BITCOIN: I AM OUT…… [for now]

❎ TRADE ON BITFLEX (UP TO $68,888 IN PRIZES): https://cryptokid.io/BITFLEX (No KYC)
Overall, I think that Bitcoin is in for a massive run after a correction of approximately 20% towards the downside 🙂

BITCOIN: I AM OUT…… [for now]

🔸 SIGN UP TO BYBIT: https://cryptokid.io/BYBIT (UP TO $30,000 BONUS)
📈 TradingView: https://cryptokid.io/TradingView
📊 Crypto Portfolio Tracker: https://cryptokid.io/CoinStats (43% OFF)
⚡ HALVING COUNTDOWN: https://cryptokid.com/halving-countdown
🚀Join my FREE ALPHA channel on Telegram: https://t.me/CryptoEfeAlpha

Subscribe to my Turkish Channel! 👉 https://www.youtube.com/@kriptococuk

👇 Follow my socials for DAILY ALPHA👇
🐦 Twitter: https://twitter.com/CryptoKidcom
📸 Instagram: https://www.instagram.com/cryptokid
🕺 TikTok: http://www.tiktok.com/@crypto_kidd
📧 Get in Touch: contact@cryptokid.com

Timestamps:
00:00 Overview
02:08 Trade Update
04:25 Bitcoin Drop
07:31 Spot ETFs
08:08 S&P Comparison
09:25 Ideal Scenario
12:03 On-chain Analysis
13:29 “Buy the rumor, sell the news”
15:09 Ordinals Protocol

#Bitcoin #Crypto #Trading

DISCLAIMER: Virtual Asset values are variable, cannot be guaranteed and can be highly volatile. Nothing on this channel is financial advice, just my opinion only.

Advertiser Disclosure: Some of the links and other products that appear are from companies which Crypto Kid may earn an affiliate commission from.

Ladies and gents I know the question that you all have in your heads right now why in the world coming up towards the Hing coming up towards the ETF approvals it’s the time to get out of Bitcoin and I’m going to be answering all of these questions filling in your

Head right now in this video if we will hit $47,000 before we see $36,000 or is it going to be the vice versa and what I’m planning on doing with this position and when do I think it is a good time to be getting into Bitcoin so for all of

That and much much more especially the onchain analysis that we’re going to discuss it’s going to be mind-blowing stay tuned until the end of the video I’m going to be talking about the latest updates with the SEC and if I think that you know the ETF approval is is going to

Be a buy the rumor or sell the news type situation or if I think that it’s going to actually continue to pump Bitcoin towards new alltime highs there’s something to remember and this something is it’s a pretty big something and the inscriptions are creating alltime high records in transactions how that’s good

For the Bitcoin Network that’s also interesting to look at and how that’s going to increase the price drastically that’s also another interesting thing to look at but the chart that is going to blow your mind in in the totality of this video is going to be this one and I

Know that it doesn’t look like something too crazy with a bunch of indicators and ulators but believe me with just a combination of the stochastic and these three simple moving averages we can tell that Bitcoin may end up seeing a little bit of a drop off um in the upcoming

Month or two so ladies and Gent for all of this all of that and much much more make sure to watch this video Until the End and most importantly guys if you can smash up the like button that would be very much appreciated and just for today

Or at least just the next couple of days if you can hit the Subscribe button alongside the like button that would mean the world to me because I have an aim personally myself alongside you guys my crypto kid uh Squad if we can hit 30,000 subscribers by the end of this

Year it would be fabulous and um all it takes is just 90 sub subscribers in 10 days and we can hit it so if you can go ahead and do that it would mean the world to me at 16 in 2023 hitting 30k would be massive ladies and gents I know

That all you care right now about is wondering what the hell is going with Bitcoin and uh if we’re going to go higher or lower so let’s get into that now in yesterday’s live stream we took some profits off of this trade at $44,500 exactly which provided us very

Nice resistance going into today as we go went up to it and then saw a rejection back towards the downside now I discussed on the live stream yesterday how important this line is going to be and um if we can get over it then potentially we can head towards the

44,000 uh sorry the $46,200 target of this double bottom structure but if we can’t get over it right now it it may be a problem so you’re thinking well am I going to close this trade am I going to open a short I’m going to get to that

