Let out a collective tier of what would have and could have been and theres. Not one thing on these charts: that is absolutely insane. There is literally too many to count, but what do they mean now and when will the dumping stop? Give your grandma a big fat wet sloppy, kiss right on her lips, because if you trade crypto, she might be the only one left on the planet that still loves. You im your host scoots magoo and there comes a time in every moonboys life when he must look himself herself or themselves in the mirror and ask did i do the right thing? Did i buy the dip, or am i just gambling, so we use a new channel to hit that like subscribe, share this videos, notifications, never miss these absolute time, sensitive alerts as well, if you guys are interested in amazing deals or bonuses, my goodness, if youve been Shorting bitcoin over the past eight months, youve, basically only made money as bitcoin has only gone straight down absolutely gigantic and as well. If you are staking your ada, make sure to join our pool to earn rewards. Not gon na spend too much time on this because there are a trillion things going on in this market right now and um. Basically, every second is exhilarating, finally, were seeing some excitement. It just so happens that the excitement is pain and sadness without any further ado lets keep getting dumped on unbelievably dumpy.

The big question now is: has bitcoin set a bottom as at this? Very second bitcoin has gone all the way down to 22 500, which is uh so far on the daily bitcoin has experienced a over a roughly about a 15 dump. After already dumping um i mean cataclysmically over the past few months and um i mean i dont. Even know where to start theres, so many things so, first of all, we can take a look at the dxy which is uh just again, actually so far, not really not really broken out of this range, but retest it again uh what we saw back exactly a Month ago, actually, on may 13th 2022. Today is june 13th uh, where we kind of topped out right at this level. The question now is, you know: is the dxy going to start exploding here, im kind of surprised that it hasnt already thats im kind of surprised that it hasnt considering so many things, but the bigger question is you know? Why is bitcoin dumping? When will it stop and again theres more than one answer to this uh? So, first of all again we can take a look here, the spx – and we saw this. We knew this was coming hours ago, as we saw the the futures market uh. You can see this massive gap here with spx just getting completely dumped on the spx is down. I mean an insane amount in just like the last week.

The fact that the spx is down uh 10 in, like the last four days guys this i mean what is this crypto? Is this like a? Is this like a rug, pull altcoin its the spx, its the s? P 500. I mean its down cataclysmically uh, its down so much um, so thats one thing but um. If we look at bitcoin on the weekly chart, this is where theres, the smallest amount of hope. The 200 weekly moving average is basically what many people have been calling as the ultimate bottom of the bear market as a necessity considering we touched there and broke below it back in march of 2020, which started the massive crash. I remember watching this live and um. You know that was an experience and so far watching this dump is pretty similar except its been much longer dumping and pretty straight down dumping as well uh, but remember the bottom that was marked in december of 2018 of the bear market. Ultimately, for bitcoin was a little, you know right around three thousand dollars per bitcoin, and that was right on the 200 weekly moving average, where at this second weve now weve now touched this uh. If we go to this chart, i mean, if you zoom in really closely, i mean again, we we kind of just bounced right off of this level, its like a hundred dollars off, but its literally right at that level. There so uh, but the other big thing about this is we just talked about those two other macro bottoms one, the crash which is again fundamentally because of again stocks crashing also which brought bitcoin down.

But this right here was specifically more bitcoin bottoming in the bear market and uh. You know this this 200 week, moving average is kind of like the ultimate dumpy indicator, but what we just saw as well is this: the weekly rsi uh is actually currently lower than it was both back in the 2020 crash and also back at the very bottom Of the bear market of 2018, the weekly rsi has gone below both of those. So realistically i mean how much selling can there be, because bitcoin has already been dumping for the past eight months. Realistically, how much more and again im not gon na sit here and say that we cant keep dumping because every time anyone said that over the past eight months it keeps dumping so uh. You know i i cant be saying that i dont think anyone should be saying that at this point, however, uh all were saying right now is basically were breaking records in terms of dumpiness, but you know at this very second: it looks as though we are seeing The smallest little baby bounce, because that seems to be all we get these days with bitcoin over the past eight months – is only baby, bounces um. But again you see this kind of wick wicking a little back up here right around fifteen hundred dollars up in just the last few minutes because of this balance at twenty 22.5, roughly um, so thats big but again, theres something i want to look at a few Things here so uh bitcoin, everyone is looking for a bottom here and i think rec capital had a really good point here.

