INSANE Bitcoin Setup! Mega Move That Could Skyrocket CRYPTO!

In this video, I discuss one of the most exciting setups in Bitcoin’s price I’ve seen in my six years of tracking it. I start with a broad view of the market, noting Bitcoin’s slight uptrend alongside altcoins and a curious correlation with the S&P 500’s all-time highs, especially in the context of election years and global events like the COVID pandemic. Focusing on the daily chart, I explore the potential of Bitcoin consolidating for two months and the significance of the 618 Fibonacci level, pondering whether Bitcoin will drop to around $30,000-$35,000 or break into a bull market sooner due to influences like major firms owning substantial Bitcoin amounts. The video delves into the uncertainties and the intriguing possibility of an ascending triangle pattern forming, indicating a significant market shift.

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Intro 00:00
Incredible Bitcoin setup 00:50
BTC resistance context 1:40
Why this is a big deal 3:10
Careful here 6:40
Will require patience 9:00

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This Bitcoin daily chart move is this is a massive move this is one of the ex most exciting setups in my like six years of creating content on YouTube tracking bitcoin price this is like one of the most exciting daily chart setups that I’ve tracked and in this video I

Want to explain why I just recorded this video I was about to post it and I just realized something I need to redo this because I don’t think I was expressing enough in the in the recording how massive a move this is and so please hit the subscribe hit that like button out

There if if you’re out there and you’re in crypto everybody you’re on this journey I appreciate you just being on this journey with me cuz things are heating up it’s getting exciting and it’s just fun let’s let’s jump in I’m going to try and do a better job in this

Video to to discuss and I’ll actually start on the daily chart very briefly and talk about one thing this setup that you see here this is a rising wedge setup you see this upper trend line going back to 2022 like August 2022 back here this is bare market area we haven’t

Even bottomed out in the bare market yet that was the the bottoming out was the lower trend line setup of this Rising wedge breakout Target 70,000 that is so critical that breakout Target in the longer term scheme of things this has Bitcoin breaking through the bull market

Doors now before I dig into the daily chart what’s happening right here above this upper trend line and below this massive resistance before I even dive into that and talk about how big of a how big of a situation this is why this daily consolidation on the daily chart

Happening with Bitcoin is the most exciting I think in over six years of content I want to start briefly on the 6 hour not to repeat myself a million times but you all know I have been tracking the macro Fibonacci 618 resistance bull market High to Bare

Market low happens every cycle the bull market doors the green area the 618 area is around $48,000 Bitcoin got rejected very brutally off of that area weeks ago this is a weekly chart rejected and we have not broken since now this is a move that has happened in previous Cycles back

Here was 618 rejection down to the downside you go back to the last cycle before that as many of you know rejection at a 618 Fibonacci back to the downside I’ve been talking about a very similar thing I just want to get this out of the way just to to set up what

We’re about to look at on The Daily I’ve been talking about rejection at the 618 back to the downside to key moving averages the 20we moving average is around right now around 37,000 it’s cruising up it’s moving up and the 50 we moving average around 31,000 so this

Range down here is actually moving up 31 to $37,000 now potentially for Bitcoin to consolidate to I’ve been talking a lot about that just because it’s a common thing it would be the most commonplace move for Bitcoin and I just like to anticipate downside even in

Bullish Trends I am so bullish on crypto right now everybody that’s why I’ve been saying if that move to the downside happens it is one of and and the warning is I think it’s the one of the last opportunities in crypto before the parabolic bull run now let’s go to the

Daily chart check this out this is where it’s becoming insanely exciting put aside for a second the bull market doors and that resistance that is there right now that we are tracking that alone from a macro perspective we wait four years for this type of setup we we wait years

And we wait a full cycle to start pounding on those doors that’s exciting let’s just take into account this macro pattern for just a moment this macro pattern the setup is a $7,000 Target what’s even exciting about this is the very fact we had the breakout back in November right into December we

Cruise up to the upside and we pull back we throw back to the upper trend line anytime time we have a macro pattern like this that alone is exciting to track right these macro patterns then we have a breakout of the trend line and a a very typical throwback to the trend

