Bitcoin is Getting Ready to Pump: Foundational Support and Oscillating Price Corridor. Recently, Bitcoin has exhibited robust vigor, hinting at a potential surge towards exhilarating heights.

This Bitcoin and Cryptocurrency trading analysis applies to various exchanges. Tackling questions like if Bitcoin can reach all-time ...

Bitcoin, the world's first decentralized digital currency, has taken the financial world by storm. With its revolutionary technology and potential for disrupting traditional financial systems, Bitcoin has become a hot topic of discussion among investors, tech enthusiasts, and economists alike. In this article, we will delve into the world of Bitcoin, analyse its current state in the cryptocurrency market, and provide valuable insights for those interested in this digital asset.

Are we still looking at Bitcoin continuing to rise up or is this going to be one of those situations where we head down to dumptown this is a really critical time in the market and what we've actually seen coming off the back of this ascending triangle which hasFailed we've actually moved to the downside is that Bitcoin has kind of shown itself that it wants to trade sideways for a little bit longer which you know to me is absolutely fine I was talking to you guys about how you know this could start looking a little bitHeavy but I don't necessarily think we're there yet and one of the key reasons for that is our key support indicators our one hour reaching moku Cloud isn't even close to the current price at the moment which means that you know we certainly could at the veryLeast trade sideways for a bit longer or even dip down until we find support for the first time with this indicator which really to me is an indication that we've got a little bit more time now if we go a little bit more aggressive onto theEMA ribbon we failed it but to me that's completely okay cuz again this is a 1H hour time frame if we zoom out a little bit further to the 4H hour time frame again same picture we still haven't even met our support areas yet so to me youKnow this is a really good called for bit of consolidation when we start to see that for example we're failing the 4our EMA ribbon right when it starts to look a little bit like this we're losing the spread you know the spread is like this you can clearly see each line overHere it's a little bit less clear when we start losing that spread and a couple other bits like that uh you know that's when you can start to expect that you know we're getting a bit too comfortable at this level and perhaps we have to dump a little bit lower but right nowThe spread is huge Bitcoin can drop down quite low and it would still be good and actually we can see that really clearly with the daily ichimoku Cloud because it's actually started to develop at a very very critical area it's actually a chart that I've shown you guys I thinkIn just the previous video yeah right here uh I was talking to you guys about this level smack bang at the $30,000 level if we go from our low down up to our high and we look at the Fibonacci retracement this does put our 618 level at exactly where our daily ichoku cloudIs starting to form which is really good news because what it means is that on these larger time frames we can tumble lower right into the end of November beginning of December and we're still probably going to have a good amount of Support over here uh which means thatWe're solid on the long term uh but then on the shortterm the midterm you know depending on what you want to call it we're also solid here I mean look at our support it's like exactly where you know we were previously finding tons and tons and tons of resistance I mean all theWay back to Mid 2022 uh and then throughout the course of 2023 as well this has been a critical area for the market as resistance and it is exactly where our support lines up on this shorter time frame then we dive in even closer and again we haven't even hitThis area of support yet so when we see these kind of formations showing up in the market one thing that that tells us extremely clearly is that we've got time we've got the ability to correct lower and things are still probably going to be okay just given where the market isSo I think that from that perspective we are looking pretty golden now one of the things that gets exciting from here is that the more we consolidate typically the more we can expect the market to rise up the next time and that's one of the key reasons that we saw such a bigBreakout in the first place again those of you that have been smashing up those likes stay subscribed to this YouTube channel getting the Bell icon check so that you stay up toate with all of this content CU it is super time sensitive you're all going to know that when weAre forming these longer periods of consolidation that is actually what gives us the ability to get the very very big breakouts you see when we don't get long periods of consolidation that does limit how high we can actually move uh you know and I'm very happy to tellYou guys that that factor probably isn't in play over here because we've had a really nice long period of consolidation so now you know I mean we look at this on the daily chart it's very clear uh you know I mean it it it it's been moreOr less a straight run and actually one one thing that's really interesting is if we do look at this daily candle which by the way we do still have 4 and a half hours left until it completes so you know it could still change but I thinkMore or less much of the I mean obviously most of the trading for today has already taken place so I don't know I'm not going to say that we're going to close here but look let's be honest it's kind of likely that that's going toHappen and one thing that we can see is I mean this has been a fairly sizable down day for Bitcoin from its high to its low we're down by 3% from candle open to close right now we're down by 1 and a half% and you I mean we haven'tSeen a candle this big in terms of red price action basically since here which was an entire two weeks ago and that's kind of surprising to think about you know like we haven't actually seen such a red candle for two weeks now especially considering the kind ofMarket that Bitcoin has been in I think that's one very clear indication that some sort of pullback would be very much warranted here and the forli dashboard has confirmed that for us we've been looking at this quite a bit over the last couple of days again and if we takeA look at the fear and greed Index right here we're still sitting very high at a reading of 71 so you know we're clearly quite bullish right now in terms of sentiment we've been watching the fear and greed index with the actual chart over here as well and if we go ahead andRefresh this page to get the most up to date in information over here and we take a look at this on the monthly uh you know I'm sorry just going back uh for the past month uh you know one thing that's very clear is we were kind ofStable around the mid you know just the neutral areas the high 40s low 50s now we're in firm greed territory so and again you know one of the other things that I made very clear to you guys is that the last time we had a reading thisHigh was back in November of 2021 again you're going to know all about this if you watch one of our recent YouTube videos here uh you know and and the last time you I mean this this was November 2021 this was the all-time high for Bitcoin so sentiment wise uh you knowVery very stretched out in terms of long and short ratio the way Traders are actually moving we're actually majority short on retail Traders and top Traders are still majority long so I've been majority long on this market for ages uh you know I mean you guys haveSeen how that's gone for me which is to say absolutely spectacularly you already know the deal ladies and gents so I'm super happy with that performance that is exactly what I want to be seeing uh you know when we've got the retail Traders flip-flopping like a bunch ofidiots and the top Traders staying you solid in their