BREAKING: Bitcoin is Entering the Biggest Stock Market Correction in Over 6 months! (Watch ASAP)
Summary
TLDRThe video discusses the recent all-time high of Bitcoin and its implications amid a volatile stock market and potential economic shifts. It delves into the stock market's largest correction in 6 months, interest rates, and the impact of economic data on market predictions. The video also explores the possibility of a larger correction in an election year and the significance of historical patterns. It further examines Bitcoin's short-term targets, the impact of seasonal trends on the market, and the potential for future explosive market moves following consolidation periods. Additionally, it touches on the importance of understanding human emotions in market cycles and the future outlook for Ethereum in the context of Bitcoin's performance.
Takeaways
- 📈 Bitcoin has reached a new all-time high price, indicating a strong market performance.
- 🔄 The stock market is experiencing a grinding effect and potential decline, with the Dow Jones seeing its largest correction in 6 months.
- 🤔 There is speculation about the seasonal impact on markets and the potential for further downside, especially with the 2024 election year approaching.
- 💹 The economic data suggests that interest rates have not seen as many cuts as initially predicted, indicating a stronger economy and stock market.
- 📊 Traders should focus on chart patterns rather than economic news or predictions of market corrections and recessions.
- 📅 Upcoming economic events like the nonfarm payrolls and CPI data can create market volatility and may be front-run by the markets.
- 🏠 The real estate cycle is in its end stage, with the markets potentially nearing a peak.
- 🌟 Gold has experienced a significant run, but may be due for a correction following the 7 to 10 bar rule.
- 🔄 Bitcoin's short-term focus is to maintain strength above key support levels and potentially test new resistance at the 69k level.
- 📊 Historical data shows that April has generally been a good month for Bitcoin gains, but there have been exceptions, and the current market situation may influence this trend.
Q & A
What is the current market condition for Bitcoin in relation to its all-time high?
-Bitcoin has reached a new all-time high price, and it has been three weeks since this milestone. The market is currently experiencing a grinding effect, with stock markets potentially rolling over and facing one of their largest declines in the last six months.
What is the significance of the recent stock market correction?
-The recent stock market correction is significant as it marks the largest correction in 6 months for the Dow Jones. This indicates a potential shift in market sentiment and could be a sign of further downside risk.
How has the economic data, particularly interest rates, impacted market predictions?
-The economic data, especially regarding interest rates, has played a crucial role in market predictions. Initially, analysts predicted frequent cuts in interest rates, but the actual scenario has been less cuts than expected. This has led to shifts in market predictions, with investors hoping for more cuts whenever the stock markets experience a downturn. However, if the economy remains relatively strong, fewer cuts than predicted might occur, reflecting underlying economic strength.
What is the role of seasonal patterns in the stock market during an election year?
-Seasonal patterns can influence the stock market during an election year. Historically, the months of March, April, and May leading up to the election have often seen the market move sideways with some swings, essentially forming a trading range. This pattern could be expected to repeat in the current election year.
What is the current status of the real estate cycle according to the transcript?
-The real estate cycle is currently in its end stage, specifically in the 'winning curse' phase, which is the last push up towards the tops. This phase is significant for both the real estate market and the economy.
How does the speaker view the recent gold price movement and its implications for traders?
-The speaker notes that gold has experienced eight straight days of increase, followed by a slight dip. This pattern is viewed positively for traders as it presents opportunities for profitable trades following market corrections. The speaker also highlights the importance of focusing on swings rather than individual red or green days in the market.
What is the speaker's perspective on comparing current market conditions with historical cycles?
-The speaker believes that while prices and fundamentals may change across different market cycles, human emotions and reactions to the market remain consistent. This consistency forms the basis for technical analysis and chart reading, as patterns in market behavior tend to repeat over time.
What is the significance of the consolidation period in the cryptocurrency market?
-The consolidation period is crucial in the cryptocurrency market as it often precedes explosive price movements. During this time, the market may appear quiet and uneventful, leading to a loss of retail interest. However, this period is essential for setting the stage for significant price breakouts, as seen in previous market cycles.
What does the speaker suggest about the potential future performance of the Ethereum (ETH) ecosystem based on the ETH/BTC chart?
-The speaker suggests that the performance of the Ethereum (ETH) ecosystem in the current cycle could be an indicator of its future performance. If ETH fails to break past key resistance levels, it might not outperform in future cycles. The speaker advises keeping an eye on the ETH/BTC chart for insights into the relative strength of Ethereum compared to Bitcoin.
