BITCOIN 5 Days Left! CARDANO Holders MUST Pace Yourself!

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In this video, I analyze the current Bitcoin market, emphasizing its seemingly boring but crucial sideways consolidation within a specific range, highlighted as critical for Bitcoin’s future. I explore the significance of the upcoming weekly candle closure within a key Fibonacci retracement zone, suggesting it could signal the start of a significant bull run if it closes positively. I also examine Bitcoin’s momentum oscillators for potential bearish divergence, indicating caution. Additionally, I discuss the impact of diminishing returns on altcoins like Cardano (ADA), predicting their potential growth and the importance of understanding crypto taxes, highlighting Coin Ledger’s utility for tax preparation.

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Intro 00:00
Bitcoin hourly chart weirdly important 1:10
Why next 5 days are so important 1:35
Bitcoin momentum 3:45
Concern on Bitcoin 5:05
Bitcoin dip? 6:00
If Bitcoin bulls win this week 7:30
Coinledger 8:30
Cardano diminishing returns 11:50
Realistic ADA bull market gains 13:00
Cardano momentum 15:45
ADA holders pace yourself 17:40

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This is Bitcoin zoomed in on the hourly chart in a very just sideways kind of consolidation right now it’s it’s a very boring move in terms of Bitcoin throughout the history of Bitcoin the move that we see here extremely boring but this range this green rectangle that

You see it trading within makes it the most compelling important move that Bitcoin has ever made truly throughout all the cycles of crypto because this cycle we are trying to distinguish whether or not Bitcoin is about to do something extraordinary something it’s never done before so literally on this

Hourly chart that is so boring inside ways what you see Happening Here means everything and what happens in the next five days on this on this weekly chart zoomed out is incredibly important for Bitcoin I want to break break it all down in this video adaa on the zoomed

Out I want to put some things into perspective in terms of where Ada is on these charts what might be ahead in this next Bull Run as it pertains to bitcoin and this next Bull cycle as well as the rest of crypto so hit the Subscribe hit

The like and let’s jump into the video so obviously I I started on the on the zoomed in hourly because I was just thinking like this is insane this is a a very small range you know 4% range not even 4% hourly chart kind of sideways wondering what’s going to

Happen and this is what it looks like on the zoomed out weekly so I want what I want to talk about on the zoomed out weekly is number number one let me just point out why this is the next 5 days are so important what happens with this

Weekly candle it’s everything and as many of you know it has everything to do with the bull market doors that is the Fibonacci retracement from a bull market High to Bare Market low I’ve talked about this area non-stop Bitcoin is above the 618 area now if Bitcoin closes this weekly candle

In this green area this will be the move that Bitcoin makes every cycle past to Kickstart the parabolic move post Bitcoin having not before Bitcoin having so here’s a weekly candle last cycle that’s what it looked like notice the notice the rejection a weekly Wick going into it that wasn’t it but that

Weekly candle right there closing and I want to dissect the momentum of these moves too and this is really what I want to show you but you can see going back two cycles ago here’s the weekly candle closing huge retracement huge retest of the 618 but still there’s the weekly

Candle closing in the in the range post having and then you go all the way back here to even 201 uh3 there’s the weekly candle closing within the Fibonacci area so zoomed out you can see how the next five days and how this weekly candle closes within this this Fibonacci bull

Market door area is pretty important at least for somebody does technical analysis this is incredibly important to me to see what happens I want to say this I want Bitcoin so bad to close even more powerfully than where it is right now I want it just to keep going right

Now in the next 5 days and close powerfully within the middle of this bull market door area but just looking at this I could visualize very easily I’m going to show you on a momentum oscillator how this could be a concern I could visualize how Bitcoin just starts

Trending down in the next few days and Bitcoin closes below the 618 area and we don’t get a weekly close within or above the 61 618 bull market door entry area and and we have kind of this very big wick of resistance could you imagine and

