Key Bullish Signs For Bitcoin (Crypto Wildcard V Shaped Recovery?)
Of course, we we have to kind of be comfortable with this. This idea, ever since we broke this support there, and this support there with the volume that were seeing right now. So i dont want to sound bearish uh. I hate you late girl, too late, hey guys, im back with uh carl whos, also back on the channel on monday, moon mondays thats. What we should start calling it uh, make sure guys by the way, before we get too far into this video, make sure to go down to the description and subscribe to uh carls channel the moon, uh carl uh last week. I believe that we talked about you know, bitcoin could possibly break down, and you know it seemed like a mythical scenario and uh. It played out exactly as you predicted. So what are we looking at at this point for bitcoin yeah lets dive straight into the chart and take a look all right so yeah? We are here on the daily time frame and last week we were talking about how we were forming. This bearish diverges actually thats thats, something we talked about two weeks ago and i was saying that were potentially going in for correction here and that the big support to watch will be down here at 53k and obviously, last week we talked about how we were forming. This potential bear flag and this this bearish scenario where we might break the support and if we do break this report, then obviously that is the beginning of the bearish scenario and ever since last week the bearish scenario has been confirmed and essentially we are potentially in The beginning of a bear market – it doesnt mean that it has to be a multi year, bear market.
It can be something like we saw back here where we have a a bear market. That, arguably, was something like. Maybe you know 70 days long or so. So if we were to see like a 70 day long bear market, then that could be something like uh up until february next year, thats definitely a possibility so um. I think we have to kind of become comfortable with the idea that were probably not going to shoot up to 100k before the end of the year. Actually, at this stage, its extremely unlikely, i would say, because when we break key support, uh on big volume like this, it just always always means at least sideways consolidation. Before we can gain back the momentum to go back up, but it can also mean that were going in for a bigger bearing market. That could look something like this. I dont expect below 30k levels ever again, but i mean testing 30k could happen. Of course, we we have to kind of be comfortable with this. This idea, ever since we broke this support there, and this support there with the volume that were seeing right now, so i dont want to sound bearish uh. I hate you late girl, too late yeah. I guess i already sounded a little bit bearish so far, but okay, so only bullish notes lets lets talk about the bullish thing. First of all, bitcoin uh has already tested the fibonacci golden pocket, thats good.
That means that we already kind of tested a key level. If we, if we didnt, do that already, i would have sat here said: okay lets watch the golden pocket, maybe thats, where were gon na reverse, so that already happened so im not gon na im, not gon na go into any much deeper bearish targets than that At this stage and the other bullish thing, i think maybe the most significant thing is this chart the cme futures chart where we have a huge gap, gaps love to fill, and this gap is above us thats bullish. That means that the price should have this kind of magnetic magical, uh tendency to go up and fill the gap so that those are the two bullish things im seeing in a sea of bearish signs. So what what would be a scenario uh in which you would say: okay, uh? Maybe we do get a v recovery like what would bitcoin have to get up to numbers wise? What price point um would it have to get to for you to be like okay? Well, maybe that was a blip on the radar. Maybe it can flip back bullish very quickly, okay, so the first level that is important to break is this level, because we had some previous support there, some previous resistance there um basically were actually already above it, but i i wouldnt really say that this is like A critical, critical level, its its just very good that we are right now, above it uh, but to be perfectly honest with you, i think the most important level to watch is going to be this level that that we broke thats.
The level that i was talking about as the bearish level and its gon na be our bullish level now thats. What we have to break above so were talking about to be very specific, um, 52.7 thousand, but lets round it up to 53 000. We need to get above that yeah. Is there any world that exists where we get back above that and then get you know, start bouncing right back off the the red trend line there. Do you see this on charts, sometimes where youll have a gigantic crash and itll come back and then the trend line will continue to act to support um yeah that that can happen. Of course, of course, i mean you mean, break support and come back up and it continues to hold support, yeah yeah for sure, but i mean obviously the support will be much weaker, this time right, correct, correct, yeah. I i think that kind of the wild card that that im looking at here is you know its not just bitcoin that crashed um its the traditional markets have been crashing as well uh all based on of off of this news around this. You know new variant: thats came out, um thats. What we saw at the end of last week is going to be really interesting. I know this video is going to post today at a 3 p.m eastern standard time, but around 9 00 a.m, which is in about 45 minutes from now, or maybe its 9 30.
