Proof The Bitcoin And Crypto Bears Are About To Get DESTROYED!

In this video, Noah talks about the current state of the bitcoin and crypto market and how much trouble the bears are in.

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Hey everybody good morning this is cryptos RS plus and my name is Noah in today’s video I want to discuss whether or not the Bitcoin Bears have officially been proven Wrong today’s video is a companion to the holders Herald newsletter if you are interested in signing up for the newsletter you can do so by clicking on a link in the description below okay with that said let’s get started last week I pointed out a few issues with the

Bitcoin chart suggesting that there could be more downside on the charts by the end of February however as we go through the chart you will notice that many of these bearish indicators have now disappeared for example on the monthly chart my concern was a lack of expansion on the monthly candles as we

Ended up with an indecisive dogee candle for the month of January however so far in February the monthly candle has expanded from 42,000 all the way up to 47,000 almost reaching last month’s high in order for the monthly chart to maintain its bullishness I would like to see the February candle close without

Giving up all of the month’s gain like it did last month in January as long as Bitcoin closes a monthly candle above 44k or so the monthly candle will remain bullish for Bears to get any form of traction they will obviously want to push this candle down below this 44k

Level zooming in on the weekly chart you can see that Bitcoin made even more significant technical progress last week I pointed out a significant level of resistance here at 437 which is a critical level for Bitcoin to close a weekly candle above by Sunday afternoon over the past several days bitcoin’s

Price exploded past this resistance level and as long as Bitcoin is able to close this candle above 47.3k it will be an improvement on last week’s candle close zooming in on the daily chart you can see how close Bitcoin is the surpassing its previous yearly high at $49,000 again for Bitcoin

To maintain bullish Market structure here all that is required is a weekly candle close above 437 which looks very likely to happen as of Saturday morning bitcoin’s recent rally has resulted in a significant uptick in the Bitcoin dominance chart Bitcoin dominance measures the relative market share of Bitcoin compared to all other

Cryptocurrencies combined Bitcoin dominance has now flipped this former resistance level into support and reclaimed its 200 daily moving average also as support suggesting that this chart could go as high as 60% over the next several weeks moving on to the ethereum Chart you can see that ethereum

Has also just broken above a key resistance level heading into the weekend on the daily chart ethereum has just broken above resistance at 2,400 a level that it recently rejected off of three times going back to late 2023 not only is ethereum breaking out from a technical perspective but there are also

Several fundamental Catalyst right around the corner for example ethereum’s next major upgrade which will reduce transaction fees for layer 2 projects is now scheduled to go live on mayet March 13th which is only 1 month away additionally although the SEC recently delayed yet another ethereum ETF application and approval is expected at

Some point in 2024 just a couple days ago Arc 21 shares refiled their spot ethereum ETF application with the request to stake their ethereum with a third party if ethereum is able to close daily and weekly candles above this key resistance level it could continue to follow salana like we originally plotted

Out over the past year salana broke out of a massive ascending triangle pattern transitioned from this pattern into a completed bull flag and then broke out of a bull flag shooting all the way up to its 2024 high of 127 checking in on the ethereum chart you can see the same

Pattern repeating where ethereum broke out of an ascending triangle pattern and is now in the early stages of forming a bull flag pattern which could eventually send its price all the way up to test its previous 20121 highs all the way up at $5,000 chain link is another chart

That is on the verge of a significant breakout chain link is one of my favorite charts in the entire industry because of how clean the structure is during the bare market chain link printed a picture perfect accumul ation phase here between $5 and $8 providing everybody with a prime opportunity to

Accumulate since breaking out at $9 chain link then formed a bullish consolidation pattern just under resistance before breaking through just last week moving forward chain link structure remains bullish as long as it can hold the top of this 3month range as support if it pulls back into the

$617 range injective is another chart that has just bounced off a critical technical level within the past week or so following consecutive bull flag bull penet patterns which sent injective price up by almost 3,000% in 2023 injective is now attempting to hold this key support level at about $30 in my

Opinion injectives chart is not in danger of bearish price action unless daily and weekly candles start to close below this $30 level salana is also showing signs of breaking higher Following last week’s technical Revival for the crypto Market if salana is able to break out here and put in a new high

Its next level of resistance will be here around 140 which could be sana’s next destination the premier meme coin on salana Bon is holding up at support in this box following four tests of this level in my opinion Bon has to hold this level as support in order to protect itself

Against the possibility of visiting this lower box here which is almost 50% lower one more altcoin chart for consideration is Celestia which is in the process of forming a potential double top pattern which would be bearish for the price however if Celestia is able to close daily or weekly candles above the high

At $20 the pattern is invalidated and it is likely to break out even higher overall although things looked Bleak last week bitcoin’s technical situation has improved significantly over the past several days and it is now positioned to head much higher as long as the daily and weekly candles continue to close

Above these key technical levels most critically 43,700 on the Bitcoin weekly chart if you like the information presented in today’s video please consider signing up for the cryptos RS patreon for more in-depth analysis additionally if you are interested in trading you can do so On tapit Again by visiting a link in the

Description below other than that I hope everybody has a great weekend and I will see you back here next week for more charts and Analysis thanks for watching everybody