by birtanpublished on September 30, 2020

holy mackerel is Bitcoin entering the
third wave after beginning this break
the beginning of the year are we now
seeing the beginning of a leg up or in
fact are we not and are going to visit
the targets that we've been talking
about for the past few weeks is Bitcoin
going to be heading down potentially at
eight thousand seventy seven potentially
even seventy five hundred dollar level
or again is Bitcoin bracing to begin
this uptrend we already have a few
confirmed touches on these smaller
timeframes these smaller timeframes are
not incredibly accurate but we do have
to look at this on the charts as well
did Bitcoin get rejected at the key area
that it was supposed to be testing
potentially even breaking above and if
this pattern doesn't play out is there a
more sinister pattern at play on these
charts will Bitcoin be revisiting the
bottom of this trendline wow we have so
much to take a look at have no fear
daddy's here we are in the clear let's
do this Wow what's going on my muncher
is my crunchers and my late evening
lunches we have so much to delve into in
this episode we want to start here
actually with Twitter as we just tweeted
this out and honestly within about five
minutes after tweeting this out we broke
down okay we have a lot to look at in
regards to this because usually
ascending triangles are a bullish
pattern guys but it is a game of
statistics which is why I did not put an
hour arrow one way or the other on this
chart we actually broke down to the
exact target of what this ascending
triangle would break out to and we'll
get into more detail and show you that
on these charts but in fact yes it was a
break down to the bottom of this channel
and as we're recording this video it's
currently sitting right at the bottom of
this channel so this is absolutely
crucial so many exciting things to talk
about in regards to that guys because
well we do have a few announcements
before we really dive into the content
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new make your life subscribe turn on the
dings and let's do this as well guys
awesome as of yesterday we added over 30
more minutes of content to this course
every week we're going to be adding a
ton of new content and in fact within
the next few days we're gonna be adding
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this will not last forever so let's
start off with this beautiful pattern
that we have here so is Bitcoin
potentially forming a new trend okay now
we can actually zoom out and kind of
give you
a little picture of this this would be
the I talk about the third trend so this
will be this will be quick okay this is
the first trend okay this is the first
we had about a month and a half of
upward momentum and then you can see
here pretty much an entire month of
downside now are we entering potentially
a third wave now I'm not saying this
yeah this is a possibility but we do
have other things we want to talk about
if you guys have been following the
channel over the past two weeks you know
we've been talking about much more
downside as a possibility here but I do
just want to illustrate when I'm talking
about the third wave when I'm talking
about entering like a third phase this
is what I'm referring to this would be 1
this would be 2 and this might look
similar to some people like to Elliott
waves I would not consider this that I'm
not really a big believer in Elliott
waves but I do think obviously the
market moves in a pattern similar to
what an Elliott wave would do anyway
when there's pumps there's dumps it goes
in cycles it goes up for a lot and then
it goes down for a lot and we can
honestly just see that pretty much on
any timeframe right you see it goes in
waves basically I think the whole
premise of Elliot waves for the most
part kind of makes sense but again I'm
not a big believer in just using that
what we do see is that as of the
breakout at the very beginning of this
month so only about five or six days ago
breaking out of this falling wedge we
have potentially entered this new
channel and the reason I say potentially
is because we have multiple touches ok
we have a touch here then we have a
touch here we have a touch here and then
a touch here and actually as of the last
30 minutes we have a touch here so
that's five total touches three on one
side two on the other so this pattern
actually could break out sooner than
later because that's usually the amount
of touches you get before you break out
of a pattern now this could be breaking
to the downside if we don't hold here
you did see it actually did bounce let's
actually go to the 30 minutes you can
see it's a little bit right here came
all the way down bounced and now
currently it's closing it opened this 30
minute candle pretty much right here so
it doesn't necessarily know if it wants
to continue going there honestly let's
take a look at this so they're sending
triangle they usually do break up you
can see here if it would break down the
target is exactly the pretty much the
height of what the entire triangle is as
you can see here this is exactly the
case so you can see this is the height
of it right here let me draw that
and then the breakout was literally the
exact height of it as well so that was a
perfect breakout to the downside again
usually it would want to break to the
upside but this broke to the downside
now regardless of this triangle that we
have drawn here because this pattern is
kind of done don't really want to look
at this anymore but I'm just gonna keep
it on there because
kind of looks nice honestly this is the
most important thing okay we talked
about like the heart lines of these
upward trends upward channels channels
are so important I think and this is
kind of like the very important level
and again the reason I think this is so
important when you have a channel
there's usually a lot of friction and a
lot of action that goes on right in the
center of it
okay and I can I can illustrate this for
you here so right here we found support
here for days we broke below it and you
can see this was a resistance for days
we broke above it took a few days with
that when we did we actually moon shot
up to the top of this channel and then
you can see ever since March 5th we have
been trading with this as the bottom
okay this also makes up the bottom of
this ascending channel but again this is
also the heart line of this channel here
so again you can see this area has been
absolutely crucial even more so you
could say then the top and bottom of
this channel okay the heart line is
always usually very important when it
comes to support and resistance and so
far again it's been playing a key role
and again you notice as well when it was
not able to hold and was consolidating
in this pattern it just broke down to
the bottom of this channel so again
