why does unless you hope you're well just a quick update on Bitcoin before. just a quick update on Bitcoin before the long weekend and the reason I want. the long weekend and the reason I want to make this video is because of. to make this video is because of something I've noticed on Bitcoin now. something I've noticed on Bitcoin now for the last couple of weeks I'm sure. for the last couple of weeks I'm sure you've noticed it too which is that you. you've noticed it too which is that you know Bitcoin has just been stuck in the. know Bitcoin has just been stuck in the sideways range as you can see here and. sideways range as you can see here and it's just not letting go you know it's. it's just not letting go you know it's just stuck in this sideways range almost. just stuck in this sideways range almost like a pennants triangular shape for the. like a pennants triangular shape for the moment anyway but even looking at it on. moment anyway but even looking at it on a lower timeframe for example if I just. a lower timeframe for example if I just jump onto a 144 minutes time frame chart. jump onto a 144 minutes time frame chart which is a time frame I do look at every. which is a time frame I do look at every now and then yeah look at this.
now and then yeah look at this on this 144 minute time frame you can. on this 144 minute time frame you can see bitcoins been stuck in this sort of. see bitcoins been stuck in this sort of sideways range just going up and down up. sideways range just going up and down up and down as you can see here again in a. and down as you can see here again in a sort of tight consolidation and this. sort of tight consolidation and this tight consolidation on Bitcoin is a sign. tight consolidation on Bitcoin is a sign of strength it means there's probably a. of strength it means there's probably a bit more juice left here on Bitcoin more. bit more juice left here on Bitcoin more momentum left now one of the important. momentum left now one of the important things that we talked about in the. things that we talked about in the webinar last night with Peter Brent so. webinar last night with Peter Brent so just let you know last night I did a. just let you know last night I did a webinar with Peter Brandt and let me. webinar with Peter Brandt and let me tell you what a knowledgeable guy I mean.
tell you what a knowledgeable guy I mean Peter has got so much experience and by. Peter has got so much experience and by the way one thing I learned from Peter. the way one thing I learned from Peter is that he also trades Bitcoin I mean he. is that he also trades Bitcoin I mean he trades Bitcoin not Bitcoin futures that. trades Bitcoin not Bitcoin futures that actually the Bitcoin itself now one. actually the Bitcoin itself now one important thing that Peter mentioned. important thing that Peter mentioned last night which is worth mentioning. last night which is worth mentioning here is that the higher time frame is. here is that the higher time frame is usually the most important time frame to. usually the most important time frame to keep in mind so when you're looking at a. keep in mind so when you're looking at a chart of Bitcoin. chart of Bitcoin be sure to keep in mind and pay.
be sure to keep in mind and pay attention to the weekly time frame chart. attention to the weekly time frame chart and even the monthly chart as well but. and even the monthly chart as well but the weekly chart is important because. the weekly chart is important because usually in markets move in the direction. usually in markets move in the direction of the higher time frame okay now so for. of the higher time frame okay now so for example if I'm looking to chart a. example if I'm looking to chart a Bitcoin here on this weekly time frame. Bitcoin here on this weekly time frame two things I'll be paying attention to. two things I'll be paying attention to are firstly their moving averages so. are firstly their moving averages so where the moving averages are located in. where the moving averages are located in a weekly time frame but also the. a weekly time frame but also the momentum so I want to know what is the. momentum so I want to know what is the momentum doing on a higher time frame. momentum doing on a higher time frame for example on the on the weekly time.
for example on the on the weekly time frame and as you can see here the. frame and as you can see here the momentum has been bullish now since. momentum has been bullish now since April since this pulse fired and in. April since this pulse fired and in April the momentum just been rising and. April the momentum just been rising and rising as you can see this bring us. rising as you can see this bring us closer so we can see it properly and as. closer so we can see it properly and as you can see here on this weekly chart. you can see here on this weekly chart the momentum now has been rising as you. the momentum now has been rising as you can see from these green bars. can see from these green bars for about seven weeks now if we just. for about seven weeks now if we just count this as you can see we've been now. count this as you can see we've been now into seven weeks now into this pulse and. into seven weeks now into this pulse and because the average pulse signal lasts.
because the average pulse signal lasts about eight to ten bars that means. about eight to ten bars that means momentum the momentum on this pulse. momentum the momentum on this pulse probably is going to dissipate in about. probably is going to dissipate in about potentially three weeks maybe in a week. potentially three weeks maybe in a week maybe in three weeks okay but for the. maybe in three weeks okay but for the moment I am NOT gonna fight this pulse. moment I am NOT gonna fight this pulse I'm not gonna fight this momentum as. I'm not gonna fight this momentum as long as this pulse momentum is rising. long as this pulse momentum is rising this could mean there could be potential. this could mean there could be potential for further upside here in Bitcoin now. for further upside here in Bitcoin now don't get me wrong here I realized that. don't get me wrong here I realized that the charts are overbought I know the. the charts are overbought I know the weekly chart is overbought and even the. weekly chart is overbought and even the monthly chart now is getting overbought. monthly chart now is getting overbought too so even if there is some more upside. too so even if there is some more upside I think that the odds of a retracement.
I think that the odds of a retracement are still there the risk of a. are still there the risk of a retracement correction is still there so. retracement correction is still there so for the moment the momentum suggests. for the moment the momentum suggests that we could have a bit more further. that we could have a bit more further upside maybe down maybe up to the 9,000. upside maybe down maybe up to the 9,000 levels maybe to the mid 9000 but the. levels maybe to the mid 9000 but the bottom line is that it's a bit dangerous. bottom line is that it's a bit dangerous to fight the momentum at the present. to fight the momentum at the present moment on Bitcoin so for the moment it. moment on Bitcoin so for the moment it does appear that bulls remain in control. does appear that bulls remain in control but I think that the odds of a. but I think that the odds of a retracement will increase once the. retracement will increase once the momentum on this on this higher. momentum on this on this higher timeframe eventually dissipates and. timeframe eventually dissipates and eventually dies out by the way guys you. eventually dies out by the way guys you can catch the full interview I did with. can catch the full interview I did with Peter with Peter Brant in our members.
Peter with Peter Brant in our members video we talked about Bitcoin. video we talked about Bitcoin cryptocurrencies and also we talked. cryptocurrencies and also we talked about stock markets and currencies in a. about stock markets and currencies in a lot of detail lots of fantastic. lot of detail lots of fantastic information in that interview I will. information in that interview I will also be posting some excerpts some bits. also be posting some excerpts some bits and pieces of our interview with Peter. and pieces of our interview with Peter in these videos as well so if you. in these videos as well so if you haven't already subscribed please do so. haven't already subscribed please do so please also remember to click the bell. please also remember to click the bell icon on our video so you don't miss the. icon on our video so you don't miss the next update thanks very much indeed guys. next update thanks very much indeed guys and I'll see you guys in the next video. you [Music].
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