Bitcoin BTC Bounces Off CRITICAL Support?! Cryptocurrency Adoption Everywhere! Bitmex Trading + News


what’s going on guys Patrick here
bringing you a brand new videotape on another killer video if you guys full of
information today we’re gonna be looking at Bitcoin hitting a crucial support
level we’re also be looking at adoption and tons of other news that went on in
the cryptocurrency space but guys before we start with that if you want enter a
chance to win some free Bitcoin all I guys have to do is number one please
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say something related to the video also if you guys are interested in making
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jump into the technical analysis I’ve opened up the V PVR game which is the
volume profile indicating at what range we are going to see support and
resistance because that’s when there is balling that’s when people are buying I
highly recommend looking more into this and trying to implement this especially
if you are beginner and technical analysis implement this to help you
understand a little bit help you identify these supports and the
resistance is one thing we can tell right here is we have a very large
candle showing a lot of volume in this level and what could potentially could
have been support on our way back down reason for this so we can see over here
as well we do have a large area of we do have a large area of trading where we
traded relatively not much happened in this area and so we
built up some volume and we came back down we tested pretty much exactly where
this candle was and then from there we were able to bounce off so that is
really gonna move the download’ baek’s i believe my head is up on top I can’t
really see where my head is right now the way the lay the way the layout is
set up with a video after all the technical issues we had before the way
the layout set up I can’t actually see my face it’s just there when it is being
built but like I said right on this candle right here was the big one and
right on there is where we bounced off the support and started to come back
down now the reason we were dropping is there’s a lot of different theories
number one obviously we tried to break the resistance up here to go higher did
not happen I still believe a move up here would be perfect before a reversal
back down I’m still on that boat for the most part right now I am out of any
leverage trade though so I want to keep that honest you guys and keep you guys
up to date with that scenario I am waiting for a better opportunity in case
of a more confirmed break above this or maybe just a short it if I find the
opportunity up here that’s currently what I’m looking at right now like I
said again if you zoom in you can see the one candle sticking out was our
support range that we bounced off of pretty much perfectly with a journey the
downstream a lot of people are saying it’s possible that the finance
maintenance has something to do with this because previously we’ve seen when
finance goes down for maintenance bitcoins price moves and usually it
moves to the downside so that’s one thing of course this came out several
hours ago it was yesterday it was down for approximately 8 hours so it was one
of the bigger maintenance I believe it was um for eight hours and it was down
and that could have been what led to this move again not a huge drop but a
job nonetheless and got a few people worrying if we were back on our way down
but the bounce off support here good sign for Bitcoin the momentum still
there still looking up on the four-hour with the stochastic
still room to go up on the RSI again room for us to try to break up to this
region I think that would be ideal that would be the perfect scenario to break
up here before trying to come back down zooming out on the daily as well same
thing it can be said look at that tiny candle body with that huge wick same can
be said here in terms of these two castex still has room to go up still
currently pointing upwards showing the possibility of some bullish momentum so
that’s currently where we are on the technical analysis again looking for
some things but the main highlight here again I want to emphasize for you guys
those of you who are not using the V the V PVR yet in your technical analysis on
trading view I highly recommend all you have to do is click on the indicators
type in V PVR it’ll give it to you it’ll be put automatically and that’s all you
have to do it really does help especially for beginners if you want to
find the support and resistance is even more advanced people you want to check
out where the volume is that right there is a good and at what price levels the
volume is that is a good tool to have now let’s move on and look at the
overall market just over one hundred thirty four billion dollars in market
cap with a fifty one point four four four percent Bitcoin dominance in terms
of change we’re only up 0.5 percent that came after of course we had that drop
yesterday and now we are bouncing off that support like we talked about here
the technical analysis and starting to climb our way back up not too much
movement from the bigger cryptocurrencies but if you look at some
of the smaller ones crypto calm chain up all just under a hundred and thirty
percent z coin like I told you guys when we were in a trade is up 90 percent
remain we see V chained up here another very very popular one one of the bigger
crypto currencies ranked number 22 it has fallen a little bit I believe but
still one that is very very popular column one I really really like as well
up eight point just under eight point four percent and so on so forth
definitely think we’re seeing more green in the market after that bounce off the
support we’re seeing few all coins follow Bitcoin in terms of being a
little bit in the green but we do have some red engine down of course I can’t
say I’m surprised I told you guys when it looked like the top was coming in
from there we’ve slowly been dropping back down that was an absolutely insane
pump up a thousand percent up to seven hundred percent on a shorter timeframe
it’s just a few you know in a very short timeframe after that news came out in
the bear market I was expecting to see engine have a little bit of her
tradesmen still I believe a very good cryptocurrency announced the group that
was taking some profits at top and looking to buy in again if I see
it dropped into lower level so it’s looking like we could be seeing that
again keep you guys updated on that situation also where we have project PI
repo rate of coins several cryptocurrencies are down but for the
most part more green than red in the market it’s a green day it’s a green day
