Crypto's Most Unexpected Crash (Will Bitcoin Drop to $37k?)
There are different methods that people use when the market is down to make money thats buying the dip, of course, as dollar cost averaging all these kinds of things so well be talking about all of that now, if that sounds good leave a like on the video Subscribe to the channel were almost at 200 000 subscribers and if you want to get more vital information like this about the market and about crypto in general, then make sure youre, subscribing and guys. The comment for today so leave your answers down below to this question. Do you think the markets gon na go down further, or do you think were gon na see arises from here? Let us know in the comments and lets get straight into it, enjoy so minus eight percent on the global crypto market cap. Bringing it down below two trillion dollars is, of course not ideal for the market at all, but there are a few reasons behind it and well be getting into that, and well also be getting into bitcoin and ethereum technical analysis so that we can take a look At what the market is actually doing and where we can go from here so first thing i would say, is if youre new to crypto dont panic. Dont worry, it sounds bad, but i promise you, it usually always goes up from here. You can start to. You know dollar cost average accumulate more at these lower prices. So then, when prices go back up to normal, then well see even more gains, so that is usually how things are done and thats how time and time again people have made money in the crypto market.
Its times like these, you look to buy not to sell so thats. Just the first thing i want to get out of the way is: if youre thinking of panic selling now is probably not the time to do that, or neither is ever really the time to do that. But weve got bitcoin at forty four thousand dollars. We have ethereum back over three thousand one hundred dollars um after hitting a low of like two thousand nine hundred earlier, which is crazy to see it below three thousand again after having rallied up to three thousand seven hundred um weve got cardano at 2.16 and you Know, to be honest, it just looks like theres discounts on every coin. Here so uh, you know if you ever thought, maybe youre never going to see these prices again now could be the time to pick some up. Um, so weve got top. Gainers is pretty much just omg network and cello, which are up about 10, but biggest losers. Weve got audience down. 18.69 weve got near protocol down 18 terror thor chain down 16 17 and a lot of the my favorite coins, unfortunately down but again the great buying opportunity so lets get into why this is happening or you know whats happening. So we got here. Cryptocurrency prices today bitcoin falls sharply after sudden spiking volatility, so were actually seeing a lot more volatility in the market, meaning uh. You know, prices can go up and down a lot more rapidly and obviously weve seen a big sell off now there is one main story which is everground, which is this uh, china, property giant and theyre, actually sparking economy fears right.
I check. I recommend you guys to look out for this story. Uh check on youtube. I think theres a couple of videos about it, but essentially major banks have reportedly been told that they wont receive interest payments on loans like due on monday and weve, seen evergrand having a big sell off on their stock, so theyre down like 10 today, which, for A stock is very, very big, um, so theyre in trouble, so they they grew to be one of chinas biggest companies by borrowing more than 300 billion dollars, and last year beijing brought in new rules to control the amount owed by big real estate developers. The new measures led evergreen to offer its properties at major discounts to ensure money was coming in to keep the business afloat and now its struggling to meet the interest payments on its debts, and this uncertainty has seen the share price tumble around 85 this year and Its bonds have also been downgraded by global credit rating agencies. So theres another thing here: im not going to read all of this right now, because you know you guys can read yourselves as well, but essentially theres a huge potential impact on chinas financial system, and you know just the general economy if you know evergreen collapses and So on so forth, so definitely check out the story, but this is definitely one of the things behind them. The driving force behind a sell off like this and a crash like this, is all these fears and uh people getting very worried about the overall economy, which is why were not just seeing crashes in crypto, is across the board.
