Lots of guys are welcome back to another video in today’s video. We’re going to be talking about a huge potential breakout that we could be having for the Bitcoin price. Yes, we could be breaking out of this symmetrical triangle here to the upside, targeting upwards of $9000. We’re going to be taking a look at that in today’s video. We are also going to be taking a look at bitcoin red readying for 2017 like the leap from a Bloomberg report. We’re going to be taking a look at some G+ note data about how Bitcoin holds a net position. Change has been growing daily since March and is now hitting yearly highs. What that means for the bitcoin price. And we’re going to round off today’s video by taking a look at 63 percent of the Ripple XP community has gone for good. I’m going to be taking a look at why and a little bit into the more details on that side. So a really great video coming up today, guys. Definitely sit back, relax and get ready for today’s video. All right, guys, welcome back to another video. Thank you for joining me again. If you haven’t already. Let’s get that one like a target. And if you do, join my content, subscribe and take that notification. Bell As always, comment down below to be entered to win that tree’s storage device right here. Literally common anything and you can be entered to that giveaway. So let’s get on with today’s video. Bitcoin right now is in this very interesting symmetrical triangle. We have come up an almost tested this six-point or the 7.2 level again right here. Unfortunately, we weren’t able to break above it. However, we did test the upper level of this triangle. And we’ve had one touch now to touch three touches on the upside and on the lower side. We’ve also had one, two, three touches like so. So what could this potentially mean for Bitcoin and the Bitcoin price and the direction of bitcoin from this move? Well, normally, this would actually break to the upside. And I’m expecting a break to the upside. However, as we all know, this is a cryptocurrency and this can always change. You can do the technical analysis and you can see which way it could potentially break. However, that might not be the case personally. I think there may be a break to the upside. I think there’s a larger chance, maybe like a 60 percent break to the upside and a 40 percent chance to break to the downside. However, guys, I am going to be giving you my price targets for the bitcoin price if we actually go on to the daily chart and get right into it. And we can see that I have laid out a couple of price targets up here. So the first price target I want to see for bitcoin if we do in fact break this level. First of all, I want to break this level here at about seven point two K break close above that or just break it in full. And that will confirm a breakout from this triangle. Then I want to see is break this level here 7.4 K once we’ve broken seven point four K. No doubt we will shoot up to seven point nine K if we do in fact have a no volume supporting it. If we don’t have enough volume guys, when we do break out of here it could be a small break and then a dump. Unfortunately, if the volumes there though we could see a nice pump up to around eight point four K is my target. The lower level limit of the target with 9 K on the horizons in the next few weeks, that will be really, really good. So the downside target I have is around about five thousand eight hundred dollars. First of all, if we do break to the downside, we will come to this sixty-six hundred dollar level even if we bounce back up. That would be great. But if we don’t, it’s not the end of the world because we will come down to around fifty-nine to fifty-eight hundred dollars. That’s my downside target. If we do not in fact break below how I’m gonna be actually trading this, guys. And of course, do your own research before you trade. This is just how I’m going to be trading it. I’m going to be trying to take a break out trade on this triangle here. So I will, in fact, set my buy order just about around about here, just a little bit above. And then if it does break out, I’ll ride the profit all the way up. And if it doesn’t, if we do see a break out of this triangle and then we come up and then we come back down. Well, don’t worry, because I’ll have a stop loss a very, very, very tightly to protect my capital. Also, if we do see a break to the downside, I’ll have a buy order set here. And if we do break down, I’ll have a take profit on 66 and another take profit all the way down here. Again, that’s just personally what I’m trying to do. I think there will be a huge breakout coming literally any probably in the next few hours or day, at least usually guys, as we saw before. And my last breakout video, we don’t wait until the very end of the year to break out. We usually break out way before. So that is how I’m going to be trading the breakout, either breakout to the upside or break out to the downside. I will have a trade to cover it. I’m going to be trading this on a fee, Max, and I’m actually currently already in a trade. It’s around five hundred and fifty dollars in profit, which is kind of nice. I entered down here at sixty-eight hundred. I was nearly seven hundred dollars profit when we touched that seven-point two K range earlier. However, the profit has since declined a little bit. The mix right now actually has the best offer across the board for all of the exchanges. If you deposit only 0.2 bitcoin into your trading account on Phoenix using my down below, you’ll actually get $112 bonus, which is crazy because to get that kind of bonus on some other exchange, you have to deposit of the one bitcoin. So the links with Felix will be down below. And if you were interested in trading, I personally like it the best. Multiple reasons. It’s got a great