BITCOIN: WATCH THIS IF YOU HOLD ANY BTC!!!!! Crypto Analysis

BITCOIN: WATCH THIS IF YOU HOLD ANY BTC!!!!! Crypto Analysis

all right Bitcoin has conclusively broken above pretty much every key level that we were looking at on this chart and I want to break down for you the implications of that does that mean we’re going to be blasting through resistance setting brand new all-time highs or is there still a risk that we can come back down potentially even down to that 50k level that we were hoping for just because it would be a very healthy correction obviously I was expecting significantly lower price action that did not happen I was wrong about those predictions and that’s completely okay I’m still in my long position still made my off this which is absolutely phenomenal and I’m looking at different things that could be the next interesting positions for me you know one of the interesting things that we’ve done now and I’ve been speaking about this quite a bit on the YouTube channel is that if we do get above this high right here that does mean that we’re no longer in a trend of setting lower highs right and you can move the gold post and you can say that this is actually the key level to break and I agree with that I actually think that you know 67k is going to be one of those CR critical levels to get above however I don’t want to keep like moving the gold post over and over cuz then you’re not really like grounding yourself with any principles um you know and so one of the key things I think we’ve done now is we have established that you know we’ve gotten above this high and that makes our support level very interesting again right this is the big difference I was warning you guys about when we were coming back up I was telling you that if we do get above this level our support is going to be very interesting again anything below this price area and I expect that if we come down we collapse but now that we’ve come above this High we’ve proven that the market does have a good amount of bullish strength so if it does come back down to support I’m going to expect support to do what it does which is Provide support to the market give us a bounce in the market and allow us to continue to rise up so that would definitely be very interesting and it’s a very easy level to start looking at building Longs in the market as well the reason I’m saying that is because anything below some of these Wicks that we’ve punched in over here at about 60.9 uh you know some of these Wicks right here these are going to be easy levels to say like look if Bitcoin bounc is off somewhere here but not below it’s probably in a pretty good place if it gets anywhere below some of these weeks again at 6,900 then we’re basically like if you’re bullish you’re going to be hoping for another deviation and if you’re bearish you’re going to say that look like this is it we’re not getting a second deviation it’s back down to 52 um now I actually agree with the second line of thought there you know I think that if we fail some of these Wicks here at 60.9 basically call at 61,000 that we’re not going to do the bullish thing of producing another deviation coming back up you know we typically just don’t produce two deviations at the same time this was one very clear deviation because this was our zone of support we came below it bitcoin’s love language and came back above uh you know I don’t think we’re going to produce a second one right so that makes this area above 61 very interesting for a potential bounce and of course all of these things are much more interesting with free Capital that’s available to you with the links in the description below I want to highlight to you guys that if you’ve started to trade if you’ve deposited did your kyc on buybit you’re going to get a bonus up to 30k in your account and you can trade with that money any profits you generate are yours to withdraw which is absolutely sick and it’s the same with Bing X but you don’t need to do kyc you don’t need to give a picture of yourself or a picture of your ID and when you make your deposit and start trading on Bing X they’re going to give you over $100,000 in bonuses and again that’s going to be Capital that you can throw back into the market any profits you generate are your to withdrawal so absolutely cool well worth checking out you’ll find that right here in the description check it out while you’re watching this video you can just open up a new tab and gain access to these bonuses super super cool stuff uh it’s it’s the reason I’m telling you guys that you got to do this stuff is because some of you have have signed up and you’re like where’s my bonus you’re not going to get it until you start trading on the platform that’s that’s what they want you to do before they give you the free money which is totally fair cuz you’re giving you so much free money but if we do bring it back to the market here and talk about what the could look like I mean you know these are potentially very very interesting setups here with very good risk to reward right like I said the invalidation for me right now would be about you know 61k anywhere below that so it’s very easy for me to start putting like a a long tool somewhere here and you know a stop loss maybe below some of these Wicks right here that’s like a 2.7% I might raise that entry so it becomes more of a 3.2 this is like a 61 a2k entry and let’s say I’m just targeting the high that we’ve already hit I’m already looking at a risk to award ratio of two up to the key resistance I’m looking at a risk to reward of about 2.8 I’ve got 9% of upside 3% of downside it’s a pretty clean trade right I don’t know if it’s going to happen but it would be very nice if it did there’s a major problem that I see with this though and this is something which honestly I think other people are ignoring but that’s why you come here you want the information that nobody’s talking about the S&P 500 is not in a good place right now uh you know the S&P I’ve been talking about this for a while the last significant correction that the S&P 500 produced was uh was something that began at the end of July last year and so up until where we started this current correction it’s been about 250 