Lets talk about that, but also go through some other updates that are going on then well, look at some ta and see whats going on with price action. First, a new study done by the civic science foundation found that four percent of respondents to their survey quit their job because of gains in cryptocurrencies, which is really really incredible of that four percent. They were primarily lower income individuals, 27 percent of them made less than twenty five thousand dollars. Thirty seven percent made between twenty five and fifty k. That means sixty four percent of people who quit their jobs because of crypto were making under fifty thousand dollars a year and hopefully have been able to change their lives. Because of this, this is so really cool. This is uh and congratulations to those individuals uh. This uh – this was also uh, talked about under a headline one. In 25, americans quit their jobs due to gains in cryptocurrencies uh. That sounds a lot bigger than four percent, but well go with it anyway. The survey was conducted in the month of october had approximately 1200 respondents pretty respectable sample size. For this type of survey, remember sample sizes and statistics are all about trying to find a representative random population 1200 is not bad for for this, but either way four percent uh of quite frankly, if if we could extrapolate this to represent america, if this was truly A random survey and if we were able to determine that four percent of the labor force is broadly quitting the workforce because of cryptocurrency its worth, noting thats about six million workers or about five hundred thousand workers, not going back to work, uh or potentially quitting every Single month for a year, so, in other words, one of the reasons maybe were seeing bad unemployment numbers is because crypto has been doing so well.

Now, obviously, were in a little bit of a red moment here with crypto coming off. Some of the all time highs that weve recently hit, which were going to talk about in just a moment, but really incredible survey younger investors worth noting also much more bullish on crypto than older investors. When asked do you expect it to be wealthier than your parents as a result of your cryptocurrency investments 18 to 24 year olds, uh, 37, uh? Well, actually, uh 21 of them said yes, and only uh 10 percent of 35 to 54 year olds said. Yes. That means you have twice as much enthusiasm amongst 18 to 24 year olds than you do, between 35 to 54 year olds, a lot of maybes and uh. Actually quite a lot of no, i dont hear: do you expect to be wealthier than your parents? As a result of your cryptocurrency investments, no, i dont, i wonder if the no i dont somewhat represents a little bit of a disappointment and how difficult it has been to buy uh larger assets, uh for for peoples, household portfolios, usually like real estate, because real estate Prices have moved uh so substantially, but uh more more on uh or more on real estate in a different video uh. Also by now, im sure youve heard that the stable center is rebranding to crypto.com. It is a 20 year deal. It is effective christmas day. The staples center has been called the staples center since its inception in 1999.

Itll be the first time its changed its name also. We just had regulatory approval for the selling of 56 million dollars in illegal cryptocurrency from a 44 year old promoter of bit. Connect. Remember that one bit connect – oh man, uh weve also got chinese authorities again this week, uh doubling down on their quote full scale crackdown on cryptocurrency mining. This is potentially leading crypto uh, specifically bitcoin, to fall under its 60 000 dollar support line. Uh lets now talk. Some technical, so if we look at some technicals for bitcoin here and then well, look at some price action on some other coins. We we definitely have seen bitcoin now fall under its 60 000 support and it really slow bled out to get under 60. 000.. Now lets go out to 30 minutes just to compress this a little bit more. You kind of see this over here. This is uh. This is your 60 000 uh im. Sorry! This is your 63 000 level here. This is 60 000 right here, so we had a quick drop from about 63 8 to 60.. We rubber banded here, but we really had this sort of slow bleed out that stretched out over the last few days here and then all of a sudden, we got a sharper sell off right around 59 000, and that brings us to where we are now, which Is actually under our 58 000 support line? This is a pretty important support line.

Weve been bouncing off of this quite a bit here. If we look at the one minute chart, we fell below it, we dropped down an oversold to about 56.6. Now were bouncing off that 58 line were dropping again at the moment at the time of this recording, this 58 line is very, very important because if what we see happen here, uh is the same thing that ended up happening at the 60 000 line, which is We rubber banded around it for a couple days. Lets go ahead and look at this here. Lets zoom out a little bit lets go to 30 men. Here there we go okay, so we see this rubber band around here. It lasted from november 15th at about 8 p.m. November. 15Th. 8. P.M lasted until about 8 p.m. On the 17th thats about two days of rubber banding, mostly below the support line, creating obviously resistance. Now we are beginning a potential rubber band under the 58 level. If we end up sitting here for a couple days and we cant keep it up over 58 personally, i believe that we are heading to 54 000.. Now the 54 000 support line is not a very strong support line. We have a much stronger support line at 47, 000 with uh 4, seven thousand one hundred and another one at forty, six thousand eight hundred, which really gives you a strong region of support right around the forty seven thousand level.

