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This is a dollar this is a Dollar weekly shirt this is what I used to call the top with Bitcoin and I’ve called tops and bottoms along the way using it but this is what I used to call the top back in 2021 when everybody was saying that
There’s no way bitcoin’s ever going below 60,000 again and we’re going to be up at you know before uh December we’re going to be up at over 100,000 and we peaked at 69,000 in November and we crashed and over the next 2 months we crashed by 52% the dollar me well we got
Another ncount Buy Signal on the dollar last week and now it’s being validated you got a hammer and you got a bottoming tail and you got a nine count okay over here you got a gravestone dogee you got a nine count and you got the reversal the dollar has a negative correlation
With Bitcoin and again it’s warning that hey we’re going to see some kind of surge back with the dollar and remember after the July top we saw this okay and then finally Bitcoin bottomed out eventually the dollar came back down and Bitcoin had this rally but
Now you got a bottoming tail you’re you got a big confirmation bar that’s developing here so again maybe maybe the dollar pulls back from this trend line and it gets an inverted hammer or something like that we got a hammer maybe we get an inverted hammer and
Bitcoin gets a rally further but if we start breaking out of the channel this week or next week then that can spell big trouble uh for Bitcoin going forward this is the weekly chart you’re getting a nine count uh Buy Signal so again that means Bitcoin is eventually going to top
Or maybe is trying to top if we get a sell off with disappointment again if the be if the Bitcoin ETF is approved it’s probably going to still think even if the herd is correct on that that it is uh again it’s going to be a sell the
News event and again this is dxy representing the dollar and again here we’re here we’re right at this trend line so I’ll be watching do we clear this trend line you know and we do Bitcoin could eventually get a bigger sell off or do we pull back and fill the
Gap over here and maybe get a 13 Countdown Buy Signal you’ve got up to 12 right here if we pull back and we get 13 you can get a higher low and a higher high and get a breakout and then Bitcoin can tank you know maybe after a rally to
48,000 which again if we get the approval of the the uh coin ETF I think you go to 48 to 50,000 but then I think you think if there if it’s disapproved or delayed then all bets are off if we see the dollar pull back and it’s
Slammed right into the trend line so did the 10year treasury note yield then we may try to get a rally in the market we tra may try to get a rally with Bitcoin and buy a little bit more time if you do that you can get a 13 Countdown Buy
Signal if we see one uh uh bar that closes below the bar from two bars ago so we’ll be watching watching that we got up to Bar 12 got up to Bar 12 and it ended and um account that didn’t play out it ended it got canceled out with
This bar right here so we’ll be watching the dollar closely but again the dollar is eventually going to break out of this channel whether sooner or whether later uh we’re going to break out of this Channel and that’s going to be bad for Bitcoin it’s warning you that a Bitcoin
Top uh is likely uh under construction or developing at this time now my signals have been bull for Bitcoin as I said I called a bottom for Bitcoin back with the Divergence and my signals turned bullish and again my signals have been consistently bullish we talked about some pullbacks uh and I
Was looking for a lower high or a higher high we got the higher high scenario but my signals have remained bullish expect that’s going to change I expect the rally is going to end up failing now going in the sideways consolidation range so again we’ll be watching to see
If we go up further or if we break down going sideways uh if you look here the Blue Line critical mass we’re going sideways if you look at the swing trend line it’s going from green to Red to Green to Red now it’s back to Red so
Again it’s just telling us we’re going sideways okay and even we’re going see the oscillator is going positive you formed uh uh went negative you turned back up and you got a negative diversion it’s positive now but again you’re going sideways so we’ll be looking for resolution up or down uh likely
Depending on the bitcoin news probably uh this weekend is what the you know the consensus is are supposed to be or not this weekend but maybe Thursday or Friday or early next week it is approved again I expect Bitcoin is going to go towards 48,000 maybe 50,000 at the 78.6
SP a if there’s a disappointment if there is a denial if it’s disapproved then again we’ll be looking for a push down but again regardless again I expect bitcoin’s going to end up going a whole lot lower even if it is approved trending candlesticks are just going
Back and forth from red to green and again back and forth just really just showing that Bitcoin is going sideways so again we’ll be looking for resolution up or down depending on the news and if it goes up again I’m looking for that 48,000 area maybe up to the 78.6
Fibonacci if we overshoot the upper channel line to 50,000 but again going to be looking for rejection there and the completion of my C wve I’ll show you that in just a second real fast I just want I’m thinking about I just want to show you again the crypto related
