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Bitcoin Dumps to $8k But Is the Worst Over?

VIDEO TRANSCRIPT

It’s strange, no matter how many times the price of Bitcoin dumps. People are always shocked. But I’ve been telling you guys all week to hold your horses. Today, we’re going to look at why the price of Bitcoin dropped and whether or not you need to keep your moon boots on the shelf. Let’s get it. What can a big boy crypto news edition once per day? I’m going to break down the biggest news stories in the space for you so you don’t have to. If you want to know where the price of Bitcoin and all coins are going to, then please make sure to hit the subscribe button and join both my telegram groups, the bid squad for a regular crypto chat and Bitcoin traders to discuss trading strategies. All right, guys. Today has been a tough day for a lot of people. The FAMO has been quite strong lately. Several people have asked me if they should go all-in on Bitcoin or this coin or that coin. This is the time when people start doing stupid things like taking out loans to buy crypto. So I’m going to show you my strategy and how I was able to jump out of the market so I didn’t get hurt at all by this dump. We’re also going to be taking a look at Coinbase going down and what the Bitcoin having means for people who want to sell Bitcoin. All right. Let’s jump in the markets. So soon? You guys may have gotten absolutely wrecked the last day, but I assure you guys why I did not get wrecked. That’s not to gloat that to tell you that you can do this, too. So I use the FAMO trend indicator. I swear by this thing. It over long time frames. It works like a charm. So I was in along last night, I actually closed out before I went to bed because I just didn’t feel very great about it. So I woke up, I was not in any positions and I looked and we were down a little bit. Now if I didn’t have my FAMO tender indicator here to show me that we have now entered into a cell zone, then what I would have done is I would have looked at this and said, man, we’ve been going up, up, up, we’ve dip down. It makes sense that it’s going to pop right back up. And I would have jumped in along, but because of FAMO Turner is showed me that we were in a cell. So the question is, did I want to short the market or did I just want to sit out. It would no position. Now as you guys see, this candle over here would have been awesome if I would’ve shorted and it would make me look really smart. If I would’ve come in here now, I would’ve told you, hey, guys, I shorted the market today. Look at this. We’re doing so great. But we crash. And I made all this money, but no, I did not. Why did I not jump in to short? Yes, I could have made some money, obviously, but I didn’t. When you look at the date chart here and you look, we are still in a buy trend. We have been in a buy trend since April 1st. We have been in a buy trend. Now, when you look over here at this action right here, we have dipped down. We’ve wig down lower than the buy zone support line here if you will. This is an aggregate line to get lost, having a consideration. It’s not just one. You know, it’s not like Mack D or RSI or anything like that. It is it’s an aggregate of many different things. So I’m just gonna call it the buy indicator line here. OK, so we’ve dipped down below that this week. So in my opinion, this is when you look back at the buying trend since April. This is the weakest that we’ve been. And this is the first time, if you look up here real close, you can see in the background. No, I didn’t want to do that. You can look in the background of this candle and you can see a little red shade right there showing that we could be heading into Heselton. But we’re not there yet. You don’t want to trade against the market. So when I’m in the daily chart, when I am seeing this buy indicator line right here, OK. When we’re in this buy zone, I’m longing the market. OK, I’m not shorting it. Look, there’s been plenty of opportunities, especially this candle is the biggest red candle we’ve had in a while to make a lot of money. But it’s going against the market and I don’t want to do that. And when I’m looking at the hourly chart and I’m looking for the price of Bitcoin and where it’s going to go, I’m trying to make my hourly moves in sync with my daily moves or the daily chart. Still in an uptrend. So I’m only going to be picking up on these buy orders. I’m not going to be picking up on the sell orders. So right now, what I’m waiting for is either confirm that the daily chart is going to move to sell. And in that case, I may want to short the market or I’m waiting for this to bottom out and bounce back up, which is what I think is going to happen. And we’re can talk in just a little bit about why I think that that is going to happen today was manipulation. But I do want to show you guys this one other thing now. If you do want to trade on my business, join them on right now. You guys, can I have you want a long or short the market, you can get from tender or you can also trade on by bit with by bit. But Boy Live may do some more trading videos in the future because we’re interested in that Drummy comment down below. Let’s look here at Quoin 360. I just want to talk about briefly. We got to get to the news. We’re running out of time here. But I want to talk briefly about all coins. And they got murdered today. And this is the problem with all coins season. Does why there’s so much potential. We have these dips to get in on all coins because eventually, they are going to pop off. It might not be for a while, but they are going to absolutely pop off. Now, what we’re seeing is Bitcoin. There’s not a huge amount of confidence. There are retail investors, but there’s. Not a huge amount of confidence in any number above 10K. So what happens is Bitcoin hits 10K, people exit the market. They bought it maybe at three, maybe they bought it at six. They exit. The markets are not looking to diversify. When Bitcoin starts pushing up through the ten thousand dollar level, which it will in the next two to three months, definitely without question. OK. In my opinion, anyways, what is going to happen is it’s going to tear through that 10000 levels once it gets to eleven, twelve, thirteen, fourteen thousand. At that point, people are going to start pulling profits out of Bitcoin not to take off the table, but to put into other all coins. A million dollars invested in Bitcoin is not going to move the market. A million dollars invested into, let’s say, iota or let’s