🚨 EVERYONE IS WRONG ABOUT THIS BITCOIN PATTERN!!!!!!!!
Bitcoin Price Analysis
In this video, the speaker discusses the current state of the Bitcoin price and potential trading opportunities. They analyze charts to predict the next high for Bitcoin and discuss whether it will break upwards or downwards.
Rising Wedge Formation vs Symmetrical Triangle
- The speaker analyzes a rising wedge formation or symmetrical triangle in the Bitcoin chart.
- A break to the downside could push Bitcoin back down to $25k.
- If it is a symmetrical triangle, it can break either upwards or downwards and usually follows the previous market trend.
- The previous market trend is upwards, so if there is a push towards the upside, we would see a target of about $31,400.
Trading Opportunities
- Traders can open a long position once there is a break above resistance at $29,400 with a target of around $31,400 and set a stop loss of about 1.5% to 2%.
- Traders can also open a short position with a small stop loss maximum 1.5% to 2%, targeting around $25k on the downside.
- Both trades have risk-reward ratios of over 5:1.
Exchange Recommendations
- The speaker recommends three exchanges for trading: Buy Bit with a $30k bonus, BitGet with an $8k bonus, and Bybit with bonuses negotiated by him.
Bitcoin Chart Analysis
The speaker discusses the potential opportunities in the Bitcoin chart and analyzes two charts to support his claims.
Crossing Above 50-Week Moving Average
- Each time Bitcoin crosses above the 50-week moving average, there is an exponential gain in the long term.
- In 2012, crossing above the 50-week moving average resulted in a 21,000 gain. In 2016, it resulted in a 7,500 gain. In 2019, it resulted in a 1,100% gain.
- The speaker predicts that this time there will be a three to four hundred percent gain and possibly touching $100K next year.
Plan B's Stock-to-Flow Chart
- The speaker discusses Plan B's stock-to-flow chart which shows that Bitcoin could potentially be in stage three of an early bull market.
- Each time we are in the yellow dots on the chart (early bull market), buying at any of these times would have been profitable.
- The stock-to-flow chart has had some inaccuracies but overall is useful to keep an eye out for.
Conclusion and Call to Action
The speaker concludes by encouraging viewers to check out bonuses linked below and stay tuned for tomorrow's video.
- Viewers are encouraged to sign up for exchanges with bonuses linked below.
- Viewers are invited to watch tomorrow's video where the speaker will discuss whether or not Bitcoin breaks symmetrical or rising wedge patterns.