Bitcoin Price Prediction ( Bitcoin Technical Analysis ) BTC $BTCUSD

what's up everybody brad here with the money dad 
channel in this video i want to go over bitcoin   because there are a couple of patterns shaping up 
on this chart that i think are pointing towards   uh higher prices here in the extreme near future 
uh maybe a couple of days maybe a week or so so   i want to get this video out there to notify you 
guys maybe get your thoughts down in the comments   below let me know if you think these patterns 
are going to play out if you if you think they're   legit or not um so i'm going to show you all that 
but i want to just point out uh first before we   get into the patterns uh look bitcoin was up three 
percent today it's up to 57 650 at the time of uh   this recording or this actual second because this 
thing you know bounces up and down like crazy so   by the end of this recording who knows where 
it'll be but uh you know this is monday march   29th and the day in the stock market was pretty 
red uh s p 500 did end up closing right around   the flat line but if you look at the small caps 
and they got crushed uh everything in my list   over here is red i mean not absolutely everything 
but pretty close except for the extreme mega cap   stocks like facebook was up big today um i have 
a video on that by the way i see a very bullish   uh pattern on that one if you guys want to check 
that out if you haven't seen that video yet   uh apple was pretty close to flat but i guess 
technically green uh microsoft a little down   tesla down amazon was up almost a percent and 
google was up a percent so a lot of the mega   cap stocks were up and that's kind of telling us 
that we're seeing a big shift from growth stocks   and the small cap the kind of riskier stocks 
to the more safe plays the value stocks so   it's a defensive move it's not a good sign for 
uh the stock market going forward but it's not   it's not the only sign out there you know it's 
not the it's not like you know that is the uh the   only thing that's telling us which direction this 
this market is going anyway that's a whole another   topic this video is going to be about bitcoin 
i just wanted to point that out because bitcoin   is up pretty big today on a day where everything 
else was was down so let's get into these uh chart   patterns because there's a couple of them shaping 
up like right this second um i have the daily   candlesticks pulled up in trading view right now 
so each one of these candlesticks represents one   day and and for bitcoin that's 24 hours of trading 
because it never stops trading it's 24 7 over the   weekend at night everything so each one of these 
candlesticks represents 24 hours of trading   but these patterns are shaping up in a pretty 
small time frame so i'm going to zoom in a little   bit more on these i'm going to jump down into the 
15 minute candlesticks so let's break that down   and make it look a little bit better so this 
is each one of these candlesticks is 15 minutes   of trading and like i said uh bitcoin trades over 
the entire day it doesn't you know it's not the   stock market it doesn't open at 9 30 eastern and 
close it uh four o'clock in the afternoon eastern   it trades you know at midnight at 
two in the morning you know any time   so you have a lot more data to work with per day 
right you have these are 15-minute candlesticks   and the 29th march 29th starts all the way back 
here right it's a lot different from a stock   where you don't have nearly as many candlesticks 
per day anyway march 29 started right here and   look what we have this big old bull flag going 
on right here and this all happened in one day   right march 29th starts right here so 
you have a bull flag that played out   over the course of one day and it's going to 
project you know it's it's a it's a bull flag   so it's a it's a bullish indicator for the very 
short term because this pattern took one day to   form so we can project you know it's probably 
going to take a day or less to head to its price   target but this is a nice big bull flag it's 
going to give us a nice big price projection   and there's another pattern that i found 
look this is actually the second pattern   that i found but i'm going to talk about it 
first because it has a lower price target so   i'm going to show you guys this one the pattern 
the price projection and i'm going to show you   the other pattern that i found that's even 
more bullish than this pattern and i published   that one already on a trading view if you guys 
follow me my name on here is important imports   made that name a long time ago when i made my 
trading view account a long time ago that was well   before uh any money dad stuff anyway you follow me 
on uh trading view important imports uh you'll see   every once in a while i i publish my trading ideas 
on here there's this publish button you can draw   you know pictures you can draw whatever you want 
on these things sometimes people literally just   draw pictures but no i actually draw you know 
chart patterns or what i think are chart patterns   anyway so let's do let's get a price target from 
this bull flag and then we'll move on to the next   uh pattern that is even more bullish and 
i'll have an even higher price target on   the next one alright so let's do this 
bull flag so you have you start your   flagpole like this right we'll actually bring 
it all the way up to the high so right there   and so we have our flagpole right that's our 
flagpole so that's going to give us kind of the um   the price so we're going to use that the 
