by birtanpublished on September 2, 2020

big juice alert Wow with bitcoins monthly candle closing yesterday have we now also cemented a double bottom on the weekly similar to the last time bitcoins at these levels in addition crossing a very important 21 and 20 monthly moving

Average you can see here on this pink line is there evidence that we could be surging higher from here on out and before that happens could we see a retracement back to this $7,000 range Bitcoin is now three days above the six

Year structural line again guys absolutely crucial let's take a look at that because there's a lot of things going on with the charts pointing to this and how important it is and is what we're finding some descending support

Right now here guys we added this line as of like the the 13th of these are sending lines guys absolutely critical we'll take a look at that and on the weekly we mentioned there's about two days ago but this crucial MACD cross

What does this mean will we see large amounts of green like we've seen in the past guys will it happen again and big juice alert could we see a ten thousand-plus dollar bitcoin by the end of this new month guys 31 days could we

Be seeing that the final week or two of May let's get juicing Wow what's up going on everyone happy May 1st everyone out here 2020 a lot of exciting things coming up on the agenda guys very and crucial important stuff could Bitcoin be

Initiating some of the best eight months in bitcoins history for the remainder of this year guys so much again – there's so many things especially on the bigger timeframes but with that being said when you look on the bigger timeframes

It's important to note that there is short term volatility that overlooks it just means the overall trend is incredibly strong we can't wait to get into detail with you on a few different charts it's absolutely wild and as well

You guys we will be announcing the winner for this bad boy in this video and if you want to enter for it this one make sure to leave a comment below hit the like subscribes turn on the dings hit the comments

And as well guys if you're located pretty far away from me we just send a Bitcoin instead which is what we did for the winner two days ago and guys absolute big juice alert make sure if you haven't already hit the ping comment

Join the discord a lot of cool trading talk and a lot of useful information it's been up for only a few days now have almost 500 members just in the last few days so much awesome stuff guys very cool Wow now let's start sipping that

Juice guys so so much cool stuff to get into I almost don't even know which chart to start on but let's actually start on this one so this is the weekly chart here on bitstamp this is critical so the article that I'm going to go over

With you there's some absolutely amazing stuff this is a very beefy chunky article so many important things we have some very bullish people's takes and some very bearish but guys you're not even gonna be you're gonna be shocked

With some of the bearish takes because they're barely even bearish even the bearish takes in this article are not even that crazy the lowest for a really bad bear scenarios like the high six thousand dollar range so I'll get into

That here but they mentioned this MACD that I mentioned a few days ago as well we have this cross right here and we already see a little teeny-weeny little green forming right here so I think this could actually be a very bullish sign

When we combine that with about 10 other things a million other things on these weekly charts for the rest of the weekly chart I actually want to switch to this chart so when we had the last double bottom okay leading out of the bear

Market into an absolutely explosive rally that we've never seen before in any market which culminated at the end of 2017 beginning of 2018 for Bitcoin and altcoins guys we had a double bottom and what's interesting enough is we had

An initial bottom right here around 165 US dollars and then a few months later we actually had a second bottom at about 200 dollars now interesting really enough the difference between the first bottom and the second bottom was right

Around 20 percent so what that means is there was a bottom and then there was a second bottom a higher low okay 20% higher than the initial bottom here we have our first bottom which is around that $3,100 mark that we had as recently

As November of 2018 and now this second seeming bottom that we have gotten guys absolutely explosive volume right here this is a better illustration here for the explosive volume here okay this was the recent one that we saw but as

Oh this one right here where's the next highest one here right here which was the first one back in November of 2018 and really the only ones higher than that were right here which were literally telling us oh wait we've hit

The top right around like that 20 between 15k and 20k so that's what these candles are this one was our first bottom around 3000 it late 2018 and this was our second one back in March just about two months ago well it's already

Been two months since we hit since we went down to the three thousand dollar range that's crazy so Wow so what's interesting here guys so what my point was we had two bottoms and they and I think that's a really healthy sign in

General we have a bottom on these macro timeframes this is the weekly I actually see it on to the two we are the two week as well you can see it actually Illustrated nice here but I want to put it back to you know what we'll just keep

