THIS NEEDS TO BE RECTIFIED OR BITCOIN MAY CRASH SOON!! – THIS ALT JUST DID WHAT?!?

by birtanpublished on September 10, 2020

Hey guys what's going on jeb here and in today's video we are going to be doing some shorter term technical analysis on bitcoin because as you guys may know and hopefully you do know by now because if you didn't you definitely missed out

Bitcoin has had a major rally all the way up to about 11 500 as of recent and in this video we need to discuss the td sequential guys we've talked about the td sequential a couple of times here in the last couple

Of weeks on bitcoin because as you will probably already know bitcoin has had a nine flash on the td sequential the last three days have seen a lot of sideways movement on bitcoin

And right now bitcoin is testing some important support levels bitcoin needs to have a correction the likes of which we will outline in today's video or we are going to be in big danger of a

Much larger correction because ignoring the td sequential normally is not a very good idea guys you're going to want to be updated by what is going on in this video so i encourage you to watch all the way until

The end because later on in today's video we're also going to be discussing none other than your favorite altcoin lately ethereum guys we are going to be talking about the big the bad the ugly it's

Actually kind of pretty aetherium because eth guys is going absolutely nuts and i want to update you guys on the technical landscape over there because my ethereum investments

Oh they're paying off i got hit down like 120 i'm happy i'm a happy man right now guys gonna be a great video before we dive on into it i do want to mention that today's video is sponsored by our buy bit referral link down below if you

Guys would like to get started trading with leverage on bitcoin or ethereum and you think you're ready you think that you've had enough experience in the market to not get burned in 100x leverage

Trade and get liquidated then consider joining us with the link down below fair warning to everyone leverage is dangerous make sure that you're not being stupid with your money but more on that at the

End of the video guys for now though without much further ado let's go ahead and dive right on into it i'm very excited about today's video everybody so if you are also excited about today's video consider hitting

That like and subscribe button down below thank you so much because yesterday we hit 14 674 views and 1.6k likes thank you so much for that and also thank you for the almost 600 comments this is nuts

Really appreciate the support so let's go ahead and you know jump on to the chart let's do it lovely cool it may pain you to know that bitcoin is now trading below 11 000 and you know that's not really the end

Of the world but we're all entitled to cry a little bit about it because i was really enjoying seeing an 11 in front of bitcoin's price but we'll get there as you can see the last three days or so on bitcoin we have been

Flagging out and this is a very good thing because bitcoin needs to correct because bitcoin as you will probably already know by now has a nine flash on the td sequential

And this needs to be dealt with unfortunately because of this stupid green candlestick right here we are still overextended and the td sequential has not reset meaning that for the td2 reset we need

Another red day on top of today's red day to be able to reset the td sequential unfortunately i don't have time in today's video to get into exactly how td sequential resets because

It's a complicated mathematical algorithm it's not something that's just very apparent but needless to say the fact of the matter is that bitcoin needs to have a reset and if it doesn't here's what might happen as you guys can

See down here in the hourly chart we've actually just seen a bearish cross between the 20 ema and the 50 sma you might think oh it's the hourly chart it's not that big a deal but if you look back the last time these

Two moving averages crossed was actually almost a week and a half ago back here on the 19th of july this is where we had our golden cross so this is actually pretty significant that bitcoin has had this bearish cross right now

And also down here on the hourly chart at the time of recording this bitcoin is rejecting from here we also set a relative lower low from this low down here meaning that we now have a pretty well defined up trending

Level of support hopefully we'll test it again and confirm that we also have a very well defined down training level of resistance which means that we are now guys in consolidation and pennant and

Flagging which is actually a good thing because if we flag out long enough that will also reset the td sequential and will also help to reset our massively overextended rsi which is currently coming down but is

Still sitting at 75. the simple fact here guys is this bitcoin is in a flagging pattern and just as we saw in our longer term flagging pattern right here sometimes when you have a massive rally

You're going to have a massive bit of sideways trading proportional to the size of the rally as we saw two and a half three months of sideways price action here we very well may say two and a half or three days

Worth of price action trading to the sideways in this consolidation pattern because as you can see this actually comes to a head on the second of august which is three days from now we've just rallied

25 and i think that it would be very healthy for us to go ahead and trade sideways from here for the next several days from there you guys already know my price targets the next major one

Is up around 11 7 to 12 1 based on previous resistance levels but guys i'm cautioning you here even though bitcoin is very bullish right now we've just technically confirmed a bull market which is absolutely awesome

That does not mean that a big downtrend couldn't start in fact just to give you perspective on this it's very possible that bitcoin pulls all the way back down here to ten thousand four hundred and eighty dollars a five percent correction

In the next few days and bounces off of these support levels that would actually be a very good thing for the long term on bitcoin but if you're not careful and you're in a leveraged trade over on buy bit or something you're gonna get

Liquidated more than likely because i bet a lot of you guys are in 25 x trades right now tell me i'm wrong i bet there's at least like 50 of you watching this video right now

That are in a 25x long and you're hoping bitcoin breaks to the upside that right there is called being dumb with your money look guys my job here is to shoot you as straight as possible because the mission

