REVERSAL Starts with Leaders Jumping, Bitcoin Price Chart and Altcoin Market BOUNCE, Entries Made

REVERSAL Starts with Leaders Jumping, Bitcoin Price Chart and Altcoin Market BOUNCE, Entries Made

[Music] hey what’s going on everybody this is the blockchain backer bringing you the latest cryptocurrency news and Analysis today we’ve got a little bit of a bounce over here on the Bitcoin price chart and really I fully anticipated to be making a Bitcoin video today but we’ve spent so much time over the last week really talking about others every video deep diving into what’s been happening in here and the sweep of the lows to happen I won’t Force you guys to watch replays of that in this video you caught that throughout a lot of the past videos everything has played out with the sweep of the lows the shift back up a little bit of a pullback but we’re already catching some strength over here in others as I had mentioned once we’d start pulling back I’d start making some of my entries I did get some of my entries in I still have some yet to try to get themselves stopped back in here at this High however I would say 60 to 70% of my cash is already entered in now now what we’ve been looking for is to see that we would get a reversal off of here and we actually are already seeing the signs emerging in the market that it was a reversal that happened right here even though we still sit way down here there are signs and obviously one of the places we can see it here is on one of the big boys right here with salana that was a nice big Pop That happened right there goes and takes out those Wednesday and Thursday highs over there pop right on out of there very obvious to see that trend has obviously changed in here doesn’t mean we won’t waddle but clearly the trending of down has shifted directions right there on the sweep that just happened a couple of days ago as we had others come in and do the sweep and as you can see others has not yet gotten itself back up in there but we’re starting to see signs already emerging of it doing it you can also see that happening over here on polka dot now lots of these coins still sit down in here not taking out these highs yet from back on Thursday whether it’s hyera madic or chain link we’ve really seen a lot of the same behavior and we’re getting some price action to show up of what happens when reversals are occurring so so far so good I’ve been making a lot of entries into the market over the last 24 hours even stuff that has not taking out those Thursday highs and even though we haven’t seen others escape out of here just yet we’ve seen all the phases that we wanted to we have already seen a pullback it is questionable if we’re going to pull back down further in here but some signs have already started that the downside action of this move ran out of steam back here on Monday right as we swept the lows as we had been looking for all last week for that last flush here it comes to go take out the low and then be able to reverse off of that low typically don’t follow a price action this close however when we’re looking for reversals which is the thing that I’m really always looking for on this channel it’s very infrequent that I’m making much action on my portfolio I don’t really enjoy doing day trading but we were at a level with price action that is typical of what happens when the trend is ready to reverse and we’re starting to see those things start to show up in there where salanta is now taking it out and polka dot is now taking it out we still haven’t seen the rest of the market follow so there’s still stuff out there that is discounted and so I’m happy and nervous to say over 60% of my C has been entered now one thing that was also interesting in regards to the Confluence of us being down here at this level and trying to see a reversal come out of here even in markets in the morning yesterday we caught it we were seeing the dxy get back to that 106 level that’s that danger level where we’ve seen if it breaks through that that’s when markets are typically breaking down and not good but it’s also like the extreme level it’s like all right we get back here if we can reverse from here that’s a pretty good sign of a bottom because we’ve reached that extreme and so fortunately today we are seeing a pullback down happening over here on the dxy after getting itself to that extreme yesterday but as we know this has been a big knockback for the market ever since the altcoin market hit the 702 Fibonacci retracement level we’re showing signs of what happens when we reverse from the bottom as we’ve talked about in past videos like yesterday and markets in the morning and all that stuff that we talk about with macro we’re looking for reversals to work its way up in here but we’re still going to be left with that stuff when we get back here on retracements or expansions and that’ll be stuff that we’re talking about in the future I’m certainly cheering for expansion that’s what we all want it’s what we all come here for but we’ll be talking about those things as we get closer to them otherwise we’ll see how long this thing has to work itself out down in here the good things are we just are seeing the exact things we would want to see happen already in the market for evidence of reversals happening off of those lows after getting ourselves The Sweep as we already see over here on ATA and over here on polka dot so I think we’ll keep today’s video pretty light tight and bright and pretty short the main theme for the last week has been about sweeping these lows about getting to that YOLO One settled still working out the settled part happening in here and it’s one thing to just kind of draw the lines and have the lows get swept and and shift around in the range but it’s nice to see a little bit of confirmation come out in the market with some of these assets already starting to break to the upside so my yoloing has begun inv validations and concerns come into play upon dipping below the low set there on Monday which as we can see on some of these assets is getting pretty far away so we’ll keep it quick I hope that you have a wonderful day I hope you’re feeling a little bit of sigh of relief I know I am and otherwise we’ll wrap this thing up and I’ll have a nice Thursday summer day hanging out with the kids but if you’re looking for some additional content you can of course check out the newsletter over here at blockchain back. substack 2024 with the high total value locked High development activity have there been different metrics that have been winners so far versus rather than just going after the top 20 by market cap comes with a 32-minute audio recording and of course if you sign up for the newsletter you get access to all the past ones as well where we really dove into this with like a four-part series of course you could check out BCB backer.com with over 40 videos and 11 hours of content otherwise I’ll check in with you guys tomorrow now like we talked about over there on the live stream one thing that we have noticed is that by the time we get to theek weekend the weekend gets pretty boring so we’ll see how this action plays out for the remainder of the week but for like the last four weeks we have seen that once the US Stock Market closes there on Friday afternoon we tend to go boring all through Friday night and all through Saturday so we’ll see what kind of action we can get here for the next 36 hours or so but the weekends have tend to be pretty chill so another reason to look forward to the weekend but all right guys that’s going to be it for this one thank you so much for watching if you could please like this video and give it a thumbs up if you are new to the Channel Please Subscribe and hit the notification Bell so you can be notified of when I create new content and when I go live as always this is not investment advice and I am not a financial adviser but if you ever need a pick me up or a little bit of reassurance just remember that the blockchain backers got your back have a good one [Music]

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Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.

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