Hello and welcome back to our Coin Buzz. It’s me, Jimbo, backfrom on the market update. In today’s video, we’re going to recap our Bitcoin technical analysis. We’re gonna dive into the theoryand 3-Day chart where there’s a big pan brewing. We will also round up oil and the Dow Jones index where we’ve seen significant moves on those charts worth keeping on. And before we conclude today’s video, I want to go over to lower cap projects, technical analysis, one being ultra us and the other being V are a veracity. If you’re interested in that, make sure you stick around to the end of the video to check it out. If you like the contact we make here on O’Quinn pose, please slap a log on the video that helps us get the content to more people. And if you want a chance to win that crypto tag Zu Stotsky at our weekly giveaway or you need to do is be subscribe to the channel if you know already and leave a comment down below can be whatever you want and you’ll be entered into the draw and we’re going to announce the winner next Saturday, as we normally do we to start right here on the weekly chart. And as you can see, we’re currently above that six thousand five hundred support resistance area. We have failed to break the 7300 resistance that we’ve been focusing on as well. Now seeing our weekly exponential moving average from crossing to the bare side, but clearly still trading underneath us. So it’s a downtrend on the weekly chart. Be nice to see this weekly close above the 6500. So we’ve got about 24 to 30 odd hours left on this scandal. So be interesting to see where that closes. If we stay above 6500, then I wouldn’t be surprised to see us retest seven thousand three hundred. Whether or not we break down or up. But I do think from a personal bias perspective, we’re still more likely to break down, even though we have seen a bit of bullish price action on this week. Kind of note that the volume continues to decline here. And I’m just gonna show you an alternative view of the weekly as well with this potential falling wedge pattern that we’ve got playing out. And as you can see, we’ve got our support box in place on this chart as well. Now, what I want to focus on here is we’re very close. You can see that we’re at that resistance. We’ve been rejected once again. And this could play a couple of ways. If we are to see this play out as a falling wage, I’d anticipate that the next candle would break sharply to the downside and break this resistance of 5800. And if not, before coming back up and in testing, and then we’re going to fall back down into this range. Now, that doesn’t mean that we won’t see it break out from there, perhaps test this is support for moving up, but that’s only if this is validated as a falling wage, which it very well could be. If if we see this close where it is at the moment and see almost instant rejection on the next weekly candle. So something to bear in mind, could you seeing a falling wedge pattern playing out here? And it’s important to remember that Phoolan which is a bullish pattern, but that doesn’t mean that price can’t trade lower before we break out. So, you know, like I said, we see rejection. We come down. It’s test these areas again and then we break out. And of course, we’ve got this really critical Long-Term and Resistance line up here. Once we break this lock, once we break this line, it’s a long way away. We’re all the way revan our lowest point. And we’ve got drawn out minutes at 9000 current trading price. It’s current trading time. It’s sat at about 10 hour, ten and a half thousand. So it’s a long way away. But that line is all the all important once we break that bull mode, engage. As I’ve said before, so here on the data, you can see we’re currently battling inside the midst of our exponential moving average ribbon. We’ve gone on and tested the 50 a couple of times in the last Aley cameras and been rejected each time. Also seen those daily closes with lower highs each time. That’s very often a signal that we’re going to see a reversal. But it was still above the 20 exponential moving average. And as you can see, the last time we broke it, that source and get some downside action and it could very possibly happen again if we are to see it break that 20 exponential moving average. Expect some further downside. And if we did break that on the daily chart, we can put this long term support line into place that we’ve respected on several occasions. And this is going to be really important to keep an eye on this pattern here. We’ve obviously got that six thousand five hundred support and this support line on the daily chart now giving us this crossover convergence. And I mentioned these before. I often find that and this is just from my own personal experience where you have a convergence of supports. If they break, the more violently they break. So people are some people are watching six thousand five hundred potentially. Some people are watching this long term trend line of this trend line from that started back on the 13th of March. So if they both break at the same time, you can expect to see significant downside. And if we do break that, then I’d anticipate at least a test of this 4900 term red support line, if not the box below, just to see if there’s anything more bullish we can see in any of our indicators here. We’ve got the max-d, the RSI and the stochastic RSI, stochastic RSI really up in the heavens at the moment in the Hizbul area, looking likely to cross back down. We’ve got that pincer motion occurring right now, which is usually the first. Break back down again. That’s not always the case, it can’t be rejected and pump higher, but when it’s sort of hovering in these dangerous levels, there’s a lot more space for the momentum to move to the downside. max-d slowly creeping up with no significant marks here in the green. You know, we’re actually seeing lower green bars here and which is again a suggestion that dementedly momentum is slowing up. RSI looks like it’s still failing to break. The 50 level, which is obviously quite important, we are facing resistance there right now. And if we break, it’s going to actually allow us to have a really strong break out and show you why and because we’ve got these peaks here and we’ve actually gone on to surpass these. Which is a good sign, but it’s now seeing rejection at the 50. So actually on the RSI, if we can see this break up past that 50 level quickly, actually I anticipate that to get followed with quite a good bit of volume and but we’ll have to wait and see. It’s still