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THIS BITCOIN INDICATOR JUST TURNED BULLISH!!!

VIDEO TRANSCRIPT

In today’s video is a indicate, though, right now who has been historically most of the times, right. To show us whether this a good time to buy Bitcoins is right now turning bullish again. We are seeing a decrease in the hash rate. I want to have it talk about what could this mean for the price of Bitcoin. And it looks like Bitcoin is decoupling from the stock markets. So, guys, all about that in today’s CDO. With that being said, my name is Shawn. This is the blockchain today, D Channel, where you subscribe for daily crypto videos. And right now, let’s jump into the content, guys. Let’s start with having a look at the weekly timeframe just to get an overview. Let’s have a look at the weekly moving averages. Oh, yes, the green line right here that this the 200 weeks moving average. We have the blue line. That is the 20-week moving efforts and the orange line, that is the 52-week moving average. And Bitcoin is trading right now above all these weekly moving effort shows, which is very bullish. And a blue line right here. That is the most important moving efforts of Bitcoin, 20-week moving efforts because this is the one data mining. Where do we are in a bull market or in a bear market generally? So right here you can see we broke a buffet and eventually we were in a bull market. And Bitcoin didn’t come below the 20 weeks moving average until we entered this bear market right here. A similar thing happened right here at the moment. We broke above the 20-week moving efforts. We had a nice run up all the way up to 14000. But it’s important that Bitcoin is holding this level. So if we are going to see a retracement or a pullback, then it is definitely important for Bitcoin to hold this level. And a 20 week moving average right now is at a proximally eight thousand U.S. dollar. Then when we have to look at the daily timeframe that we can see that this declining resistance sister right here. Bitcoin is trying to break a profit. And we did break a Buffett two times one time. We are getting rejected from the resistance from this upwards, General. And right now we are trading a Buffett as well. And it looks like it is holding some form of support. But if we have a look at the ever side that we can see actually something interesting, and that is that we have broken a certain support level right here. So here the other side, we broke the support right there and we backed this that the former support SDM new assistance. So that was actually quite bearish. This is a yeah. Barassi we are having right now. Any chance that could mean that the momentum is shifting? That was the downside. And that means that the errors I need to cool off before we can get some more bullish momentum again. And the last time you broke the ice report, that was right here. Right. We have support at the moment. We broke that support. That was the first warning that we are going to see some bearish momentum in the price. So there was I was going down and right here we can see as well essentially the price plunge quite hot. Say, the last time we broke the support of the airside, that was actually quite bearish for the price of Bitcoin. But we also have a lot of bullish signs right now. And by the way, guys, if you have look at the hash ribboned that we get, see, it is starting to go down again. That is due to the fact that the hash rate is going down higher. Right now. We are seeing a lot of miners. They are quitting their operations because they are not profitable anymore. This is also something that we expect right off to Hafen, right. Because the earnings of the miners are getting cut in half. So, yeah, therefore, a lot of operations, mining operations will quit and we will see a decrease in hash rate in the short term timeframe. But what does that mean for the Bitcoin price right now? Actually, it can mean two things. It can have a bearish outlook and it can have a bullish outlook. So we are seeing the hash power decrease approximately 30 percent, which means that they are a lot of miners. They are quitting the operations and as we said, to be 40 coughing innocence. Well, possible that, yeah, the moments before laughing when we saw an increase in Behesht power, that was due to all the miners using all of their equipment to mine the last cheap bitcoins. And right now, it is more difficult to mine Bitcoin due to the reduced month in B block rewards. And that could be the same reason why they are shutting down the operations they have installed to be 40. Laughing So that is actually quite logical that we are seeing an increase went in hash power before we halfling and a decrease in horsepower of the behalf. And now comes the important question, of course, is this bullish or bearish for the price of Bitcoin? Because miners, in general, can cost a lot of cell pressure on the price, although it might look bearish. I think it is actually bullish that we are seeing Behesht Power decrease because that means that the weaker hands are out of the market and that they are also not selling their mind bitcoins anymore. And that the more Swanger hands, which my. That’s a bigger incentive to huddle Bitcoin. They stay, which eventually will create. That there is less selling pressure on the price of Bitcoin, but it also means that we shouldn’t see the hash rate decline much further, because if we are declining much further than most likely, we are going to see an inversion in the hash ribbons again. And normally when we are seeing an inversion of the hash revenue, that is a bearish signal in the short term. But when this referring back to normal levels, then we are getting a bicycle and these buy signals. Most of the time, historically fairly good indicators to show us a good time to buy Bitcoin. And so any previous HARL thing right here, we have seen as well a decrease in the hash power right there. And eventually, we did saw a little bit of minor capitulation right here, this red area before we saw it increase again. And got a buy signal. So what is normal and healthy that after the