BITCOIN IS AT A CRITICAL LEVEL! THIS IS THE NEXT MAJOR MOVE!

BITCOIN IS AT A CRITICAL LEVEL! THIS IS THE NEXT MAJOR MOVE!

guys Bitcoin is at a critical point right now today guys I am going to talk about what I see happening not only for Bitcoin but alt coins in general we do have a couple of very important charts to go over also I am going to show you some very key onchain data that is happening right now and this also gives us an idea about what the next major move is going to be so guys make sure to stick around from the beginning until the end of this video Welcome Back everybody my name is Chris bringing you cryptocurrency videos every day teaching you how to make money in this market if if you’re new to the channel then make sure to subscribe and activate the Bell right now so where we left off yesterday guys is that we were approaching my Orange Box up here and we got on the daily time frame the day before we got rejected once so we met resistance right here but in yesterday’s candle in fact on The Daily time frame we did manage to break through this point so you can see right here on the 4H hourly time frame we got rejected one two three times fourth candle boom we went up and uh then actually sideways a little bit getting supported on the uh higher edge here going down meeting support again on the 4H hourly time frame at the uh bottom of this Orange Box and now we are just below it so we are just on the 4 hourly time frame you can see it’s almost with dollar Precision here exactly at the edge of The Orange Box here the Bitcoin price is on the 4 hourly time frame very clearly being pushed down by the Bears here now if we zoom out again so yeah this is actually pretty crazy that is exact it’s almost like on the exact dollar so it’s like $3 from where we getting rejected right now it is like $3 from the orange uh from the edge of The Orange Box so that’s crazy but let me go back to the Daily time frame because if we can make on The Daily time frame this Orange Box support if we can close this daily candle Above This Orange Box that is very very very very bullish now we always knew that this Orange Box uh was going to try to be defended by the Bears the Bears would try to do everything they could first they would try to do whatever they could to keep us below this Orange Box they didn’t manage to do that so we broke above it and then they’re going to now do everything they can to make sure that on the daily time frame we close below this point so it’s kind of this Thug of War right now between the Bulls and the Bears regarding who is going to claim uh this Orange Box right here but if we close a daily candle Above The Orange Box here I do think it’s likely that we will see the next level of resistance which is going to be at $68,000 so I’m keeping my eyes on that the structure of the market is still very very good and also if you look at the traditional markets obviously they are not open yesterday um but um yeah they’re going to open up this evening on the Futures market and we did have a massive breakthrough on the last day which was Friday we did have a massive breakthrough uh from the um yeah this downtrend right here so if we can continue this if this can continue towards the upside when we open up this evening that could potentially be enough Steam for us to have a little bit of a upwards action here for Bitcoin and then close Above This Orange Box so that is what I am watching now really um apart from that in apart from Bitcoin I would say there’s something very very interesting happening with the altcoin so if you look at a total chart which is uh the entire crypto market so it’s Bitcoin it is altcoins um you can see that we are also finding support of a key level right here at $22.25 trillion in market cap okay so we’re finding this support that is all good on the total crypto market cap chart but if you look at the others chart you can see that we’re also finding support but we’re having a green weekly candle right here so if you look at the total you can see that we’ve had a couple of red candles 1 2 3 4 five and all of these candles have been going lower and lower but on the others chart you can see that we could potentially have a little bit of a trend reversal here that is going to start to outperform the rest of the market so if you don’t know what the others chart is this chart is all of the cryptos apart from the top 10 you take away Bitcoin ethereum take away all of the bigger altcoins so uh green candle right here we can obviously also get a green Candle on the total chart if we see uh yeah we see Bitcoin primarily and ethereum and the bigger coins go up a little bit further here but it’s interesting to see that on the weekly time frame this one is red while the other chart which is a little bit more of the DJ coins are um up more it’s actually a green candle here on the weekly so let’s keep our eyes on that and see if the trend continues of the smaller altcoins outperforming the bigger altcoins and Bitcoin so let’s keep our eyes on that now let me remind you my end goal is to accumulate as much Bitcoin as possible so I’m using altcoins primarily to uh get bigger gains and then to take those profits into Bitcoin so that’s kind of my general thesis because also you don’t want at the end of the cycle you do not want to be the one holding all of the altcoin bags right when you drop down by 90 95% across all altcoins and most of them are going to come not never going to come back so don’t buy into this that you’re going to hold every altcoin forever just have a plan for how you’re going to take profit and I’m actually working on a big mini course with guidelines for how to take