Bitcoin Bull Market STARTING SOON?! Realistic Bull Market CONFIRMATION AROUND THE CORNER?

Hey guys, what's going on? Jeb here and in today's video, I'm going to be sharing with you the exact level that Bitcoin needs to break to confirm a bull market. I'm going to show you four different levels that are all on the exact same price. And if Bitcoin can break through them, then I will finally be team bull and we will call a bull market. So, without much further ado, let's go ahead and dive right on into it. Bitcoin, as you can see, is currently trading at $80,180. And many people are extremely excited and very bullish. But what you will find is that Bitcoin has not actually confirmed a bull market yet. We on this channel for the last 9 years have been analyzing the Bitcoin price. And we have pretty accurately called the beginning of the last two bull markets, right around here and right around here. And we're going to try and do the same exact thing this time. So, has Bitcoin entered into a bull market? Well, the bullish case is obvious. Bitcoin is now above the 20weekly EMA and it seems to be gaining momentum and that is very exciting because in the last bare market we only saw Bitcoin get above the 20 EMA one time and when it did we fell over and the second time it was actually a bull market and so there's a very strong argument to be made that the bulls are about to kick off a bull market right now. But before you get too excited I want to share with you what our confirmation is because it has not been triggered yet. First and foremost, breaking above the 20weekly EMA and the fact that we've put an entire candlestick up here, both open and close is very encouraging, but we need to see this resistance break. So, down here on the daily chart, there are four major resistances that we're looking at. The first one is the 200 daily simple moving average, which sits right around here. It currently sits at about $83,000. And you might think to yourself, Jeb, what's the point of that moving average? Well, what you will find is in the last bare market when Bitcoin broke above the 20weekly EMA and a lot of people thought that we were going into a bull market. Yes, we did break above the 20W EMA. Yes, we did set a candlestick all the way up here open and close above the 20. But what you may not know is on the daily chart, Bitcoin rejected perfectly off of the 200. You can see the 200 daily simple moving average was the exact level, the exact price that Bitcoin rejected. And after we fell from that level, Bitcoin would drop 63% in the next 82 days. Now, I don't think that there's any chance that Bitcoin has that big of a correction in its future. But as you can see, the 200D SMA is very important during bare markets. We also saw the exact same thing happen here. About halfway through the bare market in 2018, Bitcoin rallied up to the 200 and rejected resoundingly with a great deal of force. And so we want to be careful about saying that we're in a bull market until this level is broken because it's proven to be the exact level that Bitcoin bare market rallies have ended in both of our last bare markets. And that level has not yet been touched in this bare market and it currently sits at $835,000. So that's the first of four levels that we need to look out for. The second one is this. If you pull a Fibonacci off of this high at 98 all the way back down to 60, what you'll find is the 0 618, the level that you see relief rallies, not new rallies, but relief rallies reject off of sits exactly down almost to the dollar at the exact same level. You can't even see it because that line we just drew for the 200 is in the way. It sits at $83,500 almost perfectly. And so that is convergent resistance if ever I have seen it. Now, there's another concern that I have about this $835 to $84,000 level, and that comes from the CME futures chart. If you look at CME futures, what you will find is that there is an enormous CME futures gap, which sits exactly at this level between about $80,400, as can be seen right here, about $799, excuse me, all the way up to about $84,000. And that creates a zone of resistance between, like I said, about 80 to about 84,000. And the issue is when Bitcoin has already run $20,000 to the upside in the middle of a bare market, by the time it gets up here to 84, it will have rallied at $24,000 in the middle of a bare market, it's probably going to be pretty exhausted hitting that level. And if you recall what we just talked about, $84,000 is basically the exact same level that we just looked at between 79, the bottom of the semi futures gap, and 84, the top gap. gap, which we fully expect to get filled. I totally anticipate that Bitcoin will go to 84 and fill the top of the CM futures gap this week. But when it does that, it risks running into all of this convergent resistance at the exact same level and having a very difficult time punching through it. Hitting the 618 is exactly where a lot of people that are in long trades are going to be taking profit. It's also the exact location that a lot of people are going to be opening up shorts. And that concentrated sellside pressure all at the same time could end up being the end of this rally. So $84,000 is the level to look at. But like I said, there's actually a fourth issue with $84,000. And that is this. $84,000 is the exact underside of all of the support architecture that we built here in December and January that we then fell

