We have some very interesting charts for bitcoin and also an update on whats going on with celsius. You definitely want to stay tuned Music, whats up everyone randall here from crypto love, todays video were talking about exactly whats, going on with bitcoin. Do we have to be feared, or is the bottom here and also well be taking a look at some celsius updates 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 push the like button. Lets get to a thousand likes now, third day of extreme fear, wow below 10 single digits. This doesnt happen too often, but being fearful when others are greeting greedies when others are fearful. I dont know how you take this kind of up to you: the overall market down a couple percent today: bitcoin at 21, 1′ ethereum, 1102 bnb at 220, cardano, 49 cents, uh xrp 33 sends solana, 31 and dogecoin back up into the top 10 at 5 cents. Now there is a really good thread here on the real plan: cs twitter, about whats really going on with celsius part one, the real story – allegedly. This is really whats happening with celsius. Now, im not gon na go through it, because its kind of lengthy – and i just dont have time in this episode to do it. But i would definitely recommend going over to plan cs twitter and reading the whole thing for yourself.

So you can have an idea. What is going on im just going to give you the tl, dr too long didnt read, had randall, read it to you of this, so just in as of this moment, celsius is not insolvent. Theyre dealing with liquidity issues from an opportunistic, coordinated attack that caused a bank run just in celsius, has lowered their liquidation level to 13.6 thousand dollars. Celsius is not a scam or a ponzi. However, they made two big mistakes: that, along with a coordinated attack, put them in this situation, one they never should have listed ust to the app or use the luna ecosystem to earn yield with ust and two less eth into the eth 2.0 contract. So that being said, that put them in this position where they are right now. But if you want to find out a lot more behind the story, particularly whos, behind this coordinated attack on celsius, you should go check out the real plan c on twitter and read up this whole thing. So you too could be in the know now with bitcoin. The knuckle my favorite thing, because it almost sounds like nipple, is finally in the capitulation zone for the first time since march of 2020, the net unrealized profit and loss when it gets down to these red levels. Historically, that is great by territory. We are down in the nupple red area for the first time since march of 2020, and we also have for the first time since marcia 20 bitcoin trading below its average cost basis.

Now the average cost basis is how much on average, all bitcoin owners have paid for their bitcoin right now. The realized price or the average cost basis is 23. 400 were trading below there for the first time since march of 2020, and if we take a look at just bitcoin across some other asset classes, we have a confirmed daily bearish divergence on the dollar. So we can see this going up here this going down here, a bearish divergence on the dollar, possibly also a double top forming and historically bitcoin has been inversely correlated to the dollar. So when the dollar goes up, bitcoin goes down when the dollar goes down. That means bitcoin goes up but thats, not all because we have some other charts that were saving for you as well. When we take a look at the bitcoin stock rsi model, the stochastic rsi historically been a moonshot launch pad for bitcoin stock. Rsi levels tend to stay in the red zone for 230 days on average. Within that time period bitcoin bear market. Bottoms are witnessed, so we can see here historically when we have these stock rsi levels of stochastic rsi levels. Well, thats generally. The bitcoin bottom here was 185 days 245 days, 265 days, 240 days, theyre predicting on average. That will put us right around to 20 23, which lines up with what i was saying in yesterdays video. How we probably wont, know until december, when exactly the bottom has happened, because likely by december well be back outside of the two year m a bands.

Now that being said, we do have this chart right here, which looks very, very interesting. The macro bull run starts the golden rule rsi 1000 today, which was yesterday, is only the fifth day in history that bitcoin rsi 1000 is less than 50., the other 4 346 days. The rsi 1000 is greater than 50., so barring some type of economic downturn worldwide recession world war 3. This would be an amazing buying opportunity for bitcoin being matched only at every other, exact bottom for bitcoin price, which brings us to the bitcoin charts. Today i mean if we take a look at bitcoin theres, a lot of lines culminating right here. Where bitcoin is you can see how many lines are there right here? Theres one theres, two theres three theres four theres four lines right there. So, where a lot of lines come together, thats generally pretty good support and or resistance in this case support we have the previous all time high. We have the long time trend support for bitcoin. We have this downtrend here. There was resistance here, support here and support here. We also have the 200 weekly moving average, but if we break through there we could be heading down to the lowest weekly moving average. That bitcoin has ever touched in history. Doesnt mean it wont, go below this, but worst case scenario based on. If bitcoin repeats what it does. Historically, it could get down to about seventeen thousand six thirty six theres other possibilities based on some other charts.

It could go down lower, but these are all possibilities and the chance of bitcoin going down now is the same as the chance of bitcoin going up when it was at like seventy thousand dollars. So everybody was pretty darn. Sure bitcoin was going up to a hundred thousand dollars when it was seventy thousand well, it didnt thats about the same likelihood of bitcoin, going down to zero now from twenty 000 and guess what it probably wont so thats all for todays video. Thank you all for watching make sure to stop by the real plan, cs twitter and check out this article. I also retweeted it on our twitter page, so you can see whats really going on behind the scenes of crypto. Thank you all for watching ill catch.