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.
2020-04-06 11:33
