BITCOIN Price Just Made History! CARDANO At Brink Of BULL RUN!

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In this video, I discuss the current state of Bitcoin and ADA (Cardano) in the cryptocurrency market, focusing on their positions within the bull market cycle. I highlight a significant moment for Bitcoin, noting a weekly close that marks a historic event in the crypto space, emphasizing its implications for the future of Bitcoin and ADA. I delve into the technical analysis of both currencies, examining Bitcoin’s recent move and its potential impact on ADA’s position as it tests its own bull market thresholds. I also introduce the use of a volume profile indicator to analyze ADA’s market activity and discuss the potential for a breakout based on historical patterns and technical indicators. Additionally, I mention the sponsorship by Coin Ledger, a tool for simplifying crypto tax reporting, and how it integrates with the analysis. Throughout the video, I aim to provide insights into the short-term and long-term movements of Bitcoin and ADA, offering predictions based on technical analysis while acknowledging the speculative nature of the crypto market.

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Intro 00:00
Bitcoin weekly makes history 00:35
Bitcoin daily zoomed in targets 2:00
Coinledger 5:10
The Cardano bull market setup 7:30
Last ADA bull market data 9:40
Cardano breakout targets 10:20
ADA price resistance 13:05
If Cardano price fails here 15:05

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This is Bitcoin zoomed out on the weekly it’s looking nice from a cycle perspective but you start zooming in and you start saying you know what this move that’s actually happening right now halfway through the bull market doors looks a little bit sideways in the last

Few days or so but the move that just happened on the weekly we just got a weekly close historic moment for crypto I’ve been doing these videos for six years this is a first I want to break down what’s next for Bitcoin Ada zoomed in kind of on the daily at a critical

Moment as bitcoin’s breaking its bull Market doors Ada Believe It or Not testing its own knocking on the bull market doors hit the Subscribe hit the like let’s jump into the video I want to start here on the weekly for Bitcoin it’s it really is we’ve been talking

About it we’ve been waiting for it we got rejected at the 618 bull market doors back here in case you’re unaware of course I’m going to chart it for you swing high from a bull market to the bare Market swing low it’s just a Fibonacci retracement to the 618 to 786

Range huge resistance area but it is the bull market doors nonetheless because we break this area that’s a very big confirmation Cycles pass that’s been the case you zoom out on a weekly so the reason why the the weekly close that we just talked about we see the weekly

Candle right there we have a brand new one in formation right now very early the reason why it’s historic is because you zoom out on this chart and every time we can go to the last cycle for instance we get a weekly close in the range in the bull market

Doors it has led to that parabolic bull market right so that’s that last cycle you can go to the the cycle before that you can see right here weekly close it led to the parabolic bull and look at the I want to make note of the volatility that Bitcoin had in for a

Couple weeks before the the true takeoff but if we look at the move now and this is what it’s done Cy past what makes it historic is the fact that this move is happening before the Bitcoin having so that Supply shock as I talked about I think in yesterday’s videoos is truly

Happening before us and it’ll be very interesting now to see if we start zooming in on the daily how is Bitcoin going to interact so I real briefly I wanted to point out what just happened that move it it happened we got the weekly close I was a little concerned

For a moment if we look at the weekly candle it it wasn’t the biggest range right from the 618 line at the bottom to where Bitcoin closed as around 8% and it was starting to kind of come down a little bit right so it very well could

Have just balling in a matter of a day or two below this 618 and kind of putting in a rejection similar to here but we got that historic move and now we have a new weekly candle that of course will be tracking we start zooming in on

The daily now we can start kind of just saying you know what let’s watch to see if Bitcoin operates Within These bull market doors in a similar fashion to previous cycles and it it kind of moves in different ways throughout the Cycles but in general what we’re looking for at

Least what I’m looking for especially on the RSI would be how does bitco coin even if it’s going to retrace two things number one will it see support at the 618 that’s the new support that I’m watching the support at the 618 I want to see the 20 really get into that that

Fibonacci bull market door area and then obviously the 50 pulling up so I want to see real strong support start forming at 48,000 but that is to say Bitcoin could dip and we could be testing that area that’s something that would be normal but on the RSI I’m kind of just watching

To see can Bitcoin whatever consolidation does take place can it just kind of can it take place in the overbought area on the RSI and the reason I bring that up is because if we kind of zoom out on the chart and this is very zoomed out to give you a sense

Of of that RSI and how Bitcoin moved check out the last time Bitcoin broke the bull market doors there’s some red candles in there there’s some there’s some consolidation you see the 20 dragging into the bull market doors the 50 eventually and Bitcoin as it was consolidating some red candles

