Why Bitcoin BTC May NEVER Go Below 10K Soon!

Why Bitcoin BTC May NEVER Go Below 10K Soon!


Point is at an ultimatum as we approach the end of this market structure in this pennant formation you can see we’re either going to be breaking out to the upside or downside and I’m gonna talk about why I’m seeing some very important indicators with the 50-day moving average alongside with what’s happening with aetherium breakout Bitcoin dominance and Total cryptocurrency market cap compared to gold markets as well. And by the way, sorry for not making a video in over a month I got into a car accident. Unfortunately, I’m doing a lot better now I did have to get stitches on my face and a lot of other things were broken however I’m not gonna go into too much depth there because I am doing a lot better and I’m excited to get back on the video Grind but if you guys are in our free discord The link is in the description below If you’re not we do post our daily market updates here, and I’ve been posting every single day I’m posting all of my trades as well we have our Signals here and we have our whole community here engaged on a daily basis And I’ve been taking this time off to really engage in the discord with our members So if you guys aren’t a part of that the link is in the description below But I’m gonna talk about what’s happening with Bitcoin and where I predict us to start heading towards as this is really what my pattern Prediction is gonna be and I’m gonna talk about why I think that because we’re seeing so much manipulation in this market We’re gonna see a little bit more manipulation before we see a breakout to the upside now when you look at this current formation You can see we saw a very similar area here in the past where we saw Bitcoin consolidate between that ten thousand two hundred and ten thousand three hundred dollar range Before seeing a drop to that ascending support level and then we continued the trend up and I believe we’re gonna be seeing this Exact same formation here Once again as we start to head towards the end of this pennant we’re gonna have to come to an ultimatum and in my opinion that’s gonna be the ultimatum because as you can see this ascending support, level is still active and I wouldn’t be surprised for us to see one more push down and Allow us to get that final and last entry under ten thousand for us to then see the breakout to the upside now why I’m still so confident with the breakout to the upside for Bitcoin because a lot of people are saying it might go to 7,000 but I just don’t believe that’s the case and reason being is because when you look at a theorems recent breakout You can see we went above that 50-day moving average, which is an average We’ve been trying to get above with Bitcoin for quite some time now and Bitcoin has been back and forth Above that 50-day moving average we can see right now We are below the 50 and the 100 a moving average depicted here in red and blue So therefore I think that’s enough pressure for us to see one more push down before we see the breakout to the upside but overall when it comes to the fundamentals because when it comes to markets 80% of trading is emotional 10% is technical to the other 10% and fundamental when we see gold in the market structure We’re having here it wouldn’t be a surprise for me to see us see a little bit more downside in a Correction towards that 50-day moving average before seeing further upside with gold But I’m still very bullish on gold because as you can see when we look at markets like the Nasdaq which is a traditional market typically when we’re approaching this next recession that everyone is expecting we’re gonna see capital and liquidity flow from traditional markets to hedges, like gold and Bitcoin and so Knowing right now that the Nasdaq just saw a quick pump up. We already double top I’m not expecting us to go ahead and break new highs with the Nasdaq I think this is gonna be one last push up before we start to see a real push down here with the stock market And I think that’s when we’re gonna see gold come into play and that’s when Bitcoin is gonna have the chance to see a major Breakout, but before we see that breakout, I do expect us to see a little bit more downside but this may be the last time that we see Bitcoin under the $10,000 level and if you guys are a part of our discord and you are staying in touch with our market updates, you know I did post a recent market update talking about an extreme opinion that I have about Bitcoin and why I believe That Bitcoin may never see prices under 10,000 at one point here soon because of the whales wanting to keep it in the five digit Numerical values and if you guys haven’t seen that post it’s in the market updates here You can see it starts off here. Is this a bit of an extreme opinion on Bitcoin? But this is more based on fundamentals alongside some technicals I would check that article out if you guys wanna have a good standing of what I believe This market is heading towards over the next few months, but overall I wanted to make this video so you guys have an idea of where I’m expecting bitcoins ahead because everyone is looking at this etherium breakout and Expecting Bitcoin to also breakout which I was also expecting a Bitcoin to break down but as we start to see more and Momentum here with aetherium and Bitcoin staying stagnant for me that shows us that the Wills have something planned they have a move ahead of us and we’re not just gonna see a quick break out here with Bitcoin because if we do break Out right now that everyone is gonna be jumping on to Bitcoin knowing the fact that we’re gonna be above the 50-day we’re gonna be above the 108 which will act as strong support