Bitcoin TEST: Preparing for a Major Crypto BREAK OUT & BULL TRAP! (Watch ASAP)
Summary
TLDRThe video discusses Bitcoin's trading performance, hovering around $3,000 and 4% off a new all-time high, and explores whether it's a bull trap or a legitimate breakout. It delves into the stock market's impact on Bitcoin, emphasizing the importance of patience in the volatile cryptocurrency market. The analysis includes a detailed examination of the S&P 500, NASDAQ, and Dow Jones, and their correlations with Bitcoin's price movements. The video also considers the potential influence of CPI news and interest rate adjustments on market trends. Finally, it provides a technical analysis of Bitcoin's price action, discussing key resistance levels, potential targets, and the possibility of market corrections, advising viewers on strategic approaches to trading in the current market climate.
Takeaways
- 📈 Bitcoin is trading within $3,000 and 4% of a new all-time high, sparking discussions on whether it's a bull trap or a legitimate breakout.
- 🔄 The speaker emphasizes the importance of patience in the market, especially when everyone is looking for constant activity.
- 📊 The S&P 500, NASDAQ, and Dow Jones are experiencing a correction, sitting 6 days below their previous all-time highs with a 2.66% drop.
- 📉 The speaker notes that the current market situation might lead to a pause or slight correction for the stock markets, which could also affect Bitcoin.
- 💹 There's a discussion on the possibility of the stock market experiencing a grinding uptrend with bubble prices skyrocketing and minor corrections along the way.
- 📈 Bitcoin's price movement is closely watched, with the speaker noting that when the S&P 500 reaches new all-time highs, it often triggers a rally for Bitcoin.
- 🔄 The speaker references historical market data, highlighting a pattern of approximately 9-month lows followed by 6-month reaccumulations for Bitcoin.
- 🤔 The speaker considers the potential impact of CPI news and interest rate adjustments on the markets, noting a shift from interest rate cuts to possibly rate increases.
- 📊 The script discusses Bitcoin's price targets, emphasizing the need for the currency to close above certain levels to confirm sustained upward movement.
- 🔄 The speaker advises against getting swept up in market emotions and encourages focusing on chart signals and prudent financial management.
- 📈 The video ends with a call to focus on upcoming patterns and price targets as the market potentially moves towards new highs or consolidates.
Q & A
What is the current trading range for Bitcoin mentioned in the transcript?
-Bitcoin is trading within $3,000 and 4% of a new all-time high.
What does the quote about the market transferring money imply?
-The quote suggests that those who are patient in the market, waiting for the right signals, tend to outperform those who are impatient and constantly looking for opportunities.
How long has it been since the S&P 500, NASDAQ, and Dow Jones hit a new all-time high?
-It has been 6 days since these markets last hit a new all-time high.
What is the significance of the 26-day period for Bitcoin?
-The 26-day period signifies the longest time since the ETF correction that Bitcoin has not reached a new all-time high.
What is the current status of the S&P 500, NASDAQ, and Dow Jones in terms of their performance from their previous all-time high?
-They are sitting 6 days underneath the previous all-time high and are down 2.66%.
What is the historical pattern observed in the stock market regarding uptrends and corrections?
-The historical pattern observed is a grinding uptrend with everything bubble prices skyrocketing and asset prices increasing, with single-digit corrections along the way up for the S&P 500, NASDAQ, and Dow Jones.
What is the possibility being considered for the stock market based on the analysis?
-The possibility being considered is an extended period of time with a slowing grinding effect, potentially into May or June, as a pause or slight correction for the stock markets.
How does the performance of the stock market historically affect Bitcoin?
-Historically, when the S&P 500 shoots to new all-time highs, it has caused a rally in Bitcoin. However, the current situation is being monitored for potential stalls or trades within a trading range for BTC.
What is the significance of the 50% level for the Dow Jones?
-The 50% level for the Dow Jones is significant as it serves as a point of assessment for whether the market is stronger or weaker. If the market stays above the 50% level, it indicates a stronger market; if it stays below, it indicates a weaker market.
What is the current stance on interest rate cuts according to the transcript?
-The current stance is that it's unlikely there will be interest rate cuts every single month due to the bullish markets. The markets are adjusting their positions around interest rates, and there might even be a shift to interest rate rises.
