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You right before the uh launch of the Bitcoin uh spot ETFs that we had this negative Divergence on coinbase and I told you coinbase was peing and then we all of a sudden see this volatility after I called the top with this negative Divergence right but I told you this was
Predicting that we are going to have a selloff with Bitcoin with the launch of the ETFs and that was correct told you this is warning we’re forming a major top for Bitcoin we’ve talked about this again the the launch here of the coinbase IPO was the very top in early
2021 for Bitcoin and then it made a lower high while Bitcoin in November while Bitcoin made a slightly higher high and they diverged but again it marked another major top for Bitcoin and the extremes on the RSI have marked major Peaks for Bitcoin Bas behaves like crypto because it is a crypto Exchange
So we had this big push higher now we’ve had this this collapse this collapse since I called the top with this negative diversion talked about this at Great length of detail at the time the Divergence was forming again just ahead of the launch of the uh Bitcoin
ETFs in the ETFs but we’ve now come back uh we’ve taken out the 50 and we’ve now come back to this horizontal support now this was resistance this was resistance and then we broke above it and it’s now support so again can we can we get a a
Bid here and we are we’re trying to rallied on Friday about 3 and a 12% uh Bitcoin was up 5% or so so again can we get a bounce here if we do then again we very well could see Bitcoin bounce off of its 100 period moving average so
Again just watching this but again this is uh one of the the uh uh tools that tipped me off uh that Bitcoin was going to PE the launch and that’s why I predicted that was going to happen time we’ve had these divergences you know here we had nearly a 40% drop over here
Uh we had a significant drop being at the extreme uh over here at the extreme we had a significant drop and this whole thing with the Divergence here was down 92% and I think the odds favor that bitcoin’s putting in a major top and I think that the uh coinbase IPO uh was
Predicting that correctly and so far that has played out now again I showed you this chart which is now been copied all over the internet but uh again I’ve talked about this my research showed again these events these instruments these crypto instruments and Bitcoin instruments being launched they produce
Major tops again the Futures the Bitcoin Futures launch Bitcoin Peak the day before and it dropped 84% had a significant drop of about 63% immediately uh after and then rebounded but ended up dropping 84% in totality we ended the bare Market we started the new bull market and then you had the
Coinbase IPO that marked the very day of the top and Bitcoin uh top that very day coinbase too that very day coinbase dropped 92% Bitcoin dropped 55% we went back up and again oh these instruments they were supposed to be things that took Bitcoin to 100,000 over here 20,000
Over here 65,000 and then here 69,000 and they all produce major tops and bunch of the uh Bitcoin Futures ETF we put in a peak we dropped 16% Bitcoin topped the day after uh the to the Bitcoin Futures ETF dropped 16% went back up and moved slightly above it we
May see something like that here again I could be wrong about the top but my guess is that I’m going to be right because we already have the Divergence already completed now minded to go in slightly higher but even if we do uh again we would just be hitting our 78.6
Fibonacci at the 50,000 uh area just above 50,000 all produced major tops and we were told they were all going to be things that took us to 100,000 they they did the complete opposite that’s why I predicted that we’re going to top the day of and why is that because the
Bitcoin Futures top Bitcoin topped the day before with the Bitcoin uh Futures ETF Bitcoin topped the day after later on went a little bit higher 3 weeks later but it topped the day after so you have before and you have after so I predicted we would top with I told you
If I was wrong on that it would probably be the very next day on Friday I got it right and we again slammed up into here and we’ve got our bare flag now a continuation of this but uh what I told you was going to happen it ex it happened exactly as we
Predicted again Bitcoin we get a topping tail I told you to be watching for a topping tail a push-up into this thing I told you sellers would be there we talked about the FIB Channel launch of the spot ETF has produced another major top for Bitcoin and again we were likely
Going to get this move down which I believe that we have a b and now we’re going to get C and we’re going to come back down and I believe these lows are pointing to the next low which going to take Bitcoin down to the 8 or 9,000 area
Oh that’s an unpopular thing to say but again even though I was right about the top and the selloff the this 21.25% crash that we’ve had here right about the spot ETF uh creating the top again matter I was right with the top back over here and back over here it
Doesn’t matter bird doesn’t want to hear the truth they’re on a steady diet of hype and hopium they don’t want to hear bitcoin’s put in a major top and you can sit there and Blain things to them and show them they’re not going to believe going to believe until Bitcoin comes
Back down and takes out 15,000 which I think is going to happen you have um the the test of 15,000 where you get a higher low and then uh we go on into a new bull phase or more than likely you take it out and you get a measured move
Of this and again here’s my laot wave count again from the last the previous uh bare Market there 1 2 3 4 five and then we believe that we have an A here and that this whole move up was ABC and now we’re going to get the wave C down
Here that’s going to come down uh into likely late 2024 or early 2025 it’s going to be about a year if we’ve topped here in January this was from November to November and it lasted a year so could see something very similar to that here with the next leg down of the bare
Market but that’s my la8 wave count here’s our negative Divergence in the weekly time frame very similar to the divergences negative divergences up at the uh uh 2017 top negative diversion here at triple with the three drives to to high uh at our 2021 top and then you
