Massive Bitcoin DUMP Here’s the TARGET – 3.2 Million Unemployment – 2 Trillion Dollar Stimulus

hello baby here Bitcoin is now starting to drop here inside of this massive bullish wedge that's been forming here since June of 2019 as we can see here with the 4-hour chart if we were to zoom in on this chart we can see right now we massively dumped today over 10% and we are heading towards the support level of this flag and my target right now is going to be this area here where we've got the 200 week moving average as you can see with this dotted gray line alongside with the support here that's been acting as a support since June of 2019 inside of this beautiful bullish channel that's forming here if we look at this chart here you can see we've got this bullish channel forming and of course markets are following equity markets so there is a very very very good chance here that we're gonna see a bounce at this level as long as equity markets do not see continued lows and so I wouldn't say there is a bearish scenario in the macro or long term but as we've talked about in our last few videos over the short term and in the medium term there is definitely a bearish case right now for Bitcoin to still see some lower levels possibly heading back down to that 5550 area where we've got that 200 week moving average here in the gray and then we've got the support level of this flag now if this area ends up breaking that could be very detrimental for Bitcoin over the long term but I'm gonna talk about why I don't think that will happen based on this major jump that we've seen with traditional markets over the last few days of course today we did close in red but at the end of the day we're seeing a massive quantitative easing measure being implemented by the feds as a stimulus to our economy during this global pandemic and we're gonna look at unemployment numbers as we have hit 3.2 unemployment claims just this week alone and that is starting to break record and of course we are gonna potentially see more unemployment claims as more businesses shut down during this global pandemic but knowing that equity markets have seen this recent bounce I'm very confident that Bitcoin will most likely find support along this 5550 area at least for the short term for us to assume that we will continue a bullish break to the upside and finally go beyond 7,000 as we know is a major resistance level right now with the macro falling wedge that is forming as well here if we were to pull up that mackerel falling wedge we can actually look at several different levels of support and 7000 is a very major level now what is also interesting about this is if we look at volume here you can see when price action went down to that 3990 area down to around 4,000 we saw even more buyers here than sellers and so we know everywhere in this region is a very very good region where we have massive buy pressure and we can even see that depicted by the volume chart to the right as you can see in that white area you can see we've got massive volume here and so knowing that I do not believe we will see price action back down to those levels I know a lot of people have been wanting to get back down to that $4,000 level I just don't think that will happen due to the fact that we know there's massive buyer volume here and even in this lower region of that $5,500 area where we have that 200 week moving average we know there's also massive amounts of buyer pressure as you can see here with a lot of green when it comes to volume and so knowing that I believe that we may come down to test this form a lower low and potentially form a pattern here where we've got this support level holding and then a potential bounce from that area I know this chart doesn't look the best here I'll go ahead and clear this out as a matter of fact I want to show you this macro chart but first and foremost I want you to see the micro support levels that I've drawn out here you can also see this green here is that 200 week moving average and of course you can see even below that torrid week moving average we've got major levels of support each one of these dotted lines are a major weekly support or resistance levels from the daily and weekly chart looking back all the way to the 2017 run-up and so knowing that we've got all of this pressure here and all of this volume as you can see here I don't believe we will go into this area I think this was a very very good accumulation zone for those that got positions in but for now we'll see a push down to that 200 week moving average where will most likely see a bounce and from there we can determine whether or not we'll see a bullish break and a continuation to the upside when we look at other numbers here you can see with hash rate we're starting to come back up which is really good especially as we approach this upcoming hall thing I know I say that weird so don't get on me like every other video I say we've got crypto brand Shawn Peter and Matt Z beats in the house good to have you guys on the live stream but once again that holding is coming up soon and so we want to see these hash rate numbers starting to increase which shows minor confidence in Bitcoin because we don't want to see a minor computation where nobody ends up wanting to continue mining Bitcoin because it's unprofitable but as you can see we're seeing a nice bounce here and so we're hoping to see that continued of course looking at transactions per day we're seeing these lows continued I'm not surprised especially during the fact that we're going through this global pandemic there's just a lot left I'm sorry a lot less economic activity and therefore we can expect a lot less