THIS BITCOIN BULLISH PATTERN WILL EXPLODE! Crypto News (Caution)
So lets dive into the charts today and some of the bullish, crypto and bitcoin news. Give us an update of whats going on make sure you hit that like button and subscribe to the channel does go a long way to help helping the channel out in the youtube algo all right without further ado lets jump in and if you have never pulled Up a bitcoin chart make sure you do that. Its really super simple. You can use trading view theres links to this in the description down below free months, all that sort of stuff use the links easy to use. So what im looking at here is the blx and you can see the bitcoin loves to run these wedge patterns and eventually break out pretty quickly to the upside. So i remember through 2019 2020 we were looking at these lows coming in and then just drawing some wedges and again. This is just like drawing lines on a chart. Anything can happen, but the big things i want to look at – and the one things i want to make sure occur, is that we do get a solid wind up. You want to have at least a few points of contact for each of the lines that you were drawing and then, when you get the breakout you want to see some volume and possibly a retest, so it you can draw lines anywhere. I get that, but the main things is what ive just said.
You want to see those events happen, so at the moment weve only got about two points of contact. If we get a breakout from this point, then i guess we would have to bring this line up and we would have one two three. I guess why would i be choosing this low here? Well, this low was a solid bounce and that was our last weekly swing low. Before we took off to those highs of 65 000., so to me, thats significant to others. Maybe they want to use a low further down and then move this one a little further back, so its going to be subjective, thats a little bit of a challenge here for some people they want something more mechanical. The easy ones i like to look at are joining some tops at the moment. Weve only got two points of contact. Some might argue that this is a third point. If you were to draw it here, then youve got one two and youve had a third a bounce above and a retest on top of the line. So any way im drawing it. Weve got either bullish because what were looking for is a breakout of the downtrend weve got some volume on those breakouts and on the dips as well, for the re test or, if youre, drawing it from the tops. Then youre still waiting for this break and its looking more to the bullish side than it is to the bearish side, because of the other cryptocharts that we look at are the 50 percent levels.
So at the moment were above the major 50 level and were also above our 50 level from the low to the current top, which bounced really cleanly off that 50 level, and you can see the bounce off the 50 on the 20th of september. For that that week, weve got a nice, strong bounce, and so far were up a few days so were looking like were coming back to test this high, if youre unfamiliar with the 50 and the first time youre seeing my channel. This is again, 50 were using them were drawing them from the major lows to the major highs. Just make sure youve got the major lows and the major highs in place scroll out far enough to see those points, because these work really really well. They work. Similarly, to a moving average except you need to learn how to draw them. I found much better accuracy from the 50s thats why i continue to use them, so the moment were coming up to the resistance line. We get a bounce or a fall. Sorry, a correction from the top then im just looking for another bass to form potentially a touch of this line anywhere from this point up to where we are at around so that 44k. Does that mean its gon na happen? Of course, not all right were just looking at probabilities and pattern. Setups now ive got these words on the chart here as well. Leveraged longs liquidated because these were extreme times over the last one.
Two three four weeks this bar here on the 6th of september the week beginning the 6th leveraged longs, were liquidated, huge fears in the market. Then we had the 20th september china fudd banning crypto its been a wild ride over the last four weeks, and i dont expect that to slow down, especially as we move into the next stage of the bull market and its something that ive been talking about since June after we had those big lows in may, a lot of people were calling for lower prices. Of course, its still possible anything is still possible. I dont have a crystal ball im, just working off what i can see on the charts to my best ability at the time that the data is coming out. So these were the scary times. It looks like we have begun well, we have begun to put these past us and the last point at the moment is the psychological level of 50k. The second last point, i should say, is the top of 53 000.. So the first level i was looking at, which i talked about in last weeks – video was 47.5 000 and we have cleared that weve got some closes just above that level, so thats a good sign. The bullishness is there. I think people are still slightly scared. Any dips that i see im looking to be buying those dips now because i dont want to be buying too much. I dont want to have a heavy bag, as we continue up further now im talking about 100k in 100 days.
If we go from the current low of the 20th or the 21st of september, 20th was the first massive drop. A hundred days brings us out to the end of december, so the last day of september is 101 days away. If were looking at plan, bs tweet is ticked off august of 47k september of 43k, where the month was closing. Next targets are 63k for october november 98k and then december 135k. I think weve got the possibility of getting it to those prices in this year. I dont know if thats going to be the top some levels that im looking out for with the top are up around that 110 to 130, and i was talking about this on a recent video with crown just looking at some of these ranges and projecting those Forward on some major fibs weve got 1.618 coming out at about that 102 level. So i expect some sort of reaction at 100.. If we only get a minor reaction like we saw in december to 20k, then i think weve got the a good opportunity to go. Really strong to the next level somewhere in that mid 150s to the higher 180s, its very broad. I understand that, but were still a long way off those levels and we have a lot of targets to get through first 50k, cleanly above 50k break the 53k break. The 60k and then the recent high of 65., so theres still a lot of levels to get through and it doesnt matter.