What is the speaker's outlook for the cryptocurrency market cap excluding the top 10?
-The speaker's outlook for the cryptocurrency market cap excluding the top 10 is that it may not continue to rise indefinitely. There could be a period of consolidation or even a decrease if the top 10 cryptocurrencies increase their dominance. However, historically, such consolidation periods have often been followed by explosive upward movements.
What advice does the speaker give to traders and investors regarding market analysis?
-The speaker advises traders and investors to focus on chart analysis and historical patterns, as these can provide valuable insights into potential future market movements. They also emphasize the importance of understanding the broader market cycle and key support and resistance levels, rather than just focusing on day-to-day or week-to-week fluctuations.
Outlines
📈 Bitcoin's All-Time High and Stock Market Trends
This paragraph discusses the recent all-time high of Bitcoin and the impact of the stock market's current decline. It mentions the grinding effect of a broad market and speculates on the potential for further downside in the markets, especially with the 2024 election year approaching. The speaker emphasizes the importance of macro cycle analysis, covering Bitcoin, cryptocurrencies, stock markets, and real estate cycles. The focus is on the recent largest correction in the Dow Jones in 6 months and the economic data related to interest rates. The speaker notes that despite predictions for cuts at the beginning of the year, the economy has shown strength, leading to fewer cuts than expected.
📉 Analyzing Market Corrections and Key Support Levels
The speaker delves into the details of market corrections, using the current 3.6% correction as a reference point. They discuss the importance of understanding the stage of the season and the cycle we are in. The paragraph highlights the healthiness of corrections as long as they remain above key support levels. The speaker provides an analysis of the S&P and NASDAQ, and discusses the potential for overbalance in time and price. They also mention the significance of breaking key support levels and provide a detailed explanation of where those levels might be, using the Dow Jones as an example.
📊 Seasonal Patterns and Bitcoin's Market Performance
This paragraph focuses on the seasonal patterns in the stock market during election years and how this might affect Bitcoin and the broader market. The speaker references historical data to suggest that the next few months might see sideways movement in the market. They also discuss the possibility of a larger correction and how this would be evaluated. The paragraph touches on the importance of zooming out to understand the bigger picture and the significance of the current market stage. The speaker also brings up the topic of Bitcoin's performance in April historically and whether the current year might break the trend of green months.
🤔 The Role of Human Emotions in Market Cycles
The speaker reflects on the role of human emotions in market cycles, arguing that despite changes in prices and fundamentals, human emotions and market reactions remain constant. They emphasize that historical patterns can be useful in forecasting future market movements, as these patterns are based on human behavior. The speaker acknowledges that while some may disagree and believe that human emotions and reactions will change, they maintain that these emotions are a reliable factor in market analysis. They conclude by encouraging viewers to form their own beliefs and trading strategies, while also highlighting the importance of studying the market as a lifelong endeavor.
Mindmap
Keywords
💡Bitcoin
💡Stock Markets
💡Interest Rates
💡Election Cycle
💡Correction
💡Seasonality
💡Real Estate Cycle
💡Gold
💡Altcoins
💡ETH/BTC
💡Market Consolidation
Highlights
Bitcoin reached a new all-time high price three weeks ago, indicating a strong market performance.
The current market is experiencing a grinding effect, with the stock markets potentially going through one of their largest declines in the last six months.
The Dow Jones has seen its largest correction in six months, dropping from an October low of 5.5 to a current 3.67.
Economic data suggests that there have been fewer interest rate cuts than initially predicted by analysts, indicating a stronger economy and stock market than expected.
The market is currently in a stage of the bull market characterized by grind-up effects and single-digit corrections.
The upcoming nonfarm payrolls and CPI data releases could cause market volatility, as investors anticipate and react to the data.
In an election year, the stock market tends to be sideways during the months of March, April, and May, which could be indicative of the current market trend.
Key support levels in the market are crucial to watch, as they can indicate the strength or weakness of the market and its potential future movements.
Bitcoin has met its first target and closed above it, with the next level being the 69k mark, previously rejected from the top at 69700.
The possibility of a bull trap exists, where the market runs up and then falls back under key levels, which is something to watch for in the short term.
April has historically been a good month for Bitcoin gains, but there have been exceptions, and this year could potentially see a pause or correction.
Human emotions and market reactions tend to remain consistent over time, despite changes in market fundamentals and prices.
The market could be entering a consolidation phase, which historically has been followed by explosive moves to the upside.
