Bitcoin [BTC]: MAJOR Crypto Reset Is Happening Now.

Summary

This video analyzes the current state of the cryptocurrency market, focusing on Bitcoin's performance amidst a major market reset. The presenter discusses the macro cycle, suggesting an upward trend despite a 27% drop in Bitcoin's value. They delve into technical analysis, examining charts for short to intermediate-term predictions, and highlight the importance of the 50% level as a potential turning point. The video also touches on the US dollar's influence on asset pricing and provides an updated Elliot wave count, indicating a possible final leg up in the bull market. The presenter emphasizes the importance of doing one's own research and not relying solely on financial advice.

Takeaways

• 📉 The current crypto cycle is experiencing a significant reset with Bitcoin down over 27%, which the speaker believes to be the first major reset of this cycle.
• 🔍 The speaker is looking for signs of the end of the correction and the start of the final upward leg in the market, analyzing both short to intermediate-term trends and the macro cycle.
• ⚠️ A disclaimer is provided that the speaker is not a financial advisor and emphasizes the importance of doing one's own research and due diligence.
• 🔗 The video encourages viewers to subscribe to a free community link for weekly reports covering Bitcoin, real estate, and the overall economic cycle.
• 🤝 The speaker mentions a free trading community called the Ultimate Trader Accelerator, offering a complete trading strategy and education, partnered with certain exchanges.
• 💰 The market's liquidation data and long-short ratio are discussed, noting a stabilization around $56,000 as a potentially positive sign for short-term accumulation.
• 📊 The fear and greed index is mentioned, currently sitting in 'fear', which the speaker interprets as a potential positive if trends start to turn up while fear persists.
• 📉 The US dollar's support level at 105 is highlighted, with the speaker tracking its potential breakdown as a positive sign for assets priced in dollars.
• 📈 The speaker provides an analysis of Bitcoin's hourly and daily charts, noting key support and resistance levels, and the importance of trend confluence for market direction.
• 🌊 The Elliot wave theory is discussed, with the speaker suggesting that the market may be in the midst of the second major correction within a larger bull market cycle.
• 🔄 The speaker emphasizes the importance of watching for trend confirmations and pivot points to determine if the market is at a macro bottom and ready for an upward move.

Q & A

What is the current state of Bitcoin according to the video?

Bitcoin is down over 27% in what the speaker believes to be the first major reset of the cycle. The speaker is looking for the end of the correction and the start of the final leg up in the market.

What is the speaker's view on the macro cycle for Bitcoin?

The speaker believes that the macro cycle for Bitcoin is still pointing up, despite the current downturn, and they are analyzing the short to intermediate term and the macro cycle.

What is the importance of the 50% level in the speaker's analysis?

The 50% level is significant because it represents the halfway point of the entire yearly range and the bull market range from 2024. The speaker notes that Bitcoin is currently holding above this level, which is a positive sign for potential accumulation.

What does the speaker suggest about the market's fear and greed index?

The speaker mentions that the fear and greed index is sitting in fear, which is not surprising given the market conditions. However, they suggest that if trends start to turn up while there is still general fear, it could be a good sign for the market.

What is the speaker's view on the US dollar and its impact on assets priced in dollars?

The speaker is tracking the US dollar breaking beneath its support at around 105, which they believe would be positive for assets priced in dollars, including cryptocurrencies, if the US dollar starts to break down in a larger way.

What is the significance of the long short ratio in the speaker's analysis?

The long short ratio is important because it indicates the balance between long and short positions in the market. The speaker notes that the ratio is finally balanced out with the price, which could suggest stability and potential for short-term accumulation.

What is the speaker's approach to trading and investment advice?

The speaker emphasizes that they are not a financial advisor and always encourages viewers to do their own due diligence and research, as past results are not indicative of future performance.

What is the 'ultimate Trader accelerator' mentioned in the video?

The 'ultimate Trader accelerator' is a free trading community that the speaker recommends. It offers a complete trading strategy, free education, and a Discord community, and is available through a link in the video description.

What does the speaker mean by 'Trend Confluence'?

Trend Confluence refers to the alignment of multiple trend indicators or signals, which can provide a stronger indication of the market's direction. The speaker is looking for this to give them more confidence in the market's movement.

What is the speaker's view on the Elliot wave cycle?

The speaker believes that the current market is in the second major correction of the Elliot wave cycle, which they consider to be the wave four of a five-wave cycle. They expect one final leg in the bull market to come after this correction.

What are the speaker's expectations for the end of the bull market cycle?

The speaker expects that the current cycle will have a final leg up after the correction, which they are actively monitoring for signs of ending. They are looking for trend reversals and pivot points to break out overhead as early indications of a potential macro bottom.