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Crypto kids welcome back to another live stream today it’s going to be incredibly important because why we’re to be going through what exactly happened today as you guys know Bitcoin had a drastic fall all the way from $45,500 down to $40,000 on some exchanges now there is a

Wide speculation on why this is happening including the um the report from I believe it it was called what was it maxi report if we just have a quick look at it it’s not because of that right it’s not because of that that’s the common miscon Mis misconception

There are multiple factors that we need to discuss into why this dump is happening overall so if you’re on YouTube or or watching it live on Twitter make sure to leave a like on this stream I don’t know how it exactly works on Twitter but uh if you can leave

A like subscribe turn on the notification Bell that would be very much appreciated it is a school night tonight I’m not planning on staying up too long otherwise um I’ll probably not end up waking up for school but we will go through everything that we need to

Discuss today so let’s start off right we have this trade going on by the way on bitflex right now uh if if you are a long-term viewer of the channel you would already know that we had active limit long positions over on bitcoin and as you can see we have an entry entry

Price on this position at $4,560 which is incredible we basically bought almost the bottom uh and it’s fantastic currently in 76% profits and guys if you are looking for a place to trade Bitcoin or cryptocurrencies you can head over to the description of this video or live stream depending on when

You’re watching it and sign up to bit flex using this link to now get up to 88,000 and $888 worth in prizes and bonuses but let’s jump into why this dump is happening are you guys ready guys just in my Uber driver said he heard from his uncle’s best friend

That the Bitcoin spot ETF may get denied this is why Bitcoin is dumping to $40,000 but no of course guys of course this is not the reason why Bitcoin is falling this is not the reason why Bitcoin is falling of course uh if you can let me know in the comment section

By the way if the stream is good if everything is good um can you hear me all right that would be very much appreciated but no guys this is not the reason why Bitcoin is falling uh don’t worry about it the reason why Bitcoin is

Falling is due to this well this is the common misconception people think that due to the Matrix Port which is an in independent journalist organization I think they’re they do journalism primarily they do insights into Bitcoin and what’s happening kind of they’re not super popular but they think that um

Bitcoin uh well Bitcoin spot ETFs are not going to be approved and this was just a normal article a normal inside report published and as I said they’re not followed by too many people uh and this is just not not the reason why Bitcoin is dump or has dumped overall

The the reason is not this the reason for the actual dump that has occurred over the past couple of hours is due to the funding rates now we’ve discussed the funding rates and how high they were um in many videos now uh and the funding

Rates as you can see now shifted to some are in the negative even so we’ve we’ve seen a massive shift from incredibly High funding rates to now negative funding rates and how does this impact the price of Bitcoin we’ll get to in a sec including a lot of technical

Analysis but just to cover this right so Matrix Port is an independent organization they provide insights into what’s happening with Bitcoin and cryptocurrencies and well they they they posted this article or Insight report saying that the ETFs are not going to get approved and what the entire crypto

Community did was they blamed the the dump on this particular report but the truth is the reason for the dump is not because of this report the reason for the dump is number one due to the funding rates because as the funding rates increase towards the upside it

Becomes more expensive to Long position holders to maintain their long positions and Additionally the retail fomo now I’m going to you know when you scroll your phone on Apple you see the Apple news right you scroll your phone you see the top headlines Bitcoin is pumping you go

To market watch you go to CNBC Bitcoin is pumping Bitcoin is back to $45,000 again oh our targets for Bitcoin are now $200,000 it’s that’s the that’s the um you know it’s that’s that’s the thing that’s going going on mainstream media is foming again once again they’re

Foming they’re saying that um the volume is low let’s let’s try and increasing the volume volume I think the volume is low so if I maybe bring my laptop a bit closer that should help so I hope that’s fine I hope the volume is a bit better

Now but what’s been going on is that the mainstream media have been hyping up Bitcoin so much now it’s actually crazy it is it is actually crazy and everybody’s asking was the ETF approved no it’s not been approved this is the common misconception it’s not been approved or it’s not been denied this

Was just an article posted by a you know a low-key independent organization and um I think they were just pinned pinned the blame the blame for the actual dump itself so look at this right they even posted a daily Insight on the second of January saying Bitcoin spot ETF approval

Imminent Bitcoin will jump to $50,000 and guess what immediately a day after you can see that or not even a day after just a couple of hours after they said that the SEC will reject the Bitcoin spot ETFs once again um so that was the kind of organization that was posting

These and I think it’s very wrong to blame them for the actual um dump itself and guys by the way I did put my stop loss to just over break even here um if you guys are wondering what’s happening with my trade but we’re still currently

In 76% profits so as I was saying the re the real reason for the dump that we had on bitcoin was due to the funding rates now the funding rates actually went all the way up to 0.1% and just to put it on the um just

The just to put it on perspective if you have let’s say a$1 th000 position if you had a $1,000 long position basically every 8 hours or so you would be paying 0.1% of that total total trade so the $11,000 in in terms of unrealized losses so you’d be paying approximately

Approximately you would be paying about um per day like 20 to $25 on a $11,000 trade that doesn’t sound much but if you have a $10,000 trade that’s like $25 $300 $100,000 trade that’s like $2,500 to $3,000 that’s the difference that’s why the funding rates are super super super