size of that flagpole eventually to create   the the price projection but uh we also 
want to make our our flag right so you have   something like this it's not the 
most perfect flag but it's not bad   i would still call that a bull flag it's i mean 
it's close um so you can see now we have kind   of what looks like a flag pattern right you got a 
flagpole you got a flag it's pretty close you the   volume is playing its part you had this nice big 
run up in price right here on increasing volume   right you see the volume is down here increases 
and then as your flag plays out the volume   decreases so that is doing its part so that all 
makes sense so what does this mean well this is   a a bullish this pattern suggests that we're going 
to have a breakout to the upside uh based on the   size of this flagpole so you take this flagpole 
you copy it you paste it so now we have an exact   replica and we start it wherever we think our new 
bull trend is going to start so if we think maybe   this right here is our new low that's the lowest 
we're going we're going we're heading up from   here then we start our new bull trend our flagpole 
right there all right so we start it right there   and this gives us our price projection and this is 
projecting this is telling us we're going to sixty   thousand five hundred dollars on bitcoin that is 
significant because we're currently sitting at 57   just under 57.5 right so we're talking about 3 
000 of upside on a roughly sixty thousand dollar   asset right so three thousand on sixty thousand 
is about five percent roughly right so that's   a roughly five percent move to the upside and 
this is suggesting that it's going to happen   in like one day so pretty interesting stuff 
there um you know is it going to happen are   we going to get a five percent move to the 
upside in one day you know um i i wouldn't   bet my house on it but you know this these kinds 
of bull flags have a pretty high probability of   hitting their price targets now i don't know 
that it's going to hit it in this time frame   but i wouldn't be shocked to see us get up to that 
60 dollar range you know over the next week or so   um i think one day i mean hey you know bitcoin 
does move pretty crazy so who knows right um it   could absolutely rip to 60 000 over the next day 
or so and it wouldn't even be that strange of a   movie that would be totally normal for bitcoin 
right i'm just not going to bet the farm on it   but like i said i wouldn't be surprised if it if 
it did head that way over the next week or so now   why am i zooming out because i have another 
um pattern to show you guys that's even more   bullish than that one alright do you guys see it 
yet any uh long-term followers of the channel uh   see what's going on here let me give you a hint 
let me draw one line give you a little hint what do we got here does that help maybe 
if i get rid of the bull flag that'll help   is that if that's confusing anyone all right 
now what do we see this my friends is a shoulder   upside down so inverted this is a head and this 
is a shoulder and then we have broken out above   the neckline and we're currently retracing 
potentially to the neckline then you test it   bounce off of it and break to the upside for sweet 
sweet gains that is an inverted head and shoulders   and this is the pattern that i already posted to 
trading view um so feel free to check that out   if you want but i'm going to do it in this video 
again anyway just to just to show you guys so this   is the idea of an inverted head and shoulders 
it's another bullish pattern it suggests we are   heading to the upside on bitcoin over the short 
term so maybe uh you know a couple days to a week   and it's got a higher price projection than 
that bull flag that i just showed you so i'm   going to clear off this this yellow squiggly 
line that was just to give you guys a rough   idea of how it plays out now i'm going to 
give you an exact measurement or maybe not   exact maybe not to the penny but but at least 
a lot better than what i was just drawing out   for you so how do we get a price target from a 
head and shoulders or inverted head and shoulders   you take the head the tip of the head measure it 
to the neckline and you however you know whatever   distance that is whatever price change that is you 
add that to the neckline from wherever you test   the neckline and then break out from there you add 
it to there and you get your price target okay so   go over here we're gonna grab our price range tool 
start at the bottom of the head um measure up to   the neckline we get a move of about six thousand 
two hundred and seventy dollars massive move   so i'm gonna grab that copy it paste it nope 
that is that is not what i copied that is the   uh the line from the bowl flag so i'm going 
to copy the price range there we go got a nice   accurate copy this time we're going to move it 
to wherever we think we retest and then head up   from okay so if we think we come down here touch 
the neckline and then head up from there we move   our price uh range to sit wherever we think we're 
going to touch that line right so we start it here   and then we head to the upside from there we 
get a price target on bitcoin of 62 800 that is   significantly more bullish than the bull flag 
right the bull flag hat was targeting 60 500   over a shorter time frame right that 
that one's targeting maybe a day   i said you know to be a little conservative it 
might take as long as a week but um you know   it shouldn't take a week the bull flag 
is suggesting it's going to take a day   so this is suggesting um you know a few days to a 
week we could be at 62 000.

