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BITCOIN BTC BREAKOUT COMING! HUGE PUMP OR HUGE CRASH? | Cryptocurrency News + Trading Analysis Bybit

November 30, 2019


what’s going on guys Patrick here
bringing you a brand new video today I’m gonna to kill of here for you guys full
of information today we’re we talking about is Bitcoin going to break to the
upside or the downside we’re gonna be doing all the technical analysis we’re
also gonna be looking at all coins and a ton of other crypto news that went on in
the cryptocurrency space but guys before we get start with that if you guys are
interested in making money trading cryptocurrencies and make sure you check
out the first link in the description or the first thing in the comments for the
cryptocurrency trade alert group I post every single one of the trades that
brought me to a six-figure portfolio in the group so if you’re a complete
beginner if you don’t have time to technical analysis or you don’t know how
to do technical analysis you can copy my exact trade it takes two to three
minutes to set up and after that prompts to take and automatically for you so it
becomes very very passive we have all coin trades we have leverage trades that
we have the number one community in the cryptocurrency space full of the
smartest people ready and willing to answer your questions 24/7 the whole
goal behind this was to make sure everybody in the crypto space can make
money because although a lot of people think it’s difficult it’s actually not
that difficult and this opportunity is absolutely insane and I don’t want
anyone to miss out so if you guys are interested there is a code for 40% off
just click the first link in the description and you’ll be taken right to
that forty percent off your first month one eight rate example that we had just
finished going through is actually this pump that came in here we were actually
able to secure pretty much from the bottom all the way to the top one of our
take profits was nine thousand one hundred so pretty much all the way at
the top we were able to close that out move our stop losses this move to the
downside didn’t hurt us at all and that was a nice nice day at 10x leverage
which was roughly recommended there was a thirty six percent profit trade right
easy peasy but now let’s look at the overall technical analysis for Bitcoin
what exactly we can expect happening the bigger timeframes the smaller timeframes
and so forth so what I’m looking at right now is this falling wedge as you
guys can tell it a lot of people have been talking about it and I still see a
lot of people relatively bearish I see a lot of people think we’re going to break
to the downside I’m gonna be talking about why we might be actually doing the
opposite of that in just a little bit but if we are in this falling wedge
right now you can see we have hit the resistance multiple times before over
and over and over again so it is clear that this is a resistance line that we
have and again same can be said with the support we have here the support line
several times we have identified our support and
our resistance is now falling wedge if we do look at it online it is an overall
bullish pattern and it’s one that you can see it could mean that we are going
to see a reverse on the trend you see we trade within the falling wedge and then
all of a sudden we break above right over here we come to retest it which is
something very common we see Bitcoin do all the time would not surprise me and
then there’s take off and that’s where we move to the upside as well you can
also note up here if we look at the RSI that we have right now we can see the
RSI is actually moving upwards right we can see the RSI is moving upwards with
several different touches over here however if we look at the actual chart
prices are dropping prices are hitting lower and lower and lower into these
three circles would line up with the three circles over here and again we
could also be talking about a by a divergence happening over here as well
which could also be a sign of a reversal coming in but as of right now a Bitcoin
trading sideways we could literally just trade sideways over here drop back down
continue here and that would not change the overall pattern that would still
mean that we could see a bullish break out even if Bitcoin is down all the way
to let’s say 8400 maybe even if you extend these lines maybe even down to
8300 depending on how you draw your lines but again $8,400 would not be a
bearish sign even if we’re at eight thousand seven hundred and sixty dollars
right now it would not be a bare sign just because we job to these lows we
could still even then break above the resistance line that we have maybe even
come back to retest it like we saw right and then have that full-on bullish
breakout so that’s sort of what I’m looking at right now obviously on the
downside if we’re looking at the bearish side is we do not want to break below
this support over here if we break below we have a confirmed break below here
it’s a bad sign it’s going to mean we are going to see a little more bearish
action there’s a lot of people who are looking at the chart or looking at this
falling wedge so a break below everybody but all of a sudden turn bearish and if
you want to capitalize on these trades for yourself even if you’re not