It on the two week 20% difference as well same thing here as this last bottom we had an initial low and then about 27 20 percent higher was the second one and then we have this initial low and right here the second one about 20% higher

Than that one so to me I think that's a really really important sign and even on the two week what I think is interesting here is we're actually still above that but on the weekly I think this is the more important and more valid one the

Twenty one week instead of the twenty one two weeks it's kind of weird the twenty one week we are above this twenty one week moving average which is absolutely important right around the 7800 is where that is and that's why we

Think a really good level of support moving down if we get a pullback because it most likely we will get a pullback within the next week or so because we tied a crazy crazy rally I think overall this momentum is pushing us up but I

Think it would make a lot of sense if we had a pullback in the short term okay we're talking like a week or two from now I think the 7800 would be perfect and that lines up with a million different things on these one-day charts

But specifically on the weekly that's why it's so important there as well the macro the macro timeframes the bigger timeframes higher time frames are always more important than the smaller timeframes now what I think is really

Important here as well guys so this is something I've been talking about exclusively for a while this six year trend I love this so last time we really will obviously be plummeted through it we were trading here for a few days back

Right before the massive crash to down to like the 3 K region about two months ago now before that the only time we touched it at the very very bottom right here what was the price in about 6500 at the time

Which was where the head was formed to the inverse head and shoulders that broke out and plummeted and jumped us like five thousand or four thousand US dollars there and then the times before that the only times it touched there was

The ascending triangle here that broke us up to like 1415 K back in the summer of 2019 so and again guys we could even zoom out even further I mean this thing has I mean look at this it's still touching all the way back in the year

2015 so really important so I personally still think this is huge that we're above this again like I said in the last video in even the short term we do get a small rejection and go below it you know that wouldn't even be necessarily too

Bad I think overall though it would be the best case if we just continue to hold there but let's say we did get a pullback down to that 78 a lot of people would be panicking and I want to say this now a lot of people would be

Panicking going crazy but that would not be the end of the world we could still see I mean so much structure is still put in we could actually even go down to the low 7,000 s and this still be bullish I mean look at this currently

Actually where is the point of control in the most recent time right here it's right around the 7100 right around here which is also kind of where the the shoulders and in between the middle of the inverse head and shoulders were the

Most in the most traded area right there and the last thing I want to point on these charts before we get into something really really important here is just this the Bitcoin chart these descending lines this is a descending

Channel really that we've been in since we've turned to bearish after that pump in the summer of 2019 culminating in about June very last few days of June 2019 here been going down basically ever since we've been in this channel ever

Since now this is the most important of the entire market because if we break this white line then we're setting higher highs okay so far we've been setting lower highs okay first one back here second one third one now these are

All really important pumps this was the pump of the summer of 2019 up to about 14k this was the top of the entire market all-time highs 20k and then this one right here was the most parabolic of our last run where that numers Head &

Shoulders broke out two back in the middle of February right around the 10.5 K so 10,500 is where that one was again if we were if we would break this guy's this is this would be setting a first higher high so that would be absolutely

Nuts currently we're only a few thousand dollars away from it I don't think it's gonna happen this week that's why we're gonna jump into this article that shows some evidence that it could actually very well be

Coming at the end of this month which would be crazy there's no doubt in my mind and many people's minds that the further we go on to this year the more more likely it is to be bullish as opposed to the last two

Years where basically it was more and more bearish throughout the entire year okay we're now in my opinion at the very very very early stages of what is going to be a long two to three year bull market potentially the likes of which

Nobody has ever seen absolutely huge now let's jump into this absolutely amazing I wanna give a shout out here at Joseph young yet again absolutely killing it with these amazing articles here on coin Telegraph let's jump in I have some

Highlighted points that I want to show you so market data indicates that less than two weeks before the halving the structure of the crypto market has shifted from being driven by futures exchanges to spot trading platforms we

Covered this in the last video this is a healthy transition from over leveraged trades to organic spot trades and they can build a very strong foundation for a bull rally okay skip down a little bit the narrative around the having could

Actually be over the plate so we're gonna inject a little bit of bearishness a little bit of you know bring us down a little bit right here because the having that occurred in 2012 and 2016's having bitcoins price did not react