Line to retest that is exciting now Bitcoin has actually seen support on this daily chart at this area and this is where things become like quadruple exciting for me the move alone from a technical analysis perspective is cool but the very fact that Bitcoin right now is bouncing between the the upper trend

Line that it broke out of and the macro 618 bull market door resistance we are bouncing in between that area right now and it has been for around a month consolidating at this general area right around $43,000 you go back like look we can go back here December 11th like

Almost two months ago really Bitcoin right around $443,000 right so we’ve been sideways and it is sideways and this is why I’m saying O over six years creating content on this YouTube channel this is the turning point this is the massive question we’ve been asking is it

Different this time is Bitcoin going to break the bull market doors prior to the Bitcoin having is it going to happen the answer is is within this daily setup the answer is within this daily chart and that is absolutely incredible to me right now and again this is waiting four years to

Have this answer or this question answered and here’s the thing now we start zooming in and this is the story we’ve really been tracking we can even say we’re hours away now of getting even maybe some answers because we’ve been talking about I’ve been talking about potential break to the downside the

20-day moving average is crossing the 50 we’ve been talking about this this fake out move right here that is happening the pull back to the moving averages right now on the bit coin daily chart Bitcoin currently and there’s around 6 hours left on this chart but Bitcoin right now

Is just above the 50-day moving average I’m very curious to see how this daily candle closes 50-day moving average around 42,800 the 20-day moving average around 42,2 it’s so critical to me because I’ve talked a lot about how when we have 20-day moving averages Crossing below

The 5050 we get the pullback kind of a fake out resist lower high continuing down can Bitcoin close above these moving averages and not only that can we start getting some separation I want to point something out on the RSI on bitcoin right now you can see bitcoin’s

At this lower high on the RSI slower moving momentum oscillator so right now it’s a really cool move on bitcoin breaking above the moving averages I’m being very cautious even still I want the bullish move to the upside I want to break the bull bull market doors sooner

Than the Bitcoin having I want to do this thing I want to see Bitcoin do this thing that has never done before in previous Cycles breaking those bull market doors prior to the having but it is these Stepping Stones on the shorter term and right now there’s still six

Hours left of the daily candle this move that bitcoin’s in right now to the upside I’ve seen it it could fizzle out and this could end up being a resistance move to to the 50-day moving average we could close a daily candle below the 50-day moving average it’s not far away

It’s like a few hundred day a few hundred away from just closing below the 50 and then we’re still monitoring resistance at this general area the resistance area is 42200 or so to right around 42,800 how does Bitcoin daily candle close it’s one of the most exciting setups because still speculatively I

Think I mentioned another video as Bitcoin bounces around between the upper trend line here and the 618 resistance we could have this potential for an ascending triangle for Bitcoin right now and that is to say we we might be faked out to the upside to downside multiple

Times 618 being tested again here around 48,000 coming back down ascending triangle at this point would be in play in the speculative move that I’m just charting but this could be the most exciting setups because this is a multicycle thing this starts answering the question is it different this time

Where Bitcoin doesn’t retrace as much to the downside as it as it has previous Cycles are things like Bitcoin spot ETF in play driving Bitcoin to act differently look black rock and Fidelity now own combined 9,264 Bitcoin worth $4.1 billion do for their spot Bitcoin ETFs we have around 80 days until the

Bitcoin having the setup is there for Bitcoin to do something extraordinary something we haven’t seen it do before but right now the consolidation that’s taking place all the answers lie within this consolidation all the answers lie within these these pullbacks to bitcoin moving average resistance areas and what

Happens even in the hours ahead on the current daily candle all the answers lie within this upper trend line area of support will that continue to hold right around 40 $39,000 or so and there can be a lot of volatility and we might not get the confirmations we want for quite some

Time as Bitcoin just does its thing so these are some things of monitoring everybody the charts are incredibly exciting you have things like uh Ada testing moving averages on its own daily ethereum testing moving averages avac testing in between its moving averages no clear answers just yet I’m being

Cautious but again at the end of the day just exciting charts to watch so let me know your thoughts in the comments below everybody what do you think is going to happen next hit the Subscribe hit the like turn notifications on I will see you all in the next video God bless