BITCOIN PRICE PREDICTION April 2021 BTC |SHOULD I BUY BTC ?

 

BITCOIN is showing a massive drop these days| why?

hi everyone hopes you well this is Ghost Rider I'm going to do this bitcoin update I don't usually do a bitcoin update but I'm going to do one for you because everything follows bitcoin whatever bitcoin does obviously directs the market up it drinks the market down. Doing as predicted - too early to say yet but it seems that BTC wants to move to the levels I mentioned on the call. ($57800-58400 potentially 60K). If we break 60k and move higher that’d be a sign that we’re safe and will eventually hit my targets of 65-67-72k. If not that’d be a sign that we are still in danger. If BTC is in a corrective phase, it will most likely have to dropdown to complete the 5th wave- that would take us back down to 50-51K if we start dropping from around 58-60K areas, However, there’s no need to worry for the alts - Yes they’ll take a hit and drop down along with the rest of the market but since BTC dominance is dropping lower to the 50-48-40 areas (predicted in Jan and Feb 2021) that would be a sign that the alts will go nuts. So far we are fine. 

Not so optimistic but not fearing BTC’s movement either. 50K remains the important level. Forget the nonsense that 56K is a must or whatever the F.. it’s a good sign if we stay above 56K but not too dangerous if we do fall below it and still remain above 50K. Fingers crossed - we shall see what happens. Told  to be careful between 22nd and 24th of April. if it's collapsing things are collapsing if it's going up things are going up so you know always target bitcoin but right now on the daily timeframe, you can see we've formed a very very uh bearish pattern indeed um and it's basically a type of rising wedge type pattern okay and we can't ignore this fact so we've gone up there we've been adhering to some kind of level of support and as we've gone up we've been hitting some kind of resistance right there do you see this so basically it's a rising wedge so to speak and it is actually a reversal pattern that can't shy away from the fact that you go up into it and as it gets tighter and tighter you do fall out of it and potentially when you do fall out of these uh rising wedges you do come back to where you formed it and that was the particular base right there so if we modem for you right now you can see that's potentially where bitcoin could actually come and fall back to so we can't ignore that fact okay rising wedges do tend to play out to where they fall back to just like falling wedges do you do tend to break out of them and come back up to where you actually form them as well so right now that is our target for bitcoin uh until we can get some kind of uh signal or anything to say otherwise then that is particularly what we are looking at for bitcoin right now uh fortunately is a bit of a bearish scenario but I want to reassure you if it does come down and this is the other thing it might not necessarily come down okay 

but the fact is we've got a bearish cross on the macd down here okay do you see this on a daily time frame okay contributing to the downturn you've also got uh the histogram on the macd there going red and you can see once it goes red like that and you do form these various crosses you can see just that it goes red uh you get the macd bearish cross and you get a multiple sell-off okay which contributes to the downturn just like there you peaked and you rolled down and you rolled over and it just contributed to the downturn until you found a key level of support with a key level of support is where you form the wedge uh what else we've got going on as well is is a bearish divergence on the rsi okay on the daily the time frame here you can see uh with this particular trend right here you've been forming high lows sorry you've been forming higher highs on in the price action okay but on the rsi you've been forming lower highs do you see this so that's effectively one big divergence and it means it's called an rsi divergence and it means that the price action usually goes to the opposite way in which it's going okay so the price section going up making high highs rsi going down making lower highs is always indicative of a rollover and you can see each the time that it was printed that you rolled over well that was the initial start of it you rolled over there which you rolled over so the divergence played out and then obviously as you peaked up unless you could make a higher high than this okay if it would have made a high that would be would have been an invalidated uh divergence but that in effect it's actually played over you rolled over and you're now coming into the floor you're coming down into the oversold uh territory for bitcoin 

