BITCOIN GOING TO THE MOON! 8000 Bitcoin Incoming?! right hello everybody how you all doing today today Ive got a really interesting article for you however just before we start todays article Id quickly like to ask you to check the top of the description youll see at the top of the description there is a link to my second channel make sure you are subscribed to that because very soon Im gonna be posting a lot of content on there Ive been working on for awfully long time really really proud of the content thats going up on there its kind of like the old traditional stuff I used to do the exposes.the more indepth reviews of things more indepth taking a look at things it is just a really interesting source of content for me something that I found more of a passion project over the past couple of weeks but its definitely something that you should be subscribed to and I think youll be rather interested in it so and myself chillin aside what were gonna talk about today of course bitcoins price why do Bitcoin get to six thousand five hundred dollars why is Bitcoin currently at seven thousand one hundred dollars where is bitcoins price going to go were also gonna look at bitcoins price in inverse fashion so if you havent already make sure youve hit that subscribe button smash that like button and lets crack on so on the screen right now what you can see is bitcoins chart inverted so youll see that 10, 000 is at the bottom and 7, 000 is at the top now this is the technique that I use to displace any bias that I may have now currently does this chart look bullish or bearish to you because to me what it looks like is just a I mean a such an obvious chart to be trying right here this is such a bullish bearish J if you know what I mean bitcoins price from here looks like we will retest around the 7000 level before dumping so let me quickly very crudely draw what weve got here weve got a head and shoulders formation is forming here now the odds on a head and shoulders formation actually playing out around 70 whereas an inverse head and shoulders position is around 30 now what is particularly interesting about the eyes this is actually an inverse head and shoulders thing however weve had about three inverse head and shoulders visions play out in a row recently we show obviously someones calibrated a bot to be playing this and that bot is completely driving the market so what Im expecting here is Bitcoin is actually going to go up in price believe it or not assessing that from this in particular now you can see the RSI is bearish the MACD is bearish that is good for bitcoins price remember because this is an inverted char this is quite clearly heading in the wrong direction in the hourly candles so I want to check now is the four hour is the same thing or caring now on the four hour you can see that the MACD is looking bullish and the RSI is looking a bit flatlining which is interesting to see if we switch again to a different time frame go to the one day time frame you can see that the MACD is almost maxed out and you can see that the RSI is looking like its gonna return in the other direction which is very much bearish for Bitcoin now what were looking for is medium term trades to be taking which is why I chose the hourly to start off with now if we switch to the weekly timeframe again this is looking looking horrific at this point because Im not changing my scale at all and Im not set to auto my bliss switch to auto mode again you can see that there is plenty more room in the weekly for us to go down on this chart which is incredibly bullish now like something that Im pretty pleased to tell you because the weekly beats the daily and the hourly tends to beat the four hours in the medium term that tends to be what happens in my experience of trading this for so many years now that its not even funny so were gonna check again the 30 minute chart whats happening here we can see that ultimately we are bearish and the retest of at least 7, 400 seems incredibly likely so but by the end of today by the time you see this article even Bitcoin might be back at 7400 dollars to give you an idea of what time Im filming this article its about 1:30 p.m.
in the UK now moving on to the next thing I wanted to talk about today is again bitcoins price were still within this pennant quite safely there is more bullish momentum in the charts then there is bearish momentum in my opinion for now thats just just temporary now ignoring the weekly because this is not something that you really want to analyze on a weekly chart we switch to the 1hour again you can see that were looking slightly bearish its the weirdest contrast that were seeing at the moment between these inverse charts what I would like to point out in particular is on this chart the the 4hour chart this looks incredibly bullish which is really interesting because the for our inverse char on the other one I just showed you looked bearish very strange to see but these contradicting opinions basically cancel each other out and what were seeing here again Ill draw it here for you is were seeing a head and shoulders in the most crudest fashion which would mean that in theory then next level of a kind of web Bitcoin will be heading to will be around the 7, 600 mark before heading up to around the 8, 000 mark again now Im still looking for 8, 000 Bitcoin I firmly believe that we will see 8, 000 Bitcoin within the next 5 days or so and I get plenty of messages from from mr.
