Thank you for taking the time to watch. If you want to support these videos, you can do so by following this link. Tips and Donations towards my work through PayPal:
https://www.paypal.com/donate/?hosted_button_id=G8LEYJT6BYJ32
The donation page is called the Chart Pattern Trader, which is my other channel. So don’t worry about the name on the page. It’s me!!! PayPal is secure, safe and easy to use.
Your support enables me to bring you amazing information and content each and everyday. Information you’re not going to get anywhere else. It takes hours of study each day and several hours to produce and process the videos. Your donation enables me to do this full-time for you!, It helps off set the enormous amount of time and costs it takes in producing, editing and publishing high-quality videos. So follow the link to the donation page below if this is something you want to do. I want to thank you for your generosity in supporting my work. See the link below:
https://www.paypal.com/donate/?hosted_button_id=G8LEYJT6BYJ32
—————————————————————————————————————————————————
BTC, Bitcoin news, Bitcoin news today, crypto, crypto news, crypto news today, cryptocurrency, cryptocurrency for beginners, Bitcoin Crash, Bitcoin Bear market, Bitcoin bull market, crypto crash, crypto coins, Bitcoin technical analysis, Bitcoin Price prediction, BTC price prediction, BTC price, Bitcoin price, Bitcoin 100K, Bitcoin 75K, Bitcoin 150K, Bitcoin moon, #bitcoin #btc #bicoinnews #bitcoin
ETH Etherum
Disclaimer:
The content of all videos produced by this channel are for educational purposes only. All ideas, opinions and/or forecasts are for informational purposes only and should not be construed as a recommendation to invest, trade, and/or speculate in the crypto market. Any investments made in light of these ideas, opinions, and/or forecasts, expressed or implied herein, are committed at your own risk. I am not an investment advisor, videos are for educational purposes only and not a recommendation to buy or sell any cryptocurrency at any time. This channel and its publishers are not liable for any investment decisions made by its viewers or subscribers, all videos are for educational purposes only. The author of this video does express certain opinions in the contents of this video, but will not assume any responsibility for the actions of any viewer who acts on this educational information. The author of this video may or may not hold positions in the financial instruments discussed in this video.Trading involves a high level of risk. Future results can be dramatically different from the opinions expressed herein. Past performance does not guarantee future performance. Consult an investment professional before investing.
Inspired by: lark davis, datadash, mmcypto, chico crypto, crypto annup, cryptosrus, jason pizzino, Alex Becker Channel, crypto kirby, crypto capital venture, crypto world, crypto university, alessio rastani, #bitcoin #btc #cryptonews
Now at the 100 day moving average I told you we got a bottoming chill that we’re going to get a rally back up we had a bullish falling wedge I talked about that at the time and we hit my support level at 38,000 told you we either going to get a
Low or high I’m correct about this being a top if I am not we’re going to go back up and we’re going to hit the Fibonacci retracement levels the resistance levels tag our 78.6 Fibonacci we’re just below that area if we attempt to reach it clear this area I’ll be showing you the
Resistance levels that are directly overhead know with this push higher has now turned back to bullish with critical mass mass cloud back to bullish showing now either going up or sideways my guess is we’re going sideways for a lower high or a higher high there’s a huge amount
Of resistance directly overhead say when the signal was bearish it was telling us we either going sideways or down but we’ve talked about how we’re in this trading range and we are going sideways so again is the move not yet done and we go a little bit above this area
Establish a lower high the signal is back to bullish if it flips back to bearish then again you’ve got your sideways move if it turns if it remains bullish can go higher if we uh have it remain bullish we’ll be watching the Fibonacci resistance levels that I’ll be
Talking about in this video the dollar has a negative correlation with Bitcoin and again the dollar bottomed and Bitcoin topped often times the dollar will bottom before Bitcoin tops dollar has broken out it’s now clearing and we had a breakout of the bull flag here we
Had a bull flag and we’ve had a breakout of this level the moving averages you got above the 200 you got above the uh 50 in the consolidation here and the 50 is still below the 200 but you now have the 10 and 20 above the 50 and they’re
Now clearing the 200 so again this is going to be a big problem for for Bitcoin going forward dollar and the 10-year treasury note yield rise Bitcoin will fall a negative correlation keep your eye on the dollar because the dollar monthly stochastic has turned bullish okay turning back up
Off of key horizontal support and again it’s very likely if we can clear the 20 period moving average we’re going to the 20 we uh monthly moving average I should say we’re going to attempt to go back up to test this high and to the upper end
Of the channel if we see that happened uh Bitcoin could fall throughout 2024 that way is a monthly chart bouncing off horizontal support but we hit this trend line right here from the bottom okay we hit it and we slightly violated it and then bounced off of uh these highs were pointing down
