by birtanpublished on September 11, 2020

what about our vows for richer for poorer I'm sorry but I need a man who could take care of my needs and that man is not you visit Scott at the office and finds him with another woman she's now all alone without anyone to

Take care of her needs the apex the point where the two lines touch at the tippy tippy top the breakout time frame how far into the pattern does the breakout occur on this ascending triangle we're gonna measure exactly how

Far into this pattern how far into the apex are we what is the breakout target and what is the likelihood of it breaking to this specific target is well Bitcoin coming back to the top of this descending

Channel to find support will we continue and hit certain targets on the upside or in fact could we revisit some lower targets that we've been mentioning as well Bitcoin continues to find resistance and support right on this

Line guys what is the next level to the downside and to the upside that if we break we could be initiating the breakout we are days away from a breakout we're actually give you our time from when we think it'll occur and

Again what the most likely scenario is let's dive into Wow what's going on my little jungle unga's welcome back to really exciting episodes so much to get into guys Bitcoin is on the verge of a break now this will be the deciding

Factor if and when this breakout occurs one group of people will be proven right there are people saying that we could be breaking out to eight or nine thousand and there are people saying we're entering this trajectory going down to

Two thousand possibly even a little lower than that so with this breakout this is huge these are the deciding factors here guys we can take a look at this triangle again this is gonna be the most important area

If we take a zoom out to this chart you guys can see if we come down to certain areas bearish territory if we go up absolute bull mode so what is most likely we're gonna measure this triangle which is gonna be very interesting and

Show you some targets here so guys if you're interested in this ledger make sure to leave a comment below hit the dings hit that like hit that subscribe and let's do this so this really is do-or-die Rider fly

Time here guys this is absolutely absolutely bonkers so crucial right now because if come down I think there is some again very good support in this area down here the 5500 and even as low as the 5000 now

If this does break guys if over the next day or two are even lower than that we're gonna talk about specific timeframes if we do get a break here and if the break breaks us below five k then bearish territory is initiated and we're

Gonna be seeing some bad times but guys as you know we've had an ascending triangle before if we take a zoom back to this chart you guys remember this one this is the huge one back in the beginning of 2019 that skyrocket is over

$11,000 well we get something similar this would be a much smaller one in my opinion if we're forming this but this is very interesting and take a look at so the actual breakout area if we measure from the base here to the apex

Which is right here it's about a hundred and ninety seven days and currently we're undred and forty two days into that so if we take 142 divided by the 197 there so we're about 72% to the apex so 72% so this is really interesting to

Take a look at the breakout time frame the ideal breakout point occurs 1/2 to 3/4 of the way through the patterns development or time span the time span of the pattern can be measured basically just how I did it a break before the

Halfway point might be premature and I break too close to the apex may be insignificant so what they're saying there basically is break too early could be a fake out and in a break right near the apex could be insignificant so

Ideally we want this time frame here so I'm gonna say within the next four days ok so specifically a 2 to 4 day window I think if we wait till after the weekend is over that would be ideal hopefully that might happen you guys know about

The CME gaps even if you don't like or care or believe in the CME gaps it would just be better in the back of all of our minds if we didn't have to have that idea that there is a gap say maybe around like this area and we break up to

9,000 or 8,000 and then we'd have to come back or visit that it would just be better for everyone if we didn't have to deal with that so again we're about almost 75% of the way to apex very important so again I think we're gonna

See the breakout here coming out soon the breakout target if we measure from the base here and kind of transpose it over here the breakout target is roughly 9,000 100 or about $9,000 but again guys I don't necessarily know if we're gonna

Get that because I think there's just so much resistance here right above us specifically at the 78 and the 8,000 $8,200 level I think there's a lot of resist they're so on this chart what that looks

Like is here pretty much right in between the 21 in the 50-day moving averages right here it puts us right to about these two lines in between these two lines which again I think is gonna be a very interesting level to see if we

Can break because we weren't able to break it prior we weren't able to find support here about a month and a half ago and as well if we switch over to this chart the $8,000 level actually puts us right at the very tippy top of

This pattern on the 4-hour chart and it's this blue line this blue line goes back six years guys I'm not gonna I'm not gonna zoom out all the way you can see if we keep going back this will go beds on the 4:00 hour I'm not gonna

Switch that daily or weekly to get everything in there but this blue line goes back six years now you can see when we first broke that absolutely plummeted you can zoom in when we broke that you saw we got a bounce there when we broke