but more Importantly, we’re gonna break above this major trend line that everyone has been following for quite some time now And I just don’t expect that to happen out of nowhere. But because we saw the breakout with aetherium over that 50-day moving average What I’m expecting is for aetherium to go ahead and bounce on that 50-day moving average Which you can see it likes to bounce on the 50-day if you can see these previous points in which it’s bounced on the 50-day that right there is gonna be enough room for Bitcoin to see that final last drop as we saw here if we pull up a One-hour chart you can see how similar this market structure is here to previous market structure. Sorry I just drew that by accident because I’m using a computer that I don’t typically use by the way like and Subscribe to our YouTube channel if you guys want to support my work here especially on our youtube channel you guys mean a lot to me and I wanted to make sure to put this video out even though That you know, I don’t have my front two teeth right now I have a retainer on I have stitches and I just went through this car accident and a concussion totaled my car But at the end of the day I’m staying positive because I am behind my charts and we’ve actually had almost No trades hit stop Lots of you guys are Nordisk or you can see all these targets it just day after day bit mechs target’s aetherium Bitcoin and gold being my main asset classes right now to trade but anyways to look at this market structure you can see This is where I’m seeing very similar structure. You can see we had this consolidation here and then we saw this fake breakout 10 3 before we sell the big drop you can see right here same exact consolidation here. We actually Dropped all the way down to 9800. That’s exactly where we dropped right here as you can see Before we saw that push back up and then we saw that consolidation Fake up to 10 3 and then we pushed all the way back down to 10 5 I think we’ll see that same exact structure here where we went down to 98. We saw this push up now We’re staying below 10 3 We may see a quick fake out above 10 3 and then that pushed down but I don’t believe we’ll hit that 9400 I think the perfect entry if you guys are staying apart into our discord and looking at those market updates is gonna be around that 96 to 99 hundred dollar dollar level and if I were you I would just say stop-loss around that ninety two hundred dollar mark because if we do break down there, is that possibility Then we are gonna be most likely heading towards the 8 and seven thousand dollar levels but I’m not assuming that opinion as I am overall bullish and at the end of the day when looking at any sort of technical Analysis, you want to go with the major trend and as we can all agree the major trend here is still up We have a lot of room to go when we look at the weekly chart here You can see we have all this room here from previous market structure that we have start heading up towards And I’m not necessarily worried about these lower amounts of volume because you can see even with the low amounts of volume We still see good momentum and price action. I’m more worried about price action Overall market trend and then market structure when it comes down to the daily and 4-hour chart So that’s what I’m looking at here Another confirmation of this analysis analysis would be looking at Bitcoin dominance when we pull up This weekly chart you can see we’re heading towards these known resistance levels however When we pull up the daily chart you can see we’re still overall trending up but we just broke below that 50-day moving average so I wouldn’t be surprised for dominance to see a continued drop possibly towards that 100 day before we see a bounce up because you could see in the past we have went towards that 100 day and you can see it’s acted as a Area of support before a breakout in the past so that will allow Bitcoin Quick drop down that will also allow etherium to correct towards the 50-day moving average and that’s when I think it’s more appropriate to assume the breakout for Bitcoin and so hopefully you guys enjoyed this analysis in this video if we were to pull up total cryptocurrency market cap just to finalize this analysis what I want you to realize Is where we see major volume right now We’re at this area of major volume, but you can see just below we have still a lot of volume here as well And so for us to break down towards that 240,000 total market cap would it be a surprise to me before we see the breakout to the upside? But I just don’t believe we’re gonna see any bear market here soon I don’t think we’ll break below 240 billion in total market cap You can see if there’s enough volume there to hold us And this right here is gonna act that as a safety net And I think that’s where the whales want to take advantage of the manipulation and take advantage of this little gap of volume here. So hopefully you guys enjoyed this video if you guys Support my analysis like this video And other than that, thank you guys so much for tuning in here on traders profit club And I want to see you guys Active in the discord cuz I’m there every single day and if you guys want to get my trades as well the discord It’s free. The link is in the description below and there’s a mobile version as well that you could just utilize on your phone. So Hopefully you guys enjoyed this and with that being said that’s it for today Thank you guys so much and I will be recovering and back on the YouTube grind here fairly soon but once again that this Court has been a great place for us to communicate and engage and I can’t wait to see more of You guys there? Thank you guys so much and until our next one

