Bitcoin Price in Dangerous Territory (Key Levels To Watch)

bit boy crypto morning tea good morning everybody it's july 16 2021 my name is piano maddie beam this is your morning ta a brief glimpse into the crypto markets where the sun shining where the winds blowing all the humble opinion of this rhodes piano [Music] well yesterday right about this time we saw price action test our triangle support level of 32 6 which is also the 23 fib level after a couple hours of i think i can i think i can it thought it could and it jumped down to 31.8 and i remember saying that if you're so darn tootin would even check out the drink specials down at 31.5 and it did now drunken high on life it saw its old pal the 20-period moving average and thought let's let bygones be bygones and with a little bit of liquid courage and a whole lot of booze breath sat next to him at the bar started telling the same story over and over again now as much as the 20 period average loves stories about the good old days hell one might say all the 20-period moving average does is tell stories about what happened 20 periods ago that's why it's called the 20 period living anyways they started arguing about whose favorite sports team is better and even though each of their teams consisted of millionaire 20 year olds from around the world they were fiercely loyal to their home team [Music] and at this point price action became dark side drunk and he left the bar now we know that bitcoin loves to party on the week and that's no secret even in these sideways times of channel chop suey we usually get a little bit of action on the weekend now i don't like it when bitcoin starts partying on a thursday tends to make me a little trepidatious and that's a big word i know a lot of times when you start saying thursday is the new friday you open up the party gates and there's a high probability you may wake up in the drunk tank or at the very least do or say something that you'll regret it'll keep you in a shame spiral or in this case below our triangle support which is now again resistance and one eyeing that support level of 30k egads [Music] now price action continues to party in the shame spiral he starts meeting up with his old cronies that he used to work with at the department of momentum here are some high probabilities of where it might end up first we know it's been eyeing the 30k channel support level for a while now so it will likely knock on the door remember me it'll say and being the sick d-gen it is that will let him in with open arms now if they don't both pass out here and sober up they're going to start one eye texting the 50 fib extension level of 29.2 and it's been a while since they've all seen each other so he'll be more than happy to join the party and it doesn't care if it's 4 a.m it's just happy they reached out so now we have price action the 30k support level sitting in the 50 fib extension mom's basement talking dungeons and dragons and lamenting on the ones that got away [Music] and at this point the sun's starting to come up the guilt's kicking in what have i done why did i do this and how do i get the hell out of this basement and that's when the 61.2 percent fib extension shows up with a bag of mushrooms and they start wrapping it around real proper like now from time to time i've sacrificed my virgin eyes and ventured into the comment section and i must say it's quite a eclectic mosaic of really nice comments and thank you for those i appreciate that and some very uh constructive criticism i think you could call it i also thank you for those much appreciated but for anyone who can't tell if i'm bearish or bullish or just generally flip floppy you're right because i'm a bear bull agnostic what's that i'm a market sociopath with zero emotion zero attachment i look for probabilities and i disregard the noise this is what i feel it will or should do no this is not a liberal arts college hunches and gut feelings leave you strung out on the corner of wrecked and broke street don't listen to guarantees they don't exist just stack probabilities and don't get married to anything trust me i've been married who do you think came up with the term market sociopath that's right the ex-wife did now when i stack probabilities on these charts here's some things i don't like i don't like the fact that we've continually tested and broke support don't like that [Music] i don't like that we've only had lower highs and lower lows either i don't like that who does but most of all i don't like watching good people falling prey to bad fud i don't like seeing brave people being scared out of sound money and fundamentally speaking it's all bad fud to scare you out of your sound money [Music] now here's some things i do like sriracha on everything including salad and if you haven't tried it well you should do yourself a favor [Music] minimum four cups of black coffee in the am because black coffee captures the essence of what coffee is and what it should be and if you put cream and sugar in yours that's fine i'm a silent judger i also like the mountain of positive fundamental divergence that's accumulating in the tsunami of geish that's coming our way and finally i like the fact that everyone here whether you're in a 1k obviously or 65k history will show us as front-running early adopters and you can take that to the bank oh wait there won't be any banks left soon maddie b are you darn tootin yeah i'm darn tootin all right now listen everybody i'm obviously hella bullish on the price of bitcoin long term hella bullish but make no mistake the path to that price appreciation will be filled with high jinks and calamity [Music] like the premise of any really good 80 sitcom [Music] remember we're playing the same game as our psychopathic elected elites that's right it's the long game so zoom out and have a fantastic day and it's friday so sing me out a three four [Music] have a great weekend everybody

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