Important and um remember it’s from The Leverage sum you’re not paying the funding rates from the initial margin that you put in so let’s say you did uh $1,000 with 10x leverage you’re not doing the $1,000 you’re not paying 0.1% from the $1,000 you’re paying it from

The $110,000 and that’s why the markets they were forced they were forced to close their long positions and that’s why we saw this dump and this correction towards the downside now shortly we will dump into the TA what I expect will happen to Bitcoin in the upcoming hours

And days we’re still actually in this ascending triangle and as you can see on the thumbnail itself we have the ascending triangle on the actual thumbnail I’ll I’ll get into what I think will happen there Bitcoin is currently at very important support um and we just have a lot of charts to

Cover this prediction on what I thought will will happen um during this 48 hour period where we had rumors that the SEC would notify U the Bitcoin spot ETF issuers whether they’re approved or not I I I I I mentioned that Bitcoin while coming up to it we could hit 47 46,000

We had 40 4 45.5k was the top which was the target of this the first Target of this parallel Channel and then we could move down potentially to even $38,000 I’m I’m going to mention if um I think this is still valid on this live stream

So make sure to watch until the end and make sure to stay tuned Until the End um I said that already make sure to leave a like subscribe if you haven’t already that would be very much appreciated but going back into the breaking news what else do we have what else caused this

Dump towards the downside and what is all the speculation regarding ETFs is it going to be approved when is it going to be approved when do we need to look out for and what’s actually going to happen to the market well there’s been two massive players in the ETF space on

Twitter currently we’ve had um Eric balunas and there is another guy and these two guys have been the saviors right now on Twitter telling us everything that is going on um in the space on when’s When’s going to happen when the ETFs are going to happen when

They’re going to get approved Etc and these two individuals are the people that I trust the most right now regarding ETF information so everybody’s been tagging um you know regarding this report if it’s true if it’s not and um Eric has been saying here that we have heard nothing to indicate anything but

Approval but I want to give the guy benefit of the doubt so I’m asking if he has any sources or if he’s just speculating he seems to be Bitcoin Bull and recently tweeted executiv said approve approval likely so unsure why he flipped this was the main question look

Over here they said literally like within a matter of hours they said the Bitcoin spot ETF approval is imminent and Bitcoin can jump to $50,000 and then just a couple of hours after they say why the ACC will reject the Bitcoin spot ETFs again so that was the main question

But we did Cover why this is not the actual reason for the dump and it’s kind of pinpointed to them a bit unfairly it’s it’s it’s more to do with technical analysis at the moment rather than the fundamental analysis itself and um that’s basically it that was the report

That supposedly CS the dump towards the Downs side um and the owner of the or organiz organization uh themselves right so uh I think his name is Jihan so Jihan actually posted this tweet to reply back to everybody saying um The Matrix report was the reason why Bitcoin fell towards

The downside and U he explains here that they’re you know an independent organization and um they’re just expressing their own opinions and Views without any influence or interference from management Etc and you can see here that it only has like 161 likes and just from this you can tell that this is not

The reason why Bitcoin saw the dump towards the downside and it’s more based on the funding rates itself and that the market was a bit ovov exhausted and required a retracement back down so I did some research so it’s been 4 hours four to 5 hours since I posted this

Video here um just doing an emergency update on what I’m doing with my trades and an emergency technical analysis update um and since the past four or five hours I’ve been just researching why this dump has been happening and what can we expect next coming up

Towards the ETF approvals and after so I did some digging on Wu Jian the person behind Matrix report and um he’s actually also the co-founder of bitmain now bitmain is a massive blockchain Mining Company primarily based in actually the United Arab remits so it is a pretty prestigious I would say

Prestigious Mining Company um and I just think it’s been a bit unfortunate that um the analysts have made a good prediction and a bad prediction at the exact same day just with a couple of hours in between them uh but honestly the dump has not been happening because

Of that but because of this so you can see here that the open interest was Mo mooning with historically High funding rates to be long 66% annualized yesterday and we just saw $500 million in liquidations and 95% of them were Longs in under an hour um and that Deens

Were basically going to Deen so we had massive liquidations we had the funding rates at massive basically near all-time highs and that’s why the Bitcoin price dropped towards the downside but another another reason why I believe the Bitcoin price actually um began to drop was because of Michael sailor so just a

Couple of hours ago Michael sailor released on the SEC report that he would dump around $215 million in uh the company’s shares and this would be the most that he has sold ever in micro strategies history now as we can see on the micro strategy

Price and a shout out to Carl by the way thank you for watching the stream very much appreciated we can see that micro strategy has dumped almost by 8% in the last 24 hours and the reason for this is of course the price of Bitcoin in previous streams and in previous videos

I mentioned why actually buying micro strategy stock may be a better idea than buying the actual Bitcoin ETFs because micro strategy in the long term has the only mission of accumulating more Bitcoin so technically uh to your dollar your dollar that you put into the micro strategy stock or the same dollar that

