Bitcoin: In DANGER Of A Brutal CRASH! – Here’s The TRUTH. (BTC)

Opening Statements 0:00-0:34
Wolves Of Crypto Paid VIP Group 0:34-1:07
The Cycle & How A Drop Would Effect It 1:07-2:52
Short Term Isn’t Important Here 2:52-4:06
Bitcoin Is Moving TOO FAST 4:06-6:32
What Bitcoin Needs To Do To Be Bullish 6:32-7:00
The Downside Targets 7:00-10:26
Discussion On Narratives VS Evidence 10:26-11:22
What Would A Drop Look Like For The Broader Market 11:22-13:44
Discussion & Conclusions 13:44-16:11
The Bitget & Bingx Exchanges 16:11-16:43
The Crypto Academy’s “Become A Trader” Course 16:43-17:20
——————————————————-
(15% lifetime trading fee discounts with links below)
💰Bitget Referral Link (KYC, global excluding USA & Canada): https://partner.bitget.com/bg/wolvesofcrypto
💰BingX Referral Link (global non-KYC): https://bingx.com/invite/4YE73L
👑 V.I.P Trading Group: https://t.me/+t1YtPSmID1ZlNGVl
🎓 The Crypto Academy Website: https://www.thecryptoacademy.courses/
——————————————————–
Business Inquiries Contact: wolvesofcryptocontact@gmail.com
——————————————————–
LEGAL DISCLAIMER:
It is worth noting that this video, as with all Wolves Of Crypto content, is a representation of my personal opinions on the market and should in no way be considered direct financial advice in any form. I am not responsible for your investment decisions or outcomes, analyse the charts for yourself before proceeding with a trade. This applies to every investment decision in cryptocurrency, stock market and any financial market – including investment decisions directly related to Bitcoin BTC, Ethereum ETH & any other altcoin. This also applies regardless of the wording I use in my context or posts.

Ladies and gentlemen in this video we’ll discuss the short-term glimmer of hope for the Bulls and the potential for that glimmer of hope to progress into an actual recovery but then we’ll also dive into the cyclical structure for Bitcoin doing a well-being check on the cycle

How do we look and what do we need to see would Bitcoin benefit from a drop is the main question we’re answering today and also How likely is that drop to occur currently it’s looking quite likely ladies and Gentlemen let’s get into it before we get into the charts today

Let’s check out the VIP group on telegram on telegram we run a VIP Trading Group we trade altcoins three to four times a week and we have a 24/7 group chat with 120 members so if you want to get altcoin trading signals make some money on altcoins and also discuss

The market whenever you want with members of this community you can do so on telegram click on the description link below will take you to this group on the screen here it also shows you the trading results to show you how successful we’ve been in there got a 78%

Win rate which is absolutely exceptional so check it out without further Ado let’s get into it today guys I want to quickly tell you right off the bat that the 4year cycle is intact right but if we trust the fouryear cycle which according to my YouTube poll most people

Do right 76% of you said that you believe Bitcoin will see a traditional cycle right with a four-year cycle you know beginning after the harving so 76% of you the majority of my viewers think right 76% so three out of four viewers think that we will see a traditional

Cycle as per four year cycle right and I will just say for 24% of you who don’t think that that’s fine you’re allowed to think that but I hope you understand that you’re making a prediction or you’re making an assumption without any evidence to back it up right so you can

You can it is possible to think something without evidence but you cannot act like that view is logically consistent right it’s not logical to believe something without evidence but you can have theories on things it’s completely fine to disagree that we’ll see a regular 4year cycle right I I

Don’t think it’s certain that we’ll see a regular 40 cycle but in disagreeing with it you have to admit that you have no evidence for it and so your position is blind speculation so this is where we get into that you know whole whole separate topic there but overall we have

A very solidly back for you cycle we have 76% of my audience agreeing we will see a traditional fouryear cycle and we have the fouryear cycle on the screen right here with the Bull Run starting after the harving which is the white line of the screen and the Bull Run

Topping in late next year so the Bull Run starts after the harving which means we haven’t started the bull run yet 76 % of you think we’ll see a traditional foer cycle which means 76% of you should agree that we have not seen a the start

Of a traditional bull run yet because we have not seen the harving yet which means the Bitcoin is overv valued it’s overpriced at this point it should not go higher at this point it should drop downwards now we’ve spoke about this so many times in the past but I’ll continue

Talking about it today I will bring up new topics as I go through with this like for example this triangle the screen here which we’ll bring up in a second but delete that yellow line it’s not relevant anymore what we need to discuss today is this right obviously

