Bitcoin Ignited The Fuse! Cardano & Ethereum Set For Lift-Off!

In this video, I delve into the significance of a specific resistance area in Bitcoin’s price cycle, highlighting its role in signaling the start of a parabolic bull run for the entire crypto market once breached. I explore Bitcoin’s current positioning within this critical range and speculate on potential outcomes for its price as well as the impact on altcoins like Cardano and Ethereum. I also introduce the concept of a supply shock, underscored by the increasing demand for Bitcoin ETFs, which could exacerbate the supply shortage and fuel price increases as we approach the Bitcoin halving. Through a technical analysis, I examine the Fibonacci retracement levels known as the “bull market doors,” emphasizing their historical significance in past cycles and their potential implications for the current market. Additionally, I discuss the momentum oscillator and RSI levels, suggesting that despite Bitcoin’s significant progress through these ‘doors,’ there’s still considerable upside potential given its current non-overbought status. The video also covers the differing dynamics between Bitcoin and altcoins, noting that while some altcoins may appear to lag behind, they often follow Bitcoin’s lead, making significant gains once Bitcoin establishes a strong market position. I conclude by addressing the diminishing returns for altcoins in comparison to Bitcoin but highlight the substantial growth opportunities that still exist within this framework. The analysis aims to provide viewers with insights into the intricate relationship between Bitcoin’s market movements and the broader crypto market, encouraging them to watch for key indicators that could signal the next major market phase.

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Intro 00:00
Supply shock 00:40
Bitcoin bull doors quick recap 1:25
Bitcoin monthly momentum 2:10
Bitcoin halfway there 3:25
What kind of price action now? 4:00
Cardano & Ethereum are not lagging 6:15

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This is a picture of a multicycle resistance area that Bitcoin has to contend with every cycle and when Bitcoin breaks through this area has confirmed every cycle so far this parabolic bull run for all of crypto this is what it looks like on the Bitcoin daily chart in this video I want

To talk about what we might anticipate as Bitcoin trades within this range and in terms of altcoins like Ada ethereum what does this chart what do the bull market do have to do with what happens next on the zoomed out charts for Ada and ethereum that’s what we’re going to

Talk about in today’s video so hit the Subscribe hit the like let’s jump into the video I want to point something out I just came across this post yesterday Bitcoin ETFs are taking 10x more Bitcoin off the market can you say Supply shock Supply shock is what’s happening right

Now then are then are being minted daily if these inflows hold through the having then Bitcoin ETFs will be taking 20 times more off the the market than the daily mint the supply shock that is already starting to occur this this demand factor that starting to really

Play into these charts you see it on the Bitcoin daily we’ve seen it just the the buildup of it this could just speed up and so as we approach now the Bitcoin having which is right here this is getting heated I just wanted to point that out as we really dissect these

Charts and talk about where we are from from a macro perspective but I do want to talk about this move so the bull Market doers many of you are aware it’s very simply bull market High I just want to for anybody that’s new here bull market High to Bare Market low it’s this

Fibonacci retracement retracing back to this resistance area lower high area it’s the channel right there this is what it looks like on the daily chart right now as you know zoomed out in Cycles past Bitcoin has broken through the Bitcoin bull market doors after the havingsex thingly enough Bitcoin is is

Within those doors PR pre having now before we dissect the daily and talk about what kind of maybe may maybe kind of trading action to look for I want to point something out on the monthly chart because this is this is if we take into account the supply

Shock that we just discussed this is really cool if we look at the momentum oscillator and we and we zoom out and we look okay every time Bitcoin has broken those doors like for instance back here in December 2016 post the 2016 having if

We look at the RSI this is where the RSI was the slower moving momentum oscillator was in overbought we go to the 2012 having right after that when Bitcoin broke those doors where was the RSI quite overbought and if we go to even the last having 2020 having Bitcoin

Broke those bit bull market doors November 2020 many of you remember overbought every single time Bitcoin was at this level breaking the doors and overbought Bitcoin still had so much upside in play now check this out if you want to talk about how much upside is in

Play for Bitcoin right now bitcoin’s not even overbought and Bitcoin is halfway through the bull market doors this lower high multicycle Fibonacci retracement and it’s early this time it’s it’s prior to the having so that just gives you a sense of of The Upside in play going

Over to bitcoin on The Daily 18% is the range it’s around 18% range from the 618 to the 786 area and to give you an idea Bitcoin is basically as I do this video it’s basically halfway there right 8 to 9% just Wick to 9% it’s halfway through

The bull market doors but I started thinking you know that’s what it looks like get a glimpse of that it’s just pretty much up so far after breaking the 618 right around 48,000 I want to do this I want to zoom out just a bit we’re

On the same daily chart and I want to go to the last bull market doors of the last cycle right this was November 2020 look at the price action I think it’s I think it’s a good idea to dissect this a couple things I just want to note number

One is it broke the doors maybe five to 6% to the upside and then maybe 5% dip to test the 618 I want to just point that out the 618 was tested and then we continued to upside and then almost getting to the 786 Bitcoin on The Daily you can see

Dipped right and that dip by the way was around a 10% dip and there’s a couple red candles there so two days worth of oh man probably some doubt there right so again just to remind you what the chart is looking like right now in the

Day I’m going to scroll back over this is what it looks like right you can actually even see there was a quick wick on that one daily red candle to test the 618 area and right now you can see Bitcoin making move to upside this is to say there’s there’s room for downside

