What we're gon na do? I got an article that I wanted to share with you and then we're gon na get into the tactical analysis. But, first of all, what I want to do is talk about how bitcoin right now is that extreme fear. What we're gon na look at is Bitcoin at its peak fear moment, with the halving coming up guys was that the last final dump that the manipulators were the big whales were doing, and then they came back in and bought it so much cheaper to ride this Up into the having so that's what we're, trying to figure out, as you guys know, I'm more of a trader I like to get in and out. I like to do a lot on the four hour timeframe. But what we're looking today is add a little bit more of the long term holding up into the halving. So is this an area that you would want to be accumulating that's what we're going to get into today guys. So if you get some from these videos like subscribe, hit that notification bell and we're gon na dig into this article, then we'll get into the technical analysis. So what we're? Looking at here this article it's on you today slash Bitcoin I'll, leave that below. But it says Bitcoin price peak fear maybe in – and this is the guy's name – I'm – not even gon na try to pronounce that there. But it goes on to say, decoupling losing the correlation with the plummeting stock market has replaced.
Having is the most crucial point of the Bitcoin bull narrative? What I also want to point out that guys this is. This is bitcoins time to shine. If ever there is a time to shine when you have all this money being pumped back in to the economy, just printing printing printing with nothing to back it, this is the time for Bitcoin gold, silver land, those type of assets, to really shine. In my opinion, at least, but this is really when Bitcoin should step up and with us going into this. Having I don't know how we have extreme fear. At 12, we have basically the stock market's falling apart. I know today they're up right now about a thousand points, but overall guys they're down over 37 okay they're in a bear market, and we have to realize that so they may have some strong reactions due to the news like of the unlimited, basically printing into the Us economy, but overall we have to realize what's taking place there and Bitcoin like we talked about there's only so many that 21 million that will ever be mine. So we really need to look at that in comparison to what's going on around the world and in the market. So what it goes on to say here is with the Federal Reserve announcing an unlimited money. Injection meme authors are mocking the value of fiat currencies. This will certainly result in a new search for a safe haven.
The analysts who accurately predicted the bitcoin BTC price behavior over these recent tough days, claim that one indicator is crucial for decoupling. Well known, cryptocurrency analyst, Willy Wu posted a chart to spark a discussion on whether this notorious decoupling of the safe haven, assets, Bitcoin and gold, with the falling stock market is real. According to him, next week's price and index movements will provide the definitive answer that we're. Looking for and what's he showing here is all the different decoupling like, I said: I'll leave this link down there, so you guys can look at all this yourself because I got a lot I want to get to get into today, but when we just scroll over And we look here: bitcoin investors should be prepared to lose all their money real reason. Behind 10 Bitcoin price crash let's see Bitcoin dead, never to recover crypto trader on general narratives, Peter Brant says zero could be bitcoins future. So, typically, when we see these things taking place and you're, seeing everything that's so negative, along with even like, we talked about that Bitcoin fear and greed index at 12. Right now that extreme fear – and then you add in all these headlines over here, typically guys that's. What you're gon na see near the bottom you're gon na see that type of talk and I really respect Peter brand. I love his charting and everything, but in this I disagree with them. I do not believe Bitcoin will be going to zero.
I don't. I really believe that we have built a strong base of people who really believe in Bitcoin and the fact that guys, you can't just print Bitcoin, just like you, can fiat currency just printed with nothing to back it Bitcoin it takes that energy. It takes that computing power to mine, the bitcoins, they're valuable they're worth something there's, something that's backing them is the energy that went into them to be able to mine them. So we always have to think about that. But this is typically what happens, you get the bitcoins dead and then it goes on a massive rally, or we hear you know on the opposite side, when it was at 20000 everyone's going it's going to a hundred thousand it's going to two hundred thousand everybody's hyping. It up and NAT a lot of the times is when you want to start looking potentially to start exiting your position so that's, something that we want to get into today, as we're gon na get into our charting. But it goes on to say here another analyst, Charles Edwards of Caprio investments, added that there is one indicator that could help solve this problem. According to him it's, it is the fear and greed index continues to rise. The likelihood of decoupling will do the same peak. Fear may also be in now the fear and greed index now highest value and at least 10 weeks or weeks at 10. Excuse me suggest the worst fear may be in for the time being.