What is the potential next move for Bitcoin based on the script?
-The potential next move for Bitcoin could be a sustained move higher for a longer period, with price targets to the upside such as breaking the $73,800 level and potentially reaching $78,400 or higher.
What does the USDT dominance indicate in relation to Bitcoin price?
-The USDT dominance has been a reliable indicator of pauses for Bitcoin price and even turns in some examples. Significant peaks for Bitcoin have occurred each time the price has come back to the line of USDT dominance.
Outlines
📈 Bitcoin's Trading Range and Market Analysis
The paragraph discusses the trading range of Bitcoin, fluctuating between $3,000 and 4% of a new all-time high. It introduces the theme of the video, which is to determine whether the current market situation is a bull trap or a legitimate breakout. The speaker emphasizes the importance of patience in the market, especially when many institutions are involved, and shares a quote highlighting the advantage of patience in transferring money from the impatient to the patient. The video aims to provide insights into the stock markets and Bitcoin at this stage of the cycle.
📉 Stock Market Corrections and Bitcoin's Position
This paragraph delves into the stock market corrections, specifically focusing on the S&P 500, NASDAQ, and Dow Jones. It highlights the duration and percentage of the drop from their all-time highs and compares it to previous market behaviors. The speaker discusses the possibility of a grinding uptrend and the impact of stock market corrections on Bitcoin. Historical data and patterns are used to analyze the potential for a pause or correction in the market, which could affect Bitcoin's price. The paragraph also touches on the relationship between the S&P 500 all-time highs and Bitcoin's price rally.
🔄 Market Cycles and Bitcoin's Performance
The speaker examines the market cycles and Bitcoin's performance within them. It discusses the accumulation periods for Bitcoin and the significant price increases that followed. The paragraph also explores the concept of market pauses and corrections, using historical data to predict potential market behavior. The speaker provides a detailed analysis of Bitcoin's trading range and the importance of certain price levels. The discussion includes potential resistance levels and targets for Bitcoin, as well as the implications of these levels for short-term and long-term market trends.
🌐 Global Events and Market Implications
This paragraph considers the impact of global events, such as the Israel and Palestine conflict, on the stock markets and Bitcoin. The speaker discusses the potential for continued market grind and the influence of CPI news on market behavior. The paragraph also addresses the topic of interest rates and their historical relationship with market performance. The speaker shares insights on how the markets might react to interest rate changes and the potential for a shift towards interest rate increases rather than cuts.
💹 Bitcoin's Price Movements and Market Analysis
The focus of this paragraph is on Bitcoin's price movements and the analysis of its market trends. The speaker discusses the targets for Bitcoin's price and the significance of closing prices above certain levels. The paragraph explores the potential for a sustained move higher and the importance of breaking through resistance levels. The speaker also considers the possibility of a market correction and provides a detailed examination of Bitcoin's price targets on both daily and weekly charts.
📊 Bitcoin's Dominance and Market Indicators
This paragraph examines the Bitcoin dominance indicator and its historical significance in signaling market pauses and turns. The speaker analyzes the Bitcoin index chart and the USDT dominance pattern, highlighting their reliability in indicating market trends. The paragraph discusses the potential for a market pause or correction, drawing parallels with past market behaviors. The speaker provides a comprehensive overview of the market's potential movements, considering various factors such as seasonal turns and the performance of Bitcoin in relation to its historical patterns.
🚀 Market Outlook and Trading Strategies
The final paragraph offers a market outlook and trading strategies based on the analysis provided in the previous paragraphs. The speaker advises on taking profits and managing expectations regarding market peaks and bottoms. The paragraph emphasizes the importance of individual trading goals and strategies, and the challenges of market timing. The speaker encourages viewers to stay informed and engaged with market patterns and price movements, and to subscribe for future updates.
Mindmap
Keywords
💡Bitcoin
💡Stock Markets
💡All-Time High
💡Bull Market
💡Market Correction
💡Trading Range
💡Interest Rates
💡CPI News
💡USDT Dominance
💡Seasonal Turns
💡Accumulation Zone
Highlights
Bitcoin's trading within $3,000 and 4% of a new all-time high, leading to discussions on whether this is a bull trap or a legitimate breakout.
