Bitcoin BTC To 100,000 In 12 MONTHS Following Binance US Ban Technical Analysis & Price Prediction
Were going to be talking about Bitcoin heading towards $100,000 US dollars in the next 12 months and why that is a possibility based on the Binance U.S Exchange ban. Alongside with the fundamentals of what we’re seeing in the worldwide economy. If you look at gold, we have just broken all-time highs here in regards to last year.
We haven’t seen highs this high for Gold since August of 2013. We’re going to talk about why we’re starting to see some of these Asset classes like Bitcoin and Gold see all-time highs.
We’re also going to be going over the Facebook Libra and the Ripple Partnership that recently occurred and then also look at total cryptocurrency market cap and some fundamentals and then take questions from our live audience.
So first and foremost, As you can see we have now broken past this major resistance of $13500 and you can see based on previous market structure there is no telling where we’re going to start heading as our next target is $16300 and then from there it’s going to be that $19000 dollar mark. The reason we’re starting to see a lot of this action is because once again now people are more familiar with this asset class people are more comfortable with investing and we’re starting to see more and more Institutional interests. You guys know in March Cambridge Analytics which issues to three hundred billion dollars of managed assets recommended to put 30 plus points of investment capital into cryptocurrencies and blockchain and as these institutions start to go through their compliance and move forward with purchasing Bitcoin we’re going to start to see more and more big volume come as we initially saw with the that $100 million dollar order. Which took Bitcoin up 20 % up and started this bull market, right now I want you guys to realize that what we’re seeing is extremely similar to what we saw in 2017 however we have a lot more of an understanding of this market investors are going to be a lot smarter where they’re putting their capital and liquidity.
Let’s first look at this Bitcoins technical analysis and then we will take some questions from our live audience. Looking at the Bitcoin USD BitFinex chart, I want you guys to look at this light blue line here. This is the exponential moving average the EMA, It’s a very good indicator of price momentum and direction and anytime we’re bouncing on top of that, that’s an extremely bullish sign. Now one thing I want you guys to realize is how far away we are from this EMA right now. You can see we’re about 53 percent above the EMA and in the past when we’ve seen that type of exuberance with the EMA you can see we saw that similarly here in December of 2017.
We went about 81 percent above the EMA before seeing a strong correction to the downside and so if we were to assume that we were going to see similar action to what we’re seeing right now with price action then we could assume that we’re gonna see 20–30 % more gains, before we start to see any sort of a correction here with Bitcoin. Now understand that when you’re trading a market like this especially cryptocurrencies where if we look at the total cryptocurrency market cap we are still under that 400 billion dollar mark and bigger markets like Forex that’s a 7 trillion market. We’re going to see a lot of volatility in this market and we issued an altcoin risk signal several weeks ago, we told everyone in our group that altcoins are most likely to start tanking and bleeding because of bitcoins exuberance and that’s exactly what we’re seeing now, If we do pull up any altcoin charts. Which is why we’re not necessarily going to go into some of these charts today and were just going to focus on Bitcoin, Ethereum and the total crypto market cap as well as Gold. Understand that Bitcoin in a Fundamental sense is very similar to gold and in that way we’re gonna see similar price action depending on the overall world economy.
As you can see with gold we broke major resistance and we’re starting to head up just like Bitcoin and we all should know bitcoin is the digital version of gold, it’s limited in quantity and everything that has to do with price will always lead back to one thing and that’s supply and demand and that’s why it’s extremely important to get your information from the right place and that’s why we’re gonna go into a little bit more of this technical analysis to talk a little bit about what’s happening here.
We’re not necessarily seeing the amount of volume that we saw here in 2017. However, we are seeing very strong amounts of buy volume with very little sell volume and what that means is people are realizing that Bitcoin in my opinion is an asset class. It’s fine to hold, It’s not an asset class that you want to just use on a day-to-day for transactions but more of a storage of value where you can put money in Bitcoin and expect the price to go up as more and more people seek to obtain Bitcoin as the supply stays the same but the demand increase will continue to see price action heading towards the upside. We’re gonna go through a lot of Fundamentals today as well and talk a little bit about what the Binance / US ban is going to cause and what possibilities might occur with Bitcoin.