the volume on this move, which is making me less confident that we’re likely to continue to move up. We’re still seeing our volume decreasing. No real bullish signs that the breakout is happening just yet. Of course, as I keep stating that once we break this level, it’s 7300. If we can get a daily close above that, which will coincide with this 50 exponential moving average. They’ll assess above the exponential moving average ribbon on the daily and pass this critical resistance. And that’s going to be for me, the trigger that says us break this long term resistance line and get back into this previous trading range. And I’ll be really excited to see if that happens. And you guys will be the first to know if it does. Theoryand Bitcoin 3-Day pairing on politics here. I’ve got two extremely bullish potential child pandher playing out for you guys to see. And as you can see, we’re looking at theoryand bitcoin pairing and we’ve got this large descending triangle pattern playing out now in traditional market to lower timeframes. Ascending triangles are often seen as a bearish indicator because the price is being squeezed lower and lower. You can see people are taking profits at lower points each time along the descending triangle pattern and that’s what gives us this shape. And in cryptocurrencies and generally from our own trading purposes, I dont tend to look at them as immediately bearish patterns. I look at them as a totem in range, which can brakey the way because they very often do. And the reason I want to highlight this chart to you today is very bullish nature of what I’m seeing develop here. And remember, this is the 3-Day chart and we’ve seen this double bottom and pattern play out here towards a support line of the descending triangle. And what I want to really focus on is once we formed this lower high here, this is what our volume really started to pick up. People noticed that we’d had this sort of double bottom pattern and the volume really picked up. We broke out of the long term resistance line and we virtually respected it all the way down through this and sell off with our volume decreasing all the way down. As you can see, we’re starting to look grow very green and bullish on the three day chart. Again, this could be a very, very good opportunity to get into a theory and before a large move against bitcoin. Again, I’m not a financial advisor. Nrama Given your financial advice, I’m just a dude on YouTube calling the shots as I see them, but this looks like a really bullish pattern and it could be one of the cheapest entries for a theory. And if this does mark a really good bull, run for it. If we have broken this pattern and we’re gonna start seeing more bullish price action, this could be a fantastic entry at 0.2. One so worth keeping. I noticed that our expert exponential moving average Rivard here on the three day hasn’t been positive since 2008 in July and we crossed back over in February and we look like we’re on our way to respecting this cross because as our price action is now starting to pick back up again, it’s starting to look very likely that we’ll see L20 bounce before crossing back below the 50. And that’s going to signal another bullish move if we do see that happen. So keep your eyes peeled on this three chart, of course, as normal. Nothing’s guaranteed, but it does look very bullish. If you’re an avid viewer of all combos, you would have known that I was looking for a trade set up on oil and boy, did we get the mother of all trades at. I want to go into to more detail on this chart and show you exactly what played out. Now, first of all, zoom out to the monthly so you can see where our lines come from. This was our support and resistance areas formed by this trend from all the way back in 2008. So very long term trend. And I was saying, look, we’ve broken below this support line will go down now into the lower timeframes and see how it looks there. So we broke this key suppor back a few days ago and I was bringing it to your attention last week that we were hovering around in this zone and look at the balance. Now, if I go down to the four hour chart, I’m going to show you is a perfect added mini reversal bottom below the support line. So we saw it supports a couple of times, a couple of nice bounces became below. And here was the opportunity to trade. We saw one sharp Adam bottom and then one more smooth and rounded eav bottom before we broke the support line once again. And even if you’d have just entered off the break of the support line, which we’ve had highlighted for some time now, you could have taken already thirty two point eight percent and thirty two point eight percent trading. Oil is a serious, serious trade. This was absolutely clear. As day played out, you can now see our exponential moving average ribbon on the four hours cross back to the positive entry was all the way down here. Once we set this new ones, we set this rounded bottom message, the entry down here, fantastic trade set up. We’ll keep an eye out for. Adam and Eve reversals right here on our old coin Buzz. But what a great position for oil. We’re now seeing it recover. Question is how high will it go? Huge gap in the 4 hour chart. Here we are facing significant resistance at the moment. This high volume area. So I wouldn’t be surprised to see if we do see a peel peel back. But it’s a crazy market with oil and with the geopolitical situation changing daily, this could certainly keep pumping to the upside. We’re going to quickly recap the DGI before we move back over to the crypto markets, because I’ve been keeping an eye on this for you guys also. And again, it’s it’s imperative to keep our eye on these other financial markets because it’s giving us an idea of how the recovery’s going from the current crisis. Can you say on the 4 hour chart still being rejected from the bottom of the exponential moving average ribbon? So tomorrow’s open for Monday on the Dow Jones can be really interesting. Do we see it spike back into this exponential moving ribbon ban or are we going to come back down and support and test this previous SUPPOR area? And per again, from a personal perspective, I believe there’s still more downside to come. You can see on the daily it’s a clear rejection of the exponential moving average and we’ve come back down at Monday’s open is actually imperative looking at this right now because we could break this 21000 suppor once again. And last time we did that, really put us down into the dark ages in terms of price action for serious, serious