You put into the ETFs the ratio of how much Bitcoin you get compared to the dollar you pay for the asset is way higher when you buy micro strategy but this makes me concerned this actually does make me concerned that he’s selling 200 $16 Million worth of the company’s

Shares now if I were Michael sailor what would have I done would have I sold uh 315,000 of the company’s shares from his total uh of 12.5 million I believe of his outstanding shares what have I done it personally it it is a good time to

Take profit look in all honesty it is a good time to be taking some profit off of the table he’s not doing this he’s not selling Bitcoin he’s selling shares of his own company so don’t fall into that misconception and the reason why he’s probably doing this is because

We’ve started the new fiscal we’re we’re we’re close to starting the new fiscal year and it may be due to you know tax you know he wants to uh you know pay off tax or he has individual payments to make so there there could be a dozen different things that he’s actually uh

Selling his micro strategy shares too it’s not because he’s bearish on bitcoin it’s because he may need the capital to pay off other things which is completely normal so the pump so the dump may be a misconception that micro that Michael sailor is actually selling his Bitcoin rather he’s selling his own company’s

Shares that doesn’t impact the price of Bitcoin at all so that’s something that I also wanted to clear up but I think the main reason well this is not the main reason I think it’s a beautiful coincidence but uh Jim Kramer just two days ago in fact yesterday he

Said so he said that um I’m not going to turn the volume now it’s not the highest of quality the video but he said that um Bitcoin is here to stay and nobody’s going to kill it that was the main gist of what he said on CNBC line live and if

We have a look at Jim Kramer’s history of what he said for Bitcoin what he’s expected to expected for Bitcoin the exact inverse has happened on the Bitcoin price and I actually mentioned here literally yesterday well I guess it’s a time to sell and guess what uh literally 24 hours after not even

Bitcoin dumped by 6.5% of course I said it I said it as a joke but it’s just scary how uh how accurate this guy is in terms of predicting the Bitcoin price in the exact opposite direction so uh look he said back in um back in 2022 expresses skepticism about bitcoin’s

Future uh suggests exploring other Investments Bitcoin is at 22.1k look fair enough we fell from 22.1 all the way to 16.9 then in December 5th he strongly urges viewers to sell all of his crypto Holdings including Bitcoin post the FTX collapse and we were basically at the bottom at

$16,900 but I’ll give it to him right since June to December we did full right I’ll give that to him but after December the exact bottom when he tells people to sell at 16.9k all Bitcoin does is go up look January 10th he says that he’s uh

Still has a bearish view on bitcoin due to regulatory concerns and macroeconomic factors Bitcoin is up approximately a couple hundred dollars since then April 2023 suggests Bitcoin could fall further and advisees against buying now at this point we’re basically double the price of Bitcoin already right Bitcoin is

Already doubled in value and guess what November 21st of last year he takes a neutral stance he says that you know what if you like Bitcoin just buy Bitcoin at this point in time we’re at $35,790 and not even 25 24 hours later Bitcoin Falls by 5K I think it’s just

Funny and um you know what if inverse Kramer ETF was a thing I would be putting all of my money into it now we’ve been seeing from Fox fo business this journalist at Fox Business that the SEC is very unpredictable and they may surprise us with an approval of the ETFs

Tomorrow but look we’ve had Eric which I mentioned earlier on in the Stream is the guy to look out for when commenting on when the ETFs are going to get approved when is the launch Windows Etc that’s the guy that everybody’s been following and he’s directly a journalist

For Bloomberg he’s in fact an analyst at Bloomberg and we can see here that she’s also mentioned that the SEC is holding meetings today with the exchanges NASDAQ CBOE and the New York Stock Exchange to finalize comments on the 19 b4s submitted by the Bitcoin spot ETF

Issuers today now um you can see here that his comments were things you probably don’t do if you’re going to den to deny or delay all right so hearing similar by the way and why why when we see okay so I I guess his English is not

The best but he’s saying that the final updates role uh that okay I can’t speak he says that the final updates that have rolled in is a sign of approval being imminent as the SEC has been doing doing back and forth forth with issuers offline to perfect their 19 b4s vs uh

Doing numerous refiling okay he needs to maybe go back and um go back on his English but uh in summary uh it’s not something that you do when you want to approve or deny an ETF rather it’s something that you do I don’t know what he says there look I

Think we just got to stick to the approval window I think uh James James is the other guy I completely agree with him let’s let’s ignore the noise Let’s ignore Fox Business let’s let’s even ignore Eric at this point um let’s go to James and James is saying that the

Original Bitcoin ETF approval window is between the 8th to 10th of January and that’s been the window that everybody’s been watching that’s been the official window for such a long time now and we still have another 5 to 7 days for the approval window to be closed opened and

Closed and this is the time where we want to be concentrating so if we see yes Bitcoin is Bitcoin spot ETFs are going to be on the market next week uh on the 8th of January and that’s the news that’s been circulating around from trustable sources on Twitter on mainstream media

Outlets then we can say okay the spa ETFs are approved and they’re ready to go if they say no we’re going to delay it another time or if they say it’s very unlikely that they say oh no it’s not going to happen but if they want to