long positions um you know that's a good position to be in and one of the key reasons I really like this approach especially right now is that and actually one of the reasons I didn't take much profit I actually took profitLive on video with you guys a couple of days ago and you already know the deal I did of course do that on bybit which is linked in the description down below it's the first link down here uh you know I mean obviously this is this isThe place to be as a Trader you're getting up to $30,000 in completely free trading Capital just when you start trading using my link if it hasn't hit your account yet just give it a couple of days and it will arrive uh and that is free Trading Capital that you can useSo super super cool obviously this exchange and all the others in the description are not available all around the world so you got to check if your country allows them uh but if it is legal then definitely do check it out you're also going to be getting my freeTrading package here it's not free it's actually paid but you're going to get it for free just if you trade on bybit using my links to definitely go do go ahead and check that out but you know it's like I said uh you know one of theKey issues with this range if you're already in a position is that you want to take some profits obviously you're in a really really nice profit but then the problem is you can't really re-enter uh you know you what you don't want to do especially if you're already in aPosition is find yourself wondering okay I've taken profits I've closed my position but what do I do now because you know I mean there's no clear trade in the market right now I think a lot of the people that have been trading just over these last couple of days I don'tReally know what you could have done because the price didn't really move but it's it's quite dangerous to be kind of trading up here in my opinion because what you've got is you know hopefully a correction incoming and that would obviously be best right I mean if weKind of move down here and then come back up but we don't really know if that's going to happen the market is very you know strong right now so uh you know and we've seen why I mean you know the dollar has been doing whatever the dollar has been doing and and andBitcoin has been on phase you know when the dollar has been moving down the Bitcoin has been moving up when the dollar has been been moving up Bitcoin has been moving up so uh you know I mean bitcoin's definitely in a very very strong position right now even comparedTo you know indices like the S&P 500 I mean look at this we've finally dropped down to our key areas of of support right here which by the way this index is going to stop trading within the hour so again this is perhaps more or lessWhere it's going to stop here I mean if the S&P 500 loses this level it lights out until the next level as far as I see but we'll come back to this in just a minute make sure you smash up the likes if you are excited for that but what IAm seeing here uh you know is that if you do try to trade the upside then you're basically going long right into resistance which is stupid and if you try and trade the short side then you're standing in front of a train which you know really makes it kind of difficultAnd that's why uh you know I wasn't super keen on taking too much profits obviously like I said I did and I did that on video with you guys but you know it's not something that I would want to do too much of purely because you know I mean if we're notUh if we're if we're not in a Range where it's super easy to kind of see where I could reenter then that's going to become a little bit more dangerous for me so that is definitely something I'm keeping an eye out for uh you know like I said I'm looking for thoseBounces down at these levels I mean we've got you know really really solid old resistance here which hopefully will turn into new support uh you know so hopefully we kind of come down here catch a little bit of support and then continue to move up obviously the riskOf a deviation is still very possible perhaps down to levels like here even down to you know 28k don't be closed off to these ideas you know we could do something like this trade sideways for a little bit and then a quick spikee down and then we're back up you know this isVery very typical price action for Bitcoin everybody that's been going long perhaps over here because this is quite an obvious long place you're going to get stopped out and then the market is going to Rally higher you already know the deal you know a lot of people areMaking jokes like I know why $35,000 was the top it's because I bought over there you know this is this is an actual comment that I read on the YouTube channel a few days ago and it's funny but it's 100% true this is actually howThe market works and I was that guy for a really long time so I can definitely understand it uh you know and these are the kind of things that we don't want to fall VI victim to these are the kind of things that we want to make sure thatWe're actually protecting ourselves from which of course we can do through the use of really really good analysis so uh this is something that I'm definitely liking the look of I think that it puts Bitcoin in a strong position so far if we end up trading sideways for uh youKnow a little bit longer then you know basically what we're going to end up doing is uh is hopefully continuing to form this uh where's my tool right here this really nice kind of parallel channel that Bitcoin might be trying to trade in and again uh you know when weKind of move up into these patterns and then trade sideways again you you know the deal we've got two forms of Correction number one is a price based correction so that just means the market drops number two is a Time based correction and you know a lot of theTime we kind of combine the two right now we're only doing the time based correction uh you know and what that would mean is purely that you know I mean we we're just we're just trading sideways you know we're just we're just correcting through time uh you know itBecomes frustrating for people this is the kind of thing that can dwindle down the fear and greed index which happened a little bit but obviously people are still quite bullish so uh you know this might take a little bit more and it might very well be the case that thesePeople going short are going to going to make a little bit of money uh you know but uh again I think that uh you know retail Traders don't typically do particularly well uh and that is one of the reasons that I'm still open to theUpside it's why this is kind of like a range of ambiguity what I can say for sure is that you know now that we've kind of proven that you know Bitcoin does want to trade sideways a little bit more than continuing the trend uh you know we areStarting to develop some pretty clear ranges for potential trade setups uh you know basically the top of this pattern let me just change the colors here CU I don't think that this is uh super clear we're going to use a little bit of blue this time we haven't used blue for aWhile uh you know and and so basically the bottom of this range 33.6 up to the top of this range 34 point I'm sorry 34.8 34.9 these are you know a good set of ranges you know to potentially pick up some day trades not to say that IWould do this I think this is way too risky but you know kind of long on the on the bottom short on the top kind of thing uh you know you've got a nice little range here it's about 3 and a half% I mean you know when you've gotFree money that these exchanges are throwing at you then you know like why not right I mean I'm not say it's the kind of trade I would take certainly not something that I would uh you know be be jumping at it's just too short of a time frame for me personallyTo trade uh you know but again if I had this free money which I don't have unfortunately because I've already got my accounts on these exchanges uh then uh then I would certainly be chucking these uh you know in directions like this because they're