Why isnt it possible its just? Not why not you stupid, bastard whats, going on guys its kw here with another episode of crypto zombie welcome back to the channel hope youre having a great day today now i do have an exciting video. In fact, i am anticipating a major substantial move for bitcoin. In the coming days – and i am going to show you exactly why that is – and usually i do start these videos out with ta. First of all, you can see that we are still being supported by this legacy trend, which is good. We are still seeing the bulls attempt to support these levels. However, i am going to push the ta to the end of this video today, because i have a major major topic. I need to talk about today, its a bit of a warning. Okay and usually i dont give financial advice on this channel, but this is definitely something that i think everyone should do. Even you watching right now. I highly highly recommend that you take some action immediately, if possible. Now we will obviously push the ta to the end, but i do need to talk about this. I also want to talk about sort of um, a possible crazy, hail mary uh possibility for bitcoin, which is very interesting. If we look at the charts, we are seeing some similarities, i will go over and i also want to discuss something in particular that during this bear market, i really genuinely hope that crypto can get its act together because theres one aspect that we really need to Tackle – and we really need to fix right now and if we truly want that user adoption, then this is what we need to do so, ultimately, thats.

What im going to talk about today, like i said major major topics today, im going to try to keep this video short well see how that goes. But thank you so much again for coming back to your favorite channel, where we essentially just turn the camera on and give it to you straight so lets dive in lets have a look at the charts and, as usual, if youre not subscribed, if youre new to The channel definitely get subscribed. We have a lot to go over so really, if we just have a look at this guys were still just trading between this support right here. This resistance right here, we did in fact lose the major support. This was a biggie okay. This is the real problem. We need to definitely get bitcoin back above that 30 000 level um, and even that is really just the tip of the iceberg to get bitcoin back into bullish territory. However, i am anticipating a short term move to the upside, but, as i said ta in a minute, i want to start off with this. Now this is uh. This is circulating all over twitter right now. You could see uh 1161 retweets, 238 quoted tweets and 4930 likes okay, so obviously this is huge. This comes from fat man, tara. Now, essentially, what hes doing is talking about suzu being back in singapore. Working with you know, law firms, specializing in white collar crime, etc, and where did three arrows capital go wrong? So weve seen something happen in the space we saw the crash of tara luna.

We saw the conspiracy about some players potentially celsius right now. This hasnt been confirmed 100. This is just what some people are saying, and then you know the uh mafiosos, essentially or the big guys in crypto wanted to short celsius to punish them and they have a liquidation price. And if we come down here, we actually see that three arrows capital had a massive margin. Long on bitcoin, with a liquidation price of around 24 000.. Now, im not going to go over this whole thing: theres 14, tweets of information, but just to summarize these three main paragraphs, they kept this in secret even with their partners, because they didnt think it would realistically go that low terra, lfg and market conditions sent bitcoin Plunging now just real quick – i will get back to this, but if we look at this we have seen one of the most drastic intense sell offs in bitcoins history. Weve never seen the rsi. This oversold weve never seen bitcoin fall so hard so fast without at least a bounce or a recovery. Why is this happening? Well lets continue. Counterparties tried contacting three hours capital, they asked for collateral, but they ghosted everyone. They were forced to liquidate their positions, causing bitcoin to drop further from 24k to 20k, and obviously this created a liquidation cascade. It continued to fall further and we got into the 17. Thousands right you can see right here, then that triggered a bank run.

People started pulling their money out of celsius. Celsius had to freeze withdrawals after the first default. Losses were exacerbated, exacerbated genesis allegedly faces high nine figure losses and will sue blockfi and bitmex had some exposure. Other minorly affected parties included cumberland galaxy and derebit. Now, stick with me im getting to a point here, you can see. Goldman sachs has recently come out and said that they are looking to raise two billion dollars from investors to potentially purchase the assets from celsius. The investors would be able to acquire celsius assets at discounts in the event of a bankruptcy filing now. Listen. If celsius does in fact claim bankruptcy, then i dont know. Hopefully they would do the right thing, but most likely they wont because its crypto its the wild wild west, and that would mean that anyone that had funds on celsius, potentially i dont – want to spread fud. I dont know, but it could lead to the fact that you will not be getting your funds back right, and this brings me to a huge problem that were having right now in the markets, and this is the irresponsibility of these big vcs, these capital funds, these These guys that actually hold funds and promise these ginormous right 20 apy on stable coins, and although we knew it could be too good to be true, it seemed unrealistic. Well, now that you know what is finally hitting the fan – and this is something that absolutely needs to stop – and this is why also on top of what were seeing with the fed on top of stocks, falling crypto is not exactly in the greatest place right now, Because we do have these potential margin calls.