Significantly until you know months after sometimes up to almost a year after the having before it went crazy however the one thing that I want to add to this is that nobody really cared for the most part nobody cared about the

Having in 2016 and barely anybody even knew about Bitcoin back in 2012 so it is first of all it's a completely different environment and to think that things will not change at all as we move throughout time same things go same

Thing goes for the charts I think there's some really good consistencies between the last charts but to think that it's going to repeat exactly is just kind of silly I think and to think that we would have to wait maybe six to

Eight months after this having to see some blue momentum I think could there could there could definitely be some flaws in that thinking considering how different the environment is everybody involved in Bitcoin knows that having is

Less than 10 days away okay huge so in two previous having's Bitcoin showed strength by surging to within 40 percent of the then all-time high levels in each of these prior events Bitcoin carried on upwards for over a year and then a

And a half reaching all-time highs along the way Bitcoin looks to be starting the current track actually as of right now according to this the medium term trend of Bitcoin is optimistic so T's here the trader emphasized retest of lower

Support levels are unavoidable I agree with that I think we're gonna see pull backs here and you know you don't just go up forever he's saying here as long as we remain above the $7,100 support level and avoid a downturn to the mid

Six thousands okay is very bullish and I agree with that that makes a lot of sense and he says if we can do that then a target of ten point six which would break this chart that we showed you here which would break this chart okay we

Would break this if that happened he's saying that if we can hold the 71 then we could see that by May okay we just started May this is the very first day of May and if that holds within the next 31 days we could be seeing a retest of

That guys and I absolutely think that's the case there's never been more hype around to having more optimism and more people euphoric about the future of Bitcoin than there is right now so then he's talked about the MACD which I

Actually talked about in the other video and actually this video I mentioned that earlier he talks about some resistances here around the nine thousand two hundred ten thousand four hundred and eleven point for granted the higher you

Get the less and less resistance there is because there's less and less traded volume up there especially after breaking ten point five you completely break that triangle okay after you break that it completely goes nuts I think

Okay I think if we even break 10k it'll be nuts but um to pretty much finish it off he says I don't think it's likely to ever see four thousand five thousand ever again especially after the halving however a healthy retrace seems

Reasonable and again he points to the two hundred week okay something we talked about but then there's some bearishness and the only thing I really wanna cover there is that they're basically calling for six point eight

Six point four in their bearish targets there but guys let's say this will just throw out a crazy scenario which I don't think is likely I think it's the least likely right now if we would break like the six point five then maybe who would

Still be in an extended bear market which again guys I just don't think makes the most sense the only way that could ever be a reality in my opinion is if somehow the global markets everything around the world everything with Bitcoin

Included traditional finance literally everything if that all just completely collapsed okay that's the only way I think that could happen so I just want to throw that out there because technically it's not impossible just in

My opinion extremely improbable but yeah ends article here the note of noticeable increase in demand for bitcoins shown by a massive rise and spot volume an institutional interest okay because spot

Volume can also still include institutional interest I got some comments about that you know institutions can still be buying Bitcoin and that doesn't make it invalid there may serve as a proper

Basis for a long lasting rally despite the 163 price increase since 3,600 about two months ago a continuation of a bullish trend for Bitcoin cannot be ruled out so guys when I copy the link from yesterday's video

Okay we're gonna enter this here get the YouTube comments let's see if it says 241 I'm gonna flip out okay cool alright cool cuz it's been saying 241 for like the last two or three giveaways this time it says 359 now let's pick the

Winner no way action node Malaysia says above 10k by next week so if you're in Malaysia action node Malaysia let me know and I'll send you Bitcoin because honestly if I sent you this ledger it would probably take you weeks to receive

This and you would get it much faster if you just bought the ledger with the Bitcoin that I can send you because the ledgers are actually manufactured in France that's why they ship out of for anybody wondering from the official site

Where we get them but Wow very cool awesome way to end the video above 10k by next week I'll say above 10k by next month okay by the end of this month so guys thanks so much for watching make sure to go to the pinned

Comments in the description and join the discord community wow let's grow this

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