good healthy tradesTo be taking ultimately overall I mean you know these are better than most trade setups that people look for you know nice little 3.5% range you know slap a bit at you know 10x leverage on there stop loss you know probably below these Wicks so this would be a 27% stopLoss minus 2.7 % uh you know and actually know it would be less than that it would be about 22% so pretty decent risk to reward I mean you know you're risking like uh $1 for every $150 that you could make roughly I mean my math isn't great on that we can actuallyCalculate this and and and see what that would actually look like cuz I'm curious because this is the kind of trade setup that uh that definitely is feasible I think in a market condition like this so you know I mean yeah we've got a 1.64 risk reward it's not amazing you want toGo for like three and above ideally but uh you know when you're day trading you just kind of take what you get uh you know so this is something that I think is definit interesting and the altcoins are also looking interesting we're finally starting to see a little bitMore red obviously my little baby Tron over here is still doing absolutely fantastic I'm still very close to 200% profit on that position I have considered closing it but I do think I'm going to make some more money on it ethereum against Bitcoin you know justRanging now and and I think this is what the markets are doing is they're just kind of correcting there have been a lot of big movements in the market recently and you know we can see this with bitcoin's dominance I mean you know we were moving up very very very very veryAggressively but now we're just kind of sideways so things are cooling off and what that means is that we're getting ready for the next move uh you know this is the kind of time where people that have been like looking for the next trade that have been looking to kind ofSee where they can position their Capital uh you know this is the kind of time where if you stop paying attention now then good luck to you bro uh you know that's really not where you want to be let me just see if I can change theColors here cuz uh yeah I want to make this nice and blue here uh you know and so this is the kind of uh trade setup that I think could end up being interesting for me though like I said it's a little bit too risky I'm lookingTo see if Bitcoin can move down start lining up with some of these uh you know really nice fibon a levels with some of the existing indicators that we've got providing a little bit of support but really until that happens I think thatWe are kind of in a bit of a No Man's Land a bit of a you know um DMZ demilitarized zone uh not DMZ because obviously we speak The King's English and uh and so that's looking good I do want to take your eyes over to the S&P500 and talk about this I think that this is actually going to start looking pretty hopefully pretty pretty bullish from here I mean it's seen a steep drop I mean this is the biggest drop that the S&P 500 has experienced now since it kicked off this run if we actually IMean from this low right here uh if we actually measure the corrections that the S&P 500 had the first major correction was here this was an 8% drop again over here we saw something similar about a 9% drop from this high to the current low uh this is a 10% drop now soIt's still not like massive massive but uh it is going to be bigger than some of the drops that we saw previously and it's also taking place across a long period of time I mean the S&P 500 more or less Bon Me has been in a weakPosition for 91 days now compared to you know some of these other bits of price action we saw here before that's a 40-day correction over here that's a 21-day correction so uh this is definitely a longer term correction uh it's definitely a steeper correction andAll of that is due because you know we more or less had a straight rally with no price based correction only a Time based correction here more or less have had a straight rally right from this low to the top uh for 135 days so that's youKnow you know pushing four months here uh you know very long time actually more than four months pushing 5 months here um you know definitely a clear indication that you know some sort of bigger pullback was due and this was an idea that we were toying around with butThe good news now is that we have fallen down to this really useful area of support if we take a look at this on the 1 hour time frame we can see that this was a level where just the first time the S&P 500 ever met this level we gotSome key consolidation some key support hits a little bit of resistance moving forward we had even more support we had even more resistance more consolidation more resistance resistance and now uh we are potentially starting to find a little bit of support in this range youKnow I might have to cheat a little bit and uh and bring this box a little bit lower just to cover some more of the uh of the price range but you know it really doesn't matter matter uh the overall point is that you know we areKind of in a support zone right now if there's anywhere that we're going to be expecting a bounce it's probably around about around here um you know it's probably going to depend a little bit on you know the news that we're seeing with the S&P 500 why exactly it is droppingDown but to be honest it is looking pretty good I mean you know we put the uh the same long R long short ratio tool on this and uh you know for me I'd probably be looking at a stop loss somewhere around here at about kind of40 uh 4,100 uh you know this is below a lot of the the key uh price here still not super safe I mean this would be even safer just a little bit lower 2 and a half% and the upside on this is really good I mean the next key resistance forThe S&P 500 is going to be about 4 and a half% higher so already we've got a 1.8 risk to reward ratio but if I do stretch this up to a more aggressive trade uh you know with a stop loss over here this is still a three and a half risk rewardRatio so this is actually a really nice trade set up much better than what I'm seeing on bitcoin and of course uh this Market is actually tradeable on bingx if we go ahead and take a look at bingx uh with this link in the description downBelow I really hope it works because uh I don't know why but for some reason it just doesn't display these markets uh that you can trade sometimes uh this is actually the signup page let me go back here look at that you're getting over $100,000 in bonuses just absolutelyCrazy ladies and gents super super cool uh if we do head on over to the markets you can see uh I don't know if this is going to show on my screen yeah it will uh you know that we have got uh where is it yeah not not showing uh I've got toGo to the actual markets tab here I think I'm not logged in so I can't actually yeah here we go SPX uh is it going to show up no it's not going to show up I don't know why you make me look like a idiot bX stop doing this um yeah we'll see it here we see I I want to actually show you this cuz it happens quite regularly that I try and show you this and it just doesn't show up I'm like oh okay that's awkward look at that I can't make itWork we're in this oh we're in the we're in the spot that's why one sec one sec right here derivatives and this should be it I'm going to show it to you today I don't care you're patient with me today do we have it hereNo okay um maybe not yeah I just can't seem to bring it up it's there when you log in uh it's it's just not here when Sammy wants to show it to you for some reason uh I don't know why but uh yeah go check it out it's there uh it's theIt's the main reason that I like him and uh and it's where I'd be looking to make this trade when I end up making the trade and I'm in a profit you'll see it and uh and and and that will be the uh the case done with so uh you know that'sSomething which I'm definitely uh you know interested in looking at because it's a nice little risk to reward ratio trade here you know Bitcoin and the rest of the crypto Market just doesn't