BITCOIN Breaks $1 Trillion! All Time High Indicator TRIGGERED!

In this video, I discuss the significant milestone Bitcoin has reached by approaching a $52,000 value and breaking a trillion-dollar market cap, emphasizing the importance of these milestones in the cryptocurrency market. I delve into the weekly chart’s impressive performance, with a focus on two key indicators hinting at a potential all-time high in the near future: the on-balance volume indicator and cycle data. I also highlight the importance of Bitcoin breaking through a critical resistance area known as the bull market doors, a development that could signal the start of a bullish trend. Additionally, I share insights into short-term price movements and potential resistance areas, pointing out the importance of the current weekly candle’s movement and its implications for market momentum. I mention an interesting post suggesting that Bitcoin’s two-month on-balance volume reaching new highs could indicate an all-time high within two months, aligning with my analysis of monthly candle closures above the bull market doors predicting a similar timeline for breaking all-time highs. Lastly, I touch upon the significance of these developments occurring before the Bitcoin halving, the potential for a powerful bullish phase, and the importance of cautious optimism in the crypto market.

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Intro 00:00
Big weekly candle 00:55
A lot of room for upside 3:15
Two all time high indicators 4:25
Bitcoin targets 6:35

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Wow how much can happen overnight Bitcoin right now in this weekly chart trying to approach $52,000 right now everybody Bitcoin has broken a trillion doll market cap a huge milestone not the first time this has happened but a huge milestone just as two trillion will be a big milestone

Five trillion will be a big milestone this all happening right now this weekly candle looking incredible so far still 4 days 11 hours we need to break it down two other indicators I want to talk about two kind of hints on these Bitcoin charts suggesting the all-time high

Could be sooner than later one here I want to go over this is on balance volume indicator and another here just in terms of cycle data both of these things kind of coming together and I I also want to just zoom in on the charts talk about the price move of Bitcoin

Right now what to potentially anticipate today and the the shorter term so hit the Subscribe hit the like let’s jump into the video this is Bitcoin on the weekly this is such a powerful move this is such an important move yall know we’ve been tracking the bull market doors and very

Simply everybody it’s a lower high Fibonacci it’s a it’s a resistance area the bull market High to Bare Market low on the Fibonacci it’s the green rectangle that you see there it’s a resistance area that’s the area where we want to see Bitcoin break that’s the that’s the bullish confirmation Cycles

Pass Bitcoin has broken that after the Bitcoin having right now Bitcoin is is breaking into those doors sooner than it’s ever done on this weekly chart whether or not we close above will be very very telling but I will say this we talked about this in yesterday’s video

And I really want to start here the weekly candle getting a continued move this week 4 days 11 hours there A lot can happen this is crypto a lot can happen but 4 days 11 hours left Bitcoin finally getting separation from the 618 area and that’s what we want to see we

Want to see separation bitcoin’s approaching the middle of the this Fibonacci res resistance the middle of the bull market doors the 618 down here around 48 and the 786 up here around 57 now the reason why this this move the continued move that’s happening even right now is important we talked about

This in yesterday’s video it is as you as you can see Bitcoin on the price chart obviously right now putting in a a higher high on the momentum oscillator and this was the concern on the momentum oscillator from the swing high back here right on the RSI slower moving

Momentum oscillator to where it is right now you see a lower high so the potential risk of bearish Divergence playing out the slowing of momentum as bitcoin price has been rising so we really want to see the continued powerful move of Bitcoin on the weekly to really really kind of erase that

Bullish that bearish Divergence that we potentially see there on that chart now the good thing if we look at the weekly chart and let me change weeklys the good thing in terms of not just the RSI and the potential for that bearish Divergence we have four days left of the

Of the weekly candle I want to point something out to you if you go look at a stock RSI quicker moving momentum oscillator it’s just bouncing out of oversold there is a ton of room for upside on the stock RSI there is a lot of room on this weekly chart for Bitcoin

To continue to the upside if we go back and I don’t have it charted perfectly but right here November 2020 that that’s Bitcoin breaking the bull market doors last time that move that you see there is extremely similar to the move that’s playing out right here breaking into

Those bull market doors and what I want to point out to you is where the RSI was at that moment right so RSI was all the way up here the stock RSI quicker moving momentum oscillator overbought breaking those doors and even still look how much