days which is an insanely long amount of time that’s 8 months that we did not trigger another correction or from the end of this correction to the beginning of the current one that’s still a Solid 5 months here that we didn’t have a correction so it makes sense that we produce a bigger correction and this one was really nice because if you take a look at this correction here this went down by 11% from high to low it took about 90 days and if the S&P 500 does the same thing again right now then that puts us you know if it’s like an 8 9% drop that puts us right in the previous zone of the all-time high for the S&P 500 back in 2021 right so it’d be phenomenal to get a back test of that previous alltime high and right now I think what we’re looking at is a very typical a b c Correctional wave right and so the point of invalidation is more or less right now where the S&P 500 is uh we’ve got a little bit left of this trading session about 3 hours left again depending on when you watch this YouTube video make sure you are subscribed to the channel so that you don’t miss out on this very time sensitive content you’ve got the Bell icon checked again so that you get notified of this content very very important stuff but uh you know we are basically at that invalidation zone right now who we’ve got like another half% you know to get to the very top of this resistance and I think that as long as we’re below this resistance we we still have very good potential to drop for the the S&P 500 however the minute it gets Above This resistance and especially you know we get a daily close a weekly close Above This resistance I think that you know we’re we’re basically back to business we’re back to setting brand new all-time highs this is a risk that I think a lot of people have been ignoring and I think that so far it looks like a very typical you know so far it’s been about a 6% drop you know I want you guys to keep in mind that even when we produced this really big 11% drop we did at first have about 6% down followed by a 5% recovery up right so if we look at what we’ve done here it’s about 6% down followed by about a 4% recovery up right so I I really want you guys to keep in mind that it’s totally possible that within an environment where the S&P 500 drops down by about 10% you do first have a rebound and the numbers are exactly the same as what we had last time very very important uh you know it’s the point that I’ve been getting across to you guys in the recent videos right and the reason that I certainly didn’t lose any money uh on this as well is is that you know what I’m always looking for is a discrepancy where we start approaching levels for example like here we start approaching levels of resistance but we see that sentiment is too bullish if sentiment is bullish at resistance but we know what resistance is which is guess resistance then we expect prices to drop but if sentiment is very bullish then it probably just tells you that most people are on the wrong side of History again it’s the same thing at support when you drop down to areas of support that’s where you and I expect bounces but it’s where the masses become very bearish th those are very predictable tells that actually most people are on the wrong side of History here and the fact is that on certain from looking at certain conditions Bitcoin has proven that it’s bullish again right and one of the key ones was getting Above This high at 64.7 it was that key level that I was telling you guys about in my most recent video we got above that and that is absolutely phenomenal but there are still other levels to get above right and we’ve still got you know one of the diagonal lines I was sharing with you guys by the way this is interesting actually before I continue if you draw this Fibonacci level from the low that we set here up to the high over here our 618 golden pocket you know for a bearish retracement is right [ __ ] here you know I mean don’t fade this level as an area of resistance ladies and gents this is very very important as resistance in my opinion I’m not saying that it means the price has to get rejected here but if you expect that it can’t I think you’re just being naive uh it’s the same thing by the way if you draw it up to the actual all-time high the 618 level lines up with the exact same price level so I think that’s important but the other thing I was showing you guys and I can you know see if I canjo it for you on this chart right here is you know a bit of a kind of sideways uh parallel Channel a diagonal parallel Channel and it’s not like the most perfect way of doing analysis but it’s definitely good enough to make a point uh which is that we have got this kind of rough range here and you know doesn’t really matter how you draw it cuz we’re just looking for like general characteristics of the trend nothing more than that uh you know and and we have still got some room to capture uh you know a bit of resistance at higher levels in this market here and these are always just things that like you can like I said at the beginning of the video you can keep moving these goal posts and redefining what it means to be bullish and it all just becomes a little bit silly you’ve got to have conviction in your analysis but at the same time we’re not out of the woods yet and we do still need to get above some key levels and for me I think one of the you know most important levels and it’s been Illustrated very clearly with this fixed range volume profile is this red line right here which sits very pretty at $67,000 okay so that’s going to be something which I’m very very interested in seeing if Bitcoin can break now the good news for Bitcoin is that it doesn’t really have resistance anymore from a 4-Hour perspective we’ve more or less gotten out of our ichimoku cloud from a daily perspective we’ve bounced off it beautifully so that’s absolutely fantastic on a daily time frame I’m sorry on an hourly time frame now we have support right so that is absolutely great right the short term is starting to really shape up into bitcoin’s favor now because we’ve been trending up basically over the last week so that is very very good for Bitcoin for bitcoin’s health and bitcoin’s ability to