And now they have lost their money because they made a bet on cryptocurrencies and they have gone down. So a lot of these companies have been liquidated and thats. Why cryptos went down so fast like they did now here we have it. The ceo of ftx actually is bailing out a couple of companies to prevent any crazy, further crashing and collapsing in this crypto market. In this, video were going to be talking about that were going to be talking about the behind the scenes. Information of whats happening with the whales, what theyre doing with cryptocurrencies, and where are we headed? Because today we have seen a significant dip from todays high, so were going to be analyzing. The entire crypto market make sure you watch this video until the very end of your whole cryptos like dogecoin or shiba enum bitcoin ethereum. This video is for you now make sure you guys subscribe with notifications on, but most important give this video a thumbs up. So we can share this information with others who need to hear it, and let me know in the comments below do you think there is going to be another bull market or bull run this year now getting straight into the video. Let me take off some of these lines. Some of these indicators were just taking a look at bitcoin. I mean what we can see so far is that uh over the weekend, cryptocurrencies they popped monday, cryptocurrencies pumped and yesterday cryptos have topped out pretty much since the stock market has opened as soon as the stock market opens.

Generally, the last several weeks when cryptos have been bullish over the weekends the stock market opens up, they start crashing, they start going down and thats exactly what we are seeing. Nothing crazy, but cryptos are still holding up a key level of support and for bitcoin thats about 20 000. So right now, bitcoin is trading right above right under 20 000. It is struggling right now to hold 20 000, which is a big deal. Now we were, in addition watching on the 30 minute time frame, bitcoins interaction with the 200 ema, which we ended up breaking above and trading far above it now weve not only gone it down below it, but we have gotten rejected off the 200 ema, which does Signify that we are for the time bearish, the bulls have lost momentum, as we are seeing right now, so we are not extremely bullish were not pumping. Obviously, today bitcoin is down about three and a half percent like most cryptocurrencies, so we have comment down and something ive. Let my patreon members know is that if you look closely lets go to just the one hour time frame, we can see that bitcoin is forming a head and shoulders pattern head and shoulders pattern, and this is a bearish pattern. Doesnt mean its going to play out in order for this to play out. Bitcoin needs to break the neckline and thats going to be about 19 790 somewhere in that range.

If bitcoin breaks this range, we could see a pretty big move to the downside. Pushing us close to the 18 000 mark, and that means uh for most cryptocurrencies from our current level. We could be seeing another about a nine to ten percent move to the downside that could be happening, especially since bitcoin has failed to break this high here now. What we could be experiencing is just a little bit of a fullback trading sideways before we continue going up as well. So we are just going to continue to monitor the charts to see whats happening and end the patreon and let you guys know through constant updates, buy alerts, sell alerts. I give you guys, stop losses, so you know when to get out when to get in so highly recommend joining the patreon, and last week we put a trade alert out for shiba inu and we made 43 if you would have bought that alert in tier 2.. I highly recommend joining tier 3 where you get access to all the buy alerts. Now let us move on to what is happening in the crypto market. Besides the bearish momentum today, besides a little bit of pullback today, i mean you know in just talking about the chart as well. We havent seen a massive crash today, weve seen a little pullback, a three percent move to the downside, honestly very typical in a bullish market, very typical, in a bullish uptrend, because since we have bottomed out this past weekend, when bitcoin hit 17 000, we have been Seeing some bullish continuation, we have been seeing higher highs and higher lows, at least for the immediate short term, but we have failed to break this high, so we need to see if were gon na break it.

If we continue to reject and not go past, this high right here for bitcoin around 21 700 in that range uh its likely that bitcoin is going to trade lower and had it lower and potentially bottom out before we tried to attempt breaking the 21 700 level. Again now getting into the important information bitcoin billionaire sam bakeman, fraud, bails out, embattled, crypto firms, block fi and voyager, so block fi and voyager were on the brink just like celsius and some other crypto platforms from being liquidated and unable to give clients their money and That would have been really disastrous for the crypto market, so he stepped in and prevented that from happening look today we are injecting 250 million dollars into block 5 partnering with them, so they can navigate the market from a position of shrink. Now that is a very, very good thing to see that he is bailing out companies from potentially being liquidated, preventing further crashes in the crypto market, thats a good thing to see uh in addition to that, what we are seeing is this bitcoin price weights below twenty Thousand okay, so bitcoin right now is in the range between twenty thousand nineteen thousand twenty one thousand as well send fifty thousand bitcoin to exchanges. So this is nothing new um, but what this analyst is pointing out is that theres a lot of bitcoin being sent to the exchanges, and when that happens, it means that people are sending their their bitcoin, their cryptocurrency from their cold storage or cold wallets, which is A place that they hold long term and uh theyre, sending the sending it to the exchanges.

