BITCOIN ON THE EDGE!!!!!!! SOMETHING HUGE IS COMING!!!!

BITCOIN ON THE EDGE!!!!!!! SOMETHING HUGE IS COMING!!!!

all right there we go we have seen a nice little pullback in this market here Bitcoin managed to top out at one of our key areas of resistance at $65,000 and we have now started to Tumble down toward that $61,000 area of support so this is still a pretty good situation in the market for me uh I want to talk to you guys about where I think this can go if we’re going to be going significantly higher from here or if this is going to be a collapse and we’re going back down to the 50s and you know just to kind of start this off I think the first thing to keep in mind which you know lot of people really struggle with and you know I’m going to be watching things like sentiment to see where we are but you know when we when we get significantly above an area of support like this and you know in this case let’s say this the area of support is 61k because it’s a nice round number we managed to get an entire 7% above which was also sort a deviation amount funnily enough um but we also more importantly we cleared some of these recent highs right specifically this one right here at 64.7 which to me was very important you know when you start doing things like that these uh levels become they they come back in play but where previously this level was a an area of resistance I’m now going to be quite confident that this area can be support again and that’s what makes this price action really interesting because you see when you produce a deviation like this the next attempt is much more likely to serve as support right same thing over here and broadly speaking same thing with these Wicks as well because they don’t come as low as this Wick right here uh you know so to me when you get that deviation that that gives you some level of insulation that gives you some level of assurance that your subsequent attempts at the zone are probably going to be successfully uh used as support okay so that’s one of the things that I’d be looking for um obviously you know the risk is that if you don’t actually capture support here and you know I’m being generous by labeling by labeling at 61k right you could definitely say that the zone of support here is not 61k uh but instead it’s around 62 right and that would actually be totally reasonable let me show you why right here if we take a look at this uh you know you can see a lot of Wicks coming down into this range right a lot of bounces coming off this particular price area some very very healthy consolidation and by the way just ever so slightly below this level you can also see the value area low for this Market also coming in right here at about 61.2 it’s actually been moving down a little bit throughout the course of today right I mean if you just drew this this is very interesting if if you just drew this you know some hours ago um that value area low would be a little bit higher not quite in this case but uh it was up at about 61.5 so um you know it it really depends on on how you look at it but one thing is for sure uh if Bitcoin slides you know a little bit lower than where we are right now there is going to be some trouble for this market and the reason I’m saying that is because if we do start to lose some of these important levels we’re now looking at you know basically either setting that second deviation and coming back up or this thing just collapses down and you know I’ve made my stance on this pretty clear I’m not going to expect two deviations in a row where we do something like this if we come back down especially below these key areas of support so you know that could be the 60k area and I’ll help you to find that in just a minute so smash up the likes if you are excited for that uh you know if we start sliding below some of those key kind of uh important levels in this market then it becomes a lot harder to maintain that bullish case and actually everything that was bearish in this market comes back into play uh and and you know what’s worth keeping in mind is that even though we did conquer this High which is absolutely fantastic we are still ever since the oldtime high in a pretty clear situation where the market is punching in lower highs in this market and we absolutely have been punching in lower lows as well so we’re still meeting that textbook definition of a downtrend and this is something which you know again a lot of people on YouTube on you know in in crypto Twitter have problem digesting uh because it doesn’t fit in with their emotional hypothesis but obviously that’s not what you come to this YouTube channel for and what you’ll understand quite clearly when you watch this YouTube channel for a little but again shout out to those of you that are smashing those likes up and subscribed and got that Bell icon check for the super time sensitive content one of the things that you’ll realize on this YouTube channel is that we are aiming to operate much more from principles than feelings um you know and we’re doing that as much as we absolutely cat you know we’re staying very conscious of that despite how exciting or Dreadful you know how happy or scary this Market can be we’re operating from a place of place of principles okay which means that support is support resistance is resistance it’s prettyy obvious to say out loud it’s very fun for me to say it this way because you know even though it sounds stupid like I know that this is going to you know click a lot of things in your heads uh you know for for some of you for many of you hopefully um you know because most people just don’t get it they understand this stuff and they learn the ABCs of all of the stuff when they start trading uh but when it comes to the Practical implementation they’re just not able to keep these things in mind but you come to a YouTube channel like this and that’s exactly what we’re able to do uh now before I continue and tell you about some of those invalidations and talk about the upside hit want to highlight the phenomenal offers that we’ve had available 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you know a little bit of variance is okay for me uh you know and and so you know this same chart from the same levels is showing me 61.2 and and that’s totally okay I’m just going to drop a line here because this chart is just easier to work with I have to make it clear you know I don’t care if it’s 61.2 or 61.6 I’m not like such a such a degenerate like 15 minute time frame Trader so um you know these like little $400 price moves don’t actually make a difference especially when I’m looking to build Confluence and I’ll show you why in just a second um the next thing