To the next low and we bounced off of this area so we’re seeing strength in the weekly time frame bouncing off this trend line now this past week the the macd in the weekly time frame is getting a bullish cross we had a bullish diversions form here and now it’s could
Be validating a higher low if the McD starts going positive that would be very very bearish uh for Bitcoin if the U weekly dollar macd gets back into positive territory when it did over here got into positive territory this happened and Bitcoin collapsed what I used to call the Bitcoin top back at
69,000 if we get another surge like that with it going into positive territory remaining there then that would hurt Bitcoin likely throughout 2024 very close attention to the dollar the dollar in the daily and the weekly and the monthly time frame all showing signs of strength for the dollar which
Could uh have a negative impact on Bitcoin now maybe it goes a little higher see continued strength in the dollar and again uh the uh cloud is turning bullish we’re bouncing off the trend line here we’re getting back above 50 we moving average the green line
Right there and that 200 in the daily so you’re seeing some strength with the dollar and I’ve talked to you about the diversion uh I was looking for a diversion to form we have one here it may be bigger though it may be that we start to sell off we might form one
Right here and then come down and and turn back up uh here going in next week like I said uh the way the top played out here that’s the way the bottom played out here just may confirm a lower high and not form a diversion it doesn’t
Have to form a diversion times you don’t if we get a lower high here is a channel that could be a bare flag right here if we push on up through this area clear this high right here uh then again showing you the Fibonacci resistance levels 78.6 Fibonacci of the entire
Decline just above the 50,000 area with our log scaling currently we’re kind of stalling at this trend line right here and again these highs right here connected to this High where we’ve overthrown it and got a topping tail just ever so slightly there we’re flirting with it right now getting a
Topping tail we may clear this level uh again it’s just an interesting level down over here these lows were pointing to the next low right here to about that these lows could be pointing to the next high we broke up through that level and now I’m watching these highs to see if
They’re pointing to the next High Times that works out sometimes it doesn’t it’s just trend lines of resistance uh that we should be watching have a diverence that’s developing here it may evolve into a much much bigger Divergence but we’ll be watching this over the next few
Days very good chance Bitcoin will Peak either with a lower high or a higher high at some point in the next few days like likely next week if we don’t get a topping Till by Sunday’s close please support the Channel with the link directly below that allows us
To be able to provide you this information the link will take you to a secured site you can donate any amount you want but please consider helping out today and I thank you for your consideration for that and as I said Bitcoin is likely finishing an ABC move which again if
This is not the top right here if this is not wave five then this will be and this is the peak of wave three so it would be 1 2 3 four five if we go higher to the upper end of the channel again or if this High holds then we’re getting a
Counter trend for a lower high for wave two that will be followed by a crash wave three uh again momentum has formed negative diversion with our Peak just as it did back at the Bitcoin top at 69,000 question now becomes do we get a lower
High for an ABC for two or do we get a push higher and wave five is not done and a five leg structure of wave C for this Red Wave B which would be a 535 pattern with the Elliot wave regardless my guess is we’re going to
Get a lower high but again we’re we’re closing in on that Peak and if we do then again the the the seawave never completed here but it’s going to complete uh just just a little bit higher at the levels that we’ll be looking at and I told you we’d be
Bouncing off the 100 period moving average and that was at 38,000 area and we did the move will not get a bigger drop until we drop below the 100 period moving average now whether that’s with a lower high or a higher high we’ll see what happens watch the 100 period moving
Average currently uh it’s just below 42,000 this is why I predicted that we would find support at the 38,000 area you had some support at 38,000 you had a bullish falling wedge and then we got a bottoming tail expected a rally the question is now do we get a lower high
Or do we get a higher high is wave C done is wave C done with 1 two 3 four five or is that three we had four and now we get five so that’s a $64,000 Question I told you the uh launching of the Bitcoin ETF would be buy the rumor
Sell the news and it was uh we’d be getting a rug pull we dropped 21.2% this rally if we do go higher and hit the upper Channel showing you the FIB channel the 78.6 Fibonacci and the resistance levels directly overhead should we try to clear 49,000 but again
Futures ETF Peak the very day before then it dropped 84% the coinbase IPO P Bitcoin Peak that day dropped 55% base dropped 92% recently called that uh top base coinbase to predict this rally as well because it was hitting major support coinbase and Bitcoin have a positive correlation pays to watch
