Bitcoin MEGA CYCLE BOOM In Formation!
In this video, I discuss Bitcoin's approach to $70,000 on the daily chart, highlighting it as a key resistance area. I explore various bullish targets by zooming out on the daily chart, providing a different perspective on Bitcoin's long-term trends. I revisit the concept of a supercycle, suggesting a longer-than-usual bull market, supported by data from TechDev, which shows significant breakouts against M1 money supply leading to extended runs. I analyze the current Bitcoin chart, noting a lack of a blow-off top in the last bull market and suggesting potential for significant upside. I also examine technical indicators like the 20-week moving average crossing above the 50-week, and discuss the implications of these patterns for Bitcoin's future performance. Ultimately, I emphasize the importance of patience and a zoomed-out perspective while tracking Bitcoin's progress and potential resistance levels.
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Intro 00:00
New Bitcoin money supply data 00:25
Bitcoin daily chart resistance and targets 4:15
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*The above video references an opinion and is for news/information and entertainment purposes only. It is not intended to be investment advice, financial advice, or any solicitation, recommendation, endorsement, or offer that you buy or sell any cryptocurrency or securities. Trading in cryptocurrencies and securities is a high risk activity involving risk of loss so please seek a duly licensed professional for investment or financial advice. The information provided on this video should not be used to make any investment or financial decisions without consulting your financial or investment advisor. This video contains my opinion only and is not intended to cause harm or defame anyone or any entity.
Crypto Capital Venture is big on tracking bitcoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a very volatile way, there is much opportunity in being prepared for upside and downside. We also cover Bitcoin news on this channel as it comes out.
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