by birtanpublished on August 17, 2020

Wow Wow huge breaking news Wow as we talked about yesterday's episode of Bitcoin breaks this level here we will be dropping significantly below this line most likely however there are still two huge scenarios to watch out for this

Week one of them brings us on trajectory to head towards 5000 and one of them actually heads us towards trajectory to break $12,000 this week you got to check this out Bitcoin currently found support at the top of the symmetrical triangle

That we seemingly broke out of earlier this week we actually found support dipping all the way down slightly below the 21 day moving average but now currently we're sitting exactly on this level what does it mean for bitcoins

Price and specifically we're getting a nice wick a nice bounce right at this level however if this target does not hold up we'll be heading down to this specific price and you guys if this price breaks we are going to be heading

A much lower in my opinion and as well with only hours away until we get this weekly candle close how are we going to end this thing make sure to be watching these charts tonight because the price gets very volatile the price goes nuts

Just minutes before we get the closes and as well forget ten thousand US dollars Bitcoin could break 12 K and catch everyone off guard if this happens we'll get into this and you guys as well 90 million dollars daily we're gonna

Talk about what it would mean to sustain Bitcoin in a hundred thousand US dollars and specifically this price point here may shock you I don't know about you but I'm feeling 22 let's get it Wow what's going on

Sporto squadron welcome back to another extreme ly insanely epic episode of Bitcoin we got a lot to delve into today because today's the day that we'll be deciding what this week's likely momentum swing is going to be and as

Well we have potentially as of right now a massive gap will a decent gap to the upside here on bitcoins price so that is huge you know we love upside gaps okay when we have the price open below what it was before the weekend started guys

So that's actually in my opinion it's my favorite to look or two in terms of gaps okay I love when we have upside gaps as opposed to downside gaps so huge we have a lot to get into with that Wow and as well guys

We actually doubled the like goal of the last video squirter squadron has been coming in so strong so guys we're gonna be giving away one of these Ledger's in this webisode but make sure to hit that comment like turn on subscribes dings to

Enter because we will be giving more of these bad boys away guys the squirter squadron is stronger and than ever soon we will no longer be the squirt of squadron but we will become the alphabet army guys so much to get into with this

Webisode cannot wait to just delve right into it so without further ado let's get in to these charts so guys in just hours away from now we will be getting this weekly candle closed what does this mean for bitcoins price six weeks in a row

That we've gotten rejected off of this key level right around ninety seven hundred US dollars absolutely key crucial critical level that we've been failing to break now let's actually switch to this chart so you guys can see

We were holding this line for three daily candles let's actually zoom in here so you can see this one two three and so far we've broke below it now this is good in my opinion for one because we're gonna be getting a CME gap to the

Upside the gap this is the fifth when it closed right around ninety six currently we're about ninety four seventy so at if it closed right now basically we'd have like a hundred and thirty dollar gap to the upside which is not very significant

But again we still have like as I'm filming this we still have like nine hours until we get that close so aside from that we actually didn't get a pullback to any of these significant lines here I would want to see one down

To at least 92 which is huge but guys what we've been saying for three weeks now 88 which is right here okay this is where I would love to see a pullback if things get more crazy over the next 24-48 hours I'd love to see a pullback

Right to about here I think that would be a perfect setup for one that would also line up perfectly with this this is the 8800 right about here where the 50-day moving averages which is also the bottom of this symmetrical triangle if

We came back to visit that and that is also creating a third higher low okay this is the first one well first one was all the way down here by like 80 100 then it was like 86 and then if we got like 88 right here that could still be

An overall pretty good pattern now this pattern is pretty much for the most part it seems pretty busted however these lines still play a key role and specifically we regardless of this pattern being busted the 92 and the 88

Have been very very key long-term horizontal support resistance so these levels right here that we have an orange go back a lot further than just this pattern so keep that in your noggin as we're expecting for that if we get a

Break below 88 though I think things to get a little more treacherous I think well if we get a break below 88 and then I definitely think we might be seeing $8,000 pretty quick okay I definitely think if we break 88 that's when we

Could see a pretty big downswing a pretty big move to the downside but again guys looking on this shirt as of right now I mean it's still holding up right now we got a little bounce right at about 95 it went a little below that

But we spent a lot of time right here over the last few our Lee candles bounce right back up and currently we're sitting back on this descending line of that symmetrical triangle so really important to keep an eye on so that is

The bear snare really if we break 88 right here I think we're gonna go to 8,000 and for short-term I think that's the bear scenario we covered the ultimate bearish scenario yesterday of what our ultimate pullback target would

Be so if you want to know what that is then definitely go check out yesterday's webisode but in today we'll talk about a different scenario okay so we can start off here forget 10,000 Bitcoin could break twelve thousand dollars and catch

Everyone off guard so what are they referring to here well getting to that article but specifically on these charts if we do get a true break above this huge consolidation pattern for the pass tune of half years yeah past two and a

Half years I think we're gonna gave massive break if we actually get confirmed one now we haven't gotten that yet we've dipped our head above here here and then recently just a few days ago but we haven't gotten one if we

Actually get a true break 12-thousand most likely will be a very intermediate target and it will smash through the last few previous lower highs here going back for the past like seven months seven eight months now actually so that

Would be really bullish for the market twelve thousand could absolutely explodes let's jump into that article first here the main things I want to cover by this Keith Waring coin Telegraph article I just have a few

Things highlighted not gonna go through the whole thing so each time Bitcoin passes 10,000 and gets pushed under people celebrate and then it gets pushed under it's almost becoming too predictable and this is exactly why the

