The Quarantine six weeks of gains six weeks since market low back in March will the gains continue in the last twenty-four hours bitcoin breaks seventy-five hundred dollars what is the bullish target to the upside and can bitcoin get there. And there is a one six weeks of gains on the charts for big coin six weeks from that swing low in the beginning of March we’re talking about a hundred percent gains for bitcoin this is the weekly chart for contacts this video just wanna point out eighty seven hundred dollars that fifty week moving average going into this having which is like eighteen days away fifty week moving average big resistance very big area to watch in terms of what is in store for big coin basically as we go into summertime also in the weekly when I just really want to point out is this we’ve seen a bit coin this was kind of out of nowhere because of this pandemic that happened this dip we’ve seen bitcoin dipped back below that forty line on the weekly RSI this momentum oscillator slower moving momentum oscillator under that forty line this right around this pink line here we know under that forty line is really just an incredibly kind of oversold area for bit coin I know oversold is below thirty but in terms of market cycles we know that this kind of signifies the bottom of bear markets right historically we don’t have so much context we’ve had like two really solid bear markets that we can use for this but under the forty line is a really good indicator of where to buy some big points on the weekly chart you can see we keep came back out of there and on the retracement scenario for big coin I look for potential support at that area if the queen does retrace one of the point that out on the weekly but yes do not forget this fifty week moving average eighty seven hundred dollars such cruise over to the daily chart very simple everybody I’m gonna give it to you straight we have a rising wedge with two breakouts it’s a bullish narrative bear scenario prepare for each that’s from here to tell you I’m not gonna hurt not here to tell you what’s going to happen next but I want you to prepare anticipate every scenario find your position what you’re comfortable with right now. Keeping in mind that anything can happen so let’s look at the scenarios let’s try to get some clues what might have a better possibility right so very simple breakout target right around ninety eight hundred dollars out of this rising wage and a breakout bearish breakout target right around fifty five hundred dollars out of this rising wage right now bit coin kind of hovering around seventy five hundred dollars we cruise up for a quick higher high in this room in this wedge in the last twenty four hours or so and you can see resistance right here confluent around seventy nine hundred dollars that’s the first area on the short term to look for for resistance of bickering continues its uptrend the reason why there’s a lot of confluence there we have the two hundred day moving average right we have the upper channel line of this rising wage so to confluent areas and then we have a feminazi retracement area of ninety one hundred down right to that confluent area of the seventy nine hundred so what is that Fibonacci retracement area very simple it is a swing high that we had in February to our swing low that we had in March and we come back up and this is our seven eight six to seven eight six resistance and what else is confluent in that resistance area this is on the daily chart the fifty week moving average eighty seven hundred look at the resistance ahead for bitcoin.
Right around ninety-one hundred down to eight thousand dollars so it’s crazy to look at the resistance but it’s exciting because it gives us a really true data points a nice channel resistance to say if bitcoin breaks that that is incredibly bullish so. We can keep our eyes on this area this is the daily chart cruising over the four hour I just want to point this out to you in the very short term what to anticipate I have a bunch of lines I’m gonna explain to you again here’s the eighty seven hundred dollars right that fifty week moving average resistance we’re not quite there yet but what I want to talk about I did a video yesterday which you too didn’t upload I don’t know why but I basically said I haven’t been doing videos as much and I’ll start doing them again if they clean breaks around seventy four hundred seventy four fifty big coin in the last like eight hours or so broke seventy four hundred oak brook seventy five hundred the reason I was doing this because I was a previous swing high right back in April beginning of April and it’s just been a lot of consolidation since and bouncing around so I just want to see big point break that previous swing high on the flip side of if bitcoin broke a swing low I pry start doing video as well but it broke that swing high and the move is kind of very similar to a swing high the pickling broke from March the end of March resistance back here right some consolidation bitcoin brokers swing high of that area around sixty eight hundred and went on to a higher high finally in April six so we see similarities a swing high again we broke that swing high and now are we going on to a higher high and illustrate what that might look like we can use that same scenario here’s that swing high bit coin was seeing some resistance at.
Right we put our Fibonacci retracements we see right here bitcoin started breaking that swing high and then we had a higher high right at the one six one eight we know using Fibonacci retracement the one six twenty is a great area to anticipate a higher high right and so we can take our same feminazi retracements we can take the swing high resistance right around you know seventy four fifty or sell to our swing low and we have a higher high one six one eight right around eight thousand dollars so now we’re in the fourth the war on the four hour chart we’re talking about around eight thousand seventy nine hundred dollar resistance and what is that again going back to the daily going back to the daily we have resistance right around seventy nine eight thousand dollars the resistance here is insane everybody so we’re at seventy five hundred dollars we are so close to eight thousand dollars first question is is becoming going to make it there right are we gonna see Iran to to eight thousand dollars for big coin that’s what to look out for the short term but a more important question is is big going on a break that a thousand dollars if it does the bulls are going to start making some noise you can better believe that going to the weekly chart just wanna point out to you we have a ways to go right the entrance to the bull market I’ve been saying this since like.
A long time I don’t know when I really started tracking this feminazi retracement however I did a long term chart back here at the bottom of the bear market talking about this have been not to retreat from this is the bull market doors right. It’s a bull market high to the bear market low it’s R. seven eight six seven six one eight resistance we have the same type of resistance back in that last cycle and that was a true entry point for the bull market and the queen made that bull market move through that resistance you know months after the plastic one having soaks similarly right around thirteen thousand to sixteen thousand dollars is still there it’s still waiting in the meantime is becoming going to retrace or we gonna just cruise up there quickly that’s a that’s a question nobody can possibly tell you the answer to but what I do know is we have some really cool clues on the four hour and on the daily chart a move to this breakout target ninety hundred dollars would be the first step to that bullish resistance for bitcoin to break into the bull market we wait we see we track I appreciate come by if you’re hearing after not subscribe hit the subscribe button it means a lot to me your likes hitting that like button on the way out really means a lot to me I truly appreciate you I thank you for coming bye we’ll see in the next video god bless.