Tyler S
VIDEO TRANSCRIPT
For the. Looks dead. Wow, in fact, for the third time, are we actually in a much bigger bullish pin and that does seem to be over and we have to touches at the bottom in three of the top. And I’ll tell you what I think is most likely. And guys, how does a bullish pendent work? What exactly would happen? We’ll take a look at that here. It’s pretty Euge as well. Bitcoin still finding that resistance right here in the golden pocket of the last year of the last 12 months. What does that mean if there is a breakout? What is the target for this entire thing? We’ll even get a breakout. Also, for the past year, we’ve been in this descending channel, basically, and now we’re still finding resistance and support at this crucial level here. Will that continue? And guys, we’re still watching this Mac D Cross on the weekly chart. Will Bitcoin rally into the having? Will there be a pump and dump? Will there be a dump? Will there not even be a pump? What’s going to happen? Do we already see the pump? Wow. And Bitcoin failed its nine K hurdle late last night. Guys made a huge green kennerley last night and we got rejected exactly where I was walking the chart right here. You can see that’s where we got our third touch. These are for our candles there. So we failed that hurdle. But data suggests that investors are extremely bullish and we’ll get in to some fundamental reasons why that’s going on. And as well, the Bitcoin hash rate hits an all time high just days before the having. We’ll show you this chart and what that means. So, guys, without any further ado, let’s do this. Going on. Everyone, welcome back to another exciting episode. Day three, you guys. My last two videos, in fact, were banned. In fact, we can take a look here. We have a lot to get into with these charts. But I want to start off here because this is very important here. Yesterday, not only myself, but crypto zombie all quoin daily, Dana Dash, Chieko Crypto M-m Crypto, Kevin Stinson. And that’s just the people that I noticed late last night that were all shadow band. If you subscribe to any of them, you might have seen that their feeds were completely removed from the subscription. You could not even search the title of their videos. They were completely gone. And actually, just about two hours ago, my video finally got on Shadow Band after about 24 hours. And you can see here on the 60 minute chart, the view started to croak, slowly creep back in because you guessed it, you can actually search the video now and it gets recommended. Bonas Shadow Band, you’ll never see it. So, guys, this is still going on. Most likely this video will be hit as well. Once YouTube realizes that it’s not spend whatever they unleashed, but it takes about 24 hours sometimes. So that’s like the sweet spot. If your video misses the first 24 hours, nobody really cares. Crypto changes by the minute. So the videos aren’t even relevant more than like a day or two anyway. So just want to let everyone know that because the guys that is happening, it’s not happening to everyone, but it’s happening to most people. But before you get everything, guys, let’s do this. We’re gonna be given this bad boy away real soon. So, guys, make sure to leave a comment. Make sure to smash the. Make sure to smash unsubscribes. Smash the lights. So as we’ve been talking, as you can see from the thumbnails, from the pastie videos, we’ve been talking about this potential bullish pendent, which it’s still respecting these lines we had when we had them drawn here, but they’re still respecting these lines. Now, the reason this is such a more potentially bullish one is because of this. So the bottom this is where Bitcoin is bounced twice on the bottom of this potential bullish pendent right here. And guys, what exactly is this line? What exactly is this line? Them sitting? This is a line again. You got some you guys might know this is Alanah goes back over six years. Okay, this is huge. You can keep scrolling back. I’m not going to. I mean. Yeah, let’s keep scrolling back. As you look at this, it’s still on this again. Go back to 2000, 14, 2015 in this line is still there. So that is what we’re finding support right now. And we’re consulting in this very tight range. We have three touches on the top here. K, one, two, three and two on this very important line here at the bottom. So that’s absolutely crazy that we’re still consulting and finding support on this line. I remember a week or two ago viewers were watching. We were saying if we break above this, we’ll be extremely bullish if we were able to hold this. And so far we have been so bullish pennants. If this is in fact what it is, they’re usually very bullish. So let’s actually take a look at this here real quick. This just goes into an example of a bullish pendent like this. We have a very, very sharp increase, very small area where you consolidate and then it continues higher after a gathers enough energy. In this example, the price makes a sharp vertical climb before taking a breather. I can hear the bulls stomping and revving up for another run. What’s interesting here is the size of the breakout is around the height of the mast or the size of the earlier move. So it’s about this area here. So let’s actually do that here. So basically, it would be from here to the mass, which is right about here. So we take that and let’s say a break out here. That would be roughly that posto about like 98 roughly if this broke out fairly soon. You can see on this pendent and final thing here, the pennants may be small in size, but they could be huge price moves. So don’t underestimate them. So it could even be bigger than that. But basically what they’re saying is these pendants could be pretty small. This is only been forming for about a week now, but it still could be a massive price move. Well, I don’t know. On the daily chart here, we have pull up on Beatrix. We have this Fibonacci pulled out because it’s still basically find support right in the middle of this golden pocket here. This is just such a key area. No surprise at all that we’re spending so much time in here. This actually started all the way back in June of 2019. So pretty much almost 360. Five days here. Definitely a macro trend here. But we’ve been facing it for a while and I don’t expect that this will be incredibly easy to break out of. So, again, if we’re gonna get a break, it most likely would have to form a pattern like this before we got it. So I think that’s good that we’re seeing that form. They’re still bouncing on this descending channel here, going all the way back to actually starting in about June of 2010 as well. Everything is kind of culminating in this very long yearly pattern, I think, because, again, guys, I mean, this is probably one of the best things to look at in terms of this. We’re still kind of in this descending pattern until we break this. We’re still kind of making lower highs. But as soon as we would break ten point