DO NOT GET FOOLED BY BITCOIN NOW !!!

DO NOT GET FOOLED BY BITCOIN NOW !!!

okay so it’s post fomc the federal funds rate unchanged uh but Bitcoin did have a very very volatile press conference so uh we were live streaming the entire event thank you so much for everybody that tuned in it was absolutely fantastic for future streams make sure to turn on the notification Bell subscribe leave a like while you’re at it but we had a double bottom we had the Target 59k and after hitting this place Bitcoin had a reduction in price I mentioned that approximately after an hour from the press conference Bitcoin does tend to have a decline so we hit support and we formed a descending broadening wedge now just a couple of hours ago in the morning I shared in the crypto kids telegram that Bitcoin is forming a descending broadening wedge and our bullish Target is going to be the 59.2k level so Bitcoin just a couple of hours after we broke towards the upside and now we’re sitting at the current price Target so what is going to be happening next for Bitcoin that’s the primary focus of today’s video we have a couple of moving averages that Bitcoin saw well we saw one test and will that be enough to push Bitcoin back towards the upside or is it still game over are we still looking at a 52k possibility but apart from the technical analysis we do have a couple of breaking news which I will start off with just as an exception for today because it is pretty significant so we saw outflows from Black Rock if you’ve been watching the past two three videos including the live stream I was calling outflows for today so so Black Rock I was calling the outflows and we did see it at $ 36.9 million now before you panic um I am actually happy on how the price held up after we saw these outflows I did believe that after seeing Black Rock outflows the market would further panic and we could continue crashing towards the downside but it is an absolutely beautiful thing that Bitcoin did not get faced by it and we are keeping healthy so the reason why we did end up seeing outflows on Black Rock was because you know we fell down consistently for approximately 5 to 6 days people were selling continuously so they had to destroy shares leading them to sell their Bitcoin but Nate put it beautifully here I mean if we look at the Gold ETFs uh the black rock gold ETF in particular we had $1 billion worth of outflows this this year and regardless gold is up 16% year-to date so it’s not something that influences the markets Sal lot James saart in our interview he said that look outflows inflows are going to happen in the long term the inflows are usually exponential so it goes up in a parabola but um the outflows don’t really impact the market I think when the ETF hype was the only narrative uh driving the Bitcoin momentum upwards yes it was kind of creating this Loop where inflows created huge price moves towards the upside and then outflows created huge price moves towards the downside I think we’ve escaped out of this Loop and if you realize I mean Bitcoin has fallen like 16% in a matter of just a few days now this is not a full comprehensive breakdown since January 11th but uh what I noticed now is that when Bitcoin dumps the outflows that we experience are way way way way less significant compared to uh when Bitcoin increases and the amount of inflows that come in I think that is again a very very bullish sign and I’m super excited that you know even if we had 500 something million dollars in outflows I think the market is not getting faced by it in the immediate short term so I think this is a very good sign now going on to different ETFs we saw that the Hong Kong spot ETFs had $292 Million worth of inflows and this is wrong guys and girls this was preceding so the ETF issuers purchased this Bitcoin by themselves before the launch itself so Hong Kong spot ETFs are not seeing this many inflows technically because this was done uh before the launch uh through the ETF issuers themselves but before I continue with the news now we can jump back into the Bitcoin analysis uh and have a look at the short-term time frame so if Bitcoin continues pumping from here I think uh Bitcoin does actually want to retest back into the 62 61.5k territory I think the price action is calling a retraction or actually you know a push towards the upside to hit this kind of resistance level so if Bitcoin does continue pumping here I think uh this range here between 60.8 to 61.7 could be possible but keep in mind I am still bearish in the midterm so if we do end up seeing a retest I think Bitcoin can continue dumping towards the downside um but the weekly candle close is super important if Bitcoin closes this weekly candle below 59.5k then the parabolic SAR cell is going to continue right the parabolic SAR is super important for me because in the prior alltime highs when we did see a signal flashing for parabolic SAR cell the price of Bitcoin entered a bare market so unless the price of Bitcoin does not close between uh or below 59.5 so if we do see a closure below 59.5 then I’m bearish that’s it I think Bitcoin will dump back down to 50K and I made an incredible interview with a very very famed analyst in the traditional Finance space which I will be posting tomorrow so stay tuned he kind of calls for a similar thing so Bitcoin did yes it did hold the 20 period moving average on the weekly time frame I think this is significant that is why I’m saying Bitcoin can potenti Al pull back into this region just to find that support on