BITCOIN TO HIT 12,000?? CANDLES ARE GETTING TIGHT!! MY TARGETS!



hey YouTube what's going on Chrissy I want to bring you all a quick update on Bitcoin right now we're at ten thousand four hundred forty eight dollars basically guys what we're gonna do today we're going to look at that upside we're gonna look at the downside we're going to see if Bitcoin has the potential to maybe get up to around that twelve thousand dollar area or if we're gonna start heading back down and start testing some of these areas a little bit lower maybe around that nine thousand ninety one hundred dollar area so there's some key things we're gonna give them to today guys if you like these videos you like these quick updates like subscribe hit that notification bell we'll dig right into this I don't want to waste anyone's time just want to get these out as fast as I can to you so what we're looking at now we're really wedged between a key area this orange moving average here guys is our twenty EMA and you can see that's acting is overhead resistance if I can zoom in here for you just so you can see this and then what we're having is support is this 50-day moving average so what's happening is we're getting wedged between these two and the candles are getting very small whenever you see the candle is getting very small that means a potential breakouts gonna happen now we can't say if it's gonna be to the upside or the downside we're gonna have to wait for that confirmation but we're seeing all the signs the candles are getting small the volumes starting to tail off as you can see the volumes starting to decrease right there and that's what happens before we have that breakout and my saying is going to happen today I'm not because guys we could have another day or two where we have small candles in here before we eventually break to the upside there and potentially can challenge that twelve thousand dollar range as well as this yellow trend line that I have overhead which is going to be a key one that we need to break out of or if we're going to start dropping down through this 50-day moving average and come down here and test may be around that 90 408 then ultimately down here around that 9,000 ninety seven dollars is what I'd be looking at and that would be going off this area where we had this bullish harami pattern and we had nice follow through until we whipped up to this twenty EMA and saw some rejection so guys next what I wanted to point out to you here so those my upside upside target if we break to the upside here we're gonna look at around $12,000 to the downside we're gonna be looking around that $9,100 what I do like about Bitcoin has been stronger than many of the other coins is that it's still up above the 50 moving average still up above the hundred and the 200s you all know I really like to play moving averages as support and resistance and they're also going to tell you the trend that we're in in the trend right now is still up so pay attention to that guys also here on the RSI we're looking to see if we can potentially have an RSI trendline break out of here to the upside that's what we need guys we've been having lower highs and lower lows here we need to get a nice clean break out of there if we do want to move to the upside we're at 48 so we have plenty of room to move to the upside or the downside we're sitting in that neutral territory right now so we want to keep our eyes out on that next one here we're gonna go through a few different indicators guys these are my favorite ones that I like to use next one we're going to use the awesome oscillator here and what you can see is we're starting to have that bullish factor play here on the histogram so basically guys you just treat this awesome oscillator like a histogram you can see that it's starting to tick to the positive so that is a good sign there for Bitcoin on the awesome oscillator so we'll call that a little bit more bullish here the next one I want to get into is our stock RSI our stock RSI we're at 34 and 35 right now so we're slightly above that oversold territory right now it's looking like we potentially could have a bearish cross to the downside here but we're gonna have to pay attention because remember guys sometimes just like up here you can come down you can start to get that cross then you can pop back up so you always want to wait for confirmation but we're in that area to where we definitely could still move to the upside we have plenty of room up here to move because we drop so hard and so fast and aggressive here that guys there's not a lot of resistance now to make it up on the back side and also I want you to pay attention to things like this so you see how this is a bearish engulfing candle of this candle here and it also happened with that stochastic cross on big volume that was the time to exit right there and be very patient guys that's what I like to look for at least stochastic crosses to the downside as well as to the upside with candle formations like hammer candles or bearish or bullish engulfing candles those are the things I like to see to the upside and the downside with confirmation of the candle pattern stock cast it crosses moving averages trendline breaks those are the things that I like to do and I like to put those odds in my favor because remember this game is all about putting the odds in your favor all right so here guys on the MACD we're starting to have a positive MACD move right here you can see it's starting to gain a little bit of strength to the upside looks like we may potentially get a little hook a little cross there but has not confirmed yet so right now is still that time in my opinion to be patient and wait to see which side we break out too and also look for that volume because guys if say we have an upside break but it's not on a lot of volume a lot of times that will be a false break or a 5% fail you're one of those different types of things same with to the downside there now downside you don't have to have as much volume as you do for an upside break because naturally the market wants to fall under its own weight so you can have downside breakouts without the significant volume like you'd have to have for the bullish case so always be aware that but it can break out on serious volume to the downside as well which would even confirm that it's a stronger downtrend so volume plays a really key factor guys and you really have to put volume in your corner and know what you're looking for with volume the next one I want to go to here is our Bollinger Bands and with our Bollinger Bands we're basically right below this middle band so we're still in that neutral territory that's where I said guys with these candles getting small we just really we're waiting for that break we're being patient and we're gonna wait for that break and we're gonna see what happens now if you're already in your position then you just want to be patient and you want to have those stop losses in place so you can protect yourself if we do have a big dump to the downside that's what I like to do at least guys I really feel like this space you definitely need to use some stop losses because things can really move so hard so fast and so aggressive I mean we've seen Bitcoin go up or down $5,000 in the matter of five minutes before so you really need to protect yourself you have to have a plan that's what I can't overemphasize but with this yellow trendline right here guys this is gonna be something that we do eventually need to break out of if we can move to the upside and that trend line break there say we do get that trend line break that could be significant to really take us up into some higher numbers for Bitcoin because trend line breaks a lot of times guys you'll see them break 30 40 sometimes even upwards of 50 percent depending on how long the trend line is the longer the trend line the more aggressive the breaks going to be to the upside of the downside okay so guys just want to give you a quick one here I'm being patient I'm waiting to see which way we're gonna break here because truly anything can happen but my upside target is gonna be around that 12 thousand dollars that yellow trendline in this red overhead resistance area right there and then to the downside we would be looking roughly around that 3100 or so so a few guys like these videos like them quick like this like subscribe hit that notification bell I appreciate you all being here with me today I'm hoping to get maybe one or two videos out today so god bless you all and take care of my friends