Coinbase and then the Bitcoin Futures ETF back over here we peaked the day after but then turned down did not confirm the Candlestick and went slightly back up and I’ll be talking about that in this video something like that right here and right now or do we
Just get the lower high and go on our way but eventually I think we’re headed back to this 8 or 9,000 level these lows are pointing to the next the next low the bare Market is over this is the shortest or the the the weakest bare Market in bitcoin’s history this is a
Five leg structure lower bare markets were three leg structures so this is likely a continuation which will create a measured move extension to the downside of this move but here we have the launch uh and that’s why I predicted that we were going to get it the day the
Top the day of the Bitcoin launch of the spot Bitcoin ETFs here you had it before here you had it after the day after so I figured it was probably going to be like coinbase you were going to get it the day before and I told you if I was wrong
It would be the next day but again I could be wrong about that top and we could go hit the top again like we did over here again we went a little bit higher 3 weeks later we’ll be talking about later in this video we’re getting a rally on Saturday
With Bitcoin here we’re about few hours away from ending the session we’re up 1.64% yesterday we closed 4% higher on Friday uh hitting the upper Fibonacci resistance on the pit Pitchfork the expansion I’m watching this level as we broke through this level which is 78.6 Fibonacci of this
Decline I predicted a rally over here with the bottoming tail we hit the 100 period moving average guess is we’re going to get a lower high I believe this is the top wrong on that we have some levels just directly above 78.6 Fibonacci from the entire decline we’ve
Talked about at Great length in detail be interesting to see if if we clear this level which again you can you can’t overthrow it and if you do you have another level couple different levels just show you those resistance areas again here’s the Pitchfork going up rather than down again the other
Pitchfork is going down from the recent high this is going up from the low that marked the bottom the two lows that Mark the bottom taking this peak and this low and making the angle of ascent from this low right here so I’m using this high this low this low and
Again this is where we turned off of with the Fibonacci uh resistance levels if we go a little higher and hit the upper expansion boundary move towards our 78.6 Fibonacci let me bring this up close so you can see it we have the uh 78.6 Fibonacci at the 50, uh 330 area we
Have uh the upper channel uh just slightly above that at the 51 or 52,000 area depending on when we come into contact it with it it should we move Above This high right here so that’s a resistance levels Pitchfork here should we break above the declining Pitchfork
From our recent high that we just looked at just looking at these Fibonacci retracements and the 78.6 Fibonacci is the retracement we’re in the golden pocket uh right here between the 61.8 Fibonacci and the 78.6 Fibonacci the golden pocket uh from this entire decline from the peak over here to the
Low over here so again there’s Fibonacci resistance resistance uh in this area now that’s a log scaling that were’re just below the 78.6 Fibonacci this is the linear scaling here we hit the 61.8 Fibonacci just above it of this Decline and again we do move above this area
Again you’re moving into the golden pocket with the linear scaling Fibonacci resistance uh Channel with our price Channel again uh the parallel boundary the parallel Channel we hit it right on the nose we’re predicting that we get rejection right there at the 48 to 49,000 depending on
When it we came into contact with it should we move above that level my guess is we’re going to get a lower high and come down to the lower end of the channel and eventually try to break it but should we uh go higher possible because in the weekly time frame we have
Not confirmed the Candlestick we got a topping tail there was no confirmation no follow through we got it in the daily time frame but not in the weekly time frame you have to have a confirmation to get a reversal with candlesticks in technical analysis that’s the rule if you don’t get
Confirmation it doesn’t mean anything because we didn’t get confirmation in the weekly time frame for two weeks we predicted again we’d likely get the counter trend for lower high now I could be wrong about this because we didn’t get the confirmation bar in the weekly
Time frame and if we do go higher you get stiff resistance right up at the upper end of the parallel channel the FIB resistance one to one this Lake here and this Lake here being a measured move now we already have that done because we didn’t get confirmation
It may not be the the move may not be done we still may hit this level again my guess is we’re going to get a lower high but again I’m open-minded to it because I know that Weekly bars have to be confirmed the rally could be to suck
Everybody back in that’s what this rally is about that’s why I predicted it right here at the support level this is where the buyers have been coming in okay this is where the buyers have been at okay and we hit it right there okay 100 period moving average I’m a big believer
In the 100 period moving average we hit it we bounced off of it and we predicted a rally here we are we have the rally the question is the 64,000 our question is will we get a lower high will we get a lower high or a higher high and go up
Into the channel one more time that’s the question here with Bitcoin if we clear the um Fibonacci that I showed you from this high beginning of the video then this level here comes into play which is the upper end of our Channel now we’ve moved Above
