Tyler S
VIDEO TRANSCRIPT
You officially ruined my life. Let’s go. Bitcoin had a small break up but was stolen right in the middle of what the breakout target would be. We’ll show exactly why we’re stalling here and why this will not be for much longer. We don’t anticipate staying at this level for more than the next few hours. We will definitely be seeing a move out of this zone very, very soon. And as well, the Bitcoin stuck the flow creator warns that Bitcoin could get nasty if his bullish predictions actually come true. In the most recent incarnation of the stock to flow the S to F X actually increased the expectations of the price over the next two years by five X. And because of this break overnight here, guys, this is huge. C.M.A futures hit a 10 month high. We’ll take you back and show you what that means with having so close. Guys, things are just ramping on up. Let’s get into the debt. Welcome back to a new exciting episode of Bitcoin. We’re getting a small break out in the charts, and that’s we’re going to be primarily talking about we got a few hours ago, but we’re hitting some major resistance. We’re showing in the charts exactly why that’s happening because it’s much bigger than this little pattern that we’re seeing on the charts. And as well, there’s some very interesting stuff going on, guys. Things are just getting very eerie in the space lately. So we’ll have to delve into that in as well. Guys, this will be the final video to enter for this ledger. All you have to do is leave a smash below. Leave us comments. Hit the ding. Hit the subscribe. Turn on your mind and open your heart. And let’s get into this. So, guys, let’s see. Are we getting an increase in volume here? Not necessarily on the weekly. We are still witnessing this Macnee Cross. How high could this go? And will a potential dump in or after the having have any effect on this? This is you solicited a look here first. This is what been talking about the past three days, this potential bullish penalty you see here very clearly on the four-hour chart. Now, the breakout target is actually about four or five hundred dollars higher than where it currently was or currently is. So we didn’t quite hit it, but we ran to a lot of resistance if you notice here first. This was our high back on April 30th. About a week ago, right here, right around 94, 33. So nine thousand four hundred thirty-three dollars. And then are high so far. By the time this video gets upload, it may be different, but the high so far is about 50 dollars less than that, nine thousand three hundred fifty. So so far on this for our chart. Again, not too much significance just on the 4:00 hour as this movie is playing out, but is a lower high right here. Now, if we take a zoom back, we can see exactly why we’re finding so much resistance here. So for one, the 90, 200 dollar level is huge. You see this orange line that we’ve had drawn on here. This is such a big area. But one thing you do knows is we did break out of this golden pocket range, the six one eight-point six-five, which is pretty much from like 80, 900 or about 9000, all the way to about 80, 500. So about a 500 dollar range in here whereas you can see, if we zoom in one, two, three, four, five, six, seven, we trade in here an entire week within this very tight range. And now we’re getting a small break above. So it’s really important to watch these charts over the next 24 hours because I think we’ll get an answer. We are not going to be trading right here where we are right now at the 90 to eighty dollar level for very long. OK. We don’t think that’s going to hold up very long as resistance it. We’re gonna make a move very soon. Now, one thing we do sometimes get on these swings, especially out of these triangle type patterns, bullish pendent, symmetrical triangle type Prudence’s. One thing I’ve noticed a lot is that if we do get a breakout and we really fail, things can really swing to the opposite side. So because right now we’re testing this. What I’ve seen before and this happens on the downside as well. So we have this pattern playing out and we come down here, we test it and we find support here, for example. I’ve seen it many times where just absolutely blows up and then pretty much switches to the bullish scenario. So if we don’t get this breakout very soon, if we can’t confirm this, then I could easily see a similar thing happening. But reverse where we breakout here, coming back down and actually plummeting through this if we can’t get the amount to break out of it now. OK. So usually these things break out typically around this area for the size of this pendant here. So we’re a little early, but it’s really just a game of probabilities anyway. But realistically, we need to set a higher, higher high here and we need to break some even bigger resistance here to show you on this chart because if we don’t, we could see a sharp rejection. So we really want to watch out for that. Again, if we don’t go any higher than this than I could see us actually coming down and breaking this very important six-year legacy structure. Langa. So that’s really important to watch out for as well. You can see this green line. I mean, this thing just lines up horizontally with so many things on the chart from the inverse head and shoulders breakout resistance and support here from the initial resistance we had back at the very end of October 2019, beginning of November 2019. And then as well, this descending triangle that we had back in the summer of 2019 that broke out and started this pretty much year-long descending channel that we’ve been in some way, shape or form. We’ve been within this downwards channel for the past year. And then