Bitcoin Outlook + What The Richlist Shows You



hey everyone what is going on welcome to young and investing in this video we are going to talk about the general market situation we're going to have a look at the crafts at the trading view we're also going to talk about one specific article which I want to point out and with that I want to show you a graph as well as something that I started using a few weeks ago which is a research into the rich list of Bitcoin so the big wheels the biggest Bitcoin addresses what it is able to tell you for the price action that is coming it's very interesting to do and it already proved that it is pretty accurate but let's start here at coin mark capcom so we having a look at the numbers first which is that the mark gap is a one hundred seventy nine billion dollars twenty four-hour volume is just over fifty five billion dollars and bitcoin dominance is 51.1% which is up one percent from last week because bitcoin had a very good price increase and most of the altcoins went down in Bitcoin value over the course of the last week so we see that currently still going on Bitcoin is going down a little bit sitting at five thousand or one hundred ninety two dollars down with zero point seven percent but most of the altcoins are down more they are most of them more than 1 percent down and USD value three percent three percent even some four five six percent as well so overall altcoins going down in bitcoin value one remarkable thing here is that Tron is up five point six percent that is maybe because of the Sun Network which they announced which is a second layer on top of the Tron blockchain to increase the scalability and speed of the blockchain so maybe that is why but it's also just possible that it is just waking up again because from last one that really didn't do a lot it even went down in Bitcoin value quite a lot because a month before it had a very good run as actually one of the first alt coins it had a very good run and then for a month I didn't do anything anymore and then last month so the end of last month and my monthly update I told you guys that I was buying in Iran again because the charts looked very good and I had the feeling that it was actually ready to go up again and apparently until so far it looks like I made a good decision but of course let's wait until the end of the month to really say if it was a good decision or not anyway this is how the market overall looks few greens here and there but most of them are down 3 for 2% so down in Bitcoin value overall let me show you this article right here which says that institutional money is coming back to the crypto market or at least buying institutional products so we are talking about the CME Bitcoin futures as well as the CBOE Bitcoin futures and the grayscale debt coin investment trust so it shows that it is on the rise again so the products are more and more sold again we had a low of 10% a few months ago and that has risen until 19 percent this month so it is up with 9 percent over the last few months or almost doubled so that means that normally institutional money is flowing back into crypto products of course these futures are derivatives I'm not a big fan of that because the money is not going straight into cryptocurrencies or Bitcoin so these derivatives I don't know it's that's not really good for me I think but it shows anyway that the interest is going up again for Bitcoin especially from institutional investors and this graph right here I also want to show you this shows you that we are currently in a smart money phase and the first proof of that is this of course institutional money coming back the first ones are coming back to to investing in in Bitcoin institutional products but we also have this Bitcoin rich list and I think we can also say that this is smart money because these whales these very big Bitcoin addresses what they are doing is probably a sign to where bitcoin is going but we will discuss that in just after this so smart money is the first phase here I think we are currently in a stout phase here under this mean line and I think this take off here will start by the end of the year when I think we will break the $6,000 Bitcoin price and then we will probably go for a first very good run then a first sell off and a bear trap and then later on 2021 or 2022 we will probably go parabolic again but that is only the public stage here and then on here somewhere you need to get out because smart money is also getting out by then institutional investors the second ones they are also getting out by then but the public the retail investor just like you and me is getting in at this point here and then you need to get out what is institutional investors well overall like banks like funds etc they are still waiting for some confirmation that bitcoin is not that they are waiting for the Bitcoin price to go towards the 9k area or break the 6k area because I think between 6k and 12 K we will see a lot of FOMO and probably this will be the institutional investors face smart money here is the risk capital who is actually betting that bitcoin is not that they have no confirmation at all but smart money here the market makers here until we break 6 K then there will be some FOMO I think and this will be this first bull run here and then probably towards 12 K or towards all-time high 20k and after that the public is getting in so very interesting chart as well here which I use a lot of times it gives you some some more information about what will be going on and it is right so far anyway this Bitcoin addresses which I was talking about let me give you some background information so a few weeks ago when Bitcoin was at the lower for case even sup for K so 3,800 etc I was starting to do more research into this Bitcoin rich list addresses because of course this is the smart money these are the wheels and from the point that the wheels are starting to buy in again it shows that you should also start accumulating and until a few weeks there wasn't really so much will activity but over the last few weeks it really started going up so this rich list of the big Bitcoin addresses you see that most of them are buying in right now and that shows