hey guys what's going on Jib here and in today's video we're going to be discussing how Bitcoin could soon crash all the way down to around eight thousand seven hundred dollars or even lower because of the bearish price action that we've been seeing happen here over the last several days Bitcoin followed through with his head and shoulders pattern and crashed all the way down to where we said it would in yesterday's video up around nine thousand seven hundred dollars and in today's video we're going to continue discussing that topic and from there guys we have a very wild ride of a story this is really interesting you don't see this kind of thing every day hashtag free McAfee John McAfee stays missing after being allegedly detained by the US government this was all being recorded live by someone that works with him on his Twitter John McAfee was basically detained and according to him pretty much kidnapped by the CIA and now one of the people that works with him is threatening to release confidential secret information to the world to threaten the CIA into releasing John McAfee this is really really crazy guys it feels like a John James Bond movie is going on right now I'm gonna get you caught up on what's going on here because this is actually ridiculous I think you will find this very entertaining so I do hope you guys do if you do enjoy today's video make sure you smash that like button you can also support the channel and get daily updates on crypto currency technical analysis by hitting the subscribe button and the like button and also remember guys that we are running that sale on the crypto currency technical analysis Academy if you want to learn anything from the very basics of crypto currency technical analysis all the way through much more advanced concepts in the subject I highly recommend the crypto currency technical analysis Academy there's a $40 off coupon in the description down below you can click the link and see what we have to offer if you like it you can join the over 700 members we have over there I do hope to see it your pretty face over there in the CT to a anyway guys without much further ado let's go ahead and dive right on into the meat and potatoes of today's video as we can see here guys bitcoin did follow through with this Head and Shoulders pattern as we discussed in yesterday's video but in yesterday's video Bitcoin was in this downtrending trading Channel right here this falling wedge right here bitcoin did briefly break the bullish out of it which we would have actually expected because honestly these would and normally break bullish we came into it from this direction normal you're gonna break the bullish either way bitcoin did break bullish for about three hours and what we saw was it was little shooting star right here that's exactly what that is and you can see over here in this video right here introduction candlestick analysis you can see that candlestick which is a shooting star that is typically the top of a rally and from there of course we had this little blood fall we had this cliff die for Bitcoin where we rallied and where we crashed excuse me all the way down to around 9600 dollars interestingly enough that is where I drug where I drew this trend line yesterday this trend lines from yesterday's video because we saw that there was a support over here and we thought the Bitcoin would probably come down here for a pit stop before we saw any more developments now with all this said Bitcoin is looking a little bit bullish here but this last hour is trading up here around $9,800 it's possible that we rally here for a little while and then come back down but right now we are very bearish the trend is very bearish and every piece of technical analysis is telling us the Bitcoin is going to go lower from here I don't really see any technical indications why Bitcoin should bounce where it is right now the only thing I could really see here that would indicate that this little tiny bounce we've had so far is actually going to develop in anything is a change in the direction of the MACD we're starting to converge bullish instead of diverging bearish that's the only thing I can see here guys there's not really a whole lot of levels of support below us or anything I mean we have some support here on the 400 simple moving average on the for hourly chart but seriously who looks at that moving average the point here is guys bitcoin is in not freefall but it is in a very well-defined downtrend and even if we have a couple hundred dollar bounce here we're probably gonna continue lower so I want you guys to realize just because bitcoin may bounce to maybe ten thousand dollars that's a major level of resistance and if we go there were more than likely going to reject off of it so if Bitcoin bounces something like that is very likely but from there guys I want to talk about why I believe that bitcoin is probably gonna go about another thousand dollars south first of all we talked about this in previous videos Bitcoin is only retraced thirty four thirty five percent from its yearly high so far we could stand to see a forty to even close to forty five percent correction if we needed at most Bitcoin could come all the way down here to seven thousand five hundred dollars I don't think that's going to happen but I'm saying that even if that did happen it wouldn't be the end of the world it wouldn't be the