The price of Bitcoin just ran into this important 50 day moving average here. This is very significant. Yesterday it faced rejection there. And now we have seen and a rejection. And if it continues to decline from there, then that would be our local top here and we would be looking at a major decline from that. But in my opinion, we could still see a move towards 10.7 came from here, and that would be Tunstall’s previous market structure, which would be, I think, important for a clear rejection here for confirmation of the beginning of a bear trend from there. But we could also see a decline from here without the price going to go higher, because the 50 day moving average is a very important level. And, you know, I don’t use a lot of these indicators as much as I used to. I’ve been doing this for a long while. So I don’t need to because I mostly just straight the price action. Now, if you can just tell what these candidates are telling you and you will get there with a little bit of experience, a little bit of, you know, if you put time into I’ve been doing this for for a long time. Move more than eight years. So I have a little bit of experience. But if you’re a beginner, you’re just starting out. You would need to have these indicators on the chart because they tell you so much and they make your life easier, because if you’re not very good at just telling where the support and resistances, you can just use these indicators to help you out. So this indicator here, the 50 Mozingo Richard, this is one point of confirmation that it’s telling you that the prices first rejection here and this indicator here, the volume profile, a visible range, is another indicator that’s telling you that, you know, the price of this rejection here. So there are a number of indicators that you can use on this platform. I can sure. You those indicators and I would just sign into my account here. If you are new to this, you would need to create your own account here and there is, so is it true you can just sign up? You can also see other people’s analysis here and you can just go and open the charge here and you will get here with your own account and it will display your user name here. And you can see this chart. It can be, you know, so many indicators. There is no limit to the number of indicators you can add here. I mean, there are there are platforms that have a limit to the number of indicators that you can use. If you want to use more indicators on those platforms, you would have to have a paid account. But on crimper daily, we don’t have any limit to using those indicates a lot of these indicators. We are offering it for free because we want to provide retail traders with everything that we can to just level the playing field without there being such a big difference between the the top few traders that are just that have access to all of these different tools and which in turn is that are just looking at the price section and just these Charton don’t have a lot of these indicators that they need. So you can just go to the studies section. You can see that there’s so many indicators here that you can just experiment with. I mean, there is what I used to do. I use it just a lot of these indicators and see what works best. And I definitely use this each local Clouse indicator a lot. And I is a very good indicator to tell you where I support and resistance base is and where this cloud is so informative because this tells you where the price has support. As you can see, it has the support of this cloud. So it kept on rising. And then when it broke below, that cloud became resistant. So the same thing as we can see here, what’s going on here. So if the price declines below this cloud, then that would become resistance and it will be very difficult for the price you just climb above it. So there are a number of other indicators that you can use. If you wanted latest indicator, you can just take it from here. And you can go to the estate section and you can see there’s so many other indicators. One of these is it’s parabolic. I say, ah, this is a very good indicator. So as you can see, it tells you where the trend is. So this is, you know, a big trend. And this now is an upward trend. Now, this indicator is in no way to be used alone. This is not going to work if we’re just looking at this indicator. It tells you different. I mean, you know, the thing is, if you are a good trader and you can just decipher all this from the price action, you don’t need any of these indicators. But you’re if you’re a beginner or an intermediate trader, I mean, these indicators help you so much because they’re just telling you that this is an uptrend here and this is downtrend. So it’s giving us so much additional insights. And you can use them to you’re not just a perfecta a trading strategy and you can use other indicators here. Let’s see, this rainbow oscillator is something I used to use. And if we just take a look here, you can see that these candidates are telling you that, you know, when a trend changes. So we just zoom in on this. We can see that this is where the trend started. So this big red candle is where the trend started. And it started to decline. Then another red candle, another red candle. And then over here, when we saw the first green candle appeared at first green bar up here on this oscillator here. This is the rainbow oscillator on this crookedly, Chinaand platform, you can see that here. It would have been safe to enter an up to enterable straight from here because the trend changed here. So this indicator, as I mentioned before, is in no way to be used, you know, alone. It has to be used with other indicators and your strategy. But what I’m trying to say, Eric, is that it is giving you so much important insight. You know, you can see here that this trend changed. And then at this point, this trend became bearish again. And then it is now in an uptrend once again. So when it changes here and we see that this first red candle appear once again on this rainbow oscillator, there is a point where you might prepare for shorting this market or being at least