by birtanpublished on August 24, 2020

women actually really love me i'm funny i'm smart wow is bitcoin finally going to get a break out and jump 40 to this specific price target or are we going to get a massive dump into

Oblivion bitcoin has everyone on the edge of their toes as there's literally no more room for bitcoin to consolidate here without having a breakout guys this has to happen

Super soon and as well an almost billion dollar bitcoin crypto investor reveals info about the coming fourth cycle for bitcoin 2011 2013 2017 and now 2020 this is huge full of jam-packed

Information we got to get into this and as well a prominent twitter account crypto whale anticipating a massive drop here guys we'll take a look at some evidence here and take a look what this

Pullback would be this could be absolutely wild and as well the average fee to send bitcoin is just increasing we can see this here is this good or bad and we'll take a

Look at more information regarding this for the last three updates bitcoin is still trading right at this exact same level you guys right around the 9 700 us dollar level will we finally get a

Break out of this golden pocket or will we face a massive rejection guys this is just going on too long this is absolute crunch time wow what's going on welcome back to another extremely

Episode of bitcoin today guys a lot to get into today not too much regarding price except we are again okay just on the brink of this breakout this cannot go on

Much longer there is no room left bitcoin is continuing to consolidate into a smaller and smaller a tighter and tighter range there has to be a breakout here soon so guys we have so much to get into

As well we'll be making a new discord the older one is no longer there and we were within inches of that light goal you guys so if we can hit only 1000 likes in this video tomorrow will be the giveaway for this ledger

Make sure to smash ding hit the likes do everything you got to do so guys wow let's actually start off with this tweet by crypto whale on twitter bitcoin crash incoming he says okay

Now again this is just a very simple chart there's not much to this other than this two and a half year line of descending resistance and he's pointing to about a correction down to the low

Seven thousand dollar range okay after getting rejected off this now guys if you go around twitter if you go around youtube if you go around reddit even trading view no matter where you go there is so much

Indecision about this because there's a lot of evidence pointing towards a breakup but as well the fact we've been failing to break up for uh you know day after day now test after

Test it's giving the bears more fuel and giving them more reason to believe that maybe we will get a massive rejection here so guys for the past 12 days since may 7th of 2020 we have basically just been you

Know bouncing off of this line as you can see the last week specifically uh going back to about may 13th and 14th we've just been within this few hundred dollar range very tightly

Consolidating along this two and a half year level we have not traded this long at this resistance level ever for the past two and a half years that this has existed we have never

Traded this long at this level and i can illustrate that to you guys if we zoom out you can see we've gotten some quick rejections here here specifically

Here back in the summer of 2019 then again as of most recently just three months ago in february of 2020 but again quick rejections now you see here we've spent over about two weeks kind of just hugging on this line here

So that says two things one there is huge resistance there okay bitcoin obviously wants to go higher but it's not able to and two you know eventually over time if it's not able to get above this level

There's literally no other option then for it to get rejected ta is fairly simple in that regard it can either go up it can either go down or it can go sideways it's not that complicated and specifically you guys as it's continuing

To push up and if it just can't do it we're gonna get a rejection here soon so every day that goes by and every day that we just sit here and we get closer and closer it's just more and more likely that

There's going to be a breakout and on one end the more you touch a line like this the weaker this resistance gets so again that could be lending some credence that maybe we'll just be able to break up out of this

To the downside for a very very short-term pullback we could see that pullback down to the ninety two hundred dollar level which is still four hundred dollars above uh that level the 21 day

Simple moving average and guys as we've talked about like the last three videos this is it's literally on the weekly chart bitcoins candle not even the wicks because the wicks went up a little bit

And they went down a little bit but the wick itself is directly in the middle of this fibonacci channel for the past two and a half years the very very bottom of the golden pocket the 0.618 it is

Still just sitting right there that makes three weeks in a row that we've gotten rejections off of here but two weeks in a row where this level specifically on the daily chart is just providing a

Ton of resistance here so guys i want to say this as well when we get this massive move which could happen any second for anybody that might be saying something like why did we get the move

Why do we get the move this is exactly what we're going to get the move because we've been testing this critical two and a half year fibonacci resistance two and a half year descending line as well everything just

Insanely critical price levels and if we don't break it we're gonna get rejected and if we do break it it's absolute bullishness uh personified it's gonna blow up so nobody should be

Wondering why we're about to get a big move okay myself and i think literally every other person that has a bitcoin interest on the planet knows that we're at like make or break time okay

Everybody knows that a massive move is about to happen it's just a matter of when okay because it can literally pop off at any second okay guys now if we did get a break up it's very likely that we could

See a prolonged push you know over a weekly period after you know breaking some even smaller term resistances on this break up to the 14 000 level for bitcoin which is critical

Because for everyone that knows this after 14k there's very there's barely anything left in terms of resistance let's actually show you the past two and a half year uh vpvr

Which myself and many people aren't even talking about this anymore because we're significantly above like the biggest areas of resistance and volume in general on this chart you can see it's basically these levels

The biggest right around uh well obviously it's around three thousand seven hundred second is around sixty four hundred then the third biggest is around eight thousand

Even now we're clearly above all those levels so again as you can see i'll trace this a little bit on the screen you can see there's not really that much vpvr volume data that we really need to even look at

Right now because with this metric we're basically above everything you can see this green line is where we are currently and we're above these three biggest points right here one

Two and three when you look on a macro scale something like the weekly or the monthly we're basically literally above everything that we need to be above except the only thing that we're not above

