Bitcoin Analysis & Crypto News Today | Price Prediction | Chart

what's up fam welcome back i missed 
you guys missed you i had a few more   videos i've been working on but i just 
couldn't get them couldn't get them to   work so i was like man it's been a long time 
let's go live so we're live today pretty spicy   day today we have some interesting new 
stuff going on and the markets for once   seemingly following along with the news we don't 
see that all the time uh we're gonna take a peek   here that bitcoin we're gonna look through i 
think some some of the news here from today maybe   there's something we're not catching let's just 
peek in here if you guys remember we were watching   for waiting for this golden cross on the daily the 
50 and 200 now looking to cross eminently perhaps   tomorrow maybe two days away we had originally 
speculated the 15th of september that was kind   of a crown original and here we are on the 13th 
and looks about there too why i think our timing   was on something that we did say something that 
was important that was another crown original   is we are looking for price to move closer to 
this cross as it approaches and though it didn't   really do it in the style we would prefer you can 
see the market agreed we had a nice sell-off we   found support on the 50 daily and now we're right 
at the cross this is good news uh i couldn't tell   you why but it does seem the farther that price 
is from the crosses the less reliable they become   we see that back here price not really close to 
the cross didn't really play out like a death   cross at home but i'm actually feeling good about 
this cross price doing what we wanted it to do   just a little bit uncomfortable hopefully you 
guys out there doing okay 42-2 still untouched   despite this selling and something interesting 
i noticed today well let's play in league   this whole part this whole may june july the 
sell-off starting to look on smaller time   frames a lot like what we have here we zoom into 
maybe the hourly we see something pretty similar   we have that long wick and then we have our lows 
coming down we may see a slightly lower low and   that could put us right on that 42 2 area there's 
our little two cent take we're definitely going   to get into more ta so i wanted to look at news 
here because we had a news related event today   uh litecoin i guess there was some misinformation 
published about walmart and accepting litecoin   etc we saw litecoin go nuts into this so did 
bitcoin and now we're really sitting on the cusp   of recovery from the events earlier today pretty 
exciting stuff to be honest let's take a look here   at both of those charts nbtc pair well weirdly 
the market knew where we were aiming weirdly we   can see that giant top wick this was really insane 
litecoin against bitcoin pair we do see a little   bit of shelfing here we had a consolidation period 
we had this wild wild rally settled back down just   above the consolidation period on the 15 so 
that could be worse that could be worse uh   you guys know my view of news typically real news 
doesn't tend to have impact on price right away   maybe this is a great example wasn't real news 
had impact on price right away litecoin though   not fully retracing this is the important part 
did absorb some of that selling and we saw   actually a higher high which is pretty exciting 
a higher high didn't hold a slightly higher high   there 237 dollars and that eclipse is september 
5th we also see a higher high on our psi that's   excellent um technically this looks pretty sound 
i think there's a play to be made here on litecoin   i'd be looking for that 171 give it a little uh 
wiggle room on the bottom in that consolidation   area and maybe look to play this back up to 
monthly resistance again at 227.

