Whats up everyone randall here from crypto love, todays video. You are not going to like this video ill, just be upfront with you in the beginning, if you like, hopium videos, this isnt one, but that being said, i think, if you can adjust your time frame instead of this year, think five ten years in the future, Youll be doing much better off, but in todays video we do have a lot of stuff to cover were talking about, bitcoin were talking about tara luna and before we get into it guys make sure to like subscribe click. The notification bell come join us over on twitter at the crypto lover every day we share some of the best charts in bitcoin and cryptocurrencies push the like button. Lets try and get to a thousand likes now today, extreme fear, 12. same as yesterday, we are at 10 the day before that im surprised were not at 10 or lower today, because the overall market down almost 14 today bitcoin at 28, 653 ethereum at and eleven Dollars bnb at 257, xrp at 38 cents, cardano, 47 cents, solana, 46 and dogecoin at eight cents and guys, while the markets are tanking, some people are selling. Some people are hodling if youre, not selling or even if youre considering selling you may want to do what smart money does and borrow against your assets instead of selling them right now on celsius, you can borrow starting at 0.1 percent apr, not only that, but if You just transfer crypto to be held with celsius.

You can earn up to 70 apy and right now for transferring crypto to celsius. You can get up to 5 000 in free crypto. So all that being said definitely worth checking it out. There is a link down in the description, big news today: tara luna crashed take a look at this. This is probably aside from bit connect, which was clearly a scam. I think this is the worst chart ive ever ever ever seen in cryptocurrency. Take a look at this okay. In the beginning of april, it was trading at 120 – okay, not even two months later trading at oh, what is it 50 cents, 50 cents thats insane im? Sorry for all of you, tara luna holders out there that sucks really bad, not only that, but their usd peg has not worked terra usd guess what 67 cents take a look at this at one point. Last week it was down to what 20 20 some cents on the dollar 29 cents on the dollar thats, not a very good peg, and what i think caused a lot of this crash was the terra luna foundation. If we take a look here, they were buying up bitcoin. Okay, we enjoy michael saylor buying bitcoin, because hes never selling, tara, luna, buys bitcoin and then crashes the entire market, as they just sold all of it over the past few days. As a matter of fact, hodlers capitulated in the last 24 hours, which was led by future selling.

We can see the future sell off down here. Hodler sell off afterwards, as the price is coming down and the bitcoin liquid supply shock has clipped. So we can see dropped dramatically. Supply shock is a ratio of coins held by hodlers versus non hollers. Roughly 84 000 bitcoin moved away from hodlers. A big contributor was 43.5 000 bitcoin moving out of the luna foundation wallet. So, if youre looking for a scapegoat for this pretty much tara, luna and tara luna foundation caused this massive panic and crash. That being said, is it the bottom or could it get much worse me personally, okay, now take this for what you will. I am not a financial genius. I just make youtube videos this isnt financial advice, but me personally ive been saying when bitcoin goes below this red line. I turn bearish and if we take a look here, bitcoin went below that red line. That means that i am bearish right now, how long one to two years and ill explain why coming up in a little bit, but right now, bitcoin has broken every support structure there is it broke this flag right here about a week ago it broke the 100 Weekly moving average as well, it also broke multi year. Support. Look at this multi year support! Well, it broke that as well and it broke what was previously bottom right now forming the golden arches pattern: okay, those of you who eat mcdonalds or who may have to start working there.

You can see. This is a double bottom right here. It broke that meaning theres a 97 chance going down to 15 000. Now, will it no definitely on because we had a double bottom right here. This is a double top pattern. We had a double bottom right here that was supposed to go up and it didnt. So theres a three percent chance it wont, but there is a 97 chance. It will go down there. So that being said, things arent looking very good for bitcoin and cryptocurrencies right now. Is this a surprise nah? Not really. We had some warnings. We had the plan for the plan c confluence floor model we were talking about. We also had this from nunya business back at forty thousand dollars, saying hey likely going down fifty percent to twenty thousand dollars, so we knew that stuff was coming. Also, if we take a look at cbbi.info were not at the peak. That means you can buy cheap bitcoin, but if we take a look right here, the last time that bitcoin was at 24 on the way down. Well, guess what, after that, it crashed by about 50 percent! Okay went from 7 000 to 3 000., not only that the time before that, when it was 24 on the way down. Well guess what price crashed by about 50? So we could be seeing another 50 price crash, also back here on the way down: 24 guess what crash another 15.

So all of those indicators saying hey! Potentially, we may see an even bigger price crash, which brings me to this, which is pretty darn curious. So william clemente says what kind of sorcery is this, and this may be photoshopped, because i didnt actually go to this persons twitter profile and take a look for it. So you know, do your own research, but this person back in 2021 called may 16th and july 25th. If we go back there to 2021 may 16th and july 25th, so may 16th bottom right there july 25th bottom right there. They call the two bottoms in 2021., not only that, but they said may 10th and october 28th. If we take a look, may 10th boom pretty much bottom. Could they potentially be calling the bottoms and may we say, may we see another bottom in october coming up? Who knows, but over the long run overall? What i would like to say is: yes things suck right now, but if we take a look at times when weve previously broken the hundred weekly moving averages blue line, this lasted for six months. The time before it lasted for 12 months, this time lasted for about a month. So if you add those three together, thats 1, 6 and 12, which is 19 divided by three roughly six months, we could look for whatever is going to happen before the market recovers because bear markets while they suck and while the markets bleed out and all cryptocurrencies.

All go to zero, except for bitcoin, and maybe some super large ones. Well, it eventually comes back, not everything, clearly, not everything, but some things do come back. So that being said, that brings me to the little happy ending that i can give you today is that if we take a look at the bitcoin rainbow price chart, guess what we are in buy territory? Hey all you guys who, at the top at sixty thousand seventy thousand dollars, are saying man. If bitcoin was thirty thousand dollars, i would totally buy it again. Thats never gon na happen, guess what it happened. We are in buy territory, so this is like the best time to accumulate bitcoin and legit all coins, because uh look what happens to some other all coins that arent so legit. They were not legit enough. They were not too legit to quit. So i will stop there because im definitely too legit to quit uh, that is all for todays video bummer of a market. For everybody me personally, my general feeling is yes. The next six months are probably gon na suck its probably gon na take a year to two for the market to recover, but when it does, things tend to go up so thats all for todays episode, if you did enjoy it, make sure to like subscribe click.

https://www.youtube.com/watch?v=cReV35VPOs0