$100,000 pretty much exactly here.
Definitely a price target I'm looking out for for summer for Bitcoin.
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Alright, guys, today, I'm joined by Chris from MMCrypto.
We're going to dive in, and we're going to be discussing Ethereum.
How much higher can it go?
Is a $4500 in the short term price point for Ethereum possible?
We're also going to be looking at
is Bitcoin ready to bust?
It looks like something is developing.
And every time it's been seen before,
leads to a massive Bitcoin pump.
Alright, let's go ahead and jump into the video and see what Chris had to say.
Hey, everybody! Again this week, I'm joined by Chris from MMCrypto.
Today, we're going to be talking about a lot of exciting stuff.
We're going to start off talking a little bit about Ethereum,
but I really want to pick his brain on Bitcoin, see what he's thinking.
As always, Chris, welcome to the channel.
Thank you very much for having me.
Man, I have crazy content to share about Bitcoin today.
People are waiting for more than two months now, two and a half months, I just checked it,
for Bitcoin to finally pop towards the upside,
and I have some indications which points to watch the fact that probably the time has come.
Oh, the time has come.
- That sounds exciting. And as always, guys, - Yes.
if you want to subscribe to Chris's channel-- actually, I'm not giving you guys the option.
Go subscribe to the channel.
Just go down to the video description, click the link, go to his channel,
and you can get this kind of content from him every single day.
Definitely a YouTuber that I watch.
So, alright, let's go ahead and jump into it. What are you looking at for Ethereum right now?
Thanks, man. Thanks. Great to see that you're watching.
I'm watching your channel as well. Beautiful community. Great content.
Let me share the channel, go over into the charts, and we start with Ethereum, just a very quick overview,
then I want to go into Bitcoin because, well, now that everyone is talking about Ethereum,
maybe that's the time that Bitcoin is actually showing some interesting things in the charts.
So first of all, quickly about Ethereum before we go into Bitcoin,
you can see, we broke out out of this symmetrical triangle and hit the price target.
And actually, yesterday, like 12 hours ago, we broke out of this rising wedge,
and we hit the price target. So the question is is this the end of the run for Ethereum?
Personally, I don't think so.
But I really think that Bitcoin is going to take over some limelight in the next few days.
I just wanted to show you quickly here what my price targets are for Ethereum in the immediate short term.
You can see the Fibonacci extension level from the bottom to the top,
then we can see that we hit my golden ratio actually just a few days ago.
We also hit the 2X Fibonacci extension level pretty much exactly to the US dollar amount
we are floating around there.
In the next two or three weeks, I am personally looking out for--
- and I have to scroll up for quite some time-- - Wow!
- for the 4X Fibonacci extension level, - Whew!
and that would be the $4,345 level.
And I will pick your brain actually on the collaboration on our channel about the Ethereum price more.
This is just a ballpark price target I'm looking out for.
This-- even-- even Fibonacci extension levels are usually the next one to look out for.
2X, already checkmarked.
The 3X one is right here, where we are probably going to see the next resistance coming in at $3,747,
but until a significant bear trend for Ethereum,
I'm personal looking out for before that happens for the 4X.
But now, let's go to Bitcoin.
That's my personal favorite in crypto space.
Of course, the king.
And I wanted to talk about these red circles. I prepared something here.
So what are these red circles?
Let me quickly take the brush out.
So, every single time we had this red circle, one specific indicator was flashing.
Every single time this indicator was flashing, and I will tell you what it is,
we didn't see these price targets ever again for Bitcoin so far.
- Oh. - So the first time it was flashing,
exactly one year ago in April 2020, approximately at $7,000.
We never saw these price levels again.
Then it was flashing once again in July 2020 approximately at $9,300-- $9,200.
We never saw these price levels again.
Then it was flashing once again at $11,000.
We never saw these price levels again.
And what if I told you guys that within the next 4-12 hours,
we are going to flash the signal once again approximately at the levels of $58,000, $59,000?
So just judging from the history-- and it's not always like that but more often than not,
at least the last three times, it was like that.
If this signal is going to flash again,
we will probably not see these price levels again for quite some time, okay?
No 100% certainty, but let me dive into it.
Let me show you what this is about.
this exponential moving average I'm pulling it out here is the--
I will pull out both at the same time.
Here, you can see it.
And I will go to the 4-hourly candles so you can perfectly see it.
So what you can see here is the 4-hourly candles for Bitcoin.
And this blue moving average is the 200-period moving average on the 4-hourly,
whereas the orange one is the 50-period.
So the 50 and the 200.
Whenever the short term moving average here goes below the long term average,
this is called the death cross.
- In a bull market, much more important is the so called golden cross. - Yeah.
- And that was a big topic in 2000--BitBoy, you know. - Yeah.
2017, '18, '19. Everyone talked about it.
No one is talking about it anymore because Bitcoin was going nothing but parabolic,
so we didn't see any crosses.
When it goes parabolic, they are going more far away from each other as the time passes, right?
On the daily, we are far away from a death cross,
but on the 4-hourly, we just saw it.
And in a bull market, the golden crosses are really important.
And look at this, ladies and gentlemen.
- It is looming right now. It is looming. - Yeah.
Let me go into the charts.
I want to start with one in April because--
well, past performance is not a certainty for future performance, right?
But it is all we have with Bitcoin.
We are in uncharted territory.
History is all we have.
And you can see the last time it was flashing right here,
Bitcoin went up actually significantly
from $7,000 to,
in a matter of a few days only,
to $11,000.