Products they have to do with crypto here’s Mara it has sold off dramatically uh hit a hit a new low trying to Rebound with with the session today seeing warning signs just like with coinbase and I’m just showing you these weekly charts here’s the Bitcoin miners ETF again had a pretty dramatic
Sol again hitting a low and then trying to rebound today so again we’ll see what happens still closed down but it rebounded off the lows we’ll see try to get a rally with Bitcoin Point form divergences or get lower highs or something if we get a rebound back up
With uh an approval of a spot Bitcoin ETF again you’re seeing distribution the Bitcoin miners Mara coinbase uh a lot of the the uh the altcoins are getting it man and some of it with ethereum I’m sorry those uh I just showed you daily charts not weekly charts I said weekly a
Second ago if I did I’m sorry daily charts here’s salana uh again down 3% uh for the session we’re seeing this volatility again like Bitcoin it dropped got a tail doesn’t go up and make a higher high and get a Divergence salana hit the 78.6 Fibonacci and here it is on
The uh weekly chart here again we came right up to the 78.6 Fibonacci of this decline slammed into it and we turned but we saw a down we last week last week we were down nearly 10% 99.67% this week right now we’re down uh 1.69% we were
Down at much lower levels we’ve had a significant drop in salana trying to rebound now we’re getting a candle of indecision in the weekly time frame but again a lot of cryptocurrencies start to get some kind some of this volatility going on now and crypto related instruments like the Bitcoin miners ETF
And Mara and the coinbase IP the coinbase uh uh stock I warned you about coinbase and again that was spilling trouble for crypto it was spilling trouble for Bitcoin and I talked about this a great length of detail before this selling ever began and then we
Ended up forming uh a topping tail in the form of a gravestone dogee that’s now being confirmed and you’re getting an evening uh star reversal type of a pattern in addition to that over the last three weeks here with coinbase and again warned you about the top we’ve now dropped nearly
24% we’ve seen a very sharp decline this week negative diverences that I warned you we’re going to take coinbase lower and again it’s a big warning sign for Bitcoin the Bitcoin is going to go lower has finished peaking maybe it has maybe it goes up a little higher and then
Peaks with by the rumor sell the news 48,000 to 50,000 Bitcoin is likely going to turn down sharply if the the spot Bitcoin ETF gets approved all this money is going these people are not going to want to buy at nose bleed levels they’re going to push it down they’re going to
Liquidate the Moon boys they’re going to liquidate till investors they’re going to tank it and these people are going to be scratching in their heads trying to figure out what happened see a lot of volatility with ethereum again we went up and we hit this trend line right here
Just underneath it I drew a black trend line it was the red lines perfectly parallel with the lower boundary here but I drew the black one and again uh just like Bitcoin maybe maybe it’s hitting this other trend line and we we redraw this one just a little bit taking
It here from this low and this low right here and then we went back up tested that level and then again now you’re getting all this volatility currently a eum at the moment is up half a percent it did the same thing Bitcoin did again a liquidation move you had a triangle we
Had the breakout of the triangle and then again it failed you you you had a break out a back test went back up to those levels and then you you you turned back down but you’re in this trading range the same thing bitcoin’s doing uh
And the the you know the same kind of volatility and liquidation moves are taking place with ethereum I want to talk to you about my 4H hour chart real fast and again here’s the triangle originally we talked about uh again liquidation moves we’ll be talking about
That in this video here maybe we see a Divergence here in the 4-Hour time frame form when we go higher and hit 48 50,000 as I’ve talked about a great length in detail but you came down to the 200 period moving average you drop below it
You found support at your 400 and we ended up holding right at that 200 period moving average here in the 4our time frame in order to go lower here’s a 4H hour chart if I zoom out we got to drop below the 200 and see pring parameter go into the negative region
We’re not there yet we firmed up at the center line so again I’ll be watching the 200 I’ll be watching the pre parameter and again as I’ve said this whole thing could just be part of wave four okay and again if we go higher it’s
Still possible we get a a wave five this could be it it’s a small wave five and and now we turn down that’s possible but I’m looking for wave five to complete wave C and again and I have 1 2 3 four this thing is four and I had marked this
As possibly completing four and five but maybe Four’s over here somewhere and we go higher or maybe three completed right there and this is four right here Elliot wave is speculation okay at best okay so I’m just telling you there’s some different possibilities but I’m looking for a five leg structure to complete
