Bitcoin Bounce Here – Justin Sun Cancels Lunch with Warren Buffet | Cryptocurrency News



there is more Bitcoin weakness today and I thought so but I do believe that a bounce is near so today I'm gonna show you guys the point I think bitcoin is go bounce I may be wrong but I think we are at a point where a bounce is imminent and besides Bitcoin the big news of the day is Justin Sun canceling his lunch with Warren Buffett this is very very last-minute and at first it was speculated it was due to kidney stones not speculated what said it was kidney stones but now there's more details coming out how that is not the case welcome to today's Bitcoin and cryptocurrency news I am Georgia this July 23rd and I am excited I'm excited for cheap Bitcoin and Andy ready for super chat thank you I there's a lot to discuss I know many of you guys are also waiting for cheap Bitcoin and I do believe there's more to be had but a bounce is imminent so let's dive right in guys thanks for tuning in as always appreciate your support so give me that thumbs up and if you guys are new to the channel make sure you hit that subscribe button along with that notification button so you don't miss out on any of my live streams in the future all right so let's take a look bitcoin is at 99 23 and yesterday stream it was around ten thousand two hundred seventy let's say ten thousand three hundred and I said I think there's more weakness it just looks like we haven't bottoms out yet and that's because I'm using some very basic indicators that tell me a few things one is is the momentum going and number two is Bitcoin oversold and yesterday's it neither one was the case there was no momentum shift and Bitcoin did not seem like it was at the extreme oversold levels but but we are approaching that point so I do think a bounce it is imminent now a lot of people still think that we're trying to fill that futures gap that 8,500 mark but I don't believe we are go go that low again I may be wrong but I do think I do think we're gonna see a bounce in a minute and here's why because ever since we found from that 9,000 mark okay up to up to about ten thousand six hundred and then we came down and then we went back up to the 11,000 the 11,000 was the point where I said before I think if we break through that then we're on our way to 13,000 but we weren't able to break it so that's unfortunately so that means we'll probably go see some more sideways movement and that is exactly what we're seeing now we're seeing weakness ever since we hit $11 and got rejected we started coming down now the two things I talked about momentum shift and oversold if you look at the four-hour Bitcoin has been I mean it's been pretty pinpoint accurate in terms of when Bitcoin is overbought oversold Tony thank you for that and you can clearly see it at the points where we bounced off of and we had a reversal at 13,000 at 11,000 you could clearly see that the momentum was about to shift right and if you're looking at the opposite way because those are the tops so what about the bottoms the bottoms are the same thing so last time we hit 9000 you could seek stochastic RSI bottom down at zero RSI was below 30 that is a ultimate combination in my eyes in terms of yes there should be a bounce and when we went down from 11,000 all the way down to 9,000 that is exactly what happened we bounced right back up to 11,000 if you're a swing trader or you're looking for a point to get in would have been an awesome point to get in but right now if you're looking at it we're getting there but we're not quite there yet so as BBC retraces down we're below 10,000 take a look take a look stochastic RSI is nearing bottom and it's looking like it wants to cross over and try to do that a couple times once here once here but it wasn't really near the bottom now we are at the point where near zero so in terms of momentum shift its imminent if it's not ready here now the other thing that we're looking for is the very oversold extreme oversold situation and this is what we saw last time when we saw Bitcoin dip down to 9,000 you can see RSI was below 30 now where we are now we're not quite there yet so if you take a look I'm gonna make our side a little bit bigger so it's easier to see we're right we're right around 36 it does look like it wants to inch up but again there's a lot of fake out so as you can see it inched up here and come down overall you're you're still seeing a descending top for our side I don't think Bitcoin will bottom or bounce until we see this hit at least 30 or go below 30 kind of like this situation and also this situation when we came down from 13,000 13,000 down to this point right again you could see that so 10 stochastic RSI bottom our side bottom and then we had a good bounce from there and that was like around 9900 all the way down to the 11,000 right so you can kind of see this when we see overbought oversold situations now I know a lot of other ta people they're looking at channels and they're looking at the knot Fibonacci points they're looking at all these lines in here and there but what I'm looking at is these two things because it has held true especially on the four-hour now the five-minute 15-minute one-hour the shorter timeframes you could see stings shift pretty pretty fast and it doesn't always correlate with these two indicators but on the 4-hour it's been pretty dead accurate now how far it goes in either direction that's hard to see but you could pretty much pinpoint exact point of a momentum shift and that's going from up to down or down to top-down to up so where's that point at I drew it in the thumbnail this big circle right I think where we are seeing how close we are to a bounce I think it's that 9800 mark because that is a point that we bounce from the very first time we went to thirteen thousand eight hundred thirty-nine eight hundred we came back down bounced up a little get and then drop down to about ninety eight hundred and then we went from 1900 to thirteen thousand so it's looking like it's shaping up to be the same thing now if our side was higher okay and stochastic RSI was not near bottom I would say yeah maybe