What we're gon na do today is look at some of the resistance levels that we have to break through, and I also want to talk to y'all about the potential golden cross here, and this is gon na, be our fifty crossing over our 200 moving average, and I want to dig into a little bit of data on that for you guys, so if you get for some from these videos, when I do them guys like subscribe hit, that notification bell share with your friends and we're gon na dig into this. So, first of all, I want to start with the potential of this golden cross. If we are to get it, this golden cross would be our fifty crossing over our 200 last time this took place. I want to show you this here: we're gon na get out our price range. So as soon as that cross took place, we ended up going up roughly around almost two hundred percent. So the reason why I want to show this to you things don't always work out the same, but a lot of the time in this space. You can really learn from history. So if we pull this down – and we take our price meter right here – and we go up close to around that two hundred I'm actually gon na – have to drag this down a little bit if we could get a 200 break again to the upside, we would Be looking somewhere up around that twenty six thousand dollars, twenty seven thousand dollar range, this Golden Cross could be what takes us back to the all time highs and the nice thing about that is if we do get through all time highs and we're.
Far away from that now guys we're just really looking on a longer term timeframe here. If we break up above that twenty thousand, then we would have what's called a blue sky breakout and with a blue sky, breakout price can run astronomically and that's what happened before for Bitcoin, when we went straight up like that and remember guys if we are to Ever go straight up again like that use those trailing stop losses that's. One of the main things I can tell you as I've, been reading about bear markets and cycles as a typical bear market could be anywhere from one year to five years and that's, not something that you want to hobble through. So when you see profit staring you in the face, don't ever be afraid to take it, but I like the fact that we've had our twenty am a crossing over our 200 next is gon na. Be that forty then eventually, hopefully, that fifty and what's been happening here guys ever since we hit that inverted head and shoulders bottom right in here, and it came out of a six month. Downtrend we've been in an uptrend down. What we're trying to do is turn that into an intermedia term uptrend and then eventually the long term uptrend, but when people say that these golden crosses or death crosses don't matter, I would beg to differ greatly, as you can see when the fifty cross down through This 200 and we had this death cross.
We went from around 9500 all the way down to 3100 and that's, how fast it happens and how aggressively so when you see these crosses. In my opinion, you want to be in a position for that because when they happen guys the moves happen extremely fast. Just like you see here once we crossed up above this 200 here we really got things moving to the upside extremely fast. Now, when the concerns that I have here for Bitcoin is the volume profile, do you see how the volume profile is actually going down a little bit here, as our price is going up? We want that continued swell of volume, just like in this uptrend over here. Do you see how the volume was swelling up that's what we want to take place again, but what I liked here for Bitcoin was. We also had this breakout from the six month. Downtrend here, we're, just gon na draw a rough trend line, but we broke out through that and it was on decent volume. It was not the most volume I would have liked to see more. I always want to see more volume when we have a breakout, but it was enough volume as we broke out of here, we broke out, we tested the 200. We came back off that trendline in here guys will sharpen this up a little bit now that we're closer try to get as many touches as we can here. So we go a touch here.
We have 1 2, 3. 4. 5, so we'll go 5 touches there, but when we broke out through this on a decent stick of volume here we actually came back and came close to back testing that trendline, which happens a lot. Then we got that next push up, but what we're gon na need is volume, and, as we continue to look at this here, the next resistance areas were sitting at 1 right now. So this area, right here around 10500, is going to be an area of resistance form. You can see that's all this fight back and forth right in here, then I would look up to around 10000 or I'm sorry, 12000 and then up here most likely around we're going off the real bodies. We will call it twelve thousand nine hundred thirteen thousand dollars. I like, for the most part, to try to go off the real body's, the best that I can, but you can see right now, we're testing this area, this wick that we whipped up to before – and this was back in October, the end of around Halloween time And after we saw rejection there right around this resistance area, we had that big retracement. So this is a big area for us here. What we need to do is break up through that with conviction and then find support off that twenty five hundred dollars, but I like the fact that we're up above ten thousand dollars remember – I talked to you all about that.
In the last article I read to you, bitcoin is only traded up above that ten thousand dollar mark in its entire history over ten years. For about a hundred and seventy two hundred seventy three days now and that's been it. So we really need to find support off ten thousand dollars and not ever drop back below that again. In my opinion, because the Bulls got us up above the 200 moving average up above the fifty and for us if we failed at ten thousand dollars and we couldn't hold ten thousand dollars, which was a previous resistance over here – that we're trying to turn into support Or that we have turned into support, we would not want to start dropping back through that. That would be an extreme sign of weakness if we do so. What we need now is: are these continued higher highs and higher lows to continue to come up in for us, and we need to make these nice strong, aggressive moves to the upside now in terms of looking at indicators, we're gon na get into our RSI. For our RSI, we are up at seventy remember that is traditionally in that overbought territory I like to take it to 84, the cryptocurrency space, because we can get so overextended. I like to go 80 and 24. You guys who haven't listened to me before that's, just what I like to do and I'm also paying a lot of attention to this trendline right in here, and this can be a rough trendline same deal, trying to get as many touches as possible.
