Bitcoin Crash - Is now the time to buy?

Bitcoin Crash - Is now the time to buy?

Cryptocurrency Markets Right Now Cryptocurrency Is Totally Disastrous for Bitcoin At the moment it has collapsed 34 in the past several days and has also collapsed almost 30 in the past several days In this video I will explain to you exactly why and when you should buy a dip You are welcome Again in the channel everyone my name is Artie and this is the moving average we discuss every trading day to keep your profit on a consistent basis so most of you already know my background is 100 cryptocurrencies what led me to day trading I get asked constantly is now a good time to buy is now A good time to buy It is a good time to buy non-stop in my dm and for those of you who are wondering why the cryptocurrency is down now I will post some articles below but basically Elon Musk said on his twitter that he no longer accepts bitcoin as a payment method, and will not sell bitcoins its own but the amount of energy expended while mining bitcoin is really out of control so he said it's bad for the environment and thus it crashes In addition to the vitality of two puterin, the creator of ethereum was moving a great deal of ethereum trying to you Spell money from the new ethereum 2.0 coming out soon so there are a lot of reasons why this chain move has gone down but I promise it will basically decline and come back again if you are concerned about this crash and you are wondering if you should go out or buy more then I will tell you Exactly what you want you should do now ok jumping to the charts we are looking at bitcoin in us dollar right now on the daily time frame as you can see since october 18 when we really started going up the price has gone up more than 500 percent and now as you can see the whole world is panicking and it Rolling down the same thing is happening with ethereum now you can see it's less of a waterfall than bitcoin but still a massive rejection for over 30 now i need you to just stop and don't panic cause a lot of people lose a lot of money in crypto because they saw something like this and then sell And the price bounces right away which is called a cash grab just so you understand that the price is going up it loses a little bit of momentum and starts to go down, it feels like the price is actually taking a breather to regain its energy to continue that momentum bullish trend, you can see that there was a cash grab here here and here now if you are wondering what these three lines are and you are new to my channel and the new to technical analysis and these are the so-called moving averages these are the 21 period moving average 50 period moving average and the period moving average 200 basically taking an average price for a certain period of time meaning that this is the average price in a period of 21

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Now, even if you are a new trader, you always hear the term buy dip, every one of these dips is a potentially long opportunity for your investment to grow fast But how do you know when this drop will be on I'm gonna show you a tool called the Fibonacci tool if you don't know what Fibonacci is make sure to google it and research because it's very lethal when using it in cryptocurrencies now I'm going to put this on a chart a few times just to show you what I'm talking about we started at the beginning of this straight trajectory, this whole movement was one strong move, so we just dropped our Fibonacci tool right here from the bottom up and take back the 50 level again, we had another momentum movement Here from the bottom to the top and we pulled back at the 50 level again, we had another momentum movement from the bottom to the top and this one actually went past the 764 level every one of these Fibonacci levels was a good indicator for you to buy a pullback now this is on the time frame daily so these are actually small dips according to price history so if we get to get rid of all of those and look at the macro scale and see this big pullback over the course of this entire uptrend and now we have a pullback we can get a clear indication of when this is going to stop now, you can You see the price is starting to leave the moving averages here, this will be your bottom and this will be your upper now we are approaching the 50 level retracement, so this might be a good option to get into the dip but what I want you to do is be patient and wait because it has hit this and bounce up or it may continue down to level 618 and then decline upto what I want you to do is wait for the price to go past, and then buy as it's coming back up through it once you do that using the setup d fibonacci tool you can actually see these three different take profit levels that means the price should potentially go up there first one will be high the previous and then take profit 2 and take profit 3 going all the way up to ninety-six thousand and eight is ndred sixty dollars and that's for For bitcoin now, I would like to look at several cryptocurrencies at the same time because when bitcoin starts dropping, ethereum goes similarly and when ethereum rejects something and bitcoin also goes up it tends to do the same now

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Sitting at the 21 period moving average on ethereum and we can actually get a good fat rejection here, which if you look at the Fibonacci retracement by zooming in a little bit is exactly at the 618 level. It is at the 50 level it is now if you want to learn how to set up your Fibonacci tool to view the trade as if you were here surely watch this video but again looking at bitcoin you have to think about the areas of the key support and resistance levels where the price has rejected or Hold position and keep going up as you can see here we have this high point here in the fort the $1,000 price went down and then it just crossed it so this here is actually a key area where we can actually look for a lot of support right now but we 're going past it but that tends to be It is a trap that breaks below the previous resistance or support and then rejects it and soon all those traders here get trapped in their short positions as the buyers have the liquidity from these sellers to continue backing up right away, So if you're nervous about this drop, don't panic if you're holding the crypto for the long term, you're good for the next 10 years really don't worry about it, but if you're a day trader and you're worried if it's time to sell or buy more, I I suggest you wait and you will see rejections from these Fibonacci levels, and then you can comfortably enter into a long position, so if you guys are interested in learning how to day trade and learn everything I do check out my playlist for the novice trader and once you 'conclusion shed that you can Check out the entire strategies playlist I've got over 60 videos on this channel teaching you everything I know about day trading for free and if you're already advanced and want to look at the RSI variations for perfect entries when going long or short, check out this video Here, and if you haven't already considered subscribing to the channel for more videos like this by clicking that button here, thanks a lot for watching and we 'll see you in the next video