Hey everybody. Welcome to bit boy crypto im joined here by my friend carl from the moon. You guys can go check him out on youtube. His link will be down below in the description uh carl. How are you doing this week? Im doing very, very well im very happy to see crypto booming and i feel like we have to go straight into the charts and wrap our heads around whats, going to take place for the rest of this week when it comes to bitcoin and crypto in general. Yeah so bitcoin ethereum, uh new, all time highs this week in the last 24 hours actually uh. They both hit all time highs and now on on a bit of a correction bitcoin on a little steeper correction than ethereum is uh right now. Ethereum also has outperformed bitcoin uh in the last couple of weeks. I think about 35 to 25, so lets start with bitcoin and uh. What what are you seeing right now in terms of this correction? Is it over? Will it get deeper? When are we looking at new all time highs? Where are you seeing car yeah lets go straight into the charts all right? So what we can see here? This is the one hour time frame for the bitcoin price and yeah right. You can see that theres a lot of lines here, but if i try to make it simple right here, we saw an ascending triangle. We broke to the upside and the target should be all the way up here, because if you pull this down from the resistance down to the bottom of this um ascending triangle, then you can see that technically, the target should be all the way up here.

At 69, 000 now bitcoin came very, very close here. The all time high is now 68.5, but we didnt reach the target now in the immediate short term, but bitcoin is looking very, very bullish right now. If we zoom out to the four hour, you can see that were clearly in an uptrend here and um. One thing that i would just uh pay attention to is the potent the possibility of us forming some type of a a bearish divergence here. So lets go out to the daily time frame and bring out the the rsi. Here. We can see that if we were to get a bigger correction from here, then this would lead to a bearish divergence and the last time we saw a bearish divergence or actually um. One time was back here and then we saw a big correction right. Ultimately i mean first, we saw bash divergence and then we saw another bear divergence and then another diverges, and then we saw corrections. So sometimes you see multiple divergences before it plays out, but ultimately beside correction, the same went here: we had a bearish averages right there and this parity of urges also continued for a while until we actually rolled over. So what im saying here is that if we do get rejected by the ultimate here and get a rejection, lets say down to um back down to 63k, then in that, in that case we have solidified a bearish divergence.

I just want to point that out before i go into the more bullish, um tone of this video yeah so thats something we need to just pay attention to, but like inevitably, you have to understand that that bitcoin is looking very, very bullish right now. If you zoom out to the weekly time frame on the bigger time frame, you can see that were clearly in an uptrend, and even if we do see a small correction here i mean we saw a small correction here as well its inevitable that we see small Corrections on a bigger uptrend and thats gon na remain to be true, even on our trajectory up to one hundred thousand dollars uh. We will see small shakeouts and small um small corrections because remember guys, shake outs, big uh create breakouts. I think thats very important to keep in mind, but i think we should go into ethereum also. What do you think yeah? Definitely i mean thats a charge. People are particularly interested in right now, everybodys waiting for that 5. 000 e exactly and ill. Tell you exactly when thats gon na happen. So here you see, this is the ethereum chart against bitcoin or sorry against the us dollar, and what we have here is a massive cup and handle, and these cup and handles are very easy to predict with a price target, because the price target is basically from The top of the cup down to the bottom of the cup, you put it up on top of the handle where we broke out and this tar im.

Sorry, this target is six thousand four hundred dollars, so wow 6.4 k for ethereum here, and i would say that this target has a very high likelihood of getting met in the next like one month or so. I would say well next, one month to two months, im very confident about this target thats, why? I have multiple long positions open right now on ethereum, just like my audience already knows, but um yeah im, basically bullish on ethereum. What we could potentially see here in a bearish case is that we see a breakdown to retest the the the cup or the yeah, the neckline of the cup before we continue to head higher yeah, and i think what we have to watch in that case is Just this um, this uh channel here yeah this channel is going to be very important if you break the support, then, were probably gon na see that scenario. If we break the resistance, then that means were just gon na go straight up to the target. In my opinion, and actually, if we zoom out a little bit and just delete everything, then you can see that it looks like a theorem is in a huge potential, beginning of a massive parabolic run up that could take ethereum to like 10k 20k in the next. Like maybe four or five months, yeah, actually and uh before i let you comment on that. I just want to show you also that uh, if you go to this chart, this is the total crypto market cap.

We can see that the total crypto market cap is also forming help and handle. So not only is it fearing bullish or bitcoin, but all of crypto is bullish right now, with a huge target of all the way up here at 3.9 trillion dollars, and we are right now breaking into three trillion market cap. So yeah big news for crypto in general, im very, very bullish, yeah thats, exciting stuff. I mean, i think, what youre what were looking at here may be even more exciting than the ethereum or bitcoin charts uh. The fact that were gon na see the overall crypto market uh move substantially, and i can see four trillion. You know being a resistance point for uh for bitcoin or for the overall margin cap. So i can see that playing out uh ethereum, just crushing it right now. You know the ethereum chart that were looking at and weve been not seeing for the last few weeks it to me. What do you think this communicates? The fact that the ethereum chart over the last month is like a staircase? It has been a slow, gradual, consistent movement. Uh, like you, said its it doesnt, seem to be like a rising wedge or anything like that. Like its an exactly even channel uh, what what does that communicate to you about what ethereums doing right now thats a great question? I would say that it just shows us that ethereum has a lot of demand and that many people are interested in buying ethereum right now.

I cannot tell you exactly why, but the technicals are showing me that it looks like this chart is going to continue to go up. We are in a very clear uptrend were breaking into all some highs, high lows, high highs and whenever you see a very nice established option like this, usually i am a buyer and i am currently very very much long on ethereum and bitcoin um, and i mean I put my money where my mouth is and uh. I could tell you up or down blah blah blah, but i am long and i think thats the the bottom line for my analysis today. I love it. I love it. I think were gon na see some positive movement here, uh carl. Thank you so much for joining us today and breaking this down im excited about where crypto is going. I know you are as well. You guys make sure to go down below in the links and uh make sure to go to his or go down below to the description. Click on his link subscribe to carls channel. Do this kind of content uh several times per day from him. We always enjoy him coming on uh carl. Thank you so much for joining us today. Thank you so much. Thank you so much. I love bull markets, its so much fun. I feel like everything is just exploding. I dont know about you, but, like my twitter profile is getting literally like 11 000 followers per day right now, if that yeah its its mind blowing, i think that is a sign of a bull market.

If any, i dont understand why youtube is not growing. That fast though, but but obviously, people are interested in crypto right now and its just its so amazing, and i cant wait for 100 000 bitcoin yeah. It definitely makes all those bear market times, uh well worth it. Uh were here. You know probably relatively close to the top. Well carl. Thank you so much for joining us, like i said everybody make sure to subscribe to this channel like this video on your way out thats.