The importance of patience in the market is emphasized, with institutions often lacking this quality, which can lead to significant returns for patient investors.
The S&P 500, NASDAQ, and Dow Jones have been experiencing a correction, sitting 6 days below their previous all-time highs and down 2.66%.
The possibility of a grinding uptrend with the stock markets and its potential impact on Bitcoin is explored, as previous rallies in the S&P 500 have historically led to increased Bitcoin prices.
Bitcoin's price movement is closely watched, with the last 26 days showing no new all-time highs, one of the longest periods since the ETF correction.
The analysis of the Dow Jones suggests that if it stays above the 50% level, it indicates a stronger market, while staying below suggests a weaker market and potentially longer correction.
The CPI news and its potential impact on market movements is discussed, with markets adjusting positions around interest rates.
The historical pattern of interest rate cuts and their effect on the markets is examined, showing that markets continue to rise even with interest rate hikes.
The impact of gold and silver's new all-time high prices on the overall market sentiment is noted, with asset prices increasing across the board.
Bitcoin's current price movement is analyzed, with the target of $72,500 recently touched but not closed above, indicating uncertainty in the market.
The potential for a sustained move higher for Bitcoin is discussed, with price targets set at $73,800 and then $78,400 as key levels to watch.
The analysis of the weekly chart for Bitcoin suggests that if the price fails at the resistance levels, it could lead to a downside.
The concept of taking profits at different levels rather than trying to catch the exact peaks and bottoms is recommended for a more stable investment strategy.
The USDT dominance indicator's role in signaling potential pauses or turns in Bitcoin price is explored, with historical data showing significant correlations.
The potential for a market pause or correction is discussed, with historical patterns suggesting significant turns around the March, April, and June period.
The analysis concludes that while there may be a potential pause or correction, it is not necessarily the end of the move, and the market could still push higher in the future.
Transcripts
bitcoin's trading within $3,000 and 4%
of a new all-time high so is this a bull
trrap or a legitimate breakout that's
what we're going to uncover in today's
video giving you everything you need to
know about the stock markets and Bitcoin
at this stage of the cycle Smash Up the
like subscribe if you haven't already
now we got a ton of analysis to get
through but I thought this is the best
way to start off this video especially
with a lot of the markets not hitting
new all-time highs for a number of days
weeks weeks maybe even coming up to a
month in the case of Bitcoin and we're
at 26 days now but this quote goes a
very long way especially in
cryptocurrency when everyone is looking
for something to do every single day
there's got to be something going on
from the legend himself the market is a
device for transferring money from the
impatient to the patient now we don't
have so many different edges when you've
got a lot of Institutions getting into
the game what they don't have is the
patient
if you can develop that in your own game
have some sort of patience I think is so
underrated and has the power to return
many many multiples so this is one of my
favorite quotes it's one of my edges
I've found over the last several years
is being patient with the market when
everyone wants it to do something just
wait for the signals to come up the
market will tell us when it wants to do
something all right let's kick it off
let's kick off with the S&P 500 as we've
continued for the the US Stock markets
to follow along with this correction
from a new all-time high price now I put
out the last video looking at Bitcoin
entering one of the biggest stock market
Corrections in over six months and of
course Bitcoin hasn't had a new all-time
high in the last 26 days so one of the
longest periods since the ETF correction
so as an update for the S&P 500 the
NASDAQ and the uh Dow Jones we're now
sitting 6 days underneath the previous
old alltime high and down 2.66% % the
previous longest streak that the S&P had
run was 2.88% to the downside in 14 days
until it reached a new high price and in
that case it was a new all-time high
price now with these stock markets our
view has been that we're going on a
grinding uptrend with the everything
bubble prices uh skyrocketing asset
prices going up and the majority the
masses even hedge funds and other big
players are waiting for bigger
Corrections and they haven't got them
that has been the case for now nearly 6
months with single digit Corrections all
the way up for the S&P 500 for the
NASDAQ and the Dow Jones so what we've
seen also on the NASDAQ is uh 12 days
down from the alltime high 3.5% down now
from that all-time high and the previous
biggest correction and longest time
frame was that correction around the
all-time high when it just broke out in
January of this year or mid December and
then the January period as well so that
was
4.84% 14 bars or 14 trading days to get
to a new all-time high so what I'm
looking at here is the possibility of
