BITCOIN ON THE MOVE - Keep Your Eyes On THIS LINE!

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In this video, we dive into the current state of Bitcoin's momentum and explore short-term targets for the cryptocurrency. On the monthly chart, we observe significant bullish indicators, including the MACD crossing above the signal line and the first green candle above zero since 2021. Bitcoin's position above the 20-month moving average is also crucial for establishing a bullish environment.

Zooming in on the daily chart, we identify a positive structure of higher highs and higher lows, indicating a bullish trend. A similarity is observed between the recent swing low and swing high, highlighting the importance of the yellow trendline. This trendline sets up short-term targets, with $33,000 to $34,000 being a significant area of resistance. On the downside, if Bitcoin falls, it may encounter support at the 20-day moving average and potentially between the 50-day and 20-day moving averages.

We also discuss the importance of understanding Bitcoin's narrative and its implications on the market cycle. The current narrative, particularly surrounding the SEC's focus on Bitcoin as a commodity and the potential approval of Bitcoin ETFs, suggests a more bullish scenario akin to the 2016 cycle rather than the consolidation seen in 2019.

While short-term price movements remain uncertain, analyzing support and resistance levels along with momentum indicators provides valuable insights for traders and investors.

Intro 00:00
Bitcoin narrative has momentum 00:25
Massive monthly move 2:20
Daily higher high 4:15
Short term BTC targets 6:50

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*The above video references an opinion and is for news/information and entertainment purposes only. It is not intended to be investment advice, financial advice, or any solicitation, recommendation, endorsement, or offer that you buy or sell any cryptocurrency or securities. Trading in cryptocurrencies and securities is a high risk activity involving risk of loss so please seek a duly licensed professional for investment or financial advice. The information provided on this video should not be used to make any investment or financial decisions without consulting your financial or investment advisor. This video contains my opinion only and is not intended to cause harm or defame anyone or any entity.

Crypto Capital Venture is big on tracking bitcoin market in particular. The general premise of technical analysis videos on Crypto Capital Venture is that although Bitcoin price price moves very in a very volatile way, there is much opportunity in being prepared for upside and downside. We also cover Bitcoin news on this channel as it comes out.

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