[, Music, ], big things have small beginnings. Definitely not what i wanted to hear on my honeymoon settle in baby doinks. Our targets from our last video were hit, and i'm gonna show you what i expect over the next few days as well and aside from day two of michael saylor's, virtual conferences with 1400 other institutions.
Some big news for ethereum coming only days away and bitcoin is gaining in popularity as one of the most attractive investment assets, and i have no doubt that the babies soiling their diapers as i speak, will grow up in a world where bitcoin reigns.
Let's dive in welcome back you absolute savages. I'm, your host jonathan jingle bells and i just got off the phone with santa and let's just say christmas is not the only thing coming early this year.
Guys our targets from yesterday's. Video ring true, so we're, going to be diving in detail to those with bitcoin ethereum and some other charts here and some other groundbreaking data that will surely send shivers and quivers down to your toes wow.
So if you guys are new to the channel make sure to like make sure to subscribe and if you love blasting off make sure to lock your door and turn on those post notifications. So you get these time sensitive, critical updates when we post them and without any further skidoo let's dive in.
I hope you got your milk cause. It is five o'clock somewhere guys. So let's start off here with this visa news. So why is this big? On wednesday visa announced it was piloting a new program that will allow banks to offer bitcoin services, and previously they had been focused on helping crypto companies, issue bank cards and partnered with 35 crypto firms to date.
But this is the first time the company visa has offered crypto services to banks and, in addition to that, a reason this is also potentially good is that this might actually make it harder for us, lawmakers and regulators to thwart bitcoin's growth.
In my opinion, it's a little too late for that already. However, you never know ray dalio of the giant hedge fund, bridgewater and former goldman sachs. Ceo lloyd blankfein have suggested that authorities might look to crack down on the fast emerging crypto if it really starts to take off really no surprise it's, something a lot of us have been thinking about for quite a long time.
Even me, specifically back to 2017, when a lot of different stuff was going on and when they were considering etfs and everything like that. In addition to that guys, this is actually huge as well. A catalyst for further price action might come from chicago based cme's, launch of a new futures contract on ether next week.
This will give institutional investors a way to bet on the second largest crypto after they took positions in bitcoin last year. In my opinion, the reason i think this is big is because, ultimately, i think - and many people would agree with this right.
Ethereum is the next to be potentially scooped up by some of these institutions, but keep in mind we're still on the very beginning. The very breaking cutting edge of bitcoin, being adopted by institutions so even bitcoin being adopted, is extremely new and extremely early, but ethereum.
I personally think and again many people do as well that that will be the next cryptocurrency that could see that same type of adoption and remember this was something announced over a month ago, but it does say here: futures will be listed on february, 8th more than Three years after bitcoin futures went, live and as well.
You guys, which investment asset do you think, will be more attractive in 2021 and according to this survey, you see bitcoin coming in here with 30 percent uh place number four, actually beating out mutual funds, bonds, commodity investments and foreign exchange commodity investments, including silver and peter Sniff's, favorite aphrodisiac gold, scissor me timbers guys, so we're gonna start off today's, ta with actually the dxy, which is something we talked about yesterday.
Ultimately, as we talked about yesterday, we could see the dxy rally uh quite a little bit more up to about 92.6 92.7. This bad boy is still on the move. Now. What i find most interesting about this is something we actually tweeted last night.
So last night around, you know roughly 9 10 o'clock. My time ethereum hit a new all-time high bitcoin was pumping alongside ethereum, and if that wasn't enough, because that is somewhat rare lately, if that isn't enough, the dxy was also pumping, which again makes this combination very rare.
It makes me think that this market environment is slowly shifting a little bit right when we see bitcoin pumping with ethereum that's already kind of unusual. Usually they don't pump together, but combine that with the dxy also pumping.
Now that is a recipe for absolute pumpage. Now guys, as we talked about in our video yesterday, we actually came all the way up to our exact target and that's, where we face resistance right about 38 500.
. My next big level of resistance is going to come in right around thirty eight thousand five hundred and guys that also lines up with our daily chart, which is the most important chart, i believe, uh, and that actually would be right around thirty, eight thousand five hundred.
So, breaking thirty, eight thousand five hundred, i think, will give us enough juice to one hundred percent attempt forty k and then all-time highs after that. So i personally think that we're, very close to being bullish for bitcoin.