look super tradeable to me right now but the S&P 500 is at a crucial resistance I'mSorry reversal zones so you know these kind of reversal zones are where you know you have the most potential to make money so uh this is the kind of thing that does look interesting to me I do want to take a quick look at some of theKey altcoins that I like to pay attention to Pepe has just skyrocketed higher it's definitely going to be reaching some important zones relatively soon uh you know a big rally like this can't last forever and I think if Bitcoin does does end up correcting the good thing about Pepe right here is thatIt doesn't really have any clear range between this green box and this green box down here so I think it's quite fair to say that we could just kind of tumble right back down over here which would make for a really nice short uh you knowDown to this level that's a 30% move from the high and down from where we are right now it's still you know nearly a 30% move and uh you know even uh better than that if you believe that this Market is going to be bullish then you might be expecting a support bounceAround here whether it's at the uh the yellow line over here or the green box over here uh you know and again we just be targeting the same high so this is like a 50% move to the upside again leverage you know I would probably be looking at much lower leverage for thisKind of coin because it's just so crazy but uh you know even a 5x you know kind of Leverage trade off this level is a 250% profit so uh that is super cool obviously that is going to be tradeable on buy bit for you guys as well and uhOn coin W again you get that $50 bonus for free so that's just free trading Capital that they give you right when you open a Futures account that's going to come 24 hours after you open your futures account using my link down below so uh you do have to wait one day andYou will get emailed when it's in your account so definitely do check that out that's free money again do whatever you like with it any profits you generate are yours to keep so that is super super cool but for that I am going to be heading off on this YouTube video here aNice little quick one guys uh you know like I said if if there's not a whole lot going on we don't need to read into it go live your life go walk your dog do whatever you like uh don't stress yourself out about these markets we've got our levels defin weKnow what to look for if we break higher we know where our next areas of resistance are we've already been covering that on this YouTube channel in uh most of our recent videos as well um are we moving down right now as I speak I don't think so no we're not uh youKnow the next key resistance levels that I'm seeing are going to be uh more or less just anywhere in this box but specifically the $ 38,000 level uh represented by this green line 37.5 same thing you know these are going to be you know if Bitcoin does pop probably whereI'd expect Bitcoin to face some challenges maybe retrace and then continue on higher uh you know so so that's what we're looking for right now we're sideways not a whole lot we can do I'm going to be watching to see how this consolidation moves and if we start toSee that this consolidation continues to look healthy then you know this might actually be a nice level to look for some long it would be fairly risky but like I said again I mean the risk reward isn't that bad so uh you know it's definitely still something that might be worthConsidering I'm just going to have to watch this to see if I feel safe in that kind of trade uh you know obviously keeping in mind what's going on with the dollar as well I mean the fact that Bitcoin has been responding so well regardless where the dollar is is aReally really good sign that's making me optimistic uh you know and especially like I said if we do start seeing the dollar dropping that's where I think even more strength could coming for Bitcoin it does right now look pretty strong it looks like it could be doingSomething a little bit like this so we'll see how this goes I was telling you that you know usually when you do this you do end up kind of rolling lower but that didn't end up happening on this occasion so we're just going to continueTo watch this and see how this plays out if it moves up or down if it does start moving up uh it's it's got a big it's got a big leg up next so uh you know this is this is going to get pretty strong for the dollar obviously whatThis means is that really just the other real world currencies uh you know are going to be getting weaker for example GBP against the dollar has been declining uh you know so so that's obviously going to be a result of the dollar getting a little bit strongerWe're seeing the do um dollar and Euro going down to parity as well so uh these are a couple things to be keeping an eye on uh they do affect the crypto markets not super directly but the effect is definitely still there so we're going toBe keeping an eye on this you already subscribed so you don't need to worry about it I'll be right here when the market does give us something interesting uh while we're waiting for that go ahead and check out these bonuses if you haven't already taken advantage of them they are super superValuable you're going to get up to 50% off on VIP as well by following these steps on screen right here uh and obviously with the exchanges like I said you got to make sure that you're allowed to use them because you're going to be IP blocked anyway so don't waste yourTime uh with that guys really hope you have enjoyed this one you know what to do H up the like subscribe take the bell and I'm going to go rage at Bing X for not showing those markets uh and and only showing it when we uh when weLog out I'm sorry when we log in but uh yeah whatever we'll we'll sort that out all right guys take it easy cheers

We're going to be taking a look at this really interesting fractal where the last time we actually pulled this off Bitcoin pumped up by 600% that's a seven times gain absolutely crazy stuff but before we get onto all of that let's dive into the short-term chart this is my favoriteType of analysis to do with you guys and what we've seen is that $35,000 has acted as our key resistance level since we got this massive blast off that we were already expecting right here on this YouTube Channel smash those like buttons up as you come into thisVideo if you are excited for the rest of these moves in this market cuz we have been so on point with the analysis here we've seen one two and three rejections here within a relatively short space of time only within within two days here which is absolutely fantastic becauseThat does do a lot to tell us just how bullish The Stance is in the market and what we've actually done as a result of that is we' started to form a few ascending triangle patterns okay if we take a look at this a little bit moreZoomed in for example right here on the 15minute time frame and we are zooming in just because you know this is to kind of demonstrate some some things to you but also because the price action has been very aggressive what's very clear is that we are starting to see anAscending triangle forming right here on the chart and that's not particularly surprising because if we take a look at not this chart but this chart right here uh we've actually already pulled off a nice few breakouts from ascending triangles this is just going back overThe last few days back to October 20 So within this same month just going back like 5 days we've already broken out of a couple of ascending triangles and we're now just I mean depending on how you draw this we're already breaking out of the next one right now which isAbsolutely fantastic and what makes this really nice is that this is going to start giving us some uh interesting speculative targets again this is going to depend on how you draw them but if we do take a look at this chart right here we can see that the ascending triangleSpans roughly a 4.6% range so not huge but definitely not tiny either uh and if we do manage to get the same