transactions to be on the blockchain itself and in person of course as we can see reflected by the economy and the types of numbers we're seeing with unemployment and so one thing I want you guys to see here is the crypto and fear index went back from 10 to 8 so that means extreme fear in the market and remember we want to buy into fear we don't want to run away from fear and so I think that's very positive for Bitcoin knowing that there's still extreme fear in the market and then if we look at traditional markets on the clothes for Friday you can see they had a great week there were two very bullish days we saw one of the best days ever in the market but of course that doesn't mean much when we've had some of the worst days and if you look at the past the only times we've seen the best days we're during the Great Depression and so knowing that of course on Friday we closed almost a thousand points down for the Dow and I don't think that's a good sign for Monday however we'll have to wait on Sunday to see how futures market open and of course I believe Bitcoin will also be able to stay above that $6,000 level in to the weekend and I think by Sunday's when we'll see a possible push to the downside to that – and Rick moving average and it might only be a wick to be honest with you guys and what would be really cool to see in my opinion is for a lower low you can see we've got I'll go ahead and draw this out here we've got one low formed here we've got another low forming here I'd like to see a lower low form here so we've got this descending level of support form and then a push to the upside because that could be very positive for Bitcoin but the good news is we broke out of the overall Bear Flag that was forming here where we've got this Bear Flag and of course it is a very positive thing here that we're finally breaking it out of that right now we're seeing some support here at 6,000 I believe we'll continue to see that support as you can see that's a major support line here and of course I think Sunday with futures markets opening if we see positive gains in the market which is very possible I think it's more unlikely though just because of the fact that we closed Friday so low but if we do see higher numbers then of course I think that would be the time Bitcoin would go ahead and see it run up but it could possibly be that Monday is also a down day for Bitcoin until we start to see more and more quantitative easing and stimulus implemented by the feds that may allow traditional markets that continue up and by the way the reason we're seeing a run-up with markets in the equity markets in the S&P 500 in the Dow is because if we look at the feds balance sheets they have come to historic levels of holdings in the market you can see surpassing five trillion dollars with this recent two trillion dollar stimulus package that was implemented and that is very bad for our currency over the long term because it really starts to inflate the dollar and investors are all going to be looking for a deflationary asset if the US dollar is going to continue to lose its value and that's where Bitcoin comes in I was reading an article today which was very interesting and talking about how if Bitcoin does not start to see a run-up here soon then it may be the end for Bitcoin because this is why bitcoin was made and I believe Bitcoin will prove itself as it always has in the past because this right here is ridiculous to see over five trillion dollars in our central bank you know being you know injected into the market all of this quantitative easing and stimulus all that's gonna happen is we'll see all of these other major banks like the Bank of Japan the the Bank of China all of these banks are going to follow the US and also inject more into their economies and that's just going to create an artificial value for all of these economic numbers that an end won't mean anything when our value of our currency is gonna just continue to drop and everyone's gonna be looking for a deflationary hedge against it and really the ones that hurt the most are the bottom 50% because those are the people holding cash those are not people holding assets the people holding assets are gonna be fine because asset prices will go up as we start to see inflation in the US dollar but we're it's really gonna screw over the people in the bottom 50% we're already seeing that as you can see here with the feds chair Jerome saying we may well be in a recession you can see it says the virus is going to dictate the timetable the sooner we get through this period and get this virus under control the sooner the recovery can come the Federal Reserve is working hard to support you now our policy be very important when the recovery does come to make that recovery as strong as possible so as we've talked about we're expecting a strong recovery but if we look at the recent two trillion dollar stimulus there was an act that was actually in there preventing the information request of the Fed the federal banks meetings which was a very very I would say controversial addition to the stimulus bill which basically means we don't know what the feds are doing and they are closing their doors to transparency when it comes to trying to find out what's actually happening behind the doors of the federal bank and so that in my opinion when transparency goes down that typically is not a good sign so you can see her says when it comes to lending we're not gonna run out of ammunition and that just doesn't happen and they're basically saying we're willing to print as much money as needed in order to get through this time and that's not a great solution especially as the u.s.