The total cryptocurrency market cap, excluding the top 10, shows potential for further explosive moves, even after a period of cooling off.
ETH/BTC ratio is on a breakdown, and if Ethereum fails to break past key resistance levels, it might indicate a weaker future performance for the Ethereum ecosystem.
The analysis of historical market cycles and trends can provide insights into potential future market behavior, despite changes in the market environment.
Transcripts
it's been three weeks since bitcoin's
put in a new all-time high price we're
seeing the grinding effect of a board
market now we're starting to see the
stock markets roll over potentially
going through one of their largest
declines in the last 6 months is this
seasonal should we expect further
downside on the markets and of course
what does this mean to bitcoin and
cryptocurrencies throughout 2024 as we
lead into the election the big 4year
cycle hit that like And subscribe we
home of macro cycle analysis we cover
Bitcoin cryptos the stock markets and of
course the real estate cycle let's kick
it off now with what's going on out
there in the media Wall Street sells off
ahead of jobs report investors digest
fed's comment we're seeing that across
the board with the largest Corrections
in many many weeks and for the Dow Jones
this is now the largest correction in 6
months so the October low came in you
can see back from mid October the bottom
there that was 5.5 we're now at
3.67 so largest correction we have seen
now I'm going to go through this and uh
the S&P and NASDAQ in just a moment to
have a look at the key Pivot Point areas
but let's just finish off with the uh
the rest of the data here the economic
data looking at the interest rates of
course as a reminder we have been on the
ball here with the interest rates
looking at there being less Cuts than
what the masses had hoped for what the
analyst had predicted the beginning of
the year which is where this post came
out there was a cut every single meeting
a few days earlier you had to cut going
back to December as well now of course
the opposite has panned out there hasn't
been cuts and it's remained on pause but
every time we see some sort of days down
for the the stock markets well the
predictions change and you start to see
a shift to the left to hope for more
Cuts but if things remain relatively
strong as we'll show in the charts in
just a moment then I would expect that
we wouldn't see as many Cuts as what the
market had predicted which is
essentially what's turning out that just
means that there is uh that there
strength in the economy and it's and
there's strength in the stock markets
which is essentially where you and I are
putting our money remember we trade the
charts we don't trade the economy even
when some areas seem like they're doing
bad we're trading the charts and if the
charts are going up and you're only a
spot Trader well then you're going to
make money as the markets go up not
listening to The Hope of major
Corrections or recessions and all that
sort of jazz so terms of the news that's
that's coming up in the next 24 hours
you've got the nonfarm payrolls coming
up next week is the CPI data these are
volatile periods in the market and
sometimes the market tries to front run
what they think is going to happen if it
doesn't occur then you get a flip back
in the price at the moment they're
thinking the data is going to come out
worse and of course we've seen the
largest correction now since October but
of course that's six months scroll out
take a zoom out here Zoom back you can
see that we are well into the all-time
high territory well above the old
all-time highs and in terms of
corrections as we've covered before it's
essentially the uh the grind up effect
in this stage of the bull market now if
you look at the Dow Jones the correction
is 3.6% throughout 2022 it's put in much
more significant Corrections which then
begs the question could we see a larger
correction of course anything's possible
I'm some guy on YouTube but I'm just
going to focus on the charts here and
what we have seen now for essentially
the last 6 months going back to the low
uh 12 months going back to the banking
crisis low and then uh what 18 or so
months going back to the O October 2022
low out of that bare market so we' had a
lot of time to consolidate before we
break out into new all-time highs it's
normal to see single digigit Corrections
and if we look towards the forecast now
for the seasonal patterns in an election
year uh what we've seen now with the
sitting president running excluding 2022
that would be the black line here which
of course Co came in and gave a bit of a
swing to the Chart itself so excluding
that particular year well then over this
period of March April May into June so
you know the next couple of months could
be sideways there's there's going to be
some swings in it of course uh basically
turning into a trading range but that's
essentially what has happened every
single presidential cycle year over this
period so we're starting to see the
beginnings of that with this 3.6%
correction we take a look on the S&P
it's at
2.68 and the largest correction so far
was 2.88 so for those key points in the
market where we would look for some sort
of overbalance now so more selling than
what we have seen previously in this
entire move we'd look forward to uh
Monday Tuesday of next week because that
would take us out to the same time frame
of as the previous move and we would
look for roughly the same amount of
points not percentage but points to the
downside as a previous move so we've hit
that now at 143 but the time is still
shorter so uh next week we'll be able to
figure out whether this is going to be