five, then we’d be setting our first higher high. So watch out for that as well. On the weekly. We’re getting that cross. And now, guys, I really want to jump in to something important here. We’re gonna be talking about hash rate, which is huge. We’re also gonna be talking about this failing at the nine key hurdle, guys. So before we do, if you guys are interested. Make sure to check out the links in the comments pinned below. If you’re interested in learning more about t.A, definitely check out T4, where we combine knowledge and lines. OK. Absolutely huge. There’s also other links if you guys are interested in a ledger or if you’re interested in starting to get trading. Definitely check it out below. So let’s start off here. So we have observed a significant increase in new money entering the ecosystem. According to this Coin desk article here, several exchanges and retail platforms are reporting a surge in Bitcoin deposits, sign ups, credit card purchases since the low that took place on March 12th and 13th, around that three when we bounced back into that three thousand dollar range there. Matthew, did the co-founder of Stack, a provider of cryptocurrency trackers and index funds, stated. So that’s what he said there. The ecosystem looks to be expanding. Each unique active address does not necessarily represent a single person, but a single person or exchange can hold multiple addresses. Larger investors probably, you know, have many different addresses. You know, say they bought 10000 bitcoins. They’re most likely not going to put 10000 bitcoins into one address. They’re probably going to disperse them across different addresses. It says here, looking ahead, observers expect the number of active addresses to continue rising after this, having we’ll see the higher account openings at the end of May. If we go through 10000, without a doubt, if history is a guide, crypto has potential to see a price pullback after having because in previous hackings, we had massive pumps. And we’ve we’ve seen some really nice moves lately because this came right after already we received a massive dump. So remember, we’ve already received a absolutely huge dump right here, by far the biggest on this chart. And we’ve got we’ve kind of gone up, obviously, for the past seven potentially now making it a green weekly candles that’s just getting started. So we don’t know yet. But I mean, this is not necessarily like a crazy massive pump. It’s more of like we’re kind of still kind of at the break even because we were here. Everything that happened with the world absolutely destroyed every single market. This was not only something that happened on the Bitcoin charts. So it’s kind of weird because we’ve already seen a massive dump. Okay. Pride, the biggest jump we’ve ever seen. Definitely the biggest number we’ve ever seen in terms of, like, sheer numbers. I would say especially also in like a single short timeframe. It was like in one day, basically. So, again, I don’t necessarily think that that’s going to have to repeat exactly as the previous hanging’s. I think this again. Each having could be slightly different. Maybe this one could be massively different. But then it says here, Matthew Dibb expects active addresses to reach levels seen during the height of previous bull market in December 2017. The seven day average of active addresses clocked a record high of eleven hundred, a record high of one point one nine million on December 18th, 2017, the day that cryptocurrency clocked a lifetime high of twenty thousand. So the exact day that Bitcoin hit its current all time high was also the day that the active addresses clock their all time high of one point one nine million active addresses. So from a technical standpoint, the crypto currencies repeated failure to keep gains above 9000 is indicative of buyer exhaustion. It says here. But I would argue that while that may be true, we’re also seeing seller exhaustion. Guys, we’re seeing sellers not really able to make much of a move yet. We’ve already had pretty much the sell off of a century right here. And it just I mean, week after week, we’ve been seeing it getting pushed down and down. We spent we got rejected of this 100 week moving average for a while, but we eventually got above it. And we’re seeing I definitely think, even though we might be seeing buyer joshin right now in the short term. I think overall, mainly also what we’re seeing is seller exhaustion. Right. People don’t want to sell. And then we have here Bitcoin hasher has the all time high just days before the having as Bitcoin having gets near more miners than ever, trying to get most of the network get the most of the network as possible. What happens after? So just days before Bitcoin, Blocher awards are reduced by 50 percent with the having it’s reached its strongest point ever measured in a mining hash rate, according to the data from GLAST. Out here, one day, average mining hash rate of Bitcoin block chain reached a hundred and thirty nine XA hashes per second, trouncing previous all time highs. And I have a bigger version of this chart here. You can see these large yellow lines here. Look how high that is. You can see it is correlated. You see, when we had that dip, obviously the hash rate dipped a lot back in the very end of 2018, beginning of 2019, we had that three thousand dollar range, which is our current. Blow of the last three years. And again, you see hash rate increasing and increasing, which is very interesting there, right. This increase in hasher represents the equivalent of more than seventy one thousand new ant miners, S9 machines on the network, which is the most popular Bitcoin miner which can pump which can pump out thirteen point five Tera hashes per second each. OK. Huge. The strongest incentive for miners to jump back in has been Bitcoin’s recent price performance. OK. So people are joining Becky because Bitcoin’s become very bullish. Bitcoin has since recovered back from the Black Thursday crash back on March 12th when it went to that area in the low 4000, high 3000 that we talked about. And miners are currently trying to extract as much bitcoin as possible before their profits are cut in half. Now, it’s definitely going to alter the ecosystem. It always has. Every time the other two times it’s happened. But again, overall, this is seen as very bullish thing for Bitcoin moving forward. Guys like we’ve been saying for a few months, we might see we might see some volatility specifically around this having. But overall, the trend after the having is bullish. So, guys, thank you so much for watching. Make sure check out those links in the comments you guys are interested in learning more about t.A. If you’re interested in starting to trade. If you’re interested in getting a ledger. And also make sure to drop your comments so that you can be entered to this ledger. I think actually the next video will be the last one to enter before we give this one away.