Is now leading in kovat 19 cases and so it's very interesting to see what's happening right now because this has never happened in the history of the United States or in the world this is a global pandemic you can see unemployment numbers the highest numbers ever recorded here 3.2 8 million and that in my opinion is very worrisome over the long term however I do believe that once we start to see businesses reopen this will drop drastically but for now this is only what's reported and you have to understand there are a lot of companies that are still hanging on to their employees and eventually if this goes long enough they'll have to let go and layoff employees as well and this number will continue to skyrocket if you guys don't know during the Great Depression we had a 3.1 percent unemployment rate in 1929 which was the first year of the Great Depression and of course everyone talks about the 25 percent unemployment rate of the Great Depression but that didn't really happen until 1933 and 1934 after we went from 3 one being All Time Low's pretty much and that's very similar to where we're at now if you look at unemployment rates from last year we were at all-time lows I think it was a three point two or three point one percent unemployment rate very similar to the Great Depression in 1929 and of course in 1930 we saw the 3.1 percent jump to 8% and then in 1931 we saw the 8 percent jump to 15 percent and then by 1932 we were at 25 percent and then 1934 25% unemployment rate and so just in the last week we've jumped from 3.1 being a historic low to over 5% unemployment rate and that's just with what's been reported with the record 3.28 million jobless claims that were filed here over the last week and so understand that that number is gonna continue to rise and as that continues to rise the $1,200 that the government is sending every American is not really gonna help at the end of the day because 1,200 isn't like losing a job losing a job is a lot more detrimental and of course I know I understand the economy is shut down right now everything's at a standstill which will eventually reopen but it's question of what understand the timeframe here because it's not dictated by us but it's dictated by this virus and so I think that there are a lot of questionable things happening right now but Bitcoin is a solution to this and I think that's why we're seeing Bitcoin already proved itself if you look at Bitcoin we're up over 75% from the recent low I'm expecting a great pullback and I'll tell you this right now for those of you watching Nicholas M charm and when lambo Sean when Bitcoin starts to go down and break 6,000 don't be scared to start dollar-cost averaging and buying the dips because what always ends up happening is Bitcoin dips and everyone freaks out and they're like oh oh might get more let me not get in but then when it's at 6,900 about to break 7,000 everyone wants to jump in and it makes no sense it's emotions trading is all about emotions and that's why you have to realize at the end of the day the fundamentals are there for Bitcoin I believe that in Vestas are gonna flock towards a deflationary asset as we start to see more economic stimulus being put forth by the federal bank and that continues to devalue our currency and now investors are going to need some sort of deflationary asset and with the Bitcoin Halloween coming out coming up in less than 50 days the supply gets cut in half demand either stays where it's at or increases and shoots through the roof and I say that because realize if you look at the balance sheets right now it's not just our bank at these huge huge numbers we've got pretty much every major bank in the world with major economic stimulus propping up their economy which is all artificial it's literally them printing money and saying well this is the stock price now and you can see yes we saw record days in the stock market over the last week if we look at the S&P 500 let's pull up the Dow since we didn't look at that yet you can see we saw a huge push up we're over 20% up from the recent low made by the Dow but realize this this is all happening because it's fake it's artificial the Fed's balance sheet went from 4 trillion to over 5 trillion now and so realize they're gonna continue to pump money into the economy which eventually will devalue the dollar even more and we actually saw that today if we look at the dollar values strength you can see here dollar value starting to drop here on the 4 hour on the daily it initially went up before economic stimulus was put forth and then as soon as we start to see the quantitative easing measures put in place obviously you can see now prices started up starting to crash when it comes to dollar strength sorry I've just been doing a ton of research a ton of trading I'm still in my shorts right now and I am I'm just profoundly disappointed in our government and the way they're treating this and handling this but to be honest with you I think no matter who's in office no matter who's president there's much we can do at the end of the day but realize that people have to wake up and people have to realize the u.s.