you know what it's it's perfectly perfectly healthy and you know it needs this sometimes because if it doesn't get this okay that means that you get over overbought overblown the market gets too overextended and there's no continuation and you're looking at the end of the ball run so these corrections are perfectly normal as you know talk about in multiple videos here on Ghost Rider it's perfectly healthy okay so one thing I want to show you right now is this particular target right here this target that we've got going on here the potential drawback for bitcoin and again nothing I say is financial advice and just because I'm painting this the picture does not necessarily mean it's actually going to come down to here okay it's just a pattern that usually plays out and a potential target obviously you can get a recovery and just keep marching on and invalidate all this pattern that we've got going on so what you what you're doing right now you can see you fell through the ema's on a daily okay you fell through the 20 there which is a really critical level of support you fell down there and you've actually touched this red line which is the 55 which you've not touched for a very long time the last time you actually come down and touched that was our 22nd of January you got that recovery come up to hit your head on the 20 ma  there on the daily come back and backtested that support but once you've got that support that double touch you was off and away and you could see in that entire time there whilst you made that recovery you was, in fact, making these higher lows as well do you see that so a low and then a high low so it's a good good indication of recovery and who knows you could still get that here you could kind of get this recovery for um bitcoin right now but the thing is just here you had a double m top pattern okay and that actually played out so this is what I mean about patterns are in play until invalidated away and I'll always be honest with you in the channel just here you've got this pattern here. 

where you went up you made a high you make it a second high so you've got a double top right and the target from that double top was obviously from the peak there down and it was like a 16 correction because what happens when you lose the support line of not stable top you're correct and you have a target and you can see that from there it actually corrected down and our target was met basically, so that pattern played out okay that corrective pattern played out and when patterns come into play they do usually play out unless invalidated away and that's the same we have in this channel so at the moment rising wedge fell out of it usually fall back to where you formed it and this is the basically, where you form it you come up into it you touch the top, and your base support of the rising wedge is just where do you see that so that's why we have this breakdown target for bitcoin that's the bearish scenario so we'll always give you the truth in the channel okay so what I want to do to reassure you is that if in doubt always zoom out we're going to look at the weekly timeframe right now okay and on the weekly time frame for bitcoin you can see look at where that yellow line is that is a particular target that we do need to hook hit and bounce off for continuation and uptrend and especially in a bull market and especially for bitcoin we have not touched that yellow line since and I'll just get rid of this now just take this down here we have not touched that yellow line since this kind of bull market began uh just there did you see that so we had the corona dump last year right we went down and we got back up above the ema's there backtested backtested the last time we touched the yellow line okay was way back in October and since then bitcoin is just absolutely bolted and it's not come back to the yellow line so do anticipate a retouch of that yellow line which is the 20ma on the weekly timeframe because if it does come down to there I would expect a massive massive bounce there if it does come down today okay because I'm just going to show you something in the previous ball run okay of 2000 uh to 18 there I'm just going to show you this particular level of support so this was the previous ball run okay so you've got the bullish cross on the weekly time frame there and that was a really big signal to buy and go to the beach for bitcoin and you can see in its entirety and that ball run in the previous bull run of to from October uh 2015 to the early stages of 2018, there was a blow-off top and rolled over and then to the bear market you can see that it had multiple touches of this yellow line okay you see this the yellow line the 20 ema on the weekly time frame now move to the right you can see that since we got the bullish cross just there okay after that corona dump the big buying go to the beach signal right there for bitcoin you can see it's had one one-two touches okay and it's not come back down to touch it to act to support and that's what we want to see it in the bull market.

