This Is What I'm Doing After The Crypto Crash
Today. I think there is a lot of emotion running around in the market and it really is feeling as if we are now approaching that point where, where we are at max fear, ive been saying for the last kind of two or three months that it makes sense. Based on a narrative that i was forming in my mind in terms of how long we would be at certain price levels and how long how long it would take for us to then drop down and what that would feel like. And it was my opinion that we would be reaching down in the single figures on the fear and greed index, which only if we look at the maximum scale on the fear and greed index happens very rarely. The lowest, fearing greed index weve ever seen, has been five and you know theres estimations out there. It makes sense to think that a fear and greed index of seven might come in after todays action that with a narrative makes sense. But there are positives out of all of this and im gon na get to the positives at the end. But the main thing that people are looking at is this xrp number with xrp our lowest number, that we were looking for was 51 cents so 0.51247 on this chart. Specifically, that was including wix and with that is the lowest point that we were hoping to see with xrp and still remaining bullish. Now we have in fact breached that level and we have come further down.
There is a saving grace to all of this and on two counts really, but i want to first answer the questions that people are asking me. You know theyre saying: what do we do now? Do we be? The price has been breached? What do we do? I can only share what i will be doing right. I can only share what i personally would be doing. I i dont tell you what to do. I just show you what i am doing and my thought processes, but when i see the price for xrp falling below these levels and when i see bitcoin cash falling below the levels that we were looking for, and i combine that with the fact that this narrative Is going on that we havent yet seen a single digit, fear and greed index come in and the fact that we still havent breached the lows on bitcoin itself. The most important chart, the lows that were looking for for bitcoin, come here exactly at 29: 169.73. That on my chart is the low that were looking to not fall below, and so because of that, because we havent quite used reached the fear and greed index that i think a true reversal comes in and because we, yet we havent seen the reaction around these Lows for bitcoin, though, like the absolute minimums that were looking for for bitcoin. What im now doing is im waiting for a daily close on the other coins, its entirely possible that this wick is that that this candle today is just a wick to the downside and the price recovers and remains above 51 cents thats entirely possible.
But in the eventuality that xrp actually does stay down here lets say even continues to fall. What does that mean im doing? What am i doing in that instance? Well, if im to speak honestly and plainly, my coins are just staying where they are all that means for me. If these prices do breach, it just means the retracement up to the 702 level is just gon na take longer now the idea that we were seeing a alt season this year might be something that would be changed in that eventuality. So far, though, because bitcoin hasnt breached the levels to the downside that we are looking at, everything is actually still remaining to plan. Just means xrp has gone further down than we thought it means bitcoin. Cash has gone down further than we thought means. So many of the other altcoins have just gone down further than we thought, but the king of all charts the one we want to pay to pay our attention to is bitcoin and bitcoin hasnt yet hit those levels, and so ive always mentioned that you know when We see these points in the market where you get a peak in the market right here or you get a peak in the market right here. Theres, usually some event that happens, and that is light in the news. Theres always some event in the news that happens, that triggers this movement right and typically these movements happen just at the right times right in the fibonaccis.
These all happen, but the right times, but equally there was news at moments like this as well. Moments of a reversal in the market always had a moment a newsworthy moment that actually switched the narrative and thats something im expecting to happen around here for bitcoin its almost as if the altcoins are secondary. Obviously we had targets for these altcoins, but ultimately, bitcoin runs the show. Ive said this over and over and over bitcoin runs a show and until bitcoin breaches that level that i talked about 29 169.73. Until that happens, on a close of the day, everything is going to plan and thats thats the stance im, taking on everything right now, i understand things have gone further down than we expected. Things have gone down further than we thought just understand. Theres coins out there, like ethereum, still hasnt, breached the lows that we saw in january. Bitcoin hasnt breached the lows that we looked back on july 2021.. These are key numbers for these coins and at this point i think what we need to see a true reversal. In my opinion, this is only my opinion. I can only express my opinion is that we need to see that fear and greed index get to a point where were rarely at in this whole market and whenever weve hit those points. Those super low points in the fear and greed index. We have shot back up in a reversal thats. What were looking for something ive been looking for for a while.
