THIS CHART JUST REVEALED THE ULTIMATE BITCOIN MOVE

THIS CHART JUST REVEALED THE ULTIMATE BITCOIN MOVE

up or down of course the number one question for Bitcoin well in today’s video I am going to show you a couple of very important charts and also some information in general pointing towards the direction Bitcoin is going to go so I have a couple of bullish charts I have a couple of bearish charts as well I’m going to give you everything here on my channel and then ultimately I am going to show you why the ultimate move for Bitcoin is only going to be in One Direction ction so guys make sure to stick around from the beginning Until the End very important information welcome back everybody my name is Chris bringing you cryptocurrency videos every day teaching you how to make money in this market if you’re new to the channel then make sure to subscribe and activate the Bell right now so let’s get straight into it guys and first on the daily time frame you can see that we are having a nice Bounce from alt coins however even though on The Daily time frame things are looking really really good you’re seeing a lot of pumps across the board looking at the weekly you can still see that is an absolute blood bath and on the monthly absolute Carnage as well so do not be too fooled with the daily time frame because yes on the yearly you do have a couple of very big Winners but on the monthly weekly you do have things looking really really rough okay so that is the first thing the second thing is that we have had a nice Bounce from $53,500 we’ve had that bounce up to 56 almost $57,000 and now we’re approaching my Orange Box and now this is going to be a key level of resistance okay so this level is something we will need to break through for sure but the Bears are not going to uh give up this level easily and then you have the 200 day moving average right here as well which is the green line okay so you do have a couple of very significant resistance levels to break through but uh I guess the positive thing is that on this pullback we didn’t come back to The Orange Box so this one hasn’t been tested yet so if we are to roll over again and start going down then this has not been tested and the Bulls are going to try to defend this level as well so for now we want to uh for the bullish case break through The Orange Box and then see continuation towards the upside so we will see about that for ethereum nothing in particular particular has been happening you can see that after this drop down to 2,850 this orange support level and we’ve had a bounce we met resistance right here and then we have been going up as well now traditional markets made a new all-time high yesterday so traditional markets continues to do really really well and um this is also one of the key reasons why I believe that it is only a matter of time until Bitcoin starts to catch up and I do think that that is going to happen but there’s a lot of fud there’s a lot of fear there’s a lot of uncertainty in the market right now so some data that came out yesterday us nonfarm payrolls and unemployment rate so essentially you can see that the market was or the jobs Market was pretty strong with the unemployment rate actually being uh about what was anticipated but non-farm payrolls actually increasing now one key thing here is that even though it looks like the jobs Market is very strong it is actually painting a false picture because full-time employment in June actually fell 28,000 workers meanwhile part-time employment in June jumped by another $50,000 so that gives us a net of an increase of workers in general however it is just that full-time workers they are quitting their jobs or getting fired and they’re taken on multiple part-time Employments okay so the jobs Market is not as strong as it may seem and this is a key thing for the FED because if the job market is strong okay then they’re going to keep rates higher for longer but as soon as there’s weakness in the jobs Market they might have to act here and cut interest rates okay so this is why this is very important to keep track of and I will continue to update you on that we have a confirmation that mount gos have actually started to repay customers right now some people who are using bitbank have actually confirmed that they’ve been receiving some Mount GA Bitcoin so finally we can put this Saga potentially um behind us and I really really hope that this Bitcoin is being distributed as soon as possible so that we can put this behind us it is 8 billion so of course if most of this hits the market that is not a good thing but maybe the market is overreacting okay maybe maybe the market is overreacting because we’ve gone down really really hard in anticipation of Mount GA actually uh Distributing here and dumping Bitcoin with it so we need to be careful with this but we need to keep our eyes on it for sure now the flows from the ETFs you can see that we had a positive flow on the fifth which is very very nice $143 million which is the highest we have had since uh well since June mid June essentially so that is all good you can see that institutions and ETF uh buyers they were buying the dip when Bitcoin went down here so that is cool to see now I want to show you this one it was posted by Benjamin Cowen and uh he showed us a trend line which we saw in 2019 so we have a trend line here which went down it’s on the daily time frame it is from July until March and uh you can see that ultimately we had this big capitulation this was actually the covid crash and we hit the trend line and then from that point we went up now what is he arguing here potentially we are going to see a similar trend line here and you can see that this is sloping down all the way to $48,000 now I do not necessarily think that we’re going to continue to hit this trend line on the way down why because what you saw when we hit the trend line right here so what I think would happen is that if Co did not happen and this was the co crash by the way if Co did not happen we would have gone up so you can see the peak right here and then boom co boom down but I think that we would see something similar maybe not as explosive but we would see something similar even if Co didn’t happen Okay so I just think that we would take away this portion this crash right here but Bitcoin would be trending upwards after hitting this trend line so um yeah this is something that is potentially a little little bit bearish from Benjamin Cowen but to each their own you have to make up your own mind but I do not think that we’re going to see such a crash as you saw right here could we come down to this trend line it is currently at 52 it’s going to slope down to 50 and then 48 potentially we could see that but I would not expect a massive crash like this and remember here we already went up and then we saw this this crash now another thing I wanted to show you also from Benjamin Cowen is that we had a Divergence in 2019 so basically this chart when you saw this we also had a Divergence between the S&P 500 the traditional markets and Bitcoin so what you can see is that and this is something you already know the yellow line is the S&P 500 traditional markets it has been going up Bitcoin has been going down on the weekly time frame and we saw the exact same thing here during the covid crash you saw traditional markets go up and you saw Bitcoin go down so what is arguing here is that potentially you’re gonna see the same scenario now for me I do not necessarily think that this is going to happen and also remember guys when the covid crash happened when this Co crash happened it was potentially one of the best from a risk reward standpoint it was one of the best buying opportunities in our lifetime for Bitcoin and Assets in general all right so if it were to happen we need to be prepared of course but I do not see it as likely at all so uh let’s keep our eyes on that also what you can see is that the onchain trader realized price and profit loss margin is is at the lowest point since the FTX collaps so when FTX collapsed you had the same amount of onchain Traders being at the loss and this is typically a bottoming signal so just wanted to point that out as well let’s continue with the data here you have the fear and greed index being at 26 which is the lowest level since January of 2023 so a lot of people are fearful right now this is when you want to start paying attention men guys so do not get shaken out of the market guys this is when you want to take note and also finally as a final kind of uh thesis about where I think Bitcoin is going to go I want to show you this so this is the money market funds and it just hit a record of $615 trillion in this so This Is Us treasuries and um you can see that it has increased by $1.6 trillion since March of 2022 why because with higher interest rates you’re able to get 5% 6% on your money so why not just put it into these money uh funds and earn that sweet 5.5% or whatever but remember when the interest rates when the FED starts cutting interest rates most or a lot of this money is going to find itself into assets it’s going to be into uh stocks it’s going to be traditional markets it’s going to be Bitcoin it’s going to be altcoins so part of this money and remember we at the record part of this money is going to find itself into the markets eventually and then we are going to see a crazy new all-time high for assets across the board so it’s only a matter of time so this is the number one reason why I’m not concerned about the shortterm movements here and I think that Bitcoin is going to see much higher prices guys I hope that that was helpful for you thank you so much for watching this video and I will see you in the next one

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Timestamps:
00:00 – Will Bitcoin pump or dump?
00:44 – Bitcoin analysis
03:08 – Important data
05:40 – Crash incoming?
08:23 – More clues about the next move
09:11 – Why Bitcoin will make a new ATH

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