What’s up, guys? Welcome back to another video. So in today’s video, of course, guys, we’re gonna be talking about the Bitcoin price and how it got rejected from $7200. Unfortunately, however, we do have some good news in today’s video and some bullish news as well. We’re going to be talking about how people are spending their stimulus check. Twelve hundred dollars on purchasing bitcoin. And I think there’s something quite nice about using pretty much free printed money, helicopter money to buy an appreciating asset like Bitcoin for a good future store of value. And I think that’s a really nice thing. Not only that, though, guys, but we are also going to be taking a look at the article which goes over that and how investors are withdrawing Bitcoin from exchanges and how that potentially indicates a shift to longer-term holding strategies for investors. So all that coming up in today’s video, as well as some Bitcoin price analysis. Sit back, relax, guys, and get ready for the video. Our guys welcome back to another video. Thank you for joining me again for another daily video. Thank you very much, guys. We hit 1000 likes pretty much on the last video. If we can do that again, that will be greatly appreciated. If you haven’t already subscribed and you are watching my videos, hit the subscribe button down below. Until that notification bell, she gets reminded when I post my next updates. As always, guys. Don’t forget to drop your comments down below. You can say literally anything and get entered into the giveaway to in the trees at storage device or the equivalent in bitcoin. All right, guys. So let’s go ahead and take a look at the bitcoin price. We can see yesterday we actually had a nice pop-up and we heavily got rejected at around this seven thousand two hundred dollar level. In yesterday’s video, guys, I did warn you to watch out for this 70 to 100 dollar level as it could potentially be a large level of resistance. We’ve seen it in the past here just a few days ago and we’ve just seen it again now. We did get rejected, unfortunately, at that 70 to 100 dollar level and we bounced back. We didn’t quite bounce back to that $7000 level yet. However, we could potentially be on our way down there if we cannot remain bullish in the market. I really hope that we can retest this here as retesting it multiple times, as we all know, makes that resistance level weaker. And I hope we can test it again and I hope we can break above it. We’ve tested this 78 level now many, many times. And I really want to get above this 7k level, stay above that which we are currently holding above and then break the 70 to hundred dollar level. If we go over to the daily chart and take a look. So now we’re on The Daily Show. We can see the bitcoin yesterday in this massive pump actually broke this downward level of resistance. We broke it right here. We can see at about six thousand eight hundred eighty dollars. We broke above it, well above it. And then we pretty much closed above it, which is really nice. And we are now on the next day. However, the next price I could see Bitcoin going to, of course, is testing over the seven K level or the 7.2 K level upwards levels. We could potentially see around $7400 as the next price target. I would be really happy if we came up here, tested this, tested again, maybe got rejected, obsessive again, broke through and then tested this level up here at about 70, 400. That would be really nice and really bullish to see. As of yesterday’s video, guys, I did say I would love to see is close above that seventy-two hundred dollars with confidence in order for me to remain bullish in the short term, seven thousand four hundred. If we close above that, that will be absolutely great. No, we won’t be off to the races just yet. However, that will be great as we are setting higher highs if we did close above that and the recent time and the halving coming up very, very soon, that will just be overall bullish news. If we do go ahead and take a look at the volume and some moving averages, pop those up on the screen. We can see the volume is still trending downwards. However, we did have this big spike in volume, which over the past few videos I’ve been saying we needed to continue to be bullish. However, I’m very interested to see where the volume will follow up on today’s candlestick. So keep an eye on that. Not only that, guys, but we are also potentially going to be having a cross on the 50 days on the 20 days moving average. And we can see here that we broke nicely above that 50-day moving average, which is causing us a lot of hassle. If I would just remove this. Here we can see one, two, three, got rejected, came up, tested it got rejected again. We fell below it. We tested the 20-day. We got rejected below it. We tested again and we got rejected. Then we bounce back up and had a crazy, crazy price action over the last few days, around about an 11 percent bounce, which is great. And now we are above the 50-day moving average. We could potentially be coming back down to testing, which would be around the 7 K. mark. That would pretty much fit in with where I think the bitcoin price may go and buy really hope we can test above or remain above this 50 day moving average guys and go onwards and upwards and