But in terms of am I going to close this trade no uh if this was a higher margin trade I would would have been taking much more profits off of this trade we only took about 20% in profits I have a current takeprofit at 46.2 stop- loss at

41.8 which is in uh profits right so if we hit the stop then we’re not going to lose money we’re actually going to be making a little money but because it’s such a small trade I’m not planning on uh closing it at the moment or entering into a short position because the

General the general rule and technical analysis is is to basically play along with the trend and now that we have a bullish Trend and the trend is your friend I don’t want to open short positions instead I’m planning on buying Bitcoin cheaper if we fall down to these price targets of

36.2k 31k and 34k and if you guys want to open these limit orders too you can go over to the description below check out the link for bit flex to get up to $ 68,800 worth in prices um and it takes about 20 seconds to sign up it’s super

Easy if you go to the platform collect your daily Flex Points um through different trading activities through just the daily Flex Points available then you can redeem prices which are pretty crazy and pretty cool and hopefully before the new year I can get the trayor that’s the new goal it was

The iPhone but then I realized it’s going to take a lot more Flex Points for now it’s going to be the trasor uh which of course after The Ledger situation may be a good idea overall but ladies and gent let’s jump back into it and discuss why I think right that Bitcoin can

Actually end up seeing this reversal down so the most important chart that I want to cover is not this but this Bitcoin this Bitcoin chart here now the reason why I want to cover this one overall is because of the stochastic now the stochastic has been pretty accurate

On bitcoin’s price history if we go back and zoom out into the previous uh bull market we can see that Bitcoin had a bullish crossover right when we were oversold um approximately in January of not January but July of 2021 and then Bitcoin saw a bearish crossover going

Into just the next couple of months in September and as you can see Bitcoin rallied over here by about 67% so let me see if I remember that correctly just from the opening body of this candle so Bitcoin rallied about 67 66% and then we

Saw a 60 actually a 30 35 I think it was a 35% drop no it was a 25% drop towards the downside and I’m comparing this situation particularly with what’s going on right now because I know Bitcoin has had bearish and bullish crossovers on the stochastic in these past couple of

Uh months and yes every time we saw a bearish cross cross over the price of Bitcoin did end up seeing a drop towards the downside we saw another cross over here Bitcoin ended up dropping right we saw another cross over here Bitcoin ended up dropping but now it’s much much

More significant because the stochastic is going directly from an oversold region where we had a bullish cross over to now an overbought region into a bearish cross over and it’s very similar to the previous price action because Bitcoin end up trading for about uh six or you know five or six green candles

Towards the upside and then saw the the correction and continued pumping towards new all-time highs I think this is what’s exactly going to happen to bitcoin’s price action going into what we have right now so Bitcoin Sol this incredible a candle increase towards the upside and now if these moving averages

These three simple moving averages of 3 9 and 30 if we see the three period moving average cross into the 9 period moving average it may be a good time to start opening shorts although I’m not going to do that because I don’t want to

Chase a short in a bullish Trend like I discussed I’m just going to be buying Bitcoin cheaper but that that that crossover which we’re having right now um even if we don’t see a 25% drop if we see just a 20% drop from where we are

Right now that’s that’s going to take us well a 25% drop would take us to 32k and a 20% drop would take us to $334,000 so as you guys recall I have limit orders at 34k and 36k and just depending on how the market is looking like I may add to

That earlier on uh or we’ll just adjust it but let’s see so make sure to stay tuned on this channel I’ll be updating you guys whenever I decide to open that long position or adding to the long position we currently have so again make sure to stay tuned on the channel but

The main gist is the main idea is that Bitcoin may see this reversal down and if it happens it’s completely healthy because we can see here that Bitcoin once we saw that reversal we pumped into new all-time highs now I think this reversal is going to be fueled more by

Bitcoin spot ETFs because the ETFs are coming that’s there’s no shadow of a doubt of that because what’s happening is we’re seeing all of these advertisements for the ETF um for the ETFs and look if there was not going to be an ETF it’s basically illegal for all

Of these issuers to be creating um marketing efforts for the um non-approved ETF but because it’s most likely going to be approved right now looks like it’s fine for all of the advertisements that is going viral on Twitter so that’s good right the ETF is

