WHAT’S HAPPENING?! WHY BITCOIN BROKE OUT BUT LOOK AT THIS – GET READY IF THIS BREAKS!!

by birtanpublished on September 27, 2020

Oh what is going on with Bitcoin we need to take a deep dive into this I apologize if I look a little wet or moist but I just spent six hours doing scientific research on some dirty videos guys let's get into this as you can see

After Bitcoin entered back into this descending channel here after it broke this line right here you can see it's headed up towards this second line and then we have some more targets we want to look at what is going on with Bitcoin

Today why is it pumping when in fact the rest of the markets around the world are not doing very well you can see here Bitcoin on the one-hour chart actually breaking out just about an hour so ago here around the 5554 dollar range when

It did break out of that you can see currently it's around 59 will this pump continue is this going to be a short lasting move we're gonna take a deep dive what is the critical area that we're currently at okay because even

Though we've moved up currently I think there's going to be some significant resistance where we're at currently so we want to take a look and analyze that a little bit I think we have a long way to go but currently you know why is this

Still moving up and is well very bullish okay when we were living through this time of dipping below this 200 week that was very stressful however right now it's actually looking very good as we're getting a bounce right around and

Slightly above that 200 week moving average what does this mean for Bitcoin on the long term why is this happening with less than two months to go to the halving what could this mean for everything including the price of

Bitcoin after they're having so for all my other men of science who paused their work like me let's get into this update oh wow what is going on my little chupacabras welcome back to a special episode of Bitcoin okay all I want for

Bitcoin is for Bitcoin to go up I want everyone to be healthy I want this this this commotion to be done and I want positivity guys remember that okay we're here to bring the good vibes one of my ways of doing that is by doing and

Analyzing these markets and doing a lot of scientific research on other things not related to cryptocurrency and Myra Brothers so guys we got a lot of talk about today in this update Bitcoin is moving up but why exactly okay I'm sure

All of you are aware of this this overarching theme in the economy in all markets and gold and silver and you know everything why is Bitcoin actually looking very good right now maybe it did Bitcoin actually dumped because

Everything else dumped or was maybe there a different reason behind it okay so we're gonna try to answer all those questions and update and we really understand a lot of time at the end of the episode after the TA

Kind of just having a little talk about what is going on what could this mean so guys as well if you knew make sure enter for this ledger I have to do is leave a comment below and if you do make sure to leave a like subscribe and turn on the

Kings and we can jump in to these things so this is clearly the most bullish thing we can take a look at guys you can see here we've been talking about this for the past few days and obviously this candle going down to the 300 week is not

A good thing but we talked about this in the last update the immediate bounce back up basically to the 200 week was a good sign there now again we did close the 200 week below below this we closed this candle below the 200 week however

We did that we're actually seeing still some sort of a rebound you see both of these candles decent this is a good hammer candle right here so far Bitcoin showing a lot of strength here we're not necessarily a lot of other markets are

Other markets continue to fall this is the Dow Jones this is US oil absolutely absolutely just plummeting there so a lot of these markets are not doing this right now so why is Bitcoin doing this okay so that's what we're gonna dump

Dump into some ta here dump or jump whichever you prefer into some ta here and before we do get into the TA guys sometimes ta doesn't work and I'll tell you when Kia doesn't work when a once-in-a-lifetime Black Swan event

Destroys the economy okay obviously you know not every triangle and every wedge is gonna play out when the entire market falls through the floor okay obviously however within a few days of some of these moves already we're still seeing

Some structural patterns and ta still working so I'm a firm believer in ta if you don't like ta then you probably shouldn't watch these videos because they're mainly ta however with ta okay you have to remember you know every once

In a hundred years maybe there's some crazy event that absolutely destroys everything and maybe for a few days at the very least maybe t8 might not be the best thing to look at but as of right now ta is looking pretty good so we're

Gonna dive into that and show you what these charts are showing so we just showed you the 200 weekly moving averages very important now overall health guys we start to show you this this trend line going back about six

Years still we're still below that okay Bitcoin we need to actually be above 8,000 dollars for this to be confirmed now currently bitcoin is about almost six thousand dollars right around five thousand eight hundred five thousand

Nine hundred dollars so I want to take a look at that we want to show you why this moves been playing out and what are some overhead resistances for this move okay so we did have to extend this descending channel

Now because again it seems as though this line that was about a seven-month long pattern that we broke out up for a few months and then came right back into came right back into is important to be looking at right now for one you see

Actually three three times where we had closes basically right at the top of this first heart line channel there's three okay this is the first one this is the second one and this is the third one so a few like basically right at the top

Here and then we had a few almost coming up to touch the middle one and not being able to know again right here we were able to break through the first one and come up to the second one okay so we might be facing some significant

Resistance for right now here so this is the second one right around the 6,000 the third one is right around the six thousand three hundred six thousand two hundred and fifty roughly on this line here and then above that to get out of

This ascending channel again as of about tomorrow we would need to be breaking about the six thousand seven hundred six thousand eight hundred now that is a lot to ask okay and I'll tell you why because overall I have no doubt the