im, not a traditional guy thats when the stock markets open its gon na, be Very curious to see what happens to the stock market because with something ive been talking about a lot on my channel. The last few days is that the news is slowly trickling out that this new variant is actually weaker than all the other variants. So this big, like hoopla, everybodys scared uh about the you know, are we going right back into the pandemic? Are we gon na face new, shutdowns and stuff like that? Thats whats had the stock market worried, but theyre already coming out and saying that this is much weaker and theres. Actually, like deaths are going down during this, you know rising cases, so you know, i think our one hope we have right here is not on the chart, its fundamental, its looking at you know. Could we get some news that could kind of reverse the panic that set things in from the other day? Yeah honestly, i dont pay too much attention to those bigger um, those kind of topics. To be honest, i try to stay focused on the charts um, but i i guess that its for many reasons why i dont pay attention to those kind of things, because yeah just many different reasons, yeah. No, i feel that, but i do. I do think that the fundamental news is, it can be very important. I mean if we go back to what was going on in the last crash.
I mean we had all this stuff with elon musk. We had all the environmental stuff. You know the china ban, the news does factor in and it does play a part and i think when youre looking at a chart that breaks like the one that broke the other day, its going to take a news event to push it back up and get It on the trend line, i believe i i dont think. Naturally, the money is just going to come flowing back in in the short term, maybe youre right in the short term, long term. Obviously, we all know its going to go up but yeah in the short term, we might need a bullish, um fundamental um spark to kind of um to get us back up, but uh i mean yeah its its always this endless debate, fundamental versus technical analysis. I think both are significant. Fundamental are usually more for the long term, uh technical and more for the short term thats. What i usually say – and i think thats pretty accurate, but obviously when you have big bearish news coming out that can lead to a short term break of support of sorts kind of like what we saw here so um yeah. Well, i i think i think we all understand that the mainstream news is awful and nobody cares whats going on in the mainstream news. So carl tell us about when you were on fox news this week Laughter, i said that went up good.
You got to admit that one, so you were on a fox business. This week i was on a few weeks ago. Uh tell us about how that came about and what you were talking about, yeah, so fox business they reached out. They wanted to learn more about uh me and casta, because obviously it seems like castle has been just going completely viral, not only crypto but um im, not sure if its a secret but um yeah, but these are they uh they reached out to us. They want to know more about us uh. Actually, i think that was a secret, but im just gon na break the news right here. Well, theres, nothing sign nothing sealed they just reached out to to learn, know more about us, um and yeah fox news. They they want to learn more about casta, so it seems like were doing something right, um and we still didnt spend even a dollar in marketing, but we we broke 170 000 people in the email list today um and were this close to breaking 100 000 followers On twitter um, i think its only like two thousand followers left, which is so whats the usual whats. The username well get our our audience to go over there and help you out whats the username for the cost app at casta underscore app password yeah underscore. Maybe if we put the link, it will be easier because there are many scams out there.
So if we put the link okay well, do that because honestly theres, so many scammers out there telegram groups fake websites, fake everything. So we try to push everyone to the official links, only uh and very, very important. The token is not launched, so if someone tells you that they can, you can buy casa token thats, a scam, scam, uh weve, seen many of these, its so horrible. I mean crypt is for these people. It is um well funny, funny story. I was i was at uh at the conference last week i was starting the ceo of a company and he told me that his own sister got scammed by an impersonator of him yeah its horrible yeah. I mean ive. Had friends reach out to me as well being very close to to send money to these cameras and uh? I dont know what to do like ive been trying to uh do something about it, but every time you shut one scammer down another one pops up. So its like an endless game of this, you know it doesnt really work right, its its horrible, its unreal, like it really is. I was telling my wife that the other day theyre theyre, definitely kind of like groundhogs its like you, you put one down and then they come right back up, except for you know, theres 10, more every time its a battle, we all fight, but uh. You know it is a part of uh being in this in this world, and you know people have got to learn uh expensive lessons, sometimes uh when they do get hacked or phished or send money to a scammer, or something like that.
So this is part of the process. I think weve all been there. Weve all either almost been victim to a scam or been victim to us. I got phished a long time ago, but girl speaking of that so go ahead. The only the only official website is casta dot io. There are probably 20 scam websites out there, but the only only official caster dot io. We had many problems with that. You guys are here. You guys check out costa.io. That is the official website. You guys make sure to go. Give costa underscore app a follow on twitter, well, put the link down below carl. Thank you so much for uh talking about bitcoin with us uh, the hopium is short um, but you know sometimes uh stranger things have happened so well. Have to see and monitor, i want to know from the audience.