Top technician says ride bitcoin roller coaster to another breakout

Top technician says ride bitcoin roller coaster to another breakout



welcome back to fast money another wild ride on the crypto coaster today as Bitcoin plunged below 10,000 before bouncing back the chart master calling for a move to this 10,000 level two weeks ago what we've got here is this and then a consolidation this and then a consolidation is just breaking out so we're back to the days of the Bitcoin bug perhaps I think the important thing is not about how I can go it's that the lows of December are likely to stand is important lows and that this is an enduring thing to be played on the long side be there the Bitcoin bug appears Carter what's next for Bitcoin well a Wild West to say the least but let's draw some lines because you always can that's the beauty of charts so we know around 3000 mated lows in December and we've had this great run-up but really it's quite optical it's quite orderly despite all the sensationalism it has been a well-defined trendline and it is found that trendline repeatedly and the sell-off today it's a four session sell-off peak to Toronto 30% we essentially got quite close to the trendline charts are important not because I say so because they've been around for hundreds of years the level is right and I think the betting should be that you will get a bounce you will get a bounce you will get a bounce and you will get a bounce let's pull this back a few more times here to put in perspective is the bigger picture we know we had this huge consolidation which is what this is and it's effectively I think that is your optical setup pull it back a little bit more our all-time high at nineteen thousand five hundred can we get there that's anybody's guess but what we do know is this is quite orderly the lows should stand as major lows in December and this pullback 30% I think it's an opportunity to get long if you're not long already hey Carter is is the downward is the chart basically that broke down in why is that not possible every time in other words we saw that bitcoin basically through those December's up to the December lows actually at one point really just gave up and and you had this that is it about establishing a new base well that's right but remember if you really had a long-term chart of course it's not only down here but it's down to the carpet down to the floor down to the floor below us right so it's still way way up from its inception in that sense and I've left that off of here to put this current action in more sort of immediate relief but the point is that this was such a big base and it was so abandoned and it was so hated just as this was such a base from which it collapsed so that you had really this standoff and you had this epic collapse you had a base again and now you've had this very symmetrical recovery I think that establishes those lows as the main event you've got the Bulls coming out of the woodwork once again Carter is is 20k a call for 20k is that nuts in your view you know a former highs are important and you know this thing it can move 30% down you could do that in a matter of hours the truth is right it's trades 24/7 I like the pullback I think that's key because the pull backs are what actually keep it going because you're shaking people out you're hurting people every time you pull back who won't come back again or who maybe will when it's much higher so it's not nuts I don't think it's nuts and the first try you saw is very chart herbal you you you

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47 thoughts on “Top technician says ride bitcoin roller coaster to another breakout”

  • Bitcoin rising and falling and everyone is out there dropping contacts and no one is helping out missing the most vital piece of this investment puzzle which is LEARNING people hate what they don’t understand and thus see crypto as Ponzi scheme, online fantasy… Well look to the bright side as Ethan of PUT CAPITAL will guide you through and answer your questions. What a time to be alive as bitcoin might be the biggest invention of humanity. Having 1btc grow into 7btc within 2 weeks is so cool with these guys. putcapital1233 @ gmail . com

  • Menjivar Ismael says:

    Many experts believe that at this stage Bitcoin (BTC) is driven by FOMO, while the market repeats the situation of late 2017. The excitement around Facebook’s Libra coin and potential crypto ban in India are also cited as major catalysts to the Bitcoin’s rally. for me i advice you multiply the little you have with Walter’s strategy, i was able to make 7bt with 1.5bt in 3 weeks with the same strategy, You can reach him on [email protected] or telegram @philwalton

  • LOL CNBC says buy that means sell. Look how nervouse this man is hahahaa. He knows hes about to make some ppl poor

  • Bitcoin is going to hit a million. And Bitcoin is not going anywhere, what people forget is that it is a decentralized technology so it does not matter what the price is you really think developers, scientist and intelligent people are going to stop working on the technology just because of the price? When the internet bubble bursted in the 90's, did the engineers and scientist just stop working on the technology? No, me personally want the price to go up for financial gains, but as a developer I don't care what the price is I just want to help contribute and make it even more accessible.

  • If we chart the charts of all the bitcoin charts up to this date, we can see the charts show charting charts is very charty. Also, I just shart'd my pants, interestingly enough, the pattern of my shit sharts looks very similar to the bitcoin chart. Therefore, charts are smart

  • Stephen With a V says:

    Again with the dishonest/misleading y-axes. Why keep pretending to draw linear extrapolations on a semi-log plot? I guess since they have a disclaimer it's okay to lie to people…

  • they want to get rid of their btc. that is why they spread fomo news BELOW, I REPEAT!!! BELOW!!! ALL TIME HIGH!
    Wake up!

    just a bear rally.

  • Whenever CNBC tells me that we are going up I immediately begin to want to sell and to do the OPPOSITE of what they say. (and justifiably so.) Because they LIE THEIR ASSES OFF FOR THEIR ELITE MASTERS. But this time… the long bull run that is coming just might be something that the elite want to truthfully pump up, and honestly represent through the media, because they want the masses to fully accept the collective delusion known as Bitcoin. They want us all to accept it as the new "money" in place of the failing fiat dollar, and then they can take control again and go back to business as usual as the runners/rulers/owners of Bitcoin (yea I know that most people think that the elite cannot control Bitcoin. All I can say to that is this… It must suck to be stupid.) . So in closing… we 'might' just 'might' be ok with this call from the evil death star of the main stream media that we are going to trend-line upwards and upwards on a steady trajectory for the next couple of years. (most of us already know that BTC is headed for ATH's that dwarf where we have been in the past.) Btw— listening to these anchor people discuss BTC makes it obvious that they know less than nothing about it. Either that, or they are just paid liars and shills. Both options are bad.

  • Buy buy buy. Next month huge run during the week of 2 Marijunan companies Aug 13th & 14th👍. BTC & Marijunan take turns/same traders so don't be fooled.

  • This guy is halfway decent and actually knows what hes talking about lol. Used to think it was only BK now Carter too

  • Yeah, it's all bit coin, and not the hackers that are blackmailing entire cities for millions of dollars worth of bitcoin.
    Crime is rising the value of bitcoin because these cities have to buy bitcoin to get their data back.

  • Is Melissa Lee allowed to invest in BITCOIN or any other Crypto currencies – is anyone for that matter at CNBC ? It's not stocks !

  • James Morrison says:

    People are finally starting to figure it out: Bitcoin is NOT going away.
    It is the new gold and a hedge against the crumbling financial system we are drowning in.

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