CRYPTO On High Alert…This BITCOIN Chart Holds the Key!

CRYPTO On High Alert…This BITCOIN Chart Holds the Key!

a lot of times I am talking about this Bitcoin chart kind of acting as a road map for the rest of crypto this is a Bitcoin daily chart on the short term right now kind of offering us some gems some targets that I really want to discuss so we’re talking about Bitcoin as a road map for the rest of crypto well what’s next if we have the road map what is potentially next I have some indicators and confirmations that I’m waiting on on this daily chart so please hit the Subscribe hit the like button on your way in your support means a ton let’s jump into the video this is Bitcoin on The Daily before I even show that I want to show a little bit of a different perspective on things crypto markets in general cuz whether you hold Bitcoin or not this video what happens next in this cycle for Bitcoin it pretty much dictates what happens next for crypto whatever you hold any altcoin that you hold this is a total market cap chart for crypto going back to like 2014 or so these yellow lines are the Bitcoin havs I want to point something something to your attention a lot of people are kind of like man this might be it this might be the end of the bull the Little Bull Ron that happened we’re at the end but another perspective on the 2017 consolidation at the or I’m sorry 2016 consolidation at around the 2016 Bitcoin having this is just such a clear perspective you can just see a couple red months on total market cap of crypto meaning the the General market cap of crypto falling at that time but what happened next it continued into a bull cycle and then even last cycle one month after the Bitcoin having here there was some consolidation on that monthly chart and then you know crypto markets made a move to the upside now here we are last month was a red monthly candle right now we have a a green monthly candle in formation there’s still 25 days left but we’ll monitor we’ll see this could even be a red month we could end red here and it would be normal from historical perspective I wanted to just just show you that because now we start looking at Bitcoin on the zoomed in we have so much happening here but I wanted to very simply break it down the the foundation to kind of what we’re looking at is a symmetrical triangle the consolidation that took place for Bitcoin after getting very overheated and overextended right off the bat I want to mention there’s a Target to the lower 50,000 right 50 525 53,000 to the downside that’s still a Target Bitcoin broke out of the symmetrical triangle right here in April now here’s where we get these gems these short-term targets these short-term confirmation areas and right now I’m just very neutral in terms of what I think will happen next for Bitcoin I have no idea what’s going to happen next for Bitcoin or crypto but this is why I do the charts let’s zoom in a little bit see what’s going on here I’ll show you exactly what I mean clearly from really the swing high back here it’s been lower highs right so lower high lower high lower high what I want to point out right now is if you’re looking at these lower highs you can see from this swing High here to swing low that that kind of break down out of that symmetrical triangle you can see swing High to swing low this pullback right below the lower high Fibonacci this move right the you know the dip and then the bounce the Fibonacci the lower high Fibonacci when I’m doing my technical analysis is always that range that I’m waiting to see is this a fake bounce or is this real and and the confirmation I really wait for is like you know does it approach the Fibonacci range in this case that was around 67,000 at the 618 to around 69,000 60 around 70,000 at 786 does it make its way into the range and and break above that range or is it a lower high at the lower high Fibonacci you can see that was a lower high at the lower high Fibonacci we went lower we’re in a very similar bounce now so if I if I look at the newly updated Fibonacci right so swing high from that resistance that we just looked at to the new swing low another bounce in formation right now for Bitcoin Bitcoin making a little bit more of a power move to the actual range right you can see itest in even the upper range at the 786 that was around 65,000 but not breaking above it and this is the confirmation area that I’m waiting for on the daily chart you can just see Bitcoin truly contesting with this entire range and right now we’re we’re in kind of this daily candle it is red there’s a few hours left of the daily candle probably is going to close red you can see briefly it it was trying to test and break out of that Fibonacci range how does Bitcoin and here’s where things get interesting these are the gems how does Bitcoin interact now with this 20day moving average which is almost perfectly confluent with the 618 of that Fibonacci range and the 50-day moving average so couple things going on with that if we’re if we’re opening up the chart and we look at the RSI I want to point out a sign of hopium for you hopium enthusiasts is the fact that this downtrend on the RSI currently has kind of been broken right that little downtrend right there there’s no guarantee that this is flipping and and and the RSI will start going bullish but we might start seeing higher highs and higher lows on the RSI as Bitcoin might even consolidate for a few more days sideways maybe even down just a little how does Bitcoin look like on the RSI and are we going to start seeing some bullish Divergence that could be the the second bullish confirmation right so we’re waiting to see if Bitcoin can break above the 786 around 65,000 but we’re also waiting to see what happens with this RSI currently if I zoom out the daily I want to show you something I I think I talked about in the last video for Bitcoin this this move to the downside Bitcoin falling it’s just a normal move it’s such a normal move in in any Market let alone a bull market here’s the last dip that Bitcoin had uh Bitcoin just falling 21% and then we we kind of went through all these dips these these were higher high to higher low dips really for Bitcoin since exiting the bare market and you can see all of these what I want to show you is if you just look at the last time right this last one Bitcoin dipping