BITCOIN CRASHED... this is why — Transcript

Full transcript

1. 0:00Bitcoin took a major dump towards the
2. 0:02downside and now is even trading below
3. 0:05$70,000 US as we have seen a major
4. 0:08correction towards the downside. And you
5. 0:10know what the craziest part is? There is
6. 0:13almost no liquidity laying anymore below
7. 0:16us. And if we're looking at the
8. 0:17liquidation heat map, there's maybe 6 or
9. 0:19700 million in liquidations from Bitcoin
10. 0:23long positions laying all the way down
11. 0:24to 60K. But above it, there is more than
12. 0:28$14 billion in Bitcoin short
13. 0:31liquidations laying all the way up to
14. 0:33$83,000. So in today's update video, I'm
15. 0:36going to be exactly talking about this
16. 0:38correction in the market, how open
17. 0:40interest was basically not corrected
18. 0:42whatsoever, how of course the fear and
19. 0:44greed is currently looking, the 200
20. 0:47weekly moving average, the biggest
21. 0:49levels of support I'm currently going to
22. 0:50be looking at for Bitcoin next year, and
23. 0:52of course what I'm going to be doing
24. 0:54next year with my trades. Will this
25. 0:55trade be roundtripped or is it going to
26. 0:58still find some support anytime soon?
27. 1:00And am I still going to be making a big
28. 1:02profit? And is this more importantly
29. 1:05still the Bitcoin bare market bottom?
30. 1:07That is going to be the question I'm
31. 1:08going to be trying to answer on today's
32. 1:10update video. Don't forget to straight
33. 1:11away slump that like button back above
34. 1:13800 likes will be highly appreciated.
35. 1:16And let me jump straight away into
36. 1:17today's update video. So last night,
37. 1:20Bitcoin fell below $70,000 US and over
38. 1:24$700 million in Bitcoin long
39. 1:27liquidations again got liquidated. And
40. 1:31this is actually quite interesting to be
41. 1:33seeing because if I'm looking at the
42. 1:34daily time frame, we can definitely see
43. 1:36that this liquidation event is by far
44. 1:39not the biggest. It is the third largest
45. 1:41we have seen in the last year with of
46. 1:43course on number one the 10 correction
47. 1:45in the market. But what is the craziest
48. 1:48part basically what we have seen in the
49. 1:50market right here is that actually
50. 1:52historically whenever you do see these
51. 1:53big correction phases in the market open
52. 1:56interest tends to be dropping quite
53. 1:57aggressively. For example here it
54. 1:59dropped about 15%. But now we have not
55. 2:02really seen a big squeeze in open
56. 2:04interest yet which means that there
57. 2:06still are a lot of leverage open up in
58. 2:10the market and and obviously since
59. 2:12Bitcoin has been continue to be going
60. 2:14down here the leverage is probably very
61. 2:16imbalanced and that is why of course the
62. 2:18open interest continues to be building
63. 2:19up but it also makes up for a very
64. 2:21interesting story since the liquidation
65. 2:24heat map literally showed me that it
66. 2:26grabbed all the lower side liquidity
67. 2:28right now and if you're for example
68. 2:30looking at the Bitcoin exchange
69. 2:31liquidation heat map, you can see that
70. 2:33there's maybe about5 to $600 million in
71. 2:36Bitcoin long liquidations laying all the
72. 2:38way down to 60K, but there's more than
73. 2:40$14 billion in Bitcoin short
74. 2:42liquidations laying all the way up to
75. 2:45about $83,000 US, which is obviously
76. 2:48quite insane if you would ask me here.
