by birtanpublished on September 30, 2020

Wow dingdong the witch is dead hide your
toes because I'm under the bed guys
welcome back to this exciting update the
very last time that the 21 week moving
average met exactly with the bottom of
this trendline right here was back at
the beginning of 2019 and what we saw
immediately after was an extremely large
pump over a thousand dollars in a single
daily candle this trendline is extremely
crucial the structural trendline it has
not been broken save for a few wicks and
some candles closing but immediately
going back above that will Bitcoin hold
here and if it doesn't what could happen
to the market
aside from holding right at the 21 week
and 50 week simple moving average we
also have Bitcoin here trying to bounce
above this 50-day moving average as well
Bitcoin currently in the no man zone
trying to form some sort of a pattern in
fact yesterday's pattern played out
perfectly and did breakout to the target
but you do see this 50 moving average
coming down to find a little resistance
there but it's also being squeezed in
between this 21 moving average here
well Bitcoin break to the upside will we
stall out for a little bit we have to
delve into that and here's a perfect
illustration on the weekly chart again
the 50 and 21 moving averages on this
weekly chart coinciding perfectly here
if Bitcoin is able to find resistance
and get a bounce to at least the target
that we talked about its needing to
break that $9,200 then boys maybe we're
in for some sunshine
so guys turn off those dirty videos
clean your socks and let's get in to
this video Wow thank you guys so much
for joining me here on the special early
update we have so many things to get
into but guys if you're new the channel
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today is the first day that we launched
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you'll get 55% Oh so guys really jumping
into this chart we can take a look at
this falling wedge that we saw breakout
yesterday okay so yesterday when I was
making the video it was very earlier was
similar to this time a little bit
earlier actually and the video right
about here in the breakout we actually
did a tane kind of breakout target for
this small pattern on the 4-hour chart
but you do see we run into some a bit of
a slowdown here at the 50 moving average
right here you can see it wycked right
to here and that's kind of getting
squeezed in between both of these guys
but this was able to bring Bitcoin back
above this 21 moving average here on the
4-hour so that's important we need to
keep an eye on that um as for right now
if we look at this chart it looks like
some very much sideways consolidation if
you notice you know you look on this
chart over the past few weeks and months
you notice we don't really spend a lot
of time doing something like this so I
am beginning to think again we are gonna
see a move one way or the other but guys
because we actually take a look out and
really look where we're at on this chart
it's pretty critical it's a pretty
critical zone okay we basically have to
find some support and move up from here
even if it's only short-term even if
we're gonna continue down okay for this
to remain healthy for right now again we
need to get a bounce here look at this
we have the 200-day moving average right
here okay that's where we fell through
it temporarily tried to find support
bounced and now we're currently just
really trying to do that into a better
illustrate that actually look at this
you guys so this is the weekly chart and
again if we go to the daily you can see
this same moving average is right here
this yellow line right here but if we go
to the weekly you see that the 50 weekly
moving average and the 21 weekly moving
average are right here also exactly
where this line is so basically what
needs to happen is Bitcoin needs to get
a move up over the next few days and
really cement this it could trade
sideways for a little bit but it
basically needs to go up otherwise this
is going into very fishy territory and
is what we do have to take a look at
these markets we have to see how today
plays out for these markets because
again they could have a big impact on
how this moves but for right now bitcoin
basically needs needs to perform pretty
nicely here because we're in a very very
tight spot okay we had a massive weekly
candle from 10,000 we over 1500 dollars
last week we went down okay now it's not
similar to this drop in the sense that
this was this this drop was actually
caused by breaking through that 21 week
moving average okay so this was a
descending triangle right here and when
we broke through that when we actual
broke through that 21 week moving
average right as we broke that you guys
can see we went from 9800 all the way
down to 7700 in a single week bounced
around a little bit and you notice even
after this insanely large dump there was
a pretty big pump back up okay same
thing here we had a really large dump
here after I mean that was prolonged
dump pitch and eventually we did get
another pump back up this time we got a
very sharp dump so to see another
similar dump that size I just don't
think it's likely also this would
destroy market structure if it did do
that now we do have to talk about this
200 moving average here on the weekly
okay so this is where it really bottomed
out that three thousand dollar level
back at the end of 2018 the beginning of
2019 now one thing you notice is we
didn't come straight down to this okay
once we actually broke through this 50
moving average and as well broke
underneath this 21 week moving average
it took quite a long amount of time for
us to go down to here so let's say a
worst case scenario would happen let's
