Can Bitcoin Market Break $7,800? NEX ICO Update!!!
Hey guys oh hey Maddie here bringing you another Bitcoin, morning, going, to be looking at why Bitcoin may still have some steam, ahead also. Going to talk about the next ICO since. This kind of crunch time for some of you I do apologize, for the late intro. But, we were busy here in the US for Labor Day that. Being said let's hop into it. Hey. Guys oh hey Maddie back with another episode of Bitcoin morning where the text starts here hope, everyone, enjoyed, their Labor Day weekend and those abroad enjoying. The beautiful weather area. It's about 90 degrees so I may not be as beautiful as some may think we're. Gonna start out on the daily chart here looking. At the Econo who clouds we are still holding above the baseline we defended, the baseline yesterday. With. Some price action hovering, above, or. With the lagna span hovering, above the price action bullish, sign but the lagging span is heading down into, the price which, should be indicating, some chop if we come back down and test. The, baseline, again, and I'm confirming my theory that we will come up a little bit more and then, head down, to. Try and form a lower low which, is going to be dangerous since we've been testing this lower low for some time I kind. Of want to go over some indicators, that we have here we, have the MACD with positive, cross coming over into the upside no. Signs of a cross ever happening, on the daily we can notice on the RSI that we're not exactly at a result, conditions, yet but, we're pretty high up there I think, that we. Will eventually push, into, the upper quadrant, of, the oversold, conditions. Which leaves us just a little bit room for, more on the upside and detailing the picture of our 7800. Projection. Which we've been predicting, for a few weeks now as most, of you know I came in somewhere around the 61 to sixty two hundred dollar range on, a lower low uptrend, looking. To get above these prices, and. Now, we're going towards at 7800. The 200-day moving average, still sitting well above that looking, at the boundary bands turning off our a komoku cloud we. Can see that we're kind of touching, the, top of the Bollinger Band indicating. That there, is some strength to this bull run closing, only once above it so. Still not super overbought, I expect, to see some. High, candles, over the next few days maybe towards. The end of the week which. Should, show us some clothes as well above the, Bollinger Band indicating, overbought conditions, which, we can confirm when the RSI I'm not, seeing any trends, of divergence, at this time. If. You're looking back at the last high you, have a lower high if.
We Get rejected forming, and it would be a lower high on the RSI, as well so no signs of divergence. For a trend reversal yet, but, we can look at the accumulation, distribution. Which. Shows a, better, view, of what the volume looks like people, buying and selling I don't, goes, along with the trends, we. Will see a divergence, if we break, this. 35. 7 which. Would be a higher low and a higher high but. In the meantime we've. Been having this steady support, at. This accumulation, line and our said steady resistance, as this accumulation, line and steady, support at this, resistance. Line so I don't expect us to really break out of, this accumulation phase, I expect to come back up to this resistance, line that. Gave us our previous, two tops and just, bouncing off of that and then going to test. The support of of. Selling. Essentially, or distribution. That. Being said coming, back, over here we see that the 50-day, moving average, is moving. Up into the clouds which should, provide. Some. Sort of downward trend, if broken I think that would be the first that, we would see along with the potential, minor. Death cross not with the 200, I don't see any crossovers, only 200 on the daily happening anytime, soon so not really much happening with Bitcoin outside of what we, discussed I think last Friday or Thursday somewhere. Around that point we, can note that the Bollinger Bands, are, somewhat. Wide at the moment. Yeah. Someone why'd it was it got a little tight here which, kind of helped us push with that uptrend, for volatility but, it's getting wide again if, we come down and. Test. The. 20-day moving average and break it which, is right now moving along parallel. With the 50 then. We could see a potential reversal trend that would be the only signal, that, we're getting I'm also going to be looking for an EM top on the Bollinger Bands that we've seen a couple times before there. Was one, back. Here, in. April. And, there was a more. Clearly defined, one here, in February, if, you're not sure with an EM top is an EM top is a Bollinger. Band signal. For. Negative. Trend reversal, and W. The. Fully inverse of it is called a W signal which, would be a trend, reversal to the upside so the way M table works is. That you come up on an uptrend, above. The, 20-day, moving average it's pretty stiff uptrend you. Close typically. You'll close above. Or. You'll test you, don't have to close above but you'll test the, upper. Band of the Bollinger Bands then, you'll have a move back to the middle this is why it's more defined to M because. You see that it clearly, comes down to the 20-day moving average and test and bounces up and, then you have you can't close above, the. The. Upper, Bollinger Band and, you're also looking to form a. Higher. High then, your previously, closed high you're. Also looking for, some. Sort of divergent, pattern, which. You can see also happened here so. Typically. When you're at the top you get a trend reversal and you will see some. Sort of, M. Top, doesn't. Always have to happen but, it's. Pretty common in terms of trend reversals, for Bollinger Bands right, now we're kind of hovering here so I would expect to see a. Test, of the hundred or the test of the upper end maybe. Even a close up of it and then, coming back down turn. On our echo Mogu clouds coming back down to the 20-day moving average, and. Then coming up and testing that that upper band again and then we would be. Reversal to the bottom with, the wide clouds, or, with the clouds with, the Ballinger bands widening, it, could also expect for some, lower drafts right now Bollinger, Band low, sitting at 6000.