end of the bull market necessarily and we could recover from it there is still room that Bitcoin can crash to and it'd be very easy for Bitcoin to crashed around eight thousand to eight thousand three hundred dollars which is a forty percent correction right now all of our technical indicators are bearish out here on these longer-term charts the for hourly chart we can see that RSI is sitting here on the overbought side of the RSI down here around 20 30 40 which is indicative of a downtrend stochastic RSI is slammed to the floor also indicative of a downtrend the MACD here on for hourly is bearish we got here to the daily chart same thing is true we just started going even more bearish on the MACD you can see here the histogram has changed color over the last two days so casick RSI is pointing bearish so is RSI everything is showing us that we are in a short-term medium-term and long-term downtrend and what I mean by that to clarify is on the hourly chart on the for hourly chart and on the daily chart we are very clearly in a downtrend and there's not really a sign of that changing on any of those timeframes except maybe maybe the hourly over the next couple of days as you can see here guys I did mention that we might see a little bit of a bounce here but if it does happen we're probably gonna go between ten thousand to ten thousand five hundred dollars and reject again it'd be kind of strange if we saw a bounce here at this point in time now one thing I will mention very briefly because I know people are gonna say this in the comments section is that this is not a Head & Shoulders pattern in my opinion but I've heard some people calling this a Head and Shoulders pattern with this line I have down here being the shoulder line I am NOT a fan of that that is one of the ugliest Head & Shoulders patterns I have seen in a very long time I don't think that is going to play out maybe it does I just am NOT putting a lot of a lot of seriousness in that that just does not look right to me so guys I'll tell you why I think is probably gonna happen here Bitcoin may very well have a bounce here all the way up to around ten thousand five hundred dollars or so even up to this downtrend no matter what happens though guys bitcoin is going to need a lot more than that to prove it's bullish before Bitcoin can actually prove it's bullish she needs to get appeared to like eleven thousand five hundred dollars so even if we do bounce up here it'd still be lower high and that does not mean the Bitcoin is out of the downtrend it just means that Bitcoin is having a temporary bullish correction so while this is possible it may not even be probable something like that is more probable I think the Bitcoin is eventually going to break this level of support and move it further down we're going to see lower lows on Bitcoin and bitcoins probably gonna come down here to around $9,000 flat and then we're probably gonna come down somewhere towards this down training level of support that's why I think's gonna happen on Bitcoin I think there's a lot of reason to believe that all of our technical indicators are showing the same thing if we got here to the daily chart when we look at our twenty ma for the longest time the 20 EMA was giving a support during all of this but now guess what happened about a week and a half ago guys Bitcoin was getting support on it boom we fell straight through the floor and Bitcoin is now getting rejected off of it that is a very bearish sign you don't see that happen a whole lot in Bitcoin and cryptocurrency markets but when you do it typically means that you're going into a longer-term prolonged down trim like we saw over here in June and July of 2017 so with all that out of the way guys you have my opinion on this I think bitcoin is going to head lower I think a $9,000 Bitcoin is very much in the cards and I would be very hesitant to start buying Bitcoin right now I personally am going to wait a little bit longer before I continue adding to my position I think there's more bearish news to come and I would like to get more Bitcoin for my money we are getting somewhat close to the bottom though in my opinion I think bitcoins most likely only gonna drop another 10 to 20 percent at the very most if you want to start dollar cost averaging in now that might be its option for you but do be careful about putting your entire portfolio in now on a swing trade or something because especially if you're using leverage you're probably gonna get stopped out because we are gonna see more bearish price action at least in my opinion like I said that bears price action might come tomorrow or the next day it's looking like we're gonna have a little bit of bullish in today's video as you can see Bitcoin is moving to the upside a little bit here we're probably gonna see a little bit of bullishness in today's video but for the next few days I think in general the trend is going to be bearish guys I do want to mention one thing and that is the altcoins you guys know that I've been talking about the altcoins quite a bit lately or at least in several videos I'll talk about them more in the live streams a lot of people are wondering whether or not they should start getting into all coins right now and I'll tell you what I'm doing it a hundred percent of my investing portfolio currently is in all the coins I sold my alt coins a long time ago my money is in