below. If Bitcoin rallies up to 84, it runs into a massive wall of VRVP resistance because up here is where all of this trading took place and it'll all be right over our head. So, this is a little bit like a rocket ship taking off. And right as it's running out of fuel, it hits a ceiling. And that ceiling is quadruple strong. It's got four different resistances all at the same exact level. Right as you're running out of steam. That does not set up a breakout for me. Instead, that more so explains why on most of these charts, I'm seeing volume dwindle. I'm seeing volume dwindle here on Coinbase. I'm seeing volume dwindle, especially here on Bitstamp, for example. You've seen volume evaporate on Binance. Where is it? You would expect that if we were about to go into a bull market, there'd be a lot more of it. And then on top of that, that's kind of our fourth piece of evidence, but I'll give you a bonus one for the fifth. If you draw a one, two, three, four, five structure for our bare market thus far, what you will find is that Bitcoin going above 85,000 invalidates the 1 2 3 4 5, which means that everybody who's trading this Elliot wave formation is going to have their exit for long trades. Or on the other hand, their entrance for short trades sitting right here between 83 and a half and $85,000 because that's where they anticipate that the fivewave is going to start, which will once again lead to people opening up shorts right up here. as you fill the seaming futures gap. This is literally the setup for the perfect short trade that if it rallies $2,000 higher, okay, fine, you close the short trade, whatever. You lost 10%. If it runs, it runs and it runs hard. And so, this is not me saying that Bitcoin cannot go into a bull market because it can. What I'm saying is that I need to see Bitcoin do this. break above 85,000. I need to see it break above with confidence the 200 daily simple moving average which currently sits right here at about 835. I need to see Bitcoin breaking the underside of this support which currently it's at about 85,000. I need to see Bitcoin breaking through the 618. I need to see Bitcoin not only filling the CM futures gap but actually managing to keep running after it filled the semi futures gap because right now there's a lot of convergent resistance and it's all at 83. And so here's what I anticipate is going to happen. I am extremely confident, like wildly confident that Bitcoin is going to hit 83 to 84K this month. Sorry, this week actually, but here's my concern. What happens if Bitcoin rejects? Not only if Bitcoin rejects, but what if it doesn't hold 80 and it keeps falling? Then what if it doesn't hold 75 and it keeps falling? If Bitcoin manages to reject here and eventually falls below the 20 daily EMA, that's where I'd look at Bitcoin going back down to $60,000 or lower. If Bitcoin rallies up to 83 to 84, rejects, falls back down, and hits the 20 daily exponential moving average and bounces, then this point in time is exactly where I will call a bull market later on this month. If Bitcoin does not manage to break through 85 or retrace and then break through 85, if one of those scenarios doesn't play out and we start breaking below critical support over the next few weeks instead of breaking through this resistance, that's where we have to say, "Nope, this was not a bull market entry. Instead, this was a relief rally and a bull trap. " And so here's the purpose of this video. It's not to shake you out of your Bitcoin. It's not to get you to run for the hills and sell all your Bitcoin. It's to get you to understand that Bitcoin is very close to a bull market confirmation, but it hasn't done it yet. So, let's not act like it has because it has not. Bitcoin has not confirmed a bull market. It has not proven it. It's exciting. Emotionally, I'm excited about this rally. It's exciting to see Bitcoin back above 80K. the enthusiasm in the space, but logic dictates that our technicals and our fundamentals have to confirm a bull market and they have not done that yet. And until they do, we must remain on the side that is in power. And right now, power is still the bears. This is still a relief rally until proven otherwise. And so for me, if Bitcoin's able to break through 85 with confidence, then I will hang my hat up as a bear, which I really am looking forward to doing because I don't like being a Bitcoin bear. It's not natural for me. I've been a bull on Bitcoin since $3,000. And I will say I am once again a short to medium-term bull, which along aligns with my always present long-term bullish bias. I believe that Bitcoin is going to go into a rally, and I believe it's very aggressive bull market rally at some point this year. But the question right now is, is that going to start in May? by breaking 385 in the next few weeks or is this rally going to fail? Bitcoin drops back down to 50 and then sometime in the next couple of months bottoms out and then you see a Bitcoin bull market confirm probably in like August or September. That's what I'm expecting to take place. One of those two scenarios either in the next two weeks or within the next 3 to four months you see a bull market confirmation bare market ends and we end up going to the moon. I do believe that Bitcoin is going to rally very aggressively up to like $200,000 just in the opening act and then I think you're going to see 300 possibly even significantly higher in this bull

market. So takeaways, make sure that you're building your position now because the next several years in Bitcoin look incredibly bright. Second thing, don't get shaken out. It's not a time to go selling your Bitcoin and panicking. The market rewards people that hold for the long term. And Bitcoin is as great, if not even better of an asset than it ever has been. So the future looks incredibly bright. On top of that, we have very strong reason to believe that the future is going to be bright for Bitcoin, not only because of its technicals, but because of its fundamentals. It is a phenomenal asset and it is the place that people like to park capital um for the long run because of the debasement trade. Shorting the dollar longing Bitcoin has worked for its entire existence and it will continue to work. And so I highly encourage you to subscribe to the channel and stay tuned for more content as we continue to analyze Bitcoin in the cryptocurrency space. And I also encourage you to check out our new channel at Jetmack Invests. We have now uploaded five videos over here. We have 1,400 subscribers and our most viewed video has 10,000 views. There's only five videos on this channel and it's already absolutely rocking and rolling. So, if you have not already, make sure to subscribe to the channel at Jeb Mackfy Invests. I'm currently working on another video that'll be coming out in the next couple of days over here and it's a doozy. I think it might be the best video that we've ever produced on either of our channels. So, make sure you follow us on our new channel at Jetack Invests on YouTube. You will definitely be happy to watch our journey towards $1 million uh account over in our brokerage account and $10,000 a month of passive income. We're going to document that entire journey, showing you the real numbers, our real strategies, what worked, what didn't work. I'm showing you actual screenshots in this uh on this channel. So, make sure you follow us over here at Jetmack Invest if you have not already. Before I go, I do just first want to thank each and every single last one of you for watching as always, and I will see you guys in the next video. Peace.