Hello guys and welcome to the moon, my name is carl and I’m going to bring you this cryptocurrency video. We are going to take a look at the bitcoin price right now. Everyone wants to know where we are headed. So, let’s just take a look at the obvious: first, we have a falling wedge just like we had a falling wedge right. There we broke down below this green box.
We also had this head and shoulders that i talked about um a couple of weeks ago. Let me show you real quick, so we have like this right. Let me make that line another color. Let’s make it a yellow like that, and that’s what we can see, I’m just going to turn off the sound of my beautiful phone. So the question is, of course, are we going to continue to go down here um?
I am going to show you the target out of the head and shoulders just because I’m a technical analyst, it would make sense if I did some technical analysis on this target. So basically, this head and shoulders has a target of approximately 20 000. Now everyone will be wondering: are we going to go all the way down to 20 000
First of all, we have to understand that it is possible. Of course, anything is possible. Is it probable?
In my opinion, i don’t think it’s very probable. What’s more probable is that we may actually come down to retest 30 000. Maybe we get a small bounce before here, we’re gonna go up to 38k and then we go down, but eventually, i think maybe we’re going down to 30k retesting that – and hopefully we get a big bounce after that. This is definitely a possible scenario. Let’S bring out the daily ema ribbon, uh like this, and then we can see that bitcoin is clearly below the ribbon.
Of course, as you can see, and as long as we blow the ribbon, we have big resistance above us, let’s go to the weekly and i’m gon na have to tell you guys that the weekly is looking not so good anymore. We have been looking at the weekly saying that we’re above here we’re above the support but yeah right now we’re below support. We got a confirmed candid candle, close below the weekly ema ribbon and right now we have a huge red candle. We have 24 hours right now. Tomorrow is monday.
We have 24 hours for bitcoin to pump back 20 above 41k. If we see that miracle happen, then we’re all fine, but actually i would say that the likelihood of that happening is not very high at all and if you look at the the the the sheer amount of drop we’ve seen here here, i have to tell you Guys that, obviously i’m in the same boat, like all of you, i also lost a bunch of money here on paper. Obviously, it’s not realized losses because i don’t sell my bitcoin ethereum or cast or whatever i don’t sell down here. That’S for sure – and i mean if you feel bad for for losing – i don’t know 20 30k here in the past 24 hours i’ll tell you that it’s possible that i lost something like i don’t know – 100 million here so um. I would say this guys: it’s not a loss unless you realize the loss.
Am i gon na sell here and realize a hundred million dollar loss? No, i am holding my bitcoin, i’m holding my ethereum, i’m holding basically all of my crypto uh, the only big purchase. I did here was uh my bugatti remember right here at oh wait. This is bitcoin uh, let’s go here. This is ethereum because i bought my my car with ethereum and ethereum was approximately four thousand dollars and then with the ethereum price tanked.
So that’s the only theorem i used for any kind of purchase, but but yeah, that’s that’s! That’S that i’ve. Definitely i’m down a a significant amount of money, but all of us are. We are all in the same boat when it comes to to these swings. Remember also back here, a huge correction.
I lost a bunch of money there as well, but i didn’t sell and we went all the way up here – we’re down right now as well. I’M not selling we’re gon na go back up very very soon. I think so makes no sense for me to start selling here, but many people are asking why we’re correcting. Yesterday i talked about russia and sec, but also of course, if you look at the equity markets, you will see that basically, the whole stock market crashed and i think, bitcoin crashed because of the stock market. It seems like that’s probably the most likely um scenario and just look at jeff bezos.
He probably lost billions yesterday, so my 100 million losses, nothing compared to jeff, bezos and elon musk, and all these people like, if just one percent, dropping their stock and they make or they lose billions. I think so is this a bear market now? Well, actually, yes, on the weekly and daily, we now have a bear market technically, in my opinion, um. So what am i going to do? Well, i have made over 350 investments in different crypto startups recently and obviously in a bear market.
My investments are not going to perform very well, but if we see a bull market in the next six months, then they’re gon na perform very well. I am still going to keep investing in crypto because, like i said before, this is a long-term thing. It’S not like, i don’t have a one month or six month mindset. I have a four year five year mindset in even 20 years, look at amazon, google, microsoft. It doesn’t matter what you make in the next one year over the next 20 30 years.
People made crazy money by investing in in those internet companies, so yeah, i’m not worried at all when it comes to that make sure to go down below this video and click my buy bit link if you want to get a 4 000 sign up bonus. Just click the link sign up takes 20 seconds, and then you can start trading, and this is only for experienced traders, and you also have my buy bits tutorial right there. If you want to learn even more about the buy bit exchange and don’t forget to subscribe guys and leave a thumbs up down below, thank you for watching. May the gains be with you by the dip hold for the long term and make sure to click. This video right there right now and i will see you guys over there – bye