This is a strong support line. Uh im, not thinking that were going to be able to see a dip to 37 000. Unless we saw some substantial liquidations, which is possible, the liquidations could go up if, if we did uh run to about 47 000, but i do believe that there is a good chance that there is a next stop for bitcoin at about 54 000. Im not sure, if were going to push down past, that support line but well see how price action is here, but right now the fact that we cant get back over 58 uh over the last uh sort of uh. You know two three hours here is something to pay attention to from a technical point of view now uh. If you look at bollinger bands right now, we are obviously were at a relative low in terms of bollinger bands. I like to use trading view to look at bollinger bands, but uh its worth, noting that these will stretch with price action so as with all technical analysis, theres always a downside to some ta, and we did see right here. Historically, bollinger bands always work better, as almost all ta does, but anyway we did see a bounce off of the bollinger over here at about that 56 six level. Although we do and were starting to see these compress a little bit here, which could be a good sign that were going to kind of stay at 58, hopefully break out over 58 and push back over 60.

. That would be best case scenario. But if we do continue to get some negativity and some fun, whether thats out of china or its because of bloombergs notification on their expectations, that a bitcoin spot etf is nowhere near close, then we could potentially go down to that 54 000 level. And then these bollinger bands will obviously stretch down uh. So when i, when i hear folks talk about bollinger, remember its its all part of of much more ta and the news cycle, the big news piece, though, is, in my opinion, what bloomberg announced this morning we covered this live uh when the alert came through the Bloomberg terminal uh, the uh. The notification had to do with uh the bitcoin spot etf would, which would be a way for potentially trillions of dollars to flow into the cryptocurrency markets, for people to in a low fee, lower risk method be able to buy cryptocurrency. Now the uh, of course, most cryptocurrency hodlers – are much more interested in holding their own coins themselves, which i am as well. In fact, i generally like to buy my coins on coinbase pro because it has the lowest fees and then i could transfer those to areas with higher fees. However, i have to say im very frustrated recently with voyager digital, because i transferred about a million dollars. I was more like eight nine hundred thousand nine hundred thousand to a million dollars over in cryptocurrency to voyager digital and uh.

Then i wanted to send my cryptocurrency from voyager digital back to coinbase pro to do some trading, but i couldnt because i was limited to a 25 000 per transaction limit, so kind of frustrated. By that im. Sorry per transaction is 250 000. You could trade 250. 000 within voyager, but if you want to withdraw from voyager to trade because they make their fees on their massive spreads at voyager, you can only withdraw 25 000 at a time. So its very, very disappointed about that uh, not happy. I feel, like i kind of got chinese handcuffed where it was easy to go in hard to go out right. I dont like that, but anyway, obviously a spot etf would make a lot of cryptocurrency trading and speculating a lot easier. We would expect massive inflows into the market, and the market has recently been pushing cryptocurrencies to new highs in anticipation of an etf getting approved, but the sec has essentially thrown up its hands, suggesting that they dont believe that a regulatory agency or or a self regulating Agency, like uh exchanges or whatever will be able to prove that a spot etf will not be manipulated or used for fraudulent purposes until theres, some form of new law or legal framework and the sec cant create that new law or new framework congress has to do It so we might actually be waiting for congress to act on a bitcoin etf and, quite frankly, i think, before congress reacts on a bitcoin.

Etf were probably going to end up seeing cryptocurrency regulation on stable coins, which could potentially be short term fud uh, followed by then hopefully uh regulatory action on an actual etf, a spot etf. Remember. A spot etf would track pricing for bitcoin much more closely compared to a futures etf, which we have now, which came out with a lot of fanfare uh. You know over weve got billions of dollars in assets under management and some of these futures etfs, but these are these – are dangerous. These are expensive, youre, probably bloombergs, estimating youre, probably looking at 10 in annual fees uh just because of backwardation and contango uh and and the way uh futures contracts, roll uh and uh youre pretty much getting a bad shake a bad deal if youre buying the bitcoin Futures etf to buy and huddle it, of course, if youre interested in buying and hodling. In my opinion, the best thing to do is just buy coin and huddle it. I am a cryptocurrency trader, i very im very, very passionate about trading and when i see momentum going in a certain direction i like to trade anytime, i do trade. I send alerts whether its in stocks uh its in options or its in cryptocurrency. I anytime, i trade. I send notifications in my stocks and psychology money group which remember you could use the black friday coupon code link down below for that uh and generally, i am looking for trades on a day to a week basis for my trades so somewhere in that range, where Im looking to do trades between, i would say, 1 to 14 days, is usually where i like to trade im, not much of a day trader so intraday, i generally dont trade, so im not spending too much time on the one or five minute candlesticks im generally.

