BITCOIN: IT’S OVER…….

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BITCOIN: IT’S OVER…….

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Timestamps:
00:00 Overview
01:12 Bitcoin Analysis
04:27 Bitcoin Spot ETFs
06:45 Halving Predictions
07:16 Coinbase vs. SEC
09:20 Liquidity / Bullish News

#Bitcoin #Crypto #Trading

DISCLAIMER: Virtual Asset values are variable, cannot be guaranteed and can be highly volatile. Nothing on this channel is financial advice, just my opinion only.

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Crypto kids welcome back to another video and in today’s video Bitcoin is unfortunately not having its best of days uh for the past couple of days we’ve been consolidating and the bondure bands have been squeezing we’ve been uh kind of predicting a large move to come ahead and uh following this bearish

Pennant Bitcoin has broken down uh and the levels that I’m expecting I will get into in today’s video of course what we’ve been discussing in previous videos have come to reality the three and seven period moving averages have finally seen a cross over follow following a great weakness candle a shooting star candle

That we experienced last week after the Bitcoin spot ETF approvals and um this is not a good sign at all that’s why I’m expecting 37 34k to be going all into my Bitcoin positions uh over on bitflex but I’ll get into all of the details in the

Upcoming minutes so make sure to stay tuned until the end of today’s video leave a like subscribe turn on the notification Bell to not miss out on crucial updates we have the bearish news to go through including gpc’s incred incredible amounts of Bitcoin outflows but of course we also have some bullish

News to get through as well and for all of that like I mentioned stay tuned until the end but guys I’m crypto kid and let’s jump straight in to the Bitcoin technical analysis now going over into the Bitcoin shorter term time frame here we can see that Bitcoin uh

Just a couple of hours ago broke down from the support line of this bearish pennant now the levels that I’m looking at in the immediate short term is between $40,200 to $40,000 750 at this point we’ve seen multiple Wicks come down to this range uh find support and shoot higher so Bitcoin if

We see the move actually end up here I think a possible consolidation is definitely a alternative on the table and probably even a short-term pump but over in the macro sense I think that it’s not looking good um especially now with the confirmation of this three and seven period moving average crossover as

Throughout multiple times in history history over on the weekly time frame which is much much more impactful compared to the Daily time frame whenever we did see this cross over Bitcoin had significant drops towards the downside one of the most famous ones was at the top of the previous bull

Market so even in the previous uh even in the one before right in the first half of 2021 we saw this bearish cross over and we entered incredible bare markets like uh the one that we just tried to escape out of was the one that

We entered and uh here even in the uh in the small pumps than uh retractions in price following up to the ETF approvals we also see saw these bearish crossovers that led to uh price moves down to the 25k line of support and uh we’re kind of

Seeing it again now and that’s why I think $34,000 is probably going to be my biggest inflection point at the and it’s going to be where I put most of my Capital back into Bitcoin going almost all in my portfolio uh as we have the MRI line of support we have the 30

Period moving average coming back up to the 34 4K level we can see that the 30 period moving average made incredible resistance for Bitcoin uh while we were having this relief rally uh in April of 2022 Bitcoin tested it perfectly perfectly and fell down by approximately

67% so I think that the 30 period moving average this time is going to provide us good support like we did here too and uh from that point uh it is very much possible the Bitcoin can continue its rally but guys remember nothing in this video is financial advice whatsoever

This is just my person technical analysis always make sure to do your own research before trading or investing it is super super important so 34k in summary 34k 37.9k these are the points that I’m looking into for getting into Bitcoin and we can see here over on bitflex these are my limit long

Positions and if you are looking for a place to be trading Bitcoin and other cryptocurrencies you can head over to the description of today’s video to check out bitflex and get up to $888,888 worth in prizes and bonuses they also have this super cool thing

Going on in the uh Flex shop you can scroll down and click make your wish and by clicking that you’ll be forwarded to this form where if you fill out which item in the flex shop you want the most you may get a chance of actually getting

It uh once every month there’s going to be a new raffle and in random someone’s wish is going to be granted so make sure to check it out uh I think it is a super cool um you know it’s a super cool feature to give back to the trading

Community but of course the Bitcoin ETFs are getting B matured and this is completely normal and we do have some bearish news regarding gbtc but I’ll be showing you why in the macro you really shouldn’t be worried and be excited on the other hand now gbtc is seeing

Massive massive outflows you can see here the total balance history is collapsing like collapsing to pre well actually we’re at 2019 levels you can see four hours ago a total of 42.5 million 4 hours ago 41 4141 $40 million they’re all going out of the bit Bitcoin

Trust uh from grayscale the wall that we can see here over on Arkham intelligence and the reason for this is there’s massive outflows from gbtc Mostly putting into you know the current bitcoin spot ETFs as suggested by James saart one of the Bloomberg um Bloomberg brothers that have been guiding us

Regarding the trade f space in this Bitcoin ETF conundrum that we’ve been having for the past couple of weeks so there’s not much to worry this this capital is most likely flowing back into the other uh ETFs such as Black Rock which hit over one billion in AUM assets under management

