Bitcoin BOOM? | Crypto Market TA and BTC Price Prediction

Hey guys what's up it's frank here from Altcoin buzz so today of course bitcoin Is booming in fact the whole Cryptocurrency market is doing very well We're well above the one trillion dollar Mark sitting comfortably at 1.17 Trillion dollars the crypto fear and Greed index is ticking upward up and up You can see over the past month we've Been shifting from 24 up until the Current value of 42 so i'll be talking Briefly about that i'm also going to be Talking about bitcoin dominance which Has taken a big fall over the past days And what that means for the Cryptocurrency market and of course Ethereums have been booming like crazy So we're going to talk about that and More in today's video but stick around Until the end of the video to find out Why this red circle is so important what Is so important about this candle and to Find out where the next resistance Levels are likely to be or where your Next targets could be if you are in a Long position right now Now for those of you who don't know Altquin buzz is first and foremost a Crypto investment research company and We have been providing you numerous 100 X returns since 2017. so if you want to get in on that Action join our alt queen buzz access Group where we document up-to-date

Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so click the link Up above or in the pin comment section Down below to take part in the action Today and also please don't forget to Like subscribe and click the Notification bell so that you don't miss Any future updates and finally please Note that none of this is financial Advice [Music] Okay so before we get started on the Chart we're going to have a quick look At bitcoin dominance have a look at this We have this ascending wedge bitcoin Found support several times here three Times then we broke the support we came Back to test this channel again we broke It to the downside Bitcoin dominance is at a pretty much a Historic low now not quite at the Previous lows but certainly ever since April 2021 we are basically Near the lowest that it's been and the Reason for this of course is that many Altcoins are booming ethereum Outperforming bitcoin over the past Seven days as is binance as is avalanche As is polka dots so it really is the Altcoin season right now but even if You're trading altcoins you really want To be understanding what is going on With bitcoin which levels are important

To be watching so we're going to have a Look at that but first of all have a Look at the crypto fear and greed index Last month of course we had extreme fear Value of 24 last week it went to 31 we Still have fear but the values are Increasing in other words there's less And less fear 30 yesterday and 42 today as you can see Demonstrated by this chart the market Sentiment is clearly changing the bulls Are in control and this can also be Shown on the chart so on the chart you Can see that we through this yellow box That we had this consolidation pattern From which we could have broken bearish And really it was a downtrend it Wouldn't have been that surprising if we Broke bearish from it but instead of Breaking bearish from it we used this as Support and we broke Bullish from the top of this pattern and Then when we broke bullish we came back Down to test it and you can see this red Circle marks the level which we came Back down to test we found support and Then we came back up again so this Single candle here on the 26th of july Was probably the most important candle That we've seen over the past couple of Months Which showed that not only have we Broken out of this previous resistance Of this consolidation pattern but that

When we came back down we found support So this is a very good sign that the Bulls Are in control That they're not giving up important Support levels and of course we are in a Clear uptrend as you can see on the Daily time frame here and now the next Pattern which we're moving into is this Diagonal channel again a very very Common pattern which you will see on Charts And you can see that we've found support Three times at the bottom diagonal here And we are grinding along the support Level so It seems more likely than not that we Will maintain the support and go for the Next resistance touching maybe about 27 000 over the coming days now when it Comes to the macd you can see that we Almost had a crossover to the downside But the bulls quickly regained control So again it's all systems go for the Bulls and right now we are testing this Sort of zone here you can see that we've Been testing the zone between the twenty Four thousand dollar level and the Twenty four thousand seven hundred and Fifty dollar level we've tested it three Times so The net the more we test this level the More the bears will get exhausted And the more likely we are to actually

Break it to the upside so now let's have A look at the actual resistance levels So the first resistance level is clearly The previous high which is at the 24 750 Level as mentioned we likely will break That over the coming days and when we Break that The next major resistance is up here At the 28 544 dollar level but before we get there We might see some initial resistance at The top of this diagonal channel but of Course it depends when exactly we reach The top of it but i'm going to go ahead And say that we might find some Resistance approximately just before the 27 000 let's say the 26 979 dollar level so these are the three Resistances that we are seeing of course The most major one being up at 28 and a Half thousand dollars i think it's more Likely than not that we will see uh 28 And a half thousand dollars if not Higher prices over the coming weeks and Months because of this very very strong Bullish action that we're seeing on the Daily time frame now when it comes to Support levels we're going to first of All go down to the four hour time frame Here we're also seeing a fresh uptrend Which started so the first support level Would be the previous four hour low at The 22 Three dollar level the next support

Level would be the previous daily low At the twenty two thousand four hundred And twenty eight dollar level And then finally if we break up both Those supports then as i mentioned we Have this very critical support level Down here at the twenty thousand Seven hundred and Thirty three dollar level so feel free To pause the video here to have a look At the relevant support and resistance Levels so these would be the levels to Be watching now i think it's relatively Unlikely that we break any of these Levels to be honest just because of how Bullish the price action has been but Even if we break one of these first two Levels the really big area of support The very strong area of support is down Here uh start approaching the twenty one Thousand five hundred dollar level Between that level and the twenty Thousand seven hundred dollar level this Is where the bulls are likely to fight Back hard and where the bears are Unlikely To see any strength Because of the strong uptrend which the Bulls have created So in conclusion yes of course the Weekly time frame is not looking great We have this clear downtrend but the Daily time frame and the four hour time Frame are painting a much rosier picture

For the bulls which gives them a clear Advantage here and even if we break some Of these initial supports we have very Strong support down around the 21 000 Level which is unlikely to break Certainly not in the first go and of Course a lot of confidence has come back Into the market especially with the Altcoins which have been booming over The past week so that's been it from me For today i hope you enjoyed the video Don't forget to comment like and Subscribe if you did enjoy the video and Of course we post many other videos on The channel here on fundamental analysis Technical analysis On chain analysis and more so don't Forget to subscribe and with that being Said I'll see you in the next one [Music] You