hey what is up ladies and gentlemen and welcome back to another video here today from the tech hash house as always hope you guys are having an awesome one now in today's video I want to bring all of you some more news from Nova Graz and other experts who honestly have some very good reasons for their newly acquired bullishness or renewed bullishness I guess I should say because quite frankly Bitcoin despite appearing to be relatively stagnant right now is still doing extremely well now bitcoins price for the day has been down a bit it's been up a bit it's been fluctuating kind of back-and-forth but we're still maintaining above 10 grand and things are really still looking quite awesome so anyway guys in today's video I want to go ahead and talk about that with all of you can I discuss all this news all this info from Novogratz and other experts because like I said you know they have some great stuff that they bring to the table as always no surprise there ok and I want to go ahead and also talk about bitcoins price because you know it's still sort of sideways I wouldn't discuss why exactly that's happening what we can expect to see pretty soon and why it won't be trading sideways really for much longer ok so anyway guys as always if you like the video drop it a like subscribe and share with your buddies for more content like this those things solve the channel out a ton they greatly appreciate it and let's go for 200 likes on this video for Novogratz 5000 views and let's go ahead and look at bitcoins price let's do that just to kind of kick things off ok so right now bitcoins price like I said is trading a bit sideways now guys honestly I am not surprised by this at all a lot of times when we're looking at stochastics and this is stochastic seer which indicates that something is overbought or oversold we see periods of major oversell after rallies actually occur which is what we saw a couple of days ago and then sometimes we have periods of relative stagnation which you know kind of see the price trade a bit sideways for a while being neither oversold nor overbought and things that time are a little bit plain all right but that's not necessarily a bad thing at all what I really want to point out here is that when bitcoins price dropped to about 9 grand these sell momentum was really strong okay a lot of people were panic selling and then obviously drove the price down quite a bit it had a major impact on bitcoins price and that caused a lot of people to freak out which is really not surprising what we're seeing now is we're seeing much much less sell momentum as we really ride out the rest of this selling cycle which is something that you know I talked about before I'm really not surprised to see it and honestly this is a good sign because it shows that yes people panic sold here but now people are much more serious about holding on and remaining calm through the rest of the cycle okay so what this really shows is that the market is still bullish in a certain way these selling momentum is slowing down big time things are starting to turn around and as you can see here we have crossed that line here on the MACD how are the moving average Convergence divergence indicator which really shows that these selling momentum which was extremely strong is now fading away okay so while a lot of people were really really into you know selling for a few days there now we are coming off of that and after this after this corrective period it will probably take us to about 10 grand or so we're gonna see the price of the coin tick upward again in a big way and that's gonna be really fantastic to see so the thing is okay we're still heading in the right direction this is normal this is consolidation this is completely completely expected and a lot of people worry about this when they see it okay a lot of people say oh well bitcoins trading sideways now that's boring that's not doing anything but actually the other day Bitcoin crossed above 11 grand again and you know after dropping to about 9k to cross 11 grand again in just a couple of days is really a good sign okay that shows that honestly the market is still healthy things are moving completely in the right direction and that's great to see okay so really I'm not worried about this the cycle is continuing pretty much exactly as I imagined so really my prediction here is we're gonna see a bit more stagnation probably a drop down to about 10 okay or so and then I think from there in a short period of time probably by August or throughout August I think we're gonna see another pop in bitcoins price toward the upside I mean not of not a you know bubble pop or anything like that I think the price is gonna jump up a bit and then probably you know ride out through the month of August with some good gains and then I think this fall will really be the critical time for bitcoins development but anyway guys with all that being said that's my current outlook for bitcoins price you know really nothing out of the ordinary right now a pretty standard procedure so I want to go ahead and look at these other experts and see what exactly they are saying about bitcoins current valuation now this is coming from CCN go ahead and check them out guys they're good source for of Bitcoin news I followed them for a long time now Wow so let's go ahead and see what exactly they are saying here okay for bitcoins price and for the general outlook of Bitcoin okay over for Bitcoin so since July 10th within two weeks the Bitcoin price has declined from over 13 K to $10,600 by more than 18% against the US dollar and its lowest point this month the Bitcoin price came close to dipping below the $9,000 level dropping to as low as nine thousand and eighty dollars but what's really important to note here is that it did not dip below that level it actually maintained above nine and that was really good to see okay that shows significant strength and that really shows that Bitcoin is holding on for the long term so although Bitcoin has shown relatively strong recovery throughout the past week it has struggled to cleanly breakout above 11 grand which is acted as a key