following myself in the group you should if you want to make money you don’t know
how but even if you are not then you guys can go ahead and sign up to buy bit
or bit mix both of those links are in the description there are bonuses free
money that you get just for signing up and depositing and again the
our tutorials on my channel show you guys exactly how those work and I’ll try
to link those as well but go ahead you’ll be able to leverage these
positions and make even more money when it comes to trading just by trading
within this pattern and then again if we see the confirmed breakout you’ll be
able to jump into that as well just because we’re seeing the divergence
happen here does not mean it’s gonna be a guaranteed bullish breakout just
because the patterns set up does not mean it’s going to be a
guaranteed bullish breakout obviously patterns this pattern is a bullish
pattern majority the time it can break to the outside but that does not mean
that every time it’s going to break to the upside so that’s definitely
something you want to keep in mind patterns do not work 100% of the time so
we do have to stay actively looking and seeing at what’s going to happen if we
can trade within here and then again like I said if we start seeing a
potential breakout we start seeing the actual potential of breaking to the
breaking the resistance or even breaking the support we have to adjust according
to that I would definitely keep an eye out on the volume as well because when
it comes to falling wedge you want to see volume come in before we start
breaking you want to see the confirm break of the resistance with volume
coming in as well so that’s just my tips for you guys if you want to set this up
on your own chart what exactly to look out for that’s what I’m looking at right
now and seeing how I can capitalize the most on these trades using obviously big
mix and by bit in order to leverage and another thing I wanted to share is the
big it’s a Bitcoin fear and greed index and as you know fear means that people
think the price is going down greed means that people think the price
is going up and as the perfect quote and I think those warned Buffy says be
fearful when others are greedy and greedy when others are fearful most
people think we’re gonna break to the downside right now and as you know
whales love to do the opposite of what most people one Bitcoin in general loves
to do the opposite of what most people think and want to happen so most people
think is gonna break to the downside maybe that is the most bullish indicator
we can have that we might actually be seeing some upward price action but let
me know your guys thoughts in the comments down below right now let me
know if you think we’re gonna be breaking to the upside or the downside
I’m gonna read all of your comments to see where exactly most people send to
MIT lie and last but not least before we dive into the news the all coins are
actually performing relatively well again after we saw this huge pump up
with the Bitcoin dominance Bitcoin dominance moving
all the way from roughly 60 68 percent all the way up to 70 almost 71 percent
since then we have actually started to cool it down and I was talking about
seeing this cool off as well coming back down to test this level now we’re gonna
see if we can continue to move down lower which would be a very very good
sign for all cords that opens will continue to be able to breathe and start
seeing some more and more Green Day’s we saw coins like neo I believe it’s up a
good amount we scroll down 5.1 percent I believe it was up 20% at some point you
can see that try in the last seven days it’s been performing relatively well and
we’ll talk about that in just a little bit but market cap 241 billion dollars
we talked about bitcoins almond 65.9% on a coin mark a little different if you go
on the trading view chart Green has broken into the top 100 up just under 17
percent seal up over 16 percent so forth and so far I think for the most part
it’s a pretty green day yeah you’ll see there’s definitely more green than red
in the market however with Bitcoin trading sideways a lot of very very
small movements so most all coins are waiting for a Bitcoin move to see
exactly how they’re going to adjust the Bitcoin trade sideways for longer we can
actually see all coins start to perform green again because all coins perform
their best honestly when big points trading sideways when Bitcoin has big
moves to the upside then some all coins perform very well while others job and
when Bitcoin job goes to the downside most of the time all coins are red as
well however there is the always the exception of one or two that perform
agreeing when a Bitcoin has a big self but for the most part Bitcoin trading
sideways is good for all coins which is why I’m always in favor of a Bitcoin
move and then some sideways action before we see another Bitcoin move
because that’s that Bitcoin move obviously affects all coins trading
sideways allows always to recover and breathe a little bit and then bit quick
and habits move again and that all coins usually follow after Bitcoin so very
simple strategy the way that I look at how the whole flow of the market works
very simple China friendly Neil & Veatch aim they’re surging I talked about neo
being up I believe close to 20% at one point you
