IS THE BITCOIN BULL RUN SLOWING DOWN? – WILL BITCOIN CRASH FROM THIS HUGE RESISTANCE LEVEL?

by birtanpublished on August 28, 2020

Hey guys what's going on jeb here and in today's video we are going to have a little bit of fun because in today's video we are going to be talking about whether or not the major resistance level that bitcoin is sitting under right now around 11

800 is actually going to cause a big correction on bitcoin you guys know yesterday i made a prediction that in the next four days now three days left bitcoin is going to be breaking above twelve

Thousand one hundred dollars and rallying in the direction of thirteen seven in the last 24 hours you can see on screen bitcoin actually has been rejecting once again at twelve thousand

Eight hundred dollars so you might be wondering jeb how in the world is bitcoin going to break out if we are not doing it right now well in this video i'm going to be presenting my case on why i think that

Bitcoin is going to break out nevertheless i'm going to be showing you why i think bitcoin double topping right now actually might be a good thing for the cryptocurrency markets guys you have to

Remember in technical analysis nothing is cut and dry some things are good sometimes some things are bad another time and in this case even though it looks like we're hitting resistance and

Rejecting from it don't think that's the case we're gonna be talking about all of that in more in today's video i think you guys are gonna get a lot of good value out of today's videos guys

Before we dive on into it i do want to mention the cryptocurrency technical analysis academy because this is what is allowing for all of the awesome back-end expansion that we're working on to continue bringing you guys high

Quality content and to bring you guys even more awesome stuff coming in the future guys if you want to learn everything you need to know about technical analysis lay a strong foundation

And invest in your education so that you actually understand what's going on in these markets so you can actually trade and profit in them i do encourage you to check us out at the link in the description down below

Coupon code bull run 2020 for 40 off at checkout more on that at the end of the video but for now though guys without much further ado let's go ahead and dive right on into it

You might be wondering why i'm so excited today you might be wondering why we broke out the boss lighting mug for all of you new guys which part of the reason we're talking about this is because there are a lot of you

Knew guys it didn't focus the way i wanted to you might be wondering why i am so very excited well guys as you can see we hit 50 000 subscribers yesterday and i actually ran the math

The first video went up on this channel get this 995 days ago we just barely fit in 50k subs in a thousand days and in that time we've uploaded somewhere around 870 videos which means

That i've only missed like 150 videos in almost three years of uploading which is kind of nuts guys from the bottom of my heart thank you so much i'm really excited about where we're going it

Happened just before my 20th birthday too because i turned 20 in about two weeks i am so incredibly pumped i'll talk about that later on the video but for now let's go ahead and jump onto the chart

You might be looking at bitcoin right now and saying jeb isn't this zone of resistance right here the one that you said that bitcoin is going to break out of in the next four days yes in fact that is the level of

Resistance that i said we're probably going to end up breaking out of in the next four days but you might be wondering jeb if bitcoin is going to break bullish then why is it not doing so why is bitcoin

Correcting here why jeb in fact does it look like bitcoin is setting a double top on candle bodies and why in fact have we set some lower highs on our candle wicks jeb

If bitcoin is to break to the upside i hear you asking that good question the reason i'm still feeling bullish on bitcoin is because of this as you can see right here we have an up training level of resistance

As you can also see right here we have an uptrending level of support as you can see right here we also have a downtrending level of resistance and as you can see right here we have a downtrending level of support

What is that well obviously guys it's a diamond pattern and we haven't talked about diamond patterns much here on the channel because they're not actually all that common but in this

Case i do believe that this is actually a very bullish thing for bitcoin you might see bitcoin trading sideways and thinking well hang on a second jeb why would bitcoin break to the upside if we're

Trading sideways for those of you guys in the cryptocurrency technical analysis academy who've seen this video on support and resistance you will understand how resistance levels actually behave

And that is the more times that you test them the more you're whittling down the level of resistance's strength so every time we come up and we test this zone we're putting a chink in the armor we're

Knocking off some hit points we're bringing down the shields a little bit on that level of resistance and it gets harder and harder for the bears to justify that level of resistance because the bulls and the bears are also asking

The question if bitcoin is bearish and is going to reject here then why the hell hasn't it it's basically a case of if bitcoin wasn't going to break out here

Where's the giant correction if this happens and by the way there is a chance it happens i'm not saying it's guaranteed we're going to break to the upside this might happen but until this happens

We have no reason to believe anything other than in the trend remember guys one of the most important rules in technical analysis not trading but in technical analysis is this the trend is your friend until it ends

What's the trend right now can i hear it in the back right right it's bullish duh bitcoin is in an uptrend so why are you so worried about bitcoin breaking to the downside and even if it did

Don't you remember that we have some very massive strong support at 10-5 and don't you think it'd be a good buying opportunity to get in a thousand even eleven hundred dollars lower than where we are right now

