BITCOIN BREAKS $9,000!!! WHAT Does This ACTUALLY Mean? WHAT’S NEXT ISN’T What You Think

by birtanpublished on September 30, 2020

that's it I've had it if it's not your
body it's not your juice today Bitcoin
breaking back above $9,000 for the first
time since February 26th but is this the
last time that Bitcoin will go below
$9,000 or as we talked about yesterday
is there still some targets that need to
be fulfilled before we can truly reach
mega blast off we have to talk about
exactly why this pattern ended up
breaking up and what are the targets if
this continues to rise looking on the
daily chart here you can still see we're
significantly you know about a hundred
and fifty two hundred dollars away from
the target that we've been mentioning
for the past week and a half of this
50-day moving average here on the daily
chart and as well here on the weekly
like we talked about in yesterday's
video the last time Bitcoin came down to
this line as well met with this 21 day
sorry 21 week moving average it did have
a mega bounce are we in for a similar
mega bounce or is it different this time
so fill up your sippy cup my juicers and
let's get juiced whoo thank you guys so
much for joining me here on March fifth
for this Bitcoin update Bitcoin as of
today is broken back above 9 K over
there is a lot going on on these charts
it's not as simple as that there's so
much going on and really is there still
some more targets that we need to
achieve or are we in the clear and we're
ready for 10 K 11 K plus is that what's
in the books or in fact is there other
things we have to take into account and
take a look at so if we want to get
bullish I definitely want to refer to
the tweet here guys we have so many
moving averages that we just would need
to get above to really cement any sort
of short-term bullishness huge so we
have to talk about that in this video
that's gonna be the primary discussion
is is this 9 K going to hold or is this
9 K just going to get pushed down like
it has many many times over the past few
weeks and guys congratulations to
yesterday's winner if you did want to
win this ledger however all you do is
leave a comment below and if you're new
make sure to subscribe like turn on the
dings and let's do this as well you guys
thank you so much for everybody getting
in on this course this is huge I'm very
excited and proud of this and we have so
much more coming at the end of the week
to be added to this course this is only
the first round but the deal is if you
pay once you have it forever and as well
as still 50%
guys not gonna last much longer well
let's do this so I actually want to
start out on this chart and before we do
I just want to say this again guys this
is a this is really such an important
level but I mean the really key thing
here is there is there's so many mixed
opinions going on in the market right
now based on this technical analysis
itself it looks as though Bitcoin should
have bottoms now we have that having
coming up very soon so just going off of
that and just going off these solid
technical indicators that we can see on
the daily for our one-hour charts it
looks like Bitcoin needs to basically
bottom here and that's what we've been
saying for weeks now however there are
still some downside scenarios that we
cannot take out of our minds because if
we did and we dropped below you know
eight thousand or something like that
people be freaking out so you just want
to be aware of what these targets would
be and it would still remain healthy now
again those targets don't include
anything like 1000 or 2000 u.s. dollars
that'd be way too low that would be
insane if that happened everybody would
be panicking nobody would have any idea
again I don't not think that's going to
happen at all even the most bearish
people think we're still going to be
attaining all-time highs by next year
okay so even incredibly bearish people
still think you know within the next
twelve sixteen months we're gonna be at
all-time highs so overall this space is
pretty bullish for the most part pretty
much everyone even the most bearish
people in the in the long term are still
extremely bullish what we're talking
about here though is actually climbing
and trying to retest 10 11 12 maybe even
14 and 20k going into the halving and
then maybe even shortly after the
halving so that's a much more short-term
bullish outlook in for that to happen we
need to hold where we're at currently on
the weekly chart okay so we have again
we have the 21 week moving average
absolutely vital and as well guys the 50
week moving average I'm highlighting you
here so you can see where it's at
they're literally both at the same spot
they're both providing support for
Bitcoin here and again the the stock
markets everything was going down at the
beginning of this week I only pull that
up here right here in fact it's not
actually doing that good today but
bitcoins doing good okay so we see maybe
a little bit of a decoupling on the
short-term for at least today I think
that's a really good sign
most importantly though this area I
think held because there's so many
technical reasons why it had to hold
besides that okay so besides these two
key weekly moving averages which again
weekly moving averages are a lot more
powerful than for example
like a four-hour moving average or a
one-hour or like even a daily moving
average again weekly moving averages are
the most important I think for sure and
specifically the twenty one but also the
fifty is right exactly where the twenty
one is so that just adds more support in
my opinion to that exact area so that
just makes it all the more important
there and as well we have the structural
trendline that we've had on here we've
been talking about this for literally
six months now this pink line okay this
is absolutely huge so that's that's
exactly right there as well I actually
want to transition to this other chart
now so this is a daily chart and we've
been talking about this we've been
putting our downside targets on this
chart really highlighting it on this
chart if we want to be short term
bullish though and this is what we said
about maybe like five or six days ago
even saying this for a little bit I mean
it's it's also kind of obvious