Now understanding the breakout targets we have here the 16300k and 19000k level is the next targets for us to hit. I do want you guys to realize as well, if we look at this relative strength index its RSI indicator this shows you whether an asset class is overbought or oversold.
We’re only going to stay on the weekly chart today because if we do pull up a daily or a four-hour, one hour we’re not necessarily going to get much info on the overall long-term perspective of where we’re heading in regards to the targets.
In the initial bull market that we saw we stayed at these high RSI levels for quite some time you can see we initially went above that 70 mark, which is where you start to see more and more bullish action and this is where the asset starts to become overbought but we stayed in that range for a very long time all the way from you know the beginning of that bull market which occurred here in December of 2017 all the way to the start of 2017. So it was almost a year since we were at these overbought RSI levels before we saw downside and right now we’ve just entered that zone which leads me to assume that we’re going to most likely stay at these higher levels and see price action to the upside until we start to see some sort of dump. We need to see more and more institutional money come into the market and one thing I want you guys to watch here is the total cryptocurrency market cap chart because what you can start to see is we have a lot more total volume coming into this market.
The last thing I did want to mention here with bitcoins technical analysis is looking at this MACD you can see we also have a lot of room to go. So there’s no telling where Bitcoin can start heading over the next couple of weeks. What I will say is it does look very bullish we’re in a bull market right now, and we’re most likely going to see upside towards this next target of 16300 and the best way to play this is to trade in and out of the market, set up trailing take profits, set up trailing stop losses, and take your profits. Don’t be greedy because once again when we do see any sort of correction, it’s gonna be a hard one.
Now to move onto Ethereum’s chart I want to talk about a potential breakout. Looking at Ethereum’s chart we are now approaching this major resistance where in the past it was an ascending triangle that broke out and we saw gains with Ethereum of up to 289%. Understanding that this happened in the past and we’re also in a very bullish structure here and we’re approaching this major resistance here of around $370, we may start to see some of these altcoins breakout alongside bitcoin just because of the fact that investors are a lot smarter now and they’re going to want to put their liquidity in their capital in bigger coins that have larger volumes and those are the coins that you’ll see like in the top ten such as Bitcoin Ethereum, Litecoin, Ripple and some of these other coins.
So if we focus here on Ethereum we do have this very bullish movement here, we’re also now above this EMA which is also very bullish on the weekly. We may certainly start to see some sort of another breakout here for Ethereum to allow you guys to start getting some of those gains if you guys did miss out on some of those Bitcoin gains. With Ethereum the fact that if we pull up the RSI we are just now entering that bullish zone on the weekly. You can see in the past anytime we’ve entered that zone we’ve seen a very high amount of exuberance from that initial entry of that zone past 70, so we do have that chance to now see a lot more price action.
If you look at the MACD just like Bitcoin we have a lot more room to go with these slow and fast links. So understanding that we’re in a bull market, and Bitcoin is going to see the majority of the liquidity because people realize it’s one of the most limited assets in this market and then secondly, we may see further breakouts here for other coins like Ethereum But I don’t expect that for every single coin.
I’m going to talk about why, if we look at total cryptocurrency market cap right now you can see Bitcoin is starting to head to the new highs of around 65% dominance in the market and we’re starting to see a lot of these altcoins stay within their zones. What’s most interesting about this chart is if you look at the last selection there where it says (others) you can see a lot of these are all of the other coins outside of the top 10. We’re starting to see a major decline in their dominance actually all the way down to 15% right now and that’s where we’re seeing the biggest difference here right now. Bitcoin rising in dominance and altcoins outside the top ten lowering in dominance.
So what that means is you want to be? You specific with where you’re putting your capital and if you do keep it in any of the top ten understand, I would keep allocations small outside of Bitcoin because once again Bitcoin is now heading towards these new dominant highs and it makes sense because once again Bitcoin is the one asset that’s proven itself time and time again, unlike some of these other assets.
Now when we look at Bitcoin confirmed transactions per day you can also see here with the fundamentals not only are we back at the 2017 highs but we’re maintaining these levels a lot better than we did back in 2017 and in my opinion that has to do with the Fundamentals of us realizing that we’re in a smarter market more investors are coming in more institutions are seeing interest in this market we’re starting to see regulations start to mature.
