by birtanpublished on September 21, 2020

Wow I can't tell if it's these charts of the raisins that I found under my fridge but I'm getting extremely dizzy for the second time and for the first time since the beginning of January 2020 is Bitcoin exiting this descending channel now on the daily chart we gotta take a look at

This is well it is absolute crunch time Bitcoin is coming to an end coming to a conclusion coming to a mega blast off zone here at the end of this pattern a lot of people are saying that this is a potential Bear Flag ok guys this is what

They're saying but you can see in these green lines is also potentially an ascending triangle which is a much different breakout target so we're gonna be taking a look at that in this video what is the real target and as well

Right under our noses what if Bitcoin was actually secretly breaking above a very key level of volume that it's actually now currently above and if so what are some upside targets well Bitcoin be skyrocketing like a guy

Going on a spaceship to the moon or will it be going down like my GPA when I found out that the markers have different smells guys get your hands out of your jimmies let's get into these charts wow I cannot

Believe this well I think you guys so much for joining me here on this special update Bitcoin has been pretty boring the last few days okay it's been trading sideways in a very small consolidation pattern since about the 23rd of March

But according to my calculations and according to many other things it is potentially coming to a climax an ascension a level where it bursts or ghosts down so we have to show you that data guys so much exciting stuff Bitcoin

Has really just been playing with our minds like a lot of other things very important so we cannot wait to get into these charts premiere let me know looking at the four hour and the daily chart guys but as well the month is

Almost over and we are going to be doing a giveaway for this bad boy all you have to do is leave a comment below and gets from you the channel make sure to leave a like hit that subscribe turn on the dings Wow let's give you

These charts my little chunk illunga so let's actually take a look at on this chart on the for hour so this is very important here we see many people talking about what is considered a Bear Flag as you can see this everywhere this

Is a classic example of a bear flag this is a classic example a downtrend followed by some consolidations slightly upwards and then a breakdown now I do see this and I've been talking about a certain move for days now coming

Mattenderle down to this 50 we've been talking about this for about a week now there's 54 and why it's so important the breakout of a Bear Flag would actually be much lower than that okay so if a bear flag would actually be

Forming it would actually be I think the targets actually in the 2000 to 3000 dollar range okay so substantially lower basically cut our price now in half and maybe even then some so people calling for a bear flag are really calling for

Some downside but I don't necessarily think that's where we're headed okay I want to go into some reasons for that as well with a bear flag one of the things you do usually see is a touch on the bottom here up to the top bottom and

Then again up on the top and that's where the rejection usually is and then you see that breakdown so guys in the long term let's say this is actually interesting to note actually if a bear flag is forming it is actually possible

That we get up to a very key level of resistance here that $8,000 range we've been talking about why that's so critical the $8,000 range is just so important especially on the weekly it's exactly where the 21 week moving

Averages was the biggest weekly moving average in my opinion there there are a lot of indications why it's not a bear flag and what we have in green here is more of an ascending triangle we could be seeing a move out of there but again

Case in point I would only be somewhat persuaded to see this as a bear flag if we did get a break here if we did break the 7,000 if we did break it and we found substantial resistance at 8 K and saw a very strong push back down and not

Finding support then on the 7k so maybe let's take a look at this so a potential bear flag if it was actually forming I would expect something more like this to happen okay we do a little bit of this a little bit of this and I honestly would

Want to have seen us already being heading towards up this up to this level prior but we haven't actually gone up there yet so this is kind of not looking as good as good on these charts so more of a bounce to here and then maybe

Something like this and plummeting right through this and then then maybe we could consider it that but again I think it's way too early to really consider that and for right now I think for a few reasons this actually could be an

Ascending triangle instead and as well one of my biggest reasons for that is just if we switch over to the daily chart this amount of volume for one okay it's just so important everyone knows this volume is a huge indication of

Reversals here same thing we saw here massive volume here when we saw pretty much found finding a temporary bottom there and going up like 11,000 more dollars from 3,000 to 14,000 u.s. dollars really big really

Big gainers you can even say some of the biggest gainers that we've ever seen same thing here when we found that top there was a lot of volume same thing it marks a reversal basically so tops and bottoms are usually found by high

Amounts of volume and again look at this fungus this is absolutely huge let me actually zoom on out look how big this is you see we had decreasing volume here you saw a decrease and then BOOM mega moonbounce going to the moon right there

The chart just mega moon does okay so so much volume so that's one thing and obviously you see that on the weekly as well look at this absolutely massive amount guys just such big levels of volume there so that's one reason that

