Today i'm going to break down the charts on the short term, tell you exactly what you need to anticipate going into this weekend. It's tough for me to get this, but there's a lot of things happening right now on on the short term charts that I just I wanted to get this data out to you. What to track, what to watch for, what I'm watching for kind of going into overnight. It's cool to see Bitcoin moving to the upside, but there's a lot of resistance right now. And this is where we start tracking confirmation. That's why we do technical analysis. We're active. We're at a really huge fork in the road for Bitcoin. The bulls or the bears are just at it right now. So let's talk about this and then we'll pivot over to Cardano. This is **Bitcoin **video from just two days ago. Real quick, quick clip. So that's the move we were below a huge resistance area and now we are in it, now we're in a resistance storm. And I want to go over here real quick, a six hour. You can see some notes I have on the screen. That is a neckline, something we were also talking about in that video. I believe it was that video huge, just set up for for Bitcoin to make the move into the resistance area that it's now in, which is and it's not a perfect looking inverse head and shoulders by any means, but it's a true story being told. The bear's back to the bull's left shoulder there. Step in a little stronger bull. Step in. There's one more time right shoulder bulls to the neckline breakout. That's where we are right now. That's that's a big move for Bitcoin. We wanted to see that happen. It has happened. But we're again, we're in the eye of the resistance. There is no better way to put it. And what that is, is it's a six one eight line of the Fibonacci here to the seven eight six right here. And then just above that, we have just this entire gap leading into the lower trend line of this pretty large rising wedge. Bitcoin fell through to the bottom. We had a breakout to the bottom. But there are some good signs happening for Bitcoin right now that say, OK, the bulls have a shot here. And real quick, I do want to chart this Fibonacci. This is a swing high to that swing low that we had. And you can just see that green channel there, seven, eight, six up here to the six one eight. That's the area of resistance we were looking to get back into. And now we're there on the six hour chart. So what we're looking for is a continuation of this inverse head and shoulders too big for Bitcoin's targets? I mean, really, it's back into the apex of this rising wedge. What's really cool about this setup is the fact that if you go over here to Bitcoin on the daily chart, all while that's happening, this is what the Bitcoin chart is looking like. This is a break through the lower trend line through the fifty day moving average all the way down and a pull back up through the fifty day moving average. Now, we're putting in a daily candle right now and they're still twenty one hours left of this. This is what we need to watch for. Twenty one hours left for this daylight candle to see if we can close a full candle above the 50 day moving average. A fifty day moving average. Right about fifty six thousand nine hundred fifty seven thousand. Let's call it fifty seven thousand. And Bitcoin is testing the resistance here at the same time, so what we need to watch for in the short term is bullish confirmation. And what that looks like is Bitcoin making a move to the seven, eight, six up here right around sixty one thousand dollars. Can Bitcoin see continuation to that area or are we just going to see already immediate resistance at this entire Fibonacci resistance and not even break into this area? Because remember, we're looking for a pullback here. And I think it's 70 percent of the time we see pullbacks, meaning we come to we break the lower trend line, pull back to the trend line. And that that that is not even a confirmed bullishness. The confirmed bullishness is Bitcoin breaking into the apex and truly actually breaking to the upper upper trend line of the apex. So in pullbacks, often we can see Bitcoin fail and come back down. That's something we have to be careful of. What's really cool is the fact that Bitcoin, if it does revisit, depending when it does it, if it revises is lower trend line, it could EMA simultaneously be testing its all time high, potentially even breaking an all time high, depending on when it tests the lower trend line. So just really interesting things happening on this chart for Bitcoin going into the beginning, I guess, this weekend into the beginning of next week. And this is what we have to track. And it starts right here on this crucial Fibonacci resistance. But really good stepping stone for Bitcoin coming from this video the other day. Fifty five thousand one hundred talking about Bitcoin needed to get into this area and look where we are. Bitcoin is in the area now. It's in the eye of the storm. How is Bitcoin going to interact with this area? Let's pivot over to to Cardano, because if you're long on Cardano, you know how how you've just needed to be patient with the consolidation that it's seen. And just if you're somebody out there, it's like, come on, do something. I can't stress this enough. And I