Everyone knows that Bitcoin has been in a vicious upwards Trend since September it recently broke into a medium-term downwards Trend it broke in about downwards Trend after we broke the 40K low all right we broke that low we saw a lower low right here right now we have

No reason to believe that this is anything other than a lower high okay so Bitcoin is in a bearish trend that doesn’t mean it has to be bearish it doesn’t mean it has to go downwards but it certainly means that is the direction right now we do have a pattern right now

That I need you guys to watch it is this triangle formation on the hourly chart it’s showed on the daily chart let’s zoom in and look at it on the hourly chart triangle formation that is a bullish formation believe it or not it is a bullish pedant formation and so a

Lot of bulls are speculating about that break to the upside um look I will say that bullish formations do generally break to the upside but I will also say that it doesn’t really matter what matters to me is this what matters to me is whether Bitcoin closes a weekly

Candle above 43.8k or not and this is something I’ve repeated like a broken record for weeks now the fact of the matter is it’s very s it’s actually very simple if you look at it like this this right and I want people to really be uh breaking this down to a simplistic level

Cuz I think over complication is what gets you screwed up in this market to a certain extent Trends are very easy to identify what has the trend been the trend was upwards Trend until recently we broke into a downwards Trend we saw a lower low on support we’re in a period

Of the cycle where we’ve seen a dramatic gain on bitcoin a gain of you know 97% without any proper correction yeah we’ve seen a 21% correction but overall as we’ve discussed in multiple videos recently we have seen now the longest time on bitcoin without a 25% or more

Correction since 2011 right we haven’t seen a 25% correction or more for the longest time since 2011 when Bitcoin was less than $1 in value the fact of the matter is this 21% correction in my opinion and the op opinion of most respected analysts that I see is not

Enough right cyclically speaking we’ve moved too fast all right we know for a fact now okay and we we’ve discussed this multiple times we know for a fact let’s bring bring up a fresh chart so I can show you what I’m talking about uh let’s see if I have my fouryear cycle

Chart I might have just gotten rid of it there oh here we go we know for a fact that Bitcoin is not really meant to be breaking all-time highs until November or December this year that’s that’s a fact that’s that’s as per 4E cycle as per a developing Trend within 4E cycle

It takes 1,100 days for Bitcoin from alltime high to break the prior alltime High developing Trend but it is still real right and so with that said we’re at 49k all right we’re at 49k in January if we go upwards from here we could be at 49k again within this month and then

If we break 49k what do we have if we break 49k Bitcoin doesn’t really have much left to break it only has to break like one or two more levels and then all of a sudden we’re at all-time highs if Bitcoin breaks 49k we could be at

All-time highs within a month or two right and so this is where I get into the main point we are moving too fast here Bitcoin cannot break 49k in within this month and remain cyclical uh structure okay we cannot maintain regular healthy foyer cycle if we break

49k this month in my opinion and so 76% of you would be forced to deviate from your cyclical predictions if Bitcoin was to break 49k this month right so this is really what we’re getting into now Bitcoin has moved too fast it’s moved upwards it’s seen an Impulse okay it’s

Moved too fast triggered by the ETF news it’s rejected from this level and it’s come downwards and now we are in a active downwards trend and people are flipping back bullish before we have any reason to do so realistically Bitcoin has to break 49k to flip back bullish on

A daily chart cuz it needs to break back into upwards Trend as well but at a bare minimum an absolute bare minimum bit Bitcoin needs to be seeing a weekly candle close above 43.8k which would break the weekly candle highs that we’ve made here and enter a weekly chart

Upwards chain because right now we are seeing consolidation top of a massive move and that’s not generally a good sign or it can be a good sign in certain scenarios but in this one it’s certainly not given the cical basis on top of this we’ve printed a pretty bearish monthly

In fact one of the most bearish monthly candles you can get really a bearish dogey candle at top of a massive upwards Trend which is a sign of reversal if we do see a red month here that red month will form an evening star Candlestick formation which would put us downwards

For a couple of months at least on bitcoin and then from there we can start to go upwards again right I do believe the bearish targets are still valid I do believe the bearish targets are still active what are the bearish targets right so let me just explain one more

Time Bitcoin is in active downwards Trend it doesn’t have to continue downwards but cyclically speaking it is likely to continue downwards given that we are in a downwards Trend we need to consider the downside targets what are the downside targets the downside targets are ranging from 35k to as low

