2 Indicators TELL ALL About The Next 30 Days For Bitcoin! Bitcoin Price Prediction! #CryptoEspresso
I think that these two super indicators are predicting that were going to see an all time high run in the next 45 days. And why were about to see bitcoin rally back to 60 000. But there are four levels of resistance that are hopefully going to be broken, but if they dont break were going to be looking at a 45 000 bitcoin more than likely so were going to be diving into all of that. In this video i got a lot of technical analysis to throw at you on bitcoin. Here we got some great predictions that we want to make. We got a lot to cover if you do enjoy todays video hit that like button subscribe to the channel, but without much further ado lets go ahead and dive right on into it for context. You guys need to know where we are right now. Over the last seven days, bitcoin has rallied ten thousand dollars from 40 to 50 and were currently in the process of forming an inverse head and shoulders pattern. The thing is: bitcoin doesnt actually need to come down here to 45 000 and rally to the upside. There is potential that bitcoin can break to the upside, but heres the deal for bitcoin to move above 50 000. There are four levels of resistance that it must contend with number one. Fifty thousand dollars flat is a mass psychological level of resistance, and it is currently right above us number two.
Fifty thousand five hundred dollars is in play, as that was a local high that we saw hit over here on the 23rd of august, so we actually have a zone of resistance in play between 50 000 and 50 500. That bitcoin needs to break number three. Looking out to the longer term time frames, we can see that there is a downtrending level of resistance right here that is set by our all time, high back on the 13th of april. It is set right here on the 7th of september and then were also testing that exact same downtrend right now, which, by the way, is in the very center of this zone of resistance. On top of that, there is a uptrending level of resistance on the four hourly chart for bitcoin, which is also contending with a downtrending level of resistance here on the rsi. That means that, on top of those three trend lines of resistance up there, we also have rsi divergence playing in what that, basically means is that bitcoin needs to get above 50, 500 and then boom. The gloves are off. We can go to 53 000. break that and then move to all time high, but the problem is until we break 50 500. We havent had confirmation in the cryptocurrency technical analysis academy. I teach you guys about something called the convergence of support and resistance when resistance overlaps. It obviously gets stronger, so bitcoin needs to break this 50 to 50 500 region, and if it cant do that, then were probably going to be having a correction down to around 45.
Where am i pulling that number from well a local support level that we have seen sits right here at forty four thousand two hundred to forty five thousand dollars if bitcoin rejects here, then there is likelihood that we will pull back to this region. But if we do that, then what we do is we institute an inverse head and shoulders pattern with a price target between 55 to 60 thousand dollars. So if we do pull to the downside here, this is actually not a bad thing, because it sets up this inverse inverse hms that you can see right here and that has a price target of 60k and heres the deal guys. I think we are going to 60k relatively soon and heres exactly why. If we look at lux algo, which is a premium indicator that we have used for the last four five six months, every single day, it has become a part of my daily routine to check lux algo. It actually flashed a strong, buy signal just yesterday. This is a very good sign, because the last time that we saw a strong buy signal on this market was back over here on the 26th of july, and after that strong buy signal, we saw an uptrend of 50. I can do more historical analysis on this. If you would like in a future video but ive done it in many videos, lux algo has a great track record on the daily chart and right now it is calling for an uptrend, probably between 10 and 50 over the next month.
On top of that theres another indicator that i want to show you called market cipher. I can bring it up right here. This is one of the premium indicators that ive actually been working with recently. Not only is lux algo giving us a strong buy signal, but we can also see on this other indicator that kelly, one of our researchers has been helping me to learn down here on market cipher. We have some bullish signals now. Let me break down whats going on here. This looks like a complicated indicator. Im going to run you straight through it. Essentially, this blue level right here represents something called momentum, and the momentum on bitcoin is moving to the upside thats, a very bullish signal. You can also see right here. There were two green dots once here on the 27th of september and once youre on the 30th of september thats bullish as well, and then you can see this flowing line right here represents something called the money flow. The money flow moving into bitcoin is also moving to the upside, its having a small correction over the last day or two, but in general the amount of money moving into bitcoin is still rapidly increasing. So, im not going to go into a bunch of detail on market cipher right now, because i still want to do like a tutorial video on it for you, but in general market cipher is also pulling us to the upside and calling for a movement to the Upside, so not only is lux algo, which is an indicator that i call a super indicator because its always giving me great signals, but market cipher, which is a an indicator that is phenomenal and that im getting to work with now is also saying.
Hey were going to move to the upside for a variety and plethora of reasons so heres the deal i think were going to 63 000 by the end of the year of the end of the month. But if we dont break 50 to 55 50 to 50 500, then were going to have a lot of trouble and bitcoin will likely have a correction. Those are our two scenarios, both of them, in my opinion, lead to sixty thousand dollars, but one of them happens faster. If we break fifty thousand five hundred soon, we will probably be hitting sixty thousand dollars within the next three weeks. If we reject from it, then it might be halfway through november when we hit that sixty three thousand 000 region. But the point is guys – and this is what i want you to take away from. This is not even the time frame im telling you that, because i know you guys are always asking it the point is we have overwhelming evidence that were going to move to the upside? I went into a lot more detail on why, in the mornings episode of coffee and crypto, this is an abbreviated abridged version of coffee, crypto thats. The point of crypto espresso, which is the show that we just started, is to kind of condense everything down so that you guys can get it a lot faster than having to watch the whole hour show. But if you want all the information, all the context of why were going to 60 000 in the next month, or at least i think so, go back and watch coffee and crypto.
It went up this morning, thats all i got for you today, guys if you did enjoy make sure to hit that like button and also subscribe to the channel. We want to hit 200k subs by the end of the month, and i think we can do that. Our technical analysis on our subscriber growth is giving us very bullish. Signals right now so make sure to hit that subscribe button. If you havent already because were trying to bring you high quality educational content, backed up by humility and integrity, at least thats. What were trying to bring you is content, backed up by humility, integrity and tell us, if were not doing, that we want to be. I think we are make sure to subscribe if you havent already anyway guys its all. I got for you today before i go. I do just first want to thank each and every single last one of you for watching.