Crypto, It’s Over…
My name is lark. I make videos talking about cryptocurrency investing if you like that top little whack on the thumbs up button to. Let me know that would be super freaking awesome by the way. Every single week, my team and i make wealth mastery its a cryptocurrency investor report. We talk about all kinds of stuff happening in crypto from d5 to nfts and much much more. You can sign up for free, great price free, especially in these current markets. Down below using the link in description now lets talk about the markets. First, i want to start off here with bitcoin. You can see its been a crazy 24 hours for the markets. Bitcoin got down to 25 375 dollars over here on coinbase. Now we have, since rebounded were currently trading over 30 000, which is obviously awesome. Buyers stepped up in a serious way. This is what this candle right here is telling us buyers stepped up. Bitcoin went under 30k went under 28k, which was the big line in the sand for a lot of people and people bought people bought. We closed our daily candle back in our key area of support here, big wick under, but it got bought up very very quickly by enthusiastic buyers who, in spite of the fear in the market, came in clicked on the buy button. We had some very solid volume. Yesterday, as well, basically, four days straight of very large rising volume, the largest volume days weve, seen in 18 months, basically so pretty cool to see that happening now, our oversold reading here on the rsi is actually starting to come back into the not oversold region.
So we had about four days of oversold price action. Obviously peaking out yesterday now were coming back up in here. So was yesterday our capitulation event for the cryptocurrency markets, that is to say, was that the big final puke out now we can maybe start talking about some recovery coming in to the markets, its definitely possible. We did have the volume coming in. We had buyers stepping up in this region – weve of course seen reversal on the rsi here, but we do have to keep in mind for the next days weeks and even months. Moving forward were not out of the woods yet theres, still a lot of craziness going on. We have the coming uh likelihood of a recession. We have you know the next inflation uh data to come out, for you know, may in a months time right have we gone back down are? Did we really hit peak inflation if the inflation numbers go back up, manny, better bet that the markets are not going to like that at all, so theres still lots of risks in the market whats going to continue happening with the war in ukraine, etc, etc. So, just so youre aware theres still lots of uncertainty in the markets. Right now also take a quick look here at the ethereum pairing, because ethereum got right down there as well to a very major line of price support. So we can see here. This is the ethereum chart.
Look at this. We got right down just just kissed: it perfectly beautiful its a beautiful, beautiful touch of the line of support here for ethereum, so you can see thats all the way back to this key area of support here from mid last year, came right down touched. It 1700 bucks boom back up over 2000, all in the space of 24 hours, man and, of course, also ethereum. Now, returning from oversold into the more normal uh area, where the rsi floats around for ethereum. So definitely an action packed 24 hours for the cryptocurrency markets. With big sell offs happening, big buying opportunities for those who had cash, not stuck in usd who had cash, who had the ability to actually come in here and buy up this dip when it happened? That being said, spot buyers were definitely the ones who have benefited. The most over the last couple of days, because the liquidations in the crypto market have been absolutely freaking massive look at this chart here, huge huge liquidations, billions and billions of dollars liquidated from futures traders over the last four days. Look there are times when its. You know interesting to trade futures, and there are times when youre, just getting chopped up and chopped up and chopped up last four days have been a chop chop chop scenario. So do stay safe out there guys you dont, need to be trying to catch every move in this market right now. People are getting mangled in this price action trying to take on leverage to trade.
This very choppy very volatile market right now, so be careful right. Leverage is a tool, something that can be useful in the right time. Now is a time when well its causing a bit of chaos for peoples. Uh trading accounts so do be careful guys now lets talk about luna real fast, because im just im blown away, im blown away lets lets all take a moment of silence, and just you know, pour one out for the luna holders its rough man, its rough. You know ive been posting on twitter today and a lot of people, i think, were stuck in a state of denial about the death spiral of uh luna and people just kept buying the dip im buying the dip and buying the dip. And you know i watched it today go down from eight cents this morning. Was it something like that now it is at theres five zeros there zero point: zero, zero, zero, zero, zero three cents is what it got down to man. This is insanity. This is one of the fastest and most insane collapses of a cryptocurrency ive ever seen. In my time here i mean even bitconnect gosh darn man wow. This is just absolute crazy. Lunas now been delisted from a lot of major exchanges. Theyve turned off the blockchain, the ust stablecoins worth uh, 10 or 15 cents. The last time that i looked at it, its just a bad bad situation. I really hope that you managed to get out if you didnt get out, ah im, sorry its its just rough theres, nothing good to say about what happened to luna, about what happened to ust and if you got caught holding that bag ouch.
I just hope at least you can take it as a tax write off, maybe theres a silver lining there for you, i hope anyway, but man. This drama has just really weighed very heavily on the market, in fact its so crazy. Yesterday we actually saw usd starting to de peg as well at the height of the craziness. Yesterday you know the p. The fears started going well, maybe all stable coins are going to go down and people started doing a run on usdc, which didnt last very long. It bounced right back, but man, it was just intense total craziness in the markets over the last 24 hours, which makes me really feel like that could have been a capitulation day for the market. We talk about this capitulation moment for the markets as something where basically, prices plummet right across the board. Massive liquidations, huge volume and ridiculous fear sentiment, which i think is exactly what we had over the last 24 hours. The fear, the panic on social media that ive been seeing without a doubt has been there. Perhaps that was our capitulation yesterday again theres a lot of uncertainty in the market and i dont want to you know, say that was the bottom, the bottoms in for sure. I know everybody wants to think about. Bear bottoms, you perverts. What are you doing? Look at this bears butt come on. Man come on, look bear market bottoms. If we look at the uh rsi here, this is the one month chart for bitcoin weve seen bear market bottoms on the rsi level, coming very close to where we are right now now its not to say that definitively the rsi has to go down and touch This orange line – it could be enough where we are right now, but it could come down to touch that orange line just so.
