published on August 2, 2020

what's going on guys it's kdub here with another episode of crypto zombie welcome back to the channel hope you're having an awesome start to your week over the weekend bitcoin got up to about the

Seven thousand two hundred and seventy dollar level we smashed through it this morning we got all the way up to ten thousand four hundred bitcoin having a little bit of consolidation at the time on making

This video now should we be getting excited is this the beginning of a massive bull run or is this just a giant fake out well there are some things on the chart in particular

That we do have to look at okay we have broken this massive downtrend there are two things specifically number one is a technical indicator and number two is fundamental on why bitcoin's price action could see

A short-term pullback but i'm going to talk about why i still believe we are at the beginning of a massive bitcoin rally and i'm going to show you one chart that no one is talking about right

Now that proves that we are in the exact same position that we were during the massive 2017 bull rally oh and not to mention the fact that ethereum is also showing some on-chain

Similarities to the time right around the ico bubble when we had the massive blast off so that's what we're going to talk about today having a look right here though you will

Notice bitcoin has broken back into the sort of support of this dominance uh you know percentage compared to alt coins which is why maybe you're seeing some of the alt coins not performed too well today

You're seeing a lot of these oh super zoomed in here guys what is going on here we're seeing some of these top alt coins for example you know you have uh chain link cardano synthetics

Tazos algorand okay they're all seeing a lot of red today but big topic of today is this bitcoin chart price i'm going to talk about why we're setting up for a bull run you're not

Going to persuade me yes we could have a pullback but i want to show you that we do have a 300 000 bitcoin target potentially by this time next year now i'm not saying it's going

To happen but i do want to talk about that and uh yeah that's basically what today's video is about that sounds good to you let's dive in super quick oh today we're giving away a ledger drop a

Comment you know what to do having a look right here we have broken out of this downtrend this is very good for bitcoin and why i am so excited about this on the weekly as you can see if we zoom in right here

Look when we tried to break above it in the week of june first we wicked above it we couldn't and we pulled back down however you could see that last week we did in fact close this candle above

The long-term resistance so we have a closed weekly candle we closed the candle at about nine thousand nine hundred and thirty dollars and we needed to get above nine thousand six hundred and

Fifty six now having a look over here we have absolutely skyrocketed out of the bollinger bands in fact this move is looking very similar to the move that we had right back here

Uh right when we had this crazy blast off on august excuse me april 1st of 2019 we went on a 250 rally following that now we are gonna have a little bit of resistance up here

At around the ten thousand four hundred and fifty dollars i've been speaking about this level on my channel you can see the green line right here we have had insane resistance time after time

Every single time bitcoin gets that level will the fourth time be the charm for this bitcoin breakout well really quick let's talk about one thing that could hold bitcoin back

This is the cme futures gap now why does the cme futures gap always tend to get filled is it mysticism voodoo a self-fulfilling prophecy all of the above i don't really have an answer for you

Guys but statistically a hundred percent of the time it has filled every single time on the major levels on the higher time frames not the lower ones but like dailies weeklies yes

They always get filled and that is unfortunately at around 900 excuse me 9 735 so if we were to fall down from that level right now that would be about a seven percent dip for bitcoin

Bitcoin could very easily pull back six to seven percent we've seen 20 30 40 50 pullbacks for bitcoin so that is a possibility keep your eyes on that but i do not

Think that that is deterring this coin from its inevitable bull run and you can see right here we are at this critical level bitcoin has spent less than i think it's like eight percent of its time above 10k

And if we can close this monthly candle above 9650 well then i do believe that bitcoin will continue to i don't know why i just put that red arrow we'll continue to um

Yeah just have this bounce we'll continue to just follow this trend up and up and up and up and up right here now having a look over here one thing i want to talk about is the fact that gold has recently broken an all-time

High and this is going to cycle back to bitcoin so stay with me i don't want to lose anybody right now so peter schiff comes out he says two of the last three times bitcoin rose above 10

000 uh it fell by 38 and 63 respectively the last time bitcoin rose above 10 000 was in may it only fell 15 um it's above 10 000 again today how big will the next drop be i actually do like what the moon

