Technical analysis would call you a fool if you think this is a bear market.
The only time where I would entertain that more seriously would be
if we actually break down below this support here.
At that point, maybe we could start talking about bear market territory.
But right now, I would say we're still clearly controlled by the bulls.
He, everybody!
Today, I'm on the road, joined by The Moon.
No, we are not in the same hotel room.
Carl, welcome to the channel.
Everybody, don't forget to go down to the description
and subscribe to Carl's channel, The Moon.
What is up, Carl?
Well, I think--
You know what? Every single time I'm jumping on your channel
talking about Bitcoin, crypto, I always get so pumped up and so bullish,
so I'm having a fantastic day.
How is your day so far?
Yeah, it's going pretty well.
Getting ready for the DCentral Conference down here in Miami this week.
Really excited, on a panel,
we're going to be doing some live shows and things like that,
so it's going to be a fun time.
But I want to know from you,
is Bitcoin having a fun time right now?
- Well, let's dive straight into the chart. - Go ahead.
Okay. So we're starting out here on the daily timeframe.
And what we can clearly see here if we just take a look at the big picture
is a huge support line coming up here.
We also have this bearish divergence that already played out,
just like we saw a bearish divergence back here.
And I think we talked about this last week that we have a bearish divergence.
Actually, I think it was two weeks ago.
I was on your channel, and I told your audience that
"Look. We have a bearish divergence here.
Just like right there.
It looks like we might see a connection here."
This played out exactly as I predicted.
And the question is, of course, now,
are we going to go lower?
Or are we seeing a bounce from here?
Personally, I've said it ever since up here,
I think we might see a correction,
but I think we're probably going to see a big bounce from these areas
because we have so much support here,
not only from this horizontal white level,
so that comes from back there,
big resistance back there at $52.7K,
but also, of course, from this huge upward trending support.
So right now, we're running into a big, big area of support.
And if we zoom in a little bit here,
we can see that we're getting this descending wedge or descending channel.
And if we break the resistance out of this channel,
then I do believe we're very likely to see a pump to the upside.
So today, we are in a downtrend,
but what I'm saying here is that this downtrend can very, very quickly change to a massive pump
if we break the resistance here,
and the last line for the bears to defend would be this horizontal
at $59.6K approximately, right here.
So if we break above $59.6K,
then, in my opinion, the bulls are back in control
and we're very likely to go up and recreate another all-time high.
So that's like my big, you know, overview of Bitcoin right now.
Do you have any questions about that?
Yeah. I saw some people showing that right now, we could possibly be in a falling wedge.
If you drew a line from the top of that bearish divergence into the current pattern,
what would that look like?
To me, this doesn't really look like a falling wedge, to be honest.
- Got it. - It is a little bit too strange, you know,
because this--
this--
I don't know.
For me, I really--
- Of course, you can be a little bit flexible with lines, - Yeah.
but I try to stay a little bit more to the real classical, you know, very beautiful patterns.
For example, this, this channel here is just very beautiful, you know,
because everything is just like very connected and very, you know,
concise and comprom-- whate--
Ugh! I don't know.
I don't know how to explain it, but, you know,
it has to look a bit more beautiful.
- Just like this down here. - Yeah.
This was also a very, very beautiful falling wedge.
Like, everything just aligned very nicely.
No strange, flexible stuff, you know?
- Yeah. - Not really outside the box.
Everything very, very classical.
So I would say no.
I think that, if anything,
this is what we should pay attention to.
- This channel. - Okay.
So it looks like according to that channel,
- we just hit the top of it again? - Yeah.
And we should be heading back down to the bottom?
Yeah, that's a possibility that we'll see this.
Go retest and actually, for the first time in a long time here,
actually come down and confirm support at previous resistance down at $52.7K.
That would be amazing if we can do that and confirm support
because then I'm pretty sure the next time we go up here,
we are off to the races
and we're going to visit the moon here.
Now, do you see anything at all troubling about, you know?
Like, there are people out there right now that are saying that we've topped out
and we are, you know, now, we're in a bear market already.
What would you say to those people?
I think it makes no sense to call this a bear market right now
after we just got a higher high.
We have a higher high right there.
And we are clearly still in a bull trend here on the bigger timeframe
if you take a look at the higher highs and higher lows here.
So calling this a bear market is just technically incorrect.
Like, technical analysis would call you a fool if you think this is a bear market.
The only time where I would entertain that more seriously would be
if we actually break down below this support here.
At that point, maybe we could start talking about bear market territory.
But right now, I would say we're still clearly controlled by the bulls.
Yeah. I mean, I obviously agree with you 100% here.
So, Carl, do you have anything else prepared for Bitcoin?
Or is that it? We're about to moon?
We're--
Yeah, we're--
We're pretty much about to moon. Yeah.
Perfect. Okay. That's great.
Now, you know, Crypto.com has been absolutely crushing it lately, on a side note here.
It has held up pretty well during this dump.
It looks like it's probably heading to $1.
You have a very similar project.
A lot of people have heard of it by now.
Kasta
K-A-S-T-A
Very excited to see where it goes.
You know,
you made some comments before kind of similar to some stuff that Crypto.com does.
You want to take a brief moment and explain to our audience
what's going on with what you're doing?
Yeah, exactly.
I think, right now, most people already know about it because it's been going viral over on Twitter.
But Kasta, it's a project I am a co-founder of.
So we're going to really, really, really make a huge push
to make crypto payments mainstream by making them instant and free.
So Kasta will be an app that everyone can use.
And it's going to be not only payments,
but you can also stake, make interest on your crypto, on your Bitcoin, Ethereum,
and a whole range of other things.
So, yeah, if you like Crypto.com,
if you like Celsius and all these other projects out there,
you will love Kasta.
That's for sure.
So that's what we're working on right now.
And so the interesting thing is that Kasta the token is not live yet,
but already the hype over on Twitter has been going completely
completely like almost out of hand.
And today, cryptorank.io, they posted that over on their website,
Kasta is right now the No. 2 most visited token or coin over on their website after Bitcoin.
That's crazy!
It's not even live yet.
The app is not live.
The token is not live.
But for some reason, we have started some kind of snowball of, you know, buzz.
- People are talking about it. - Yeah.
So I think people are excited.
I think people are just like, you know.
People really see the value in having these instant and free transactions
because--
of course, if you send $2 million worth of money,
please go and use the Bitcoin blockchain.
Very important. You need security and you need to be safe, right?
And use the decentralization of Bitcoin.
However, when you go and--
go to McDonald's and you want to split the bill with your friend for like $3 or $5,
you can't use Bitcoin.
You can't use Ethereum.
You cannot use most of the cryptos out there
because the transaction fees are sometimes $1, $3,
even like tens of dollars for one transaction.
So we want to make sure that everyone in the world can use crypto and fiat
while paying zero fees.
So even PayPal, you're paying fees when you're sending money between each other.
And we're going to change all of this with Kasta.
So I'm super bullish and I'm very happy that you guys are on board as well.
Yeah.
Well, you guys heard it here first.
Carl says Kasta is the new Bitcoin.
This is not true.
I'm just kidding, Carl.
Alright, guys. Thank you so much for watching this video.
Make sure to comment down below what you think about Kasta.
Let us know where you think Bitcoin is heading to.
Are we in a bear market?
Drop those comments down below.
Don't forget to like this video.
That's all I got.
Be blessed.
BitBoy out.