Some analysts believe the sixty thousand dollar price target will see large profit, taking and above that for bitcoins price yields, basically no resistance, but with cardano falling out of the number three spot and the range getting tighter and tighter is price about to get very, very interesting And with whales continuing to hold on to their gains, this is about to get very, very big im. Your host bean dip and bitcoin has defended the 54 000 levels, the last seven days in a row, but the big question now is: does bitcoin have the juice to unload all over the chest of the bears or are the bears preparing for a backdoor bullish? Surprise of their own, you should like subscribe turn this into these absolutely time. Sensitive alerts as well. If youre interested in joining our pool make sure to check out the two minute, video below and any other bonuses and any other bonuses make sure to check the pin comment below and without any further mugu lets hop on it. Big so were going to be jumping into both bitcoin and cardano price, because something very big in terms of caranos consolidation is very, very close. Ive never seen a more clear pattern here, but as well with bitcoin weve, actually now bounced off of 54 000 again for the seventh day in a row. As you can see, if we zoom in on this daily chart every single day, we have at least touched the very tippy top of this channel here right at about 54 000.

. So even late last night, bitcoin came right back down to about 54 000. So the question is: how likely is it that bitcoin could still see that move down to about 50 potentially 48k? However, what price would invalidate that? Well, so, if we start off here, we can take a look at some bullish opium. If you look at the charts, all we have to go off right now is the momentum thats being driven in the market, said erlam uh to yahoo finance? Today, you look at some of the shorter term charts and potentially were going to see a little bit of profit taking at the 60 000 level and 60 000 is big because above 60, 000 theres. Basically, no resistance weve been talking about this for weeks, but uh and thats. Why ive been saying for weeks that once we break, i said once we break 59 or 60 000? I think its very likely that we just blow past all time highs, even though thats still five thousand dollars less than the previous all time high. What ive been saying for weeks now is once we breach 59 and 60, then i think its very likely that we just blow up to new all time highs now keep in mind were not there yet. The other thing weve been saying on the charts for the past few weeks is that the 56 to 59 000 level for bitcoin is big resistance. Its the last level and as im recording were exactly right in the dead center of those two levels: 56 and 59.

Currently, right at about 57.5 and blasting past 59, and obviously we have to include 60 000, just an extra thousand dollars and its that giant big round psychological level as well so realistically, anywhere from 56 to 60k, is huge over the next one to two weeks. Its still very likely that we could get at least a retest of 50k if and only if, we do not concretely break 60 000, meaning if were able to break 60 000, and we see the type of blast off that. I think we will see. If we do breach 60 000 and im, not talking about like hitting 59 999.99 and then two seconds above 60k and then a sharp like 3000 rejection, im talking about breaching 60k and then seeing that momentum pick up because thats exactly what i think will happen. But there will probably be a few little knocks on the door of 60k first, especially at this point, 60k is, for all intents and purposes. It basically is the all time high. Even though technically 65.5 is the all time high uh, you can see why it would be fair to assume 60k. Is that real resistance? Okay, this is where we spent all that time trading. We had one little wick up to 65k for mere moments: uh so really. 60. 60K. Is that big big challenge? So the idea that we could be seeing bitcoin bringing in new territory and the excitement that generates on its own? I think its going to be enough.

Potentially, to see this rally continue, basically yeah i mean bitcoin does have a lot of momentum and, as ive been saying, you know as soon as we break 60, i think were going to be setting those new all time highs and again that could be happening very. Very soon, i think it will happen before this month is over. However, in the meantime, the big question is, you know: if we get up to 60k, will we face that rejection first, and could we see that big move down to 50 because again cards are not off the table? Uh, the entire video yesterday was talking about a one to two week horizon there. The good news is that i think that would be like the last bear trap, the last fake out before i think we will enter new, all time highs and again, ive gotten. So many and a lot of other people are getting this comment as well like. Why are alts not doing anything, its extremely simple and anybody thats kind of been around for the cycles when bitcoin really starts to move alt coins do not move in large part uh. All of that momentum, all of that capital, all that floods into bitcoin and then the big alt seasons that people talk about come afterwards. Okay, its what we saw at the beginning of the year, its what we saw back kind of in the middle of 2020 as well its what we saw back in 2017.