We have people, you know its, not just what banks do. Banks lend out your money for interest right banks, dont go on leverage exchanges and you know, actually, you know, have margin calls where they could lose everything. Banks dont do that, or at least not that im aware of in the u.s im, pretty sure thats illegal, but nevertheless it appears that this is what these guys were doing, so this could actually create a prolonged bear market. This is something that you cant see in the charts you you cant predict this right. This is something that was going on in the background. You know. If we go over here, like fat man, tara was saying he was saying that this was hidden. They were keeping this a secret from people. This is why we are going to see the regulation come into bitcoin, because these are the things that cannot happen in this space. If you want the space to continue to grow and you want bitcoin to become an asset thats on everybodys balance sheet, you want these sovereign funds which, by the way when we do get that green light, when we do get that regulation, you know like uh, kevin Oleary has mentioned youre talking all of this money coming in from the uae billions and billions of dollars that could push the price up. Forty thousand dollars right literally forty thousand on top of what we have right now, but until we can clean up the space, this is the situation that were dealing with right.

We are slowly gradually coming out of the wild wild west into the new era of bitcoin and cryptocurrencies. Now the warning that i have for you guys is hopefully and ive preached this literally for years on this channel is not your keys, not your coins. If you leave your coins on an exchange, you send your bitcoin or or your tokens or whatever to any of these exchanges, guess what guys thats, not your money anymore! You need to get a ledger. You have to withdraw your funds right now from oh look. It seems very tempting right. All of these high apy percentages look put it on there, but dont put more than youre willing to lose, which is why you need to take custody of your own bitcoin of your own cryptocurrency right, get a ledger! Nano s! Learn how to do it its not that complicated i do have links below in the description you dont have to use them. Youll help support the channel. If you do, but seriously guys, i dont need anyones money. What i need is for you to take responsibility for your own cryptocurrencies, or you know, like theyre, doing with some of these things that weve seen in these states where banks are going to start to custody it. Okay, maybe you know im not saying trust the banks, but unfortunately, when youre, looking at the lesser of the two evils, you may want to trust a bank more than you want to trust some of these potential.

You know defy exchanges, and this has really put sort of a nail, not a nail in the coffin officially, but its definitely put some damage on the d5 space and its going to take some time to recover, and we dont know who else hasnt come out to The light yet who else has their bitcoin and could be getting margin called, and this could be your bitcoin being used as collateral? You dont even know this right. Where are they getting all of this percentage apy from right? Well, when times are good, of course, yeah were all were all doing great everythings going to the moon. You know long it to the moon. 20X. 100X right were not in that situation anymore. So that is exactly what i wanted to talk about. Number one get your crypto off of the exchanges unless youre trading, if youre trading, okay, well, youre, already taking a risk anyway right if youre, using leverage in your trading. We already know that youre risking your capital, as is so fine risky situation, risky outcome potential sure. But if youre just gon na hold it youre, just gon na be a hodler, get it off the exchange and get it onto a bitcoin uh. Get it onto a ledger: nano s, a trays or whatever you want to use. I recommend ledger but thats that so thats number one thats number one number two were gon na switch into bitcoin mode right now now i wan na start with the fact that weve seen ethereum jump to 10 day highs in shiba inu source 15.