and you can even just see I have this Lux algo indicator this is the reversal zone for Lux algo just above that green zone and then making a move to the upside and you can see it got overextended in the red zone and needed to consolidate to the downside similar things have happened with the Lux algo indicator this time around now if we look at this though what else is happening here and this is kind of where we are right now and another area that kind of I would say gives a little confidence in terms of using these indicators and this is just simply true for all of technical analysis no matter what chart you’re looking at but in this in this kind of very similar environment meaning swing High to swing low and then bouncing back up and contending between the 20 and green and the 50 and blue look at that that’s like a week Bitcoin was like what is it going to do is it going to break above or is it going to see resistance and fall below we are in a very similar area right now so we looked at the Fibonacci the lower high Fibonacci in that green area just a such a perfectly confluent area of resistance with those moving averages and look at it now Bitcoin is in this this move maybe not so here right because the 20 just crossed below the 50 it still needed to kind of maybe see some momentum to the downside but right now bit Bitcoin is in a move where where it truly can do what it did in that previous swing low that we looked at and that is to say maybe it consolidates with within the the 50 and blue the 20 and green and then continues to upside but again we have to wait and monitor these areas but the key area as you can very clearly see is the is the lower high Fibonacci on this daily chart and again that is about 63,000 let’s call it to around 65,000 that range and we’re within it right now which way does Bitcoin break I think that will answer a lot of questions and and really give a sense on the short term we talk about Bitcoin as a road map this could give a sense of the next move we might have another leg down but I want to talk about that if Bitcoin does see the resistance here at this range maybe it tries to pop up against one again one more time and then it falls well you know we’ll obviously watch the upper trend line of this Rising wedge huge Rising wedge that goes pretty much to the bare Market exit right target to the upside still Inay in play 85,000 right now we’re just we had the breakout in February we’re in the middle of this throwback to the to the wedge let’s watch that upper trend line see if there’s support but furthermore on top of that even if Bitcoin were to ball to the Target out of this symmetrical triangle if I if I show you the symmetrical triangle even if it falls right here’s the breakout to the downside nice pullback just textbook looking another lower low a nice little bounce that we’re in right now if it continues falling right the lower 50s I just want to say in that environment Bitcoin and you can see where this reversal Zone even is for the Lux algo indicator Bitcoin will be kind of very oversold right and it would be very interesting to see what the RSI is doing on the daily so even if it makes a move to the downside that could be the bottom of this move and I just just want to say something if the move happens and this kind of brings the the story together for me at least if the move does happen there’s resistance here we fall lower we put in a low another lower low well maybe we get actual bullish Divergence with a higher low on the RSI on that move in the coming days however it happens if it happens that move right there if it was if it was to fall into the lower 50s that would bring us in such a similar environment to what happened in 2016 at that having and you go to the weekly chart just look at this Bitcoin has already if you look at this weekly has already tested this area this Fibonacci bull bull market door area in in yellow that Wick last week insane but if we go back to 2017 right and you can just see this was after 2016 having there’s that move at the having but check this out the move even months after the having Bitcoin testing that very very similar Fibonacci bull market door area so we might be getting the best of these dips that is to say similar move 2016 having similar move bull market doors after the Bitcoin having those two things might just very simply be happening right now on bitcoin’s chart and what did Bitcoin do next so Bitcoin can fall lower what did Bitcoin do next after the both of those moves those were higher low moves and then Bitcoin went pretty crazy right you can just see it there there’s that dip at the having here’s this dip the bull market doors Bitcoin went crazy and now here we are we have two of the very similar dips happening Bitcoin having dip as well as bull market door dip and there’s room to downside all the while that 20we moving average right there to be tested if it wants to be once once again you can see this last week tested already and that might have been it but short term we’ll get the idea of are we going to see another leg down or not I think on The Daily with all these things that we just talked about so on the short term these are all the things I am watching so it will be very interesting on the very short term I’m talking about like when I’m uploading this video Bitcoin right there at the 20-day moving average the lower side of that Fibonacci retracement right around 63,000 63300 couple hundred dollars away from where Bitcoin is right now that’ll be the first interesting area can Bitcoin hold support above it or are we falling lower and do we have to start anticipating the downside if Bitcoin breaks the Fibonacci to the upside that’s just it’s for another video that’s that’s what I’m watching though that’s that first bullish confirmation I’ll do another video if it happens the 50-day just above it could be a little bit of a spoiler maybe Bitcoin makes a move to the upside and then fails just at the 50 but that will be the next big area just above that area but we’ll monitor it if it happens we’ll cover it and we’ll start talking about targets to the upside if we’re getting an actual bullish reversal so hit the Subscribe everybody I appreciate you cruising through hit the like button if you enjoyed or got any value out of this this video I’ll see you in the next video God bless