that we are currently in accumulation and what was very funny is that a few weeks ago when Bitcoin was like 3400 3800 sorry or 4100 between that price we saw a lot of people still being very bearish and thinking that a price wouldn't break for thousands one hundred forty-four thousand two hundred but would go down to new lows and at the same time I saw that there were literally in the top 100 Bitcoin addresses there was basically no one that was selling Bitcoin and that was very remarkable because I thought like okay everyone is basing themselves on technical analysis and that shows that Bitcoin will go down to a new low but on the other hand I see that this is the smart money these wheels are buying in very big at this point so it was really controversial and it turned out to be that most of the people using TA were wrong and that the accumulation phase really started so that is what you can see right here you just go to Google you type in Bitcoin rich list and the first one is here bit info charts calm and then top 100 rich Bitcoin addresses you see the change if one week and you see the change of one month here this is one that is selling a little bit this one is going up monthly of plus one hundred one thousand four hundred Bitcoin plus eight hundred Bitcoin plus one thousand four hundred Bitcoin plus nine thousand Bitcoin – 2000 Bitcoin plus six hundred Bitcoin plus three hundred Bitcoin 3,500 Bitcoin four thousand five hundred ten thousand Bitcoin twenty four thousand Bitcoin 524 but when you see overall it's like these whales these very big Bitcoin addresses overall they are accumulating at this point which is very interesting and a few weeks ago or last month let's say a month ago it was even more obvious because then literally there were basically no one that was selling Bitcoin anymore so maybe right now some of them are taking already a little bit of profits so that is possible but I think it's very interesting to know what the market is going to do because of course we know that in investing they say follow the smart money smaller follow the big money and this is exactly how you can follow the smart money you can literally see it what they are doing so it's very interesting for you guys to also do that once in a while just heavily having a look at the Bitcoin rich list anyway guys let's go have a look at the Bitcoin chart to end the video we see here on the daily chart that we are currently forming or shaping up an ascending triangle so we see the same hi we see a resistance of five thousand three hundred fifty dollars and higher lows here higher lows higher lows higher lows which it looks very nicely I think so this makes it ascending triangle which is a bullish pattern so I hope to see some continuation what I think will happen after that like I said several times already I think this zone right here between five thousand eight hundred and six thousand is a very strong resistance zone and I think we won't break it from the first time so what I think will happen is later on this we here at the end of the ascending triangle we will break out we will test this area and I think we will be rejected and we will go down and I think we will go down to the lower for case even below for case also possible in the course of the next few weeks and then starting again trying again and maybe by the end of the year breaking through it but we're not so far yet this is how it looks like on a short term I think for the next week it looks pretty bullish but I think after that it will be more bearish for the shorter term but that is no problem guys overall we are I think in an accumulation phase between 3,000 and 6,000 for the rest of the year anyway so that is how it looks for the next seven days probably going to retest this area let's have a look to the weekly chart as well this is the weekly chart we saw last week a huge increase in price of Bitcoin we broke through the 200 exponential moving average to 20 and 50 exponential moving average but we didn't manage to have or weekly close above this 50 exponential moving average so we closed below it and then this week we also went over it again so we broke through it again but we are still right now trading under this 50 exponential moving average so the weekly chart isn't really looking to bullish to me because we didn't manage to to close above it if we manage to close above it this Sunday so by the end of the week then I think that it still looks very bullish as bullish a daily chart but if it's not going to close above it then I don't know if we're going to test the 5,800 area so that is what I think or that is what I think the weekly chart is telling us at this point we can also see here this strong resistance level again which we know was a very good support earlier on bear markets and we tested that several times before finally breaking through it with a lot of violence so I think it will turn into a very big resistance we will see about that so last thing I want to show you what I forgot to say here on a daily chart what is also looking very bullish as of course this cross here which will probably take place later on this week as well so across between the 200 exponential moving average and the 20 exponential moving average on the daily Bitcoin chart that's also a pretty bullish sign so daily looks very bullish weekly will leave me to wait until the weekly close to tell more about how the weekly Bitcoin chart looks like but that is how it looks like at this point so guys that is it for the video thank you so much for watching if you liked it please give it a thumbs up if you are new to the channel please subscribe by hitting that subscribe button down below for more crypto related news for technical analysis for reviews fundamental analysis etc so guys thank you again so much for watching see you next video Cheers bye bye

14 thoughts on “Bitcoin Outlook + What The Richlist Shows You”

  1. Note: at 9:00 the one that is "selling" is a Binance cold wallet. This is no selling activity, but simply BTC going from Binance cold to hot wallet. Probably because people were withdrawing their BTC from Binance to their own cold storage wallet.

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