This level right here this level is the 50% retracement the Fibonacci 50% retracement of the channel so we have a 1: one we have a 1: one and then we retrace 50% of the FIB Channel and now we’ve come back up got above uh We’ve bounced around the 61.0 Fibonacci we’ve
Gone now above the 78.6 Fibonacci that’s where we danced around previously when we went sideways until we got the one to one move in the upper boundary of the channel just want to show you these resistance levels because again we could dance around like we did over here at
The 78.6 Fibonacci and eventually come back and if you break the 61.8 FIB start moving into the lower end of the channel breaking the 50% retracement of the Fibonacci then you can come back to the lower boundary of the channel which eventually is going to happen we’re
Getting a rally right now so I wanted to show you this level again it’s a very important level should we clear the declining Pitchfork you have the rising Pitchfork Fibonacci you have the rising channel the rising FIB Channel with again resistance of the upper boundary
Of our Channel now if we hit this level previously we hit 49 if we hit this level here again you’re looking at coming in at the 501 or 52,000 level depending on when we came into contact with it should we continue and reach it within the near future so if I’m wrong
About the top being here it can do what Bitcoin did the top at the top in November of 2021 because there was no confirmation of the Candlestick in the weekly time frame at that time and it came down about 16% here we came down 21
And almost 21 1.2% and then it went up and it made a higher high and then that was it and it dropped 52% even if we rally further even if we go above this peak and my guess is we won’t but if we do and I’m wrong about that I expect that
52 52,000 the 78.6 Fibonacci is at 50,000 350 or so overthrow the 78.6 Fibonacci then you H have the upper boundary of the channel coming in around 51 or 52,000 depending on when we were to come into contact with it valy will likely end by next week the question is
Will we establish a low or high and come down here or will we go up here and then go down and again there’s stiff resistance over here not only this trend line but the trend line right here as I told you this trend line these lows are
Likely pointing to the next high just as these lows were pointing to the next high when I called the 60 the top at 69,000 here we’re pushing up into again resistance we’re we’re pushing up into towards we’re not there yet but towards the upper Channel but before the upper
Channel line you have the uh back test trend line the broken trend line right here which we”re now coming up to right now now which we’ve talked about this trend line possibly acting as a resistance often when you break a trend line you will retrace back to it so if
That trend line holds then again some of these Fibonacci resistance levels could hold as resistance if we go higher you have a direct resistance right in that low 50,000 area so again overthrow the 78.6 Fibonacci go back and revisit this trend line right here we can hit the
Upper channel line again of the FIB Channel which is this upper channel line right here which again the upper channel line is around the 51 to 52,000 area depending on when we come in contact with it the high the longer it takes to hit it if we do go there the higher the
Upper Channel goes to the right of the chart if we hit it within few days it’s around 51 or 52,000 which is in the same area of the Fibonacci expansion of this area here the Fibonacci expansion from this of this low the 1 and a 12% is right there
Again right around that 51 or 52,000 area just above our 78.6 Fibonacci at five 50,3 or so 350 rounding up thei resistance levels have acted as resistance with the linear chart on the 61.8 here and just below the 78.6 we still may hit the 78.6 so
That’s why I’m saying we still may get something like what we had over here where you dropped uh you know uh 16% or so and then three weeks later you went back up before the 52% drop but it’s also possible that we get the lower high scenario although
We’re right now at the 48,000 the peak was 49,000 over here uh we had less of a retracement after we had a three drives to a high you formed a head and shoulders you got a right shoulder and again then you drop 55% does form these Head and Shoulders maybe we go higher
And and then we get it afterwards okay and as possible down here we had an inverse head and shoulders so again Bitcoin does form these uh Head and Shoulder patterns and inverse Head and Shoulder patterns again our Fibonacci levels extremely important because again where sellers are going to be lurking
You make a lower high or a higher high again so you know the back test of the trend line right now the things that we’ve talked about but again at 78.6 fibon on the FIB Channel but if you go up higher you hit the upper boundary of the Pitchfork here and the 78.6
Fibonacci if you overthrow the 78.6 Fibonacci then you’ve got the channel here with the expansion and we still have the 1:1 FIB Channel which again we’re just straddling right now at the 78.6 Fibonacci just like we did over here do we do that it and then we turn
Down and get a lower high or do we go up and hit the upper Channel again if we do clear the 78.6 Fibonacci at the the the low 50 , 350 area or so 300 Area 51 52,000 Fibonacci resistance levels then come into play which are directly
