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Now salana is some distribution into the rally at a key Fibonacci the 78.6 Fibonacci it’s down about over just over 7% right now uh could end up forming a Divergence on a lot of the indicators confirmation of a lower high but uh the professional money has begun distribution now it still May exceed
This level but we did turn off the 78.6 Fibonacci or may it a lower high if we try to rally back up uh surrounding the Bitcoin ETF it might diverge with Bitcoin bitcoin’s going sideways Bitcoin might push on higher the upper channel line and salana might make a lower high
But uh again over the last three days we have seen now distribution over the last three days salana has dropped uh 23% or so 23 1/2% so professional money has begun to do profit taking probably get another push back up but there could be uh more distribution first but uh
When it does push back up we’ll be looking for a lower high or a higher high uh a Divergence or a confirmation of a lower high you’re seeing distribution into the rally about 23 1.2% or so just under 23 1.2% in the last uh and a half days here 4 days or
So three down days and then we had the peak 4 days ago after an amazing 600 plus% rise since the September low salana is forming this negative diversion or has formed this negative diversion here with this peak over here very very large uh diversions it may get
One in the more recent price action right here Bitcoin may do the same thing and go up and hit this upper Channel again and it’s a rising upper channel line but we came right up and we hit a upper channel line for salana which was parallel to this lower boundary these
Touches down here and with that touch uh the perfectly parallel boundary uh of the channel it Formed that negative diversion so again could see a pullback you got a trend line right here uh pull back a little bit more to the trend line or something or moving averages and then
Again try to go push and get a lower high or a higher high but what’s interesting is right up to the 78.6 Fibonacci this is our log scaling uh again we have the lower boundary here again parallel boundary we went right up to that perfectly parallel boundary with this
Peak over here this high right here and and uh again it’s perfectly parallel uh and we LED right into our 78.6 Fibonacci right on the nose and sellers showed up now again we still may go a little bit higher in form a Divergence and over through the 78.6 Fibonacci uh and hit
The upper channel line uh but again it is also interesting that we hit the black trend line right here which takes us all the way back to these lows pointing potentially to the next high and you have these lows here these highs right here and it’s pointing up into
This area and again we’ve hit it we may hit it again and a Divergence but pretty interesting stuff again it’s doing what Bitcoin is doing in that it is forming a channel potentially a bare flag you possibly have a large measured move pattern that could form if we see this
Soff happen conventional wisdom is that no the move is just now getting started and I have this massive runup in 2024 all over the place the hashtag Bull Run 2024 this a kind of euphoria that happens the run up here with salana we’re seeing it with coinbase we’re seeing it with other cryptocurrencies
Rug pull is going to happen but salana likely uh at the end of its run here in the golden pocket at our 78.6 Fibonacci and again we may overthrow it to form a Divergence but kind of interesting that you’re hitting this perfectly parallel upper Channel and the 78.6 Fibonacci and
This trend line all right on the nose uh again we still May exceed it diversions tries to form uh on indicators like the RSI we just looked at if the RSI gets another reference point of a Divergence in the more recent price action it made a Divergence with this peak here and
This peak here so far so again probably see salana turn higher with the approval of the Bitcoin ETF Bitcoin will break out of its triangle which I will show you then it will likely Peak with a Divergence in all likelihood but the professional money has begun
Distribution and when we rally up if we rally up to new High you will likely see more distribution take place and eventually uh come back towards this trend line towards horizontal support which intersects with that area so again just some things to be paying attention to but salana having a breathtaking rise
And it could be signaling again that we could see a major selloff with crypto looks to be in a topping process near the golden or near the at the 78.6 Fibonacci in the golden pocket so very very interesting I’ve talked about the coinbase rally here again very similar
To salana again coming up it’s in the golden pocket again with our log scaling we uh had that uh 9139 count form we’re going higher yesterday we had a rally trying to overthrow this level I talked about maybe we go higher again the inverse heading shoulders pattern
Measured a little bit higher but again you’re in this golden pocket area your uh your 78.6 Fibonacci from this peak over here to this low uh is directly overhead at 2117 we’re in the golden pocket also a potential bare flag that could uh develop just like salana just