Is it looks   looks like this would have uh actually got stopped 
out by pennies but our trade 227 really was on the   right play wix being jerks um is there anything 
else interesting in the news elon musk new puppy   he got a sheba this guy i used to be the biggest 
elon fan now elon i don't know what what are you   doing with your life you're like adopting a dog to 
be in the news it it all seems so narcissistically   centered it is what it is apparently new 
dodge coin copycat skyrocketed as a result   this is gibberish i hope none of you are out there 
trading this way uh certainly what dog elon musk   buys shouldn't be a factor of our investing um 
where's the one i was looking for shaq weary   of crypto it says it's too good to be true good 
thing we don't take investment advice from shaq   can ethereum pull off a 40 hike by the end of 
december that's an interesting one not really   news more of a question um sure why not it's 
possible it's not really news it's just a question   uh big here it is bitcoin exchange reserves lowest 
in three years this is actually what i wanted to   get at we finally found if you're a patron you 
already got tipped off about this you already got   some insights on it uh however if we take a look 
at quant data or glass node we see that supply on   exchange is very low for bitcoin you guys know i'm 
not a huge on-chain metrics guy if i could find it   not a huge on-chain metrics guy in general but 
sometimes sometimes it's worth looking at all   exchanges reserves here's what we were looking 
at this is what that article is speaking of   this blue line represents how much bitcoins on 
exchange the black line represents the price and   what we see here is that in the last jeez really 
since september started there has been a new trend   and that trend is exchanges seeing outflows they 
are seeing bitcoin being removed from exchange   not added on to exchange in a net flow and that's 
very exciting it's maybe this is why i'm not an   unchained metrics guy last time it was this low 
was april 19th that really wasn't bullish right   it's really not a bullish thing at least with that 
one example perhaps that sample size is too small   but what we did see is a reversal of that trend 
we saw inflows come in as price failed to make   a higher high and we saw that extended selling 
period now to see price inching back up especially   with today's wildness to have bitcoin supply 
on exchange so low very hard to interpret this   anyway but bullish really could this from 
april repeat sure but it isn't going to be   a piece of evidence we're going to use to argue 
that it doesn't make sense if there's less bitcoin   on an exchange there's just less potential sellers 
you can only sell the bitcoin that is there yes   we can see whale alerts we can see inbound 
transfers and we should keep an eye on that   but for now this is not a bad sign in fact this 
is a very good sign you can see that's a very   very clear trend looking like it started 
july 25th basically just free falling   supply on exchange if this uh trend continues 
that's going to get very exciting so i'm going to   be keeping an eye on that keeping an eye on whale 
alerts looking for inbound and outbound transfers   uh bitcoin let's see let's see while 
we wait for those alerts we saw our low   coming in 42-8 just above our 42-2 we have not 
seen and this is actually important there it is   mr feels the house signing back up good to have 
you brother we have not seen our golden retrace   this is unusual this is unusual to me this 
suggests that we really won't know the direction   of price until we get to this golden pocket let's 
see where that is 48 8 or 49 one 49 one was a very   important uh weekly level not too long ago 48 8 
i don't actually remember if that was anything   i don't does look as if at the moment 
that rally there it is mr rick mr wreck   get rid of all this noise and i have i have 
a suspicion let's see where we are here so   if we take our highs to our lows we can see 
we're moving back towards that point five   and point six one eight retrace as we always do so 
forty five one for the point five and it's looking   like forty five 5 for that golden pocket 
this is very likely here to be tested   even if we're going to go break this low very 
likely and of course before and more likely the   0.5 45 1 interesting interesting there's so much 
selling going on here and then it just stopped   liquidity was thin and just stopped market 
drifted back upwards this definitely does   not give me the best of vibes not gonna lie 
not the best of vibes on a move like that   um very uh whipsaw very painful for leveraged 
traders interesting here what is interesting   wow what's super interesting this is so markets do 
seem random at times right like today's pump dump   random right but then you look at the math and 
it doesn't feel so random so if we use just our   let's get rid of this if we use just our 
retracement here and our measured moves so our   six our one six one eight r2 and our two six one 
eight these values don't seem so random anymore   i'm gonna go ahead and re-extend these look at 
this overlap are one six one eight sitting in that   golden pocket that we were talking about at the 
beginning of the episode that has not been tested   that's too perfect it's just at the very top of 
that golden pocket our two measured move sitting   at our seven eight six deep retrace and then our 
two six one eight right back to the high that's   wild this wild af the coincidence of these 
just so happening to be the exact measured   move is a little too much for coincidence 
for me um very much implying in my opinion   if 46 9 is broken here's our targets you very 
