by birtanpublished on October 1, 2020

Wow is that a worm or were you just
excited to see these charts guys welcome
back to Tyler's charting Academy where
we put the art in chart the dirt and
dirty and the squirt in squirty ladies
and worms let's get the chart Wow is
bitcoins leading indicator forming some
sort of very interesting inverse Head
and Shoulders pattern on this smaller
time frame and if it were what would
that mean for the breakout target for
not only these altcoins such as light
coin but for Bitcoin as well Bitcoin for
the second time this week coming down to
touch this key area will we get a mega
bounce like we did back on February 19th
what does this mean this pullback
continues what are the targets and when
can we expect this pullback to initiate
a mega moon bounce as you can see on
this chart from yesterday this is
clearly obeying this line is well
getting a bounce continuing on this
downtrend what this pattern looks to be
forming is a descending channel similar
to the channel that we just recently
broke out of after forming that inverse
head-and-shoulders for about 7 months ok
similar smaller much smaller time frame
here but again these patterns to tend to
break up and can we expect a move back
to the top of this channel over the next
few days of revisiting 98 9700 and even
potentially 10k again guys we have to
take a look at this as well and another
key thing that just happened today after
all this momentum downwards with Bitcoin
from 96 to 92 hundred US dollars over
the last 24 hours
we have a small bounce off of the 50-day
moving average this is absolutely key
for Bitcoin and the market can
everything maintain what is next for
these charts what is going on and
specifically only smaller timeframes
what is there to see so guys a buckle up
grab somebody you love and tell them
this is all a meaningless simulation
guys let's get into the video
Wow what is going on my rooty-toot-toot
and Friends guys welcome back to this
very exciting episode of Bitcoin Wow
urgent crazy stuff going on in the
market okay we're coming down to these
key levels okay as we talked about in
yesterday's video we have some key
things to look at in this descending
channel this this has been hit and hit
and hit over the past few days okay just
bouncing up and down throughout this
channel guys absolutely crucial we have
to take a look at that and as well my
boy Chris over on Twitter yo Tyler
that's LTC being pretty consistent
leading indicator argue what are your
thoughts on this potential inverse Head
& Shoulders guys we have to take a look
this okay I did take a look at it and it
does look very interesting
litecoin has been very nice at
predicting bitcoins moves about a 24
hour time period after litecoin does
that so we have to get that into that as
well and gets from you a channel make
sure to enter for these ledger giveaways
all you do is leave a comment below and
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on in to this really – Tooting good time
guys let's do this so guys I want to
start off here on this litecoin pattern
okay so this actually began potentially
forming about 10 days ago on the 4-hour
chart you can see it very clearly ok we
have a move here down to this about $69
level absolutely huge for so many
reasons even outside of crypto and then
we bounced all the way up to this
potential neckline here about the $80
mark okay bounce immediately back down
there okay we form potentially a head
here about 66 US dollars bounce right
back up to that 80 dollar mark again get
rejected and then as of right now we're
basically right back down to that 70
dollar mark and again right here we also
have the 200 moving average here on the
4-hour and that seems to be providing
some support so if we could get a move
not only on this chart but as well on
this one you know if we're supposed to
see a bounce here like this pattern has
been replicating maybe we'll get a
bounce up to here up to like the 97 and
again that look perfectly here so we
look for like going first to make a move
to see if that makes a retest back to 80
and if that does test the neckline okay
we break through it we might come back
and retest it and boom guys we could see
an absolute breakout here potentially up
to that hundred dollar mark maximum out
of this pattern so that would be huge
and we would see a repeat here as well
now this is a descending Channel
potentially right here right so if we
did see something like that similar
situation here for Bitcoin if we retest
the top breakout of it come back down to
the 96 or so and find support boom guys
then we could finally once-and-for-all
break this key area here okay
break the 10.5 and really just moon shot
past there guys that would be huge so
that has an extremely awesome
opportunity that we got to be watching
for okay a lot of people are bearish
right now which again we like to be a
little contrary contrarian and we could
see a move here because again a lot of
people are expecting there are a lot of
people a lot of patterns that people are
expecting with this a lot of
possibilities with this chart and as
well plays in perfectly with this cup
and handle pattern guys we're seeing
some very critical support being tested
right now not only is this the very top
of this key area right here but we also
one key moving average coming right
there to meet it okay right now we have
the 50 moving average literally right
here meeting this here guys so this is
very key if we can get a bounce here and
even if we can get a test back to that
ten point four again like we just showed
on the other pattern this would be
exactly what we're looking for
bounce out of that and then guys this is
a five month pattern here so prepare for
this get everything nice and tight for
this what I'm about to say this is going
to be potentially a splash zone
announcement okay we get a break out
here and a break out out of this would
be absolutely massive we can actually do
a little bit of a measured move from the
top of this okay we can actually let me
zoom out you can guys can get a better
picture of this down to the bottom of
this we transpose that over to here at
least this could bring us above to our
all-time highs of 2019 to that 14 and
guys that could be off to the races this
could be one of the final moves okay now
this is speculation this is just what
the shock that the chart is showing us