Delay it again that’s also the time period that we’ll be looking out for so everything that you hear from now until the 8th to the 10th of January it’s um it’s not 100% accurate that’s what we can tell a to 10th of January is going to be the most important time frame that

We look out for whether if a Bitcoin spot ETF or the total ETFs as a collective is approved or not so that’s the uh another update that’s the latest update that we have with the current bitcoin spot ETFs we also have Jason saying that black rock is reportedly

Planning to acquire $10 million worth of bitcoin which we’ve mentioned in previous videos already today was the day that they were going to seed publicly $10 million worth of bitcoin um meaning that they’re basically going to buy up from the market uh 10 million uh BTC to add it to their basket of

Holdings quick water break this room is so hot I wish I turned on the AC but I was um I was worried that the microphone was was going to pick it up uh but anyways so this was the initial funding but of course we know that in the macro time

Frame um black rock and all of these ETF guys have been buying up Bitcoin for months and months and months and weeks and weeks and weeks uh of course they’re not going to announce exactly when they’re buy buying it or when they’re selling it uh because that would create too much Market volatility

However we know for a fact that today they’re going to be buying $10 million worth of bitcoin James then goes on to say oh we’re we got a two ahead there um that is a little bit of a teaser of what we’ll get into next uh he said that

Reportedly this purchase may be delayed until the January 5th so that’s in two days so look it’s not a big deal when they buy $10 million worth of bitcoin Bitcoin is at a point as a as an asset where $10 million is not going to even

Move the price almost at all so it’s just bullish that black rock is buying of course that’s the entire narrative behind it not the actual sum of Bitcoin that they’re purchasing but that black rock is buying Bitcoin publicly so it doesn’t really matter if they’re going

To end up buying it today or in two days it’s going to be the same deal uh ladies and gents before we continue any further we just need to wish Bitcoin a a very happy 15th birthday today Bitcoin turned 15 and I know I’m 16 years old so I’m

Basically one that’s how I remember it I’m one year older than Bitcoin and we can we can see here in January 3rd of um now it’s I think it was 0 right so 2000 no sorry 2009 we had the Genesis block mined on bitcoin and this was the first

Ever Bitcoin block up Mind by Satoshi Nakamoto himself so a very very happy birthday to bitcoin and wishing it many many more years ahead uh and this is just something that I wanted to mention because this is one of the most important onchain data that we need to

Be considering right now so the amount of short-term and long-term holders accumulating in the market is at a at a very critical point because you can see at this point over here this final bit in the chart both short-term and long-term holders are buying a Bitcoin and this is something that doesn’t

Happen a lot so this happens when both long-term investors believe that bitcoin’s price will of course go higher in the future and they think that even though the price is increasing it’s still a good idea to be buying due to the fact that price may increase even

More than where we’re at right now and shortterm buyers of course want to take advantage of the current volatility now when both of these guys buy at the same time it’s usually a very good sign because both individuals are not planning on selling because what happens is short-term sell short-term buyers

Sell and long-term buyers accumulate and then the vice versa happens but when both end up buying including the ETF holders including institutional um you know institutional um you know Financial corporations when they also end up buying there’s just too much demand for Bitcoin and coming up towards a Hing

When there’s going to be a drastic cut in Supply in the market daily available bit coin in the market there’s going to be a massive Supply shortage and once you look at fundamental economics when there’s a shortage in Supply and an excess in demand the price of an asset

Should go up there’s also something called the network effect which I definitely reading recommend reading um on I think it was on Harvard or Wharton it was one of the uh two universities they they they wrote a piece on the network effect and in summary It’s when um individuals use a particular service

Or product and due to the inflow of people actually using using the good the price of it increases so think of it as um as more people use Bitcoin on daily transactions the price of Bitcoin should also hypothetically increase towards the upside and with that happening as the

United States has reached a $34 trillion National that a record um I think many many uh countries around the world are going to go in economic pressure in this year in particular in 2024 and as we know whenever this happens uh Bitcoin does the tend to see a price move

Towards the upside we’ve already seen massive economies like Argentina start using Bitcoin as legal tender in certain certain places in government and um I just think that this is going to get bigger bigger and bigger we’re going to see more and more countries adopting Bitcoin millions and millions of people

Using Bitcoin um and wow that was a very big wick towards wow we we came down to $41,600 and then we just bounced back to 42.2k bitcoin is having a wild one honestly I’ve not seen Bitcoin do uh such things in terms of a super short

Amount of time like go decrease by um so much for 7% and then go up by 7% it’s been a while like we’ve been in a very choppy market for the past month or so and in crypto years that’s like year that’s like years right so in crypto

Years that’s years a month is a lot in crypto honestly it feels like this consolidation phase has been going on for at least like two years of my life but um yeah Bitcoin is back to those volatile times and as Traders it’s beautiful because the worst time in

Crypto is when you’re just going going sideways there’s no volume in the market there’s nothing happening and when that does happen it’s just very boring so whether Bitcoin goes down or up it’s fine of course we prefer Bitcoin going up but going down is also better than

Going in a sideways Market just so that we can trade it uh and just to reiterate I do have my stop loss at break even just over break even so if Bitcoin does decide to close this Wick here I will be out of this trade and looking to buy

