SOLID HOLD for Bitcoin Price Chart and Altcoin Market Through Weekend, Lows Continue to Hold Settle

SOLID HOLD for Bitcoin Price Chart and Altcoin Market Through Weekend, Lows Continue to Hold Settle

[Music] hey what’s going on everybody this is the blockchain backer bringing you the latest cryptocurrency news and Analysis today we’re taking a peek over here at the Bitcoin price chart but of course my primary focus over the last couple of weeks has been trying to locate this bottom here for the altcoin market after we spent a week looking for us to have one sweep of the lows we have held it and now it’s just been up in here settling at this point that’s what we have been looking for over there in the altcoin market so everything is still looking okay right now this video actually will be pretty brief because just going to be kind of a quick look at what’s going on with the short-term time frame stuff I do have a big 54 minute video that will be released later today that I worked on all weekend long painting the bigger picture of everything that’s going on in the market and the complications of what we have happening in here right now but otherwise last night yesterday we did see Bitcoin shoot its way back up to $63,750 low is not the real low and then it ends up going and starting to build an actual Trend we still need more evidence of price action to show up in here to give a further clue because this is a large range just because we shoot up in here doesn’t automatically mean that we’re actually trending just yet I know that’s not what everybody wants to hear but it’s just the reality of it the thing that has been more interesting to me has been that we’ve actually been able to hold this here for the altcoin market things have still been able to stabilize themselves down in here after doing really what we were looking for to get that second sweep right there Market shifted its way up now we’re working on a bunch of settling happening in here to try to actually do a reversal I’ve showed a couple examples of how those types of reversals can end up looking down in there where we end up sweeping these lows and then we have to kind of settle and then work our way back up sometimes in here you’ll even see these broadening wedges start to form in here and then you go right we can see something like that starting to emerge now still doesn’t mean that wedge is done yet even in the example of Bitcoin bottoming back in 2022 where it sweeps out the low just like we have right in here there’s still a whole lot of mess that still has to go on in here before things can really start to get going and that’s just part of the process that’s a part of reversals that’s a part of the settling that happens at the bottom I’m aware of that patient and and acceptance but the big thing to really be talking about is in the event that we are reversing in here we do start shifting our way back up everybody’s wondering it I’m wondering it are we going to have the juice to be able to actually go into real expansion happening in this market or do we need to be really nervous up in here as we get back into these retracement levels in the video that will be released a few hours after this one is released we’re going to talk about that from the really big picture I’ve essentially spent the entire week diving into this type of data to see what are those things that are going to matter in order to see if we’re going to do nothing more than a retrace or if we’re going to end up getting into true expansion and there are consistencies every single time of if we’re going to go into actual expansion not just for Bitcoin but even for the altcoin market there are actually signs that do show up in markets everywhere to give us that clue of that happening posted a newsletter yesterday really diving into a lot of that data and I highly suggest you check it out over there on blockchain back. substack do.com but in its absolute simplest form we really just have to see risk on come to the market not just Bitcoin not just crypto but to broader markets everywhere that we need to actually see true risk oncome what we can’t have is just a continued consolidation into large caps but an opening of breadth into all markets and risk on and everybody chasing everything and people not being incredibly picky but actually being optimistic that everything is going to grow the future is bright opportunity is out there and that’s what we’re really looking for we can look to things like the NASDAQ the Dow the S&P but the true controller of them all is the Russell or the Russell 2000 essentially the small caps of the United States stock market and to kind of just give you a picture of how crypto has really followed along with all of this has just been even the behavior that we’ve had for the last three years that every phase of this thing plays out the exact same whether the Falls are occurring together the consolidations the bottoms the Rises the bottoms The Falls the Rises it’s really all tied together and this is the risk on index essentially right throughout all of history for every expansion in Bitcoin to get that clean break through the all-time high for every opening of breath in the altcoins even like we saw in October and then like we saw again in January it all comes down to an opening of breath in all br markets fortunate thing that we have seen throughout history is if there is to be an expansion if others is to get back up in here where we work our way back into the retracement levels if we are going to expand the Russell has actually given an early indication that that is going to happen for every expansion that we’ve ever had in the market the Russell has given the heads up that it’s coming so long video in the pipeline that took 3 days to build keep your eyes peeled for that later today otherwise when it comes to actual price action we held throughout the weekend still just settling and ranging down in here which is to be expected that’s how these often play out down in here and we’re not acting out of line of how they should to this point so all is well in the universe just moving forward our big million dooll question is going to be that and so when it comes to others when it comes to the altcoins throughout the weekend I’ve continued to make my entries into the market I think I’m over 90% in at this point things that would drive incredible concern would be if we take out the low down here that was set back on June 24th and then if we zoom out just a little bit more you can actually see that we do have our 50 we moving average coming in to scoop us up so we are at that level as well plowing down below that would likely be pretty bad but otherwise we have a nice support coming in here at the exact same time on the structures that we have been looking for in here and so all is well right now I’ve got just a tiny bit more available to make entries and we’ve actually seen some interesting Behavior throughout the markets on some things that are really responding really well and then you see lots of things that are actually just kind of settling kind of weak so I’ve bought like 10 different assets some things have done very well things like avac have just they’ve gone on and done it and then they’ve just been shooting their way all the way back up these things look great a has also done a very good job shooting its way back up same goes for polka dot but then you look at things like hadera hashgraph that still just haven’t gotten any kind of Bounce to be able to do anything like that the same goes foru and something like Aerodrome Finance so you do whatever you want to do the way I’m kind of treating it is if any of them just start kind of taking out that low over there that’s already been established I’ll cut those entries that were made in there and then reassess somewhere else but for the most part things are holding up fine like over here with cardano and xrp and like we mentioned a couple of them are even getting further way up there like a and a ax and this is just kind of the process of how things go so we’ll take it one day at a time but so far everything looks just fine so on that note we’ll wrap this up we’ll keep this one light tight and bright and quick keep your eyes out for the monster coming out later today the monster video otherwise a new newsletter was released over here over the weekend really showing how that signal of the opening of breath even using indicators of breath have given us that foreshadowing and that evidence of we can look everywhere we want throughout this Market we can draw all the lines we want throughout the market the thing we absolutely have to see is that consistency throughout all markets and this is a 28 minute audio recording of This newsletter in here and it’s a good one so check it out over there on blockchain back. substack do.com of course you get access to all the past ones as well and all the past audio recordings and all the research that’s been put into there you can also check out BCB backer.com with over 40 videos and 11 hours of content teaching you how to set up your own charts and indicators within trading View and coin Trader Pro and talking about the historical behavior of the cryptocurrency market there are links in the description of this video to BCB backer.com and down here to blockchain back. substack docomo I’m going to enjoy a 4-day weekend stock market will be closed on Thursday but I’m just going to go ahead and take Friday off as well to go ahead and have an extended weekend to be with my family otherwise I’ll catch you guys tomorrow on Wednesday until then I wish you the best but all right that’s it thank you so much for watching if you could please like this video and give it a thumbs up if you are new to the Channel Please Subscribe and hit the notification Bell so you can be notified of when I create new content and when I go live as always this is not investment advice and I am not a financial adviser but if you ever need to pick me up or a little bit of reassurance just remember that the blockchain backers got your back have a good one [Music]

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