Like on Bitcoin now coinbase is almost flat for the session it is uh slightly higher but again I’ve talked about this diversion just developing the RSI and again the last time we had that happen uh again coinbase tanked by nearly 40% uh the time before that with the
Divergence and every single extreme at the RSI has led to a significant selloff but the Divergence is here the last one that we had 40% uh uh uh sell off the one back over here marked the Bitcoin top and the coinbase lower high that set
Up uh after the IPO over here and it tanked by 90 2% coinbase went from $400 plus dollar all the way down to $31 now it’s rebounded back up had this big move up but it’s also forming a bare flag with negative Divergence this is suggesting we’re probably going to see a
Sell the news byy the rumor sell the news event with the Bitcoin ETF with Bitcoin with crypto with salana and others we’re seeing the euphoria before the approval when the approval happens it will be the sell event I expect that Bitcoin is going to break out to the upside in all
Likelihood of the triangle we talked about a liquidation move first or chop and slop just going sideways we’re getting the chop and slop we talked about both of those scenarios I think you’re going to go up and hit this upper boundary trend line right here diversions here in the weekly time frame
With Bitcoin and I think that will Mark the peak with Bitcoin you will form the negative diversion here uh and Peak you’ll have the bare flag which will be a continuation of this and we’ll have our large A in red our B will complete wave B and then we’ll get wave C which
Should take us down uh to 89 10,000 or so again I believe these lows are pointing to the next high which I’ve talked about at Great length in detail that the previous two bare Market lows are going to push us up now again the conventional wisdom is that if you don’t
Believe that Bitcoin is going to be at 100,000 you know rounding the announcement and the launch of the Bitcoin ETF complete dope and again this is the same stuff they were telling us back at uh you know 69,000 when we had the false breakout was never dropping below 60,000 before
2021 ended Plan B and the move was Plan B was telling us Bitcoin was going to be worst case scenario it’s going to be at 135,000 by the end of 2021 and it peaked at 69 in November and it collapsed 60% in a couple of months months nearly 60%
And then went on to drop 78% H the hopium these people get so into their hype step back and see that hey this has been priced in I think you’re getting this massive ABC corrective move here I think eventually we’re headed back to 8 or 9,000 10,000
Something like that it’s not priced in PIV it is not priced in a recession uh the stock market begin to price all that in after the S&P makes new all-time highs which will probably see here uh within a few days over the holiday trading or shortly thereafter into the
New year the Bitcoin approval the approval of the Bitcoin ETF the herd will likely get that correct but the direction will be the opposite and again we will likely see a downturn just as we saw over here the Bitcoin Futures contracts it marked the very top Bitcoin
Before the day of the launch the launch was immediately after the approval a few days later and Bitcoin peaked and it turned and it crashed 84% it had an immediate crash a longer term crash and the same thing as I said with the coinbase PO that was everybody’s going
To come back into crypto it was the coin Futures contracts all the big money’s going to come in Bitcoin now and it marked the top the coin Bas IPO oh everybody’s going to pile into crypto now because of coinbase and it marked the very day of the top for Bitcoin the
Very day of the top there for uh coinbase and we haven’t seen that top that high sense even though we had the rally back up on coin uh coinbase and right here with the Bitcoin Futures ETF it marked another top this will likely Mark another top the approval of the
Bitcoin Futures I’m sorry the Bitcoin spot ETF I think this is where we’re headed I think the consolidation will take us up there this is what we think is going on and I I think that we’re completing a five L push higher in an A
B C to complete wave B and then it’s going to be followed by the wave C which we’re you know being told now Plan B is telling us bitcoin’s never dropping below 35,000 again never the same stuff that they said not necessarily him but the the the the is were all saying we’re
Never dropping below 60 again and then we did and then we rallied up from 30 to 48,000 they said oh we’re never dropping below 40,000 again and then we did they’re saying we’re never you know dropping below 20,000 we’ve gone higher now and so now uh you got B telling
Telling us uh I read that uh article that he’s saying going below 35,000 and his new Target now is over 500,000 for Bitcoin the same crazy levels uh you know he gave us the worst case scenario 135,000 back up at the top he told us that best case
Scenario will be at over 400,000 by December of 2021 and the complete opposite the bottom fell out of Bitcoin same hype the same stuff going on Plan B making these predictions again the moon Boys on us in a few days we’ll be at over 100,000 we’re never going to go below