Then there’s what is in play is the consolidation going into having and we we haven’t broken into those doors yet what I want to show you is on the momentum oscillators this is a real big reason why I did this video I circled on the RSI the slower moving momentum

Oscillator I circled every time Bitcoin has closed that first weekly candle that we just looked at right on these charts so for for instance the last cycle you can see Bitcoin closing that first weekly candle within that huge bull market door area I circled on the RSI

Where it was let me make a point look at when Bitcoin is just getting started right we’re talking about there are so many gains in store for Bitcoin and altcoins at this moment bitcoin’s overbought when that’s happening so just make note of that but this is generally where it was last

Cycle right there and then we go to the cycle before that when it was breaking those bull market doors it was right here to the upside right around 80 or so on the RSI to the upside when it’s breaking the doors overbought look it all the way back here in

2013 extremely overbought around 90 on the RSI and just to give you an idea if I go all the way back there and we look at those doors being broken check it out bitcoin’s absolutely going crazy parabolic all the way back then so now the point of me doing that is to say

Okay where are we this cycle around right if we look at bitcoin’s breaking those bull market doors right now and if we get that first weekly close within that Fibonacci retracement area the 618 up to the 786 well right now Bitcoin is in a very similar area right so that’s

Not any concern Bitcoin is a little bit overbought but that’s where it’s been in these past uh Cycles as it’s entering the doors here’s where there might be a little bit of a concern check out on this weekly chart what’s happening though with this current RSI

Move it’s not the first RSI move into overbought that would make sense compared to previous Cycles it’s that first move into overbought right going back it’s that first move into overbought it’s not that right now we’ve had a overbought move came back down and then right now bitcoin’s actually

Putting in and this is where the concern might be and I I I I use the word caution a lot I’m not just some perm that just is going to keep giving bullish outlooks I’m also not bearish I’m extremely bullish even if Bitcoin retraces but I like to be realistic in

What the data is showing us there is bearish Divergence on the weekly it’s not the most popular topic of conversation but that just is what it is from a technical analysis perspective if we’re looking at the data and putting aside hopei and emotion that just is

What it is so we have a little bit of a bearish Divergence momentum fizzling on bitcoin we need a power move for Bitcoin in the next 5 days uh because if this is the case if if Bitcoin on the momentum o stalls out here and starts falling this

Could be the case for this weekly candle to close below the 618 area just around 48,000 and start making the move to at the very least test a 20we moving average it’s down around 39,000 right now sounds crazy and that that could mean Bitcoin sideways and the the 20

20we moving average pulls into Bitcoin it could mean a really harsh dip into the 20we moving average but remember when we’re getting this separation above these moving averages we’re always anticipating these moves back to the downside and as we’ve mentioned time and time again preh having that move would

Be very common in terms of what Bitcoin has done in Cycle’s past before the having and then after the having that’s when the doors get broken I’m not saying that to say that’s what’s going to happen but I did want to point that concern out in terms of where Bitcoin is

From a momentum oscillator perspective there’s a little bit of a bearish Divergence happening on the Bitcoin charts but needless to say if Bitcoin pumps up that energy there’s five days left on this weekly RSI five days left on the on the weekly candle Bitcoin pumps pumps in that energy to the upside

We’re cruising on up towards 50 and above this you’ll see a pop to the upside here get rid of that bearish Divergence and right now if that Weekly candle closes within this Fibonacci retracement would actually be just monu just a Monumental move for Bitcoin it would be a first something it’s never

Done and pretty incredible to think about the fact that on the hourly chart the the Bulls and the Bears are fighting here this is where this is taking place Bitcoin needs to stay above the lower uh trend line here of this Fibonacci bull market door area so that’s Bitcoin I

Wanted to point that out that’s what I’m watching for the next five days obviously maybe in the next couple days we’ll do shorter term technical analysis to see what’s going on with Bitcoin but that’s Bitcoin and the Really meaningful story of those bull market doers everybody before we hop over to Ada and