basically zoom out even more. We’ve been within this even larger, potentially symmetrical triangle. We have to touch on the bottom. We’d like for touches on the top now. And this goes back about three years, about two and a half years, really. So that’s really key. But again, this is just a really important level. And guys, we don’t have much more. Room to the upside in terms of resistance. We’re basically hovering. We’re testing basically the very top of the entire last three-year resistance up here from where we are at the time, me recording this to the very top of where we’d break out of this entire through your pattern is less than a thousand dollars. This is pretty much our window right here. So without that, if we break above that, things get crazy. But again, you see why we’re finding so much resistance along the way. Because there I mean, this is if there’s going to be resistance is exactly where it is. We can pull out the V PVR and we can show you. Let’s actually zoom back to the past like three years. Let’s do this. And you can see all the resistance is concentrated right in here. We are, as of right now, completely above the very largest. OK. In terms of the volume, we’re above the very largest, just slightly. You can see the green here. And this is where the largest in the circle. So again, still slightly above that. As you see, we get higher and higher. There’s less and less because there’s less trading volume up there. So that’s really important to note as well. Guys, I got a lot of comments about did you buy yesterday? And because I am a fan, I did want to cover yours. Real briefly, did you buy just an absolutely exploding? I’m not going to really go into too much here because I have not necessarily been watching these charts very closely. I think a lot of people do. Did you, by chance, a lot better. And I’ll be honest, I don’t take a look at these charts too often for the Deji bite. But guys, look at this. There’s been absolutely huge. So, guys, let me know what you think. If you guys are invested in. Did you buy it? And I just want to bring it to your attention because a lot of people were asking in the comments yesterday. Wow. And before we get into this extremely important news, guys, I do want to point out, if you’re interested in trading, make sure to check out the links pinned to the top of the comments. Interested in learning, charting. There’s T4 where you can buy knowledge and lines to make some really educational data. Guys, I never recommend leverage. Very important variables of the bitcoin stock to flow. The creator will go dark. If Bitcoin hits six figures so recently, Plan B revamped the stock to flow here. He said that the world could get nasty if Bitcoin hits his actual predictions of almost 300000 and higher because governments might be fighting for it, right? He said he’d go dark. He predicts or he forecasts a two hundred eighty thousand dollar Bitcoin to USD pairing within the next three and a half years. OK, so the latest stock to flow incarnation as two ethics, it’s called. It was released last week. It increased its average by Bitcoin price expectations by five times compared to the previous version. He says here, plan B, it will be nasty. It will be maybe war. People have Bitcoin. Some people won’t be countries of Bitcoin and some countries won’t have Bitcoin. And with the U.S. dollar potentially losing reserve status, it will be geopolitical. It will be the military day. So the crisis continues. The lineup here, because a lot of people are actually criticizing his stock to flow here from Vitelli Beta in the crater theorem and more people are criticizing it. However, it states here, according to Quinn Telegraph article, he’s argued that those attempting to discredit the model have failed to come up with evidence or an alternative theory, which is demonstrably accurate, meaning he’s saying that people are not coming up with a criticism that is actually valid and actually refutes the claim. And as well as Bitcoin price breaches, nine-point two last night, CMC Futures had a 10 month high here in Quoin Desk. You can see the momentum building, open interest or the number of future contracts standing on Sammy Rose by three hundred fifty-one million dollars on Tuesday, which is the highest level since July of 2019, almost an entire year ago. Remember, back July 10th of 2019 was right around Bitcoin, went from a three thousand dollar range to fourteen thousand within that very short time period of about a month and a half. It spiked up that much open interest, had a bottom of 107 million on March 12th, just two weeks ago because of what happened with the market crash. And what this means is that the up uptick in semi-open interest is indicative of professional traders returning to the Bitcoin market. CMU open interest is widely considered to be a proxy for institution activity now as well. I do want to point out, some observers argue the U.S. regulated institutions are required to trade on Samie, while the rest may be using things like bit max, which, you know, a little different there. But put simply, the uptick in C.M.A open interest does not represent institutional activity necessarily more so. The exchange accounts for a small portion of the global futures. Open interest crypto is broken out of a six-day long narrowing price range, signalling a continuation of the price rally from lows near sixty-seven hundred observed on 420. This move strengthens the case for a rise of 10000 ahead of Tuesdays. Mining reward. Having bitcoins big having coming up so goes absolutely crazy. Make sure to leave a comment for the leisure. We’ll be giving way in the next video. And guys, let’s see what happens.
