A Bitcoin Dump RIGHT NOW Could Be VERY DANGEROUS



bitcoin has been trading in a narrow range for the past couple of days and in fact with the exception of a little down move today which we've had and by the way this actually comes in light of the new backed news so back to launching trading with real Bitcoin instead of derivatives you know real bitcoins being sent and received in various different things like that quite bullish in spite of that news we've still had a bit of a dump it's just a classic example of where news just never matters in the market we've been trading within a very tight range if we kind of take a percentage tool it's been something like a 7% range although most of this trading has actually happened within a much more narrow simply three to four percent range and so it's been a very narrow range for Bitcoin but what this is actually telling us as one could be significant with the next move to come now I've started off this video with a chart up on this little setup here and really what I want you to pay attention to is this red box as support so in fact it should be green and the Ichi Mook okay I felt that my bad ah there we go and the Ichi moku cloud here in fact we don't actually need a line to be outlining that so yeah we have this area of support here and you know one of the ideas that I ran across with you guys of what may be potentially happening in the market right now is that we could be in somewhat of a sideways trading range which would look something now a little bit like this while the uptrend which has already established just kind of cools off and is ready to take off once again I do still think that's possible but what we're seeing right now with this little start of a potential series of dumps is definitely concerning me and the reason for why that is is again if we go back and compare this to what happened in 2017 and 2018 we had a similar kind of event play out and you guys heard me talk about this in a video that I made a little bit back where we had two highest of the first was higher than the second we tried to break the high and it looked very obvious that we would just like last time when we hit $13,000 we tried to break the $14,000 but we couldn't $14,000 level we fell down to a relative floor and we tried to trade upwards again but eventually the floor gave way and we retested it as old support becoming new distance so right now we have almost exactly the same setup last time this happened we were in a parabolic uptrend there was a lot of euphoria this time around we are also in a parabolic uptrend there's not as much euphoria but I don't think that's so important what we do have right now is quite similarly the same kind of high at about $14,000 then a lower high at 13,000 falling down to somewhat of a relative floor down here trading upwards trying to fight it and if we end up breaking below I do think it is quite likely that we could end up testing it as resistance and then dropping significantly lower now why do I think that's the case it's because we're showing a lot of weakness in the market right now we had the dump down to this green box level that I outlined but even with this dump we ended up dropping a little bit further than I think we should have which indicates that there is some underlying weakness with Bitcoin at the moment you know when you're looking at a dump like this yes you do want to see retracement so it's actually very healthy for the market but if it drops further than it should have even if it still recovers it's telling you that where the Bulls should have been ready to step in or roughly where this box is where the Bulls should have been ready to step in they were nowhere to be found and so the price was able to dump a little bit lower before people decided actually this is a good enough price to be buying which simply means that balance of supply and demand wasn't there at that time and the demand was actually a little bit lower than we might want it to be and so the same thing it shows itself when we move to the upside now obviously when we bounced off this support level it's very obvious because there's no trading that happened in this range I already covered this with you guys in for flies in a video and probably also in a VIP and gold or if we bounced off this level I would expect us to go back near the ten thousand eight hundred yes I do remember saying this near the ten thousand eight hundred dollar range and I told you that we might get rejected from this red box so that is exactly what happened if we zoom in a little bit further we can see that we got rejected perfectly off where this red box is I didn't move it at all and so we end up getting rejected here at a time where you know I think we had a lot of potential to actually sort of trade within this range where you know we could have ended up kind of pushing ourselves into this range and then trading sideways like this we couldn't even break into the range and we've already been sent Louis so we've had the first weakness where we dumped a little bit too low now when we tried to break resistance and enter a new trading range we got rejected and what's already happening right now as a potential dump to the downside it's not confirmed and it can still recover from here because this is a relative area of support there's been a little bit of trading at this range before so it could end up going higher but I think the point is we are seeing this weakness and what's really important here what I'm basing a lot of this video on is that if we end up getting a dump down to this green box I don't think this green box is gonna hold the good news is we do have the ichima coos cloud support and the Ichi mobile cloud when it was support in the previous parabolic uptrend you guys will remember was incredibly incredibly incredibly valuable with a 100% success rate once it flipped from being bearish to bullish when it went from being red which means resistance to support which is green when it made that flip it had a 100% success rate for us and we can see that because every time we traded into the cloud or near the cloud we always with the exception of this week we always ended up going higher and this is a very very very very good success rate for an indicator and I don't see why it would be significantly different again because when it was in a bear market it was again very reliable when we traded in the cloud or near the cloud we got rejected so I don't see why this time would be very different I don't think the Ichimoku cloud has proven itself to be unreliable and that means we have a massive area of support looming here because if you guys don't know the way in Ichi moku clouds works by the way I made a video on it so you can type that in Ichi moko is built like this so type in each omocha and then for flies you can watch that video right now and come back to this one I made a full video covering how it works if you don't know how it works very briefly when the cloud is bigger it means there's a stronger area of support and so right now this is actually the strongest area of support we've had in 2019 it's a very very bullish sign in this case and so finally this is a big cloud does tell me that there's a decent amount of support and you know we could end up coming down to this level and especially if it coincides with where this cloud starts we could end up seeing a nice little bounce but if we end up dropping below this level what it's going to look like to me definitely is like a repeat of what happened in 2018 where we dropped below the line and if we don't below this line the fact that we've already tested it weekly as support and we've already gotten rejected at a resistance range where we can even break into the sideways trading range this would tell me that if we drop from here it is going to be a very very very nasty drop and I honestly don't think that there are any levels that could save this 8500 the the much esteemed 8500 all this entire trading range could be enough to save Bitcoin but honestly if I think it if it drops a level like this if it fails the Ichi moku support over here I don't see how a level like this can also hold it up because we talked about strength analysis we talked about the strength of a support level the strength of a support level here is about as strong as it ever gets with an Ichi moku cloud it's really really strong it coincides with a little bit of sideways trading range but not too much but at the same time it is within a parabolic uptrend and so overall any area of support I'm gonna want to give a lot of weight to simply because we are in an uptrend we haven't disproven that uptrend yet if even in the face of all of these strong support levels we drop lower this to me is a mediocre to good support level this to me given the uptrend run right now is a great support level and if we break this I don't see why a mediocre level would be enough to hold Bitcoin higher I just don't think that's gonna happen and so that would mean we could be ready to dip significantly lower if we drop below this trading range we're looking at a straight drop down into five down into the $5,000 range unless the prior 2018 trading range of 6,000 which was very large