Then we have number two Fidelity with $874 million but you can see here the gbtc still has $24 billion under assets and as this money keeps on shrinking of course not all of it’s going to be recycled back into these ETFs some are going to be completely withdrawn from

The market but in the macro sense in the next two years I think eventually uh we’ll be seeing much more of these aums and um in ey shares in Fidelity in bit wise and that’s going to completely outscale what is currently in grayscale so um I’m not too worried about this

Because I believe in Bitcoin in the long run but this is bullish look we can see another way to put the Bitcoin ETF Flows In ETF context besides showing their um I don’t know what it is relative to past new launches it is how they stack up to

All ETFs in the past one we flows even after 4 days two of them are in the top five and three in the top 10 under the W studs um Vu and QQQ uh Etc so these guys are of course the most most traded ETFs

In the trade five space and we can see that ibit fbtc and bitb are in the top 10 and this in my personal opinion is incredibly bullish and that’s why I don’t think there’s anything to worry in the long term usually Bitcoin does tend to see these Corrections coming up

Towards the Hing which is in approximately 100 days and after the Hing Bitcoin does tend to Skyrocket now if we just jump quickly back into the charts we can see that on the monthly chart I mentioned in the previous video too that the candle is not looking too

Great and that’s why it is possible that we see a small correction in the following month’s candle but after March April I do think that this Parabola will continue Rising uh but yeah that’s that’s kind of my perspective in terms of the Bitcoin ta do we have other news

We definitely do um and this is about the coinbase and SEC court so this has been a very hot topic yesterday on what’s going on but I didn’t want to comment on it until we kind of finalized what’s going on and um if you guys remember just a couple of months ago we

Had a kind of a trial with 13 I think it was 13 or 12 different tokens that the the SEC was claiming there were Securities Salon I think Matic was one of them that were claimed a security and uh we saw the court between coinbase and SEC yesterday and what basically

Happened in a massive massive summary uh is that the the case got adjourned meaning it’s going to be postponed and um the the court is going to give their decision within two 2 to 6 weeks according to journalist Elanor terret and uh within 2 to 6 weeks it may be

Decided that okay these tokens are securities and at that point we may see altcoin see a major major dump and this is something we need to be on the lookout for however from my personal readings and summaries of what happened yesterday I think the court was pretty

Bullish and were on coinbase side rather than the sec’s so if that turns out to be true then we may be seeing massive pumps on these altcoins but if not I think the dump would be harder than how much we would actually uh actually potentially pump so the court apparently

Said that we’ve had a good run we’ve had 90 years where these security laws have been able to apply to these markets but now we have something new and U that’s just incredible so this is from actually Senator Cynthia Lumis um and I I honestly completely agree with this I

Mean it’s super hard to make classify cryptos as Securities I definitely think that some may fall into that category but this is a completely new asset class that needs to be treated completely differently and I don’t think traditional test such as the Hoy test actually applies to crypto and that’s why we need

To create a new kind of um ruling structure to it and once that comes around I think uh it’s going to Mark crypto as this incredibly now open to institutional investment and matured asset class that will just keep on Rising in popularity in these upcoming um upcoming months and years and we can

See that the total liquidity as I mentioned uh over at $34,000 has rised to 5 billion and that’s why it is very much possible that b coin is attracted to this level to collect liquidity and then continue Rising after the Bitcoin haling and what else do we got yes we

Went through the ETF stuff but in terms of the final final news to go through former president Donald Trump says that he will never allow the creation of a central bank digital currency if elected in 2024 which is of course super bullish for many many reasons that we could go

On for hours on this video but just to keep it simple we’re opposing cbdcs uh because it’s completely against what Bitcoin stands for and that’s why this is super bullish and uh caner Fitzgerald CEO says that when the Hing comes Bitcoin will will rally and caner

Fitzgerald is a company set up in like 1945 they’re super famous um in multiple things in terms of the finance world and they also gave bullish predictions uh about usdt and that a lot of their assets which they claim I think is 80 billion in cash and 80 billion in

Liabilities is most likely there so that’s very good for usdt uh in terms of news that such a big company is now vouching for them and finally Franklin Templeton the company that has over or the institution that has over 1.5 trillion uh in I think it’s 1.5 trillion

In assets under management has started tweeting about Bitcoin and crypto and put laser eyes on their profile pictur saying that you are unsure how to feel about laser ey Ben Ben Franklin just think instead of Ben whiff hat I don’t know what it is but they also said that

The um that the digital assets research team has taken over the Twitter and that’s why we’re seeing things like this but I think that’s super funny that a institution with over a trillion dollars is tweeting stuff like that I think it’s super bullish for the industry but ladies and gents that summarizes the

Video for today uh let’s jump back quickly into Bitcoin and see if there’s anything happening yeah the monthly candle doesn’t look too great um and it is possible that Bitcoin test this $440,000 areas and uh yeah if anything crazy happens I’ll be updating updating you firstly on my uh telegram channel so

Definitely check that out it’s completely for free just for my community and for me to be able to you know U write things in when I can’t make a video and of course follow me on Twitter for breaking news but ladies and gents that summarizes today’s video

Thank you so much for watching have a great day everyone and yeah take care I’ll see you all soon take care guys and bye-bye