It we plummeted this is the most important line on this chart right now in my opinion so if we broke eight thousand that would be amazing but again I think there's gonna be a lot of resistance there I think it might be

Hard to get above this is gonna be like the major area if we get a break to the upside this is an area one will watch out for if we break this then it's absolute moon time but guys I again I think it might be pretty hard to break

That I think that's definitely the biggest obstacle in our path to the upside to the downside in the short-term I definitely think we could find support maybe on the 65 and at the very lowest within this pattern to remain bullish

Like this 62 if we break 62 and if like we go on this chart we can actually switch here if we break 62 and we come down to like that 5,400 the five thousand dollar level that's much bearish much more bearish obviously that

Would be a break out of this triangle to the downside but to the upside usually these patterns break to the upside so we're gonna go with that but if we do break fifty four and five thousand guys then then the ceilings the floor is out

Pretty much we could go much lower just being honest if we break that again we'll see this when this actually breaks out we have to wait and see the return to the apex after the breakout the apex can turn into future support and

Resistance okay so most likely if we did let's say we do breakout let's say we get a breakout here it's not it's not bad to think that we actually might come back here find support and then continue upwards on the upside okay so that's

Really important to note there if we break to the downside there's gonna be a lot of resistance getting above that 65 and that's 63 in between that whole area it's gonna be really hard to get above in my opinion so we're really getting

Down to crunch time really important and again on this on this chart here you see this – saying channel this is very key we need to remain right now we broke above it we found resistance there and we're finding

Support right here as long as we can maintain here which brings it all the way down to about the $6,500 level if we can remain above 65 that can be really bullish over the next few days ideally what I would like to see happen is over

The next 36 maybe 24 hours we stay above 65 but not necessarily above 69 we stay kind of between 65 and 7,000 and then as the week opens up maybe Monday or Tuesday maybe get a massive breakout that would be the best-case scenario

That would put us well within that four-day window there I think that's probably the most bullish thing to look at but we really have to keep an eye on this pattern your guys I definitely think it's consolidating and I think

This is pretty much where we are I think we're gonna see a breakout before it the very latest a week from now so within the next week okay and I think it's gonna be explosive we haven't really gotten a nice breakout in a while these

Have been pretty small moves substantially like culminating here so a nice big break would be awesome and a nice big break would be welcome as well after having such a massive dump we had some nice run ups during this triangle

Here you know going from 5400 to about 7,000 in a matter of about a week just a few days actually so that's really important but yeah a really nice breakout would be very welcome but most likely to the upside I think

This is gonna be a lot of resistance and guys if we switch to this chart here you can see we can actually pull out the V PVR let's actually go to the daily timeframe so you guys can see this better you guys can see right here

There's eight thousand dollar level is such a massive area of resistance right now we're currently sitting above a very big level of support right here so I think that's very important you guys can see that here this is a very key level

We found support here so as long as we continue that I think that's pretty bullish but we need to remain above that and again this level is gonna be such big resistance and again breaking above this is gonna be absolutely crucial not

Sure not so sure just yet that we have it in us not sure if we can do that but definitely something you gotta watch out for and be prepared for all these things are lining up this pattern is looking beautiful still it is still completely

Valid and these lines have just been acting such so perfectly with resistance and support so I'm keeping an eye on this one first and foremost but as well obviously definitely this triangle and we want to see a bounce here as well let

Me actually zoom in here on this chart we want to see it bounce up to there Wow when I forgot to add this part into the video this here which lines up perfectly with the downside target of the 5000 the 5 4 5 point 4 K on the 4-hour

On the daily this is why this is so important as well because the five point four right about here and then the five thousand is right here guys so this is why this is so key basically this little pennant right here has to be support if

We want to remain anywhere near bullish so if this area falls through it's bear time now we can also show you this if we zoom back out this is a very important line that's purple one okay we would be breaking some key

Structure again we did initially break that structure back on where it initially fell but we quickly very quickly found some support here okay it's been a very key area so if we can remain above this then I think that's

The most key thing again this is on the daily chart to remain bullish for the short term going into this summer in the middle of this year guys q3 and q4 as well we need to stay above this area right here at the very lowest so as long

As we remain above that again right now we're testing the top of this and again if we came back in here that wouldn't even necessarily be bad guys you know a retest of the top of this triangle would also be good so definitely definitely

Something to check out so guys thanks so much for watching and if you're interested in some extra ta check out t4 you

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