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BTC PRICE RESISTANCE! ARE YOU READY FOR A $5,000 BITCOIN?

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And continues to trade sideways, so much uncertainty in the world, so many guesses, the bears, the bulls were going up, we’re going down what’s truly in store for Bitcoin from a technical analysis perspective. A better question, I think as we enter this video would be are we going to see resistance at seven thousand or eighty two hundred? And are we going to see a low of potentially around 5000? We’re gonna talk about that in this video. Hey, what’s up, everybody? Dan here, crypto capital venture hit the like button on your way and it means a lot. I appreciate it. I appreciate the momentum. I appreciate you for coming here on a Friday night. If you’re in the live stream and if you’re a replay viewer, I don’t know what time it is, but thanks for cruising by Bitcoin on the monthly chart. I mean, actually, does it look that bad? Does it? It really doesn’t. Bitcoin on the monthly chart is kind of just. The. Perfect picture to look at. If you’re like. Wondering what’s going on in these markets and you’re searching for patients. Just go to the monthly chart and you’ll you’ll you’ll start to absorb naturally and organically. Patients in these markets, you can see that RSI, these momentum oscillators doing some interesting things. Right. The stock RSI. I mean, really, since our swing high in June has really just come down. We’re entering. We haven’t entered yet. But if Bitcoin got into this oversold area, just. If you miss the boat with Bitcoin. Just be thankful. That’s all I can say to you in terms of the RSI. The more probably a more reliable momentum oscillator. You can see so many similarities in terms of bitcoin at the at did less. This past bear market low and then the last bear market 2015. So many similarities in terms of what happened back then and what’s happening now. Bitcoin’s obviously in the monthly trying to put in a higher low from this bear market low. And right now we have a monthly, you know, kind of a little bit of a turnaround on this monthly chart. It’s something to track. I don’t look at the monthly too often. The weekly, though. I do look at. Right. And so, again, we’re comparing the bear market, the momentum of bitcoin back then to what Bitcoin is doing now. If you’ve been following me, you know that I’m kind of. Just genuine, generally aware and thinking that Bitcoin is going to be coming back down. Right. And five thousand dollars is probably a good target. And I kind of I will like in a move like that to that last bear market low, we came out of that bear market low back here at the end of December 2018. And we came back down for a higher low right around that two hundred moving average. Right. So I’m looking for a similar move. We come off of a swing high to a to a higher low from where we are now. So something like this. I’m looking for consolidation. I started this video saying, are we going to see resistance at seven thousand or eighty two hundred dollars before even something like that happens? Imagine eighty two hundred dollars back down to five thousand one hundred percent in play would not even be the slightest surprise if it happened. And actually, it’s almost like I would. I wouldn’t be surprised at all, actually. So here’s the question where will Bitcoin be rejected? Seven thousand or eighty two hundred? Now we’re looking and we’re going to zoom out on the charts on this daily chart so that I can even still show you the bottom of a bear market. Right. That move that we just looked at, bitcoin came out of that low to a swing high just below the 50 moving average, this blue line, and then started consolidating back down. It’s the same move. Now we’re we’re kind of zooming in here to see what this looks like. Bitcoin’s coming out of the swing low up to the 50 moving average where there’s most likely going to be resistance and then we’re going to come back down. The question is, at what point does Bitcoin see resistance? Right. Is it going to be around where we are now below the 50 moving average or are we going to really test at 50 moving average and maybe even the two hundred moving averages red line at eighty two hundred dollars and then consolidates if bitcoin does what I think it will not do and it just keeps putting in higher, higher and higher lows above the 50 moving average in the 200 moving averages lines up here. If bitcoin does that it will be incredibly bullish for bitcoin and. It’ll just look so good in terms of Bitcoin really, truly putting in this reversal, and I think a lot might have to do with what’s going on in the traditional markets and really just across the globe in general because. We look at this. This is something we’ve been watching. This is the volatility S&P 500 index. It’s kind of a fear index, fear reaching All-Time High. And you can see recently it did last time it got that high was obviously in those markets back in 2008. And I don’t know if it’s even on my screen. I’m going to scroll over so you can see. You can see the fear index, but it consolidated back down. Markets recovered. Right. And we’re looking for a similar move right now in terms of traditional markets. It’s a really good reflection of the mentality and the emotionality of what’s going on in traditional markets. So we’re keeping an eye on that. Now, I keep mentioning. Eighty two hundred dollars. Where’s that coming from? I want to go to the four hour chart to show you. Here is what we’re watching on the 4 hour chart. These are the patterns we have in play. We have our breakout target to the downside out of this pattern, around 5000. And then we have a breakout target to the upside, I’d say eighty two to eighty three hundred dollars. If you remember the the two hundred moving average on the daily chart was right around that breakout target. So I don’t know where Bitcoin. We’ll see resistance. We wait for confirmations of resistance. Right. We wait for breakouts to happen in terms of patterns. But right now, this is what we’re looking at on the 4:00 hour. The question for you is really what’s your plan as bitcoin trades sideways right now at sixty seven hundred dollars? We had a previous swing high, you know, not long ago, testing seven thousand dollars again. You might remember we tested it on March 25th right here. And we also tested seven thousand March 20th right here. So we’ve tested a couple times. And each time we’ve come back down to a new swing low. Right. So that first swing