bitcoin broke above the golden ratio
right there which is very very bullish
however we are seeing one major warning
signal i want to share with you in
today's and if that warning signal
is playing out then we might see a
bitcoin pullback or a bitcoin correction
in the not so distant future then guys
we are going to have a look at cardano
because cardano just set a new all-time
high which is yeah very bullish in the
crypto space right now but we are also
going to have a talk about some
different subjects in today's video that
was the end of the video i want to have
a quick talk about nfts and we are going
to have to talk about
um the that one of the biggest
investment funds right now is entering
the bitcoin mining firm so a little bit
about the future of crypto so guys all
about that in today's video with that
being said my name is sharon welcome to
the blockchain today the channel where
you subscribe for daily crypto videos
right now let's jump into the bitcoin
price action
but before we are zooming in on the
bitcoin chart guys let me remind you
quickly that if you are a trader and you
want to trade bitcoin or variety of
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if you would drop a thumbs up down below
guys that would
really make my saturday okay guys now
let's dive into the bitcoin chart and
actually
bitcoin is looking insanely bullish as
we are breaking to the 61.80 and like i
said in yesterday's video guys the thing
the structure that is looking bullish in
the price or in the chart of bitcoin is
that we got rejected from the 61.80
which which like i said first touch most
of the time always is a react rejection
so we need to find a higher low
somewhere and that higher lows so far
went actually above
the um fibonacci level that is below us
the 50 at approximately 43 and 600 and
that's already showing us that the
investors and traders they don't want to
wait till bitcoin is reaching that level
no they already buy it up buy it up
while it is slightly above it level and
that was quite bullish with that and
pattern wise that fall in wedge pattern
where we have seen that break out so
this is actually looking very good
especially bitcoin trading above the
61.80
because the longer and stronger we are
trading above the 61.80
the lower the chance that this actually
is a retracement from this drop
but right now comes a big bot and you
have to be careful um with this price
action because we are seeing some
warning signals i want to point out and
that is that on the daily time frame the
declining resistance on the momentum
indicator is still valid so we are still
getting rejected from that declining
resistance on the momentum indicate and
that is not a big problem that is not a
big problem however it will be a problem
if we are going to lose the
61.80 right here so that is going to be
a deterministic level in the bitcoin
price guys and can show us that we might
see a further correction down
right here if we are going to lose that
level because if we are going to lose
that level that is just showing weakness
and if we have a look at previous times
that happens most of the time it wasn't
um yeah that bullish for bitcoin so let
me show you for example right here we
have a top we have the bottom right here
we use the fibonacci retracement tool
right and then we can see that the 61.80
is uh acting as resistance right here
also by the first touch and then
afterwards we are breaking out to the
offside which is very bullish however if
we cannot hold these levels and we are
rolling back over then the moment we
break below the 61.80
that is going to be the warning signal
like okay we've lost that level this was
a potentially a filtered attempt of
breakout right now we might get another
attempt in the future but
it's just a warning signal and a show of
weakness it's also
this is also appliable when we are
looking at the all-time high so for
example right here we have a all-time
high if we haven't seen this price
action yet then we can see the price
trending upwards and surpassing the
previous all-time high setting a new
all-time high however the previous
all-time high cannot act as support and
we are losing the previous all-time high
that is a very very significant warning
signal guys and that is just
showing weakness and as you can see
eventually we just saw a further
yeah if a further drop in the bitcoin
price so
breakouts and reclaiming key levels is
bullish but if we are afterwards losing
them it is
even more bearish so to say
so okay this is this is just something i
would say you need to be watching so the
level below us is going to be the 61.80
at 47
865. if we lose that level uh yeah we
might see a bigger
yeah bigger correction bigger pullback
right here in the not so distant future
because that will um confirm this
bearish divergence as well in the daily
time frame
and yeah so that is the things that i'm
watching and as long as bitcoin is
holding above this level we are going to
uh assume that bitcoin is going to
continue this uptrend on the weekly time
frame things are actually looking good
we are still trading above the 20 week
moving average any 21 week ema so that
is all looking quite good then guys
let's go to cardano in the us dollar
comparative
because carano has just been setting a
new all-time high which is actually
quite crazy um
but yeah so far we are not yet seeing
that much follow through it is weekend
right now so
um you might want to be careful during
the weekend but normally what we are
seeing guys when a certain asset is
breaking the previous all-time high we
are seeing a acceleration of that
uptrend we are seeing that often um
after with bitcoin we are seeing that
also with are so right here we had a
all-time high right and then eventually
we break that all-time high and we see a
acceleration to the offside let's check
if we got more examples right here
so we got an um
we got a all-time high right here as
well we break it we've seen acceleration
all-time high right here we break it we
see an acceleration so
normally it's a very bullish sign when
we break the previous all-time high and
normally that will come with a
acceleration in that uptrend so what we
are seeing right now
in cardano is that we are not yet seeing
that happening we are not yet seeing
that um euphoria are coming in and
really pumping after we have broken
below above the previous all-time high
right here at approximately two and a
half us dollars 2.47
and what we can see guys is that this
pump in cardano is getting exhausted and
we are seeing a yeah declining
resistance off on the relative strength
index which means that we are seeing
right here actually a double a bull a
double bearish divergence with a high a
higher high and another higher high and
doing the opposite any momentum
indicators that is just something to
watch and i would i would definitely not
um yeah longing cardano right now i
would be careful right here and if we
lose if we lose the previous all-time
high guys decisively
