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Bitcoin | ABOVE $7,000!!! | FULL RECOVERY

VIDEO TRANSCRIPT

What’s up, guys? So I just finished making today’s video and Bitcoin just saw the breakout above 7000. So we are getting that break out in this video. I’m going to discuss the upside targets that I have. So again, this video was made just before the breakout. But everything in the video is still relevant to what’s going on now. If we get the breakout above sixty-eight hundred seven thousand today, congrats to all the people that we’re accumulating at low levels, we’re seeing really nice gains right now. What’s up, guys? Welcome back to the Channel. My name is Kevin Svenson. And today we’re gonna be talking about the price of Bitcoin for multiple weeks now on this channel, in every single video we’ve been discussing that Bitcoin is very likely looking for a bullish reversal and a continued bullish reversal. And right now, Bitcoin is playing out a really nice bullish reversal. And the reason we were looking for this reversal was the volume on the weekly chart. We had record levels of weekly volume, which was a clear indication that we were looking for a reversal in the market. Also, today is April 2nd, which means it is the prime time to join the patriarch. If you like my YouTube videos and you also want to get extra content while supporting the channel. You can join the Patriots and you can get some insight into my all-clear portfolio there. Also, as you guys know, I use the crypto watch platform in all my videos. Let’s say I want to make some profit on this like one position. If I just click on like one scroll down to the exchange that I want to trade on. Click on that exchange. Open the right tab. I’m ready to trade like one immediately. Guys, this is why I love the crypto watch platform is very convenient. You have everything you need. All in one place. Now take a look at the bitcoin price, looking at the weekly chart. Since we hit our lowest 38s 50 on this shuttle, we’ve been discussing heavily that this major spike in weekly volume was an indication that we would get a reversal in a bounceback, just like at 14000 when we saw that spike in volume. That was a reversal point. Just like after this dump below 6000, we hit that low at 30, 150. That was a reversal point. And also at 20000, this was also a high level of volume, also a reversal point. So for all my viewers who’ve been watching my content, we already knew that it was very likely for Bitcoin to have a continued bullish reversal based on this volume signature, those high levels of volume on the weekly chart. Was our macro indicator for a bullish reversal. And we’ve gotten that bullish reversal for the past week on this channel. We’ve been discussing the potential for a bump and run bullish reversal pattern. Now, looking at the daily chart, we can see that bump and run bullish reversal pattern is beginning to play out in order for this pattern to really play out. We’re going to need to get above this current resistance at sixty-eight hundred and seven thousand. If Bitcoin can manage to break above this level, we may see a really nice bullish continuation to the upside, which would very likely bring us up to about seventy-seven to seventy-nine hundred going from the swing high to swing low here with your fib extensions. The next upside target my opinion would be coming in closer to seventy-seven hundred or the 6 1 8 fib. Note these are the two upside targets I’m looking for. Seventy-seven hundred or seventy-nine forty. Something else we’ve been discussing recently is that Bitcoin has been seeing this decline in volume and we have not seen resolution yet from this volume decline. Now if we do get this bullish breakout that I’m looking for, this bump in this continuation of the bump and run bullish reversal pattern on that breakout, we should see nice bullish volume come in and that will indicate that the bulls are making their push. Now, looking at the 4-hour chart for Bitcoin, we can see that over the past few weeks we’ve pretty much just been continuously creating higher lows here. As you guys know, I’ve been remaining bullish for the past few weeks, so we’ve pretty much-gotten everything we’ve been looking for recently in the market. Now we just need to get a breakout above sixty-eight hundred seven thousand and this bump and run bullish reversal pattern would be playing out. So if we can get above resistance right now at sixty-one hundred seven thousand, then at that point we’ll be looking for probably a really nice move bringing us up to potentially seventy-seven to seventy-nine hundred, which could be another fifteen percent to the upside from here. That would be extremely bullish for bitcoin. We will be exiting the downward sloping channel and we would very likely be hitting that seventy-seven to seventy-nine hundred and target to the upside. Another thing to keep in mind is that we’re already trading above our previous December low here from 2019. We’re already breaking above this area. Now this low right here is coming in just above sixteen hundred, which is where we’re seeing a little bit of resistance right now. So right now, this area is acting as a bit of resistance here. If we can get above sixty-eight hundred seven thousand, then, in my opinion, we would be free to move up to seventy-seven hundred seventy-nine hundred. We would very likely be hitting that next bullish target here again. Guys, there’s a lot of demand for bitcoin at these low levels. If you’re looking at bitcoin on the 4-hour chart, there’s a lot of buy action, a lot of accumulation. Not many sellers down here anymore. Right. It seems like the market participants who wanted to capitulate already did. And at this point, people are just looking to buy more bitcoin. These are really great levels to be accumulating cryptos. And as I said, on March 16th, if you didn’t sell bitcoin at higher prices, then you probably shouldn’t be selling now. You should be looking for buys. And like I was saying a couple of weeks ago, you know, after the S&P drops, another 10 percent will most likely hit some support. And that is what we’re seeing right now. The S&P did hit support after another 10 percent drop in a seen a really nice bounce. Kerley creating some higher lows. One of the reasons why the S&P could be seeing a bounce today is because the price of oil did see about a 12 percent move to the upside. Oil prices rise on hopes of a price war truce. There’s been an oil price battle between Saudi Arabia and Russia, and Trump says. It is very bad for Russia and it’s very bad for Saudi Arabia. I mean, it’s very bad for both. I think they’re going to make a deal. So Bitcoin is moving up a little bit with the stock market today. We see a little bit more bullish sentiment, a little bit more positivity in the markets today. We’ll see how this plays out. Hopefully, Bitcoin can break above 7000 and then we will be seeing this bump and run bullish reversal continued to the upside. Overall, just looking at the structure now on the three-day chart, things are looking really bullish. We’ve just been getting higher lows consistently since our flash crash. Bitcoin is already trading above our December twenty nineteen low. So we’re seeing a really nice recovery right now for bitcoin coming back above twenty nineteen prices. If and if we can get a breakout above 7000, I would call that a full recovery from this crash. We would be reentering the 2019 price range for recovery and things would be looking really good for bitcoin if we get the breakout above sixty-eight hundred seven thousand today. Congrats to all the people that we’re accumulating at low levels. We’re seeing really nice gains right now, but that’s going to be it for me today. I hope you guys enjoyed this video. Hit that like one. Subscribe to the channel. Be sure to sign up with the crypto watch platform. Also, today is the best day to join the patron if you want to get extra content and look at my all portfolio. Now we’ll see you guys in the next video.

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