Over the last day, the stock market has taken a decent move up, with the Dow Jones poking above the .618 Fibonacci Retracement, the 200-day moving average, and the diagonal downward trend. All in one day. With this big retrace level now being reached, the big question comes in for the bulls and the bears on whether this is a bear market retrace or the start of a new bull market. And, for those in the cryptocurrency market, why hasn’t crypto popped up yet? The stock market has already retraced 61.8% of the move, why hasn’t the altcoin market and the Bitcoin price reflected that? Join me as we point to past performance of the stock market and Bitcoin, and how historically, crypto does catch a break. But, the big question remains out there on whether the stock market is breaking into new highs, or just retracing, and I play with some Elliott Waves to make a guess.
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iTrustCapital – Cryptocurrency Retirement IRA’s are here and I can trade within my IRA and have non-taxable events. Get $100 credited to your account when you sign up and fund your account through my link, a special deal worked out for viewers of the BCB channel and iTrustCapital.
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Linqto –Private equity investing in companies prior to having their IPO. They offer popular companies like Ripple.
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Unstoppable Domains – Own a .crypto domain, and tie multiple crypto addresses and wallets to one simple human readable name, like mine, bcbacker.crypto, where you can send me XRP, BTC, ETH, ADA and more, by using that one simple address.
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Ledger Nano – Get your crypto off of the exchanges and into your own possession with a cold storage wallet.
https://shop.ledger.com/?r=1da91545b469
Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
To support my channel and become a Backer, Hodler, or Whale here on YouTube, here is the link: https://www.youtube.com/channel/UCia6oYbLKo8fLOguATpACmA/join
DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions. Any affiliate links in the description of these videos may provide a commission if you decide to purchase their products. I appreciate any and all support of my channel, and without you, I wouldn’t be here. Thank you.
21 Comments
Over the last day, the stock market has taken a decent move up, with the Dow Jones poking above the .618 Fibonacci Retracement, the 200-day moving average, and the diagonal downward trend. All in one day. With this big retrace level now being reached, the big question comes in for the bulls and the bears on whether this is a bear market retrace or the start of a new bull market. And, for those in the cryptocurrency market, why hasn't crypto popped up yet? The stock market has already retraced 61.8% of the move, why hasn't the altcoin market and the Bitcoin price reflected that? Join me as we point to past performance of the stock market and Bitcoin, and how historically, crypto does catch a break. But, the big question remains out there on whether the stock market is breaking into new highs, or just retracing, and I play with some Elliott Waves to make a guess.
Below are products and services that I personally use and spend my own money on.
iTrustCapital – Cryptocurrency Retirement IRA’s are here and I can trade within my IRA and have non-taxable events. Get $100 credited to your account when you sign up and fund your account through my link, a special deal worked out for viewers of the BCB channel and iTrustCapital.
http://itrust.capital/bcb
TradingView – The technical analysis charting software I use in every video, utilizing all the tips and tricks, best practices, complete analysis of the cryptocurrency market and exit plans. Get up to $30 off your subscription when you sign up through this link.
https://www.tradingview.com/?aff_id=108410
Linqto –Private equity investing in companies prior to having their IPO. They offer popular companies like Ripple.
http://bit.ly/Linqto-BlockchainBacker
Unstoppable Domains – Own a .crypto domain, and tie multiple crypto addresses and wallets to one simple human readable name, like mine, bcbacker.crypto, where you can send me XRP, BTC, ETH, ADA and more, by using that one simple address.
https://unstoppabledomains.com/r/d245bfb21ad8485
Ledger Nano – Get your crypto off of the exchanges and into your own possession with a cold storage wallet.
https://shop.ledger.com/?r=1da91545b469
Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
To support my channel and become a Backer, Hodler, or Whale here on YouTube, here is the link: https://www.youtube.com/channel/UCia6oYbLKo8fLOguATpACmA/join
DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions. Any affiliate links in the description of these videos may provide a commission if you decide to purchase their products. I appreciate any and all support of my channel, and without you, I wouldn't be here. Thank you.
Legend.
I'll be biting my teeth 😆
Every video I watch I say your intro and outro outloud with you in my best BCB voice! Haha am I alone here or does anyone else find themselves saying "what's going on everybody, this is the block chain backer bringing you the latest crypto currency news and analysis!!!" 😆 😂 😆
Here we go! Here we go! Here we go!!!! Here we go! Here we go! Here we go!!!! Here we goooooooooo!!!!
Get pumped ! Get rowdy! Yeah!!!
hey bcb, I know you present all the facts how you see it but which scenarios do you think are more likely. also can you do a video on xrp
in the crypto bear markets you have squared in red on the DJIA there were times when it was retracing or went to a new high and it was still deep in the red bear market square. any chance that crypto is telling a story like this for the movement in the dow now?
Hey BCB! If BTC does a .702 retrace now, is there chance of alt season during bear market?
Theory: Correlation with stock market now but also labelled a commodity. Correlations for BTC could be changing. Gold often and safety trade with bonds which start to run as economic conditions tighten and are last to sell before pivot/crash in stock markets. BTC could be delayed with Gold into the crisis moment.
Why are people talking about moons when a recession is imminent. Reveals infancy
In everyday use, the word "theory" often means an untested hunch, or a guess without supporting evidence. But for scientists, a theory has nearly the opposite meaning. A theory is a well-substantiated explanation of an aspect of the natural world that can incorporate laws, hypotheses and facts.
Great info thank you very much and once again you the man BCB#1 in my book 👍
Thank you for putting this one out! Wasn’t expecting one today! A pleasant surprise! PS I thought crypto followed the stock market 😂
Hi BCB, when we were going for ATH in BTC you were looking at the inverse for wave structures and counts, does any of that apply here with the DJI?
If inflation numbers come in lower there will be some euphoria in the market.
Thanks man, appriciated for the enlightenmemts 👍😀
So happy that I found you in April 2020. Love my sensei. ❤️
maybe the crypto market is leading the way…and we all just got to retracement at the same time like clock work
Crypto can be leading or lagging the stock market depending on when people are buying into stocks or locking in gains. Right now lagging when this stock rally tops out expect alt season.
that imitation man :)))