The PUMP Came! | ETF DELAYED | Halving HYPE & Start Of The BULLRUN



in this video I want to continue to talk about this channel that Bitcoin is actually traveling in right now bouncing between the support and resistance and I want to talk a little bit about this bull flag that we saw yesterday form and the fact that we came up and tested the resistance once again and what does this mean for bikal now in the short term and leading into the long term I have a few interesting things to point out here so stay tuned for that and I also want to talk a little bit about the Bitcoin having coming up and show you this chart which could actually show us when the bull market actually starts and also the big news for right now is that the ETF the Vanek and bitwise ETF were both delayed by the SEC so now I want to go through the updated deadlines that we need to keep an eye on in regards to the Bitcoin ETF and if you think that that sounds interesting that I think that you should definitely go to this field hello guys and welcome to the moon my name is Karl I'm into building this cryptocurrency with video and let's dive right into the recent price action and the update so here in this shorter time frame we talked about this possible bull flag and of course yesterday we were someone here and just as I added the video we did actually get the breakout of this bull slag and if you didn't watch the video from yesterday what I basically did was just a basic bull flag target analysis you take the poll of the flag and then you put it at the at the point point of a possible breakout and what we get is a target up here and as you can see we got a week up to that exact target of approximately a four thousand one hundred and twenty-five dollars of course depending on which exchange you use and initially this breakout actually came up to our resistance line of 4.1 K got a small little rejection and so yeah this resistance zone this blue resistance zone that I've been talking about there seems to have been Mets now and just like I've said in the previous few videos this resistance zone would be a logical zone in which Bitcoin might be able to actually reverse down and yeah to put in a high here and if Bitcoin starts to correct a little bit here now then the previous resistance is obviously going to act as new support now we have this resistance line that I talked about and let me point out a few other big support levels here in the short term in a very short term this for K level has been significant with resistance resistance right there and big support right there so this is a major level also here in the short term in the very small time frames and then the next major level here is actually going to be the three thousand nine hundred and fifty eight dollar level we see a lot of significance here a lot of support and last time this cut broke we did see this nice little sell-off and if we go to the daily and just take out the stochastic RSI and one of the big reasons as to why I believed that we were going to see small pump here before getting a chance to start a correction was because of the bullish cross here in the stochastic RSI and so yesterday the momentum was clearly shifted to the upside here in the daily timeframe but right now as you can see the momentum might be starting to run out which to me indicates that I think that the the pump that I was talking about the small pump has probably already run its course and I don't think that there's a lot of fuel left in this small move and I think that we're probably going to go down and test the bottom of this channel very soon and speaking of this channel we are still in the channel and because of the year this small pump we saw yesterday we did actually come up and test the the resistance of this channel once again just like we've done a few times before and if we zoom out a little bit we can see that Bitcoin has respected this channel now for a long time ever since back back in February 25th that's when this channel started and ever since we have been in this channel we can know for sure that this is not going to go on forever and remember what I actually did a small little Fibonacci retracement analysis where I took the top of this breakout the last breakout and the the bottom of this channel and we saw that the this channel actually came up to the 78.6% level right there before actually getting this this dump and here we can see that we are in a pretty similar situation where Bitcoin has trapped been traveling up in this channel and we have right now tested the 78.6% level so basically right now we have already seen the similarity here with we had a fallen Webb's back there and then we had a falling wedge back there we had a breakout right there and we had a breakout right there and so far with I mean we didn't see a sharp sell-off here leading and let this let into this channel and we did see a sell-off right there this led into this channel and right now they have actually come up to the same point up here and the big question is are these similar is going to continue because if so what we should expect is another big sell-off and a possible and falling wedge for me and which I have actually talked a little bit about I think this is still possible and I know that I actually expected this dump a little bit earlier and I was clearly wrong there I expected this dump to happen a few days ago but there was a pretty good reason as to why I thought that was the case we did have a trendline that looked very very good it was a very valid trendline at that point it looked like we had a rising wedge right there and just based on technical analysis this looked like a a classic rising wedge and arguably we did see small little breakout of it but of course this was not a rising wedge we were never in a rising wedge and in fact we were always in this channel and so this rising wedge theory is what actually made me believe that the dump was more imminent than it actually was so I was clearly wrong there but I still believe that we are in for a correction I still think that's the most likely scenario but I did get the timing wrong and that's just something that I wanted to make very clear here and all right let me actually pull out a indicator called the V P V our volume per volume range and I'm doing this to show you where the resistance is over us and what needs to happen for Bitcoin to to go bullish alright so what we can clearly see here is that there's a lot of volume in these regions and if I put a line right there that's actually