Name: EPIC BITCOIN INDICATOR DRAWS BTC PRICE BACK TO $10k!
Uploaded: 2020-03-10T23:22:30.000Z
Duration: 7 min 54 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

If you want to see what this looks like happening real time on the four hour charts, the resistance that is ahead.

Everyone Bitcoin the 50 moving average cross above the 200 moving average.

Everybody talking about it is trending on Krypton social.

And the reason it's bullish is because historically, and that's what technical analysis is historical data applying it to current events.

Historically, when this happens for Bitcoin, Bitcoin has a tendency to go kind of crazy. 00:00:49.220 --> 00:01:2.330  So if we're looking at the charts, here's that 50 moving average cross above the 200 moving hours, that blue line above the red line and we can zoom out on Bitcoin and just get an idea of the last couple times This happened for price range we can look at. 00:01:2.530 --> 00:01:10.180  Back In April 2019 we had that 50 moving average cross and we had price gains of almost 200%.

More importantly, if we want this actual current 50 moving average cross about the 200 moving average to hold, we see some really solid areas of resistance.

Right now we have this trend line from January 2nd 2020 or so the last couple months, the last month and 1/2 acting kind of a support as we get these higher low bounces on Bitcoin but currently Bitcoin in the last few days, breaking below that area and now testing the lower trendline.

Bitcoin has a lot of resistance on this four hour chart.

Now that I really just want to talk about wanna look at we don't talk about the four hour chart all the time on this channel.

But I think right now it's relevant. 00:01:53.180 --> 00:02:2.890  So we have that longer term lower trendline, the last you know, month and 1/2 or so Bitcoin kind of trying to make a run for it once again. 00:02:3.160 --> 00:02:14.240  I have this circle here, though, because there's other confluence happening here and that is the 50 moving average this blue line on the four hour and the mental barrier of $10,000.

Now on these charts, we know that upwards of around $11,000 or so Bitcoin has a huge resistance area.

I've been saying that it's more relevant in $10,000.

But now, where Bitcoin is today, this mental barrier of $10,000 has really become a technical barrier as well. 00:02:35.050 --> 00:03:3.280  Now, when we're looking for something toe happen so bullish as the 50 moving average cross above the 200 moving average Bitcoin breaking a key technical resistance area with three con fluent data points could be the key factor that gets that 50 moving average cross to really, really lead to a bullish break for Bitcoin, where we sea, perhaps $11,000 tested rather quickly. 00:03:3.420 --> 00:03:10.930  Now I want to talk about this because it's important if we just look at this new trend that Quinn is in since our previous swing high.

We have a couple of things going on here, right?

Everybody's kind of looking for consolidation and looking for basically a continuation of Bitcoin.

Now we plot this lower trendline here on the four hour chart and we have this falling wedge.

Bitcoin has broken out off and we find ourselves in this very small range from the upper trendline to this huge compliment area of right around 4% that $10,000 area, that 50 moving average area and that's trendline area of resistance, right around 4%.

Bitcoins, currently trading 4% can make the difference on the direction of Bitcoin in the short to mid term. 00:03:53.460 --> 00:04:4.380  Because we do know Bitcoin could have extremely bullish break above these confluence technical resistance areas and start making a move and making new, higher highs and higher lows. 00:04:4.540 --> 00:04:8.890  But there's always the possibility that Bitcoin sees resistance here rights. 00:04:8.970 --> 00:04:19.750  And from this swing high that we had in February 14th around 44 days ago, Bitcoin could be putting in basically a swing high leading into another swing low.

If we tested this area, this trend line here and fall back into this wedge, right, so $9200 could come just as quick as $11,000.

And these are the things that we that we watch for today.

This is the type of thing that makes Bitcoin on the four hour chart interesting to me.

I don't always cover the four hour chart.

But when we're at these very critical areas in a 4% range, kind of getting squeezed into the short timeframe Bitcoins probably getting ready to make a move one way or another.

I think these are the times where we can really sit back and kind of formulate a game plan.

Because of Bitcoin does break above these technical indicators. 00:04:59.650 --> 00:05:3.480  I believe Bitcoin will be hitting $11,000 rather rather quickly. 00:05:3.680 --> 00:05:16.700  We were kind of the falling into this, falling back into this upward trend off higher highs as we see on the chart and breaking previous highs and once again testing $11,000.

That is, if Bitcoin can break through this huge technical area of resistance right around $10,000.

Interestingly, one thing I am looking on is Google trends.

I think we can get a really clear snapshot zooming out on the charts on the 12 month Google trend chart.

And why is that Bitcoin having is 83 days away?

And if we look at Google trends, we can revisit that that June swing high that Bitcoin had and if you look at Google trends.

We have higher highs and higher lows leading into that right in March and then we have April June higher highs, higher lows in terms of Google trends.

And if we really want this break for Bitcoin and we can zoom back out on the daily chart, if we want Bitcoin to continue in this upward trend and even break those swing highs that Bitcoin had in June and we're talking about $13,000 plus, if we want that to happen, you will see this Google trend chart begin to put it higher highs and higher lows leading up to that 100 data point that would see on this graph and those air something's.

I'm also watching from a social indicator.

But as we know, we have to zoom in on these indicators on the four hour chart and we have to look for resistance to be broken.

Bitcoin on the stock, our side, a quicker moving momentum oscillator in that overbought area.

As we see these higher highs, thes swing highs become has been getting falling into this overbought area on the stock car aside right before consolidation back down.

And this is just a yet another indicator that we have to keep an eye on on this four hour chart.

Leave the emotionality out of it. 00:06:58.580 --> 00:07:2.120  Everybody Bitcoin markets on the four hour charts can get kind of crazy. 00:07:2.380 --> 00:07:3.740  It could go either way. 00:07:3.740 --> 00:07:15.480  But what we do know is if Bitcoin breaks $10,000 this time, it really could truly be the beginning of a very, very bullish break for Bitcoin Because the charts are lining up.

Bitcoin is kind of getting squeezed in the shorter timeframe area of resistance.

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