Dollar here is being propped up and we'll start to devalue itself even more as we start to see these balance sheets increase and what ends up happening is as our balance sheet increases we lead the economy when it comes to a global perspective and as you can see here anytime we've started to print more money other countries will follow and so don't expect this to stop with the Bank of Japan or the Bank of China realize they're gonna start artificially pumping their economies up and now there's one solution to all of this and in that in that case in my opinion it's gonna be Bitcoin it's the one deflationary asset that's global worldwide and outside of any government control you can't just sit here and print Bitcoin as a matter of fact supply gets cut in half in less than 50 days and so I'd love to hear you guys as opinion on that sorry for a ranting I'm just you know I I'm just really really passionate about getting the message out there because the best thing that you guys can do at this point is to educate those people around you on what's happening right now for those of you that understand the financial system and how the economic machine works if you guys want to understand this a lot more I would watch radios video how the economic machine works great video on YouTube over 30 million views Ray Dalio founder of Bridgewater associates the biggest largest and one of the best hedge funds in the world you know Ray Dalio the founder of that the one that lost less than 1% in 2008 while every other heads from lost 60 70 % he said that in the video there's traditional cycles of markets that last 10 to 12 years and of course 2008 was the last recession 2020 is here that's 11 years it's time for the recession in my opinion is gonna be a fast one just like the the the chairman of the Fed said but it's just a matter of how long is this gonna prolong the longer it lasts the worse things get but we can't reverse the stimulus that's put in place at the end of the day the feds are printing the money once the money's printed it's printed the value of the dollar goes down you know somebody in one of our last video said oh well where's the military behind Bitcoin Bitcoin doesn't have a military back in it well any military of any major country is all pretty much based on the currency of the country look at any global power they have a strong currency first and a strong military second everything revolves around the Federal Bank and understand that without money the military wouldn't be as good as they are and so the economy is what really matters here and so you know we're really catching all of these countries with their pants down and it's not something that's new to those of you that have watched our content over the last two years it's something we've talked about in the past it's something that most of you that understand bitcoins fundamentals will understand but for those that don't understand it I think it's important to educate yourself on it right now and let those people close to you know what's happening as well because the ones that really get screwed over here are the bottom 50% that hold cash in their bank accounts and they don't realize that the value of that cash is just gonna continue to demolish and go down while those holding assets those that understand what's happening those that are diversified into other assets like Bitcoin are the ones that are going to win in the long term and the ones that will come out of this unscathed so very very interesting Shaun says education is king em Charmin sits Kryptos very volatile yeah well you could say that about traditional markets as well when Lambeau says ray Dolly was the CEO of the Illuminati Club I wouldn't say that Shaun says also join items discord if you're not in it already yes Mick's says mlx are you reading this yes I am live on Twitter Facebook twitch trading view and a couple other platforms Shaun says everyone just remember we're in early BTC well you know I'm really liking the formation yeah I'm really glad we broke this flag sooner than later and the reason I say that is you can see it's not just that level of support that's holding here so you can see we've got this level here right so this is where we initially bounced from and if we pull up this chart here you can see when we look at price action here price action went and bounced here as soon as we saw that massive sell-off and we all know how this sell-off occurred if you guys watched our video two weeks ago we talked about the big issue with derivative exchanges and how the liquidations caused this massive sell-off to go a little bit beyond what it was supposed to be and as you can see I think the biggest positive here is when we look at volume here we saw a bigger by volume pressure than we saw a cell volume pressure and so knowing that and also seeing how it's acted over the last few days yes we formed this bare flag as we should after a big drop but the volume in my opinion is on the bullish side knowing that we've got all of this green here and it looks like the sell pressure has shaken out all of the bigger sellers and now we're starting to see accumulation occur and it looks like the majority of accumulation occurred down in this area and so that brings us to that next level of this flag that's forming here because what's interesting about this formation is if you actually draw this out like this with that