If we hold above support, then that means that this bullish scenario is actually in the cards. But if we break it then i am sorry, but i’m gon na have to entertain some very bearish predictions like thirty thousand dollars. So i’m not saying it can’t go up or it can go down. I’M saying simply if we hold above here then we’re bullish on the weekly. If we break it, we’ll perish everybody, it is time for mondays with the moon.
I’M here with carl, don’t forget to subscribe down to his channel in the description below. Oh man, is this bitcoin boring right now? That’S what i’m seeing? What do you think carl? What’S going on with bitcoin yeah, i am also um a little bit bored about bitcoin right now, but some huge things could be in the pipeline, so we have to take a look.
A disastrous move could be happening unless we get supported by the bulls. So you know what let me start up on the weekly time frame here. This is the weekly uh weekly candles and the weekly ema ribbon, and you can see here that bitcoin has been holding nicely above this weekly exponential support for many many months here. Getting supported back here in may june and also got a bounce back here in september, and right now we are hanging by a thread, and that is pretty much the um, the bottom line. For my analysis today we are hanging by a thread, there’s literally like the last support here.
If we break the support now, then we are probably going to have to see a big fall, maybe all the way down to 30k again um. So if that were to happen, then that would be something like another 27 down right. That looks like a bear market when you’re that far under the ribbon, that’s kind of what i’m trying to get at here as well. So if we do break the support, then yeah it looks like we would actually be in a weekly bear market, but we have not broken the support. Yet.
Let me just bring out some lines here and i’m going to make this specific line fat so that we can see it very clearly. This is the red bearish line. We have to hold above it because if we break it then that means the bears are in control. On the weekly time frame, you can see such clear resistance from back here in january of 21, huge resistance from back here in june 21. Massive support from back here in september 21 and right now, we’re literally testing this now on the weekly time frame, and it doesn’t take a genius to understand that we need to hold above this level uh.
If we get a beautiful bounce off of this, then chances are that we may see the same type of performance as we saw back there and back there. That’S what i am of course, hoping for just like any other bitcoin bull out there uh. What we saw back from from this point was a um 70 increase approximately in price. Over eight weeks back here we saw a uh. Let’S see if i can measure approximately 70 percent in nine weeks, if we do see a bounce, then the performance could be something similar.
Seventy percent, in maybe eight to ten weeks uh, could put bitcoin at seventy thousand dollars uh in march of uh 2022, potentially um, and i know that in the comments some people will say carl you’re saying it’s going to go up and then it’s going to go Down or up or down, but no guys, i’m not saying that it’s going to go up or down. What i’m saying here is that if we hold above support, then that means that this bullish scenario is actually in the cards. But if we break it then i am sorry, but i’m gon na have to entertain some very bearish predictions like thirty thousand dollars, so i’m not saying it can’t go up or it can go down. I’M saying simply if we hold above here then we’re bullish on the weekly. If we break it, we’re perish um.
If we are going to break it or not that’s up to the market, there’s literally no person in the whole world that can tell you um. If it’s going to happen or not, it’s all about probabilities, as we all know here i mean a trader. An investor has to always rely on probabilities, um and um, and that’s what we’re looking at right now. I would probably expect the probabilities of us getting a bounce to be slightly higher than just breaking down here, because of the fact that, on the weekly time frame, we are still looking quite healthy in my opinion, but we have to bear in mind that, of course, We are bearish on the daily, so the question is: can the daily time frame waterfall into the weekly and that we’re going to find out in the next like one or two weeks here maximum, i think yeah. It definitely feels like something’s got to give one way or the other soon, and you know just just a little bit of opium for people uh the little bit that i’m holding on to myself.
You know back in july, i know for a long time we told people, the price was going to go back up in the middle of july and it did, but there was nothing indicating that was going to happen. There was nothing bullish. There was nothing like super sexy coming, there was there was, you know, no talk about um, you know anything in the future that was going to push the price up. It was just we believe it was going to go up and it did so even though right now, it certainly doesn’t feel like there’s a lot of stuff pointing in a bullish direction, but the last time where we bottomed, we also didn’t have anything like that. So just remember the the momentum can turn you know on on the drop of a dime, so well carl, that’s all we got for today.
Thank you so much for uh coming on the show um any any final points you want to make um. I think like if bitcoin becomes boring, for you guys go out there. Take some fresh air refresh your mind. A little bit. Crypto is a very hectic space and especially in the bull market, when everything is pumping, usually uh people forget that there’s a life outside of crypto as well so go out.
There take a walk and, and think of some i don’t know some business ideas or something. I want you guys to to make cash flow. I think that’s very important. So uh you can buy more crypto in the upcoming bear market, which is of course inevitable at some point: yeah yeah and everybody. If you guys have any comments or ideas on how carl and i can make money make sure to drop those down below, so if you guys have those ideas, let us know we would love to hear your thoughts uh we’re trying to grow business ourselves, uh, but Anyways in all seriousness, though uh everybody, you know make sure to comment down below.
Let us know where you think bitcoin is having to carl. Thank you so much for joining us. Guys, don’t forget to like this video. That’S all i got be blessed. You