Where is Bitcoin going? How is this going to play out in the next couple of days? Today’s lesson. We’re going to dive into some of the more important news happening in this week of April as we’re heading into the heart of the Coronavirus epidemic with various indicators showing that we could potentially be turning to the upside, based off my analysis, based off the fundamentals, based off of some of the macro perspectives in here. So welcome again, ladies and gentlemen, if you have not joined my Petron group. Make sure you go ahead and do that. We have a trial period this month where I’m going to be going in talking a bit more about the group and more importantly, some of the things that I’ll be referring to. That may be time-sensitive. This is going to be one of the most profitable months, I believe, in 2020 as we’re establishing some bottoms in many of the altcoins. If you haven’t, follow me on Twitter at Seabee Fund Strat where I go ahead and talk a little bit more about in detail some of the things that have been happening with the market. And so before we do that, let’s go ahead and the ounces, pose some questions, press like and subscribe and let’s get started. All right. So Bitcoin has done extremely well these last couple of weeks. In fact, starting since March 13th, Bitcoin has rallied a whopping 50 percent since then. So many people who are saying that bitcoin is not the place to be. They’re saying that Bitcoin is not the hedge against this market. They should really look into it because it’s been outperforming the stock market. Gold and any other asset class you can think of. And more importantly, Bitcoin establishes a low about three thousand nine hundred, not two, while back in March, about 4000. And now it’s almost doubled again. Let me repeat that one more time. Doubled since then. Base off this news. So I think that Bitcoin is definitely heading a lot higher. And I think that Bitcoin has once again regained its mojo. All right. So let’s get started with this. First thing I want to show you guys is if we take a look at bitcoin when it was established that low around three thousand nine hundred got really excited here, it went ahead and got a little lower. It dipped around five thousand. And then now we’re sitting at seven thousand and change. Maybe you actually take a look at that low that was established here. We’ve already risen about 40 percent from those lows. So, again, here is the thing I want people to understand. Bitcoin is here to stay. Bitcoin is going to be the ultimate hedge against inflation. That’s a 40 percent return if you were accumulating around this level. OK, so that’s a very nice percentage. It’s something that I’ve been definitely saying telling people to average down as you’re heading into this slide. Do not try to time the bottom. If you do that, you’re going to end up a missing the majority of those gains. However, if you did miss that bottom, which you’re actually now seeing is a slow grind to the top. And this is where I get very bullish. I think that the market’s going to head higher. I think with the having just around the corner, this has already established a very nice short term bottom that I think it’s going to push Bitcoin to eight thousand from these levels and possibly to nine thousand. So again, mark my words on this question, gentlemen, this is one of the more bullish indicators that I think is happening with Bitcoin. And the people who are still naysayers about it are not understanding that Bitcoin is very resilient to the very things are happening right now with the financial markets. Now, to put this in perspective, let’s assume that Bitcoin is in a bear market and it continues to go lower even before that. Bitcoin is probably going to end up and take a trip up here tonight. Thousand, that’s about a 20 percent return from these levels, which means that even if it does not, I repeat, even if it does not end up going higher, it could end up being at that nine thousand. So be eyeing that eight thousand. Very careful. We’re almost there. We’re not really just too far off. We’re about 10 percent away. If we do get a rally tomorrow, most likely will a blow that out probably hit that 9000 marks. And at that point, we may end up going lower if the market does not cooperate. Now understand that we are still in a downtrend. So I’m going to draw this out just to kind of show you guys a little bit about where that intersection looks like. So I always look for profit potentials and I always look for areas of resistance. So to be on the safe side, I would say that from this point forward, we have about an 18 percent trading range where Bitcoin could potentially top out. Now, again, I can’t predict the future, but I can’t tell you the probabilities. We are in a short term intermediate uptrend area that is good enough for me to trade. And obviously the best trade would have been here around March 19th, March 20th when we had. Low on bitcoin, we had that heavy volume selling off on this big candle. Many people were scared, did not want to buy it. And at that point, people prior lost a lot of money. But now we’re seeing this nice retracement all the way back up. So that’s what kind of what I’m aiming for here. Now, looking at the longer-term timeframes. Can Bitcoin go to ten thousand? Absolutely. If we take a look at this prior trend and then I’ll go ahead and highlight this one right here. You could see that this one lasted all the way from the consolidation period here in December, all the way up to 10000. And that leaves in, gentlemen. It was a return of about forty-seven percent. So if you actually go back to this and you ask yourself, you know, let’s be more on the conservative side, let’s say we were hitting here around. I’m I go, I’m not going. I’m going