initial level it's not a perfect channel and when it comes to technical analysis you want as much perfection as possible when it comes to looking at patterns right so this doesn't look like a perfect channel but the perfect channel does come in when we start to draw out the level coming from this area and finding support as you can see here we start to see there's a more Intune channel here forming and what's very interesting about this channel let's go ahead and make sure this draws out properly I believe it's a little bit lower here it's really where that that 200 week moving average is sitting and so you can see that's the channel here the 200 hours already no that's around 55 50 to 55 80 so we draw up 55 50 or 55 80 right around that area and so when we go into the micro you can see this isn't perfect but it makes more sense to see it this way because what you realize is you've got this zone here that's created where it looks like it was a very very strong accumulation area and we also talked about how bitcoin likes to bottom out this looks like a very very solid bottoming formation here I know this is an hourly which is a very very I would call insignificant chart when it comes to the long term but realize it truly looks like we saw some great accumulation here you can see volume to the buyer pressure side here and then of course as soon as we pushed up to this area volume just went away and so I think the preferred area to accumulate at this point is going to be as we come back and test that 200 week moving average which is that dotted line and so it's gonna be really in this sweet spot here before I think we'll see a bounce and of course now we're beyond this bear flag as we've already broken that bear flag and that's already confirmed itself so at least we get out of the bear flag and we preferably find support here and I think anything below that 5500 area is gonna be even better of an opportunity to get in but you can also see here with volume on this end we've got a lot of volumes I know this isn't a perfect chart I'm just scribble scrabbling right now but you can see a more clear concise chart here with all of these levels I drew out earlier and these are all major weekly levels and that green is representing that 200 week moving average and so that 200 moving average being very important in my opinion and then you've got these very very strong levels of support right below that and of course that accumulation zone in this empty area it just makes sense to me for price action to come down towards that I think over the weekend we'll test this area you know we might see a push back up here and then we might see that pushed down test that previous supports resistance finally come down here I think that's where we're either gonna wick in we may come down and then finally push back up and of course the confirmation will be breaking back above this line right here that you can see is part of the big ascending bullish triangle that's forming on the daily chart so you can see that's really that big support level here that we want to first break and then eventually move beyond and so if you guys agree with that let us know your thoughts Sean says if anything about if I'm not in BTC buying real estate on the cheap when Lambos is best way to make one eighth crypt was to stack drain low psycho and sell it to bull cycle somebody said that looks like a head and shoulder what looks like a head and shoulder what really happened here was a double top it wasn't a head and shoulder so this was a clear double top and that's the other thing I'm glad you mentioned the head and shoulder actually because I want to definitely show you the double top that form and we want to see that completion of the formation as well so if we look at actually what happened here I'll go ahead and zoom in this chart for you guys you can see we did double top here so we pushed up we double top and that was a perfect double top literally the same areas where we whipped and then now we're pushing down so we at least want to come down to this area where we saw that previous support to complete that channel in that double top and that also coincides with our target here of that 5500 250 $600 area which is right in this little zone right here so I think that's very important to watch there but yeah we did double top there it was a failed bullish triangle but we already knew we were in a bull flat or a Bear Flag anyways so that's why we we made sure to point that out but you can see at first this was the failure of the pattern where we had this formation and that double top at the top of this sending triangle and of course as soon as we pushed down there we call this short and now I've got a short pretty much right up to that break point with a break-even stop right now and and I think that's gonna hold true to itself until we may see that push back like I said from that $6000 area back up through the weekend because I think it's really gonna determine itself based on how traditional markets open but glad you brought up that head and shoulder but this was more of a double top in my opinion you can see here that we did call this inverse head and shoulder we did form that shoulder head shoulder and then we broke out there so there was an inverse head and shoulder but I don't necessarily see a head and shoulder here so I'd be interested to know what you're talking