In the video titled “Bitcoin REJECTS the Kiss of Death and RECONFIRMS This Signal” by Alessio Rastani, the recent developments in Bitcoin’s price and its implications are discussed. The video was published on June 24, 2023, and has garnered over 30,000 views.
Rastani begins by discussing Bitcoin’s recent breakout above the April highs, which he believes has several implications. He criticizes some analysts who predicted a drop below 15K when Bitcoin was falling, arguing that markets are driven by fear and greed, not rationality or the Federal Reserve.
He then discusses the concept of ‘episteme’ or system of thinking, suggesting that the current mindset towards Bitcoin is still largely pessimistic, which he views as a bullish sign. He argues that such pessimism is not typically seen at the top of a market, suggesting that Bitcoin has not yet reached its peak.
Rastani also discusses the concept of ‘corrective patterns’ in chart analysis, suggesting that the recent drops in Bitcoin’s price were likely a correction rather than a reversal in the trend. He believes that as long as Bitcoin stays above the June lows, the bottom is likely in and we could see higher levels on Bitcoin.
In conclusion, Rastani remains bullish on Bitcoin, stating that the recent rally is a reconfirmation of the bull market. He warns, however, that if Bitcoin were to fall below the June lows, he would change his mind and become very bearish. He also emphasizes that his analysis could be wrong and encourages viewers to be aware of the risks involved in trading.