Bitcoin for cheaper now going into uh some of the final news and then we’ll jump into just pure technical analysis say uh the usdc price the price of usdc over over on binance fell down to 0.76 uh compared to usdt and this was pretty big I mean look at that we fallen

Down like crazy so the price of usdc dep pegged uh at a tremendous rate over on binance and when I checked it with buit we can see that on buit it only went down to 97 so there’s nothing to panic about usdc isn’t going anywhere this

Could just be a bug on the charts which usually happens on binance we’ve seen it a lot even on Bitcoin um so I wouldn’t worry about it too much but it’s just something that I wanted to point out in case you were wondering why usdc DPed against

Usdt and uh finally guys this was the last time uh that we saw the dpeg it was back in I believe it was back in the FTX days it’s it’s been a while now uh we can see over on the liquidity heat map that Bitcoin has the largest amount of liquidity now at

$334,000 as you guys know I’ve been mentioning at 34k Bitcoin has approximately 4. 5 billion in liquidation leverage but this sum has increased to $5 billion and historically speaking Bitcoin likes to move to areas where there is a lot of liquidity for example 44.6k which was the exact target

We put for Bitcoin once we broke out of the descending broadening wedge just a couple of days ago so if I switch into the trading view chart right now we can see that the target for this um descending broadening wedge if you go back on previous videos too was uh

44.6 I think it’s on my other chart so if I just go to uh the chart where we had the predictions for what’s going to happen to bitcoin coming up and towards the ETF approvals and after it uh over here I put 44.6k because we had 4 billion in

Liquidations and I mentioned that Bitcoin would likely hit it see a wick towards the upside just over it and then see a dump back down so far we’re playing this scenario exactly and 38k is the next level of support before coming down potentially to $34,000 where there

Is now not 4.5 billion in liquidations but F 5 billion in liquidations that’s $500 million higher which is a tremendous increase um it may not sound like a lot but for an asset like Bitcoin with a market cap of $800 billion that is a lot of money and um it is surely

Enough to attract Bitcoin back to that price however I definitely think so that Bitcoin if we fall down to 34k once again that would be the last time that we see the 30s ever for Bitcoin again like we’re we’re not going to hit the the 30k range um in many many years

Because if we go to the parabolas and the different Bitcoin haling Cycles you can see that in each cycle Bitcoin has this parabolic increase up and we never end up breaking the parabola towards the downside we only broke it once and this was during the co uh covid situation and

That was just an external factor that nobody could have predicted but other than that Bitcoin is pretty much within this Parabola until we go past the all-time high make a higher high and then you see a drop towards the downside so if you’re asking what is my target

For the end of this bull market well it’s going to be 90 to $95,000 and um are we going to see a more significant reversal well it’s possible right so towards a 34k level but after that Bitcoin uh will go above the oldtime high we will touch the logarithmic curve which is approximately

Just in the middle of the range that I mentioned at $992,500 and if we manage to break Above This logarithmic curve then Bitcoin will enter into a super cycle now if we enter into a super cycle then it’s possible to go up to a million dollar it’s going to

Be possible the question is is it going to be happening in this cycle or the next one well theoretically if we just approach it from technical analysis perspective it would be very likely that Bitcoin does it in this cycle once we look at the 12-month chart so each of

These candles represent one year we can see that uh Bitcoin goes up for four candles uh from on on its first ever bull cycle then we see a drop by one red candle after seeing the drop Bitcoin goes up by three green candles sees one red decline another three candle

Increase and a one red decline now what what you could assume here is that Bitcoin will have two higher candles and if Bitcoin does end up following the structure then we would be breaking this logarithmic curve and Bitcoin can see a um a 1,000% increase to a million do I

Think it’s possible but it will all dep depend on breaking Above This 92 $2,500 level I will be taking profits at 92.5k don’t get me wrong but I’m not going to be taking 100% profits maybe 30% profits leaving the 70k 70% in and waiting to see if Bitcoin will able to touch a

Million dollars and if we do that is ladies and gents the time to sell I am telling you this of course nothing this stream is financial advice but if Bitcoin is at a million dollars not taking profit that would probably be a mistake going into ethereum ethereum is

Having a beautiful test back to this line of resistance once again and I honestly think with the correct amount of volume and if Bitcoin look if we see a drop to 34k of course ethereum is also going to see a drop towards the downside but if ethereum is managing to hold this

Line of resistance previous resistance then we may see ethereum reaching 3,500 not in too long um duration of a time as you guys know in every cycle Capital flows from Bitcoin to ethereum and then into altcoins and if we follow the exact same structure in this cycle

Then I think 3.5k for ethereum is very much possible and this is a trade that I have set up uh which I’ve not actually put in the order yat on bitflex it could be something that we do on the stream now but I want to hear from you do you

Think ethereum can hit $3,500 or do you think it is something that won’t actually happen let me know in the comments section what do you guys think and I am going to look at your comments now so it would be amazing if we can hit