about when you say there's a head and shoulder pattern forming here Chris says great question Alber albert's this question about traditional markets you say traditional markets pumping is fake because of the feds can we expect to see lower lows because of that you know it's hard to say at this point because when you look at their balance sheets it's just ridiculous I mean you can see they went from four trillion to over five trillion very similar to what they did here in 2008 right so realize I believe that as this virus spreads and businesses have to continue to lay off people that this will only have to increase because in reality it looks like our economy is doing well right and we pull up this chart we look at the Dow it looks like things are doing well but at the end of the day this is all artificial it's all fiscal stimulus and in my opinion you know it's needed right now interestingly enough I was watching an interview by with the chairman of the feds and he was asked a very very thought-provoking question that I loved and he was asked the question would you learn from the 2008 crisis and he said well what we learned was we didn't act fast enough and we didn't act intense enough and so you're seeing them do the exact opposite this time they're acting really fast and they're acting very very intensely when it comes to stimulus they're they're implementing a lot of stimulus very fast and so now that we're over 30 percent down and the 2008 being you know the Great Recession being about 50 over 50 percent down you know we're almost 40 percent down at this point I think we could have possibly found the bottom when it comes to additional markets and it's not because the economy is doing so great right now but it's because we're gonna find stimulus from the federal banks that will ensure that economy doesn't continue to bleed now the downside to that is we end up with hyperinflation and that starts to devalue the US dollar and the reason that happens is because they're printing money artificially propping up equity prices and now the dollar becomes less and less valuable and other countries will eventually follow and so now we've got this whole economy a global economy that's artificially in you know really it's artificially made and investors will start asking themselves well if that's the case why do I have my money in equity markets I'll just put it in tangible assets like gold I'll start putting it into tangible assets like real estate well even real estate under a military order doesn't really do you much because the government can take that over so you know people will start looking at tangible storages of value and we've only really got precious metals right now and yes there's other storages of value that we can argue that are possibly feasible but really it's only gold and Bitcoin and so I I think Bitcoin can really play a big part here we see here right now with a physical gold demand not even being able to keep up with the amount of demand you know so that the supply of physical gold is not being able to keep up with the actual demand of it that's why we're seeing spot prices of gold soar through the roof so I think that was a great question do I think we'll see lower lows I I don't think I think the worst would be a double bottom here we have this major support level that we're finally back above you know and so I think we're seeing the worst of it we're closer to the bottom than we are the top that's why I don't believe we'll see further lows with Bitcoin I think that would really have to be at rad – in order for things to go lower but at the end of the day like the feds are saying no matter what happens they're just gonna keep printing money and so yes that works in the short term it looks good on the books it looks good in the markets it looks good in people's 401ks but that comes at a big cost when it comes to hyperinflation which will really hurt the bottom 50% than anyone else and so understand you know with unemployment rates seeing the highest-ever jump it makes sense because we've never seen a global pandemic like this before but realize that this is just the start and this will most likely continue to edge higher as it did during the Great Depression like I said in 1929 during the Great Depression there was a three point one historically low unemployment rate and that immediately jumped to around 8 percent by 1930 and then by 1931 that jumped to 15 percent and by 1932 1934 that was at 25 percent so that was a very long depression over four years and it really really hurt people I don't think this is gonna be a depression and the reason I say that is it mentions it in the article by the the feds chairman you know our economy is fundamentally really really sound but we're going through a health crisis and until these businesses can start opening up their doors things are just gonna get worse and so I believe that there could be a very fast and easy recovery but I don't think it's gonna happen on our timetable I think it's gonna be determined by you know the virus and and that's not a good person to give the you know the the the clock to at the end of day so you know I hope that makes sense you know so everything has a cost to it and the cost of artificially propping up an economy by printing dollars is only going to push more people towards some sort of deflationary asset and in this case we have Bitcoin and