Hey, what’s going on, everybody? This is the block chain backer bringing you the latest cryptocurrency news and analysis. And today we’ve got a big move on Bitcoin just to start the day right off. And let’s take a look at the whole market, because we’ve got a lot of things going on here. So the main thing that we’re watching for with Bitcoin and with crypto currencies is to make sure that we’re going beyond just a retracement. Right now, we are still in a retracement zone and we have levels that we have to clear in order to really start getting the rocket ships going, the moon boy hats on. And this is the level that we’re at right here getting right through there is our first step. And then, of course, we really need to clear this level right over here just to really kind of add that extra two hours to our excitement levels. But right now, we have the biggest resistance level coming up very soon. So I just want to make sure that everybody is aware of this. Now, I pointed this out last time when we were up here, coming up to our tops on on a lot of the then we see and they pull up the Alzugaray and market cap. And you can see that when we put it on right here, that the seven 02 Fibonacci retracement level was the one that rejected us last time. And now we are coming up to it very soon. We are almost at the point six one eight on the outgoing market cap, still needing to reach up to this point, seven zero two. These are critical levels that need to get surpassed and then we need to surpass that one to to say it’s not just a Fibonacci retracement. So we are approaching it, but we are way, way, way off the lows. So in this video, I’m going to kind of just show you different things that I’m looking at right now. We will get to the X Arpey chart. But first, I want to look here at this Bitcoin chart to kind of show you the things that I see, the things I’m looking for. What would scare me? What would not scare me? What would make me really bullish? And let me just show you these things. The most important thing for me with Bitcoin is that this level does get cleared is that we can get beyond eighty five hundred to nine thousand if we can get B on these levels. It just it really removes a lot of that fear that we’re having in this market for me. Right. It takes a lot of it off because when when we’re down here in these really dirt cheap prices way down here, this is not when I’m scared. Yeah, it’s it stinks. Right. It’s like cheese. We just added a whole lot more time to how long we have to do this. But this is not the point where I get scared. This is the point where I’m saying, hey, you know what, I’m bullish. I’m really bullish down here because the price is going to have to come back up. It doesn’t just keep going straight down, down, down. If it’s going to continue down, there would at least be a bounce back up. This isn’t the level to be a seller looking for lower prices. If you want lower prices, you wait for the price to retrace, then you can sell and then you see if the price is going to rollover. For me, I’m not selling here because I’m very clear about that. I’m just accumulating I’m building my position because I’m looking for a much bigger run. So for me, I want it to break to the upside. I’m not I’m not, like, managing risk right here. I’m full all in. And I’m going to let it go and see if it can clear through here. That’s not for everybody. A lot of people need to be taking some risk off of the table right here because you could see how emotional people got way back here. The problem is a lot of people aren’t going to be taking risk off right here. It’s because they took risk off down here and they sold down here. And now that the price has risen back up, their emotions have brought them back in the market. And they’re putting risk on right here and they’re buying. But we’ll see if that’s going to be the right decision to make because we need to get through this zone. If we can get through this zone, we start looking at a lot a lot further higher targets. If Bitcoin can clear this nine thousand nine thousand one hundred level, then we can say, OK, well, let’s move on and move this back up to the very top and we can say, well, the next zone is going to be ten thousand nine hundred. Pretty much eleven thousand is going to be the main key point to breakthrough. And then if that level can break through. Right there. We can zoom out even further and we could start measuring the whole thing. And saying, OK, the next target is going to be way up here near 14, 15000, about 15000 for Bitcoin. So beyond that, that’s kind of how we get to these targets and we start looking. Right. And then once we start breaking new all time highs, we can talk about these really high prices. But first, we have these resistance levels that need to get cleared. And I want to make sure that everybody can see them before we get there. Now, one thing I’ve been looking at is like, OK, well, let’s see. Do we see anything familiar here going on with this chart? So put it on like the four hour time frame. And I’m like, man, this looks familiar. What we kind of have, you know, just a kind of bump up like this, break out like that. And you know