Look at those crazy Ada weekly charts and zoom out in the story there shout out to coin Ledger today’s sponsor as you all know they’re sponsoring CCV that especially this this tax season everybody is we’re preparing for this next speculative Bull Run getting your crypto taxes in in line right now so

Important I was just I was messing around with numbers earlier trying to see where I am where I was for 202 3 what 2024 could look like what gains could look like trying to plan a plan and that’s a video that’s for another video exit plans exit strategies all

That good stuff but real briefly in this video I wanted to show you something kind of an illustration this is our demo account back in uh coin Ledger if I scroll over here you can kind of get a sense of what’s going on there you see capital gain short-term long-term it

Shows your the shows you the total if you look at the negative 151 right there I mean we’re looking at maybe potentially some tax loss harvesting going on there in this demo account right but it breaks down every transaction and tells you why tells you

How but just going back if we go back to the previous screen and um here let me go to transactions go to tax reports let’s go into staking right $82 but I just want you to visualize this for a moment if you’re if you’re staking right for instance this first transaction

There’s Ada Ada stake rewards right price acquired at 38 cents the market value considering it was. 21 Ada was 8 cents forget for a moment the amount but consider that one single that one single reward staking reward and then look at the next one salana salana there’s Ada

There’s salana a bunch of them and then just scroll look at all these imagine for a moment just doing this yourself figuring this out yourself or take a couple wallet addresses paste them over here in the coin Ledger account under wallet whether it’s metamask cardano wallet and boom it

Imports it all and breaks it all down just like we saw in the tax report and you have your tax report it’s ready to go that’s coin Ledger that’s staking think about exchanges exchange transactions the hundreds if not thousands of transactions that you might have to track imagine having to track

That yourself as opposed to just clicking clicking some buttons in here and it’s done it’s compiled and you’re doing things properly and you really know where your situation is I can’t tell you enough when you start zooming out on these charts and you start trying

To consider man what is next in terms of my play in crypto what’s an Exit Plan look like what it what it take profits look like understanding taxes it’s critical it’s critical so sign up with the link below use a CCV link the CCV code uh get

Get a discount with my code and just get set up everybody if you want to go to the website click their testimonials page a ton of testimonials just read what people are saying so thanks coin Ledger for sponsoring today’s video Let’s pivot to Ada what I want to talk about with Ada is

This okay there there’s this thing in terms of cardano and all altcoins and even Bitcoin every cycle there will be a little bit a little bit less volatility we’ve seen it with Bitcoin right Bitcoin gets diminishing returns every cycle less and less returns every cycle ethereum same thing cardano next in line

Right so in terms of gains for something like cardano versus ethereum this cycle cardano is probably likely going to see a lot more gains but newer coins will’ll likely see more gains than cardano what I wanted to point out in terms of the cardano chart is this I think this is I

Think this is very helpful for a couple of reasons if we look at the move and this move by the way let me go to the daily chart this move right now that we’ve been comparing the technical move for for Ada you just see the swing high and then we’re consolidating right now

So similar to what happened here swing high consolidating but just look at the setups really just starting to look so familiar so I wanted to point something out as we’re sitting here we’re waiting for certain indicators to go off we’re waiting for for Ada to see if we can

Break break back Above This previous swing high that we saw around 65 cents I wanted to point out the fact that if you just look at let’s let’s for a moment and this will illustrate the point perfectly let’s for a moment visualize that the move is the same right so the

Swing high now is the same as the swing high back here and we’re in a very similar consolidation notice when the consolidation happened last time is 55% to the downside that’s a perfect example of the type of volatility that we’d see in a consolidation move like that but fast forward a full cycle

And we’re in a very similar technical move and right now we’ve Consolidated to the downside this puts into perfect perspective the volatility of it all 33% 34% to the downside do you see that so 55% volatility downside last cycle and check out how Ada has matured and

