Bitcoin Bull Market STARTING SOON?! Realistic Bull Market CONFIRMATION AROUND TH [0:00-5:02]

Hey guys, what's going on? Chip here in today's video, I'm going to be sharing with you the exact level that Bitcoin needs to break to confirm a bull market. I'm going to show you four different levels that are all on the exact same price. And if Bitcoin can break through them, then I will finally be team bull and we will call a bull market. So without much further ado, let's go ahead and dive right on into it. Bitcoin, as you can see, is currently trading at $80,180 and many people are extremely excited and very bullish. But what you will find is that Bitcoin has not actually confirmed a bull market yet. We on this channel for the last nine years have been analyzing the Bitcoin price and we have pretty accurately called the beginning of the last two bull markets right around here and right around here. And we're going to try and do the same exact thing this time. So has Bitcoin entered into a bull market? Well, the bullish case is obvious. Bitcoin is now above the 20 weekly EMA and it seems to be gaining momentum and that is very exciting because in the last bear market, we only saw Bitcoin get above the 20 EMA one time. And when it did, we fell over and the second time it was actually a bull market. And so there's a very strong argument to be made that the bulls are about to kick off a bull market right now. But before you get too excited, I want to share with you what our confirmation is because it has not been triggered yet. First and foremost, breaking above the 20 weekly EMA and the fact that we've put an entire candle stick up here, both open and close is very encouraging, but we need to see this resistance break. So down here on the daily chart, there are four major resistances that we're looking at. The first one is the 200 daily simple moving average, which sits right around here. It currently sits at about $83,000 and you might think to yourself, Jeb, what's the point of that moving average? Well, what you will find is in the last bear market when Bitcoin broke above the 20 weekly EMA and a lot of people thought that we were going into a bull market, yes, we did break above the 20 W EMA, yes, we did set a candle stick all the way up here, open and close above the 20. But what you may not know is on the daily chart, Bitcoin rejected perfectly off of the 200. You can see the 200 daily simple moving average was the exact level, the exact price, the Bitcoin rejected. And after we fell from that level, Bitcoin would drop 63% in the next 82 days. Now I don't think that there's any chance that Bitcoin has that big of a correction in this future. But as you can see, the 200 D SMA is very important during bear markets. We also saw the exact same thing happen here about halfway through the bear market in 2018. Bitcoin rallied up to the 200 and rejected resoundingly with a great deal of force. And so we want to be careful about saying that we're in a bull market until this level is broken because it's proven to be the exact level that Bitcoin bear market rallies have ended in both of our last bear markets. And that level has not yet been touched in this bear market and it currently sits at $83,000. So that's the first of four levels that we need to look out for. The second one is this. If you pull a Fibonacci off of this high at 98 all the way back down to 60, what you'll find is the 0.618, the level that you see relief rallies, not new rallies, but relief rallies reject off of sits exactly down almost to the dollar at the exact same level. You can't even see it because that line we just drew for the 200 is in the way. It sits at $83,500 almost perfectly. And so that is convergent resistance if ever I have seen it. Now, there's another concern that I have about this 83, 5 to $84,000 level. And that comes from the CME futures chart. If you look at CME futures, what you will find is that there is an enormous CME futures gap which sits exactly at this level between about $80,400, as can be seen right here, about $79,000, excuse me, all the way up to about $84,000. And that creates a zone of resistance between, like I said, about 80 to about $84,000. And the issue is when Bitcoin has already run $20,000 to the upside in the middle of a bear market, by the time it gets up here to 84, it will have rallied at $24,000 in the middle of a bear market, it's probably going to be pretty exhausted hitting that level. And if you're recall what we just talked about, $84,000 is basically the exact same level that we just looked at between 79, the bottom of the CME futures gap and 84, the top of the CME futures gap, the top of the CME futures gap, which we fully expect to get filled. I totally anticipate the Bitcoin will go to 84 and fill the top of the CME futures gap this week. But when it does that, it risks running into all of this convergent resistance at the exact same level and having a very difficult time punching through it. Hitting the 0.618 is exactly where a lot of people that are in long trades are going to be taking profit. It's also the exact location that a lot of people are going to be opening up shorts. And that concentrated sell-side pressure all at the same time could end up being the end of this rally. So $84,000 is the level to look at. But like I said, there's actually a fourth issue with $84,000. And that is this. $84,000 is the exact underside of all of the support architecture that we built here in December and January that we then fell below.