Wave C to complete our ABC move that we’re talking about in this video again if we do go higher uh it would fit very nicely with my wave C completing near 48,000 or so on the bottom because of this Divergence over here and then we
Saw price get above the 200 50 get above the 200 pre parameter validated it we firmed up here and again at the 200 we firmed up and we’ve been in positive territory we recently just firmed up again at the 200 so again until pring parameter goes negative and we are
Dropping below the 200 then we still go higher even though we had the liquidation move the buyers are still in control at the moment but I don’t expect the rally is going to last even if we do go higher mboy oscillator is forming negative diversion up here at extremes
And that’s what we had back at the 2021 top when everybody said we were going to 100,000 that’s like the same stuff they’re saying right now okay everybody’s saying the same thing repeating what their favorite moon boy is saying again complete opposite happened now again let me be clear we called a bottom
With the moon booy oscillator right there just like we called the top in July and the bottom right here you can see that it does a very good job of marking tops and bottoms and again it’s saying a top is developing here but my signals remain bullish but expect that
That’s going to change soon now maybe we reach 48 or 50,000 first but I don’t think that is a newable market I think it is a bare Market rally Great Scott what did you say that is is committing sacrilege in the moonboy cult that will get you tarred and feathered I’ve already been
Banished from the moonboy cult as a heretic because I actually believe prices go up and prices go down uh you got to be uh a gravity denier if you’re in the moono cat you cannot believe that that Bitcoin goes down you can only believe Bitcoin goes up these people
These people are amazing it’s it’s really I’ve never seen anything like it if I just bring that up close it’s trying to roll over here and maybe it does if we get further selling pressure and take out the 50 period moving average but again it could also turn
Back up and you can get some you know choppiness in here uh but it could still go back up and you can still get a nice looking Divergence even if we go back up and again right here we could be seeing these liquidation moves trying to force
Out the weak hands before the approval happens and I told you that very well may be the case I told you they may they may even try to take it down lower uh to uh to liquidate some of the people right in here as we’ve talked about uh that
Didn’t happen but they sure liquidated some of the people in here and uh again there’s going to be more liquidations that happen marking Bitcoin tops and Bitcoin Futures right here again Bitcoin peaked the day before the of the launch on December 17th and we ended up dropping 84% the coinbase IPO Bitcoin
Dropped 55 % coinbase dropped 92% it’s crashing again Bitcoin and it warned of the Bitcoin crash uh the Futures ETF topped right here and we crashed 78% we’re likely going to get if we do get the Bitcoin spot approval uh of the ETF U ETF approved I should say
Uh then uh and it’s likely going to Mark another Bitcoin top in all likelihood just remember again back over here they were telling us it was going to be the Bitcoin Futures that’s all the big money is going to come in we’re going to go to
100,000 not going to be the coinbase IPO everybody’s going to everybody’s going to get in Elon he’s going to be on Saturday Night Live and we’re going to be at 100,000 here we are at 65,000 not and then we rally back up and here we go
We got a breakout that was a fake out ah we’re going to get the move to 100,000 it’s going to be the Bitcoin Futures ETF and and all the money is going to come in not and you’re going to have the same thing the people that tell us this stuff
I mean they’re on a steady diet of hype and hopium better not go down down because I tell you my third favorite moon boy has bet the farm he said he has put everything he owns into Bitcoin it goes down he’s going to be wiped out again my signals remain bullish I
Predicted that we would get a rally my signals are still bullish but I’m also predicting it’s going to fail signals eventually will turn back to bearish again I am a big believer in the 100 period moving average this is one of the reasons why I told you we were going to
Get this rally because we got back above the 100 period That’s this pink line right here when you’re above the 100 period good things are happening okay as long as we hold above the 100 period moving average Bitcoin can continue to rise but when we start dropping back
Below it bad things start happening on bitcoin bad things and again here we had a fake out move above it and then we dropped below it we got rejection at it here you found support at it we went sideways you Dro below it you got back
Above it you Dro below it you went sideways and now you’re above it as long as we hold above the 100 period moving average Bitcoin is positive when it starts dropping below the 100 period moving average then you’ve got problems and it starts going negative today for the Bitcoin
Price it tanked oh sorry wrong place we got another flash crash move on bitcoin and be talking about that I would have posted earlier today but I had something I had to tend to that I could not uh get out of so I apologize I I uh wanted to talk about this flash
