BEST & WORST Case for Bitcoin & Crypto Price (WATCH BEFORE SUNDAY)
We see it so much in new markets with new investors, people coming to the the shop with their money and they just want to throw it down on the next thing to get their 100x 50x, whatever returns. But at the end of the day, the guys who get in earlier are making the bigger profits and the people who are buying in late are the ones that are basically providing them liquidity to give them the profits. So every time ive got this shirt on. It reminds me that eventually, the ponzi scheme does fall and i could say that about all markets, of course, land market stock market, whatever market were involved in eventually things come crashing down, and the only thing that really supports the market is real use case and we Find out that in the bear markets and similar to the quote that warren buffett has when the tide goes out, you see who was swimming without their clothes on and so thats. What well look at in todays video, what i think, possibly in a short term scenario, the best case scenario for bitcoin and crypto this week. Worst case scenario is where i would like to see the market close. To give me some sort of sign of strength for the short term, potentially then building and growing into the longer term and of course, the the worst case scenario. What levels will break down from that point? Im going to go through some of the news as well, and some of the crazy tweets to really pump up new investors mine, i think its not doing a service to new people anyway, with that said, you know what to do.
Smash up the likes subscribes. All the youtube algorithm numbers there to help push this content through to more people and, of course, follow me on the official, twitter and instagram links are down below dont, get scammed by fake accounts. There are plenty of them out there and theyre continuing every day. So just use the official links down below dont worry about the rest, and if you want to learn more about cryptocurrency trading and investing my thoughts on the market, patreon link is down below and, of course, the investor accelerator premium to learn about trading and investing in A structured format with that out of the way lets crack on with the news and the charts, and essentially what im looking at here with bitcoin is. We have about three days left to the close of the week, so the closing is always an important part of any chart any market. You want to see where the price closes, because that gives you an indication of whether there was some strength in the market or weakness, leading into the clothes and theres another old saying that amateurs control the open. So what happens at first and professionals control the clothes? What happens at the end of the day – and this is known for decades, its a known thing right and in terms of crypto? Yes, the markets are 24 7.. So how can there be a opening and closing price theres just a set time that the markets will open and close? Everyone knows that and especially professionals, because they are setting their algorithms to it.
They set their trading plans to it. I know that on monday at 10 a.m, the market closes for the week and every other day or every day i should say, is 10 a.m. Thats the end of day close, so you just have to adjust that to whatever time frame you were sitting on, so that is the end of day. Close and patterns are formed from those clothing prices. So looking at the market, weve seen a ton of big news. Big news, like luna, hits all time high as terra community passes popular burn proposal, so it looks like they want to burn some tokens and then, of course, that seems to drive price up because it takes liquidity off the market or it makes the token become more Scarce we have other news: public.com expands crypto offerings one month after digital asset launch, so they had 10 cryptos that they were trading and now there are 21, including sushi swap uni, swap solana and, of course, shib. This is the tweet from public.com and 36 000 followers jack follows them. Moving on robin hood sees a slide in dogecoin trading interest. That seems normal at this point in time, especially because doge price is down in terms of big news, were waiting on this. You want to see this come to the forefront again and you can see in quarter. Two trading is always up and its always wrecking new investors because they come into the markets too late right also, this is uh nfts that have been sold this week, so nft artist people sells the latest work for 29 million dollars, of course, nfts and metaverses.
I dont think theyre going anywhere and maybe i started the video with a bit of a negative feel to it, but im thinking short term just short term days to potentially weeks, just to maybe flush some of the market out, but in terms of prices. There are definitely areas that im looking at for breakdowns and and uh ideas, or you know, levels to give me more conviction that were going to go up in the shorter term, so im not not entirely bearish overall, but i do love to see markets cool off. So that we can rebuild and start to grow again, you dont want to see these things shoot straight up, because that doesnt, that does no one any favors. The smart money is making isnt going to be making a lot of money because theyre just going straight up, sell and then they have to dump on the market and then the shows over. So you want to drag people through the mud and if it shoots straight up, new investors get absolutely destroyed, because market goes straight up, they generally buy the top, and then it comes crashing back down, but long term, nfts metaverse. Of course, this stuff is going to be big. Ive also got some to talk about in just a moment, and this is the artwork nft people huge congratulations to people 29 million, its a spaceman in a box awesome. But, of course, when it comes to nfts, i think this is more about moving money around the world tax free, thats thats the way i look at it anyway, you, let me know your thoughts down below.