this slowing grinding effect for a an
extended period of time as we've looked
at with the March April period
potentially into May or June depending
on what comes next of course but looking
at this period as being maybe a pause or
a slight correction for the stock market
markets if that is the case well that's
obviously going to affect Bitcoin as
well as it's something that we've
covered with the Bitcoin price when the
s&p500 shoots to new all-time highs the
past has shown the S&P 500 has broken
into new all-time highs that's caused a
bit of a rally on bitcoin we've seen
that this time as well obviously the
ETFs are here but just looking at the uh
the chart and the flow of money s&p500
ran up in 2019 basically had a bit of a
sideways grind Bitcoin also ran up in
had a pullback roughly 50% but it was a
300% run up at that stage and then uh
the S&P went on its final leg here Co
happened and then it came back to test a
new all-time high price which was then
what we now know I should say the 20120
2021 bull market for Bitcoin and
cryptocurrencies it's happened before
we've seen it in the past looking at
2015 into 2017 now we've gone through
this on the channel before many many
times which helped us identify the the
lows for the market we saw a rough 9mon
low and then a 6mon reaccumulation for
Bitcoin which is why we're on this Mega
Run now there there was a long time of
accumulation that occurred in 22 and 23
which has led to the the market
conditions that we see them now the
largest correction that it's had since
that October low let's get it on to the
daily chart here we're at
3.7% to the downside and we're into our
sixth day underneath the old all-time
high the previous
record if we can call it that was 12
days underneath the old alltime high
2.1% down from a peak so we definitely
have the the largest Peak now since
October which was the Israel and
Palestine War we're seeing more flare
ups in the Middle East and that was
again six months ago so the main thing
I'm looking at here when it comes to the
stock markets is if this is going to be
a continued grind a pause a correction
not a collapse then we might see prices
also stall or basically trade within a
trading range for BTC as I as we'll have
a look at in a moment I understand that
sounds crazy for some even if the price
goes a little higher we'll we'll we'll
cover that for Bitcoin because we've
seen that sort of thing happen before so
in the short term for the Dow Jones
above the 50% is stronger below is
weaker that's the thing we're looking
out for here to to assess whether we're
going to see higher prices sooner that's
why it says strong and shorter or weak
and longer so if it stays underneath the
levels then you're going to get a drawn
out period which means the market is
slightly weaker you've got a 50% bounce
already from this particular correction
so there's the low there's the high and
the market has dropped dead on to that
50% level for two days now so if it
starts to break down from that level
then we would have to reassess and pull
this trigger uh pull the 50% level
further back to see what happens next
with the Dow Jones overall we're still
in uh a major bull market everything
bubble macro bull market we're not
getting any sort of major collapses here
but another reason for this particular
correction could in fact be the CPI news
coming out this week you know the
markets waiting to see what happens
there with inflation but they're also
adjusting their positions around the
interest rates now you've heard me talk
about this many many times before this
is uh the the I've posted this in
January where there was basically a cut
every single month and the suggestion I
made for this particular post here on
Twitter was that it's probably unlikely
that we would see Cuts every single
month because of how bullish the markets
are you're not going to see cuts when
the markets are racing away to new
all-time highs like it just it it
doesn't happen and if it does it's very
short-lived because that Spurs on the
enthusiasm even more and so they have to
raise the the interest rates again and
so this was the uh the January post you
can see there were Cuts almost every
single meeting and now we're down to two
that was the big news yesterday after
we've gotten uh where there was three
interest rate cuts and then finally if I
can find here's the post now there is
only two interest rate Cuts you can see
here 5 and a half down to 5 and a qu
down to five for this year but we're
also starting to see more shifts to the
right so there might not even be cuts
and maybe the Market is trying to price
in or start to get more familiar more
comfortable with no interest rate cuts
and maybe an interest rate rise which
was very different to what everyone
believed at the beginning of this year
and basically that's what I've talked
about here in this post even if that is
to occur I still think the markets are
going to go up from there because the
markets are going up even on the back of
interest rate Rises and if we saw it
again depending where we are on the
cycle I think the the markets are going
to go up from that point as we can see
here from Seth if matters uh this is for
interest rate cuts it matters little if
or when the FED Cuts so essentially this
is just looking at the history of them
going back to the 70s in this case rates
