what's going on guys Patrick here bringing you a brand new video today we
got another killer video for you guys full of information today we're gonna be
looking at fortnight accepts Manero as a payment option we're also looking at
etherium Riga is the number two spot as well as tons of other news that went on
in the cryptocurrency space but guys before we get start with that if you
want to enter a chance to win some free Bitcoin all the guys have to do is
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two give this video a thumbs up and number three leave a comment down below
saying something related to the video also you guys are interested in making
money trading cryptocurrencies even while the market is down make sure
you check out the link in the description or the first link in the
comments for the cryptocurrency trade allure group so far I've had an over 90
percent success rate and I post every single one of the trades that brought me
to a six-figure portfolio in that group so that if you're a complete beginner if
you don't have time to do technical analysis or you don't know how to do
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the description now get started with some technical analysis though because
there is some interesting things going on some interesting patterns for me that
I think you guys gonna be interested in hearing about now let's get started with
the daily chart and this is something that was pointed out to me by a viewer
and that's the falling wedge that we are trading and as you guys can tell we have
been in this wedge for some time trading in here and then right before we
actually had the drop let's delete the squiggly line that I just drew right
before we actually had the drop that we see here we touched it again so the
reason we've been following this the reason why it has been acting as
resistance and support that we can see is the amount of times that we have
actually touched the amount of times that we have made contact with the line
and bounced off so down here here in here you can see it acting as support
and then up here here here and then lastly all the way over here we can see
it acting as resistance we've been trading in this now what happened was we
dipped below over here so dip below obviously what happened we
touched the resistance again drop down to lower levels dropped under the
falling wedge now this is something that does happen sometimes in a falling wedge
we see a dip and what usually follows or what could fall I'm not gonna say
usually but what could follow from that is a move back up a large move with a
target if this plays out correctly the target would have to be somewhere up
here so that's a roundabout the $11,300 wouldn't be where between eleven twelve
thousand dollars would be where the target for this would be so now that
sounds really interesting to happen it also does come in perfectly placed with
this that used to be support and now became resistance is actually looking
very very cool to end the to end the shoulder on for the inverse head and
shoulder that we have previously talked about before now for that to play out
obviously we would have to break above that the head shoulders would have to
complete and cause a breakout if that happens we could see price rise all the
way back to what was at the resistance of the wedge and then if the if it plays
out and breaks through this we could see some significant gains now that is one
thing that could play out we're talking about both scenarios because a lot of
people have found this really interesting previously a lot of people
who were all the time bullish on Bitcoin in 2017 well they came off looking like
they knew exactly what they're doing they were just bullish 24/7 it was very
very easy now we see what happened 2018 is people who were bearish 24/7 managed
to get the popularity and managed to get the credibility because while they were
bearish and the markets just been going down so it's really hard for them to get
it wrong in 2018 if all we did was drop hover I'm trying to give you guys both
perspectives give you guys the possible bullish scenario and also the possible
bear scenario because trading technical analysis is playing probability and what
could happen it hasn't right now we are in a very interesting spot with Bitcoin
and what could be leading up to a very big move in either direction so I think
a lot of us still talk about the fact that we could see lower lows that's
something that's very possible as we see the 200 EMA right here the red line
that's been falling is acting as very very strong resistance
let's look up let's just try and zoom this in so the red line over here is
been acting this is a 200 EMA it's been acting as very very strong resistance
several times we see wicks going up to touch it or getting close to touching it
before correcting back down know what I am seeing is it's still a bearish
pattern on the 4-hour things still look relatively bearish with the fact that
all we've really been doing since back here is making lower highs we've just
continued to fall and as of right now there's no indication of us breaking
that pattern in order for us to start looking a little better in the short
term we would have to number one break the 200 EMA which is the red line it's
been acting as very strong resistance after that we have this region which has
been also acting as very strong resistance at around the 3900 to $4,000
and then completing what would be the right shoulder we would also have to
have a breakout from that so there's a lot of resistance in this region which
is why a lot of people are expecting Bitcoin to have a relatively big move
big move it does break above as we could see significant price increase however
for the most part to me at least on the short term in the micro perspective
things is still a little too early to call a bullish to me
I still think bitcoin is in a very very weird range where it could very easily
still drop and see lower lows but that's the way you see everything plays out
give you guys a little bit of both scenarios on what could happen some
interesting patterns for me it's gonna be interesting to see which one actually
plays out and then we're gonna be able to trade and do everything according to
that now interestingly enough although we started the year in the green if we
do take a little sneak peak look at that we're seeing the Green Market today
start of the year happy new year by the way to all of you guys thank you so much
for supporting the channel 2018 and let's hope for some great things in 2019
however Nasdaq futures they plunge 1.8 4% to open 2019 meanwhile Bitcoin surges
and crypto currencies overall surge so hopefully an indication of what could
come in 2019 I'm sure a lot of us would love
to see 2019 be a green year for crypto currencies because of such a bearish
2018 after a lot of us would love to see some bullish some bullish price action
in 2019 now in the 24-hour trades actually look at 133 billion dollars in
market cap 51 percent Bitcoin dollars now volume has increased a little bit
but overall it's still on the lower side not too long ago was just that 13
billion so it has increased a little bit from there but overall still we would
like to see it pick up a little beyond the 24 hour change the biggest gainer is
dex followed by Manero which had some pretty interesting news that i don't see
a lot of people talk about which we're gonna cover in just a bit we all see a
theory of up a ton also something we're gonna be covering in a bit and several
other Kryptos in the green definitely a green day with only 5 Kryptos in the
rent so an overall bullish day a good start of the year like I said hopefully
