CRYPTO Crashes On BITCOIN ETF Rejection Rumors!

In this video, I discuss the current dip in Bitcoin’s value as seen on the four-hour chart, emphasizing its significance in the context of a potential bull market. I examine the momentum oscillator RSI’s shift from overbought to oversold and explore the implications of the recent SEC announcement about rejecting Bitcoin ETFs in January. I delve into the trigger behind this move and speculate about the future, considering both the short-term market sensitivity and the broader macroeconomic view. I also reflect on the potential manipulation in the market, citing conflicting reports from Matrix Port and comments from Bloomberg analysts. Additionally, I analyze Bitcoin’s interaction with various moving averages and its potential trajectory, weighing the bulls’ and bears’ influence in this scenario. The video is not only about technical analysis but also considers the impact of news and rumors on Bitcoin’s price, highlighting the importance of staying informed in such a volatile market.

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Intro 00:00
Bitcoin price dip 100% normal 1:00
Bitcoin spot ETF rejection rumor 2:45
BTC price manipulation? 4:00
Bitcoin throwback is happening! 5:55
Macro downside target in play 7:00
Prepare for more short term Bitcoin price volatility 8:20
Jim Cramer does it again! 11:50

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Got to start the video with a little pound the crypto dip happening before our eyes this is Bitcoin on the 4H hour chart this is exactly what we want to see and it might seem odd me sitting here kind of celebrating this Bitcoin dip if we look at the 4H hour momentum

Oscillator RSI going from overbought heading towards oversold whether you think we’re in a bull market yet or we’re getting ready to enter a bull market these moves these dips they happen so if you’ve never of been in a crypto bull market this is a really good lesson it’s it’s exactly what we should

Always anticipate so in this video I want to discuss what triggered the move obviously it’s this headline SEC will reject all Bitcoin spot ETFs in January I want to talk about what triggered the move but I also want to talk about what to anticipate next in terms of the

Zoomed out in terms of the the macro scheme of things so everybody please hit the Subscribe hit the like and let’s jump into the video now I want to start with a clip from a couple days ago really quick check this out very important $50,000 Target but notice

We’re breaking out of the triangle maybe we go a little higher I’m always anticipating Throwbacks these Throwbacks and again this is a daily right this could be a little bit up and then just down right back down right as we’re talking about all this speculative Bitcoin spot ETF people are people are

Getting freaked out back down to 42 because the news hasn’t launched yet and then you know maybe all a sudden it’s falling because there’s rumors of something else rumors of something else again I’m going to say this I’m playing that clip for context how often everybody and how often am I saying this

How often do these things play out we get the throwback and yeah it’s it’s not always the same reason for a throwback but there’s there’s always events that can trigger a technical move and that’s what I say all the time obviously nobody knew hey there’s going to be this rumor

That comes out on January 3rd that SEC is going to reject the Bitcoin spot ETF and it’s coming back down no nobody’s saying that we can predict events but events are often times a thing that just trigger a technical move that needs to happen in this case it’s a throwback to

The triangle and we’re in this very speculative environment right now in the short term any day now people are expecting some type of news right so it’s very very just sensitive Bitcoin and crypto very sensitive at the moment as it’s already entering this overbought phase right uh out of this seme metcal

Triangle so the move back to the Apex critical but what’s the key put aside the headline that triggered it put aside the speculation that’s going on in the markets what happens here at support and that’s what we’re going to dig into in the chart but obviously let’s just

Discuss what’s going on SEC will reject all Bitcoin spot ETFs in January so bitcoin price dumped 9% in one hour on the basis of a report by matrix Port predicting an SEC rejection of all Bitcoin ETF applications and wait you see something I’m going to show you a

Couple posts right now in terms of Matrix Port how reliable they actually are but their justification politics five voting Commissioners are Democrats Democrats don’t like crypto applicants haven’t satisfied the sec’s requirements there is not political justification to approve a Bitcoin Bitcoin ETF those act those points actually it

Makes sense right to be to be careful of a Bitcoin spot ETF approval it really does make sense Gary hates crypto Elizabeth Warren Gary’s boss anti- crypto Army leader hates crypto why are they going to prove this but it really is on a deeper layer on the surface that makes sense but what’s

Going on on a deeper on a deeper level in terms of the big money in terms of the influence of Black Rock and Larry think right what is really going on and and you start just integrating that into the the political dynamics of it all yeah on the surface this makes sense

Sense but what’s the what’s the money doing and what’s happening behind the scenes so I think there’s still a very good chance that the ETFs get approved but check this out this is Bloomberg analyst Eric over here on on on X retweeting said looks like the Matrix

Report took both the blue pill and the red pill because look at this on the same day M Matrix Port they’re saying you can see if I zoom in Bitcoin spot ETF approval imminent and then and then right here why the SEC will reject Bitcoin spot ETF again talk about

Manipulation I wonder and I’m not accusing anyone of anything but you you can’t help but wonder what is this what is this is is somebody behind this behind the scenes like trying to manipulate the narratives and and the price of Bitcoin what is going on in relation to what Eric’s thoughts are on

The situation again the Bloomberg analyst over here people tagging me like crazy on this rejection report we have heard nothing to indicate anything but approval but I want to give the guy benefit of Doubt so I’m asking if he has any sources or if he’s just speculating

He seems to be a Bitcoin Bull and recently tweeted executive said approval likely so again is this like some manipulation going on what is the deal at this point SEC saying rejecting it isn’t just going against uh this is James another Bloomberg analyst and I

Like it was in the early days now you basically saying multiple mainstream news reporters with multiple sources on inside of this also have it wrong too as you know the the the approval is like 90% Plus or so in terms of a lot of these analysts I

