EXACTLY How High Will Bitcoin Go?? – Levels Revealed!! BTC Price Prediction

What’s up guys it’s frank here from Altcoin buzz and today we’re going to go Over a bitcoin analysis we have seen a Pattern play out here which a lot of Traders were expecting to go in one Direction that direction being up and Instead this has gone in the opposite Direction so we’re going to see what That means for the price because this is A significant move a significant price Action that we’ve seen over the past 24 Hours and of course we’re going to start By looking at the monthly to get the Bigger picture then i’m going to take You right down to the four hour to look At this pattern what should have been a Bullish pattern and what actually ended Up breaking down bearish and what that Means for the price moving forward Furthermore we posted a video recently Alt season is here threats to bitcoin Holders so we’re gonna have a look from A technical analysis perspective on this Alt season by looking at the bitcoin Dominance chart we have a very very Critical level here one that all traders Should be watching whether you’re Trading altcoins or bitcoin so make sure You stick around until the end of the Video to see where i think where i Predict the price will move next based On a range of indicators now for those Of you who don’t know altquin buzz is First and foremost a crypto investment

Research company and we have documented Many 100x returns since 2017. In our new and improved altcoin buzz Access group we offer you exclusive Up-to-date research undervalued gems nft Minting opportunities portfolio Strategies and more so join our alt Quinn buzz access group by clicking this Link to make use of all of our exclusive Research memberships start at just 99 Per month so get in on the action here Or by clicking the link down in the Pinned comment section down below [Music] Okay so before we get on to this juicy Price action on the four hour chart We’re going to start by again looking at The bigger picture which is always an Important thing to do and we’re also Going to compare this bigger picture of Bitcoin to ethereum for those of you Don’t remember I actually made a video about ethereum Talking about this inside bar over here Why it was so significant we had many Inside bars in the past which when we Had a bullish breakout from the inside Bar of the next candle then we saw a lot Of movements to the upside now in Bitcoin we are seeing exactly the same Type of inside bar over here so for Ethereum first of all what i said was if We break out of this level which is the 3 300 level in in march then this would

Be a very good sign moving forward now Technically we actually have broken out From this inside bar which is a good Sign the month of march had a high of 3481 And the close of the month of march was At 3281 Which is just below the high of the Previous inside bar so this is giving us Somewhat mixed signals ideally this Month of march would have had a close Above the high of the previous month for This to be a really good sign of a Reversal now unfortunately the close of March as i said before was at 3281 Which is just two dollars under the high Of the previous month and really what we Want to trade this pattern is to see a Close above the previous high not just Sort of a breakout and coming down Because this could actually end up being A fake out where you know traders enter Along over here when they see it break Bullish but then as you can see we had Two of these wicks so We’ll have to see what the price action Looks like moving forward but in Principle this is generally a good sign For ethereum and for bitcoin as you can See we have almost an identical Situation inside bar here we had a Breakout but now we have these wicks so Far on these candles bringing us down so We’ll have to see what this price action

Looks like moving forward but as you can See this arrow here pointing to this Inside bar the last two times we had Inside bars and back in january 2019 and In march 2019 as you can see this marked The very bottom and over here in january 2019 interestingly enough we had almost An identical situation to what might be Happening right now where the second Candle did break out of it but only Barely the candle in february 2019 had a High of 4188 which is only just above the high Of the previous candle of 4114 But then we had again a wick which took Us down and then we had another inside Bar and here we had a clean breakout From that inside bar As you can see the high of this next bar Was well above the high of the previous Bar and of course this led to the Explosive move that we have seen over The past couple of years so It’s quite possible that you know we Have another inside bar here in april And then maybe we’ll have the same Pattern play out and we’ll just have Another explosive move up now we’re Seeing somewhat mixed signals on the Monthly chart first of all we have this Diagonal Channel over here and fortunately we Have what will likely end up being some Sort of support if we come down to three

Thousand six hundred dollars but for the Bulls out there this is generally a good Sign because first of all we’re an Uptrend right we have higher high higher Low higher high higher low okay this is All good for the bulls and we have now This diagonal channel which can very Well be viewed as a continuation pattern In other words a consolidation before we Have another even more explosive move to The upside so a standard way of looking For another move up is to take the low Of the previous move the to the high and Then to the low And now there you would see that we Would have a move up to 91 000 Potentially so all is looking well for The bulls but now let’s have a look at Some mixed signals we’re seeing from the Rsi and the macd the macd looks a little Bit scary we have this bearish crossover Very clear crossover into the downside And the last time we had this in September 2018 we indeed saw several More months of downside before we Started moving up so this is definitely Not a great sign but again we’re always Looking for multiple signs of either Bearish or bullish Action and the fact of the matter is That we have more bullish signs than Bearish signs so as i mentioned we are In an uptrend we have what looks like a Continuation pattern for another move up