something we see continued now aetherium did something interesting aetherium
claimed the number 2 spot again from XR pierre from ripple now one thing to keep
in mind is that we're not a hundred percent sure this is something I talked
about previously about the ripple market cap on coin market cap it seems like
they are not factoring in several things that if you go on other place I believe
it was Yahoo that I used to show we see XRP or receive ripples a market cap
significantly larger than what it is right now meaning that aetherium in that
scenario is still ranked number three even though it on on coin market cap we
see it overtook XRP to get the number two spots so something to keep in mind
why is this happening though how did a theorem have such a bullish month ending
with an 80 percent gain which is insane if there is performing very very well
recently well there is obviously the Constantinople fork which is coming on
January 16th so they want to decrease they want to reduce the block rewards
from 3 to 2 which is overall supposed to help with inflation that's basically
what's going on in that the consent to note boat Fork is something as
apparently a lot of people are excited about since because since etherium
has been performing so well leading up to a January 16th it's gonna be
interesting to see what continues to happen now although I want to say
congratulations to XRP or for to etherium for overtaking xrp the number
two spots still there is something to be said about the fact that it's only on
coin market cap if you do calculate the full market cap of the theory of of x RP
of ripple then it doesn't in theory instill a ways away from
overtaking it now some drama in the crypto sphere because you guys remember
we talked about proof of keys just a few videos if I don't know if it was the
last video or the video before that either way I think it's the video before
the last video we talked about proof of keys and that's an event that's going to
be coming up in January something that's gonna be happening annually and that is
to keep exchanges responsible to keep them in check to make sure they are not
actually using your money without your permission and you not actually having
your money there so in simple terms those of you guys who did not watch the
previous video if you are interested in checking that video a while I believe it
was two videos ago we talked more in depth about this but what's going on is
the proof of keys event is there in order to something that happens in the
markets right now with banks and everything is the fact that banks don't
actually have your money you have a number on there but if everyone were to
withdraw their all their money right now at the same time the banks would not
have the money to hand out to you and that's because they use your morning to
make them money they invest they buy stuff they do a ton of things they loan
it out they do a ton of stuff with your money therefore your money is not
actually all in the bank so what what this was set up to do a proof of Kees
was set up to do was make sure that on on a given day people were going to
withdraw their Bitcoin from an exchange and see what see if the exchange
actually had their bitcoins now the interesting part that happened is we're
starting to pick up a lot more as a lot of drama going on around this and this
is mainly from hit BTC now John McAfee of John McAfee has previously said that
he is going to boycott um hit BTC for several other reasons that happened
before now they're involved with JAMA in proof of keys as well because they're
freezing customers accounts ahead of this event happening so over the
mother this is a quote that happened over the months from day trading I have
built back my balance to a couple of Bitcoin with the proof of keys
approaching I felt that hey BTC is the prime suspect for being insolvent so I
tried withdrawing my Bitcoin guess what they block the withdraw and froze my
account again so definitely going to be something interesting to see what
happens with the proof of key events what if this is going to be the only
exchange that has it what actually does play out if exchanges are going to be
prepared for this going to be very interesting to see but this did pick up
a lot of news a lot of heat is being given towards hit BTC they're taking a
lot of heat right now and for good reason freezing a customer's accounts
when they're trying to withdraw their cryptocurrency doesn't make sense and a
lot of exchanges I think there's going to be more they're going to get you
knows are going to be brought to the light that they are doing exactly what
cryptocurrency was meant to fight against with the bank's exchanges are
doing the same thing a lot of them have a lot of power personally I only use
finance that is the one I am more comfortable with so that's the only
exchange I'm using rather than coinbase not counting coin base where you know
you initially buy and sell your Bitcoin I use that previously as well now for
the most part to date rates everything I use either finance or bit mix for
leverage trading monitor news going on again I'm
gonna keep you guys updated we'll see what happens
with this event now Manero big news from an arrow the second biggest mover in the
last 24 hours well part of the reason for that could be the reason that
they're at the exclusive payment option the exclusive cryptocurrency payment
option for the fortnight merchandise store now I'm sure if you are you know
if you play the game or if you have kids to play the game or if you just anywhere
on the internet I'm sure you know what fortnight is it is the biggest video
game right now so much hype it's everywhere people playing the game are
making millions and millions of dollars playing the game streaming it absolutely
insane it's taken over the video game space while Manero managed to capitalize
on this because if you do go to merchant for night comm and you try and order
yourself a hoodie a t-shirt or whatever it is you can test this out yourself
well you can't by putting in random information just to
get to the payment method yeah they're going to be an option for credit card
it's going to be an option for PayPal there's gonna be a payment option for
globe you know they're not using all of the crypto currencies that globey
actually could use they're using exclusively Manero and fluffy pony did
post on toy on on the reddit as well this is yet another part of the effort
of global of project coral reef which was a merchandised acquisition effort
that was half funded by the Monaro community and half funded by global
summit narrow the exclusive payment option for such a big games merchandise
clearly got them a little bit of a boost on an already Green Day up over fifteen
percent I believe it was I want to ask you guys how many of you guys do play
for tonight let me know in the comments down below I do play it is my guilty
pleasure to play not even that guilty about the game is fun but I'd love to
play with some of you guys I play on PlayStation but I think cross-platform
works anyway so if any of you guys play if any of you guys want to play with me
we can set that up and that would be a ton of fun as well so let me know in the
comments now below know the guys that's gonna be if this video hopefully you
guys did enjoy if you did don't forget to leave a thumbs up and leave a comment
down below in order to enter a chance to win some free Bitcoin and of course be
subscribed and have your notifications turned on so you can check back in to
see if you did win so you can go ahead and claim it but guys thank you so much
for watching I'll see you guys tomorrow for another video
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