. It happens extremely consistently. So people leave a lot of comments like well. Should i sell my alts and get into bitcoin and then sell bitcoin and then switch into alts and try and catch that move uh? First of all, i could never answer that comment. So if youre leaving that comment im not gon na answer it, because one youre literally asking me for direct financial advice which uh i cannot do that. But if you think you have the capability of timing, something like that, because if theres one thing thats more consistent in crypto its that that bitcoin usually pumps, then it flows into alts, the bigger alts and then it flows into the smaller alts and then thats. How we see that whole blow off top play out towards the end of the cycle, so thats a very consistent pattern, its a very consistent thing. We see. So if you think you can time that then go ahead and try that in another news, bitcoin, while its holding between 100 and a thousand bitcoin, have added and continue to add to their balances uh towards the end of last month and theyve accumulated a total of This says 4.76 worth of bitcoin, but im assuming they mean 4.76 billion dollars worth of bitcoin. I think they might just have might have just left out a billion uh left a b out there. Whales have been accumulating and, as they continue to accumulate the amount of total circulating supply of bitcoin that they hold has also increased about.

One fifth of the total circulating supply belongs to wales and last night. This just covers the dip we saw last night to about 54 and its just talking about balancing back there, so uh, actually before we continue with bitcoin. I wanted to just cover ada really briefly here: uh ada has a massive floor support level right at about 150. Obviously, two dollars as well, which is where this entire descending triangle has been forming, and then one dollar which these are like the most flat, even basic support levels. You could really ask for a dollar a dollar fifty and two dollars, so i mean those are big round numbers. Just super easy and expected supports. I guess, but you can see over the past uh ever since the middle of august. So for the last two months, ada has found support at exactly two dollars, but you can see it has found resistance in a very diminishing uh in a declining way, which forms this descending triangle. So normally descending triangles break down here and, as you can see, theres really not a lot of time left. This pattern will end before this month ends. So this pattern comes to a conclusion before the end of this month and usually actually with these patterns, we actually see them break out before you get to the apex which is right about here, which would be on like uh november 1st or october 31st here. So this pattern is going to be breaking out, but i would not 100 say it would be breaking down.

All im saying is theres going to be a breakout, because this pattern has almost come to an end we have seen. In fact, we saw with bitcoin about a week ago, we saw bitcoin break up out of a descending triangle. We saw this exact type of pattern and these patterns do tend to shift a little bit more bullishly than normal during a bull market which i believe were in 100. So all that i gather from this is that were going to be seeing this move happen. I think uh within the next seven days within the next week. Again, i think theres amazing support right at a dollar fifty, but i also just think the two dollar mark is pretty well defended, not to mention a lot of ada is staked. A lot of people will not be selling it. I know i wont be selling my ada, so you know if we would get a massive move again. That is another, buy the dip opportunity there um, but for the most part, all i can see is that the clock is ticking for ada. The price has been extremely boring for now. Two months almost and uh yeah were gon na, be seeing a massive move there shortly, but more importantly, here with bitcoin uh the question i talked about the beginning, i kind of answered almost right away anyway, but yeah, i think, breaching above 60k, concretely breaking above 60k. So you know if we actually break 60k, actually just being able to hold there for multiple days cement 60k of support.

If that happens, then um, then i would say its very unlikely that we will get a retest of 50k or even below that. But again, all options are still open right now, its still just as possible, as it was yesterday that we see that move down a potential wick at the very lowest. I think down to the 48 to 50 000 region, but yeah with that being said, 54 has been holding really nicely underneath 54 theres really not too much support until the 50 000 range, so uh for the most part weve been holding at the first big support. We need to which is 54 but again, like i said, if we break 54, then i think its very likely that next target would be 50k and thats where we could maybe see a wick down to about 48. and, like i said, i only think that becomes Not possible at all if we can manage to hold a few days above 60 000 us dollars, because if we manage to do that, then theres basically nothing keeping bitcoin down and i think it could just go. It could start running again and it could start repeating exactly what weve seen multiple times throughout this bull cycle. Just you know completely straight up waves of bitcoin, and especially i mean, if you guys, look at all the the on chain, charts and all of the previous data comparing bitcoin this cycle to previous cycles were overdue, like we, we could start blasting up any second, and We would be right on time in fact, weve uh weve dumped a little too long, so even if we get a 50k retest or or a 48k retest, or something like that, youre not gon na have a lot of time to catch that.

I think. Okay, like i said, i think it would be like a wick or something very quick. I dont think were gon na spend any more than maybe like one two three days max anywhere near that this would not be a multi week thing whatsoever, so again, timing that is up to you, but as ive been saying, i personally think that we need to Get a move on, i think bitcoin is going to start going extremely vertical soon, and i think it has to start going extremely vertical very soon. You should usually like subscribe turn this.

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