The difficult part of it is in predicting that its very easy to kind of tell everyone. You know, i think, its going back to nine fear ingredients, but what actually happens in reality is that the the emotions surrounding a nine or an eight or a seven fear and greed index are insane. We have people all over this channel in the members community and in the comments saying that you know you can see them getting very, very angry angry at me. Of course, theres theres got to be a place to vent, and because i talk about it, a lot publicly, obviously im the one who gets blamed for a lot of things. And i understand that i do try to warn of the extreme emotions that we feel in these time periods right. Removing the emotion is so important thats why? I have a whole thing about no emotion, because i understand that when we get to these single figure, fear and greed, index figures and also up in the 90s fear and greed index figures, those times, people dont think straight yeah on the upside people, credit people who Didnt deserve to be credited and on the downside they blame people who didnt deserve to be blamed, um and so thats just the way it is its like people, dont act reasonably in these times, because its scary, i understand youve youve, got money invested and its scary Times because youve seen it just shoot down and its and for some coins like xrp and bitcoin cash, weve had levels and weve not just breached them.
Weve like fallen through them. So this they are scary times, and i completely understand it. I really do im right here with everyone in that, but understand that bitcoin is the king and until bitcoin does something on a daily close below that line. Everything is actually still going to plan. Yes, xrp hasnt gone to plan for this dip in the market, but my opinion about xrp, going up to the fibonacci extension levels still remains the same, just as i believe that xob that bitcoin will go up there anywhere between kind of 57 and 58 dollars, because This line hasnt been invalidated. Everything is still to plan the the fibonaccis on bitcoin cash. Still, a prediction: xrp those fibonaccis on xrp up there at 12. Nothings changed in that regard until bitcoin changes and bitcoin has not changed. So forgive me if that felt a little bit uh kind of preachy, but you have to understand also im not impervious to emotion either. I do try to lead the pack with no emotion, but when we do get down to these extreme levels of emotion, i also feel it, and i recognize that in myself, when i start to feel a bit of fear or i start to feel a bit of Panic and responsibility for everyone, even though thats not necessarily needed you know. I recognize that i have a higher tolerance for for these extreme emotions. So if i feel something, we really must be near max payne so ill be watching bitcoin like a hawk ill, be watching to see this level to make sure that this level doesnt get breached.
Im tweeting all of my updates and all of my thoughts. First onto the member zone, you can click join next to the subscribe button on a computer, especially today, the blue chip tier membership get my full thoughts. I write paragraphs in there about how im feeling about the market and then i go and condense all of that and put it on twitter. So if youre going you, if you want to go and follow my twitter to get my kind of live updates on on what im thinking and maybe a bit of humor here and there then go and follow me at its lewis jackson, i do believe theres. Some news coming today, or maybe tomorrow that is going to reverse this market. That is my personal belief. Ill, be like, i said, ill be watching this area right here. If we, if we do breach that line and it closes under that line, you know theres other discussions that well be having about you know the the time scale that were looking at. Maybe we do you know, just as just as ive said, i had 90 percent confidence in the fact that were going to go up and see this retracement up to the 702 to 666 range, and it was always 10 there to say that you know that might Not happen as we get into these more emotional zones. Obviously, that 10 feels larger, but i want to say, as a public announcement, my feeling that were going to breach way below that and not come up to the 702 is still a 10 allocation of my kind of worry right, im still 90, confident that we will See a retracement whether that retracement comes in way later than expected, or it just goes to plan as usual.
That doesnt make a difference to me. Um so regardless ill be holding onto all of my bags and if it means i have to wait a couple of years now for to get the retracement, you know thats thats the way it is, and that is crypto were in this. It is all a risk, but again i got 90 confidence that we will be seeing a bounce around this area above the line that were looking at and then well be heading up to the retracement levels. So ultimately, after all of that, i still dont think anythings changed. I know xrps fallen, i know bitcoin cash has fallen below the lines, but bitcoin rules and thats the one were following thanks for being patient and understanding. I really hope you get a good nights. Sleep tonight with all of the uh, with all of the emotion running around, maybe if you can stay up watch the fear and greed index switch over see if it does go to single figures. If you see it go to single figures, please do leave me a tweet or something because id love to see it its just something.