77. 2:50Then, if I'm going to be speaking about
78. 2:53where I mean the support should be
79. 2:55hitting in here, for sure it's going to
80. 2:57be the 200 weekly moving average. Of
81. 3:00course, I was speaking about the fact
82. 3:01that Bitcoin was creating this weekly
83. 3:03fair value gap. Historically, if you're
84. 3:05following the books, this is definitely
85. 3:06a level where I mean, Bitcoin at least
86. 3:08finds some support at, but this time
87. 3:10around, we just straight away broke
88. 3:12through it and now are actually trading
89. 3:14below it. So, the next support I am
90. 3:16looking at is obviously this major order
91. 3:18block on Bitcoin. But like I said in
92. 3:20multiple videos before, in my opinion,
93. 3:23if Bitcoin is going to come back towards
94. 3:25this level, this order block, I think
95. 3:27it's going to be making the case that
96. 3:29Bitcoin is going to be looking quite
97. 3:31even more weak and it's probably going
98. 3:32to be forming potentially a new low,
99. 3:34then that scenario will be opened up
100. 3:36again for me. But only if we are going
101. 3:38to be retesting this order block over
102. 3:40here on Bitcoin. So if we're for example
103. 3:44going to be holding up towards the 200
104. 3:46weekly moving average, we're going to be
105. 3:47creating somewhat of an inverse head and
106. 3:49shoulders pattern on the weekly time
107. 3:50frame. I think it's going to be looking
108. 3:52good for Bitcoin. But if we come down a
109. 3:54little bit lower, test this order block,
110. 3:56I think there's just too much too much
111. 3:59people that are going to be opening up
112. 4:00longs there. It is going to be looking
113. 4:02just quite bad here in my opinion. And
114. 4:05then it is going to be just very likely
115. 4:06that Bitcoin is going to continue to be
116. 4:08going down a little bit longer. So that
117. 4:11is exactly what I'm looking at. But in
118. 4:13terms of where I'm expecting if we're
119. 4:15going to be down going down to find at
120. 4:17least some support, it is definitely
121. 4:19this region where we're currently
122. 4:20sitting at already. That is exactly the
123. 4:22high of the order block. But in the
124. 4:24middle of the order block sitting around
125. 4:2563 to $64,000.
126. 4:28This is clearly where the majority of
127. 4:30the volume has been traded in this
128. 4:31region. And this is also exactly where
129. 4:34most likely the biggest support for
130. 4:35Bitcoin will be found. uh whenever I say
131. 4:37that yes if we come there I think we're
132. 4:39going to be probably go lower it doesn't
133. 4:41mean that we cannot have a bounce and uh
134. 4:43for me if we were to come here this is
135. 4:45of course one of the biggest levels
136. 4:47where I'm expecting a major bounce could
137. 4:49be happening from from Bitcoin and yeah
138. 4:52if I'm looking at the liquidation heat
139. 4:54map you can see we grabbed all the lower
140. 4:55side liquidity there's still a lot
141. 4:57laying above us but yeah this to be
142. 4:59grabbed here is just super unlikely to
143. 5:01be happening on the if I'm at least
144. 5:02looking at the Bitcoin will order chart
145. 5:05there's not a lot of leverage In terms
146. 5:06of burps that are going to be getting
147. 5:08opened, laying below us, most of the
148. 5:10orders that are laying below us that are
149. 5:12very big, at least above $20 million,
150. 5:15they are all major spot orders. And you
151. 5:17can see $67,000,
152. 5:1967.2K,
153. 5:21those are currently the biggest orders
154. 5:23for Bitcoin that are set up here with
155. 5:25more than 40 to $50 million in buy order
156. 5:28setup exactly around that level. If we
157. 5:30were to come to $67,000 US, it is for
158. 5:33sure going to be providing at least some
159. 5:34support for Bitcoin. And again, if I'm
160. 5:37looking back at the 2023 correction
161. 5:40compared to the 2026 correction we're
162. 5:42currently seeing after the bare market
163. 5:43low, it actually looks all more than
164. 5:46similar to each other. I mean, this one
165. 5:47is definitely a little bit more
166. 5:49aggressive. Last time it didn't came
167. 5:51down so deep. It didn't retested the
168. 5:53order block completely. Right now as
169. 5:54well, we have not seen that yet, but
170. 5:56indeed, it is looking very similar. And
171. 5:59it also ended over there with a very
172. 6:01aggressive dump towards the downside. So
173. 6:03let's see what is going to be playing
174. 6:04out obviously. But for me again I would
175. 6:07see these opportunities these times that
176. 6:09Bitcoin moves towards the downside
177. 6:10always as great opportunities to just
178. 6:12add to the DCA portfolio because for me
179. 6:15in the end of the day yes I have my
180. 6:17trade open. I would love to see Bitcoin
181. 6:20send it up to like what is it like? I
182. 6:24would love to see Bitcoin go up to 200K
183. 6:26in one go, but it is also not realistic.
