Mind-Blowing BITCOIN CRUNCH! Unstoppable BTC Surge Has Begun!

In this video, I discuss the current state of Bitcoin and the broader cryptocurrency market, noting a slight dip on the daily chart and emphasizing the importance of red candles and consolidation even in a bullish market. I delve into historical data to compare the current market movements with past cycles, questioning whether Bitcoin's current behavior aligns with previous trends. I highlight the significant role of the Bitcoin ETF in the market, pointing out the demand among advisors at banks and broker-dealers for access to it, which suggests a looming supply shock due to approximately 70% of Bitcoin's supply being dormant for at least a year. I further explain the relevance of the Bitcoin halving, occurring weeks away, and its historical impact on market cycles, indicating we are entering a phase of supply shock earlier in the cycle than usual. I also discuss technical aspects, focusing on the importance of Bitcoin closing weekly candles above key Fibonacci levels to maintain its bullish momentum. Additionally, I touch on the overbought status of Bitcoin on the RSI but argue that this is not necessarily a concern in a bull market, referencing past cycles where Bitcoin remained overbought for extended periods. I conclude by stating the significance of the current market movements in anticipation of a bullish phase, urging viewers to subscribe and share their thoughts on these developments.