halfling we are seeing a decrease in a hash Raybon, although it is not so healthy when we are seeing an insertion of the hash ribbon. You can see as well that the information right here, the moment we inserted as well, we showed it in this huge sell of any price of Bitcoin, showed an inversion in the hash ribbon. It’s definitely a parasite in the short term. However, a decrease in the hash ribbon is more than healthy and could be even bullish. And for the people who are interested in trading Bitcoin, I definitely recommend using the fair mix exchange any Fenwick’s exchange. Just had a new update and is right now offering Ashwell spot trading. And next to spot trading, they also have Simelane the trading. So you can actually learn how to trade without using a real bitcoin, of course. But the spot trading option is very nice as well. And normally, spot trading is only open to premium users, but you will have several fees. But right now, if you would sign up, you get a trial version and you can, yes, spot trades for one week for free without paying any fees. So, guys, this is a nice option they have. And yeah, diplomates exchange is by far one of the best exchanges to trade Bitcoin, if you would like to sign up on the same exchange. I have an affiliate link Downbelow and description or any bent comments. And when you sign up with my affiliate link, you can get an additional bonus of 92 U.S. dollar when you deposit zero dots to Bitcoin. Then, guys, a not a bullish sign. We are getting right now instead of Bitcoin and the stock market, they don’t look that correlated. So right hand is a red line that this the S&P 500 and we are seeing some sideways action wide, even a little bit some downward movement and any price of bitcoin. Yeah, we are definitely doing different things. We are in an uptrend. And Bitcoin is actually looking quite bullish, in my opinion. So generally, this is a very good sign because I think personally that the stock market isn’t looking that good right now. And if we could see a bigger sell-off and a stock market that I think that definitely could track Bitcoin down. But the more we are uncorrelated, the less effect will it have on the price of Bitcoin. And what we have looked at, the one-hour time frame that we can see that this bought line Bitcoin is quite holding well. We had also a report in the airside, which we broke actually right here. We had trending support. We broke it. We backtested it as resistance, which is a bearish indicator, 40 momenta wide. And what happened? Eventually, Bitcoin came down and tested this support right here. No, the Buddhist thing is that we are getting a bounce off this support and that we are still holding these levels and that we didn’t probe through and try to test the support right here. So actually, this is looking quite bullish for Bitcoin. It doesn’t look like even Dody momentum. It needs a breather, needs to cool off. It doesn’t look like you have Bitcoin is getting a huge negative effect from that. It is still trying to boost. That was the upside. And guys, let’s have a look at the following indicator that because the following indicate that is showing us that right now is a great time to buy Bitcoin. And this indicator is the Pew will multiple and it shows whether they sell you off Bitcoin concerning its daily issuance is at extremely low or extremely high. And if the Puel, Modibo, goes into the red box in the extreme highs, it shows off that historically it is a great time to sell Bitcoin. And if we are in the green box, it is showing us that it is a good time to buy Bitcoin. So let’s have a look at a couple of examples right here. Bitcoin was indeed green box. And yeah, we were quite close to a bottom. Right. The same ride next time when we were in the green box, we were also. Yeah, quite close to a bottom of that period here, we were in the green box as well, which eventually was as well. The bottom right here. We saw something similar the moment the Puel multiple went into the green box, Bitcoin actually bottomed and there was a great time to accumulate Bitcoin. And right now we are seeing something similar. Guys show here at the moment when Bitcoin had this huge drop to the upper freaking levels. We went into this green box, but right now we are seeing Bitcoin as well in the green box. So this indicator clearly showing that right now it is a great time to accumulate Bitcoin. And it shows that investors who bought Bitcoin when it was in the green box right here, that they have an opportunity for a great return on investment. So this is definitely looking bullish. I think Bitcoin in general right now is looking bullish, although there are a couple of things we have to take in mind. And right now that is the hash rate. If we are going to see some minus capitulates more or are we going to see just this decrease in the hash rate, which is quite healthy? Then another thing we have to take a good look at is the S&P 500. If we are going to see a steady decline in the S&P 500, I think it could be even bullish for Bitcoin that we decouple and that Bitcoin is continuing this uptrend. However, if we are going to see a liquidity crisis, a huge sell-off in the S&P 500, then I definitely think that that can affect the price of Bitcoin as well, negatively. So, guys, let me know what you think. Do you think the hash rate right now helps healthy shine off bitcoin or is this something that wants us already off some form of capitulation? And what do you think about the S&P 500? Do you think it is bullish right now that we are seeing a slight decouple? And do you think that if we are going to see a sell-off any regular stock markets, that it will affect Bitcoin? Guys, let me know what you think. Downbelow, any comment section? Okay, guys, that was for today’s video. I hope you all enjoyed it. If so, please leave a thumbs up. If you haven’t subscribed to this general, then please do so. I am uploading an everyday new crypto video, and if you want to learn how to trade Bitcoin, you can watch one of my tutorials. And I wish you último. And don’t forget to do.

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