We have here this channel is to teach you guys and inform you guys so that you're able to be the most profitable in cryptocurrency markets and to do that mission justice i need to make sure

You're aware that bitcoin could helpfully pull back five percent and even still unhealthily pull back another 15 on top of that and we might still be in bullish

Territory it's my responsibility as an influencer here on the platform to make sure that you guys are aware that just because bitcoin has already rallied and we're in a sideways trading pennant right now does not necessarily

Mean that we're going to break to the upside we probably are i think we are statistically speaking and historically speaking we will but that doesn't mean that we're going to for sure so number one

Make sure you are using stop losses number two since we're in a pennant in my opinion this is not financial advice it's simply my opinion which is what you came here for i don't believe it's a good idea to be

In a trade right now because we have a defined level of support and we have a defined level of resistance which i've shown you earlier in the video because of that why would you be in a sideways trading trade

When you could wait for the breakout and then enter the trade as soon as the breakout comes these are not trend lines that are up for debate these are very very very obvious trend lines that everybody is

Going to have on their chart very similarly because they are coming from wix and there's only two on each of them so there's really no variance if you're in a swing trade right now and you're

Planning on being in this trade for the next few days i want to ask you why why would you enter a trade right now when bitcoin is sideways and even though we were bullish up to a day and a half ago now we're in

A sideways market why would you still be in a trade now look i understand if if you're trading the volatility inside the pennant pattern that's one thing but if you're already

Deciding okay bitcoin's gonna break to the upside i'm gonna enter my long right now get in 200 lower because i'm a baller and i want to make sure that i have the biggest possible profit so i can flex on

My neighbors if that's you i'm really concerned for you because there's no real good reason to be in a trade right now to illustrate what i'm talking about guys we know that our next major

Resistance level is up here i would personally think it's the best idea to enter a trade right here and then have part of your exit price up here around 11 750 and then another third of it you'd

Be exiting a third at the beginning of this zone the other third closer to the top of the zone and then let another third ride up there around 12-2 is where your second third would go

And then your stop-loss would be sitting here around eleven thousand two hundred dollars with an entry price of about eleven thousand four hundred and thirty a lot of you guys are going to be doing something like this where

You're entering right now down here around eleven thousand dollars and then you have your stop-loss below the up training level of support and you might look at this on the surface and say look at this risk to reward ratio

Jeb is this not much much better do i not have much much more room to gain if bitcoin moves to the upside yes you do but because bitcoin hasn't confirmed a trend you're adding a lot more risk

That bitcoin's gonna break to the downside as well based on everything we've talked about earlier with the td sequential and with the rsi being overextended why are you in a trade right now because

I know i'm talking to the people that are in trades right now tell me in the comments section down below jeb i've already entered a long trade i'm already expecting bitcoin to go to 12 13 000

I've already entered the trade i'm just gonna i'm just gonna be awesome you know that's that's just that's how i roll i just i just do it i'm just i'm just a baller that's just me tell me in the comment

Section down below if that's you right now because i really don't want to come to your you know like your bitcoin memorial when you've lost everything and gotten wrecked because

You entered the trade at the wrong time i'm just i'm saying it because i love you i just want you to be careful because there are a lot of people that are going to get into a trade like this and yeah

They might be fine yeah you might be fine doing this trade because bitcoin's probably gonna break to the upside after two or three days of consolidation but eventually you're gonna do what i

Just showed you about entering the trade before the breakout and you're gonna get burned and you're gonna get liquidated and you're gonna get wrecked and then you're gonna get discouraged

And then you're gonna leave and then that is your exit from crypto i've seen it happen so many times and i don't want it to happen to you so that's my two cents on the crypto market right now i do think that bitcoin

Is going to break to the upside but we don't know that yet so why would we be trading as if we knew that do you understand why not take a little bit less profit potential

And massively reduce our risk while also allowing us to have a tighter stop-loss with a level of support to define said stop-loss it really just makes a lot more sense to me to do it that way i'd love to hear your opinions on that

In the comment section down below though moving right along here though let's go ahead and jump on to the ethereum chart something that you're gonna find right off the bat with the ethereum chart is that eth is in the

Exact same situation that bitcoin is it's flagging the interesting thing about ethereum though is that this consolidation pattern is coming to a conclusion much much sooner we can already see the

Volume tapering off if we zoom out we can see just the same way that bitcoin did we had a golden cross down here between our 20 and our 50 on the four hourly and we rallied about 30 or 40 depending

On where you measure ethereum as you guys know has been popping off like a popcorn kernel lately and for a little while there was actually leading the biggest gainers over here on coin market cap and i'm not

Gonna lie to you i didn't get quite as good of an entry on bitcoin when it crashed but i did get a good entry on ethereum and i'm sitting on a decent size investment from down like around 130 dollars

Very happy about that one but guys look just the same way that bitcoin is doing ethereum has broken a long-term downtrending level of resistance with a touch right here a touch right there and then

All these touches on there ethereum was touching this over and over and over again and we did break it with a 40 rally remember here this is the log chart on the linear chart this looks even more spectacular not only that

