Boom shaka laka. What is going on? Everybody really love today's episode. We are going to be talking about this critical point. We are at in bitcoins price, where Bitcoin could either head up to 15000 or down to 4000 and why it is so important. So if you want to find out why stay tuned for today's episode, Music, alright guys now there's a lot of things going on on the Bitcoin charts I'm just going to look at a weekly chart, because this one's giving away a lot of information. I'M gon na share it all with you. So to begin with, we have these two major trend channels that Bitcoin is in okay, the one that I've been talking about for a while. As a matter of fact about three weeks ago, I made a video where I said: Bitcoin has repeated itself, but the first time since December of 2018. I think that was and guess what right I was predicting in that video, that Bitcoin price would break upward and guess what Bitcoin price has broken upward now. What was that thing that repeated yourself? Well, it was a first Green weekly candle after a series of six red candles. That was the first time that happened since right here back in December of 2018. Now I guess, based on that and based on the assumption that potentially this could be the bottom and we might find the bottom of a trend right there, and this would be the top of the trend that, based on that, we were nearing the bottom of the Trend price reversal heading back up towards the top of that trend line which would be around 15000, but guess what there's another trend going on here and, as a matter of fact, we are right in the convergence of it the little wedge right there.
But this downtrend has started back in June of 2019 with the peak there. Well, the downtrend is heading down and guess what we are right at the point there right in this wedge, where sometime between now and March, we're gon na see a breakout either up or down and that'll tell us definitively whether we're heading up towards 15000 or whether We'Re heading down towards 4000. Now why 4000 there's been a lot of predictions about 4000, first off it's, just some stuff about how prior to half things Bitcoin generally sees about 27 decrease over the past two having, since the relative all time highs. So this high 8500 27 decrease will put it down to 63 90. However, there was another thing which not only the hair things, but also there was another thing which is another 25 and both of those happen. That would be bad because I could bring us down a 50 which would be 4300, but at the moment I don't remember. The other thing is now there's, something else to look for actually two other things to look for on the strip. So this yellow line right here this is the weakly moving average. So if we take a look at it the past two times, we have crossed it to the positive into the negative. If we take a look two times ago, when we cross to the positive that signaled the 2017 Bull Run and then when the Bear Run started, we Brokeback through it and it formed resistance all the way until we broke through it again in March of 2019.
Okay, again, another bull run all the way up: Bitcoin 5x until we broke through it again back in September and then looks like we are breaking through it. Right now can zoom in. We are right there. It is forming a little bit of resistance, but if we can close above there, that might be some good things: good news for Bitcoin, okay, but that's, not all folks, because we have here this thing. I keep talking about all the time the tangent to the line back some calculus. I think that was calculus where we learned, I don't remember all math blends together nowadays a whole bunch of stuff that I learned that I never actually use anymore but anyways there we go so they won't. Let me okay, there we go so tangent to the line. Is a great turning point based on the weekly Mac D? Why? Because if we take a look at this, the first tangent line was right here at 13000. We look for the names bottom well. If you would have sold there bought here, you would buy back in write it around 7000 guess what you would on twice as much Bitcoin and same thing over and over again there, but I trade on the daily MACD, because I only have to make a few Trades a month, that's 90 to trade on to our MACD. So far, but you know those are things away, so that was going on with Bitcoin price but there's other stuff going on in the markets.
Willy whoo hoo is my favorite, my fav. I always look to him all these awesome, charts and stuff. I mean he is such a cool guy. I wish I could learn for him. He recently tweeted he's an on chain investor activity, which gives a read of where this may go. Litecoin is already very bullish, while bitcoin is still consolidating around an early bullish swing, so he's looking at unchain investor activity, here's Bitcoin and here's litecoin. Okay, as you can see, this gray line is kind of difficult to see. We'Ll try zooming in a whole bunch. Maybe you can see small this gray line, okay on litecoin already popping up on Bitcoin, not yet. But what he means here is that, in a nutshell, I'm expecting a bullish run of Bitcoin led by litecoin as a confirmation signal. So he thinks that this increase in litecoin in launching investor activity is this signal of where bitcoin may go. Okay, not only that, but also Bloomberg in their crypto outlook January 2020, edition they're, saying Bitcoin 2020 growth on fixed supply, more adoption. So they say that the fact that a store value asset with a fixed supply, increasing adoption is more likely to appreciate in price, will keep Bitcoin supported in 2020. In our view, Bloomberg thinks bitcoin is going to go up in 2020, but that's, not even all a bit pay exact Michael LaVere, no that's who published the article sorry bit bags have Sonny sing.
He predicts that an unforeseen event will take bitcoins price above 20000. In 2020 he points to looming global economic instability as potential catalyst for the price of Bitcoin. So I mean this makes sense. We'Ve seen a lot of places where they have economic unrest. Political rest, like Venezuela, like Zimbabwe, like South Korea, even though they're fine there, but North Korea's, not too hot. Well, all of those places become in price sores. So, potentially, because of all this crazy happening in the world, we might see Bitcoin price, or so all of those things are looking good for Bitcoin me personally. What am I going to be looking at I'm going to be looking right here, let's see if I can draw okay right in this area? Okay, this notch right here! This is important for me to look because this will kind of give an evidence as to whether Bitcoin is going up or whether Bitcoin is going down so that's. What I'm going to be looking for? Also, taking a look for the MACD but I'm gon na say the weekly MACD looks good. This, for me, is a buy signal, obviously not financial voice. You do you, but you know you do you bro whatever, so thank you guys for watching. If you enjoy this episode, make sure to give it a like and also check out the modern wallet hold Bitcoin 3000. Other crypto currencies in an hour earn up to 10 yearly interest in there on your crypto, while holding them safely and securely.
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