by birtanpublished on August 21, 2020

Wow it looks like Bitcoin really let the juice out of its caboose today let's get into these charts Bitcoin has broken our first level and is on to our second before confirming a huge break out here we're finding that initial resistance

Right here you guys along this upward sloping line and additionally we're gonna show you exactly what these lines are because this is a substantial pattern that Bitcoin has been trapped in for the past two months could we finally

Be headed towards getting above this or in fact is this still a fake out there is one crucial level that would need to be broken before any sort of real break out would be confirmed as you can see Bitcoin climbs higher shatters our first

Target and guys we're off to the second target if we can break this key level that we'll talk about in this video Wow and what are the chances that Bitcoin comes again to test this two and a half year resistance line what are the

Chances Bitcoin continues and actually test this again we're actually above the 21 day moving average here on the daily chart so this is huge this target now is only 9700 US dollars because every second that goes by this line gets lower

And lower it's a descending line and guys will talk about this key level that Bitcoin failed to break above and if so what could happen if we actually get a weekly close in this level we are in Thursday we have a few more days until

This weekly candle closes and actually we're on track if this continues this could be a very beautiful candle we'll take a look at what targets need to be hit today and Bitcoin did not stop after it filled this gap in fact it actually

Broke through some key moving averages and is continuing to climb is this good like we mentioned yesterday's video there is one key level that if broken could propel Bitcoin over $1,000 but guys were not there yet hold your horses

And as will this tradingview chart by crypto Kaleo actually showing what his target is we'll take a look at that because it's all the way up here after a short level of resistance in guys 9,500 is a huge target it's currently where

We're getting rejected on these charts we'll take a look at what we'll need to break above this and big new Samsung actually doubling down on Brooklyn and crypto Gemini exchange integration revealed this is huge

Especially after the somewhat negative Goldman Sachs news yesterday we're gonna be talking about that Rippey to be do let's get into the condo Wow what's going on welcome back to another very especially Bitcoin episode today again

We have more gainers on the horizon now is this gonna be short-lived because as we talked about yesterday we still haven't broken that to second level there's two levels we smashed the first one overnight here on the East Coast but

They're number two level number two is critical and if we break that then we could continue to moon and finally maybe set ourselves up to break this two and a half of your pattern that we have gotten rejected and rejected on but it's all up

To this one pattern on the chart and we're gonna be talking about that in this episode wow so if that sounds interesting you guys make sure to leave a like subscribe turn on the dings in as well if you want

To enter for this ledger make sure to smash the comments below we've already given away like four or five Ledger's over the last few days in fact like the last three winners we sent Bitcoin instead because for some reason

Everybody that wins the giveaways is in Europe even though like 50 percent of my audience is United States for some reason everybody that wins is in Europe so we end up sending them Bitcoin so guys make sure to smash the comments all

The stuff and we can get into this webisode Wow so let's actually start off with this chart guys because this is something I think you guys need to understand a lot of you guys do know this chart and have been following

Around for a while but I did receive some comments some people don't necessarily understand this pattern here and I think it's just critical to go over before we continue with the rest of episode so let me turn the EMA ribbon

Off because I want to show you these lines okay these levels of ascending support and resistance have been in play since the drop on March 12th for over two months actually going on two and a half months very big these levels have

Been crucial it's it's actually insane will actually go through real briefly it's only take about 30 seconds but look at this we had initial support on these levels okay we had initial resistance here pretty much every single line has

Played a huge role but it's not just that it was for like a few weeks this level of support and resistance just continued you can see it here coming here support okay support resistance and resistance support resistance here okay

Just goes on and on and we pump all the way right after breaking this line up to here we break it but then we find support here we try to break above fail this is the 10k level which is why this is huge that's why we failed there we

Fell down to here found some resistance and support right around this area plump back up again okay and then we found some support right in the same area that's very top line this is when we were testing this 10k area right here

This is the similar spot here on this chart where we are failing right there and that's where we failed right there again when we got rejected down to this line failed that tried to break here failed push down to this line and now

Guys you can see here after we found support on this middle line we're coming up to the this line here and we're finding resistance here so this is actually insane that literally all you can do for the past two months you draw

One channel right here and the price continues to obey these are completely straight lines I can't manipulate these lines the fact that each one of these lines once when the price gets near it there's something that happens to it

Whether it playing is support or resistance I mean it's just so key that this pattern has been confirmed over and over again is very important now clearly this is where our level is here if we would actually break above here I think

