What's going on moon game, it is time for a weekend crypto update in this video i'll be going over some of the most recent fundamental developments and then also be doing a technical breakdown of bitcoin, ethereum and dogecoin, where i lay out the price levels that will Be in play for the upcoming week, just so you know, for the sake of transparency purposes, i do have a position in all three of these currencies and, if i'm being fully honest, i i truly truly believe that they'll be training much higher years down the road Than where they are right now, if you enjoy these type of crypto based videos, don't forget to drop a like, because it really helps me out the youtube algorithm and if you don't want to miss any of the videos like this or the monday to friday, live Streams - all you have to do is join the moon gang by hitting the subscribe button. Then you can go over to the bell: icon click on that and switch it to always. So you get a notification for anything right as it's happening, alrighty, let's hop into it. So, as i'm filming, this bitcoin was just above fifty thousand.

It fell right below it's at forty thousand forty, nine thousand nine 900. Overall, though, from a technical perspective, this is very bullish. Basically, we shot up to 42 000 bake back in what is this early january? We came down, we had a very, very nice base at 30. 000.

Then it shot up came all the way up to 58 000, which is the current all-time high. 58. 300. Then uh, you can see on the bottom.

Here we have. The rsi stands for relative strength index, basically just maps out bullish momentum versus bearish momentum. It got pretty over extended. That was a lot of bullish momentum.

So since then, that was on february 21st, we're now taking a breather. It eventually found support at 42 700, which i honestly found uh to be a bit surprising. I really really thought that this sell-off was going to come somewhere between 40 and 42 000. That's where i was looking to buy more.

Obviously, when you're trading like this, when you're trying to time the market, you will miss some opportunities, that's just the nature of the game, but since then it's been tracking back upwards, we hit 42.5. It looks like we're trying to break out of 50. So if we can test and then break above 52.5, i'm fully expecting a test of the all-time high right now on a daily basis. Bitcoin is looking pretty pretty strong, but just so you know if we were to overlay this with the overall stock market, the s p 500, the correlation isn't a perfect one to one, but it does seem to be kind of tied um.

Personally, i found it a bit surprising. I thought people at this point with how much uh notoriety that bitcoin's getting that people would see it as a store of wealth. As in if the market started to go down, i thought people would take money out of their stocks and put it into bitcoin as of now. That does not seem to be the case, so i'm just bringing this to your attention.

I know that my assumption was wrong and i'm sure there's some very, very fancy economic explanation for why. But i'm just bringing it to your attention, because if the s p 500 does break below this trend line and continues downward, we will most likely see negative bearish action in bitcoin. That's my entire point. I just want to bring that to your attention.

Pay attention to the overall market because it seems like that they're kind of moving together once again, not a perfect correlation, but they do seem to have some similarities in their charts. But overall technical perspective. There is support basically between forty thousand forty three thousand, but i'm looking for a breakout of fifty 000 followed by 525 and then a test of the all-time high. As of now, it is tough to kind of guess this stuff, but i i would honestly be pretty surprised within the next couple months really by the end of 2021, if bitcoin doesn't at least get above 75 000 for at least one tick uh.

I feel that strong on it. Obviously i could be completely wrong. Nothing in this video is meant to be financial advice, but we're just seeing so many cool things um. We see all these massive companies, starting to be supportive of it.

Obviously, apple put 1.5 billion bitcoin on its books, um uh, sorry that was tesla apple's, supportive of it with apple pay, mastercards behind it and uh microvisions trying to buy a lot like all these big known companies are starting to support bitcoin and all these alternative currencies And i think that is only a good thing. I think they will continue honestly, while i'm filming this there's a good chance that bitcoin gets back above 50 000.. Overall, i'm not day trading it i'm not swing trading it. I look at it as a long-term investment.

I'm slowly but surely buying it and right now, uh in the short term. It looks like we're about to have another breakout all right, so that's it for bitcoin. Once again, i do have a bitcoin position. My other position is aetherium.

Um ethereum kind of can be thought of as bitcoin's little brother. The most recent news from march 7th is crypto coin outperforming bitcoin about to see supply reduced, uh i'll, give you a quick rundown of. What's going on, ethereum blockchain developers have proved one of the biggest changes to the network since its inception of 2015, a shift that could spur even bigger gains in the price of its native cryptocurrency ether. The move will reduce the amount of outstanding ether by destroying some of the tokens every time it's used to fuel transactions on the world's most used blockchain, there's, obviously more information in this.

I can link this article below if you want the exact details, i'm just trying trying to call out the main highlight. According to eric turner, who is a director of research, the reduced supply of ether will likely lead to rising prices as demand for the coin increases. He also said now that they're actually controlling the inflation of ethereum and, in some cases, you're looking at negative inflation. So it's definitely important.

This is important overall from a high level thing, just because the supply of ether was theoretically infinite, leading to criticism that it's underlying monetary policy was weak and inflationary uh. So basically, this pivot, in what's going on um, is to my understanding, a pretty positive economic development for the viability of ethereum, which is pretty exciting. I think ethereum's cool. Once again, i have a position in bitcoin, ethereum and dogecoin.