If we dont have an exact target of the market must hit 180 000 by the 31st of december. It honestly doesnt matter what what does matter is that we start to see patterns form at those highs. So you want to be aware of what pattern is forming and then look to exit. When you see the patterns forming now lets look at ethereum because its in a similar setup, except when we join the highs it has broken out tested it broke it out that little subtlety on high volume had a little retest at the moment. So, even if this market shoots up or it decides to come up and then fade again, weve still slowed the bleed thats. The main thing that i look for, which youre also familiar with when im talking about cardano as well. I just want to see the bleed slow, so this is like the angle and the rate of the market falling. We have broken that to the upside, and so even if we do get some downside, no problems. For me at least, the market is slowing down the bleed, and it gives me more opportunities. Ive noticed bitcoin, and some of these cryptos do give that second, maybe third opportunity. Only if youre really aware of whats going on otherwise its off to the races and the majority of people start to get in once all of these highs are broken because they feel more comfortable. The high prices are here, and everyone feels more comfortable at that point.
In time what hurts is when the market is here and were buying it at 3 300 and then it starts to fall away from us and gets to around 3 000, because you think well, i could have bought it at 3, 000 and saved myself, 10 percent. I personally at this point in time in the market im not looking to save about 5 10 percent. I would rather save massive gains of 20 or 30. If i see those because to the upside, i still see several hundred percent, maybe for these majors a couple hundred percent a few hundred percent same deal for cardano, but yeah im not looking to do the fives and the ten percents. If you want to learn more about cryptocurrency trading and investing youll get some updates of what im looking at in the markets, the trades, how im understanding the markets then jump across to the patreon down below theres. A link to this were opening up. Another 100 tia light early adopters positions here this month, so jump on early in the month so that you get the full value of it. There is all the other posts available as well and youll find a link to this in the top of the description down below lets have a look at the bullish news: bitcoin prices, dip dips are being bought up strongly, but a 50k close remains key thats. What weve seen in the markets as well were seeing these lows get bought up and provided these current lows dont get broken, so weve got the one in august and the one in september.
I definitely think weve got a really strong bullish base forming at the moment, but if these lows are taken out, then that would mean a lot longer grinding, so the major lows to get broken would be the 28ks that 2829, if thats broken, shows probably over. For some time, but if we hold up these levels, the really strong base is forming to get to that 100k by the end of the year. But if we do break those lows just one last time, if we break these lows at 37 and ‘, then its probably grind time in these lower levels for a little longer. So the article just talks about the lows are getting bought up and thats the thats. The reason that were seeing the lows get bought up the major lows are getting higher. That generally means the lows are getting bought up. So if you are making money in cryptocurrency, this is a warning. This warning, i know ive got a lot of bullish news as well, but make sure you have google authenticator turned on make sure youre holding your cryptocurrencies in something like ledger. You can find a link to that down below as well to purchase your hardware wallets, because we can see here, coinbase, multi factor, authentication hack affects at least 6 000 customers if youre getting your two factor. Authentication codes on sms use this as a time to move over to something like google authenticator. There are several out there, but choose something else that is more secure.
Speaking of sms, i was stumbling on my words thinking about smsf. This is for the aussies wanting to invest in cryptocurrency through their superannuation funds. Again, you can find a link to this down below 100 bucks, 150 of free credit off your monthly fees when you sign up using the posino code. So if you want to move from those traditional super funds check out the link down below talk to them, 20 minutes free consultation super easy to set up, and then you are in control of your retirement funds. Finally, scc pushes deadlines on four bitcoin etf applications to late 2021, just keeping up to date with the etfs, because everyone believes these are going to be some of the catalysts to push this bitcoin price well over a hundred thousand dollars. Of course, weve got targets of 400 and 500 000 out there. I dont know how close were going to get to those, especially considering the percentages that we have already put in, but i definitely believe the news will be so hot that you will have a very hard time, believing that it cant get to four hundred thousand dollars In the next six months, solana nft sells for 2.1 million breaking previous network record. Finally just to leave on this crypto bullish news. We know and weve seen it before when mt nfts are going crazy. Usually, something is up in the market, whether its a intermediate top or a major top. Something is going on because people are getting extremely bullish on jpegs, well, one off jpegs, extremely rare, jpegs.
Okay, so keep that in mind long term.