Whats up everyone randall here from crypto love, todays video were talking about this bitcoin and cryptocurrency crash. Why? This is not the bottom, but also some reasons why it very well might be. We have very good cases for both of them in todays episode before we get into it guys make sure to like subscribe click. The notification bell come join us over on twitter at the crypto love, where every day we share some of the best charts in bitcoin and cryptocurrencies just push the like button. Lets try and get to a thousand likes to begin with today. Extreme fear, 12 higher than yesterday the markets havent fallen completely. I mean they stopped around thirty thousand dollars, but still in extreme fear, overall down seven percent for the day, bitcoin at thirty thousand, eight hundred and eighty ethereum at twenty three thirty six bnb at 305, xrp, 50 cents, solana, 63, cardano, 61 cents, dogecoin at 10 cents And if you want to know the top coins today to hold two outpace just holding bitcoin alone as a matter of fact, theyre up over 500 on kucoin, the top coins today would be unifti, pluton, tron, wirex and e money. And if you want to check this out, for yourself, add some lower caps for higher risk, but potentially much higher reward. There is a link down in the description not only that, while youre down there, instead of selling your crypto in this bear market, you could do what smart money does and borrow against your cryptocurrency, starting at only 0.

1 percent by using celsius. Not only that, but while transferring crypto to your celsius account now, you can earn up to 5 000 in rewards free crypto, while you earn up to 17 on your assets held in celsius. So definitely, instead of selling you may want to check out celsius. There is a link down in the description and last little thing guys. If you have some bear market blues, you might want to listen to this episode from not crypto advice. Podcast ive been listening to this podcast recently. It is extremely high quality and entertaining, and it definitely gave me a new perspective with these bear market blues, so ill post a link to that down in the description check it out for yourself, listen while youre driving its great for that now today, guys i have To say that i am getting exceptionally bearish on bitcoin me personally, im a purple long term permabull, but the next one to two years could be a little bit painful, now heres. Why well, first, off before i show you anything else, i just want to point out where we landed on. We found support on the 1.618 fib. That was from the bottom here, 3000 to the top here at 20 000. You can see we bounced almost exactly off of that fib level. Now i want to erase those because theres too much going on with the fib levels, but we can see bitcoin is broken out of a few key support levels.

So first is this white trend line that we have been in since basically the beginning of 2021 over a year. Now that was somewhat bullish, consolidation! Well, we broke out of there not only that, but we also broke below the 100 weekly moving average. Only the fourth time bitcoins ever done that not only that, but this dashed white line right here. We this is multi year bitcoin support. You can see this many years, bitcoin support the only time we broke out of that was the brief covid crash and we have broken below that now. That being said, am i 100 bearish? No because ive had this red dashed line here for a very long time, saying that if bitcoin breaks below there, then i become bearish right where we are right now this wedge. This is like me in purgatory im like about to become bearish short term to medium term, but i am still always going to be a long term perma bull. Now, where could we potentially be headed because, like i said this is the fourth time we have broken below the 100 weekly moving average? The first time was right back here in december of 2014. The second time was right here in november of 2018, and the third time was a coveted crash march of 2020.. Now, if we plot out all of those lines where we are right now, guess what they all basically find a bottom right around 20 18 to 20 000, so that potentially could very well be a bottom, basically bouncing off the resistance we saw back here in november Or december of 2017, but not only that we also could potentially be heading up to the hundred thousand dollars to six hundred and fifty thousand dollars from the time frame of june of 2023 to april of 2025, so june 2023 thats still a year away.