Now what this generally means is that theyre preparing to sell it so um. In addition, they could be either selling it or maybe theyre, going to be just keeping it on the sidelines so that if the market does go lower, they could sell it and then rebuy in at a higher price um. These are certain possibilities, but generally that is a bearish sign. When you see whales and people begin to take their crypto from their cold storage and put it onto exchanges, it generally means that theyre preparing to sell so um. You know, in addition to that, we are, of course, seeing people send their bitcoin to exchanges theres, also just as much or probably even more whales, doing the exact opposite thing taking their kryptos off the exchanges, so it does balance out with the inflows and outflows to Exchanges and whenever you see people taking off their crypto off the exchanges from putting in the cold storage its also another bullish catalyst. So very interesting to take note of, and in conclusion of today i mean were just talking about today – the immediate short term uh. We are basically kind of like in a no man zone at this current point. If bitcoin ended up breaking this high today, it would be very clear that going upwards further is uh going to be most likely. The next move a continuation of our current trend, which, to a degree, is an uptrend right, but if we zoom out, we must completely understand that bitcoin and cryptocurrencies are still very, very bearish.

They just crashed. They just crashed a lot, so bitcoin eventually is going to make it back up to the 30 000 range which, from our current position of bitcoin bounces up, has up to 30 000 were looking at a 50 move. Can you believe that 50 guys? That is a lot. It does seem like a lot, but cryptos can make those types of moves very quickly and the five percent 10 12 moves that happen. Uh quickly add up, so i mean just bitcoin from the bottom to the top this past weekend. It bounced up 23, so it just needs to do that twice and its going to be back up to 30 000, so its something to take note of – and i mean even looking at this position right here – what bitcoin is for me. Let me take off some of these indicators. We are seeing it inverse head and shoulders on the four hour time frame now. This can be, of course, invalidated, which means, of course, not going to happen, but this if we continue to go up and break some of these resistance levels, um its going to be a sure sign that bitcoin is going to be making a big move and its Going to be a buying signal for us, i mean, if we want to be very specific, i can show you exactly what bitcoin needs to do in order for this to actually play out. So bitcoin needs to break around 21 300 for this pattern to start becoming validated uh or to be made true.

So generally, what happens in an inverse head and shoulders pattern? This is a bullish reversal signal and it signals to us that a change in momentum is taking place, that we are changing direction from bearish to bullish, and this is generally what it looks like seeing. This v is good, but seeing the inverse head and shoulders is what were looking at here. So what bitcoin generally will do is if this ends up playing out is that bitcoin will come up at some point. Maybe the next couple days come up and test the resistance level, its a downward sloping resistance level when it comes up to break the resistance level generally well see a pretty big move, and generally also, we will see somewhat of a back test so usually well come Back down to test the whales, they will push prices down to actually test to see if these levels hold up and when they get that bounce and understand that the levels do hold up thats when the whales generally buy thats a lot of times. When a lot of traders buy because at that point they have confirmation of the move and direction, and you can actually measure how big of a move. This is going to be by taking the length from the head to the shoulder or neckline and putting it to the resistance level, which is the neckline and putting it at the area where the price is going to be breaking out.

So that would push us to about 25 to 26 000 if that were to play out and weve seen this play out many times before um. This is a likely scenario. If, of course, the bulls are in control, they take control and can push prices higher, but bitcoin needs right now. The next couple of days needs to break about 21 thousand dollars and that number gets lower and lower because were at a downward sloping resistance and support level um. So if bitcoin can break twenty one thousand dollars guys and continue to break above it, i will be showing you guys this chart here on the patreon. Also in this video in my videos, if bitcoin does break that, thats going to be very good news. If you hold cardano xrp, shiba, inu, dogecoin and so forth, so guys get ready, we could be making a very bullish setup setting us up for a bullish, bullish end of the month of june and a bullish month of july. We could have a bullish summer recovery. Let me know if you guys think that that is in the cards or, if thats unlikely its just not going to happen, and there are some other outcomes. Of course, you know were looking at the bullish outcome um, but the bearish outcome is that bitcoin could trade sideways for some time go up, come down and then test again? This support level for bitcoin, which is around 17 500 uh bitcoin, can test this support level and if that is tested and we break down below it, we have some further price targets to take a look at.

So we have a bullish scenario which we can go up. We have a bearish scenario which we can go down, which we will be seeing play out here in the next couple of days were gon na have further indication of which scenario is going to be playing out, especially the next week to two weeks, and then, of Course we could just be trading sideways for some time and slowly making our way back up. Make sure you guys claim your 4 000 deposit bonus over on buybit and im, giving up an f1 formula racing spot for people that deposit 10 over on buybit. Using my link, you will have a chance to win. You guys have a very good chance of winning, so i highly recommend doing that and you can claim your 4 000 deposit bonus for free as well. In addition to that, so thats gon na be it for todays video make sure you guys check out the patreon check.