And the rsi is showing us a bullish Hidden divergence so we have a lower low On the rsi but we’re seeing a higher High on the price so this is a Bullish hidden divergence so now that We’ve looked at the monthly chart we see That we are going in the right direction Let’s have a look at the daily chart to See what we can extrapolate from this Chart so over here you can see that we Have this Diagonal channel also very similar to The massive channel but this is one Smaller channel within it and as you can See now we’ve had a three touches at the Top of this channel multiple touches About four or five at the bottom so this Is proving to be a very reliable channel And i suspect that if we have a break Either to the bullish to the upside of This or to the downside of this channel We will probably see a a sort of more Powerful move out of that since i Imagine a lot of traders are trading Within this channel right now and as you Can see we are right in the middle of This channel so certainly we would Expect to see some sort of support if we Get down to the bottom of it and the Macd has just made a bearish crossover But as you can see we’ve had several of These bearish crossovers in the past Couple of weeks and we’ve pretty much Just rebounded from them so i don’t

Think that this is too much to be Concerned about certainly the daily Uptrend is More or less intact we had a high a Higher low a higher high you could Consider this to be a new downtrend but Really this just looks more like one Relatively controlled move to the Downside before we look at the four hour Time frame to look at the price action Tell me what do you think do you think That we are headed for more downwards Price action do you think we are more Likely to reach 39 000 first or are we More likely to start heading up towards The top of this channel to 48 000 so Type in 39 000 or 48 000 down in the Comment section below so before we look At what i think this price action means On the four-hour chart i just want to Show you this bitcoin dominance chart so This represents bitcoin relative to all Other altcoins in the market and as you Can see bitcoin dominance right now on Coingecko you can see that bitcoin Dominance is at 39.4 percent And this chart here On charts.cointrader.com Shows that this this sort of 38 to 2 to 40 level is very relevant now Actually here they chose bitcoin Dominance at 41 so obviously they have Somewhat different

Mechanism for calculating it but Approximately it’s this level and as you Can see we we’ve really struggled to Have a bitcoin dominance anywhere below 38 so it seems that this is a pretty Important support and certainly if we Were to break this altcoin season would Be In full bloom but because we are really Staying steady here because bitcoin Dominance is not Growing it’s not really in any Clear trend to the upside this gives Times for the altcoins to shine because Basically it means that Bitcoin is not dominating the market and Therefore altcoins are more in the Spotlight So definitely it seems likely that Altcoin season is here well it certainly Has been here and it’s likely to go on Being here as there’s no sign of bitcoin Dominance being in an uptrend okay so Finally let’s look at the four hour Chart here so before i show you what i Think this price action means this is Something which a lot of traders were Looking at this elliott wave one two Three four five they were looking for a Fifth move up they’re looking at what Looks like a triangle expecting this Move up and fair enough because we were In an uptrend that would be expected but Of course we’ve had the opposite happen

We had a bearish break from this Triangle again this green line is Support the red line is resistance so What does this mean for the price moving Forward well first of all look at this Volume it’s quite explosive volume on The four hour we haven’t seen this kind Of volume for many many days now So i think this is quite a decisive move Which tells us that we’re more likely Headed for more downwards price action Than we are for upwards price action Certainly the four hour is in a very Clear downtrend now And although we may come up over the Coming 12 to 24 hours to maybe the 44 000 level This what was previously support this Green box of course is now turning into A red box in other words it’s resistance And so what i think is most likely to Happen Is that you know possibly we have some Sort of testing of this resistance but Then just come down and test a new Potential support down at the 618. Certainly that’s a possibility but also Another possibility is that instead of Bouncing up from there we actually come Down to the bottom of this diagonal Channel and honestly for the average Trader this would be a better Opportunity because then we would really Have more sign of support

This has been a pretty reliable place to Find support and also as you can see From the volume profile at 39 000 there Is a lot of price action there and then Hopefully move up again from there so This is what i view as the somewhat most Likely scenario And i say that because the rsi on the Four hour here is Oversold here so it’s somewhat unlikely That we see more downwards action before A slight cooling off But as i mentioned we have a clear Downtrend on the four hour and the trend Is your friend you don’t want to play Against the trend so that is what i’m Personally seeing for bitcoin moving Forward so let me know down in the Comment section below what do you think Is more likely to hit first 39 000 Or 48 000 And finally if you want to check out More ta videos if you’ve enjoyed this if You like this analysis feel free to Check out my analysis on ethereum over Here And with that being said I’ll see you in the next one [Music]