say auger or owns a go. A million dollars of profit from Bitcoin invested into those coins is what makes those the potential for all coins to pump so much higher than Bitcoin. But we got a tear through these levels and people have Antonie for days. All of I mean, seen it all over Twitter, all over YouTube. You’ve been telling me for days that Bitcoin is about to go to, you know, this number, that number in the next few days. I’ve been telling you guys. Hold your horses. Be careful, though. What is happening is, is there is going to be a huge push, a huge upswing. It’s going to be after the having all this hype right now that you guys are hearing, you’re seeing this is not about the next few days. We’re probably not going to 14 K, but we’re the having now with this drop, it pretty much assures that what you want to wait for is after a dip or we will probably get a dip and lets as part of it after the happening. And that is when you really want to get excited about the price. This is the pre-game. This is the preshow. This is the opening act. This is not the whole enchilada. We just had Cinco de Mayo. But this is not the whole enchilada. We are playing this game, not for 10 years down the road. That’s great. Bitcoin is going to be really, really high. But what we’re doing is we are wanting to catch Bitcoin near the bottom, the local bottom, which you could be here right now for the push up over the next 18 months. This is the golden time that we’re heading to. And you do not want to miss out on that. I told you guys in the video, I think it was yesterday, last night. Be careful of the volatility. The volatility is what separates the men from the boys when it comes to cryptocurrency. Can you handle this kind of downswing in this kind of red candle? If you can, then you can become a millionaire with Bitcoin. If you can’t, then you should exit the market right now because you cannot handle what is about to come. Okay, so the drop today was very dramatic. Now, this volatility, if you’re not used to this, it causes a lot of issues across the whole space. In one of those issues is that websites like Coinbase, they go down during these times. And this is where people get into conspiracy theories of manipulation. What happens is people panic and they run to the side. Coinbase finance big tricks. All of these websites are huge problems in 2017 with the huge surge of traffic that came, whether it was buying or selling. So where did all this traffic come from or why were people freaking out? Well, a flash crash. Whales sink the price of Bitcoin. There was a ton of Bitcoin sold off, but this was very interesting. And two million dollar chunks just as a clock struck 5:00 p.m. in California. Bitcoin dropped from nine thousand five hundred sixty-one to eighty-five seventy. Now, why does this happen? Why do whales do this? Well, you have to understand the way that leverage trading works. OK. So what happens is me as a retail investor, you as a retail investor, we can’t move the market lever trading is good for us. If you know how to use it properly, you can make money that way. A lot of people do. However, whales use it in a very negative way. So what they will do is they will take their huge chunk of Bitcoin. They will have a leveraged trade. Okay. They will have a leveraged trade for the market to go down and then they will sell their bitcoin. And what that does, that pushes the market down. So their bitcoin is losing value, but they’re making money. On the other side is a shorted the market. So that is why they’re doing that. That is what caused what you might you know, what is known as the Bart Simpson pattern if you don’t know what that is. That is when the price drops and then comes right back up. I don’t see an example of it right here. But if right here we are to go over a little bit and then shoot right back up, then that would be called a BART pattern. It also works the other way where the price will pump move to the right and then go down. Kind of like Bart said this would be an inverse, Bart. If we go back up, just so you guys know, have you haven’t heard of that lingo, what the whales are doing during this time when they’re able to push the market down? This is not only are they making money from the leverage trading, but they’re actually able to accumulate more when they go down the bottom. So it’s kind of like they’re getting this never-ending supply of bitcoin, but eventually. Hopefully, this will change. Now, it could be changing right now to some extent, Bitcoin having means miners will no longer be the biggest sellers of BTC. Now, you may not know this, but most of the whales. It’s like one-third of all large Bitcoin holdings are minors. So once we get the having in the number of blocks per, you know, rewards per block dropdown. Miners will no longer be the biggest sellers of BTC. Guess who it’s going to be? It’s going to be crypto exchanges selling bitcoin. It’s going to be Coinbase. It’s going to be buying. It’s gonna be all of those sites. Probably not. Cash happens, non-exchange crypto, dot com. And guess what? It’s in their best interest for the price to go up. So what is happening is these whales right here are posing a big threat to ongoing Bitcoin rallies. I hope you got that by now. We’ve talked about extensively, but when now exchanges become the number one sellers of Bitcoin, they do not have the same motivation because, you know, they’re not an individual perp, you know, a person trying to accumulate more exchanges, make money when people trade. So what they want they want the price going up. They want new people coming into space. That means more people trading. That means more money for them to put in their pockets. And that and this right here could be finally the way we see the end of that manipulation, volatility in crypto to the downside. Now, the exchanges might have much more incentive to push the price up, which, hey, that’s great for me. That’s great for you. That’s not great for people that are not invested in Bitcoin or cryptocurrency at all. But I would love that. And you might as well if you have cryptocurrency at this point. But now is your turn. Were you prepared for this drop or did it come out of nowhere? Let me know down below in the comments. I hope you enjoyed this video. If you did, then please make sure to smash like button and subscribe to become a member of the big squad, the fastest growing community and crypto. Thank you so much for watching. Have a blessed day. The boy.

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