this is what it was built for and I think that's why we're seeing Bitcoin up over 75% from its recent lows do I believe we found the bottom absolutely the matter of fact you know you can see here we've got all this strong volume here even at these higher levels we're seeing a peak volume so people are accumulating even at these higher levels in your 7000 right you have to say to yourself this at the end of the day if you would have bought Bitcoin at the bottom here in December of 2019 when everybody was fearful to purchase you'd still be at a negative return right now but these people that accumulated here this was a great zone to accumulate are probably still holding I don't think they're gonna be selling anytime soon even when price goes at 7,000 or above 7,000 because there's barely in a profit at that point right um the majority of people that we see hold Bitcoin until they're around 80 percent profit there was a study done and it showed that most Bitcoin wallets liquidated their Bitcoin after being in profit over 80 percent another study shows more people hold Bitcoin than trade Bitcoin I think that's why we see more derivative trading than we see spot trading and there's not many markets like that matter of fact most markets are the complete opposite or there's more spot trading than derivative trading and so you know obviously that comes at a cost when it comes to seeing these type of liquidations like we saw here on March 10th with the big drop but you know everything has a cost to it so Mick says where's the feds going with these adjustments why me so we talk did I don't know what the end of your question just said makes this seriously why is the Fed saying why me so Todd did I don't know what you're saying when then was I sold my kidney to buy one more beat easy you know what I like about you saying that when lambo at least you're not saying that when bitcoins at $20,000 right like people did back in 2017 when it was at 16,000 they were taking out mortgages on their home and refinancing it to buy some Bitcoin and now they're really screwed up I like that you're saying that when Bitcoin is at 1/8 when it comes to fear and greed index and everybody's an extreme fear I think that's actually might be a good there cron says the virus will last forever government only wants power very interesting there Sean says I agree with you 100% naive thank you guys when that was dumped your helicopter money into Bitcoin a onion says love this learning so much by seeing how you do in the charts live awesome information in general – Thank You Man appreciate you well I'm gonna wrap up this video if you guys enjoyed this like the video went longer than I expected but I had a lot to talk about and I'm kind of gonna probably wrap up my night at this point I forgot my short in break even stop I think that's gonna do pretty well here at this point we had a great week of trading I'm gonna try to cool off a little bit I'm gonna watch the charts obviously and update you guys accordingly let our analysts try to take control for the weekend Oh also remember we're under a death cross right now one thing I want to point out is anytime we're under a death cross or a matter of fact any time we're so far away from these moving averages realize Bitcoin does like to come close to them right so right now you can see with price action we're about 25 percent away from all these moving averages they're all kind of converging together here but you can see any time we've seen price action move too far away from these moving averages either the moving averages come closer to the price action or the price starts to move up right so price action doesn't seem to like to stave too far away from these moving averages you see that this point we went pretty far 28% away then we eventually pulled ourselves back up right so you know it seems to me that anytime price action moves you know 25 to 30 percent away from these moving averages it likes to pull itself back into them at least to touch some of them or you know I guess that's the best word to put it it's to touch them right and so you know we're so far away from these moving averages we won't expect them to come down so I think it would make a lot of sense for the price action to do what we're saying you know come down here to the 55 area or we've got this volume and then possibly uptrend from here right just do a traditional higher high lower low higher low lower high so it's gonna be interesting to watch where things go but obviously right now in the short term we're bearish in the medium term or neutral and in the long term were bullish and I think that's the perfect way to end this video thank you guys for watching I hope you guys are staying safe out there this is the best time to learn how to trade this is the best time to create an extra source of income this is the best time to be behind the charts because this is a skill that you'll never lose and I don't care what virus I don't care what boss I don't care who nobody will be able to take away my skill of trading and being able to make money in these financial markets and so I hope you guys find a skill that nobody can take away from you so that you aren't subject to what the government does what happens to the US dollar and that you're fully educated on what's happening behind the scenes and so you know as I mentioned before the best thing you can do right