886: BITCOIN CONSOLIDATION ENDS HERE, NEXT SELL AREA $230K!! YEAR-LONG CRYPTO BULL RUN IN PLAY!!

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3.6 • 626 Ratings

🗓️ 28 March 2022

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

The last time Bitcoin closed above the EMA Ribbon was after a double bottom + Higher High, which sent the king cryptocurrency parabolic from $8,000 to $64,000. "$230,000 is the next touch of the dotted line which is a good indicator for a possible next top of BTC. Bitcoin initiated with the pattern since the beginning of the 2019 flip. The asset rebounded from the lows firmly at $3100 and surged high to hit $64,000 in 2021. Further, the asset plunged and again smashed the current ATH close to $70K. In the due course, it formed a double bottom as it had formed before. Therefore, if the BTC price follows a similar pattern then, no stronger sell area may be encountered before it smashed $200K somewhere close to the end of 2023 as predicted by the analyst. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In today's show, as buy pressure enters bull market territory, I'll be sharing the five things to watch out for in the Bitcoin market this week. And quoting Pentoshi here, Bitcoin update, yearly open tagged, flipped a support, then 50,000 next with potential move into 53,000, in my opinion. And as Matthew Highland shares, Bitcoin has broken above the $46,000 resistance zone. The next major
0:21.8	resistance zone is around 52K. And as macro charts, shares here, equity traders sold heavily
0:27.8	into this rally, one of the biggest weekly purchase in history as a percentage of market
0:32.3	cap. Total selling had a new record, speculated positioning now significantly net short,
0:37.0	at risk of a further squeeze.
0:38.8	Similar setups led to some major rallies, including the Binance CEO, effects of banning Bitcoin
0:43.6	mining. Bitcoin hash rate new all-time high, higher than when. The ban happened, including
0:48.7	Philip Swift, big jump up in the Fear and Greed Index today on that Bitcoin move. Last time,
0:53.7	we were this far into
0:54.6	greed territory, the price was $60,000 plus. And quitting plan B, some people think that because
0:59.8	Bitcoin crashed on green in 2014 and 2018, Bitcoin will crash again on green in 2022.
1:05.7	But this could be coincidence. Bitcoin could also pump on green like in 2011.
1:10.2	Color just indicates months until next halving. Stock the flow says nothing about when Bitcoin pumps and crashes. And this just in breaking news, U.S.T. Stable Coin Foundation buys an additional $2,830 more Bitcoin worth $130 million. Also in today's show, here's what's sustaining the latest Bitcoin surge,
1:27.8	according to crypto analytics firm, GlassNode. They say it's to short sellers. Those who are betting
1:32.9	on the sustained drop of the Bitcoin price were responsible for carving out a bottom for the King
1:37.8	Crypto. Also in today's show, Crypto Strategist predicts aggressive Bitcoin breakout and says
1:42.4	the King Crypto is giving March 2025s.
1:45.7	Quoting credible crypto right here, the market looks good.
1:48.4	Bitcoin continues to grind up and climb up.
1:50.7	Bitcoin looks excellent.
1:52.0	This is exactly what we wanted to see.
1:54.1	We have now broken the upper trend line of this potential triangle.
	...

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