91, I, would, imagine when the downtrend we would see that kind of dip down to that 5800. To, test that new low and, then ride the bottom Bollinger Band for some time, the. Clouds were, thickening, here for a period looks like they're consolidating a little bit due to some. My ward momentum, on the previous lagging span that's. All I'm really gonna say. Regarding. The daily, for, our last I checked was still looking bullish, will double check again, burn. Off some of these moving, averages to see kind of where we're sitting and get. A little bit of expansion so we're sitting above the clouds lagging, spans still trading pretty heavily above, the price action as well any. Tests of the moving span, with. A confirmation, backup would be very, bullish but. Problem. Being is that we're, trading so far away from. The we're. Trading so far away from the baseline we're, also seeing that. We're getting into some perverse. Old or overbought, conditions, in my apologies, so. That will be an indication. For some short-term downtrend. Also been hovering over, this. Upper. Bollinger Band trend as well and looks like we're trying to close above. It positive, price action upwards to $7,500. Range would definitely, indicate. That I'm hoping to get a peek up, to 78 a touch on the reversal, which would kind of confirm our trend, reversal that I'm looking for but, in the meantime we. Are at overbought conditions on the RSI look. For that we had anything else we can see here let's check out where some of the moving averages are sitting we. Saw a bullish cross of 100 and 200 on the 4-hour which, has been kind of leading to some of this more upward steam and the. 50-day moving average is sitting well. Above both of the so bull, trend in full effect for, the 4-hour looking. At a 50 100 200, straight line but. I do think we need to come back to this baseline, to test to kind of figure out where. We're going from, here looking. Over on the 12-hour just to get a, picture see. How that's going the lagging spin about to exit the clouds we. Have confirmed, a breakout, but. I think last time we checked this, or. The 60. Oh it, would be about 30 day. Check this for a baseline, test price. Was negative so, we'd be looking for, some sort of baseline test here back, in 6200. In the near future now. To see where the baseline sitting after we turn off some of these moving averages. You. Basically I'm sitting way down here so again really leading to the. Fact that we, are way ever bought we're super far away from the baseline as we, remember from our previous videos, the baseline action it's a magnet, for, this price action so. The farther away we get from it the more likely we are to hit a correction, so. There. Might be some, slight, correction, on the short term before coming back up really. Going back to what we were talking about about testing the 200-day. And. Then, just kind of try to sit in this 75 to 7800, by, seeing myself breaking. Below 7,000. Back. Into these clouds I'll be looking for confirmation between the 6800, and 7,000, range to. Show off any position, that, that wasn't, hit during my uptrend, because I had set cell. Borders between 72 and 7800. With. Jarring, them being between the 72 and 74 or 75 hundred, range so, I'll probably sell out the original the remaining. Of the seven point five to seven point eight Kay always, remember this is not financial advice and that financial advisor just person putting out my thoughts and what I'm doing in the space looking. At the weekly, just. The summer I suppose I have a cosh and I know I need to talk about next, so. Looking at the weekly still you know they come up with clouds still sitting way up here basically, I'm still sitting across but, again we're really nowhere, near overbought, or oversold we're. Just hovering in this kind of center period out. Sideways actions, waiting. To see what, it'll do on the short term MACD. Slowly. Crossing over with, a big. Cross over here last time we had a crossover when, the MACD Weekly was all the way at the top so. This is someone interesting to watch with. Some positive of trends but at the same time we could easily just come, up for a little bit on the crossover and then come back down so. I think that's the full picture of Bitcoin.