we go we go below again to 8,000 to 9,000 impossibly head towards that 8,500 mark in terms of filling that futures gap but looking at where the indicators are I just don't see it so I'm anticipating once Bitcoin gets to about eight ninety eight hundred we will see a bounce now how significant that bounce is we don't know we can start going up very quickly we have seen very rapid bounces remember we had a little bit of weak point at this point where Bitcoin went down to about ninety three hundred and people thought again we were gonna go lower but boom we had a will pump us up and we went from there to the eleven thousand in really short order so from 1900 we can once again see a quick bounce up to eleven thousand within a few days so that is the point I'm looking at right now so those of you guys that are long-term holders you don't have to worry about this you know that just by whenever you can accumulate cheap Bitcoin when you ever you can I'll hold off or life-changing well you don't have to time it right but those of you guys that are looking for swing training or maybe you're looking for very accurate accurate pinpoints or good stages to buy at right because I always say buy the dips so I would say that is a pretty good point now I've been wrong many times before and we concern LIGO below but I do think from from an educated guess standpoint from a sharp standpoint and from looking at these indicators which has pretty much held true for a long time ever since ever since BTC started going up I mean you just correlate this dough up and down up and down up and down so it's been pretty dead accurate so I'm thinking it's 9800 so let's see what happens I think we're approaching it weird right there where we went below 9900 a couple of times now one more push I think we're gonna get right down there so if you looking at the 5 minute take a look at five minutes so we went up again about 10,000 all the way down to where we are now right same thing stochastic RSI topped out it was crossing down our side topp dogg's crossing down right so within the 5 minutes and 15 minutes you go see more of this up down up down up down but when the overall the overall I guess the momentum is still swinging down what you go see what these 5 minute or 15 minute intervals you go see lower lows and lower highs and pretty much you go see then I do think we're gonna see more that as time moves on but we'll have to see but that's where I'm thinking that is what I'm eyeing and I'm I'm looking at my chops because I can't get enough of cheap Bitcoin while it's still here because once we blow past this once we get past our 13,000 I move beyond right once back really starts kicking in and once we really start getting institutional money into the space these days we'll be long gone and they will not be here anymore so right now it's time to get as much cheap it coin as you can while it's still here all right moving on from this let's talk about the other big news and that is this last minute last minute this this this very hyped up and anticipated lunch what Justin saw in a warm Buffett and all his invitees it got cancelled now I'm sure those of you guys watching running know about this but Justin son bidded and auction this is a charity auction happens every year and he paid four million dollars for this opportunity and invited a lot of prominent people a lot of people denied them and then he also didn't buy live people which I thought he should have and he didn't but he ended up started inviting a lot of CEOs of each crypto exchanges and a lot of them started to say yes last minute but here here's the fishy thing and I think everyone thought that there was some fishiness behind this because trying the foundation all of a sudden announced that this was postponed okay and that's because Justin's son falls ill with kidney stones right so I mean here's the thing when this gets released last minute like lat literally last minute like a day before or two days before it's not you know you got to question it right I never had kidney stones I know it's very painful but people that usually start developing symptoms of kidney stones it starts happening a lot earlier than two days I mean a lot earlier than when it gets diagnosed I should say at least that's what I hear like you hit you get discomfort until it gets to a point where it's just unbearable then you know you can see a doctor and so forth but still if you take it with a grain of salt it's like okay maybe maybe outside chance it is kidney stones right but now there's more reports coming out there's more reports coming out and if this is true not only is it devastating I mean in itself its acquisition an accusation so if it's proven false that's fine but again it kind of shows you that they try to mislead their investors and they simply lied about it and that is this this is kind of breaking news this is coming out of from China and there's a lot of things happening okay now again these are unconfirmed but it seems like this may be legit so there's a couple going on one is that a lot of people are accusing Tron and Justin son of having a legal a legal token sale because he did have he did have a Tron ICO but he did return that money later on but still people are pin pointing to that and people that are not just in son fan or Tron fans they reported to authorities so probably probably he has to at least answer some questions about that but his other startup just so happens P whoa I believe a social app it's like an Instagram or snapchat competitor it's accused of illegal involvement with pornography so he's probably being questioned on that as well okay now again both of these may not come out to be anything okay but it seems like why he can't go to the launch is because he's under questioning right now in China and he's not allowed to leave the country because he is still a Chinese citizen so that is what it's looking like at this point in time so again if these accusations are proven false that's not so bad but the thing is he lied about it then that means this whole thing about kidney stones is just false and he you know the trauma foundation or whoever