Bitcoin “Crashing” On Latest FED News! Where I’m Buying Crypto?

 

                      

Bitcoin got squeezed out of the range and cryptos have taken a tumble we've got a ton to get through today along with looking at my predictions for april and some of the silver linings that can come out of this dip so stick around to the end of the articles and like all regular viewers do they hit that like button before they start read the content so thanks very much if you're a notification gang let me know in the comments down below let's dive in we've got some of the major things which look like they are affecting the market one being the fed minutes have been released but first i just want to start with this articles quickly it was on the 5th of april my program right here at the beginning of this articles just talking about what i saw in terms of influences and market sentiment when i keep coming back to the old fear and greed and i specifically said a couple of days ago everyone was getting super excited about bitcoin.

 

potentially getting to 50k i thought there was a possibility of that but of course i'm a trader so i'm always looking at both sides of the market if this doesn't happen then the other must happen that's just the way that a structured trading plan needs to be put in play we don't have to stick with one view if we see the conditions change it's just like going to war you're not going to keep battling something if the conditions have changed otherwise you will basically die so this video here if you want to check it out right at the beginning of the articles just looking at what we saw with the sentiment especially over social media today the market sentiment fear and greed we've hit fear of course you know the market's fallen in bitcoin's case over the last 48 hours about eight percent and for crypto currencies we'll look at that on the chart as well but it was about 12 percent over when we check out the total market caps some people don't like these polls i think there's some good information to come from them especially when you see where the price currently is compared to the market sentiment and asking just a simple yes or no type answer will bitcoin,

 

hit this price or that first some people don't like them but then you get a plethora of other comments which some work out and some don't so below 42k by the weekend and possibly 50k within april we're probably getting the closest to this but this comment also it's exactly true completely irrelevant to long-term investors so if you've got a long-term horizon three five ten years then of course these don't matter and then what i'm going to get to in the news as well we see this so often a big company buying crypto currency everyone expects the moon unfortunately news announcements tend to not work out that way so the squeeze has occurred we looked at this so we'll get to the 50 levels where the market should hold up next if you obviously want to follow twitter stay up to date even quicker check out the link in the description down below all right on to the the big news which seems to have shocked the financial markets the fed officials weigh pruning balance sheet by 95 billion a month.

 

so essentially they're going to take 95 billion off the balance sheet but that's not going to come straight away the federal reserve signaled it will reduce its massive bond holdings at a maximum pace so it doesn't mean it has to do it straight away by 95 billion a month further tightening credit across the economy as central bank raises interest rates to cool the hottest inflation in four decades so this was the minutes of their march meeting and that seems to have shocked the market for now however we were looking at the s p and nasdaq as most of this price range between the lows that have come in in february when russia invaded ukraine and the current highs as essentially being noise now i can still see a lower low if the lower low is to come in anywhere down to about 4 000 points on the s p of course we're talking about crypto but we want to know what's going on in the rest of the market because when this thing sneezes then of course crypto has to crap the bet as well so i've just come under or tested the 50 level closed above initial market shock from the minutes.

 

we were very close to the all-time high about four percent off and now we are approximately seven and a half percent from the all-time high now for a bear market this has to go much lower so the the market has to essentially crash below the support levels at around 4 000 for the s p and for the nasdaq we are in a technical bear market because we've gone lower than 20 percent from the all-time highs uh the nasdaq's fairing worse than the s p but still we've bounced pretty heavily from those march and february lows also note that the nasdaq has come off 11 straight days up or 11 trading days and 15 calendar days straight days up higher highs higher lows eventually it has to be some profit taking and so far we've got a price target of about 14 100 for a support level for something a little more bullish something a bit stronger and if it's to bounce and fall under then we'll look to the weaker side and start to target our next support levels on a more macro scale coming in at about 11 700 points now for the the big news that we've seen over the last couple of days for bitcoin terra foundation adds another 230 million dollar million dollars to bitcoin uh to its reserves to back its stablecoin so overall there is about 1.6 billion.

 

 

 

now held with the terror foundation terraform terraform labs founder and chief executive doe quan said on Wednesday purchased 230 million so we've seen that doklam's got another 230 micro strategies another 190. going over to my tweet here in the last 48 hours crypto's witnessed a ton of buying almost half a billion dollars at least that has been announced because we know the buying didn't happen on those announcement days not necessarily had to happen on those announcement days but over the span of weeks or potentially months in the case of sailor was about six weeks uh and then obviously we have the biggest bitcoin event on in the world again it just for me leans towards the whole buy the rumor sell the news so we had all of this news announcement leading up and the news is announced and so what does the market do well it's dropped 8.6 over the last 48 hours what does that look like on our chart well we've come back to the next support level of 42 900 and if we want to take this back to the february lows the next support if we were to fall 41 300 dollars so we still have a little bit left in the tank in case this thing does fall further in my april video bitcoin price prediction for april we were looking at a possibility of this market getting to about fifty one thousand dollars so we're still holding up okay.

 

this was always going to be a choppy path to get there there was more strength a few days ago as we tried to bounce off the 44 and a half thousand dollar level you can see on the first of april we had that little bounce and then the market basically turned south again with lower highs and uh breaking out some of the support here at 44. but we still have some support left in a micro bullish structure and that's what i said earlier i'm just looking for around that 41 to 42 000 area but I think from this point it's going to take a little bit longer to get to that 51 because we've broken underneath the support levels again so the old support was back here at about forty five thousand dollars and being under that it's obviously going to take more time to come back and test that again for us to get to that 50k however that's short term just short term we're just looking in april the longer term the video that i put out a couple of months ago looking at the bitcoin four year cycle still showed that i was looking for a low to come in at the earliest late quarter two and then later on it could be quarter three quarter four maybe early quarter one but i think it's going to probably be more around that quarter three to quarter four where for bitcoin.

