Welcome to BitBoy Crypto!
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
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So, guys, Bitcoin is pumping.
We are crushing it.
We're just blowing through every level you can possibly see.
We've also seen Ethereum absolutely killing it over the last few days---
something I told you for the last week was going to happen.
We pumped all the way from $600 to $730 in a period of about 5 days.
I was able to catch a long with Ethereum.
I caught it around $615.
I wish I would have caught it earlier
when we had the big drop the other day, but then I was nervous.
People were talking about, you know, it could drop to $450,
so I was just kind of waiting to see what'll happen.
Once we got back up to $615, I felt pretty good that Ethereum was going to continue to move,
and that is exactly what we saw, so I got back in.
Basically, I quadrupled my money on that trade.
If you guys are interested in leverage trading on Bybit, you guys can sign up at bybit.bitboy.live,
but only experienced traders please because you can get wrecked.
So, I want to talk about Bitcoin a little bit and why I've actually jumped back over to Bitcoin
from Ethereum.
Some people are saying that Ethereum can move up to $800 in the next few days,
and why I do believe that is possible.
And-- and I want to be clear here. I'm talking about leverage trading right now,
my overall Ethereum portfolio that's off exchanges
that I just have, you know, sitting there for long term or medium term.
You guys know I'm-- I'll sell it like a cheap whore if i think it's gonna make me some money.
But, the fact is, when it's my leverage trading--
I've been leveraging Ethereum for the last two weeks.
I've moved back all my Ethereum on Bybit.
I moved over to Bitcoin because I believe after a day where we saw Bitcoin drop about a percent or two
at different times depending on what hour you're looking at it,
I believe $30,000 for Bitcoin is almost imminent.
Okay?
I'll give you some reasons why we could see some resistance,
but I do believe that $30,000 is in the cards.
I think we are going to hit it if not by the end of this year,
by the very first couple of weeks of next year.
We're seeing a lot of momentum on the charts,
and we're in price discovery so we don't really have a level of resistance yet.
Okay?
Now, we've hit up a couple, you know, we went up over $27,000 and bumped back down.
That's just one challenge.
I don't consider that really to be resistance.
We're looking at the $30,000 level as resistance for Bitcoin right now
because it's a large even number.
You can figure in the psychology of how people think.
Even people who got in in 2017 at the peak,
if they had held onto their Bitcoin, even they are in 50% profit if we hit $30,000.
If you look at the chart right now compared to the chart in December of 2017,
it almost seems like we are in that parabolic movement right now---
the parabolic movement that we want to be scared of,
where the price could drop back down tremendously and go into another bear market.
But, because we're educated on Bitcoin cycles, we know that is actually not the case.
This looks very parabolic, but if you go back and look at some of the moves in 2016 and early 2017,
you would see that they would look parabolic too.
The difference is, later on, the price went up so high, it makes those big chart movements early on
look it's very insignificant.
They look like nothing, right?
But if you actually go back to that chart and look,
there were several times where the price seemed to be going parabolic.
The momentum right now is probably going to carry us to $30,000.
And I am anticipating that move, so I'm going to tell you my exact trade that I'm making right now,
which is I got in around $26,500
when we had a big dip.
Now, it's around $27,000.
I am setting my goal for this long a little under $30,000
because what you'll notice is a lot of times why a lot of traders lose
is you'll set your sell orders at $30,000,
but people start selling that off early.
So I'm looking a little bit under $30,000 is where I'm gonna cash in on that trade.
Of course, if it hits, it's going to be a big trade, so I'm going to take some profits along the way
and things like that.
Of course, things can change at a drop of a dime.
If we get some really big negative news or something, I may go ahead and dip out early.
But that's what I'm anticipating.
I'm anticipating by the end of the year,
Bitcoin hovering around $30,000
Ethereum hovering between $800 and $900.
That's what I'm looking for in the short term.
Of course, anything can happen like I just said,
so none of this is guaranteed,
but that seems to be the indication that we're getting.
The one downside to this,
the one thing that we're getting that's news that does make me a little bit hesitant,
not hesitant enough not to make the trade,
is the fact that a lot of whales have been moving their Bitcoin around exchanges,
and if you didn't know, that can sometimes indicate a sell-off coming.
I do believe once we hit $30,000--
or like I said a little bit under $30,000 and people prematurely sell
maybe around $29,700, $29,600, somewhere around there,
people start baking in that selling action,
okay?
We are going to get a steep correction.
I think January, which has traditionally been a really good month for Bitcoin,
we could see the price drop back down to $23,000, $24,000, $25,000.
A lot of people could get wrecked, but I think we got a really strong support down there around $24,000.
But you guys got to understand,
and this is--
This is why you have to be objective to the market, not subjective.
Because when you're subjective to what you think, you're based on the whims of your emotions.
And if you didn't know,
all charting is, all technical analysis is,
is understanding people's emotional reactions to price action for an asset.
That's what those candles are---
the likeliness of a human to buy or sell an asset based upon the last movement of the market.
That's what it consists of.
So because of that,
what happens is we get up towards $30,000
and we start thinking, we start feeling the price is going to go up forever.
A lot of you guys have made a tremendous amount of money this week.
Okay?
I have!
So I know a lot of you guys, if you watch this channel, have.
And what happens is you start making this money,
it starts making you feel like nothing can happen or it'll go straight up.
Guys, at some point during this bull market, we will get 20-30% corrections.
It's history.
It's happened every time.
What's going to happen is we're going to go way up high,
we're going to hit crazy numbers like $30,000,
price is going to drop back down to $24,000,
some people are going to sell out,
price is going to consolidate,
it's going to go sideways for, you know, a couple weeks, a couple days, whatever,
people are going to start feeling like, "Okay, I think this is the bottom,"
they jump back in and then we shoot up higher than before and bust through the previous resistance.
So that is what we can anticipate over the next few months.
But here's the point,
Bitcoin to $30,000 if not by the end of the year,
probably within a few days from that one or one way or the other.
Obviously, we're only a few days now.
So just be careful.
Be patient.
Make sure you guys are making the right moves.
Don't get overleveraged.
Don't risk more than you can afford to lose.
Remember, corrections come,
but in the short term, we are looking at some more high prices in my opinion.
So you guys go and drop me a comment.
Let me know what you guys are thinking is happening in the market today
and this week and next week.
What are your predictions for 2021?
Let me know. Drop them below.
That's all I got.
Be blessed.
BitBoy out.