You know that is where the rsi has bottomed out on the monthly charts at the bottoms of the last two major bear cycles for bitcoin. So that is something to consider. You can see also here that the covid crash were basically down just below the coved crash. In the monthly rsi, but not as low as the bottoms of 2018 or the bottom of late, 2014 early 2015.. So we could still come a bit lower, but again were at a level where you can really start looking at this, and thinking was that it was that the bottom has the market. Finally, capitulated did all the panic sellers finally run and get out of their bitcoin. Well, maybe maybe ill just move move myself around a little bit here: bitcoin supply on exchanges, spiked big time yesterday, which, if you ask me, indicates that a lot of people have been sitting on their bitcoin for a long time. Finally, capitulated and panic sold. It happens. It happens, people you know, sell for a lot of reasons and fear and panic tend to be one of the common reasons, and you know for some people that was the right call for others. It wasnt but thats what happened, and so seeing that kind of exchange inflow of bitcoin shows a lot of people did capitulate on their positions. Also, we can see this here. The bitcoin net unrealized profit loss chart is only actually down to the fear level.
We havent actually got down to a capitulation point on this particular chart, even with all that crazy price action, we didnt get down to a capitulation on this, not to say that it has to. We dont have to reach the capitulation area on the knuckle chart in order for us to say, yeah weve had a market uh, you know capitulation event right, so we did get that on the on the covid crash. But then, on the flip side, we didnt get um the covid crash to bring the monthly rsi that far down, so you do get. You know you cant look at any one particular chart and say well. This is definitively saying that we have hit our capitulation moment here for the markets also very interesting to share you this with you from uh the real plan c. This is the confluence floor model for bitcoin, so it actually came down yesterday. You can see right here to touch this red line. The last times that happened, covered crash 2018 bear market bottom and previously late, uh 2014 early 2015 bear market bottom, so its only touched a few times and every time that it has touched, which it just did yesterday marked a capitulation on the market marked a bear Market bottom again, lots of uncertainty, rendering crazy times of the macroeconomic scene, et cetera, et cetera, but that is interesting to consider isnt it interesting to consider we did also. I want to point this out just so you understand things could get worse before they get better.
Im, not an oracle. At the end of the day, i just im an investor. When i see things on sale, i invest in them. I try to take profits when the markets are pumping, so you know make sure i dont take on too much risk, etc, etc, etc. Right right now, what are we seeing? We are seeing a breakout for the dollar index, so the dxy is breaking out. Remember were talking today well if this goes down, then that should be good for bitcoin and the stocks and all that stuff. Well, it didnt go down. It broke out. It broke out past this major line of resistance from 2017., so the dollar index breaking out bad for stocks, bad for crypto. Basically, this is showing a flight to safety. Everybody wants to get into dollars, theyre, pushing the dollars up, getting the heck out of everything else. Right now, showing again a state of fear in the market, its not just us crypto investors, stocks are getting slaughtered as well. Oh man, some of my stocks are down a lot. Some of them look like coins man, its crazy, its crazy stocks, man thats, fun, stuff too uh anyway. Final thought for todays video, then were gon na finish it up. Look almost nobody is going to perfectly by the bottom and almost no ones perfectly going to call the bottom either. Oh sure in hindsight, someones gon na get it right and then theyll spend five years telling us about it.
But the most important thing is not to perfectly time the bottom you dont need to. This is a fallacy. A lot of investors get stuck into their head. You dont need to perfectly time the bottom in order to do extremely well in these markets and look, i know right now. Everythings down your stocks are down, your metals are down your housing. Prices are down your cryptos destroyed if youre in dollars, youre losing eight percent. A year, everything is getting totally destroyed right now, its just a massacre across the investment space, but during these times, opportunities start to present themselves. The people who can afford to buy during this time are going to do very, very well. In the long term, you dont need to perfectly time the bottom, but you can definitely look at markets and see when they are down. You can start cost averaging and look that doesnt mean you have to buy today. Doesnt mean you have to buy here. If you have the cash on hand and thats something youre willing to do well its up to you, you can also wait for the markets to show more strength before buying back into positions. Thats. Also something to consider one thing i would say is that selling here and then trying to buy back lower is much less of a risk reward calculation compared to buying in these zones, ive been buying, ive told you, ive been buying, ive been buying, bitcoin ive been Buying aetherium, i bought a little bit of trader joe as well.
The joe coyne have been crazy about buying that recently, but thats about it right, uh from the more speculative altcoins. Well, i will be keeping an eye on those see the market showing a bit of strength before uh, looking to pile back into any of that kind of stuff, but averaging in a bitcoin averaging into ethereum during this period in the market. I think its gon na play out very very well for investors during our next bull cycle whenever the heck that is going to be anyway, just my two satoshis for the day you, let me know your thoughts on any of this stuff down below.