getting out of sheer bullish positions or actually selling your crimes. So these are so many useful indicators on a lot of these trading platforms that you can take advantage of. And you should just go ahead and start using them and see what works best for you. I mean, there are so many different types of indicators here. And sure, zoom in and zoom out of this chart. You can see that in certain indicators like this zigzag indicator. You can see that this just kind of makes this different kind of phreakers on this chart. And you can just look at these and see what could be happening here, what could be going on. So you went everywhere, I suppose, in an uptrend here. And even if the price would go up from here, you can see that this was a wave down then a we’ve loved and down, then up, then down to this is up and then it is likely to go down here. So you would expect a move down to at least six thousand three hundred from here, even if it is supposed to go higher from there. So these are so many useful indicators here. There are giving you were useful insights and I recommend that you definitely go and check them out. So that being said, let’s get back into this analysis and I’ll take a look at what is really going on here. So Bitcoin seems to have just found a temporary top here, but I’m not really convinced that this might be. I think a rally toward some point, some cake is still on the table. It could happen and the price might end up testing this broken structure here. If we take a look here at this chart on trading where we can see that, you know, or here I’m using that 50 exponential moving Garett, this yellow line here represent a 50 exponential moving average. But on this chart, I’m using the 50 moving age, not the exponential of the Eric. So one thing that you can tell right off this chart and you know right away is that there is a difference between the moving average and exponential moving. Right. So as you can see here, the moving average takes into account the weights of these scandals. You can see it this week right here. This move and this sort of like a like a pin that you have here, which is called a weak. It is it is captured by this moving average. As you can see here, it is touching this 50 moving average. But if we take a look here at this 50 exponential moving around, you can see that this week has blown past this 50 moving average and there’s a 50 exponential moving around. So you can tell right off that this is different. And this is just about the base of these scandals and this is about the Wickes. So there is a difference between the two. And when you try it out for a long time, you would, you know, find out what works best for you and what is the one at the top. Which one you would like to use more in. I know you for your trading. So it all comes down to personal preference. I like to use the exponential moving averages. Most of the time because I don’t like any noise here, because there’s just noise is just our first move up and down. I just look for confirmation. So if you take a look here, you can see that on different time. France, let’s say this was the 15th moving average on this chart. So you can see that it made this big move to the upside. So if you were to take a look at the 15 moving around, you would have seen that this touched 50 moving average and this made a big move to the upside. And I’m thinking it probably went past its 15 moving average here. If we were to talk about the 50 moving average. But if you want to talk about the 15 exponential moving average, you can see that it ended up closing below that. That is the reason I prefer to use this exponential moving averages because it takes out of the it takes out the noise out of this trading and just you just focus on the candidates here. So that’s why I like to use some. And it really is a personal preference. You can see what works best for you. So let’s talk about what is most important here, and that is the S&P 500. So there isn’t, you know, song and dance that we have seen in the market is really about this S&P 500. And it has been misleading people. It first went up, then went down, and then it started the day in green and then it went up, closing the day in red. So this is all that has been going on. And I mean, at this point, we’re really interesting and seeing when the S&P 500 and the stock markets went to decline. Because there is going to bring these markets down and that is going to trigger the next big move, the next big decline in the cryptocurrency market. And I keep on saying that this looks decline is not going to be the same as we have seen before. This is going to be far more devastating. And I can’t stress this enough because this is going to be extremely brutal and this is going to be something else. I mean, if you’re thinking bitcoin, it’s just going to go down to two thousand eight hundred or something. You know this it’s not going to just stop there. This is going to go much lower than that. And I think this is just a matter of time before it happens. I think what I previously said on Twitter that it’s going to happen in the next two to eight days. And I think we’re very close to seeing that happen. So the reason that I’m thinking that we could take that long is because I’m taking a look at this chart and I’m taking a look at this fractal here so I can see that there is so much similarities between the two. And you can tell that there is probably like a like a computer board or algorithm that is just printing these. I mean, what other explanation is there for this? You can see that this is not just real training activity. These are people that are printing these fractals for you that are bringing these different parents on this chart for you. So do you think if there were real people training, there would be so close similarities between the two? Now, this is so straightforward. I mean, if this is just clearly falling, what has happened before that you can see that this is going to go much lower and it’s going to become much harder than before. So part of the reason is people want to do this is because they first want