In today’s video Bitcoin broke out of the descending triangle to the upside. What does it mean for the price of bitcoin and could Bitcoin still trade in this bear flag formation guy. The Federal Reserve they just announced that they are going to launch a quantitative easing program with no limits and that means that they can support the markets with a limited amount of money printing. I want to look if that reflects on the stock market and I want to compare that with the gold and Bitcoin chart show guys all about that in today’s video with that being said my name is your own this is the blockchain today D channel where you subscribe for daily cryptic videos and right now let’s jump into the content. Bitcoin broke out of this descending triangle and although a decent triangle is normally a bearish bet on it it is possible of course that the price will break out to the upside. It’s all about probabilities right and the probability was more likely for bitcoin breaking out to the downside rather than to the upside. But yeah we had a breakout to the upside. We had actually a nice breakout. The volume was declining. The moment we broke out we saw an increase in volume. A spike in the full year and therefore we can’t confirm this breakout and the target of this descending triangle is the width of the triangle put at the point of a breakout right there and that would bring the target to seven thousand two hundred and fifty. And that level will be above all resistance level at approximately seven thousand one hundred fifty which is lining up roughly sixty-one point eighty percent. The golden ratio of people at sea level. And here you can see it clear if we used to a Fibonacci retracement to every measure here from the top till the bottom then is sixty-one point eighty percent is right here and we have already touched that level. We got rejected. We bounced back to the thirty-eight point twenty percent. And right now we get a bounce again. And yeah we might touch the sixty-one point eighty percent again and guys. The nice thing of trading a breakout is that it doesn’t matter if the price is breaking out to the upside or to the downside because you could trade both moves. So if bitcoin was breaking out to the downside and we do see an increase a volume spike then that could be a moment too short. Bitcoin right there but it’s the same the other way around. Right. If we do see a break out to the upside we expect the price to break up to the downside. But yeah that doesn’t happen always. Then we still could trade it Bitcoin breaks out of this resistance line we see a spike in it for you. That is the moment that you open your long position and if you want to trade to break out it is better to use a market order instead of a limit order. Because if a market order you are ensured that you will be entered into your position and that is the positive thing about trading breakouts. It doesn’t matter where the price is going because you can trade it either way. I personally think that the Fed makes exchange as one of the best exchanges right now to trade Bitcoin. They also offer a lot of different paths. They offer a 3M repo chain link it shows and they’re like a coin but they as well offering to trade gold so you can actually trade the gold with depositing bitcoins that is actually a cool thing. And if you like to join the Fed Ex exchange you can use my affiliate link down in the description below or any bent comment. So Bitcoin broke out to the upside from this descending triangle. But what is happening right now in the price of bitcoin? Well, guys honestly I think there is still a possibility that Bitcoin is trading in this bear flick formation but a bear flag is only confirmed when we have a break out to the downside which means that if we would break this up but support right here we could expect a bigger drop in the price of Bitcoin. And guys one of the reasons I think that bitcoin is shushing together with gold is because of this news articles we are hearing right now about quantitative easing a lot of money is getting stimulated into the economy. And normally that is always good news for Scotch assets. And this is one of those news articles the Federal Reserve just blessed asset purchases with no limits to support markets. The Federal Reserve announced a barrage of new programs to help keep the market functioning. Among the moves is an open-ended commitment to keep buying assets under its quantitative easing measures. There are multiple other programs including one for Main Street business lending and others aimed at keeping credit flowing. The Fed will be moving for the first time into corporate bonds purchasing the investment-grade securities in primary and secondary markets and through exchange-traded funds. So, guys, this is actually big news. The Federal Reserve just announced that they are going to catch the whole economy. They are going to buy up all the assets they are going to print as much money as they need to buy up all the assets to prevent the economy from collapsing further. And that means that massive but I mean massive amounts of money will be printed and will be injected into the economy which will cost a great percentage of inflation. And it might even be short in hyperinflation as we have seen in Venezuela or Zimbabwe. So guys right now we are definitely at step four of the liquidity crisis. That means that soon will come. A rush to scotch assets a rush to bitcoin and a wash to gold and there is something really interesting happening in the charts which are confirming that. But guys. Quick Summary. The Federal Reserve just announced that they are going to launch