layout, easy to use, a good deposit bonus and it has the ability to have some accounts as well if you want to trade different leverage on a different account. So let’s move on to the first article of the day, guys. Bitcoin is readying for 2017. Like Leap. This is a report from Bloomberg. A fresh Bloomberg report argues that Bitcoin is readying for a mental bull run similar to 2017. Crypto rally. This comes as Bitcoin is maturing as an asset and the crush of the traditional financial markets opens doors for adoption. I’ve said this many, many times. Guy guys. What’s going on right now is a great use case for bitcoin. And hopefully, Bitcoin can be showing itself. Let me know what you think down below in the comments after this whole financial crisis is over, do you think Bitcoin will come out on top of it will come out worse than we started? Also, by leaving a comment down below, you’ll be entered to win that trade at the storage device, which is great. So first and foremost, the reporting notes that Bitcoin was born out of the last financial crisis, the Great Recession. As such, it could potentially thrive during these uncertain economic times. Bitcoin is down less than a quarter as much as the S&P 500 in 2020, despite being almost five times as risky from a volatility standpoint. So it really shows that Bitcoin is holding its value. Colvard 19 distinguishes Bitcoin from the rest of the cryptos. The macroeconomic effects of the coronavirus accelerate Bitcoin’s process of gaining value relative to other cryptos. That’s totally true. I do believe Bitcoin is number one. I will always be the number one crypto. Bitcoin is inching closer to becoming digital gold ie immune to negative market shock. Bloomberg chart demonstrates that the bitcoin is reaching its closest 52-week correlation to gold since 2010. Moreover, it states that the introduction of bitcoin futures was important in taming the raging bitcoin market. So I definitely wanted to let you. I definitely want to know your comments down below. Guys, do you think we are coming up to a new bull run like 2017? Of course, it will be absolutely excellent if we could have that. Our guys moving on to the next article. Now we’re going to take a look at Glass Node. If you don’t know glass note on Twitter, actually post some really, really cool on-chain analysis and insights. And I really recommend checking them out as they are actually. Excellent. So we can see here. Bitcoin holder net position change has been growing daily since the end of March and is now hitting yearly highs. We can see here. It’s absolutely crazy hitting yearly highs higher than a January 20 when we did have that nice little pump. Long term investors are increasing their positions and they are accumulating more bitcoin each day. This is a very, very bullish for bitcoin, guys. Of course, we know the whole is around 20 days away now. And it’s great to see that people and investors are in fact, accumulating bitcoin ahead of this halving and is very, very good to see. Let me know down below in the comments. If you are trying to accumulate bitcoin before the whole thing, after the hoving or what your plan is for that, I’d be very interested to know. Finally, moving onto the last article of the day, guys. Sixty-three percent of the exotic exile community has gone for good. This is a little bit of a clickbaity article because a lot of the communities have disappeared for all the coins as well, like Litecoin, for example, during the last two years. REPL has lost over 63 percent of its active community, according to political data collected from telegram chat groups by the pseudo-anonymous crypto trader. Between June 2018 and April 2020, many crypto-focused telegrams have seen a severe drop in the number of its members, leading to a massive community. Capitulation, capitulation, sorry and ripples. an example was the worst-performing crypto asset in the top 25 coins by market capitalization within the first quarter of 2020. The price of XP is currently down 95 percent since its all-time high in January. Twenty eighteen and is actually a really nice chart here. I can show you guys and we can see on the left-hand side he’s got the telegram group and over here and the different columns you’ve got twenty eighteen, nineteen twenty and we got the member losses as well. We could see some of them are really, really high. And for example, Litecoin 67 percent member losses and we have REPL here, 63 percent see a coin, 62 percent Neoh. We have 55 percent Monaro 50 percent which is absolutely crazy to see that people are just going out of these telegram groups in the thousands. And if you see the comments down here, we have some really interesting and funny comments as well. So, guys, that’s pretty much it for today’s video. I really do think a big move is coming to crypto in the next few hours or if not days. As I said before, usually we don’t wait until the end of here. We do break out before it where that breakout may be. Well, I said 60 percent to the upside and 60 percent to the downside. Just to recap you on those targets that I personally have, I have around about fifty-eight hundred. If we do break to the downside and if we do break to the upside-down eighty-five hundred if we can break the six seventy-two hundred dollars and seventy-four hundred dollar level I’ll probably be traded placing my trade around just above. After we break out here, if we do break out with a very, very, very, very typist, start tight stop loss. So that’s pretty much it for today’s video guys. If you haven’t already. Make sure to check out. Thematics will be linked down below. You can actually get $112 for free by depositing only 0.2 bitcoin into your trading account using my link down below. Thanks for watching this video, guys. I’ll cut you in the next one.