However, you do have to keep those targets in mind before we get too bullish. First, breaking like 37 300 and getting some significant closes there. But then, ultimately, i think 38 500 is going to be the target to watch, because if we get up to there, that's going to be the next big critical crunch zone.
Okay, as you saw from that clip, that is basically a big area of resistance. All of these lines going back uh, i think, actually, 12 months almost 12 months at this point have played an immense role in either supporter resistance for bitcoin's price.
When it approaches these and uh yeah, no surprise here, 38.5 roughly, i think, went all the way up to about 38.7 ish. But for the most part it's still closed within our long-term ascending channel here for bitcoin, and if we go to our four hour chart you can see, we pumped all the way up to right about 38.
5. You see it get rejected, but ultimately, so far we actually have found resistance or sorry support right around 36 000 roughly 36 200, and that's where we saw our last bounce, although also that is the 0.
618 of this four-hour chart, fibonacci retracement. So again, looking healthy for bitcoin in this chart. If we go to the one-hour chart, we're still, also holding significantly above so far, the critical crunch zone, which is about 35.
6. In fact the lowest we went was again right about 36 000. So if we have actually cemented 36 000 for support for bitcoin, that's optimally, really good uh. In fact, we got our one hourly closes on this 50 moving average here on this hourly chart, and currently we're.
Actually, testing for support 21 moving average here on this hourly chart as well. So all indications so far for bitcoin are pretty good and in fact we actually set ever so slightly a higher high uh. You know a little bit higher than the elon pump.
The elon pump went to about 38.6 and the pump last night went to about 38.7 almost 38.8, and so i just have a hunch that it is possible. Bitcoin could actually sit around and a little below this line for the next few days.
As for the most part on this daily chart, every time bitcoin does come in contact with any of these lines. Usually bitcoin does hover around these levels for a little bit before either getting a breakout or a breakdown, depending on which way the momentum is swinging, so that's.
What i'm gonna be looking for bitcoin uh and ideally, that's. Also, what i want to happen, because if that does happen, usually that would mean that all coins can have a little more room for growth and, as you've seen i'm sure old coins are actually doing really.
Well, specifically, i'm still oogling ethereum's, chart as it's. Looking very good. We actually had a pretty big drop earlier, but you can see it's still kind of climbing up there. It's still trying to hold these gains.
Overall, you see on this daily candle a very long wick to the downside, meaning this uh was getting bought up right. The buying pressure has been pushing ethereum back up and remember in yesterday's, video we said of the scenario of a throwback happening.
I would not be scared, i would advise you to, you know, be relaxed if we do end up getting a throwback, because that does happen very often with some of these patterns, and so we've. Clearly, not gotten pushed all the way back down to about 1400, which is what would be kind of like the retest of this pattern.
We did get a little bit of a pullback, but again i think it's, just ultimately showing strength in these markets and pullbacks to re-test. These breakouts uh right before they break out, are not unnatural or unhealthy in any way.
Regardless and without a doubt, i am oogling. Oh, so closely chain links chart as it is uh you know only maybe a percent or two away from breaking its all-time highs. Yeah. It's only like two three percent away: uh.
Its all-time high is roughly about 26 and almost 20 cents, so we're, a little less than a dollar below that, but ultimately guys. I do think it is possible that we're, going to continue to see some of these altcoins uh absolutely rally here.
If we go to the bitcoin dominance chart you just see. This thing is hanging on by a thread: uh. We're below some very key, very absolutely very important, weekly moving averages, the 21 and 50 moving average here for bitcoin dominance, so uh yeah is it alt season? I think it's very likely that uh the month of february is going to bring a lot of altcoin gains, which would look like this on the chart.
It would show bitcoin dominance. You know maybe decreasing a little bit because uh there's, no doubt that people are getting very excited about the prospects of other other cryptocurrencies. Besides, just bitcoin guys, i love bitcoin, but i also equally love ethereum and i personally think there is room for both.
In fact, i think there's room for more than just bitcoin and ethereum think about it. This way, when you buy a lunchable, do you just eat the cheese or do you also eat the meat, the cracker and the little uh little treat you know? Maybe the hershey kiss, maybe the little uh crackle bar you always want to have more than just the cheese wow, also guys, if your channel make sure to leave a like make sure to subscribe and as well make sure to follow me on my socials, my twitter.
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