BITCOIN Dips Are GOOD! (BTC Price Targets)

BITCOIN Dips Are GOOD! (BTC Price Targets)

Bitcoin charts on The Daily dipping
that’s a big daily red candle I have I
have one thing to say and maybe this is
more for myself as I evaluate these
markets as I look at the technical
analysis get over it get over it and and
this is just a story that is told over
and over Bitcoin dipping even in Bull
environments even in Bull markets it
dips in bare markets and it dips in Bull
markets I’m going to just paint the
picture what I think is potentially next
for Bitcoin at least what I’m anticip
ating but even more so I want to just
kind of zoom out on this daily chart as
we kind of take a zoomed out starting
point and then we zoom in on where we
are going next in the short term but I
just want to zoom out and just get some
very relevant perspective so please hit
the Subscribe hit the like let’s jump
into the
video the get over it aspect comes from
the very fact that as I zoom out on the
daily chart bitcoin’s always dipping
whether as I mentioned it’s in bare
markets or bull markets right here’s
here’s the bare Market obviously bit
dipping and then it’s pumping and then
it’s dipping and then it’s pumping a
little bit well even in this environment
where Bitcoin has exited the bare Market
all the way back here November Bitcoin
makes a move to the upside and then it
dips 22% move to the upside dips 20%
move to the upside dips 21% move to the
upside dips 21% this has been a story of
Bitcoin not even just this
cycle from the beginning of Bitcoin this
is what Bitcoin does and and these dips
these consolidations when you really
start going to the weekly chart and you
zoom out and you and you’re starting to
understand the story of Bitcoin of
higher highs and higher lows across
multiple
Cycles you come to the very just real
real very
real
just reality real reality I’m not sure
that makes sense but it does to me that
Bitcoin has to dip it has to dip if you
want Bitcoin all-time highs if you want
altcoin season and your favorite
altcoins just to go parabolic in the
bull
season Bitcoin and crypto has to dip and
we have to have these just unknown
environments where we’re like where is
it going to bottom and so Bitcoin
there’s all those dips we’ve just looked
at from the exit of the bare
Market Bitcoin this time so far from the
all-time high to where it is right now
177%
so that could be all the perspective you
need right now in this moment and I want
to add more perspective and then we’re
going to dig into the charts and talk
about targets and what’s realistically
just so in play for Bitcoin it’s been in
play we’ve been tracking it this is why
I do technical analysis and this is why
we track these things so that we can
anticipate these things before they even
happen because it’s happening right now
bitcoin’s dipping but if you look at the
momentum oscillator on the daily chart
Bitcoin has very much cooled down right
and it’s exactly what we want to see and
it it’s done so in in such a way where
it’s it
resembles other times right just look at
this here’s here’s this example that we
briefly just mentioned this 21% dip that
Bitcoin had RSA RSI cooling down in a
very similar fashion right and then here
if we go back Bitcoin on the RSI cooling
down in a very similar fashion what we
want to see and I don’t know when it
will happen but this this this dip right
here gives a really good example of it
what we want to see is the RSI and it
doesn’t have to necessarily bottom out
in over oversold but we want to start
seeing the RSI start turning around
bitcoin price doesn’t need to start
pumping bitcoin price can kind of be
putting in some higher highs higher lows
doesn’t have to go parabolic or anything
but we wanted to see the RSI just start
putting in higher highs and higher lows
as well and that could be the momentum
shift that we’re looking for that is
something that we
see time and time again on bitcoin if we
go to the weekly chart speaking more to
the whole these dips need to happen this
dip especially this dip needs to happen
in my view because Bitcoin has broken
all-time highs most recently right back
here and that happened for the first
time ever before Bitcoin having Bitcoin
has been overextended and overheated for
quite some time in a way in which it has
never happened Bitcoin is doing
something Bitcoin is diverging from the
insane consistency that has been on this
Bitcoin chart over the years and I’ve
used the data over the years to really
play into the technical
analysis Bitcoin has diverged a little
bit and that’s very important to to make
a note of but in that Divergence in that
being overheated environment alltime
high before Bitcoin having we should at
least anticipate downside and
consolidation before Bitcoin and crypto
does whatever it’s going to do next now
what I want to say is there are still
consistencies that we will look out for
and right now one of the biggest ones
that I want to watch for is the green
line that 20we moving average it’s
around
$55,000 the reason I say that is because
no matter what even though Bitcoin has
broken all-time high
before the the Bitcoin
having every cycle pass when Bitcoin was
kind of getting ready to enter a really
bullish environment whether it’s right
around having or not Bitcoin has
retraced to this 20we moving average
before going higher right so there it is
last cycle we go to the CLE before that
this is even a little bit closer of a
look to what what has happened right now
for Bitcoin bitcoin’s breaking these
bull market doors and then it revisits
the 20we moving average you can actually
see it’s even falling below the 20 we
just a bit and then right after having
wicking below the 20 we moving average
and then we go the cycle before this
