Bitcoin’s HIDDEN STRENGTH! Will It Be ENOUGH?

by birtanpublished on August 29, 2020

So bitcoin is kind of doing what i outlined it might be a possibility um for the trend at the moment and that's to say you know it's not good that we ended up falling down you know below the support level we came back

Up to test it and we found resistance at it this stuff isn't good but what we're doing at the moment is potentially turning a bad situation slightly better slightly better and you know in real life obviously that's the

Best you can hope for in any case right i mean it's all about damage control and then recovering from that damage as quickly as possible and what i'm seeing here the reason i'm saying this

Is that bitcoin now has managed to find support at the 11 000 range at the 11 000 level roughly speaking twice we've been able to do this twice now and both

Times we've now come up to test the 11 500 level so the first time around that this happened let's zoom in a little bit we came right up to 11.56 then we tested it again at 11.6 although i don't know if i'm going to count this

Because this wick doesn't show up on some exchanges and now we're pushing it again over here and this rally to me is what's very very interesting now again this is one of the things

Where you're going to see the result of this when the video goes up i told you i told you about this at this rejection or this one i forgot which one it was that you know you're going to see the result of this when the video is up and

And in the previous case the result was yeah we would be bearish which is what i unfortunately suspected and what i'm suspecting over here that you're going to see when the video is up is you know well let's actually

Break it down we ended up hitting this level and we just kind of traded sideways a little bit and then we fell flat and we traded lower again with this wick we just came back up really really quickly and then we fell

Right back down so this didn't really do much this time around though what's happened here well we have the first aspect being the same we're just kind of trading sideways like we did previously

But what's different about what happened previously is then the whole thing just fell flat but this time around when we traded sideways it actually turns out this was a

Bullish continuation pattern because the next thing that happened for this trend is we've carried on trading higher now this isn't perfect because this is happening on a very very small price range if we take a look at this

In terms of percentages it's actually not a very big move at all uh let's draw this from the top to the bottom sorry from the bottom to the top this is only a 0.8 right so it's not big it's definitely

Not big enough to be any kind of confirmation but what we are seeing right here is a change in characteristics whereas last time we traded sideways and momentum

Fell flat this time we traded sideways and it appears that there was some sort of you know market-wide consensus market-wide agreement that the trend should carry on trading

Higher and so we came out of this sideways trading range this time popping up to the upside and the reason this is a little bit more important for me is that we ended up coming down to test the support level

Twice now so the the first time that we came down to test this support level we just wicked down to it and then we bounced back up really really quickly the second time we came to test this

Level exactly the same thing happened so what am i seeing over here let's just drop the volume here what am i saying you're seeing right here i'm seeing that when bitcoin comes down

To test these resist to test these support levels it's showing strength it's coming back up really really quickly when bitcoin goes up to test these resistance levels actually

It looks like it has a decent chance of breaking up because it's putting up a fight it's coming back up again with these crazy wicks and now at the moment as we speak we're actually breaking higher

And so we're showing tendencies that this market wants to break higher right now especially when you compare it to the downside let me just repeat that again because this is

This is super important this is the kind of thing that you miss if you're not paying attention in the market it's also the kind of thing that you only really pick up when you really have the pulse of the market in

Your heart i you know i i live bitcoin analysis at this point and um and and so it becomes a little bit more natural to pick these things up but you'll get there super

Soon if you didn't pick this up already but i'm going to repeat it once more um just to make it super super clear because what we're seeing here is where the market wants to go it doesn't

Mean that we are going to pop to the upside it doesn't mean that this is absolutely going to happen but it absolutely means to me from what i can see that this is where the market is leaning towards and that

Is important to know so let me say this again when we tested these support levels we tested them very quickly and in fact we can zoom in let's switch it on to the five minute or 15 minute time frame we

Can see i mean we tested these levels really quickly and we bounced right back up these are very clear v shape corrections they happen very very quickly the market doesn't want to go down and it's very

Quick to tell you that because it just rises straight back up however when we test these resistance levels we're trading around these levels the the bears are not swiftly rejecting

Bitcoin and sending it lower that's the crucial difference over here when we test the support levels the bulls are buying back up really quick they don't want to have any of it

When we test those resistance levels the bears do not have the strength to do that more importantly as well the bulls have the strength to be testing these resistance levels because it's the bulls that are carrying

Us up to this level not once not twice but now three times this time with the healthiest follow-through that we've seen and so i absolutely am seeing that this market

Wants to start peaking a little bit higher let's take a look at what some of the other indicators say because unfortunately there is some disagreement here on the four-hour time frame what we have

At the moment is if this rally takes any longer um to rise and we start hitting kind of the end of this month which is just tomorrow and the day after tomorrow we are looking at hitting some

Resistance and i'm not sure if bitcoin is going to be able to overcome this resistance what we're seeing over here on a short term time frame is very good this is very good for the bulls but i don't