can be hiked rates can be cut the
markets will do what the markets do it
is a fallacy to believe that when
interest rates are cut that means
something is broken and the markets have
to go down from that point it's not
entirely true when you look at at the
data I don't know where these other
people are getting their data from to
say that when the market when the FED
Cuts rates the markets collapse we've
proved it time and time again but of
course everyone's going to choose what
what they want to choose so we've looked
at this cuts no Cuts pauses whatever the
cycle is up the charts are showing very
strong ground to the upside even with
gold also hitting new all-time high
prices we've also seen new fresh prices
uh for silver as well hitting $28 an
ounce so there's a lot going on in the
markets with asset prices increasing as
stock markets are also increasing as
interest rates are pausing and might I
don't know for sure I'm not the FED but
they might also increase we've also seen
asset or in the case of metals we've
seen them rise in the second half of the
real estate cycle last cycle 2003 4 5 6
7 gold and silver were going up real
estate was going up stock markets were
going up and if crypto and Bitcoin
around I would imagine they were also
they would also be going up at that time
that leads us to bitcoin and crypto and
essentially what you came here for as we
got a background now about the markets
what's going on there Bitcoin surging is
this the end are we going to see further
breakouts is it a bull trap essentially
the news doesn't really say much today I
think they're all trying to come up with
another reason as to why Bitcoin is
going up the haring's less than 12 12
days away now maybe that's a particular
reason why we're still seeing prices uh
with some activity into the prices but
essentially Bitcoin is slightly dropping
off at the moment the Target that we're
looking at at least um in the last
several days probably a few weeks now
was
72,500 which is this white line here so
we've touched that Target but it did not
close above there uh did it get on a 4H
hour no just closed slightly under that
level and on The Daily we closed down at
71 600 with the market still correcting
at the moment that was a key level that
was the gotcha bar we've talked about
that multiple times so I won't go into
it again we got to that level but the
closes haven't been there yet so now
we're in this next little no man's Zone
No Man's Land Between the previous tops
and that key level of mine here which
was 72 and
$5,000 so it's doing everything possible
to climb higher but not give any
confirmed signals that it is going to
keep breaking higher for for an extended
period of time it depends on your own
time frame I'm just going to look at the
shorter term stuff here the 4-Hour chart
uh it's got some closes above those
levels so that's a good sign we've got
some uptrend happening here at least in
the short term as for the daily chart we
got a close $100 underneath that
previous Peak there on the 27th of March
so it's doing everything in its power to
climb higher but it's not giving us
those conf firm signals of strength to
get to those Next prices for a sustained
period of time now I've got price
targets to the upside should we break
this High to let us know whether this is
going to be a sustained move higher for
a longer period we're talking weeks and
months not just days like what we've
seen in the past with previous tops
especially at these levels especially uh
with extended periods of green months so
very nice strong moves to the upside
essentially closes above the all-time
high is going to be the first business
here for for BTC so closes above 78,000
sorry
73,800 and then it's got to get through
the 50% level here $78,400 that's the
level I'm looking at for now based on
the chart itself so the low to the high
projected off the low 50% there is at
$78,400 if Bitcoin fails at those prices
78 and then 81 here that could lead to
down side again it needs to get through
those levels to show the strength
consolidate to then push higher
otherwise this is all going to be the
same story that we saw in the previous
cycle back in April where we had April
2021 where we had a top in March pull
back it went on another charge to higher
prices it got above the March top in
April by 5%
$3,000 and then had a very significant
pullback so it's easy to get super
excited for higher prices uh I don't
want to rain on anyone's parade here and
not give them the Positive Vibes they'
all come to to expect from
cryptocurrency but if you're worried
about your money and you like your money
well then you'd pay attention to what's
going on in the chart and not get too
swept up in the emotions of higher
prices now that's the short-term outlook
for the upside should we see some
consolidation to again to then press to
higher prices to push to higher prices a
break above these tops 71 700 then the
alltime high
73,800 then to get through those
resistance levels at 782 and 815 th000
which is a longer term view here on the
weekly chart so before I get to the
weekly just want to look to the downside
here you get breakdowns of the Swing
bottoms at 64,500 well then we're
probably going to come back and test
these lows here that's at
6,700 and the other bottom there at
62,200 so what that means is further