Crash move here but this is as soon as I can get to the video again we have this triangle now uh it’s kind of interesting right back to this horizontal support level we had this flash crash down move uh again where we dropped in the 4-Hour time frame price
See it a little bit better in the shorter time frames but we had a a fairly rapid uh drop there again is what you have if you have these liquidation moves going on you’re going to see more of this say this look again you got these people in crypto that are so
Leveraged up the big money comes in these retail people that you know decide that they want to you know go leverage 20 times or 30 times or whatever they want to do and uh you know you get them leveraged up and then it’s very easy the big money just comes in starts selling
And it creates this liquidation why you see these big big liquidations uh in cryptocurrencies because you get these people that get overleveraged it’s bananas that works well are going straight up but when they start having volatility you get these you get these liquidation moves and you get this these big moves down rather
Quickly and that’s what we had over here this was um uh just over an 8 and 1 half% drop over here here and we got a an even bigger liquidation move here I think right around 10% got a bottoming tail and buyers came back in and pushed it
Back up and again the big money is selling and they they do these liquidations the whales Just for kicks Just for Laughs they know that people are leveraged up and they know hey right here this is where everybody’s at in the consolidation they not just wipe a few
Of those people out you know Just for kicks that’s what they do now a little bit more about price and then we’ll talk about the Bitcoin ETF news know everybody’s wanting to talk about that no we had the breakout of our triangle here and again we started to go higher
We got a top and tail sellers came in and then the liquidation happened we saw the reversal for the Tuesday session and then uh we we got the big sell off the Wednesday session on January 3rd now we have the January 4th session the Thursday session the bar going in to
Tomorrow so we had the break out of the triangle and rather than back testing moved back into the trading range of the triangle and again really interesting again you’re hitting this trend line of support spot on right here that’s where we found support lower boundary of our triangle and really scoot the Shadows
Really uh this horizontal support level uh right here if we exclude these Shadows over here so again you’re hitting some support you’re bouncing CU I’m making the video we’re just now starting the Thursday’s session uh we’re currently up. 17% up about $79 for the session that we had the sell
Off on January 3rd we were down 4.68% um and if we just measure the drop from the high with the breakout of the triangle from the peak that formed after the breakout with our topping taal and our sell off down to the low the intraday low uh from the Wednesday
Session it was 99.79% so almost 10% of a drop and now if I just bring up the five minute chart on bitcoin you can see that the bulk of the drop uh that happened occurred over about a 45 minute period or seeing some volatility surrounding speculation on the Bitcoin ETF let’s
Talk about that look at the news a little bit first of all again I want to talk about coinbase we saw um you know another big sharp decline with coinbase I’m warning you that’s a warning sign for for Bitcoin and again we’ve seen it with other crypto products we saw it
With uh Mara we saw it with the uh Bitcoin uh miners ETF and I talked about all this in my last couple of updates we’ve seen the volatility with salana some of the altcoins seen some of the volatility with ethereum as it broke out ahead of Bitcoin we’ve seen the volatility some
Volatility with the uh micro strategy which again is has very large exposure to bitcoin behaves like crypto in these negative divergences on The Daily charts with uh with coinbase and with micro strategy and by the way coinbase might have some problems coinbase might drop dramatically first of all remember back
Back at the first Peak on Bitcoin in 2021 it was going to be coinbase was gonna everybody’s going to just move now into crypto and again the coinbase IPO the initial public offering it marked the very day of the Bitcoin to and the top four coinbase but coinbase could
Have some real problems right now I know it has rallied it’s been a crazy rally unsustainable rally with coinbase over the last 3 days it’s had this dramatic plunge as I predicted before it ever started we told you it was going to happen talking about the coinbase chart before the volatility
Started a couple days ago you it’s warning that Bitcoin is going to have a big crash think about it again why would people need to go to coinbase you know to buy Bitcoin when they can just you know buy the Bitcoin ETF there there’s some some issues there
That might hurt uh coinbase other crypto exchanges now oh they’re going to go and buy you know my favorite altcoin a lot of the big money and traditional investors probably aren’t going to do that again coinbase has got its real some real problems and again we
Predicted uh that it was going to crash it’s now crashing down another 3% today on coinbase yesterday it was down uh 10% the day before that it was 7% I talked about those diversions at the time I told you that again coinbase is predicting something is wrong wrong