Said here he said last time gold hit 1900 it fell into a multi-year bear market now obviously i'm gonna give that a like now guys i'm not a uh you know gold bear or anything like

That i have nothing against gold i think that bitcoin and gold could live in harmony i just think that bitcoin has a much bigger chance for an upside i don't think gold's gonna be 10xing

Anytime soon i think bitcoin could definitely 10x in the next couple years and looking right here i just wanted to point out max kaiser commented on this he says interesting fact the world's oceans contain

Nearly 20 million tons of gold okay so right now it's unprofitable to mine that gold but eventually we could figure out a way to get that that's going to dilute the supply oh you know not to mention the fact that

The universe is literally filled with gold you can see right here astronomers tally all the gold in our galaxy and they talk about when neutron stars collide so maybe i'm getting a little bit

Ridiculous right here but if you guys are interested in more of the bitcoin gold debate definitely check out this video over on peter schiff's channel um where he was talking to anthony pompliano

Essentially bitcoin versus gold this is an hour and 40 minutes pretty amazing uh thing right here but let me show you why i believe bitcoin is in a bull market and i'm going to show you the chart that

No one is talking about now these are the major moving averages on the daily okay basically we have the 50 which is the yellow the 100 which is the blue and then we have the 200 exponential

Which is the green and the 200 which is the pink or red whatever you want to call it and that basically is the the 200 is essentially whether or not you're in a bowl or bear market okay if you're above it you're considered to

Be in a bull market if you're below it you're considered to be in a bear market well we've technically been above it since april 29th but some people are saying well we still haven't broke any higher highs

On the you know on the charts right you need a higher high on the macro in order to be in a bull market well let me just show you these moving averages now having a look right now you'll

Notice that we are in from order from top to bottom oh not to mention before i even talk about that we actually had two golden crosses okay first one first one we had right here there's a

Lot of stuff going on in this chart right now i don't know what's going on with all this uh hold on one second guys let me just get this out of the way i think i was drawing on this earlier

But yeah essentially so look we had one golden cross right here and we had another golden cross right here let me get all this stuff out of the way so i can show you but what i really want to point out is the

Fact that we have in order from top to bottom the 50 the 100 the 200 and the 200 daily right 200 ema 200 daily so that goes from yellow blue green red

Now look in all of bitcoin's previous spikes we never had that even from right here look when we go right here we have yellow blue green red okay and that signified that we were in

A bull run right we didn't have that order here we didn't have it here we didn't have it here during this pump even here you know we didn't have it now look let's go back to the 2017

We have yellow blue green red so we have 50 100 200 ema 200 daily and that signified and if you go back here the moment that we literally had that flip essentially

Signified the massive run look right here we had this major crossover where the 50 went above all three of these averages and that was literally when bitcoin was sitting at about 267 and bitcoin essentially 10x from that

Point so this is the first time that we are seeing this uh this essentially happened in this order again and that occurred when we had the crossover on july 6 so for me this signals that we are in

Fact starting the major rally and if you have a look at what master btc ltc pointed out over on twitter you could see that if you take the fractal and you put it from the previous gain

And you connect the literally the tops of both of these levels logarithmically you have a target of bitcoin sometime after july of 2021 hitting a 300 000 bitcoin target and by the way plan b

Stock to model calls for a 288 000 bitcoin target as well even arthur hayes agrees that it is a not going to say it because i'm not going to get demonetized bull market are you ready so

Let's talk about another negative right i'm getting too bullish over here i can hear you yelling saying k-dub too much opium you gotta get realistic we're gonna have a 30

Crash fine let's be realistic okay since the price has risen i will admit there has been a massive amount of inflows of bitcoin into exchanges now previously we were seeing bitcoin getting pulled off of the

Exchanges we were seeing it basically go into the wallets of the hodlers and they were holding it well maybe there is that temptation right now maybe the whales are saying hey price is getting a little bit high maybe

I do want to take some profit so yeah there is a potential that we are going to see some high volume we are going to see some whales taking profits profits we might see bitcoin crash 30 40 it crashed 60