continue to rise up if we take a look at this from a perspective of momentum we’ve got phenomenal momentum support here on the 1 hour we’ve kind of failed it a little bit but I’m not concerned about that because it’s just on the 1 hour we’re just about to hit it on the 4 Hour so this is something I like right we’ve got a nice big spread starting to De starting to develop and we’re about to fall into that 4-Hour support room pardon me so I think that’s a very very good sign for the market daily time frame it’s kind of neutral so there’s nothing really I can say about this right now it’s not good and that in itself is bad but it’s not bad either so you know it’s it’s not something I would read into too much at this stage in the market right now I do think that you know it’s not looking too bad uh but definitely not looking great either uh so from a you know from an indicator perspective it’s a little bit more neutral uh I think if we look very very local we’ve got this floor that we’ve started to started to establish here and you know I can draw bulks to illustrate that for you it stretches from about 63 up to about 63.3 so very very small 0.5% range isn’t it let me let me check that yeah 0.4% range here very very small range um you know so so that’s something which I think you know could be important for the market in the short term as support I think that if the market does end up losing this area of support you’re coming back down to the next areas of support not down that low probably you know like I said I’m I’m looking at like 61k as being a potential floor I’ve got it Illustrated on this chart actually a little bit better right this is already the same box that I’ve had drawn previously uh you know a long time ago this by the way this box was drawn you know like weeks ago so you know this is very very good analysis that hasn’t changed and yeah I think that if you lose this level you’re probably coming back down to that next zone of resistance I’m sorry support uh and like I said that’s a small you know kind of 3% drop down to that 61k area uh you know you could probably draw another box you know to show the highs right here you get above these highs and then you’re back up to the uh 65 66k range so those would be the kind of very very shortterm you know buy over here sell up top here uh I I would honestly probably be more interested in the buys right now uh I think the sells n I don’t like the risk profile on the sales right now setting here for a drop I mean you could if you’re a day trader but you know [ __ ] it it’s not my business but you know personally I’m I’m much more keen on these kind of buys over here because you’ve got upside potential up to here but also upside potential up to here and significantly higher and I just think that’s more likely to play out at this stage uh and again like the you know these are phenomenal trades to be taking advantage of just in principle like these General kind of setups where you’ve got a clearly defined support clearly defined resistance these are great trades to be taking advant Vantage of uh with the free Capital that these exchanges are giving you right obviously not the setup I’m talking about cuz again I’m not your financial adviser but these kind of setups show up all the time and those of you that have had access to this free Capital that you’re going to get when you start trading using my links below when you make your deposits and start trading you know these kind of setups are just so easy to come by and with free money like you just don’t care what happens if the profits come in then you withdraw them and laugh all the way to the bank and if they don’t come in then it doesn’t matter The Exchange took the risk not you so that is absolutely great stuff right there uh let’s take a quick look at Bitcoin dominance and the altcoin market before we return back to bitcoin here we’ve seen a little bit of a balance for the Bitcoin dominance here if we look at ethereum against Bitcoin we’ve seen a little bit of a drop right here so I think that’s a good thing you know this is moving in line with what we expect there’s nothing crazy happening yet but I think the bigger moves are yet to come the bigger moves have already happened also depending on the perspective that you’re coming at this from uh I want to take a look at matk as something interesting cuz I’ve noticed it’s hovering around the same kind of Bitcoin valuation I’m sorry dollar valuation but how is it looking against Bitcoin here and yeah it’s gotten very very weak hasn’t it over these last months uh no real support pretty bad place for Matic isn’t it uh let’s take a look at Matic against the dollar because this is the chart that’s been interesting to me I think that if Matic can you know get above this zone of resistance with some conviction it’s got a really nice you know at minimum like 133% of upside potentially much more than that up to about 94 cents at 30% upside here so this is a very interesting level for me that I’m going to be watching I don’t know if I can trade it it’s just a little bit too erratic with these Wicks right like what is this this is like a four 5% Wick it’s just a bit too much for me to trade but uh you know if it does start to clean up if there’s something interesting there that’s going to be something that I’m certainly interested in taking advantage of in the market as well so uh I’m going to be looking at that I do want to highlight to you guys something I’ve mentioned a little bit before we’ve had phenomenal results with this before uh you know this is uh is actually something that’s kind of part of the VIP package but I’m running it Standalone now for those of you that are interested uh we are running a very exclusive uh kind of coaching offer uh which is onet to one with me it’s a 12-week thing you’re going to have phone calls with me every single week multiple times a week as well uh and we are going to go through all sorts of things deep strategy psychology all of it like very very useful stuff this is the kind of stuff I’ve done with VIP yearly members over the last years and it has been so successful uh and uh and we we have started to basically run that side by side VIP as an exclusive