Isn't that crazy guys   uh that would be pretty nice we're talking about 
five thousand dollars of upside on bitcoin um   based on this head and shoulders or inverted head 
and shoulders pattern anyway so wanted to show   you guys those patterns now bitcoin is extremely 
risky it moves up and down a lot so take all of   this um information consider you know all of the 
all the information here um and please know that   i am not a financial advisor and this is just 
my opinion for entertainment purposes only i do   make trades based on these patterns and we have 
done well in the past lately over the last you   know month or two it's been a little rough in 
the market so we have not done as well but um   long-term uh subscribers of this channel know 
that we had a very good fourth quarter of 2020   and we were shaping up to have a good first 
quarter 2021 until uh it got a little choppy   here over the last month or so anyway uh what i'm 
getting at is uh don't make your trades based off   of the information in this video only make sure 
you're doing your own research doing your own due   diligence i'm not a financial advisor um okay so 
i'm just putting this information out there to let   you guys know what i'm seeing so that you can go 
out there and look further into it and make your   own investment decisions based off of your own 
research this is base this is for a trade anyway   this isn't the information to make an investment 
on for me anyway right this is this is for a trade   uh and likewise for any of the other videos that i 
make out there where i'm talking about short-term   patterns i'm not saying i'm not suggesting 
an investment in that stock or cryptocurrency   i'm nine times out of ten when i make these 
videos i'm i'm suggesting at least for myself   a short term trade okay i'm not saying go 
out and hold that asset long term and make   sure you're also putting stop losses on these uh 
trades so that if the bottom does fall out like   what's been happening with small cap stocks over 
the last month or two that you get stopped out of   these trades and you don't lose even more money 
when we just continue to go down and that in that   trade pattern that chart pattern breaks down 
and it's no longer a valid trade trade anymore   so that's one way to mitigate your risk 
the other way to mitigate your risk is   um to take smaller positions in your portfolio on 
each one of these um trade setups i see comments   from people sometimes saying you know the fuel 
cell is 70 percent of my portfolio or or a clean   spark is 90 percent of my portfolio i'm like man 
that kills me when i read stuff like that because   you know if one of those stocks if the one 
stock that you have all your money in tanks   you just lost your whole portfolio you know where 
you got to diversify the risk diversify across   a bunch of different positions don't you know 
trade your whole portfolio in one stock or in one   cryptocurrency um because if that one trade goes 
south you're risking your entire portfolio on it   so lots of different ways to mitigate 
risk out there i'll make a whole   um video on the all the different ways that you 
can mitigate risk it's been on my list to do for   a while so i will get around to doing that i just 
want to throw that out there every once in a while   in these videos because um you know it's important 
guys it really is important it's a that's how you   are going to stay in the game and make money in 
the long term is is mitigating risk okay so that's   what i've got for this one guys i hope you enjoyed 
it if you did uh hit that like button helps me out   uh channel has not been doing too great lately 
i think because the stock market's been down i'm   not quite sure but it seems like when the stock 
market is down the channel doesn't do well when   the stock market is up the channel does well so 
that's what i'm starting to figure out anyway but   hit that like button it helps me out supposedly 
helps the youtube algorithm not too sure but   that's what they say and if you're not a 
subscriber and you have stuck around this long   hit that subscribe button because there's 
something in this video that you like to have   stuck around this long right so i do appreciate 
that hit the subscribe button so you can continue   to see more videos like this alright guys 
i'll see you in the next one thanks bye

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