resistance level for Bitcoin throughout July something that all of us are very aware of okay but here's the thing all right and this is something that I just got done saying is something that the experts are also saying consolidation is expected okay consolidation is completely normal so when an asset slows down a bit when things kind of stagnate for a while that is a period of consolidation and that does actually indicate that much higher prices are coming but it's gonna take a little bit of time okay now I don't honestly think it's going to take that long because we do still have the momentum bitcoins market overall is much stronger really than it ever has been the volume is still quite good and things are still looking nice so generally speaking you know I don't think this period is gonna last all that long which could mean that right now is a good time to consolidate before prices rise again okay but anyway let's see what exactly mike Novogratz is saying in regard to these recent movements so michael Novogratz a billionaire investor in the CEO of galaxy digital said that bitcoin is likely consolidating currently before initiating its next major move higher in a statement and in the statement he actually said and I quote if Bitcoin goes to $100 it's game over it won't okay it's already established itself as a store of value stop wasting your time with these tweets and go outside and enjoy the summer Bitcoin is consolidating before it's next to move higher which is I think a blatantly honest statement which really does a lot to show and to really illustrate that Bitcoin is established and that it's holding on okay so many people look at any dip in bitcoins price they look at that and they go it's done for you know it's gonna drop to a hundred bucks it's you know the thing is Bitcoin has sustained prices above $100 for many many years okay that's not something that's really in the cards anymore a lot of people seem to think it is a lot of bears think it is but guys honestly I'm telling you and Novogratz is telling you as well that that quite frankly is just unrealistic to think okay $100 is a very very very low price with bitcoins current demand with the overall supply of pic coin that's really unlikely okay and that's something that's really important to remember $100 that that's like nuts okay that's like saying that one US dollar tomorrow will be worth one cent that's just you know things tend not to happen that fast in economies that are established okay and that's a very good point so Josh rager a crypto currency technical analyst and trader indicated that from a technical perspective bitcoin is not cleanly broke out of the ten thousand eight hundred and fifty dollar level which many traders have emphasized in the past several days and on this he said and I quote and I appreciate what rager is saying here daily timeframe resistant did its job and price closed under after that $400 plus WIC it's always good to wait for a retest to make sure a broken resistance holds as support pay or in other words that we're seeing resistance converted into support as the price rises and this is a clear example neutral at the moment and still in range so in other words he's saying here that bitcoin is still doing a very good job of converting resistance levels to support levels under words it's rising consistently and holding key price points which is very important to note okay when the Bitcoin price initially moved past ten thousand five hundred dollars after recording a nine percent rally within a span of minutes on July 19th traders indicated that the ten thousand eight hundred and fifty dollar resistance level would have to be breached to confirm that the short-term trend of the bull of the asset is bullish okay so we're still looking for that to kind of be in the cards right but okay but we did surpass that level at about eleven K we just need to now hold on to it okay so ten for met no violent reaction no rejection Bitcoin looking decent let's see reaction at this next resistance punch and close above ten thousand eight hundred and fifty and things start looking substantially bullish one trader said during this time okay so Bitcoin has not been able to reclaim ten thousand eight hundred and fifty cents then despite briefly surpassing beyond eleven grand on July 20th okay but things are still looking nice okay and like I said before the fundamentals here are quite good okay so as equity armored investments executive Brian stunt Lind actually said and I quote I think the move out of fiat currencies is still real if interest rates are going to stay below two percent in the United States if they're going to stay negative in Europe if they're going to stay flat in Japan where else are you going to put your money and that's where you look at the metal so you look at cryptocurrency as a place to do that so silver might be a sell but I think Gold's a buy and he also says that bitcoin is a buy along with gold okay so very interesting stuff a lot of experts here are saying now that this is a consolidation period and really I have to agree okay is a definitive period of consolidation this is something we can very plainly see just looking at the indicators and really you know it's only a matter of time before we break out of this period with even more strength than before okay that's what happens during consolidation it's called consolidation for a reason and things are still looking nice okay so anyway guys with that being said that's my take for this video as always let me know what you guys think I always want to get your opinions and your comments and everything else so let me know I'll see all of you guys in the next one have a great one guys keep your girl Keeper here the tech hash house and adios


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  6. I am unsubscribing now . Its a huge disappointment . You keep pushing the days forever . Please dont do it anymore !

  7. Your like a broke poor little
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    What you should be doing is selling to rebuy at a lower price.

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