by birtanpublished on August 25, 2020

oh wow convicting get a weekly candle close in the golden pocket of the last two-and-a-half years for the first time since February 3rd of 2020 Bitcoin price charts are actually hinting at an

Exciting breakout one of the most exciting breakouts since the summer of 2019 Bitcoin currently testing the top of this 2.5 year resistance yet again the third time in just days what are the chances of Ikhwan explodes

And what are the chances that maybe it doesn't explode we'll take a look at what specific target Bitcoin would have to reach today to really indicate bullish momentum and more specifically what weekly level that we have to get

This candle to close at just in a few hours coming up here for this to be a very bullish close on the weekly yet again how close are we to breaking this entire cryptocurrency market cap triangle it may be closer than you think

And as well the Bitcoin transaction fees are soaring after the Bitcoin having what is the purpose of this what is the downside and in fact what is a maybe solution to this happening let's get into it

Wow what's going on everyone welcome back to another exciting episode we have a lot going on today in fact maybe Bigpoint is pumping yet again what are the chances that we do see Bitcoin break above 10k we're only a few hundred

Dollars away as we record this video and again is that a bad thing because will we be creating a gap to the downside while so much to get into today guys a lot going on if you knew the channel make sure to leave that comment like

Subscribe so you can enter to win this ledger and as well guys we're still doing a sale on our best course yet guys make sure to enter juice at checkout wow guys and as well this is the very last day to get 50% off your ledger nan OS

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Description check it out wow absolutely huge guys so let's get into this data here we see Bitcoin actually breaking above 98 currently it's actually a little below that but will we continue to see this pump over the next roughly 8

Hours from the time of me recording this until we get the close on the weekly these weekly candles are primed and specific the target we want to look for for this weekly candle to get a very nice healthy

Clothes anything above what we've been talking about okay ninety two hundred US dollars currently we're almost six hundred dollars above that and we have as I'm recording this about eight more hours until we get the clothes for this

Weekly candle little Bitcoin be able to close above that level I think there's a pretty good chance unless we would get a massive dump in just a few hours here what that would do is signal some nice strength on these longer-term charts and

As well we could continue with this potentially massive MACD crust you can already see this bad boy is just full of life so far on the MACD we want to see that happen there are people talking about a golden cross on the daily that

Hasn't come to pass just yet what are the chances that happens it has happened in the past where we get death crosses and golden crosses that actually do the opposite of what a lot of people expect so for example some golden crosses

Actually dumped the price and some death crosses actually have pumped the price slightly okay they can be false indicators but for the most part they can indicate very strong shifts in momentum and guys really just to sum up

The rest of the weekly chart we've had such strong bounces on the 200 weekly the 100 weekly moving average and as well even most recently the twenty one week moving average so overall the momentum is really shifting to a very

Good level here I think it's very likely that we could be in that we could potentially be in this actual disbelief phase where guys you know what happens after this absolute rally mode I think it's the perfect timing for what it

Could be and as well there's absolute disbelief in these markets people are just not ready because they've suffered through two and a half years of fake out after fake out but guys are the good times just around the corner yes we

Definitely think that is very likely the second half of this year okay coming up very soon and especially the whole year of 2021 I personally think is going to be absolutely game-changing game-changer status for cryptocurrency not just

Bitcoin guys because you know we love Bitcoin but there are some select few alts that will definitely pump and for the most part most likely a lot of these coins could be pumping at some point they won't have the longevity at all of

Bitcoin but you would be foolish to say that over the next two years Bitcoin will be the only coin that increases substantially there will be a handful okay in my opinion for sure it's up it's your job to find out which ones those

Are so guys as you can see here we are just still doing it after finding support and support on these higher lows right here we've gotten like higher lows we've gotten lower highs consolidation pattern guys a break is

Coming a massive break and overtime it's looking more and more likely that break could actually be to the upside absolutely massive so let's zoom out you guys can see again this is it's still testing this it is still testing these

Highs here it just wants to it just continues the moving averages on the daily continue to support specifically the 21 daily simple moving average continuing to support Bitcoin and it just wants to push this thing higher now

Keep in mind guys if we do get a nice pump within the next few hours or before the CMA opens tomorrow again what that's gonna do is create a gap here for example let's say we go to 10,000 let's say we open up at 10,000 on the CME we'd

Start the price here and we're there be a gap in this area here so again gaps tend to be very reliable and we could come down and fill that during the week if we do pump which again is not not something that would be unexpected if we

Break 10k and if we break this long-term trend here in the short-term this trend specifically we would most likely still have some sort of a pullback on our way up anyway because we would want to test and make sure that's actually a valid

Support and we could see a very big wick to the downside like we saw a pretty big very clear filling of this gap pretty much to a tee guys see completely fill the gap exactly then went back down now importantly here on the weekly we're

Actually in this golden pocket of the last two and a half years of this macro trend like we can zoom out and show you everything here we're still within this trend and actually for the first time we might be getting a candle close within

