The Bitcoin Top Is In.. (Do This Now)

Is the Bitcoin Local Top in? Stick around to find out what this mean and what you should do next.

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#Bitcoin #Crypto #Altcoins

⏱𝗧𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀:
00:00 Is the Local BTC Top In – Intro
02:55 Trading BTC.D & TOTAL3
07:42 Important Ecosystem to Watch For
10:39 AI Narrative
14:20 Recap

🎬𝗪𝗮𝘁𝗰𝗵 𝗠𝗼𝗿𝗲 𝗩𝗶𝗱𝗲𝗼𝘀 𝘄𝗶𝘁𝗵 𝗠𝗶𝗹𝗲𝘀 𝗗𝗲𝘂𝘁𝘀𝗰𝗵𝗲𝗿:

🔎𝗥𝗲𝗹𝗮𝘁𝗲𝗱 𝗦𝗲𝗮𝗿𝗰𝗵𝗲𝘀: BTC – Bitcoin – BTC ETF – ETF – Trading – Crypto – IPO – COIN – Coinbase – Bitcoin Spot ETF – Altcoin – LSD Crypto – ETH – Ethereum – FRAX – AI Crypto – AI Narrative –

Is the local Bitcoin top in and if it is what can you do about it in today’s video I want to discuss the current state of the crypto market and look at what could potentially be next after the spot Bitcoin ETF approval looking at the Bitcoin chart it’s been some pretty

Crazy price action over the last couple of days we had a massive Bitcoin pump to the upside when people started to realize the potential of the inflows on day one of the spot ETF listing however after the official listing when we got wind of the actual data it was slightly

Disappointing compared to some projections and that resulted in Bitcoin coming down significantly in price and I’m not going to lie to you looking at the 4H hourly chart this isn’t great price action especially this candle here with this massive Wick to the upside to 49k and obviously a major correction now

From a macro perspective of course Bitcoin looks terrific and I’m not here to FUD or say that Bitcoin is going to crash or anything because I don’t believe that is the case I’m simply suggesting here that there is a potential now for a Bitcoin cool down

After what has been a pretty crazy rally now that on the lower time frames things are just showing signs of Bitcoin cooling down and I’ll get into what this can actually mean for your portfolio in a couple minutes I do think we have to acknowledge the amount of froth in the

Market especially over the last week in regards to bitcoin Chris who formerly LED Arc invest said ready to be wrong here but looking around at the froth I can’t help but wonder if this is reminiscent of the coinbase IPO a momentous event that caused many to expect much higher afterward but instead

That was the top for a couple quarters for Bitcoin when we look at the coinbase IPO we can see it spiked on IPO date and then it ended up retracing significantly Bitcoin at the same date of the coinbase IPO also made its local high and then ended up having a couple quarters of

Downtrend does this mean that the Bitcoin spot ETF will replicate coinbase’s price action not necessarily it’s just interesting to point out that the last time we did see an official stock market listing related to crypto that ended up being a local top now remember the word local local refers to

A lower time frame for example over the next month or two months it’s not say that Bitcoin can’t go higher this year in fact I think it will at some point during the year but it does seem like a logical place for Bitcoin to start to

Cool down and certainly as the ETF trade now officially comes to an end we we have seen the volatility index start to decrease for Bitcoin which suggests that investors are now starting to drisk themselves and the expected volatility for Bitcoin is expected to be less over the near future because that was the

Climax that was the big major trade that everyone’s been piling into since Bitcoin was 25k and now that chapter is over but let’s run a thought experiment here let’s say that is the Bitcoin local top all right let’s say it is for the next couple of months what does that

Mean for the market or the altcoin market well in my opinion it doesn’t necessarily mean alts will go down at all in fact in that scenario I do believe there’s a chance that alts continue running while Bitcoin stagnates now this is a thesis that I generally subscribe to it’s that we’re going to

See a Bitcoin coold down and of course it’s all my opinion I could be wrong but this is why I make these videos right to share my opinion based on my analysis I’m expecting a Bitcoin cool down I think we are going to see the hype around Bitcoin start to cool 49k may

Very well be a local top for Bitcoin however previous price action leading into past Bitcoin hars as you can see here typically experiences Bitcoin dominance pullbacks heading in to the Haring and this is already something that I’ve started to see over the last week as you can see here with this

Really strong reversal candle for Bitcoin dominance so what typically happens when Bitcoin pumps massively and this has been the major trade is liquidity goes primarily into Bitcoin but then at some point it needs to siphon off into the rest of the crypto Market market and this is already why