Volatility has slowed down just a little still 34% but now apply this to the next Bull cycle from the moment of consolidation right before the bull old doors were broken on bitcoin and even we can say cardano from that moment of consolidation back here to the swing

High we’re looking at I mean just I mean around 4,000% are we going to see from the swing low that we just had 4,000% gains I will say right off the bat I don’t think so not this cycle I don’t think a is about to see four 4,000% gains let me

Show you what that would look like 4,000% gains for Ada from that previous swing low if we repeated the the move we did last time would be a $18 Ada I don’t think I’ve ever said this cycle we would see an $18 Ada I talk a lot about the

Possibility of a $10 Ada that’s a 350 $350 billion market cap that is a market cap of less than what ethereum hit last cycle I think this is entirely realistic for Ada I still haven’t done a price prediction video but I think it’s realistic and we’re looking at $10 Ada

That’s okay compared to last cycle it’s 2100% so 4,000% or so 3900 4,000% last cycle 2100% this cycle I think if you’re even if you’re new to crypto you maybe you don’t even like Ada but you’re happening to watch this video this is a very important thing to understand the

The diminishing returns you can’t just take cycle after cycle and be like man boom we saw 4,000 last cycle we’re going to see 4,000 this cycle and then 4,000 it’s a it’s diminishing every cycle so 2,000% return for something like Ada very much in play right now from and

That’s from this previous swing low right if you take it from the the bare Market low total would be over 4,000% gains so ton of opportunity in Ada there has been obviously but that’s Ada on the weekly and then one thing I wanted to

Point out is and this is kind of just in general in terms of the analysis that we’ve been doing comparing these two moves right is is the macd I wanted to point out the macd check out how the Mac D on Ada just as powerful move to the

Upside right macd line the signal line just trending up right below it all before having right so this is another indicator that says you know what it’s very similar to that move post having last time because look finally the macd made its way above the zero line the

Histogram just looking real nice and if we just look at once again the move this is what it looks like check it out on the chart boom right so on that Mac see if I can open up just a little boom powerfully above zero on the histogram and then there’s that moment

Of consolidation you see this red on the macd that histogram right there it’s kind of where we are right now it’s kind of like what kind of red what kind of sideways consolidation are we going to get right now and that’s what I’m watching for right now I’m very curious to

See was that the swing low of this consolidation or is Ada going to continue sideways consolidating down maybe even a little bit more needing once again to hit the 20 week maybe in between the 50 and the 20 very similar to what it did back here just sideways sideways and up right but

Some red red weekly candles in there is that what’s setting up for Ada right now just just consolidating hobbling around and and will that just kind of make itself known on this macd right so similar looking just cooling down that we had last time starting to happen now

You can already see the histogram starting to Trend down so if this continues there’s obviously the next move would be if this histogram continues the next move would be a red histogram momentarily that could be the consolidation that we’re we’re preparing for for Ada I’m not always just going to

Sit here everybody and I actually Mo I I feel like most of the time I’m just talking about caution and preparing for downside because that’s where my head is always at I’m always cautiously optimistic obviously I know what I think is in store for this B bu run but when

Looking at historical data and being like you know what we’re already ahead of the game we’re already ahead of the game with this move I don’t want to get ahead of myself and be like we’re ready we’re ready for takeoff right now a dollar before having because even back then this was some

Sideways trading as Bitcoin was trying to break those doors we could be involved in some sideways trading right now for Ada I’d like to be realistic about that so those are just some thoughts I had in terms of ADA zoomed out I think it’s some good perspective I

Like to just Pace myself when when watching these markets as much as I just want AA to do something ridiculous I want crypto to go parabolic now I have to remind myself you know what this move happening is earlier than it happened last time happened last time

Post having right now it’s before having there’s room for consolidation anyway even if we were posst having so Pace myself that’s that’s where my head’s at right now let me know your thoughts everybody I appreciate you watching I appreciate all of you if you’re not a subscriber please hit the Subscribe hit

The like I’ll see you in the next video God bless