What I want to do today was continue to talk about the overhead resistance areas that we're gon na have to get over top of, and also the trend line, break that we were dealing with and some Fibonacci as well. I want to make this a quicker video for you guys not a ton different than what we talked about the last video, but there are a few points that I really wanted to dig in here for with you guys. So if you get some from this, like subscribe, hit that notification bell try to make as quick as I can guys. I don't like to waste anybody's time, but there are some important things we need to go over here. So, first of all, what I want to start talking about was this trend line break. So you see in white here we had a beautiful trend line, break guys and right before I started this video. I measured this up here. It was over 30 that we had from this trend line break, and you guys know I love trend line, breaks on the short term intermediate term. In the longer term. This was definitely that intermediate to longer term trend line, break and the fact that we got a 30 move out of there that was beautiful and what it did. It ended up taking us to this first resistance area that we must get over and that's at 64. 57 and that's, where we saw a rejection guys it was this previous high that we had here so now.
What we're looking at is to see if we're gon na get a bounce off this area from the fibonacci. We are sitting directly on the 0.236 fibonacci. If we are to bounce from this area, that would mean this trend is extremely bullish. So whenever you get a bounce from the 0.236 that's extremely bullish, if you get a bounce off to 0.38 that's, a nice healthy trend even to the 0.5 and the 0.618, those are the areas that we would look at for a healthy retracement. But the fact that we may get a bounce here off that 0.236 is significant for us and what I wanted to do is zoom into the Fibonacci here and kind of show you what's taking place so right. On top of this 0.236. The candles are getting extremely tight, guys, there's, a huge fight, so that means a break is gon na come. I can't tell you if it's gon na be an upside or a down side break, I can show you the spots where we need to be prepared. If we are to have an upside or downside break now to the upside, what we would need to do is find support like we're, finding right now off the 0.236 and that's at 56 90 that's. What needs to be defended the next area. I would look up to is that 63 40 we wouldn't need to get over, and that was the previous high that we had and then up to that 64.
57. If we break through that guys, what we would want, then, is for this area in this previous high to act as support that's going to be key for us now. If we are to start breaking to the downside, I look at the 0.382 for a bounce, that's gon na be a 52 88 and then I would look down here around that's 0.5 juures 49 and 63 cents, also that psychological level of 50 – and you can also See how we would have had some support back in here, which was a previous resistance area, and we broke through it on the backside here, because remember guys. This before was a resistance area and we broke through and that's what you want to do. Whenever you see resistance, you want to break through it and then turn it into support that's the key here, but we have a potential for a bounce off the 0.236 here, as the candles are getting very tight and what I wanted to point out to you as Well guys, as we look at these moving averages on the four hour, so as we made this rounded bottom and some people would almost call it almost like a cup and handle type looking deal, but a rounded bottom, because we haven't had that handle portion. Yet. But we're having this nice round bottom here guys and now as the candles get tight, we're gon na see if we can hold this 50 moving average in pink that's.
The main one that I'm concerned about what I'm gon na do I'm gon na get the 20 off here. I'Ll get the 40 off here and I got 200 off there. So what I want to see is a bounce off this area, because this entire uptrend that we've been in basically guys since we have not lost the 50 since January 3rd 2020. So we definitely want to keep having this active support. You can see right here. We got a bounce off it continued to move over. Here we had a nice bullish, engulfing candle. We didn't even come back to this 50. So the fact that we're flirting with this right now with a lot of decreased volume. So after you get this big pump, you have decreased volume and that's the candles getting tight before we potentially could have that next move, but guys, like I said, with the candles getting this tight, the trend is up. We should continue with this move to the upside, but we have to watch Bitcoin as well. Bitcoin dumps then like Quinn's gon na dump as well, and that just is what it is. Then we're also gon na look at this 200 day moving average as well guys. So say we are to have a massive breakdown out of here: we'd want to hold this 200 day or just 200 moving average on the 4 hour, which is gon na be around 46 dollars, but with the volume tailing off the candles getting tight.
The reason why I wanted to do this video guys, was to see if we're gon na get this next pop out of here it's. Basically, a big move, I can't tell you it to the upside or the downside. Yet is gon na be happening very soon whenever these candles get really tight, guys that's gon na, be your sign, but also you got to start looking at things like this. Do you see this downward cross that we had? This was at 58, this downward cross of our 50 crossing down through our 200 ended up, pushing us from 58 all the way to as low as 35, and then right here is. We have this cross back to the upside at 42 it's, taking us all the way up to 63, so there still may be a little juice left in the tank here, guys and that's. What I'm talking about? As we look at this, we want higher highs and higher lows to continue on that's the main thing that I'm looking for here so just be prepared for a break guys. If we do make up side moves. What I have for overhead resistance is 64 57. Then we're up here around 80 dollars and 54 cents, then up around that 102 91 and then to the downside. We'D be looking at those Fibonacci areas that I talked about earlier as well as 50 and then down here around that 200 moving average, which is gon na, be around forty six dollars and 52 cents.
And if we throw on our RSI right now, we are sitting at 50, so we're definitely just neutral here on the 4 hour, we can break it either, which way right now guys the trend in the short term is up. So you traditionally expect us to break to the upside, but this is cryptocurrency anything can happen, but we definitely need to set a new higher high. Then this 64 57, that we saw a rejection off before so, if you guys get something from this leg, subscribe hit that notification Bell wanted to get you a quick one here, but now it's just the time, guys to really watch and see set your alarm so I'M gon na have alerts right here. I'Ll set an alert, it's 53 we'll call it 53. 86 is going to be an alert to the downside that I want to create and then to the upside we're gon na put one at 60 113. So those are gon na, be my alerts or alarms right now, but that's. What I wanted to bring you guys, god bless.