In today’s show, Bitcoin surge, 4000 percent after it took this level in 2016. And it just happened again. This is relevant for Bitcoin because the last time Bitcoin claimed this technical level was an early 2016 when Bitcoin was trading around five hundred dollars and prior to the 4000 percent rally that brought Bitcoin to twenty thousand dollars just 20 months later. We’ll be breaking down this critical indicator here in today’s show. Also in today’s episode, the Bitcoin supercycle theory ignites crypto Twitter as the bitcoin having approaches. Taking a look at this thread here by Plan B of the stock, the flow model, it now has four point two thousand likes and one point four thousand read tweets. We’ll be breaking it down for you. Here in today’s show. And as you can see, the Bitcoin having its just nine days. Twenty two hours, 47 minutes and 40 seconds away. This is something that is a pretty big deal here in the crypto space. So we’re gonna be discussing it here in today’s show. And also, we’ll be taking a look at the overall cryptocurrency market. As we can see, Bitcoin and many of the major cryptos are back in the green, whereas the bitcoin price likely to go from here. Find out this plus so much more in today’s show. Here at the news alerts, I drop a brand new episode every single day, so be sure to smash that subscribe button and click that icon to receive notifications of the latest premium crypto news. And before we kick off today’s show, if interested in attending a free online event and Q&A session with the number one most trusted person in cryptocurrency and titled Five Coins to five million, your last chance until 2024 with the one and only, take a worry for your chance to discover a handful of tiny krip those that can turn five hundred dollars into five million thanks to a crypto market phenomenon. You won’t see again until twenty twenty four. Again, this is brand new. Never seen before. May 6th, 8:00 p.m. Eastern. Live Q&A session to discuss these final five points to five million. Your last chance until 2024. Click the link right down below in the description to lock in your spot and RSVP for this live event. All right. Welcome back to another episode of Crypto News Alerts. I’m your host, J.V.. And let’s dive right into today’s top story of the day. Bitcoin surge. Four thousand percent after it took this level back in 2016. And it just happened again earlier this week. Bitcoin erupted from seventy seven hundred to ninety five hundred within the span of just around 24 hours. It was a move that allowed the crypto to print an extremely strong monthly performance that ended with a bullish engulfing candle. While many took this candle as a decisively positive sign, one trader called the sentiment into question, noting that the bullish engulfing candle is a big misnomer. Technician Thomas Koski wrote himself that bullish engulfing candlesticks are anything but signs of macro reversals. His is quoted saying these candles act as a temporary reversal of a downward price trend. This is also one of the trading setups. I suggest you avoid. Why? Because the primary trend is downward. The bullish engulfing candlestick reverse that trend, but only for a short time. The primary downward trend takes over and price resumes falling. However, Bitcoin recently made another technical accomplishment that could negate the bearish effects of a bullish engulfing candle. That’s right. Bitcoin retakes crucial key level that catalyzed a 4000 percent rally back in early 2016, according to a crypto trader. Bitcoin strong rebound in April saw the cryptocurrency close its monthly kandal above the key level of the Moku cloud. On the one month chart. All right. Taking a look at this tweet from trader Smokey, who wrote Daily Ichi Moku will very likely confirm fully bullish on today’s close, as well as the two day Kumo breakout with the bullish kumo twist. I cannot not be bullish on quarter two. I want to buy the dips. This is relevant for Bitcoin because the last time Bitcoin claimed this technical level was an early 2016 when Bitcoin was trading around five hundred dollars and prior to the 4000 percent rally that brought Bitcoin to twenty k just twenty months later, this historical precedent suggests that the crypto market is on the verge of its next parabolic rally. I repeat, this historical precedent suggests that the crypto market is on the verge of its next parabolic rally. If you’re ready, let me know in the comments below. I know I’m ready. I’ve been waiting a very long time. The latest of many bullish signs. This is the latest of many historical relevant signs that Bitcoin is soon going to erupt into a full blown bull run. Let’s go BTC Bitcoin’s trend. Earlier this week was so strong that amid the peak of Wednesday’s rally, a trader observed an unexpected technical occurrence. The Relative Strength Index, also known as the RSI reading of Bitcoin’s when our chart hit ninety six point five, just a few points shy of the top of the oscillator, which is one hundred traditional forms, a technical analysis state that whenever the RSI passes the level of 70, it is overbought over the timeframe that is being analyzed. The fact that Bitcoin’s one hour RSI briefly hit ninety six