it’s that 20we moving average check it
out right after having just
consolidating at the 20we moving average
so if we go and we look at Bitcoin chart
right now on the weekly check it out
Bitcoin is still above the 20we moving
average and just making its way down to
the 20we moving average very similar to
the 2017 move uh into the bull market
doors right if I can go back really
really quickly I know I’m all over the
place but boom 20we moving average
visiting those bull market doors once
again very similar Vibe right now on the
Bitcoin charts it’s going to be very
interesting to see how it plays out but
time will tell as always because we have
a Target right at that area the 20we
moving average the bull market doors and
even this Rising wedge uh that bitcoin’s
broke out out of all the way back here
in February just the Apex of that entire
area so all in here is a target for
Bitcoin and it’s very much Illustrated
on the daily chart so right now let’s
talk about the short-term targets for
Bitcoin and what I’m
watching very
simple if we look at we can even monitor
this there’s still 9 and 1 half hours
left this higher low fibon it’s a swing
low here to swing High where we got that
resistance up here at the the 50-day
moving average this green area I’d be
very curious to see how Bitcoin daily
closes can can Bitcoin close within that
green area I mean a little bit of a
bounce to the upside close within that
green area it could be a higher low uh
within that Fibonacci but removing that
there’s a there’s just a very clear area
right now two very clear areas that I’m
watching number one it’s the Apex of
that Rising wedge that we disced discuss
you can see Bitcoin testing that area
right now so whether it’s the Fibonacci
or this upper trend line very curious to
see if Bitcoin can bottom out right here
at the support area if it doesn’t let’s
be very clear the target to the downside
out of the symmetrical triangle is and
has been around the lower 50s let’s call
it 52
53,000 if that move happens
that would be a very normal
consolidation for Bitcoin in general it
would be a very normal move out of a
symmetrical triangle in general and you
can see it would be a 27% total dip if
the targets hits but what I’ll be
watching all in that area that the
target doesn’t have to be perfectly hit
what I’m going to be watching are are a
bunch of different things critical areas
here’s the 20 20we moving average around
$55,000 so here’s a daily chart let’s go
over there $55,000 it’s like right
around there there’s the 20 we on this
daily chart so what do we have we have
the upper trend line here we have the
entire apex of the triangle confluent
with that is a 20we moving
average we have the target to the
downside around 52 53 and then we have
the upper end of these bull market doors
this this this is a lower high Fibonacci
on the macro this is like one of the
most important cycle indicators for me
and that is around 57,000 so Bitcoin has
all of this area really to just do
whatever it’s going to do and that’s
that’s all I’m doing I’m monitoring I
want to watch where Bitcoin Falls within
this area or maybe a better word is
where it might bounce within all of this
area and then the question is on this
RSI what is the RSI doing is it going to
also bounce how is it going to interact
with with price movements are we going
to start getting higher highs and higher
lows these things take time to play out
but this is what I’m watching for
Bitcoin but I can’t say this enough
Bitcoin was very overextended earlier
than ever Bitcoin is in such a healthy
area I think even as it’s falling right
now as I’m doing this video and I think
we just have to get over it and give it
some time give crypto some time to
consolidate let it do its thing because
the Bitcoin having just happened I think
there’s a lot of bullishness in store
for crypto but I’m just watching these
charts kind of putting aside the emotion
of what it might look like and just
looking at the normaly of what the
charts are doing because when I look at
this when I zoom out on a weekly
everything looks normal even compared to
previous Cycles if not a little bit more
bullish so these are my thoughts on
Bitcoin today hit the Subscribe hit the
like I appreciate you watching I’ll see
you in the next video God bless

In this video, I discuss the current patterns in Bitcoin’s price movement, focusing on its consistent history of dips and recoveries, regardless of the market being bullish or bearish. I highlight the recent significant red candle on the daily chart and emphasize the need to “get over it” as part of a normal cycle in cryptocurrency markets. I delve into technical analysis to anticipate potential future movements, using tools like the RSI to gauge momentum and identify cooling phases that suggest a potential for recovery. I stress the importance of understanding that dips are a natural and necessary part of Bitcoin’s journey to higher highs, particularly as we approach new phases in the market cycle, such as post-halving periods. By zooming out to a weekly perspective, I place the current price movements within a broader historical context, underscoring the cyclical nature of Bitcoin and its tendency to revisit certain key moving averages before resuming an upward trajectory. This video aims to provide a rational perspective on Bitcoin’s fluctuations, encouraging viewers to maintain a calm approach to the inherent volatility in crypto markets.

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Intro 00:00
Get over it! 00:05
This always happens 00:45
Bitcoin and altcoin all time highs 1:50
BTC momentum 2:50
Bitcoin weekly retrace normal 3:55
Bitcoin support and bullish bounce? 6:50
Short term Bitcoin price targets 7:45

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