Bitcoin my money is on BIC when I do it from I do have a couple of trades in all coins at the moment but at the same time as far as investing is concerned I'm much more interested in Bitcoin we've seen this Bitcoin dominance climb and climb and climb and climb and climb here over the last couple of months and I don't really see that trend slowing down or stopping anytime soon I think that this could continue should bitcoins rally continue if Bitcoin goes into a much longer-term prolonged downtrend and we see some kind of like a bear mini bear market for the next three months or something that could very well happen but for the time being anyway bitcoins dominance is very high these all coins are almost always losing a against Bitcoin on days of Bitcoin is rallying which is more often than not today is definitely an exception we are seeing a lot of these all coins green on their Bitcoin comparatives normally though about 70 to 80 all coins out of the top 100 will be read on their Bitcoin comparatives you want to trade against your Bitcoin not against the US dollar you seek to gain more Bitcoin don't seek to gain more US dollars and you'll probably turn out smelling a lot more like a rose anyway guys let's get on to the strangest news story I think I have read in quite some time you guys need a little bit of context for what's going on here you have probably all heard the name John McAfee before John McAfee is I'm not gonna get too in-depth with this but someone died mysteriously a neighbor of his died mysteriously and John McAfee was blamed for it because he fled the cut he fled Belize to Guatemala a couple days later and he just disappeared which looked rather suspicious so he's been on the run for a little while and the CIA wants him for other things having to do with taxes I'm not gonna get into all of it the point is he's wanted by a lot of different people and he was on a boat recently we actually scroll down here on his Twitter and we can see that he was on a boat whoa well look at this picture here in a second those yes those are what you think there he was on a boat here with his wife and they were traveling and they came into port and interestingly enough when they came into port his boat got to Tampa got boarded and he was detained so let's go ahead and read this this is honestly one of the it if it didn't involve real people it would be one of the funniest stories I've read in a while but I think it's funny because it's real because of if this was just in a movie this would just be another movie plot it's real let's get into it crypto Baron John McAfee has been detained by US authorities according to a bunch of alarming tweets they were posted by his campaign Manning campaign manager Rob benedicto by his campaign made by his campaign manager Rob Benedicto Pacifico Juan de Maria lo yeaa by his campaign man by his campaign manager Rob Benedicto Pacifico Juan Maria lugia or Ramirez according to Cena they will release secret data around the world in retaliation but the exact timeline is currently not clear and I did not misspeak I am quoting when I said secretive data this um we'll call them Rob over here this is Rob i pash this is the person who's filling in for John McAfee while John McAfee is wherever John McAfee is the power of wherever John McAfee is let's go ahead and read some of these tweets here guys there's seven tweets that I need to read to you to get you caught up on what's going on this is Logan that's Rob again I have good reason to suspect that John McAfee and the missus McAfee and the other companions have been detained by authorities at their latest port of call I'll be operating this account providing updates as they become possible I last spoke with John as his boat was being boarded the situation was tense but controlled our conversation was cut short by authorities confiscating their phones they won't even they wouldn't even give him a cigarette if John misses his next check-in events will be set into motion that I cannot prevent once they have begun John has secretive data with individuals across the world I know neither the identities or locations they will release their payloads if John goes missing our campaign for individual freedom and an end to state-sponsored tyranny will continue despite these developments on behalf of the free people of the world I demand the release of John McAfee and his companions from wherever they are being held this will not stand guys we're gonna keep reading the newer tweets but I need to give you guys some context they were on a boat and they were coming to port and the CIA and John McAfee tweeted back here on the 7th on the 19th the CIA has attempted to collect us we are now at sea and we're reporting more soon I will continue to be dark for the next few days he posts as he and his wife here are holding what seemed to be semi automatic shotguns I'm not sure what that is that definitely looks like a 12-gauge but John McAfee does say that I'm presidential candidate with 1.2 million followers that seems a little pompous of you to mention but nevertheless my crime is not filling tax returns not a crime the rest is propaganda by the US government to silence me my voice is the voice of dissent if I'm silenced dissent itself will be next John McAfee I'll be quite honest with you I think he is absolutely hilarious and I like what he does for cryptocurrency but at the same