As 28k now I think 28k is a ridiculously low Target but it is something that I’m seeing so I have to bring it up right cuz I’m honest in that regard but what I will say is 35k is completely plausible in my opinion and potentially even lower

What is the basis of me coming to those conclusions well I’ll show you right now and this is amongst other things by the way we have a uh I guess you could say it’s a trend or at least a cyal structure that forms on Bitcoin in every

Cycle uh you can see the red line on the screen is the peak of each dead cap bounce right each bull market dead bounce in fact let’s go to a monthly charts you can see it a little bit clearer here right so the red line is

The peak of each bull market dead cap bounce roughly at least you can see with the yellow line is the bull market support for each of these Cycles uh and what you’ll notice is that in the cycle that follows or before the after the bare Market we come back up to that red

Line that was previously the deadcat bounce peak of the of the bare Market we reject from that red line and we come most of the way down if not all the way down to the yellow line right so in 2016 we came almost all the way down to the

Yellow line in 2019 we came about 3/4 of the way down Co does not count of course CU it’s a black s event so we came about 3/4 of the way down if we were to do that again we’ve rejected from the red line which is a a good sign that we’re

Following that Trend at least roughly uh and if we were to go for example 3/4 of the way down to the yellow line that would take us to 35k if we were to go the whole way down that would take us to something like 32k both of those targets

Are backed up by horizontal support zones uh and 32k of course is a major support Zone in fact one of the biggest support zones Bitcoin has uh in its entire chart history right so anywhere from 35k to 32k as per this chart and we also have lower targets of 28k as you

Can see we have a Fibonacci retracement from the highs in 2017 to the lows in 2018 and the same thing from 2021 to 2022 uh you can see what we’ve done is we’ve rejected from this light green level uh and you can or this teal level

I should say we’ve come right back down to the red level and bottomed out not only on the red level but also on the Gori Channel Center Line if we were to do that again we’ve seen the rejection we would come down and we would bottom

Out around 28k maybe 30k right so you have these targets ranging from you know 28k give or take to around 35k uh and these targets of course not all of them have to be reached in fact as I said I don’t think 28 K will be reached I think

We’re looking at that 30 to 35k level but I can’t lie to you it is there on the screen uh all those targets are valid unless we see something that proves them invalid at the moment the only thing that I can see or the first step in the right direction of proving

Them invalid the first step in the right direction of invalidating those bearish targets invalidating the bearish trend would be a weekly candle close above 43.8k which we failed not only did we fail but we rejected from that level and then closed below it so I’m gonna be

Quite Frank with you right now I don’t think Bitcoin looks that great I think there is a glimmer of hope uh in regards to there is hope right in regards to the uh the triangle forming right here in regards to a potential inverted Head and Shoulders pattern but beyond those two

Things which are both short-term things I don’t think Bitcoin is not looking too great here and I don’t really know anyone that does uh either now I’ve heard obviously the bullish counter argument is that there’s no bearish narrative and there is not really no bearish narrative right now that’s

That’s something we have to consider and it’s something that I am considering but I also need to trust the charts right I understand there’s not really much of a bearish narrative right now that would cause people to sell the harving is very soon the bull market secet clears very

Soon we’ve just seen ETF decision there’s ETF buying consistently going on there’s a lot of bullish narratives not much bearish narratives there’s not really much of a reason for people to sell but at the end of the day that’s just speculation about what I think

There is what I know is that I know how Trends work I know our Trends work and I know that right now we’re in a downwards Trend and I know that in order for us to actually be in an okay position on ta we need to be breaking 43.8k the weekly

Candle which we’ve not done in fact we’ve failed to do on three separate occasions four separate occasions now we saw rejection on a weekly candle close rejection on a weekly candle wick rejection on a close rejection on a wick four separate occasions of rejecting from that level I also know that

Cyclically speaking Bitcoin could very much handle and would benefit probably from a significant correction a correction downwards to you know 35k a correction downwards to these lower levels they would be very healthy 16% from where we are currently that would reset the cycle quite nicely if you zoom

Out on bitcoin you can see who says that it would be natural right in a 4year cycle basis for Bitcoin to continue upwards right here who says that right that’s simply not true I mean Bitcoin is quite frankly exhausted from every metric you can look at if we did see

Bitcoin go down to something like 35k potentially lower but something like 35k let’s say we could see the altcoin market drop quite significantly uh coin market for example is already down uh around 15 to 16% it actually held up quite well in comparison to bitcoin of his drop uh so if Bitcoin dropped