what we saw right there? We take that off and I’m gonna grab that and shifted on over here. And look at that. Same type thing. Right? Kind of. Two little bounces right there. Kind of a break out of the consolidation. And then we just exploded on out of it. So is it going to look just like that now? Oh, no. Is it going to go up to that target? I don’t know. I know where I see the big resistance’s are in. The big resistance’s are going to be right here, you know, between eight and nine thousand right here at about 11000. And then another one right here at about 15000. But the most critical one, the most critical one is this one right here. It’s the first step, right? The very first step. You have to do is get out and not make a lower high. So the most important thing is that we get through this retracement level and then we go on and we set a higher high frings at a higher high. That’s the first step. And that’s where we could say, yay, we did it. We achieved the first step. We’ve now made a higher high. Are we there yet? No, we’re not there yet. But that’s what we’re looking for. Will it come back down here and consolidate longer and do something like that? Probably. You would think it probably would. But it would be OK because it would mean that we got be on this retracement level. And the retracement level is the most important thing for us right now is getting out of here. It doesn’t matter if we get up, come back down and mess around here for a while. Consolidate and then go. That’s fine. But we have to get through this level, which is around eight and a half to nine thousand dollars. And I’m not talking like get to nine thousand one hundred. We need to just get through it, you know. Nine thousand three hundred four hundred. Keep going. We need to get through the zone. As for the SRP chart, that’s kind of our major zone that we have to get through. Twenty seven to 30 SENSE’S where the big resistance level resides. I got asked yesterday by at X Arpey rocks if I think another downturn will happen. Well it’s and it’s impossible to know right now without us getting to here. We have to see if we’re going to get through these key levels and see if these key levels reject us like they did last time. Right now, when we look back at previous fractals and what happens. This could be it. This could be the takeoff. How many times have we said that? We’ve said that a hundred thousand times. Are we just beating a drum and, you know, repeating the same thing over and over again? Maybe. But the key thing we have to look at as well. We know for certain we can count on Fibonacci retracement. We know we can say, well, let’s see if we get beyond a retracement. If we get to just a retracement and we just get our way up in here and then we turn over, we have to say, well, it’s possible that we’re going to come back down and consolidate even longer. But if we get through this zone, it’s on. It’s just on. And as for the total AWALT Quain market cap, we still have about 13 percent left in this run to the upside before we reach that point, seven zero two. And you could see just how perfect it capitulated from right there. Right. I mean, that is not by coincidence that you see that. Let me get an arrow right here. Look at that right there and how perfectly that thing hits it. And that’s where it starts at. And then we capitulate down to the bottom from there. That’s going to be our key level to get through right there, just like we did on the last move. That point, seven zero two for the total equity market cap on trading view. That’s about ninety two billion. Now, trading views, trading views, charts a little bit different than what you’re going to see reported on coin market cap or what you’re going to see reported on chart stock coin traded up pro. But when we’re looking just at this trading view chart, need a clear through this 92 billion. Now, one thing he may be saying to yourself, too, is, dang it. Block chain backor you’re supposed to be super bullish right now. This has been the biggest nightmare of a month and a half and we’re finally seeing some green. And you know what? We’re shooting to the upside in here. Why are you not being a moon boy right now? But I have been bullish. I have been bullish the whole time we’ve been down here. But this is nothing unusual. Right. And I talked about this on my live stream of talk about this and other videos when, you know, Jude Hayatou has made my intro and the intro has that point, seven 02 Fibonacci retracement with the Green Arrow getting through the seven 02 retracement. And we’re going to the moon. But this is the point where I exercise caution. So for those who forget that, because there were a lot of people who forgot that when we capitulated down to the downside side, I heard over and over again, block chain packer, you’re always wrong. Well, first of all, I was right here and then I issued grave warnings here. I was right here. And now I’m issuing grave warnings right here for those who are emotional traders, emotional people who are buying back into the market right now. You need to know what you’re doing. You’ve sold a bottom during an emotional stage. And now you’re potentially buying