by birtanpublished on August 25, 2020

Hey guys what's going on jeb here and in today's video we are going to be doing some more shorter term technical analysis on bitcoin because as you may have noticed over the last couple of hours bitcoin started to break bearish to the downside

But in fact it decided nope we're going to continue heading to the northwards direction as bitcoin has been moving towards 11 800 once again overnight you may remember two days ago i said within four

Days i am expecting a breakout of bitcoin above 12 100 and for a while there it certainly seemed like bitcoin was not going to do that but now that we've about 48 hours left on my prediction we're gonna find out whether

I was right or wrong pretty soon i do believe and we're going to be discussing all of that and more in today's video guys i have some good content lined up for you i'm really excited to jump on into it so we're not

Going to waste too much time before we get started i do want to briefly mention the cryptocurrency technical analysis academy guys ct2a is the place where i've poured all of my knowledge and my three years of expertise in these

Markets into one academy teaching you guys absolutely everything you need to know to lay a strong foundation of your understanding in the cryptocurrency markets if you guys want to get started trading

Profitably then you're going to need to invest in your education and c2a is a great place to do it links in the description down below use the coupon code bull run 2020 at

Checkout but anyway without much further ado let's go ahead and dive right on into it as you can see i got a haircut and as

You can also see i haven't really done what i meant to do with it but i think it looks alright tell me what you think in the comment section down below my hair is just crazy it's all over the place and i

Don't know exactly what to do with it now that it's shorter i can try and pull off some kind of style so let me know what you think in the comments down below anyway let's get on to the chart

Uh yeah let's do it guys last several days on bitcoin have undoubtedly been rather neutral as you can see bitcoin has been trading sideways right around that level of resistance of 11

800 now remember in yesterday's video we talked about the question why is bitcoin coming up here and consistently testing this level of resistance if it wasn't going to break it

In general it looks like oh we have one test and two tests up here but actually if you zoom in a little bit we have one test two three and four on this zone of resistance so why does bitcoin keep pushing up here

With higher lows if bitcoin is not going to break through it furthermore as you can see bitcoin broke below this very very clearly defined uptrend yesterday and instead of falling all the

Way down to 10-5 like we said might happen bitcoin instead bounced and rallied back up above that level of resistance and as of the last five six hours or so bitcoin is actually sitting above it now

Where it's gonna go for the rest of the day that's anyone's guess but really all we've done is redefine this uptrend as something like that bitcoin is still in this pattern and still doesn't know

Exactly what it wants to do we are still in consolidation as you can see right here one thing i also want to mention is the bitcoin has a really ugly but nevertheless a factually accurate head and shoulders pattern right there

So let's watch and see how this right shoulder plays out this might result in bitcoin pulling back to the downside but for now though guys i'm still sticking to my guns i am still sticking to my prediction

That bitcoin is going to break above 12 uh 12 1 within four days which was two days ago so there's two days left on that whether or not i am accurate on that we shall soon find out but

Guys even if bitcoin does break to the downside i want to remind you of two things number one you can make money when bitcoin is moving to the downside bear market trading is one of the most

Important skill sets that you will ever learn because if you can make money on the upside and on the downside you're golden all you need is volatility that's where pro traders are born you can't just be

Sitting out half of the market because the market's pulling back that is not a profitable way to work in the space but number two also you got to be careful about investing more than you're willing to

Lose i got a really unfortunate message from one of our first cohort members this morning and he was talking about how he lost a lot of money he invested more than he was willing to lose he broke the golden

Rule and it really sucks at the end of the day guys i want you to remember before something like that happens to you is that you cannot go and invest more money than you're willing to lose

Because even though i might be predicting that bitcoin breaks to the upside let's say you go in a 50x long right now and you're expecting bitcoin to break out because you just think that i'm

Perfect which by the way i am not i am going to make mistakes from time to time let's say you go and you make one of those trades and you lose it all because you invested more than you're willing to lose guys i just want