Through this range now whether it’s back to the 618 right around 48,000 whether we see a little bit more green and then we’re just kind of wicking back down maybe it’s sideways we have to see and wait to see how Bitcoin consolidates here because every cycle it kind of is different I

Want to just go back to the cycle before 2020 let’s go back to 2016 look at the volatility here Bitcoin actually broke above and out of the bull market doors quite quickly and then fell all the way back down very briefly below the 618 it’s important to watch now how Bitcoin

Interacts with the bull market doors we go one more cycle just because we’re we’re all the way back here this is pretty much the most parabolic move through the bull market doors you see the variety of all these of all of these moves right in this crucial area through this lower high

Fibonacci so the question is going to be how does Bitcoin this time around you know interact with the bull market doers you can see how it is so far nothing out of the ordinary but I think it’s a good idea to consider volatility is in play but noting one last time on

This monthly crazy to see how much momentum to the upside there is Bitcoin not even overbought right now so going over to Ada and ethereum I want to point something out we’re not going to do some crazy crazy shortterm technical analysis but I want to show you something there’s

Going to be a lot of talk especially as Bitcoin continues its move to the upside some altcoins are it’ll be specific altcoins not every altcoin but some altcoins are lagging some altcoins you know why is Bitcoin making that move through through that lower high Fibonacci and and Ada and ethereum and

Others aren’t why is why are all quins lagging Cycles passed in this R in this area around Bitcoin heav this is what happens but this is the last historically this is the last time Bitcoin sees this this dominance factor in play and real quick just want to go over to the Bitcoin

Dominance chart this is the last time the dominance factor for Bitcoin historically around the Bitcoin having has this last upside before really starting to go into this this bull cycle right now obviously this move of dominance it’s it’s a little bit after having but remember the move that’s

Happening right now is is prior to the having for Bitcoin this power move so what happens though historically zoomed out after having Bitcoin dominance Falls after having Bitcoin dominance Falls and what’s happening now Bitcoin dominance isn’t even that powerful we’re in this macro downtrend lower highs for Bitcoin

Dominance so even right now on this weekly chart since November October Bitcoin dominance not even making a really a power move Bitcoin having coming up altcoin season is getting ready to to approach so I wanted to point that out before just dissecting what we’re about to dissect and that is

This excuse me in terms of the bull market doors for these cryptos these altcoins the bull market doors are different for altcoins than they are for something like Bitcoin I don’t use the Fibonacci lower Highs but for the sake of giving you a very important illustration of how these Cycles work

With altcoins check this out these are the bull market doors if we were we were to use the Fibonacci retracement for for Ada right bull market doors kind of like up here in this in this green range up here last cycle around $111 to like 90 right now just notice when Bitcoin was

Breaking the bull market doors November 2020 that means that means actually back here that means Ada was 700% away from its own Fibonacci was a lagging I mean yeah in that regard from that indicator perspective it was lagging but that just illustrates what happened next Ada did break those doors

Right and it was just a parabolic move but this is exactly why I like to use the bull market doors for Bitcoin to really indicate what is about to get ready to happen on altcoins so that we’re not sitting around waiting and saying you know what let’s wait for the

Bull market doors for Ada right by that time a is breaking all-time highs practically you’re getting ready to break all-time highs you see this crazy Wick above a dollar in that last cycle but using the bull market doors for Bitcoin you can see how the Bitcoin bull market doors were leading indicator last

Cycle and it’s the same thing happening right now bitcoin’s in its own bull market doors it’s a leading indicator for Ada and if you go look at ethereum very similar but check out this this point of diminishing returns now for ethereum let’s let’s point something out last cycle when bitcoin’s breaking

The the bull market doors November 2020 ethereum still over 100% away from its own lower high Fibonacci this cycle around check it out as this is happening on bitcoin it’s only like 15 20% away look at that diminishing return and actually the same is true even on

Something like Ada we go over to Ada from where it is right now to its own lower high Fibonacci it’s around 200% so last cycle it was 700% away this cycle is 200% but those are some those are some nice gains in store for Ada just to

Even get to its lower high Fibonacci we’re not even talking about breaking alltime high and going into new highs and the same is with ethereum so my point being using the bull market doors for Bitcoin is one thing right it really signifies we know what happens next post havs historically there’s no

Guarantee it will happen again but historically we know what happens when these doors are broken Bitcoin makes a really nice move but it’s the leading indicator that we find within those bull market doors on bitcoin that says you know what altcoins although lagging right now and not breaking their own

Lower high Fibonacci they’re getting ready to make their own move moves right and and these all coins have different indicators I think that that Define their own bull market doors one for for Ada that I’ve been tracking is a lux algo indicator that I think I mentioned

On this channel before that that hasn’t triggered on the weekly I’ll talk about that in another video but there’s there’s certain things happening down here in altcoin uh in altcoin land that brings into play their own type of bull market doors so that’s why I don’t use

The lower high Fibonacci range as any type of bull market door confirmation for altcoins and you can see exactly why but the importance of the Bitcoin bull market doors I can’t highlight enough so wanted to point that out on these altcoin charts those are my thoughts on

Bitcoin and and altcoins today let me know your thoughts in the comments below everybody I appreciate you hope you’re having a good day so far let’s see how these markets move I’ll see you in the next video God bless