I want to go directly into the four are at a time from here and show you the fact that Bitcoin got a nice bullish candle here on the for hourly timeframe just now and if you go into the one hour we can see how this pump was actually a big one our candle and basically went up 1.2 1.3 percent in just a matter of one hour of course
we didn't see any significant volume here so this is not a move that's gonna maybe make any bigger effect on the market however there is one interesting thing here and that is the fact that we did get a bounce off of this opportunity supports on here which is what I was talking about a couple of days ago that this is maybe the likely scenario that would bounce here and start coming up here again and what I also said in that blog is that this could lead to us getting this in verse head and shoulders here now
it doesn't look like the most beautiful Head & Shoulders I've ever seen but it is a potentially saw that we are getting in English head shoulders and then we should look at this neckline here because we tested this neckline right there we tested this next time right there and Bitcoin could be going in for in the test of this neckline you could argue that this line is something like this and if you're just a little bit then you could make the case that we can just tested it but I prefer to connect these lines a little bit more consistently something like this
but yeah let's keep an eye on that but regardless if we do see a big move above 9.2 9.3 above these two points here then in that case we might see a confirmation of this inverse headed shoulders and let me just show you the target from this point up to this point and if we put this at the point of a potential breakout this could could pick on at a price of nine thousand seven hundred and forty dollars in the next few days and weeks personally I am not so confident in that I think that we do have to realize that even if this could be an english-irish shoulders we need to keep in mind that this is descending resistance
we have which is actually quite heavy we had a bounce there right there and right there so three rejections which means that if we come up to this level we should expect this resistance to give us some problems so if anything I think we are probably going in for a retest of this level if we break the $9,250 level which means that from the neckline we might see a price increase of another 1.2 1.3 percent but then logically of course if beacon breaks this white descending resistance then the next step would logically be this target of this inverse headed shoulders and as I've shown you before there is also a lot of confluence all the way appear at 9900 because of this massive resistance this is the biggest resistance
we have to deal with after this descending resistance so if we break out here then of course we should be looking towards this nine point nine K level ultimately and that is their resistance out of this ascending triangle so as you can see here we are in this ascending triangle Bitcoin seems to be trying to attempt a bounce here if we break out of this falling wedge this white falling wedge to the upside then this basically confirms the bounds and I think we go up to nine point nine came and at that point we're gonna have to see if we're coming down once again for a retest or if bitumen is gonna break up here of course that would be the bullish scenario and if you break down here that would be a neutral scenario
if you break the support also that would be the confirmation of the bearish scenario and whenever we come very very close to the end of such a pattern volatility goes down volume goes down soon but it's not doing anything currently so people say that he was wrong this talk to flow ratio was wrong we can see here the volume is going down and people are getting more and more negative towards bullish talk about bacon and people started to call for bearish price targets and this is something that I just tweeted here some people think that bitcoin will never come back to 2017 all time these people probably don't understand that the monetary system is under huge stress and will inevitably collapse they also don't understand that bitcoin is the best alternative
when this happens and this is very important for the long term bitcoin will with a very high degree of certainty go up but of course in the short term we might see these boring periods and we might see these low volatile moments and also even go Bitcoin can go down in the short term while still being bullish for the long term this is something that some people might fail to understand him sometimes and remember guys that the majority is always wrong so if everyone now expects Bitcoin to just die and just go down and never reach all-time high again then that's probably the very moment where bitcoin is going to take everyone by surprise and start it's big bull run
I think that people have been calling for high prices for a very long time now that people are finally stopped into doing it generally this could be the moment where it's actually going to come true this is a tweet from plan B remember his tweet he asked what is the like list price targets for Bitcoin at the end of 2021 and look at this 43% says that Bitcoin will stay below $55,000 and I think that most of these people would probably have clicked stays below $20,000
if that was the option this was the lowest one they could have chosen you can see then 17% 55k 23% for a 100k and only 17% for 288 thousand dollars and from 26 thousand votes these are the results and he says that 43% doesn't believe in the stock acceleration model and the expected Bitcoin value is 18,000 dollars based on these results here and I also interpret this as such people don't really believe in the stocks acceleration model right now
people are losing faith in this MA while just one or two years ago everyone thought that this was gonna play out and again the majority is always wrong so if everyone thought back then that VidCon is going to the moon immediately then it's not going to go to the moon immediately but now that people are finally starting to cool down and the stock to flow ratio model is not getting a lot of attention at all this is truly the time to pay attention I think that the next Bitcoin pump and the next Bitcoin Bull Run will take everyone by surprise I think that it could happen in the next few weeks but for sure within the next few months I think that we are coming to the end of the line now where they stock to throw ratio model will take Bitcoin up towards these surprise targets if you look at the previous cycles these moments in time actually make a lot of sense for Bitcoin to start the bull run