You’re seeing ethereum be one of the strongest performers now as people shift their attention from Bitcoin into the ethereum ETF but this ultimately is a great thing for the crypto Market especially the allcoin market I know most of you are degens and make most of

Your money and I make most of my money of allcoins right not actually Bitcoin so a cool down in Bitcoin and a little bit of breathing room for alts in my opinion would be a great thing and it’s a natural progression of the cycle Bitcoin ethereum altcoins until Capital

Rotates back into Bitcoin again so I am expecting over the next few weeks if Bitcoin does experience a cool down this doesn’t mean that altcoins are also going to cool down it can actually mean the opposite it can mean alts perform quite well and we see a slight repricing

Of this Bitcoin dominance to the downside as you can see in front of you and in terms of total three this thesis would be verified by what the technicals are saying total 3 had a perfect retest look at this a perfect perfect retest of the major resistance now flipped into

Support level at the $450 billion Zone the altcoin market although it seems big it’s not actually that big compared to traditional financial markets 500 billion is not a huge market cap and it doesn’t take that much liquidity to pump the altcoin market especially when you’re seeing flows from Bitcoin and eth

Into the altcoins I do believe ethereum needs a bit of room to run but definitely altcoins start to play that catchup game when ethereum starts running usually in the mid to the latter stages of an ethereum rally you’ll see alt really take off so although Bitcoin

Dominance may start to look like it’s uh tapering off here we now are seeing total 3 performing really strongly and actually locally this looks like it wants to break past these recent local Highs at the $530 billion region so from a technical perspective as long as we’re

Above This major support I am quite bullish on alts although I have been taking profits because I think it’s wise to take profites things pump we’ve hit some amazing trades over the last few months so it’s always wise I still have been taking some new positions and

Tweaking things around to make sure I have adequate exposure to the altcoin market so now in today’s video I want to go through some of the sectors that I’m becoming more interested in uh at this current moment in time if we are to see an altcoin rotation so although the

Thumbnail of the video might look bearish at face value I’m not saying it’s bearish at all for altcoins in fact as I said it can be quite the opposite for altcoins so before I get into the narratives that I’m currently looking at I want to remind you that if you want

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Want to remind you that smartex has New Pools launching all the time so if you want access to some of the best aprs in crypto as you can see here some of their native pools are paying 60% plus you can also use the link in the description

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They built an amazing product due to the fact that when you do LP so provide liquidity into liquidity pools on smartex they do have a mechanism to reduce the negative effects of impermanent loss which lowers the risk of actually staking on the platform compared to other amm so let’s look at

Some of the ecosystems that I’m interested in right now the first one is the ethereum ecosystem there are a few specifically that I really like but this has been one I’ve been hot on for the past couple of quarters you guys know if you’ve been watching my shows EIP 4844

The denin upgrade is a major Catalyst and I’ve been talking about it it finally looks like we’re on the doorstep of this upgrade which is going to really really reduce fees on layer 2s and make them a lot cheaper to use this is great because it gives them a competitive

Advantage after they slightly lost that advantage to newer and faster chains um like salana Celestia injective Etc that have actually say that have stolen some of the transaction volume so L2 is now become a lot cheaper which should lead to more usage which is obviously great for the ethereum ecosystem that’s

Happening in andom with this new ethereum spot ETF trade uh which obviously Black Rock filed for an ETF and if you do look at the run that Bitcoin made from the filing to the official approval it went up 88% if ethereum goes up 88% it’s pushing $4,000

And you know could go even higher in that case if eup really builds up because it’s a lower market cap than Bitcoin right so it takes less liquidity to actually increase the price so ethereum is a super interesting trade the ecosystem to me is interesting I’ve been taking positions over the last few

Weeks weeks but I’ve really been building my ethereum positions for a while now and there are a few coins that I want to highlight just quickly Pendle is one of them I really really like Pendle they’re embracing the liquid staking sector but due to the flexibility of the yield protocol that

They’ve actually built uh they can spin up vaults for pretty much any exciting New Vertical for example realwood assets so it gives you exposure to a variety of verticals within the eth and the L2 ecosystem so Pendle obviously being an arbitrum based project is one that’s hot underneath this narrative and also um

Has access to other big growing narratives like you know lsds uh reaking also the rwa sector um maybe even in the future it could expand into you know other niches like AI Etc so pend is one that I definitely like fracture is one that I like and from a technical

Perspective it’s looking good it had a very strong balance like total three off this major level which is now a support level at the 7.5 region obviously you do have these previous local highs that that you want to clear at $10.50 but it did attempt to break through and if it

