EMERGENCY BULLISH CRYPTO UPDATE!!! (Bitcoin Prediction/Technical Analysis)
I think people are getting impatient thats. The biggest thing right now is that octobers coming why isnt bitcoin jumping yet and when i mean bitcoin, i mean the whole market. We have supported around 40.7 k right, weve wixed below it two times, but we have come back up and weve tested it. One. Two three four, you could say four times uh. We could test the game for a fifth time. The more we test, something more likely we are to break through it. Now there is a lot of outliers here and when i mean outliers, i mean outside news other than technical analysis that is bringing bitcoin into some flood territory. The infrastructure bill will be voted on thursday, the evergrand uh crisis in china. I guess you could say crisis, but we have to remain bullish. I do believe all of this fun news is just massive manipulation. People are using it to their advantage. The supply number of bitcoin is constantly going down. It has not changed because big investors are getting involved, theyre getting their hands dirty theyre, getting into it theyre putting their hands in the cookie jar and theyre. Taking that bitcoin from you and when i mean bitcoin, i mean the whole damn market, so we got to remain bullish as long as we dont sell. We are good guys just chill. I think a lot of people are jumping into conclusion, because we have all of this fun news around the time that were supposed to go into one of the bullish months that bitcoin has had in previous history, and they somehow think that october is going to be The first time it is going to be a shitty month of october for bitcoin.
I understand it, but ask yourself: why are you in this market in the first place, why why are you investing in crypto in the first place? Is it to make a quick buck, because if it is youre, probably gon na get shaken out very very easily, now listen im trying to flip my money as much as you are im trying to swing trade im trying to do this and that at the end Of the day, you have to at least somewhat believe in what youre putting your money into. I dont understand the process of putting your money into something that you really truly dont understand and i think theres some people out here that are those people and theyre getting shaken out completely. I do want to go over. One reason why i remain bullish – and that is the falling wedge – that we have right here on the daily were gon na touch. The top of the support well see what happens um while this is happening. Hopefully, this daily touches it within the next 12 minutes and then the next daily. We can test the top out most likely of this falling wedge but, like i said guys, weve only tested this uh. You could say three to four times. No, you can really just say twice unless you want to say three times: im scared that a lot of people are gon na get screwed from this im scared that a lot of people are gon na sell out right.
Theyre gon na sell their crypto whatever they have and im scared that, after that, there will be a balance. There will be some sort of bounce and i think a lot of people are going to get screwed over by these whales and investors. All the retail investors are shaking out. I mean its as simple as that right now. This is what youre seeing this number on the right it keeps going down and up and the sellers are winning right now, because its all fear, im gon na ease your mind. Real quick, at least with the uh falling wedges, as we go down here, were gon na keep an eye on that. I just want you to look at it like this real quick. This is a good way to look at. It were in a falling lens right here. This is like almost textbook following wedge with, the key support at 40.7. K were were going to 40.9 guys this. This could be the make it or break it uh as the time of this recording. It is 7, 51 p.m. Uh eastern standard time, the daily is about to close lets, see where we close on this daily. You could arguably say the white golf accumulation is a falling wedge. This is a falling wedge. This is a falling wedge back here and thats when we have the run up to our all time high and as soon as you get a rising wedge right, we fall because thats, you know rising wedge, is bearish normally 60 to 40 percent.
Uh breaks to the downside and a following wedge 60 to 40 breaks to the upside. Could we be seeing a regular textbook falling wedge and we literally bust out of this and go up? The goal would be the most bullish scenario would be bounce off this? Finally, get out of the falling wedge and break to the upside and thats, not like a a chart to really um it. Doesnt look bad like it makes sense. If that happens its not so out of the ordinary, i think people theres some people that arent getting shaken out and the people are starting to realize the with all of this, the with this crypto market uh, the whales, the manipulation all this garbage. I think people are getting used to man theyre, getting used to it, theyre understanding it and theyre not falling, for it were getting more and more people every day that learn more and more about crypto and its not going to be as easy to shake people out Anymore, i can understand it, but i dont know why thats getting to you, you know the fud, the the news um with the china stuff. I get it the evergrand. We could be having a tether crisis coming in soon because of the evergrand stuff. One of those big black swan events – bitcoin could be the black swan event or tether could be the black swan event because the evergrand crisis crisis. But if you really did the analysis on that you would, it would show you that its probably not going to happen in october or november its going to happen in december most likely december end of december as the start of the new year comes so guys.
I do remain bullish on bitcoin. I do remain bullish on crypto um. I am going to give you the bearish scenario, just in case you would like to know it would literally mean uh. We come down here and start testing like 38k to 37k as a support because of this support right here and then, if that does not work out as support, we would break down, and i think our next support would be the 29k mark around there. That is the next major support other than this 40.7 k. Remember guys, if we wick below the support just remember on the daily, it doesnt mean its all over. I mean weve whipped below it here, thats, basically it and listen. This wedge is closing in on the support where you know. We only have a couple more days to break out of this falling wedge, where my cursor is right, there is october 1st. Do you see this area being a breakout point for an amazing bullish month, or do you see it going down remember before i close out this video im sure youve heard it around september is one of the most bearish months for bitcoin historically october november, big months December its a big month but october and november thats. What were waiting for guys thanks so much for watching? If you think this helped you out, or at least gave you some clarity on the whole situation with bitcoin and the crypto market, make sure you subscribe and turn on post notifications, so you can be updated on all this time.
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