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CRAZY BULLISH SIGN FOR BITCOIN!? – Don’t Miss Out! – BTC Price Analysis

VIDEO TRANSCRIPT

Bitcoin is slowly moving to the upside. Again I’m going to tell you guys why I believe Bitcoin will go much much higher in the coming days. And also I will talk a little bit about gold and why gold pumped in the last two days and what this could potentially mean for bitcoin. Definitely stay tuned because you don’t want to miss this. So if we look at Bitcoin right now we can see some very important things. And the first thing is that Bitcoin is still holding this trend line that started last year in the summer and Bitcoin bounced from its One Two Three Four and five times. And right now it is a profit for the sixth time which is generally a very good sign for me and I believe that Bitcoin will likely not break under this trend line any time soon. But in general, Bitcoin has been making quite a big comeback to the upside and that’s very very good. Now the first thing that we can clearly see right now is a rising wage in a rising which is, of course, a bearish continuation pattern. No, I don’t believe this is a high probability but I do expect bitcoin to kind of bounce between this trend lines before potentially having a new move to the upside. And also it’s very clear that Bitcoin got some very strong bounces from this wide trend line. And Bitcoin got one bounce right off there which was 50 percent to the upside. And then over here it’s got a 50 percent move to the upside and then bitcoin bounced again on this trend line 80 percent move to the upside right now. So you can see that if bitcoin is going to come down one more time than it might have another bounce to the upside potentially around 10 percent before having a new move to the downside. So you can see that the bounces are kind of getting weaker and bitcoin right now is finding some resistance on this area right over there so it is possible that Bitcoin might actually bounce from it one more time and then actually break this trend line then maybe have some downwards movement but it is also possible Bitcoin might actually bounce again from this front line and maybe set some kind of a double bottom. Right now there’s still a lot a lot of possibilities that are open and I’m not necessarily too bearish or too bullish I would say that I’m more on the bullish side and the reason for that I go a little bit into that later. But in general, Bitcoin did go to a very strong bounce to the upside. It had a big dump to the downside but now it is up almost 75 percent since the low at three-point eight K and Bitcoin really seems to hold this level quite well. And I do believe it is more likely for bitcoin to have a continuation to the upside in the medium term. Now it is possible Bitcoin might have a correction in the short term but it is something I’m not too certain about yet. I believe in the coming days we might have more information about a possible move to the downside. But again right now as long as Bitcoin doesn’t break this wide front line I believe that Bitcoin is in the short term bullish. Now what we saw in the last couple days and I talked about this as well in a telegram but we saw a very clear double bottom right there that kicked to the upside and then we saw a smaller double bottom right over there kick bitcoin to the upside. So these two parents are very strong parents in bitcoin and I’ve talked about it of course before and it’s very nice to see this pattern play out because as you guys know the double bottom is probably my most favorite pattern in bitcoin it’s a very very common pattern that you see quite often. And they basically play out in the last couple days and that’s very nice to see now. Also something very important to look out for is that death cross it’s about to happen. I tell you it was gonna be today but it seems like it is going to be tomorrow. And basically that cross is when the 50 M.A. goes under the 200 DMA and generally this is seen as a bearish sign but I actually gave every golden and bearish cross a color and the Green Line is a golden cross. So this should mean bullish price action. And then I’ve given the death cross a red color and you can see last time when Bitcoin said at that cross it pumped 40 percent to the upside and last summer it set the golden cross. It actually has a little bit of a pump to the upside before continuing to the downside. Now we did see one fell it’s a golden cross right up here and bitcoin actually did have a dump to the downside a little bit before having a huge blast off to the upside. And we also saw a fail it’s death cross right over there. So we have seen fell as an envelop going across before. But if you go back to all the way to 2015 you can see that there were plenty of infected death crosses and bull crosses right here between set a death cross and then it’s pumped to the upside here it’s at a bull cross and then it had a dump to the downside then this death cross was actually fell it and then bitcoin went to the downside and then over here it set an NFL its golden cross and then bitcoin had a dump to the downside. It’s an NFL it’s death cross between had a huge blast off to the upside and then it heads again one fell at Golden Cross. So it’s very common for death crosses to be invalid. And I do believe that this death cross as well Bill be invalid. I believe that this will be one more death