Bitcoin Correction Coming! | ETH Not A Security? | Galaxy S10 Does NOT Support Bitcoin… | Trezor



in this video I want to talk a little bit about this horizontal triangle that we might be forming here and the possibility of us forming yet another falling wedge here and that would be the third because we saw one there and also one there more about that coming up and I also want to talk about the fact that the Samsung Galaxy S 10 script a wallet does not support Bitcoin that's very weird we're gonna take a look at that and also this article from corn telegraph claims that US SEC chairman Jay Clayton confirms aetherium is not a security but did he really confirm this I actually want to investigate this topic a little bit further go into the actual statements by Jay Clayton and analyze that with you guys and if you think that that sounds interesting that I think that is you definitely for this fail hello guys and welcome to the moon my name is Karl I'm into bringing this cryptocurrency video and let's take a look at the recent price action and we are still going a little bit sideways in this range here or slightly upward still but in the more recent for our channels here we have seen this kind of starting to top out and maybe starts to reverse and the line that I talked about in yesterday's video is this descending yellow line and if we do see a rejection from this line well in that case it's kind of obvious that we do have this kind of horizontal triangle going on with this descending resistance this upwards training support and yeah getting a rejection here would logically mean that we are going down and probably testing the this support line again and nothing guarantees that this support line is going to be holding up the price here for example going down towards the 200 weekly moving average is something that I would suggest is very possible going in testing it and then ultimately if we're gonna break it or not that's that's another question but I think we're definitely in a correction going down towards that level and testing it and right now I just feel like it's kind of hard to argue against the fact that we need a correction from this breakout just like we saw here correction from that breakout and exactly how that is going to look is also just another question last time we did actually see a falling wet form and remember I talked about the fact that it's possible that we might see yet another falling wet form as a correction phase off of this breakout and this is a theory I had long before we even broke out of this falling wedge so I started to talk about all of this way back here or something I think so what I said was Ruggles II breakout out of this and probably go up and meet our target somewhere here and then it's very possible that we might form yet another falling wedge and that would be the third falling wedge as you can clearly see here and the update right now is that that is still pause but so far we don't have enough price action to put any of these lines there so that's just gonna have to be a theory and we'll have to watch that as we go here and I think of this descending yellow line has also not really yet proven itself we need that decisive rejection before I say that this is the ultimate line to watch because if we see bass chord break up a little bit here before going down again then I think we're gonna have to adjust this line a little bit but yeah it is hard to argue against the fact that we are going to see correction now I think that still the main clue the absolute main clue is still the the weekly stochastic arts I'm getting a bearish cross and very soon here and I just feel like the weight of the previous price action here in the stochastic RSI is just very hard to argue against just like I've outlined previously that when we've seen these pairs crosses we see at least a 30 percent correction or that's kind of the average between 30 and 40 percent correction and that means that at least we are going to see a big correction and actually if we also go over to the corn market cap something that I have noted is the fact that we are seeing some Aksarben sin the altcoins I feel like many days right now very often we see some altcoins do very well we see these big 10% pumps and we also see the who also have seen for example this coin is up a lot and did you buy it up we are seeing more and more of this kind of exuberance in the altcoins and why is this well I think that we could actually kind of analyze this in two different ways I think one way we could say that this might be a good sign maybe people are coming back into the market feeling that they want to put out some risk into the crypto and so they buy some alt codes because alt codes are obviously very risky and that could become a self-fulfilling prophecy that when more and more investors come in taking more risk that pumps up the alt codes and that even more people come in and something like that could put an end to the bear market so that's one way you could analyze it the other way you could analyze it is more to the bearish scenario where the fact that we're seeing something Subarus coming in right now is that more and more people believe that we have bottomed out and they are the kind of feeling the fear of missing out so they want to put in their bet in before we see the big search to the upside and maybe that just tells us that we are probably in for another correction another break to the downside to make the majority suffer because that's that's how the markets work basically if more and more people start to believe that we have bottom doubts that probably means that we have nos bottom doubts and if we go into the Bitcoin dominance here we can see that it's currently sitting at fifty one point three percent and I believe that what we can see is that the trend generally ever since September 2018 is the big con dominance going down we can clearly see that the general trend has been going down and also if you zoom in a little bit more we can actually see that for the past few months ever since January we saw a high of 53 point 3 percent in the Bitcoin dominance approximately ever since we've actually seen the big con dominance go down ever so slightly down towards where we are right now at 51 point 3 and we are currently at a low the last time we were at 51.3% it was actually all the way back here that was actually in January 2019 and I don't know about you guys but to me this would actually be more of a bearish indicator rather than a bullish indicator actually because I think that actually the Bitcoin dominance might actually work kind of like analyzing the Bitcoin shorts we see kind of the sentiment here when we see exuberance in the old coins that means people are very bullish very positive they believe that bitcoin is going to go up in value so they want to buy altcoins to kind of slingshot around Bitcoin and making more gains than you would do with Bitcoin and also the contrary when vehicle moves down people want to deal leverage and go from risk and go into the more safer acid which is Bitcoin in this case and we see these big volatile swings in the between dominance accordingly and you know what let's actually for fun go back and test this theory so right now we are very low my theory is that we're actually going to possibly see a correction because of that and let's take a look at the recent low back in January the fifth was the previous low let's go back to the chart and take a look at that so January the fifth was back there that was actually right after the breakouts you could say and we did actually see correction after that and let's take a look at the next low the next low was right there November 6th was the previous low after and after that low we did see big con dominance go up again so November the 6th let's take a look at that November the right well that's actually right before this big crash below 6k and that's quite interesting actually seeing so that I mean that was actually a very large Christian