Going to come but if we go over into the previous price history for Bitcoin especially going into the past couple of months all of these pumps and dumps for Bitcoin has been literally fueled by the exact same thing the ETF approval so I think it’s already priced in just like

The S&P 500 already pricing in the rate Cuts going into next year which led to a Seven Candle rally up I believe I think it’s seven candles and look similarly enough right we’re seeing a bearish cross over on the stochastic which when it happened the last time right when it

Happened the last time this the the 500 saw a great reversal in price and actually like if I was trading traditional stocks if I was able to trade traditional stocks I would have probably opened a short position as soon as the next candle the next candle that

Appears on the weekly time frame uh start started trading below uh this candle right below the current candle because this is a beautiful reversal candle um exhibiting an exhaustion in buyers and it it’s so texbook after such a bullish Trend towards the upside so if you guys are trading the S&P 500 right

You may you may want to look at my analysis here and of course nothing in this video is financial advice but I think this would be a crazy trade to take in my opinion right going into the support line taking profit at the support line and putting my stop loss to

The wick over here because that’s usually how you trade um um shooting star candles and technical analysis but anyways the point that I’m trying to make here is that the stochastic is highly accurate and um we’re seeing it right now on bitcoin I think it’s early we’re seeing it early yes it’s possible

That we see a cross back up right we see a bullish crossover back up Bitcoin hits 47k from all the fomo that is created on um on the ETF right so from all the hype that is created on the ETF it is possible that Bitcoin pumps quickly to

$47,000 as it’s very important level of resistance and then after hit $47,000 then we see a dip and just because of that scenario I’m not closing this long position right so if we see this scenario then we’d be making approximately ,000 $1,100 in profits and

I added more Marin into this trade so if we do end up going to 46 or 47k then it would be very very bullish for us and just because of that scenario I’m not going to be closing it it’s possible because the way that Bitcoin acts is

Whenever we see a bullish move or sorry a bullish news or bearish news people fomo into that into that direction so it’s possible that we hit 47k first but inevitably we’re going to see a correction uh from my standpoint of about 20 to 25% and uh once that happens

It’s just going to be giving us an opportunity to be buying cheaper Bitcoin and that is pretty much it I mean look we’re in a parabolic cycle one year after the Hing we’re probably going to see a alltime high for Bitcoin and the onchain analysis that I’m about to show

You is going to support that as well one only downside that I’m seeing on the shorter time frame is that Bitcoin in the daily right if we closed as a shooting star Candle on the daily uh we may see a reversal back towards the $440,000 area if we do that then not a

Massive deal if we come back to the 38,800 or or towards the $39,000 level I think it may be a good place to potentially open a limit long position and you know what I’m going to set one right now because I think I close the previous one uh because Bitcoin well as

As there’s more candles right this line of support continues to go go upwards and now the price to potentially enter into a long position has changed to $39,000 so what I’m going to do is I’m going to set a long right now to 47k if Bitcoin sees a reversal right with an

Entry point of 13 $9,000 so if I switch back to bitflex we can put an active order so if we go to limit orders here put $39,000 so I’m just going to put a not I don’t want to do like a whole number in in in the you know in the thousands

Because usually those don’t get filled in the usdt spot if I just put 500 with um 15x leverage that should be sufficient press confirm and then boom of course again if you want to open a similar trade uh with your technical analysis then you can go over to the

Description below and sign up the bed flag to get up to $ 68,800 worth in prices now coming to the best part of the video right the onchain data because this is what is really interesting like this is the actual interesting data that will support all of the justifications that we made for

The price and in trading overall you can use fundamental analysis technical analysis and in Bitcoin specifically you can also use onchain data that can add validity to your summaries right and over here we can see that Bitcoin is not seen any m massive major pullbacks compared to the previous Cycles that’s

Why one right now would be very healthy for the long-term growth of the Bitcoin price and if we keep going over the charts it’s a very long summary we have two different newsletters here but this one basically explains why Bitcoin um you know will potentially keep on going

Up especially as the supply decreases and summarizing this article again it just talks about the reduction and Supply compared to the demand because after the Hing we’re going to see a significant Supply cut from about about 900 Bitcoin available to the market uh from the miners on a daily basis to a