100,000 the the institutions everybody that’s going to buy the Bitcoin ETF they’re all going to have to pay their prices what’s going to happen is they’re going to liquidate they’re going to come in and they’re going to liquidate you’re going to see the whales bigs the big
Money and the ins they’re going to liquidate all of these people and they’re going to push this thing down because they want to buy Bitcoin on the cheap and and again the Bitcoin hype for the Bitcoin ETF it’s already all been priced in I said we’re probably going to go up
And hit this upper channel uh towards the 48,000 the 78.6 Fibonacci for Bitcoin is at 50,000 we may reach that level again it is likely going to buy the rumor sell the news now we’ve just seen ethereum break out of this triangle Bitcoin is going sideways Bitcoin is in the triangle
Ethereum is forming a triangle it’s just broken out of it here in the 4-Hour time frame and again we pushed higher hitting some resistance which I’ll show you and again could we pull back go back up and and uh forming a Divergence here or again key resistance we are the breakout
Though with ethereum with saw the breakout yesterday with a move higher uh by 6.71% we rallied up further and now we’re getting a topping tail at a trend line of resistance so this is kind of interesting for ethereum now again the session isn’t closed but right now
During the session here we’re getting a topping tail right now at the moment you’re forming a bearish shooting star now what’s really interesting about ethereum again has a similar channel to bitcoin and again these lows down over here if we connect them and we draw parallel upper boundary again we didn’t
Quite reach it just like Bitcoin well we’re trying to right now if I exclude the Shadows we’re slamming right into it uh but uh again it might be uh that we see this diversion here in the most recent price action on ethereum on the
Macd and the RSI the RSI uh I have a uh uh a diversion St in let me change this here and it it could be that we get again a move up here we get a multiple Point diversions like that we have a a a breakout of the triangle we get a back
Test we still may come back up here and again flirt with this area some more with the diversions or uh try to reach it immediately we’ll see how the session closes for ethereum but again uh again it’s likely going to stall near the upper boundary of this Channel and I’ve
Drawn perfectly parallel to this lower boundary like I said if we exclude the shadow you’re slamming right into it right now so we’ll be watching this high that forms today interest especially if we end up getting a topping tail and again sometimes top forms ethereum and Bitcoin diverge from one another kind of
Interesting kind of like the NASDAQ and the S&P diverge from one another uh it’ll be interesting you know at the the top uh Point Peak ethereum didn’t ethereum went on and made a new high Bitcoin didn’t at our recent bottom Bitcoin made new lows ethereum got a
Higher low they often will diverge from one another so in a a short term and and bigger uh longer term interesting to see what happens but I’m watching this channel on ethereum and the Divergence the mcds turning back up and again we’re likely going to form this multiple Point
Diversion and see ethereum uh probably Peak around this uh upper channel line area is already then again we can exclude the Shadows ethereum continued yesterday’s rally today but there’s distribution going on you’re getting a topping tail at the moment anyways and currently we’re down uh 40% at the
Moment I zoom out you can see again we are just directly below that upper boundary the parallel boundary and again we’ll probably see some kind of turn here in this area Chanel is a very large bare flag and let me just correct something I said ethereum went on to
Make a higher high uh diverging with Bitcoin actually it made a lower high diverging with Bitcoin but there was a Divergence uh present I said that backwards I’m sorry but very similar to bitcoin we’re up in the uh let me just bring it up here uh this is the log
Scaling the the Channel that I showed you earlier that’s a linear scaling this is the log scaling uh we’re here just underneath the 61.8 Fibonacci and we have an upper channel line on the linear scaling directly overhead on ethereum and again get a topping tail today so
We’ll see what becomes of that but again directly overhead you have the 61.8 Fibonacci directly overhead you have the upper boundary of the channel look at the Fibonacci with the linear scaling we’re nowhere near the 50% retracement this is where our Channel comes in and again possible bare flag pattern similar
To that of salana similar to that of Bitcoin similar to what the S&P is forming it’s also forming a bare flag I think that uh the S&P is going to go up make a new high hit the upper boundary Bitcoin still down about 2% as Bitcoin breaks
Out of the triangle uh I think it will go up Reach This upper boundary up here I think the S&P will do the same thing and then I think we’ll see a sell off I think Bitcoin will be by the rimor sell the news surrounding the Bitcoin ETF
Probably see a very very ugly first quarter uh for Bitcoin and uh in all likelihood a top completing the bare Market rally with this upper Channel but again ethereum is just directly underneath it it’s broken out of the triangle Bitcoin is likely going to do the same problems is that again we’re
