BITCOIN BREAKOUT! This Week Could Change EVERYTHING!

In this video, I discuss Bitcoin's subtle but notable breakout at the beginning of the week, breaking the upper trendline of a symmetrical triangle, which may not seem monumental but is significant nonetheless. I delve into short-term price action, drawing parallels to Bitcoin's behavior in the last cycle when it was consolidating around all-time highs, to provide context and speculate on potential outcomes. With about 11 hours left on the daily candle, I highlight the importance of monitoring these movements closely. Additionally, I touch upon the recent news of multiple Chinese institutions launching Bitcoin ETFs in Hong Kong, which signifies another win for Bitcoin on the macro level, especially considering the supply shock narrative that has evolved with institutional participation. This institutional supply shock, occurring in the month of the Bitcoin halving, is particularly noteworthy as it coincides with Bitcoin hovering at all-time high levels, a pattern not seen until months after the halving in previous cycles. I then compare the current market structure and momentum indicators to those from the last cycle, noting similarities that suggest a bullish scenario could unfold. However, I also acknowledge the need to watch for potential resistance and the outcome of the daily candle closure above the breakout level. With targets to the upside, such as $85,000 and $89,000 to $90,000, I express cautious optimism while not discounting possible downside risks. This analysis sets the stage for an ongoing observation of Bitcoin's price action, inviting viewers to consider both bullish and bearish perspectives as we navigate the market's developments.

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Intro 00:00
Chinese institutional Bitcoin ETF demand 00:40
Bitcoin supply shock 1:05
BTC price did this last cycle 2:10
Short term Bitcoin price action and targets 3:50
What to watch for this week on BTC 6:30

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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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