Something’s going to happen with Bitcoin that it’s going to go lower now again maybe it rallies back up to the trend line or forms forming a Divergence another reference point or gets a lower high we get a Bitcoin ETF approval which again I’ve told you there are three possibilities nobody wants to consider
These possibilities it’s and again first possibility is that the ETF is denied we’re having volatility with Bitcoin because that’s now being talked about and predicted by the crypto investment service provider uh Matrix Port Matrix Port expects the SEC to reject the applications and they go through the
Reasons why and again this just creates a reason for the whales to sell and create another liquidation move and again I told you you’re going to see these back and forth liquidation moves now again I’ve pointed out to you I don’t have time to show you but the
Whals are not buying they’re selling they’re selling into the rally and we may go higher again what the three possibilities that I’ve talked about the whole thing gets rejected we get a big crypto sell off the other possibility is that it’s postponed and we get it later
In the year they delay it again like they did in the past possibility is that the herd is right and that we get a Bitcoin ETF a spot ETF approved and they’re wrong they’re saying hey we’re going to go to the Moon oh you’re going
To see one big bar I have one moon boy about we’re going to get this massive bar that goes straight up above 69,000 on its way to 100,000 and again the herd the moon boys and their followers they may be right that it gets approved but it if it it if
It does get approved by the end of the week or early next week then it could be buy the rim or sell the news which is more likely the case we still May receive more volatility more liquidation they may push it back up and then they
May drop it again that’s why I showed you that sideways trading range with Bitcoin we’ll be watching which way do we break down from that range do we break up from that range now it’s kind of a rectangle rather than a triangle that’s why I took the time to show you
That trading range on bitcoin it is interesting we came right back to the support levels so this uh this uh speculation by matrix Port uh has rattled the crypto markets now what’s also being reported is that well the SEC is is just doing you know processing paperwork and that’s why you know cuz
Earlier there was speculation that it was going to be done by Tuesday or Wednesday well here we are you know Tuesday and Wednesday have now come and gone now we’re getting the Thursday bar for Bitcoin now now the speculation is well they’re processing the paperwork this takes time and it’ll be approved
Later this week or early next next week possible and again again maybe we get the approval but I’m just telling you again it’s going to be like all the other Bitcoin instruments and if we get the approval it’s going to Mark another Bitcoin top we’re going to S off with
Disappointment that it is delayed or it is denied or you’re going to get it approved and then it’s going to be the B the big rug pull by the Rimer s the news so that’s what I think is going to happen still think Bitcoin if it is
Approved can rise up towards a 48,000 area and hit the upper boundary of my channel which I will show you in a moment this is the news hey no no nothing to worry about it’s just getting delayed you got other articles out there and other news out there with Matrix
Port saying this is the you know going to happen and or they’re saying there’s speculation that again it can’t it may not happen and man if that were the case a I’m just telling you look regardless of whether it is denied delayed or approved uh I still think you’re going
To get a Bitcoin sellup off and a much a bigger decline you know people now say well maybe we pull back a little bit we’re going to go back and test 15,000 and either you’re going to get a higher low or you’re going to take it out and
You’re going to get your lower low in your next bare Market see that in 2024 because recession is coming and we have a Fed pivot that’s going to happen in 2024 which is going to be negative for the stock market and it’s going to be negative for Bitcoin say well we’re an
Election year that’s good for the stock market well there’s a little thing we call 2 08 you had your recession you had your crash that was an election year too there’s another little thing that we had it’s called the pandemic and that was an election year and we saw the markets and
Bitcoin Take a Tumble Bitcoin tumbled 71% over the course of three and a half weeks you know oh it’s an election year bitcoin’s going to be in a newable market we’ve had other election years we’ve seen the market and crypto take a big crash the only reason why we had
That big runup in crypto with Bitcoin stock market is because the FED came in and did QE infinity and beyond and you had the government pass out checks of you know five or six trillion the fed and the government are in no position to do that now start to get in trouble this
Election year which is going to likely be the case so we’re getting a lot of emotion we’re getting a lot of emotion ahead of the possible Bitcoin ETF approval told you before again we could see the whales try to do a liquidation move ahead of the approval of the