Upside on the weekly this is a weekly so we have to be very careful it’s just saying you know what man a a weekly momentum oscillator is overbought it’s time to consolidate Bitcoin when it enters parabolic phase RS rsis move differently so this one not only is it not overbought ton of

Room to the upside wanted to point that out now before we dive into the charts and dig into the very short term and talk about even a short-term Target to the upside I do want to start here this is uh a a a post that was just sent to

Me by a buddy it says it’s interesting bitcoin’s TW month on balance volume is at new highs historically it mean it meant a new all-time high was no more than two months away and a top was 6 to 10 6 to 10 months away so check this out

What’s so interesting about this is another piece of data kind of coming into play and and confluent with something I’ve been tracking and this is what I’ve been tracking I posted this the other day a couple days ago every time since 2013 Bitcoin has closed a monthly candle above the bull market

Doors Bitcoin has broken all-time highs within 1 to 3 months so this piece of data that I’m talking about if it triggers I’m I’m looking at one to three months alltime High his piece of data no more than two months almost almost identical time frames breaking the doors

This cycle means Bitcoin closing Above $57,000 This has always occurred after Bitcoin having and and just to give you a sense this is the move we’re talking about for for this monthly chart right here that upper yellow trend line around 57,000 the monthly chart closing above that area prior to having potentially in

Play but just very interesting to see now another piece of another piece of data Li lining up suggesting very similar time frames of of alltime highs we we really might be seeing Bitcoin do do this something it’s never done before so what does that mean on this chart one

To two months well this is a weekly let’s go back to the monthly just check it out I mean right now we’re mid-February right so then we have March then we have April the month of the having could Bitcoin be testing all-time highs the month of the having could we

Get a little bit of a retracement in April the month of the having and still get that all-time high hit right in in maybe May with a crazy monthly candle I have no idea how this is going to play out but what I do know is all of the

Data is very bullish for Bitcoin right now and very bullish for crypto markets right now so let’s let’s pivot now and let’s talk about the shorter term on the shorter term we can even use a weekly to kind of just talk about the story that’s playing out because there’s a couple

Major targets in play that tie into everything we’re discussing right now we have the falling wedge which is the falling wedge that has this swing High all the way back in November 2021 the bull market high falling wedge broke out of the upper trend line back in January

2023 over a year ago just to give you a sense of how long macro targets take to get hit we are almost finally at this target $55,000 and we’re talking everybody we’re talking like look at this six to 7% away from hitting that Target Bitcoin is is right

There that’s a move away now that plays into the shorter term what we might anticipate if we’re looking at the daily Maybe if Bitcoin continues this move to the upside where there could be some resistance obviously we have 786 bull market door resistance right above there around 57,000 but this range 55,000 to

Let’s say 57,000 huge resistance area for Bitcoin bitcoin’s very close to this area that’s what I’ll be watching if there’s any continued move to the upside what Bitcoin does how it interacts I would not be surprised if Bitcoin just gets rejected on The Daily I would not

Be surprised maybe even comes back down to the 618 to test that 618 support we can talk about that now since we have some separation around 48,000 just over $48,000 the other Target to the upside could truly play into the the the all-time highs being broken is this

$70,000 out of the rising wedge which the upper trend line extends back to the summer of 2022 Rising wedge breakout we just saw pretty recently in November we had a nice revisit to the upper trend line and right now we’re continuing the move to the upside the story unfolds there could

Be a lot of volatility along the way again it’s a macro pattern as well this could take a little bit of time but you can see how this could play out and maybe that Target gets hit maybe that Target gets hit all within the time frame that we looked at here one to

Three months after breaking the bull market doors two months uh after this unbalance volume indicator triggered in terms of this post the charts they’re looking crazy everybody they’re they’re just looking really good I will say this probably should have led with it often times we find ourselves in

Crazy bullish environments and it’s just like man we are we’ve made it and from Cycles past that is easier to believe after after having the fact that this is happening before having it could be truly truly something something special a power powerful move for Bitcoin but there’s always I would say

It’s always a good idea to have caution to have caution because again I’m waiting to see how this weekly candle closes I’m I’m cautiously optimistic but tracking it nonetheless so let me know your thoughts in the comments below everybody I hope you’re doing well having a good start to your day hit the

Subscribe if you’re not a subscriber please turn notifications on as we track crypto markets the bull market that is getting ready to begin the the parabolic bull market many many think we’re in the bull market I’m talking about that parabolic bull market and smash that like button for me I appreciate all of

You I’ll see you in the next video God bless