I do want to talk about what’s happening with gold and the US dollar and the fundamental side of things.This article is extremely important here says Weakening dollar Iran sanctions could push Bitcoin and gold to new highs. So if we go into this article you can see it says the US dollar plunged to a multi-month low against the euro in the Japanese yen earlier on June 25th some analysts and traders are viewing bitcoins recent rally at some sort of anti dollar trade. If we were to actually go here to June 25th this is where we saw the major break out from that $11,000 level past $13,000 and that broke that major resistance here. Now what I’m going to be waiting for is that wick here? I’d rather see a body of a candle above this $13,500 range versus seeing just a wick. So the confirmation for us to know whether we’re gonna start heading towards the $16,000 level in my opinion is gonna be a daily candle body clothes above 13,500.
That’s what I’m looking for to expect Bitcoin to start heading towards those further highs because if we see a close on the daily above with the body of the candle above that 13500 range then that’s gonna be a very good sign that we’re going to start to see momentum upwards because you can see there’s very little resistance that we have to face up to that $1600 range.
Why don’t we ask a question to the audience, Who here was around December and January of 2017 / 18? That’s a big question because if you guys remember during that time it was a very different market with investors. That weren’t as knowledgeable as they are today and instead of us seeing bitcoin dominates just go through the roof what we ended up seeing is back in November of 2017 towards December, we went from 10% Altcoin dominants past the top 10 all the way to around 16% Altcoin dominance past the top 10. So the reason I think a lot of people back in 2017 invested in some of the coins outside of Bitcoin is because they were not knowledgeable of what was happening in the market. Now that investors are smarter you can see we’re seeing the complete opposite where those altcoins passed the top 10 are dropping significantly in dominance while the main coins especially Bitcoin are rising.
Therefore in my opinion for us to continue to pass that $13,500 resistance into that new target of $16300 it’s going to continue to cause altcoins to see a major downfall and major bleeding and that’s not a surprise.
If you guys were around in December of 2017 I always told you guys that 90% of these altcoins are not gonna be around 5 to 10 years from now and it’s just like what we saw in 2000 with the dot-com bubble where the majority of those websites are still not around. We’re going to see the same thing happen through this cycle where a lot of these altcoins are going to disappear but there are going to be those select few that see major upside.
There’s two theories that I personally have on Bitcoin before we go into questions. So number one is Bitcoin will continue to rise as people see more value in Bitcoin allowing a lot of these other altcoins to almost quote-unquote die off, that in my opinion is the most likely scenario. The other possible scenario here is that we’ll see a large large correction in Bitcoin where we’ll start to consolidate at these higher levels and what we’ll start to see is more liquidity flow into some altcoins because maybe investors feel as if some of these are going to have more potential than Bitcoin. But I think based on our last market cycle to the upside where we saw major exuberance and what we saw after that when we went through this whole bear market, I think more investors are gonna be willing to put their money in Bitcoin. They aren’t any other coins and especially with all of the worldwide state and health of the economy.
You know like the US economy and Ray Dalio in his book, he says every 10 to 12 years there’s going to be a market correction, and it’s already been over 10 years now and we haven’t yet seen a market correction since 2008. In my opinion that’s a very possible scenario coming in to the new year, so looking at gold very very interesting that we broke these very strong resistance levels. You can see this was a resistance level since 2014 so us breaking this in my opinion is starting to show that we’re seeing a shift in economies. Investors and institutions want to invest their liquidity and we may start to see more and more liquidity come into gold and Bitcoin as a hedge against other world currencies as well as traditional markets.
The last thing I want to say is, guys don’t get confused by all this BS news. I know a lot of people recently saw that those just a ton of headlines on Facebook releasing their own coin Libra or MoneyGram partnering with Ripple. I talked about those partnerships almost a year ago, all that we’re seeing is these companies pumping more money into press and Re-releasing headlines from the past. It’s complete press manipulation at the end of the day and you have to watch out for that.