Bitcoin as for you know you are saying that bitcoins not going back to ok Bitcoin is going back to make it absolutely Bitcoin will go to 100 care I have no doubts about it Bitcoin SV is not big Casey theres a reason that he says fees I wont say it is because Id want to stay a monetized so any way we can kind of assess from this the bitcoins price is heading back up towards here in general this is what I take from this portion of analysis moving on to this chart here this is the one that weve been talking about previously if we zoom out here were still forming the exact replica of what weve seen before however I would consider that the dump and I would constantly see this is the interesting thing could you consider this here to be a replica of what is going on here now I think there is an element of truth to that which would mean that we are ultimately entering into a recovery phase at the moment but again it could be a selffulfilling prophecy where we break to the downside of it who knows its quite hard to predict something so far in the future but what I do know from this is especially on this chart here the RSI is completely maxed out the MACD is completely maxed out weve got in terms of weather moving averages are trading the 100 day moving average is looking more bearish than the 50day moving average which in general is a good thing for bitcoins price going up one of the things I do want to bring up his bitcoins volume is currently half of what he was yesterday in yesterdays tivity if you do want to check that we can also see that the interest in selling Bitcoin has gone up and the interest in buying Bitcoin has gone down the other day which indicates that we did have an element of capitulation the other day indicating that we did find one of the bottoms a Bitcoin has recently seen the other thing that I wanted to bring up todays tapas or were reasons Bitcoin dropped to six point five thousand dollars according to the Evonik executives now Chinas publicity on war on cryptocurrency now I dont believe that this is a natural thing theres a lot of projects migrating to China I believe that this is just an excuse tax reporting arbitrage quite possible big liquidity evaporating fast that is the main reason because there is so much liquidity that is leaving for leverage trading platforms and the only trading spot anymore because its so much easier to manipulate market are using spot at the moment entering in a leveraged position where there is liquidity and as the price drops you make a lot more money than you would just do trading spot which is why a lot of people are combining the use of the two at the moment as four by bit well I dont currently have any open positions on there at the moment I will if we get confirmation be facing along above seven thousand four hundred dollars and I will be shorting anything below the 6, 800 level purely because a break of that would signify a complete breakdown in the price it would also show that we were in somewhat of a expanding falling wedge which isnt the most bearish of positions to be in is actually quite a bullish position to be in overall but short term it is bad it would signify that we were heading back towards 6, 400 which I dont expect to happen soon I genuinely do expect a bullish pullback I expect some relief pumps I expect people to be making a lot of money out of this because ultimately the aim of the game of a lot of these people that are trading this price is to accumulate as much Bitcoin as possible because ultimately the reason why people trade bitcoin is because they believe in the underlying assets and if you dont believe in the underlying asset then you will pick something like Apple stock to trade because you can trade that with leverage as well theres a reason why people pick Bitcoin its because they believe in the underlying I said they want to accumulate have much of it as possible and that is why we see such volatility in this zone because hes such a good villain for accumulation now unfortunately were stuck in it again we currently sat on a 0.618 on this Fibonacci hes not the best position to be in but it is not a bad position to be in hes basically what Im trying to say I am ultimately incredibly bullish on Bitcoin I think that 2020 thats next year 2020 hes gonna be hes gonna be a massive year cryptocurrency I think the next year we will retest at least twenty thousand dollars I think the next year is going to be the year for cryptocurrency I know that a lot of people said that two thousand eighteen thousand nineteen I didnt say it for either of them to be honest I actually was very pessimistic about this year going into I said it would be lucky to hit ten thousand dollars and I was very grateful though we did and I was very much prepared to stick around for the long run and Im still here and Ill be here when bitcoins 1, 000, 000 so itll not note guys if you have enjoyed todays article its Marshall icon it would really really appreciate that make sure you are subscribed theres a link for bybut tool every trade in the description if you do sign up for that then you get like seventy dollars for free at the moment its well worth joining especially joining my trading team the other thing is Ive got a telecom trading group to help you out with your trading if you are interested in that the link is in the description Instagram I post on there literally all the time at the moment so you may as well follow me on there as well have a great day everyone I love you I appreciate you and I look forward to seeing you again tomorrow also subscribe to the second channel doses this article is over now youll find something else to watch or just watch this article I know we had a lot of fun but you can stay on this end street forever this article is over now so why are you still watching theres a unit I have lots of other articles that you can watch and Im sure youll enjoy them just as much now Im actually kind of concerned did something horrible happen to you did you leave the room and forget you were watching YouTube when you come back I bet youre gonna be pretty confused I would be too