If this continues to rise, so does the probability of decoupling. So what you can kind of look at here as it's, showing the fear, fear and greed index at the time of this now extreme fear, yesterday extreme fear last week. Extreme fear last month, fear so that's, something that we definitely need to pay attention to, because a lot of times what everyone's talking about it crashing it's, never going to come back that's the time when Bitcoin shines. So I just wanted to put that on your radar. There that little article there guys, like I said anything in the space, can happen. You always have to be prepared for it and never invest more than what you're able to lose. But when these people are saying bitcoins going to back but going to zero, I definitely don't believe that, because I know there are some traders who definitely would be stepping in as bitcoins falling down even to the thousand dollar level. There'S people who'd be backing up. The truck at 1000, so you know that just that's my opinion, remember that's, not financial advice, but next we're going to get into this technical analysis, so we're gon na look at Bitcoin here so Bitcoin is close to the area that I talked to you about. Yesterday. We'Re still holding this uptrend that's great, we have these higher lows coming in that's, exactly what we're looking for now we're at this previous peak, and that was around that 6800.
What we were talking about yesterday was how we needed to get up above that buy and support off that then come up here and tackle this 200 moving average. On the 4 hour time frame, I love playing the the 4 hour time frame, guys so basically I'll base my trades a lot of times off that four hour. Then I'll give my entry off the one hour or the 15 minute or I'll play. Sometimes, if I'm, just in and out pretty quick I'll play off that 1 hour, then I'll look at that 15 for entries as well. But I really like seeing the patterns on the 4 hour time frame play out. I think that's important for, but if we can make a strong move to the upside well we're gon na be looking at there is that 200 moving average and that's gon na be at seven thousand seven hundred and twenty two that's gon na be the next area. We'Ve been trading below it now, since we lost it, that was February 25th 2020, so that has been basically a whole month that we've traded below that and it's acted as overhead resistance. So for us to come back up there and challenge it, we haven't even challenged it since then that would be important for us and you can see how the trend changes so right now guys this happened back we'll, say March 13, so this is still considered a Short term uptrend that we're in right now we needed to continue into a intermediate term or secondary term trend, but that's gon na take a little bit more time, typically past.
That three week mark one one one month mark into several months, is where you're gon na look at that secondary trend. Overall, the primary trend is down, so we have to be aware of that, but we are having this nice little reaction out of here. What we need to see is more volume, in my opinion, I think that's going to be something that's important for us, then obviously guys staying up above this 6800 and having candle closes up above that now to the downside, because that we always on this channel have A plan for the upside, the downside and the sideways in terms of the downside, I want to see the bottom of this channel hold and this gon na be at five thousand. Seven hundred dollars needs to hold as well as this green trendline. If we start having candle closes below that on heavier volume, most likely that's gon na mean that this trend, here that we're in is going to start breaking to the downside and could get pretty aggressive. But you know guys, we just add in all these factors and we look at things and we say: okay, the the Bitcoin fear and greed that extreme fear. We are starting to put in those higher lows right now, but we need volume for that continuation. So we can start making strong aggressive moves to the upside and start breaking up through some of these critical areas. For us right now, the RSI on the four hour time frame is at 66, so we could have more room to run.
