Hi all americans and welcome attend to micro investorwhere we abolish technical analysis and price predictions on many different cryptocurrenciesdaily and now in this video we're going to be speaking about Bitcoin now Bitcoinon the moment is engaged on attempting to receive over this 618 Fibonacci stage I'm asserting that it's perchancewithin a c wave all over a ABC correction attempting to trot up within a wave of three from a biggerimpulse that will perchance moreover merely be in a space to be taking the designate of Bitcoin to around thirty thousandbucks if this used to be all to figure out obliging in notify Bitcoin did advance down within this wavetoo it's in point of fact been struggling within an ABC correction to seize a stumble on at to receive a breakout to in point of factfull this wave three uh the immense part is that this designate here at this Fibonacci stage the 628Fibonacci stage of 20 400 is one which has a lot.
Of resistance moderately plenty of resistance has been retainingthe price of Bitcoin down for almost a month now so uh there's a lot a lot in point of fact within the attend of this designateand there's been more than one makes an try to seize a stumble on at to ruin through it and it has no longer succeeded so these closingcouple days I could perchance perchance moreover merely nonetheless train in point of fact your whole month of October it's been trying it uh consistentlyobliging trading sideways along this line and when it does ruin through or confidently it does ruinthrough because there is a possibility that that would possibly perchance perchance moreover merely no longer be the case no longer lower than at this secondand if it does ruin through though there are other components that we abolish have to be conscious ofnow here we're the each day chart possibilities are you’ll perchance well moreover stumble on this consolidation all over the price and seeinghow that Within These Fibonacci ranges that we're engaged on obliging now especially the the priceof twenty thousand four hundred bucks this.
Is exactly where our 50-day transferring moderate iswhich is causing many of the resistance that we're attempting to receive through as neatly so one it'sunnecessary to train the Fibonacci stage the opposite is the truth is that we're as we had managed to receive abovethat 20-day transferring moderate that 50-day circulation moderate is creating some points for us obliging nowand after we abolish pump through this that 100 day transferring moderate is obliging up there within our bullmarket toughen band so here’s moderately plenty of designate that is above 22 000 that uh we are in a position to be getting toand if we're in a space to ruin to that bull market toughen band then that's the most bullish casescenario for Bitcoin because as I've been asserting here only within the near previous whenever you happen to stumble on up whenever you happen to stumble on overon the blue Market toughen band and likewise you stumble on at the cryptocurrencies that are on the opposite aspectof that obliging now they have gotten moderately plenty of momentum.
For the time being in notify we're seeing the market uhwith with a little bit of of confusion possibilities are you’ll perchance well moreover stumble on over at cryptocurrencies like uh a Quant as an illustrationthat is obliging above that bull market toughen man and it's moreover above all of its circulation averageswe moreover have the the same part going on with xrp that's above the bull market toughen band and it'sabove its 200-day transferring moderate so we are in a position to stumble on that there's there's a handful of cryptocurrenciesthat are making these moves obliging now for the explanation that stock market does have moderately plenty of have an effect on on thedesignate of Bitcoin one thing crucial to stumble on at is the S P 500 now how the S P 500is asking obliging now uh it did advance down within a five wave so we have now the starting of 2022 thatwent into our first wave that had completed attend in February then we went up in a wave two we hadthat rally as you guys be conscious that took us into.
April on that April designate of the s p and Bitcoinand all that stuff that used to be one thing that obliging as we got within the second quarter of of 2022 the entiretyobliging nosedived and as possibilities are you’ll perchance well moreover stumble on that's how this is all played out uh usually obliging on thestarting of April the s p dropped to bitcoin dropped the entirety dropped this time a in point of fact obligingquantity and if we stumble on at where this had completed it used to be around mid-june obliging like what we had goingon with Bitcoin Bitcoin in mid-june same part then it went up and away four which we noticed thathappen in uh in August as we have now with Bitcoin and your whole other cryptocurrencies in mid-augustwe had them reach the quit and then they moreover then went down attend in price so what we got going on isthat the s p is within a pattern that he ragged to be in obliging now and I would ask there to be a uhdoubtlessly a tight quantity of trading within this.
Now there's moreover this pattern down here and here’sthe the actual correction Trend so we did have a slightly colossal scale correction up here however on thesame time the s p as it used to be following this pattern up it never in point of fact would exhaust worthy time abovethe Top Line because if it did that's when the correction is within the market in that's when the price FallsI mean regardless that here’s the the 2020 predominant correction that we had however possibilities are you’ll perchance well moreover stumble on how thiswould all play out it would fall within this line and we'll obliging abolish this one out obliging because weknow what precipitated that I don't want to train it for um for YouTube causes they don't enable us to trainthat however that's what had took save now we are in a position to stumble on how the entirety used to be form of obliging like in point of fact linedup within this so seeing that the pattern has uh has had a shift here with the s p and NASDAQ and allthat here’s one thing that we have now to moreover stumble on.
At as asserting hi there this would perchance be perchance bullishif we did reach that backside there within that fifth wave and then we're going to be attend inthe dwelling where we would possibly perchance perchance moreover merely nonetheless be to seem traditional growth all over the stock market perchance that shall beone thing that will perchance moreover merely even be very critical for Bitcoin so given these itsy-bitsy print then Bitcoin would possibly perchance perchance want achance here to seem a slightly decent pump especially that moderately plenty of oldsters were thinking that the stockmarket used to be obliging going to head down an increasing selection of neatly things haven't been figuring out that diagramand so the chance that Bitcoin can initiate up pumping through these Fibonacci ranges and receive onthe opposite aspect of this bull market toughen band there's no longer a full bunch of designate movements thatdeserve to happen to seem this kind of part figure out so the price that we're engaged on obliging now twentythousand four hundred bucks is a extraordinarily key designate.
Let's obliging train twenty thousand five hundredbucks we have now to pump through that this 50 Fibonacci stage goes to be one other very keydwelling so let's obliging train 21 500 goes to be the next phase that we have now to receive through and afterwe abolish that then almost definitely as this bull market toughen band does advance down then shall webe in a space to rapid initiate up going on the opposite aspect of that and from that time I ask that we'llinitiate up seeing this Wave 3 in point of fact play out and Bitcoin had the chance of going to that 30000 greenback designate which corrupt her fingers that that would happen so anyways this would perchance be where thiseach day picture of Bitcoin does waste whenever you happen to guys like suppose material like this please abolish purchase in tips subscribing Italked about cryptocurrencies daily and now I'm going to leap on the next cryptocurrencyto focus on about I'll stumble on you all within the next one.