point five means that it was extremely overbought, almost to the point of lunacy, according to a crypto trader. The last time this metric was this high for Bitcoin was in April of twenty nineteen. On the day that the crypto rocketed twenty five percent higher within the span of a few hours. What followed this move was an extended rally from the four thousands to fourteen thousand within three months. Similarly, a trader shared the chart in the wake of Bitcoin’s recent strength, noting that the rising wedge that had constrained Bitcoin’s price for the past six weeks has been decimated with clear invalidation to the upside. Yea, what’s especially notable about this formation of Bitcoin braken above the rising wedge after a bear market. This is the exact same market structure that marked the start of twenty nineteens Bullrun that brought prices from the 4000 to fourteen thousand dollars in just three months time. As we can see right here on the chart brought to you by rookie SBT on Twitter. And before we get to our next story of the day entitled Bitcoin Supercycle Theory Ignites Crypto Twitter as the Bitcoin having approaches. Let’s take a look at the overall cryptocurrency market. Bitcoin currently up point seven percent for the day trading at eight thousand eight hundred and seventy one dollars. We have a theory come up point four percent, trading at two hundred and twelve dollars. SRP up one point six percent, trading at 22 cents. We have link up point nine percent, trading at three dollars and eighty three cents, BMB down point three percent, trading at seventeen dollars and 42 cents. We have missed slight coin down point zero four percent. Trading at forty seven dollars. Bitcoin cash down point eleven percent. Trading at two hundred and fifty four dollars. And Satoshi Vision dead even. Trading at two hundred and ten dollars. I would like to see Bitcoin break that nine thousand dollar resistance and retest the ninety five hundred dollar level, which is where we broke down last time. We just did this parabolic surge from about seventy seven hundred to ninety five hundred two corrected to where we’re currently at. I think if we can break that ninety five hundred dollar resistance will continue inching forward leading up to the having. I’m still very bullish around this time considering that having is just nine days out. There’s a lot of institutional money flowing in to the crypto market at this time. And now checking out some of the volume on the top exchanges we have buy announced down 38 percent for the day with about five billion in volume. Okay. X down 31 percent for the day with about two point four billion in volume bit next, down 36 percent with two point two billion in volume. But this is normal considering how much volume we’ve had in the past couple days into the crypto market. I mean, I saw Buy announced the other day like over 15 billion dollars in volume in a single day. You know what I mean? So there is still a lot of money flowing even though we’re down in the past 24 hours. All right. Now for our next story of the day. Bitcoin supercycle theory ignites crypto Twitter as the bitcoin having approaches a prediction that Bitcoin is about to begin. A fourth parabolic phase that will bring the leading crypto to more than a quarter million dollars is lining up the crypto verse, to say the least. A post revealing the new forecast from price analysts Plan B of the stock, the flow model shot across crypto Twitter this week with more than 40 200 likes. At the time of publishing. But the forecast itself has reignited a great debate on the relationship between bitcoins having which will slash the rate of the new Bitcoin entering the market in just a matter of days, nine days, to be exact, and the price of Bitcoin, according to Plan B, who recently told Morgan Creek digital co-founder Anthony Pump, Liano shot out the pump that he’s a member of an institutional investment team that manages roughly 100 billion dollars in assets. His latest stock, the Flow Model, shows Bitcoin rising to two hundred and eighty eight thousand dollars by the end of twenty twenty four. The forecast analyzes Bitcoin scarcity by removing time and grouping Bitcoin’s growth in phases, representing its transition from a proof of concept to a potential payment method to a store of value and then a financial asset. Plan B says that the relationship between Bitcoin’s price and its scarcity determine by dividing the overall supply by its yearly production are coin degraded. That term implies the relationship is especially solid, as if the ratio and price are tethered to one another and taken a look at his tweet here on crypto Twitter. My third Bitcoin article, Bitcoin stopped the flow cross asset model entitled S to F X as in stock the flow X. So we actually added the other assets to this chart, which is actually pretty cool of him to do. Macro investor Rowel Powell says that the new model, which Plan B designed to also evaluate gold and silver, offers a powerful method of the analysis. Here’s what he tweeted on crypto Twitter. This is what I saw in the model when he first revealed it. It gives a great valuation for not only Bitcoin, but gold and silver, too, and other similar assets. It’s