ECONOMIC COLLAPSE??? BITCOIN LITECOIN and ETHEREUM UPDATE! price prediction, analysis, news, trading
what's up guys crypto savvy here I hope everyone's having a wonderful day we're gonna take a look at Bitcoin litecoin aetherium and we're gonna take a look at the Dow Jones with the current economic situation going on we're gonna talk about that a little bit talk about my confidence in it where I think it might be headed I know a lot of people are talking about this great recovery and it's just gonna recover from here I don't believe that's the case stick around we'll talk about it and don't forget we have a free discord group in the description below
the video and let's get into it all right guys as always I wanna remind you this is not financial advice trading advice or investment advice this is my opinion in my view only not yours so definitely read the disclaimer scroll down to bottom in let's get into the video so looking at the news headlines and get a feel for the sentiment these three factors show Bitcoin has further to fall after hitting the new lows network of fake Bitcoin app that one doesn't really apply convicting X weeks yep skeptical analysts throws light on the situation Bitcoin will move if US creates a digital dollar investors regain confidence in Bitcoin a mid-price Bitcoin price decline prompts us mining firm to shut down institutions seem strangely absent during recent Bitcoin so it is seeming more bearish in the news which is usually bullish for the price action but we'll talk about that fear and greed index we are on and this is gonna be a quick video guys I'm gonna try to make it as quick as possible I know it's Sunday people are you know it's Sunday I try not to take too much your time up but fear and greed index we are at 12 we are up four points from yesterday still in the extreme fear although the extreme fear is orange instead of red let's look at Bitcoin so looking at the monthly still a same deal here that monthly candle actually looks kind of bullish but overall I don't think it looks very bullish in the big picture right now the 55 EMA is lying around thus 47:30 range in the monthly let's look at the Oh far I begin this my wife's web page Inc your image calm there is a link to it down below in the description check it out which she's got a lot of cool stuff in there you could put anything on any of this stuff you want it doesn't have to be just what you see it could be family pictures or whatever it is quality stuff so check it out it's a great way to help support the channel there's also some stuff that's not listed you just hit her up in the contact like long sleeve tees hoodies socks keychains all kinds of different stuff but makes awesome gift something the somewhere to shop for different stuff let's look at the weekly alright so Bitcoin on the weekly as you guys know I have this low down here as a possibility not saying it's going there guys calm down but 2574 would be the retest of this trend lying down at the very bottom which I do think is a possibility today's clothes is gonna mean a lot because if we close down in this area and don't get a run up most likely our 21 EMA is gonna cross our 55 EMA right here so that's gonna be pretty damn embarrassing as in my opinion we do still have the 200 EMA down here around the 5350 range and we'll look at that also in the daily but before we do I'm gonna look at the RSI we've been talking about this red support resistance line for months now and back in 2014 we capitulated below it broke back above it 15 tested her for support got support and had our bull run all the way up to 2017 2018 capitulated below it broke back above in nineteen retested for support got support now we are below it as you can see if we close below this guys I think it's pretty bearish I think we're gonna be seeing the lower lows but let's take a look at the more immediate price action and see what's going on you guys been watching my videos we have been expecting all these moves and if you are new here definitely subscribe to the channel I do daily updates every little day make sure you take the notification well to get you notified when I post new videos I also do live streams when I can mmm for some reason for some reason my videos are taking longer to upload and when I tried a live stream it's like the Internet's not working right so I've been trying to livestream I may try again tonight hopefully it'll work but let's look at where we're at we were looking at this rising ledge here which we broke out of the measured move of that break is by measuring just the wedge the widest point of the wedge here to where we broke down is around the $4,200 range let me see yeah right right in that area forty to forty one fifty somewhere in this area we'll keep up on it but that would also line up with this long-term trend line here so it is a possibility but keep in mind looking at this as a flagpole and this being a Bear Flag this could be the measured move also right around that 25 50 25 70 range which we were looking at in the weekly it all lines up pretty well that it is a possibility guys like I said not saying it's gonna happen make sure you subscribe we will keep up on this and continue to figure out where we're headed we did break through our 64 support which also broke us down out of this wedge there is a possibility we could still have a run up before our drop although I think it's less likely but if we're able to break above 64 and close a for our above that then we could possibly rally back up but the next support I see down here is around the 5400 range which is the point two three six FIB retracement so that is what I'm looking at let's look at this real quick I'm gonna throw a fit on here from this swing low to this swing high yeah that lines up at the 0.5 fib 2 so that would be some good confluence that we would probably get a bounce here would also line up with this trendline here which we've broke back inside but ultimately if that 53 doesn't hold or 54 doesn't hold I'd be looking for the 42 and if that doesn't hold obviously 25 70 let's look at well let's look at the EMAs here to the MAS are turning looking pretty bearish in the daily let's look at our RSI and we've been talking about this for a while if I move this over I've drove this in there quite some time way back in here that we could be looking at embers head and shoulders here so it is starting to look like it's playing out this shoulder could go even lower could turn here but it is working out that the bottom of that shoulder might be this $5,400 range we will keep an eye on that and if that's the case we might get another run up to 7,200 possibly even to $8,000 area but let's take a look at the 4-hour like I said well the 4-hour EMA's are super bearish our 21 EMA has crossed our 55 that's pretty ugly guys although there's not too awfully far to go on the RSI but people think that when it gets oversold it's time to bot that's not the case