to keep all the people confused here and try to get them bullish. And then when a few big most redounded start the class, people start panicking because they think it is repeating what has happened before. And that sort of makes it easier for them to bring the market down because everybody’s already scared by that point. So let’s talk about it. I mean, other cryptocurrencies now. I don’t think there is any point talking about loved his eloquence here because if Bitcoin went down after that, quants are going to go down harder. But let’s talk about it anyway. So if we were to take a look at this one hour time frame for a term, we can see that it broke past this previously previous bearish pendant that it has been trading in and did the same thing as it did before it broke past this parish pendant here as well. And then it ended up making this move to the upside, this false move to the upside before it started crashing down. So it is so similar to what is happening now. It ended up breaking past this line and then it ended up falling from there. So the same thing that’s happening area is only a matter of time before we see that big decline follow from there. So the coronavirus situation is very critical at this point, and it is interesting because yesterday we saw a lot of, you know, I don’t know what else you call it. I mean, these were just I don’t want to use any negative words, but it was it was just a complete nonsense news and articles about this coronavirus thinking that the outbreak is slowing down and all that and all this. And, you know, I mean, this was just so misleading. You can see that this is not slowing down. It is just increasing and it’s still on the rise. We have now seen 4000 deaths in New York and we have now. We are seeing that this number is close to being four hundred thousand. So very important numbers here because these numbers have a psychological impact on people. And that is something that triggers big waves, big movements in markets. So this number, as it approaches 400000, is going to have a serious impact on the stock market. And the same goes for this number that has reached 4000 now and this number is now twelve thousand nine eleven for, you know, the US. So this is a big number. And you can see here that worldwide these cases are still on the rise. So it might have slowed down some countries like China, but it’s still going up in a lot of these. And by the way, I’ve just noticed that China is just allowing its citizens to go back to work on that. I mean, that is like you’re not just begging for it and just trying to make it make things worse. But on intention because. Well, why would anyone want to do that at this point when this outbreak is not stop it? And there is no joke. There is no assurance that nobody knows for sure if you how get cured, you are not going to get the virus again. Nobody knows that. So there is I mean, I don’t know why these countries are doing that, but because China is going to be struggling a lot more. If they don’t do this, their economy is going to take a hit. So they’re probably concerned about that. But I don’t think that it’s going to be a good sign. A lot of these countries want to be open for business. They to give a lot of these different targets, some say, in a week from now, some say two weeks from now, but they don’t end up doing that because it is not easy to do that, because if you take a look at all of these cases are on the rise in this country. So it is not slowing down anytime soon. And if this is just keeps on rising in this way, then this is going to be in. I mean, this is going to get a lot worse before it gets any better. Let us not talk about the oil market here. So yesterday I said that oil is not likely to break past $30 a barrel. And the exact same thing happened. It did not end up doing that. And now it is likely to decline from it from there, because we have seen something similar as we did before, and it has now pay off the ground for a sharp decline from here. So on the oil market is something that previously triggered the decline in that stock market. And I think the same thing could happen again. You know, there is no shortage of news and other such events that trigger such moves in these markets when the charts tell you that something is going to happen. You can rest assured that there will be news events that would support that kind of move. Now, I’ve previously talked about this. I previously said that the same thing happened around 9/11. You would have taken a look at these different charts and you would have seen that the market was ready for it. And I think this might sound a little strange to a lot of people, but this is what it is all about and this is what really happens. And, you know, you’re you’re you’re welcome to read a lot of books. And then I would encourage you to read some some of the books written about of these different events and this corner where a situation it is considered to be, you know, one of the catalyst, but it is certainly not a black swan event that is going to create absolute panic in markets. I think this just a catalyst that is going to prepare us for what it’s about to come out. But this is certainly a very strong candidacy itself. And you can see the damage that it has done. And it is not stopping here. It is going to do much, much more damage. And I think we’re just getting started because this whole situation here is going to get a lot worse. And in a lot of these countries, it is so concentrated in just a few areas and it has not yet spread to other. Yes, yet. So it is going to get to other areas and it’s going to spread before, you know. I mean, this is going to get a lot worse and people are going to panic in the real sense. And lot of these people that are talking about buying the dip in the stock market and, you know, just trying to buy equities for bargain prices, they’re going to stop saying that. And is when you would see this thing not just go away before that happens. This thing is not going away because, you know, this all of this is happening for a reason. And this is not going to go away until