📉 BITCOIN DUMP TO $7,600 THIS WEEK? FIND OUT HERE

by birtanpublished on August 4, 2020

So guys is key today we're gonna take a quick look at the price of Bitcoin what is it doing we've had a monster dump through the night and was it to be expected well yeah it was so if you're new to my videos by the way probably kick this off I do regular when I say

Regular once a week videos on the price of Bitcoin so we know what we're looking at through the week ahead today I'm gonna check out what's that seeing happening in the more immediate future because we seem to have found a

Temporary bottom I'm going to talk about that in today's video so don't forget to subscribe if you're not yet subscribed that's the notifications bell and the like button and all that jazz as well isn't it you tubers are supposed to see

So let's check it out so last week what we looked at was this ascending channel here daily we broke out of this kind of four days ago right about the 10th 11th of June so that was already a very bearish indication that the price we're

Going to go down and we had a monster candle down bounce a little bit back up to her and about 9500 and still though you know it there's no indication here as to which way the prices are going to go and still very much in that zone but

Now if we just quickly zoom out a little bit and draw a fib retracement we can see that actually bounced off of the governor top of that winking bottom that way you can see we actually bounce up to 50% zone here now what's important to

Know here is that this line it denotes 50% to around about eight thousand eight hundred or eight thousand seven hundred and at 95 wasn't quite reached today but it does tend to range between the six one eight fifty percent and three 82

These are the three really important prices in kind of regular trading when it comes to the Fed so you know the fact is bouncing from there tells me one of two things either it's going to continue to go back up to the six one eight which

Is about 10k which would be really nice do we need to break 10-game we need to get back into this kind of channel before we can expect any sort of impressive moves from Bitcoin but also 382 is a very likely possibility which

Is sitting around about 7600 we don't want that nobody wants that for Bitcoin right now I'd say nobody let's just take a quick look over at coin market cap looking you got to remind yourself right now that we have a nine point two

Billion dollar market cap for tether that since same amount if split checks I'll be then again isn't hard and is only 18 cents XRP ab not really a fan of coins these days but it might be wise to pick

Up some XLV while sits floating around the bottom there but yeah just looking at that amounted tether why is there so much tether there well there's a couple of reasons Hey look one of them is that people are

Either waiting to buy another dip so that's where the Bears come in that's when they kind of say well okay I'm not going to buy it I'm gonna buy 10,000 I'm going to buy only on the next fit bouncer 382 so where can you get that

Information from we can get it intensive charts calm this shows you the heat map for the order book and you can see here on violence USD T we can see here that there are buyers sitting significant buyers were around about twenty

Twenty-five hundred Bitcoin buys sitting there it's denoted by this yellow bar here some but about two four at nine to buy orders we've got eight thousand five hundred and eighty three buy orders eight thousand seven hundred

And we'll buy orders 8800 now as you can see if we just zoom in this guy here okay the eight eight nine five he seems to be the one that got the orders in in time that's why we've seen a bit of a bounce and there's a massive amount of

Buying pressure as well here as you can see by the really light yellow the darker colors means the order there's not as many orders so right now it looks like that's where people planning on pushing the price to if you believe in

Kind of whale manipulation which i think is pretty obvious here but the interesting thing is we just scroll down we don't see anything in the 7k zone even on the daily chart we don't see anything on the 7k zone okay so it is

All kind of stopping around about 8500 so I would be inclined to believe that that is going to be the next floor if we haven't already reached it now if we just move down to the 4-hour chart and check out the RSI this is quite an

Interesting thing the RSI is now completely over sold let me just on I completely oversold go cross through the 20 lied also in 30 line we've even bounced down to 27 and we can see here before got a

Nice bounce on this point here 27 a bounce here 27 another bounce here 27 this seems to be the time to long so I would say conservatively that we are looking potentially at bullish day but what are we looking at kind of

Through the week ahead and what sort of levels should you be focused on so what I'll just do is I'll just take off the fib and I'm gonna use at swing low swing high low by pattern smart great little indicator and what this can

Show us it can show us kind of dynamic support resistance that we've had and the blue is obviously the support really assistance is denoted by red and you can see here that this was a previous resistance zone that we bounced at so

There we go got the red previous resistance now it's support so hey and this has been a pretty much just check out this line you can see it really clearly let me just get a different color so we can just kind of circle

These and I'll just show you one to show that support them support resistance support resistance resistance resistance so right now we are on a pivotal price which frequently switches between support and resistance this could be

About price this could be the time to go long hey but where are we going to go if we go long anyone's guess really I wouldn't want about just want it big like anyone's guess really I would have to say that right now in the immediate

Short-term for just take this off and drill down to the hourly and drawings less the second quick look and reset the view let's take a quick look at what it what looks likely so now going to draw a fib from this dump here all the way to

The bottom of this wick here and what we can see here is that we've got a nice six one eight zone of nine thousand six hundred eight nine thousand six hundred and fifty percent at nine thousand four hundred and sixty nine and three eight

To nine thousand three hundred so these are my three targets right now 96 95 9 350 basically that's kind of where I'm looking at for Long's on the downside like I said 7600 absolute worst case but I can't see it

Happening because it just isn't the activity on the order book but what you can see on the only book is obviously where people are selling as well if you just drill down to the hourly on there and what we can see as we can see that

There are cells back up around about the kind of 9,500 zone so 9500 looks like the most likely place for the de price a bit going to go in the short-term so I'd be identity longing to that point lastly

Just wanna closes out with my indicator probably sniper 30 if you're not yet familiar with it it's not just an indicator this has been optimized for trading with our own proprietary software called cat just crits o algo

Trader same cat would be available on any indicator you want right now you can only get it with profit sniper and it has had a rip-roaring six weeks 1345 percent profitability despite all of this monster shop that we had over the

Weekend look at the oscillate your hair just constantly coiling up before a big move but it still called too short just before it and went from 9400 it locked a profit around about nine thousand three fifty not a great price there but if we

Hadn't had the profit Locker on it would have written it all the way down here and would be looking at a nice zone eight thousand and nine hundred so a kind of $600 move they're all called by this indicator and it would

Automatically execute those trades for you so come and check it out there's now a seven day free trial over profit sniper comm I could barely say that and I'll be back with another video on some more assets because one of the things

That we are adding hopefully this week is the automation of trading XRP eos pandey theorem or via by bit links below gonna live at that on a schedule soon peace

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