It would be very easy to say we could see a pump up to this level right here but we can't only use this chart and actually as I'm filming this the exact level of where this line is is basically right at ten thousand US dollars you

Guys can see that on the screen right here so this break would put us right at ten thousand dollars so if it's going to go up I think that's very important to recognize but again I don't think it's gonna be a straight-shooter eight here

And that's what we're gonna switch to some of these other charts for example let's go to the falling wedge which a lot of people are looking at because it's a very pretty looking pattern it actually looks like it broke out exactly

Like a falling wedge would break out too now I did say two videos ago I think it's less likely that this will break up given the context of the entire truck you know all these other charts as well other time frames but it is seeming to

Continue to break out and like we mentioned in yesterday's video the one level that it would have to break to actually confirm this to keep going up I would say is like the 9700 US dollar mark we're at ninety five hundred US

Dollars right now which we're seeing some resistance you guys can see that's why on this chart this is why I believe we're seeing the resistance there but guys the breakout target if this I mean because this is a falling wedge and the

Breakout has been confirmed but it has not reached the full breakout of this of this pattern here if it did it would put Bitcoin above 10,000 US dollars so the full breakout target of this pattern is above 10,000 US dollars

So if this pattern completely fulfills its breakout we will be above 10,000 US dollars and so we will be above this level in this chart like we mentioned yesterday it would put us above the past two and a half years of resistance for

The most substantial amount since back in June of 2019 but again guys this this level of this level of resistance has been so long and let's actually just take a zoom out for one second this is absolutely pretty wild so after we had

That massive drop on March 12th it's basically been I mean if you look on a weekly scale this thing just pretty went pretty much went straight up aside from the past like two weeks where we got a rejection right about here this thing is

Pretty much just been going straight up now the climate around Bitcoin is pretty pretty positive there's not too much negative news the goldman sachs news really didn't affect a bitcoins price at all i don't think anyone really cares

About that obviously a bank is not going to go out and and start promoting bitcoin even though they are buying it in the background they're buying it in secret obviously I mean JP Morgan called it a fraud two or three years ago and

They're obviously you know the the news a week ago they're partnering with with coinbase Gemini they're obviously a lot of stuff going on behind the scenes and these official reports basically mean nothing so that's why I don't think the

Price had any negative impact because nobody really cares about what Goldman Sachs says in some fraudulent official document like nobody cares they don't even believe their own statements so with that being said the first level we

Talked about we had to break was 93 second is 97 and if that's the case I think we're going much higher than 10k so there's a two levels broke 93 which we did just a few hours ago and if we break 97 and can hold that then I think

10k plus even 11 K is definitely in the cards for the shirt short term which I was I've been bearish the last few days but guys if this continues again we're still in a very neutral zone this has really not given any confirmation just

Yet again we haven't broken 97 so I don't think we can get too excited until we actually break 9700 but again this does look pretty good and for some reason it is still continuing to go up when a lot of people were expecting it

To go down here but if we saw a retracement back in 93 we want to hold that before maybe pushing up to 97 but overall again breaking 97 one of the biggest reasons here is because that breaks this long-term downtrend which is

Just huge and well guys another reason why 9700 is absolutely huge because we were looking on this daily and then for our chart here but if we go to the weekly chart we spent the last three weeks almost four

Weeks actually closing candles below 97 so for the past few weeks we haven't gotten a candle closing above 97 we've been dipping our toes and the waters up here we haven't actually closed a candle here so if we actually

Push up here and are able to hold it over the weekend and get this weekly close then I think next week could be extremely optimistic but again this is this is what we need to wait for because you hear me getting a little bullish but

I'm still very hesitant because we're not here just yet this is what I keep saying I think ninety seven has to be we have to get it close in this level even if we just wick up here that's not good enough we have to we have like three

Days left until the close we need to actually close a daily candle or a weekly candle up in this area here if we do that I think it's absolutely banana town things will go absolutely bananas but we have to do that first so again in

Terms of all the key moving averages on the weekly and the daily they're all below us so we're not using those too much right now because they're all underneath where our current price target is even on the vpv are the most

Substantial levels of volume are below us okay you can see we're right here and all these substantial levels are below us so again we're above everything still even though we've had a few rough weeks of getting pushed down about a thousand

Dollars which again isn't even that much even though we've gotten pushed down a few times in the past few weeks we're still holding these huge levels and we haven't come down to this pullback area we haven't come down to the 8100 u.s.