Advancing though on declining volume and you know one thing is tell us oh everybody’s going to have to buy every the herd is buying who’s left to buy they’re telling us the institution the institutions are going to sell and they’re going to push it back down pull
The carpet out from underneath the herd as they did back up at 69,000 as they did back over here at 65,000 as they did back over here at 48,000 we’re going to see the same thing right here as uh Bitcoin moves towards that area S&P also
S&P currently up about 10 and a 12 points right now uh just underneath that new all-time high that that previous all-time high of 4818 uh currently the high today has been 4793 we’re about a point underneath the high of the session so we’re within Striking Distance of that high we’re
Probably going to come up and hit this trend line right here this upper channel line for the S&P and the Bitcoin uh daily chart will likely do the same thing as we just looked at then I think you’re going to see the stock market tank I think uh uh Bitcoin will tank in
The first quarter I think you’re going to see a selloff in January and February which historically again has been uh a period of negative seasonality for the stock market as November and December have been positive seasonality prior to that we’ve had you know a summer Peak going into September October oob uh
Being the negative seasonality for the stock market so again it’s following the seasonality uh spot on but S&P is going to come up here hit this level I think uh the upper channel line I think that bitcoin’s going to do it I think you’re going to see a peak if both of them
Market’s pricing in now uh uh seven rate cuts out of the FED I mean just totally unrealistic the FED meeting it was it was five the FED said okay well maybe three and they’re pricing in six right with the fed and next day there and then now they’re pricing in seven rate Cuts
Econom is going to have to be pretty bad for the FED to do seven rate cuts and the stock market would crash pricing in a very very bad uh recession and economic downturn so you can’t have both have aggressive rate cuts and a soft Landing Rosy scenario the stock market’s
Going to begin to price in a recession not a soft Landing it’s the same kind of hype that we’re seeing with Bitcoin I’m going to go was talk about Divergence is again because ethereum is breaking out of the triangle Bitcoin hasn’t done so yet I was referring to the top how they
Diverge I got the wrong top it was the first top not the second one so I apologize for that but sometimes they Peak together here again they Peak together here here they diverged you know sometimes they Peak together we have that upper channel line so we may see them Peak together but uh
Ethereum is breaking out here we’ve saw them Peak together uh other times you’ve seen large diverences or smaller diverences we had a very small diverence when we got the lower high at 48,000 down right here for Bitcoin went up we we hit a peak we got a lower high ethereum went slightly
Higher they diverged they had a small little diversion we could see something like that here you got a bigger Divergence uh here you got a very big Divergence at the very at the bottom here so uh again here we had a little Divergence between the two and they may
Peak together at the upper channel line and Bitcoin just or ethereum is just getting a head start uh here we may get a peak simultaneously but also uh we may see something like this where we get this little tiny diversions like we had at the 200 period here uh where ethereum
Went slightly higher Bitcoin made a lower high after tagging the 200 period and they diverged from one another and it led to uh the bottom falling out of both of them so uh keep that in mind that sometimes you get these smaller diverences sometimes you get big bigger
Ones that’s going to be the case but I’m looking at those upper Channel lines nevertheless uh for both Bitcoin and ethereum Bitcoin uh is not breaking out of the triangle yet has so again we’ll be watching as iFit Bitcoin follows ethereum’s lead on that and let me let me just say this
About Bitcoin again my signals remain bullish my signals remain bullish predicted this rally and the signals have continued to be bullish okay a big believer in the 100 period moving average we got back above the 100 period we told you this rally was going to happen but we haven’t dropped back below
The 100 period okay we haven’t pulled back towards it we’re likely going to pull back towards it like we did here and here but probably uh get a end up getting a reversal something like what we saw back over here uh where we dropped through it or back over here
Where we dropped down towards it bounced and then dropped through it something like that but I’m a big believer Bitcoin follows the 100 period moving average that’s why when we were uh when we had peaked and we dropped below it we were consistently below it we got above it
Here was a head fake drop back below it rejection rejection rejection got above it balance support drop below it here fake out move got back above it and again we Consolidated we bounced right here but we called this bottom and again as long as Bitcoin holds above the 100 period moving
