Ding dong, The witch is dead.

Hide your toes because I'm under the bed.

Guys, welcome back to his exciting update The very last time that the 21 week moving average met exactly with the bottom of this trend Line right here was back at the beginning of 2019 and what we saw immediately after was an extremely large pump over $1000 in a single daily candle.

This trend line is extremely crucial.

The structural trend line.

It has not been broken, save for a few weeks and some candles closing, but immediately going back above that will Bitcoin hold here.

And if it doesn't, what could happen to the market?

Aside from holding right at the 21 week and 50 week simple moving average, we also have Bitcoin here trying to bounce above this 50 day moving averages.

Well, Bitcoin, currently in the no man's own trying to form some sort of a pattern.

In fact, yesterday's pattern played out perfectly and did break out to the target.

But you do see this 50 moving average coming down to find a little resistance there.

But it's also being squeezed in between this 21 moving average here.

Well, Bitcoin break to the upside.

What?

We stall out for a little bit.

We have to delve into that.

And here is a perfect illustration on the weekly chart.

Again, the 50 and 21 moving averages on this weekly chart coinciding perfectly here.

If Bitcoin is able to find resistance and get a bounce to at least the target that we talked about, it's needing to break that $9200.

Then, boys, maybe we're in for some sunshine.

So, guys, turn off those dirty videos, clean your socks, and let's get in to this video.

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So guys really jumping into this chart, we can take a look at this falling wedge that we saw break out yesterday.

Okay, so yesterday when I was making the video, it was very earlier, similar to this time, a little bit earlier, actually, and they were right about here in the breakdown.

We actually did attain kind of break out target for this small pattern on the four hour chart.

But you do see we run into some a bit of a slow down here at the 50 moving average right here.

You can see it wit right to hear, and that's kind of getting squeezed in between both these guys, But this was able to bring Bitcoin back above this 21 moving average here on the four hour.

So it's important.

We need to keep it on that.

As for right now, if we look at this chart, it looks like some very much sideways consolidation, if you notice.

You know, you look on this chart over the past few weeks and months, you notice we don't really spend a lot of time doing something like this.

So I am beginning to think again.

We are going to see a move one way or the other.

But guys, because we actually take a look out.

And really look where we're at on this chart, it's pretty critical.

It's a pretty critical zone.

Okay, we basically have Thio find some support and move up from here, even if it's only short term, even if we're gonna continue down, okay?

For this to remain healthy for right now again, we need to get a bounce here.

Look at this.

We have the 200 day moving average right here.

Okay, That's where we fell through.

It temporarily tried to find support bounced, and now we're currently just really trying to that better illustrate that?

Actually, look at this, You guys.

So this is the weekly chart.

Ah, And again, if we go to the daily, you can see this same moving average is right here.

This yellow line right here.

But if we go to the weekly, you see that the 50 weekly moving average and the 21 weekly moving average are right here also exactly where this line is.

So basically, what needs to happen is Bitcoin needs to get a move up over the next few days and really cement this.

It could trade sideways for a little bit, but it basically needs to go up.

Otherwise, this is going into very fishy territory and is what we do have to take a look at these markets.

We have to see how today plays out for these markets, cause again they could have a big impact on how this moves.

But for right now, Bitcoin basically needs needs to perform pretty nicely here because we're in a very, very tight spot.

Okay, We had a massive weekly candle from 10,000 were over $1500 last week.

We went down.

Okay, Now it's not similar to this drop in the sense that this was this this drop is actually caused by breaking through that 21 week moving average.

Okay, so this was a descending triangle right here.

And when we broke through that when we actually broke through that 21 week moving average right as we broke that you guys can see, we went from 9800 all the way down to 7700 in a single week.

Bounced around a little bit.

And you notice even after this insanely large dump, there was a pretty big pump back up.

Okay.

Same thing here.

We had a really large dump here after, I mean, I was prolonged.

Dump it.

And eventually we did get another pump backup.

This time, we got a very sharp dump.

S o to see another similar dump that size.

I just don't think it's likely.

Also, this would destroy market structure if it did do that.

Now we do have to talk about this 200 moving average here on the weekly.

Okay, so this is where it really bottomed out.

That $3000 level back at the end of 2018.

The beginning of 2019.

Now, one thing you notice is we didn't come straight down to this.

Okay?

Once we actually broke through this 50 moving average and as well broke underneath this 21 week moving average, it took quite a long amount of time for us to go down to here.

So let's say a worst case scenario.