Another what did I say if Bitcoin dropped say to 35k for example right just an example another 16% considering altcoins held up better than Bitcoin and a drop before let’s just say drops the same amount as Bitcoin we can see the altcoin market cap retrace to something

Like 600 million which would line up with the 500 to 600 million support we could see a you know 15 to 30% drop in altcoins it’s hard to say exactly especially at this time the cycle with Bitcoin dominance Bitcoin dominance for the most part would have seen the vast

Majority of it upwards moves I think for the most part we’re entering a transition period where altcoins are going to start to gain strength of against Bitcoin not gain strength but at least even the playing field I think that perhaps there’s one more pump on bitcoin dominance but for the most part

Here I think that it’s time for Bitcoin to start settling down uh and perhaps after this move around the harving like we generally see we’ll see altcoins start to really start to pick up and then specifically at the end of this year we’ll see altcoins really enterate

Altcoin season right uh but as of right now Bitcoin is still the dominant force in the market but that that is Shifting that is Shifting and so drops on bitcoin are not as brutal uh for altcoins anymore like they would have been in 2022 and last year so I don’t think that

If we saw a drop would be anything to worry about cyclically I’d only really start to worry about it cyclically if we drop below something like 30k uh something like 30k drop below that you’d be a bit worried because that is where we see uh the major support level the

Yellow line of the screen here that is the major support you know I know I said I have a Target at 28 but I think as I said 28 is a little bit pessimistic I’d be surprised if we went that low but specifically if we went below 28k well

Then in my opinion the foure Cycle’s over I I don’t see how Bitcoin could recover from something like that but a drop from here to something healthy like that would be as I said healthy beneficial for Bitcoin right now we do need to just focus on the immediate

Shortterm the short term in reality I know I’ve been very bearish leaning in this video I need to give you guys a reality check on the long long term the short term does not look too bad okay that’s the reality bullish penet formation potential inverted Head and

Shoulders we could go upwards in the short term okay but it wouldn’t mean anything and this is what I said before I say it again it would not mean anything unless we made actual progress on the medium-term and longterm short-term movements are all fun in games but they don’t mean much unless

You make progress in the macro right macro progress would come at 43.8k weekly candle close which would be in 6 days and 21 hours if we were to see it so a short-term move now would need to sustain 6 days above its next major resistance level which is not an easy

Task but we will keep an eye on it at this point in time the bearish targets are still active Bitcoin could still benefit from a correction Cally speaking we are still a little bit overvalued we’ll have to track and monitor how this goes what would I personally like to see

I would like to see Bitcoin drop right and people are going to say oh you’re biased then well I don’t think it’s really biased I think this is black and white to be quite Frank with you and I think people who say oh well then the

Majority is always wrong it has to go upwards first of all we can’t measure the majority that’s the simple reality and second of all the majority of people is not the majority of capital so that argument is obsolete at the end of the day the only thing we can really trust

Is the charts we can’t trust what we think the narratives are we can trust the charts and we’ve dis explained exactly what we need to be seeing from the charts 43.8k weekly candle close would be progress in the right direction until then bearish targets still active

Guys I’m not going to keep beating the same horse uh as much as I have been over the last few days here I will be making videos on different topics leave any video recommendations you want me to do want me to see you know what questions you want me to ask about

Bitcoin what questions you want me to answer about Bitcoin write them all in the comments section I’ll read them and perhaps I’ll put them in the next video guys thanks for watching I hope you enjoyed check out the bigget and BX exchanges Bing X is global non kyc uh

Very low trading fees never been hacked before the same can be said about bitg bitg of course is global kyc minus the USA with bingx being Global non kyc as I just said uh you can find information and referral links with 15% trading fee discounts and thousands of dollars in

Rewards in the description below for either of these exchanges so if you need a new exchange those are the ones you can pick and using my referral link helps out the channel and helps yourself as well by getting those disc discounts so check them out uh finally crypto

Academy become a Trad 10it course this will teach you everything you need to know about trading sparing basically a handful of things I tell you right now 90 to 95% of the things I use on a daily basis in analyzing the markets and trading View iuse news that is taught in

This course okay indicators Market battern technical analysis you know what is the financial Market what is bitcoin how does it work Market psychology how do I find trades what is my risk management strategies you know stuff like that it’s all in this course for a very cheap price in comparison to our

Competition check out the website the email address is there for contact guys thanks for watching I hope you enjoyed and I’ll catch you tomorrow