that I want to do is go ahead and throw some Fibonacci on here right and these Fibonacci are going to be able to show me where these potential retracements can come in and there are some really nice Fibonacci to throw on this chart the first one I’m just going to start it off from this low up to the high that we set here uh gives me a very interesting 618 retracement coming in right here okay so let me go ahead and draw a box right here so we can remember this cuz I’m going to be removing the FIB now uh I’ll just put a box right here in this price range right that’s our 618 Fibonacci we’re going to remove this uh and so that is another potential bounce zone now the next Fibonacci I want to look at is up to this High over here that’s the $667,000 high and why is it that high well because that’s just like a broader Zone in the market uh and that allows us to punch in another Fibonacci 618 golden pocket again I’m most interested in these golden Pockets because they’re the most important Fibonacci levels in my experience and I’m going to go ahead and remove this so we’ve got two very nice golden Pockets here uh for potential retracements for Bitcoin they’re both coming in below the value area low uh if I go ahead and zoom out and I draw another Fibonacci now from the same low but up to this High that’s a very important uh High we are in one of those zones right now now I think one of the key things that you’re going to start to understand with me drawing all these Fibonacci is that important areas in the market rest basically where we are now um you know we can drop another couple thousand lower but we are in a very important pivot range for the market what I don’t want to do and what I don’t want you to do is get interested in going long but get caught up about where you go long and then you take yourself out of a bad position because the price drops a little bit lower and then comes back up anything going down to these levels to me are okay for Bitcoin to fall down to the lower we drop the worse it is because you want to see nice big explosive Rises up and you don’t want to see the price tumbling down particularly low especially because you want to see higher lows being punched in here but what’s very clear just from these areas is that regardless of how local or slightly broader or much broader you draw your levels and by the way we can you know we can just draw another Fibonacci up to the all-time high just because you know whatever just to be thorough and it it comes in at basically the same place I don’t want to keep doing this from every single level because it becomes a little bit unreasonable and you know this is something that I’ve been talking to you guys a little bit about over the recent days on this YouTube channel you know you know a potential trap that a lot of people actually fall fall into which I you know I want you guys to be aware of like where analysis just becomes a little bit silly we’re not interested in that but what we’re interested in looking at is that from different perspectives where would your invalidation be uh you know and we’ve got a really really good sense of that now uh with what we’re looking at now basically I think it’s fair to say that anything lower than about $59,000 you’re in a pretty ugly place and I think that makes sense you’re coming in below all of these Wicks you’re coming in almost below this Wick here and you know you’re in a very bottom of this deviation range this is a very bad place to be revisiting this range in my opinion means that we’re probably coming significantly lower because we’re just not demonstrating much strength in the market right and then we’re going to have to come down to our next area of liquidity in the market which is going to be down here at about $52,000 so that to me is kind of like a real real danger zone but anything above that I’m pretty confident with Bitcoin I’m pretty happy with where Bitcoin is right now especially because we managed to get above that high right there uh you know and so that’s something which I’m going to be paying attention to now if we do manage to get support anywhere down up to here and by the way if you want to know like the key level for me the most important level for me is the 61 you know range right 61 to 61.5 I am willing to tolerate anything above 60k so basically this Fibonacci golden pocket and higher I’m willing to tolerate if we get anything lower than that then you know I I don’t I don’t want to see it right I don’t I don’t want to see any prices below like in this box let me make that red I don’t want to see any prices in this box like any anything down here to me is not good enough um you know but other people might be willing to tolerate you know lower prices so that’s why I’m kind of highlighting this to you cuz this is really going to depend on your own risk tolerance um but I’m good like we can drop all the way down here and honestly I think it’s a good thing I think it’s a totally good thing I’d be very very happy with it now if we do start to rise up let’s talk about invalidations for this bearish side uh you know I think the key invalidation now is going to be getting Above This high if we can get above this high it’s you know that’s it I think we’re we’re right up to the key level at $67,000 it’s only $2,000 above anyway and I think that this would be the next key import uh important resistance level to break because we’ve already topped out at 65k and because we’re now tumbling lower potentially in my situation as low as $60,000 I think it should be very easy to break this area of resistance you see the more you top out and the more you Trend in the opposite direction the more fuel you actually have to break these resistance levels so I’d be pretty positive that 67k shouldn’t be a particularly huge problem for Bitcoin and that we should be able to rise higher than that from here uh that would be very very exciting because if we can penetrate this area of resistance the next key resistance we have is going to be right here at about 60 71,000 because this is where the market produced some really nice uh you know kind of retracement price action some heavy heavy resistance hits as well uh and so that would be the next key area of interest on the chart I think that almost no matter what happens now if we get up to this area of resistance we’re probably going to smash right through it but I think this could be the next important area of resistance I don’t think it’s going to hold Bitcoin back I don’t think that this area of resistance is a problem if we break 67 but it is a potential area where you know we could do something a little bit like this right and then come back back up