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About the Author: Maximilian Kuhn

18 Comments

  1. We can learn a lot from Ethereum's ETHUSD recent breakout from 189 to 215. Let's see it's correlation with BTC & why we may 1 more chance under 10K.
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    This may be a bit of an extreme opinion on Bitcoin BTC but this is based on fundamentals alongside clear technicals.

    Over the last few months that BTC has consolidated over & under 10,000 it seems like there’s a genuine buyers market under the 10,000 level where people don’t mind buying BTC.

    Along with that, big evens are important especially going from 4-5 digits & I believe the whales want to maintain a 5 digit numerical value towards BTC.

    These may seem like simple factors but they are very important as it all plays a part in the emotional side of buying/selling assets which is 80% of what drives markets.

    Fundamentally, we are seeing a lot of major institutions accept BTC or adopt it. Gold is still in a bullish uptrend after breaking a weekly resistance its held since 2014. There’s an upcoming recession expected & we know the versatility/ dynamics of BTC was built for times like this.

    Technically speaking, moving averages play a big part in this cycle. Bitcoin has crossed below the 50d / 100d moving average several times but seems to just keep finding its way above it.

    Most people who are short on BTC just want it at lower levels. Even with the lower volume than the initial rally, i believe it’ll only take one push of good news to break the emotional barrier for more capital to flow in and continue the trend. If it breaks over 13k then I don’t believe we will see a Bitcoin under 10k anymore as that will ignite major attention.

    We can learn a lot from Ethereum's ETHUSD recent breakout from 189 to 215. We have moved above the 50D moving average which Bitcoin BTC is still below.I believe Bitcoin BTC will follow Ethereum ETH soon and breakout from this pennant above the 50D moving average. Bitcoin Dominance is becoming oversold & hitting a major support.

    As we know the manipulation in this market is high, we saw a nice BTC push up today as expected, however the sell volume came in just as fast as the buyers so this leads me to assume we may see another short by whales to bring price closer to 10k even.

    Circled in green we can see very similar market structure that we recently experienced which was followed by a breakout. With BTC dominance, and Ethereum ETH looking to see a correction soon, I believe BTC will follow with one more push down. We also are under the BTCUSD 4hr EMA along with the 100D / 50D moving average. (Both bearish short term for me.)

    We can learn a lot from Ethereum's recent breakout as it went above the 50D MA and I believe BTC will follow once we finalize this major pennant structure.

    This breakout is taking a bit too much time which leads me to assume it’s going to be a possible short once more to complete the structure with BTC. Ethereum seems ready to take a corrective plunge & I believe BTC may follow as it has been with recent movements. BTCD is not showing the strength I’d like to see, and Gold XAUUSD is also not showing strength with room for downside.

    We may have another chance to grab Bitcoin under 10K as it seems as if sellers are still strong & we still can touch one more point on the ascending triangle that’s forming on the daily timeframe (refer to above chart).

    My ideal scenario would be a bounce at 9800-9900 again allowing for the bulls to show the bears that they’re still strong. The completion of the ascending triangle would be a bounce around 9600-9700.

    If we don’t see the sellers come in then we may have a nice BTC breakout of this triangle. Looking at gold we are also seeing strong sell pressure so we may see a similar move there.

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  2. Checkout a text analysis of this video
    https://www.tradingview.com/chart/BTCUSD/g1vLiEez-Why-Bitcoin-BTC-May-NEVER-Go-Below-10K-Soon-1-More-Chance/

  3. Nice video
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  4. Oh man. Thank you for your continued free and paid signals. Hope you are feeling better. I have a feeling if the US Fed lowers interest rates BTC might go to the 50 day then bounce as you say.

  5. Bitcoin has followed this pattern for sometime now: It dips and gets everyone scared then after retesting an old resistance several times, we wake up one day

    to see it has burst through. This may not mean its going to keep doing that but it spells out the fact that we all need to buy now and ride with the profit

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