This trend we've gotten wicks last week we got a wick and the week before that we got we got rejected off of there but we could be actually getting a wick closing as long as we close above 9600 okay so right now we're about $200 above

That as I'm recording this if we close above 96 then again that's even more bullish the 92 is something we basically need to close above to be short-term relish but then again if we're close above 96 that is even much much much

Better in my opinion the last time we had some closes here we had four closes for weekly closes here back at the very beginning of February so three months ago and then we got completely rejected out of this golden pocket so that was

Our first major rejection out of this two and a half year golden pocket in a very long time now this is a crucial area again because we could be spending some time trading in these levels or we could end up just blasting right past

This golden pocket because specifically this level that we're at now is exactly what the golden pocket is now and it was not back here in February okay it was a little bit higher back here in February so it's make-or-break

Time do or die right or fly time and overall for the health of the market that's what we want take a look at but guys let's take a look at this article now about bitcoins price chart hinting at a massive break out here Bitcoin

Price charts hints at one of the most exciting breakouts in over a year so if Bitcoin closes above what we agree with the 9211 it's very bullish so let's actually go over some of this info here the renewed post having retail interest

Certainly does look like it helped and potentially even JK Rowling tweeting to fourteen point six million followers asking about Bitcoin may have been interesting but this is what I really want to point out here it definitely

Could have sparked public interest in Bitcoin renewed the public interest though if crypto Twitter didn't blow it by acting like absolute donkey's absolutely knuckle heads with cringe replies that no one found funny

Let me know what you guys think about that so I haven't talked about this in the video or mention anything about it but do you guys personally think the way that a lot of people responded to JK Rowling aka the creator of Harry Potter

About her question about Bitcoin apparently I mean I didn't participate in it I think it's kind of silly to start you know spamming her but pretty much everyone from what I've seen was just like tweeting at her anything they

Could there were you know thousands of replies to her and I'm just curious do you think that was good or bad exposure for Bitcoin technically anything is good exposure technically any exposure is good exposure you could say but at the

Same time do you think that she thinks that the crypto community is worse off now because of that interaction or if do you think that maybe she's more likely to be interested in researching it I'm really curious because apparently

Apparently a lot of people on Twitter were acting kind of crazy each week that supports get lower within this channel so generally while this author is bullish on Bitcoin he does not think a breakthrough above 10k would hold for

Long and that's kind of what I actually just said early in the video if we break 10k we'll probably come back to retest some levels before absolutely blasting off anyway when you break major major support like that it's not just straight

To the moon there's usually a time where you come back and the market decides hey do we really worry really supposed to break this and if so continue and if not you know you get rejected again so to sum it up closing above 9200 today would

Be the single most bullish sign Bitcoin has seen since this author says before the 2017 boron this would put in 99 80 as the next level of resistance so basically the is a huge area it's very crucial that we

Get a very important break here not manage to hold above 92 could push us actually back to about 8800 which is what we're talking about as had to hold his support over these last few weeks and it has so far but that would

Actually be a short-term very bearish sign on some of these daily and for our indicators here and guys well Bitcoin transaction fees sore after bitcoins having the average transaction fee continues to rise so let's talk about

This a little bit because if you guys remember if you guys were here back in 2017 some of you were some of you weren't one of the big brought one of the big problems with Bitcoin and something that

Really slowed down or just completely you know ensured that Bitcoin was topped out at 20k is that transaction fees were ridiculous they were extremely expensive and they were extremely slow it could even take days to receive a Bitcoin

Transaction back then everything was so clogged up I remember looking at I remember people reporting on it it was an absolute it was chaos now obviously Bitcoin has gotten better since then however you can see it is

Getting a little clogged as of like all the hype of the last few days especially the having the average fees continued to soar post having average fee hit an 11 month high of over $5 on May 15th and May 14th the blockchain mempool is

Backed up with 56 megabytes of unconfirmed transactions average transaction cost increased over 160 percent in in four days alone Bitcoin fees have been on the rise ever since especially since the ramped up of the

Block or Ward having typically the transaction fees on the Bitcoin network experienced heavy usage competition for space in these blocks causes a race to the top as users compete to have their transactions included in the next block

So an increase in average transaction fee forces users to choose between sending transfers that are fast but expensive or cheap and slow so pretty much you have to pay more money if you wanted to get through faster and that'll

Never change however again the fact that it is getting clogged up a little bit is not the best sign and again whether you guys like it or not Bitcoin has a lot of life ok years and years of promising advancement ahead of

It in my opinion however in the meantime you would be kidding yourself if you didn't think that people were not going to speculate on other cryptocurrencies and in fact those cryptocurrencies would also get massive valuations

Okay even if they don't deserve massive valuations which most of them do not most don't but that doesn't mean they're not going to get those massive they are some of them will okay don't be a nincompoop guys awesome well thanks so

Much for joining guys make sure to check out t4 in the description as well get your ledger guys it's the last day for 50% off you would be silly if you wonder one of these to not be buying right now this is the perfect opportunity keep

Your whistles wet and let's get whistling

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