200 likes on this stream uh it is a school night it’s 11:00 p.m. currently to wake up at 6:00 a.m. to go to school but I am bringing this stream to you in this incredibly hot room for some reason cuz I forgot to turn on the air

Conditioning so a like would be very much appreciated if we can hit 200 likes that would be fabulous uh but just going through the news again for everybody’s just that that’s just joining in to the stream uh the reason for the dump towards the downside is not because of

Um not because of this Matrix report due to you know the Bitcoin spot ETF is not getting approved no it’s because that my Uber driver said that he heard from his uncle’s best friend that the spot Bitcoin ETFs may get may get denied no

This is of course a joke this was a very funny joke when we first open up the stream now it’s not too funny anymore because it’s kind of dead but yeah I just thought I would try my luck with it once more but moving on um yeah as you

Can see it’s not too accurate they’ve posted literally with a 2hour gap only approximately that the Bitcoin spot etf’s approval were imminent and then that Bitcoin would jump to $50,000 and shortly after they post a report saying why the SEC will reject the Bitcoin spot ETFs again and uh it’s just not the

Reason why we’ve seen the dump due to them not being actually that influent influential in the crypto space they not many people follow them so that them specifically did not cause the dump rather we saw the funding rates which were at extreme highs for Bitcoin causing long positions to uh well end up

Closing their positions because it was going into the negative now it started going into the negative and that’s why we saw long positions closing and the market seeing reversal back down now the funding rates look much much much more healthier we can see even over on okx

Now the funding rates are negative so now you’re profiting immediately when you open a long position this was not the case just a couple of hours ago so that was what we looked at at the beginning of the stream then we went into when the ETFs are really going to

Get approved and this is going to be between the 8th to the 10th of January that’s the window that we need to stay stay stay put to because that was the official window that was basically announced just a couple of months back so if we get the news that Bitcoin is

Going to have its ETFs approved on the 8th to 10th of January then I will trust it more than whatever is going on right now uh but if we see something else um coming up before this then I will approach it with skepticism and uh do do

My own research first just like I did before this live stream to bring the correct information to you um but yeah 8th to 10th of January is the point to be on the lookout for Michael sailor um has well the news has been going around saying that Michael sailor is selling

His Bitcoin that’s not the the fact Michael sailor is selling $260 million of his company’s shares not Bitcoin of course it’s not amazing but it’s not Bitcoin and that’s the common misconception so if you think that micro Michael sailor is selling his Bitcoin it’s wrong he’s selling micro strategy

Shares which I think is a good move from him uh because in my opinion it is a good time to be taking profits I mean if you look at the micro strategy stock we’ve not been at these levels ever since um 2021 and this company may have the requirement to pay taxes or

Bills whatever and he can very easily do this now by taking profit and of course use that Capital to pay off whatever he needs to but we are down by 8.5% in the macro scale I definitely think it would be wiser personally to buy micro strategy shares compared to buying

Bitcoin spot ETFs because you get more Bitcoin per dollar that you spend on the share itself so I am in the longterm more bullish on micro strategy shares compared to the Bitcoin spot ETFs so that’s what we got into we also talked about the inverse Kramer ETF and how it

Works like a charm because in um well in Jim Kramer’s history he’s been wrong absolutely wrong every single time and whenever he says something other than June 14th of 2022 where you got lucky once uh Bitcoin has done the exact opposite thing and that’s what happened just yesterday he was saying that uh

Well Bitcoin it’s it’s a time that you know it’s it’s going to stay and it’s not nothing’s going to kill Bitcoin and he says this and immediately after we see a 5,000 drop towards the downside and that was just the beauty of the inverse Kramer ETF um it’s definitely

Not a reason for why we actually have the pump dump he’s just an unlucky man that’s what I would say he’s an unlucky man when it comes to bitcoin uh but that’s it that’s basically all the news that we got over uh in the Stream and we

Kind of covered exactly why stuff is happening and what we should not be scared of and what we should be on the lookout for bitcoin’s birthday is also today it’s turning 15 so a very happy birthday to bitcoin you usdc had a brief uh dpeg over on binance but I do think

That this is a mistake on the chart itself I don’t think that Bitcoin actually dropped that much because if we go into buybit we can see that usdc did have a dpeg but only to 97 cents compared to the 76 um dpeg over on binance uh but the next level of massive

Liquidations for Bitcoin is sitting at the $34,000 level which is why if the ETFs are both approved or denied it is very possible that Bitcoin sees a reversal back to the 34k level and then sees a continuation of its pump uh coming up towards the Hing because that

Would just be the very healthy thing to do in my opinion and so far this chart is playing exactly how we discussed and a brief comparison also to the 2017 Bitcoin CME launch which was the first ever Financial instrument that enabled institutional investors to get exposure

Into bit Bitcoin we saw the launch in Bitcoin dumped by 70% towards the downside I do not think Bitcoin will dump 70% because we saw a 20 20% increase in this scenario so in relative to that I think a dump 234k is possible and it would be healthy to keep us going

Back towards the all-time highs and even past 90 to $95,000 and just in case Bitcoin does end up moving higher from here because we’re still in technically a bullish pennant on the weekly time frame maybe not on the daily or 4 hourly time frames but on the weekly time frame Bitcoin is