kind of breakout that does give us a target of $36,000 but let's break down how Bitcoin can actually get there you know one ofThe key things that I like to look at when the markets are moving like this is the first thing I want to acknowledge is that look I've already covered this with you Bitcoin with this big move up did not establish any resistance that is very very clear you can see this superSuper clearly we just shut up and that was it in fact we can go onto the 5 minute time frame to really try and get granular with it and we can't I mean if you look at the actual runup right here most of it happened on one five minuteCandle and you know that's going to be down to a couple different things you can call it Mar Market manipulation you can call it bot trading action and you can call it's shorts covering shorts closing up okay cuz when you're in a position that's actively selling BitcoinWhich we know that the majority of binance Traders have been on if we take a look at the for fli dashboard here uh we've known this for quite some time now that uh well not for quite some time but for a good amount of days now that binance Traders especially on retailSide have been way more bearish than they've been bullish and so when you start to get these short positions closing up the only way you can close an active selling position is to buy those Bitcoins back okay and if you have to buy the Bitcoins back that means you gotTo buy the Bitcoins that are on offer to sell and if there are no Bitcoins on offer to sell I if there's very little Supply and a lot of demand very quickly because you got to close those positions because your stop losses are being hit or you're getting liquidated and so onSo forth well then uh and and there's nothing to sell well then you're just going to push that auto book higher and that's why we see these big candles so it could be for a range of different reasons including the ones that I've just described and some others and IDon't want to you know kind of guess which one it was honestly it's usually just a combination of all of them and a lot of fear of missing out as well so just all of these factors making this go crazy and it makes a lot ofSense I mean this was a crazy candle okay from more or less from the low to the high it managed to move up by 8% within 5 minutes and even less than that I mean we can dive into the one minute time frame it's it's really not important but the reason that I'mBringing this up to you guys the reason that I'm really uh drawing your attention to this in particular look this was all in a one minute basically you know just just across one or two minutes here that we actually pulled off this move the reason that I'm drawingAll of this spe specific stuff to your attention ladies and gents is because when you've broken out of an area of incredibly low volatility like we had for basically 200 days within this sideways range trading between this yellow line here and this yellow line here 25 and 31k when you've kind ofBroken out of a pattern like that and you know you've broken out so explosively l oh my God I can't speak so explosively like this this is where you're actually going to be starting to expect some uh you know much some much more volatility to kind of be in theMarket around over here and I think that would be very reasonable to expect as well uh because when you've got that kind of breakout you're basically leaving an area of low volatility and entering an area of high volatility so typically it's not always the case but typicallyWhen that happens we are expecting a lot more volatility to follow through in the near term and obviously what that translates to as Traders is a lot more trading opportunities now obviously we've seen Bitcoin dominance continuing to rise up it's again at a high and again to put this in perspectiveBitcoin's dominance has not been this high for 922 days we're going all the way back to 202 in fact uh you know if we do take a look at bitcoin's actual price action here the last time that Bitcoin even saw these kind of price levels was back here in May of 2022 soThat's well over a year ago now pushing a year and a half next month uh that is 530 days ago that we were actually at these kind of price levels before uh and if we manage to kind of start getting a little bit higher uh you know we'reGoing to start to reclaim some really important levels we can actually take a look at this on the BLX chart to help put this into perspective cuz it's actually quite crazy to be honest if you do try and look at things that I'm about to show you this is going to change yourPerspective of the market because what we've got with some of these key ranges right here are really really important levels that Bitcoin hasn't quite been able to uh trade up to with any weekly close since 2021 uh and that's a really really big deal you know we we did comeDown here with Wicks and with one big crash down here but in terms of actual kind of consolidation or anything that's a little bit more significant across time Bitcoin really only hung around this level back in 2021 so you can really start to see that we are uh in inQuite a you know powerful place right now I mean it's a Wednesday we got this pump on the Monday obviously or maybe even on the Sunday I can't remember now let's actually take a look at when that pump did happen here this was on the Monday on the on the weekly open soWe've still got four days to mess this up and retrace back down you know let's not act like Bitcoin is poised to actually go up we could certainly just you know fart and just drop back down uh you know but let's uh you know let's let's continue here cuz I don'tNecessarily think that's actually going to be what we see here uh you know but what I think is definitely quite interesting here is uh you know the factors at play with these uh resistance levels that are up ahead and uh and and you know one thing that I think isReally important to note now is because of that kind of high volatility that I'm expecting now uh you know I think it is fair to say that these moves could start coming a little bit faster and we can already start start to see that manifesting if we take a look at the uh1H hour EMA ribbon for example it's it's just been gorgeous just absolutely gorgeous ladies and gents literally since before we actually got the breakout above $30,000 ever since uh look at this guys it's beautiful ever since we got a spread on the EMA ribbon way back down here this is 10Whole days ago but only 10 days ago really quite impressive price action 10 days ago we were at $27,000 10 days later we're at 34,000 35,000 that's a that's a huge $7,000 increase really we haven't seen volatility like this on bitcoin for a very long time and againLike I said what this means is trading opportunities if you want to be able to trade the markets where I'm trading them where I've been able to pull off profits way bigger than this I actually showed it to you on video uh just a couple ofDays ago where are my positions are at the amount of ridiculous gains that I've seen in this market uh you know I have been pulling these gains on the buybits exchange and that is linked right here down below where you can actually get up to $30,000 completelyFree of charge to trade with all you've got to do is start trading using my link in the description down below take a look at this guys I want to show you where these positions are at here is my Bitcoin position right there at 600% profit looking absolutely beautifulAnd my Tron position has also crossed above 200% profit there so uh beautiful beautiful gains right here in this market you can check out the exchanges I'm using linked down below coin W is giving you a $50 free trading bonus when you just open a Futures account using myLink and I spoke to them again and that is going to come to you within 24 hours of opening your futures account so they have to do it manually this is a very rare offer they don't actually do this often that's why it's been really hardFor me to make sure that you guys get it quickly but I've been able to