obviously so that's 2 out of 2 so far I actually haven't done this before so this is new for me and the low before that one was right there September the 30th let's go and take a look at that I have actually not seen this before so this is first for me as well so September the 30 was right there so that was maybe not really as significant as the other two I guess we saw a small question there but I think that that one did not result in a correction and if we go back and the next time was probably this September the 1st let's take a quick look at September 3rd first well September 1st was actually right there as we were starting to top out and we did actually see big correction after that one and going back let's take this point the absolute load right there May the 6th that was a big blow for the big codominance May the 6th well what do you know that's that was actually pretty much exact hi right there right there we have May the 6th as so that was oh and I mean with that was a huge correction guys so May the 6th was right there as the beacon ominous was at this low and let's take this point as well right there January the 13th just to take a look at that that was actually right there arguably right before we broke this support and got a big correction so maybe the beacon dominance is actually more significant than I previously thought so when we are low that means that we are probably going to see a correction or at least one two three four five six so five out of six lows in the big codominance would did see a quite substantial correction so yeah we're probably in for a correction and I think the beacon dominance is yet another clue as to why that's probably the case the beacon dominance is actually experiencing its low right now please comment down below what you think about this bitcoin dominance theory actually I haven't done this before so this was new for me as well but yeah it actually seems quite significant and it makes sense when when alt course boom people are bullish and we know that when people are bullish the markets tend to go the other direction to the downside because what the majority has to be wrong so essentially when the Oscars are pumping you should get worried because were probably in for a correction that's the bottom line here next up the Samsung Galaxy S 10 script a wallet doesn't support Bitcoin and this has had people scratching their head how can samsung roll out crypto support and not supporting Bitcoin so they actually are supporting a theory Amanda theory based tokens and this article states that this wallet does include support for two unproven little-known crypto tokens engine coin and Cosme coin it will cause me and we know a little bit about engine having actually a well-regarded web service platform for gamers behind it so I think that engine has a few things going for it however caused me at least at the first glance has a less impressive pitch offering rewards for beauty product reviews something like dental cone for cosmetics and I mean you don't really want to be compared to ten to corn and both of these tokens have seen the massive price rallies obviously because of the big news and in addition to supporting cause me an engine the s tens block chain wallets will interface with established applications including the coin duck payment portal and the crypto kid is collectible game system so the Samsung Galaxy S ten will be filled with etherium token and crypto kiddies but not Bitcoin very weird I am assuming that they are working on getting bit on in there anything else would surprise me very much let's go to the next story so US SEC chairman Jay Clayton confirms etherium is not a security but did he actually do that let's take a look at it so citing a letter written by Jay Clayton : Center reports that the SEC staff has found that aetherium is not a security under US law so the back story here is that a few months ago William Hinman who is the SCC's director of corporate finance said in a speech that he believes that that aetherium in its present state won't be regulated as a security but that was not an official statement by the SEC and some people believe that an official statement regarding aetherium has come right now because Cohen Center has worked with u.s. representative Ted Budd to send a co-signed letter to Jay Clayton who is actually the chairman of the SEC asking if he agreed with William Hinman about if hearing not being a security and now we have actually gotten a statement signed by Jay Clayton himself so this is as official as it gets so the key part of this letter is the following a digital asset may be offered and sold initially as a security because it meets the definition of an investment contract but that designation may change over time if the digital asset later is offered and sold in such a way that it will no longer meet that definition so in other words a token can be security and later lose its security status if the requirements are met and if a token is a security or not is decided by the Howey test and the bottom line here is that aetherium could have been in security but now could have lost its security status but what I see is that he does not specifically talk about a theorem here so he's just talking about tokens in general and does not actually specifically say that the theorem is not a security but regardless this is bullish news because this means that many of the icos out there that may have been securities could actually lose that status and subsequently will not have to comply with securities regulation but no I don't see how we have an official statement regarding theorems security status next up tracer has actually responded to Ledger's claims about the vulnerabilities in the treasure hardware wallets so yesterday's video we talked about the reports by ledger that the treasure wallets has a few vulnerabilities that they were calling critical treasures now come out and claim that none of the weaknesses revealed by ledger in this detailed report are critical for the hardware wallets aspera treasure none of them can be exploited remotely as the attacks describes required physical access to the device specialized equipment time and technical expertise and here I actually tend to agree with the treasurer just like I actually told you in yesterday's video that this physical access part of this is actually a key thing it's not like someone can hack into your treasure from a remote location they actually have to steal the treasure the actual device from your hand and then they need equipment and time and expertise to actually hack your treasure so it's not like this is some critical vulnerability that totally undermines this the security so that it's not as bad as it might have sounded in the letter report and present further cites the results of a recent security survey performed in partnership with major crypto currency exchange by Nance and according to the survey only six percent of respondents believe that physical attack is the biggest threat to their crypto funds while 66 percent claimed they could say to remote attacks a main problem I would say essentially the bottom line here is that if you are wondering about your treasure I don't think that there is any reason to worry it's probably completely safe completely fine even though this might be vulnerabilities I tend to agree with treasure they're not that critical really and I will leave the link down below if you want to read through these are the these are the vulnerabilities that ledger claim are are critical to medium to minor and then treasure they got their response here saying that some of these are either patched or not critical and to be honest I don't have the technical expertise to decide who has the right or wrong answer here but I will leave the link down below if you want to further dive into this and explore this topic further but this is going to be it for this video I hope you enjoyed it if click down here your that bits mix tutorial and I'll see you guys tomorrow Oh