Average it’s going to be bullish it’s got to form a reversal getting a sharp Decline and then drop below it and that will confirm the reversal for Bitcoin but my signals continue to be bullish I believe that the rally is going to fail well I predicted that we would get a
Rally with Bitcoin because of the Divergence on the RSI and because of again signals turning back to bullish above the 100 period I’m also predicting the rally is going to fail and we’re going to set up a larger counter Trend bare Market rally and we’ve been above the 100 period when we
Drop back below it it will Mark a reversal will confirm it going to see another reference point of a diversion develop on the RSI see the breakout of the uh the triangle with Bitcoin we might try to see a liquidation move back to the cloud and moving back towards the 50 period which
Is above our 100 not seen here but again the 100 we were flatlined right here we got above it now it’s rising and again when we start dropping back below the uh the cloud and when we start dropping back below the 100 period moving average it will confirm a reversal again we were
Holding above it after being below it and here we were hop skipping and jumping down up above and below it going sideways now we’re holding above it uh so again I’m a big believer in the 100 period moving average but let me be clear again my signals remain bullish do
Believe the rally is going to fail believe Bitcoin is going to go back and test 15,000 and likely take it out again before the rally got underway here we talked about when we were calling a bottom here we were talking about our our uh our weekly signals uh right after
We called the bottom our weekly signals began to turn bullish we got above the 100 period here in the daily chart and again my signals remain bullish that doesn’t change that I believe it’s a bare Market rally again some people when I say bitcoin’s going to go back and
Test 15,000 or it’s going to go back and take it up they don’t hear my signals remain bullish so I’m just saying don’t have selective hearing here what I’m saying again my signals remain bullish as long as we’re above the 100 period moving average look at my Trend indicator the Tren indicator
Again above the 100 period moving average the trend indicator went into the positive region indicator moved to a higher high it has not formed a diversion yet it’s likely going to uh with the breakout of a triangle in all likelihood the trend indicator form a Divergence it did that with the Bitcoin
Top back over here uh it did form a Divergence and then again you lost the momentum Cloud you Dro below the 100 period moving average and again bad stuff happened you remain below the 100 period and the bottom fell of Bitcoin Trend theator remained consistently bearish except for right
There when we got above it and then it went right back into negative territory When we dropped below the 100 period uh again here we had the back and forth moves uh as we went sideways we went positive and then we kind of went sideways there and then now we see the
Positive holding above our 100 period moving average so again I’m going to be looking for a Divergence on my Trend indicator and a breakout and then again likely a move to that upper boundary channel uh line that I’ve been I’ve been talking about looking at in this video
And then we’ll be looking for a negative Divergence on many indicators it was a bullish uh Divergence on the trend indicator and many other signals that allowed us to call this bottom but again as I’ve said my signals have remained bullish likely going to turn back to
Bearish and eventually go back and test 15,000 we’ll see if we get a higher low or crash through it Bitcoin ETF is likely going to be a sell the news event but will push higher and we’ll be watching 47 48,000 those levels thereally overhead again I talked about the move
Osor turning down and really uh it turned down and we’ve corrected sideways in the Triangle formation now again I told you it’s likely with the triangle either we’re going to get a bigger uh ration move and then come back up or we going to go and form that sideways triangle form the
Sideways triangle and I we talked about it evolving into a bigger triangle it ended up doing that triangle breaks out soon we could see Bitcoin form a Divergence here on the moonboy oscillator again we had a peak here it went higher the previous Peak so there
Was no uh Divergence here we could still see one like what we had back up at the Bitcoin top back over here when we called the top other diverences that have formed tops and bottoms major sometimes uh just shortterm tops and bottoms this is likely going to be a
Major top right here but again we’re probably going to go up and hit my upper Channel lines uh and the triangle break out and you’re likely going to get a diversion here and it could look something similar like this where it turned up briefly just a little bit and
Then it quickly turned right back down and you got your uh diversions we popped just slightly above the previous Peak and again we could see the same thing we hit a high there in the 44,000 area uh we could move to 46 47 48,000 go measures to the 48,000 area you’ve got
Your uh 78.6 Fibonacci just above it at 50,000 horizontal resistance is 48,000 and some change be watching the 47 48,000 area if the triangle does break out but you’re likely going to get this Divergence here and then I think think bitcoin’s probably going to Peak was the bullish Divergence that allowed us to
