Bitcoin Live : BTC Broke Critical Resistance! Episode 620 – Crypto Technical Analysis

Bitcoin Live : BTC Broke Critical Resistance! Episode 620 - Crypto Technical Analysis



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Bitcoin (BTC), Ethereum (ETH), and RIpple (XRP) Analysis. Cryptocurrency Technical Analysis and Cryptocurrency News.

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you tell who I feel like you take me you take me I feel like you take me you take me I feel like you take [Applause] the traders welcome to episode 620 of the show you could be doing anything but you're here and I really appreciate that sorry like kind of running around errands and stuff and my dad's over here we're trying to fix my something with my ring and stuff like that and it's got my new Wi-Fi so like everything's broken right now so anyway whatever but hey man the corn did it right the corns doing it it's doing things 10,000 420 is that a joke nine looking good man looking real good the trade set up from Sunday the 28th holding in there man getting closer and closer closer and freaking close remember the bullish divergence on both oscillators the remember the stats was the first four-hour RSI bullish divergence we had actually seen since February a dish of this year a long time really long time so there you go man don't take heed of that stat that have been throwing out whatever dudes anyway the wick if you can't see it because it's right here the wick went down to like 90 100 s at our stop below X as suggested by Casey Stubbs and the ultimate harmonic first probably taking level is at a second profit-taking level is at C for this bullish cipher so getting closer and closer to it Brad not bad man not bad at all so we're just continuing to climb we broke the critical resistance which was around ten thousand two hundred very good stuff on the daily if you ask me man all right hey what happened as discussed man we never hit the a day at six not yet did if you break ten thousand seven eight hundreds I mean cuz that's a square up up here we know that there's a square up up here but like we can break above that dudes you might not be getting your your 786 the whole market was coveting Ryan oh my god man we got to have it it might have stopped in his tracks on the potential double bottom but anyway looking left talked about this yesterday how good it was we were breaking this area we were around 10,000 yesterday and guess what continuing to climb no real overhead resistance chat historical overhead resistance until eleven thousand two hundred thirty just saying man so good good I guess we can go to good sandwich we've been looking at all right please understand that where we are looking left besides the stuff we manufactured recently there's nothing here there's absolutely nothing here I mean you might have a small resistance at ten eight ten thousand eight hundred but really the overhead resistance 11 – well that's not showing up man no the four-hour that's I got my scuffed Adam and Eve double bottom where's my good one dude did none of that save it all whatever dude I'll just do it right now we'll do a live F is f s– in the chat okay give me a set man so went live early you know price action a little bit of it a little bit of the cause but also because because I it will be a travel day for me tomorrow so I will not be able to be as attentive to content creation because of the again the travel which is cool man you know whatever but sorry man OCD on this stuff kind of sometimes so I do it privately but it just didn't save or something so potential Adam and Eve double bottom and it's not confirmed as a pattern as a real pattern until it breaks 11,000 137 and we know up there at those levels very critical overhead resistance look and left so dude getting up to those levels I'd be great profit taking levels if we can get up there and be really good profit taking levels because if we hit it we may fail miserably and sell off but as it stands now it's beautiful beautiful development and all we did was talk about it but if he didn't believe man whatever and it's not even like it was just an Adam and Eve double bottom developing it was like that bullish cypher that was there and like we didn't get stomped out because the and the thing is we had to have a pretty large rewards on that pattern because were stop-loss was because we were worried maybe I was worried about maybe something stupid like that happening and it not falling below it and it did and we just didn't it was good man it was all good so who's laughing now chat who's laughing now all the people call me crazy I guess I am crazy a little bit but whatever man we all are we are all a little crazy man you didn't know so that's it dude unfortunately with Bitcoin bringing the upside being up 3% today the other big boys they're all down there all in the red today like very little movements with this price action from Bitcoin get rekt okay speaking of interesting though right it does look pretty good how we're just holding the support man but where is the price action you were making you're not really making higher highs then your previous eyes at all – it's just like and you're still very much in the downtrend on a theory up you have not broken out anything jeez man trend is still down Kenya of