the $4,000 level and right now B code is actually above this major resistance area this is the major resistance so above here you can see that there's a big lack of volume traded which means that there is not a lot of resistance in this area and this is what makes me believe that if Bitcoin can with volumes successfully break into this area decisively then I believe that a big spike is probably to come here and you can see the right now biscuit is actually breaking into this area above this major resistance and arguably there's going to be some resistance here until maybe up here because we do have these points right there right there and of course up here this is the most important one the four point four key area that is the previous high right now but arguably because right now in a zone in which the resistance is not as high as it was below four K so right now I believe that we are at a critical point where the Bulls could have a chance to actually make the bullish scenario realized and they had the same chance right there and of course right there right there and they did fail all of these times and I still believe that the more likely scenario is that the the Bears are actually going to take back control over Bitcoin and we're gonna go back down below four K and like I pointed out previously I still think I have to say that as long as we're below the four point four K level I need to remain bearish because I think that's the most logical conclusion here that is the previous high and we have still only established lower highs and lower highs and when Bitcoin eventually actually does break above the four point four K level then that would be the first time in basically hold bear market here that Bitcoin actually has established a higher high and that would be bullish and that could put an end to the bear market basically I just don't think we're ready for it right now but I believe that's inevitable to occur at some point here so where could a potential leg down like this actually take us and let's just bring up the Fibonacci retracement tool once again because it has been very very accurate lately in predicting a Bitcoin as you may have noticed if you followed my channel for the past few weeks and months here and what we can see here is that in the previous correction in this previous retracement Bitcoin actually after that dump came down to the 61.8% Fibonacci level and if bidco were to do the exact same thing again then what we would expect is basically to come down to the 61.8% level and that's actually the three thousand six hundred and sixty five dollar level and like I said previously that that actually lines up perfectly perfectly with my my my level that I've been talking so much about here and so much resistance resistance and we've seen support there I've gone through this level many times but I just wanted once again make it very clear that this is a major level for many different reasons and the Fibonacci retracement tool further confirms that this area is an important area so make sure that you take note of this level three thousand six hundred and seventy five and by the way before I go over to the the crypto and Bitcoin user section in this video I want to address one question that I got on yes this video so who's I've been talking a lot about the twenty moving average the twenty weekly and someone told me to take a look at the twenty one weekly so I did and then a lot of people were wondering why don't I just take a look at the twenty two the twenty three the twenty four et cetera and I absolutely understand your points but actually the twenty one moving average the 21 period is an extremely popular moving average the twenty two twenty three are not not the twenty four twenty five there's always the big debate between the 20 and the 21 which is the most accurate I usually use the twenty sometimes I used the twenty-one but they basically show the same thing there's a small little spread between them of course but not that big of a difference and just like I said here I understand what you're thinking but the twenty one moving average is a widely used ma many preferred over the twenty the twenty two twenty three twenty four etcetera are not used and a quick little Google search will actually provide you with with the fact that the 21 period is actually a a moving average that people use and another article from investopedia here talks also about the the twenty one moving average because of the leaf Fibonacci significance maybe I should have clarified the significance of the twenty one moving average and this comment actually got forty two likes so I felt compelled to actually talk about the twenty one moving average and I mean it doesn't even really matter if the 21 period moving average is inherently significant the simple fact that it is very very popular makes it significant and this goes back to the whole thing about when everyone uses an indicator then it becomes a self-fulfilling prophecy and it becomes significant because everyone uses the same indicators that creates support and resistance where people jump in and out of positions but yeah the twenty one moving average is very popular but the 22 is not the twenty-three is not so I would never pull off the 22 or 23 if the 21 didn't work but yeah I think that's enough about that I hope you understand and if you have any further questions about that you can just leave them down below and I can address you tomorrow next up I found this tweet there will never be more than 2 point 1 quadrillion Satoshi's saves you from having to do additional explaining after saying there will never be more than 21 million bitcoins because sometimes when I explain to people that there are only 21 million Bitcoin I always get the question but is that really enough for the whole world how can that be enough only 21 million Bitcoin but of course when you explain to them that every Bitcoin can actually be divided into 100 million parts and that gives you actually a 2 point 1 quadrillion smaller parts or Satoshi's then of course that makes a lot of sense and of course it doesn't really matter what the actual supply is the only thing that matters is the price and I think this misunderstanding simply comes from the fact that people think that Bitcoin cannot get divided into smaller parts and well they can so this solves the problem next up backed progress reports when will back get launched well no one knows and we still have not gotten a date they actually say here this is the progress report over the