convince them to make it a 24-hour turnaround so definitely check it out using that link in the description that's just free money you don't need to make a deposit or do anything at all and that is freeMoney for you to trade with and any profits that you generate are yours to withdraw trade the free money guys it's not going to last forever uh super super cool offer Bing X obviously traditional Finance super super cool exchange as well but this 1our EMA ribbon is potentially cooler than all ofThat it's not uh but what we've got here is ever since we got that spread look at these bounces that we've been getting into the EMA ribbon and then out in and then out in and then out in a little bit deeper but then out just touching it andOut absolutely beautiful and what this is showing us is that the market is responding incredibly well to these short time frame 1 hour moves in the market which is huge this is a strong indication of exactly what I was talking to you guys a couple minutes ago aboutWhere I was saying that we we are now potentially in this kind of range of high volatility coming out of low volatility and this is proven by the fact that we're so responsive to quite frankly a very aggressive indicator the EM is a very aggressive indicor here onA very aggressive time frame the 1 hour time frame is generally the lowest time frame that I ever analyze with you guys and even that is perhaps a little bit too aggressive so I think that this does put Bitcoin in a really interesting position the 4-Hour EMA ribbon is onlyPotentially like a day away really two days away from catching up to where Bitcoin is now as well uh which does put it in a really interesting position where like even if it drops we are still looking at a really nice situation right here in the market but one of the thingsThat I think is actually quite compelling for Bitcoin is the bare case you see if if you are a little bit weary a little bit worried of where Bitcoin might go by the way this chart was from my most recent video I actually just made a video for you guys talking aboutThe potential for Bitcoin being in a bull trap go check that out it is a really good video uh right here biggest Bitcoin bull trrap ever uh obviously the titles are always quite explosive you know the game uh but the content is obviously what you guys are coming forUh and this was a really really good video we were talking about the possibilities of Bitcoin being in a bull trap pattern right now and the potential disasters that could come as a result of it uh and most importantly why I don't think that's what we're in uh butNonetheless I'm still going to uh exercise my brain by considering these uh hypotheses and uh you know if we take a look at this nice little Fibonacci retracement here coming from basically when the market started getting crazy right off this low just to help you put this in perspective so you canUnderstand what we're looking at we're looking at uh what is it this low over here this is where things really started to kick off for Bitcoin we got this really nice big 32% move within two weeks weeks basically uh even less than that actually uh you know so so thisFibonacci really helps to uh show us where a potential bounce zone could be and it does line up perfectly with this $30,000 psychological area of support which we know is so so valuable but it also lines up with pre-existing horizontal resistance which now we're hopefully going to see turning intoSupport so that's what we call an Sr flip support resistance flip uh you know hopefully we're going to be getting that Sr flip down there if we do end up folding down there and of course it also lines up with that holy 618 Fibonacci level so uh that is absolutely fantasticThat's exactly what we want to see and that tells us that if the market does start to drop down in a slightly more aggressive manner than perhaps what you know might be comfortable because this is an a 14% drop which you know is going to feel a little bit uncomfortable thenActually that's going to put Bitcoin in a really good place and I think it's really important to discuss this because the sentiment level in this market is too high right now uh you know to to to to help you put this in perspective umYou know we are at a reading of 72 right now and the last time that we saw a reading this High look yesterday was 66 we're shooting up look at this we haven't seen this kind of increase in a long time the last time that we saw aReading this High let's actually trace this back was in 2021 and in 2021 November so you know we're like 5 days away from November right now as it is and that means that we haven't been this high in terms of sentiment for 2 yearsNot one year not a year and a half two years and absolutely massive time frame that we haven't seen sentiment this high and I want to highlight for you where we actually saw the sentiment this High uh because this is where it's actually going to start toBecome a little bit concerning I've actually drawn this on a chart for you ladies and gents right here you absolutely beautiful Legends take a look at this this arrow that I've drawn for you guys was the last time that bitcoin's sentiment index was this highThis is a warning ladies and J now look don't get me wrong I've made more money than most people in this market off this move I've been long since the B uh you know and I've been long on an altcoin too just to prove to you thatThis ain't no fluke ladies and gents your boys out here pulling these gains in showing the VIP members how I'm doing it in real time links in the description you already know the deal but all the while I'm staying extremely critically aware of where this could go wrong andWhere things have gone wrong in the past with the same setups I do think Bitcoin is in a strong place right now but let's not ignore the facts we've we're facing a massive weekly ichimoku cloud and we're facing the exact same sentiment level that Bitcoin had when BitcoinTriggered that big crash that put us into the crypto Abyss to quote crypto Kirby where the are you crypto Kirby please come back we miss you so much um and and and so with this sentiment reading right here uh you know I I I think that this is a really reallyStrong indication that things are starting to become quite exuberant now does that mean Bitcoin has to stop no it does not mean Bitcoin has to stop it does not mean that Bitcoin has to stop moving up and that we have to start reversing right now but it definitelyMeans that this is where you do not buy into the caution this is where you do not start riding that bandwagon and getting in a Circle and patting each other on the back and acting like we're all going to make it and you know scheduling your yach parties in MiamiAnd Sant Trope and stuff like that we're not there yet ladies and gents and the more you see people moving towards that sentiment the more weary you better become if you don't you will be one of the losers don't be one of the losers stay with me right here uh we'llKeep making money in this market and we let the other people do the losing for us uh you know this is very very important so if we do start to get that kind of pullback that is going to put us in a really good place but right now isBitcoin showing any signs of pulling that off not really uh if we take a look at this on the 4-Hour time frame with our ichimoku Cloud we do have some beautiful support right here lining up with our pre-existing yellow line it's actually placed very well because uh this yellow line does represent that31.5k resistance area which is more or less where Bitcoin was facing resistance throughout the course of 2023 uh and of course this level level has been critical going all the way back to 2022 where we actually also saw these beautiful rejections right here nice andClean for the market and we can go even further uh we've seen some uh important consolidation sitting at this level we've seen a good number of Fairly significant reversals along this 31.5k line within this rough range and we can go even further and we've still got bounces coming