Im going to talk about everything you need to know im going to talk about the rate hikes. What you can expect for the next three to six months, im going to give you an update on celsius and another big danger still looming for us in the crypto space. So welcome back everybody. My name is christian, bringing you cryptocurrency videos every day and what a wild couple of days it has been here in the crypto space, and i appreciate everyone who watched my video yesterday im going to give you an update on what has been going on with the Ethereum whale so lets get straight into it, so first off on bitcoin right now you can see that we did manage to not break the orange box here at 20k. You can see that we have had a nice bounce in bitcoin, but you can see that we find resistance right now on this orange box and we are starting to roll over again now. Of course, it is expected that after such a huge drop as weve been seeing here recently, you are going to at some point have some kind of balance. Thats just nature. You cannot go down forever. At least you have to have some bounces in between, and this is the balance we are seeing right now, but i dont think that we are completely out of the woods yet now the market did react well to the news that um, the fed were raising the Rates by 75 points, and also what they said is that they think that they are going to have a problem actually managing inflation and that they may start to cut the rates again in 2024, which is actually where the next bitcoin having is going to be so 2024 theres a long way there and on between now and then i think that we are going to have some um yeah sideways action and volatility, but not major moves to the upside.

Yet i think that any big move you see in bitcoin in the near future is probably going to be used to um sell into. Unfortunately, this is what i believe now long term. Of course, bitcoin is going to continue to the upside. I think that bitcoin is going to breach its all time high um eventually, but for now i think that were going to consolidate and that we are not going to see some. You know crazy moves to the upside and if we do see a crazy move, you do know that the 30 000 level here is going to act as big resistance, but for now things are still looking decent for bitcoin, also on the weekly time frame. As you know, we do have the 200 week moving average right here, its currently supporting us. You can see this blue line. Can i change the color of this one? Maybe i make it another color later, but right now you can see that we find support right here. We found support right here as well and we did find support here. So this is a big and here as well. So this is a big moving average, which has never failed us so far. Is it going to fail us this time we dont know, but for now we know that this is a big support and it is you know, making a reaction in the bitcoin price, as we can expect here. Supporting the price at least short term now, ethereum has been going down and ethereum has been under a lot of pressure, and i did tell you yesterday that this big ethereum whale was in you know, big danger of being liquidated for 235 million dollars worth of ethereum.

Now the liquidation price was somewhere around 1014. I believe now. What we saw with the this whale is that the on some exchanges, the price, actually went below that level. So this is how close we were to seeing this whale being liquidated, which is completely insane. It would have had a massive effect on the market, but, as you know, on ave, where this position is, this is not a centralized exchange. This is actually a decentralized exchange which uses a chain link as an price oracle. So, even though the price did go down below the liquidation price on some exchanges on chain link, luckily, we did not go as low now chain link and the centralized exchanges. Of course they usually have exactly the same price. On this occasion it was just a couple of dollars above the liquidation price and this didnt update, and so the whale did not get liquidated and either the whale has deep pockets or someone did not want to see this being liquidated, of course, for everyone in the Crypto space, we did not want to see this way of being liquidated, but we are not out of the woods yet. Of course we can still see some downside now. The whale here has been paying off some um depth. So yesterday he had, i think, 85 million dollars in debt on usdt right now only 73 million. So this is a little bit more healthy today, but it seems like this whale.

Just has you know a liquidity crisis here, hes not able to pay off this debt because then he would never let this even get close to the danger of being liquidated, which we definitely was yesterday. So that was the situation with this position. Uh, the traditional markets have been seen a nice balance, although we are going down pretty severely right now, so this is not good, so we are almost at the point where we have erased the entirety of the gains. Since you know we found this bottom right here. So yeah this is not good and probably bitcoin is going down due to this as well. Yes, we are so we are going down. So we are keeping an eye on this, but you know, i think, that we are going to go. Sideways were going to continue to probably trend down, but luckily we did find some support here at the 20 000 level. Now. One thing i want to show you as well is this level is the same level. We had a swing high in the 2017 uh bull market. So if i add a little bit of a line right there, you can see that this is the level we found. You know the previous top at. So we are finding right now massive support at the previous all time high. So that is very interesting for bitcoin anything else. Yes, there is stable. Coins are falling sharply, so people are actually taking their money not into stable coins, but out of the crypto markets entirely, and this brings me to a big danger now, when i posted about luna when luna started to go down, i mean when it went down by, Like 20 30 im not talking about when it went down to zero, but when it started to go down by, like 30 40, a lot of people were buying the dip in luna.

I told you that luna is most likely going to go down to zero. A lot of people said that i shouldnt uh, you know post that i shouldnt talk like that because its spreading fud and its uh, you know making the price go down, but you need to understand my core thing. I cannot influence the market im too small of a youtuber im, not that big. I cannot influence the market, but im always going to give you my opinion im always going to try to give you the information which is potentially going to save you money in the crypto market. Okay, so obviously luna did go down to zero and then at the very bottom we did enter a nice trade for luna. We took some quick profit on that and then i said its gon na continue to go down which it did so. I dont think that luna is going to survive. I dont think that luna is ever going to make a comeback. Although you are potentially going to have uh, you know potential to make short trades on luna, but its not going back to one dollar its, not going back going back to anything like that, and then i posted about celsius. I said that celsius is most likely in deep, deep trouble and if you have money on celsius, you should probably withdraw that and people said you shouldnt say that, because you know youre spreading fud and whatnot and uh yeah celsius did you know completely implode.

We dont know if that is 100 the case. Maybe they find some way to get out of this, maybe not, but right now, im very cautious about tether, and with this this is probably not as likely as luna going down to zero or as likely as celsius imploding. The likelihood is even smaller, with tether, but still i wouldnt keep my money in tether right now. I am withdrawing all my money from tether im going into usdc. Now, if you look at tether right now, you can see that this used to be at 83 billion dollars in market cap. You can see that people are redeeming money like crazy and when was this at 83 million dollars? Was it like six months ago? No, it was like one month ago guys, one month ago, this was at 83 billion dollars in market cap. Now we are finding ourselves going down to uh where we are at right now, which is if i zoom in here whoops. Let me reset this so lets. Look at the last time period here you can see that the market cap is going down like crazy, so people are redeeming their tether for us dollars. They went from 83 billion down to right now, like yeah 70 billion dollars, so a big drop in just uh. You know one month so be cautious about tether guys, although its probably fine, but i am not taking that risk myself and also we havent, really seen the implications of luna going down and celsius going down in terms of regulation.

Yet that is going to come and what is that going to leave or where is that going to leave tether? I dont know guys im going to continue to update you so make sure to follow me and activate the bell and subscribe to the channel and make sure to join my team on buy bit. If you want to start trading, you are able to claim four thousand five hundred and thirty dollars over on buy bit as a deposit bonus. If you use my link right here, guys thats what i got for you.