course trend is down until you break looks like 12k more so alright so I don't think it's an actual real ascending triangle people could argue and say this is the same as that but that's not part of the reaction hi look this was part of the impulse down right when you bought them you want a rally create the so wall sell off and then rally again to the same spot and that's a reaction hi we'd sold again Brad Mitch what first cell level are you suggesting for BTC just a percent or all it was ten eight and then 11 one roughly 10 18 level one yeah that's for me though that that's for me around an intra around ninety four hundred okay so and that's it's really all justified with my reward to risk got a three point zero four roared risk on the first profit or on the first you know reward or risk and then my second one is three point six nine so they're pretty close together but again it's X and a it's of the patterns and that's like you can use Fibonacci but in this situation just felt like we're we were showing the divergence and the shortening of the thrust was really a big part of it to where it's like you sold off but barely and you just held and then you started kind of rounding a little bit whatever the eve Jill thank you for the twenty of it else helps and it's just 50/50 I mean like I don't know like because the thing is we know that it's not just a cypher right not just the bullish cypher now it's like at the time when a to the entry the double bottom had not it wasn't even real it there was no movement there was no action it was like it could have just kept selling off or could have bust the upside there but it went sideways and then a stupid little wick down kind of gave us the rounding action of the the eve bottom and so now it's making me think a little bit more like hey if we could ever break that 11:1 area we've got 11 – looking left so that's not gonna be easy especially you just go straight up to it you might pull back before then maybe we could see some consolidation at 11 1 where we sell-off flag descending broadening wedge pin it's something right give me indication ibly we might break out above the neckline of the potential Adam and Eve double bottom it'll again 11 1 I should be looking at it and you just again like show it right so right up here that's 2nd profit-taking level because that for me is the top of the pattern a cypher pattern but it's also the neckline it's also critical resistance all kinds of stuff up here not gonna be easy to break there's also a square up way up here – also square on the 60-minute yeah square up at major square up at like 10 9 10 9 5 0 alright that's the most Signet the next most significant to square up but now you got to think just remember there's now a square up down here right around 10,000 55 just like there was a square up down here at like 9 7 alright so if you ever do so off there you go man you're very robots on the 60 minute you're at 79 for our you're overbought – man barely though you just got it right like seventy two point six five so nice nice break out of the resistance right and why were we struggling right here well you can call that absorption Blanc was asking or talking about it right I gave the description of it right so what is absorption when you're rallying like this especially double bottom looking stuff you're confirming to the market that the bottom might be in for now at least temporarily your rally up then you hit this critical resistance area is that a joint mitzvah let me hear it man who let the dogs out which side right is it the stock market side or the Bitcoin side because stall market at a nice early you know an open that was nice and then it's the hold President Trump tariffs news came out or whatever and then bull market dumped and larlie brought up a good point there was a no a nice square up on the S&P 500 today so all those exchanges offloaded their position at a break-even price and then the dumpin in came after that shortly after that square Trump tweeted it shortly after the square piz what I mean all right so a self-fulfilling prophecy or was it something bigger it was it people scared with Trump stuff okay so my house about to say something sorry that threw me off crap train of thought we were in a discussion on something it happens sometimes man crab dude because when I get on one train of thought and then it shifts to another train of thought sometimes can be tough to get back to what I was talking about before so want to remind me or something I mean it was the Ilan contribution is that a joint so oh my god hey it's the first of the month best time to join the patreon if you enjoy the stream and you know want to learn more about what I'm doing we learn more about Adam Edo bottoms when we learn about harmonics and we learn about through and on Chi equities to channels and all that is that a joint Bitcoin but stop if I was nice dude shopped up 10% on earnings it gapped up um and then you know I mean dude for the amount of selling it happened on the SP five wonder it was oh yeah it together daily maybe yeah look at this for the amount of selling the market had I mean I guess it was up 10% at 3:53 yeah it's opt-out 350 68 and closed it looks like 340 181 Dane and pulled back that would make sense with the macro but the potential Adam and Eve double