 

we'll potentially see another low get put in and we're looking to see whether it's going to be a higher low or a lower low and take out the old 28k low so for the macro investing side of bitcoin the old buy and hold or buy and sell in several months to several years time are still expecting a lower low because that's what the cycle is telling us we still have some more time for this market to consolidate and then build another base before it can take off this was still too early in my opinion for a new all-time high and if it was to get to a new all-time high it probably wouldn't be that much higher and it would still be quite weak even if it got to 70 80 90 000 from this point it would be pretty short-lived and probably come back into the zone again and have to rest and start to consolidate again but that's getting too far ahead of myself at this point i am still looking for that next low wherever that comes in higher low or lower low i'd just love to see it form a more solid base before we take off for that next run i'll leave a link at the end of this video for that four year cycle video so you can watch it in more detail to see how i got to that.

 

estimation of later in 2022 for a low and why i wasn't getting so excited about loading up on altcoins for longer term investing for short-term trading sure definitely there was cause to be excited through this period for short-term trading and we saw it over the course of two to three weeks max for any of these cryptos to to get those gains because after that we saw the charts turned down so there was the timing in the market was about that two maybe three weeks in some case to get into those altcoins which we can see on total market cap another chart that we checked just to let us know what's going on in the overall market we could see the base forming back in january and February then the market bounced from that point now i wasn't convinced as i said earlier that this was going to take off to new all-time highs but sure we got one two three weeks of an altcoin season generally speaking remember this is the overall market cap if this market falls back into this zone i'd say we're going to need far more time and it's looking much more bearish if we're to close underneath all of these current closers that are holding out at approximately 1.6 to 1.7 billion dollars now when i looked at this the other day we were way up getting very close to that 50 percent rejection and we're about five percent off it so that's where we're looking for a possible.

 

turn in the altcoin season that came earlier than expected obviously all coins are now down five or ten percent it could still bounce back from here because it's not over yet we look at our support levels fifty percent we still haven't broken through that at one point nine trillion dollars so we could still get some hold up here before the market tries to push higher again now for the total market cap excluding bitcoin and ethereum so this is a a better look at all of the alt coins for alt season you can see we were nearly two or just short of two percent off the the 50 level which was where i was expecting some sort of reaction so two percent off that hundred and eight hundred and sixty billion dollar level before we saw a correction again this correction's looking all right we're on top of previous resistance and it's at 50 percent so that's 733 billion i would get a little more concerned if we hung around these levels and started to break down below the 700 billion because that just brings us back into the previous zone that the market was consolidating in before it took off to higher so if it breaks back down into this level that means that this is off and again we go through the churn and wait for the next opportunity for the breakouts on a weekly chart we could see that that lasted one two three weeks before we got a correction that's specifically.

 

what we were looking at on ethereum two the ethers btc chart to give us an idea about how long an alt season might last in terms of what we've seen in the past so this is ethereum usd we also got one two three weeks up rejected at 50 percent for now and then our first week where we have a lower high and lower low at the moment we still have four days to go until the week is the weekly close comes in the 50 is at 3 000 so we're still above that and we're still above the previous levels here broken the downtrend so at the moment this could be the silver lining before the market looks to consolidate again for the next move up if the market breaks under these levels comes back to this sort of zone around 24 to 2600 then this is not looking as good because we've just revisited the level where the market consolidated last time before it took off now i mean it doesn't look as good because you always want to see higher lows being put in to start the stair stepping back out so if it comes all the way back it's not too far off the lows before it breaks down and gives you that lower low so the silver lining is in watching these lows silver lining here watch the major lows we can see january we can see february and then we can see march this is on a macro view.

So we can get an understanding of how much time we may have left in an altcoin season and you can see the january low was in the february low was higher and then the march low was higher again so i'm just going to use a cryptocurrency here pyr you can see we had january low we had february low and then the march low was just a couple of cents higher than the february low as well before it took off so it had a good run but i still wasn't expecting this to take off to new all-time highs and for now coming back to the 50 so still looking okay i dare say we'd fall even lower to 20 to 10 or maybe under 10 it doesn't really matter at this point but the the positive that matters here is we continue to see some higher lows but at least at very worst it holds in a trading range between that january low which is set at approximately.

 

six dollars and then six to seven dollars and then it holds at those highs as well around that the levels that just came in at 19 or down to about 16 and this is what I want to see across the board for any cryptocurrency they'll look to start accumulating in this next stage of 2022 and potentially this correction this is the exciting time this is in my view of course the exciting time the consolidation time waiting to see where this next low comes in this was for me as i pointed out on the channel and regular viewers that would know this this is the time that i wasn't so excited and i know i was getting called out for some hate of not getting on board this soon enough but i always saw this as an altcoin trading season not as an altcoin buy up and hold forever season because i think we'll get another opportunity as the cycles have shown for bitcoin coming in later in 2022 wherever that may be maybe it's quarter three maybe it's quarter four doesn't matter I have the patience and i've got that road map in place to give me an idea of course i can always be wrong but i'm sticking to my guns on this we've seen it here is the correction markets tend to move in those waves and they often give you that next opportunity now like i said i could be wrong i could miss it.