Eventual breakout could catch everyone off guard II says so are there any signal signals that can help us determine when this might be let's take a look at the largest crypto by market cap BTC so he just has a few different

Things here I'm not gonna cover all these a lot of these I talk about normally anyway the Fibonacci targets here I think this one's interesting now order books I don't think are super reliable they change all the time

However this is interesting here taking a look at the order book for finance large sell orders that were previously between ninety eight hundred and ten thousand five hundred are no longer there this could be an early indication

Large sellers have a new target in mind and far as higher time frames are concerned about eleven thousand eight hundred and thirteen thousand nine hundred are the next logical options based on previous monthly resistance and

Fibonacci levels then it talks about the weekly ascending channel we talk about a lot looks on some smaller timeframes now even on the hourly chart there is some bullish divergence with the price training downwards but the MACD training

Upwards so you see that price going down with the MACD is going up that's bullish divergence there as such the bullish scenario of extending towards the first key resistance of ten point five that huge level that we've gotten rejected

Off time and time again this month in last month ten thousand five hundred US dollars looks likely in the short term finally breaking out of this level would put twelve thousand firmly within reach before experiencing heavy overhead

Resistance around that fourteen thousand dollar level which you guys can see that here as well that would be I mean if we broke this level here then that would be the next substantial thing and I think one of the reasons that he's saying that

Aside from Fibonacci which we can show on here you guys can see those Fibonacci is there this is why fourteen is huge actually it's like right about that area Fibonacci is around 13,000 but it went

All the way up to fourteen so that's why he's saying that but then specifically on this chart if we broke out of this area which we've been failing to which is the ten point five if he broke that our next lower high was around twelve

Thousand so that's why he says this so wait this is the first we have to break then this is the second one and then this one and guys I want to say something after you break this one there's literally nothing else so after

You break fourteen thousand I think that if we break fourteen thousand concretely and we have a lot of momentum going up I think we're gonna smash through 20k I don't think we're gonna need to get to 17 or $18,000 and creep up to like

Nineteen thousand dollars before breaking 20k I think if we break fourteen thousand US dollars we will be passing 20k very shortly after so I mean obviously this is these are the last zones of this entire chart for the last

Two and a half years we break this one we go on to number two and if we break number three then I think we're gonna go on to all-time highs that's just how I see it on this chart and I think a lot of people agree with that there's

Literally like no resistance built into these charts up of those levels so if we break those levels in terms of simple technical analysis we would be if we break 14k we would be sliding past 20,000 in my

Opinion so that's kind of the more bullish scenario the other thing I want to cover here ninety million dollars daily what it would mean to sustain Bitcoin at about a hundred thousand US dollars so Joseph young here for coin

Telegraph the main point I wanna highlight here is this for Bitcoin to hit a hundred thousand US dollars it would need to achieve a market cap of to about two trillion US dollars now keep in mind even at the peak of 2017-2018 s

Bull run the market capped out around eight hundred billion US dollars so like four fifths of a trillion so eighty percent of a trillion dollars is where it capped out and for Bitcoin to maintain a hundred thousand it would

Only need to be about two trillion which seems pretty high but that is only a fourth of what Gold's market cap is and guys I'll tell you one thing I pick I believe firmly i think bitcoin is going to go on to just completely you know go

Way over a hundred percent of gold's market cap i think bitcoin will eclipse Gold's market cap and make it look like nothing so that is around 25 percent of gold's market cap if Bitcoin would have evaluation itself just by coin of other

Coins of two trillion in other words the perception of Bitcoin as an established store value has to increase institutional retail futures and options market activity alter have to reach new levels so it's really important here and

The other two quotes I have from this article here theta seek is a trader who says at a hundred thousand per Bitcoin the market has to absorb a minor supply of ninety million dollars daily assuming that there are ten million people

Worldwide buying via KOIN on a regular basis it would cost nine dollars per person to sustain those price levels I've met people who spend more than nine dollars on coffee and the last thing here he also says data suggests

Otherwise though holders throughout the past three all-time highs have not been selling in significant portions 60% of Bitcoin has not moved for more than two years okay so that's huge longtime supply of Bitcoin will eventually equal

The new mining supply so absolutely very big I think the point that I was just highlighting that it's very very reasonable to see Bitcoin above a hundred thousand all right so let's a pick the winner and get YouTube comments

Wow what do we have five hundred and eighty five comments good and good job might might chug along this is huge let's see who the winner is and Edale says group video thumbs up

Thanks Wow Andy my precious make sure to smash the or just send me an email or contact me somehow reply to your youtube comment the original one and wow we can get that letter sent out to you guys guys absolutely huge great things are on

The horizon but we could see a dip over the next few days and I personally want to see eighty eight hundred so darn bad and as well guys four as well we do have our final sale forty four version three before we come out with T four version

For later on this month if you put in the code June at checkout you'll get $30 off the full price and this is the last sale before we go on to t4 at version 4 absolutely mega huge if you want to learn amazing trading tips if you want

To learn old coins if you want to learn just basic stuff you need to understand about charting specifically how I do charting if you want access to my literal charts that I'm also using and updating every day in the videos then

Those you have access to those as well and once you have it once you have the course you have this access to this for the rest of your life we have dozens hundreds of people actually already enrolled so guys make

Sure to check it out if you're interested again this will be the final sale before we update to version 4 in the code that you put in at checkout is June Ju any guys is what you have to make sure you actually put in the code

And it'll show like – $30 from the total price because some people email me being like oh I didn't get the discount and they didn't put in the code you have to actually put in the physical code of Ju any at checkout right here I'll say add

Coupon okay and that's where you put it putting the code Ju any apply – $30 there you go thanks so much for watching please

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