the 20 period moving average but still in the midterm which is in my opinion the we weekly time frame I think Bitcoin can continue and find support at the $50,000 to $52,000 levels as that is where a lot of demand for Bitcoin is and we have a lot a lot of indicators and oscillators pointing towards that price level so if you are looking to buy the dip I think right now 59k beautiful buy the dip opportunity 56k like I mentioned yesterday and everybody was laughing in the comments that was also a beautiful by the dip opportunity I think 52k will be the final final one I know I’ve said 47k but 47k is definitely also possible you know retesting this March 2022 resistance would be beautiful but um you know let’s see what happens right let’s see what happens I think I think 47k if it if it does come true it is more of a selfish request more so than a massive probability on this chart where we looked at the 2015 support resistance line uh I said yesterday that Bitcoin will likely find support at this bull and bare Market support band because we tend to do this in every Hing cycle so that is exactly what Bitcoin has done if we do not dip below like 54 52k then we’re good I think Bitcoin can still continue its trajectory towards the upside uh but you know we do look at the Fibonacci retracement and the reason why I was saying 52k has a lot of oscillators indicators different technical analysis patterns lining up all in one place is because the Fibonacci retracement the golden pocket is also sitting in between 52k and in the previous videos I mentioned that the volume the vvp is also sitting at 52k I would not be surprised if Bitcoin dumps to those levels I mean comparatively that would be a 29% drop and in Hing Cycles Bitcoin does have like 30% 40% Corrections so I think it would still be healthy it would be beautiful for Bitcoin and I will be going heavy long if Bitcoin does hit those levels I’m still in a long position that we’ve entered together by the way at 43k but at this point I’ll probably open like a $200,000 position so stay tuned um I will be looking into doing that but the golden pocket would be beautiful I think that could be the final buy the dip opportunity apart from $47,000 if we look at the stock market the reason why Bitcoin is also rebounding today is because the SNP is also seeing a slight upwards tick in price action currently the price of Bitcoin and the traditional stocks are heavily correlated in price so if you want to look at Bitcoin and where Bitcoin can be headed then I would definitely have uh a a particular analysis set on the S&P 500 at the same time this is devastating uh so this is not a random meme coin it’s not a random altcoin this is Coco so for the past few months we’ve been following two different kind of meme coin Commodities because Commodities are going through the roof uh and those two are cocoa and orange juice funnily enough coko is having an absolute catastrophic fall in price uh after like a since you know 2020 after seeing like 43% in an increase in price for all the chocolate lovers this was devastating we are finally seeing a dip and a huge dip but very very funnily enough orange juice is not experiencing anything like that as a matter of fact we are forming a bullish Penance so that is rather bullish but I just wanted to mention that because I think it’s super funny uh imagine orange juice goes like the Moon that would be crazy it’s already at the moon but imagine if it continues higher I still have a couple of boxes of orange juice by the way I was not kidding when I said I bought a lot of orange juice boxes back when we were joking about it but let’s go on into the rest of the breaking news uh I do have another concerning thing actually uh so if you’ve been watching or not watching but kind of reading my research reports you would be familiar with this graphic um I posted this a long time ago over on Twitter I think it was um this was posted like at least a month month or so ago and this graphic looks at the long-term and short-term buyers of Bitcoin it’s usually a very good indicator of a top or bottom of a cycle because you know at the top long-term holders tend to decrease their Holdings whereas short-term holders are at are at their peak in terms of how much Bitcoin they hold and until they curve towards the downside or towards the upside depending on which one you’re looking at uh then we can assume that the actual price movement of Bitcoin or that particular asset can continue heading towards the upside now if you look at the updated version of this chart it’s a bit concerning because you can see that the shortterm uh accumulators of Bitcoin are starting to curve right and the long-term holders have already been selling for a quite extended amount of time this is not a good thing at all and keep in mind the price of Bitcoin here is still considered to be at the $60,000 level so it’s not updated to the latest prices um and this could be an indicator of a short-term price top in terms of onchain analysis so I wanted to point that out because I’ve not been talking talking about onchain data for a while on this channel and I really do want to bring it back now going into the Fe fear and GRE index in the live stream yesterday we were sitting at like 50 or 60 I think it was at like 60 something and I was calling for a 40 today in terms of fear in the market again I think it’s a beautiful opportunity to dollar cost average into Bitcoin because the time to buy an accumulate is always in a time of fear but looking at this