I really wouldn’t be surprised for us to top out at 13500 just because of the fact that you can see when we saw that major break to 19000 the biggest support was 13500 and then when we popped back up and dropped back it also acted as another support and so knowing that this 13500 was previous support it can most likely act as this resistance, as you can see this wick extended quite a bit already and that could be a sign of a top. So there may be that possibility for that second scenario to occur where we see Bitcoin top out here maybe drop back down around that 9,000 at $10,000 range consolidate a little bit allowing some of these altcoins to start to see more liquidity. If you look at these altcoins they’re all at their bottom when you look at them in satoshi value which is what matters more than USD value. What we’re looking for is that daily candle body to close above that 13500 range in order for us to verify that we may see a major break to 19k.
Question from Mr. T: Do you think retail investors are in this pump?
I actually think that the majority of this is still retail investors. I don’t believe that we’ve yet to see institutions come in. I was with Brock Pierce one of the founders of EOS, he also has been in this sphere for longer than anyone I know, he’s a billionaire in the cryptocurrency sphere and I was with him for about a month and a half ago he mentioned Cambridge Analytics who supply all of the reference points for investments to 300 billion dollars in managed assets for the first time they said to invest in crypto and blockchain. You have to understand that these funds they don’t just have the opportunity to go and buy Bitcoin, right? They have to go through a lot of compliance they have to go through a lot of paperwork in order to start doing that and so if that was issued in March then we might want to give that about a year for us to really see institutional funds coming into this market.
The fundamentals are here,the world is in a crisis right now we are seeing the US dollar at all-time lows. We’re seeing other currencies at all-time lows, we’re seeing gold which we know is an asset that is typically used as a hedge during down market cycles we’re seeing that breaking new highs and Bitcoin starting to go back to previous highs in my opinion.
Check this out — Why was Bitcoin created in the first place on the white paper?
When you realize the fact that our market right now is in a crisis we have currencies in a crisis Bitcoin is the one option that makes sense in order to store liquidity because it’s limited in quantity. And once again it has demand there are more and more institutions more and more companies accepting it. It was created in 2008 because of the recession, It was an asset class created to store liquidity during the recession of 2008. Now Bitcoin has been able to mature and as we approach a possible correction in traditional markets. Guess what it’s use case is still there and it’s used during the recession to store liquidity. Guess what if we start to see liquidity come into Bitcoin being only a 400 billion dollar market cap right now with total crypto currencies combined. We may see the cryptocurrency market cap head to 1 trillion 2 trillion 5 trillion 10 trillion and so forth because once again, It’s a worldwide economy that can access Bitcoin versus just the United States that could trade the Nasdaq, Bitcoin is not restricted.
Question from Alan: What’s your play on? B&B; you holding any do you think it’s smart to hold for the launch pad for the IEO?
So by Binance is soon going to launch a margin exchange, but at the same time they’re banning US customers on their main platform. Let’s talk a little bit about that, Thank you for mentioning that Alan that is a very good topic. So understanding the fact that Binance is banning us customers towards its main platform is actually a good thing and the reason it’s good is because the US is a lot stricter than a lot of other countries. The way that Binance runs just isn’t in line with US regulations that are typically enforced with any sort of financial processing company or anything in that manner that deals with finances or investments or any capital. Therefore I believe that this is a very good move what we will most likely see is more stringent kyc processes in this new Binance US Exchange. There are probably more stringent limits to what you can trade, how much you can trade, how much you can deposit, how much you can withdraw, and they may also not allow you to trade every single coin that you can typically trade on the normal Binance platform and so in my opinion those things are all in place to protect investors.
I actually saw an article recently, which is very interesting, most hedge funds can only accept accredited investors that make over 250,000k US Dollars a year for at least two years or has a $1,000,000 plus net worth and so what I read in this article is that the US is thinking about possibly making that a lot less strict and allowing more and more regular folks to invest in some of these volatile investments with high risk because of what we’re seeing in my opinion with a market like Cryptocurrencies where the government is kind of out of control at this point and they just have to put a fence around the box and make sure that it’s safe and it’s regulated and that’s all going to be positive because once again the more regulations the more confidence with institutions and as soon as we see institutional money come into this market it’s going to make a noise. It’s not just going to come in out of nowhere the same way that $100 million dollar Institutional order that took Bitcoin up 24 % in one day and that launched this bull market. Now if we look from that day to now we’ve seen over 250% gains we’re going to see a lot more of that to come as more and more institutions gain confidence in this market.
