Bitcoin consolidation, the calm before the storm and we visit and altcoin that has proven to be an excellent indicator for big bitcoin moves. What is up, everybody? Duke Dairy. What’s up? What’s up, Twitter? What is up YouTube? If you’re watching this replay of your video, hit the like button on the way. It means a lot. I’m gonna talk about Dash as a leading indicator for bitcoin. I mentioned it in my video earlier today and I said I would do a video tonight to kind of discuss this. This won’t be a long video, but I’m going to look at the charts to really give an idea of what’s going on. I did this tweet. Dash has been a reliable indicator for Bitcoin. dash is currently up around 13 percent in the last day. It’s something I’m watching. I think it’s something that we all should be watching now. For context, this video, just to remind you, in case you weren’t even there, just to show you, we had this inverse head and shoulders on dash back in. When was this? And this is not drawn very well. Just let you know. But this is the time frame when we were tracking this inverse head and shoulder break out on Dash. This was March 18th. It happened prior to Bitcoin doing anything, actually. When that happened, Bitcoin was in a 4-hour red candle. So you can see back then Dash broke out well before Bitcoin actually had its a breakout dash. We tracked we talked about is this a leading indicator for Bitcoin? And as we know, we see how the story plays out. Bitcoin did follow Dasch in that break out of that inverse head and shoulders. Bitcoin had a very similar inverse head and shoulders on the chart as well. It just took around, I think, 6 or 7 for our candle’s for bitcoin to actually do anything right. So Dasch broke out and then a little over a day, I would say a bitcoin broke out. So now this is what Dasch looks like in terms of the current move, right? I said 13 percent. This is around 13 percent right here for Dasch. And then real quick, if we look at bitcoin, you can see bitcoin not really doing anything. Currently, you see the dash breakout right around here on the Bitcoin charts. So very similar to what happened in mid-March when the dash broke out and Bitcoin was doing nothing. It’s happening again. This is Bitcoin doing nothing. And this is dash breaking out. So confluent with all of these things happening right now. Bitcoin is actually in a consolidation area with all these patterns happening as well with Bitcoin and Dash. Right. So right now on the screen is Dasch. And we have kind of two things going on in Whyte’s. You can see this descending triangle. And I want to say I have noted here. The descending triangle is looked at most of the time as kind of a Barasch setup, right? However, sixty-four percent of the time, if you’re entering a descending triangle in an uptrend, as it did here. Sixty-four percent of the time, a descending triangle actually turns out bullish. So in this case, you can see for Dash, this actually did turn out bullish and it did kind of have some continuation. Now, we know consolidation could happen. We can kind of come back down and visit these trend lines. That’s for another video. That’s for another talking points. Interestingly enough, they are kind of is an inverse head and shoulders that dash also kind of just broke out of. And pretty much hit its target right around eighty-two to eighty-four dollars. So. Taking all that into consideration, we still have Bitcoin, right? Here are the Bitcoin charts. Doing nothing. And now the question is, well, is Dasch definitely or is Bitcoin definitely going to follow in Daschle’s footsteps? That is you know, that remains to be seen this as we track it. This is one indicator. Everybody we look at all these different technical indicators, patterns, momentum, oscillators and dash is just one indicator. However, it’s been a pretty reliable one. Right. So in terms of bitcoin, if it followed dashes, you know, 13 percent move or so that it just had from where Bitcoin is now, 13 percent move would be around eighty-two hundred to eighty-three hundred dollars. Interestingly enough, with that breakouts range, we’re hitting our targets almost exactly out of this ascending triangle. Right. And you might have seen the video that we did. This was April 4th around five days ago talking about this ascending triangle. This is the video, a snapshot of it. And we were right at 62 percent of the apex of that triangle. We talked about. Sixty-two percent of the apex is usually that breakout area. And we know in these ascending triangles. We get a 63 percent breakout to the upside, where we get a breakout to the upside around 63 percent of the time and then we got the breakout. Mind you, it wasn’t exactly sixty-two percent to the apex. I think right here the breakout was probably closer to 70 percent, but we got the breakout nonetheless. And now we’re consolidating above. There is potential. I want to say, with everything I’m talking about in this video, there’s one hundred percent potential of bitcoin retraces to the upper trendline. Sixty-eight hundred dollars or so even with Dash doing what it’s done right. Bitcoin doesn’t have to follow Dasch and follow its footsteps. This is one technical indicator to watch. I’ve been watching Dasch closely. You can ask a buddy of mine even when it was doing nothing, I just kept texting him. You know, I’m watching Dash. I want to see. I want to see if it breaks out because that could be a really good sign for Bitcoin. And I want to just bring up to you. You know, Bitcoin follows Dash. Yes. It follows like coins, sometimes like coins not breaking out right now. There are other old coins that bitcoin follows. I know there are some old coins that have broken out recently. I think Link is one of them. Zie cash. These are also all technical indicators. I just find reliability within Dash and I like the fact that I own Dasch as well. It’s I mean, it’s a big holding of mine in terms of all coins right now. So I’ve really wanted to do that. Just analysis based on Dasch charts because Bitcoin is following in its footsteps potentially. And I think it’s something to keep an eye on. A little off the subject. Wanted to bring up real quick. I came across this tweet. Why? Gold is beating bitcoin. And then, you know, there’s a newsletter that this guy Joe puts out. He argues that the crisis is really showing why the original safe haven is still king, talking about gold. And, you know, no harm. It’s cool. People like gold. People don’t like Bitcoin. That’s fine. But I do want to I just want to point out, because I do see a lot of arguments for gold versus bitcoin. Lately, all over the place, I think because of the fact that there’s a pandemic, because people are looking at gold more, it seems in the last three hundred sixty-five days or so, bitcoin is up 41 percent in the last three hundred sixty-five days or so. Gold is up 30 percent. So Bitcoin is up 41 percent. Gold is up 30 per cent. Now that’s just in the last 365 days. You go back and you look at in the last years and you start comparing what’s up more. It’s a whole nother ballgame, so I just want to point out to everybody and I want to say just right to you. Bitcoin just survived this crazy pandemic that shook the world in the last couple of months. You know, everybody knows that that drop kind of in mid-March or whenever it was hit, all markets, traditional markets, gold, bitcoin, cryptos, whatever. And Bitcoin just completely stood on its own doing its thing. And still in the last three hundred sixty-five days is outperforming gold. So talk about a safe haven. Look, in the last year alone, what has performed as a better safe haven for your investment there? This isn’t my opinion. This is strictly the data telling you that would be bitcoin. Bitcoin has outperformed gold in the last three hundred sixty-five days, and that is with a pandemic happening right before our eyes. So just please remember that one of them pointed out those are my thoughts. That’s my technical analysis. Wanted to do one right now. Appreciate you coming by. See you in the chats. It’s a little weird being on Twitter, Periscope, doing a live stream, but it’s cool. I appreciate you all kind of being in there in the chats. If you’re on YouTube, hit that subscribe button. I appreciate it. Hit the like button on the way out. Let me know your thoughts. What technical indicators are you watching? What altcoins are you watching? And have they moved recently? We’ll check it out. We will see what happens. Will Bitcoin follow these dash gains for 10 per cent plus to the upside? Time will tell. We track it. Have an awesome night. I’ll see you next video. And God bless.


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