A Bitcoin Move Years In The Making! Cardano Waits, Primed & Ready…
If bitcoin does this one thing, altcoins like cardano, waiting getting ready setting up for a potential bull move, one of the biggest bull moves in crypto history, Music, whats up. Everyone welcome to crypto cap adventure, hit the subscribe and like on the way in lets jump into the bitcoin cardano video lets start with bitcoin, throwing this out there, everybody im, not a financial advisor im, a youtuber if youre looking for a financial advisor seek one out For financial advice, dont look for financial advice on youtube. This is my opinion. This is data im in the same boat as you trying to figure all this stuff out. Everybody – and i really – i really am extremely kind of intrigued with the bitcoin chart right now, because i this has been years in the making potentially and we have to be really really careful, and i want to throw that out there. I should underline and highlight this entire video, though this could turn into something very bullish. Very, very careful because were at critical resistance on this chart. The resistance on the bitcoin chart is the all time high to the swing low in june to the fibonacci resistance. Is it no surprise if youve been watching this youtube channel talk about fibonacci all the time? Is it no surprise at the 786 line right right in that 57 000 area bitcoin is just dancing its dancing with resistance? How often do we see it happen on the fibonacci here? It was dancing with the first bit of resistance at the six one, eight down here at fifty thousand uh, fifty thousand fifty one thousand dollars that was in september.
So i wan na talk about real, quick in regards to bitcoin how this move has been setting up for years and i wan na chart. I want to chart the all time high in 2013 to that bear market low in 2015.. I want to chart a fibonacci, a macro fibonacci heres, our bull market doors, all the way back here. This green rectangle bitcoin entering into the bull market in 2017, cruising on through to the 1618 line of that macro fibonacci, coming back down to touch the macro, fibonacci continuing to the bull market check this out – and i know ive talked about this before. But this is years in the making bull market high of 2017 to bear market low, bitcoin, breaking the bull market doors. Let me get my brush breaking the bull market doors here through the one six one, eight back down to the one six one, eight, the reason i want to bring this up and show this again is because i just wan na mention if and we got the Bounce we got the support that we were looking for when we kind of dropped right. We didnt just call the bear market right at that drop. We looked for one six, one eight support. We got it similar to what happened in the middle of the last bull market. Now this entire move boom boom is really a lot like this entire move boom boom 2017 to the 1618, but just like its taken longer, its been just a stretched out period of macro consolidation.
But if it is true that bitcoin is gon na see this bounce right here on the 160 continuation of the bull market, this means there could be a good amount of the bull market left for bitcoin. The reason why we need to be careful – and it this is years in the making everybody, because its years in the making, because this is all new data that has finally transpired its finally presented itself to us – and we can chart it – we can talk about it. The one six one, eight bounce, the the fact that were at a crucial fibonacci, which is the swing high, all time high to that bounce back to fibonacci resistance. That data point the fact that the 20 week moving average just tipped up away from the 50 week. Moving average thats something that didnt happen last time at the at the top right. The swing high bull market high the 20 week moving average fell below the 50 day moving average. Even in 2013, the 20 week moving average fell below the 50 week moving average. So this data point years in the making its all years in the making, but then we find out where we need to be careful. We need to be careful. This is it the daily chart on bitcoin and all we can do, and i dont want to keep repeating myself is just track it and wait. Theres been no real confirmation right now, bitcoin at the 786 line of the fibonacci.
Again, if you havent seen the fibonacci is the all time high that we had in april to that swing low in june, and its right back up to this area were waiting for bitcoin to break this area. Uh, we can talk about patterns all day long. We can talk about macro targets zoomed in targets, but for me, this entire area right now, where bitcoin is trading at, is so important. If we zoom in on the daily chart right here, you can actually notice bitcoin this green candle closed above that 786 line. Right here, then, it opened a daily candle and then we closed below in the fibonacci. Then we opened another candle slightly, closing above it and now were in another candle were opened above it but its its a red candle and were right at the 786 line. Right now, so its kind of like this next 24 hour period, again really important for bitcoin whats, going to happen on these bitcoin charts. Bitcoin is really dictating and its going to dictate the the move in general for crypto and a lot of people are waiting for the continuation of this bull market. And i want to say, because i kind of briefly kind of mentioned something similar in the beginning of the video. This could be like the most epic crypto bull move in history. It really could, if, if the data kind of presents itself and and repeats itself in that, were getting a similar one, six one eight bounce on a macro to continue a bull market.
