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[Music] hey this is David for big bits and in this video I want to take a look at a little bit of crypto TA and give you a little bit of update on what’s going on with the channel and the giveaway that just happened so first of all the giveaway last month was a pretty big success in my opinion we had a lot of interaction with the giveaway itself a lot of different actions were taken a lot of different people took actions that helped promote the channel and entered themselves into the contest we eventually did select a winner at the beginning of February and the winner responded pretty much immediately and as our Gura see if they’re $25 in bitcoins so we’ll be starting a giveaway again soon we’ll get more details figured out about that here in the coming days hopefully post another update video and then we will continue to move forward with that I know it’s been a little while since I posted a video and that’s mostly just macaws I’ve been busy and I haven’t really had the time to make the videos I’ve kind of been working off and on on these things but I do have a day job and the family as well so these things are a low priority but I do enjoy doing them so when I do get time this is a very high priority when time is available so I appreciate you watching the videos and staying subscribe to the channel if you are and liking the videos when you do see them I appreciate all that very much but as far as the crypto TA I haven’t really been posting very much either on Twitter or the videos or any of that just because there really hasn’t been a lot going on bitcoins been very bullish and what I was kind of thinking was gonna happen definitely didn’t happen I was thinking we were going to retrace more but what you’re seeing and I can probably draw this on a shark for you really quickly is that bitcoin is flipping resistance into support okay you can see this was resistance for a while let’s go back a little further even so you can see this was resistance for a while let me make this chart bigger here that was resistance for a while it came back down and retested then that resistance was broken price shot up it came back down test the performer resistance and it shot back up and then pretty much the same thing happened again and now it’s shooting back up today it’s kind of hard to tell where it’s going but if it moves similar to where it has here then perhaps yeah somewhere in the ten thousand dollar range would be a target for it before it might come back down and test some sort of new support hopefully what I had kind of expected based on my TA didn’t happen but I didn’t post anything really and I didn’t really call out any of my actual traits cuz I really haven’t had any that smell so because my TA has been not so confident I should say the very bullish price action has made it to where I haven’t seen a whole lot that I wanted to make a move on that I felt super confident about but obviously going long has been to play we’ve been long if you followed me I’ve been long for a very long time all the way back here we really I really started to accumulate a lot and here recently I also called the bounce here if you check out my ideas on trading view that was really nice but I I think it was a good trade of course but hopefully we’re about to enter this new cycle this new bullish cycle that having is just months away three months away the surround the first of May I believe now is when it’s projected so it’s gonna be hard to tell where we can expect the price to be by then see where it was on the chart okay so we’re right here and we’ve got three months to go so price could very well just kind of oscillate in between here and range or it could shoot up go down who knows there’s a lot going on we’ve got the 50 over 100 crossover and it’s looking pretty good for a 50 over 200 crossover again in probably a few weeks I would say two to three weeks that’s if the price holds above this 200-day moving average I believe it will be forecasted to move up sometime at the end of February as long as the price stays above that 200 moving average and at that point pretty much everything is gonna be signaling bullish a bullish market other than maybe the 100 over 200 on the daily which that will eventually come around if price continues to move up so I got a lot to look forward to on Bitcoin I’ve mostly just kept in a spot position I’m not worried about trying to actually short are actively short and long and and doing all these things I think I did well enough accumulating for myself back here I’m not gonna really try and play it too risky at this point I think I’m completely fine where I am now let’s see some of the old coins I have been working with some of these basic attention token which has been doing really well lately well a lot of all coins have it is also about to get several crossovers it looks like it might be starting a bit of a parabolic move which many of the alt coins have seen this is on the US dollar chart so a lot of them have been shooting up drastically in price versus the dollar so hopefully this very long basically tension token position I’ve been building over the last few months I think the average price for my position was about 19 cents so hopefully that’s gonna pay off with a huge move on basic attention token for me and let’s see right now it’s looking like it’s still gonna be moving up which is pretty good that one’s looking really good let’s take a look at light coin now I did post an idea on this one for the weekly chart neither did this several months ago I also removed the Bollinger Bands because they kind of mess up the chart but I believe I posted to go long here and then well I started I said it’s a good time to start accumulating here and that was with the hope that it would break up thin but if you continue to accumulate on that next dip you would have lowered your entry and as I did been very happy with this move up recently now it’s moving into a bit of resistance on these moving averages but the 50 week moving average does look like it’s gonna cross over the 100 week so if they can break those resistances and move up it looks like it’s gonna be due for another move up so hopefully all these things work out and I’ve got a great entry on a long that I can hold for a long time let’s go back to the daily chart however and this chart is very similar to Bitcoin we’ve got a bit of movement down on the indicators here but it doesn’t really mean anything when you get that little bit of movement down you’ll notice on the stochastic RSI that movement down really doesn’t mean a whole lot until it actually breaks down here and you found here it actually was kind of a fake-out got down here and it came back up as long as the stochastic RSI stays up in this area and generally so does the stochastic even a little bit into that purple area