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Bitcoin At CRITICAL MOMENT (Will Bitcoin Keep Going Up?!) - YouTube
Channel: BitBoy Crypto
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so i i think we are going to see some
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big volumes some big moves uh it won't
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surprise me at all if we're at 56 000 uh
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by the end of the week if not sooner
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than that
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hey everybody today i'm joined by one of
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my favorite guests carl from the moon
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and uh bitcoin has been pumping it's
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feeling good we broke 50 000
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so carl i can only assume you're doing
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pretty well today
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i'm doing very well my whole community
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is cheering in the comment section and i
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think that all of us are very excited
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obviously it is the second time we're
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breaking above 50k but uh let's hope
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it's the last time but that's i guess
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what we're gonna take a look at in the
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charts but uh but yeah everything is
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very well with me how about you oh i'm
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doing pretty great uh you know it's
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really nice when everything works out
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exactly as i predicted as you guys know
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you know we predicted the price would be
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coming back up back in the mini bear
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market people were saying oh it's over
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it's over
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of course there were only a few people
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telling you that we were going back up
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and we weren't swayed by the fear um but
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yeah so so things are going really well
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with the price of bitcoin and everybody
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don't forget by the way
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go down below to the video description
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we will have carl's link to the moon his
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youtube channel down there if you guys
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want to get this kind of technical
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analysis content every day uh hear what
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he has to say on the market you guys
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make sure to subscribe to his channel so
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carl let's without further ado let's go
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ahead and jump into the charts
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definitely definitely so let's take a
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look at bitcoin first of all all right
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guys so here we are on the four-hour
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time frame for bitcoin and i have
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already prepared some lines here
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and first of all we can see that bitcoin
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is right now above 50 000 we broke above
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a very very key horizontal level here
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the um
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47.8 000 level we even retested it as
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support so we can now delete this line
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but we can just establish that we broke
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above that key level and even retested
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it as support here
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um and right now
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i want to show you
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the next big level to watch for bitcoin
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and that is this level here that i
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already zoned in you can see that we had
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some resistance there support there a
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little bit of resistance there some
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resistance right there this is the
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51 000 level approximately
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and it is essentially the level that
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we're running into right now um and
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i'm just gonna be very clear it's a big
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level it's a big resistance level and i
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think that
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um if we were to get a correction at
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some point then i think that 51k could
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be that level we haven't reached it yet
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we still have a little bit of room to go
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until we reach this level um but there
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is one other big reason
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as to why
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i think that's a big level and
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all of my subscribers know how much i
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love the fibonacci retracement tool
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all of my soon 500 000 subscribers i
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think it will take some time before i
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catch up with you bit boy but um
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you'll get there one day yeah yeah yeah
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yeah
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my big goal right now is just 500 000
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subs that's a big goal
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it's a good one a good one
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um all right so essentially the
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fibonacci
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is one of my favorite tools because it
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is showing us the um
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the um so basically what i'm doing now
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is i'm measuring from the top to the
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bottom of this move
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i'm right now measuring the retracement
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here and you have these fibonacci
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numbers and i'm pretty sure your
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audience knows the basics of this yeah
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so we shouldn't have to go too deep into
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that but we're measuring the um the uh
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the retracement here and i would say
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that the most important level by far in
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the fibonacci tool is the golden pocket
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which is essentially
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61.8 percent and
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interestingly enough we can see here i
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hope that you can see here on this on
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the screen but the 61.8 level here is
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exactly to the perfect point
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lining up with 51 000 here the exact
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level that i pointed out here as a big
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resistance and support level
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um
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so in my opinion this gives even more
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confidence um in this level as a huge
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uh uh resistance point and you so the
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golden pocket is basically between 61.8
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percent and 65
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and um very very often you see price
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action go into this pocket and then get
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some type of rejection or some type of
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correction um or reaction of some sort
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so i would just say that this is a big
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big alert area for anyone who's trading
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bitcoin um or even altcoins because we
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know that all coins are
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very very
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determined or the price is determined
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based on bitcoin so if bitcoin is going
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up oscars is going up if bitcoin were to
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get a correction from 51k then we know
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that all coins are very likely to
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correct as well so that's why i think
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pointing your attention to this level
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makes a lot of sense so uh yeah be
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careful there yeah uh just looking at
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there's a couple observations here so
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looks like if we were to get rejected
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there it looks like 47 000 would be kind
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of the next area to look at
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um that that would seem to be you know
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lined up with that fibonacci level there
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i would think correct so this is the 47
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level and and uh
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very very clearly just like you said
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this is a big level right you have some
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support there some support there a
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little bit of support right there before
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we broke it sharply down so absolutely