Market the US markets have not opened just yet they actually open pretty much right as soon as my videos gonna be done being recorded only in about fifteen minutes here but I have no doubt that those it's very possible that we'll see

Continued um pitch over the next few days in those markets okay and it could be hard for anything to be pumping while that's happening however bitcoin is showing some strength obviously the futures are even down which are still

Open for the US stock markets but these are still looking good now at the end of the video we kind of want to talk a little bit about why they might be uncorrelated right now okay we've mentioned this a little bit

In the last update but I want to I want to point your attention to this as well guys this is owned right here from here all the way up to here very light resistance so I do think maybe getting above 7000 in the next week if Bitcoin

Continues its run is very likely and it would actually put us back above this channel now again all of this is so heavily dependent on for example this or even this to an extent okay whether it's the you know stocks gold oil silver any

Of that I think a lot of that will play a role there but right now bitcoin is moving up and we take a look at this chart as well you can see here in the hourly there's no like very clear pattern here as to why this broke up

This chart so you can see I think that's more of a macro like daily timeframe that's actually showing this move but again you guys remember we had this move we had a very nice swing like a pump and then a swing here and then very oddly

Came right back into the center of this basically gravitated towards this kind of going up and down above it this this level here and then eventually we actually over the last few hours just saw a move heading upwards here now it's

Debatable just how strong this move is because again this is very early we would honestly need to get a break right where we're finding resistance right now to get more bullish in the short term so I'll say that again so in the short term

If we want to see this move continue up this is this is a very important part if you guys are watching this now or two from now because it might have already played out if we want to see this move really continue and get some legs we

Want to break this area right here which is the top of this level of resistance which has been since March 12th so an entire week where this has been the very top of resistance okay you can see it multiple times here okay right here

Obviously right now as well we're testing that right now and finding resistance this is right here where the this original little symmetrical triangle began forming and it's right where we found support as we were

Plummeting back on March 12th we can zoom out and kind of show you this as we had that massive fall out of that broadening descending wedge you can see this was the first level of support right here and then bounced around here

For hours and hours and then just plummeted same thing try to get back above this same thing here tried to break 6000 was unable to and now we're testing 6000 again so this is basically the third time that we're trying to test

6000 so this is a very key level in terms of terms of that resistance you guys can see that here and without all those lines I'll do it again one two and basically three and again right here is really important as well because this is

Where it first found a little bit of a bounce and held for about 12 hours before then continuing a massive fall you see this other massive red candle came after failing to find support right around the 6,000 dollar level so that's

Incredibly important to watch there this is a very important level if we manage to break above 6000 and I do think at least 6500 could be in the cards here I think we'd have to break right around 62 and then at 67 62 area this would be

Most likely where it end up in the short term right in this area here but again we could even see a move maybe up to 7000 if these markets permit if the abroad or economy doesn't hinder everything too much then

I think at least 7,000 would be a very good short-term target here that's where the first major resistance comes in and the reason why that's major resistance you can see massive amounts of activity right here which is right around the

7271 okay we have this was the bottom for this inverse Head & Shoulders that we broke out of back back in December of 2019 and then we have this this was a decent amount of resistance right here

As well so there's some horizontal resistance there's some crazy support and volume levels here at this level as well and very importantly when we get up to those high seven thousands that's where the golden pocket then is for this

Massive swing area from this high of the bull market of 2017 to this high of the bull market of 2013 if we pull out the fit of those levels this will provide some pretty decent resistance most likely so even if we got back to that

$7000 level which looks which looks roughly about this on the charts if we got a move up to there on the on the upside that's upside move if we got a move up there there most likely be a lot of resistance right around this area

Okay but that's not saying we'll even get up to there but again if this remains bullish this is where you want to look because again I think there's gonna be a lot of friction there if we would ever manage to get back up to

There within the next few days on the downside everything can remains the same 4,000 is a very strong support right now can't really go below 4,000 on the downside there right here you probably want to stay even even probably

Above the 5,000 we might be able to see some support if we trade within this range and again if we get to the end of this we could actually see a breakout – if as long as this would hold there so far this line has about four touches so

That's pretty a pretty good start there again very early on so you want to see how robust that is don't wanna put too much too much emphasis on it but that combined with some historical past support and resistance is very important

There so let me know what you guys think why do you think that bitcoin seems to maybe be decoupling from these markets right now what is your what is your honest opinion do you think this will continue maybe by the time the video

Gets uploaded it hasn't continued guys ta is very important so make sure to be aware and is well guys I've been reaching out to you guys through this site you guys can direct email me from this I've been reaching out talking to a

Lot of you guys thanks so much for purchasing in as well still 50% off we're going to be adding some stuff on swing trading and as well information on leveraged trading I personally don't recommend leveraged trading we're going

To be adding some top lessons on leverage trading I don't have any links for leverage trading I don't personally think people should be using them but I'm going to provide some basic information in these courses well we're

Going to be adding that

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