As they start to release more and more features like margin trading I still believe the BNB coin is going to be valued very high if we pull up the BNB USDT chart you can see we’re still at these higher highs so you’re not necessarily losing much USD value holding BNB but if you look at the Bitcoin chart, it is quite as you can see a very big downside here but once again if that second scenario as we talked about occurs where we see Bitcoin tops out and consolidates that’s going to be the biggest opportunity for altcoins to start seeing major gains and that’s why we’re going to be watching over 50 altcoins. We have a list of them to send out those signals for our premium members in our discord group We just launched our new course if you guys are already a Premium Member make sure to take that course because it’s gonna help you tremendously.
Remember in 2017, a lot of people lost money and the reason they lose money is because they make emotional decisions. Trading a market is 80% emotional 10 % fundamental and 10 % technical so as long as you can get the emotional side. The last two parts are pretty easy and simple if you have strong resources and good providers of information like our TPC premium group. The two confirmations we’re looking for right now is Bitcoin going to continue to see upside and that’s going to be that daily candle body close above13500 But the second scenario is are we going to start to see altcoins Pop as Bitcoin sees some small consolidation at these higher highs and if that’s the case. It could very much allow us to have a ton of altcoin opportunities for 10 15 20 30 50 % gains over the next few days if not weeks and the cool thing is like I mentioned earlier, a lot of these altcoins are in perfect setup for upside. You can see this was a previous resistance and it’s now support that would be an entry point. If you were a scalp trader, right, once again this market is not Forex at seven trillion dollars, this is a 400 billion dollar market. We don’t want to just make those split-second decisions. We want confirmation and so if we start to see a possible reversal here this could potentially see a trade opportunity with BNB to take us 60–70 % up.
We’ll have the opportunity to catch some of these altcoins at these lows because it’s not just BNB. If you pull up TRX, look at that, it’s right at that support this would be a perfect entry for a scalp long and if we were to go to some other coins here.
Let’s pull up ETH BTC same exact scenario at these lower lows on the weekly. This is the time that will most likely see some sort of upside potential so that second scenario can be a lot more likely than we actually think you know for us to see Bitcoin consolidate and Altcoins start seeing upside is very very possible. Especially after this huge wick that just formed but the confirmation is going to occur with that body candle close above thirteen five. So that’s what I’m watching right now and I hope you are too.
Is this surge really founded on solid fundamentals? Joshua ask.
A hundred percent, you see all of these new companies that are starting to get into the digital currency marketplace. That’s going to create a lot more potential liquidity for Bitcoin as we start to see more coins come out and people are wanting to liquidate their Libra Facebook coin for Bitcoin. We will see more liquidity because of that and once again Facebook is one of the biggest companies in the world, so for them to open the doors for a digital wallet i’m pretty sure they’re not going to leave out Bitcoin in their digital wallet. If Bitcoin is the one that pretty much created the digital wallet.
Another fundamental aspect here to mention Alfonzo is the daily transactions of Bitcoin per day maintaining that 400,000 transactions a day per level versus only peaking at that. 2017 high versus here where we were actually seeing stability.
We predicted this all the way down here, I told you guys this was most likely the bottom and the reason was because we saw Daily Transactions at these peaks, even before we saw Bitcoin go back into its bottom. So Fundamentals would typically show you signs of what will happen in the Technicals, Fundamentals are very important just as much as technicals. We’re definitely seeing the fundamental and the growth in this market.
I’m trying to find the actual fundamental reasons that this market could potentially see upside and I think that we’ve covered the majority of them volume, institutions, big players, and big companies coming into this market. These are real and legitimate reasons that we’ll see upside versus Oh, I’m ripple and I have a lot of money let me pay this press company to re-release an article from a partnership that I made a year ago, I’m just not fond of that. As much as I am of daily transactions per day, that’s proof for me. Cambridge Analytics advises 300 billion dollars in managed assets, That’s proof for me.