Pushes up for another test here frax definitely has that Target of 14 to16 so this is one that has a lot of upcoming catalysts and in my opinion can run when it finally sees the light of day in terms of positive price action so that’s one that I’m looking at uh but there’s

Many other ethereum narrative coins as you can see I’ve made a list of them if you want to check them out those are just the two that I’m most interested in but of course arbitrum is a position I still hold from my air drop and also some additional accumulation there as as

Well as obviously ethereum itself and some of the other e ecosystem tokens the next narrative I want to touch on is actually the AI narrative if you look back to when Mark Zuckerberg announced the rebranding of Facebook to meta clearly that resulted in a massive narrative and price pump for a lot of

The game fight and you know metaverse projects like sandbox as you can see had that massive Monumental rally then we saw de Central and Mana also have a similar rally around this time now we are starting to see Facebook starting to Pivot and this Bloomberg article came

Out which was crazy um about Mark Zuckerberg pivoting more into AI from the metaverse Apparently like most of the more than two dozen current and former meta employees who spoke to Bloomberg business week for this article this person asked to remain anonymous to avoid personal consequences according to

Those people Zuckerberg is now making AI his top priority after his conversation with Pai Zak returned to meta’s headquarters in Meno Park California and asked to be briefed on all the latest work by its AI research group called fair for fundamental artificial intelligence research he educated himself a lot more said Jerome penti

Meta’s former vice president for artificial intelligence it seems like although Facebook rebranded to meta and was really keen on the metaverse that Zuckerberg is now starting to really view AI as a viable business model for Facebook now I’m not saying this will lead to a huge crypto pump like it did

Back in the metaverse days cuz market conditions are very different now and I don’t necessarily think it has the fundamental drivers or legs behind it like gamei did but it could certainly lead to some short to midterm price appreciation on these AI altcoins so that’s why as you can see I’ve got my

List here um of fet ocean render adix these major AI proxies that I’m looking at that are now starting to show some signs of life after being asleep for quite some time so definitely keeping my eyes on these ones especially as they start to cross their local high zones

I’ll show you a few of these zones you’ve got this Zone here on Ax if this starts to break it could definitely be a nice breakout trade also similar setups are presenting on Ocean it has this major top that it made on February 6th as you can see here if that breaks above

That would be absolutely massive you still do have a 20% potential trade now risk reward might not be as good now versus um getting in in on the breakout but if you do want an initial position now actually doesn’t look like a horrible time to do so and then you also

Have a similar setup on fet of course it broke above its February 6th level and is now looking to push past this local high of 79 so these are all very interesting setups all starting to show signs of life so that’s definitely a narrative that I’ve got my eye on so

Those are the two I wanted to present to you today ethereum ecosystem and AI there are more narratives but these come to mind um as potentially two of the strongest ones that I’m looking at now if you’re into crypto airdrops in 2024 do not fade the data ownership

Protocol airdrop which you can get access to just for completing their test net which means it’s free so there’s no gas fees it only takes 5 minutes you get a guaranteed reward which is based on 1% of the total dop token Supply and a referral bonus so if you’re bullish on

Dot like I am it’s an amazing protocol which allows you to control your own assets encrypt your assets choose what you want to show to the world and choose what you you want to hide from the world um then you can get your hands on tokens

By completing the test net all you need to do is go to the link in the description below click on the test net button then you can simply sign up for an account create a new wallet or if you already have a wallet you can import it

Then you’ll need to do some very basic tasks such as following them on Twitter encrypting tokens claiming test net dot uh Etc so it’s very very simple run through the steps it’ll probably take you 5 to 10 minutes and that is one guaranteed way that you can get your

Hands on a do airdrop until May next launch there’s going to be no other way right now that you can get your hands on an airdrop so there’s a link in the description below uh and Dopp will be launching at I think a pretty sturdy valuation when it does launch so this is

Definitely one from a token perspective that can be a very strong performer this year and one way for you to get access now obviously because you can’t buy the token yet is simply through the test that it getting your hands on air drops I’m doing all sorts of airdrop guides on

My Twitter that’s something I’ve been really active with recently in the COS ecosystem salana injective those that follow me on Twitter @ miles deut that there should be a link in the description below you guys know that I cover all that stuff as well in more

Depth over there but the dop test net is another great opportunity so I hope you enjoyed today’s video let me know what you think of my theory in the comments below if you enjoyed smash that like button and I will see you in the next video thank you for all of the support

On the shows good luck in the markets enjoy the pump while it lasts uh it’s been amazing for us to finally be rewarded after you know what’s been I think a pretty difficult couple of years but this last few months has been absolutely amazing and it’s great to see

The community back and engaged in the content as well I’ll see you in the next one peace out