I think so we confirmed a bull market i think we're going up so if you're worried about bitcoin pulling back i ask you the question and i'd love to hear the answer in the comments why why are you worried i'm confused i'm gonna

Make myself very clear on this there is a possibility that bitcoin pulls back to 10-5 i might be wrong on my four-day prediction of bitcoin breaking to the upside

Been wrong in the past i'll be wrong in the future and i'll readily admit it if i am but i will also make another prediction if that happens that bitcoin is going to bounce around 10-5 and we will rally and we will be

Above 12 100 within 30 days if we do break to the downside like we just talked about either way it doesn't really matter because if bitcoin breaks out now great we get our profits now if bitcoin

Breaks out of wheat a month from now great we get our profits and we had another entry position look guys the technicals the fundamentals and the economy at large are all very clear on the bullishness of bitcoin

Right now many different national economies are in dire straits right now the u.s dollar i don't care how much money they print is probably going to be fine when this is over with

But a lot of countries over maybe in the eastern bloc and africa south america pretty much anywhere outside of the first world a lot of countries are going to have problems with their currency following the recession that we're going

Through right now and where do you think people go when they are concerned about their currency they put their money in something they consider safer something they consider a hedge

Something like gold something more portable up to date like bitcoin i think we've made ourselves very clear here on this channel i think you guys understand where i'm coming from when i say that

Bitcoin is doing very well so yes on the chart right now bitcoin is double topping but i want to caution you against being so caught up with one tree that you don't see the

Forest because right now yeah bitcoin's double topping so what you need to see the forest for the trees and not just look at one technical and say oh look bitcoin's double topping therefore we will go down

Because i saw one technical indicator and i'm a robot and i trade based off of one technical indicator and then oops i'm broke like don't be that guy technical analysis

And reading charts is so much more than saying i found one indicator and it must be right because it's been right seventy percent of the time before well what about the thirty percent you know what about the extra analysis

What about the thirty thousand foot view where you're actually able to see everything that's going on what about this might just be one battle that we're losing and even if we do so what because we're

On track to absolutely dominate and win the war what's even the point of being worried about it so if you guys are worried about the market right now i'd say don't bitcoin breaks the

Downside cool beans let's get some more bitcoin let's go ahead and buy in some more if bitcoin pulls back to ten thousand five hundred dollars i will buy five thousand dollars worth of bitcoin and show you the transaction so will

Bitcoin reject from our zone of resistance and pull back and break to the downside maybe i still don't think it's very likely but even if it does i've made my point

It's probably not going to be the end of the world for bitcoin it's just not there's no reason to be concerned about it the trend your friend until it ends have faith in the process guys

Bitcoin's bullish we're the most bullish right now that we have been in three years remember what we were talking about four or five days ago about where bitcoin's going

It's going probably to at least 13.7 and probably to 20k in the next eight months or so guys short video that's just you know i made my point don't need to ramble on anymore about it waste your time i kind

Of got to the point don't want to be one of those guys that says this is what we're going to talk about in the title and then you have to watch through 18 minutes of him talking about his dog or something

To get to the point i make the point first and i talk about my dog later anyway guys the dog of this video is the fact that we hit 50k subs yesterday guys oh my goodness i am so incredibly pumped thank you guys so much

Look i i've told this story on on um on camera before but obviously there's a lot of you guys who are new here so you might not be familiar with this story i'm 19 years old right now i turned 20 in a couple of

Weeks and we started this channel i started this channel i i'm about to get to why i said we i started this channel i feel so uncomfortable saying that i started this

Channel and upload the first video on november 16 2017. i remember it was somewhere around december and i was working at barnes noble as a cashier and customer service

Assistant and uh at a local college and i was waiting for my shift to start and it was i was sitting out there i still have the jacket i was sitting in actually it's in my cloth i love that jacket it ripped

But i was sitting there looking at youtube studio which for any of you that don't know that's the application on your phone where you can look at your youtube statistics i remember watching that we've gone from five subscribers to

Seven subscribers over now we got two subscribers in a day if you don't know this is the fifth youtube channel i ever ran the four before this had a collective maybe 150 subscribers

So getting two subscribers in a day big deal for me because i've been doing youtube on and off making videos for fun trying to make something out of it for four or five years i saw that and then i was just

Like we're going places we got this i'm so excited and i decided in that moment where i saw us go from five to seven subscribers and i was thinking wow that's like half of my

English ap class because i was a senior in high school at the time duel enrolled at col in college i decided that i'm never going to say i on this channel because i didn't build

This i decided that from pretty much day one it was actually probably day 14 or 15 but i pretty much decided from day one that i was never going to say i i was going to say we