could have just said well due to unseen circumstances or something like that right it would have been I think a little better than just coming up with something like kidney stones and what made me questioned as to is if you look at Justin Sons Twister Twitter page you'll see that when this was when this announcement was tweeted out you could see that hours ago just five hours ago he's still inviting people to the lunch okay so if he was really that ill with kidney stones he would still not be actively trying to invite people to his lunch it just doesn't make any sense and he even had the willpower to retweet this when it came out so just this whole thing is just not good and I wonder one of you guys one of my followers just pointed this to me Austin Aaron from al-quwain Daily it's funny that they have their their video today is all about this private letter and this crypto influences party and I mentioned this that I was invited to this it's this is supposed to be an after party after this big lunch event now I declined because I felt like if you're going bite influencers you should pay for the accommodations which they said they would not so that's why I declined it already but the fact that they're still having it after the fact after this is happening it's just completely pointless because even when I asked will you know will like Warren Buffett be there and they said no right well Justin son be there they said maybe okay what about the other people that you may want to talk to like Charlie Lee and so forth they said maybe we don't know right so it's just gonna be an after party and you don't know if there's anyone significant to talk to and especially after this if Justin is really stuck in China or if he really has kidney stones he's not gonna be there so it's just like almost no point so I just wanna I just wanna talk about that really quick all right and that is pretty much it for Tron news and of course this is not helping this is not helping Tron's case right now because I mean even though this is a postponed launch it's not canceled but we'll see maybe Warren Buffett decides not to go through with it but that four million dollars is really chump change when you look at Tron being down 20% that's hundreds of millions of dollars lost is that coming out of Justin's pocket no it is coming out of Tron holders pockets so again this all adds up and the market antics for Justin and Tron is just really starting to get to them now from a marketing standpoint bidding on this bidding on this launch it was brilliant okay what it brought a lot of attention now it's bring a lot of negative attention because every news media lardy go do their go talk about why this lunch is canceled and were to go look at there go look at these allegations that's that's that's pointed at Justin and his companies and what he has done in the past so this is not good for Tron there's there's no way to spin it just just doesn't look good anyway you try to look at this all right let's move on from trying what else is there this is kind of funny that that there's scammers already that's creating Facebook groups and pages trying to sell Libra and and here's a page and and there's a token sale and it's funny because Facebook only knew about after the Washington Post actually told Facebook about it they didn't even know about it so this is something this is more ammunition that the regulators and lawmakers and everyone else is go use against Facebook they're like you can't even control your own platform yeah I mean if you can't even control fake pages that sound Liebherr on Facebook how do you go handle a digital currency that's meant to be used worldwide that is meant to disrupt all the banks in the world like are you the company yes that's that suited for this so this is not looking good for Facebook and it kind of shows you that they kind of tweaked their policy to suit their needs because remember last year Facebook was one of the very first companies to come out to ban all crypto ads and then a few months later guess what happened they relaxed that stance and they said okay well allow crypto ads just not ICO ads and you know why they did that because they were planning an Libre so they can't be biased and say I'll go with badly we're go ban crypto ads but still come out their own coin so they relate relax their own stance to suit their own needs so again this kind of behavior doesn't sit well with anyone not regulators not lawmakers not countries and certainly not not people that want to invest in it although it's not really investment it can't be because it's a stable coin but anyways it still doesn't look good but what this helps is Bitcoin it helps a certainly house Bitcoin because all that all the ammunition is pointing at Facebook and Libra but but it's opening minds and you just like yesterday I talked about eBay CEO talking about the use of Libra decreasing fee CEO of Blackrock is saying the same thing everyone is starting to question why they're paying so much fees to all these financial companies like the payment gateways to credit card companies the bank's the currency exchanges why are there so many fees when things could be near-zero with and being done with the crypto so that is why it's helping Bitcoin and the rest of the community alright what else is there let's move on coin base coin base hits 30 million users adding 5 million users in the last 10 months so there is retail retail interest in this space is just that this is just this is just the beginning this is nowhere close to FOMO level and I've shown you guys before if you do Google go to Google search treads and search buy bitcoins buy or Bitcoin in general it's still very low it's nowhere close nowhere close to the peak levels we saw in 2017 so even though this is really good once true formal hits with retail investors coin base is gonna be adding like 5 million users per month probably even faster than that so it's definitely going to increase from here so I just talked about companies trying to disrupt all the fees and so forth right it's funny because now PayPal is trying to come out their own they have just launched a