Just so, everyone knows, but in terms of technicals of what's going on with ethereum, it was in this rising wedge uh. The current all-time high of ethereum happened on february 20th, just above 2000. If you've been watching any of my live streams or crypto updates, i was calling for 2000 for quite a while, but what's more exciting is we have a very, very nice technical shape? Basically, it was in this wedge broke down from a technical perspective. Breaking down from rising wedges is common, that's how it plays out, especially when you have bearish divergence in the rsi.

When i say that all i mean is that ethereum went higher from january 10th. All the way up to february 20th, but the rsi didn't this means that there was less bullish momentum at this new high than at the start of this wedge, commonly assigned that there needs to be a sideways training, a period of consolidation. Just so the rsi can cool off. That's exactly what happened we broke down.

We hit a low of just around 1300, the rsi cooled off and now we're bending back around. I believe that once we get above, that 1700 mark it'll be on its way to testing 1764 1825 and, of course, pass that we have 2 000 very, very similar to bitcoin. In my own personal opinion, in the short term and long term, i'm bullish on both of them. Now, let's switch it up to more of the fun meme stock.

What is going on with dogecoin, obviously very, very different chart and i'll hop into that in just a second, but over this past week, there's a good chance. You already know that uh cool developments, doge adoption on the rise, dallas mavericks mark cuban to accept dogecoin for tickets, merchandise um. If i was checking out mark cuban's twitter, they already did like 25 000 transactions, something like that when i was reading it. So pretty cool uh once again, as more and more of these currencies are being adopted, i think the validity goes through the roof and that will be associated with their value going through the roof.

That's my own! Take on it more! Interestingly, though, with dogecoin, is it hit this all-time high? No doubt because of some of those helpful funny tweets from elon musk um, but it had an all-time high, just below nine cents it sold off. We had this downward trend line it broke out, but since then it's been trading sideways and that's been met with some pretty neutral action in the relative strength index also referred to as rsi it's right out of a value of 50 perfectly in the middle now bullish. Not bearish, but we're starting to. Finally, at least on this daily chart see it bending back around just a little bit once it can get above 5.25 cents.

I think that sets up a run to six cents past that we have six and a half. Then we have 7.4 cents, but for me this upcoming week, i'm specifically watching how dogecoin, how all the investors day, traders swing. Traders react to this resistance when i say resistance, just a price level that it's been rejected by before nothing more special than that. I'm just looking for a break out of that.

Basically, we need enough bullets to man if we get above that, i think it will quickly quickly run to six cents and what's more exciting about dogecoin is the fact that it has very very nice validity or volatility, and it's mainly just based on pretty funny uh Tweets from people like elon musk mark cuban, so basically as really more and more celebrities get behind this um, i think it'll go upward just so. You know my main basis, uh a point of clarification on dogecoin. If i had to bet now on which one out of these three bitcoin ethereum and dotecoin will do the best years down the road, i would put more money on bitcoin and ethereum. Of course, dogecoin can run um in in the short term medium term.

Just with all the support various celebrity developments, but just so you know um the way i'm personally playing this is i'm putting more money into bitcoin and ethereum than i am dogecoin, not to say that it's bad i just like bitcoin and ethereum more and more recently, Especially in the live stream, i'm hearing a lot a lot of positive things about cardano, so i'm thinking about creating a position in that in a comment below. I would love to know your thoughts on these four currencies, or maybe i'm completely missing, one that you think is by far the best. I would love to have a discussion about it. I would love to learn something from you.

Let me know what your favorite crypto is, or maybe you have multiple. Are you doing the same thing as me and investing in multiple ones? Let me know in a comment below and also as a quick side note. If you're new to the world of crypto training, i have a link to block five below um. It's a place where it's basically the way we think of a bank.

It's a bank for crypto here there are three main products: uh you can. This is what i mainly use. I've now been on block five for about three weeks. You can buy bitcoin and some other cryptocurrencies buy trade.

So this is where i've personally been buying, bitcoin and ethereum, and i'm just storing it there. I'm i have that um, what's cool about it is, as it's sitting there you're earning an 8.6 interest. So not only are you benefiting from the rise in cryptocurrency which, in my personal opinion, i do think that crypto as a whole will continue to trend upward but you're getting an extra 8.6 interest on it, absolutely love it. They also have crypto backed loans.

Personally, i haven't used this product yet, but that is an option so um, if you want some free bitcoin check out the link to blackfy, depending on how much you deposit you can get up to 250 free of bitcoin. So obviously, uh awesome awesome deal but to wrap this all up. Uh, really, i think crypto's gon na have an interesting week or two ahead. It looks like it's bending around looking to have another run, so i'm pretty excited i'll, be looking for some intraday opportunities to buy at some port and then just ride it higher and higher.

But i would love to know your thoughts on crypto in a comment below uh, so until the next video or if you want to join in on a live stream, don't forget best of luck in the markets. You.