and that’s always good to see now moving on to the news though a Bitcoin in a
cryptocurrency movie the Bitcoin thriller crypto starring Kurt Russell
features a theory waves stellar and neo now I’m not gonna show the trailer on
here at first I’m not gonna lie to you guys I did not think this was real and
for the most part of right now I still think it might be a little bit of a joke
before adoption purposes we’re getting a movie out there I believe it’s from an
investor who is being chased by people I don’t know exactly what’s going on
personally you guys want to check this out you can go ahead and do that let me
know if you’re planning on watching this movie when it does come out again we’re
have to wait and see what it does have it but in terms of adoption it doesn’t
really hurt having a movie out there you can see if theorems on their wages on
their Stellar’s on their Neos on there and then separate blockchain don’t know
what that is I don’t believe there’s a cryptocurrency out there called separate
blockchain but we do have four of the big ones on here so that again getting
just giving some exposure for Bitcoin that along with the fact that we’re
getting a lot of ATM spread around just putting the sine pudding
you know cryptocurrency in front of the mainstream media front of mainstream
people as they walk around people do their daily tasks they start to see it
start getting more and more comfortable and familiar with the logo with what it
means with what it does and then with more education coming in and stuff
overall a very positive sign but again the movie I thought it was a joke at
first turns out it’s not a joke so I figured I would share with you guys in
case you have any interest in watching there are some good documentary slash
movies about the cryptocurrency already on Netflix do you guys haven’t checked
that out there is some of the more famous ones on there and those I would
highly recommend watching because it is pretty cool now more adoption news the
world’s biggest blockchain focus ETF it’s going to start trading on London
Stock Exchange this is not necessarily good news that came out today it came a
little bit although while back by doing an update you guys with that situation
again not too much to talk about here just another step in the right direction
for cryptocurrency so while most of most in the cryptocurrency community are
looking forward to a Bitcoin ETF independent investment management
companies Invesco invests Korea which is over eight hundred billion dollars in
assets under management not small by any means has announced the launch of the
world’s biggest blockchain focus ETF so that’s pretty cool to see as well and
lastly I want to end with this this is the part that I think it’s going to get
most people excited and just put some things into perspective before we jump
into this there are ten cities in the world at least I believe there are ten
cities in the world where if everybody wanted to own one full Bitcoin they
would not be able to do so because there’s not enough Bitcoin out there for
everyone to have one full Bitcoin and same can be said with millionaires so if
every millionaire wanted one Bitcoin they could not have one this came out
with a study where there are thirty five point nine million USD millionaires in
the world so millionaires in terms of US dollars and with 21 million Bitcoin
maximum but of course we know a lot of those are already lost a lot of those
people already own so there’s not that many in circulation right now um they
could you know we could definitely have a lot less they could each only have at
most 0.5 a 5 BTC even less if 2 to 4 million like we said was lost and
whatever happened with a certain amount and if no government banks or other
corporations wanted any so putting things into perspective again reading
through the comments was pretty interesting to see but putting things
into perspective where you are an early adopter in this and looking back and
looking at the future and looking at what could happen if if these people
want some there’s only a limited supply they would not be able to print any they
will not be able to create any out of thin air and past history has shown us
that currencies up till now fiat currencies have not been successful and
have not been able to stand in the long run so something has to come out in
order to be able to stand in the long run and that’s where a lot of people are
banking on cryptocurrency if it does overthrow the dollar who knows right now
of course people have different opinions on this a lot of people are in here as
an investment to sell into fiat later and that’s something we have to be
honest about as well a lot of people aren’t here to make more US dollars and
then get out of cryptocurrency with more you
and just have more US dollars in the bank that’s how most people if you like
it or not that’s how most people look at cryptocurrencies but get putting things
into perspective where there is a limited amount and so if you want some
and there’s not enough for you to get you simply cannot have it in the supply
demand there is what could drive the price of very beginner economics supply
and demand if more people wanted that there is available if the demand is high
but the supply is low price is going to increase in the more and more the demand
increases with the supply staying fixed because you can’t create anymore or if
the supply decreases because we lose more as we go
then again price increase isn’t that something I want you guys take away from
this video but if you guys did enjoy don’t forget to leave a thumbs up and
leave a comment down below in order to enter a chance to win some free Bitcoin
and of course be subscribed and have your notifications turned on so you can
check back in to see if you did win so you can go ahead and claim it but guys
thank you so much for watching I’ll see you guys tomorrow
for another video

40 thoughts on “Bitcoin BTC Bounces Off CRITICAL Support?! Cryptocurrency Adoption Everywhere! Bitmex Trading + News”

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  2. There is not enough BTC for every millionaire, but it is interesting to think that there is only enough for every person on the planet to have only a few hundred satoshi. Will we eventually have to split satoshi’s??

  3. Slowly slowly adoption is growing. Keept the faith and be patient guys. Our time will come to shut the mouths of everyone who is laughing at us Bitcoin believers.

  4. Yessssss we are seeing a bounce. About time. After that we are going back down. So enjoy these pric while it last
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