there is absolute panic. So you you have to wait for that. And that panic is going to come. And that panic is near. It is going to create absolute panic in different markets. And then when that is done and it has achieved its outcome, then this thing is going to go away. I’m not going to get into further detail about that. You can just try to find out about this yourself. But most of you would get what I’m talking about here. So this is something that I want to talk about here, because a lot of comments on the different videos that I post and recently I’ve seen that a lot of people are agreeing with me on different analysis. And part of the reason for that is because they see that often light on different topics. And I’ve been you know what? Like my my ideas have been working and there is a reason that they agree with me. But, you know, another reason is that everything is already so bearish and they think that the market is ready to depart for that. So there’s also another reason that they agree with me. But I just want to bring your attention to something here. You can see that when I posted this here and I said that there is a short to $50. And the prices trading around to seventy seven dollars. Now take a look here to seventy seven dollars per coin for them. And I said it is going to $50 from there. Now, you can see the comments here. You can see it. I’m embarrassed for you. I’m very sorry for you. You’re an idiot for posting this nonsense. And are you crazy? I mean, look at this comments here. You can see and so many people agree with that done. By the way, you can see the five people, like the six people like the six people like this. I’m just going to like this to bonds. You can see here that so many people agreed with them. So you can see here that this was not so wrong. I was also wrong about this was I mean, the prices ended up declining from there. And it is not done here. It is going to decline further. It is going to hit that 50 Dorner target that I have for him. It is going to happen. And you can see you can take a look at this trip Serco’s here and how you know, how strongly this has been working and how effectively it has played out. So the price is now going to test this vicious circle here. And I think it is going to decline down to $50 per bitcoin, if not lower than that. So this is something that I want to bring your attention to, because when everyone agrees with you, you can rest assured that you might be on the wrong side of things, especially if it is in financial markets, because you don’t want if you’re in. I mean, let’s face it, everybody knows it’s trading. It’s like a zero sum game. And somebody has to lose money in order for you to make money because. Like business, this is about making trade. So if you are buying or selling, you are selling or buying from someone. So that person has to make a loss or a or a gain for you to make a loss again. So it is a zero sum game. So if a lot of people agree with you, if 90 percent of the people agree with you, then you are not you’re not a good investor. You’re not making any good decisions. So you don’t have to think about whether these people agree with you or not. And you just if you are being a contrarian, it works pretty well in investing. And a lot of these people like Warren Buffett. Good investors bet they say that, as you know, be greedy when others are fearful and be fearful when others are greedy. So that means that you don’t have to agree with other people. You just have to do the opposite of what they are doing. But doing the opposite of what they are doing does not mean that you just get in front of this rally. You try to short the market here without any confirmation because that’s is like sucide, but it’s just dumb, you know, just jumping in front of like a bullet train and without knowing where it is going to go down. Like, let’s say you shot the market here and then the price ends up doing this. So it shakes you out and then it declines or it ends up doing the exact same thing that you thought it was going to do. But you are not on board here. You are already shaken out by this move. So why not wait for confirmation and enter the trade here? Why would you not enter the trade here or here? Just wait for a confirmation. Why do you have to trade this whole move? This is not important. I mean, you just have to trade the middle of this month. You don’t have to trade this whole move here. And there is enough to make you a good profit. And if you do it on a consistent basis for long enough for your time, for a long time, then you’re going to be a good trader. You’re going to get really good at this. So that’s what it comes down to. You don’t have to be greedy to try to find the top or the bottom, because that is not the way it works. And most of the time. I mean, you would know from your own experience that you would end up losing money if you were to keep doing that. Lastly, I want to talk about this on my channel, I’ve recently seen that a lot of you have been enjoying this video that I’ve been posting and some of you have mentioned that are find. You’ll find them very useful. So I would appreciate if you were just showing some video here this last year that I posted here and you would comment here and you would tell me which time you want me to post these daily videos here. And I would be posting daily videos on doing market technical analysis every week or so. I would be looking at the views of other trainers and I would be telling you what is right and what is wrong with them. So I need time here. Previously I said that I would be doing them at 9:00 p.m. Eastern time. But I want to know your thoughts on this. So just let me know here, just commentary and tell me what time you want me to do this. These videos here at one time would be would be best for you and I would be doing them life. So I would appreciate if you would give me a time that you would be available. So most of the time that’s most of you pick I would choose a time closer to that. And then we would start doing that on a regular basis. So that’s all for now. And thank you for watching.