48 thoughts on “Bitcoin Correction Coming! | ETH Not A Security? | Galaxy S10 Does NOT Support Bitcoin… | Trezor”

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  3. Btc dominance looks like to go lower. In general it is possible we see a fast bounce if we drop down some hundret points in Btc. But we also should see new yearly lows i think. Bearmarket should last longer as last time.

  4. I'd suggest wiping any Trezor or Ledger device you have if you're not using it regularly. Restore it from your seed when you need to use it, then wipe it again. A twelve word phrase is actually pretty easy to remember once you've typed it in a few times. To keep your trading portfolio accessible on the device, create a new seed.
    I have a Trezor and use it as a paper wallet / seed generating machine.

  5. Great find on the correlation of corrections to a low in Bitcoin dominance. The results are hard to dismiss. It is definitely an indicator of an impending correction when it is hitting low points.

  6. Lol omg there you again bragging over nothing you’ve done. You keep saying it happened just like you said it would. Buy you always give two scenarios one up one down so stop with the bull. Stay real and people will, respect you more. You don’t have to pretend to be a rocket scientist. You do fine without the bragging

  7. Wow Carl, excellent observation wrt BTC dominance and dumps. 3 times makes a trend!!!
    When BTC dominance goes down, it shows people are greedy.

  8. I can see a BTC correction coming. Thoughts on imminent LTC golden cross? Looks like the 50 MA could cross above the 200 MA any day now, yet there is a divergence between price and RSI …

  9. Because we know BTC corrects less to the downside than Altcoins, it's quite obvious that this analysis of BTC low point dominance resembles an upcoming fall in price of the whole marketcap and all prices in a bear market.

  10. 1. How about adding the BVI indicator, have you taken a look. (Bitcoin Volatility Index)
    2. What are your thoughts on bybit exchange, can you do a review, from the moon ofcourse 😉

  11. come on man every day you put a video and telling the same things every time i am not sure anymore if you upload the same video or not

  12. Enjoying the analysis. Hit the likes and bells folk so you do not miss the posts. I did sign up to BitMEX with your affiliate like and watched the video on shorting. I would like to understand better how one gets wrecked with shorts. TBH I watch a lot of videos on various subjects and often they do not answer my questions. Your video is great and I will watch it again. For example I bought XLM when it was going down, waited weeks and eventually y limited order was filled and I made a profit. If I had longed I understand I would have lost the money invested bu at what point would I have been liquidated. In other words how do you know how much time you have to wait before you get liquidated. I have put he Moon at the top of my list folk and I have watched lots and lots of folk and still do watch some. So for probably the last time Carl if you want me to help you shape a particular video based on my 35 plus years of communications and media experience do let me know. Hallam in always sunny Barbados..

  13. Hey Carl, thanks for this video. Did you know that you can measure the bitcoin dominance more accurately on tradingview instead of coinmarketcap. On tradingview its under symbol btc.d

  14. Everyone is waiting for the upcoming correction to $2700's…….
    I am waiting to close a short term trade to $4170's….and curtail altcoin positions right after.

  15. Great Hidden Crypto Inversion since January (since BTC is forced by whales to become a stablecoin): Altcoin Profits to be used to buy more BTC later!! Thus Altcoins will start supporting BTC price now.

  16. It is so surreal to me how this story about the s10 having a "crypto wallet" installed right out-of-the-box is complete bullshit, has never even been mentioned by official sources/outlets, but people in crypto just keep repeating it, and repeating it, and repeating it… The phone does not come with a crypto wallet pre-installed. It just doesn't. Get over it. There's just a shitty ETH/ERC-20 wallet available from the Galaxy App store. That's it. Nothing else.

  17. The market is nuts its like a casino just when you think you are doing the right thing and start placing your bids it flips on you and makes you lose. The market always wins eventually against the majority just like the casino always wins against the majority.

  18. small caps pumping yesterday now it is time for high cap alts.. trx xrp neo are my horses also VET BTT took some nice profits already 😀

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