Believe and so I think they’re still sticking to that now needless to say the headline happened it is what it is we go over to the Bitcoin daily chart and this is what we’re looking at the throwback is happening right now so first thing I

Just want to point out is you look at this Wick first off Bitcoin fell below the lower trend line right so this is going to this is going to really tie into the short-term analysis of of what I’m potentially anticipating here on the short term but this 50-day moving

Average that’s just that is exactly what we would want to see in a continued uptrend right it’s 50 50-day moving average support to the upside I want to point something out this a word of caution because we’re going to start we’re going to talk about downside as

Well in case this move continues to the downside 50-day moving average support is is always good in in a bull Trend right and we can go look I’m going to actually just show you real real quickly the last bull market right continued higher highs and higher

Lows above the 50 and the 20 these moving averages is always exactly what we want to see I mean look at that support right there at the Blue Line the 50-day moving average that’s like a bull market type of type of move right that’s exactly what we wanted to see but the

Word of caution that I just want to put out there as we’ve been discussing on this on this YouTube channel most recently is the very fact that prior to these Bitcoin havs in Cycles past Bitcoin retraces one last time to these moving averages the 20 20 we moving

Average now 33,000 the 50 we is right down around 30,000 the 200 also around 30,000 the reason I’m bringing that up is because on the daily chart which we’ve been discussing and this was my the point of my video last night was truly just to discuss potential downside

Right and the the downside Target is $37,000 out of this triangle we go to the triangle itself it’s testing the Apex Now is it going to just continue kind of consolidating we get to break to the upside or is it going to just continue falling then we have to start really

Talking about the reality of a $337,000 Bitcoin in that case what’s happening exactly what has happened in Cycles past which is the retracement to the moving averages notice $37,000 on the weekly if I just mark it real quick this would allow Bitcoin 20 week and the 50 just to

Start kind of getting closer into Bitcoin this is what we’ve been discussing on this YouTube channel in in recent analysis especially in regards to this symmetrical triangle now what I want to say on the 4H hour because things are imminent right a rejection or an approval so many

Different things can happen what I’m watching though is is and it and this really is putting aside the speculation what’s happening in terms of the structure that is on the screen of Bitcoin right and look how look how well this has helped us so far anticipating a throwback from this

Level we got it now here’s what I’m anticipating next open up a a 4 Hour the first thing I’m noticing is we’re not in over over sold yet this this this short-term move to the downside I’m not I’m not quite sure it’s over right I I really like to see in

These kind of very quick capitulation type of moves I really like to see Bitcoin hit oversold at least on the shorter terms or shorter term before we start talking about all right what’s the bounce look like I don’t know if I’m quite there yet in terms of all right

What’s this bounce looking like how are we looking like I’m not sure bitcoin’s there yet right a really good example is you go back to this little capitulation that happened in December 10th not even a month ago right Bitcoin just fell look at that nice Wick there and you can just

See Bitcoin put in that 4H hour candle it was not oversold yet and then actually just went lower to fall into oversold eating into this into this Wick that Bitcoin originally saw that’s something I’m watching for now are we going to see something similar Bitcoin actually does start closing some 4-Hour

Candles eating into the this move going lower RSI on the 4 Hour starts falling into over oversold and then at that moment I’m going to say okay what kind of recovery are we looking at for Bitcoin Bitcoin does start closing 4our candles moving lower it’s essentially

Breaking out of the lower trend line and we’re going to be discussing exactly what I was discussing in that YouTube video that I just showed talking about the throwback to the Apex in this case if it’s falling lower I’ll be talking about the pull back potential to the

Apex because just because we’re breaking the trend line to the downside does not mean we’re immediately hitting the $37,000 Target it’s confirmed in the same sense just when Bitcoin broke above the upper trend line it doesn’t mean $50,000 Target is confirmed and it’s definitely going to happen it’s why we

Anticipate the Throwbacks then we’ll anticipate the pullbacks and then we watch how how Bitcoin continues to interact with this entire piece of structure the symmetrical triangle because at the end end of the day everybody that’s what it’s doing this is like this is like a a dance that Bitcoin

Is having with the symmetrical triangle and the question is this is why we analyze structure it’s why we analyze these setups the question is who wins the Bulls or the Bears I’ll tell you what if the Bears end up winning and we go to $37,000 Bitcoin retracement going

To the weekly that is exactly what we’ve seen in cycle Cycles past and it doesn’t even concern me at all but I’ll tell you what the Bulls can win here the Bulls can win here I think we just need a little bit of time this is what I’m

Watching today uh just what does the 4-Hour consolidation look like does it start kind of going lower around an hour and a half until the next 4H hour candle opens the other thing is what could influence what happens next is more rumors or more breaking news around the

Bitcoin spot ETF so that’s something I’ll be keeping an eye on I I can’t help but just mention the fact that it happened happened I tweeted earlier I posted earlier good morning Bitcoin with this drop we were discussing how Jim Kramer says you can’t kill Bitcoin and it’s

Here to stay just yesterday and that could have been the top because his his his calls what he says it’s always the inverse term top at the very least and so I just had to mention that because everybody’s talking about it it’s it’s not even a surprise so everybody let me know your

Thoughts out there I hope you’re doing well hit the Subscribe hit the like turn notifications on to get notified when things like this happen moves like this where we’re watching it not only from a technical analysis perspective but a news perspective the next couple of

Weeks in crypto are going to be in in they’re going to be insane so I’m I’m anticipating more volatility but everybody appreciate each and every one of you I’ll see you in the next video shout out to my daughter for these these boss stickers look at that have an awesome

Day everybody God bless