HIGHEST Weekly Bitcoin Close! MUST SEE Huge BULLISH Cardano Indicator!
What is up, everyone welcome to crypto capital adventure, hit the subscribe hit, the like on the way in bitcoin, just had its highest weekly, close ever and theres. Absolutely no euphoria at all. Besides the charts, thats kind of something i just really wanted to touch on, i dont know if you were here in 2017, this this whole thing happening back here into into all time: high every candle, like every candle, close that we were getting back. There was just insane euphoria going on you just couldnt believe it would keep going and finally, it did top out right. It topped out bitcoin, topped out on the weekly chart there, the feeling in the air the sentiment that not even a feeling the sentiment that we see is just not there, and this is good. In my opinion, many people going into this bull market and even post entering the bull market, which was right here, these bull market doors in november. Many people saying this bull market is going to last longer right and the setup on it on the technical level. For these charts is, is the perfect setup for this bull market to last longer than the last bull market, and so here we are on the weekly we just got our highest weekly close ever were in a new weekly candle. Who knows whats going to happen. We have some interesting charts on the kind of more zoomed in scale. You can see theres the highest weekly close ever and bitcoin right now.
Just let me get rid of this line. Just kind of stagnant in this area hovering around all time high. We go to a daily chart. You can kind of get a sense of what it is its in this upward trend, and this is kind of a rising wedge. Many people view this as bearish. You know theres definitely potential for a touch to the downside. What im watching for is this upper trend line? Can we wake up tomorrow and bitcoin? All of a sudden is putting in another all time high its such a small move, its not a big move at all for bitcoin to do something like that were talking about less than a 10 move. Were you know, six percent if five to six percent away from all time, high thats a move that can happen very very quickly in a matter of minutes, so what im doing is kind of on the weekly? I know theres upside potential right. Let me let me kind of bring up these oscillators real, quick, the momentum oscillators on the weekly and, if we look at them, you can just see in terms of these swing highs that bitcoin gets into on this oscillator and by the way here is the last Bull market high all the way back here on the oscillator and heres bitcoin. A ton of upside here is bitcoin right after entering the bull market, this current bull market and just going crazy and here is bitcoin a ton of room for bitcoin to the upside.
One thing to keep in mind on the daily chart for just a crazy volatile dip environment. Bitcoin doesnt get this next leg up. Doesnt get this breakout that we want to see. We have the lower trendline touch and this is a really important touch area to the current swing high, all time high. We have this higher low area, and this is an environment if were in a longer bear market or a bull market. Here everybody thats going to last longer, then these types of dips are probably going to play out and were going to have to survive them more and more right, like this one that happened. This was a huge important move to a one. Six one eight on the macro, so what i mean by that is zooming out. We know we have this fibonacci, the last bull market, high two – and let me stretch this out a little bit to the bear market low of 2018, and we have this very crucial touch right here to the one six one: eight theres, the bull market doors right Here, in green being broken, throw back down to the one six one eight line of that fibonacci. That was a really important, really important move whats interesting to me, as you can see, bitcoin breaking through the bull market doors here kind of this. This last touch area is the beginning of this lower trend line to the one six one eight. So we have huge macro areas from this fibonacci in play right now, and this lower trend line extremely critical, so i think its wise to at the very least, anticipate some kind of dip to that area, not saying its going to happen, not saying, i think its Going to happen, im saying lets prepare for it to happen, and what that could look like is a vicinity of 45 000 at the 618 to right around 37 38 000 at the 786, something to be prepared for thats all but zooming in on the charts.
We get a better idea of kind of where we are. This resistance is lower high resistance from the all time high something im watching, meaning all time high swing low right up to a fibonacci, lower high. You can see bitcoin already struggling just below the 618 line of that fibonacci. The reason i use that is because we see these all the time up – trends downtrends whatever i real, quick, just charted. These are all like perfect fibonacci resistance areas right. They played out perfectly like over and over and over again and its just a perfect illustration of downtrend and resistance and the bulls stalling. So when we get to these setups that happen very often – and you can check this out bitcoin from this last all time high to that swing low, you can just see this – this entire channel fibonacci resistance playing out before finally, the breakout to the next. All time. High, so on a very zoomed in level. This is the area that im watching right now on the zoomed in it is right, around 66 400 to sixty seven thousand five hundred dollars. Thats resistance for bitcoin want to see if bitcoin can break above that, but right now you can see its already stalled out in the current six hour candle of this new week that were in thats what im watching for bitcoin lets pivot over to cardano. Before i do everybody, one of the most exciting projects really getting ready to launch cardanos sunday swap you all know, theres, like less than two days to vote, i got ta keep pushing this thing.