a top during in an emotional stage. And I can see that happening because if you measure the amount, anybody who got capitulated way down there has lost about one third of their total stack. But let it be known, guys. This is the area we have to get through. All the marbles depend on this right here, which is 92 billion for the total AWALT going market cap. Eighty five hundred to ninety one hundred for Bitcoin. Twenty seven to 30 cents for X Arpey. Now that I have gone ahead and issued all these warnings and I’ve showed the places that have to get cleared. How about we put our moon boy pants on or a moon boys shoes on for the rest of this video? And I’ll show you things that I’m hoping that happened. Right. So as most of you know who have been around my channel for a while. But for anybody new knowing, wanting to know where my targets are, my main targets are way, way, way up here. Around 13 dollars is the first big target for me. Now, I know there’s a lot of people are going to say, well, what about ILP? What about OnDemand liquidity? What about what if all the stimulus checks start getting paid out using the X or P ledger? Yep, I know. I know. That’s all possible. And, you know, that narrative may be the thing that drives the price up. But there’s going to be people who can’t let go of the price because of that. And, you know, that’s OK. That’s your thing for me. No matter what, I will be letting go of some thirteen dollars because I’ve got life goals I want to achieve. If the price goes beyond that and goes to, you know, ninety eight dollars and I’m like, I can’t believe I sold that 13. It doesn’t matter. Most of my bank will still be in there to go on that ride. However, there’s life goals that I have and I want to achieve. And it doesn’t matter. I’ve already mentally prepared myself that if I sell there and the price goes up way beyond where I’ve sold that portion of my bag at, it doesn’t matter to me because I’ve achieved and gain something in my own life that’s more valuable to me. For a lot of people, that may just be a peace of mind. Right. A peace of mind can be more valuable than the money. It’s actually, you know, the money itself. Just having a peace of mind can be extremely valuable. And that’s something that I will gain at that moment. So 13 is the biggest target. The next target beyond that’s going to be 26 dollars. We’re not going to dive deep into it. But if we looked at the percentages of the moves in the past, it would take us up to twenty six dollars. We even ran a huge mathematical calculation of if the Bitcoin dominance does fall to 15 percent and Bitcoin, does this move that we’re talking about right here where Bitcoin comes all the way up to the four point two, three six extension? And the Bitcoin dominance falls to 15 percent. That would mean that X Arpey would be exactly at twenty six dollars. So we had to conformations that twenty six dollars as a target. And that would also be another target for me. The next the last target for me would be way up here at about fifty five dollars. Now that’s where probably 85 percent of my bag would be gone. I would have about 15 percent in my bag remaining at that point. And I would just let that ride and hold onto it and see how life turns out at that point. But at that moment, that’s when most of it would be gone. That’s when the block chain backer would be mostly out. And that’s when a new stage of my life would begin again. I hear people saying because they get asked these questions in my life chat all the time. What about a thousand dollars? What about, you know, three digit, four digit? What about the five digit prices? You know, maybe I don’t know. I can’t mathematically come up with them or forecast them in any way. Is it possible that it just keeps going and going and going? Sure. I guess so. But I’m not going to count on it. Right. I’ve invested this amount of time, this amount of energy and this amount of money to achieve specific results achieved those specific results. And if it goes beyond that, then it goes beyond that. But that’s what we’re looking for. And all of my long term viewers know that 13. Twenty six. Fifty five. But OK, I better hurry up and get this video out because Bitcoin is still breaking out. And you guys need to see what I’m seeing before this thing actually gets there. Because what if it turns on itself? So I’m going to go ahead and finish this video, wrap it up now and get it published. You can follow me over here on Twitter at B.C. backor I do post charts and all this stuff. And with everything that’s going on in this market today, you’re probably going to see charts from me over there today. So follow me at B.C. Backer. I want to thank you so much for watching. Please like this video and give it a thumbs up. I always check it. It always means a lot to me to see those thumbs up. Please subscribe to my channel. If you’re not subscribe that way, you can be notified of when I create new content and when I go live. As always, this is not investment advice and I am not a financial adviser. But if you ever need a pick me up or a little bit of reassurance, just remember that the block chain backers got your back half a. One.