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if we do get a correction i think 47k
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would definitely be a level to watch but
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um it should also be said that obviously
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we are in a very very clear uptrend
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right now um it wouldn't make sense at
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all for anyone to jump in on a short
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here
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that makes no sense the trend is your
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friend and
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personally i am in
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multiple long positions on bitcoin and
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ethereum as my audience already knows um
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and i'm not closing them right now um
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i i i could entertain the idea of taking
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some profits in the 51
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k area if we do see like a big sharp
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um let's say a big
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four hour or one daily candle that goes
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up and then gets a sharp rejection with
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like a big wick at that point i could
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take some profits but
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but right now i'm sitting along with my
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positions um in fact let me go into the
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one over here because there is a
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tradable pattern that
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uh your audience might be interested in
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uh let me show you here so i already
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made a video earlier today telling my
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audience but let me just show you here
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this is interesting because if this
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plays out then this could be a nice
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little trait yeah nice
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look at this you have this um this
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red line right
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and
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we have a shoulder head and shoulders
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this is an inverse head and shoulders
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and without dragging this out too long
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let me just show you the exact
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um
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target you pull it up like this and this
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should give us a target of
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56 000 dollars per bitcoin then so um
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let me let me give you this prediction
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here
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if we do break above the neckline of the
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innocent shoulders and break above the
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51k at that point and of course with
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volume we need the volume to support the
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breakouts because right now we're
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getting decreasing volume and actually
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we're getting some bearish divergences
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that i can show you but
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um to the point here if we do break
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above this very very key resistance
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level with volume then i do believe that
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56 000 could happen within the next two
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three weeks very easily actually
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um and i would love to take that trade
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myself so this is what i'm seeing on the
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one hour time frame
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um but yeah speaking of that bearish
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divergence let me just show you
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this is actually more on the four hour
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time frame
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now let me just really quickly bring out
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here so this is the um the rsi
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and essentially you can see the the
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heights are getting lower here while in
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the price they're getting higher and
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even if you zoom out on the daily you
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can see this bearish divergence now this
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doesn't mean that we have to go down
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right now we can get one big leg up that
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could create yet another bearish
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traverages because actually look at this
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we had the bearish diverges all already
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down here yeah
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when we were at 46k
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uh but then we see even more highs like
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this more more highs and
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but lower lows here or lower highs there
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so a bearish divergence doesn't have to
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be a short signal but it is a signal
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showing us that
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we are going up but the bulls are losing
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potentially some steam and at some point
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we are going to have to
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get this consolidation or maybe even
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correction before we can get that next
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big push that could take us up above
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all-time high for example
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well i i would argue that uh you know
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the reason for that is because what
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we've really seen over the last couple
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of weeks has been retail sentiment it
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has been retail moves on the market
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that's why it's been moving
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very slowly it seems like only a
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thousand dollars at a time where you
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know there was a period of we go back to
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the end of july where we were moving up
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eight thousand dollars in a day and uh
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there was a lot of volume behind that if
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you go back and look at the crash cut on
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the chart there you'll see the same
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thing when we were going to the downside
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but ever since you know kind of the the
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first week of august we just been slowly
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ticking up slowly ticking up when we
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have had a big candle it's been in
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reaction to a considerable drop so i
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would say that probably once the whales
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are ready to get this action going
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because i believe that we're going to
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see all the parabolic movement for this
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bull run for bitcoin in the next six
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weeks uh or less
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so i think we are going to see some big
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volumes some big moves uh it won't
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surprise me at all if we're at 56 000 uh
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by the end of the week if not sooner
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than that uh based on that uh pattern
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there we were looking at on the hourly
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so uh carl thank you so much for uh
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joining us today drop in knowledge as
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you always do on the channel you guys
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make sure to subscribe to his channel
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down below in the video description carl
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anything you want to leave us with today
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any parting thoughts
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um
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okay so maybe um
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um i can wish for something yeah sure
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wish for something i can be a genie okay
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so next week i'm wishing
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i'm wishing for sixty thousand dollar
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bitcoin and five hundred thousand
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subscribers please
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yes
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yes your wish is my big boy god can you
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grant me this wish the genie the genie
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i'm not a god i'm a mere jesus
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in a bearish lamp for a long time ready
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to get bullish all right guys thank you
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so much for joining us drop comments
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down below let me know what you think
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about carl's ta let me know what you
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think about where bitcoin is heading to
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by the end of this month hey that's all
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i got be blessed
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[Music]
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you
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