Still in a bullish pennant like so so if I switch over to the weekly chart you can see that Bitcoin you can still say is forming a bullish pennant here which is why we’re in this s position that we entered at $4 4,570 it’s at currently 70% profits

Which is amazing I have my stop loss just over break even uh in case Bitcoin does decide to have a further reversal down and if you do want to be trading Bitcoin and cryptocurrencies you can head over to the description below to now get up to $888,888 worth in prizes and bonuses

Once you sign up to this link here uh to trade on bitflex and if you don’t know how to trade and don’t know how to set orders or how an exchange over overall works I would definitely recommend checking out this video because it was something that was super hard for me to

Learn when I first started my crypto Journey too so I prepared this super simple easy video to learn how to trade how everything works and you can check it out it’s 10 minutes long so it won’t take too much of your time but will definitely add a lot of value um in

Terms of um your Roi on the YouTube video the average YouTube video that you watch now what I wanted to also get into was the fomc meeting minutes that was announced well just 10 minutes ago and let’s see how it turned out I think it

Was um let’s see I think we can uh we can have a look at this this is the latest news so 8 minutes ago fomc uh minutes the participants viewed policy rate as likely at or near its peak all officials said clear progress made in 2023 towards fed’s 2% inflation Target

FC minutes officials judged that GDP growth would be cool labor market rebalancing would Sophie press show more we can see the entire tweet here this is the complete summary of the fomc minutes itself let’s leave it Alik we can see that the rebalancing would continue in 2024 officials viewed risks

To inflation employment moving toward greater balance most participants expected restrictive policy STS to continue to soften spending and reduce inflation so this is quite bearish actually this is a very very bearish mon monetary um sorry it’s a very bearish uh fomc minutes report and it could cause

Well let’s see what it’s doing right now is the S&P falling yes baby it is falling and if you remember we were mentioning couple of videos ago like I think in the every single video since the past week we’ve been saying that the S&P is due for a reversal this is a

Candle that indicates reversals towards the downside the MRI had a top and an extension C which basically means that the price is overextended in momentum and that a drop is imminent the stochastic was crossing bearish and man I just wish I could short the S&P 500

Because I think it would be an amazing trade personally I don’t think 2024 is going to be too good for the stock market overall but that’s what Bitcoin Co is doing in terms of the fundamental analysis jumping back into the TA what we can see here of course now this

Descending broadening wedge is no longer valid and we can get rid of it and uh and see what what what new is happening it’s not too easy to um draw any pattern now with this uh with all of these red candles but we do have a very important

Lines of support which we can see here and it’s being held we can see it’s being held and that’s that’s a very bullish sign if we draw a line of resistance right we can extend it all the way there and now we have kind of an ascending uh ascending parallel Channel

If you want to call it and we’re now at the support so it could be a good time to open a long position and trade it back to the $45,500 area but I need to make this disclosure I need to make this warning it is going to be an incredible

Volatile time with the Bitcoin ETFs if we see an approval there’s a chance we dump right there’s still a strong chance we dump if we don’t see an approval there’s a definite chance that we dump uh I think I think the dumping scenario is more likely than the pumping scenario

If we see the approval just because of the reason that in these past couple of months the only reason why we’ve been expecting volatility at all has been from the same hype around the same news of the ETF so ever since uh June of last year so literally since this candle all

Of this volatility has been fueled by the exact same ETF you know stuff that’s been going on without an actual ETF approval um existing so that’s why a dump towards a downside is possible I’m not denying this this this possibility uh however the monthly the monthly

Candle doesn’t look too good so if we zoom into the Bitcoin price over on the monthly we can see that right now look the month just started so of course it’s not not fair to judge it judge it based off of two days of progress but if this

Candle were to close like this in 28 days which I doubt it will um it is indicating a reversal at the moment and um it is I think it would be healthy since we had 1 2 3 4 now fifth candle in the green um on the on the monthly time

Frame and the last time that this happened for Bitcoin was 1 2 3 4 5 6 so we had six candles towards the upside on the 20202 2021 rally and that led to a let’s see from the open here we pumped by 475 per. and in relative to that we

Dumped by let’s see how much we dumped by we dumped by approximately uh 55% so again nothing 470 per increase and then a 55% dump it’s it’s nothing it’s really healthy uh it’s not too big of a deal so let’s let’s just assume that Bitcoin

Dumps by you know 15% 15% would take us back to the 34k level approximately the 34k level and there we can collect our 5 billion in liquidity and just continue moving towards the upside that would be the extremely healthy scenario for Bitcoin and that is why I do have some

Limit orders placed at $34,000 to be buying up Bitcoin if we ever make it down to that level and um if we do make it down to that level this trade will close in profits and we will end up buying buying Bitcoin I’m going to cancel this

$3995 and wait straight away for this $34,000 trade and if we hit it it would be perfect I think it would be an amazing entry for Bitcoin if we don’t drop and continue pumping from this level here then that is also perfectly fine I will just scale in more to this

Bitcoin position but ladies and gents that is pretty much it for today’s live stream let me know in the comment section do you want me to have a look at any other altcoin other than ethereum and I will definitely go through it so now I’m reading everything now so uh