Throughout in that overbought area so we want to see this continued momentum right it’s not it’s not a big bad thing for Bitcoin to be overbought doesn’t mean hey we’re overbought we’re going to go all the way back down oversold bull markets are different bull markets are

Different so that’s what I’m watching on the daily chart for Bitcoin obviously it’s very simple I I don’t I’m not tracking really any type of structure on the short term the daily chart for me as Bitcoin hangs out in the middle of these bull market doors is can we test that

Area to the upside we’re talking about like $57,000 or so the 786 it is not far away everybody this it could happen this week if if this demand this Supply shock the scarcity continues 10% move and it’s game on now to the downside to give you

An idea if because Bitcoin is in the middle of the range to test that support around a 7% 8% move to test the bottom of this range so that’s simply what I’m watching this week so far I’m sure new things will form but that’s what I’m

Watching on bitcoin Ada charts I have a lot to break down I have this new volume profile indicator I want to kind of Infuse into the charts right now uh and I think it’s going to help tell the story of of cardano’s bull market doors

And what we need to see a to do next it’s been a nice move for Ada a little bit of of an up upper Trend move before we do everybody shout out to coin Ledger today’s sponsor of the video crypto tax has done in minutes I’ve I’ve done demo

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About it there’s a lot going on let let me clean it up a little bit I I have a lux algo indicator I want to bring up we have the volume volume profile that I want to talk about and here’s where we are so if we’re looking at this chart

Right now and I’m just going to very quickly point this out the move that’s happening now for Ada from a technical perspective to the upside and even the consolidation prior to the having is so similar to this move back here so I don’t know if you’ve seen me talk about

This before but one indicator that I’m waiting for for Ada is Del Luxe algo break of structure indicator to go off right this is what happened last cycle and it actually happened around this moment after this consolidation and then Ada took off and this was after on the

Macro a change of character that that that went off so change of character cruise to the upside and then we have consolidation and then the break of structure so that move is something I’m watching and by the way everybody I’m going to zoom in on the Ada of charts in

This video and I want to talk about the move that needs to happen next I don’t know if it’s going to happen right now but this is exactly what I’m tracking exactly right now this do you see this Fibonacci green area that’s a resistance area I want to I

Want to dig into but I I first just want to dissect something because I want to talk about all right we had this move last cycle that bull market move parabolic move for Ada it finally broke out was consolid at 10 cents and before you knew it Ada was like you know

Breaking 50 and on its way to a dollar if if I actually do a replay real real briefly here’s the consolidation move that we’ve kind of been in very similar we can go back and we can uh we can do the replay let me go back on the chart

Hold on one second let’s do I mean 3x should be fine and let’s replay it starting there so if we’re looking at the Ada a charts it’s not replaying I have no idea why it’s not replaying it’s cuz I didn’t press play now it’s playing and actually

I’m going to I’m going to do 10x cuz it’s going to take too long so you can see Ada is in the is consolidating the move on the weekly this is going to happen fast and then all of a sudden it’s going to put in this break of

Structure indicator on Lux algo you saw that break of structure it just hit and boom there it hits and then Ada took off this is the move that I’m waiting to see if we can get this to happen now the the thing that I want to point out as it

Relates to this cycle right now is this check this out this move this next move for Ada check it out it’s going to go quick obviously Ada pumping pumping couple weeks of consolidation and it’s just going crazy right now at this moment it’s basically has broken all-time high but it’s this next move

After the break of structure that I am monitoring so let me exit this and go to the Chart now and what I want to point out to you is what I think would happen if a breaks out we already know on this chart we have this descending triangle and

Then we have this target to the upside out of the descending triangle it’s just a a a a pattern Target of 85 cents that’s our Target right that’s that’s I would say that if Ada were to break out that’s a shorter term Target it’s not

That far away it’s like 20 cents away so that’s that first area Target but the bigger area that I’m watching for on this chart is this area and this is this is another Lux algo indicator but remember we were just looking at this move play out it obviously had this quick hit of

Consolidation before continuation for a this time around I would be looking at this area around a125 or so to around a do five as a resistance area maybe Ada needs to cool off take a break we have the first Target 85 cents pattern Target it could consolidate there it could

Bounce to the downside there maybe we need to test the 200 right there can be some Cho choppy consolidation before going to this area but this is that key area I’m watching this is an order book level indicator on uh Lux algo I’d be watching this as kind of gravity for Ada

And that is to say we have the Confluence of that lux algo indicator and we also have the volume profile so the volume profile indicator that you see here you just see this area of Interest right for Ada at this General range of a125 or so to