I need your help. Everybody um its very simple to vote for a stake pool operator for the iso uh its the initial stake pool offering and what it is is sunday swap gon na be giving away right, basically launching distributing five percent of their two billion tokens for distribution theyre. Using stake pool operators to do this in their launch when the dex goes live now to do this, theyre using stake, pool operators so thats what theyre doing thats what this vote is for its for uh voting. Those stake pro operators in its 30 stake, pool operators with 10 pool operators in the reserve as backup – i guess – and so you know you see all you see all the stake. Pull up. Operators were all kind of were all pushing this thing right. We want your support. We all just want to just its, not even so much competition, its just kind of like we want to be a part of this. We want to take part in in the technical side of this, and and really this is history uh for cardano its history for sunday swap so um its iso spo. All you have to do is copy your receiving address. Indentalist, your roy nami wallet just copy your receiving address and then in the same wallet, send yourself exactly 2.923 ada to the address you just copied and thats a vote for ccv, and it applies to all of our pools. So um note that theres a very minimum minimal transaction fee when you do that uh so appreciate your support.
We have less than two days lets pivot to cardano. Here we are with cardano 205 right now, cardano 205, everybody. So i want to touch on something on the weekly chart and it really ties very well into what we talked about the other day in the last cardano update, and that is this. In the last update, we were talking about kind of the 20 day, moving average cross that we just had most recently below the 50 day that blue line, so the green line also crossing below that blue line back here 20 day below the 50 day. That was uh post mary hard fork, so thats post mario hard fork. Here we have post alonzo hard fork and then here we have post shelly hard fork. These consolidations are so similar. We talked about the time frame where cardano consolidated after that cross before breaking out right so 86 days, back post, shelly 54 days right here, post, uh, mary and now were at alonzo where so far were 52 days. But i want to dig into this really on a macro level. I think last time i dug in and we zoomed in now i want to zoom out – and i want to talk about these areas because something bullish is lining up. It doesnt mean its going to play out were going to zoom in on the charts in a little bit in a couple minutes and were going to talk about where cordano is right now what it has to do, but lets zoom out.
So what i want to do is i want to look at, because what were waiting for is a breakout right. We all want that. What i want to do is i want to look at when we got the breakout that 20 day moving average cross above the 50 day back here into that next, all time high move, that was that was right back in august, not that long ago, and then We also had this breakout the 20 day back above the 50 day that led to a huge breakout – and this was november 19th right around november 19th, so november 19th, and we have like august 9th area lets, go the weekly august 9th right here november 19th. So there are the breakouts. This is what it looks like on the weekly this pop from the 20 week moving average, this pop from the 20 week moving average, and here we are – were waiting for the same thing, a pop from the 20 week moving average its not guaranteed. However, something bullish is lining up confluent. With all of these moves, i want to show you this. This is the rsi its the stock rsi quicker moving momentum oscillator its its oversold, its been kind of oversold here for a couple weeks here now you can see the k line, the blue line, getting ready to cross above the red line, the d line. So sorry about that k line to the d line right there look at this cross getting ready to happen.
Now, if you look at, let me go back to the chart this pop away from the 20 week moving average. What just happened before that happened? K line the blue line crossing above the red line, the d line. Now what happens with this pop away from the 20 week moving average, leading to the breakout back in november 19th, k line crossing above the d line, so were in that oversold environment that we were in before even on the rsi were getting those similarities. In terms of consolidation in the same general vicinity like right around here, the 50 line so back here it consolidated post, shelly, hard fork post here it finally consolidated at the same area post mary hard fork. Now here we are post uh alonzo, consolidating at the same area, oversold on the stock. Rsi were just about to get this k line crossing above the d line and all the indicators are are set. Now i i cant, i just cant say enough: how much that doesnt guarantee it just does not guarantee anything, and please remember this. This video is not financial advice. Everyone i should have. I should have opened this video with that i forgot its, not financial advice. This is data, but were seeing pretty strong, solid bullish data on these macro charts for cordano, especially after just been sleeping and sleeping and sleeping, but just remember, weve been here before right back here, a little bit here now weve been here again all in the same Area all these momentum oscillators lining up the same and putting all of that aside, everybody theres just so much going on um the plutus application back end.