Dollar level which a lot of people including myself definitely thought would happen again it's still it's still very possible that it could but this is I mean the momentum to the upside right now is still a lot stronger than I think

A lot of people were expecting so very interesting we're actually basically right at 9,500 right now so it'll be interesting to see over the next two days because we still do have two more days the rest of today and then tomorrow

Before we get the close where we could have to worry about that see me gap then so that's really important now crypto Kaleo here I found this on Twitter his breakout target here is something like this so breakout of this falling wedge

Which is right here now this is interesting because this chart was actually posted two days ago before this breakout happened yet so far his pattern is actually true so let's take a look here it has by the 28th being about

9,500 so according to this chart we should actually occur his chart here we could be seeing 96 even that $9,700 level which we were talking about is being so key within the next actually by today or tomorrow

According to this chart now one thing I think is a little sketchy is that if we get this massive pump right on the weekend we're gonna be creating a CME gap to the downside which is not good because I think most likely will come

Down and fill it guys remember see any gaps that I mean lately they've been filling immediately look at this right here down immediately filled same for two weeks ago here down immediately filled back up

Same thing here okay this was at one week ago down gap to the upside immediately filled so I got to the downside immediately filled so this is a very nice looking pattern and so far he's posted this two days ago and so far

It's coming true so it would be really interesting to see I also agree with the line that he has here of the 97 being a very important level and this is basically just that down training resistance line so very big if this

Actually if this actually does happen I 100% agree with the trajectory of this happening as well because this falling wedge is about a month long a month worth of data on this chart here break up to 97 which I think we'll see some

Resistance and then if it does break that then I could see this being a very nice breakout he has the breakout target all the way up actually in almost 11,000 US dollars yeah 11,000 so I didn't necessarily have it charted to be that

High about breakout target but it does make sense according to this chart I'm not gonna argue that I definitely think that could be a possibility there very cool so his description then here is expect this to pump to at least 9800

Expecting brief accumulation and then a leg up to the next range which touchstart illustrates and then as well guys I want to show you this article by William Suber here on coin Telegraph its price surges past nine point four K as

Week of gains targets a five figure level so I actually have a few points highlighted here coin Telegraph reported this has come in tandem with a strong outlook for traditional markets and places Bitcoin USD ever closer to a five

Figure level the 9500 has to be broken it emerged institutional funds ient grayscale is now buying one and a half times the amount of Bitcoin that's being mined and as well Goldman Sachs claiming cryptocurrency is

Not an asset failed to have any negative impact on the crypto currency markets okay it says over here it failed to dent market sentiment in any noticeable way so that's pretty interesting to note and 9,500 which is providing a focus for

Price fluctuations in recently is now the next hurdle to clear so huge stuff and the last thing I want to cover here before we get into a little more ta is that Billy Bamburgh posted on Forbes Samsung doubles down on Bitcoin and

Crypto Gemini exchange integration revealed so this is more fundamental news we usually talked about about technical analysis and technical news but this fundamental news here is just that you know certain wallets and there

Are certain things people that aren't into crypto finding these things a little challenging getting into crypto storing your crypto for people that don't know how to do it it's kind of tedious it's kind of hard so things like

This Samsung the Korean smartphone giant experimenting with Bitcoin and this is not new they've been experimenting for a while they're doubling down on crypto currency what's new is that Samsung's blockchain wallet will add support for

Users of us bit coin and crypto Exchange Gemini in North America so it allows self custody of Bitcoin and crypto currencies directly on these newer models of Samsung Galaxy models which will be able to buy and sell Bitcoin and

A small selection of other crypto currencies via the exchange Gemini okay crypto is not just the technology it's a movement said Gemini chief executive Tyler Winklevoss who along with his twin brother has

Campaigned for Wall Street adoption of Bitcoin and crypto for millions of Samsung users across the u.s. in Canada being able to store crypto directly on their phones lowers and other barrier to entry it's very important to hear

Customer demand for regulated crypto products has remained strong across the investing spectrum from retail to Institute institutional subsidy huge so that's a fundamental reason moving forward over the next you know over into

The future the years of crypto that's a very good sign I think it's a very good approach to take awesome guys so make sure to leave your coming for the ledger and as well we made some more updates to t4 we're actually on version version 3

Right now guys so if you want more information on it trading techniques understanding charting how to navigate exchanges and much much much more and there's more being added every single month as well specifically we're gonna

Be adding more information on margin trading for you people interested in that trading has been a big focus and a big interest so that's another thing we'll be covering so guys have you interested enter the code made a at

Checkout for $45 off guys huge very excited about t4 and everything going on with it huge

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