cross and Bitcoin will actually have an opposite price reaction. It might have a little bit of a down movement before having a potential new move to the upside and then we might be looking the price slowly moving forwards but yeah there is hope speculation right now about these poor crosses and the death crosses but I do actually expect that it’s more likely for this death cross to be infected and as we could see similar bullish price action. I mean not a 40 percent pump to the upside that we saw last time but I do believe we could see maybe a 10 or 20 or 15 percent move to the upside. That’s all speculation of course but I do believe tomorrow will be a very very important day because of that cross. I’m gonna have a quick look at the gold chart. And gold is doing something very interesting. So gold had similar to Bitcoin as well a very big dump to the downside and then bitcoin was actually fighting back. But a gold kind of states down here for a couple of days. But in the last three days, it had some very nice price action to the upside about 12 percent and gold is pumping to the upside right now meaning that people are trying to jump into gold to protect their wealth against inflation because as you guys might know the new virus crisis that is right now happening is causing the Federal Reserve the U.S. government to print a lot and a lot of new dollar bills. And of course rich people they’re going to lose a lot of their wealth because of inflation and so they’re looking of course to safe havens such as gold and Bitcoin as well is also supposed to be a safe haven and that we are right now seeing that very big move to the upside in gold could be a prediction that Bitcoin, as well as a potential safe haven, is going to follow in the coming days. And if you look at a chart right now you can see that overall Bitcoin is continuing to go to the upside. So maybe we will see Bitcoin following gold as well in the coming days where we at home might as well have a big breakout in the coming days to the upside. Now it did say in the last few days that I was looking for a long position if Bitcoin wins one more time. Back down to about that five point three five point four area and I said I would be looking for a long position and I was also looking to buy back more bitcoin. But if you look for instance right now at the gold chart and the potential death cross that is coming up I do feel that this scenario is much more unlikely now. It is possible this is still a double top with a correction that might break this trend line and then we might see a larger double bottom to the upside. Now that is possible but right now I am not expecting this scenario to play out. Now I really Bob quite a bit of bitcoin when Bitcoin broke that a white front line and I as well share it is on my channel. So right now I am fine If bitcoin is going to have a crazy referral to the upside I will be enabled to make some profits off that move. So right now I am not looking for a long position or a new buy entry if bitcoin is going to make a reversal to the upside I am happy because I already bought. But if Bitcoin isn’t a comeback down one more time I will potentially be looking more I will potentially be looking to buy more bitcoin and potentially go into a long position because in the long term I do believe Bitcoin will go up again but we have to really see what bitcoin is going to go and do in the coming days. I am going to keep an eye out for the gold charts because that’s potentially going to give me some clues where bitcoin might have in the future. And I guess everything I wanted to tell you guys today. Thank you guys so much for the support that you guys have been showing on the channel. We got a lot of likes. We got a lot of new subscribers. Let’s try to get a 1000 likes on this video and hope education join this video. Make sure to join the Free telegram the link is in the description and I’ll see you guys in the next video. Bye bye.

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  1. The moving averages are lagging indicators so they dont tell you where you are going they tell you where you have already been. The death cross price adjustment already occured with this recent price crash. Because the price recovered so quickly we may not see the lines cross or they will cross then cross back up quickly if the price continues up.

  2. Hello again buddy, another great video and still loving the TA. The simplicity is awesome but so effective, looking forward to hopefully furthering my own education on providing successful TA to my own trades. Very much to learn, yet alot still hindering but I do hope to overcome. See you next time, peace and health to you.

  3. I don't like to trust the crosses. It seems like an illusion that may or may not never play out. After been trading for 3 years in BTC now i firmly believe that the price just goes where the whales want it to go. However, TA can give us some clues nevertheless. And it usually do the opposite of what ppl expect. So what i do now is just keep longing the dip and that's it. Anyway, thanks for all your vidoes! Love your TA!

  4. 10 minutes of generalized cherry picked post technical analysis. sometimes it did this. sometimes it did that. it might go up. it might go down. basically you can't be wrong, but it's of no real world practical usage other than a very rough guide

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