Think it's strong enough to overcome even this weak resistance because we've shown so much weakness by dropping below the cloud over here by getting rejected at this resistance line by falling out of this

Ascending channel we've shown so many signs of weakness by doing these three bearish things right dropping out of this channel rejection at this line dropping out of the ichi cloud that i'm not sure we're

Going to be able to overcome this resistance over here um before i carry on why do i use the ichimoku cloud i saw someone a little bit unhappy about the fact that i bring this up in nearly every video and

The reason i like the ichimoku cloud so much is that it makes sense i'm about to get a little bit technical with you here and i'm going to ask you to use some of your imagination we got rejected at this level a couple

Of times right and so it's reasonable to be to expect that if we got rejected at this level before then this very level in the future again will be resistance as well and that's

What the ichimoku cloud shows us if i turn on the cloud again bam right there it shows us that this very same level where bitcoin got rejected could be a level where bitcoin gets rejected

Again the next reason that this is so valuable to me is it shows me what time horizon that might be in so it shows me that actually if bitcoin makes a recovery very very quickly it

Might not have much resistance up ahead but if that recovery happens slowly what does that tell me it tells me that the bulls don't have a lot of steam and we got rejected at this level before and if the bulls don't have a lot of

Steam and they're about to encounter an area of resistance bam it's forecasted right there by the ichimoku cloud so these are things that i'm calculating

In my head just on a mental plane and i don't have to say it i don't you know i just think it's very clear to me because i've been doing analysis like this for years but the ichimoku cloud is

One of the best ways i've found to visualize this and it works very very well consistently so i'm very very happy with it that's why i like to use it and then kind of taking it back to the

Original point the fact that bitcoin is showing some short-term signs of strength right now is really really good but it is conflicting with what other time frames are saying let's take a look at the hourly i'm not sure if we're

Going to get anything here we have overcome some short-term resistance but this really isn't anything to pay attention to and on the daily chart the good news here is we do have a lot of support below us and

The bad news is that it's below us it's actually really far away in order for the resistance you know uh yeah sorry in order for this support to catch up to the trend at the moment

We are looking at late september um to find support at 11 200 and that is very very far away needless to say so it's not something i'm comfortable banking on in any way and because of that i think

That i i wouldn't feel comfortable relying on the support over here and so really the picture i'm painting for you at the moment is that bitcoin is is trying right now to establish some

Sort of bullish trend at the moment it's trying to find that footing it's trying to find the opportunity to do that and it doesn't have an amazing shot at doing it

But the fact that it's trying at all like i said at the beginning of this video is very much a case where you've got a bad situation getting slightly better i just want to

Take a look at my notes and make sure i'm not missing anything else over here we have a couple more things to go over in different markets today but um the threat of dumping to 9.6 it's absolutely still there i think one of

The points i want to hit home because i did focus on this quite a bit in today's video is that even though we have shown us uh the market has shown us this very very

Nice bullish sign of strength in the market uh it it's still you know there is still a very real threat of dumping to 9.6 k this is happening on a saturday as well and i mean this is where the cme market

Is closed and anything that happens here isn't confirmed by futures money it isn't confirmed by institutional money and that to me is a bit of a problem um that's exactly what happened with the

9.6 level and so it very well could be the case that we end up dropping significantly lower as well um in terms of other markets i'm seeing a very nice opportunity on gold shaping up so i want to show

That to you right here as you know i am now trading these markets as well and where i'm trading gold is on femex you can find a link to it in the description where you get a

Bonus on your deposits so very very good stuff there i'm trading gold over there using bitcoin and leverage there's no kyc and i outlined to you this very important level 1980 1

980 for gold and we've now hit that level we are now trading around this level uh the market is unfortunately closed at the moment um but once it reopens we are going to potentially see

Some uh some resistance hits and then hopefully overcoming this resistance level so just to very quickly recap if we do break above 1980 um it it looks like a potential long position to me but more

Importantly if we break above this level and then we come back down to test it that's where i'd be very very interested in buying gold because as we know gold will typically move in more sensible fashions than bitcoin

And so coming down to test old support levels old resistance levels and the like very very possible um and definitely very predictable so uh that's something that i'm looking

Uh to kind of trade relatively soon as well this is a trade that i will share with you publicly as you already know i did share with you the setup that i took on the uk 100 index where i closed a

Beautiful 50 profit and then at 25 profit super super easy i entered at this blue line on this rally here and um and and showed you how i closed the whole position like i said this was quite a

Standard procedure trade that i like to share in the vip group but for now i am sharing with you publicly the trades that i'm making on these other markets as well if you want to get access to everything

And see exactly what top vips get all of that they see first of all they saw that uk 100 trade before i entered it gold members got it late um and then everything else that's exclusive the

Trades i make on crypto and the like i don't share that information publicly this member over here jumped into the group and started making really consistent profits after being in the group mentioning that his technical

