THIS BITCOIN CHART JUST REVEALED THE NEXT BIG MOVE
You know sold into Bitcoin pumping the Bitcoin price, but there is actually something else here happening as well, which I need to talk about, because this is also one narrative that could prolong the rally were seeing right now, Im gon na go through the massive things happening. This week, which you need to be prepared for so, as you heard guys a lot of very important stuff to talk about so make sure to watch it from the beginning until the end, its all very relevant and key information. Welcome back everybody. My my name is Chris, bringing you cryptocurrency videos every day, teaching you how to make money in this market. If you are new to the channel, then make sure to subscribe and activate the Bell right now. Okay, lets get straight into it, guys on the four hourly time frame. What do we have? Well, we have continuation. Since my video yesterday, we were talking about the squeezing in between the edge of The Orange Box, the top of the orange box here, and this key level of resistance. Okay, so we are still consolidating in this area. This is a very, very small area. This is actually between 24 500 and 24 890., its a very small area of consolidation here on the four hourly time frame, and does this look like it wants to go higher or lower? Well, to be honest, guys as Ive been saying, this looks like it wants to go higher and if we can clear this area guys, then I am expecting a rather ferocious pump up to First 26 388 and are we able to were gon na? Have some drop drama here, but are we able to clear this Im expecting us to go up to 28 530 and at this point I do think were gon na see significant resistance.
So at this point I would probably take a stab at a short, its like small little short here, uh making profit on the pullback and then on the retest. We will take it from there, but first things. First, we still have to see if were able to break through this key level here at 24. 860.. This is a key level, so we keep an eye on that. But do we have some Clues as to what may happen here? Well, theres, two things I want to talk about. The first thing I want to talk about is this: so on The Daily time frame, you can see that we very clearly have this trend line right here. Okay, weve been hitting it multiple times on the daily time frame, all throughout um well since January 2023 and okay, if we zoom out here, I think – and you already know about this – Ive been talking about it for many times. I think that this was the bottom. I do not think that were gon na go lower than this week right here or this week right here, okay, so I think that this general area was actually the bottom for Bitcoin. So right here, so if we go back in history, can we see some similarities with this bottoming structure, having this consolidation at the bottom having weeks down and then having a big pump and having this trend line? Looking like this? Well, if we go back in this three, this was actually pointed out by Rover, my friend uh.
But if you go back in history to the bear Market of 2019, you can see a similar pattern. You see the consolidation at the bottom. Okay, you see a pump, see this pump right here very ferocious pump to the upside. You see this trend line right here. Okay, you see this trend line and then, finally, once we break that trend line, we do see significant pump from at this point. It was like 5900 up to nine thousand dollars, so its almost uh. What is that, like 80 75 percent, gain in just a few weeks here? So this is something to pay attention to. This is looking actually pretty similar to what youre, seeing right now pay attention to what you saw right there, a bottoming structure, trend line and then breakout of the trend line and if we go to where we are at right now, bottoming structure trend line, and can We break this to the upside. Are we going to see similar kind of gains? We will see about that guys, but this is on the daily time frame. So a lot of people are, you know, theyre, very cautious, right now or theyre very bullish, but nonetheless we do have this going for us, but theres something else on the horizon, and this is something Ive been talking about previously and Im. Of course, talking about the weekly death cross and if youve been watching my videos, you know how Ive been saying that the death cross in general, when you want to pay attention to it, is when you are trading into the death cross, okay, so the death cross.
You have right here on the weekly time frame. Is the uh 50 week moving average crossing the 200 week moving average from the upside through it to the downside, and just like, I said when you have trading into it. That typically, is when you want to pay attention. It could lead into some downside and a rejection, a heavy rejection of this level. So this is why Im still cautious, because now everything is looking like textbook death cross here and looking at the Golden Cross. So the opposite of death cross on the daily time frame. You can see that we had the Golden Cross right here on the day daily time frame. Uh we saw a dump after that, and then we saw immediately after a massive pump for Bitcoin. Of course, from 21 300 up to 25 200., so this was the Golden Cross for Bitcoin. But the question is: is the death cross now going to spoil the party for Bitcoin? We have never in bitcoins history, seen a death cross on the weekly time frame happen, but it has happened and we have textbook structure here with us trading into that pattern. Another thing I want to pay attention to is the 200 week moving average itself. This green line – you can see it acted as support right here, acted as support right here, acted as resistance right here, resistance and support, in fact, resistance, first and then support and right now we are trying to break through it so putting the death cross aside.
Even the 200 week, moving average is extremely significant for Bitcoin, so these are the kind of things you want to watch on the chart right now. You want to watch this fractal. Can we break through it have similar price action, as you saw in the bear Market of 2019? Is the death cross going to ruin the party? These are on a slightly different time frames? You do have the daily time frame right here and you have the weekly time frame on the one with the death cross. So remember the Golden Corrals. Actually so I dont want to complicate this too much but Im just gon na say at the point of the Golden Cross for Bitcoin we did see a dump and then we saw a significant pump. So could it be the case that were gon na see a similar thing with the death cross right here on the weekly time frame to have the price action go against the pattern, meaning go up just force to then start to roll over? Just like you did with the golden cross, we went down with the golden cross and then we started to go up. So maybe with the death cross, we go up and then we start to go down. So, as you know, Im prepared for volatility, guys Im expecting volatility, so we are of course prepared for every scenario. These are the things Im watching. I will keep be updated as usual, the traditional markets.
They are closed today, but this is also, of course, something we need to be on the lookout for they are closed tomorrow. Also extended U.S holiday, but on Tuesday were gon na see the effect of whatever happens with the traditional markets. Now there are other things to pay attention to guys, which I want to go over just a quick reminder. First, if you want to trade – and you want to claim the best deposit bonuses out – there make sure to claim up to thirty thousand dollars over on Bobbitt up to fifty thousand dollars on okx bit. Get eight thousand four hundred so make sure to take advantage of these offers. Now lets talk about this so busd. As you know, this has been going down the supply of PUSD. I am making the you know thesis that some of these funds were actually a lot of busd were traded for Bitcoin and then redeemed here. So you can see that the redemptions have basically sloped out here, youre, not seeing a bunch of busd being redeemed here. Um recently, but it could also be that its a holiday of course theyre most likely not going to have massive amount of redemptions during during the weekend, so were keeping an eye on this on Monday. Maybe youre gon na see this start to fall again, meaning people, whales, redeeming busd, for real dollars now something else I want to talk about as well. Well, the first thing is speaking of busd um.
The CSO of binance says that okay, so they dont have a partner for busd anymore, but they have significant interest from European Banks and Banks from the Middle East to start supplying them with banking services. So um yeah, Im hoping that they could get a banking partner. As soon as possible and other than that, we also have China starting to print money again. This is something that I was not super aware of, but it seems like China are actually ramping up their money. Printer, their money printer is going burst, so this is the chart you can see in February they printed a lot of money. Could this also be affecting the stock market crypto space and so on? Of course, it has some kind of effect on it. So I will keep an eye on this to see if they continue to print money here, guys something we need to be on the lookout for other than that on Wednesday you have the fomc minute fl1c minutes meeting, so thats going to be extremely important to watch What they say, the rhetoric, theyre using and so on and also you do have. Where is the job the inflation rate from Canada coming on Tuesday? So we will see, did the inflation go down? Did the inflation go up? We will see about that guys. So key things happening this week, guys were keeping an eye on all of these charts. We keep an eye on whats, going on with busd China and so on.