In today’s video, Bitcoin is still trading in this Obote’s channel and is looking actually quite bullish because we see a lot of similarities with the Bitcoin price right now and the time that we had the run up to 14000 U.S. dollar. But there is one fairly dangerous sign as well, which could indicate that we might see a huge sell-off fairly short. I want to have a look into that. And we have some bullish news from the banking world as well. So, guys, all about that Indonesia video. With that being said, my name is Shawn. This is the blog day today. The channel where users quite daily grip the videos. And right now, let’s jump into the content. OK, guys, let’s start with having a look at Bitcoin on a daily timeframe. Well, it looks like we are still trading in this upwards journal. And right now, Bitcoins is seeing a bounce from these reports right here. I’m expecting Bitcoin to continue this uptrend until we are breaking this up trending support right here and below that. We have, of course, the 20 weeks moving average. Any 200-day moving efforts which are lining up at approximately the same line at eight thousand U.S. dollar. So, guys, there are a lot of similarities. Swiftie price action right now with drifty price action. We have seen before when Bitcoin had this massive WARNOCK’S dollar fourteen thousand U.S. dollar. I don’t want to start with the hash reben in this period. We got a bicycle, the Heshbon well, in this period, we also got a bicycle on the ash ribbon. And yet they don’t occur that often and they are most of the time signalling a very bullish uptrend. So right here we had a bullish crash on the Mac, the Undie Weekly timeframe. And yeah, that was as well right before we have seen this massive run-up. Right now we are seeing as well a bullish cross. So it does actually looking quite good on the weekly timeframe that shows that the momentum clearly can shift out the upside and that there’s a lot of growth, a lot of space for the price to increase. And if I ever look at the airside that we can see that we are at a similar range as we were back then. We are right now in this range right here. Let me draw that for you guys. We are right now in this range, in this red box. And that was the moment we were trading right there. And right now, we are sitting in a similar situation in a similar zone. And we are also going slightly sideways right now. So this example is looking actually quite bullish. Right? We have a similar set up as we had before when we had this massive run-up, up to 40 guys. And yes, right now we have a similar kind of setup. And it’s also nice when we look at the Bitcoin cash rate that it is not decreasing yet. We are not seeing new all-time highs also, but yet it is not decreasing. So we are not seeing any form of mining capitulation right now. So you guys, most of the time we are seeing a sell-off after BEHA thing and we might see it as well this time again. But yeah, as I said in previous videos as well, I think it is getting less likely if everybody is expecting the sell-off. Everybody is talking about it on the current telegraph. If you read the comment section on YouTube, most of the people, definitely the majority is expecting a sell-off after the laughing. And that might be a reason why we are not going to see that happen. But, guys, there is one very important signal we have to watch because debt can be catastrophic for Bitcoin in the short term. It can be very bearish. And that is the regular financial markets. The S&P 500. So if we have to look at the S&P 500, then we can see that. Yesterday, we had a big read day and we go down this spot right here at approximately twenty-eight fifty. But it is definitely possible that we are going to see a reversal in the S&P 500. We have been talking about this and we have been expecting this as well. White that this is some form of debt cat bounce. So we have a youth drop. Then we have a quite extreme bounce. But eventually, it will lose its bullish steam, bullish momentum and it will all retest the lows right here or could even drop further. And if we have to look better wise, this can as well look like a double top. And a double top is as well a bearish bet. And that is a reversal pattern. So that means we have an uptrend. Then we form a top. We retest that top again. We are getting rejected. And that is the moment that the price is heading lower. And guys, now comes the most important question, of course, how dangerous can this be for Bitcoin? Well, honestly, I think this can drag Bitcoin down definitely in the short term timeframe. If we are going to see another liquidity crisis like we have seen right here, that a lot of people, they are selling their assets, add in a liquidity crisis. It doesn’t matter what kind of assets. You just sell everything you have because you need liquidity right now. And yeah, if that’s going to be the case right here, then I think definitely the crypto markets as well and the gold markets everywhere in every market, we see a huge sell-off because have people they need cash. So, guys, I will definitely focus on this job as well. And look, if we still see a clear correlation between Bitcoin and the stock market, because this price actually we haven’t seen that much correlation. But yet this is also not a liquidity crisis. And I think in general, Bitcoin can be an uncorrelated asset, but it is well known for when we are seeing a liquidity crisis that everything is correlated then guys a not a thing where we could signal that we were seeing this drop in the S&P 500. That is a indicate that I have been talking about a lot of times and industry volatility index. And let’s go to be volatility index of the S&P 500, because right here, when we are streaming in and let’s go to before our time frame, then we can see we broke a certain resistance right there. And yet here we broke the resistance. And the higher the volatility, the more bearish the financial markets. So this is a great integrated to show whether the stock market is bullish or bearish. And right now, it is definitely looking that we are entering a bearish territory. So this is something to take in mind as well, a chart which you actually want to see if you’re analyzing the S&P 500. So, guys, quick summary right now, Bitcoin is still trading in its uptrend. If we were to break this report right here, that will be bearish and it could signal us that we are going into a long term time retracement. Most import sports right here is the 20 weeks moving average, any 20 days moving average, that is right now at approximately eight thousand U.S. dollar. And guys, one huge warning, of course, if we are seeing the S&P 500 crash again, then that can definitely drag Bitcoin down with it in the short term. So take an eye on that. When you are trading Bitcoin when you are long on Bitcoin and you are seeing a huge shelf in the S&P 500. It might be a good time to reduce some risks. Then, guys, we have some bullish news from the banking industry. JP Morgan, extensor banking services to cryptocurrency exchanges. Yes, you heard that right. I could care less about Bitcoin. I don’t know anything about it. JP Morgan is finally ending both right now. These things are good for the adoption of Bitcoin because the more big players we have in the scene, the harder it is going to be for officials to ban or block Bitcoin. And guys, you all most probably know descended from Gandhi. First, they ignore you, then they laugh at you. Then they fight you and then you’ll win. And when we look at Bitcoin right now, we are definitely and one of the later stages, gay guys, that much of ordinated video. I hope you all enjoyed it. If so, please leave a term shot. If you haven’t subscribed to the Jenny ads, then please do so. And don’t forget to hit the bell icon. I’m overloading every day a new video about the cryptocurrency markets. And guys, I will see you all tomorrow. And don’t forget to huddle. But this is the last time I’m ever gonna answer cause a big company. I don’t care.


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