time he's a little bit full of himself I think the CIA agent after him because of the tax thing and because you're accused and we're on trial for murdering someone and then you fled the country which is a little bit that's a little bit suspicious I mean come on whatever side you are on on this that's a little bit suspect am I wrong on that tell me I'm really curious what you think in the comments section down below anyway let's read these last three tweets and then we'll get back to the article so we can continue on thank you all good people for the outpouring of support and offers of help following today's announcement John has many friends in this world some powerful in their own right rest assured all are working to locate John there are also some people that doubt the veracity of today's report that is fair enough and can be forgiven but you will find you are mistaken this is not a publicity stunt hashtag Free McAfee finally to the few haters and authority loving boot licker eating cowards rooting for John's demise what more can be said than f off enjoy it while you can because your time is coming that is terrifying I don't know what he's referencing there I think he's referencing the government tyranny that is coming to take us over and guys I'm no fan of the government either but I do find that kind of interesting I'm not like I said guys I'm not a fan of the government and I am a very libertarian person and I could see very well the government doing certain things that people accuse them of because they've done it in the past I am NOT putting any of that past the Central Intelligence Agency or the rest of the United States government but this is just a very interesting story to me I find it so so interesting let's continue reading on here then we're gonna wrap the video up On June 19th McAfee tweeted that the CIA was going to collect him which it was his last tweet before the blackout his manager also posted a menacing photo of McAfee and his wife of Jenice Dyson both holding semiautomatic shotguns so that did seem to be a shotgun and the other one according to you to you dot today lugia Romero's now claims it he is has good reason to believe that McAfee and Co are currently in US custody he added that they were doing everything in pot everything possible to secure his release guys that's pretty much where we're gonna end the story because I think you've gotten the point John McAfee has been detained by what seems to be the CIA in America who knows if it was actually the CIA it may have just been local authorities John McAfee does like to blow things a little bit out of proportion get a little bit crazy and his life does seem like a James Bond movie sometimes which is why it's so interesting to follow but nevertheless guys that was the news story for today's video I do hope you did enjoy that and like I said guys if you did enjoy today's video and you do want to learn more about how to trade these markets so that you can actually be profitable in these markets guys the cryptocurrency technical analysis Academy is a great place to do it in this course you have over nine hours of content 33 videos covering everything you need to know to be proud in these markets I've had people that have a couple of months of experience all the way up through several years of experience in crypto currency markets go through the course and tell me Jeff I didn't realize this Jeff I didn't know this Jeff this helped me Jeff because of this video I was able to make this trade and this trade made X amount of money and I made all the money back that I invested into the course and a lot more people have that story all the time I've had over 700 people go through ct2 a I've never really had any complaints about it guys the fact that we've had 700 people go through the course and people don't complain this is the Internet the internet is basically the Internet is designed for two things you know what the first is and the second one is for complaining about stuff people don't complain about the course they do give me a lot of praise though if you guys are in CC – I tell them in the comment section down below what you think about it as I've said in previous videos I don't want to I don't want a good review I don't a bad review I want an honest review if you're in the course tell people in the comment section down below what you believe because I am bit very very confident in this course I'm very confident in the material we have I'm very confident in the community we're building and I'm also very confident that if you join us you'll get a lot of value out of it so anyway guys like I said the coupon code is 25k 2019 that is linked in the description down below if you'd like to join us you can do so right down there I look forward to seeing you guys there and I do hope you did enjoy today's video like I said tell me in the comment section down below if you enjoyed today's technical analysis and if you enjoyed our our spy movie of the day John McAfee being detained by the CIA with his shotguns on his boat and is Andy's campaign manager on Twitter this is such an interesting story to me anyway guys like I said that's going to wrap it up I do want to thank each and every single last one of you for watching as always guys and I'll see you guys in the next video peace

Leave a Reply

Your email address will not be published. Required fields are marked *