As we probably go right around in that area, here, we'd have 1. 2. 3. 4 5 touches. So these higher lows need to continue to stay intact force that's. What completes the uptrend whenever you're an uptrend it's the higher lows that you're paying attention to when you're? In a downtrend it's, those lower highs that you're drawing the trendline off of so that's, something you always want to remember, but take a look: how overextended we can get. We can get up to around 90 here on the 1 day time frame. So a lot of times when you think okay we're at 70 and the runs gon na stop, it will continue to keep moving to the upside, and that just is the name of the game, so we're. Looking at that up around 70. I just want to show you a few indicators here in case we do start cooling down just a little bit power back up and find that strength off this 20 moving average right here. This 20 EMA continued a nice strong move to the upside. The next is gon na, be our stock RSI in terms of our stock RSI, where it's, 60 and 69 right now, you can see we did have a downside cross, but we're just gon na have to wait and see a lot of times. You'Ll see this guys. Will go up and then we'll come down, maybe about 20 points and we'll go back up again and then we'll get a larger dump.
So we're gon na have to see if we do get another pump to the upside here or if this is where we cool back down calm everything down before we make our next move to the upside and that's. What I am anticipating is another move to the upside when we're in an uptrend or you're in a downtrend and it's continued for over four weeks, a lot of times that trend or that rib river will want to continue to the upside or the downside, just like. When we had this six month downtrend here, the Bears wanted to keep that in controlled. We have the moving averages pressing down upon us. We had our trendline pressing down upon us. Now we have the opposite where, in that uptrend and the rivers changing we're, getting those golden crosses, as opposed to those death crosses to the downside, and what I like to do is well just to show you guys here. I always do all my technical analysis and then I want to just look at this just see if I'm, aligning with what the technical indicators are on training view here. So if we go into this we'll click more and right now for Bitcoin on the 1 day chart so that's. What we're looking at! We have a for sell signal. We have a six neutral signal and we have an 18 buy signal in terms of the oscillators we're at four or five and two and that's, because we are in that overbought territory, I'm, quite a few of them and then the moving average is zero for a Sell one for neutral and 16 for a buy and that's, because we're up, above all those critical moving averages like I said I like to use on my chart because I'm trying to take advantage of these big moves, I like to do the swing train or the Short term trading, not so much the day trading but we're up above our 20 we're up above our 40 we're up above our 50 and we're up above that 200 moving average and that's.
What we needed to see to be able to have the trend change and when you continue to look down through here, this will show you. Relative strength is a sell. So, like I said, overbought territory, then you have your stock that's a neutral. Then you can go down through all these. You have your Mac Mac D, which is a buy. You have your stock here, which is a new trol. You have your bull bear. Power is a neutral ultimate oscillators in neutral, and you can actually go through all these and really take a look at them guys even down to the ichi moku cloud, which i haven't gotten into with you all yet, but there's. So many benefits to using trading view that I really like, and you can even take it out to the one month time frame and take a look for Bitcoin on the one month: zero 1014 it's showing a strong buy in terms of the oscillators. We have nine neutral two by zero for the sell and then moving averages well, twelve by one neutral, zero sell. So you know things are looking pretty decent here for Bitcoin and what we want to do is continue this uptrend. Now guys, we don't want to give it back up and start losing some of these critical moving averages, because if we do that that's, when we're gon na get in trouble and that's when the Bulls will want to pull out is if that makes sense.
When you lose the moving averages, just like we did over in here that's when people or investors start, you know getting out of their positions and start taking their profits, and a big thing that I like to use are moving averages and trend lines. When I see a trend line break – and I also see us closing down through a moving average, so a downside break of a trend line and we're closing down through, like that 50 moving average for me, that's when I like to get out of positions, take my Profit wait for a retracement and then re evaluate this situation and that's just what I like to do guys. So, if you get some from this video like subscribe hit that notification bell. I appreciate you all being here with me. They didn't want to hold you too long, but this is something we may continue to have these little retracements, but in my opinion, this trend should continue to the upside. We should start testing some of these higher levels. Some around that 10500 that 12000 dollar range at thirteen thousand dollar range and that's what we need to do break through each one turn it into resistance break through the next one turn into resistance that's.