beautiful to see at this point though I
would like to say that this pattern is
potentially over at this point as we've
had multiple touches on the top and the
bottom so I wouldn't be surprised
actually see us break down out of this
but I would also equally not be
surprised you can see this pattern
continued if this is a bullish move up
then this pattern would have to continue
okay we would most likely have to come
up here and we'd find a lot of
resistance again right around that
$9,200 level which we were not able to
break and if we did break that
definitely think going up to 94 9500 it
would be in the cards if that were to be
the case but again as this video is
being recorded you see there's a lot of
a lot of pressure right here and it
looks like this actually wants to get
pushed down especially down to this
$8,800 level and for other targets we'll
have to look on other time frames and
other charts here as well so again if we
get a push down I think the 88 8,700
would be crucial we have the 200-day
moving average here this yellow line
this would be super important if Bitcoin
is going to get pushed down right here
okay you see we did not quite come up to
our target of 92 that we've been talking
about for two weeks now this has still
not been been really even touched that
you can see we can't even come
necessarily up to this 90 to $50 level
just yet
in fact the 21 is actually coming down
here so it's actually lower than the 50
moving average was so again I think
that'll play some play a role here
things are really heating up in regards
to this and this will be an interesting
pattern if we see something like this
play out okay so say well you know we
came all the way up here and let's say
we get pushed back down again maybe it's
like that 82 or we actually go all the
way down and complete this shoulder here
like that or even complete this at 8,200
because again guys we still have not
come down to our target of the 82 when
we're talking about downside this is
what our target was for this cup and
handle and just a nice really good
downside target in general and we still
never came down to that we came down to
about 84 okay we came down to 84 we
never came down to that 8200 what we're
talking about so could we potentially
get a push back down to here absolutely
and again if all that momentum really
did switch like that I could see us
easily maybe even going back below 8,000
in the short term before we get some
kind of bullish reversal basically what
I want to say though overall I
definitely think a bullish reversal is
coming soon and when I say soon I mean
within the next few weeks I think it's
not going to happen like within a day or
two I think this has to take some time
to play out very important to look at
there as well one thing people might be
pointing out is this I don't really
think this looks very good but in terms
of like the structure it doesn't look
like it makes a lot of sense but people
might be seeing something like this if
we do get a pushback here then okay so
let me actually illustrate that better
let me zoom out so you guys can see a
little bit so maybe like a shoulder here
they might be pointing this is the head
and then this is another shoulder and
that regular head and shoulder and then
another push down again the only reason
I would think maybe that doesn't look
very valid is because these shoulders
are just so much smaller than his head
and that's not usually how they form for
example you guys can see this you can
see shoulder head shoulder for the most
part these shoulders were about half the
length is the head for this the head
would be about like three to four times
as big as the shoulders so again I don't
necessarily think that looks very
realistic there if it would I think the
dumpsite torque would actually be right
around at 75 it actually pushes down to
about here if that would be a target
again that's something I'm looking at
but not really too confident that that's
gonna play out for the most part I think
there are a lot more important patterns
and a lot more other things that are on
the trucks right now other than that but
if we did get a push down to that 84
maybe even going to that 82 finally then
again that would be interesting if it
played out immediately then again that
would make this pattern even uglier but
if it did take a few days to get down
here that would a lot of
I know for a fact a lot of people would
be tweeting this out or making videos on
this so that might be a thing people are
really gonna be eyeing up but again it's
very uneven a very ugly pattern but
again sometimes ugly patterns can play
out and to just illustrate that for you
again you can kind of see how ugly that
would be on this chart actually this is
a really good illustration of this you
can see what looks something like this I
mean look how massive that head would be
it just does not really look like what a
head and shoulders typically is but
again curious to see what happens here
but again we could even find some
support right here at this 87-88 because
we have the 200-day moving average right
there and that's really important we're
gonna get squeezed in between this 200
in this 50-day moving average okay
something like this so it should be
interesting to see over the next few
days how that plays out as well lowest
target let's say we did have something
like this play out
Louis target we could really go and
remain pretty bullish getting out of
this 75 78 okay in between that area
would not want to go would not want to
spend a lot of time there we would need
an immediate bounce and for that to
happen we would need to see some very
strong volume there if that did in fact
happen you get some momentum actually
pushing up here I don't know I think
this actually could go either way at
this point but I am mainly leaning
towards some short-term downside you
guys so mainly the main thing I'm
leaning towards probably like 60 60 to
70 percent I'm leaning right now towards
some some some continued short-term
downside okay for an upside target again
I think that 10,000 obviously is going
to be the huge area right here it's
going to be by the time this gets up
here right around at the top of this
channel here and for a million other
reasons why 10,000 is probably gonna be
significant support there as well so
guys thanks so much for watching thanks
so much everyone as well for buying the
course guys we have so much so excited
we're so excited to add like 30 more
minutes yesterday I'm gonna be adding
more just in the next coming few days
and we want to have this thing packed
with you know 10 15 hours worth of of TA
stuff okay so the price most likely will
increase in the futures we add more and
more content so again 50% off goo Gert
okay going to be the best deal of a

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