So we still do have quite a bit of purgatory and waiting before anything happens. If what happened previously with bitcoin is going to rhyme with what is happening now now granted past performance cant predict future results, but it seems to me, like we have almost exactly the same thing. That happened here in 2017 happening right now, in almost the exact same time frame. As you can see here, we had a blow off top there. Now we didnt have a blow off top because we got wicked off. Okay, smart money came in wake this off and nobody got a happy ending with that one, but you can see we found support basically at the six thousand dollar area. For a long time, a lot of people thought six thousand dollars was the area because thats how much it cost a minor to mine, a bitcoin and then the bottom fell through the floor breaking below the 100 weekly moving average. Now, where we are with bitcoin right now, weve been finding support roughly around 30 000, because thats the average price that michael saylor pays for a bitcoin because thats the plan c confluence floor model, because all these other reasons why 30 000. But we might have bitcoin break through the floor to twenty thousand, maybe even to fifteen thousand dollars, because we do have a nice little double top forming here with a ninety seven percent chance going down to fifteen thousand if we break through the thirty thousand dollar level.

Now is this a surprise? No weve been talking about it for many months, thanks to the real plan c, if youre not following him on twitter, you should definitely go and follow him right now. Hes talked about this confluence 4 model. The previous three times we had a cross of the short term holder floor below the dormancy flow floor. Bitcoin price touched the dormancy flow floor. Well about 60 days ago, we had a cross and take a look at this bitcoin. Just bounced off of the dormancy flow floor yet again, four for four, pretty darn accurate indicator now previous times this was as low as bitcoin went. So hopefully this is as low as bitcoin goes, but theres no way to know for sure we just kind of had to be patient about this, because right now, past five years, weve had five bitcoin capitulation. Events ive been present for all of them. They have hurt a lot and, up until this most recent capitulation, i didnt really feel that we had felt a serious capitulation in the market where people were scared scared, but after having three capitulation events in one years time, yeah im starting to feel it too and Im sure all of you guys are, as a matter of fact, the most recent consolidation period was one of the biggest ones it was actually higher than the january 2022 crash, and this time three billion in bitcoin realized losses. Yesterday certainly looks like a different story.

Certainly looks like we are starting to feel some capitulation now, like i said, may continue to keep going, but it may not – and here is why? Because we have some evidence that could be suggesting we are towards the bottom now im, not saying that we are like. I said im literally on the verge of becoming short to medium term bearish, because if we break through this red level, here yeah likely were going down to the blue and hopefully well find support down there. Because if we dont it could look really really really ugly. But that being said, the bitcoin supply in profit, almost in green for only the fifth time in history, now take a look at the times. This was in hit in history, where the supply and profit was this low. Well, we had the covet crash. Okay, we also had the very bottom back in 2019.. We also had the very bottom back in 2015.. We also had the very bottom in 2012., so all these things would suggest we are in the very bottom now, not specifically the lowest price, but in the very bottom. Also here with ta analyst saying, bitcoin bull run signal for the third time in history. The monthly percent bandwidth, which is this blue area, is below the green level. 0.35. Each time we were in the bottom, a huge bull run, followed so take a look. We were below right here, guess what huge bull run.

We were below right here, guess what huge bull run we were below right here, so this could suggest that we are at the bottom right now, which would be a great time for stacking sets. Going on to this chart right here now entering the fourth time, weve broken below the logarithmic growth curve. Maybe this model finally breaks after a decade, but traditionally its a stack sat signal. Every time the bitcoin is broken below the logarithmic growth curve, great time to stack sas great time to plop some money into bitcoin and buy some up while it is still cheap, so well kind of all have to see whats going on. But all i can say guys is that, yes, it hurts when the price goes down, especially if you lose money. Thats, like its like getting punched in the gut but heres the thing you just put on your big boy or big girl, hottle pants, you huddle through it and then next time this happens when everybodys like oh, i wish i would have bought when it was. Thirty thousand dollars you could be like yeah. I made it through that now that bitcoins three hundred thousand dollars or three million dollars, i dont care that youre complaining that its this expensive so thats, all that happens with todays episode if you did enjoy it, make sure to like subscribe click. The notification bell make sure to check out tokenmetrics and also celsius, and also the not crypto advice podcast down in the description.

I will catch.

https://www.youtube.com/watch?v=9cNfHsxqPZY