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Saturday, January 29, 2022

FOCUS ON THESE BITCOIN PATTERNS…

Welcome back to crypto zeros, i am george, we’re all george. So today i want to talk about bitcoin, it’s hovering above 49. 000. So that’s fantastic. Compared to our recent low of 46 000.

However, it’s not just bitcoin all coins and crypto market cap have gone up significantly within the last two days, so this mean we’re officially in that santa rally, and does this mean that we have found that bottom and bitcoin and all coins are ready to hire? Well, i do have some interesting things to share about that. So, let’s get started so starting with bitcoin. You can see it’s above 49 000. It was actually as high as 49.

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this morning, but we are definitely looking pretty good. Bitcoin is heading in the right direction and i think that 50 000 barrier, that psychological barrier is very important because you could see when bitcoin fell down from 58 000 and a significant drop down to like 42-5. Obviously, there was a flash crash there we recovered and since then, we’ve been hugging this this red line, this 47-8 mark and bitcoin, had a very hard time breaking above 50 000. It tried to do so over here when, when we first fell down right, bitcoin kind of stalled right around 50 000, then bitcoin tried to break it was about 51.7 couldn’t hold over here.

It was about 50 800 over here about 50 000 right. So it’s been having a hard time holding above 50 000. What does this mean? Well if bitcoin breaks this 50 000 mark? That means we finally found that bottom right, the consolidation period, i’ve been telling you guys a lot about reminds me of what happened when bitcoin was stuck in the 30.

Thousands – and i do have something to show you about that, but it it does remind me of that if we can break through this 50 000 barrier. Well, next, stop will probably be about 54 000 and after that 58 000, and then, after that, we’re not too far off from our previous hot. Now, what are some things that do indicate that this is a bottom and we are heading higher. Well, there’s a couple things, so, let’s start with this. This is interesting.

This is from yuri who is charting and using fractal patterns of crypto fear and greed index. Now this is more sophisticated than what i usually use it for, which is just looking at levels of extreme fear and extreme greed. But this is actually plotting it and actually using a fractal pattern to compare what bitcoin went through when it dropped to 40 000 versus now, and if you look at it, if you look at the patterns, it’s very very similar. So, according to this, according to yuri, he believes that we are ready to bounce just like when we were at 40 000. Quite interesting, also, plan c shares this 140 day.

Market realized gradient delta, and he makes the argument that we are bouncing off the support. The same level again from september october time frame right, um we’re bouncing off the same level, which 189 day uptrend followed. Okay, so back right back when bitcoin fell down to about 40 000 ish, it went up for 189 days right basically going to our recent top of 69 000 and, if you’re, using this metric, we’re at that same point, the same point where bitcoin is about to Reverse about to head higher, and if it does, we could see another 189 day uptrend, so both of these are indicating that we are turning up. We have found bottom, we have consolidated long enough and we are heading higher, interesting interesting. What else is there?

Well? This is another one again talking about bitcoin and how it consolidated, and we may be done with consolidation, so this is looking at basically bitcoin going from july all the way to about september. So this is when bitcoin was around 30 000 and you could see that it was many many tops and they were lower and lower and lower until we had that one breakthrough where it was higher than the the previous high right. And if you look at now, it’s the same thing we finally broke through a previous high and – and that is indicating that well maybe it’s finally ready to move higher. So any one of these metrics normally don’t mean a whole lot, but when you combine them all together when all the metrics and patterns and ta and plus you add in the santa rally right, this is all adding up to something and something special.

And lastly, i want to show you this. This is also pretty good for bitcoin, and that is the miners. Look at this stronghold. Digital mining buys additional 9 000 bitcoin mining rigs and not only them terrible by 15 000 rigs. So you could see that the miners, the ones that are supporting this network, the bitcoin network – is only getting stronger.

These guys are buying more and more and more and more miners. You don’t hear about them ever selling anymore. Back in 2018, 1920 there’s been many periods where you see these mining companies actually turning off their rigs or selling it. That’S not the case. It’S all out war with these guys they’re buying as much as they can they’re taking loans against their bitcoin and buying.

Even more right – and if the miners are this confident and they are not selling at all – well, that’s very positive for bitcoin in the long run. Lastly, i want to talk about three different all coins, because there are some significant news about them. Starting with matic manic has been on fire recently, one of the ones. I’Ve been very bullish, and i told you guys a lot about look at this one. Tech dev is looking at the panoramatic now versus ethereum back in 2017, and it’s looking very, very, very similar.

It’S almost identical right. It’S almost identical and the time frames and you look at the rsi. Everything is looking very, very similar, but how could this be well, if you think about it, makes sense, because matic star is a layer, two evm compatible chains that was meant to help dapmaker scale, but since then they have grown into like a really powerful l1, but They are still evm compatible and they’re solidity compatible right, so dat makers could choose if they want to launch an ethereum or a polygon and right now, they’re choosing a launch and polygon. In fact, just last week i covered a story about how there’s more erc20 tokens being created on matic than ethereum right now. So i mean, if you look at it that way.

Well, this kind of makes sense that matic could be moving the same uh same direction as or mimicking ethereum’s direction in 2017, when ethereum had that explosive run up, so we could see something similar with matic going forward. Also, if you look at this opera, which is a browser, it’s been around for quite some time – they’re eyeing polygon for next mobile wave integration, so obviously that’s go. Help i talked about. Reddit is partnering up with polygon as well right. A ton of nft marketplaces, including coinbase nft marketplace, is rumored to be on polygon as well, and there’s just so much going on right.

So it does make sense that polygon could be mimicking what happened to ethereum in 2017 and they’re also broadening their ecosystem with nft and play during games. This is example of one that’s coming out: it’s pretty hyped up, and it’s of course, built on polygon and not ethereum, so polygon right now is definitely doing all the right things and has all the right momentum. The last two things i want to talk about is terra and sheba. I talked about tara last night, so i’m not going to go too much more into it, but i did want to show you guys this. How tara’s tvl is now at 20.

4 billion and that’s way above now, binance smart chain, even though it’s a far distance from ethereum, you could see that tara’s tvl has gone up significantly significantly within the past month or so so in terms of tvl total value. Locked of all the chains, it is sitting at number two above binance, smart chain above avalanche above solana. That’S a pretty big jump and if you look at where terra is on cmc versus, say, finance, marching or solano, or some of these other guys right. It does definitely show that they are undervalued, so you can look at this ratio too market cap to tvl they’re, one of the only ones that’s under two, so quite interesting right and lastly, just wan na give you guys update on sheba as one whale continues to Buy as one whale bought, 134 million of sheba out of nowhere, so if you’re, a sheba fan and you’re clinging on hope that it will continue upwards well. This is very positive, and i also do like shiva overall, because their team is getting involved with gaming to go, come out their own play to earn game.

Of course, they’re still expanding our nft marketplace and shiva swap is still growing. So this is all these are all positive things and if there are whales that continue to buy well, that’s also positive too. That’S it for this update. Overall, things are looking pretty darn good. So, let’s see what happens next smash up the like subscribe to the channel and stay tuned for my future.

Video take care, bye,

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