Let’s see uh wow in Sweden it’s in Sweden it’s um currently well negative 41.6 degrees that is crazy it’s in Dubai it’s like 35 right now so um yeah I don’t know which one I would prefer I think I would prefer the 35 degrees over

The Nega 41.6 to be honest but all the best for unick that does seem like a very tough climate to survive in um let’s see what’s going on yeah I think everybody’s yeah let’s have a look at Medieval Empires because medieval Empires is a game that I’m

Incredibly bullish on and let me see if I can actually open the game live the last time I tried to do this it kind of crashed the Stream So hopefully it’s not going to do this this time around but uh you know what let’s give it a shot let’s

Give it a shot so I’m currently running the game in the background and um if it opens up it’s going to be perfect then I can have a look into my favorite game f game at the moment it’s super addictive and I’m trying to level up to town 13

Super close and I sent an invite to everyone that won the giveaway by the way but nobody’s joined so far which is you know I think you’re missing out I would I would definitely join for free uh if I had the opportunity to and then we can play along together on my land

Over on medieval Empires but there we go now it has loaded up so let me see if it’s going to work please work I think it’s going to oh there we go there we go so we loaded up Medi lires nice My Heroes just finished their training

Let’s go let’s go that’s awesome so now we have higher here Heroes to actually lead our armies and we can do more damage when fighting against Invaders that’s amazing but if I go zoom out to the world map you can see that I actually invited so many of you but only

One of you guys uh joined I will give this guy a massive massive shout out Jean dreb dude massive shout out uh you are a legend for joining the land if you leave me your uid for the medieval Empires for your medieval Empires account on this live stream I will also

Add you to the remainder of this land and uh then we can play together it would be awesome to kind of a competition together as the crypto Kid Squad but guys that is uh pretty much it for the Bitcoin update I am incredibly

Late to go to bed I do not know how I will wake up tomorrow morning for school uh maybe I’ll have a look at xrp you know what everybody’s saying xrp let’s have a look at xrp and then we’ll end it off so if I jump into the charts once

More we can go to the chart of xrp uh instead of ethereum here xrp usdt see what’s going on there what is the damage okay it’s not not terrible damage to be honest with you it’s not too crazy and as a matter of fact we’re still in this

Cup and handle pattern for um xrp oh no I lost it xrp usdt let’s go back binance binance binance binance if we get rid of this cup and we get rid of this handle because it’s no longer valid we still are in this cup and handle pattern

Because this is the kind of handle of it right so we can see the handle there and we can see the cup and if we break out of this line of resistance at approximately 65 uh cents we can pump to let me just uh let me just do some ta

Over here and give you the target boom wow this is crazy ta this is the type of ta that you see on Wall Street you know all all of those Wall Street movies where uh you know you have all these screens and whatever this is the type of

Ta you’re seeing right now uh we can see that Target is approximately at $1 so that could be an interesting trade for xrp uh I would set it to as my takeprofit at $1 that is a lot of sentimental resistance psychological resistance maybe at even 94 cents would

Be a better um line to take profits so if I open this position breaking out from you know let’s give it the benefit of the doubt let’s let’s say once we break out from 62 cents we may take profit at here at approximately 94 cents that’s going to give us a

51% win and if I put my stop loss there we can even put it tighter if we see the breakout yeah I think here would be cool so basically you’d be risking uh approximately 435 xrp to make 3,00 ,1 193 xrp which I don’t think is bad at

All and uh if you would like to take that trade you can go over to bitflex and trade it too uh there is xrp offered over on bitflex if you just go here you can click xrp and set your trades and uh if you want to sign up you can go to the

Description below and sign up using this link to get up to $888,888 worth in prizes and bonuses and I have exactly the video here on how to redeem $68,000 wor worth of it but if we don’t have any other requests I’m going to end the stream here AAC um Unis swap okay

Look I think let’s go over this in the next video uh but for now I’ll end it off here guys thank you so much for watching this live stream I appreciate all of your attendance um have a beautiful night there’s no need to be afraid even if Bitcoin dumps to $334,000

Tomorrow it is fine it’s okay it’s just going to give us the opportunity to buy up Bitcoin and ALT coins at a cheaper price do not make the mistake from my experience of course not Financial advice from my experience I’ve made the mistake that Bitcoin is going to drop

Further and that’s when I’m going to buy Bitcoin um oh Bitcoin dropped 10% you know what it may drop another 5% so I’ll just wait for that another 5% drop it Bitcoin never does that right we see the drop and then if you if you buy in well

That’s your chance if you don’t buy in then you’ve missed it and if you do end up catching this opportunity just try dcing in and if it works out it works out over the long period of time if you’re not using derivatives Trading if you’re buying up spot then there’s not

Really a way to lose if you believe in Bitcoin in the long run and you believe that it can reach a million dollars Etc then any price that you buy Bitcoin at below 100K is I think a pretty decent price for it but ladies and gents that

Is it for today’s video thank you thank you so much for watching take care everyone and um I will see you all in the next video very soon take care guys have a beautiful night and bye-bye