WARNING: BITCOIN FLASH DUMP – IS IT OVER OR ABOUT TO GET MUCH WORSE

Summary

The speaker discusses Bitcoin's current market position, noting that it has reached a critical juncture after a significant rally up to $73,000. Despite falling back to $60,000 twice, the presenter suggests that this may not signal a crash but could instead precede a larger move. They highlight a proprietary indicator that has historically predicted market tops, which Bitcoin has recently entered, a situation that has only occurred a handful of times and often coincided with market peaks. The stochastic RSI on the monthly chart shows a cross down, which has previously indicated substantial downturns. The speaker emphasizes the importance of understanding market structures and patterns, suggesting that Bitcoin's behavior is consistent and predictable. They also mention a significant correction anticipated by their analysis a month prior to the video, which has since come to pass. The speaker concludes by advising viewers on investment strategies during market corrections and teasing an upcoming trade alert for an altcoin, promising potential explosive growth.

Takeaways

• 📈 Bitcoin has experienced a significant rally, reaching a high of 73,000 before encountering problems and falling back to 60,000 twice, leading to speculation about the market's next move.
• 🎯 The speaker's favorite indicator suggests that Bitcoin has entered a top channel, which historically has been a precursor to market tops in 2011, 2013, and 2017, with one outlier.
• 📉 The stochastic RSI on the monthly chart has shown a cross down, which has previously indicated a significant price drop in the following month.
• 🔍 The speaker emphasizes the importance of looking at facts and charts rather than following the hype or the opinions of others, such as 'Grandma Betty'.
• ⚠️ Bitcoin's pattern has shown that after reaching a high and entering the top channel, there is typically a significant correction of at least 30-40%.
• 🤔 The speaker questions whether Bitcoin has completed its cooling off period after the recent correction or if there is a larger move brewing.
• ⏳ The speaker references past market cycles, noting that Bitcoin has always entered the top area twice during each cycle, with the first entry not being the market top.
• 📊 The speaker's custom indicator, a combination of three powerful indicators, is used to predict Bitcoin's biggest moves and is currently showing signs of a potential downturn.
• 💡 The strategy suggested for investors is to identify additional funds for investment and to invest 20% of those funds when Bitcoin corrects by 15-20%.
• 📱 An announcement is teased for April 24th, promising the largest ever discount on the speaker's indicator bundle, which provides buy and sell alerts.
• 🌟 The speaker invites viewers to help reach the goal of half a million subscribers by sharing the YouTube channel with others.

Q & A

What is the current situation of Bitcoin according to the transcript?

Bitcoin is at a crossroads after reaching a high of 73,000. It has since fallen back to 60,000 twice, leading to speculation about whether the correction is over or if a larger move is brewing.

What does the speaker consider their favorite indicator for predicting Bitcoin's moves?

The speaker's favorite indicator is a custom hybrid indicator that combines three powerful indicators to predict Bitcoin's biggest moves.

How many times has Bitcoin's favorite indicator reached a high of 93 or more, according to the speaker?

The indicator has reached a high of 93 or more only four times, with three of those instances marking market tops.

What does the stochastic RSI cross down on the monthly chart indicate?

A stochastic RSI cross down on the monthly chart indicates a potential for a big red candle in the following month, which has historically been a sign of a downturn in Bitcoin's price.

What is the significance of Bitcoin entering the top channel in the speaker's analysis?

Entering the top channel is a rare occurrence and has historically indicated that Bitcoin is overbought, which could suggest a market correction is imminent.

What does the speaker suggest as a strategy when Bitcoin corrects by 15 to 20%?

The speaker suggests investing 20% of the 'free money' or additional funds you had set aside for investment when Bitcoin corrects by 15 to 20%.

What does the speaker claim about the market structure at the $60,000 level?

The speaker claims that the $60,000 level has been a key support level, with heavy buying activity observed during the two retests of this level.

What is the speaker's outlook for Bitcoin's price action in the month of April?

The speaker anticipates a big red candle for the month of April, suggesting a potential downturn. However, they also note that the month has not closed yet, and the current situation might still change.

What is the significance of the 'hanging man' pattern in the weekly chart?

The 'hanging man' pattern is a bearish signal that, when confirmed, suggests a potential trend reversal to the downside in Bitcoin's price.

What does the speaker suggest is a good entry point for buying Bitcoin?

The speaker suggests that a market correction of 15 to 20% presents a good buying opportunity for Bitcoin.

What is the speaker's tool for providing buy and sell alerts?

The speaker has created an indicator bundle that provides buy and sell alerts, which has helped many people make profitable trades.

What is the upcoming announcement regarding the indicator bundle?

The speaker will be offering the largest ever discount on their indicator bundle on April 24th, making it more accessible to subscribers.