Remember, typically, 70 is going to be that overbought territory anything over 70. So we do want to pay attention to that, but that could be enough room to get us back up to this 200 and the test that which I believe would be important. So next what I wanted to do, as we were looking at this, I wanted to step out to the 1 day timeframes. So we can look at this in a little bit longer term perspective. So, in terms of the one day you can see, we got our nice little move out of here. This wick here guys was almost 19. That wick was so crazy, but that's where the institutional investors, after this climactic dump they jumped in there and they're, probably still even holding from that area that they were able to get it even down in here. You know that 4000 dollar range so they're, probably sitting in a nice position right now that they don't want to give up just yet, but what's, going to be important on the one day. Time frame now is to start having a candle close right up, above that 20 EMA and that's gon na be at six thousand six hundred and seventy eight. I want to see a candle close today up above that on some more volume, that's gon na be important for us a lot of the times this 20 ema20 head resistance for us for quite a while now, so if we could candle close up above that, I Think that could be a big deal.
Then we need to get up above our 40 moving average and that's in yellow and then our 50 and our 200, which is almost going into a death cross now. So we do have to be very cautious about that and guys technicals work, and you know this space is a little bit different. Sometimes you can get one of those crosses to the downside and then you pop to the upside due to manipulation. Everything – but I like to point these things out to you, because a lot of times they will come into play and you can play upside or downside, plays off moving averages crossing okay. So that is something do some studying on it and then look for confirmation as well that's always important, but in terms of the relative strength index we're at 47 on the one day, time frame so we're not overbought we're, not oversold we're, just kind of cruising back And forth right now in that area, which is important for us, so we have enough room to get up to the up side if we are going to continue, but this is the time really Bitcoin should shine guys. This is this: is it let's see if the whales are gon na step in and let's see if they're gon na defend these areas? We had our bullish cross that we were talking about yesterday, histogram ticking, to the positive, but that also needs to come on more volume which is gon na, be critical for us.
Then we can throw on our channels here and just take a look at this we're right up above the middle band we're sitting with support right up on that middleman. So that could potentially be enough. We could find support off that to start making a strong up side move and then we'd start targeting some of those areas guys around even that eight thousand dollar range, which is gon na, be important for us to break up through that we'll. Look at our awesome. Oscillator and I always like to go off price action, just tell you how I like to do things and then I'll, throw in these indicators. I'M, not a huge guy I'm just going off indicators, but you can see we're starting to histogram, starting to tick back up to the positive there. So, while we're missing, in my opinion, we need more volume and we need to candle closed today up above that 20, which is going to be important for us and then, if we take a look here, our doubt right now. So I can show you our Dow is up about 1400 points and that's what you'd expect with what they're talking about, and all this money injection and everything guys we've been down over 10000 points. So I hope we can make up a little bit there. But if we look at Bitcoin and we go into the technical analysis here – what I want to show you on the one day you can see we're just a little running a little more neutral there.
We have a nine cell, 10 neutral nine by oscillators. We have a one cell, nine neutral one by and then moving averages. We have an 8 cell one neutral and eight four by so you can start seeing on the shorter term now they're throwing buy signals on the longer term. We have sell signals over here. We have a lot of neutral, so we're just really sitting in a mixed bag right now. This is the time. Obviously, you want to protect your capital and all that, but you just want to start factoring these things in you want to say you know: do you believe that bitcoin, at the time of the having or leading up to that, is going to be more than 6700 Dollars do you believe in bitcoin that much or do you feel as though we could come back down here and test some of these other levels and that's where you can have cash ready as well? So you have two different plans. If it drops great, I have an opportunity you know to step in if you're doing, dollar cost average and you're looking to invest. That could be a great spot and if it continues to move to the upside, then you're at least in a position which is a good thing as well. So you'll get a little bit of that. And then you can look to add your position. But these are all the things that I like to look at guys.
This is what I like to play and I just wanted to share them with you so check out that article. I will leave a link down low for you, but I think this is an important time guys. You know Bitcoin really needs to step up right now. So like subscribe, hit that notification they'll leave me some love down low. Let me know what you're thinking about what you're doing? Are you in a Bitcoin position right now? Are you still waiting to get in one? Are you waiting in cash and being very protective waiting for even a better spot if we cool down, I want to know what you guys are doing, so let me know down low, even if it's just you know, happy Tuesday or whatever guys, god bless. You all.