Once again we’re waiting for confirmation right now to determine whether or not if we’re going to. see a Bitcoin consolidation and Altcoin Bull Run or we are going to see a continued upward momentum for Bitcoin. If we do see a continued Bitcoin upward momentum, that’s going to be a whole different scenario, where we’ll start to see potential targets even beyond that 19k dollar range and that’s going to be based on more in depth fundamentals, with any market going to the upside there’s always going to be corrections along the way. If we look at what happened previously when we move beyond that EMA we went over 80% above that EMA and right now we are at those similar levels where we’re way and above that EMA about 50% so we may have that potential to hit that 16k. target and then see that drop.
What would be an ideal scenario?
For us to maybe see a little bit of a bounce here go to this next target and then see the drop to find new support at 13500 and if that’s the case this is going to be the range that will most likely consolidate as we see Altcoins start to see their reversals and then eventually continued Bitcoin momentum to the upside.
I think the biggest question and the biggest thing we want to watch for right now is, if Bitcoins dominance is going to continue to move up? Here’s the last thing that I want you guys to watch for, when you look at Bitcoins dominance, it peaked out at around 62% during that initial rally that we saw here and so that’s going to act as that resistance. So that’s gonna act as that resistance and so for us to be above that right now if we can maintain above 60 percent dominance that’s a very very likely sign that the Altcoins are going to see downside and Bitcoin is going to be the only one to see the upside. If you guys are holding any altcoins right now I’m sure you’re seeing your Bitcoin satoshi value just drop down crashing because we’re seeing these Altcoins bleed against Bitcoin and there’s a reason for that and hat’s why we’re at high caution right now waiting for those two confirmations.
I’m ready to start covering this asset class Top-down because I just started advising a new company a week ago it’s gonna be the 10th company that I’ve started to work with, it’s a blockchain ATM company that has over 4,000 blockchain ATMs all around the United States. You know it’s really interesting to be in the back of the curtains with a lot of these companies one of the companies I advise Monarch, they. just launched their IEO. We’re seeing a lot more IEOS initial exchange offerings versus ICOS by these companies that are trying to raise funds and I think that that has a lot to do with finances, extreme successes in exchange. We’re seeing a lot more of those trying to start up especially with Binance Banning the US I think that there’s still another opportunity for another major exchange to come out.
The one thing I will tell you is if you are trading BITMEX just trade with the trend and that’s the best thing you can do if you’re trading Bitmex. If we’re in an uptrend trade the uptrend if we’re in a downtrend don’t trade up, don’t go long in a downtrend and don’t go short in an uptrend.
If you’re trying to catch the top you’re gonna be very very very unhappy in my opinion when you liquidate your full account right, but if you’re staying with the trend then there’s very little downside.
The thing with Bitmex is you want to set those stops very low because those wicks can really get you out, for those trading any accounts that are between $1000 and $10000 dollars you know margin trading with leverage on BITMEX or MT4 with. Hugo’s Way broker, It allows you to leverage your funds up to 500 X and that’s where I see the majority of capital being made, for those that have smaller accounts. For those that are trading over $100000 in your account, I would say you should use more of a buy and hold strategy and reposition and rebalance your portfolio on a consistent basis. So what that would mean is if you’re going to put in your long position here for Bitcoin let’s say it breaks 13500 and you decide to dollar cost average another position whether or not we consolidate here you hold that position maybe you wait for that second target like 19k to hit before liquidating that because when you have larger funds you can make more capital without leverage and it’s a lot less riskier.
Well, thank you guys so much I appreciate and value each and every one of you if there’s any sort of feedback or recommendations or improvements that you think we can make to the YouTube channel to the discord to the premium group to the course send it over to me on discord as a p.m. I’d love to hear your feedback. We’re always striving to make things better for you guys we’ve gotten the most amount of members this year so far. So we’re super glad to service you guys and we’re super excited to add more features, I just had a meeting with a crypto tax specialist. So we may be able to get a tax specialist on board on the discord for those of you that have a lot of those Tax questions and for even additional services that you can negotiate with the expert as well.
I’m super excited to be the number one educational platform for trading financial markets and as we start to see the Cryptocurrency Market turned into a Trillion dollar market just like Forex and just like Stocks. We’re going to be on the forefront of every single one of these coins every single one of these investments and I’m gonna make sure to provide you guys the best quality content and with that being said until our next video
TPC family, I’m Naeem Al Obadi exiting!