to ignore this bottom. We’re great here just because that was more like a flash sale, whereas average to 5000. That’s the bottom. OK. And if we go up to forty-eight percent, it’s already gone up. If it’s already gone up about forty-three. But the thing is, the sell-off was a lot faster. So potentially, you know, we could hit that 9000 targets, which I’m very, very carefully here. OK. Now, another thing to take a look at. You know, looking at the longer timeframes. And so, again, just to make sure we’re aware, we are in a longer-term downtrend line that was established back in July. So make no mistake. Ladies and gentlemen, this is not a bull market. We are still in a bear that has occurred since July, June of two, 19, June and July 19. We need to break this in order to establish a new uptrend line. So what I’m looking for here is a counter-trend. The counter-trend, what that’s going to look like is a potential run. Obviously, I want a straight line hitting this main trend line and then from there going down. If the trend continues, if the trend does not continue, then at that point we’re probably going to end up breaking at that point. Now, obviously, I’m more onto the bullish side, but what I will do want to see is some sort of massive volume pump that’s going to allow Bitcoin to break this intermediate long term chart that has been established since that July, June 19 parabolic move. Now, with that said, what does that say about the altcoins? The altcoins are gonna follow Bitcoin, obviously, and I’ll be tracking with my memories, talking to them about specific projects that I think have the higher potential. Bitcoin goes up 20 percent. Some of these products are going to go up way more than that. If we break this downtrend line, then basically the sky’s the limit. We’re probably gonna end up revisiting that fourteen thirteen thousand dollar price target that was established back around July of nineteen, which was a very nice month. Now, another thing I also want to mention is and gentleman is traditionally summer has been summer and winter are usually the really more powerful months that people tend to get into crypto. What I do expect is this one-year downtrend to at least try to make that break. If it doesn’t, it’s probably going to a continued lower and we’ll get another chance to re-enter. And so I wouldn’t worry too much about missing out on this on this rally in the event that things don’t go our way. Now, obviously, with anything, anything is possible, so I’m not saying that Bitcoin is going to shoot up here. I am not saying that Bitcoin potentially is going to go higher in the longer term. However, in the shorter term, we’ve definitely established is very, very nice of trend line that we’re just waiting for this to really pick up some steam now. We have a lot of sell pressure that was put in place starting here at the 9000 on March 7th when everything just completely went vertical. And the market needs to digestives just because of the fact that whenever we have this waterfall sell-offs, you generally have this very nice grind as you get and see we have a higher low. This higher low was established here on April and we actually definitely have the bottom right here. So we just need to hold this and move forward in such a way that the market can regain its confidence back and make that trip up to that 9000 marks. Now, again, I’ll be accumulating on the dips here, going all the way up here. And again, it’s a very, very nice trend. Now, keep in mind that people are going to be selling on the way up. So there is definitely a lot of a selling pressure that’s can be put, especially that people got caught on this area. So what I’m going to be watching is what’s going to be the pattern here at around 9000, because that was when we got the people who ended up not being able to get out and got trapped here and now, which you want to break even. Obviously, we need to establish this upward trend line, which is going to be this 10000 area for it to be to mean anything. All right, guys, we’ll get very bullish for Bitcoin. In summary, what do I like about Bitcoin? I think we’ve got a very nice trend here that we’re going we’re definitely done with the selling in the short term. We’re going to be establishing something along these lines right here where you get the trend, you get the sell-off, the trend, the sell-off and the trend. You got one wave to wave, three-wave, four-wave. Now, just like how we see it on these lines right here, we have one one impulse move. One down post-move, which is obviously the higher one. We have one up and we have gone down and then we have the final higher one. So what I’m looking for is the third wave, what they call it in the Elliott Wave analysis one. We got the one there. We got the two coming out from that section, which was established here around six thousand and we have your higher one. Usually, this is this one goes for a little longer. But, you know, it just depends sometimes it doesn’t have to exactly follow those rules. We get the pullback and then we get the final push, which is our final one. So you’re going to have a little bit of work here to kind of work off of. Ideally, you should have basically bought around these areas and started to really hit hard on these trend lines. I really like this pattern. Really good. All right. So if you want to know more about how I want to be trading this, where this is going to lead up, what are the signals I would be looking for? Check me on patrons-only 10 bucks a month. Just something to support the channel. Really appreciate it for all of you guys. Well, you’re going to get to see a little bit more detail, a little bit more about my exact real-time situations and what I’m thinking. All right, CBA. Have a great day.