rarely get anything that overlaps this perfectly   this is definitely definitely confidence building 
uh if we don't think of it that way though and   we just kind of look at our candles here you're 
going to use a channel i think you haven't used a   parallel channel in a while there we go here's our 
parallel channel this is looking pretty familiar   it's looking like a pretty familiar pattern 
definitely get rid of a lot of this again   we see our highs coming down we see our lows 
coming down and that gives us a descending   channel so the good the bad news is well probably 
lower highs lower lows but the good news is that   these typically or at least statistically i don't 
know what i'm doing here break to the upside more   often than the downside so as long as we're 
consolidating here that looks pretty decent for   these retracement targets this is pretty this is 
some spicy price action i'm thinking more and more   for those of you who've been around for a long 
time this is this is looking more and more like   the big spooky we needed a big spooky that's 
what we said i've been around we're looking   for it at 48 000 and we said we need a big 
spooky price has moved up a ton people are   getting confident bitcoin doesn't like confidence 
bitcoin shy bitcoin wants people to question it   no it is not a human note does not think but it 
does not like people being confident in a rally   and a move like this i think has shaken a lot of 
these new positions as it did set a lower low it   didn't invalidate our structure we're still good 
what's interesting is actually it's technically a   double bottom which sucks because i'm not a double 
bottom fan giggity i don't i don't really believe   these are strong reversals and as you can see it 
didn't really lead to one but this low from august   9th is perfectly where this selling stopped 
it's pretty interesting uh let's let's just   review let's review our macro here for a second 
we had two macro trends one is our descending   high trend which we broke august 9th back tested 
it august 12th we had three days in between that's   plenty of time that's a that's a solid back test 
we can take that and then we have our ascending   high trend back tested here on the seventh 
we're the first people to snipe this out   if this low holds if you guys saw that click 
baity video you have yourself a wonderful   position this trend line was looking 
to be back tested one way or another   certainly didn't think it would happen in 
one candle like this but with that back   test if we can hold 42 2 this pattern is complete 
and all of a sudden this is looking for upside   i think if we throw this on i think i did this 
the first day if we throw our fibonacci tool on   and look at our measured moves this is 
where more coincidence starts happening i hate the horizontal line let's do the ray 
we can see our measured move r2 sitting just   above the all-time high this is still where 
i'm looking this is still what i'm thinking   nothing has changed if we trade below 42-2 then 
we're gonna have to go back to the drawing board   it's pretty convenient though don't you guys think 
pretty convenient that this big spooky sell-off   brought us within i don't know one percent of of 
our support target didn't break found buyers uh   hasn't hasn't really made any progress to the 
downside seems a little too coincidental for   me it seems like this spooky plan move i don't 
know it's up for you guys to interpret a lot of   people watch total not enough let's take a peek at 
what's going on so we did catch this golden cross   on the daily for total back in september 1st and 
here is what i really really like about this so   as i said i don't really believe in double bottoms 
i don't really believe in double tops that's   essentially what we had here on total total it's 
slightly a lower high but it's within a margin   of error within the margin of error i would call 
this a double top here's what i love about it one   this rejection though did feel bad barely moved 
price barely moved total market cap we can see   this consolidation level we had before 
is at least for now holding as support uh   not the best here is the 20 daily 
sitting above acting as resistance   this has changed no it hasn't changed cool our 
initial sell-off though found support on the   50 daily wicked back up and now we're kind of 
just chilling at this consolidation level um   you can argue with me all day about double tops i 
i just never seen any significant market in crypto   reverse or yeah reverse to the upside or 
downside on a double top or double bottom   yes you see some kind of reversal but it's almost 
always just locally before the trend continues so   total market cap here is keeping me a little 
bullish it's keeping me a little bullish here   if we can find a close above our 20 daily on 
total i think we're testing new all-time highs   for total market cap and that is well that's 
just dandy that'd just be dandy wouldn't it   money flow on total beeston just straight 
beeston rolled over on the 5th of august and has   really just taken no [ __ ] from anybody it has 
just beasted up look at this awful v wap view op   pulling price back down saying uh no 
you're too far ahead you're too far ahead   money flow doesn't care money flows keeps moving 
up with higher highs and higher lows this is much   more bullish in my opinion than bitcoin at the 
moment daily momentum not reflecting that you see   possible increasing momentum to the downside 
candle here on total after yesterday's waning   but to see this day wrap up with a waning momentum 
candle for the second in a row would be probable   would not be mind-blowing rsi on total hanging 
out at 50.

