BITCOIN PRICE PREDICTION 47000 AFTER CRASH 2021
BITCOIN PRICE PREDICTION is doing something very interesting we are currently in a deciding moment for the bitcoin price because if we cannot hold this exact level just here we could be in for a little bit of a short term cool off as is actually talked about around two weeks ago on
the channel when i shared this prediction just here we’re also forming a brand new pattern that I will be discussing that gives us some new price targets to pay attention to and on top of all of that I’ll be going over this important fundamental bitcoin charts and this important chart and this important bitcoin chart all of that in this video and more so make sure you’re watching the entire
video so that you’re not missing out on any of this important information so right here on the bitcoin us dollar chart on the four hour time frame and as you can see just here at the time of filming this video the bitcoin price is currently retesting the 21 week
moving average this is coming in at roughly around 44 and a half thousand us dollars give or take so if we start breaking below this level start breaking below 44 000 with some sort of confirmation on the chart so either a spike or surge in volume or a retest of
that level to confirm as resistance to the downside any confirmation like that on the chart would essentially mean that of course we are breaking to the downside and we would be in for a little bit more downside price action if this exact level does not hold if you’re
wondering why this moving average is so important for bitcoin if you’re a new viewer on the channel definitely check out my last bitcoin video that i posted yesterday on the channel because i went into more detail about why exactly this 21 week moving
average is a significant level to pay attention to for bitcoin also when you’re simply taking a look at the price action right here on the four hour time frame we are forming this double top formation this right here is basically just the opposite of a double bottom
pattern like what we saw around a week ago approximately nearly two weeks ago now when we had a short term cool off found a low just there came back up and then it came back down to form another second low that was pretty much at the same price as the first initial low and then it was after we saw that bounce and broke above the center line just here this actual middle line just
Here at that stage just there that’s when we were confirming this uptrend to continue because also we did actually see a successful retest of this level just here and on top of that we saw a spike in volume so that’s why it’s important to pay attention to the confirmations on the chart but yeah if anything like that plays out once again that means we’re actually looking bullish after a
double bottom pattern but considering the fact that we are in the opposite pattern from a double bottom once again we are in a double top formation if we actually do break below this line once again with confirmation then i would expect something similar to
what we saw back here but simply the opposite so just a short term call-off perhaps down towards these levels just here in fact we can actually measure out the exact price target for this pattern checking out the price target that is actually coming in at roughly
around 42 and a half thousand us dollars and zooming out a little bit when you’re actually bringing out the fibonacci retracement tool from this low at roughly around 29 000 up to the recent high at around 46 and a half thousand approximately as you can see
just here we have the first fibonacci level the 23.6 fibonacci level coming in at roughly around 42 and a half thousand us dollars so in around 42 and a half to 43 000 just there is our first initial support if we cannot hold this 21 week moving average coming in at roughly around 44 and a half thousand so if you’re wondering exactly how i will be playing this of course.
- BTC PRICE PRIDICTION WITH FIBONACCI TOOL
Do your own research for your strategy but how I will be playing this is if we do see a break to the downside here I would actually consider this as a buying opportunity I will accumulate some more bitcoin down at these lower levels and any bitcoin that I’m buying on the spot market so essentially with no leverage any bitcoin that I am buying right now I am accumulating for the longer
term I’m holding for at least towards the end of this year now of course as you can see here in the RSI we are starting a small little downtrend in the four-hour bitcoin RSI just here this small little downtrend in the bitcoin RSI actually originally started roughly around two days ago just here when the bitcoin price was pretty much just heading sideways once again the RSI was already
starting to head to the downside and this RSI can sometimes be a leading indicator it is an indicator that i use most commonly because it was the RSI that also helped me predict this short-term call-off just here that we saw a couple weeks ago now once
again we were able to predict that exact cool off before it actually happened due to the RSI starting a downtrend before the price even started a downtrend but once again when you’re looking at the bigger picture just here that was only a short-term call-off and that turned out to be a great buying opportunity and so that’s why i do actually consider downside price action in the short term as
a buying opportunity for myself moving forward and considering the fact that we have now had a couple daily candle closers read just recently we have now confirmed this bearish divergence on the daily time frame as you can see just here we’ve formed a higher and a higher height in the bitcoin price but a high and a lower high in the bitcoin RSI on the daily time frame so once again
for the beginners out there that is a bearish divergence it essentially just means that it is unlikely that we’re going to continue to pump to the upside not impossible but unlikely and it’s simply more likely that we’re going to see some sort of consolidation
perhaps over the next few days if not a slight little cool off once again and staying on the daily chart here for bitcoin but bringing out this prediction just here that i did actually make on this channel two weeks ago now so i originally pointed out this fractal
playing out on the chart right back here when bitcoin was at around 38 to 39 000 us dollars after we saw that short squeeze which once again we predicted on this channel two days before that short squeeze actually happened but yeah it was right here just
below 40 000 around two weeks ago now that i did actually point out this fractal that is currently playing out on the chart and as you can see ever since then over the last two weeks this fractal has pretty much perfectly predicted every single price movement
over the past two weeks and right now what this fractal actually suggests for the bitcoin price in the short term is simply a short-term call-off which coincides with a lot of the other indicators and tools that we were just using on the chart but as you can see
here when you’re looking at the bigger picture we are still in an uptrend we are still seeing higher highs and higher lows on the daily time frame over the last few weeks just here so even though a short-term cool-off is totally possible at this stage it is not a
reason to totally panic and by the way for those of you wondering how i actually got this fractal and where i actually picked this price action from zooming out a little bit further i actually got this price action from this area on the charts right here which was
towards the end of 2019 leading into the beginning of 2020 once again zooming in a little bit more to the 2019 price action just here as you can see we actually saw three major lows just here and then a nice uptrend start forming for bitcoin with these short-
term little cool-offs along the way and as you can see that is what this fractal is right here all of this green price action that’s essentially that fractal that is still playing out from around the end of 2019 once again and for the new viewers on the channel that
are wondering about this huge crash that was just around the corner after 2020 started keep in mind that that crash actually happened during march 2020 when the pandemic really first hit the world and everything was capitulating to the downside even the
stock market was crashing to the downside oil prices actually went negative during that time period just there so that crash in bitcoin during march 2020 was very unique to that particular time in history so even though technically speaking.