last year we've worked closely with the Commodity Futures Trading Commission or the CFTC on an extensive process to obtain regulatory approval for the launch of our physically delivered Bitcoin futures while we are not yet able to provide a launch date we're making solid progress in bringing the first physical delivery price discovery contracts for Bitcoin to the US where price formation will occur in federally regulated transparent markets so the update is there saying that they are still working closely with the CFTC but they cannot give us a launch date yet and next up block reward versus Bitcoin price trend I've been talking a lot about this the fact that the Bitcoin happening is coming up so back here the block reward was 50 Bitcoin then it got halved into 25 bit corn then it got hacked into 12.5 Bitcoin and next time it's going to be happening to 6.25 Bitcoin and these vertical lines here are the happenings and these dots here are the marks the one year before the happening and you can see that both of the last two times there was one year before the happening we actually experienced a bottom and after that one year mark Bitcoin actually started to move up until the happening and that happened right there as well you can see one year before the happening basically bottomed out and because started to trend up until the happening and essentially we're are at a very similar position right now we're getting close to the one-year mark before the happening it's coming up in May and this tells us that we are at the bottom or very close to the bottom right now and I think that based on this chart there is a decent chance that after May we might actually see a price reversal because that has happened twice before and a lot of people are talking about this so this could actually become a self-fulfilling prophecy where people are just gonna start jumping in after this point because they see that that was a good jump in points previously and that could be a trigger effect where where the bare market basically ends because all of the buyers that are on the sidelines right now just waiting to jump in many of them might actually be waiting for this one-year mark because yeah a lot of people are talking about this and I think that we're gonna see more and more hype around the big a Bitcoin having as we're getting closer to this mark actually next up us SEC delays decision on Bitcoin ETF applications from Vanek and bitwise and so the United States SEC has delayed its decision on a rule change to the Securities Act that would allow the listing of Bitcoin exchange traded funds and this was published actually on March 29th or yesterday but it was filed its application with New York Stock Exchange ARCA on February the 15th under the condition that it would reach a decision in 45 days but as we have learned previously the SEC can delay via the these applications a few times and if go over to Twitter and take a look at our crypto lawyer Jake prevents his tweet here about this he says the following the SEC has extended its deadlines to approve or deny the bitwise and Vanek based on ETF proposals to May 16th and May 21st 2019 the SEC can and almost certainly will delay both ETF proposals two more times the SCC's final deadlines will be October 13th and October 18th respectively 2019 and just like Jake says I also believe that the SEC will delay this to the absolute final deadline of October they will use all of the time that they can legally use to to delay this I think that's very very likely to be the case that's exactly what they did the last time the D Vanek was filed but of course Vanek themselves actually pulled the ETF before that that actual final deadline and I think it's actually a very decent chance that this ETF is actually going to be approved especially now that this is actually the second time this has been filed because not only were they able to delay that ETF as much as they could and have the the maximum amount of time possible to think about this ETF but the ETF even got pulled which means that they get all of that time once again so they get double the maximum amount of time to think about this ETF and this gives the SEC all of the time necessary to yeah think about the ETF and and get more opinions about this and also see that the the big core markets have of course cooled down and the volatility is going down and all of these things that could pose a problem for a possible ETF and remember that the Vanek ETF is actually going to be a physical impact ETF which is a positive thing that means that when you buy this ETF you are actually going to affect the price of Bitcoin because of course if this ETF is backed by Bitcoin then they have to buy the actual Bitcoin before launching ETF so this means logically that when you buy a physically backed basically ETF you are in theory buying from the the supply of Bitcoin but whether you buy a cash-settled ETF you're not buying from the actual supply of Bitcoin you're just buying an investment contract that's more of an IOU and if it's not settled in Bitcoin only settled in cash then you're just diluting the the supply of bacon and essentially kind of creating more Bitcoin than actually exists and those things are bad for vehicle we don't want those so this is why I think it would be very good for Bitcoin if there at least is one investment contract that is physically back because we already know that the biggest is usual investors they don't really care about the technology in the sense that they want to own their own private keys and be their own bank they don't care about that as much as we do what they care about are the profits which means that they would much rather go to their regular exchange exchanges they have been using for four decades and go and buy Bitcoin through an ETF that's just how it is and we can hate it as much as we can but I think an ETF is needed for for the institutions to be able to go into basically basically but personally I would never buy a ETF physically backed or not just as I would never buy a gold ETF physically backed or not when you hold gold and Bitcoin there is no reason to introduce a third party other than the convenience and possibly security if you don't trust yourself with holding your own private keys but I think that's enough talk about the ETF's please leave your comments down below guys what do you think about the ETF will it be approved or not but this is it for this video if click down here across that amazing video go watch it in L see you guys tomorrow you

