*BITCOIN* is about to go **CRAZY!** (DO NOT BE FOOLED!!!)

Summary

The video discusses Bitcoin's price movement, highlighting a bearish divergence on the daily chart despite an overall bullish trend. The presenter suggests that a significant support level around $59,000 could be a potential entry point for a long trade, given historical price patterns and a convergence of technical indicators. They also mention the importance of watching for a potential gap fill in the CME Futures chart and maintain a bullish outlook for Bitcoin into 2025, encouraging viewers to stay informed and consider trading opportunities.

Takeaways

• 📈 Bitcoin has reached the $70,000 mark but experienced a rejection, which is a bearish signal for the price.
• 💔 The speaker humorously relates personal dating rejections to the bearish pattern observed in Bitcoin's price movement.
• 📊 Market Cipher B shows a bearish divergence with lower highs on the oscillator while the price makes a higher high, indicating potential downward pressure.
• 🔍 On the two-week time frame, Bitcoin has been in a sideways range since the end of February, with bullish candles indicating buying interest at lower prices.
• 📅 The weekly time frame reveals a confirmed Green Dot below the zero line on Market Cipher B, which historically marked significant turning points leading to upward moves.
• 📉 Despite the bearish divergence on the daily time frame, the speaker maintains a bullish outlook based on higher time frame signals.
• 📍 The green box on the chart represents the highest volume node and must hold for Bitcoin to consolidate and make another higher high.
• 💼 The speaker identifies $59,000 as a critical support level based on historical price action and Fibonacci retracement.
• 🌐 The summertime is traditionally a period of consolidation for Bitcoin, with a tendency for the market to become bearish before significant moves.
• 🔗 The CME Futures chart for Bitcoin shows a gap in the high 50s, which often gets filled, suggesting potential price action in that area.
• 📚 The speaker is bullish on Bitcoin for the market cycle, anticipating a breakout based on the bullish signals from higher time frames and the upcoming cycle peak in 2025.

Q & A

What is the current situation with Bitcoin's price according to the script?

Bitcoin has reached the $70,000 level but has experienced some rejection, indicating a potential bearish trend.

What is the significance of the 'bearish Divergence' mentioned in the script?

A bearish Divergence occurs when the price of an asset makes a higher high while the oscillator makes a lower high, suggesting a potential reversal to a downtrend.

What does the term 'hammer candle' signify in the context of the script?

A hammer candle is a bullish candlestick pattern that indicates the market tried to push prices lower but was unable to, followed by strong buyback, suggesting a potential reversal from a downtrend.

What is the 'Green Dot' signal on Market Cipher B and its historical significance?

The 'Green Dot' signal on Market Cipher B has occurred only twice before in the current bull cycle, marking significant turning points at the end of consolidations leading to big moves to the upside.

What is the importance of the 'highest volume node of the range' in the script's analysis?

The highest volume node of the range is a critical support level that, if held, could indicate further consolidation before another potential higher high in Bitcoin's price.

What is the significance of the $59,000 level in the script's analysis?

The $59,000 level is significant as it is the Fibonacci golden pocket and has historically acted as both support and resistance, making it a key level to watch for potential price action.

What does the script suggest about the typical behavior of Bitcoin's price during the summertime?

The script suggests that during the summer, Bitcoin's price typically consolidates and people tend to get bearish, which can precede a significant bullish move.

What is the 'CME Gap' mentioned in the script and its potential impact on Bitcoin's price?

The 'CME Gap' refers to a price gap left in the chart due to the CME Futures market closing and opening at different prices. It is often seen as a level that may eventually be filled, potentially leading to price movement towards that gap area.

What trading platforms are mentioned in the script and what are their distinguishing features?

The script mentions BLOFFIN, which does not require KYC or a VPN, and MEXC, which offers 0% limit order fees and 0.1% market order fees but requires a VPN.

What is the 'Casper crew VIP Discord' and how can one join it?

The 'Casper crew VIP Discord' is a community where multiple traders share their setups, plans, and live streams. One can join it by visiting jasonctrading.com and clicking the link provided.

What is the long-term outlook for Bitcoin as presented in the script?

The script suggests a bullish bias for Bitcoin, anticipating a breakout and a potential peak in the market cycle between spring and fall of 2025.