everybody's saying this cuz it's just
the most obvious thing on the charts
right now is on the daily chart you want
to get back above the 50-day moving
average this blue moving average right
here now again to do that you see
there's quite a big amount of volume
here on the V PVR
you can see below us was right around
this like area where we did balance the
eight point six eight point five you can
see large amount of volume right there
we can see right here this is the next
highest amount there's not much you can
I'm actually like tracing it here you
can see not much in this area here but
again for this area really spikes out
right here so I can just highlight it so
you guys can see this illustrated the
volume levels so I just traced kind of
where the high volume is on this white
line so you can see if you can't see it
already but basically yeah you can see
right here absolutely important and
again that's right exactly where this
50-day moving average is now it's kind
of gone up over the past few days the
moving average you can see it's kind of
been on its way up right now it's
starting to level out so over the next
few weeks depending on whether Bitcoin
does it's gonna change your vector there
but right now that's so important again
I'm not gonna remain I'm not going to
get I'll basically say this I'm not
gonna get very short-term bullish unless
we get a break and then a close or at
least hold for a few days maybe sideways
action on this 50-day moving average
it's so important right now I think
that's the main thing we need to look at
on the daily chart for sure we also have
some support right here actually right
around the 92 as well this horizontal
support line have this on here and if we
go back you can see this was key here
actually back in the run in the summer
of 2019 and there are some past previous
resistance that turn support levels
right around that area as well so again
that's just super important there if we
want to push up from where we are now
we're gonna need to get above 92 I think
this is great we're currently at 90
91/30 it looks like but another hundred
dollars would really cement this if we
would be able to break above this and
potentially if we did break above that
it might actually go a little bit higher
maybe like 94 95 even and then over the
next day or two come back to test that
92 and I think that'd be crucial and
then if we did do that and if we did
bounce up then we could actually start
talking about okay where could this move
actually be taking us and what exactly
could happen and again if we switch to
this chart you can see this very nicely
so you can see the same thing here at
the twenty one day and the fifty day
right at the same spot on the daily
chart okay on the weekly you saw the
twenty one and the fifty weekly charts
they were exactly the same the twenty
one and fifty day weekly moving averages
but here you have the twenty one and
fifty day daily okay not weekly daily
moving averages also basically in the
same exact spot right at that ninety two
ninety nine high ninety two hundred is
like ninety two ninety three hundred
dollar level so best-case scenario to
get bullish right now
break here maybe even a little bit above
it in that wick you know if there's a
lot of momentum and a lot of exuberance
for that run again maybe a few days go
by could come back test this for support
and then if we could do that I think
that'll be a lot healthier to head back
up and this by far is the most key level
I don't necessarily think we actually
need to test ten point five again to get
really bullish I think we'd only need to
test ten point three right here okay
because of this sloping resistance line
that we've had since the all-time highs
of twenty thousand US dollars you guys
can see that here here we go I can
circle the whole thing here for you this
line has been sloping resistance we've
actually touched it over four times now
okay we have it here we had multiple
touches here and then again here and
then again just recently about a few
weeks ago here so again that line I
think is very important and I don't
think we would need to actually touch
ten point five again to get really
bullish we could have the breakout being
confirmed a little above ten point three
so again we wouldn't necessarily have to
get back to where we got just a few
weeks ago to get really bullish and to
get excited for a breakout I think that
breakout could be confirmed if we would
test this maybe if we had to come back
maybe test for support and again that
would be extremely bullish this is more
important I think than the ten point
five level itself and I didn't want to
talk about this too this is really
interesting so this pattern here the
following wedge that did breakout now
this has been going on for a few days
okay so I talked about this a little in
yesterday's video this consolidating
pattern between these moving averages
you can see this touch so many
here one we came down here to there was
like four touches right there but then
three four four like multiple for our
candles and then you saw it consolidate
so much into this area and it basically
had to make a move I was watching this
last night and I thought you know what
this has just consolidated so much
something's going to happen I didn't
necessarily know if it was going to be
up or down honestly you don't it's hard
to tell sometimes but again this was it
break up and you can see where it's
finding resistance right now is where it
found some support very for about 12
hours back on February 25th and again a
lot of support back here on January 30th
as we were making that climb to ten
point five so really important there
guys very interesting to watch what do
you think do you think this is going to
be a run to 10k or do you think we're
still destined to maybe come back down
to the low eight thousand dollar range
before you really get things kicked off
so guys thanks so much for joining and
as well thanks so much for joining the
course guys so many great things I'm so
excited for everything else we're gonna
add to this been hearing back from a few
people they definitely been enjoying it
and again 50% off code gugak it's just a
50% off code good

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