Had a multiple Point Divergence uh with that top at 69,000 late 2021 and now we have a Divergence here just quickly again the ABC move uh occurs we get this push below 15,000 I believe these lows over here from this bare market and the higher low of the new bull market are
Pointing to the next low and intersecting with the um pre the bare Market before that at 86% uh the bare Market low to the new higher low in the bull market again pushing up here and I believe that those lows from the previous bare markets are
Pointing to the next bare Market low and if so that’s going to take Bitcoin down about 82% down to about the 8,000 five or 6700 area also be watching this trend line excluding the shadow if it breaks again this this is uh giving us the bounce here at 15,000 if that
Trend line breaks and we break down from the channel eventually uh and we come down here uh you know and lose the 32,000 area start dropping towards 25,000 32,000 area up here uh we drop down to this 25,000 area and you start losing that area of support uh which is
Rising support horizontal support right around that 25,000 area uh then 15,000 will be tested uh you have the 13,800 area which is the peak over here in the new bull phase right here so just some things to be paying attention to but uh again if this plays out uh we could see
These lows from the previous bare markets uh act as support trend lines and again pointing to the next low as I’ve talked about a great length in detail as I’ve talked about in my previous update points had three bare Market 93% 86% 84% % and now so far 78%
If this is the uh if the bare Market’s over as we’re being told this is the weakest bare Market in bitcoin’s history bit bare markets for Bitcoin are 80 to 90% you even get these 70 uh you know like right here 71% drop that that wasn’t a bare Market that was part of
The bull market okay and show you times in history where bitcoin’s had you know 50 60 70% drops but it’s not a bare Market it’s part of the the bull cyle but uh here just want to show you in the monthly time frame again real fast pattern of why we’re likely going here
Bitcoin’s pattern is bull market bull market bull market bull market trend line okay Bitcoin two bull market trend line the break and back test of the the uh two bll trend line okay the break and back test of the the bull market the two bull markets and that takes you to your
Next low or bottom which is the low from the second bull market in the two bull markets so these lows pointing up here to this low okay and then you do the same thing here you have bull market bull market okay bull market bull market two bull market trend line we take the
Two bull market trend line you take that uh black trend line right there and you go up with it and we have the break and the back test the break and the back test of the two bll trend line the bull the bull same pattern is back over here
Break and back test break and back test and then the next leg is that the lows next leg down the bottom is that the lows from the pre the previous bare Market lows are pointing to uh and the higher low that set up just like back over here are pointing to the next
Bottom which is down here at the 8,500 area or so uh you know 8 9,000 or so depending on when we come into contact that’s 82% lower from from our 48 thou or 49,000 high but the bottom is at the trend line of the previous bare Market
Lows it was over here okay giving us the higher low okay it was over here right there and I believe it will be here and again this will take us to a lower low this gave us a higher low this is different this is a five-wave structure
Down these were three leg three leg structures down over here in these previous bare markets this is a five leg structure down so you likely have the a larger ABC move now we had two trend lines we were watching again the blue trend line we broke that trend line we’re we’re just
Under it right now back testing it okay bouncing off our 100 period moving average the other trend line was a trend line that was our previous Rising resistance right here which was forming that Rising wedge pattern but we pushed up through that resistance and then again the 38,000 area the the 61.5 on
The linear scaling was at on the uh log scaling was uh 9,000 I told you if we cleared that Lev then again then you got potentially a channel that could take you to 48 to 50,000 which we’ve talked about at Great length in detail so we violated the
Dotted red line that trend line of previous Rising resistance and the blue trend line and we’ve come down to the 100 period so if we can uh now we’re getting back above the dotted Red Line right there back above that area and if we can clear the blue line and the
Moving averages and the 50 and the 20 period moving average then you can get a bigger uh rebound if those levels act as resistance and we take out the 100 then you’re you’re at risk of the 200 here or the trend line as I’ve talked about or horizontal uh support now previously
Resistance turn support again at the 32,000 area so it’s really all about support and resistance and why we called a top was because predicting we go up into these resistance areas and turn the upper channel here and the TR trend line I showed you those lows pointing to the
Next high and all the rest of it again if you can get the traction back up you get a bigger rebound now if I’m wrong about this being a top we go back up and we hit this trend line again and back test this trend line excluding the
Shadow and again that takes you to the 50,000 area are 78.6 Fibonacci so if I’m wrong about the top then you get a top like what we had with the Bitcoin Futures ETF where you drop and 3 weeks later you’re back up there testing that high but you’re again as I’ve said we’ve
Already had the negative diversion so guess is that that the top is likely in with our Rising wedge here and again hitting the resistance levels I’ve talked about but I’m open-minded to that scenario happening as again I think it’s more likely the top is in and that’s why
I have the guts to tell you exactly what I think but again I could be wrong about that and if I am then that’s a scenario that we need to be watching for and if it did happen it would suck more people in just like it did back up at 69,000
Back up at the 2021 top important trend lines here we clear them we clear the 50 you go higher then you’re going sideways turn down below the 100 period you build upon the selloff and again those remain bearish telling us we’re either going sideways or we’re going down if we’re
Going sideways we can get a bigger Fibonacci retracement right now