uh currently we’re seeing BM BNP parabas one of the biggest in fact the second largest bank in Europe they have announced that they bought some uh Black Rock no no not Black Rock particularly but they do hold some Bitcoin ETFs going in towards May 15th that is the final deadline for all institutions to post their q1 Holdings of different assets we will be seeing more and more uh Bitcoin ETFs being held in institutions as a matter of fact currently I think like 155 different advisers and institutions have said that which hold over $100 million they’ve said that they hold Bitcoin and Bloomberg’s prediction was like 7 or eight so 155 before the final deadline is kind of absolutely mindblowing so I think the long-term future for Bitcoin is definitely very much positive and I think we will be going into the 100K region and it’s super important not to flip completely bearish right now because I think that the market is not completely bearish that’s just not the situation yes eventually the markets will go into a huge recession but um I still think that you know you know the the the S&P 500 and the Dixie and uh you know all other assets they still have at least another year or so to kind of go into that recessionary phase at least um let’s wait until the elections going into the elections the market will continue to perform most likely but after Trump goes into office uh then we may we may be seeing some struggles as uh he wants to do a lot of things and uh the things he wants to do in the macr term will impact the economy in a very negative way and the the kind of Bitcoin manager at Black cck is saying that Sovereign wealth funds and pensions are all interested in buying Bitcoin so again another very bullish thing in the macro future in terms of capitulation people are asking okay what’s happening with the with the short-term buyers the midterm buyers the long-term buyers when are they going to be capit capitulated and the answer is for the Bitcoin ETF buyers the average buying is between 57 to 58k So currently they’re on a very small profit then falling below 5758 would cause all Bitcoin ETF well not all of them but on average for them to be at a loss so I don’t think the big institutions will allow this to happen so they’ll probably try their best to keep the price above these levels as much as possible so that’s why I’m saying even if we’re expecting a 52k Bitcoin now is also a potential good buy the dip opportunity as we’re still trying to be in the um you know base four of the parabolic structure but I talked more about those uh on previous video so I won’t get into that CU that could literally be an entire video uh and if we look at the average me andu you know the uh Average Joe buying Bitcoin we can see that the one we to one month holders are already in a huge loss the 1 month to three-month holders they’re also in a loss but still the macro holders the whales and uh the the the ogs and Bitcoin they’re still in huge profit so yes the weekend may be selling and the reason why we’re getting this huge fear in the market and people saying it’s over is because all of these new entrance are creating fear and saying you know they’re in a loss obviously so they’re saying screw crypto I’m leaving but you know the the long-term guys already know that this has been a huge increase in price and of course a reduction was due so we’re not really worried at all and the final final thing to go through is that tomorrow we have the unemployment data very funnily enough like very very funnily enough we saw Powell or we actually heard Powell say live that he doesn’t think the Stag or deflation is a possibility but that is kind of outrageous because we’re seeing the amount of new US job openings dropping to um incredible low levels ever since 3 years so the amount of new jobs available they’re at drastic lows we’re seeing full-time jobs actually reducing right I think it was down 6,000 the last time and part-time jobs is what is carrying the US non-farm employment rate so it is just completely skewed data they’re choosing and they’re mixing and matching things to look good so unemployment the employment data completely trash at this point in time people with more than two or more jobs is increasing to old alltime high levels people cannot sustain their lives so they need to pick up another job and get an extra income and don’t even get me started on the amount of inflation we’re seeing across normal goods and services especially in food prices that’s why Coco is at an all-time high that’s why orange juice is at an all-time high butter is at the highest level since God knows when so these are all terrible signs and it is literally the definition of a stagflation and in a time like this the stock market would be falling uh pretty heavily so just a thumbs heads up on that but for the rest of these I will go through on the next video tomorrow so stay tuned I have a very cool interview coming up at the same time it will all be incredible so yeah just uh wait for tomorrow leave a like on this video subscribe and again don’t forget to turn on the notification Bell to be alerted as soon as this video is up but guys and girls have a great night and I’ll be seeing you all very shortly so take care everyone and bye-bye

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Timestamps:
00:00 Overview
01:20 Spot ETFs
03:54 Bitcoin Analysis
08:12 OJ & COCOA
09:10 On-Chain
10:37 Breaking News
14:07 Macroeconomics

#Bitcoin #Crypto #Trading

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