What happened?

Let's say we did break this.

It wouldn't make sense that we would come straight down to this level at all.

You know, if that would happen, I would have to play out over a very long period of time.

Most likely there's so much resistance and support.

So much support underneath us here if we actually zoom out again, Guys, look at this chart going back the last two years, actually, critically.

Right now, we're in a very strong spot.

But again, that 8200 is just massive.

There's so much, so much volume there.

Okay, if we use the mountain, just show again.

We looked at this the other day.

This has insane amounts of William right here and then as well.

This 7000 is absolutely massive.

Now let me actually minimize this.

You guys can see this.

Look at this right here.

My camera was blocking in the last video.

But look at this.

This area will re bottomed out.

Is by far the biggest amount right here and now.

Obviously, you see some stuff down here.

Maybe that would be I mean, that's $1000.

So, like, basically the barest the bearish of the bearish people.

Even if we go in, like another two years of downtrend, they don't think we'll go below 1000.

So that's the absolute lowest.

Even the most bearish people think.

If we did go below 7000 again, guys, it would break this.

Okay, this is like this Red Line represents our lowest target right here where we have to bounce in Wick.

Okay, that's the very lowest, because again, this line would be destroyed then if that would be the case.

But I think optimally the best move that we could have right now if we opened and had a pump up to this $9200.

That's what we're looking for on the upside to get bullish because we're not bullish.

Currently in the short term, to get bullish in the short term, we need to hit that $9200 range a 1,000,000 reasons why.

Okay, The 50 day moving average is probably one of the most key areas, and it puts us back into some nice, safe territory there.

And actually, as we're recording the video, we do see a move having now So going from 8900 currently, about ah, little under $200 going below that.

We're trying to test this This moving average right here.

The 21 here on the four hour.

Okay, so if we're actually consolidating into this move here, we could potentially seeing a move up.

Now, I've looked at these charts.

I don't necessarily see any type of clear pattern on, like, the four hour necessarily here.

But again, on those bigger time firms, we see potential patterns.

And again, if we want this head and shoulders to complete, we really need to see some momentum over the next few days.

Pumped 9200 be the start of it right here.

Breaking this.

Then it's 21 day moving average.

And then we could potentially climb back up and retest there.

That is by far the bullish scenario So guys make or break times.

This is definitely the calm before the storm there is.

OK, this is the decision, Period here.

You know, looking at this chart, there's no clear pattern of you know which exact way it needs to get wants to go.

But there is a pattern of where it needs to go if this is to remain healthy.

And I did want to mention something else here as well.

So, guys, we're on about a two month uptrend right here, right?

And we have a pull back.

So if you know what?

What was the point of the Golden Cross?

What was the point of all these bullish indicators and everything that we were I mean, everyone was talking about for the past two months.

What was the point?

If we're just pulling back and I want I want to say this, you know, if it is in fact a bullish trend now, you know, because there's so many confirmations we broke out of that bearish trend.

And if we're on a macro bullish trend now, the difference in the thing that I want to point out is that what we will see is similar things to what we just saw that dip, their very similar to like when we're in a bearish trend, okay?

And we see massive pumps up that immediately get rejected and jump back into the trends.

So basically, what I'm saying there is it's very possible on Lee.

If this is a confirmed bullish trend, okay, on Lee, if this is bullish that what we're seeing now is like the opposite of the berry shred, because remember, bearish and bullish trends are different and they trade differently.

But overall, if we're an actual blister, and this thing is going to jump right back into the bullish trend, even after a significant pull back here, But again, we have to wait for confirmation of that.

We got the Golden Cross.

We got all of these moving averages getting smashed through in a good way, you know, breaking up over the past few months and again with this two year bear market so far, with this pattern, everything we did every time that we went back up, as you can see here, you know, look at this the opposite way.

This would be like a dump for us now and then this would be a pump for us now.

So every time this went up, people were thinking, Oh, maybe it's going back up.

But the overall trend was just very bearish, and that's how the Bears trend is.

So, in fact, if we're actually breaking out into a bullish trend at the very again, if we were, this would be the very, very beginning of it, okay?

And they're already so many confirmations, like we mentioned about the moving average and everything.

But if we are breaking into the bullish trend, then we will see pull backs like this that over time very quickly will get brought back into a bullish trend.

So we would need to see a bounce on again.

If this is actually a bullish confirmation, the first thing we need to do is break that 9200 and as well, I did just want to in the video, talking a little bit about this.

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