Is this two and a half year downtrend this is the only thing at this point that we haven't broken so this needs to be broken absolutely huge uh if we show you the entire cryptocurrency market cap this is pretty interesting as well so

This is all of cryptos combined we are just very very slightly peaking our head at the very top of this line so similar to bitcoin's two and a half year uh descending resistance there this is the entire cryptocurrency market cap

Basically in the same area although the entire market cap looks a little bit better than just bitcoin it's even slightly above it now we are seeing some alts actually pull back which could be a sign that bitcoin is ready to make a

Move though up because when all coins flow into bitcoin well when bitcoin goes on a run usually the money from the all coins flows into bitcoin a lot of value flows into bitcoin from

Alts on runs and then uh disperses after bitcoins kind of topped out many times that's the case so let's take a look at this according to forbes major 800 million dollar bitcoin and crypto investor reveals coming for cycle

Bitcoin and crypto investors have been eagerly waiting for bitcoin's next breakout if it ever comes okay so this article recognizes what's going on right now we've just been stalling for the past

Few days when we should be seeing a big move one way or the other so silicon valley venture capital firm uh andres and horowitz has forecast a fourth crypto cycle could be on the

Horizon potentially setting bitcoin price substantially higher the 2017 cycles spawn dozens of exciting projects in a wide range of areas including payments finance games

Infrastructure web apps many of these projects are launching in the near future possibly driving a fourth crypto cycle if you guys remember 2017 was not all about bitcoin

Bitcoin had a huge year but if you guys remember 2017 really got kicked off with ethereum and then towards the second half of 2017 alt coins absolutely took over altcoins got in the spotlight like never

Before okay there was an altcoin craze the last few months of 2017 and even the first month or two of 2018 as well so while everyone including myself talks a lot about bitcoin old coins played a

Huge role in that market cap of the entire thing okay touching on 800 billion us dollars for the entire crypto market cap altcoins played a huge role and bitcoin

Dominance has basically been decreasing ever since then the last month andreessen horowitz announced its second 515 million bitcoin and crypto fund adding to the 300 million dollar fund it launched in

Mid 2018 and the 2020 fundraising smashed the original 450 million dollar target uh it will be dedicated to crypto and blockchain projects specifically defy okay decentralized finance next

Generation payments and very cool the decentralized internet so there's a lot of cool exciting things coming and guys adoption value and a lot of the stuff that's going to actually propel

Things very quickly is going to be in this fourth cycle again we're in like the cooldown period we're still in kind of like the hibernation period but things are ready to wake up literally at any moment now

Says here even the cryptocycles look chaotic over the long term they've generated steady growth of new ideas code projects and startups the fundamental drivers of software innovation people who've been encrypted

For a long time view the space as evolving in cycles alternating between periods of high activity and crypto winters so it says here the vc firm identifies an underlying order to the 2011

The 2013 and 2017 bitcoin and crypto cycle first what happens is cryptocurrencies prices rise and then it leads to new interest and social media activity and then that spawns a lot of adoption

Uh and a lot of just overall good things obviously scams rise with that as well so it's a mix of good and bad but overall um the space tends to explode during these run-ups and this could be the fourth

Cycle coming so it says here anecdotally of the hundreds of conversations with crypto founders that we have had says dixon and lazarin we've often heard stories like i heard about crypto in 2011 or 2013 or 2017

When the prices went up and everyone was talking about it at first i thought it was just about money but then i started reading white papers and blog posts learned more about the potential technology

And eventually fell in love with it so that's really important there let me know what you guys think about that because this is really important to realize that this cycle isn't just going to be something

Where bitcoin goes from you know ten thousand dollars to seventy thousand dollars and alt coins don't do anything absolutely not the case all coins are gonna explode as well there's gonna be insane

Interest in altcoins as well as bitcoin people are gonna hear about bitcoin but naturally they're also going to hear about these other coins and check them out and some of them are interesting and people are going to want

To buy them as well and that'll lead to more adoption it'll lead to more people getting interested involved in the space and new innovations just like 2017 brought as well as new scams okay they go hand in hand

Wow we talked about this as well a little bit in our video yesterday about the average transaction fee of bitcoin rising currently it's about six dollars in usd uh to send is it's the average fee to

Send bitcoin right now okay so obviously it's because of the hash rate decreasing a little bit the having just ended okay there's a few factors to it but overall uh bitcoin's price is a little more expensive if you guys

Remember 2017 the end of 2017 was nuts bitcoin was so expensive and so slow just to send it uh people were very frustrated exchanges were doing a very poor job as well you

Couldn't even access exchanges let alone send bitcoin which again led and pushed more people into being interested in these other altcoins so let me know what you think specifically about bitcoin's high

Transaction fees during times like times like we're currently experiencing do you think this is a problem that has no bearing on the future success of bitcoin do you think other coins could do it better and if so which ones

Wow so thanks so much for watching guys make sure to give this video to at least 1000 likes and if we do we'll give away this ledger tomorrow and as well if you haven't checked out t4 already guys i highly recommend you do

Wow and i only spent about one percent of my videos talking about my courses because i can't just sit here and force you to listen to a sales pitch i would feel too bad if i just bombarded you

With trying to sell you something every single day for like 50 of the video but guys definitely if you want to get a good understanding of ta and some of my personal tips and strategies and as well all coins check out t4

Pinned in the comments and in the description below very cool guys so i'll see you in the next one peace

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