close underneath these tops well then it
spells a little bit more downside
testing these levels and a break we then
test these levels that's the case well
then we head back into the 50s we don't
have any confirmed signs yet the trend
is undecided now on The Daily because we
have higher highs formed and lower lows
formed so it's an uncertain Trend but
the momentum is currently to the upside
with that little risky close there $100
underneath the top of the the 27th of
March so that leads us over to the
weekly chart what's going on here and
with that Weekly Trend up we can see
that there was a similar pattern that
happened in the last cycle there was
higher highs higher lows but a big thing
to know and this happens over a longer
period of time I know I have to keep
explaining this because people are
looking at 12 hours and hourly charts
but anyway look at the period here at
the top 12 bars that is weeks that's
essentially 3 months 84 days 3 months at
these highs the price pushed higher in
April and then had a correction so I'm
not ruling anything out I'm just focused
on the charts and what I'm looking at
are the movements to the upside you can
see these moves are getting very small
from top to top as the market begins to
roll over so you got $3,400 top to top
basically a 6% move there and then this
top to this top was a 5% move so you had
the the Gap shortening there with those
moves to the upside are we seeing
something similar this time we don't
have any signs yet of a move higher so
if you start to see the gaps get smaller
between tops to top that could mean that
we're seeing some sort of pause which
might be followed with a correction as
I've talked about many times uh these
moves can take some time so if we look
forward to roughly 12 weeks 13 weeks you
know 3 months that takes us out to June
so we have the harving coming up in less
than two weeks maybe there's a bit of
time to pause here and reconsolidate
before we start moving higher and this
also falls in line with the other data
that we've looked at when it comes to
Green months for BTC we've already seen
seven green months so that's a higher
close than an open and we've seen I've
got my monthly chart here uh six months
in the same swing so this is only this
only happens 14% of the time where you
see six months within the same swing of
higher highs and higher lows if we're to
get to seven months so this one here to
push higher uh in April to push higher
here doesn't matter if it closes red but
we would get a seventh month that only
happens 7% of the time and if it was to
go higher again in May it's never
happened before within the same swing
not saying it can't happen but it's
never happened before which means then
that percentage is basically dropped to
zero give it 1% chance of it happening
in May where you'd get a higher high and
a higher low from April so in terms of
the green months here uh seven months
straight is what we've SE seen in 20 so
yeah 2012 and we've seen that again in
23 and 24 so April's yet to close let's
see if we do get to that uh that eight
months of green but nonetheless these
periods well these sort of patterns take
time to develop if they are in fact
developing into some sort of pause or
correction we've already seen now in
terms of a pause about 35 days so within
this same trading range between 60 and
$73,000 we've already seen many many
days there you could almost count it up
as being about 35 to 40 days so really
the price has paused here the same thing
happened back at the ETF you can see
where the price peaked uh the first week
of December and then we had to move up
we had the correction and then it lasted
about 56 days within that same trading
range between 40 and $50,000 before it
got a move on in first week of Feb and
started to push towards $50,000 now on
top of the monthly swings coming to A
point where the probability is starting
to get stacked well against us and also
coming to the point where the monthly
green versus red the monthly profit and
loss is also starting to stack against
us we've also seen seasonal turns around
this time in the market so uh over the
course of bitcoin's entire history
monthly chart here April June is period
we've got March uh sorry yeah March
April and June have shown turns before
significant turns in the market and so
throughout each of the Cycles roughly at
least twice you would see a a March
April or June turn before the market
pauses and then comes back for more
gains so the Cycle's not over it just
typically in the past has shown
significant pauses or or turns at this
stage of the move or especially at this
stage of the Year roughly that March
April June period of the year as we're
on the monthly chart this also gives us
a good chance to have a look at that
next price Target and if we're looking
at the 50% level right in here that we
just checked out on the weekly chart
it's in there at $81,300 so that price
comes from the entire cycle of 2019 into
2021 projected off our current cycle low
of uh 2022 and just run straight up here
that's actually the 100% there at 81,000
the 50% was just this current weekly
move so there's a little bit of price
cluster coming in here on larger term
time frames that we need to be aware of
should the price break through these
levels do we get a price um breakout
above that and consolidation above those
levels that's going to be even stronger