On black tuesday and now we're up like over what i mean we went down to what three three six nine yeah we're up over 300 since then so good luck trying to kill bitcoin guys

But here's the thing unlike spot traders bitcoin miners okay are actually really calm there's not a lot of volatility in fact according to crypto quant mining pool outflows did not spike as a result of

Their gains previous events the having for example have caused lots of turbulence in fact we have network fundamentals absolutely booming with hash rate and difficulty either

Circling around their all-time highs or essentially hitting their all-time highs so if you guys are interested in trading bitcoin not recommended for beginners if you're a beginner do not

Touch leverage it is very very volatile but you can use leverage to increase your bitcoin positions essentially right so if you guys are interested i do have some affiliate links below obviously if you

Do use them and you are helping to support the channel but at the same time you can get some incredible bonuses if you're new you could join by bit you get a 90 bonus just for joining

Femex 158 bonus and prime xbt if you join using my link and you use the code crypto zombie enter the code in your settings you're going to get a 50 bonus which means that for every

Whatever you deposit if you deposit one bitcoin they're going to deposit half a bitcoin into your account there is a catch you do have to use that to trade and you do have to come out and profit but

Hey guys check it out be safe out there but yeah i mean it's about to get crazy guys and if bitcoin starts to break above that ten thousand four hundred dollar level my goodness are there gonna be some

Amazing opportunities to make some gains in bitcoin and of course the altcoins as well but speaking about the top altcoin the top dog ethereum ethereum activity is similar to that

Before 2017's ico market boom now what is causing this well let's be totally honest guys it is everything that's been going on in the d5 space maker dow for example

Has added another uh feather to its cap as this article words it by essentially locking one billion dollars in total value locked defy hit four billion dollars it was like two

Days ago so you can definitely see that this is the beginning of something big oh if you want a big story before we end today check this out so espn sports network so espn global has

Announced the launch of a blockchain powered gaming platform which will allow competitors to deposit and withdraw using bitcoin and cryptocurrencies using cryptopay

The platform is also integrating an online treasure hunt called satoshi's treasure is that the same satoshi's treasure that we covered on the channel uh like a year ago i wonder if it's the same one

With one million dollars worth of bitcoin to be split among the 1 000 in its pre-launch phase of the platform they will offer some of the most popular games in one mobile application for crypto prizes

Blockchain technology will decentralize verification and support for transactions inside the platform are you getting pumped come on smash the likes guys we've been going through like a

Multi-year bear market waiting for this chance waiting for this opportunity could we have a pullback it's possible but i'm gonna be buying the dip actually i'm gonna be longing the dip not financial advice but we have a 30

Crash i'm definitely long in this chart because i definitely think we're setting up for that massive rally but it is monday you know what that means time to give away the ledger nano s let's uh let's hop over here so we had

Seven videos gotta do one out of seven let's generate that video number five so one two three four five that was bitcoin and alt pumping be

Careful now if you're wondering why i said to be careful in this video i was talking about the cme futures gap which is around that nine thousand six hundred and something dollar level do be careful or it might be nine

Thousand seven hundred i don't remember but um yeah so anyway we do have to do a uh let's put that in here pick a random comment drum roll please thanks for the great content is it chow lopes

Kyle cow lopes child lopes well regardless you are the winner of the ledger nano s if i don't hear from you in 24 hours we are gonna be giving it away to somebody else if you have not subscribed to my channel

What are you waiting for we've been having massively successful times in bitcoin cryptocurrency our elrond play oh elrond actually pulling back guys look at that

Well let's see if it holds up back at the uh the 021 level that we originally uh we originally called out or the 21 cent level so having a look at that guys well guys you have ups you have downs that is how

Crypto goes but ultimately we are looking for a massive moonshot bitcoin to 300 000 by this time next year maybe maybe not you let me know below in the comments thanks again for coming back to the

Channel you guys rock my name's kdub this is cryptozombie until next time stay crypto chill out don't be as excited as me i'm freaking out over here i'm really excited you can tell can you tell i'm excited guys

That being said that's it for me this is crypto zombie until next time stay crypto and of course peace out you

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