there is probably fine with it so everything still looks pretty good for litecoin moving up in my opinion let’s take a look at it in vs. Bitcoin because that’s one of the things I like to do with these altcoins is I like to find them when they are a good opportunity to buy versus the dollar and on Bitcoin because when I try to accumulate these what I want to see is I want to see the price appreciates not only versus the dollar but also versus Bitcoin that way if I want to remain in a position with Bitcoin all I have to do is trade my line for Bitcoin so if I accumulated back here which I believe a lot of my position was then I could trade that in for more Bitcoin now which I might rather hold Bitcoin than an altcoin like litecoin or something else and I did want to take a look at the basic attention token versus Bitcoin as well it’s been kind of hovering in this kind of sideways range hopefully we will find a way out of this range to smooth our size going up stochastic RSI stochastic everything looks pretty good hopefully we can find support here this might be prior resistance from back here turning support we’ll see how that goes and it might just actually be a continuation and not really so much of a test of support we are kind of at a resistance here as well so if we can break above this there’s pretty much no telling how far it’s actually gonna go and we do have the 50 is already over the 200 and it might be coming back above the 100 if the price can say about the 100 so looking pretty good with basic attention token and the only other one I really want to look at right now is aetherium because it’s really having a great day and like most altcoins it’s been doing phenomenal here recently it’s got a similar chart to Bitcoin although the price has been moving up for aetherium while the price for Bitcoin has been moving down versus the dollar the last few days and I haven’t even looked at its Bitcoin ratio right now but when that happens it’s probably shot up pretty well versus Bitcoin so let’s take a look at that yeah so as bitcoins price went down and aetherium is price shot up versus the dollar it’s ratio versus Bitcoin increased pretty dramatically I mean those are pretty large moves given the history of the chart here so that one’s looking pretty good as well and it’s also got some crossovers coming it might be getting a little bit overextended RSI is approaching overbought areas and we’re already towards the max on the stochastic on stochastic RSI but the one thing that does look kind of good is that the MACD just flipped back up again so with everything being so bullet it’s hard to say when these things are gonna stop so if you’re wanting to go long I can’t give you financial advice but there’s a lot of people who will regret not getting in when the price continues to move away from them so you could have been right here you are hoping for the price to come back down and retest the lows again but it shot back up and you’ve seen this a lot with Bitcoin itself versus the dollar people are wanting lower levels expect lower levels we were in a bearish downtrend for six or seven months here when we got to the resistance level for it people were saying oh I’m waiting for five thousand to buy back in but the price moved up and it got up to here and they said well you know even it gets to 6,000 I’ll buy you know we broke out of that channel but you know it still doesn’t look that great I’m gonna wait it came down to test that prior resistance I didn’t go any lower so if you’re if you find what you think is a good entry you might want to go ahead and take it because you don’t know if you’re gonna get the one that you actually want and as I said I can’t tell you when to actually do that I can give you financial advice I’m certainly not qualified to do that I’m more of a programmer who enjoys TA so don’t look to me for your trade specifically although I like to think I do a pretty good job of it though but I have noticed that in the past watching these market cycles is that people think that they’re gonna get a better entry on the price and it just never comes and you go back and you look here once we came up and broke out here price didn’t even dip really you know it came back down a little bit here but it never went back below where it pumped up here so if you were waiting to kind of fill this volume gap here and you never got that chance and if you’ve waited to buy for that then you never had a chance to catch this and then of course it never pumped and it never did below that and it pumped up again and you did eventually get to get in here but you’ll notice the price really didn’t go down a whole lot and if you were down here waiting to buy you may never get that opportunity again so just something to keep in mind when you’re trying to figure out what you want to do personally is whether or not you think it’s worth waiting to get in when the price is acting so bullish Lee and of course we have the halving coming up I’m very confident myself that the price is gonna go up so I’m still buying in I will not even think about selling any of my crypto assets assets until we reach all-time highs with Bitcoin and my plan is to hopefully if we break all-time highs at 20,000 is to wait a short bit confirm that the trend is continuing up and sell off a little bit at a time and perhaps buy back in on dips so we’ll see how that actually goes when that comes around or if it comes around it’s yet to be seen but everything’s looking pretty good if we follow the market cycles that we have before with the price shooting up multiple times on the logarithmic scale yeah so let’s take a look at this one this is the BLX chart and I’ve already posted my predictions for Bitcoin price over the next decade but you know four years apart this was actually five because the halving got kind of front run here that was November of 2013 to December of 2017 actually that was four years wasn’t it well the first part of it happened there anyways 2013 to 2017 so another four years out 2021 where would we be at the end of that year hopefully somewhere around you know $17,000 hopefully where that would go but it’s hard to say but if we stay within that channel that’s what I’m kind of looking forward to if things continue as they have been so stay tuned to the channel please like this video if you liked it I know I kind of rambled on about some stuff here and it’s kind of repetitive I use the same indicators over and over but to me they’ve proven really reliable if you have any suggestions for the channel please let me know but stay tuned because we are doing another giveaway soon I will post updates to that as soon as I can and let’s see just uh thank you for being subscribed and if you aren’t already please do that other than that I think that’s it and have a nice day [Music]
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