Ethereum has broken a flat level of resistance here around 280 on the usd comparative and two levels one around 2.5 million sats right here and then another one around 2.8 million sats

Needless to say ethereum on both the bitcoin and the us dollar chart is looking very healthy we're setting higher highs and higher lows we're putting a new bull market and uptrend into effect

And quite frankly with everything that's going on with d5 and all the of the uh the decentralized applications and all the projects going on behind the scenes with ethereum that i'm not going to get into in this video

The fundamentals and the foundation for bitcoin look for excuse me ethereum look phenomenal i'm very excited about this project which is why it's one of my bigger altcoin investments something to point out on

Ethereum is that in the same way that is happening with bitcoin volume has been massively moving to the upside but you'll notice bitcoin has not had such a comparatively massive jump in volume as ethereum btc

And ethereum usd both have and guys another cool thing about ethereum is that it actually never really stopped moving to the upside and flagged out too much the same way that bitcoin did we had our bullish cross

Over here and we almost crossed the downside but we didn't and ethereum now has these two moving averages diverging in a very bullish way ethereum by the way exact same situation

That bitcoin is in is massively over extended sitting at 80 on rsi right now stoke rsi is obviously sitting up here macd's converging in on itself guys the ethereum chart looks very very similar to the bitcoin chart right now and the

Reason i'm not going to spend a ton of time on ethereum is because most of the technicals they apply to bitcoin also apply to ethereum they're mirroring each other right now they're matching each other right now

But something i want you to look out for over the next several weeks on bitcoin is the altcoin dominance specifically speaking the decline in bitcoin's market dominance as you can see bitcoin market

Dominance is sitting at about 62.6 and if we look at the chart here that has been declining for the last year from around 70 and a lot more rapidly from about 65 just a month ago down three percent

All of that money is going into the altcoins ethereum and the other alts the reason that that's significant is because when bitcoin is in a rally people are more confident in bitcoin and because they're

More confident in bitcoin and people in crypto are naturally more risky investors they're going to look for more risky higher return investments like that guy that was putting a trade in before the

Level of resistance was broken earlier on in the video and because there's so many chads in the cryptocurrency market like that a lot of people start putting their money into altcoins because

Hey yeah they're higher risk but we're going into a bull market all coins gonna bring a thousand percent return bitcoin might bring 250. cool beans i'm gonna buy some altcoins i'm gonna buy some ethereum i'm gonna

Buy some ave i'm gonna buy some ethereum or chain link or litecoin or what have you and when you see a bull market starting you typically see the volume of the market capitalization excuse me

Of all coins rallying because of that it's normally a pre is normally a precursor and an early warning sign that at the very least a massive rally or at best a bull market is forming on bitcoin and

The total crypto markets and the fact that we're seeing that is a very good sign so guys keep that in mind i think market dominance on bitcoin is going to continue to go down because quite frankly i think ethereum is going to

Continue to moonshot i could easily see ethereum trading over a thousand dollars in the next 12 months so i'm very happy that i have some from down around you know like 135. anyway guys that's my two satoshi's on

The market i got my beard growing out i'm kind of rocking the steve jobs look right now tell me what you think in the comment section i need to shave i need a haircut also i've just been so busy

But uh yeah i'm gonna get a haircut just just let me know tell me what kind of style you think ought to get because the last time i got a haircut was right after i did the face reveal on this channel

It was the last time i got a haircut was last november that's pretty funny i'm not gonna lie that's pretty funny anyway guys that is going to wrap it up for today's video i'm really pumped about what's

Coming here in august and on into september guys there's a lot of things going on behind the scenes and you're about to see a lot of them coming up pretty soon i know i've been saying that for a while but guys you're

Going gonna start seeing a lot of what is going on behind closed doors here on the channel in the next several weeks so look forward to that guys there's a lot of development coming we're gonna

Have 50k subs before we move into the office which is nuts we're shooting for 75 000 subscribers before the end of the year and that plaque coming up in the spring of next year so make sure you

Hit that like and subscribe button down below guys like i said thank you so much for 15 000 views yesterday and 1.6k likes loving it every day we're having fun here guys if you did enjoy today's video like i said hit that like and

Subscribe button and please tell me what you thought in the comment section down below of what we talked about today i do try and read every single comment some of you write me an entire book or a novel or a narrative or like an ap

English exam and i just can't read all of it but i do try so if you really want me to read everything you say try and keep it a little bit shorter because we're getting to the point where we're having like

500 comments and i just can't keep up but i do try so guys that is going to wrap it for today's video like i said if you were interested in leverage trading because there is a lot of money to be made doing it but it is a lot more risky

So make sure you're being careful and not being one of those guys that's making silly trades if you are interested in leverage trading while also helping to support this channel and the efforts that we are

Putting in to bring you guys higher quality content you can use the buy bit referral link down below it does help out the channel if you would like to do so of course you don't have to but it's down there if

You'd like anyway guys that is going to wrap it up for today's video but before i go though i do just first want to thank each and every single last one of you for watching as

Always and i will see you guys in the next video peace i got a real good feeling

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