test that 200 days moving average guy. So if you did want to trade some of these price levels and you were interested in trading with leverage and you are a more experienced trader, I really recommend fee mix at the moment. I’ve been thoroughly enjoying trading with these guys and I’ll try and put up a screenshot or video right now of the trade I made recently. I actually traded this pump that we had. This recent breakout on bitcoin made about $600 profit. The previous trade I closed a couple of days before that was about $100 profit eleven to twelve hundred dollar profit. So I’m really, really enjoying trading on feedback and it’s super easy having access to some accounts. We can just simply trade with one leverage on one or trade longer mourn and trade with different leverage or trade short on the other account. So the link for that will be down below and you actually get one hundred and twelve dollar bonus for depositing only 0.2 bitcoin by far and away from the best offer out there right now. The exchanges, if you want to get that bonus, claim it with the link down below. So guys, let’s take a look at the first article of the day. Bitcoin investors are rushing to stacks up. That 12 hundred dollar stimulus check after weeks and weeks of promises the past few days have seen millions of tax taxpaying Americans receive that twelve hundred dollar tax-free checks from the U.S. government due to the fact that over 22 million Americans have lost their job over the past month due to the outbreak. Much of this money went on food, rent, mortgage payments, medicine and other essentials, but some splurging their cash spent it on bitcoin. This is really nice. I imagine some people who maybe they don’t need a stimulus check right now, they’re going to put that money to work in maybe an investment or invest in themselves or something like that. And it’s nice to see the money coming back into Bitcoin, as crazy as this may sound. Bitcoin is eligible to receive that check, are actually putting into what they know best, which is stocking SATs. Brian Armstrong, the CEO of Coinbase, noted that his company processed exponentially more. Twelve hundred dollar purchases of cryptocurrency yesterday than it does normally with the percentage buys or deposits that are exactly twelve hundred dollars growing from an average of zero point zero eight percent to zero point three seventy-five percent. So a huge growth there. And we take a look at this chart. We can see this is normal. This chart is only for buyers of cryptocurrency meeting. Twelve hundred dollars requirement. Exactly. So we can see the chart here is normally 0.1 percent and it’s actually gone up nearly four times to zero point four percent, which is crazy and really nice to see that people are in fact, spending their money on Bitcoin. Not everyone, of course. This is very subjective, but it’s definitely a nice aspect to see, without a doubt. In a way, it’s fitting. Helicopter money, which is printed out of thin air by the government being spent on bitcoin is poetic. Let me know down below in the description. This will also enter you for that Tresa storage device. Have you received just embolus? Check if you’re not in the U.S. if you were to receive some sort of more government money or money from the government helicopter money, would you spend it on bitcoin? Would you spend on rent? What would you spend it on to help you out in this situation? I’d really like to know your comments down below. Moving on now to the final thing over on G+ note on Twitter. Investors are withdrawing bitcoin from exchanges, potentially indicating a shift to longer-term holding strategies. BTC balances have fallen nearly 10 percent from the highs seen in January. If you go over onto this chart here, we can see the highs on Bitcoin exchange balances at around two thousand four hundred bitcoin and it’s actually down 10 percent currently below 2200 bitcoin. So Bitcoin being withdrawn from exchanges could signify people are in fact moving into hardware wallets and for long term storage. Yes, this could also indicate that people are maybe selling it because they need money due to recent times. That could also be another fact. Why this is actually happening. But I think this is fairly bullish for Bitcoin and I really, really hope people are taking the money off the exchanges to be safe and B, to hold it for long term. That will be absolutely great if we are reducing the available current available supply of bitcoin. Surely that is good for the price. So that’s another really, really nice article. So, guys, that’s pretty much it for the bitcoin price. I did want to mention on the weekly chart one, two, three, four, five, we’re seeing five green candlesticks, which is actually really, really nice. The last time this happened was a long time ago, back in twenty nineteen, and then we pumped up to about 14k. So that’s really, really nice to see. Guys, if you were interested in trading with leverage, I recommend fee mix and it’s pretty much the only place where you can get over a hundred dollars worth of free bonuses for only 0.2 bitcoin deposit, which is crazy. So take advantage of this offer while you can. That link will be down below. Thanks. Watch this video, guys, and I’ll catch you in the next one.