BEN TOKEN CONTINUATION! HOW HIGH CAN IT GO? BITBOY CRYPTO, ELLIOTT WAVE PRICE PREDICTION UPDATE MAY
Hey everyone welcome back to cryptocash thank you so much for joining me here hope you’re having an amazing day happy what is today uh Thursday happy Thursday to you and your family we’re taking a look here at Ben seeing what’s going on with old Ben dog here we’re going to
Take a quick peek at uh you know some Elliott wave theory and a handful of other factors so be sure to stick around through to the end don’t be the dude that fast forwards to the end to try to get the answer because it’s really not how it works you kind of gotta
Understand what’s going on in the big picture and work your way down so just don’t do yourself a disservice and just take a shortcut no one likes somebody that takes shortcuts right okay that being said if you want to learn a lot more and become a better Trader
Cryptocash.tag is a site link down below we’ve also got an awesome partnership here with BX to kind of replace by a bit for like better terms because there’s no kyc or VPN required in Canada Europe Oceana us UK and they give you 100 trading bonus uh with no volume or
Deposit required really cool thing I’ll keep in mind it’s only for the first 100 users and majority of my members have already used that but there’s still a few slots left available be sure to check that out okay so with Ben yesterday when we talked about this the price section was still fluctuating
Going up and down what we’re looking though at is a potential retracement level so what it’s done so far is retrace to the 0.618 Fibonacci retracement which is roughly about twenty one thousand and that is an area in which we want to pay attention to
Okay so just keep in mind that is a potential option there um The Daily doesn’t tell us too much here though just based on the fact that we don’t have enough trading data to really look at where we’re at right now okay so we’re going to rely on a smaller time
Frames for that when we take a look at the four hour time frame we are kind of testing this ascending type of trend if we take a look at the moving averages there’s not a lot here and once again just the two but we can see the 200-day
Correction the 20-day set moving average is working its way up as a potential trend line and effectively going to potentially hold the price action in place we want to pay attention to that because the 20-day either on the four hour or the one hour are good Trend centers and they really help us
Understand where you know which direction the price is going as soon as you break below that level you want to be kind of I wouldn’t say you don’t just go crazy and sell you you do you pay attention of course and see what’s going on you want to pay closer attention
Because that’s a key level support in most cases when you’re on the right side of that and it helps to understand where you’re at speaking of support we are still above 50 on the RSI but just below 70 we’ve finally tapered off there which is good you don’t want to be
Overextended for too long take a look at TD sequential here we can see we’ve we’re in extreme overtime we’re looking to finally got that reset there and then we got this macd Divergence on the horizon so talk about this yesterday we’re starting to lose that a little bit
Of momentum we’re hitting that that top that shelf and now it’s getting closer so just pay attention to this if then when this crosses over and concurrently we’re testing that 20-day set low average there’s a decent chance we’ll either see a bounce or a drop um again the bounce can happen at this
Point five Fibonacci level you’ll see this happen quite often 0.5 is a very common characteristic as far as an area in which the price will like to continue away from okay so it’s like this magneticism that pulls it to it and then it also has this bouncing thing where it
Likes to bounce off so it would make sense for the price to kind of bounce off that level keep in mind there’s a different a different whole another scenario that we want to take a look at on the hourly here with our Elliott wave so this is what I want to talk about
This kind of tells us that the potential the bottom could potentially be n as far as this next leg up keep in mind the next leg up and if we go ahead and remove these fibs and drop some new ones you can kind of see here that the price
Section if it were to come up it could very well bounce and reject off of these levels here okay so keep in mind the price comes up from here if it were to it this is just say the new bottom this is the new a from our Elio wave we can
See obviously that the price action at twenty three thousand twenty four thousand six and twenty five eight would be three potential retracement levels in other words we’ve had our one two three four five pattern we haven’t fulfilled our ABC yet okay so hypothetically this is telling us that the top could be in
And if that is the top once again this has to be the bottom and then we’ll see the next up higher high be basically a lower high okay so this is lower high and lower lows until we hit a c this is not 100 guarantee keep that in mind it’s
Just a theory for a reason it’s called Elliott wave theory for a reason okay so just kind of give you a potential play out there in that regard that being said when we take a look at just say some other standard factors we can take a look at TD sequential we are not
Overextended to the downside we’ve got maybe three hours left of continuation down before the price bounces back it’s common for the price to go roughly nine nine hours or nine candlesticks in either direction before it reverses itself so we’re roughly two-thirds of the way down there we take a look at
Each mobile Cloud this is where things get kind of interesting we did a nice little dip there we bounced off the cloud so as long as we can hold this ascending Trend and you can see that ascending Trend meeting with the cloud here as long as we can hold that we’re
Going to be in pretty good shape to see the price action continue upwards however if the price goes sideways like this then obviously not good if it goes sideways like this even still it’s not great either because the cloud will need to average itself out and this is a
Really big indicator just kind of letting you know the momentum and which side the tracks you’re on the key here is that the lag expands and recycle the price action already so it tells us that if you have a long position you would have you should have trimmed it by now
It also tells us here with a conversion line below the Baseline we’re losing that momentum to the downside there’s potential for Divergence once again we saw this potential on the four hour with the macd okay so keep in mind this is something we want to pay attention to
This is the biggest one for me that I’m looking forward to understanding and if if we can stay above the cloud this won’t even happen we won’t get a Divergence whatsoever we’ll get uh potential even convergence or bounce off this level which happens right here it’s referred to as macdfu I’m pointing that
Phrase because that’s happened with Bitcoin three times in a row where every time you think you’re gonna get a convergence Fu goes right back down the other direction right so keep in mind this can just because it’s coming down like this doesn’t mean it’s just going to go right down it can potentially
Bounce and continue the other way all right anyways if you’re not familiar with that I talk about this in my Trading Academy cryptocash.tag is where you can register for that if you’re considering that got a lot of cool new members coming over so great to be able
To work with you there and you know keep keeping advantage of this this free bonus here it’s really awesome to be able to have that but we really do look forward to working with you honestly but there’s not much else I can think of that we need to really extract here
Right we’ve kind of determined that we’re in the system Trend until we break this this ascending Trend we can expect it to continue we’ve got to pay attention to the cloud though in the next 24 hours and of course that macd diverges likely the next 48. those are
Things I’m going to pay attention to we’ll reevaluate once again this time tomorrow I’ll see where we’re at here but I’m still leading more towards the price continuing up from here getting a little bounce but there’s a good chance this could be the lower high right and
It could be establishing a lower low as well as we speak we will see here soon I hope that worked out well for you that made sense and I described things correctly thanks again for watching really appreciate your support like subscribe follow and we’ll see you in
Tomorrow’s video have a good rest of your day take care
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