In this video, I discuss one of the most exciting setups in Bitcoin’s price I’ve seen in my six years of tracking it. I start with a broad view of the market, noting Bitcoin’s slight uptrend alongside altcoins and a curious correlation with the S&P 500’s all-time highs, especially in the context of election years and global events like the COVID pandemic. Focusing on the daily chart, I explore the potential of Bitcoin consolidating for two months and the significance of the 618 Fibonacci level, pondering whether Bitcoin will drop to around $30,000-$35,000 or break into a bull market sooner due to influences like major firms owning substantial Bitcoin amounts. The video delves into the uncertainties and the intriguing possibility of an ascending triangle pattern forming, indicating a significant market shift.
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Intro 00:00
Incredible Bitcoin setup 00:50
BTC resistance context 1:40
Why this is a big deal 3:10
Careful here 6:40
Will require patience 9:00
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