BITCOIN RALLY WHEN THIS HAPPENS!!!!!
Todays video were going to be talking about exactly what and why, its likely to happen between october and february. You definitely want to stay tuned Music, whats up everyone randall here from crypto love, todays video were talking about the one thing that bitcoin needs to do before we have another bull market rally before we get into it guys make sure to like subscribe click. The notification bell come join us over on twitter at the crypto love lets get to 2 000 likes just push that like button now, today, fear and greed index 14 same as yesterday. No change the overall market up: half a half a percent, pretty much the same as yesterday: almost no change bitcoin at 21, 409 ethereum at 12, 35 bmb at 238, xrp, 36 cents, cardano, 50 cents, solana, 41 dollars and dogecoin 6 cents. And if you want to the top coins today, based on artificial intelligence and machine learning, they would be trust, wallet, automata storage, helium and 10 set. And if you want to try out token metrics for yourself, there is a one week free trial with the link down. In the description now bitcoin today just continuing to follow this long term uptrend that bitcoin has pretty much been in its entire life. It did bounce off the 280 weekly moving average, also the area of the previous all time, high 20 000. Can we sustain this upward momentum? Well, we have the 200 day moving theres 200 weekly moving average coming up here in yellow, very soon right now, around 22 342 and potentially since were underneath that theres a possibility that could become resistance, but were not talking about that.
Today, today were talking about what bitcoin needs to do before. We actually see another bull market rally so not too long ago. Dylan. Look here saying that bottoms are in when the derivatives market is shorting bitcoin into the dirt. After the brunt of spot selling has taken place were getting closer, we can see when the perps funding rate is in red here, like down in the bottoms of last summer, like down in the coveted bottom thats generally, the bottoms when price starts to take off were Getting very close were in orange not yet into the red area, but if we take a look at some other charts like this from the real plan c, the percent of transfer volume and profit z score. We can say its at historically low levels, theres still room to go lower if we have black swans or something different, but historically any time the z score has been in this level. We have seen bottoms not only that, but the long term holder spent output, profit ratio seven day, ema, also in historically low levels. Historically, when the long time holder shows signs of weakness and capitulation, the macro bottoms are close were very, very close to this area, where we have seen bottoms previously, but were still not talking about exactly what bitcoin has to do, because if we take a look at Things right now, everything was suggested. Now is a great time to be stacking. Your sets piling up more bitcoin, because this area, where we are right now, is likely the bottom.
We are in the bitcoin gutter accumulation channel, which historically anytime, a bitcoin has been in this area between the blue line and the blue shaded area. Historically, amazing areas to buy bitcoin today is between fourteen thousand and twenty three thousand dollars, and we have the pi cycle. Bottom indicator, suggesting that the bottom is very, very close at hand. This called the exact bottom in 2015. It was two days off from the exact bottom in 2018 and right now, its actually suggesting a bottom on july, 9th coming up within two to three weeks. From now so that being said, what is it that bitcoin needs to do before? We see another bull market rally? Well, it turns out that bitcoin needs to break the bear cycle resistance, which is the resistance that was broke to start every single rally in bitcoins history. Now this resistance is pretty much between 27 and 30 degrees off of the upper trend line in this parabolic trend and once bitcoin breaks, it guess what boom parabolic rally happened here in 2012. Boom happened here in 2015.. Boom happened here in 2019 and guess what we have. This bear cycle resistance right now that, as of todays date, is roughly around 37 dollars. But if you follow me historically, we have broken through this resistance between this little dotted line right here and the solid bottom parabolic trend line between those two areas. Well, if we just scan out to the trend we are in with the bear cycle: resistance guess what that occurs between october of 2022 and february of 2023, so potentially, while we may not have an explosive october november december, that could be signaling the bottom, the beginning Of a multi year, parabolic rally that could be huge for bitcoin, so guys thats all for todays video.
If you did enjoy make sure to like subscribe click, the notification bell, i will catch.