Bitcoin purchasers getting ready for 51 000 and crypto financiers continuing to accumulate. Let’S have a look at that on the charts. What that implies, if we reach those target levels and what we can do in case, the marketplace does not make it there. I understand it seems like doom and gloom, but as an investor, i’m always trying to be prepared for all sides of the marketplace, the ups, the downs and the sideways. That’S the only way that we can buy the marketplaces.
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Discuss bitcoin hitting this next resistance level around that 51, 000 and i have actually noticed in the past. Undoubtedly, the masses are going to be right at an amount of time as the markets all increase everybody’s going to be right, however then, when it gets to specific peaks, not stating that we’re there yet not attempting to put any sort of downer into the start, however i’m simply wary at those times when everyone starts to think and talk about the exact same thing truthfully, i do not think we’re there yet, but it simply sticks in the back of my mind, and i don’t have anymore buying times or buy opportunities at the moment, based particularly on this plan, which i put out in might of 2021. That was when the first purchase of bitcoin came in, so we cover this. Frequently, routine audiences of the channel will know about this, and, obviously, patreon members likewise get a link to this, so they can use it for themselves. We’Ve been acquiring at every time the marketplace is 15 or less on the worry and greed.
Good and simple got to develop some exit techniques and, obviously, the return at the moment, nearly 33, which has to do with 6 000. On the initial investment of 18 000, an overall of half a btc on this plan, starting with the one hour chart for bitcoin bitcoin, has had a nice recover from 45 000 bucks heading up to nearly forty seven thousand dollars. So generally, a two thousand dollar increase in the last numerous hours. It does look like it wishes to push out of this downtrend and is generally sitting on top of that at the moment. So, supplied we hold up here at least, we’ve got the small time frames.
All collaborating, we’ve got the one hour, looking bullish, we have the 4 hour also starting to turn up again. You can see that the swings were gotten and we’re holding above this level at the minute. As for the daily, it’s also sitting above the previous assistance zone, so that’s a great sign too, specifically from the other day’s bar with the increased volume and the higher close. So hopefully, by the time i put this video up, which is, you understand, be rather quickly, hopefully, by that phase the marketplace simply starts to push out for the bulls that is overall, there’s a great deal of support and resistance for both sides of the market. Certainly, the target here is 51 000 and the leading end has to do with 52, where these triple tops can be found in back in december and late december just recently, i observed a couple of comments from viewers and tweets of investors just getting a little irritated with how long it’s taking bitcoin To get a move on getting a bit worried, if we don’t start moving, we’re going to fall back down now, that might be true, but the main thing i search for is: if the swing bottoms get gotten, it’s okay to be at these levels and Take time time is on our side.
Time is an advantage for markets to combine, grow some strength and move to brand-new higher rates. I’m not concerned if we take longer at this time, we simply don’t desire to see swing, bottoms getting taken out since that’s generally where some stops are and that will then flip the market from bearish to bullish. That’S what breaking swings suggests is basically flipping from one market sentiment to the next sentiment. Time is great. We can remain at these levels and work our way higher to that 50 to 52 000 level.
The weekly charts likewise looking good when markets break through previous resistance and then find some assistance on top of them all the while volume staying relatively steady, or a minimum of at best, i should state increasing in volume. That’s a great indication that we are about to deal with the next greater costs. We want to see some more volume come into this market this week. If we begin to head greater and after that of course, if we break out of the 48k, some more volume been available in also to try and deal with the 50 to 52 000 level. So far, we have actually looked at the one hour four hour, one day and weekly charts and they’re all still showing up trends at the moment.
The main thing we want to concentrate on is the weekly chart and, of course, remaining above this level of 44 and a half thousand dollars, since it’s broken out and now is attempting to consolidate to take on 52 000 So for Bitcoin we’ve been increasing for one to 3 weeks, and this is our 4th week or the effort at the fourth week to get higher than the previous week, we’re about 9 to ten percent away from the next target. Carrying on to all of the cryptocurrencies, we took a look at this the last few days and the marketplace is comparable, other than the total cryptocurrencies have not easily broken through their january highs, unlike bitcoin, is broken through its january highs right here and is holding above them. So the total market caps are trying to do that themselves. The next level is that 2.25 trillion, which still sits at about 2 percent away – i’m sorry 6 percent from that point and after that, of course, we take on the next level, which is up at around two and a half trillion dollars.
The excellent news for this is that we’ve broken the downtrend we have actually broken both of them in fact, so you can see the blue line here, that’s from the all-time high to the peak in february, and then the next one is to the peak in december. This is the overall market cap, leaving out bitcoin and ethereum’s market cap.
I utilize these as a method to see how much risk or sorry how much reward is left in Cryptocurrencies compared to the possible risk compared to the drawback. Greater highs high lows on the weekly chart to let us know where we might see some resistance or the markets basically get a pullback of correction possibly for an excellent indication into a greater low before they start to to move away once again.
