HERE’S WHAT’S HAPPENING!! ~ BITCOIN FORMING MYSTERY PATTERN | IT’S MUCH CRAZIER THAN THOUGHT!

by birtanpublished on October 1, 2020

Wow guys in today's episode the gloves
are coming off guys today we have to
talk about two patterns and one of them
you have not seen talked about I
guarantee that that's very exciting we
have so much talked about in regards to
that we have to really get down into
dirty guys we're gonna be pretty honest
with this analysis and there's a lot we
have to get into in regards to this very
excited to share some things here as
well we do have to incorporate some past
things like this cup and handle
formation what is going on with this
pattern you know is this still in the
middle of forming we have this key area
on bitcoins chart that is just is
finding so much trouble getting you know
breaking down we see wick after wick
coming much below it but it is just not
wanting to stay below that level will we
get Bitcoin pushing to the low level and
some of the these bullish patterns that
needs to play out actually require that
it does so we have talked about that in
this video
and guys bounce after bounce nobody else
is seeing this because of this chart but
this is actually pretty huge and we have
to take a look at this today it just
happened today okay it has to do with
this wick in this candle so guys bitcoin
what is in store this market this is in
the middle of a firestorm okay so many
things would be going on so many things
could be happening on these charts and
we want to give you our perspective we
want to give you the juice to make you
loose all right now gather around my
little pilgrims it is time to chow down
Wow what's going on my little munchers
welcome back to another exciting episode
we have a lot to cover in this video and
we really don't waste too much time
getting into it guys because there are
so many exciting things we really want
to cover and keep in mind this is the
last week we're doing these giveaways
for these letters all you do is enter is
leave a comment below and that's new or
she would like subscribe to summer
kitchen is doing that bell and we can
jump right into the content guys if you
don't already follow me on Twitter here
it is guys make sure head over there I
do have a lot to cover in regards to my
ta in this but I do actually want to
take a look at big Tony's big Tony's
chart that he posted and I retweeted
last night okay he was just talking
about this trend line that he has going
all the way back to 2018 this upward
sloping trendline and it is very it has
some very key consistencies that I want
to show you guys on this chart here guys
10k has no doubt provided a lot of
resistance a lot of psychology it's it's
where the market has stalled out longer
than it has since the beginning of the
uptrend in January and a lot of people
are questioning the overall trend of
where this stuff is going so guys like
in the feature film holes
Sheil atlas
and dig dig dig our way to the bottom of
this analysis guys this is huge okay so
we actually had a really really big wick
down today and in fact so far
today's been majority in the red as you
can see by this red candle right here
okay a pretty engulfing red candle there
pretty much engulfed yesterday's green
candle now what do you notice here
throughout all of this chaos we have a
bounce
right here on this middle trendline
upward sloping trendline but again this
bounce here this one here has been
higher so far than this one okay now
we're still on this trajectory and we're
gonna end up squeezing into a
consolidating pattern that's very likely
going to be the case here now I have so
many things to show you on somebody's
other charts because some of these are
really telling so this is obviously one
of most interesting things and this is
more speculative because it could be at
the very beginning of this move and one
of the downsides to this pattern is it
definitely incorporates more downside so
for this pattern to play out more
downside needs to be fulfilled and guys
there are some key things we have been
setting some higher lows on this chart
and we really have to think about what
that means okay because within this
massive three four thousand dollar run
over the past month and a half it's very
important to note where we are currently
and what this means for the market so
you see it's actually touching down this
200 moving average here on the 4-hour
okay bouncing right here but we have to
take a look at this and really analyze
this could this actually be the
beginning of a possible bull flag
okay bull flags are a pattern that you
see amid sub trends now it's not always
recognizable at first but let's take a
look at a bull flag okay this is an
example of one here okay you have a
substantial uptrend this one actually is
about two months long very similar to
one we're in now okay same amount of
time and then we have this descending
channel really that essentially is just
a bull flag okay so we trade in this
symmetrical decreasing or descending
channel right here and then eventually
we do have our break get above this
moving average and continue okay we have
another example here basically nice
uptrend then we get a consolidation at a
symmetric descending channel down like
this and then a nice break up and you
see the target is about the height of
the fall so that's actually huge so do
we have anything similar on the chart
that we have now well not only that not
only do we have something potentially
like this weather you could see maybe a
flag here or sorry a pole there but
potentially this could be part of a much
even bigger pole because this
essentially for the most part was a very
very strict uptrend now for this to
actually be formed I do think that this
flag would actually
again this is pretty speculative but
again we have other patterns that play
into this they make a lot of sense as
well but it would mean that this pattern
could consolidate more and more maybe
even down to those perfect key levels
that we've been talking about there's
two okay two key levels okay guys now
this is perfect I really want to draw
your attention to this okay then 9200 in
the $8,800 level are absolutely key for
many reasons we can get into in this
video but the 8800 would look right
about this on the chart and the 92 which
is my preferred target is right about
here okay we're actually only a few
hundred dollars away from that so it
wouldn't mean much more consolidating
okay we could have some something like