184. 6:28And for me, in the end of the day, if
185. 6:30Bitcoin is going to come down a little
186. 6:31bit deeper, it is only going to give me
187. 6:33a bigger opportunity to build up a
188. 6:36bigger trade because the only thing that
189. 6:39I was disappointed in with this exact
190. 6:41trade is that I was not entered enough
191. 6:44what I really wanted because I wanted to
192. 6:46open up like two or three million in
193. 6:48margin. And if it now comes down here
194. 6:50maybe to $54,000, $51,000,
195. 6:55for sure I'm going to be still adding
196. 6:56this margin because I would still see
197. 6:58this as the same big opportunity in
198. 7:00Bitcoin. But the question really is, are
199. 7:02we going to be creating [clears throat]
200. 7:04this inverse head and shoulders pattern
201. 7:06and are we going to be remaining to hold
202. 7:09an higher low structure on Bitcoin? This
203. 7:11is going to be very important and this
204. 7:13is going to be marking the structure for
205. 7:15probably the next few months here
206. 7:18because yes, if Bitcoin does bounce back
207. 7:20towards the upside, it is going to start
208. 7:22to look very good because we're going to
209. 7:23create an inverse head and shoulders
210. 7:25pattern and then everyone is probably
211. 7:27going to be super bullish again here.
212. 7:28So, we just have to wait and see how it
213. 7:30unfolds. For me, the strategy remains to
214. 7:32be the same with my trade. I'm not going
215. 7:34to be getting kicked out of the trade
216. 7:36unless Bitcoin breaks below $62,000.
217. 7:39Then I'm going to be locking in at least
218. 7:41$180,000 in profit, but also I need to
219. 7:44lock in some profits since yeah, I am
220. 7:46paying also a lot of fees to be in this
221. 7:48trade because yeah, you have you have to
222. 7:50pay funding fees to be in a long trade
223. 7:51and I've been in this long trade already
224. 7:53for quite a significant time here. So
225. 7:56this is this is exactly my strategy and
226. 7:58I'm not going to be changing it. And
227. 7:59also, by the way, if you're looking for
228. 8:01a place to swing trade, to trade in
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242. 8:30make sure to check it out in the first
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244. 8:34Especially if you're going to be opening
245. 8:36up big trades, it is super valuable to
246. 8:38get this fee rebate up on registration
247. 8:40using the first link in today's video
248. 8:42description. Then again, I do see a lot
249. 8:44of similarities with this exact Bitcoin
250. 8:47bare market bottom from 2023 and the one
251. 8:51we're currently creating as well.
252. 8:52Because in the end, if you're going to
253. 8:54compare these structures also over here,
254. 8:57it was just one gigantic inverse head
255. 8:59and shoulders pattern on Bitcoin. This
256. 9:01was the Bitcoin bare market bottom. I
257. 9:03mean, we could be creating again
258. 9:05something very similar. And then in
259. 9:07hindsight, it's going to be looking very
260. 9:09obvious. But again, what are we doing
261. 9:11right now? This is actually something
262. 9:13very similar. Left cup and then the head
263. 9:16and then the right shoulder. I said cup,
264. 9:18but I mean shoulder obviously. But yeah,
265. 9:20this is actually super similar compared
266. 9:22to the 2023 bottom. Only this time
267. 9:25around, it is taking a little bit longer
268. 9:27compared to the 2023 bottom. But of
269. 9:30course, every single bare market is also
270. 9:32different. But in my opinion, again, as
271. 9:34long as we're not going to be forming a
272. 9:36new low, I think we're going to be
273. 9:38looking very good. If we create a new
274. 9:40low, we're going to go much deeper. That
275. 9:42is personally my thesis on Bitcoin. That
276. 9:44is my way how I'm going to be
277. 9:46approaching it. This is the way how are
278. 9:47I going to be prepared for the next few
279. 9:49moves in the market. So if you did enjoy
280. 9:52this video, learn something from this
281. 9:54video, don't forget to subscribe to the
282. 9:55channel. Would be highly appreciated.
283. 9:57And see you guys on the next one. Peace
284. 9:58out. Goodbye.