Analysis is definitely improving because of the knowledge that i'm providing which is very very good this person has showed me very consistent profits since he joined vip which is absolutely

Amazing 30 profit 19 profit i mean throw that in a calculator right now what would that do in fact i'm gonna do it live right now what would that do to

Ten thousand dollars just just for argument's sake if you get a 1.3 times gain on that that becomes thirteen thousand dollars and if you apply a further one point one eight times gain

That's nine eighteen percent profit in two trades if this person was trading with ten thousand dollars i'm not do it do it a calculator i'm not joking if this person was playing with ten thousand dollars for two trades

That's fifteen thousand three hundred and forty dollars after two trades and this person was booking profits like this consistently it is absolutely amazing the kind of consistent returns that vip members have

Been able to pull after jumping into the group and the reason they've been able to do that is i've been able to see how other people like myself who've been in the game for a very long

Time and have overcome all the that traders often do like gambling and over trading and over and out and doing um carrying out too much analysis and overthinking trades they've been able to

See how we overcome that and then implement the things that we teach you know daily in the market in real time and when you're able to plug into that kind of energy

It can it's very contagious it's very contagious and it allows you to um to really take the next step uh and and kind of step into what a better trader might look like and we have beautiful evidence of

That right here so if you want to see exactly how i'm handling these markets exactly how i'm navigating them and changing plans and making plans and why i'm making certain plans and all that good

Stuff then you can find out exactly how to join vip by following these steps click on the first link in the description down below click on the app for flies button

And then click on send message to ask me how to join vip you are going to be getting a nice discount at the moment as well let's move over to ethereum though ethereum is definitely

Moving a little bit more interestingly than bitcoin and we are right now looking at a potential breakout situation for ethereum so there's a lot of drawings over here i'm just going to remove

These for now just to kind of de-clutter everything that's in my brain just want to remove these last few arrows and what i'm seeing with ethereum right now is a parallel channel which we may actually have

Broken out of by now uh i'm using outdated nodes these nodes were for yesterday but yes we did break out of this channel this is just to show you that you know ethereum's been trading in nice

Channels at the moment it's been conforming to what you might expect it to do but it's also volatile at the moment it's also still popping off it's also still

Active um i i do expect ethereum to continue rising higher i think ethereum's trend looks a lot a lot better than bitcoin's trend um that doesn't necessarily mean that if bitcoin falls ethereum will rise i

Think that's very unlikely but i think that ethereum does still look very very good and so actually that's more so to say that if bitcoin rises i think that ethereum will continue to rise much

Much much much harder you guys know what my targets are over there and vips have already seen what kind of positions i want to take on ethereum where i'm looking at ridiculous profit numbers a couple

Hundred percentage returns um you know just just on a single trade on ethereum just because the ceiling is pretty much non-existent at this point uh and that's the reason i want to bring

It up to you because this is something where i have to keep my eyes peeled on this at the moment because a lot of people they are i say this all the time you know when it gets a little bit boring people want to

Start paying attention to the market they want to start doing other things because they have a very short attention span but this is the time to be paying full attention to the market and people who do that are the

Future millionaires and crypto i swear i've said this so many times and every time you give it like two weeks every time i've said this millionaires were made not maybe maybe not necessarily on this channel but the

Point is the people who were paying attention were very very handsomely rewarded for it i mean this is the kind of thing where you do a little bit that's undesirable right

Now and it can pay off massively if you play your cards right and you basically allow yourself to play those cards right by paying attention now really what i would like to see with ethereum is

Coming down to the support level confirming it as support because we have just kind of been waving around a little bit recently and it's not very good we've just kind of been up and down and up and down i don't

Like it i want to see some definite sign that this trend is now above resistance and it's going to stay above resistance and then i would potentially look at taking up a

Long position to see ethereum rising up into the 400 range the mid 400s the 500 to the 600s the 700s uh i'm not joking these are literally my targets and

I'm very excited to see where they go so i don't have a specific setup on ethereum yet uh i will be making one depending on how ethereum moves over the next i don't know 48

Hours uh and depending on how that goes i will be entering a position formulating entry points and deciding where you know my stop-loss will be in all that kind of stuff

And as usual vip is only will get access to that information so once again if you do want to get into the group you can follow these steps right here also for those of you who are curious i was trading the uk 100 market on

Prime xbt they allow you to trade cfds which means uh contracts for different sort of indices and stuff like that you've got the uh japanese index as well this is also something that i've

Been talking to vips about but i'm not going to cover in this video it's possible to trade all of these markets with bitcoin and leverage without kyc on prime xpt so the links to primexpt for these markets and

Um femix for gold they're all both in the description and you do get a bonus using those links as well so hope you have enjoyed this video you know what to do hit up the like

Subscribe tick the belt all that good stuff and i'm out bye

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