off this line back inEarly 2021 we've got a little bit of consolidation a big reversal here this was a huge reversal right off the alltime high so definitely critical moves here I mean look I I don't need to keep on trying to prove this to you and I can't because that was all the priceHistory but this is a really really important area on the market so getting a retest down here would be huge and again this does line up more or less with that ichimoku cloud if we I'm sorry with that Fibonacci retracement we've got the Fibonacci retracement up here at about uh$30,000 and we've got the green line sitting at$ 31,500 and the ichimoku stretching all the way down to 30.8 so it's all the same rough range looking something a little bit like this it's a big box don't get me wrong you know it's it's hard to be exact it's hard to giveYou uh exact kind of ranges in this market right now but this is more or less what I think would be a beautiful strong bounce zone for Bitcoin and I'm not just pulling this out of my ass if we stretch this back this is exactly where Bitcoin was Finding majorResistance again like I said and major support we can we can do this exercise all day ladies and gents I mean what's extremely clear without any shadow of a doubt is that this level is critical for the market again let's just zoom out and and really stretch this area back I meanYou can really start to gain a sense of appreciation now for how important this area of support would be and it does line up with that 4our ichim moou cloud of supports as well so what's really useful here is this is telling us that even if things start getting bad forBitcoin they're actually really really good moving on where are the momentum indicators for the 4-Hour time frame again you know they are sitting anywhere between 30,000 and 32 33,000 now which is good it's a nice big cushion for Bitcoin to enjoy uh you know and if weDo take a look at some of the other uh you know kind of short-term moves that could be coming off here I think that yeah you know this ascending triangle is going to put us firmly if we do manage to get that breakout uh up in this niceBig green box that stretches between 35 and 38 why have I drawn these two levels well you would know that if you watch one of our recent videos so make sure that you are subscribed all of these videos are so so important by the way just I mean we've been pumping out soMany videos just in the last day really there's been four videos and if you missed any of these you must go back and watch them this one is the least important video cuz this was actually right before the breakout uh this video was made on the breakout so just watchThese last three if you've missed them I'm talking about different things in each video you must watch them really really important context and again do make sure that you've actually checked that Bell icon because that's going to be how you can guarantee uh that you get notified for these videos of course youNeed to turn your notification on on YouTube as well though uh and so yeah if we do come back to the market here and look at these two horizontal lines why have I drawn them here again I mean these are just the strong kind of reversal levels that Bitcoin has beenExperiencing the strong strong reversal levels that Bitcoin has been getting some uh you know rejections at some support at Big pivot Points in the market uh you know and this whole range just has a lot of consolidation I mean if we throw the vpvr indicator on rightHere and take a look at the visualization of where these key levels are in the market uh you know we are starting to see a nice buildup of volume right here and actually even a little bit higher because this is where we did manage to get some more consolidationAnd perhaps importantly some more reversal action as well uh what's very clear and we knew this already was that the price Gap that we jumped was the least resistance that Bitcoin would be facing so uh you know this is coming as no surprise there was a huge huge amountOf um I know you can't really see this but you don't need to it's okay there was a huge Spike right here on the vpvr uh followed by a nice big gap Gap uh and now that volume is starting to build up again so this is naturally where whereWe are going to expect some trouble for Bitcoin so you know I think that we're moving very much as we would expect I don't I don't fully agree with the VPR vpvr showing us not so much resistance over here still quite a bit uh it is clearly a resistance block but I doThink that uh you know once we are able to uh kind of get the breakout if of course cuz nothing is guaranteed here uh you know that's when we could really start to uh play around in these slightly higher ranges uh you know it's it's going to a case of just moving upTo that next zone of resistance and maybe you know consolidating and then moving up to the next one and then you know we get a big pullback you know it pulls us back down to say 30k for example you know maybe maybe it comes like that that that would actually beVery typical of Bitcoin uh you know I think the big thing that's really important to keep in mind now before we get back to this chart that I opened the video with is that uh you know we we are uh we we have actually seen with BitcoinUh you know when we start to break these high time frame resistance levels when we start to break these really big resistance levels like 30k Bitcoin does become quite hard to stop uh you know the logical resistance areas that should be holding Bitcoin back don't tend toHold as much weight as you might expect over Bitcoin uh and I think that's really important to keep in mind because uh you don't want to be the guy that's kind of uh you know just stuck on the side still calling for everything being bearish while everybody else is makingMoney uh you know I mean a lot of people are quite happy to be that guy you feel like you're the smart guy you feel like you're the guy that's good at poker or whatever it's it's always the poker guys for some reason uh I don't know why butUh uh you know it doesn't even have to be a poker guy just somebody who's very smart uh super high IQ very successful in their own right uh that's that's sad I think that was a Lambo that just drove by people in Dubai they have a lot ofMoney but then they buy Lambos and G wagons um but anyway uh yeah it's just such a horrible sound just super distracting um you know a lot of people that are super smart they you know they they do end up kind of just missing out on a bunch of the gains because honestlyOne of the things I've noticed is that the more smart you are the more pessimistic you become um and the fact is optimists are the ones that make money so uh you know especially in times like now especially since the beginning of this year as I've been telling youFor the entire year feeling like I'm going crazy repeating myself over and over and over but knowing that I must repeat myself uh it is the most important thing to do uh because I have carried out sound analysis so let me talk to you a little bit about some ofThese larger time frame patterns they're actually very interesting Bitcoin has repeated some of this or actually at least rhymed with some of this as well already so I think that is really really interesting here's the first one I want to draw to your attention back in 2016Where we actually managed to uh form this resistance line across 2014 all the way into 2016 and then we started getting a lot of reg resistance rejections up here uh we found you know some really interesting lows followed by more or less a double bottom but aSlightly lower low on the next occasion and we've got you know already you can start to see that there are some key similarities here we've got a nice set of lower lows here and then the last two lows are fairly similar but the second low is slightly lower uh and then we'veGot the same kind of interactions constant rejections off our resistance line and there are a couple different ways to draw this resistance line by the way so uh you know I don't want to act