I'm not necessarily convinced that because again this is what that would look like this could play out over a few weeks actually but let's say that happened guys that would look like this on the charts basically that's what a

Bear Flag would end up looking like if this you know played out over the next few weeks that's what it would look like let me move my blue moves a little so my camera isn't there it would basically look it would drop us down below the 300

Moving average which we already barely touched on reluctantly didn't want to do that that would just be so drastic and I'm more inclined to believe that we still should have somewhat of a push up now obviously we see the dow jones we

Saw SPX we saw a lot of fusional markets rallying today guys in regard to the stimulus but again bitcoin is again seemingly it's not necessarily doing much today compared to what the stock market was

Doing you know has not been bouncing Bitcoin was doing something the past week different from the stock market so there already is some potential D correlation if that's a word there but again we just have to take a look at

This that would just absolutely look drastic on the weekly chart and I'm actually kind of shocked that people are that bearish and it's actually a large amount of people I've been seeing this on prominent YouTube channels on

Prominent trading view accounts on reddit's on twitter as well big twitter influencers saying guys look we see a massive bear flag and again it would probably need a push back up to 8k before getting rejected but then a

Massive push down because it would be about the height of this flag if we zoom out who would roughly be about this length here and here and this brings us back down to about like two to three thousand dollars okay actually on the

Low end like the high 2000s low three thousand so that would just be huge there but now I want to actually make the case for the opposite now either way either way we have to note of is that this pattern right here

Is consolidating very much so if we're going to see this this uh bearish pattern then we'll probably still get a breakup but if we get a breakup that's why it's gonna be hard to recognize if we're in here and this is ascending

Triangle we break up there could be a very bullish pattern that could get us back to try and test this 8k level take us to the middle channel here or even we might find some short-term resistance at 72 which we think is really important

There but for the most part this is gonna be the very hard level to break up here okay if we zoom out it's just very much a very important level in terms of volume in terms of historical resistance everything but something really

Important to note as well is that these levels are more critical than $10,000.00 is now back here 8000 was not as important as it is now it was really important because it broke us out of this descending channel here you can see

This ascending channel highlighted in the purple so it broke us out of that but now because we have this downward resistance coming from 20k down to like 13 K and then again about 10.5 K now the biggest level in my opinion is gonna be

Probably around this 8 K level guys if we take a zoom out look at this we take a zoom out and we look at the volume profile of the past over two years look where the 8 K level is this is a very large amount of volume profile here and

What we actually just got back above was about that six point four six point five which is very huge primarily that was all formed because of this ascending triangle back in 2018 and breaking out at the end of 2018 and forming this

Ascending triangle at the beginning of 2019 now because this overall giant pattern is consolidating so much this massive pattern here okay look how big that is there's absolutely massive pattern right

There it's just consolidating so much now that I think 8 K you can see 8 K is basically right in the middle of this massive pattern and again you can see there's so many reasons why that's gonna be such big resistance if we break that

I really think that we could actually shoot up to 10 K and I think once this is broken I think this is gonna be so key I think if we break it here if we break the 10.1 basically by the time he gets up you're probably just 10 K even

Or a little under 10 K I think that'll propel us much higher okay found a lot of resistance right here I don't think we'll need to get back above this point necessarily before we see a massive amount of big moves up so

Basically what I'm saying from that is I think we could get explosive before we even get up to this five level ten point five thousand dollar level so really important there Bitcoin for the first time is breaking

Out of this again since the beginning of the year of 2020 will this hold up will we find significant resistance most likely but on the downside is this actually going to be a Bear Flag or are we forming an ascending triangle one is

Bullish the ascending triangle and one is bearish the Bear Flag and guys most importantly I can't overstate this enough the most important thing is actually here on the on this chart you can go back to all the way back to 2017

The volume profile what I mentioned earlier in the video this peak volume right here which is actually the largest on the chart second only let me actually turn this off so you can see this second only to down here okay this is where we

Got that mega bounce right here you can see that volume profile now here we have the second huge amount and actually we're actually right above it right now this red line is the concentration of it the peak of it and the Green Line is

Where we are so we're actually above that so if we can actually get a break getting above 7000 so important get a break up to here retest you know the 8k level if we get above that that I think will be off to 10 K 13 14 15 an all-time

Highs much sooner but again I think right now this is the most important level if we get a bounce here the next level obviously is 8 K right here on this zoomed out chart guys so important so let me know what you think very

Important stuff crucial stuff thanks so much for watching guys if if you want some extra in-depth ta check out the description below t4 it's what all the Zoomers and coomer's are talking about

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