To make a point here in this video please be careful of that please don't let that happen to you anyway back onto the analysis one thing i also want to bring to your attention is that on the four hourly chart down

Here it does look like we're about to have a bullish macd cross and as we can see just several hours ago we saw one around midnight last night on the hourly chart macd guys you just need

To be paying attention this downtrend right here and this uptrend right here guys the technical analysis is not that complicated today it's literally just wait and see which direction bitcoin breaks out

And then make a trade based on that sit back enjoy some coffee watch some pewdiepie videos read some memes on reddit i don't know just do whatever you want to do put it all up on your second monitor

And wait for the breakout and put the trade in it's really that simple guys sometimes we need 40 minutes of technical analysis in a video and sometimes we need five right now

The trend is your friend till it ends the trend is to the north bitcoin is in the consolidation pattern bitcoin is also in a diamond pattern which can be construed as a bearish thing

But in general everything's pretty bullish on bitcoin we've got a breakout coming in the next 24 hours wait and see what happens that's literally it that's all i got for you i'm sorry

But look the the point i want to make in this video is more than technical analysis you guys know i try and talk about more than just technical analysis in these videos and something i want to make sure is very abundantly

Clear is the golden rule of crypto never trade more than you are willing to lose guys there are a lot of people that are newer to the channel we just passed 50k subs yesterday and we're

Already at 50 and a half which is crazy so i want to make sure you understand the golden rule that i've not come up with you've heard everybody talk about this but i'm going to harp on it because very important is not investing

More than you're willing to lose because like i said i got that message from one of my friends in the first cohort and that really hurts to see him in that state look i know you're watching this video man i'm

I'm really sorry guys where there is opportunity there is risk and where there is risk there is opportunity you have to understand that that's a duality it's a tai chi too it's a

It's a yin yang symbol there's they're intermixed and intertwined and you can never separate them where there is opportunity there is risk and where there is risk there is opportunity there's a lot of opportunity

In bitcoin but there is also a lot of risk and you need to understand that before you jump in this space because when bitcoin's in a bull market the way it is right now

It's very tempting to say i'm going to sell my phone i'm going to sell my watch i'm going to sell my car i'm going to sell my wife i'm going to sell everything and i'm going to put it all in bitcoin

I'm going to go long and i'm going to make a bunch of money and then you don't because you're not good enough yet i just i want to be brutally honest with you guys be careful

That's the whole point i'm not going to keep harping on this in every video but i did want to bring it up today because that was a really sad text i got on discord from one of our friends over the first cohort

Anyway guys that's pretty much going to wrap it for this video actually i know it's a short one but hey we didn't have actually much that we needed to talk about before i go i do want to remind you guys

That c2a is on sale if you want to make sure you actually understand these markets so you don't get burned because believe me i've been there i've done that i've got the postcard i don't plan on going back it is very easy to get

Burned in these markets and you don't want to do that because burns hurt i can tell you from personal experience guys i've been working in the space for three years now

Cryptocurrency is not as simple as you might think there's a lot of nuance to it there are many things that you need to understand in the space before you're really going to be able to be consistently profitable one of those

Being the golden rule which by the way we talk about down here in risk and reward guys c2a has 2163 students now and they're learning about markets every single day

And improving their craft so that they can be more profitable in this space so they can use that profitability to give back to their friends their family their community and everyone around them guys if you want to learn technical

Analysis period it's the best place to do it c2a if you have any questions feel free to ask us in the comments section or shoot us an email at cryptojab and we'll get

Back to you as quickly as we can make sure you use the coupon code bull run 2020 at checkout but for now though guys i gotta run because it is currently half past freckle and i need to get going so

I'm gonna go ahead and wrap this video out before i go though guys as always i do just first want to thank each and every single last one of you for watching as always and i will see you guys in the next

Video peace i got a real good feeling

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