the RSI can rise while the price just remains and then do another drop so keep that in mind learn your bearish and bullish divergence and your hidden and regular divergence I'm sorry my phone's going off like crazy but anyways yeah that's I'm looking for this 54 area guys mm at least if that doesn't hold then the $4,200 range is what I'm looking at in the 4 hour it does look like if we looked at the RSI most likely if we get down to this 5400 area we'd probably do some sideways movement let the RSI reset and then continue the drop if we are going to drop below that 54 litecoins same type deal guys let's look at the RSI real quick as you guys know we were watching this rising channel which we have fallen out of bearish now if we were to get a run-up and retest the bottom of this wedge that we broke out of we could see this 4126 area but first off we would have to break above the 30 $9.00 range and close a for our above it if that happens we could be looking at 41 but I still see us continuing down from here and let's take a look at the measured move of this wedge gets us all the way down to around the 22 right around the 22 to 23 dollar range these targets aren't exact guys they just give us an idea bitcoins been pretty boring here so I do believe there is most likely a move coming if we look at the let's zoom in a little bit so you look at the volume look at the volume here it is the guy into almost nothing there is a huge move coming in my opinion and like I said I am bearish although we've seen Bitcoin do weirder things if we break back above this if we do break above the 4143 we could be looking at least the 47 dollar range possibly 54 but guys I just don't see it but I could be wrong looking at this as a flagpole this being a giant Bear Flag that would get us down to 14 33 but again until we break this low here which is around 30 660 if we break that low that I'd be looking for the 29 39 which is retesting this old trendline right here the orange one I do it I would expect a bounce there but if we do break below there I believe we could be coming down to the 22 86 which if we look over a Bitcoin would match up with the 25 actually and that would be like a huge stop hunt from the people that are long and have their stops under here and like I said not guaranteed but that would make sense to me same thing in litecoin the 29 or even 14 would be a huge stop point it would get two stops that are below here for anyone that long there let's look at aetherium and look at our measured moves there so aetherium same thing EMA is looking bearish we are getting resistance from all the EMAs here the ADM a especially let's look at the RSI same thing we've been watch guys don't forget to hit the like button and leave your comments down below I just dawn to me I almost forgot to say oh and you're for your interest in trading I will leave a bye bit tutorial up top definitely check it out I do use by bit and prime X BT prime X BT and they they all have if you use my links down below you can get some free Bitcoin by signing up using my links so check it out just don't be crazy don't put any more you're willing to lose and trading is not for everybody but how do you know unless you try I hate when people tell people not to trade when there's successful traders out there but anyways yeah we broke out of this rising channel which was bearish if we can break back above these EMA's here which i don't see happening we couldn't come up retest this one more time but it looks like we already had a retest of this wedge here so yeah I'm bearish like I said let's take a measured move from this wedge at the widest point to where we broke down that would get us around the 72 48 which also again lines up at this long-term trend line here we do have another long-term trend line to yellow and off these two bottom weeks here and that would line up with measuring this as a flagpole this is a Bear Flag down to the 27 to 28 dollar range but yeah guys I'm still bearish overall here I mean in the smaller timeframes we could get some bouncing around up and down here but you know within the next week or so I would say we most likely and I do updates every day so if it changes if we break the 137 and close a four hour above it that's gonna change my my assumption for what's going on but as of right now I am still bearish in Bitcoin like when in aetherium let's take a look at the Dow real quick you guys been watching my videos we have been watching the Dow closely does look like we're in a falling broadening wedge here in the RSI which we could get one more push up but guys no matter what I think we are headed down to at least the 16 8 even if I mean we could run up as high in the Dow and I think all this is a sucker's rally they're gonna take some more your money they're gonna talk about it on the news tell you the markets are making a comeback guys the markets are not making a comeback I don't see this coming back anytime soon possibly a year long you're most likely longer but if we did come up we're gonna have major resistance at 223 for right in that area 2035 honestly don't think we get above that that was a huge support that we broke down from and that is where we get our measured move to the 16-8 right in that area 16 869 if that doesn't hold the next measured move would be looking at this as a megaphone and we have already broken it we're back up in it but once it's broken I believe it's gonna continue if this 16 8 to 16 I know hold on guys we're looking at 91 62 somewhere in that range but again if we zoom in here and this is the daily chart like I said this is a falling broadening wedge if we are able to pop up pass this on Monday even Tuesday you know I see us we could possibly go as high as the golden pocket zone here around the 25,000 to 25500 I don't think that's gonna happen but it could either way we could go as high as the 0.786 retracement here at about 27 - but no matter what guys I don't think we're gonna see a new time alter new all-time high anytime soon in traditional markets guys with everything going on they can say anything they want no matter what they say be careful because this is not gonna just pop back and everybody everything go back to normal it's it's not gonna happen guys don't get sucked into that period I don't know hope you guys enjoyed the video light of going on it's crazy world we live in right now I hope everyone's safe and doing good but don't forget to click crypto savvy logo above my head to get you subscribe to the channel take the notification bell to get you notified my posting video smash those likes leave your comments down below let me know what you think do you think traditional mark they're gonna recover do you think they're gonna continue crashing do you think bitcoins gonna follow do you think bitcoin is gonna pull off on its own let me know what you guys think in the comments below thanks a lot
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