We have Natalie from bitcoinsensus. She is going to give us her opinion on the bitcoin market, Ethereum also to see what is going on, we’re going to go to the higher time frames and lower time frames going to give us her opinion. To see where can we potentially be going and her opinion for the next coming days weeks and months.
– Natalie, how are you doing?
-I am great, Andy. How are you?
-I’m doing absolutely fantastic. Even though bitcoin is below 20 000. I do have bitcoin in my portfolio. My portfolio is looking very bad, but trading is doing very well. So, it’s time to accumulate bitcoin, I guess. How are you doing?
-I’m really good actually. I’m really good better than what bitcoin looks like at the moment. But, what I’m about to show you, but I’m great.
-All right, fantastic. Well, without further ado let’s dive into the charts.
First, we need to say that if you want to start crypto trading, we can suggest you to use a crypto trading bot to make safe transactions. Earning from 200% up to 2,000% APY is a great bonus of using Jet-Bot copy trading platform. Binance crypto trading bot is a great way to create a passive income.
-If you don’t mind yes of course so we’re looking at a clean chart right now on bitcoin and the thing that I’m gonna do now I’m gonna use a trend line because someone told me and showed me this. But, I was also looking at this uh before so the three monthly charts are only for me to have an overview of what I actually look at and the previous high is technically 10k 11012k around this high right here and I’ll go down to the lower time frames and this kind of actually makes sense. Now when we have the drop the same thing that we spoke about before we recorded is that we don’t have an ace. We don’t have a marking structure. It’s just from here we just saw a huge bounce to the upside. Now we see the break, so if we’re looking at the resistance technically. Even if it doesn’t look that good all of this is technically a fake out from this resistance or a higher high which means that we just might pull back down to this level at 10k and then slowly and steady. I see the market reverse back up.
But I definitely believe that we will continue back down to these levels because the trend line is the trend is our friend obviously. The trend line is very respected. So, I definitely believe that this could be the right trend that we will come back down for a retest so when everyone talks about 10k. I do agree with them now when I started to look at the chart like this the last rejection that we have is where we are at the moment. This is the preview support this is the weekly if we go back in time this is the last consolidation before we saw the market starting to create higher highs and higher lows and this is the one that we are retesting at the moment. So, I do believe that we can consolidate for a while. But, I’ll just give us an I’ll just make this one a little bit smaller. We can see what we’re looking at. So, at the moment we’re just in a sideways market at 20 between 21 619k, and what I did as always based on fib. I took my Fibonacci from the high twenty three thousand two hundred and eighty c three back down to seventeen thousand five hundred and eighty three. This doesn’t look so good now because we obviously came back up to the resistance instead of retesting the 15-61. But, what I want to look at is the prices that we have and we have minus 23 we have minus 75 and we also have minus 1.2. So, if we take these ones away we can see that the take profits because I use them as they profit on my Fibonacci. We can clearly see how it kind of very good is combined with the support with the last two Fibonacci take profits at thirteen thousand one hundred and thirty and ten thousand five hundred and eighty.
I definitely believe that this will happen. Maybe we will not see like one huge bearish candlestick taking all of these levels. But, slowly and steady I definitely believe that we can have a push back down to these levels and looking a look at the market at the moment the four hourly we did. We’re closing in one hour. Let’s see how it looks on the three hourly charts. I’m actually not gonna do anything at the moment on bitcoin because I want to see. If we actually break below 18 000-19 000k and potentially a retest from below. It’s very easy also that can see a break of the support and then see the market close inside again. So, with the breakout candle and the candle after we could potentially see the market pull back inside again, and based on that. It is the summer the market is – I do not know, to be honest. but what I know is that. I will be very careful around this support because it can take us back up to the resistance again at around 21 700. Then we just might have another drop from there because we’re still in that range we’re still holding that last higher low there where we consolidated the first week of July. It’s still above that higher low right, we kind of if I was putting the trend line from June and July. We actually broke the higher low trend line. But from the way back from the last drop from the lows right here from there to that exactly, so we’re kind of already losing a little more structure and we tested it.
If we do, if we use another Fibonacci. We came up exactly and retested the 61.8 based on the break. This definitely means I would have taken a trade. I didn’t do it but it would have been exactly here of the trendline and Fibonacci level. So, but for me it looks like until we do not break that last higher low. It kind of it looks like it. We could have a short squeeze liquidity grab to the upside before we see continuation. But, anyway, it looks pretty scary. It does look like that lower is very possible at this point and based on this on this drop. We can see it looks but because the market needs to find a support to have it as a support. I do believe that we can come back down. We just might break it below a little bit but then hold ourselves above it and then long term 100. We’re going up to a new all-time high and I think that’s why I’m not so worried either because it just looks also healthy for the market to actually come back down to these levels and then pull back to the upside. Because if the market pulls back down to 10k. We start to see that this is the last support and we slowly instead see the market creating the higher lows the first low higher low high low even if the market will go sideways. We already know steadily that the market is stolen instead. It will break to that side again, which would be like an accumulation zone before going up exactly. So, all right. Short-term for bitcoin and maybe Ethereum. If you like and we will finish it off there, so I know you pulled out the three-hour chart and looked at the three.
I would still use it because we are in a sideways market and the last high was at 21 626 and depending on how this daily candlestick is closing because I need to have this bullish candlestick for me to be able to put the fib at 19 300. If we see a bigger pullback to the upside and we don’t reach the re uh the resistance again. I would look at twenty thousand four hundred and thirty-five potentially twenty thousand seven hundred four lower high right and to exactly a lower high. Then when the market got some power to push the price back down again right exactly. That’s why I’m a little bit unsure about these details that we have had to support. I can definitely see the next four-hour candle break below. But, if we see the market close below the support. I want to see how the candlesticks after look because looking at bitcoin. You can we can always say that when we come back down to support. The market always comes back in and we have this ugly fake out and everyone goes short. Then you see this happening and then you see the reverse back down so short term um waiting for us to eat break the support a retest and then potentially the drop. But, if we see us closing inside and hold ourselves above the support I definitely look at twenty thousand four hundred and twenty thousand seven hundred on bitcoin for a reverse then back downright fantastic. I’m also doing some analysis. I do think that 20 500 range.
This article is a transcription of a video made by Andy Bitcoinsensus
Original video: https://youtu.be/sxG–u4tqjM