unless the prior 2018 sideways trading range gives us a little bit of support will it I don't know because in 2019 when we made our way upwards we didn't stop at all for this resistance range and so on the way down will we stop for this range of support maybe it will be going from the upside down to the downside and I do think no matter what happens we're bullish I do think no matter what happens the worst that the bear market is over I've been saying that since we were trading around here and that absolutely hasn't changed so maybe it's gonna be used as support but I wouldn't on it and so we are looking at some pretty nasty drops if that does happen now what's the upside what's the good news here well the good news here again is that we do still have this Ichi moku support and it is a very large area of support at that also these short-term movements this potential dump that's been initiated it's not a big deal it could definitely very easily recover from here it could also be that we're having some price discovery at this range and so actually we're just gonna keep on going sideways a little bit the bad news again if we zoom into a shorter term time for in like the four hours of the EMAs re the Ichi Mogu cloud is giving us a bit of resistance here and at a time right now or I think we are a little bit weak the resistance is alarming we can already see that it has kind of worked twice here where we traded near the cloud and then again near the cloud on both times we got rejected so this is a massive warning sign on the one hour though we do have a support cloud and it has worked so far the wicks tell me it won't work for much longer but this is very short-term analysis now so it definitely can be wrong straw on the moving average ribbon and yeah we have a little bit of support here it's weak so the support right now because we're trading right at the bottom of it but this is another potential reason that we could be ending up to rise a little bit higher because so far with only only with the exception of this dip here this EMA ribbon since it flipped bullish about over here has been very very good to find support and essentially what I mean here is that anytime we traded in the ribbon or fell into the ribbon or traded near the ribbon we ended up getting bounces to the upside the final occasion right now the current one we're in right now is the only one where it hasn't happened so far now usually when we're trading in the ribbon for this long it means it's not gonna work but we are still in an uptrend of course and and that hasn't really been negated yet the other one is that there's been a lot of bad news in the market lately I can't remember what the details are because really bad news doesn't matter but or any news doesn't matter at that but in the face of all of this bad news the only time I look at news is to judge how we react to that news and we haven't really reacted with harsh dumps in the market we've seen we've seen the dumps already come they have been nasty dumps but we can just chalk that down to being natural healthy market Corrections these dumps have not had as a result of news as a result of FUD for example Trump tweeted out something about how Bitcoin isn't very good and that didn't really affect the market hugely and so and in fact the dump happened kind of one or two days after that so it definitely wasn't because of Trump and something like that if we are actually in a weak market that would have really affected the market now the flip side to that is when we get bullish news it should be very good for the market and we haven't really had that either and so the picture I'm painting for you guys overall is that I'm taking the side of somebody who is right now mostly neutral but also recognizing that we are in a weak position right now I think we're weaker than we are stronger at the moment but overall I am still neutral however the fact that we've traded in a narrow trading range like this and we have the Ichi moku looming above us but we also have on the for our the each of moku resistors but we also have the Ichiro ku support below us on the daily and a massive cloud of support at that it is very very tricky to say what's what the final note I want to leave you with though in this video is that this is a long-term support cloud and we are in a long-term parabolic uptrend so obviously when it comes to doing analysis you need to recognize what the long-term chart is saying then zoom into the midterm chart then zoom into the short-term chart and when all of these charts are giving you a congruous and congruence they're telling you the same thing that's where you get the very very easy trades and my experience at least but when you've got the conflicts here like you do on the one day and the four-hour it's a case of determining which one is gonna be more reliable right now we've not only had a long-term parabolic uptrend we've also had a mid to long-term correction and we've got a long-term bullish sign here so if the long-term trend is gonna continue and right now we don't have any reason to believe it won't other than this short and the midterm trends telling us that we're bearish now with the four-hour Ichi moku resistance for example if these things aren't true and the long-term trend is gonna continue and it has done so in the past with odds like this before then we are ready to move to the upside and so really it's a case of deciding kind of which one of those we're in right now I don't fully know and so I'm just taking the neutral stance or I'm not ready to lose any money on these moves but of course when I am trading it I am sharing all of those details in VIP as I said before you can see the full spreadsheet of the trades that I'm sharing in VIP this is all of the trades ever entering since like December last year you can see all of that in four Slice gold the way to join is by where is it clicking on the first link in the description of any video down below and then if you do want to join VIP click on the ad for slice and then click on send message otherwise the link to this is in the gold channel I'll probably reposted or it's just somewhere there if you scroll up again this is one of our members here who joined it with an 18 hours paid off the fee woke up to find that the fee was paid off with a 15% profit on top and when he joined VIP before already made the feed back in three days so just one of the many testimonials here we've also got oh no this is just a little chart here something I wanted to cover with you basically said the same thing already and so of course in VIP what I am doing is I'm sharing the details on all of the trades I'm making so you can see for example here is the max closed percentage gained or lost and so for example and in the month of June I was closing and in this case a maximum profit of 29% whereas the losses were were all smaller than that you know and this is the first trade in the month so with the exception of just this gain I think all of my gains in this month outweighed all of the losses by a by a massive margin I mean one hundred and eighty percent one hundred and twenty five percent directly one after another I mean that is going to do crazy things to your account balance so if you want to see how I'm trading this you get access to all of the information on my trade or god this is this screenshot is not working so you can see here in this case I was entering a bit of a momentum position so I didn't have the time to explain it fully but right then and there when I entered the position I told you exactly what I'm doing I told you what price Bitcoin is out I told you what I'm doing I went longer than Bitcoin with 25 times leverage I told you the stop-loss will be placed soon and then you know a couple minutes later eight minutes later I decided where I'll put my stop-loss I gave a little update on the ta side and and that's how it goes real-time updates on where I'm placing my orders where I'm taking profits where I'm entering positions of course if if I'm anticipating to open a position in advance let's see if this is one of those I would give all the details before so yeah there you go right here I told you there's a perfect pump on Bitcoin couldn't have been better and so I was ready to this doesn't sound right oh right that stopped at resistance and so this looked like an easy short trade to me so I told you at what level I'm gonna be entering is short where I'll be closing my position in various different things like that so you get all of these posts and you get a weekly altcoin updates you get a bunch of other amazing stuff as well in this sale is going to end extremely soon I'm waiting on one more thing which I won't tell you guys about but once I get this one more thing in this sale is over and you will not find it 50% off again so do make sure to get in 50% off right now half price the way to join is by following these steps click on the first link in the description down below click on the add for flies at the bottom of any link and then click on send message to ask me how to join and we'll get you in group I really hope you have enjoyed this one if you had to make sure to head up those likes subscribe and take the mail I'm out peace

