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HUGE Moment for Bitcoin (Watch the BTC Price TONIGHT!!!) - YouTube
Channel: BitBoy Crypto
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welcome to bitboy crypto home of the vet
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is ben everyday on this channel i show
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uh guys let's talk about bitcoin for a
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little bit but uh i guess first you
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gotta say
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congratulations elena braves going to
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the world series at the game last night
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really hype met some people there from
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the bit squad shout out to everybody
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that always talks to me whenever i'm in
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public um glad to always meet people who
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are in crypto and who follow the channel
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and as always i appreciate the support
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uh it was a very electric last night it
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was a lot of fun but guys let's get to
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crypto let's talk about bitcoin today
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because bitcoin right now is is hovering
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around the 60 000 level it's about 60
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300 right now it looks like it could be
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going down there's not a lot of volume
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right now um you know i see that
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reflected in you know a lot of our
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trading sites it's looking like right
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now people are not excited to trade
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bitcoin now i thought this etf was
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supposed to send us you know up
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trillions and trillions of dollars like
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overnight we told you guys that that
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wasn't going to be the case now if it
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were a spot etf approval instead of a
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futures contract approval then possibly
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we could have seen some of that but
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people are seeing now that the etf news
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is not enough to get us to where we're
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going to and if you look at the charts
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the truth is on the weekly chart
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it's very bearish
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the actual candle i can't show it right
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now to you but the candle that we're
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looking at that went all the way up to
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sixty seven thousand dollars and back
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down to sixty thousand
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i mean it doesn't look good it's got a
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huge wick on it and that wick means that
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the bulls were not able to take control
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and push it up further
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and what's interesting is we're sitting
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at about the same place that we were
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last sunday when we were looking at the
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weekly close it'll come later tonight
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and last sunday we said if it was above
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60 000 it was really bullish for bitcoin
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and then right as the time for the
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weekly close came up it popped up to 62
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000 and things were looking really good
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but the question is are we going to see
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that tonight what are we going to see
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tonight it is pivotal to watch what
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bitcoin does today on the weekly to
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discover whether the bulls are ready to
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move this back up or not now i'm going
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to tell you what i think i i think that
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basically the people that are moving the
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price of bitcoin there's a very small
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number of people that what they thought
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is they thought they were going to push
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the price up above all-time highs that
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would flip to support we wouldn't go
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below 60 you know 65 000 again and we
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could continue on but i think what they
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found is there wasn't enough
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accumulation yet there wasn't enough
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excitement
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around this 60 to 64 000 level to
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contain that so i think they pulled it
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back they got rid of over leveraged
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traders and now
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you know they're looking to build that
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support for another massive run-up for
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bitcoin now you know it's really
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interesting to see what happens this
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week because as we get to the end of
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this week
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we approach halloween which is on sunday
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october 31st we're now sitting at plan
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b's you know proposed number for this
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month which was 63 000
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we blew past it and now we're back under
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it will this actually hold true and will
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we be around 63 000
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by the time of the weekly close next
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week which will also be the monthly
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close but you also have to remember
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we're also going to be fighting against
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the monthly close of futures contracts
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which shouldn't be that bad because it
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is only the first quarter of them of the
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the first month of the last quarter so
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you know usually as you get closer to
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the end of those quarters it gets a
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little more dramatic and the truth is we
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haven't really seen dramatic price
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action from these futures contracts
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closing in quite a while um the damage
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has been minimal to say the least now
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here's the thing if we were to take this
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in a vacuum and we were to look at the
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price of bitcoin i were to say
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okay look at this terrible let's say we
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end at 60 000 below where we were last
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week we get a red candle for bitcoin
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would this be bad well told you guys
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this entire cycle or this entire last
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you know few weeks last part of this
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cycle you got to throw out the charts
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right now the charts are probably not
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going to be the best indicator of what
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is going to come and what is going to
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happen
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um what you need to focus on is this
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as we get closer to the end of the year
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all these hedge funds all these
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institutions have to give returns to
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their investors okay
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this is why the price of bitcoin will
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rise at the end of this year there's a
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lot of excitement a lot of high purchase
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points and they need to give returns on
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that money and i think that we are going
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to see that um and i do believe still
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we're gonna see a hundred thousand
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dollars here in the fall
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i believe everything that i've told you
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guys over the last few months is still
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going to come true regardless of whether
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we get a huge wick on this candle or not
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bitcoin has not gotten done we still
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have higher to go just a matter of how
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quickly are we gonna get there and as
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you saw this week it can happen
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extremely quick i mean think about this
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we went from basically 58 000 to 67 000
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in a week
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well if that happened three more times
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we'd be at a hundred thousand dollars
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and that can happen very quickly so keep
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your eye on the close tonight it's not
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super
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it's not absolutely pivotal to the
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future of bitcoin or the rest of this
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year but it is an important indicator of
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kind of where we're at with the current
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sentiment so check that out let me know
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where you think bitcoin is going i gotta
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head to church jump on that's all i got
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be blessed good boy out
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