right I mean that would be the best case scenario this is like the healthiest kind of price action that you could ask for so that’ be absolutely great I think a lot of this depends on the S&P 500 and we’ve seen the S&P 500 open here and it has gotten above my area of resistance now uh over here I don’t see any more resistance for the S&P 500 other than it’s alltime high You could argue that this entire range is resistance because the S&P 500 traded sideways here for a decent amount of time about 3 weeks I’m not necessarily going to make that argument but I’m open to it because it looks like this has become a very very small local top here we are only in the middle of the trading week and there are a good you know two hours left in this uh trading session and then we’ve got Thursday and Friday as well right so I’m not too worried it’s been a very bullish week for the S&P 500 and now that we’ve gotten above this area of resistance I think it’s looking pretty good interestingly the dollar we were talking about this it fell down to an area of support I drew the squiggly line to show you that support is where bounces happen that’s exactly what happened I think that’s why Bitcoin is struggling right now uh but that does place the dollar back in resistance right so uh if you’re expecting the dollar to continue to drop and if you’re expecting the S&P 500 to continue to rise because it’s gten above the are resistance then it’s looking good from that perspective I’m not closing off my idea completely that the S&P 500 could be retracing uh but I do want you to be aware that the S&P 500 could be producing a pattern that looks something a little bit like this where if I fill this in uh we have got a potential uh symmetrical triangle forming here right and these are typically going to be bullish because we formed them inside of a bull Trend so I do want to make you aware that we could be developing that kind of pattern as well and that’s something I’m going to be continuing to watch out for interestingly we saw bitcoin’s dominance rise up uh in response to this rise ethereum got hit pretty hard uh you know lost a little bit of value against Bitcoin here other altcoins got hit much harder as well here’s Matic just not able to even maintain that 70 Cent price area uh salana of course the star of every show uh you know also sliding down from its high at 159 down to its current price at um you know 14 6 which is an 8% drop here uh so definitely fairly sizable Bitcoins dropped just out of curiosity yeah Bitcoin dropped by about half of that so you know that’s definitely interesting uh you know so I think you know bitcoin’s in validation is going to be 65 but if we can get above that I think we smash through 67 and set you know potentially brand new alltime highs in the next month or so uh you know but uh you know in terms of dropping down I’ve still got a little bit more that I’m going to tolerate for Bitcoin uh that I actually want to see it would be nice if Bitcoin can come a little bit lower uh but what I’m looking for and I cannot stress the this enough what I’m looking for are these quick bounces right I want to see that there’s just one sharp bit of price action and then we’re straight back up I don’t want to see [ __ ] around like this a little Wick down and then you know like whatever like that this is not going to give me confidence that the market is going to recover um you know I want to see that we you know it’s a very quick sharp reaction people are buying because they’re you know very very happy to pick up Bitcoins in the very low 60k range uh you know and basically that’s going to show me that we’re we are with good levels of confidence showing that this low uh is not going to be returned to and actually we are happy to buy at this low over here uh because it is a um you know we have more fomo basically there are less Sellers and there are more buyers ready to step in um you know that’s what you want to see I think right now uh the facts are still the facts sentiment jumped up very high too high uh you know we’re at a reading of 64 right now couple of you know a few days ago it was a 43 two days it jumped up by you know a massive massive margin I mean absolutely crazy so you know I still think sentiment is far too stretched out I still think people are far too long heavy uh you know but at the same time the technical picture has definitely improved because of this massive you know 15% pump that happened in just about 5 days uh you know and at the same time we are still in a you know downward Trend so I think that’s why you’re seeing this kind of unsure atmosphere in the market now because both sides actually have really good Arguments for their case you know if you’re bullish you have a really good argument for being bullish if you’re bearish you have a really good argument for being bearish um you know and you hopefully are going to be you know more equipped to make your own decision on which side of that you stay on uh you know at the moment uh you know look I I value horizontal levels more than I value you know situations like lower highs even though this is the dictionary Tex textbook definition of a downtrend I do still value horizontal levels more so to me this is just more of a bullish picture uh but I’m not attached to it and if you can’t make your decision that’s okay you don’t have to make a decision on everything you don’t have to trade everything um you know there are going to be situations where you have more clarity and that’s where you put your money in you’re not you know no one’s forcing you to tr you know you don’t have to be trigger happy and [ __ ] like that uh just take it as it comes chill relax ABC we always be chilling that’s what we’re all about if you want to get in on the phenomenal coaching offer that I’ve just described to you earlier on in the video that is 12 weeks very very intense super amazing results we’ve seen out of this then feel free to reach out to me here uh and if you want to gain access to some phenomenal cash bonuses that you can trade with check out these two exchanges linked down below where you can get huge bonuses when you do start trading using my link in the description below I do want to highlight that you know a good few of you have for example signed up to buy bit but you haven’t got your bonuses yet the reason you haven’t got your bonus yet is because you haven’t done your kyc and you haven’t started trading so you need to do that for them to give you this bonus but once you do you can take your money off the exchange and do whatever you like that’s your business uh but you will be able to trade with 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