offer right now so if you’re interested in taking advantage of that if you want to get in on that feel free to contact me using this link in the description below or by following these two steps here this is the direct link to message me and it’s the only way to get me uh you know some of you guys type my name on on Telegram there are so many impersonators that you’re probably not going to talk to me obviously this YouTube channel is verified you can trust the links in my description so come on and uh and and message me here if you’re interested and just get some details uh it’s not cheap and it’s not uh like a small thing like this is a big deal and uh you know if you’re looking to kind of maximize what you’re doing now or if you’re looking to turn [ __ ] around no matter what case it is uh I have worked with my God thousands of Trad at this point and uh I [ __ ] love it uh it’s it’s been going so well uh the people who’ve taken up offers like this have absolutely loved it uh obviously not everybody does well uh that’s a given uh but it is a much better trajectory generally speaking uh for everybody that has come in uh and it’s not even close so if you want to get in on that check that out ask me for the details and I will give that to you let’s move back to the market here though uh you know and continue to talk about this here if we do start to see some of these levels clearing up then I’d love to see some bounces we’ve already of course seen salana steal a bit of the spotlight uh moving phenomenal uh you know in terms of its price section here which is very very nice starting to establish a new kind of sideways trading range that stretches more like this this is like a 35% price range here which is absolutely great uh you know again all of these coins just largely waiting for Bitcoin to do something uh and that’s going to be to either a break out of this low or this high like I said support down here resistance up top at about 67 if we do break that resistance at 67 then I think that means basically breaking bitcoin’s most important most formidable zone of resistance right now and naturally if you can break the heavy areas of resistance then the lighter areas of resistance which are up ahead like 68 and 71 I don’t think that those levels are going to be a big problem for Bitcoin so that’s going to be something I’ll keep an eye out for uh but I think that like I said if we can get above the difficult resistance then the light resistance up ahead you know not going to be a problem I’d expect it to basically mean that breaking this level means that we’re on the path to brand new alltime highs anything below that and we’re still in bearish territory and I’d be very very cautious about where sentiment goes this is something I’ve already been touching on with you guys and it’s a theme that I’m going to keep roping in because it’s important and it can really lose you a lot of money if you don’t pay attention to this we have gone just a few days ago from a reading of 43 to 71 on the fear and greed index if you ask me as a Trader that’s been in the game for 7 years how it looks when the market is approaching resistance and when sentiment is getting a little bit too extreme and a lot of people are about to be very upset I would tell you that it looks like this right now it looks like a reading of 43 on the 2nd of May and a reading of 71 in fact 69 on the 5th of may only three short days later 72 hours later you go from 43 to 69 that is [ __ ] crazy there’s no two ways about it there’s no other way to say it it is [ __ ] crazy so big big jumps in sentiment here not quite clearing the most important areas of resistance is it premature celebration I don’t know you tell me certainly looks like it is to me uh you know and if we don’t get above these zones of resistance then that’s going to be a reflection of a lot of Longs that are going to be very very upset very very bitter with where the market goes again if we take a look at the long and short ratio here on binance representing retail Traders uh you know we have been majority long for a very long time a lot less now than before uh but just a few days ago for example 77% long absolutely crazy 3.46 Longs for every short Insight just not something that you typically see all the time what’s going on bro dog’s just like acting up a little bit um but but um but yeah we’re still majority long and that would be a lot of very very upset people so this is something I’m going to keep an eye out for and of course I’ll keep telling you guys what I’m seeing with regards to all of that as well uh ladies and gents I hope you have enjoyed this one you know what to do if you have smash those like Subs subscribe to the channel double check that you’ve checked the uh Bell icon uh and of course take advantage of these phenomenal offers if you are interested with Bing X not even requiring kyc but still giving you over $100,000 in bonuses super aggressive offer here uh you guys have been loving that platform and if you want to get access to that 12we program that I mentioned to you guys this is actually something I’m really excited for for like I said I’ve done this a lot already uh and and it’s basically because it’s been so good I want to run it Standalone and uh try that for a little bit if you want to get in on that then definitely reach out and uh we’ll get that going all right ladies and gents thank you all for watching and I’ll see you all in the next one cheers

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I make YouTube videos on cryptocurrency news, crypto altcoin analysis, bitcoin trading strategies and a lot more. You’ll find a lot of videos on gems to invest in and learn how I’ve earned money using Bitcoin.
This bitcoin market trading analysis applies to various exchanges, including Bybit, Bitget and Binance. Tackling questions like if Bitcoin can reach 20k again and if we will be seeing a crypto currency market recovery this year.

None of my Bitcoin (BTC) – or any other cryptocurrency videos/online posts – are to be used as financial advice. I am not liable for any losses you may incur when trading crypto, always do your own research (DYOR).
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