super powerful for relative valuations and outright valuations for all these assets. Amazing work. That’s right. However, at the same time, this forecast is also earning plenty of detractors, including economist Alex Krueger. He says the fact that Bitcoin scarcity is locked in and not random fundamentally destroys the predictive power of the model. Here’s what Alex Kruger tweeted on Twitter. Bitcoin stock, the flow and price are not going to grated. Therefore, the stock, the flow model has no predictive power. Stock the flow cannot be used to predict price stock. The flow and price are not integrated because stock the flow is not route process. An example, not random. And then he went on to include debunk integration by arguin stock the flow as a stationary variable and Quinter Gracian can only be present among non stationary variables should be integrated to the same order. Thank you. Alex Krueger for sharing your two. Satoshi is another longtime criticism of Bitcoin stock. The flow chart is that it is based on small number of data points with Bitcoin going through just two prior hangings in its short history. Since those having Bitcoin has also become increasingly institutionalized, leading coin shares Chief Strategy Officer Meltem de Mirrors to argue that the rise of fut. from the likes of the CMC has fundamentally made Bitcoin’s future price far less predictable. So what are your thoughts surrounding the stock, the flow model by Plan B? Do you feel it could be accurate in predicting the future price of Bitcoin? Let me know your thoughts in the comments right down below. Me personally, I do feel it has been accurate over the past decade. And I’m looking forward to a two hundred eighty eight thousand dollar Bitcoin price. I don’t know about you play around if you won’t. But that’s where we head in to the moon, my friend. All right. Now, taking a look at the Bitcoin block reward having countdown. We have nine days. Twenty two hours, 22 minutes and eight seconds remaining. Currently, the estimated date for the Bitcoin having set to be May 12th. This could change because it’s all depending upon the block reward. Right. And now taking a look at the overall cryptocurrency market cap, we’re sitting just under a quarter trillion dollars at two hundred and forty nine billion with one hundred and thirty four billion in volume in the past 24 hours. And the current BTC dominance is still on the climb at sixty five point five percent. And taking a look at the top gainers within the top 100. We have digits, right? Go, Deji. Up 16 percent. Trading at one point eight cents. The central land up 11 percent. Trading at three point six cents. Had there a hash graph up 11 percent, trading at four point three cents higher on up nine percent. Trading at 34 cents. Fada up eight percent. Trading at thirteen and a half cents. Zyla quar up five percent, trading at point 006 and ZET coin up three point eight percent, trading at four dollars and 37 cents. And now for the biggest losers for the day. Within the top 100, we have streamer data coin down nine percent, trading at seven cents higher, down seven percent, trading at thirty seven cents. Unit bright down six percent. Trading at thirty one and a half cents. Energy down three point eight percent. Trading at three dollars and 43 cents. Aive down three point four percent. Trading at four cents. Zibi Tolkan down one point seven percent. Trading at 24 cents and bit shares down one point six percent, trading at two cents. Now let’s check out the bit MECs margins. We can see the bulls are back in control, but barely leading with about 17 million and superiority in the last 24 hours, with longs leading fifty point four two percent versus forty nine point five eight percent shorts. Are you currently bullish or bearish? Let me know in the comments below. And now checking out the Crypto Greed and Fear Index shows we’re currently rated a 40 in fear. Yesterday was a 40 in fear. Last week at 28. And fear. And last month, a 12. And extreme fear. Hey, this is a good sign because we’ve been in extreme fear for like two months and now we’re finally inching our way back into fear and maybe in the next few days we can be neutral again. Let’s see if you’re not familiar with the Crypto Greed and fear index. Extreme fear can be a sign that investors are too worried. That can be a buying opportunity. And when investors are getting too greedy, that means the market is due for a correction. 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And real quick before I go, if interested in attending this free online event and Q&A session on Wednesday, May 6th at 8:00 p.m. Eastern with the one and only take a worry. The number one most trusted person in cryptocurrency entitled Five Coins to five million. Your last chance until 2024. Discover a handful of tiny crypto currencies that can turn five hundred dollars into five million thanks to a crypto market phenomenon. You won’t see again until twenty twenty four to register an RSVP. Click the link below this video in the description. It’ll take you here. Simply enter your favorite email address, lock in your spot and I know you’re going to enjoy it and I’ll look forward to catching you on tomorrow’s episode. Peace.