If this is whats happening right now, this move really really could take. Take bitcoin and crypto to new heights and so thats. What im watching on bitcoin right now, its its literally there at the resistance area? Will it fail? We have to be very, very careful for failure, meaning were coming back down within the fibonacci. I mean this. This 618 down here all the way down in that 51 000 region, so be careful in that regard notice the 20 day moving average did cross above the 50 day right here, thats good. Maybe we get a move back down to the 51 000 area kind of bring these moving averages up a little bit into that area, getting support and then were continuing up. This could be a november bullish move that we have to wait for so thats bitcoin pivoting. Over to cardano cardano is cardano, is primed and ready if bitcoin is going to to do its thing, if bitcoin is going to make a power move and continue to all to new all time highs. Cardano, in my opinion, is, is so poised and ready its a top three crypto, but still has such such a big gap of market cap. Within that top three bitcoin ethereum cardano ecosystem. We can call it so theres a ton of market share in regards to to to market cap uh to be given to cardano. But besides that, we wait. We wait for bitcoin to do its thing.
Cardano as a technology cardano, fundamentally cordano from all different regards is, is so primed and not just from price, but just so primed in every key aspect. To continue succeeding. So when were looking at cardano charts were waiting on bitcoin, of course, to see what that kind of next macro move. Is bull market bear market stuff, but when were looking at it, we start digging apart. We start taking apart the data and im just noticing some things so when im looking at the weekly chart, theres so much to kind of break down in the weekly, but when i was sitting here watching these charts, i was looking at this consolidation above the 20 Week, moving average its something we we anticipated just pulled into the 20 week, moving average after orlando hard fork. The same thing happened after mary hard fork. Same thing happened after shelley hardfork getting pulled into the 20 week moving average. I always repeat myself, but its probably worth just repeating its its a part of the macro story, but the other thing i noticed was if youre looking at this consolidation and look at that sideways on the weekly. Its just like do something, and i see the frustration in the comments, but there was a similar consolidation back here, and this was all the way back in, like november 2020 december 2020, almost a year ago, cardano consolidating above the 20 week moving average kind of sideways. In in some regard at the time was in, like the 10 10 to 20 cent range uh so and by the way it was kind of already in that range prior in august of 2020 and now were in a similar area.
Cardano consolidating right above that 20 week, moving average for a month now we were already at this area in the two dollar range. We were at this area right back in like may, and if you look at the macro chart its a very, very similar move, even the rsi very similar in terms of like where it is on the chart, which is a good thing, because on the rsi, the Slower moving momentum, oscillator cordano has a lot of room for upside. Remember from this move back here, there was a lot of room for upside, ultimately, going from 15 cent range to what three dollar range, so in terms of just the upside potential for cardano its set its ready its there but bitcoin. We really have to keep an eye on. We really do at this point of the game were not at the beginning of a bull market, where its kind of a little bit more theres a little bit more freedom. I would say for altcoins to kind of just do something crazy out of nowhere. I think right now bitcoins kind of dictating a lot of a lot of sentiment right now across crypto markets, thats, not to say that that cardano wont move or cant without bitcoin. But i think its its a a wiser move to really really keenly watch the daily chart and this resistance area on bitcoin right now going over to the daily chart on cardano. These are just putting aside bitcoin some of the technical areas.
We want to continue watching. Ive already talked about it in the last video this 20 day. Moving average is probably the biggest concern right now for cardano and cordano is like right. There right now, its like 2.19 at the 20 day, moving average that green line. If you remember, we talked about theres a similar area where cordano was just kind of trading within the 20 day and the 50 day after getting the 20 day moving average cross below the 50 day moving average across and weve seen a recent similar move. I saw a comment i think, on that video somebody was just saying that moving averages, dont work, theres, no purpose in using them and to me thats, just not right like to me. Ive used moving averages for years in particular, especially that 50 day moving average ive used for years on this youtube channel. It is such a helpful illustration of the battle of the bulls and the bears in the simplest of terms if were walking through these crypto charts and were just trying to were trying to navigate and its getting a little messy. Its getting a little confusing were trying to figure out whats the next move, if theres something on these charts thats going to like kind of take our hand and guide us a little bit its the moving averages it gives it gives us an idea of the strength Of the bulls or the strength of the bears, and so we really want to see cardano diverge away from this entire move, which was failure at the 20 day moving average after kind of bouncing off the 50 day moving average and were in a really similar area.