for Bitcoin should it get there
consolidate above those levels and then
take off again it's going to be a really
really strong move or do we see some
sort of rejection and it just comes back
to sit within that sort of $50 to
$80,000 range over the coming months
still not the worst case scario you
would not want to see the price go under
$48,000 but for now anything in that
sort of mid-50s to high 7s early 80s is
not a bad sign especially after such a
big move after a 9mon first accumulation
Zone and then a 7-month reaccumulation
zone now the usdt dominance has been a
pretty reliable indicator of at least
pauses for bitcoin price and even turns
in some examples now can check up the
Bitcoin index chart here so we've got
the candles uh in green and red at the
back that is the Bitcoin price gets a
little bit messy but we'll just go
through one one at a time here and then
on the bars you've got the usdt
dominance on a diagonal uptrend here
each of the white arrows shows
significant Peaks for uh Bitcoin so you
can see going back December 2017 that
was the all-time high for Bitcoin
$20,000 that was the first starting
point here now each time it's come back
to the line it's been significant turns
that is your June 2019 turn that was a
300% rise before a 50% collapse then uh
followed by enough another roughly 60%
collapse from the February top which is
also another point on the diagonal
uptrend here now if we take it to the
April top which is something that I've
been referencing quite a lot for this
particular uh period for Bitcoin let's
turn this off again just so you can get
a a better idea you had January get
close to the line you had February touch
the line you had March touch the line
and you had April touch the line and
then also May touch the line so you had
about four to five months of time frames
here hitting that line if I throw the
Bitcoin price back on you can see that
January was well down here and then
February put in a big top big pullback
March also had a pretty big run and then
April started to roll over at that point
so you had uh less movements from one
high to the next and that's what we've
been looking at or keeping an eye on in
case we start to see that for Bitcoin at
this top which can last one two three
four months around this period not to
say the Bitcoin is over and the tops in
we're just looking at what the
probabilities have shown in the past
especially after such significant runs
so that period lasted for quite some
time that was actually the top there
even though the bottom of the move for
the usdt dominance came 2 months earlier
but nonetheless that was all through
that particular uh period there and
price was roughly around that same level
a big trading range there of uh what's
it for BTC 45ish ,000 to the Peaks there
at
$65,000 so a pretty sizable price range
there uh sizable trading range which
maybe we see something similar to to
that occurring now for BTC now moving
forward you had another hit there at the
all-time high on the dominance you had
another hit in June and November you can
see it just getting a hit a little
bounce hit November December and came
back above and now we find ourselves in
March at the Bitcoin alltime high so I'm
just looking at something like this
potentially occurring because it's the
most similar to to what's happened
already with several straight months up
big moves towards the end and now we
find ourselves in April
layer on top of everything else I've
looked at when it comes to seasonal
turns when it comes to extensions of
moves when it comes to shortterm
outlooks to the upside and price um
targets for the market to get above in
this case Bitcoin to get above and you
start to develop a bit of a picture as
to how it could be a reasonable time to
anticipate maybe a pause or a correction
but not the end of a move and within
that price can go higher we can go to 77
78 80
81 as we looked at here with those price
ranges so it really all depends on what
type of Trader you are what goals are
you going for over this next few months
is this your period to continue
consolidating your portfolio uh are you
looking to get out because you think
it's over that is all going to be very
very individual which is probably why we
get such high emotions around whether
this Market's going to Fresh highs or
not people trying to catch the bottoms
and catch the tops that's another reason
why we focus a lot on the lows in the
market it's the hardest time for new
people to get in and even uh veterans
that have been around some time because
of the fear at the lows so moving
forward try to take a chunk of profits
out of the middle don't worry too much
about the exact Peaks or the exact
bottoms just somewhere around the lows
somewhere around whatever you think the
top might be or even a little bit of
profits along the way to the upside is
going to make you a very happy person
all right guys we got a lot to get
through over the coming weeks especially
if this price does push higher to focus
on what happens with these patterns
moving forward as we head towards those
price targets to the upside and the
downside that might invalidate any of
the the movements in the patterns so
make sure you hit subscribe I'll see you
back here at the next video Until then
take care and peace out
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