Hello guys and welcome back to the mood today we are the 11th of june 2021 and guys it's been really really hard to figure out what's happening over the bitcoin price. These days and i've been tempted myself to go to go out of the market, but still we are going to figure it out in the coming videos. So please, if you didn't subscribe to the channel, consider doing it right now and without further ado. Let'S roll the title guys so guys. This is our bitcoin price right here and yes, i'm gon na tell you what bring me the decision to go back on the market because, as i told you yesterday on my twitter account, i went out of the market. This uh game we're playing right here over this resistance line.
I really didn't like it and i thought at some point it's probably probably time to get out of this horrible market and see what happens but guys. I studied a little bit more of my charts and uh. I think we are fine, it's hard to say. I know, but we are fine so right now i took new position, i'm into matic bnb, btc and ada for a while, and because i want to see what's gon na happen next and i'm gon na tell you What bring me the decision. What leads me to think that we are not going to dump more? It'S definitely, a very very tricky market definitely extremely hard to trade, and you can see that everywhere online much people. Don'T really trade this or they are scared, to trade It and that. There is a reason why. We are right now on the fear and greed index at the lowest
So what motivated my decision to stay in this market and for that guys, we have to go on the weekly chart so guys. This is our bitcoin weekly chart and you can see something that i really do. So that's that's actually my whole prediction for the bitcoin price, but you can see something that i really really do and use a lot in my analysis, and you can also inspire yourself of this. I really recommend you to use this index right here, the vix. It'S an amazing indicator of when the market is bottoming right now and what we see here. We are right here playing over that resistance line that historical resistance line that was on top back in 2017 and now it's support. So that's something super important, so we all know that there is a death cross and all of that coming out and everybody is telling you about it, and that seems pretty scary. But here is what i see on my vics guys once we are on that support line here we are printing a lot and a lot and a lot of fear, and last time we did
That was back there on the 30th of march 2020 at the bottom of our corona crisis, uh dump and uh after we've been there. What is that place guys? Do you remember back into free december 2018 after that giant dump guys? Do you remember that and so on and so on and so on and guys we got all of that right now here again so anyway, guys also, like think, think, a second
If we are jumping right now, back to 20 000, the whole narrative of bitcoin is completely dead. We are in the real it's more than a bear market. It'S it's! It'S like a scam, how to place it. It'S like cryptos are not really what they are supposed to be guys. This vix indicator is very trustable. I mean there is look. Look. I'M gon na show you on the monthly chart. Something else look at this all this period here that we got on the monthly chart on the monthly bitcoin chart
All this period here on the vix is green right now, all the dump, the final dumb phase, all the bottom face guys. So do you think it has a significance right now on the weekly? I think so i think so guys. I think we we found the bottom here and it's a why i'm telling you that, and it's really really hard not to doubt because of all the fear going on on twitter and everywhere, and you really don't want to to follow and and - and you really don't Want to ship into that, and i'm telling you this is this: is a chicken move getting out of the market? I know we'll see if i'm right or wrong, but uh we might see some upside during this weekend guys we might see some upside so guys. Thank you for watching this video. If you didn't know the channel please consider subscribing this channel is growing and by the way, if you want to support the channel, you can also go on the channel itself or in the comment section down below you got all the links