profit uh properly in the uh in the bull market here so there’s a lot of things going on I’m still also for everyone that is waiting for the update on the trading Str strategies I’m still working on that as well there’s so much happening right now guys so uh yeah just give me some more time I will go through everything trust me there are big things happening but uh let me show you this one as well so this is the mvrv where with one week to one month so basically what this means is that if you take all of the Bitcoin that has been accumulated in the uh sorry let me put it this way so out of all of the Bitcoin that is in existence right now if you only look at the Bitcoin that has been purchased by holders that are between one week to 1 month old uh you get a cost basis so basically what is the average price for Bitcoin from people that have been accumulating between one week to one month old wallets so into wallets that are one week to one month old and you get this kind of ratio right here now um let me just show you why this is important right here because you can see that we generally go down about 10% below the MVR so you can see one is right here 0.9 is right here on the mvrv so if we uh look at recent history you can see that just now we went down to uh 0.9 which means that out of the holders one week to one month old wallets they are down 10% if if we go down to 0.9 on this index anyway the numbers are not important what is important is the general uh kind of um themes and fractals that we can look at here so you have us going down here and if you look at the previous time we went down from this point we did have a bounce so we went down right here as well we did have a big bounce right here so we went down right here to the same point we did have a big bounce we almost went down here but uh yeah not all the way and then this is not 100% it’s not like the Lux algo bullish signal which has like a 95% accuracy it’s not like what we’ve been talking about recently where you have this fractal of when you go down by 21% in general that signals kind of a trend reversal can see we went down by 21% right here was a trend reversal we went down by uh even right here I would say 21% that was a trend reversal we went up from that point so this is not as accurate as those kind of signals because also what you can see right here there’s a couple of instances where we went down to 0.9 but we didn’t have a big bounce but in general we do so you can see right here as well went down Boom Big Bounce went down right here to 0.9 Big Bounce actually went below it slightly here and then we continued so this is one of the outliers but went down to this point right here Boom Big Bounce and right here as well big bounce so it is pretty pretty accurate but um yeah we just have a couple of instances where it just continued to go down as well so we need to be aware of that but uh if anything the takeaway here is that in general when we go down to 0.9 on the mvrv one week to one month holders we do typically s see a b Big Bounce and the continuation towards the upside also don’t act like we haven’t been here before H we’ve been here before so what is this this is the crypto total market cap excluding the top 10 so the same chart I was showing you right here the other’s chart and Tech daav he’s been talking about this for quite a while already that history is repeating you saw this between 2015 to 2016 and 17 as well so look at this we have a rounded bottom and I’ve been showing you this previously but I do have an update rounded bottom boom breaking through this going up breaking through the previous swing High here and then going down making it support and then from this point we saw a crazy pump towards the upside and look at how similar things are looking right here even this candle right here looks extremely similar to this one you saw so yeah just I’m just going to let you look at this for yourself look at how similar it looks and we’ve been here before rounded bottom and then boom towards upside so we could see potentially altcoins start to absolutely go nuts here so this is why altcoin coins is a great way to make money and then you put it into safer assets right um so I’m watching this for sure I will continue to update you but this one is big it is Big it looks really really similar and it takes place during several years so the longer the time frame uh the higher the accuracy in general so that is fantastic to see let’s see if this is going to play out the same well this kind of goes against the sell in May and go away thesis which you know I’m not a big fan of anyway if anything I would say buy a May and go away and go away for a long while because generally in you know October September you do see big pumps and uh yeah I don’t think sell in May and go away is necessarily a very very good indicator to to just follow blindly so let’s keep our eyes on that finally what I wanted to say is that I think it was Fidelity yeah Fidelity vice president of fidelity said that Pension funds and other major institutions are only starting to talk to their investment committees about crypto assets so there’s still this huge amount of kind of pool of money that is not already in crypto and it is going to start to get involved in crypto eventually guys if you want to get the best deposit bonuses out there make sure to check out my 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Timestamps:
00:00 – Intro
00:34 – Bitcoin Critical Level!!
03:30 – Altcoins
06:08 – On chain data Fractal
09:23 – More altcoin charts

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**Disclaimer**
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