20 thoughts on “BITCOIN TO HIT 12,000?? CANDLES ARE GETTING TIGHT!! MY TARGETS!”

  1. if you need a legit bitcoin investor or bitcoin loaner then hackchek on Instagram is the right person..go a life changing loan from him

  2. Warren Buffet, Charlie Lee, Justin Sun Charity lunch getting closer later this week.

    Bitcoin and Łitecoin reward halving supply shock moving down the track ..🎢…🌤

  3. talking about trendline breaks: it looks that litecoin broke the line and will now go all the way down back to sub $60. Halvening hype has finished now that Charlie Lee did acknowledge that the halvening was already priced in. His litecoins were probably sold (but he will not mention it this time!). Sold my litecoins with a very small loss but I cannot afford more downwards trend. Will be buying back under 60$

  4. use this to understand HVP/HVR … very good info … https://www.youtube.com/watch?v=qEE8DSn_NdE&feature=youtu.be

  5. for timing on breakouts voyality use HVP or HVR indicatior balipour on tradeview. If it printing
    0s means breakout incoming.

  6. I do think it’s going to boost close to 12k or so, but I will be taking profits very fast because I think we are eventually heading back down to below 9k range

  7. Woah, when you said "to the downside we would be looking roughly around that 3100 or so" i'm assuming you meant 9100, right?

  8. All eyes are still on the crucial $10,400 level and the chances are, we may see a reversal and start bulling or we may experience a further decline or experience a stagnation for a while. There is actually more to forecasting price action by reading the news. This is because the relationship between them is not one on one. Bearish news doesn’t always result to decline in price while bullish news doesn’t always lead to increase. What to do is study historical patterns, news and scenarios. Upon understanding these well enough, you may be able to predict a reoccurrence of the circle if it ever shows up again. In addition to this, it’s extremely paramount you understand technical analysis which will form the basis of whatever decision you make in your trades. One step to making great profit would be to take your time and learn the ropes of trading which may take your time and perhaps still lose. Another would be to use the system of a very successful trader and copy signals/strategies. This option actually has made me a lot of money since I started trading with the guidance of Benjamin Jackson. We started off by him giving me very sound advice on how best to invest my time and money in cryptocurrencies. I then started trading demo using his signals and when I was comfortable enough, I went live and the result has been amazing. The greatest thing about him is his willingness to help and solve problems of others. His contact Mail: ( [email protected] .COM ) or via Telegram: +1(551)257-4137 . if you need his assistance or guidance with any aspect of trading and earning consistently in cryptos.

  9. You really have the best channel for those of us learning charting. Thanks so much for doing these quick videos and the tutorials you have posted!

  10. Close to getting stopped out on ltc from an earlier position! Then if btc blasts again! Thanks for update Chris 👍

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