That's a 50% gain.
Then the tiny flash afterwards was right here in July.
Bitcoin went up-- let me quickly remove this here.
Bitcoin went up from $9,000 to $12,000.
And then it flashed once again in October, actually, on the 9th of October, on my birthday.
- Oh, Happy Birthday! - And what happens?
Exactly. And I talked to people, "Guys, it is my birthday."
"The golden cross is flashing."
"And we are also breaking out of these three and a half years converging trendlines."
"I think it was the universe."
And on my birthday, well,
Bitcoin run started from $10,700, this massive parabolic run towards the upside,
all the way to $64,000.
And, well, guys, it is time again.
This golden cross is looming right now.
If I am zooming in,
within the next two or maximum three 4-hourly candles,
- we are going to see them crossing. - Wow.
And, guys, don't expect the price to pump immediately 50% within that one 4-hourly candle.
It can take one or two more days.
But the matter of fact is I'm personally expecting that now that all the altcoins took the lead,
that potentially Bitcoin is going to take back some steam again.
Bitcoin is probably, probably in the next few days here,
going to go close to the all-time high,
and maybe-- I'm still holding on to my altcoins, right?
But maybe Bitcoin is going to take the lead again.
Maybe Bitcoin is going to break the all-time high and, yeah,
take over some dominance back again, which it lost actually within the last few days.
Before I'm giving it over to you, BitBoy, if you have any questions or whatever,
I wanted to pull out once again the Fibonacci extension level.
There is a new sheriff in town.
And if this holds true-- and sometimes, I'm wrong, right?
I really think, on the balance of probabilities, this could be a very likely scenario here.
The 1.618 is the $75,000 level.
I think, if Bitcoin breaks the all-time high, this is the next one to look out for. .
And just as a quick surprise because everyone and their mother is waiting for it,
look at this.
The 3X Fibonacci extension level.
This is maybe something for June, for summer.
$100,000 pretty much exactly here.
Definitely a price target I'm looking out for for summer for Bitcoin.
So, this is what I'm looking out for right now.
I'm very happy to share that exclusively here on your channel because
this golden cross is something we didn't see for 7 months now.
So it is historic times. Today or tomorrow.
Yeah, it's exciting.
And I think, obviously, like, Ethereum has really stole the show for the last couple of weeks.
And we've been looking at the Ethereum to Bitcoin dominance level,
or, you know, the Ethereum ratio to Bitcoin,
and it's been climbing,
but right now, I think what we're about to see is
we're going to hit some resistance with that Ethereum versus Bitcoin price,
and we're going to see now Bitcoin start to run.
You're going to see Ethereum's value versus Bitcoin start to drop,
but overall, you're still going to see your Ethereum US dollar value climb.
And I think that's going to be really interesting,
especially if Bitcoin goes all the way up to $80,000.
I mean, if Bitcoin were to go to $80,000 or higher,
I mean, I think looking at that earlier number for Ethereum of, you know, $4300, $4400,
I mean, I think that's definitely in play.
Yeah, man, yeah. I can't wait for it. I'm a big Ethereum believer myself.
I hold Ethereum. Actually, let me show you something here.
If I'm going down--
I was posting this on the 19th of January here.
If Ethereum closes this week above the 3.5 years trendline,
I'll buy a space suit, right?
I posted it on the 19th of January. And this is the weekly chart.
It was the 3.5 years--
- I know you were bullish then as well. - Yeah.
And Bitcoin was at 3.64%-- against Bitcoin.
- Now, we are like almost at 6%, right? So-- - Yeah.
I think it's time to for-- Ethereum will continue to go up,
but it needs to take a breather against Bitcoin. I really agree with you there.
And this is why I actually basically also myself opened a new trade on Bitcoin.
I don't know if you can see. I'm going to have to refresh it here.
And I'm going to hold this one open for the foreseeable future.
I will take my first profits at $75,000.
Right now, I'm zooming-- I'm going down here a little bit.
It's at $108,000 in profit.
- I didn't go as crazy as usually. - Wow.
$3.9 million in contract size. But I'm going to keep it open.
I will take my first profits at maybe slightly below the all-time high and then at $75K
and eventually at $100K.
Yeah. You know, it's just so amazing to me, Chris, as we look at these charts
and we look back at, you know, our predictions that we made throughout the last year.
And it's just so amazing to see everything playing out exactly as we predicted.
- Exactly as we predicted. Yeah, man, it's beautiful. - Exactly, yeah.
The best thing about it is that
- all our followers are getting rich. - Absolutely.
Even those who are starting like a month ago.
Guys, that's what I wanted to tell you. If you only have $600, well,
just have a long term time horizon, and it will be fine for you.
Long term really beats the short term.
And that's the beautiful thing, man. You have a beautiful community.
I have a beautiful community. I'm very proud of that.
And the future is going to be great.
Absolutely. I can't wait to see where everything goes.
Guys, don't forget to head on down to Chris's channel, MMCrypto, down below in the video description
and the pinned comment.
You guys make sure to click that. Head on over. Subscribe to his channel.
Chris, thank you so much for being on the show today.
I think it's been very insightful.
To everybody else, make sure that you guys go down below in the comments.
Let us know what your price prediction for Bitcoin is over the next, I don't know, 4-6 weeks.
We'll see if you're right.
Alright, guys, thank you so much for watching.
That’s all I got.
Be blessed.
BitBoy out.