Call the bottom right there we were watching the rising resistance at 37 38,000 to see if we would turn off of it forming a large uh bearish Rising wedge we broke up through that level we’ve come now to the next levels of resistance my signals have remained
Bullish so now uh again we rolled over here sideways correction rolled over here triangle correction right here so far so we’ll be watching to see if our triangle gives us a resolution to the upside uh one more push higher and maybe we get something that looks like the top
Right here back when we had the Bitcoin uh Futures ETF uh getting approved that’s the pattern that formed right there and it looks very very similar to what we’re doing right now this looks very very close I mean I mean just look at this compare it uh looks very very
Similar uh to here we rolled over and it looks like it’s going to curl back up looks like it you know it tried to curl back back up but then it ended up failing and right here right at this just trying starting to move out of extremes it turned back up starting to
Move out of extremes it turned back up very very similar here with the moonboy oscillator so it’s suggesting again Bitcoin is likely going to Peak and and the uh Point ETF is likely going to be by the Rimer s the news now is interesting that Bitcoin is forming this triangle ahead of the
Potential approval of the Bitcoin ETF which could take place within the next two weeks we’re selling off right now 2% we’re down over 2% uh again just going sideways we had this smaller triangle right here and it evolved into this larger triangle which again is likely going to have an upward
Resolution and again the surrounding uh will either break out just ahead of the uh approval or or with the approval and again this uh triangle measures up to about 48,000 or so there’s major resistance on bitcoin as we’ve talked about triangles can break either way uh if there’s a liquidation move ahead of
The approval then it will have a break down but again pretty good chance we’re just going uh we’re getting chop going sideways ahead of the approval triangle has an upward resolution then Bitcoin will likely move towards this upper resistance area here which is where the triangle is measuring
To will likely push up into this parallel boundary this blue trend line that I’ve drawn right here and again that intersects with the trend line right here and these lows are likely pointing as I’ve talked about a great length in detail these lows are likely pointing to the next high when I called
The Bitcoin top at 69,000 I took to these lows we’re pointing to the next high and we formed the negative Divergence here and it played out that way that was was the approval uh and the launch of the Bitcoin Futures ETF which the launch happened almost immediately
After the approval well likely see the same thing here you got Kathy Wood liquidating her uh position her her Bitcoin position in the grayscale uh trust and have her own uh spot Bitcoin ETF so again obviously preparing uh for that approval here uh that’s likely to come down within days
Again the is likely going to be correct in that it will get approved when everybody believes something it usually doesn’t happen over here everybody believed that the Bitcoin Futures ETF was going to get approved and and and other positive things going on with crypto that the the over here the uh IPO
That marked the very day of the top before the crash here was a Bitcoin Futures ETF and again the opposite happened to what everybody believed 2 months later we had crashed nearly 60% and we went into a a bare Market here and we’ve so far dropped 78% this is likely going to be
The same here I the rumor sell the news again I’m looking at these areas here with Bitcoin probably see the RSI go up and make uh a Divergence here in the more recent price action in all likelihood and that will likely Mark a major top for Bitcoin the Bitcoin ETF has already
Been priced in to bitcoin hasn’t been priced in is our coming recession a Fed pivot that’s likely going to have negative impact on the stock market and Bitcoin people don’t understand that I was reading on social media today you know moonboy uh saying that we’re going
To get this bar when the the approval happens we’re going to get this bar that’s going to go blow past 69,000 and the conventional wisdom is is that the approval is going to happen and bitcoin’s just going to blow Sky High and the dumb institutions H they’re just going to have to pick
Bitcoin up for higher levels and that’s just too bad the retail investors uh you know the herd has spoken and the opposite is likely going to happen again the retail investors bought into the hype and hopium over here we blew past this area we formed the diversions and
The the big money the whales the institutions they pulled the carpet out from underneath retail investors and uh and uh prices in the other direction they were selling then they’re selling now I’ve talked about this at Great length and detail you the opposite narrative is being promoted that the
Whales are just buying this and and so forth and we’ve actually seen uh the opposite take place so this is what I’m watching here with Bitcoin