Bitcoin ETF remember me telling you that well you’ve now seen it and again whether it’s approved or not and if it is approved they’re doing exactly what I told you would possibly happen they may attempt to do a liquidation move just before the approval of the Bitcoin ETF
Just for kicks Just for Laughs when we get the approval then they’re going to bid to the big rug pool this is just a preview of coming attractions of what’s going to happen then they’re going to get I mean they’re going to get their jollies and again people are selling are
These retail moonboy type investors that are are you know leveraged up these are the people the other the other people that aren’t leveraged up they’re not going to they’re not going to sell for nothing okay but it’s going to be that that you know the herd is not going to
Sell but but the whales and the big money they’re going to sell drive it down and eventually these people are going to be holding Lo losing positions just like people back up at the top at 69,000 and 65,000 and 48,000 going to drive it down finally we’re going to get
Capitulation at a bottom and again you know the the the the conventional wisdom you know the conventional wisdom and again here’s more about the tumble that just happened rounding the B the Bitcoin again it’s just volatility it’s just it’s just the uh whale sill and giving you a preview of coming attractions of
What they’re going to do and you know the The Herd you know do what they always do and they’re just going to say oh don’t sell your Bitcoin to Black Rock and Fidelity we’re likely going to see some kind of top surrounding the Bitcoin approval and the launch of the ATF I
Told you earlier earlier updates that again the launch often happens just a few days later because they’re ready to rock and roll which again the speculation right now in the news media with crypto is that uh Bitcoin uh will get approved a bit a spot bit coin ETF will be approved
And then it will launch next week that’s that’s the uh conventional wisdom right now and again that may be right I’m just telling you if it does get approved it’s going to be by the Rell the news and top immediately we may go a little bit
Higher and go watch my last video I went through the topping process with the Bitcoin future ETF and how it you know it it Peak the day after the launch and then which again could be next week by the 10th possibly that’s the speculation right now but but the Bitcoin Futures
ETF it sold off then it already bounded back up you know so it sold off uh you know the 16% or so and then it rebounded back up and formed a negative Divergence and then it crashed we’re already forming negative Divergence right now so
I don’t know if we need to to go back up once we Peak I’m just telling you look the the whales are getting ready to pull the carpet out from underneath the unsuspecting crypto Community which again always I mean they are so reliable in buying into hypen hopium that the
Whales they buy long ago in early then get out and start dumping on the retail investors and the her the moon boys and their followers happens over and over again it’s absolutely amazing I’ve never seen anything like this that these people you know get all hyped up and
Then they pull the carpet out from under them and they fall it’s like Charlie Brown and Lucy you know Lucy puts that football out there in peanuts you know and Charlie Brown runs to go kick the football and every time she moves the football and he
Falls flat on his back Falls for it every single time and that’s what uh you know the moon boys and and their followers are most you know probably 95% of the crypto Community fall for it every single time and the whales just laugh themselves silly over they’re Lucy pulling that football out
And again that’s what they’re going to do right now they’re going to pull the rug out from underneath uh the moon boys and their followers so again just wanted to touch on that let me uh let me just see if there’s any news while I’m making
The video here uh again as we’ve just started the Thursday session just want to make sure we know about Michael sailor selling uh uh micro strategy shares he wants to buy more Bitcoin well guess what people in their mind oh he wants to buy more Bitcoin yeah maybe at
Lower levels though I don’t know I mean he bought the he bought the top you know back up there when we were moving off of the 69,000 area so I don’t know maybe maybe maybe with him he does it I don’t know telling you that people like Black Rock and other
Big institutions and the whales and the the the big money The Bigs I call them big institutional guns okay they’re not going to you know the the the retail investors are going oh we’re going to push Bitcoin up above 100,000 they’re going to have to buy the Bitcoin ETF
Above 100,000 and I mean it’s just I mean it’s so absurd these people have the money you just saw a liquidation today over a 45 minute period and the other day it was over about a 10minute period where they wiped out couple hundred million dollars and they did it
Again today in or or Wednesday sessioning out a couple hundred million in a matter of minutes there a preview of Coming Attraction these people have so much money behind them The Bigs black rocks of the world and the whales they could easily dat the retail investors
With no problem I shown you the whale addresses are they’re selling this they’re not buying this and I don’t have time to go through it all right now shown you those those numbers and they are selling if if they were buying it the volume Trends would be huge
