Bitcoin continues to stabilize in a world of economic uncertainty. Bitcoin bears’, bitcoin bulls, they bounce all across the crypto stratosphere. The question is what kind of indicators or signals do we have right now to get some clarity on what the next move for Bitcoin is? What’s up, everyone, thanks for coming by. We’re going to really dig into these charts. I’m going to make it short and sweet for you, though. We’re going to look at a very important signal. If you’re on your way in here, hit the like button. You know, it gives me that momentum that I need to do these live streams and it just means a lot. So thank you for your support. I’m going to jump into the charts for context before we look at signals and what I’m talking about here. This is Bitcoin on the weekly chart. Now, I was talking to a buddy about this yesterday. The similarities in terms of the weekly bottom for Bitcoin at the bear market, low to where we are now, they’re very similar. You can’t ignore that. They’re very similar, just even in terms of the two hundred weekly moving average that we have at the bottom of the screen, support at that area kind of trending up above that area. And they’re very similar in a term in terms of momentum. Look at the stock, RSI, this quicker moving momentum oscillator that we have in the middle of the screen right here. You see this signal kind of happening in terms of oversold on the weekly AR stock RSI. Same thing on this balance on the RSI. The slower moving momentum oscillator, probably a more reliable momentum oscillator. But again, so many similarities in terms of what they Quinns doing right now. But if we open up the weekly chart, we can see that there is true potential. Right. If we look at the similarities, there’s potential to revisit this area down here, even tested. Maybe Wyk below it a little bit for a week or two. So we have to keep that in mind. So if you’re really trying to like in where Bitcoin is to that bear market, you can say it’s kind of like maybe right here with a potential for a downward move. Right. That’s yet to be seen. But please, I think we should definitely keep in mind that macro outlook where we are, this next move, whatever it is, could take weeks. It could take a little bit of time. But we have to be patient. We have to look at support. Now, what I want to do. Is this. I want to start with this quick clip. And this was a from a video March 18th. Check it out for context to the signal. So Bitcoin. Now, the reason I’m using dashes. Dash just had a huge move out of all that altcoins. It’s giving us some perspective of an actual technical breakout hitting targets. We go to bitcoin. Same thing. Bitcoin has been in kind of a bunch of different patterns again, depending on how you want to chart it. What you want to do with it. A lot of volatility. It’s hard to chart. I’m still looking for a structure, but we have some trend lines. We have some areas of resistance and such that we can look at. So here it is again, a similar type. So there you have. You might remember that video. You might have been here or not, but we know what happened after that bitcoin. If we go over to for our chart, we can see bitcoin followed dash in the footsteps. I forget exactly how far after that video, but Bitcoin took off as well. So let’s look at a similar type of setup that could potentially be in play that we should keep our eyes on. Let’s go to Dash. This is the 4-hour chart. This is back in February. Dash made a pretty big move out of this descending triangle. You can see it here. It hit its target really well in terms of, you know, this breakout to the downside, hit the target right down here around eighty-four dollars or so. And obviously, this was a continuation down. We had another leg down after that before all this crazy stuff started happening in the markets. And then we go to where we are now. Now, Dash is has a very similar looking pattern right now. And I’m not doing this video. And I want to say this. I’m not doing this video and I’m saying, hey, Dash always leads in front of Bitcoin. That’s not true. altcoins multiple different altcoins often do move ahead of Bitcoin. We always should keep our eyes on moves that are happening. If you see like like coin like 10 percent plus move either direction. Bitcoin is not doing anything other. All coins aren’t doing anything. You have to consider that as an indicator to really all markets. I’m using Dash because Dash seems to have been kind of pretty reliable lately. Inconsistent. So that’s why I’m using Dash. It doesn’t mean we’re definitely gonna get this, but keep an eye on it and keep an eye on this pattern because I think it’s very important and relevant. Here’s the pattern. This is the pattern similar to the pattern in February, is Dasch going to break to the downside? Right. Support may be around $60 a break below that. Will it happen before Bitcoin makes any type of move down? That’s what I’m looking for. You know, on the flip side of that, I’m seeing is Dasch going to take off out of here? And again, will that happen before Bitcoin? These are things to watch for. If you go to Bitcoin charts, Bitcoin kind of has its own thing going on. A couple of different things that I’ve been watching. This is with or without the dash data that we have and we can use it with or without. So that’s good. So we’re using utilizing all these different data points and data sources to get some context on what the next move for Bitcoin is. And for me, I’m looking at two main things. The ascending triangle that you kind of see on the chart here, we have a couple a few higher lows and then we have some resistance here around sixty-eight sixty-nine hundred dollars or so. And then a potential head and shoulders that I’m looking at in terms of bitcoin right now, potential right shoulder in play, some resistance here at the 50 moving average on the four hours. Right. So potential head and shoulders. Let’s see what the right shoulder does. Are we coming back down to test that neckline? Fifty-nine hundred. And what happens at that neckline? A bounce where we breaking through? These are things that I’m looking for at the end of the day. I feel like I am kind of leaning in the direction of a similar move to the bottom of the last bear market. Right. And we just looked at what that looked like on the charts. We had an initial swing low and then we had another revisit to the two hundred moving average. And it was a higher low. It was a healthy move for Bitcoin. And I’m kind of sensing that we might get something similar, a move down here somewhere in 5000 at least, if not a Wickenden for thousands. Right. So going back to Bitcoin, this potential set off, especially its head and shoulders, you see especially dash data that we have with a descending triangle. There’s a strong potential for a move down for bitcoin right now to hit maybe five thousand, even fifty-five hundred somewhere down in this area. If you remember, we also have this swing low Fibonacci that we were looking for as a potential swing low, a good area of accumulation. It’s the initial swing low to our swing high and we have this channel and this is it. This is a true accumulation channel five thousand down to around forty-five hundred. So you see a lot of confluence happening with this head and shoulders set up target right into that channel. So be prepared for it. That’s all I’m saying. I wanted to share some data. Obviously, there’s you know, there are bullish scenarios in play right now. I lean in the direction that Bitcoin’s going to make a move down. I would like to be wrong. And press 1 in the comments right now. If you would like me to be wrong, we can all want me to be wrong. At the same time, because it would be good. I want a bullish move. And maybe my next video of bitcoin doesn’t make a move by the time I do another video. I’ll do kind of a more bullish scenario. What are some things in play for bitcoin? But right now, that’s what I’m looking at. You know, we have all these different data sources that we’re looking at. We did just get this daily 50 moving average crossed below the 200 moving average, something to keep an eye on as well. And there’s strong potential for, you know, a slight move down for Bitcoin. Just be ready for it. Let me know your thoughts in the comments below. I always I’ve read the comments, everybody. I really do. I appreciate all you coming by. Belial, Conn. Sorry if I didn’t pronounce it rice right. Eric Morris capitalized 7 7 7 Kenny Ski Auto Spray. I’m getting a lot I’m getting someones coming in. JACOBS OK, with one more dip. What’s up, everybody? I see you in the comments. I appreciate. Come by. Those are my thoughts today on Bitcoin. Wanted to do a nice quick video for you. Hit the like button if you’re here. Hit the subscribe button, we’re gonna get through all of this. You know, the charts, this Bitcoin dip entering the Bitcoin bull market when Zak gonna happen and obviously this whole coronavirus situation, you all are in my thoughts. You’re in my prayers. I think we’re gonna be OK. Just kind of navigating through this on a day to day basis. I appreciate you coming by, as always. I will see you in the next video. Have a great day. And God bless.


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