an overbalance in time and price and it
also has to meet another criteria of
breaking key support levels so there's
still a lot of support in the market
even though this can be one of the
largest Corrections in the last 6 months
remember to always zoom out and then
have an understanding of the stage of
the Season that we're in and of course
the stage of the cycle as well we've had
a very significant runup for the stock
market and Corrections are healthy
provided they remain above key support
levels and what I'm explaining here is
where those key support levels lie if I
saw this Market come under 5,000 uh
probably 4950 to 5,000 that's going to
be a little bit more wiring longer term
it doesn't mean the bull market is over
it just means that we may see the price
remain underneath the current top for
longer than if the price just drops back
to roughly 50 5,50 to 5150 so
essentially it's just assessing the
strength and the weakness in this Zone
it's stronger in this Zone it's weaker
just means more time will occur to get
back to the uh old all-time high whereas
here the old all alltime high will be
hit quicker than if it dropped back now
the area that it would have to fall to
to break this whole thing down you get
your major recession depression bull
markets off blowoff tops happened the
markets are in shambles first area of uh
support to break would be right through
here looking at roughly 4700 points
underneath the previous old all-time
high and it would be the key support
level before the market took off that's
the first level then you would look back
to the 50% levels so let's take this
from the top to the bottom the major one
here now somewhere back under 45 to 4600
points you can see how far away that is
from the current price and for it to get
back there would be pretty significant
double digit losses a long way from that
point but I just wanted to mention where
those particular areas would be should
you see the top in the market and that's
it game over the show's over let's go
home from this point right now we're a
long way from there and we're still in
the end stage of our 18.6 year real
estate cycle we're roughly here into the
win's curse phase which is this last
pushup into the tops this is for the
real estate and the economy the stock
markets maybe sooner usually they top in
a little bit later so keep that in mind
as we head up into the next couple of
years the other thing seeing is gold
just have a bit of a day off here after
eight straight days up you guys that are
trading might be familiar with Gan 7
to10 bar Rule now over the last again 6
months whenever we've seen these seven
to 10 bars in the same swing so don't
worry about your colors your Reds and
your greens the swings are far more
important than a red day or a green day
because you can still have a higher high
and a higher low on a red day as you can
see back here uh you can see it through
here as well there higher high higher
low essentially when you see these big
long extended moves typically there's
some sort of Correction so for Traders
this is fantastic and what you can see
here is we've got another one eight days
straight up potentially we might see
some sort of average correction here of
2 to 4% from this price if it was 2%
maybe somewhere down to about 2200
points it's going to be 4% maybe
somewhere again down to uh 2200 points
if we look looking at the the 2% maybe
2,270 bucks down to about 2,220 bucks so
these things have come across every
single time over the last six months and
although the market goes slightly higher
you typically see some sort of
Correction after these extended moves in
the market especially with uh with gold
in this case so bitcoin's met the first
Target That's That Swing bottom it was
able to close above that for yesterday's
bar now the next level that it needs to
get to is this top here here which is
pretty close in line with the 69k level
that's 69,000 which it was rejected from
the top is at
69700 so in a short-term time frame
that's the the move that Bitcoin needs
to do next in terms of a percentage
you're looking at about 2 to
2.2% and you want to see daily closes
above that level to then get in tune to
try to press to new fresh prices again
but Michael's got a great short-term
analysis video on his channel uh link to
that in the video description to his
channel there just looking at the
possibility of a trap here so basically
a bull trap where we run up test and
then come back under these levels so
that's still all in play because we
don't have those closes above 697 I'm
looking for this bar here and of course
69 but in the short term while Bitcoin
remains above the swing bottom it's in a
space of strength even if it is just the
4-Hour chart that leads us to the longer
term time frames for BTC and we're
currently in a red April now there's
still 26 days to go for till the end of
this month and if you look at history
April has been a relatively good month
for gains for Bitcoin over its entire
history however there have been three
times that there have been red months
you got two there 22 21 and also 2015
could we get another red month if we
take out the data here for April this
year because we haven't finished April
well then you get very good results
about 77% chance of a green month but
that's assuming that the aners are all
equal and we don't take into account
what's happened over the last seven
months Bitcoin has seen 7 months of
green there's not been a time that we've
seen eight months of green this could be
the first chance that we see 8 months of
green in a row especially with such a a
good result here for April over the long
term but when you start to weigh in
those probabilities of it hasn't