A15 that is kind of a magnet for Ada at this point and and it looks like a war zone I would say for the Bulls and the Bears what type of consolidation might happen in that area but that’s that next move for Ada on the macro right this has

All been Stepping Stones it’s forming the bottom of the bare Market it’s exiting the the bottom of a bar market and and that exit by the way we’re looking at from the swing low to That Swing high it’s almost a 200% move to the upside this next Stepping Stone from

Where we are now would be around an 80% move or so 80 90% move to this area on the charts so that’s that move now whether or not it happens I really do not know I I I can’t sit here and say hey you know what

We had this exact move last time we’re going to get the breaker structure and we’re going into the parabolic bull right now breaker structure going to happen we’re going into the parabolic bow right now I can’t say that cuz cuz we’re in really this time around we’re

In just brand new territory but this move that happened on Ada it was happening as Bitcoin was doing this or or just after I believe Bitcoin did this break breaks its own bull market doors so the timing is set up now if we zoom in we get a sense of what we’re looking

At and I have a volume profile uh indicator up again just showing this area of high volume area of high interest interest for Ada and it’s no surprise it’s also at this confluent area of a Fibonacci retracement so it’s a swing high back here swing low and

This retracement back into a six 68 to 786 area Ada right now testing the 786 as always is the case with these with these patterns and look at look at looks like a it looks like the Bitcoin bull market doors and that’s just what a

Fibonacci is right if we if we zoom in or if we actually if we zoom out on the Bitcoin bull market doors there’s Bitcoin on a weekly making a very similar move to a Fibonacci and then here we are in the daily for Ada so I anticipate potential resistance

Resistance here look at yesterday’s Wick of resistance at the 786 area and right now Ada is at that 786 area I’m going to watch anticipate resistance if we get the breakout escape this kind of area on the on the volume profile indicator escape the 786 can Ada break away and

Put separation in because at that point we’re going to be testing these swing highs that we see on these daily Wicks on Ada you know 67 cents close to 70 and if AA can make that move and it’s got to be a really powerful move because

This is a lot happening right here a lot of resistance a powerful move for a I’d be very curious to see if the break of structure goes off on the Ada weekly chart so those are some targets they’re they’re pretty bullish targets I should actually I’m going to I’m going to Tim

Stamp this as well I will put in a bearish Target as well there’s no guarantee that the move will will continue exactly as it it did last time right it would be amazing if it did but what if it’s just all rejected and what if what if Bitcoin just it’s doing

Something is never done breaking into the bull market doors prior to the having but what if it actually falls back out and just starts consolidating down let’s just say I I always like to anticipate downside you know me to the extremes even and and often I’ll you

Know I haven’t done it in a while but I’ll visualize some bad case scenarios but let’s say Bitcoin falls out of there and let’s say Ada fails where it is and just starts falling if we go to the weekly chart check out where the this next volume profile area is uh on this

Indicator it’s it’s kind of in this area just below the 20we but right at that 50e moving average which again that’s the range anyway that we always talk about in terms of ADA consolidating on the weekly chart into the having if it’s going to consolidate right so if Ada

Just started falling I think there’s I think there’s a good support area in that 30 to 40 Cent range for Ada and that’s just a downside that’s just a downside speculative move that could happen right so I wanted to point that out it’s it’s definitely necessary to always consider that we’re obviously

There’s no guarantees that we’re just going to keep going up up up and up as much as we want to but right now in the short term aen need to contend with this I have lastly and I put this in the time stamp as well I’m hopping all over the

Place I have this obviously the resistance but check this out actually we have kind of a left shoulder to that resistance ahead back to the resistance if this resistance F actually succeeds and adus starts coming back down again maybe it’s to the 20 the 50-day moving average right we’re falling to like the

Mid-50s maybe it’s lower maybe there could be a right shoulder and a makes its move to the upside over here and it’s in March or something where we’re getting another test of this Fibonacci range then we’re getting the Breakout to the upside and and again this could be

That that that move to 85 Cent so it not doesn’t necessarily need to happen now where we’re breaking to the upside but you can see how speculative consolidation could come into play very quickly if there’s rejection here at the 786 Fibonacci on this daily chart but

That’s what I’m watching for Ada on the shorter term it’s really this range that it’s in right now it’s at resistance and it’ll be very interesting to see uh if it kind of comes up with if the Bulls come up with the energy to break through so time will tell that’s what I’m

Tracking for both Bitcoin and Ada as we go into this new week I appreciate all of you cruising through hit the Subscribe hit the like I’ll see you in the next video God bless