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    Good morning gurus welcome to another episode hope you’re having a beautiful day beautiful start to 2024 the year started on the second day with a big Bitcoin drop Bitcoin dropping around 10 7 to 10% yesterday we’re going to check on the charts and it annihilated the alt

    Coins on that drop hit the Subscribe button smash that thumbs up and turn on the Bell the drop is being blamed on um a a a research company saying that the ETF might not be approved and that false claim apparently is what set off this massive drop but these are just

    Narratives just like in 2016 2017 2018 if you remember it was the China Banning Bitcoin fud that would be keep introducing into the market to kind of reset the funding rates and push down the price of Bitcoin now it’s the US government Banning Bitcoin fud that’s happening in 2023 it’s just interesting

    How it’s the same but 6 years later let’s jump into technicals for Bitcoin now we’re going into the technical and the Market’s again getting pretty wiped yesterday not just in cryptos worldcoin down 14% this is the one that I was buying it erased all the gains that it

    Made pretty much on worldcoin um Iota down 11% idex 11% unisoft 10% Doge 10% salana 8% huge drops fxs 8% SOI 7.7 xrp 7 ethereum 6% total devastation to the market 88888 billion 5% of the market $88 billion White mcrt 5% Bitcoin 5% um tech stocks Unity 4.8% Tesla 4%

    3.4 Intel 1.5 so this could be a sign of a topping um forming on the markets when you have these big wild big corrective drops all of a sudden with no news it’s kind of saying that the markets are getting toppy the the meat of the move

    Has been made that that correction on bitcoin was a big one look at this and it it held on exactly holding on my trend line which I find beautiful um but look at this just break from 45 almost 46 all the way to 40K on just no news

    Massive volume coming in on that drop um Bitcoin indicator bot is now saying that Bitcoin it’s it’s set a sell crypto Guru bot still blew by from the bottom it hasn’t fired a sell yet but the bcoin indicator bot which is usually the earlier one it did oh it took away the

    Cell yesterday it fired a cell but now on this bounce back the cell has been taken away way interesting interesting so Bitcoin indicator but still saying buy from the bottom hasn’t fired it fired a cell but it erased the sell after the bounce back daily stochastic

    Heading down look at that one of the biggest volume days we had a volume day like this but the price didn’t drop so much but you can see here we had a similar volume day here where we dropped we had on that day 292,000 Bitcoin sold this day we had 306,000

    Bitcoin sold and on that day it came down from 45,000 all the way to 40K which is what we had right now 46 to 40K then slowly over the month of December crept up and then yesterday again same kind of thing volume here we had a big

    Spike same you can see what I’m talking about as I teach you in the crypto Master course is These Bars here each of these bars represents one day of volume and you can see on the top left you can see here on the top left that this volume date yesterday was 3 6,000

    Bitcoin bought and sold on the left side 306,000 the day before 180 day before 80 day before 68 so you can see the average daily volume is around 100,000 Bitcoin bought and sold yesterday was 300,000 three times the volume when we had a sell off like that here we had similar

    Selloff and then the next days it moved back up we had a similar sell off here and then the next days moved back up we had a similar sell off here next days moved back up I mean volumize same similar sell here move back up these big

    S sell volume here we had a big one back in August we dropped from 29 to 22 and then slowly over the month moved back up where are the days do we have big volume spikes like this here was one here was one interesting then a big bounce so the true support is

    40,200 that’s where I would open big Longs now or add big positions it’s 40,200 because that’s the M that’s the real support where Bitcoin yesterday came down to you can see it came down 46 came down bounced off that support and Weck back up so really the main area of

    Support the real spot support is 40,200 42,000 is all the leverage Longs that piled in on the drop but the true spot support is 40,200 so that’s where I would open big Longs or heavy Longs um if I was going long on bitcoin from 40,200 so this second wave is not finished

    First the second wave corrective wave is not finished I thought it had started the the second to third usually the corrective wave should be bigger though the SEC first to second so it does make sense I mean it could be from bitcoin’s move it’s moved so much lately that even

    A pullback to the yellow trend line would be quite normal you can see this is the trend line we broke out of so even a pullback down all the way to 36,000 would be very normal for Bitcoin after a move like this do I think that’s going to happen

    No why because again the 40,200 is the true support that’s where the true bounce happened 40,200 that’s where the the strong spot buyers started coming in and held up the price before that it’s just liquidations it’s just liquid leverage Longs here so this is the true

    Support so that’s where I go long 40,200 for leverage trading look at that interesting 200 weekly moving average held quite nicely as well 200 moving average not broken for leverage Longs I would hope for if I’m doing leverage trading I would do it the best point is 40,200 most likely can

    Come down there but we are holding the 200 weekly moving average so even from here for a leverage long under the 200 weekly movie and off the stronger support here that’s for a riskier leverage trading in case Bitcoin does just move now if this spot ETF gets it’s

    Always better to buy the rumor and sell the news so everyone waiting for this ETF usually according to my strategy buy the rumor sell the news it’s always better to exit before the news gets announced there’s always a dump there’s always a dump after buy the rumor and

    Sell the news most likely you’re going to have a dump on the news so buy the rumor was the ETF is going to get approved Bitcoin is going to be part of everyone’s portfolio sell the news is the the news of the ETF actually being announced whether it’s allowed or not

    Allowed that’s by the rumor sell the news it always supplies in crypto in every single situation I’ve seen now this is a unique situation cuz that rumor buy the rumor sell the news buying the rumor is the ETF being approved meaning all the hedge funds all the funds all the retirement funds all