service called zoom an international money transfer service in 32 markets across Europe and is this a ripple killer the thing is it's not first of all it's still controlled by PayPal and I ranted about how evil PayPal is yesterday they can lock your account seize your funds and force you to do things that you shouldn't have to do with a payment processor like pay PayPal for example they will force you to provide receipts of things that you're selling like who does that they will force you to provide your social security number so they could do a credit check on you like what gives him the right to do so but there was back in a day there was no there was no competitors PayPal so you had to comply or your funds just simply gets locked up forever there's no there's no set time when they have to release it to you because they're not governed by banking laws because they're not officially a bank so it's funny that they're coming out with zoom to try to compete but still it's mandated and controlled by PayPal if they want to lock it up they will so it is nowhere close to ripple and plus there's limitations customers will only be sent ten thousand URLs in a single transaction what crypto we have seen you could send millions to hundreds of millions with very low costs and no one is there to stop you you can send as much as you want as little as you want and that's not the case with zoom so this is no not a ripple killer it's not a crypto killer it's not any kind of killer and I don't think anyone's gonna be using this so that's the end of that and then lastly the New York Post this guy this guy is just clueless and this is one of the guys that keep trying to spread Fudd and I just noticed this because the picture actually says Bitcoin cash so it kind of shows you how how clueless this guy is because he came and tell the difference between Bitcoin Bitcoin cash but anyways he's warning people he's warning people that bitcoin is going to be used Iran to circumvent you know sanctions and how we have to be careful how we have to be careful that's why these and he ends by saying that that's why these fake currencies will eventually lose the confidence of the world investors and will ultimately be worthless and that is why he is clueless he is clueless every single country an enterprise company out there is looking at cryptocurrencies right now and many of them are in fact are trying to come up with their own crypto right so for him to say all these fake currencies that will lose the confidence the world investors know that is false it's only goal increase from here and guys like this will simply become a dinosaur and and just fade away fade away into nothingness because they will become irrelevant because they won't know how to talk about crypto once it becomes the dominant dominant payment system of the world all right guys that's pretty much it let's do some Q&A people are really ripping I know it's bad I know P I'm looking at a chat right now people are really ripping on Tron right calling on Tron connect the China hustle Tron edition there's a lot going for it it's I mean it's it's easy to pick on Tron right now okay but prepare yourself conservative estimate for P DC is definitely conservative 20,000 I think we're gonna go about beyond that but I know it's very easy to pick on Tron right now and this is why I've been very critical of Tron I like the technology I in fact recommended Tron in 2017 because I saw the potential in Justin he's actually a brilliant guy he has done a lot of things but you know the I don't know power or whatever the social media just gets to people he started doing some very questionable marketing things like pre announcements of pre announcements and then he got caught in certain lies and as he ramped up his marketing efforts it just got worse and worse in my opinion but he has done some really good things now trying itself from a technology standpoint it is out its main that delegated proof of stake he has his super nodes running and he bought BitTorrent the torrent speed is up and running and he's working on some network some from a technology standpoint it is good there's a lot of things going for Tron and BitTorrent speed you can really pick up and try and get integrated and one BitTorrent started using it it's still gonna be a phenomenal thing and there's a lot of things you could do with it but things the marketing things like like what he's trying to do now he's going like big-time right there's this lunch with Warren Buffett it's as big as you can get your time having lunch with one of the wealthiest people in the world and trying to convince some of Bitcoin I was critical of that because I thought all most of his invitees just didn't make sense they can't argue with big hard to go argue Warren Buffett he should have invited more fundamental like technical people that can really speak to it or maybe even some financial people but I thought his the selection one just wasn't that good but now now because he's getting in some hot water at the worst time ever this is gonna bring the ultimate negative attention to him like the ultimate negative attention and it's not gonna help trans case at all and and I I don't know I don't know where words go go but even with a 20% loss it's still in the top 11 is still sitting at 1.5 billion so Tron is not going away anytime soon but I really would like to see truck I mean Justin just kind of tone down his marketing way down way down just be quiet and just perform Tron has a really good shot really good shot it wants to throw any tharam it has a really good shot to do so he just needs to shut up and perform and that's simply it what is your all-time high estimate for Bitcoin so I just answer for for a conservative 20,000 for Bitcoin at the end of the year max I don't know I'll say 40,000 if we can have 40,000 by then a year for Bitcoin then next year for sure we are hitting a hundred plus and I say that people laugh ease we're like oh we're only had 99 hundred but let's not forget we were just that 14,000 not too long ago things can turn around really really quickly and I do believe once we pass 20,000 is the unknown