that right now is educate those who are uneducated on what's happening because the ones that really get hurt here the bottom 50% when it comes to hyperinflation and so we're gonna see that with these balance sheets going up this is just the start and so you know what really really scares me is is just realizing how high this could go I mean if this continues to go up it's just looking really really dark for the future of our currency which in the end game is the future of our country and so realize that this isn't doom and gloom but what I am saying is Bitcoin is a very very attractive asset right now in my opinion when it comes to the value you're getting for what you're getting at these lower prices and for the fundamentals of Bitcoin being you know not backed by any government or a central authority being a deflationary asset that has deflationary properties built into it as we are gonna see in less than 50 days with the supply being cut in half and so you know there's a lot of positives here for Bitcoin so thank you guys so much for to me to in here shots is a perfect climb seein discord cyborg got run out he's about to hit level 15 by the way good stuff brother last question hourglass do you think it is possible the market cap of cryptocurrency could exceed the amount of dollars there are in the world due to inflation therefore making crypto more expensive than fiat very interesting question the USD T tether Treasury just surpassed six billion in USD T I don't know if you guys saw that headline recently what that shows me is more and more people are looking to get into Bitcoin and I say Bitcoin not crypto currencies because we look at Bitcoin dominance and it's obviously shown strength over the last few months if not the last year now and so I think that we're seeing more US dollars turn into tether which is a digital form of the US dollar which eventually will come into Bitcoin right so six billion just got minted by the US bTW Reserve and so realize at the end of the day even the feds could start pumping money into Bitcoin if they wanted so because they just print money right so to answer your question what I would say is when looking at the five to ten year perspective and to tell myself we as an investor where do I want to hold my capital what assets do I want to be holding in the next five to ten years matter of fact even if I was in the bottom 50% and I only had five hundred dollars in my bank account yeah I think 80% of Americans don't even have a 400 dollar emergency fund even if I had $200 my bank account I'd put a hundred of those dollars into Bitcoin knowing that in five to ten years I think that a market that's less than two hundred billion in market cap has a much more but I'd say it has a higher potential of 10x seeing 20x seeing 30 xing than an equity market that's ages old and already in the trillions of dollars in market so what I would say is beyond your question about value of the you know the the the Bitcoin versus the amount of dollars in the market I would say the big question is what where do we see bigger growth potential and I would say Bitcoin in the cryptocurrency market for sure specifically Bitcoin I'm not talking about all coins here whatsoever I don't think many of these all coins will be around and there some people love to tell all coins I just see him as something to trade like penny stocks until an altcoin really impresses me I'm not gonna be big on any alt coins as much as you know you've got crypto kitties on etherium being the highest and most use case of aetherium it doesn't impress me and so just realize that at the end of the day bitcoin in my opinion is uh is where all eyes are going and it it's really time for it to prove itself over the next few months so just like in 2008 how gold continued to drop with markets and then finally rose up you know and and and and really really saw strength as we bottomed out I think Bitcoin will follow the same path as it already has been it's already 75% up from its recent lows while traditional markets are only about 20% up from the recent low so realize that if we did find the bottom which I think we have then Bitcoin is is gonna start to trend up at this point and and the price levels that they're currently at in my opinion are extremely discounted do I think that there's a more opportunity for discounts absolutely so we'll see we'll see how that 200 week moving average holds up I think regardless we'll see a bounce we know that's a major support from not just the flag but the toe and Rodrigue moving average so anyways hopefully I answered that question thank you guys so much I don't want to take up too much of your Friday night I know it's already 46 minutes in I'll see you guys on Monday have a great weekend and Sean says ello the little 1200 the government is giving me I'm going straight into Bitcoin that is a good way to end the video what do you do with the $1,200 that the government gives you put it into Bitcoin that's the answer thank you guys so much for watching I think that's your best bet at this point I don't think the US dollar is gonna have much value if all they're gonna do is print it and print it and print it and print it and print it so thank you guys so much for tuning in and I'll see you guys on Monday and I'll see all of you on the discord in a few minutes thank you guys

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