Up with it, in todays episode were going to look at something very interesting, thats happening on the bitcoin chart right now, which is really showing that something could be about to happen for bitcoin. So have you bought your bitcoin? Have you bought into other altcoins? Let me know down below if youve made the best of this dip, so without further ado, then lets jump into the charts for today, so guys, looking at this bitcoin chart, we can see something very interesting. I told you a few days ago to pay attention to these lines of resistance. Ultimately, when we have previous lines of resistance, they become support and previous lines of support become resistant. So what we can see is we had this previous line from the all time high that came down intersected with this point and then was broken through retested as resistance pushed back down. This is currently acting as resistance for bitcoin. So its going to be key to see whether were going to be able to break this. This other line as well was our previous line of support and has maintained itself as support, which is crucial to see for the bitcoin price. Okay, also, we can look at the fibonacci taking the fibonacci from the swing low to this swing. High up here, you can see that we came down perfectly weve had this previous line of support now. That, for me, is a good indicator that we could be looking at the bottom here, and you can see that we perfectly intersected between these two lines.

Okay, so were now into what looks like a broadening wedge and because this is descending broadening wedge will ultimately tend to signal that were gon na have a turnaround in the market. So what we could potentially see if were unable to break through here is another round down to these levels. But what we see here guys is this flat bottom, despite this wick here weve had this triple touch on the bottom here, which indicates to me that we could be looking at a bottom for the bitcoin price and the bottom. There was around forty thousand dollars, or just above forty thousand dollars if bitcoins able to break above this level at around forty two thousand five hundred dollars, which is really not far away at current prices, then in my opinion, were going to be pushing up towards this. Next level, previous support here at around the forty five thousand four hundred dollars now, obviously weve seen the rest of the crypto market absolutely tank when bitcoin goes down because obviously bitcoin has a huge market cap and when bitcoin struggles, the rest of the cryptos with smaller Market caps struggle much more aggressively and on the flip side of that, when bitcoin comes back, we see ethereum and the other cryptos, with smaller market caps, really making these huge gains back up. So, in my opinion personally ive been looking to buy into the old coins because thats, where i see the biggest gains coming back, if were about to have a bitcoin recovery, theres a lot of sentiment in the market.

A lot of fear right now about bitcoin. Look at youtube, go look at twitter and when you see all this fear guys, this is when we want to be capitalizing. This is what we want to be buying because by fear, sell greed. I cant emphasize that enough, not just celebrating when the prices are high but getting excited when they are low. Now, if were able to break out of this, then we could be seeing something very exciting for the bitcoin price. Now, what we do guys if were able to have a break and a turnaround here then well take from this swing high on the fibonacci. We drop it down to this swing low, and then we look for the 1.618. Now you can see. 1.618 is all the way up here at eighty seven thousand, two hundred and thirty nine dollars and you can see guys pretty much continuation of the trend and it would be looking fairly healthy. Obviously, you know when weve had these quiet periods, everyone gets a bit sad. Everyone salts a bit, but actually its not been that long in the grand scheme of things no need to stress about things guys ive been doing really well recently in this boring time with crypto in nfts and ive, been making really good money with with not much Initial investment, so if youre interested in that ill leave a link to an nft video that ive been using to flip and sell nfts for around 300 to a thousand dollars every single day, with very little research head over and check out that video ill leave.