Liquidate all these people they’re going to drive Bitcoin down probably down to a new low probably down to 8 or 9 or 10,000 and create capitulation and they’re going to pick up Bitcoin Pennies on the dollar people aren’t stupid push Bitcoin back down and this is a bunch of
Hype and hope and we talked about the Bitcoin La wave count and maybe again it go down to these lows from the previous bare markets uh the last two bare markets are intersecting right at this 8 n 8 9,000 area maybe 10,000 again that and these lines are
Pointing these lows are pointing down to that area as well so again that’s where I think we’re were headed I think that Bitcoin has got a 1 2 three four five and I think you now have a I think we’re finishing B here and again maybe we go
Up and hit my upper Channel around 48,000 or so and then I think you get your C move and you move down here to 8 or 9,000 10,000 and you know Just for kicks Just for Laughs they wipe out all these people right here and they join the club
And getting wiped out by the whales like what they did 48,000 like they did at 69,000 and like they did at 65,000 that’s what I think’s going on I think we’re now completing the ABC move as I’ve talked about and again maybe it’s done maybe it’s not you still could
Go up and hit that upper Channel S&P hasn’t hit its upper Channel either maybe we do that we’re going to get the uh inflation data next week it’s likely going to come in hotter than expected it’s going to supposed to take up on a year-over-year basis figures change uh
Good but right now the consensus is that it’s it’s supposed to tick up you’re over your basis and that can freak the markets out that can freak out you know crypto because thinks inflation’s done and over with possible we see the S&P make a new all-time high and Bitcoin and
Then see them Peak just as possible that we we see them turn down signals all start turning bearish now again we could still get a better defined uh Divergence here on the RSI uh and again go up towards that 48 to 50,000 level or or 78.6 Fates at 50,000 are uh
Upper Channel lines right there at the 48,000 area just under 47,000 but this is what we think is likely going to be the case and again if they liquidate everybody go into recession we get a Fed pivot meaning they lower rates again this is going to be bearish for the
Stock market and bearish for Bitcoin oh but the having the having doesn’t really impact Bitcoin like it used to and I know people you know love you know the talking points but you know Bitcoin it can’t go lower we you know the bare markets on bitcoin they only last for
One year and then it’s over with that’s it the problem with that is this is corrective right here like an ABC this is a five-wave structure so we’re now getting the ABC here so it’s a 535 pattern you’re likely going to get another five that’s going to take you
Down to a new low and again capitulation but again see how it unfolds I want to remind you again my signals remain bullish people don’t hear that my signals are bullish we predicted a rally for Bitcoin either get a lower high or we get a higher high told you if we got
A higher high watch the trend line at 37 38,000 and the 78. or 61.8 Fibonacci at 39,000 pushed above that we talked about the uh 78.6 Fibonacci at 50,000 and again we pushed up through the trend line and we now have this upper boundary which is parallel to the lower boundary
Which is a channel and a bare flag likely a continuation of this so you’re going to get get this measured move type of a pattern in all likelihood like I said we’ll probably see more volatility up and downs but if there’s disappointment if there is a disapproved
A disapproval of the Bitcoin ETFs then you get an immediate sell off get a push higher and then get it if there is a delay the same thing if there is the approval again maybe we go higher we top out and I’ve talked about in my last update the topping process surrounding
The Bitcoin Futures ETF right here and again all the hype that was with that and over here was the coin top and over here the very top uh the launch of the Bitcoin future contracts uh the launch going Peak the day before of the launch so again they’ve all marked tops talked
About this at Great length of detail now some people are are telling me that some people are starting to repeat what I’m saying so I I guess I’m show pre for some people but pointed this out and I’ve been talking about this for a long time here it is up close
Just so you can see it I just zoom in here a little bit so you you can see it again the ABC structure uh and then we get this leg down it’s really going to end up being about a a 78.6 Fibonacci retracement of this entire move higher
Uh by by the time all is said and done so again that’s what I think is going on again these lows pointing to this next low in all likelihood they haven’t reached the upper boundary of the channel they still may do that here it is really really close up and you can
See my Elliot wave count and here’s the five leg push lower for a and then the ABC uh the the the ABC for B red B and then for C we’re looking for a move down here now again trend line moved on me these trend lines they move on me um I
Hit save and the trend lines move on me the lower boundary and the upper boundary moved now anyways we got this channel we haven’t quite reached it we still May uh and uh and then we’ll be watching to see what happens there we’ve got major negative diversions forming uh