this another touchdown or so maybe like
a touchdown to this over the next few
days guys so many possibilities with
this but for this flag this remains
extremely bullish if we get a
consolidation within this within this
channel if this channel maintains okay
remember we've had some very strict
cells that you see comes down doesn't
matter if it breaks out as long as it
kind of bounces back in almost
immediately these have okay but for the
most part we see a lot of support we see
a lot of support here going on the
bottom we have at least like six touches
here on this four-hour chart over and
over again and same thing at the top we
actually have quite a bit more at the
top here okay so we have up here we came
down straight back up straight back down
here here okay now what is the next move
you would think maybe it's possible that
we pull back to here maybe go back to
the 90 to maybe shoot back up here maybe
that could be it could even be that
simple of a break off or a blast off a
break through that line it could even be
that quick but we also would not be
shocked to see it even come down and
maybe test that $8,800 level guys so
that's key we want to look at that I
mean I think this is really important to
look at as well guys within this entire
pattern this is the entire pattern
consolidated on the one day chart okay
that was the four hour this is the day
chart now this actually would still be
perfectly forming this handle that we've
been talking about for weeks now this
handle again down to the 92 which would
be right here again perfect looking even
down to the 88 potentially down here to
the 200 moving average absolute blast
off okay we're actually looking at these
this would be huge and I would actually
love to see this continue over the next
week if we see more of this
consolidation down over the next week I
would feel pretty confident that this is
really enabling itself to have a break
again if we saw a move actually soon
above this I personally think the market
needs more juice and needs a little more
time to form one of these patterns here
and again this is a huge macro pattern
that we see here and this requires some
more downside here okay guys so we have
that potential bull flag forming here as
well as part of the handle of this cup
and handle absolutely huge and then we
have this which I want to take a look at
on that chart it looks as though the
pattern is really descending and I mean
for the most part it is but you can see
here on the one-hour chart this is
really the beginning of it and this is
where we are currently we see one thing
and that is that even though these
prices are going lower and the bounces
are getting lower as well they're not
getting quite as high this area right
here we do see candles and wicks come
down too and then wick down and then
immediately go back back above basically
this box okay we see it come down here
straight back up come down here back up
– like this is the lowest point here so
we see that here okay this was key
because it's the very top of this level
before he broke out to actually touch
10k and if we actually zoom all the way
back out this was like the very top of
this pattern back in October of 2019
before he really broke down broke down
into this potential bottom of this Cup
that could be forming into this handle
so that's absolutely huge there and we
have some more stuff we want you to look
at in regards to this okay on this daily
chart you see this blue 50-day moving
average coming up here that's could play
mean support right around the 92 it
could be some really mean dirty support
right there okay if we come all the way
down there but even more importantly if
we would even go below that we could
still remain bullish and this slide
could still be absolutely beautiful
let's actually draw it on here if we
came down to here which is again right
around that 88 $8,700 level the more
time that goes on actually if it came
down right about now it would be let's
say if it came down within the next few
days it would be right around like that
88 so and you know as time goes on this
channel would be going up obviously so
the price would be going up and it would
be higher and higher for that to remain
as the bottom support there now that
would look pretty bearish a lot of
people would be absolutely freaking out
if we did that but people that are just
kind of aware of what's going on in the
market might not be right we would be
more aware of this more where what's
going on with the price $8,800 92 again
those are all significant pullback
targets the lowest that we could go as
we've been saying and still remain
bullish is like 8.2 if we break 8k and
we go below 8k guys then you boys gonna
get bearish okay at that point that's
when I'll say because you guys might say
like what is the what could happen that
you would get bearish that is when I get
bearish we go below 8k then we switch
our tune because then some key market
structures would be
broken and we just wouldn't be able to
have this mindset but again everything
so far is looking pitch perfect and
there's some beautiful patterns that are
forming amidst this downtrend these are
the most exciting times because in the
middle of these down trends that's what
we want to be looking for the next
opportunity for a breakup it's really
fun when the price is really high but I
think it's the most fun when we're
trying to find out when it's going to
have that break
I definitely think that's the most fun
part when we're going to have a positive
breakout pattern okay by far that was
the most fun when we were when we were
charting this this inverse Head &
Shoulders that was insanely fun and what
actually happened it was so rewarding
you guys loved it I remember you guys
being there absolutely fun and again
when we're actually charting this we we
want to look for the same thing now
again for this head and shoulders to
form we needed to come back down to form
this right shoulder we need to come down
to form this head so for this to happen
we knew it had to come down here so a
similar thing has to happen here if this
pattern is going to play out you know
the potential cup and handle the
potential Bowl flag all these things
then the price does need to come down a
little bit more but we're just watching
and waiting because we know the blast
off can be worth it so guys thanks so
much for watching and I'll see you in
the next one
you

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