lows. And I would suggest that as we’ve been rejected and now we’re coming down again, that we may even set a new low. But let’s wait and see there. Now, Monday’s close is absolute. Monday’s open. Sorry, is absolutely imperative for this. Next, I want to go and take a look at two low cap cryptocurrencies. Now, I want to point out the technical analysis isn’t as strong for the low cap projects because the liquidity isn’t the same. So the charts aren’t always as predictive as they are in more fluid and liquid markets. However, that doesn’t mean that we can’t have a look at them. You just have to bear in mind that we take it with an extra pinch of salt, but we can use them. And I’m going to show you one of them just how wild these chophouse play out, even on a low market cap. So let’s get into that. So I’ve jumped over to charged or coin traded up pro to do the technical analysis of one of my favorite projects is ultra ticker. Is your s? No, I’m not here to shill projects. So all I can do is advise you to go and check their website out. Mountain coin, market cap on whatever you’ve got to do, but go and do your own research on this project. They’re working within the blockchain gaming and NFTE areas and they are very exciting. And the reason I want to highlight this chart to you and as I said, we have to take the low market cap technical analysis with extra pinch of salt, but that doesn’t mean that it can’t apply. And there’s a few things that I really want to focus on. Clearly we are in and at it’s at least a tightening range. You could definitely wouldn’t be out of place by describing this as a symmetrical train, which is a continuation pattern as we broke into the symmetrical triangle on the upside, that would suggest that we’re going to break it to the upside and continue our push on upwards. Now, the other things I want to highlight to you here are to do with accelerations of and buying pressure. OK, so we’ve got this long term trend line here, the long white line that you can see. And what I want to highlight is this here. So what you can see is we tested the support John McCain, but we came up and we broke back down. What happened was we didn’t get all the way down to the trend line. Right. So the buying pressure came in before we even came back to the long term support. And that began and began a very, very strong rally up to the upside. Okay. Here again, we’ve broken down and we’ve come and tested our support line and we’ve seen another push up come back down. But again, we haven’t made it all the way back down to the long term trend line. You can see this tweezer candlestick formation down here. What this suggests to us is that there’s extremely large buying pressure down here. And for that to happen above this long term support line is a really bullish symbol. And you can see once again, we’re breaking to the upside week, looking to go and test our long term resistance line up here. And if we break through that, expect this thing to really, Frode, some fireworks. The other thing that I really want to draw your attention to is this huge candle of volume right here. Now, as I said, it’s a lower market cap coin. It’s daily use. You average trading volume is somewhere between 50 or $100000. But here, just after we saw our tweezer reversal, we had a bit of a price backdrop. And when it did come down here, someone or some people put a huge amount of buying pressure. And at this point, they saw the strength of the project. They saw the strength of the technicals and they made a big move. This was almost two and a half million dollars worth of trading volume on one day. And as I said, considerably higher than the average. It would suggest that there’s some serious buying pressure going on here. And don’t expect. Don’t be surprised if things really, really start to fly. Once we break this long term resistance line, we’ve got to keep an eye on a hair on Aucoin post. If you are an ultra US fan, keep tuning in because I’m going to continue to review this chart as and when we test this resistance or previous support areas. I think that we may even see this. On this on this particular pumpin, I’m going off the back of this strong volume here for that. Next up, I want to have a look at V R A. The project name is Veracity. You may have some fans of the out there. I want to show you something really strong in the technicals for today’s technical analysis. Here we are on the veracity bitcoin show on hit BTC. This particular chart can be found on trading view, but our normal indicators on and what I want to really focus to is these two huge tightening range formations that we’ve got here. And this is the daily chart we’re looking at. This was played out between December 2019 all the way through to the twenty sixth of January. And where you can see here is we had this tightening range and we broke out of it. What happened was we continue to trade along our support line for quite some time. But when we did finally bounce and we. By not breaking the support, we didn’t invalidate this triangle. And so what happened was we finally sprung off the suppor and then we saw this massive push up to the exponential moving, average driven. We saw some resistance bounce within it and then broke up to form a second triangle formation that we can see. And once again, we’re just breaking out of this resistance line and going on to testing this exponential moving average ribbon. Now, this could be the beginning of a really large move, in my personal opinion, over the long timeframes. And if we put this resistance line in here, I would personally be looking if we were to break through this exponential moving average ribbon on the daily, put my targets up here on this long term trend line, which is a long, long way away. So let’s say we trade off the bottom of the off the break of the 50 exponential moving average. There’s still, you know, almost 80 percent movement now. So certainly worth keep an eye on VRA, certainly worth keeping an eye on us. Both look like they could see big moves in the short term future. That is going to conclude today’s video. I hope you enjoyed the content today. If you have make should slap a logo on the video, it helps us get the content to as many people as possible. If you want a chance to win the crypto tags, who Stotsky or you need to do is be subscribe to the channel and leave a comment down below. Maybe let me know what your favorite project is. That’s all we need to do. I’ll be back later on in the week for another market update. Until then, guys, take care. Bye.