Now one thing is uh. You know el salvador, of course, have adopted bitcoin as a currency, and this flash crash has prompted the president saying: buy the dip now. That is something we say on this channel, something most channels say as well. You know thats, usually how you make money in cryptos. Buy the dip, and even the president of el salvador is saying by the dip so yeah that must be a sign right um. Now, if we take a look at some bitcoin analysis, lets go on to the daily chart. So, to start with, you can see here that we are still above this buy zone in the daily chart on the pivot point supertrade indicator now. For me, that is a huge sign that we are still looking to be bullish. Um. We have a broken structure here and we are looking to move down a little bit lower and we have and they personally i didnt expect this move down. I dont think anyone did because you know there was no more fundamentals at play from a technical standpoint. Uh. We could look to retest anywhere pretty much from here. Its a really big, obviously general area, which is about 38 to 42 k, but anywhere around here, makes sense to tap into as an area of liquidity and provide us with an area which allows us to go up more. The next level id be looking at in terms of well where to target for would be forty seven thousand dollars.
Then we can look up to forty nine and 50 000 and then up to 54, 55, 000., so thats what uh, what it seems to be doing there now? The very very weird thing, obviously, is we dont know whats going to happen. Fundamentally, we dont know if people are going to be too worried about the overall fundamentals to put money into bitcoin, whether theyre going to be liquidating their own bitcoin. Whether were going to see more red candles like this, but what we can do is set levels set. Buy zones put in some extra cash if you have it, if not sit back and hold, and just dont look at your portfolio, uh wait for things to go back up because eventually, they more than likely will, because that has happened time and time again. Bitcoin and crypto is shown to be resilient and now that we have so much adoption in the world compared to before i i would say it is, you know impossible for it to fail, but we will see what happens here, especially for the old coins. I would say: dont get too risky with old coins, because all coins will see a bigger loss than bitcoin and ethereum will. But for now, what i would say with bitcoin is anywhere between 37 and 42k, and please dont. Take this as a financial advice, but anywhere between those two levels is a good opportunity to dollar cost average or to buy up some more steps and buy orders whatever you want to do, as in my opinion, i cant see it going lower than that.
If we do break down below 37k, then were in a bit more trouble, but for now that is what im seeing so that is bitcoin lets go on to ethereum ethereums very similar weve come into this pool of liquidity here on the daily chart, which was around 2, 900 and we are already pushing out of it – you can see here, so what i would say is we can wait for this level here. This is pretty much our next level or our next target 3300, and i would expect price to probably kind of push up. Its gon na have some resistance on the way around 3200, but i do expect it to push up to about 3300 and if it does that, we may see a bit more rejection. We may see a push back down to 3100, but we do need to clear this 3, 300 3400 level to see a nice break of structure and a push back up towards our target of 3, 800, 4, 000 plus. So what i would say is ethereum isnt. Looking great, however, we have liquidated a lot of these lows with a spring, so this could be. You know something to do with wyckoff something to do with a more smart money approach and a push higher. Now you know i dont recommend trading super high volatility levels like this um, i would say, definitely be careful, especially if youre using leverage um. However, there may be some new some new nice opportunities once we see some clear breaks of structure, so i would say, just hold off on the trading focus on dollar cost averaging uh focus on.
You know doing the more safe approach for now and then, once we see more clear, clean cut structure, you can come back to the channel, make sure youre subscribed in the kitchen bell on so that we can provide you with levels, and you know ideas for trading, But for now i would say with ethereum let it do its thing. Let the market move, sit on your hands and see what happens because for me thats, what trading is all about? Sometimes sometimes you just got to know when to not do anything you got to just sit there. You got to wait for the market to do its thing and then you can react to it, so that is bitcoin ethereum. Things are down, of course, but, like i said, is more than a great buying opportunity. If you thought, maybe you got into high prices nows your chance and you know, prices may drop lower, of course, but at the same time, if youre going to get them at a lower price, youve got a better chance of making more gains. So anyway, i hope you learned something. I hope you enjoyed the video. I hope this calms you down a little bit if you woke up and checked your portfolio and started crying but its okay. I promise you guys ive been through this many many times and with that being said guys, i hope you enjoyed the video. Please leave a like subscribe to the channel.