going to be enabled to break back into this white front line in the coming days and weeks, then you are looking at some very, very bullish price action potentially going to the fourteen thousand dollars. I have talked about this before. But overall, it’s very, very logical because if the price doesn’t want to go down, you only have one way to go and that’s for the price to go to the upside. You can see the right of here where Bitcoin has three rejections to the downside. And then it broke out of this large filing, which you can clearly see. If the price doesn’t want to go down, then it only has one way to go and that is to the upside. Now, what’s also very important to talk about and I’ve talked about as well, is that this is potentially that double bottom where it’s a bear trap. You can see this pattern playing out right over there between had a double bottom and then the right side of the double bottom has basically this weird move to the downside. And then what happens is Bitcoin gets an explosive move to the upside. So we could potentially be looking at that as well. And there’s a lot of police thinks, but other bearish possibilities. Yes, of course, there are still bearish possibilities. Now, if you go to the two daily charts, not the daily, but the two daily chart, I don’t know really how to say it, but basically Bitcoin as well said a dead cross right over here. And this death cross was valid and bitcoin had a dump to the downside. And right over here, Bitcoin said a bull cross. And that’s pretty much from bitcoin had this big rally to the upside. And then Bitcoin sets a dead cross right over there. It had a dump to the downside and right of here between. So they go on the cross and it had a pump pretty upside. So all of the death crosses and golden crosses have been pretty much felt. And it’s different from the Golden Cross. And that crosses that you see on a daily chart that most of the time have fake outs. Now, what’s very interesting to talk about is on the two daily charts, you can see that Bitcoin is about to set a dead cross and no one that we have. Never had a fake-out at that cross or a golden cross on this chart could indicate that, yes, Bitcoin is maybe about to go lower. Now, we have talked about it before, but this chart is very, very important. The Bitcoin has basically never really broken under this slide back into 2015 and Bitcoin did have a huge crash under this trend line. So maybe we are looking at this potentially being that last moment before potentially that continuation back to the downside. Now, I have changed my mind. No, I’m still bullish on Bitcoin. I believe that we are still potentially looking at this being a continuation pattern. But again, it’s something that you have to keep in mind. And one of the things that I’m gonna be doing. Let’s say that the Bitcoin price is going to go sideways here for about a week and not get it pushed to the upside. Then I am going to be bearish because the price really has to push to the upside. Now to get back into this why trend line, it better isn’t going to be able to break back into the white bread line. It has lost so much momentum that it has built up over the last couple of years and it basically is just going to go sideways here. It is probably not likely that it’s going to go and just randomly pump back to the upside again. And now you are looking at some lower targets. The bulls really have to push the price back to the upside. So sideways action right now. Very bearish indication. And also, if the price is going to go and fall back to, let’s say, that five thousand dollar area that I’m as well also going to be quite bearish. And then you might say, hey, could this become some kind of a double bottom? Well, I don’t really believe that Bitcoin is going to set a double bottom like this because it doesn’t really have that structure of a double bottom. It is not something that you typically shoot at. This has some kind of a triple top. So, yeah, I mean, potentially you were looking at this becoming some kind of a double bottom. That’s very, very likely. Presumably for this is going to be some kind of a larger double bomb. So these are the things that I am watching. It’s a very, very important thing right now that Bitcoin is going to be able to show some bullish strength. Dibley, strength has to continue now to the upside. Any sideways action is a red flag to me. The scenario that I’m going to be playing is for this to become that continuation to the upside. And I expect Bitcoin to have another pumped to the upside in the coming days. And I do believe it’s very possible for this to become some kind of a double bottom like that. And then you are potentially looking at a pump to watch that a thousand dollar level. Now, one thing that’s a lot of people is saying that if the stocks are going to go lower than bitcoin is going to go lower as well. Now, maybe that’s possible. Would one thing that you do have to understand is that basically this stock crash happened was exactly at this crucial level? The stock market crash, the Coronavirus, could not have come onto a worse moment than right over here. Basically, when Bitcoin was already in a position to get a correction, I talked a lot about this being the top and this pump to the upside, being very, very weak. And basically, when the stock market started crashing, that’s when pretty much Bitcoin as well hit the top right over there. And so it was just a very bad situation that Bitcoin was in. And if you compare Bitcoin, for instance, with things like gold, with things like silver, then Bitcoin might look very, very bad. But let’s say that the corona fibres started off right over here when Bitcoin was super, super bullish. Now, what you might have seen is that this pump might have not gone this high to that 14000 dollar level, but you certainly wouldn’t be randomly looking at a crash to watch the three thousand dollar level. And that’s what someone was telling me. And I actually corrected him on this. And he said patterns don’t matter when the whole market is crashing, everything is just going to go down. And I said that’s absolutely wrong because let’s say that Bitcoin is setting up for a bullish reversal to the upside. And that’s the moment that’s the corona fires happens. So let’s say Bitcoin is setting a large double bottom and it’s about to have a big refers to the upside. Let’s say at that point the Coronavirus becomes a thing. Then you might still be looking at a dump, but because the market was setting up for a bullish move, you could be looking at maybe a crash to the downside, but maybe not a very severe crash to the downside. But let’s say, for instance, the bitcoin is inside some kind of a large rising wedge pattern. And then at the top of the rising wedge, that’s where the financial crisis starts. That’s when the coronavirus becomes a thing. Then you where are really looking at potentially a big crash to the downside. But because of that, corona fires, the crash might have just become much, much worse here. And so the position that the market is in is very, very crucial for the size of a crash. So, yes, of course, these parents matter. And I don’t think it’s fair to compare, for instance, bitcoin with something like gold, for instance, and just say, like all this pompous, very big for the upsides and bitcoin is a dump to the downside. That must mean a bitcoin is a bad asset or it must mean that people are overall interested in gold. But as you can see, gold in the last couple of years has been in a bull market and has been just going to the upside. So overall, gold was pumping like crazy and gold. I was in a bull market, and so when the Corona fighters crisis thing happened and gold crashed through the downsides, then gold wasn’t able to recover much easily from that because it isn’t a bull market and it has overall a lot of interest and overall has a lot more buying interest than compared to Bitcoin. That overall was just already in a shitty situation and also really setting up for a big correction. So market situations, they’re very, very important. And just because this big crash to the downside was so big and some older assets are unable to recover much, it much quicker doesn’t mean that Bitcoin is a bad asset. It just wasn’t Bitcoin. It was in a shitty situation. It wasn’t such a bad position for this to play out. And therefore, this might look very, very ugly and very, very awful. But I believe it’s very possible Bitcoin can recover from this as well. And let’s say that the virus started off right over there when Bitcoin was about to dump to $3000, then, you know, I don’t even want to think about the possibilities, but yet and this crash could have gone much, much lower, maybe, too, like the $2000 levels you don’t know. And yet, as I said, Bitcoin was just in a shitty situation. And the fact that it happened was such a bad moment was just very, very bad timing for Bitcoin. But it doesn’t have to mean a bitcoin is a bad asset. It doesn’t have to be in a Bitcoin is debt or the bitcoin isn’t a safe haven. These things just happen. And as I said, you are still potentially looking at this being a nice opportunity to buy some cheap bitcoin. Maybe. I don’t know. I’m not a financial advisor, but that’s just my opinion. But that was the end of the video. I hope you guys enjoyed this video and learn something today. Make sure to join the free telegram. The link is in the description and I’ll see you guys in the next video. Bye-bye.

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