and we can just see craziness afterwards so that's why that's why I'm sticking with that ranging Bitcoin bull ass George can you check the weekly RS on Bitcoin and it looked at bearish divergence occurred at the end of June and recent one below 365 oh hold their own concern let's look at the weekly I'd normally don't look at the weekly uh take a look at the weekly well the weekly is trending down but that's because we were just so damn high I mean look at it you know speaking you know I talk about momentum shift right take a look at stochastic that this was at a hundred percent for months months until we had a slight dip here okay and then it went back right back up so it's about time that is go come down right that's healthy we want it to come down if it's just though it just could stay up there is not good but our sigh is still very high it says 64 so it does kind of look like from a weekly view you know there's more weakness but again this can turn around really fast it doesn't necessarily mean that you have to bottom out at least from because of weekly if you're talking about weekly monthly these are these are macro views these last months two years okay so obviously when something dips low again like situations like this when they're both bottomed out right that means the reversals probably coming and that was actually the fact that yeah that was bitcoins bottom before we started going up right but how long did it take for that to happen I mean RSI was here and it bottomed out here and that took that that took a long time that took over a year right so in terms of looking at a weekly this is why I'm not so overly concerned because it takes months two years to see these kind of things move but if you go to if you go to monthly it looks pretty darn good right monthly we're shaping up we do have this slight slight dip over here right but that's natural even look at our way up in 2017 you'll see points where we dip down right but we continue to go up and we're certainly still moving in the right direction so if you go way far out and a monthly we're doing pretty good I don't think Tron is going to zero I don't think so as plenty of money plenty of money in the bank to operate with crypto boss says 9100 you get a double bottom that could be I I don't like so much following patterns like double bottom or reversal headed shoulders or shattered shoulders and all this stuff I just type know what I'm still an amateur I'll be the first to admit amateur at best and that's at best right but but the way I'm looking at it is momentum shift and old versus old overbought that's what I'm looking at right now and it is working but again if you're a long term holder this really means nothing we all know we all know bitcoin is good lead to life changing well let's go go much higher so this is all short-term stuff so really if your long-term holder none of this really matters and but it's funny hands because I want to I want to show you guys this if you guys aren't following me on Twitter you should do so I posted this oh here this is important 15 million dollars with the ripples transfered bits damn this was 15 minutes ago so guaranteed that ripple is go go down if it hasn't yet because this means they are selling it but I made this I made this very non bias poll what would you rather put 60 K into a new vet Bitcoin gold retirement plan obviously what the people following me I expected Bitcoin to take a huge lead by expected almost everything to be like a hundred percent for Bitcoin but no actually 14% people actually voted for a retirement plan is six percent voted for gold maybe a Peter shift was following my post I don't know but but I just thought that was kind of funny AGame thank you for that once again I was wondering of you he's asked I was wondering if you have preference on a solid or trust all cable exchange for things like me Chan to finance I've been looking there there's a few there's a few so I've been utilizing cool coin a little bit and I like cool coin system but there's also a lot of other like swap exchanges obviously there's Dex's but there's also like things like Khyber or chain jelly and those kind of things where you provide your own wallet and they basically swap it for you so there's those that exist as well so I've been looking at more into it I've been thinking like hey what's what's life after buy Nance I haven't really thought about it I'll probably start really thinking about it next month because then we only have a month to go so I'll get back to you on that but there are a lot of options out there right now a lot of options all right so where we have Bitcoin is still at 99 50 so from a five-minute standpoint it looks like we will go up a little bit but most likely we're just go form a lower high you look at a 1 hour 1 hour started to climb up a little bit but is really not going anywhere because right now as you can see it's just a downwards downwards I guess in a downwards channel if you drew this out and the momentum is swinging down and I do believe we need to see we need to see both our side bottom out around the 30 mark at least write a stochastic body mount around zero to see that momentum shift and once we see both something like this point where we hit 99 thousand we could certainly start swinging back up and then we'll see if it has enough momentum to break through this 11,000 because that's critical once we start swinging up which we will for sure and I do believe that's very soon we weren't able to break 11100 a couple times now is third time to charm if we do then we're well on our way back up to 13,000 right alright guys that is it so make sure make sure those of you guys are interested make sure you got got that cash ready to be able to buy this cheap bitcoins I certainly will be looking for a good entry point and I think that bounce is near alright guys thanks for tuning in make sure you hit that like and subscribe to the channel so you don't miss out on any of my future streams and I will see you guys tomorrow at you lovin a Central Standard Time all right take care of guys bye bye

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