Mind-Blowing BITCOIN CRUNCH! Unstoppable BTC Surge Has Begun!
In this video, I discuss the current state of Bitcoin and the broader cryptocurrency market, noting a slight dip on the daily chart and emphasizing the importance of red candles and consolidation even in a bullish market. I delve into historical data to compare the current market movements with past cycles, questioning whether Bitcoin’s current behavior aligns with previous trends. I highlight the significant role of the Bitcoin ETF in the market, pointing out the demand among advisors at banks and broker-dealers for access to it, which suggests a looming supply shock due to approximately 70% of Bitcoin’s supply being dormant for at least a year. I further explain the relevance of the Bitcoin halving, occurring weeks away, and its historical impact on market cycles, indicating we are entering a phase of supply shock earlier in the cycle than usual. I also discuss technical aspects, focusing on the importance of Bitcoin closing weekly candles above key Fibonacci levels to maintain its bullish momentum. Additionally, I touch on the overbought status of Bitcoin on the RSI but argue that this is not necessarily a concern in a bull market, referencing past cycles where Bitcoin remained overbought for extended periods. I conclude by stating the significance of the current market movements in anticipation of a bullish phase, urging viewers to subscribe and share their thoughts on these developments.
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Intro 00:00
Bitcoin ETF impact 00:35
Bitcoin supply shock 2:15
BTC price at bull market doors 2:55
Understanding Bitcoin dips in bull market 3:45
The next Bitcoin price move 8:45
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*The above video references an opinion and is for news/information and entertainment purposes only. It is not intended to be investment advice, financial advice, or any solicitation, recommendation, endorsement, or offer that you buy or sell any cryptocurrency or securities. Trading in cryptocurrencies and securities is a high risk activity involving risk of loss so please seek a duly licensed professional for investment or financial advice. The information provided on this video should not be used to make any investment or financial decisions without consulting your financial or investment advisor. This video contains my opinion only and is not intended to cause harm or defame anyone or any entity.
Crypto Capital Venture is big on tracking bitcoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a very volatile way, there is much opportunity in being prepared for upside and downside. We also cover Bitcoin news on this channel as it comes out.
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