In this video, I delve into the complexities of Bitcoin’s daily chart, presenting it as a pivotal indicator for the broader cryptocurrency market. I highlight how Bitcoin’s movements could signal the future trends for all cryptocurrencies, including altcoins. By examining the total market cap chart for crypto since 2014 and discussing the influence of Bitcoin halving events, I illustrate potential future scenarios. I analyze various technical indicators such as Fibonacci retracements and moving averages, discussing their significance in predicting short-term price movements. I also touch upon the RSI and its potential indications of emerging bullish trends. Throughout the video, I emphasize the importance of these technical tools in understanding Bitcoin’s current position and its possible future directions, whether it may continue a bullish trend or experience further corrections. I encourage viewers to subscribe and like the video, as I prepare them for the possibility of discussing Bitcoin’s next moves in upcoming videos, depending on how current technical signals play out.

Subscribe, Like, Follow me www.twitter.com/cryptorecruitr

Intro 00:00
Crypto total market cap 00:30
Bearish target 1:55
Lower high confirmation area 2:45
Key indicators to watch now 4:30
Crypto bottom getting close 8:00
Bitcoin cycle data 10:00

Join this channel to get access to perks:
https://www.youtube.com/channel/UCnMku7J_UtwlcSfZlIuQ3Kw/join

🟩 Bitcoin 4 Year Cycle Prediction – This May Change Your Mind On BTC

⬇How To Stake Your Cardano In Minutes With Crypto Capital Venture!⬇
Stake Your ADA With Ticker: CCV1 ➡ https://youtu.be/cikJiJgRZFQ

⚡ Catch Me On Twitter
⚡ http://twitter.com/cryptorecruitr

Crypto Capital Venture New – Cycles of Bitcoin – https://www.tradingview.com/chart/BLX/IzGnRABO-The-Cycles-Of-Bitcoin-Speculative
☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰☰

*Crypto Capital Venture does not guarantee or make any representations or claims to any particular amount of staking rewards that you will earn through delegating your Cardano. Any return that the protocol disburses to you is decided by the protocol. You are not investing your Cardano with Crypto Capital Venture. Delegating to a Crypto Capital Venture stake pool does not involve transferring or legally assigning the Cardano or the rights thereof. Crypto Capital Venture simply serves as a validator and provides community members a way to delegate to the Cardano Protocol consensus mechanism. All staking percentage rates and all rules and parameters are decided by the Cardano protocol.

*The above video references an opinion and is for news/information and entertainment purposes only. It is not intended to be investment advice, financial advice, or any solicitation, recommendation, endorsement, or offer that you buy or sell any cryptocurrency or securities. Trading in cryptocurrencies and securities is a high risk activity involving risk of loss so please seek a duly licensed professional for investment or financial advice. The information provided on this video should not be used to make any investment or financial decisions without consulting your financial or investment advisor. This video contains my opinion only and is not intended to cause harm or defame anyone or any entity.

Crypto Capital Venture is big on tracking bitcoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a very volatile way, there is much opportunity in being prepared for upside and downside. We also cover Bitcoin news on this channel as it comes out.

#crypto #cryptocurrency #cryptonews #cryptocurrency #cryptocapitalventure #blockchain #finance #stock #investment #crypto #altcoin