like this is the only way to look at the chart but we did manage to pull off a$20,000 move to the upside which is actually incorrect but it's like the $199,000 move to the upside so it's more or less the same thing or you know 4,000 odd per to the upside as well you know depending on how you want to view it uh and that is definitely super super coolAnd if we take a look at the next situation where we did something similar it's not as clean uh we didn't quite follow the exact same pattern as I am I am stretching a little bit here but uh what we did have was a similar trend line with a similar set of rejectionsBunched up fairly close and then that beautiful breakout with a 600% move to the upside here so that is absolutely beautiful and definitely indicate some potentially very very high price targets for Bitcoin I mean you know we don't have to pull off a 600% move or a 4,700Per move but you know if we just just do a 20,000% I'm sorry a $20,000 pump from here or even 10K pump from here that still puts us between 40 to $50,000 and that is definitely a very very interesting uh set of price levels to be considering in this market especiallyWhen we consider that as I said in one of the recent videos as we climb high through these resistance levels it's almost like the air gets thinner the atmosphere gets thinner and of course what I mean by that is that the resistance gets thinner the resistanceThat we're facing is going to be weaker and weaker and that's quite simply because we've spent less time around those levels uh you know the 30k level was the strongest area of resistance and we've broken it it's like you know you beat up the strongest person in the ringAnd now everybody else that's left is weak uh you know I mean as long as you've got the stamina you're going to be good and that is literally like so accurate for what Bitcoin is facing right now like Bitcoin has beaten the big boss and now it's just a case ofWell how much stamina have you got left and if it's got enough stamina then the rest of these little guys are not going to be a problem and that is what I think we could be up against right now so if you do manage to break that area ofResistance at 38 I think it's going to be a nice easy ride up to about 40 41 then we've got 44 and obviously we can kind of take it from there obviously we're on the the weekly time frame it's not so clear but if we do zoom out ontoThe daily uh these levels are actually very very clean uh you know each of these resistance lines that I've drawn with you guys live on one of the recent videos I believe I drew it live on this video which is really good because you guys can start to see how I actuallyDraw my resistance lines and just how quick my analysis is I don't do it quick on purpose it's just quick because it's simple uh you know but obviously it works incredibly well because nobody is making gains like this I mean this is such an outdated screenshot now I'm nowUp to 600% profit uh you know on this Bitcoin position like I said obviously traded right here at home at bybit uh you know and uh and and obviously that position on Tron also tripling you know my my money on on the on the capital that's left in that position justAbsolutely crazy um you know yes I'm doing simple stuff yes I'm trading in in some ways quite boringly and and it is boring it's I'm proud of it that's how I make money uh you know but at the end of this at the oh I can'tSpeak now at the end of the day I'm not sacrificing gains I'm still making more money than most people in this market and I'm still doing it way safer with way less mental stress uh you know and and that's just cuz I am taking these very very simple approaches so uhDefinitely super cool definitely worth uh you know considering as we climb on higher in this market so uh those are going to be some of the things that I'm looking for uh you know these Wicks are are are quite uh you know telling uh you know it really tells me that BitcoinWants to break out uh you know I think that if we lose this diagonal support line that's not going to be amazing it it definitely might be an indication of some drops to come and you know by the way this is how we can kind of look atAt that ascending triangle if we drop our resistance line a little bit lower it doesn't really matter how you draw at the end of the day uh we are still looking at the same pattern here uh you know and so if we do manage to get thatBreak out I think this is going to yeah just rise up to that next area of resistance and if not uh yeah we could start looking I mean look this this will start to look a little bit heavy uh this is you know by heavy I mean that youKnow we rose up by quite a bit but now we're trading sideways quite a bit and it's almost like you know like we went up by this much but we're sideways by this much you know like this line is longer um it's kind of an intuitive thing uh I'm sure that you actuallyUnderstood what I meant anyway it's not a very scientific way of describing it but it obviously makes a lot of sense I mean you know you want to correct proportionally to the move uh and uh and and especially considering you know the kind of big correction we've just beenIn for 200 days the time based correction so uh yeah I do think that if we you know I mean it's been three attempts now if we're not breaking out very soon then you know it might be dump town a little bit whether we go down here or here or whatever it reallyDoesn't matter it's just going to mean nicer opportunity in the market uh if that kind of thing does happen that's probably where I'm going to be interested in at least considering some picks in the AL what the is Pepe doing today ladies J wow um I'm at leastGoing to consider some picks in the altcoin market uh you know I think that they've really gotten destroyed quite a lot I mean ethereum just cannot hold on against Bitcoin cardono can't hold on against Bitcoin none of these coins can hold on against Bitcoin uh quite franklyAnd this is proven very clearly by just looking at the Bitcoin dominance charts so uh you know this is going to start spelling some opportunities I'm going to be outlining what they look like to me inside of the forflies VIP group you can join by following this direct contactLink in the description down below or by clicking on this red link here and then you can click on my name and send me a message it's a direct chat with me it's on telegram obviously you will have telegram I'm sure uh and of course if you want to get access to over$196,000 in amazing bonuses in this market then check out the links to the exchanges down below uh they are all not allowed in certain countries around the world so if your country is one of them do not use them you're going to be IP blocked anyway but if they are availableTo you then go ahead and check them out you're getting up to $30,000 completely free to trade with just when you start trading on bybit and of course you've got 0% spot fees right here as well so if you want to buy and sell shitcoins you can do that without paying any feesSo super super cool those of you that are registered to buy bet under me you're going to be getting access to my $100 trading package worth more than that I need I really need to change this text uh so Ely check that out if you areInterested and like I said a free $50 trading bonus when you open a Futures account on coin W using my link you just have to sign up and open that Futures account that's it that's it literally a few clicks uh within 24 hours you will get that money deposited into yourAccount they are doing this manually and they are doing it for you guys so uh definitely take advantage of this while it's available I'm sure that uh they don't want to do this for too long I'll have to speak to them I'm probably going to be meeting them next week but uh uhYeah take advantage of this while you can because this is a very very cool offer all right guys I hope you've enjoyed this one you know what to do if you have hit up the likes subscribe tick the Bell do all that good stuff and I'llSee you all in the next one cheers