Bitcoin – BTC Hourglass – WAIT BITCOIN BREAKOUT SOON – WAIT FOR CONFIRMATION (why BTC will surge soon, confirming factors) Hey everyone welcome back to crypto cash thank you so much for joining me here I hope you’re having an amazing day happy Monday to you and uh obviously I hope you had a wonderful weekend we’re going to take a look obviously at some things here with Bitcoin such as today’s market Trading day uh opened pretty awesome and just turned right around it’s an interesting and ugly market right now but good news is that is establishing higher lows and higher highs on smaller time frames so that could shift into a positive in the big picture uh we will Also take a look at some CMA Futures here see if there’s any gaps that got needed to get filled and effectively just kind of understand big picture of what things are looking like on the back end here with some level 2 Data so if you’re new to the channel now to Financial advisor hope you can learn something here today you want to become a better Trader cryptocash.tech is a site linked down below more importantly check out our bingx crypto cash giveaway we got an awesome 10 000 rewards basically 100 for anybody uh trading bonus uh that resides in Canada Europe Oceana us and UK so it’s kind of just this helpful replacement for buy bit uh just so we can kind of help you know kind of get our traditional Traders if you will I’m back on track and there’s no minimum trading volume or deposit required for this bonus so just keep That in mind really awesome stuff link down below for that we’ll have it on our website here soon so what we want to talk about is a few things we’re going to jump into the high block Capital data right now and kind of just kind of see What the back end stuff tells us because there is absolutely some interesting things going on I want to discuss that with you so be sure to watch all the way through if you could okay so first and foremost volume is roughly where it’s at we know pretty much where that’s at uh We can see on the larger time frames if we look at the volume a significant amount of volume coming in today which is really really nice if we take a look at liquidation there’s not a lot going on there so we got some Longs liquidated with that little little increase and Decrease that instant up and down but mostly you just kind of break even pretty pretty low comparatively okay we can also see there’s more people trying to buy right now than to sell so somebody knows something right and in most cases you see a lot of more buying Pressure when the price is going sideways like this and effectively the potential increases on the horizon we can also see here as well a lot more lungs were opened up than closed here today so far and the same with shorts too kind of breaking even there in that Sense where there’s not a lot of up or down the shorts are a little hesitant where the lungs are a little more confident that’s a good sign we can also see that whale activity is also high it’s pretty consistent across the board but apparently speak when the price goes Up the whales tend to participate and the main reason why is because a lot of retail Traders take over and effectively control the market a little bit more but when the price is kind of manipulated within a very small tire range whales are just having a good all time Basically what it means all right take a quick look at the lungs here too kind of see what’s going on we can see some early Longs and late Longs of course are in the profit right now they’re doing pretty well for themselves um granted the price isn’t super high uh Compared to where they got in but we have a lot more profitable Longs here than we do shorts a lot more shorts are essentially hedged at 26 8 where we have an equal amount of Longs there we can see some closed short positions too here so generally speaking that kind of does Give us indication that most people are a little more bullish than bearish right now that’s just the general sentiment we can disseminate from the back end data that being said what is the larger time frame tell us well let’s go ahead and take a quick look here and kind of see We have this descending Trend that’s occurring right now and oftentimes it can break down having derived originally from the beginning okay so keep in mind we could have a potential breakdown on our on our hands we’ve retested this level multiple times and we’re establishing lower highs and lower lows On the larger time frames it’s not great we can also see we’re below 50 in the RSI and we have a macd potential convergence is this going is this one gonna happen though every time we have a convergence last in the last month we’ve seen it get just we totally got tricked By every one of them yeah so are we going to converge here is it just going to be another another false positive we will see obviously we also want to recognize too that moving averages or below the two of course the 20 and the 50 or above the the 200 and if you Look at the EMA very similar scenario here where the EMA is having to sell out at the 200 roughly at about 25 000.so big picture wise that tells us a lot here kind of letting us know that we are in a position right now if the price Comes down once again 25k is a support level let’s talk a little bit more about big picture though here because there is more you know big picture stuff that I think is beneficial here to recognize so according to Elliott wave here we are essentially we just hit our fourth our Fourth low in other words sorry that’s the second low but a number four on Elliott wave and what Elliott wave does is establish higher highs and higher lows uh consistently until you hit a five we are still projecting our five out to be somewhere in the range of 35 000 to about 51 000.granted that’s a very obnoxious uh significantly large Target I don’t think we’re going to see that right away but it does imply though that with these ways that we’re seeing here the bottom should be in considering the fact that we have a lower high now And it should be followed by a higher high okay so that is essentially where we’re at not a bad thing at all if you look at the four hour two we’ve also got a very similar scenario here as well where it does show that we have hit our one two Three four five ABC pattern so hypothetically we’ve got only up from here now again it’s not a guarantee the price is going to go up because of that just because we finished in a full Elliott wave it doesn’t necessarily mean that but it does imply though that if we Can bottom out right here which I feel like 25 to 27 range is the bottom then we’ll be more likely to increase from here and then decrease the overall picture Okay so again I’ve got a lot of buy orders in the 25 000 range just to Be safe I would recommend the same thing but at this point that’s roughly where we’re at let’s take a quick look at the RSI we can see where we’re trying to test or retest 50 on the RSI the good news is we got more money flowing in which is a Positive side in the big picture we can also see here that we’re converging once more but we haven’t officially converged yet so we should see an increase here soon based on this momentum and the fact that we are potentially increasing there as well we can also see stochastic hit Us the little bottom there also here recently so we do have potential for further upside or even a potential downswing as well but generally speaking what we are looking at here is there’s more favorable information on the four hour then we can see disadvantages okay So that’s a really good sign we like to kind of see that here definitely a positive all we need to do is establish a higher low here and we’ll be in good shape you can see that we are making tentative lower lows that’s not great with the lower high pattern here but if We can break out of this wedge here we’ll be in pretty good shape to see that work as a support for the upside okay last thing we want to look at here on the four hour is just the moving averages we are stuck under all three of Them of course but we’ve been averaging above and below consistently the 50 and 20.what that really just means for us here is that the 200 is the more bigger point of contention there where that’s averaging itself out close that Fibonacci retracement level of 27 800.
