So with that being said, of course, lets go ahead and lets get into todays video. So, first and foremost, i will go ahead and say that we are looking at the apex of this triangle being around december 5th, the very like last couple hours of december 5th. So, of course, being you know with that, we have about 72 hours before we are going to see a breakout to one side or another. Now, personally speaking, i believe we are going to see the breakout to the top side. That is what i think is going to happen. Of course, you can never be 100 sure you can never know for certain, but that is what i believe is going to happen now. The reason that i believe that is going to be for a few different reasons. First and foremost, being the fact that we started to correct the bearish divergence that we were seeing on the 4 hour charts. What i mean by that is, as we were, putting in these highs high number one and high number two. You can see that on our rsi we put in high number one and a lower high number two, while in the price it was a higher high number two. So what this is is bearish divergence. This means that the move to the upside that we saw here may have not been supported by extremely bullish momentum, and there definitely could be some type of pullback similar to what we saw.

Of course, now coming up off of high number two, we set a higher high on number three well from there on the rsi. We set actually a higher high number three. What this says is that we saw a correction of this divergence and it was confirmed by the fact that we actually put in a higher high on number three than we did on number one. And what that tells us is that we didnt see, bears divergence from two to three and we didnt see divergence from one to three. All of that to say that, even if we did see some type of retracement as we are seeing now, its not really being supported by some type of extremely bearish divergence. All of that to say that nothing is really forcing the price down. In terms of divergences. Now, not only that, though, we are seeing the opposite happening on the bottom side. Now, what i mean by that is at the moment we can see that we put in this low number one here. We have yet to really put in a you know a defined low number two. You know something in which we really turn the price back around, but what you can see is that were still extremely higher than low number one on this low number two. So this is two, this is one and low number two is again real higher than number one, but as we can see here on the rsi, we have come down to already set this lower low.

So what that tells me is that we are already starting to see some bullish divergence forming on the charts and unless the price comes, all the way down below low number, one which i dont think will happen, were likely going to see this bullish divergence play out, Which could very possibly push the price to the upside, so seeing the combination of those things as well as looking at the macd on the four hour charts. One thing we can see here is that we were looking to see some convergence, and it does seem as if we may be looking to. You know see that move to the um to the top side here, which our blue ema crosses through the orange and main, which would of course entail that we would be looking at maybe a swing in some bullish momentum. And if that was to happen, we could possibly see a bit of a reversal on the daily macd, which is looking quite bearish at the moment, okay, so, overall. What this all tells me is that there is a very strong chance that we do break out to the top side of this falling triangle here, especially considering the fact that falling triangles are inherently bullish patterns and we typically break to the top side. So all of that combined to say that i do believe were gon na see the break to the upside. Now, in the event in which we do see a break to the upside.

What i think we need to be paying attention to is a very, very key level of resistance and thats going to be five dollars. Personally speaking, i wouldnt be looking to buy any more mana until we clear five dollars and are able to hold above it now, of course reason number one being it is such a key level of resistance. As we can see, we failed to hold it at support here. We failed to hold it at support here and every time we failed to hold five dollars of support. It did lead to a fall like here and like here, as well as the fact that its our very last peak on our vp vr. So, all of that to say that theres, a good chance that we do break out to the top side run into some resistance here and get pushed back down for the time being. And i dont want to be buying right before were going to see some type of big reversal back to possibly even lower numbers id much rather be buying on the support establishment and in the clearing of a key level such as five dollars. Maybe even a support. Establishment at that level before we do continue upwards. So if we do see the breakout to the upside, be looking for five dollars, thats going to really be the big confirmation that we are still seeing a supported move to the upside. Now, if we do start to see the price making a move to the downside, i do believe that we would find support rather quickly.

Now this is within the realm of possibility. Of course, our macd does look bearish on the daily charts. This is not looking the best that you know. We definitely want to see a turnaround pretty soon here, and so we need to consider that this is within the realm of possibility. So if we are to see the breakout to the downside here right, if we start to see the price rolling back down, what i would go ahead and say, is there a very theres, a very, very strong likelihood that we do start to come back down towards Some of these key support levels at around three dollars and ninety cents and three dollars and fifty cents, and were going to use this as our support box. Okay. Now what this tells me is. I do believe that if we see the breakout to the downside, this is where were going. Okay were going to come down into this little area right here. So personally, if we do break to the downside, i wouldnt even be looking the dollar cost average in or do anything of that nature until we get towards. You know this 3.90 to 3.50 range thats, really the only time in which would be buying. At that point, we would start to see an interaction with our 200 day, our 200 ema on the 4 hour charts, as well as looking at the daily charts. We would also see that interaction with the 20 and likely this 50 ema as well, and all of that to say that there are so many key support levels in this area, especially being backed by our vp vr, having some key support levels here.

I do believe that that is where we would find some support before looking to continue to the upside, so, overall, that is exactly how id be playing this thing. Looking for the clearing of five dollars before i get too excited overall, we definitely want to see this bounce happen pretty soon. We can see some bearish crosses happening in the charts here, and so all of this to say were at a pretty strong moment where we need to see that bounce pretty quickly, and so with that being said, of course, i hope you guys did enjoy todays little Update, if you guys did, i know its a little bit shorter, but i think you guys enjoy these short updates. Definitely just let me know by smashing the like button thats. All i ask you dont have to subscribe. You dont have to sign up to the patreon. You dont have to do anything. I just ask that you hit the like button, so more content gets pushed out to even more people, and i appreciate each and every one of you for doing so. But with that being said, ill see you all very soon.

https://www.youtube.com/watch?v=YMVJl47b8ro