Hey guys, all in crypto here and welcome back, ladies and gentlemen for another youtube video. This is an important video, ladies and gentlemen, because i believe right now, bitcoin is at a crucial level and we're going to talk about it in this video. I found it very amusing over the past couple of days, watching kind of technical analysis. People really make every single call wrong. You know they are literally it's like dealing with somebody with bipolar. They are changing from one polar to the other um rapidly. Sometimes you know within 12 hours and ultimately guys. You know, i think that ta right now is failing a lot of people. I think ta is a very useful tool and i think it's one that everybody should really have in their arsenal if even on a novice level, you know it's just fun to play around with and ta can um
You know really provide a lot of reliable data in certain situations, but right now guys you know you, you really don't have other than the trend of this much going on. You can see. The trend is clearly um bearish. You know you can see that the overall trend is is very, very clearly downwards, um, and this would suggest until something happens, more continuation. You also have a symmetrical triangle. That'S formed essentially right here, where you're neither making sort of higher highs but you're, actually not making lower lows.
This typically on the balance of probabilities is going to lead to more downside. So what we're going to do in this video guys is we're going to cover the possibilities of us, perhaps going down to 24 25k or continuing to do what i believe we're going to do, which is going to make a recovery out of this. Nothing too major. Maybe a bit more capitulation before. We then do a similar thing to what we have previously seen and i'll show you what i think essentially is going to happen and the best way for me to do that is show you where something like this has happened before, and this was march 2020
I think we're going to have a similar recovery to what we saw back here guys and we are going to continue in this forum. We did say before this sell-off that we are in a bit of a tricky situation with it being made lots of sellers sell in may and come back sort of the end of july um. So what are we going to talk about in this video now? Why is it that i believe that we aren't going to sell off and the floor for bitcoin is in well right now, guys, i think you have a sort of bottoming structure forming which i like to see and ultimately i think, if you look at the kind Of previous structures that set off that set up before a sell-off, there is some in innate uh differences here, guys um and ultimately, you know,
I think that if bitcoin was to sell off any more than it already has you would be getting into sort of dangerous territories um. Certainly when it comes to you know, forming death crosses and stuff like that. I do believe we're still in the borough and i do think we're going to continue and ultimately i think we bought them because we showed you the abc correction. We largely subscribed to something called the elliott wave theory. We think this entire market, certainly bitcoin and other altcoins we've mapped out for the likes of cardano um
You know rv, A number of other projects essentially are moving in in a kind of five-way of elliott, wave uh structure and they are going to have abc corrections along the way and you can see within those within each within each individual wave. You have the elliott wave structure, the pullback waves have an abc correction and you're kind of um forward legs. Have you know your one two, three, four five movements in them and ultimately we do believe that you are uh. You know just in your fourth leg now for bitcoin and you are going to see a fifth wave continuation and you are going to have abc corrections at the end of this third wave guys. So that's essentially exactly what i think's happened. I think you have completed your abc correction, but the ta guy i was listening to this morning.
He'S a brilliant ti Guy was essentially saying that he believes there is more downside to come. You'Re essentially going to have another fifth wave down here Um. You can see very clearly that you know even in this fourth wave, you have an abc correction and within an abc correction, you have it. Essentially, the elliott wave theory gets turned on its head and you have a one, two, three four five wave and then on the up leg. You have an abc correction, so it kind of reverses - and you can really see that guys here. You know you one. Two. Three four five and then you back up for your a b c and then you rinse and repeat one two, three four five, but he thinks that the fifth wave hasn't actually come in yet um
I somewhat agree with that. I somewhat don't. I think ta right now only serves you to a certain purpose. I think the best thing you can do right now is understand what you're a part of you know. What i'm doing right now is i'm learning i'm spending all my time right now. You know i'm still dollar cost averaging into my positions. You guys know i've been accumulating something like cardano and other projects, things like algorand, very heavily throughout this time period, but right now, in times like this is the best time to learn guys. You guys know I got into the space in 2017, which was either the right or the wrong time. It'S the wrong time in terms of an investment proposition, but was a great time in terms of the lesson that i learned and it's the reason. I'Ve stayed relatively calm throughout All of this and you are going to reach an equilibrium bitcoin's either going to do one thing, and i know this sounds very contradictory and um not very decisive, but it is either going to go up or down guys.
I mean these are the only two ways: it could possibly go um and you are going to reach an equilibrium very very soon. In my opinion, we don't really want to see too much capitulation, although if we capitulate, it would just be another confirming factor that we are bottoming. But what am i more biased towards? Well, i'm more biased towards a ball sort of um, a bullish movement? Why is that? Because i do believe we own a macro bull trend, guys. You can see very very clearly that bitcoins, it's it's only going up regardless of these sell-offs and and what happens within the four-year cycle. Theory, and ultimately, i do think 2021 is
It is a ball run. Essentially, i think that's how it plays out, and i think you are going to recover from this - whether or not let's take the worst case scenario and you sell off and you roll out of this triangle, which, based on the balance of probability, guys, would suggest you're Gon na do because, of course, we know that symmetrical triangles um will tend to go towards. There'S no decisiveness there. What it will do is tend to go towards the overall trend and the trend right now is bearish. Let'S say we do roll over and we go down to that sort of uh 25k mark
You know i reckon you're going to get bought back very, very fast, and sometimes you need a kind of volatile movement to push the market in one way before then going another. So i don't think if, if we did sell off to 25k, which i'm not suggesting we will do, but it is a possibility. All that is for me, and you know the people around me is a fantastic buying opportunity that i will be taking full advantage of
There are a lot of things about bitcoin and i can tell there's a lot of new people in the space, because people are still asking me the age-old question. Well, why is bitcoin valuable when there's nothing tangible behind it? That'S like asking if freedom is valuable, you know, or what's the value of actually being able to maintain value in a world where the value systems that you are given are constantly losing it. You know there are they're just two very broad reasons we could go on and on and when you get into things like ethereum and stuff like that um, the question was raised and i'm really open to question guys any kind of uh intellectual questions that you guys Have in regards to the space i'm more than happy to answer, we are going to start live streaming, so we can do more.