7, 8 with the fifty percent level can be found in at that point, too and previous highs that were set throughout may and september. That was the 2021 bull run, so we got all these numbers from the previous drops and corrections through the 8th btc chart over its history. Yeah basically we’re at one 2 3 we’re into our fourth week now. This might be the last week or possibly we have a little while. Perhaps we had another week or 2 after this moment, however at the moment we’re getting a bit of a pullback.
Now it’s not over yet you can see. If we get a pull back and a great push through happy days however yeah, the last 2 days have shown a little bit of resistance at this 50 level.
I’m just waiting to see how this market responds to the 50. Ethiosd still looking more powerful than bitcoin, we can see, we have actually got some closes above the drop 50 percent.
Nothing that is incredibly strong, since you can see it’s simply holding out somewhat above it simply a few dollars above these levels and this level’s been put in considering that january. You can see the low the high was available in in november, so we’ve had this on the chart for a number of months now and so for bitcoin you can see. The 50 level is still at 51k, so bitcoin is still a little brief to the 5th to its half, whereas eth is making a solid effort to get above that level and get back into the price zone that it was in 2021. So all this is excellent and well, but what does it imply and how can we use it well, at this stage, bitcoin is still holding up, so because case i would still anticipate some of the alts to keep pushing up. It likewise reveals on these charts on the overall market caps that there’s still some room for alt coins to keep moving.
That’S simply the overall market caps in basic, so all queens might still have a little bit of room to move now. Eth on the btc chart, like we’ve seen prior to there has actually been several weeks up prior to 8th btc gets a correction and, of course that’s likewise lining up with the overall market caps and, of course, there’s some more room for bitcoin to move and bitcoin is still holding.
This still appears like there’s a little bit more time left for some old coins to pop off speaking of all coins. I did a poll on my twitter account yesterday find a link in the description and the old coin. That won was phantom. Everybody’S very excited about ftm at the moment, therefore i’m just looking at this and where can the next resistance levels can be found in at the moment the next resistance at 1.74, so the marketplace’s had a reasonably excellent move up, however absolutely nothing very strong compared to other cryptos.
That we have actually seen undoubtedly luna’s relocated to new all-time highs. You also have solana breaking back above its 50 level, which is a little stronger than what we’re seeing with phantom at the moment, but however, there’s excellent principles. Terrific news happening with phantom the markets responded to that, however if i take a larger photo, look so depends upon whether you wish to buy this thing macro so longer term, weeks to months holding out. I know a great deal of individuals rather hold old coins for months, due to the fact that i do not wish to get capital gains tax. That’S going to boil down to your viewpoint on whether this is a good time to be purchasing or not short-term trades.
Sure there’s been some terrific short-term trades over the last 3 weeks. Obviously the marketplaces have been up 50 100, depending on which cryptos you remain in, but that’s something that requires to be assessed on a private basis depending on your own investment strategy. So for ftm we can see another 50 level up at 174 and after that once again at 220. It’s not like. I could not see this thing break back above and begin to check some higher prices, because well the remainder of the market is also moving.
That’s that’s what we expect when the old coins are in season, however i’ll just be a little careful. That ftm has moved three weeks up, however this this existing week hasn’t broken back above last week’s high and march was likewise lower than february sluggish and january’s low. Overall phantom has been weaker, however of course those moves can bounce out a little more powerful. It simply depends on the time frame short term sure. Maybe we might see a couple of more gains in ftm, not flooding it whatsoever.
If you’re, simply looking technically on the chart, the lows have been coming in lower while things like bitcoin has actually been putting in greater lows. You can see january here, you can see february and after that you can see the march lows been available in they’ve all been higher. That technically puts it in a stronger position than something like phantom.
That’S ftm, like i said no fud, just taking a look at short term versus longer term, and it doesn’t think about the fundamentals of the project longer term. Simply taking a look at the strength and weakness in different time frames, depending on how you want to invest, so that’s what i’m seeing today, i think we still have some more advantage, i’m pretty excited to see this bitcoin get to 51 000 to check that major resistance Level to see what the buyers and the sellers are going to do at that point, overall ethereum is looking like among the more powerful safer bets as a blue chip cryptocurrency and for the rest of the old coin area. The charts are still telling us.
We can see overall, the market has been reasonably neutral, however i’m beginning to see more impacts, particularly on twitter.
Hopefully, by the time i put this video up, which is, you understand, be rather quickly, ideally, by that phase the market just begins to push out for the bulls that is overall, there’s a lot of assistance and resistance for both sides of the market. I’m not worried if we take longer at this time, we simply don’t desire to see swing, bottoms getting taken out because that’s typically where some stops are and that will then flip the market from bearish to bullish. Higher highs high lows on the weekly chart to let us understand where we may see some resistance or the markets basically get a pullback of correction potentially for an excellent indication into a greater low before they begin to to move away again. Eth on the btc chart, like we’ve seen prior to there has been multiple weeks up before 8th btc gets a correction and, of course that’s also lining up with the total market caps and, of course, there’s some more room for bitcoin to move and bitcoin is still holding.