30 thoughts on “A Bitcoin Dump RIGHT NOW Could Be VERY DANGEROUS”

  1. THE LONGER BTC STAYS ABOVE 10k IN JULY THE MORE BLOODY AUG & SEPT WILL BE. 4K β€œMAY HOLD” NO GUARANTEE. LOWERS LOWS STILL POSSIBLE. ON A BULLISH NOTE IT LOOKS LIKE WE ARE SETTING UP FOR ANOTHER BOUNCE IF THE BEARS CANT BREAK 9.6k IN THE VERY SHORT TERM LIKE TODAY.

  2. I have not seen such abnormal crashing against rampant gold rise during everything global economy crisis through the year, especially the worst one is just around the corner. The mainstream has recognized crypto as nothing but thorough gambling shit. This means that the bubble is actually bursting. Worse still, blockchain tech will soon be replaced by a perfected tech called holochain. Blockchain and cryptocurrencies are dying.

  3. The Bull Run started in 2015 so from 2015 to 2017 it did not respect the Green Cloud every time 100% of the time only through 2017 did it respect it 100% of the time bull runs are multi-year events

  4. Nope. 9.5 – 9.7k more than likely before 3 week consolidation.
    July 25th there will be a move.
    Look at June 25, May 25th, April, 25th.
    Bots are set..
    Late August we see 14k
    October – 18-20k .. 35% correction, then we see 30k Jan/feb 2020πŸ€·πŸ½β€β™‚οΈπŸ€―πŸ™ŒπŸΌπŸš€πŸ€—πŸ’‘

  5. Of you're saying there's no bad news in cripto go listen to Secretary of Treasury… (Steve Mnuchin)speach 6 days ago. it's on YouTube and will raise the hair on the back of your neck if invested in Bitcoin

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