Looking at longer trends and trying to capitalize on those and longer support trends uh, so it just kind of gives you a little bit about my personality. Uh for trading now also bear in mind. I only trade with about uh, the latter five percent of my portfolio. I like to keep a lot of my portfolio in long high conviction plays that i have very long high conviction plays that i have are going to be things like enphase etsy, tesla affirm, whatever these are very long. High conviction plays uh its soon to be nvidia. When i can buy that darn thing on a dip. Weve only got a small portion of my portfolio in nvidia, and i wish i had more, but im going to wait for a dip to buy uh with cryptocurrency cryptocurrency is a pure trading tool for me. I love it. I believe in blockchain long run uh substantially, but uh, but i do regularly trade crypto, so i enjoy that, but anyway uh this uh. This gives you a little bit of insight into uh whats going on. I do believe that uh, it is very possible that were were going to see this 54 000 number. If i had to put odds on it, you know, if i looked into my crystal ball and i had to put odds on this, i would probably say that uh we have a good chance of hanging out at 58 for uh for for some period of time.

Before breaking down to 54. odds of breaking down to 54, i would say probably somewhere around 70 percent, so thats kind of looking at my crystal ball and roulette table, probably about 70 that were gon na go to 54.. I would probably only estimate that were around 20 chance of actually falling down to 47, though thats possible, depending on how we, how we end up trading over here at 54., uh and and probably only about a five percent chance that we revisit the 30s within the Next, probably within this year, so i would say within the next six weeks, a substantial chance of revisiting 54 much smaller chance of revisiting uh, some of the the lower numbers here, thats just my belief. I do think that there is, though, out of that you know if 70 chance of going to 54, i do think theres, probably a 20 chance uh, that we that we end up back over 60, 000 and stabilizing over there. Maybe five percent chance that we just end up channeling somewhere in between here those are just sort of my beliefs. I do think well end up going in one of these directions. Well, either get back to 60 and above that, uh or or well go to 54k. So there, if you believe that were going to go down to 54k, there could be an opportunity to sell your cryptocurrency investments and rebuy them. Though remember this does carry significant risk that you could end up missing a sudden, breakout so uh that that is something you have to be aware of.

When youre a trader, you can miss breakouts. That is the nature of trading so uh. These are some of my thoughts. Uh, i will say, uh voyager digital has uh ran substantially. I am completely out of voyager digital, its worth noting that uh again anytime, i send a buy, sell alerts. I send them in the stocks in psychology when any group like down below but uh. I do believe that one of the reasons voyager ran substantially was on shiba inu momentum, because you could buy sheep on voyager when you couldnt buy it anywhere else uh. I am still very optimistic about voyagers uh coinify partnership. I i still havent made a video diving into directly. Why im bullish on that? But i am still frustrated by some elements of voyager that ive been experiencing over the last couple days, specifically limits on being able to transfer out and and relatively slow customer service to potentially extending my limits, as well as very high spreads. When youre buying and selling so if you all of a sudden want to pop into voyager and youre like oh, i want to sell because youre you want to trade your stock, because you, you youre, paying large fees. If you want to get back to coinbase po pro youve got a problem. So if you are a trader, youre, probably best hanging out uh on coinbase pro or uh – and i know this pisses a lot of people off and they roll their eyes at this.

But honestly, if youre a trader – and you want literally the best fees and you do not care about staking or actually having your keys, uh and youre just speculating robin hood – i know that sounds nuts and ill probably get chastised in the comments for that, but they Beat everyones fees and im not trying to shell robin hood uh im, not very happy with robin hood. I have a lot of disappointments for robin hood. If i were robin hood, i would be doing things very, very differently. Uh. But again, i do think there is a very short term, a trading opportunity here in crypto im bullish on crypto for the first part of 2020. uh. I will be tracking inflation expectations, though, and inflation results, because i do think that once inflation expectations wane uh, there is going to be some selling pressure on crypto. However, we may have rallied substantially before we ever even get to that point so anyway. These are some of my thoughts on crypto the market check out the black friday coupon code down below and folks.

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