So if the price comes up to that level we can we’ll probably experience a rejection initially with the potential bounce off twenty seven thousand three hundred so once again 27 3 is also the more recent resistance level that we’re having difficulty closing above so it’s an important thing to kind of recognize So take a look at the one hour we can kind of summarize here that the one hour is well interesting we got a lot more volume here coming in of course with the New York New York Market coming up and also with the previously closed with London so London market is closed strong New York Market kind of opened funky we can see a lot easier on the 15 minute time frame or just jumped up and jumped down instantly within less than an hour so some Tom Foolery going on today of course but that’s pretty standard as part of the course let’s go ahead and Take a quick look at the ichimoku cloud and kind of see where we’re at we got rejected by the cloud this is one of those things a conformational sign I’d like to look for so keep in mind if we can close today somewhere in a range of roughly about Twenty six thousand nine hundred then we’re gonna be in pretty good shape okay so we really need to hold the current price point or higher over the next 24 hour period to be able to close above the cloud and that would inevitably put us above the descending trend line and Essentially give us that conformational sign that we’re in good shape we’re not there yet try not to get too excited this is another reason why you know you wait for Candlestick closures because had you just say taken along right there you’d be underwater for lack of lower Terms right now because you didn’t wait for confirmation and to me confirmation is waiting at least two or three hours above a specific indicator to ensure that you are closing in that direction we had a definitive rejection at that level of roughly twenty seven thousand so again 27k is a point of contention Right now we can break above 27k consolidate and then of course hit 27.3 very hard we will be on target for 27 a and further but for right now we need to kind of wait and be patient for that last thing too we want to note here as Well is the hourly we can see that we are hitting a previous nine to sequential came down to a seven basically an eight got a reset up to a seven and now some funky Behavior so in truth Bitcoin is doing fairly well being consistently overextended and in that regard we can See here that it really just tells us there’s more consistency in these these Trends minus of course the New York open some funky stuff honestly but generally speaking what we can disseminate from what we’ve looked at here so far this descending Trend we need to break Above it and close above I’m looking for a closure at 27 000 or higher today I think to be in good shape 26 8 I’ll take but there is potential for further downside considering we keep testing this 26 700 range keep that in mind once Again 25 000 should be the bottom if the price were to come down that low just bear that in mind with it you know moving averages and a few other support ranges but generally speaking Bitcoin isn’t in terrible shape I still feel we should see more increase over the next Couple of months than a decrease um but it wouldn’t surprise me at all if we came down to 25 first before we took off so again different uh different strategies different theories out there but I’d recommend just being a little bit more patient right now waiting for The the you know the hourly Candlestick closure above the 26 800 Mark more specifically above the each mobile Cloud the next 24 hours that way we can break free from this descending Trend and essentially continue higher and that’s what we’re looking for all right well I hope this was sensible and beneficial For you obviously again you want to become a better Trader cryptocash.tech as a site link down below we’ve got a lot of new members coming over because we are offering some significant rewards here for bingx they’re going to be our new exchange kind of replacing by bit so Be sure to check that out um and then of course we also have training competitions with um with bit get as well so it’s a really kind of fun experience there we’re all learning growing together we’re bringing some day trades the community too here in the next couple weeks by month end really Just waiting on the back end stuff for our web guys to get that up and running so awesome stuff really looking forward to that excited for that thanks again so much for joining me here I hope you have a great rest of your day we’ll see the next one take care BINGX EXCLUSIVE REWARD (Limited Amount)! 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