top looks like that's getting invalidate it right I mean it was like the same type of setup that big one had but on a daily timescale sorry man just gotta make it right the atom and then you had the eve the nice rounding action it was beautiful of a potential pattern but again you know Bukowski talks about he doesn't trade or wouldn't trade three weeks going into earnings right because stuff like this can happen he doesn't matter what the pattern looks like if your earnings coming up I can just completely destroy any type of pattern alright but yeah I think man a lot of volume came in and you pulled back with the macro look if it's gonna be a lot tougher for this asset to continue its rally if the macro wants to keep selling off macro being again S&P 500 I look at it real quick right now for some people that care you know what don't which is crazy but here you go big bearish engulfing candle right look how incredible was we were beginning to bullish ly engulf the first four hours of the day today $300 and then closed the last you know 60 minutes all the way down and look the rest of the day the last four hours of the daily session you bounce you hit 294 16 look left right previous all-time highs you're back testing and now a monkey-ass set up an alert oh my god chat looking weak hey man look at the four hour that mother of god this bearish divergence on a four-hour hold on a sec all right sorry uh my dad just got a bad transformer so for something or it's gonna get it fixed all right so whoops what's up doing man with the truck oh yeah yeah yeah trendline see all right look at that man like I was like every time you made a high a higher high higher high and a slightly higher high you're making lower levels of relative strength so that's a nasty nasty bearish divergence you know but extremely bullish conditions you know so even with this plan out all right you're getting closer and closer to oversold territory so but you still got some room to run the downside before our plenty rooms around on the daily though right yeah yeah that yeah if you can't hold this looking like your Nick support it's gonna be down to 86 there's a lookout man look out I think we had make this line that weakly I think we had some sort of like ascending broadening ledge we're just like an up slipping flag and I think we broke the support there not good man it's a to red days in a row decent amount of volume on that look at this man 43 on the RSI so marker participants they wanted to they'd have plenty of room to push this to lower prices all right similarly the 16 minutes it was a beautiful man look this is the square up right here the larlie was talking about man okay that was the square of right there hilarious man you opened rallied hit it and then dumped after the square up after the exchange I floated their position and a break-even price see you buy crazy man oh yeah I did want to get no one gets stuck on the stock market since uh crypto connect people got to have their crypto that's cool man I don't really know why you're that concerned I mean we look at a theory I'm nothing dude we're gonna look at litecoin nothing dude nothing yeah you broke out of the downtrend congratulations but very weak follow through you're not really doing anything this thing should be much higher with Bitcoin price action doing what it's doing man think about it if it's not going anywhere when big ones go in places higher when big one sells off this thing's just gonna go so off right could probably fall back into this channel or try or sorry the pattern but hey at least the divergence right here pull a bounce it played out man don't you sleep on bullish evidence on the 4:00 hour man yeah bearish divergence on the daily on the stock market as well yes I I completely agree with you sorry man didn't bring that up hey I don't even have to move my uh yeah there were certainly bearish divergence on them daily yes on both oscillators on the S&P absolutely in the short-term and like that more midterm – right pull it up real quick for you all right so you had that RSI bear separately that's high and just slightly higher high lower those real strengths but then you had not just there you also had think about it a high here and then a slightly higher high here and a much lower level of strength so in the more mid term a little bit more mid term and short term you had it and it has turned into you know five dollars down you know on a on the pretty much the sole the stock market that's pretty significant it's pretty crazy man alright yep so a little interjection right there for you alright litecoin so again it's like okay dude it's actually kind of showing a little bit of bearish divergence on how do you even do that man like how are you doing this come on that ik high slightly higher high and on your slightly higher high there is a lower level of relative strength on the four-hour give me a break man but if it ever did break out okay there's square up at 11779 square up but 131 and those are the major ones but you know I just don't playing a descending triangle or sorry descending broadening wedge this large you know these are targets man on swing trading very large patterns like this this is a man 100% retraced the top of the pattern and the 1 to 72 from the high to low hey bro can you show us