Weekly. Is really not gonna be telling as much, I think the daily is the biggest chart to watch that's. Where most of the action is happening which. You'll typically see after, the shorter timeframes, go. Bullish on the a comical cloud trends, just want to come back to the weekly for one second, check the Bollinger Bands. Turn off the explodes. Yeah, very interesting in the watch we, came up and tested this 20-day moving average on the weekly and. We were trading above it but it looks like we are now trading back below it so, a lot of a lot of cell pressure happening, in this, 74, to, 7700. Range. I. Don't. Know how it went up there is that correct. Believe, that sorry, oh it's just the I was gonna say we never went that high so yeah we're testing with a day average right now which, is currently sitting at, seven. Thousand three hundred forty three. Current. Price action at seven 372, so we're trading. Slightly. Above, it but I don't think the weekly will close. Above. That band I think we're going to get a rejection we could close slightly. Above we saw here, that. We had it slightly above close, back. In early. August and then quickly. Ended, up going to the downside but. We haven't really tested this. Bottom. Of the weekly trend the entire bear trend we, came down our closest, being here back, in the middle of June but. We haven't really tested anything there either so important. To note always. Look for your divergences, on the RSI which I'm not gonna really cover today look. For certain trends, or what have you all right so, that's all we'll cover for Bitcoin then just talk about necks here for, a, little. Bit of time so, a lot of people in the channel been. Asking me about whether or not I'm investing, into necks I did. Have someone, who was gonna ho TC sell me I. Have, been debating it so here's kind of my whole outlook on necks first, we need to look at decentralized. Exchanges. Right. Now idec's, holds a majority in the market mainly. Based on, the, fact that they have the best UI second. Second, or third is like either Delta just to put it into perspective so. I. Don't. Think. I'd. Like you you need to have a good UI that's tougher that's my first thought, the problem is what I see us right now most. Of them because of the market conditions are delaying their token release and. They're delaying the token release until they hit a more liquid exchange. Hoping. That that'll be kind of a hedge against their price going. Into an inverse market cap so. If, they're delaying their, tokens. To. Be able to list of a liquid exchange instead of a decentralized exchange then. That. Means that's gonna hurt the bottom line of decentralized, exchange volumes. I don't. Think next is going, to be useful for neo anytime. In near future neo. Hasn't, really been releasing many quality, ICS or might be a couple name like, on one hand but. It's not like once which he at first came out there were still a number of neo tokens, that needed. A place to trade on because, they weren't getting listed on these these. Centralized exchanges, are really good in the sense that it. Takes so long now for exchanges, like finance and cute coin to even list you will take a few months after token release but, in bear markets as long as I keep holding the strategy, of holding. Their tokens for an exchange like Q coin ubi or finance the. Decentralize, exchanges are going to suffer in terms of that volume, I saw someone put out some information which I haven't been able to verify myself, talking, about if you put $1,000. Into next stake and you would only get three dollars which is obviously concerning. And. Then, you look at the fact that their, market cap is still 25 million they were supposed to hold their sale in early. 2018. If. I recall first q1, I think it was so. When. You look at that 25 million dollar market cap it. Was a lot more fair back then but, most blockchain projects, that are getting hyped up now for. Example, from, away being one of them they're. Not even that 25 million so having. A decentralized. Exchange of 25 million is somewhat of a high-risk concern, the.