    Around the world especially in America when this ETF gets approved can start buying Bitcoin so right now people buy Bitcoin in the big scale institutional Way by buying mcrt which is micro strategies and kind of buying these kind of fake ETFs or companies that hold Bitcoin when the ETF is announced it

    Means all retirement funds around the world and especially in the US can start putting their money into Bitcoin a small percentage of it even if it’s 5% it’s trillions of dollars so that’s why I think this news is different this buy the RoR sell the news but again buy the

    RoR sell the news always works in crypto from the very beginning since 2012 when I got in by the rum and sold the news but in this situation the news is the announcement of the ETF which Ann allows trillions of dollars to fly into Bitcoin so again it’s difficult one this

    This time but those are the trades I would take on bitcoin um the the stronger one from 40,200 with tight stop loss risk to road is 39 times risking 500 for 19,900 with no leverage 10x leverage $199,200 th000 profit 100 x l 2 million that’s the riskier trade from 40,00 the

    Safer trade 40,200 and this one is the risky 161 risk toward risking 299 for 18,500 with no leverage I’ll share these in the telegram um my okx 10,000 to a million challenge that I’ve started dropped massively yesterday day around 2K look at that drop boom it went from 10K in

    The it went from 10K 10K to 17K and now back down to 14.7 but I added to my Bitcoin position on this smaller 10K to a million doll account I added to the position so this trade is actually more profitable now it’s a $40,000 trade now and it’s bigger

    Profit so it’s actually profitable W coin got hit hardest on that 1 million to 100 10K to 1 million this account was 555,000 up from 150,000 got hammed yesterday so it dropped around 45,000 but a big bounce I added more Bitcoin so this trade is the same it’s um oh and by

    The way the funding rate got fully reset 0.01 that’s what I think is very good news for Bitcoin everyone if you’ve been following my videos the last days I was saying there’s a problem the funding rate is too high it was to keep my trade open was around $800 or it

    Was becoming about $800 a day just to keep my trade open S Bitcoin trade to keep it open $800 a day so that means the and that was now the funding fee is fully reset so now the cost of my trade being open is much cheaper you’re going

    To see it in 33 minutes I can show you how much will be but it’s 0.01 it was 0.1 yes yesterday it was even 0.2 yesterday so it was very costly to keep trades open now the cost of keeping a trade open just fully reset so my um

    This trade it’s 7 Bitcoin $67,000 in the profits this account 510 I added more Bitcoin yesterday I had two Bitcoin in this account now I have 2.4 Bitcoin so I bought more on that dump yesterday USD got 57,000 uni swap I’m going to buy another th000 I’m just heavily leveraged

    In right now I’m quite so like in I’ll show you what I mean in this account 59 ,000 but in cash I only have 57,000 so 10% only in cash the rest is in Bitcoin Unis swap which I just bought more of Doge which is down 10% 51,000 mcrt

    49,000 down 5% fxs 47,000 down 8% I bought more we’re all down 14k I bought more Unis swap let’s buy another k I love Unis swap but again I’m too heavily I think Unis swap is going to pump I’m too too heavily um out of usdt

    And into crypto so right now and it would be better to deleverage yesterday took a big hit 26k to the account but it’s okay I think I bought the dip so that’s my thoughts on the market let’s look at the total market cap of all cryptocurrencies to make sure now we got

    To be careful in these dumps when you have big dumps like this it means there’s a little bit of weakness in the market 200 moving average held on the total market cap total market cap crypto market cap so it’s all cryptocurrencies the entire market cap of all cryptocurrencies including Bitcoin and

    Um crypto so Bitcoin and all cryptos ethereum salana everything is worth 1.59 trillion before that dump yesterday it was worth 1.7 trillion so it was a $100 billion dump it’s 88 billion we said on bitcoin look at the 200 weekly moving average it held the trend line interesting volume growing volume

    Predicts Price look at the volume everyone look how yes it’s growing but look it’s barely like beginning look at the volume in the 2021 bull market look at the volume in the 2020 these are very good news if you’re watching my videos right now this ve very good news on

    Crypto and Bitcoin and look at the volume now and look what the price we’re at right now it’s spiked down all the way to this major area of support so the big support on crypto markets is 1.49 trillion all the other lines when we were buying down the bottom exactly have can go

    Now now we just keep this major that major area of support is 1.49 trillion that’s where we have support now oh why did I get rid of those beautiful charts actually I’ll keep the charts and get rid of this blue line just move so this is the true areas of strong support

    Now I think that was the this is the first wave of the Elliot wave count as well first wave and then this could be second correction so that’s a major area of support and a major area of resistance now and it makes sense because back in 2021 while this video

    After wrap up 2021 we also had major area of resistance and support look at that for many years we’ve been in this area here and now we just try to enter it so good news for Bitcoin and crypto those are my trades that’s my trade on bitcoin 67,000 bought more that’s my 9

    Okx this is my $10,000 challenge which I added more to bitcoin 10,000 to a million everyone in the telegram is trading discussing um you can join them all in telegram $4.5 trillion asset manager Fidelity files registrations of Securities with the SEC for spot ETF Bitcoin falls 5.6% on the day after Gym

    Cra says you can’t kill Bitcoin it’s here to stay um you can see everyone chatting and discussing and this is just this morning’s chat and people making gains on this drop also okay everyone I’m going to wrap up the video all the links are down below and don’t forget

    There’s a few more January 10th the laws of money course releases it’s not 8 days left anymore it’s earlier so keep that in mind um and all the links to everything down below under the video exchanges crypto Master cost telegram love you all have an amazing day and I’ll see you all again

    Tomorrow

    11 Comments

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