What's going on moon gang it's time for a quick update into my favorite long-term investments, apple stock and bitcoin, what's exciting is i think that the two could really help each other out on the screen now is apple's daily chart and before we hop into a technical Analysis of that and bitcoin, let me better explain what i'm talking about. Apple can search another 25 by adding cryptocurrency services to its wallet. App apple shares can jump higher if the tech giant steps into the cryptocurrency market according to rbc. In a note to clients, the analyst mitch steves lifted rbc's price target for the iphone maker from 154, all the way up to 171 implying a 25 increase.

The target is the highest among wall. Street analysts steve's also maintains an outperform rating on the shares. Just so you know, dan ives from wedbush actually has a bull case scenario on apple of 200.. Rbc sees more near-term opportunity in the company's wallet.

App apple has expanded the app over the years, making its four-way into financial services with the apple card in 2019, while it already contributes to apple's increasingly robust services business, but an expansion into the crypto sector could make it an even bigger boon. Opening the wallet app to the purchase and sale of cryptocurrency could cement apple as a leader in the industry and bolster its services revenue. This is pretty similar to tesla's recent announcement of putting 1.5 billion dollars worth of bitcoin onto their books and also accepting bitcoin payment for the vehicles. I think we're seeing a lot more energy and a social slash political push behind cryptocurrency, specifically bitcoin, so if it were to be announced that apple is now also a backer of the cryptocurrency.

I think that both the stock and the currency itself could really really rip. Now that we have the news out of the way, let's take a look at the chart, apple closed out the market today, at 1 35, thus far in 2021, it is up 2 and here's the technical situation that the stock is in recently uh in late early September late august of 2020, i hit this current, the recent all-time high of 138. This came right after the company's four for one stock split from there. It came down and eventually found support at 103.

from there it slowly grinded higher fine, pretty much following this bottom trend line. At one point there was a lot of excitement and it did hit a new all-time high, but at that point we can see that there was diversions in the rsi. What i mean by that is, if we take a look at the indicator here uh, you can see that the rsi, which stands for relative strength index it didn't go as high as it did with this bike, which was weird because the price level actually went higher. This is known as bearish divergence and it's a common technical indicator.

That means a period of consolidation or brief selloff is coming and that's exactly what happened in apple. Fortunately, support was found at 127 and from there leading up to its most recent earnings announcement, we have which happened on january 27th. The stock actually went all the way up to 145.. Once again, we did see bearish divergence in the rsi and the stock has since been selling off.

It looks like support was found in the low 130s and right now. It's battling it out at 138 and also once again, this bottom trend line trying to get back up into this wedge. This is what we're dealing with over the next few training days, potentially a couple weeks, but overall in 2021, i personally feel very confident of apple, not only getting above 150, but most likely pushing that 200 level. You have to understand that apple is not only a premier technology company, but it's been doing incredibly well lately.

The iphone 12 is setting all sorts of records in demand. I think it's just a matter of time before this is reflected in the stock price and i'm very, very bullish on it. I think eventually we will have a bullish breakout of 138, this trendline and sooner rather than later, i'm expecting it to be testing this price level of 145.. I'm invested in apple in my public account at 131 and in my private account, i'm in at 117 and i'm more than happy to hold my shares of apple, not only for 2021, but really for multiple years.

I feel that confident in apple now, let's move our attention over to bitcoin bitcoin has been on a crazy run lately. Obviously, it spiked after elon announced that it would be put onto tesla's books, 1.5 billion dollars worth, but from a technical perspective, and just so you know these levels, these yellow lines are levels of support and resistance, and when i say that i'm just talking about uh Price levels that either apple or bitcoin has bounced off of and resistance is the areas that it's been rejected by once again, we have rsi on the bottom here so really from late 2020. Up until the start of 2021, bitcoin was on a pretty systematic run upward. It ended up getting rejected at 42 000.

It came down, found support at 30 000 and since then, this cryptocurrency has once again been on a tear most recently following the tesla elon announcement, it was rejected at 48 000, and this is that same bearish divergence. We saw in the rsi with apple um, the clearly the crypto has gone higher, but the rsi hasn't once again. This is bearish divergence and it's commonly a sign of consolidation, a small decline. So what i'm expecting is for bitcoin to come down a bit or maybe just trade sideways, and once the rsi has a chance to cool off, i'm expecting it to not only test 48 000, but i think most people are uh targeting that key psychological level of 50.

000.. So to sum this all up, i am very bullish on apple and bitcoin and i think it'll be massively beneficial for both of them. If apple starts accepting it as payment, the way that tesla did once again very very bullish, as these charts continue to develop i'll, make sure to keep you updated with all the new technical levels, levels of support resistance. What i'm seeing in the other indicators, but the bottom line here, is that i think both of them have a bright future, not only in the long term, but also in the short term.

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