say we did break this it wouldn't make
sense that we would come straight down
to this level at all you know if that
would happen I would have to play out
over a very long period of time most
likely there's so much resistance and
support so much support underneath us
here if we actually zoom out again guys
look at this chart going back the last
two years actually critically right now
we're in a very strong spot but again
that 8200 is just massive there's so
much so much volume there okay if we
zoom out and just show again we looked
at this the other day this has insane
amounts of volume right here and then as
well the 7000 is absolutely massive now
let me actually minimize this you guys
can see this look at this right here my
camera was blocking in the last video
but look at this this area where we
bottomed it out is by far the biggest
amount right here and now obviously you
see some stuff down here maybe that that
would be I mean that's $1,000 so like
basically the barest the bearish of the
bearish people even if we go on like
another two years of downtrend they
don't think we'll go below a thousand so
that's the absolute lowest even the most
bearish people think if we did go below
seven thousand again guys it would break
this okay this is like this red line
represents our lowest target right here
where we have to bounce and wick okay
that's the very lowest because again
this line would be destroyed then if
that would be the case but I think
optimally the best move that we could
have right now if we opened and had a
pump up to this $9,200 so we're looking
for on the upside to get bullish because
we're not bullish currently in the short
term to get bullish in the short term we
need to hit that $9,200 range a million
reasons why
okay the 50-day moving average is
probably one of the most key areas and
it puts us back into some nice safe
territory there and actually as we're
recording the video we do see a move
having now so going from eight thousand
nine hundred currently about a little
under $200 going below that we're trying
to test this this moving average right
here that 21 here on the 4-hour okay so
if we're actually consolidating into
this move here we could potentially
saying I'll move up now I've looked at
these charts I don't necessarily see any
type of clear pattern on like the
four-hour necessarily here but again on
those bigger timeframes we see potential
patterns and again if we want this head
and shoulders to complete we really need
to see some momentum over the next few
days pump the 9200 be the start of it
right here breaking this then this 21
day moving average and then we could
potentially climb back up and retest
there that is by far the bullish
scenario so guys make or break times
this is definitely the calm before the
storm there is okay this is the decision
period here you know looking at this
chart there's no clear pattern of you
know which exact way it needs to get
wants to go but there is a pattern of
where it needs to go if this is to
remain healthy and I did want to mention
something else here as well
so guys we were on about a two-month
uptrend right here right and we have a
pullback so if you know what was the
point of the Golden Cross what was the
point of all these bullish indicators
and everything that we were I mean
everyone was talking about for the past
two months what was the point if we're
just pulling back and I want to I want
to say this you know if it is in fact a
bullish trend now you know because
there's so many confirmations we broke
out of that bearish trend and if we're
on a macro bullish trend now the
difference and the thing that I want to
point out is that what we will see is
similar things to what we just saw that
dip they're very similar to like when
we're in a bearish trend okay and we see
massive pumps up that immediately get
rejected and jump back into the trend so
basically what I'm saying there is it's
very possible only if this is a
confirmed bullish trend okay only if
this is bullish that what we're seeing
now is like the opposite of the bearish
trend because remember bearish and
bullish trends are different and they
trade differently but overall if we're
an actual bullish trend this thing is
going to jump right back into the
bullish trend even after a significant
pullback here but again we have to wait
for confirmation of that we got the
Golden Cross we got all of these moving
averages getting smashed through in a
good way you know breaking up over the
past few months and again with this
two-year bear market so far with this
pattern everything that we did
every time that we went back up as you
can see here you know look at this the
opposite way this would be like a dump
for us now and then this would be a pump
for us now so every time this went up
people were thinking oh maybe it's going
back up but the overall trend which is
very bearish and that's how the bearish
trend is so in fact if we're actually
breaking out into a bullish trend at the
very again if we were this would be the
very very beginning of it okay and
they're already so many confirmations
like we mentioned about the moving
average and everything but if we are
breaking into the bullish trend then we
will see pull backs like this that over
time very quickly will get brought back
into a bullish trend so we would need to
see a bounce and again if this is
actually a bullish confirmation the
first thing we need to do is break that
9200 and as well I just want to end the
video talking a little bit about this
okay so anybody that signs up it's a
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thanks so much for watching and I'll see
you in the next one

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