know I said all time this right here, the sideways consolidation after all of these gains that **Cardano **has seen over all of this time. It's good, it's just if you can just muscle if you could just come up with the energy to. Remain patient in all of these markets, the volatility of these markets, if you're long term bullish, when you see things like this, there's nothing better to see actually in the middle of a bull market than what you see on the Cardano chart. There's no guarantees. And I operates all of my technical analysis videos with in the back of my mind telling myself, you know what? At the end of the day, even as I'm investing and accumulating over the years, I always tell myself, the extreme Bitcoin Cardano, all things could fail, something bad could happen. They're crashing. I always want to keep that in mind. But from a technical perspective, these are the things that do look like bullish set ups and it is what it is. It's just a bullish looking chart on the weekly. So I wanted to get out of the way. But really, let's let's kind of dig in here to the daily chart and talk about what's going on. One thing to note, Cardano has already broken above the 50 day moving average the other day, around a dollar twenty. That was a big move. And we're seeing exactly what we want to see any thing to do. Once breaking back above, Cardanohas been trading above it, closing Candles above it. But notice huge resistance at this lower trend line for days. If you think it's any coincidence that that's occurring right now. We've been tracking this triangle for so long and here we are at the apex resistance, lower trend line resistance. It is just one hundred percent normal. It's it's so expected and I don't use that word a lot expected, but we got the break to the downside, very similar to Bitcoin. We always look for pullbacks also in ascending triangles. And here's the pullback again, the bullish confirmation not there yet. And then kind of piggybacking on that a little bit. If you go to the six hour chart, Cardano right now swing high to that swing low, very similar to Bitcoin Cardano struggling here at the Resistance, six one eight right around a dollar thirty three or so to the seven eight six around a dollar forty three. So you can just see now Bitcoin and Cardano at the same time testing resistance. Here's the Fibonacci resistance almost identical to Cardano . This is on Bitcoin entering that that resistance. And then Cardano has been in it already and been testing it. What we're looking for, for Cardano , a move and look at the look at the confluent resistance at this line right here. Lower trend line, confluent resistance with the seven, eight, six. It's like a dollar forty three dollars. Forty two for Cardano . I mean I would say right now, I mean because it's going to progress quickly. This is a six hour chart, but today into tomorrow, a dollar forty one to a dollar forty three or so. Huge resistance for Cardano . If you see Cardano get any type of move. What's going to happen here is you're going to stall out, come back down tests, maybe the six one eight down here for some support. This is what I'm watching on Cardano . But we're I mean, I had to do a video tonight because I know it's like every day is is kind of urgent. Right? Something's always happening. Like this was urgent. There's so much oh, there's so many, like, urgent things happening on these screens all the time. But right now, look how close we are to just potentially a very bullish confirmation breaking this resistance area. And it's a very small range. That's the other thing I should note from where Cardano is right now, it's like five percent away, five to six percent away, all the while similar to Bitcoin's inverse head and shoulders that we just discussed, kind of breaking above this neckline. Cardano putting in a very similar type of story here with an upward sloping inverse head and shoulders pretty confluent with the lower trend line. So that neckline trend line area is so big right now for Cardano to break above. That's what I'm watching for her Cardano as it trades just below a dollar thirty six. So that's what I'm watching on the short term charts. This is what I'm going to be watching. Everybody, we're waiting for bullish confirmation. Be careful out there. You know, I don't want to I don't want to say this is like a warning video. But this happens break to the downside pullback, continuation to the downside. This could be a lower high from its all time high and the same exact thing for Bitcoin. Right. Brake to the downside pullback. This is the all time high. This could be a lower high. Be careful for that. Just anticipate all scenarios. All I'm saying. So this is what I'll be tracking. I appreciate each and every one of you dealing with this. Just probably I don't even know. I just I like being in the studio, you know what I'm saying? I like the good, good quality stuff. And but we're enjoying ourselves here. And I appreciate you cruising by watching. And we'll see how this plays out overnight. Hit that subscribe. Hit that. Like, I really appreciate your support as we grow this thing. And we'll see what these two coins do going into the hours and days ahead. Have an awesome night. God bless.