then so we break below this level on
this levels acting as resistance then
yeah most likely we can see a further
drop in cardano against us dollars and
that will same as with bitcoin that
would show weakness if that were to
occur but also something tricky about a
bull market is that
when price is consolidating
um it the rsi needs to come down so
sometimes we are seeing that coming
along
with bearish divergences so the price is
going up the rsi is going down that
doesn't necessarily always have to mean
that
things are looking bearish
however it is a warning signal which
makes you
should you make aware of the fact that
the momentum is slowing down because
that is in fact what's happening we are
either consolidating or we are going to
see a correction right in a bull market
it's a sideways consolidation and maybe
slide slightly upwards with the other
side going down and when we are seeing
that bearish divergence playing out we
are losing key support that's basically
what it is so
as long as we are not losing key support
there's no need to act up on with your
um with your portfolio or with your
trading strategy however once we as we
are seeing those signals coming along
after for example such a bearish
divergence then that could be a moment
that you want to actually want to act up
on it so when we are losing a key level
in this case that is the previous
all-time high in bitcoin it would be the
61.80
so that these are just very important
levels to watch then guys i quickly want
to
go to the s p 500 as well
because i actually want that uh yeah
basically that every single one of you
is aware of this chart and that this
chart is going to be
uh very important in terms of the price
action of bitcoin and crypto because as
long as we are
trading in a healthy uptrend right here
in the s p 500 as long as we are not
breaking market structure then
things are quite normal for crypto
normal for bitcoin however if we were to
see a correction
so guys then i quickly want to go to the
regular financial markets the s p 500
because i want every single one of you
to be aware of this chart and if you are
equipped to trade if you are trading
bitcoin you definitely have to be
watching this chart as well and so what
we are seeing right here is that we are
still in this rising watch pattern we
are still in this uptrend which is good
it's also fine for bitcoin but the
moment this is going to see a correction
the moment we are losing this up
trending support right here and for
example we were to come down
to the uh yeah formal resistance of this
rising channel
then that correction most likely will
cause selling pressure on the price of
bitcoin as well and will coincide with a
pullback and a correction in the price
of bitcoin so guys this is just a very
important chart to watch because this
chart can already show you earlier on
that you might have to uh prepare for a
small pullback or correction in bitcoin
because there is still a very direct
correlation between those two then guys
before we are jumping into our next
topic which is going to be about nfts i
quickly want to mention the following
which is that the prime xbt has been
starting their own youtube channel
called prime xpt academy and here they
are talking about uh yeah a lot of
things that is going on in crypto
they're talking about the news but they
also are talking about certain training
strategies they are just starting out so
if you are interested to learn more
about trading crypto to learn more about
prime xp d and to get more news uh about
what is basically happening in the
crypto space then i will leave a link
down below to the youtube channel from
prime xbt and guys soon we will have an
interview with the host right here of
the prime xpt academy which is quite
interesting if you have any questions
you want me to ask him make sure to drop
them in the comment section down below
and if you want to yeah follow this
youtube channel i would leave a link to
this channel down below then guys let's
go to the next topic of today's videos
and that is nfts because nfts lately is
quite a hype it is non-functionable
tokens which means you can create
digital artwork and you can um yeah you
can sell that over on the blockchain so
you can somebody can actually have
digital ownership of a certain
collectible or a certain artwork but
what i want to know guys is i want to
know your opinion are you working with
nfts do you create nfts or are you
active in nfd communities drop a comment
down below and let me know if you want
me to
you have a look now and then at nft
projects and
that we have a talk about that because
some projects they actually um yeah are
quite successful and here you can see as
well for example here you can buy this
dope shiba right now the price is yeah
100 ethereum that is of course a crazy
amount of um crazy amount of money that
is not the offer but guys lately there's
just a lot of interest in the nft
section so guys if you are interested in
nfts please let me know in the comment
section down below and we will be having
a look further to this right here on the
channel then guys i want to have a quick
talk about the following subject and
right here we can see a news article
that states black rock etas holds 384
million of shares in bitcoin mining
firms and so right here we can see that
the sec filings reveal that blackrock
has invested almost 400 million into
riot blocked blockchain and marathon
digital hauling stocks which are the two
leading mining stocks right now bitcoin
mining stocks right now and so guys this
is a really big thing because it's
basically stating that the biggest
investment company of the world where
the most powerful people of the world
are linked to are investing into bitcoin
mining firms i also think it's actually
quite scary and i'm quite curious about
your opinion because bitcoin normally is
something for the people white is
something that um
is against the regular financial markets
and if we are seeing
this
investment company blackrock uh
investing into bitcoin mining firms then
that really shows us where we are
heading in the future this is really
this is not a joke that such a
investment company is investing into
bitcoin mining firms and guys i do think
that this is a very huge thing because
this is basically stating that the
biggest investment company of the world
is taking a huge step into the bitcoin
mining industry
and
yeah this is just really showing us that
even the most powerful people in the
world
they are seeing a future with bitcoin
but guys i'm really curious what you
think about this yes so let me know your
opinion about blackrock buying or
entering the bitcoin mining industry
down below then guys that was it for
today's video i hope you all enjoyed
today's analysis if you enjoyed today's
video guys make sure to scroll below
this video and hit the thumbs up button
that is very much appreciated guys i
want to wish every single one of you a
awesome
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