happened before it's pretty it's quite
an extended run to try to get your eight
green month especially with the overall
landscape also looking like it might
come come back for a bit of a pause here
especially with the the seasonality then
you start to throw the the probabilities
on the side of maybe might just be a bit
of a pause year because when you look
back at
2021 this was the peak of the market
it's still a red month but it really
wasn't Red by much
1.76% you had to wait till May before
the market basically tanked got its Feet
Again found its grounding and then took
off to that new fresh high that happened
in November of of 2021 so when we look
at this we got seven green months in a
row we've got one 2 3 4 5 6 months
within the swing in a row the
probabilties start to get stacked
against the likelihood of more fresh
prices to the upside hold your horses
this is fantastic news if we are to see
some price consolidation at these levels
so one thing that I've come across a lot
uh that is I guess from from some
comments is that comparing now to
previous times in history previous
Cycles is not something people like to
do or at least new people expect
fundamentals that have changed would
mean that the markets now are all going
to change the charts are all going to
change and my simple answer to that is
so hopefully people don't get caught up
in it prices change we're trading at 60
Grand instead of 6,000 instead of
600 fundamentals change we got ETFs now
we didn't have ETFs last time we had the
Super Cycle Theory we we had other
theories of Bitcoin going to a million
and the previous cycle we had icos and
the previous cycle to that Bitcoin was
you know first getting discovered into
price these massive price discoveries so
prices change fundamentals change but
human emotions never change and what
human emotions are are the reactions to
the market whenever we get super excited
no matter what the fundamental was no
matter what the price is because it
could be any particular crypto you take
your pick on the side here they've all
got different numbers human emotions
never change and that is something that
we can rely on moving forward in the
markets because that's essentially how
they've worked over the entire course of
history and the way that those human
emotions are plotted are on the chart so
there's no guarantee that we're going to
get an exact hit rate we're going to be
100% right in the future but we can rely
I think the most on that humans will do
the same things with the same emotions
at similar times in the cycle forever
and ever and ever now that's a theory I
take into the markets some will disagree
and they'll say things will change and
they'll say human emotions will react
differently to certain things and of
course everyone has their own beliefs
and own ways of trading the market which
is what makes the market so interesting
to continue to study as a a lifelong
Endeavor which is what I've chosen to do
so if you see it different
that's great we'll see how it all pans
out at the end of the day and hopefully
you make coin and I make coin and we all
live happily ever after so there's my
rant about fundamentals and how the
markets can essentially remain
relatively the same or move relatively
similarly and we can review the past to
forecast to some degree the future uh
you choose otherwise that's cool too
let's move on with having a look at some
of these areas in terms of the 2012
cycle into 2013 and of course the
following cycle into the peak of 20177
now at these lows here the market found
a peak in August and then we found that
next peak in April so we're kind of in
that similar time frame now we got a
peak in March so far we haven't seen a
higher high the point of this part is
once we broke through into new alltime
high territories there was about nine
months left and I'll show you the other
data through into the Peaks and the next
ones however the consolidating periods
are the most important time at this
stage especially for cryptocurrencies as
I'll I'll show you in just a moment now
we found that Peak and it the market
essentially went sideways it got boring
the retail Market lost interest and we
see that on the exchange volume as well
essentially there's been less trading
happening on the exchanges and you need
to see more of that come into the market
to get these big blowoff moves
especially for the retail coins which
would be your alt coin tier you're not
seeing institutions and all sorts of uh
hedge funds and and whatever you know uh
ETFs getting created for alt coins you
are just seeing degenerate gamblers some
great Traders making bank from the
markets heading up whenever there is a
lot of volume in there to the upside or
to the downside so this here if we do go
into a longer consolidation Zone after
significant moves to the upside 1 2 3 4
five six green big bars here to the peak
then there was about 5 months before it
broke out on the six Monon here of
consolidation it's just an idea doesn't
need to be 5 months it could be a couple
of months like we've seen already in
this cycle for Bitcoin in
2023 we've already seen a 7mon
consolidation period but to the downside
it was essentially 60 days and another
60 days and then it took off from there
we've been green for the last seven
months and six months within this swing
of pretty significant upside moves so
the these periods in the market that I
that I think we're potentially entering
now whether it's one month two months 6
months this is where the consolidation
happens uh there's a it's boring there's
loss of interest but then what follows
is that fast pump late buyers returning
and they miss out it happened twice in
the 2012 2013 run it happened once twice
in the 2015 to 2017 run and you could