Overhead above our 78.6 Fibonacci of the entire decline now if we Pierce through this is the weekly chart if we Pierce through this upper Peak right here then again it could be that you get a topping tail in this area that I’m talking about just above the 78.6 Fibonacci hit those
Levels or just uh slightly overthrow them but they are Fibonacci resistance levels now again we did not confirm this Candlestick this Candlestick has to be confirmed in order to act as a peak now again the topping tail a technical analysis is considered the top until proven otherwise if we go
Above it then again because this topping tail was not confirmed we never confirmed it for two weeks after you could still overthrow it candlesticks have to be confirmed to mean anything this Candlestick we had a topping tail we dropped 6% the day of the launch of
The Bitcoin uh uh spot ETFs then we dropped 10% the next day and we continue to drop two we for two weeks but we couldn’t close below that low we couldn’t close below it and again down here we predicted or at our support level 38,000 that we get a rebound
Because we formed a bullish falling wedge and hit our 100 period moving average so the question is do we now set up a lower high or do we go above this level like we did back in uh uh uh 2021 and late 2021 and let me just show you those
Real fast and again I talked about this previously uh sticks having to be confirmed over here at six we had the launch of the Bitcoin Futures ETF we dropped about 16% it did not get confirmed the Candlestick did not get confirmed and we turned back up and we
Slightly pierced Above This level and you topped out and then you dropped 52% so we could see something like that because the Candlestick did not get confirmed okay we had a similar situation over here where we had a uh topping tail but the topping tail didn’t produce really any kind of reversal the
Next weekly bar was a hanging man and that hanging man was not confirmed okay and then we got a bottomy tail here we went back up and we pierced up through this peak right here ever so slightly and then you got your big drop and that
Ended up setting up a uh Head and Shoulders showed you earlier on the daily chart and that topping tail was followed by a lower high it was followed with a confirmation the following week it was followed with or confirmation and then the follow through few weeks later
When we pushed through that level so the question right now is do we set up a lower high on bitcoin like right here if we’ve got the top tail and it’s peaked but again right here had a confirmation later you got the follow through we don’t have either on bitcoin right now
Or do you get something like this where again you go back up and go slightly higher and then you get the top here again no confirmation you go back up you go slightly higher here it was 3 weeks later we went to a higher high here it was about five weeks after this
Peak right here so a few weeks later in both of these situations you got a higher high so in our current situation uh is the topping tail up and we now get a lower home or do we get the higher high like here and the higher high like
Right here and it could happen because in technical analysis candlesticks have to be confirmed and we don’t have that to move to new High no we don’t have to move to new High there is stiff resistance but still didn’t tag the 78.6 Fibonacci and we still may do it and
Even overthrow it and hit the upper FIB uh Channel and hit FIB resistance nais act as support and resistance this is going of look like by Sunday’s close are we going to see a strong close or a weak close do we end up giving it back get a
Some kind of topping tail here and then next week do we exceed this level or do we do it before the weekend ends uh we’ll be watching to see do we get a lower high or a higher high of which way it plays out again the move is going to
Fail now for the launch of the Bitcoin uh ETFs I told you that again we were likely going to go up and hit this upper boundary the Pitchfork support now it’s going to be resistance well we never quite reached it and again we still May it’s directly overhead you may even
Overthrow it a bit we hit that upper FIB Channel around 51 or 52,000 we overthrow the 78.6 Fibonacci but again this is Major resistance just as it was Major support down here I wanted to show you the Fibonacci resistance levels that are directly overhead the 78.6 Fibonacci
Upper boundary of the Pitchfork of the entire decline should say our Fibonacci expansion of the Pitchfork Mark the bottom Pitchfork from the most recent high again resistance if we clear that then these other levels come into play 78.6 Fibonacci at 50,3 350 the upper boundary here of the
Channel the FIB Channel 51 or 52,000 whenever we uh or we would come into contact with it should we go that high and then our Fibonacci resistance again from these levels here near the lows again the 1 and a 12% Fibonacci directly overhead again 51 52,000 or so if we
Overthrow the 78.6 Fibonacci those are the resistance levels to be watching if we try to clear this level we’re challenging it right now but so far we have a lower high once we fedal up a lower high or hit the upper end of the channel we got to drop back below the 61
Point0 Fibonacci in order to get bigger move down and that would take out this low which is where we bounced off of here on the Pitchfork and our 50% retracement the FIB Channel Fibonacci the Fibonacci numbers act as support and resistance never did quite reach the
Upper boundary here will we do it here might reach it on the longer term down channel the Fork do get a bigger retracement these are the levels where sellers are going to be lurking