It's in the danger zone we're in the   danger zone we are not in bear town yet we can see 
here bear town very visible bear town right here   below 50 bear town we can see that we fell 
through it right before the crash in may   and we're unable to break back up above 50. 
we've done that and now we're back at 50.   so what i'd like to see is this break back 
to the upside even if we get a lower high   and we have bearish divergence i'm fine with 
that stay above 50. so far so good i'm really   liking the way total market cap is looking um it's 
definitely keeping my confidence in this rally up   and to be flirting with that 50 line if it 
can just find any kind of bullish energy   it's going right back up let's see let's see if 
uh total has retraced yet so total unlike bitcoin being a good boy this is why i like charting total 
it behaves a little better bitcoin behaves very   poorly we can see total did reach its golden 
pocket it sold off it bounced it touched the   618 and now is in the same pattern as bitcoin we 
see our lows coming down our highs coming down that's very nice very very nice what's okay i see bounced here it's weird 
because on the daily it touches it and on the   four hour doesn't total is a calculated chart it's 
calculated meaning it's not going to be perfect   it is subject to change um interesting we have our 
high and our measured move similar to bitcoin this   is these fib levels are too they're too good 
same thing here with our fibonacci extensions   we have our high at virtually the same price as 
our measured move here that's very exciting that   means or suggests that if we can break our high 
here on total at the golden pocket that we're   going to be looking to retest our highs that would 
play in with what i was talking about in double   tops we rarely ever in crypto see a double 
top do something like that and i say rarely   and i mean i have no examples of it i don't i 
don't know if i've ever seen it really happen   what we typically see is you get a double top you 
get something spooky and then you get a test of   that high again and what you paint out there is 
a beautiful pattern the pattern we want to see   want to see multiple tests of resistance and 
we want to see our lows coming up maybe we get   a third one we haven't really been seeing that 
triple o play out often we've been seeing a move   past the highs and then a back test to some kind 
of measured move not even the highs we've been   seeing stuff like this so that's where my eyes 
are looking on total i like the way it looks   you'll like the way you look i guarantee it 
uh this is a little secret chart here but it's   time to come clean total is doing something very 
cool and this is why we've been watching it since   back here honestly we can even take it all the 
way november of last year so almost the entire   time we've been rallying total has 
been in a very interesting channel   we identified this actually way before this i 
have to find the other chart but what's really   cool about it is if you extend this channel back 
and this might not be right because nope it is   if we extend this channel back we can see that 
perhaps this channel has existed for a long time   we see a lot of price action messing with it uh 
our fall right here and into the bear markets   bottom in 2018 we see consolidation at the middle 
of that channel and we see that uh what july   2019 june 2019 high perfect touch to the top of 
the channel it rejects and then we fall out of it   only after we broke 20k on bitcoin did we re-enter 
that channel what's really cool is you can see   this playing back here as well uh you're not 
gonna be able to see that it's probably behind me   we can see price interacting almost perfectly 
with this channel so what does that mean   well we've been speculating we're looking 
for the second phase of a of our bull market   we're looking for that second phase and this is 
on crypto total so we would say this here could   be phase one and this would be phase two 
so we're looking to leave this channel and   we're looking to go parabolic that is my honest 
opinion um top of this channel now above us on   the weekly is about 3.6 trillion are one six one 
eight measured move sitting at four point three   ah and that doesn't really overlap until november 
but again we're looking to break the top it can   happen today it could happen in two months three 
months we're looking to break the top and repeat   what we saw back here and that is really that 
parabolic movement up to a blow off top and then   to fall back down and return to our channel so if 
we use our patterns let's use our bar pattern here   i want the pattern after it breaks the high 
and after it falls back in something like that there we go something like this so 
whenever it does break out of this channel   we're looking for something similar parabolic 
run up and then a drop back into the bottom   of the channel the longer that takes the 
higher that bottom of the channel is um   in bear market we could see we could see 
again though a similar repeat process here   we could lose the channel and come back up and 
what that really would do is give us a very smooth   bigger more macro channel that would be very 
exciting uh but total remains bullish bitcoins   chart looks kind of janky again we didn't have 
the best weekly close yesterday but total doesn't   really agree doesn't agree with bitcoin uh 
after trading below a bearish engulfed weekly   intra week total found buyers before 
the market closed rejected that bearish available close with the bearish engulf 
we saw that happen at this high last time   and do you remember what happened in may we didn't 
get that so we're looking at this low of last week   we're hoping to hold it into this week and ideally 
ideally want to see that weekly move back up to   that 2.3 trillion level that would be excellent 
closing there for this week be pretty spicy let's see let us let us

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