Is that bitcoin tends to wick uh significantly below the 200 week moving average but kind of bottom around there. So a minus 14 wick. This time around would translate to a roughly 19 000 bitcoin and the 28 wick would be around 15.5, which hes saying is kind of like the ultimate low uh and again. I think at this point its reasonable to expect that we could see a massive wick down to those levels, as these wicks tend to do um. Now again that doesnt mean you know. If we look on this weekly chart, wix like we saw back in 2020 and uh, you know even right here, like a giant wick like this and um, really in 2018, there wasnt quite a big, quite as big of a wick immediately, but there was some pretty Big wicks there basically uh this. This massive crash we saw in march 2020 was about a 28 wick to the downside below the 200 week. So again, basically what he did right there is just did this and went down 28, and that would take us to our target again at the very lowest of around 15 000. If that were to happen. So another thing that i think is important to note is that we saw ethereum break below the highs that it set in the last bull market a couple of days ago, and now its actually, you know significantly even below those highs. If we look at ethereum uh, we look at ethereum right here.

These were the highs, go all the way back highs of 2018 and were now below that so uh. The point of talking about that is that, at this point i think its fair to say that the model is broken in terms of like uh. This whole idea that bitcoin can never go below previous all time highs because ethereum just did it now again. Bitcoin is different, bitcoins, more significant, its its obviously different than the altcoins, but uh. I think its fair to say that the current environment, the macro environment, macroeconomic environment, lends itself to breaking some of these models and uh. At this point, can we go below 20 000? It looks as though it would be silly to say we cant uh, you know in a quick wick, i dont think were going to be like trading below 20 000 for months and months. Obviously, but again nobody really knows er, but a stronger balance that the stronger the bounce we see today, the more confidence we can see in this market and um again, we still have this small bounce, continuing im recording. Basically, in my opinion, what i think will be like the middle of this bounce. I think its literally going to be bouncing today, but um yeah still theres, no signs that this markets reversing and guys i mean realistically, if the spx does not bounce, then its silly to say that bitcoins going to pump uh its just its just very unlikely um.

Really every bitcoin analysis can be summed up over the last few months as um its following the stock market, its not just bitcoin. It is its the entire, its basically everything um, everything is getting dumped on and um again were right at the cusp uh. Luckily, its not going to be boring right now because were going to get the ultimate decision to see if the dxy breaks out of this range, which again im still shocked that it hasnt see if it breaks out of this range and to see how far the Spx can fall uh how far the stock market can fall and also one thing adding to all this im. Sure many of you know, but tether also released. That celsius is not. It will not have an impact on usdt im. Sure many of you aware of celsius and its basic collapse right its another luna 2.0, but here it is with celsius. Again i didnt. I never promoted that, and i didnt have any money in that either um, just like i didnt with luna, but i think its fair to say that any of these platforms promising you know 10 15, 20 returns just by doing that, its not very its its probably Going to collapse, i mean at this point especially the the longer the bear market goes on, and i hope that you know in the future. People learn that thats, probably not a great idea to keep doing that.

But again, this is really the big moment. Weve really exacerbated this run were down at the 200 week moving average. This is where we see if we actually get a bounce or if we just continue sliding into oblivion. New channel, make sure to hit that like subscribe. Turn on those notifications, dont miss these absolute time since it alerts as well guys youre interested in bonuses or deals make sure to check out everything below um. Remember youre. Still we actually are distributing ape society tokens you can receive them through drip drop, but if youre staked in the pool you are receiving them for the next itll be for about 35 epochs. So you have about six months to receive these tokens and the earlier stake. You stake your eta, the more uh youll earn thats.