BITCOIN & CRYPTO BECOMING NEW SAFE HAVEN FOR INVESTORS?!
I hope everyone survived that night without social media, and i hope everyone survived all the tweets with facebook down bitcoin up but as a matter of fact, bitcoin is moving upwards and that is great, so were going to discuss bitcoin in this morning. Update and were going to discuss what the hell is going to happen to coins at this stage before that. Do not forget to subscribe to the youtube channel and also do not forget to like this youtube update as thats helping me a lot to grow this channel. To watch the next level and also do not forget to check out my twitter and instagram beneat and follow them as im doing a giveaway at 50k followers. So last night facebook it whether or not its being hacked it doesnt really make sense to me im here. For price action and facebook went down and well, you could be expecting a move to be happening on the markets where such a thing happens, and yesterday weve also discussed the fact that evergrande was taking over the markets once again, and oil prices were running up. That could be causing a downward move on the market, however, beautifully the markets, the equity markets have been dropping down significantly and through that, weve also been seeing that bitcoin has been getting a slight corrective move as we touch this low. Looking at the equity markets today and its coming to a conclusion already is that we are bouncing back up and the equity markets are opening with a green candle of about 0.
7, meaning that most likely today, the equity markets in the us are going to open green. Too so yesterday, and also in the past days, weve seen that bitcoin and crypto have been bouncing up swiftly, while the equity markets were dropping a little. This could be this thats its strange as normally. You would be expecting a panic to be happening on the crypto markets when the equity markets start to drop. So the actual conclusion that we can derive out of that is that bitcoin might be front running the equity markets in which crypto is signaling, that the equity markets are going to bottom out quite soon, um. That is chance one. The second one is that crypto will be a safe haven in the case of a crash on the equity markets, which doesnt make sense, as we didnt see that one happening at all in the markets. Yet so the bounce back up is kind of in line with the fact that um bitcoin was bouncing up already too and showing some strength so im. Assuming that we will be seeing continuously a bounce back up on the equity market relatively soon too, and maybe the dollar and rent oil dropping from here onwards, but thats, something we have to discuss still looking at the price action. As you can see on the chart, we have been covering this topic: uh weve, taken the liquidity on the high weve, taken the liquidity on the lows, and i was assuming that once we got into that range, we are going to have a swift bounce back up And we did so probably were going to grind back up levels that we are crucial to watch.
I think the same level still, which means that the area around 47k is the one that im currently watching that it had to hold on to preferably the area around 47.5 to 48k is something to watch, and now the question becomes of um. The fact why dont we get a re test at 45k. Well, if you look back in history in this case, weve got the crash in june 2021, or at least the correction back, then beautiful retests, causing all those previous highs to be broken right. So what do we see reversals happening here? Consolidation run back up and you can see that we dont really get a re test at 31k were just constantly making higher lows another breakout to the upside, resulting in a very big breakout to the upside. Even more and not really a retest of 32k happening here, breakout to the upside. Why? Well we struggle around this recent lower high, but we also get all those other wicks here. That is probably stop hunting and some shorts are placed at those levels. So once we crack this one, you generally get a very big move to the upside, as all those levels are taken and thats what we saw here and when we got in that range, you would assume that we might be getting a re test in this zone. However, when markets are granting you such a re test, its not really showing that much strength is usually in a bull market, its not giving you the favorite uh retest to be buying back in so now we already see the two of those tests are not done, And when we go back or when we go further in the in the actual structure, we can see the exact same here.
We do get a beautiful retest as we slam dunk through levels and over here. When we do the exact same, is we dont get a re test of this level here right so also, in this case, we do not get a re test. In this case, we did not get a re test, but the prices dropped back down towards support. So those retests are not up happening on and on. They do not happen that, often, especially when you go back in history when it comes to the 10k breakout its just not giving you those re entries all the time, so you should be convinced or you should be considering the fact of okay. What is the strategy that i could be assuming or trading in with? If i want to start a swing trade – and i was not able to buy here as majority – is not buying at support, but most of you are eager to buy into this range here. So then youre questioning yourself, okay, if we get to 45k, i will be buying if we lose 43 ill be out, but if we do not get the beautiful retest, the odds of buying here in this range is granting me a beautiful entry. The downside is all the way towards 43k. The upside is literally another run towards all time high at bare minimum, which is granting you a risk reward of around. I guess like four to one i have to uh get that one going here you go.
So if you buy in this range, this is the loss and it is 3.5 to 1 at best at this stage, which is you should always look for a minimum of three to one. So should you be buying into bitcoin at this stage or even at 49k? Well, given the conclusion of the historical price action, it seems more likely that bitcoin will be breaking out upwards towards anything around 50k or maybe even a recent high and then comes down towards 49 before we continue to grant to ready back up. But the overall question of a retest of 45k: that is just not what you want to be happening as in history, those pr retests after such a big candle are not being done. So i think you should be looking for higher levels and i think you should be doing it for altcoins as well. Looking at ethereum at this stage, we can see the exact same picture ill, just use the the squigglies once again. Squiggly level is pretty much the same, so sideways action breaker to the upside immediate flip of this previous high, resulting in continuation to the upside right and we cracked a critical resistance zone around 3160 for support. And then we found resistance around 35 coming back down into support, in which oh apologies in which support is holding here. Im not expecting ethereum to go all the way back down to whats this level. Once again, if we get that the confirmation of lower highs are quite clear, so then you would be looking at shorts around this area with a stop here and take profits around this zone.
So right now we got a beautiful retest and we might even get it a little bit lower in which we most likely are going to continue running, and then we take out these heights and probably are facing a run towards 3 800. That is what im, assuming with the market, i think the chances of a breakout upwards are getting higher and higher, especially given the markets granting us a potential bounce on the equity markets. If you enjoy this type of content, please share a comment: if you do, if you dont also share a comment, if you want to see some other content, please share it in the comment section as well. Dont forget to like this youtube update ill, be back soon.