You want to see it going up coming back down going up coming back down and each time it holds support each time it touches the yellow line do you see this is the 20 ema on the weekly time frame so what we're anticipating here is if bitcoin was to correct any further because you can see look just look at that structure there it's gone up it's starting to roll do you see it it's not to roll do you see that so it's rolling over and it's almost asking for a touch of that before refueling these rocket ships getting these weekly rsi settings really low again so resetting itself okay for the next leg up and the next leg up could start to see broach that 100k 150 200k in this bull market because that's what I want to reassure you of you are in a bull market, okay and potentially the start of a supercycle as well because you can see here it doesn't take a rocket scientist to look at this and see bitcoins got really overextended okay it's gone so many days if we can measure this right now so the previous time they had that touch of the um that corrective way down there and touched the 20ma on the weekly, uh it's gone almost 224 days without touching that okay and you can see the longest it ever went without touching this okay wherever when it went open sort of got overextended without touching the emas was potentially this sort of distance here and that was from that touch there to there was 154 days so it doesn't take a rocket scientist to look at bitcoin right now and say you're a little bit overextended a little bit exuberant you need to come down touch base okay just just so we can get that continuation because like what I say to everyone in the channel, you know when you see it start seeing these overextended uh price action from emas these are critical levels of support and if the hold they're just a big green tick to a continuation okay so if we can get this retest now when we come down reset all these levels and march on you're looking at a super parabolic growth for bitcoin right there failing that you know if it like here you overextended start to roll over when you come back and if you don't hold them as support it's a really big signal you know that you're losing the the 20ma especially on a weekly timeframe now if you start losing that you're looking at a rather large correction and obviously entering a multi-year bear market but I don't anticipate that for bitcoin I think that this particular bull run is going to go on but I am hoping I am from a technical standpoint I do think that a retest of this yellow line the 20ma on the weekly is much called for in this entire move that we've got going on for bitcoin because you can see the bitcoin since it's gone on from this uh golden cross okay the the bullish cost a big buy and go to the beach signal for bitcoin on the weekly time frame it's gone uh 350 days okay of pure appreciation of 683 without touching the ema on the weekly time frame you know and you can just look at this particular ball on how long this lasted for when we got the golden cross this one went on for around 735 days 

so we've got a long way to go okay we've got a very long way to go from that golden cross you can see we're almost halfway there just under halfway there so having a little retest and a pullback of confirmation and support is golden to the fact that we're going to march on so that's basically bitcoin okay do keep an eye on that breakdown target that we've got because if you do start seeing this come down obviously it's going to drag the entire market down with it and alts and everything like that and i just want to reassure you that's why I'm making this video on bitcoin that you know if it was to come down I'm not saying it will but if it was to come down I want you to reassure you that it's perfectly perfectly healthy for bitcoin to do so and that is basically it so that's the weekly we're going to have a quick look at the four hourly timeframes right now there is a really high level of support for bitcoin but obviously, if it does come down any further and starts to cascade that's your target okay that's your target and just again a level of reassurance that that is perfectly healthy if it was to come down there because you would actually be coming down to the 20 ema on the weekly time frame so that's bitcoin and I hope you enjoyed that uh update until we can sort of getting this recovery now march on and sort of start to tackle these new highs potentially you got the sort of bias push down therefore bitcoin to at least come down and test that base so that's, it's good it's still honestly I want to reassure you because you see i have so many messages on telegram um you know is this the end of the bull market and stuff like that and all you do is just look at the previous bull markets to sort of getting a gist of what could potentially happen and the healthy sort of things and corrections that bitcoin needs to go through sometimes to sort of readjust itself. 

so it can actually march on but this time a lot of people say it's different you know institutional backing institutional money and stuff like that perhaps it is perhaps bitcoin is so strong that it's not actually going to come down there and test that level, okay and it's just so super strong that it validates these patterns that have already played out the double m top the rising wedge which is falling out of and as you support base where it's potentially falling back to you know invalidates patterns so to speak so so far so good onwards and upwards but if we do start to break down then obviously that's your target and you know when you look at it like that from here it's not even that much of a correction you know it's only 18 which is nothing really is it you know it's done it goes up 20 no problem it can come down 20 no problem do take care, everybody, this is not a bearish video this is just an update of reassurance that we are still on an uptrend we are selling a bull market if we do start to lose the ema's especially on the weekly on all your projects on the daily on the weekly if you do start to lose those projects uh through the amazing day then you are looking at that rather large correction uh for your project and that's its level of transparency across the board from Ghost Rider do take care have a really good day and I'll catch you soon in another update please do smash the like button as well and follow the channel would be amazing for me bye-bye