Only Thing I like about necks in terms of its sale is that there's no presale. Or crowd sale and it was done entirely, through lottery so, for the communities, who, are purchasing, next to. Actually, for the price to actually decrease you. Would need the, community as a whole to accept, that they're selling at a loss now. If you're looking at bitcoins. Future. And you think that Bitcoin could potentially, go down which. We are in that cam that financial advice then. You. Might actually see people sell, off their necks at a loss, because. Of that downtrend, that them looking to the. Hedge heads, they're been and not take a not taking an avalanche effect so. For me what I've done is I've taken a small portion of. Of. What, I would normally invest, and I put it into next that's. A full disclosure, but. It's just a hedge on the fact that there's. No presale or private, sale bonuses, that, can dump on. The. Rare the most of the investors or all the investors. Also. Next whitelist I think are selling, at 1.8 the to XO, t see at the moment last I checked which. Is typically a bullish sign for, market confidence with the into and IC o---- so. That being said I still think from a project perspective I, think next is awesome I support. These centralized exchanges, as you guys know I, invested. In both switchy o and in wand X both. Of them doing decent, in terms of returns but. Also I just like the fact that we would have more competition, in the decentralized. Expand. When we get back to some, sort of bull market where, tokens, have a quicker turnaround time, and release, cycle and, they're not being locked up for liquid. Exchanges, these, centralized exchanges, can. These. Centralized exchanges, can. Capitalize. On that type of volume you also to keep them to account, that by Nance is also in the future going to be releasing their decentralized, exchange but they are so much far out and, I believe up it was the shame, someone told me about that's. Also looking to release these. Centralized exchanges, but it's the same situation with switchy o where. They're. So far out you could probably still capitalize on the short-term or. NEX and not financial flex on a financial adviser these are just the things flowing through my head when I made my decision to hedge a small amount into into, next but. I think at the end of the day that, the IC o---- market is just because of how terrible it's doing because. Of the practices, that some of these projects. Or mainstream projects.
Are, Adhering. To I. Think, my outlook on next is not as bullish as. It used to be also I think the neo market is completely dead for ICS right now, there's. Just none releasing, there's no there's. No need for me to have a liquid, access, to. An exchange for any neo tokens, outside, of the ones that I'm receiving bonus. Fours which I can dump on to switch. Geo anyway so. Next we'll actually be looking to target, cutting. Into I'd ex's profit, on the. Etherium. Side of things that's where suppose she was looking to capitalize on the etherium side of things one, last thing that you should really be keeping in mind when looking at next is the, UI, decentralized. Exchange you eyes are incredibly. Important, in terms, of usability the reason why I Dex was able to steal mode. Of the thunder from ether Delta during its heyday is, because of ether Delta's usability. Experience, it was very poor and the people, who were using IDI were using it for the fact that it was the only place to trade. Illiquid tokens, that were being released from ICO as prior to liquid exchanges, so. When. I Dix came out pretty much crushed ether Delta into a 6%, of the total. Decentralized. Exchange. You. Know landscape. I think, last I checked. Last. I checked I Dex was at 65%, so. I would expect the same thing to happen that if, Nexus. UI, was, really, good and you're. Able to use the platform and, it's just you know next level right professional, then, I can. See a huge shift from idec's going from 65%, similar. To its previous competitors down. To maybe like 10. 9%, less than 10% which. Would create a huge market share for next so something to note I think. That's also a that, would fall into the Polish category, so, as far as I'm concerned I have downgraded, next because the Neo aspect, I think it's still a great project I'm definitely gonna be hedging some and it'll definitely be getting put on my list for something in the future to. Look for when. I'm looking for about $1 coins on the way back up, that being said everything on the channel is not financial advice on that financial adviser of just a guy on the internet please don't listen to me and I'm tired of people saying that they are, just. Take this video for what it is as a thought piece and. Take, it from, there do your own due diligence make. Your own decisions, understand, next is a security, for my understanding they, claim to be a security and we threw that in our previous videos they're, not technically a security, because they're not registered with the, Exchange. Commission they're also waiting for the product to come out so I don't understand that either I think it's just more, of a homage to their own local laws that they're dealing with in their jurisdiction, that, being said I am oh hey Maddie the tech starts here thanks for listening I'll catch you guys on the flip piece.