low was a 17, 18 percent gain. That second swing low was another 15 or so percent. Are we going to get another swing low? Coming up to test the bottom trend line from this swing high down to this trend line of another 17 percent or so. That’s what I’m looking out for. I’m kind of under the impression it’s going to happen. I’m not telling you, you know, I’m not telling you this for financial advice, I’m just giving you my honest opinion. And on the flip side, Bitcoin breaking out of where it is now out of this channel. You know, obviously we have a breakout target up here, but even then, Bitcoin, I believe, will consolidate all the way back down to the 7000 level, if not break right back through down and put in a higher low from this previous swing, low of around five thousand, I’d say five thousand six thousand dollars. And that’s what we have to be patient for. If you go to the daily chart, you can kind of see what a setup like that would look like. Bitcoin gets resistance right around this 50 moving average, 200 moving average area. We consolidate all the way back down to even, let’s say fifty three hundred and then we start moving. Right. And then what do we have in play. We have a symmetrical triangle in play that’s taking us somewhere into summertime. And those are the situations that we kind of zoom out on the charts to get an idea of what could possibly happen. And that’s what I’m looking at. Right. This is what I’m patiently waiting for. What I do know is Bitcoin has been cruising up since this swing low on March 13th, right around three weeks now. And I think there’s gonna be a big hit of consolidation that’s going to shock some people. And I think we should all just be a be ready for that. I’m not bearish on Bitcoin. Everybody knows I’m long term bullish, especially if you’ve been watching this channel. But it’s something to watch out for. This is pretty much a lot of the technicals that I’m watching right now for Bitcoin. Other than that, we just wait, we wait and see. One thing that is incredibly interesting to me is this. And actually, let me go back to the let me go back to the screen. Bitcoin having thirty nine days away, everybody bitcoin having is thirty nine days away. So much craziness happening in the world right now. And this is just completely unfazed. Completely unaffected. It is such a bullish outlook for the use case of Bitcoin, for the reliability of Bitcoin network. And I think if you’re accumulating bitcoin right now, if you’re getting ready for this next Bitcoin bull cycle, which I think many are, I am then. The fact that Bitcoin is just fundamentally sound and in place and ready to go, it just couldn’t be any more bullish. So I just wanted to throw that out there. Bitcoin is incredibly bullish from the standpoint of all the uncertainty in the world. Bitcoin is is unchanged and unfazed. And I think when things settle down right, we get things like this volatility index coming back down. People people not being so fearful and worried in the world right now. Markets start bouncing. Bitcoin is going to explode, in my opinion. So that’s pretty much my technical analysis for today, I really just wanted to share my thoughts. It’s Friday. I feel like I haven’t done a video a couple of days. I’ll say this, everybody I know it’s on my heart to say this. I was at the store maybe a couple hours ago. It’s pretty incredible that people are really. People are fear. People are fearful right now. People are scared. And you can see it in their eyes and in the way in their demeanor and Twitter, even Krypto Twitter. It’s everything is talking about Cauvin 19. And there is so much fear going around and uncertainty. And I know that’s it’s definitely weird times. Right. No matter what your opinion on this situation is, because that’s the other thing. It’s gotten so political. And fear might get worse. And I wanted to share this with you. My faith is everything to me. Right. And a lot of you might not like this, but I’m not here to be liked. I’m here to be me. And, you know, I want to share it with you because maybe there’s one person out there that needs to hear it’s. My faith is my rock. Right. I literally through this situation, have no fear because I know that my God is sovereign as he is in control. And I want to just encourage you all out there to be encouraged. You know? The Bible says to be anxious for nothing, but in all things through prayer and petition with Thanksgiving, make our requests known to God and the peace of God that surpasses all understanding. Will guard our hearts and our minds in Christ, Jesus and. That is a rock, that is a foundation in a world where you turn on the news and everything is so uncertain and there is so much fear mongering and there’s so much just death and sadness. There is a rock, right? And Romans, it’s Romans 5 8 talks about how God showed his love for us by by sending his son Jesus. And he overcame. All sin in death there is sin and death in this world where it’s not going anywhere. But we have we have a savior in Jesus and I want to share that with you right now. And Romans 5 10 also talks about the death of Jesus. And this is one one reason Jesus died was to restore our friendship with God. We can have a friendship with God. And I encourage you to seek that. Seek that friendship with God. You will find the peace that surpasses all understanding, I promise you that. So those are my thoughts. I went off I went off on a little tangent, but it was on my heart. I wanted to share it with you. Have no fear. Everybody. I think we’re gonna get through this time. I truly do. And turn off the news. Turn off the TV. Get active. Go workout. Go start something. Get creative. Move around. You know, call people in your life that you love. There’s so much more than than falling into the spiral of this situation because we will get through it. And right now is as a trying and testing time for all of us. So hang in there. I appreciate you. I really do. Thank you for coming by. I hope you’re I hope you had an awesome week. I hope you have a great weekend if you’re still here in the live chat. Hit the like button on your way out. If you’re here now, subscribe. Right, subscribe button. You know, we offer the very best bitcoin technical analysis, that realistic macro view so we can accumulate and get ready for the next bull market. Time for me to go relax. It’s been a long week. I appreciate you. I do love you. I pray for you and your families. I’ll see in the next video. God bless.

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