If i had tens or hundreds of millions of dollars, i would definitely be finding more ways to be moving that money around the world, apart from giving 50 of it to the government for basically doing nothing going further with the big news november 10th. Just a couple of days, mastercard investment community meeting, and if we look for the word crypto, we have quite a few of them in here we have building solutions to support the crypto economy. Now, even if we see the market go down in the short term, you have some of the biggest companies in the world, building out infrastructure to support cryptocurrency and the use of it for everyday people that isnt going anywhere in the long term. But in the short term, yes, i want to see some of these corrections. Okay doesnt mean it has to happen, but in terms of crypto with mastercard, crypto services, security and fraud, services, identity services, custody services also buy, spend cash out in crypto and rewards, and then network access, stable coins, cbdcs interoperability, okay, so there is the bullishness there theres A lot coming for crypto but price wise. What the hells going on well look at the chart in just a sec, d5 trading volume on large dexes has jumped 550 in 2021 markets. Still moving a lot of money still coming into the space and like we saw in yesterdays video as well theres still plenty of money coming in as well on a weekly basis, 12 weeks, up with more money coming in ftx expands miami office as crypto jobs gravitate To florida exchange plans uh permanent space for 18 employees up from four development, vp dabia sees real estate as part of crypto future thats, interesting right, crypto, coming together with real estate and, if youre new to the channel.
I talk a lot about the real estate cycle. As well, which is looking like its due to peak later this decade around the mid decade – 25 26, 27 – that is 2026 of course, 2027 – and if we get this, come together using nfts in the property space fireworks. I think theres going to be a big lot of fireworks there coming so lets bring all that news back together to the chart. Now, of course, this is just my thoughts, some guy on youtube. I look at this stuff every single day, best case scenario. I want to see this close above the previous all time high and at very worst, the all time high from april so thats. Why? I made a big mention to the close uh earlier in the video. If we can get that close above that level, then we know that the professionals, the smart money, are actually buying up during this dip and theyre able to push that price up to above previous levels where others were selling before. If we get this close further down, then that can lead to further prices further declines over the coming days and weeks. So its really important over the next two call it three days or a couple of hours out from the third day that we get. This close above 67, 000 and at worst above 65, 000., were currently sitting at 65, 000 thats best case scenario number one getting that close above there.
Of course, the higher we close, the better it is for the next week to have further price increases. You can see if the market closes high generally. The next week is up – or at least it attempts to climb up higher and higher, and you want to have these bars moving away from each other. You dont want to have too much overlap in the price, as you can see back through august, because eventually it starts to roll over and then form another base thats. If you want the market to go straight up, but of course a correction is always a healthy time in the market, and it gives you another opportunity, provided you have the conviction that the market is going to go up in the longer term. It gives you that extra re entry opportunity and thats what we saw here in september, we patreon the investor accelerator premium – were posting out to our members there, because that was a very high conviction for us, especially on the exact day of the 21st of september. For other reasons, i wont go into here lining those up with price and time it just made it so much easier, so thats the best case scenario, and even if the market rolls over another opportunity now worst case scenario, of course, is if price goes down, but How far down should it go to retain the bullish picture short term well, at least above the previous swing low, so the previous area, that the market had a turn and the turn was the week of 25th of october and that low is at 56 400.
. So, provided we stay above that area, not so bad, so were in that range of the market bouncing around now, if it does break down from that point, still not the worst case, you dont want to see it close down beneath that point. So, ideally from here, if it breaks, comes back above and then closes above weak, but not the end of the world, we start to get closer beneath that level. Then thats, starting to show a lot more signs of weakness and thats what you can see when the market does break down, especially on macro time frames for a crypto market like weekly charts, you get the closed down. Market tries to recover its, not ready yet close down close down, and then we start to get that sideways action. So the market can regenerate itself, get some energy back and start to move on again into that macro. Bullish view of the bull market that were currently seeing now, what does all this good news mean for all coins and the booming industry of nfts? Well, ive got todays sponsor torum whos in metaverse ecosystem with nfts and social finance as well social decentralized finance. Now a lot of these cryptos have obviously had a pretty big peak on the back of the big news from facebook, changing its name to meta, and so everything is starting to everything. Thats got metaverse in it is really trying to take a big boom from that.