You have just i mean catalyst. I was thinking about catalyst lately and this this governance system that pretty much nobody in crypto is talking about. You know unless youre in unless youre in cardano, you have jed this decentralized algorithmic, stable coin. You have like so much and then you have all these companies and projects building on cardano that havent even launched. Yet people get some people out there get tired of me talking about cardano so much and i i just really dont care. This is such a big piece of my my investment approach. Cardano is, and things are about to to blow up, and i think its going to provide so much content to to just cover surrounding cardano and im really excited about it, so crypto capital venture. Obviously, we cover bitcoin bitcoins, a huge piece ill, probably cover bitcoin more in a bear market type of environment, because thats, where i leverage bitcoin more um, but right now with where we are in the in the growth of cordano cardano, is where its at so lets. Go real, quick to the to the daily chart. One thing i want to point out its very simply where we are on this daily chart. Let me open this up so on this daily chart were still below this 50 day moving average, which is its that first thing. We want to see cardano get to its around 211, so we want to keep that in mind.
Whats good is, you can see cardano hovering above the 20 day moving average. This green line so were in between the two and weve been here before notice, this area that we just talked about this 20 day moving average cross above the 50 day. We were right between the two then right for for a little bit, probably when cardano was being called a stable coin, then we got this move and on the weekly chart we were just getting that that uh k line cross above the d line, the blue above The red and so were at a very similar area in terms of where cardano is now as where it was in august right so before that explosion doesnt guarantee its going to happen again, but very similar, so thats on the daily chart. Now, on the six hour um, if we – and this should be actually right up here – lets move this to right around what do we say: 211, 50 day moving hours just for reference, so we know where thats at, but here we are, nothing has really changed since The last video number one we got the breakout through the descending triangle back down throwback, which happens. We know, i believe, its 60 of the time right 60 of the time, throwback rate based off of the pattern patternslight.com used. So much of his data got the throwback. No concerns right, it is what it is and now were still just consolidating sideways, as all of that macro stuff, kind of happens and formulates and comes to fruition and at the same time were still testing this and were really cardanos sideways right now were just testing.
This um, this last swing low, all the way back here to october 27 to that swing high, that breakout that we had and were just still testing the support that cordano is at and right now to the downside. This is the biggest thing that im watching its this green rectangle of support, its a fibonacci, high or low support, which is right around uh, two dollars and three cents down to a dollar. Ninety four thats, the area to the downside, im watching no concerns kind of really until were breaking and closing six hour and daily candles below that support area and then to the upside im, just waiting for just some type of pop pop to the upside heres. The fit were on a six hour chart but heres the 50 day, moving average right around 2 11 waiting to see if cardano can get back above that area and then ultimately break above this fibonacci, which is very simply uh. A resistance area from the swing high breakout to that swing low when cardano kind of crashed we want to see cardano 221 to 228 were still waiting, theres, not much. I can say in regards to this chart because its just been sideways. This is the hourly chart. One thing i will note real quick to end the video is this cardano with this upper momentum of higher lows is good now. What strikes me as even better is the fact that we had this symmetrical triangle that we were tracking before and it kind of broke to the downside.
Whats good here is yes in that symmetrical triangle, we had a very similar higher lows right, but this is what strikes me as potentially a signal of bullishness. We have these higher lows, but weve put in a very strong high right, higher high, so its not just been lower highs, similar to back here, lower highs we put in boom a momentum shift indicator upper momentum with a higher high, so thats on the hourly chart. But it really does all come back to this weekly. If you look at this weekly chart and this potential look at this, look at this cross happening right now, and we just got that last time in all like july, right before the august breakouts, and we also got it back here in september or actually, i should Say right here in november before that crazy, breakout, post shelly hard fork so thats all the data, everybody thats. What im tracking? Let me know your thoughts. I appreciate it hit that subscribe.