and it's the ultimate mega bullish mode
here but this could be realistic
this is extremely realistic and this
could be a huge possibility 14.5
absolutely catapult us not only back
above this previous high but then this
one as well and that would just
absolutely put us back into moon boy
territory everybody be running around
with their shirts off
everyone would be chugging juice like
you've never seen people truck views
before be absolutely insane so that's
absolutely awesome to watch on the chart
definitely make sure to check that out
okay so we have that potential universe
head and shoulders which plays perfectly
into this potential break here if we do
get a bounce here okay remember this
could take a few days we could stall out
in the middle like we see multiple times
within this pattern okay this can take a
few days here we even had another test
at the top here down down here up to the
top we had a few tests so again I
actually could see this happening where
we come back down again
test this over the next day or two and
then have a like a shot back up to the
top there so this could take a few days
to play out we really need to see the
momentum pick back up okay it's very you
can see here it looks like this has a
little bit more time that it wants to
play out so again I don't think expected
this over the next day we need a few
more days for this to play out but again
very bullish pattern to watch here and
guys let's take a look at this so
yesterday over the past 24 hours
actually broken out of this key support
zone and we've come down actually
touched our tippy-toes right into this
area right here which you had this line
on here for weeks you can go back and
watch the videos this was key the reason
you had this on is because of this
pattern here which was back in like the
very beginning of the month of February
the very end of January as well
that is absolutely crucial we have to
watch that but right now we bounced
there and we're in these crucial support
zones as well so that's for right now I
mean this is the one hour chart so again
I don't put a lot of stock into this
I much prefer looking at this for our or
in fact the daily very much more
interesting I think as well looking at
litecoins pattern forming here okay a
nice pattern could be forming here over
the next few days again we have to watch
and see is what I'm we were watching for
first I'm gonna be watching for a light
coin here to make a move and if light
coin does make a move cause you know
that I'm gonna be expecting Bitcoin to
have another test right to the top of
this descending Channel okay so we have
to watch for that but as far as this
pattern there is no clear pattern on the
one hour chart necessarily here other
than you guys see what it's been doing
over the past few weeks okay and this
this again we have to decide what's
gonna happen here I really don't think
we're gonna come down to the 77 again
okay that would be much more bearish but
again that's like basically I guess like
the absolute lowest we could ever even
wake down to consider this pattern still
healthy but I would not like to see that
I personally would not like to see that
82 is the lowest I think we could go
right about here and still remain
healthy other than that you know we have
to keep a watch out now let's look at
this on the daily chart here for long
term on bitstamp
look at this again the 50-day moving
average providing some support right
here a little bit of a bounce zone now
what I want to see over the next few
days if we remain healthy is at least
trade with in this area not go much
below it don't necessarily have to go
above it but I would love to see us
bounce back in to this and find some
support right around the 95 again you
guys absolutely crucial that would put
us back basically right around this area
as well if he bounced to the 95 we'd be
testing like the top of this get above
some of these moving averages on the
4-hour chart if we switch to here the 95
as well that would just be looking good
and it would put us closer to this 21
day moving average that we want to get
back above okay because we for the first
time since this uptrend we've actually
broken out of it substantially and have
been staying out of it for a few days
now okay so we have to watch that and as
well not only are we meeting right at
this 50-day moving average right here
but we also have this prior line of
support right around this 92 now the 92
we've been talking about for weeks
currently it's still holding a support
now this could you know for the mega
bullish scenarios number one this could
be the most bullish if we hold here
again we're expecting we could easily
come back down to this $8,800 level down
to this two
moving average for a few different
reasons but if we can maintain here that
could be extremely bullish for right now
but again we tend to think this pattern
could take some more time to play out
but 92 if we can actually even pull back
for another few days if we did something
like this okay this would be our
picture-perfect scenario maybe something
like this okay like this and then back
up to test this so we could even just
trade at the bottom here for a little
bit longer but we do would love to see a
bounce out of this accurate break out of
this potential bull flag / dissenting
that'd be absolutely crucial and healthy
for the market and looking at this chart
here you can clearly see this level is
key for months and months right here you
guys where we're testing right now the
bottom of this is saying triangle the
bottom or like pretty much the main zone
of here where it found a lot of
resistance back in the summer and as
well we found a lot of support even
recently back on January 17th and that
week surrounding January 17th we have
the moving average here this is all key
right now so if you want to remain
healthy we do have to see some movement
soon we've had a lot of consolidation
over the past few days a lot of downside
and guys what do we say when there's
pumps there's dumps and when there's
dumps there's pumps so with everything
that's been going on we could expect to
see a move up soon and I could play very
nicely into this pattern as well as the
break here and guys we want to actually
as we pointed out look to litecoin to
see what it does here as well so guys
thanks so much for watching I'll see you
the next one

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