Take a piece of that pie, so it looks like they might cool off in the in light of also bitcoin having a cool off so its a good idea to keep an eye on these projects, especially if they do start to come down. You dont want to be buying these things when they have boomed in value. Torm currently has 136 000 users and, as you can see, from their ecosystem, theyre looking to connect cryptocurrency users online, so basically to be that space that everyone connects in and they can share their nfts and other workings online. They land and, of course, their finance and thats, where their staking comes in as well other things i look for in a project when im doing some research are the backers and investors, q coin labs and hobie ventures, plus theyre, also on coin market cap and coin Gecko, so you can see the data over there, along with that you can trade them on pancake, swap uniswap, and now the centralized exchange of cuecoin note that the current price is around 1.30 and market cap of 21.5 million still seems extremely cheap for the metaverse ecosystem. With backers like q coin and hobie, so im gon na keep it on my watch list, but do note that the market price has shot up just in the last few weeks started around six cents peaked at around two bucks, a solid at least 20 x. In there from lows to highs at the moment it seems like it might be just having a cool down.
So if we do see bitcoin start to cool off, i would expect the rest of the market to cool off in that period of time which might set up for better entry opportunities. Speaking of entry opportunities. Now, if we do see, bitcoin start to fall from that point, thats an if then im liking efi at the moment. So this is something that ive talked about with the community patreon premium. All the links are down below. If you guys are interested coming out at around that dollar dollar 10 area now, of course, everything that i talk about is not meant to be a buy signal im looking at this and just looking at the chart for support and resistance levels as an educational purpose. Only you guys go away and do your own research as well, but youll see time and time again when the markets retrace to 50 percent and also sit on previous support levels. Potentially they have a good low, forming doesnt mean the next day or the next hour. Its going to boom or that it cant go any lower and maybe find a little support a little lower and then come back above the 50. But it is a good area to begin keeping this on the watch list for entry opportunities. So efi is something that i am liking at the moment now, just because i like something as a trade doesnt mean i want to hold it long term or i cant change my mind the next day, im looking at them as being trades, because at the end Of the day, i know that a lot of this stuff is essentially a ponzi scheme and at some point it comes crashing down im here to make some profits and then keep an eye.
A look out on some of the projects which survive through the bear markets and putting some more development in and will potentially be the main names, the the stayers in the metaverse space, because i think this has got a long way to go. What i dont like the look of im not to end on a negative here, but willy woos comments like this sort of thing, which gets people sucked in. I know this is a ponzi scheme or i know that people are piling into the market and eventually it sells out on them and land space stock market. It all works the same, you know, more money is getting created and people are looking for somewhere to put that money. The end of the day. Something comes crashing down right, so maybe its a ponzi – maybe its not, but essentially it builds up. It crashes down this sort of stuff to me just brings the hopium to another level, willywoo whats, my prediction for the top of this cycle. Since i think this is the last cycle, the one that takes us to saturation, which, if it wins, we cant put a usd value on it because things get valued in btc. Thus the cycle top is easy to pick. It will be. One bitcoin equals one bitcoin. Now, if thats hopium, if thats not opium, i dont know what is honestly, i do not have this view at all. I would almost say that 100 that this cycle is not going to be the cycle that takes us to saturation point.
This is the sort of talk that we saw in many previous cycles: stock market cycles, property cycles that get the inflated egos of new investors sky high and make them keep their money in the market waiting for this sort of thing to come now i dont know If willywoods twitter account was hacked to put this on there or, if its just a hoping post that he was feeling himself at the time, no hate towards really who does a lot of great work out there all right. A lot of great work dont want to see any hates in the in the comments sections but uh. This is a sort of mind frame, speak that people catch on hold on to it and they miss out on opportunities dont. Let that be you if it is at least just just take some profits at some point on the way up, as we continue to climb, because people are going to continue to use the us dollar at least in our generation thats. Definitely the way i see it. You might have a different view.