Because guys i want you to understand that i i just don't match up with a lot of the other people you watch on youtube most the people on youtube it's a business for them and look this

Is a business too but i don't want to run it the same way that everybody else does i want this to always be a passion first and then a business second and to do that i have to make sure that i keep myself as humble as possible and

I make sure i remember what got me here which was not my own work it was the faith that those of you who've been here since the beginning had in this channel in this process because guys

First 18 24 months we were uploading here on youtube videos sucked like right up until about the time taylor got on staff the videos when i was making them were terrible unedited raw video files we got a 25 000

Subscribers like that and guys in the same way that overnight we had gone from five subscribers to seven subscribers we're about to go overnight from 50 000 to 70 000 because we're

Heading for 75 by the end of the year that is the goal here mcafee media and i'm really really excited to get that silver play button you guys are going to see some tiers on that video so guys before i go into the

Sales pitch about c2a i want you to understand why that exists i want you to understand why this channel exists in the first place this channel exists to bring you guys content and teach you

About markets because i saw what these markets did how they changed my life how they brought me from the position i was when i was growing up which was not the best to where i am now and i'm so

Incredibly thankful for that i thank god for that every single day the point of this channel the point of my work my entire career is dedicated to helping you guys get out of bad spots that you are in

Through working on yourself investing in your education and being a better version of yourself today than you were yesterday if you're not reinventing yourself every six months you're doing something wrong so guys

With that said thank you so much for 50k subs the next 50 000 up to 100 they're gonna come quick you mark my words we're gonna be there sooner than you think

And i'm really pumped about that i've said it four times but anyway before we go guys this video was a little bit more of kind of sentiment and not so much technical analysis we'll be back to a

Lot more technical analysis content tomorrow i just had to celebrate a little bit before we go though guys i do need to mention what makes this channel and the entire vision of this channel possible

And that is the cryptocurrency technical analysis academy we had 23 people enroll in ct-2a yesterday and the day before and the day before that and the day before that because you

Guys are just going crazy we've had a hundred people sign up for c2a this month and it's only the seventh guys the cryptocurrency technical analysis academy is 36 videos and 12 hours of high quality content

Where i have poured out everything i know into this academy so that we can do exactly what i talked about a second ago which is meeting the mission statement we have here

At the crypto jeb channel and the mcafee media company that we run is to help you guys learn markets and understand markets and profit in markets and then be able to change your life with the money you make in those markets

I believe that money is one of the most important tools for good and for evil but hopefully you're choosing it for good we preach a lot about that too here if you guys want to be successful in cryptocurrency markets if you want to do

The things that you want to do you need to invest in your education it is paramount you can't be sitting on your laurels you can't be just doing the same thing over and over again look guys

Trading is linear yeah you might make 500 this day 500 next day 500 the next day boom you got 15 000 in a month cool good for you that's great fifteen thousand dollars a lot of

Money i might use something lower like fifty dollars a day you're getting fifteen hundred dollars a month right but when you're investing in your education and when you're learning that goes fifty dollars

Sixty dollars eighty dollars ninety dollars a hundred dollars a hundred fifty dollars five hundred dollars ten thousand dollars in a day it's just moon shots because you're investing in your education

And while trading is linear investing in yourself and developing your own skills is exponential and you're going to explode that's the only way that you're ever going to actually accomplish what you

Want to do in this market is by constantly reinventing yourself and investing in you i believe wholeheartedly that the most important best investment you will ever make in

Your entire life is an investment in yourself better than bitcoin better than stocks better than gold better than silver better than tesla that's saying something better than

Anything better than xrp sure as hell better than xrp investing in your mind is the best thing you will ever do and i promise you if you go down the same path that i have gone down for

The last three years you've seen the results of the work that we've put in then you will understand that self-improvement not watching a bunch of tony robbins videos and getting motivated i'm talking

Actually reinventing yourself forming habits learning skills you will understand that that is the way that is the truth and that is the life that is how you get there

So do it invest in your education do it with us don't do it with us i don't really care the point is c2a is the best resource in this entire industry and if you don't believe me that's why

We have a full 14 day money back refund guarantee snap your fingers you'll get your money back it ain't no big thang yeah anyway guys that is going to wrap it up for this video look we've just closed the first

Chapter of this channel two and a half years for writing one chapter it's gonna be a long book don't worry there is a lot to come and you guys are along for the journey and i am

I am so fired up i'm so fired up guys i'm so excited so thank you guys for 50k subs i but what they're they're not i'm this sounds cliche but they're not words to describe how appreciative i am i really

Am guys thank you so much like i said the next 50k are gonna come pretty quick and we're gonna be doing a lot of really cool things anyway guys i'll wrap it up now before i start being silly

That is going to do it for today's video guys but as always before i go i do just first want to thank each and every single last one of you for watching as always and i will see you guys

Peace

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