If you are thinking about whether bitcoin is going to go up or down from this point, i got something i need to show you today. Also we are talking about the evergrand situation. Is this actually resolved right now? Im going to give you all of those details were talking about altcoins in general and stuff. You just need to know today. So welcome back everybody. My name is cristiano, bringing you cryptocurrency videos every day, teaching you how to make money in this market. If you are new to the channel, then make sure to subscribe and activate the bell right now and lets dive straight into the bitcoin price here, and what we can see is that uh, since dipping down into my orange box here, we have had a couple of Very strong pumps, um well very strong. I mean this one was um from the bottom to the top yeah, almost nine percent. So this was strong and then weve had this one, which is already 12. So our thesis that this level at the red line and orange box was going to hold, has played out beautifully. So congratulations to anyone who got into a trade right here now before we talk about the evergrand situation. Lets talk about some other technicals. We need to pay attention to right now, so, first off the next levels of resistance is 45 dollars. This is on bitcoin and uh. Forty seven thousand dollars. You got forty eight thousand two hundred and then you got the uh bigger resistance up here at the orange box, which is around fifty thousand dollars.

Then you also have. If i flip on the moving averages, you have the um. A combination of the 50 combination of the 50 and the 100 – you have it approximately at 45 to 46 000, so make sure to watch these levels as well. On the way up, we are going to have to meet these. We are going to have to break through this and on the daily time frame its looking like this. We do have the uh 200 day moving average at around the 45 500 as well, and at uh you know reinforcing the 47 000 level. We have the 50 day moving average, so we do have these levels to pay attention to. You can see how beautiful the support level was here on the 200 day moving average sorry, this was actually the 100 day moving average. The purple line here beautiful support here. So are we out of the woods right now now that we have had this bounce at the orange box at the red line? Are we out of the woods? Well, of course we need to talk about the evergrad, the situation, but just from the technicals here. Just understand this, the orange box and the red line has done its job. It. You know saved us one time once we got down here it saved us one time we had a pump, it saved us a second time. We had another pump, but you also need to understand that the more times we come down to this level, the weaker it is going to become with time.

So we dont want us to. You know continue to hammer this level time and time again because for every time were getting down here, this is becoming weaker support. Now it has, as i said, done its job already. It saved us two times already, but we need to understand that its not likely that its going to save us a fifth or seventh or eighth time should we come down here again, so yeah make sure to keep your minds out for that. Apart from that, i also want to show you my trailer by the way, but before we do that there was a pump in the evergrande stock. You know that this has been a lot of fun recently. We did see uh some reassurance here, so the situation is that they did not default on one of the payments due today on thursday. So this has told the stock market that yeah this is probably going to solve itself were not out of the woods yet uh. As much as i would love to tell you remember this, when people were panicking, people were telling you to dump everything were going down to zero. I told you that this is probably not the time to sell bitcoin. You should probably not sell right into support here and now that people are becoming extremely bullish, theyre saying now, the situation is completely resolved. We dont have anything to worry about. This is what i tell you to still be a little bit cautious, because we dont know how this is going to its not fully resolved.

Yet, although i do believe that this is not going to lead into a massive meltdown in the markets, bringing down the crypto markets with them were still not completely out of the woods yet. But i dont believe in the long run that this is going to have a massive effect on the markets in general, but we still have to be cautious about the situation. I will keep you updated as always so bitcoin and ethereum still looking strong. Another thing we need to pay attention to is: if you watch my video yesterday, i want to go to the weekly time frame and lets flip on the ema, so i will take away all of that. I will flip on the 21 ema, and you remember how i said yesterday that we need to see a rally. We need to see a rally we need to close this week. We have a couple of days left. We need to close this week above the blue line and uh yeah. This is now above the blue line, so this is looking good so far, lets see if were able to maintain the price above the blue line and close above the 21 ema. This is very important. I will keep you updated. I did get into a trade here in ethereum. You can see that this is right now at 72 percent in profit, uh, so thats cool and of course i did give you the heads up that uh.

Let me go back to the four hourly time frame here on bitcoin. I did give you the heads up that yeah im going to enter into a trade here uh once we go down to the uh red line and the orange box here at 42 000. So i wanted to wait for bitcoin to be above the red line, and then i jumped into a trade. Now i did not jump into a bitcoin trade. Why? Because to be honest, ethereum has gone down more than bitcoin. You can see that bitcoin went down by 25, ethereum actually went down by 33 and im also, you know in general thinking that ethereum is a bit undervalued right now and that ethereum is going to do well. The problem with this, though, is that we do have the orange box here in ethereum, so um you know normally. I would probably because you can see we have the resistance here as well. You have the resistance at the edge of the orange box, so normally i would probably take about half of the profits of the table once we approach this level and then ride the rest of that up to the next level of resistance at four thousand dollars. Now a more clean trade would be to buy bitcoin at this level and then ride it up to the next orange box at uh, well at fifty thousand dollars. Now that would be. I mean from this point that would be a 20 gain and im doing it on 10x leverage at 200 percent, but this one would be even better so getting in at ethereum here taking profit at all time high.

That would be 40, so 400 on 10x leverage. So that was my thought process. Maybe im going to take you know half of the profit here at this line. Maybe im going to do that uh, i guess you will find out in tomorrows video or if youre following me on twitter. Of course, i will probably update you there as well, but trade so far, looking good and uh the next time im about to enter a trade. Of course, i will give you that heads up as well and, of course also if you want to join me, youre able to get a one thousand two hundred dollar bonus over on femex and uh yeah femix is the exchange im using for this trade. So far, so good on this one, traditional markets, we were talking about this w formation yesterday and how we needed to break the neckline right here. You can see the w coming down here. This was textbook w and we just needed to break this, and we have since then broken this with had a nice pump up to the next level of resistance. So lets see if were able to break the resistance here on the s p. 500. At 4. 420. The orange line and then have another nice pump up to 4 475 um yeah its going to have a lot to do with asian markets, whatever is going on with evergrandy. This is something we will need to watch closely through the next couple of days.

Lets talk about some old coins, so some of the old coins weve been talking about recently. My you know pick out of the top 50 coins. When i picked this one, it was actually at the 27th place. I believe it was here around 20. This is still doing good, although the markets are going down in general. This is still up 100 from when i made that call. I still think that cosmos is going to uh, be a uh good, good coin to just hold long term um, but yeah. Congratulations to everyone who got at least 100. If you got in on that video, i talked about cosmos. Rainicorn is approaching the all time high again absolutely massive gains in rainy corn. Still, no stopping rainy corn still doing good and uh yeah theyre, just continuing to deliver on the road map very nice for everyone who got into rainycoin for everyone who joined me on the bethu uh public sale, youre also sitting at massive profit. I talked about this. I believe two weeks ago and the public sale was only two cents, so youre sitting right now with what is that seven, seven x, eight x, so uh massive congratulations to everyone who joined me on this sale as well. I will continue to try to bring you the uh, undervalued old coins and continue to do the research needed to try to find these things. And if you are appreciating that, make sure to subscribe and activate the bell guys most important thing to activate the bell thats.

What i got for you guys thank you so much for watching.

https://www.youtube.com/watch?v=ihCmG5ilZEw