guys saw the chart in the last seven days and you’ll see the same thing here
as well it was at 10 dollars and 59 cents now it’s all the way up at almost
$13 not bad up 16.2% V chain also is another one that saw some very very nice
gain and again both of these are backed by
China and at least the Chinese the Chinese have started to push blockchain
through the media and that is obviously given way for a lot of Chinese projects
the good projects to grow in neo & Veatch eight are two of the top ones and
are two of the best in my opinion but don’t think that just because most
people think we’re going to be bearish that we’re that the big names are gonna
I think you we’re gonna be bearish we still have two hundred fifty thousand
dollar Bitcoin predictions we still have one million dollar Bitcoin printed
predictions and then obviously we had the bearish predictions as well but for
the most part Tim Draper still steady on is $250,000 Bitcoin prediction by the
year 2022 now that’s no fun right now if we consider that you know John McAfee
thinks we’re gonna hit 1 million by the year 2020 then 250 K by the year 2022 is
a big sell-off if both of those were right right but yeah I don’t know 250 K
2022 sounds a little more likely than 1 million by the year 2020 but it’s crypto
it’s big point anything can happen at this point I think oh I think these are
fun for us to take a look at for us to you know read through see the thought
process he thinks it’s gonna be because of Lightning Network again a lot of
people have their pros and cons when it comes to that a lot of people have
specific feelings when it comes to that but for remember at that 2022 it’s still
like three years away so a lot of growth can happen in this market and I do think
it’s possible for Vic 110 250 K of course after everything that’s happened
if you look at the chart from the beginning when Bitcoin first started
it’s definitely possible right Vic we’ve done crazy things it’s definitely
possible is it likely I’m gonna leave that up for you guys to decide I’m
trading on the day-to-day I’m not gonna be wait for Bitcoin to hit 250 K I’m
gonna be looking at these smaller timeframes the hourly the for hourly the
daily not the 2020 $250,000 right now back also came out with news they’re
gonna be offering cash-settled Bitcoin futures looking to beat their rival to
see if a groups actually gonna be taking them head-on again a lot of people had
some specific thoughts when it came to this this was announced in Singapore I
believe but overall yeah not gonna go into too much detail into this right now
because I did want to talk about 65,000 Swiss retailers being able to accept
Bitcoin apparently this is going to happen relatively soon look who it is
over here on the side as I she’s pretty fine to see now 665,000
merchants across switzerland they’re going to be able to start accepting big
planet as you guys know and I’ve done videos on this channel about this before
I’ve actually bought stuff off Amazon and stuff off of Newegg I actually
bought Bose headphones the new ones off of Amazon and I bought a notebook which
I actually use every single day from Mont Blanc from Amazon using Bitcoin I
did that using big pay so this again obviously great for dobson 65,000
merchants but we’re already seeing the ability to spend Bitcoin for everyday
purchases this is obviously through a third party but it’s step one in the
fact that you can use it in a lot of very known places it’s very very cool so
if you go and bitpay the website obviously they are the third party some
websites have them integrated like new web where I bought my Bose headphones
they had them integrated where you are on the Newegg website and you just check
out the way you do al with Visa whatever and you can use Bitcoin and there you go
on some of the other top crypto occurs as well there’s also the option of going
on Amazon and buy or buying gift cards for Amazon for Delta and you know
hundreds I believe of different places some of the big-name places that you
have also you can buy jewelry tickets to the Dallas Mavericks they’ve integrated
with bitpay and all that so I’m hoping to get a video about buying NBA tickets
soon because that’s definitely something I want to do as well using crypto all
you have to do is go to a company go to bitpay directory you’ll be able to see
all the ones that they have access this is not a paid promotion by any means I
make no money by this but if you if you are interested in spending bitcoin this
would be a good place to do it I did it it worked out well I got all the
products I ordered and I was a very very happy man but again it just shows the
adoption that’s coming in a lot of people aren’t talking about it because
they don’t want to be spending their Bitcoin which makes total sense if
you’re aiming for that 20,000 that $250,000 Bitcoin but again securing
profits specially since I trade here and there I do like to secure profits I do
like to then be able to use those profits for certain things and this is
one of the things that I can use that money on but guys thank you so much for
watching I hope you guys did enjoy this video make sure you check back on Friday
for the crypto giveaway that we do every single week but guys thank you so much
for watching I’ll see you guys on Friday for another video

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