what confirmation on a breakout looks like Brad Adrienne thanks for the 1099 euros sure man we have a break good what do we have a break could go on and we looked at it the other day I think it was a stock doe it's just gonna Bitcoin cash for the sake of alright confirmation on a breakout could be right here could be Bitcoin cash where you had price contraction there was a down sloping resistance you broke it look how the price action responded to this down slipping resistance you broke out of it step one what is also what you got you really want okay because it gives the whole market some more confirmation right everyone in the world seen the same thing you're seeing when they plot this you hit this support and you back tested it when it was once a resistance it became support very important all right now we didn't break couldn't go here which is a the strongest form of confirmation but we did rally we had a hammer at a bullish hammer rally but we're not making higher highs yet not yet man so what you want to do I wish I could like simulate like candles and stuff on here but I can probably have in my folder somewhere that breaking good let me see if I made something thanks again Adrian man be under patterns or to be under candlesticks Dayman oh nice okay here we go so this is what a break hook and go looks like okay this was Bitcoin by the way and this is Bitcoin on the way up I think this was like under 10k for sure alright so when you have a resistance and you break the resistance this was an ascending broadening wedge pattern we broke out of it then we back in the next candle we back tested the area that was once a resistance we had seen multiple times as the support and then after that the break the hook and then the go is the bullish engulfing candle so it can be a three candlestick pattern it can also be four five six however many right it just keeps back-testing until you eventually get that bullish and golden candle look it was like a break who can go but then it was like indecision back test three back tests and then another bullish engulfing candle and then see you bye we gone did Hadrian let me know if that helps at all man it's all about how you respond to breakouts are you gonna back test you're gonna fall right back in it because trend lines get broken all the time chat but it's all about their response after the breakout right it is the follow-through price action well gay men do you join us live stream and their like button that bill that sub thanks for the nearly 800 people here with the poor altcoins getting no love but maybe we're just uh maybe Bitcoin cash could be set over higher prices man I mean this is kind of the price action you get on breakouts before a bigger move up something to think about man you just think about uh you could do something just free-balling it man say we're back testing this you can have a pretty tight stop here because there's a decent amount of support horizontal line support all right you just keep it below that and then you could you would have oh my god like I'm Vic one cash them have the opportunity here even a failed man like you don't care about it if it breaks below 306 but this could very well if you can stay above this long enough you might have a shot dude 384 first target maybe the 415 the second target I mean it broke the downtrend it's showing a higher load double bottom bro sorry let me uh who was first I think it was mr. senton they show the trend more clear I don't know man like yeah they just someone else asked about it in the past maybe they share the trend clear but I don't know man it's if look you can study it and study and study and if it works for you that's great man I just stick with good old-fashioned Steve nice and Japanese candlesticks man all right it's just though it is but if you got some system that works for you dude there's so many different ways to trade to analyze assets fine will works for you and stick with it mr. Stinson okay all right let me uh well of course Oh Claudia man-bra thank you for the $8 96 cents of aetherium classic crypto contribution so it's happy you're here man keep on trucking sometimes you can get shown the lights and the strongest of places if you look at it right gangs gangs Andy Claudio man gangs D I think when we were on Sunday when we were like rounding out on that potential Eve bottom of the atom potential Adam and Eve dole bottom like really low numbers people not want like okay dude like now we got people watching cuz big ones moving up it's like well there was bullish divergence on both oscillators I don't know what you're doing you leave the market when there's good opportunity and then you come back to try to FOMO in it's like that's just not how it works man on how it works thank you should be like this man you got to have Bitcoin play ball man but again I just I just fear the way Bitcoin is rallying and these all coins are not they're all in the red today still like how how much how high does Bitcoin have to go for these assets to move with it and at what point does Bitcoin pull back some and then these alts are gonna pull back wait like just as hard as Bitcoin pulls back see that's the problem with these alts right now they're little action going on with them okay

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