Here in the weekly time frame and Also may get a better defined one there on the RSI but also on the uh now take a look again here is the channel from these lows over here I’ve drawn a parallel boundary from this high right here we didn’t quite reach it now
From this trend line to this trend line right here if we draw a trend line from this peak and this peak we have reached that trend line uh again if we reach the trend line from these lows we still may go higher S&P has done the same thing it
Hasn’t quite reached a trend line but if this trend line holds and we can’t move say there’s disappointment or something we can’t go higher uh then again we’ll be watching to see if this uh trend line is is then parallel uh changes and and the upper boundary trend line is correct
And marks the peak but if we do go higher uh this trend line you know you’re going into 48,000 or so uh we’ve had this little Channel break and we’ve taken out the 20 period and we broke down and we back tested that now so that’s kind of interesting as well uh an
Area of resistance there with this broken uh trend line that we broke here so something to be paying attention to we’ve had the Divergence over here and I told you we might get another reference point well maybe it’s done because we did turn up and then we turn back down
With the RSI so you do have another reference point of a Divergence right there okay very similar to the Bitcoin top at 69,000 so again just some things to pay attention to uh but again I expect whether we go higher and get it approved and get by get by the rumor
Sell the news or whether there’s going to be disappointment with a a delay or whether there’s going to be a denial some are speculating uh remains to be seen but regardless it’s going to go down no matter what you’ve got these negative divergences uh that are warning
That something is about to happen happen now could Bitcoin go higher and hit this upper boundary first yes it can and maybe the Divergence isn’t done maybe it goes up again like that and again you’re hop skipping and jumping in the consolidation here you end up going
Higher kind of like at the July High where we turned down went back up turned down went back up and again you had a multiple Point Divergence and I drew a channel from these lows over here we slightly violated it but still closed above it with uh you know hitting uh
Horizontal support and as I said if we include the Shadows you know you you come right into it there now you’ve got more of a rectangle but you did see distribution happen with the liquidation and again notice the spike in volume there uh we are advancing on declining
Volume we know that the whales are selling I know the conventional wisdom is oh no the whales are buying no they are not they are selling into the rally what do you think these these uh these uh liquidation moves are here 10% and
Here or you know 8 8 and 1 12% there and here 10% these liquidations are happening because the whales are Silling into the rally oh it’s not going to be approved boom you can see the bigger picture here for my channel and again these lows have a parallel boundary here and
We haven’t quite reached it this is the log scaling and I’ve talked about I’ve talked about how the lows over here could be pointing to the next Bitcoin high right here just as when I called the top over here T of these lows we pointing to the next high and you know
The moon boys told so it’s a breakout Plan B said worst case scenario we’re going to be at 135,000 by December scenario over 400,000 he’s saying the same stuff he said back up at the top now say Bitcoin is never going to go below 35,000 but
Now his Target is even higher it’s not 400,000 now it’s over 500,000 the same people saying the same stuff that they said back up but these Peaks over here and the lower high that set up there the same people that told us this wasn’t going to happen now again look my signals turned
Bullish right here I called the bottomed a rally I told you we either going to get a lower high or higher high I told you this trend line may come into play right here at the 37 38,000 area and we moved above that now we’ve gone to this
Next level of resistance so now the this trend line comes into play and this parallel Channel upper boundary comes into play about support and resistance so my signals again and remain bullish I expect reversal and that we’re going to drop back down and come back and test
15,000 you’re either going to get a higher low there or you’re going to get in all likelihood a lower low it’ll probably take you back to 8 9 10,000 oh that’s that’s a horrible thing to say just a bunch of fud yeah that’s what they were telling me back when I called
The top over here predicted the crash before it happened same people are saying the same stuff the same hype the same nonsense my uh fifth favorite moonboy has now got a million dooll Target and I I talked about that I spoofed that on my last thumbnail about that my last video that
He’s got a million-dollar Target we’re going to reach this by you know 2025 just unrealistic out of touch with reality uh expectations and again you’re probably going to get the carpet pull right here right now or at a little bit higher levels between 48,000 and 50,000 right there where there’s major
Resistance or 78.6 Fibonacci is just above 50,000 around the 52,000 50 ,300 area or so 250 something