50 day, moving average right here, it didnt break through that and now were testing the 20. Is it gon na fail and are we going to be pulled down even into the 200 day? Moving average remember, we have a target down into this area digging into the charts, because i know weve talked about that before heres, where we are on the on the six hour and besides tracking its all, i can do with you all im not going to sit Here and tell you whats going to happen because, im literally in your boat im watching im wondering the same thing. There are signs on the chart that say: wow, cardano cardano could explode at this point, and a big piece of that explosion is the trigger on the bitcoin chart, which is bitcoin getting separation from the 786 line. For me, its a big deal right now, uh. So if we can see bitcoin get separation and just move to the upside cardanos, so primed, because if were looking at this descending triangle, there has been no separation from the triangle. Theres been no kind of like crazy, just move out of the triangle, which is very commonplace. Its kind of just been a break above the triangle and then just trickling down. Whats good, though, is were at this upper trend line and weve kind of just been trending. A lot up and above the upper trend line now digging deeper into whats happening here, theres shorter term consolidation that we talked about.
So we know the target to the upside out of this triangle that we see here, you know, i think, is like the 290 to three dollar range breakout target to the upside. I think its like a dollar forty to the downside. We know the possibilities theyre there. If crypto crashes, we know where we know where cardano can go just be prepared for it. But beyond that, if were looking into these charts, we see. Cardano also has a smaller kind of symmetrical triangle that weve been tracking and really its just lower highs and right now higher lows – and you can even just see this previous swing or swing low right here is – is kind of on this mid term. Chart right here, short term chart its a higher low uh. This was a previous higher low, but still we havent broken below this low. This is the story for cordano its its all about consolidation right now and its being squeezed theres going to be a move, and what i mean by that is, if we look at even this swing high back in september to that swing, low right there cardano bouncing Off of what do you? What do you know whats? What a surprise, a fibonacci resistance back down right so from that fibonacci resistance right here to that swing, low, cardano? What a surprise coming back up bouncing off of fibonacci resistance right here, green green channel – and i should know even if you look at the swing load of that swing – high, look at cardano bouncing off of fibonacci support.
So you see the ping pong, you see the ping pong thing happening. This always happens with within these fibonaccis. Why? I talk about fibonacci all the time, because what were waiting for from is is a confirmation, a bullish or bearish confirmation, which would be from this previous swing high to this previous swing, low wed look for cardano to make a break through this new fibonacci resistance and Notice how theyre getting smaller, so this fibonacci resistance around 230 down to 225. so lets see – i mean cardano – is so close to a move like that. If were looking at price range wise from where cardano is its only around four percent move to the six one. Eight and its only around a six percent move to the seven eight six to test that area. What will happen? Will cardano just kind of come up fail and were putting in another fibonacci swing: low, a lower high im? Sorry, not a swing low, a lower high! So were failing here, lower high and then were like still consolidating all in the apex of really whats. What is a symmetrical triangle here, thats, what im waiting for and its its just like i debated doing a video tonight, i kind of wanted to wait for something more significant to happen on on bitcoin and cardano, but i just i figured its best to put the Data out there, so we can just continue tracking, because this is where this is.
What im watching for to the downside, to the downside, it is what it is everybody we have this upper trend line. Remember of this longer term descending triangle, so im just going to continue tracking to the downside, the entire apex of the triangle, its 100 in play anytime. We get a breakout of an upper trend line for that thing, bitcoin cordano, whatever to kind of just test the apex. We want to see what might happen a third, a third touch, the lower trend line, two dollar area. It could just happen so quick. It could happen in minutes. You all know that so thats to the downside, what ill be watching for, but again to the upside, an explosive move for cardano would start with confirmation move of 225 to 230 area thats the the newest lower high fibonacci resistance that i would look for. Cordano to break so this was a long video i did not expect. I did not anticipate doing such a long video. I hope you got some value out of it. Everybody i appreciate each and every one of you hit that subscribe.