Um have more sort of personal interactions um. You know he was essentially saying. Well, you can't really compare something like bitcoin and ethereum to amazon and microsoft were the two dot com stocks that we looked at and we r you really can, because you know amazon largely is um, not the whole business model of amazon is really a service. It'S it's really a uh. It'S really technology amazon, it's not really anything physical um! It'S really just a marketplace that came out of the internet that has done exceptionally well and is revolutionary in many ways the same as microsoft. It'S really just software that is sold. They do more physical stuff now, but uh blockchain is akin to the internet, and cryptos are akin to the dot-com stocks, and that was the point i was really trying to make and if you remember that, i mean right now, guys you've got el salvador. President of el salvador says that he's uh going to make bitcoin legal tender you've got the cayman isles that are essentially looking at this
The news is just continuous guys. Look you've got the bank of england release discussion paper on stablecoin cbdc, the world is moving, Bitcoin are bitcoin, gold are likely to withstand fed taper skype. The world is moving in the right direction and i do also think - and i want to take you to this here guys. This is the stop to flow uh deflection, Chart you're at a crucial point right here, and this is usually followed by a big run-up guys and ultimately, i do think a big move is coming either one way or the other we've just spoken about going down to Sort of the 25k k mark, You know possibly a little bit lower 23k. Something like that. It'S not the end of the world guys, and all that is for me, is a buying opportunity, and what you want to be doing right now, ladies and gentlemen, is learning understanding what you're a part of um we're going to be, bringing out more videos when we Really you know i've been listening to a lot of things. Um i've been listening to andreas antonopoulos, who is you know very educational, individual? Yes, our values might not align uh our philosophical values and - and you know, he's not a big fan on sort of speculating in regards to the price of bitcoin um. Whereas you know i am um, i don't think there's anything wrong with
I think most people are in the crypto space to make money um, and i think what ends up happening is you know the more they get involved with crypto the more they kind of fall in love with the ideologies behind it. That'S certainly what happened to with me and i'm sure many of you guys out there and you are at a crucial moment for bitcoin guys, and i am expecting you know, a move which way that move goes. Ultimately, i'm sticking to we've bottomed. I don't think bitcoin can afford to go much lower than this
However, it could set up a similar structure to what you had over here, guys where you you roll over you capitulate you roll over and you can picture like. But if you look at the structure here, it's kind of like a hanging branch. You don't have that here with um with bitcoin right now, So i'm you know we'll see what happens uh. I found it very sort of amusing watching all these technical analysis guys really chop and change. I think this is why understanding the fundamentals of what you're, a part of and and that you know, blockchain technology, really is going to play a outstanding role in the future and is going to accrue value. As a result of that is the most important thing you can do right now, um, but i'm still bullish, i'm still biased bullish. Even if we sold off i'd still be bullish, and really it would just be another buying opportunity for me and and right now, as far as all coins are concerned, you're really at the mercy of bitcoin and what it decides to do.
It is showing a little bit of weakness, uh, that is true, you're, not really making up your mind right now, um you're, coming up and you're smashing your head off this ema, which would kind of all dictate that you perhaps are going to sell off slightly, but Time in this market is dangerous. Ladies and gentlemen, you know i've been in the business now for a while of um dollar cost averaging picking a good entry point and sticking with it, regardless of what happens and huddling, because that's how you make money in the crypto spaces by hodling and, ultimately, you Know i would like to think that we are through with our sell-off and we are going to get back rocking and rolling. I mean lots of people, do think we're in a bear market, and the reason being is is because of just how brutal the actual sell-off was. Um
This essentially was largely. This sell-off is the first time we had 772 000 people get liquidated on long positions that that brought a unfathomable amount of cell pressure really from that 38k. All the way down to 30 mark was just cell pressure from liquid lungs, getting uh lungs. Getting liquidated. Sorry, so that's all i have for in this video guys. I just thought i'd answer it. The the shorts and curlies of this is - and let me let me make this apparent to every single one of you and i hope, you're all still still with with me on this. Nobody knows with 100 certainty whether the price is going to go up or down
So it's important to look at both aspects. It'S why i listen to a lot of ta guys that have opposing views to me. But what is the best thing to do is look at, like i say both um aspects, whether you know both situations, if we did go down to 23k, is it the end of the world, absolutely not for some people that bought a 65k. I bet they're gon na perhaps feel like it is, but i'm sure if you bought back in 2017 at 20k um, you know you're still in the profit from there guys huddling is the key to winning in this, and ultimately i do still bias that we have Bottomed out and we are going to continue moving, but bitcoin needs to do certain things um we could absolutely roll over, but i'm really going to stick um to the bias that we we're going to kind of stay here and we're going to start to recover.
But you know just remember: bear that in mind guys we could still roll over. We could be coming back to test some of those kind of levels previously um. That would be fine. I know it would scare a lot of people, but you know at the end of the day guys this is this: is the crypto space volatility is attached to any emerging market? That'S just how the game goes, guys, i'm gon na love and leave you on that. Note remember it's time to learn guys it's time to do some reading.