a quantitative easing program. But without these programs, it is just one unlimited program where they can just buy up anything to yet to prevent the economy from collapsing. But let’s go to the charts. I want to show you guys something interesting. So guys the news of quantitative easing the news of the federal we reserve are going to print unlimited amounts of money to buy up assets any markers has not yet been reflected on the stock market. But I wanted to show you this graph and this is the stock market compared with the gold chart any bitcoin chart. And basically you are seeing the stock market here in a downtrend and you’re seeing Bitcoin which is this orange line reversed into an uptrend. And gold as well had a bounce reversed into an uptrend. And guys now comes the important question is this the rush for sound money. Are we in the latest step of the liquidity crisis? Personally I don’t think so yet. And I have some reasons for that. I want to discuss with you but guys I do want to point out that this is looking extremely bullish. That means that bitcoin is correlated with gold in times of turmoil right now and that people going into Scotch assets due to the actions of the Federal Reserve and that bitcoin is falling on that that Scotch assets category. So these signs what we are seeing right now I do think that that is very very bullish for Bitcoin. And that proves us as well that Scotch assets are popular among these periods and guys this is the graph I wanted to show you and this is the get two thousand eight housing market crash and the housing market crash happened right here. And from there we only went down and the. Yeah, the yellow line on top of this chart is the gold price. And what you can see here and the chart is that there is a in the first correlation between the stock market and a scotch asset like gold. We are seeing the stock market decrease we’re seeing gold increased then we see an increase in the stock market and we see a decrease in gold then we see a decrease in the stock market and then we are seeing an increase in gold and maybe that is something that we are seeing right now a decrease in the stock market Scotch assets are going to increase. But when we might see a bounce in the stock market then we are seeing Scotch SS decrease again I think that is definitely possible. So that doesn’t mean that we are right now have made the transition and have decoupled from the stock market. Of course, that is a possibility but as we can see in the previous economic crashes is that the bottom of the Scotch SS is right before the bottom of the stock market. So here you can see that right before the 2008 financial crisis the market has bottomed right before that we saw a reversal in gold. And yet we have seen a clear uptrend and that followed by a huge bull run. So, guys, I thought that it is interesting to point out that every spike in the price of Bitcoin with a decrease in the stock market doesn’t mean directly that the two of them completely uncoupled and that bitcoin is going to move right now. But I also want to say these are not bad times to dollar-cost efforts your position and so so yes that is something to think about. But what I was thinking yesterday the Prime Minister of the Netherlands has announced that for now becoming two months everything will be close to bars the hotels and restaurants will be closed. So that means that a big part of the economy won’t get any income for the next two months and that is in the Netherlands where we actually yeah we are not doing the best any amount of total confirmed growth at 19 cases but also not the worst. The amount of confirmed golf at 19 cases is still growing at quite an exponential growth. Yesterday we had below the tree one hundred fifty thousand confirmed cases. So that means that in one day more than thirty-two thousand cases got confirmed again. And that also means that it is not over yet. In my opinion when we are closing in Holland all these shops bars restaurants and hotels that I think people are underestimating what this is doing with the economy. And if we have a look at the United States the amount of confirmed cases is really increasing extremely day by day. That job is going parabolic right now and that will have also an effect on the economy in the coming months because most businesses are designed to function on a running economy and if they have to close for a certain amount of months then that could be fatal for their business. So you guys I do think that this COVID19 problem this coronavirus isn’t over yet. And although we do see the government right now stepping in and printing money helping the economy I personally still think there is more to come because we still have exponential growth in the number of confirmed cases which will lead to sanctions lockdowns which eventually will lead in hurting the economy. But guys that is what I think right now. What do you think? I am curious to do you think that we have seen a bottom any markets right now and that we could transition into a new uptrend or do you think that the stock market will collapse further and that the Scotch assets like gold and Bitcoin will continue to increase. Or do you think something else? Guys, I want to know what you think. Let me know in the comment section down below. OK, guys. That was for today’s video. I hope you enjoyed it. If so please leave a thumbs up. If you haven’t subscribed to the channel yet then please do so I’m uploading every day a new crypto video. And if you want to learn how to trade Bitcoin you can watch one of my tutorials and I will see you all tomorrow. And don’t forget to auto.