argue that it happened again at the
accumulation bottom in 2021 run
you had it at the low this was very very
quiet here in 2019 you had a similar is
period through here without the co drop
this was very quiet this also was quite
quiet around the harving and then it
took off again another quiet period as
everyone got wiped out in May 2021 and
then we had that final run up which
leads us to now we've had a couple of
quiet periods after that June drop it
basically got rid of most people there's
still a bit of noise here but once FTX
came in basically the noise left and it
was very quiet through December until we
got that pump up in January it went
quiet again through the periods of uh
May into June July August into that low
of September and then we're seeing an
explosive move from that point so I
wouldn't be surprised to see something
like that happen again even if it goes
slightly higher or we take out the low
of March it to me it's not the end of
the world because the cycle is still
well in play and a a consolidation like
this like we've seen over the time six
bars here five bars here another four to
five here four to five here that four to
six-month
period results in extremely explosive
moves you just have to look back to 2023
to see that sideways move kept everyone
out and you get these extremely
explosive moves to the upside now this
is the crypto total currency market cap
excluding the top 10 in dominance so
we're just looking at percentages here
this chart does not have to go up
forever you you could get the top 10
taking more dominance over the entire
Market in the future which would then
cause this to go down so that is a
disclaimer here however from what we've
seen in the past so far maybe this is
one of the final cycles that we do see
head up you've got a Bitcoin alltime
High Bitcoin alltime High Bitcoin
alltime high now after that period
explosive move down little further down
explosive move maybe we see a little
further down so this is all those
cryptocurrencies that might have more
cooling off to do maybe we also see
another explosive move to the upside
this to me is still in play we're still
above very key support levels the only
thing right now is that we're finding
ourselves hit a resistance level twice
now maybe even three times if you want
to include April so maybe we do get a
bit of a pullback here before a breakout
and the explosive move can start of
course this is all just my theory my
analysis especially if we were to see a
cool off here in April and then
potentially into may but I think that
just builds a better foundation for that
next explosive move and the longer we're
here provided we hold up the better that
next move to the upside is going to be
I've got a couple more to show you here
eth eth BTC is actually on the breakdown
so you might recall a couple of months
ago I was looking at this potentially
being consolidation to break out it did
not get there it failed this was the
level we had on the chart we're looking
at 6 million Satoshi it did not break
the 6 million Satoshi therefore it had
to go the other way that's just how the
analysis works but should this hold up
there's a lot of butts in this one if it
holds up it could be similar to what we
saw in the previous cycle you got the
new Bitcoin alltime High eth BTC went
lower here so Bitcoin was still holding
out Bitcoin held its ground then broke
to new new Highs but that put pressure
on eth BTC which then finally had a
turnaround and then it took the
spotlight overall this is just my
thoughts looking forward to the eth
ecosystem and where the salana takes
over and all that sort of stuff if you
care to
know if eth is unable to break past this
resistance in this cycle that might be a
significant call that the E ecosystem is
not going to outperform in the future
some may have already come to that
decision on their own
the chart would tell me in the future
this is a macro Outlook now this won't
be decided I would say for at least the
next couple of years so as I said some
might have already decided that say well
salana forget eth is going to be
something new after this okay I just
want to look at the facts from the
charts as I said if this break down
breaks down and is not able to get back
above that key 50% level then the eth
ecosystem is probably not going to be
the great thing the thing that takes the
market to the next stage in the coming
Cycles just keep that in the back of
your mind and watch this chart here
moving forward into this next stage of
the cycle even though I'm very bullish
on altcoins that they're going to pump
and you know break into new fresh highs
come this next push uh this is really
going to play a big part on whether that
e ecosystem is going to make it come I
guess later in this cycle and
potentially that next cycle as well
nonetheless this is where we sit USD low
bottoms have formed new Bitcoin alltime
High another fresh break to the downside
for E has happened before already and
what comes after that is a nice push to
the upside for ethereum so I don't think
it's all bad news for the rest of this
cycle but I'm just keeping some key
resistance levels in mind for the eth
BTC chart to help me understand the
ecosystems moving forward from a macro
perspective not the day to day or week
to week but from the months and years
years ahead to see who is winning this
race factually speaking from the chart
not necessarily the fundamentals or the
subjectivity about who's what fees this
and that and the other all right that's
the video today thanks again guys I'll
see you at the next one for this
everything bubble that is popping off
until then take care and peace out
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