Much less number and with all of the ETF providers and all of the institutions demanding Bitcoin there’s going to be a supply shortage that’s going to take Bitcoin as a market cap asset much higher and um that’s basically what Michael sailor said three days ago the

Supply is going to fall demand is going to increase so bitcoin’s just going to go higher than what we’re at right now he didn’t give an exact price Target but it’s going to be higher next year that’s that’s the conclusion that I can take and going towards the ETF approvals it’s

Going to come like it’s the ETFs are going to be there it’s just the question of is it going to be buy the room or sell the news event or not I think it will be after seeing a price pump potentially to 47k but it is coming it’s

Coming in almost 2 weeks basically the first one will hopefully be approved on the 10th of January uh which is going to be from Arc invest the kind of feeling the gut feeling that I had inside that something’s going to go wrong is the reduction price that’s that’s what I

Feel like is going to happen but something to remember based off of the overall economy right just something to add here for all of those guys that follow the regular regular economic events across the world and in the United States overall because it’s important right it’s important in the

Sense that it impacts the Bitcoin price too see everybody’s saying that we’re going to see a soft Landing with the interest rates going down next year the the S&P 500 Market is rallying the traditional stocks are rallying overall tech stocks are going crazy Apple hit a

New all-time high Etc but we’re the the the mention of the phrase soft Landing is terrible his torically because we can see that in 2007 before the massive recession that we had in 2008 all of these massive you know guys were pointing out that the us is going to see

A soft Landing but guess what the the markets tanked like crazy we had one of the biggest recessions in history and this is what the news agenes are the news agencies are saying at the moment so I’m just going to leave that out there um it’s a it’s a it’s a pretty

It’s a pretty good indicator in my opinion and um I really do think that a reversal in in the economy overall next year is going to be due and yes maybe the interest rates are going down but if you look at everything else it’s not

Good I think it’s it’s a bit more of a propaganda cover up of the real situation that’s going on in the economy now the final thing that I want to get into before ending off this video is that the overall transactions of of Bitcoin ordinal protocol and inscriptions has gone significantly High

We’re seeing the nfts absolutely go crazy but this is very good for the Bitcoin blockchain and that’s what I talked about and this is the next big thing in crypto so uh the video that I made 7 months ago because now that the supply is going to be cut right the

Havening is going to happen and the miners are going to be collecting less rewards it’s not going to be too profitable for them at this stage so with inscriptions with Bitcoin ordinals it creates new incentives for these unprofitable miners to stay in Bitcoin to keep mining to keep making sure that

The Bitcoin network is decentralized um and everything functions very well and um you know it would give them this new incentive to stay and not sell their Bitcoin and create massive selling pressure so that’s why I think the Bitcoin ordinal is very important I just

Have one wish that it’s built on a layer two so it doesn’t increases doesn’t increase transaction costs too significantly uh and doesn’t put the waiting time for transactions to be approved higher than what it needs to be because Bitcoin is a transaction it’s it’s a it’s a store of wealth and a

Unitive transaction that’s what it should be it should be like gold it shouldn’t be um it shouldn’t be like ethereum and if we look at the Bitcoin punks right they’re going for like 4.1k 0.1 Bitcoin almost uh in terms of like the floor value but in my honest opinion

These are just pfps with no utility so if you were to keep this money in Bitcoin rather than putting it into a pfp nft with no utility then you would be making more money with Bitcoin in the long run from what I see so that’s why I

Don’t like the nfts right now but of course there’s so much to be done with nfts that could be good for um consumers all across the world but that’s not the stage that we’re in right now so that’s the only concern I have but ladies and gents that is basically it for today’s

Video I know it’s been a very very long one and I appreciate you watching Until the End uh it was very informative let me know if you want to see more informative videos like this one uh of course it takes a lot more effort to do

But um I think it’s very important to do them alongside the short ta updates because it gives you a wider scope of knowledge about everything that’s going on not just in the crypto space but in the wider uh traditional economic space too ladies and gent thank you so much

For watching I hope you enjoyed this video and I I hope to see you guys in the next video very soon so guys take care and I will see you all in the next video very soon take care guys and bye-bye