38 thoughts on “The PUMP Came! | ETF DELAYED | Halving HYPE & Start Of The BULLRUN”

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  2. Simply put, bitcoin is at a critical level because this could be the actual bull run or a bull trap in view. It is highly probable that if it exceeds its 2019 all time high and resistance of $4200, it will quickly proceed to a more stronger resistance at over $6,000. The reverse which is still very possible is the bitcoin dropping again to $3,500 and below. One scenario may seem good and the other bad but in reality, they are both good case scenarios, one presenting the chance to accumulate more and even allow for greater profits. I previously used the dollar costing strategy where i bought a fixed amount of $2,000 every month after payday but i eventually adopted another strategy which i was introduced to by James Valentin, an extremely good trader and mentor with which i could grow my portfolio by trading and making ROI which was impossible to accrue when i was just dollar cost buying and holding. Trading permits the trader to make profits of fluctuations which would ordinarily mean nothing to most investors and i capitalized on this system of James and i am profiting steadily and building my portfolio which is now over 46 BTC without necessarily having to buy more and more coins every other month. I would urge every crypto enthusiast to look at the possibilities with trading and delve in with the right guidance in place. You can reach James by mail or whatsApp ([email protected] or +1(978) 291-8255) for all inquiries related to bitcoin trading

  3. Elastos has been on a good run. Not sure anyome knows, but on Apr.8th, The World Bank will initiate a team to do research about"Developing country's medical big data trusted computation"basing on Elastos Blockchain infrastructure.

  4. 20 or 21 pfff. You keep doing it the way you are doing it Karl. As always good TA, clear and well explained. Keep up the good work.

  5. 1 simple thing.. You cannot tell what will happen.. BITCOIN PRICE will depend on the majority of people who believe it will rise or fall..

    What you all doing is MIND conditioning…

  6. Love your channel Carl, I am new to crypto and learning still and learn a lot from your channel. I like the way you explain things.
    Keep up the good work!!

  7. Hi Carl. I love your channel and I watch almost every day. I'm really impressed with how hard you work at this. I agreed with your analysis on the rising wedge and all the various resistance points which appeared to be converging, so much so that I went onto BitMex and laid down a 0.5Bitcoin short at x40 that it would tank. Bad idea. I got liquidated last night when it pumped to 4132. This bade trade was my decision and I own it but it does make me think that I need to look a bit closer at my own analysis and not just go with the flow.

    So.. I'm thinking about your comments on the Fibonacci retracement of this latest channel. Any which way I dice it, I can't see how you get the 0.786 that you mentioned in today's video. I agree that the last channel (back in late December/January) was right on the 0.786 but not this time. I make it closer to 0.92. I'd like to know your thoughts on this.

    Something else I'm thinking is that while these two channels are similar, this latest one is drawn out over a much longer time period. If we take the time between the first dump and yesterday's pump (assuming yesterday was the leading pump of the end of this channel) we have a temporal ratio of 1:2.63. If that makes sense, it would mean that we are yet to hit a peak, on/around April 3rd with the final dump on April 8th.

    This scenario would require that the weekly stochastic remain high for about 21-28 days but this is not unprecedented as we had a similar scenario back in November 2017.

    Is this nuts or do you think the idea has merit?

  8. You are all beside the plate since the impulse of 08/02/2019, especially Carl who give to simple minds false signal, it's just manipulation for what you want and it's absolute not nice. Because the simple minds follow as sheeps and it is what we want not to happen.

  9. Thanks for the video:) At this time when the BTC price has been increasing, many Youtubers have switched to the bull-mode, although on the previous time when BTC was trading on these levels some of them were calling out for a bull trap. I liked your more realistic approach in this. Some days back you were speaking about the upcoming massive move, which in the bearish case would lead down to 2.4k or even 1.2k. Has this scenario concerning the massive move (possibly down) been invalidated by the present price action or do you think it's still possible (or even likely)?

  10. With the earlier replication of the ETF, does that mean everyone has to resubmit their views and comments to the SEC? And that the earlier ones from the first ETF submition are no longer valid?

  11. Yes this is one of the best channel for learning crypto stuff, i have been in crypto for years and still learning so much from you and your mentor Mauricio pierce about stuff like this and about coins i thought was good but were infact shady so thanks and pls keep doing what you do, i will also advice you guys to look up his mentor Mauricio if you're looking for professional signals and working strategies. he's a good man and he has a great potfolio and Honestly the price movement has been really promising, i've made some serious cash following his guildlines. i no longer work a 9 to 5 job and i can still provide for my family and live a comfortable life, all thanks to Muricio priece. you can reach him on [email protected] for good tutor and mentorship.

  12. i like how you run your channel. but can someone please translates what he says when he starts saying " but i think you should definitely #$%#$%#$ this video. thats all i hear lol. doesn't sound like you say watch this video hmmmm. also are you russian?

  13. Thanks for admitting you were wrong. That’s all I can ask. If your Going to take credit when you’re right to do the same when you’re wrong. Honest disclosure like this will only increase your popularity

  14. Rn it’s touching the weekly bear trend line. Looks like it bounced off nicely, expecting a sell off, always great analysis Karl

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