Now, if we come over here and guys, you got to admit we called this, i do you guys know anywhere. Can you can you like long and short bitcoin dominance? Is that a possibility, maybe im unaware of this, but that would be really fun because we knew that bitcoin was going to hit resistance here we called it. It did and in fact the bitcoin dominance from the top to the bottom is down 10. So i would have liked to have at least like you know, short term shorted, that i dont know if thats a possibility um but yeah. If you guys do want to learn how to long and short, regular crypto trade, regular crypto. I do recommend checking out the tutorial popping up above we have over 23 000 in bonuses below take advantage of all of those during the bear market. It takes like 20 seconds to sign up absolutely free check that out guys, but anyway, getting back to this, we knew that we were going to have this bitcoin dominance pull back now. You might be saying to yourself well isnt that not good right. We want bitcoin dominance to go up well, what im actually noticing right now is that usually you tend to see, bitcoin fall first, then ethereum and then the alt coins right it kind of has a trickle down effect and what we might be seeing right now, potentially, Is a trickle up effect if thats a possibility its a lot easier for these guys to move the lower cap? Alt coins right and theyre going to slowly try to take those profits, sell them out into the mid caps, and then i do believe bitcoin is looking for a bigger move.

Now. Why do i think that well number one? The reason that i think bitcoin might be looking for a bigger move is because we actually broke out of this downtrend and if you look at this uptrend right here, we came to this apex and we actually had the previous resistance right here. Acting as support, can you guys see this and weve actually put in this? Is a four hour chart so its nothing super major, but one two, three, four: five: six candles that close directly on it and if we zoom in right here a little closer, you can actually see that weve actually found support right here on the upward sloping trend. So we actually found support twice on the lower time frame and also, although you know its a little bit ugly, looking whatever. But there is a bit of a head and shoulders that could be looking to play out and we have actually broken through the neckline. So this is three different reasons why, on the short term, there could be a potential move to the upside, and we had warned about a short squeeze now, if for some reason tomorrow, youre watching the video and were down here, keep in mind its the weekend. So there is the possibility that we have a fake out to the downside. Like i said, i dont really pay attention to major major moves until monday hits, so we do have two more days of the weekend.

Anything can happen, but ultimately i do believe that we will end up closing a daily candle above this level, and we could still be looking for some of these levels right here, next level, being 21, 000 uh, actually almost 22 000 um and the level after that Is around 24 200 right here and then we have this mass massive downward sloping uh resistance that was the worst ever uh. Drawing this massive downward sloping resistance right here, which is going to be big for bitcoin to break out of. But you have to understand that it has been actually a little crazy how fast the markets have gone down, but usually markets dont just go straight down and also keep in mind. Okay, even the bears need liquidity. The bears need liquidity right. They sell into strength. If you dont have strength, how can you sell so what they want is to fake you out pump it up a little bit so that then they can sell down into it, which is why i said that if we get to these levels right here, it would Be an opportunity to look for a short if youre looking to trade, a bear market thats how you trade a bear market. Some people in the comments are mad at me like. Why are you telling me to short bitcoin im, not telling you to short bitcoin im? Not telling you to do anything, you could dollar cost average. You could sell into cash and just wait for the bottom.

Whatever you want to do, but in a downtrend you short, the downtrend thats, what you do until the downtrend gets broken and then you start longing. The support were in a downtrend until it gets broken. I mean at some point its not gon na work, but right now its not looking too bright. Its looking like were gon na hit some serious resistance between 25 and 30k. If we can get above that, then maybe we can change our tune. That is a possibility, but, as you can see right here, not only do we have the main major downward sloping resistance right here, but we also have the short term downward sloping resistance, which has been supported by three points of contact which traditionally makes it a full On trend, so this is a very, very, very important level and if bitcoin was to pump straight up lets just say we had like a green god. Candle from this point, youre looking exactly at 28 900, so thats like if we just straight up, started pumping out of nowhere tomorrow, youre gon na run into massive resistance right here, because you have the downward sloping trend and you have. The support. Thats been flipped into resistance, its just very simple, and you know lots of guys. They have all these crazy indicators all over the charts. You dont need all these indicators guys i mean some of them sure they work. But ultimately, if you just look at support resistance trends and price action, most of it is pretty apparent, its very obvious where the price is going, and that is how most algorithms trade, most algorithms dont trade, using specialized indicators and all this stuff.

No, they literally use support resistance and trends thats how they do it thats. What they do. I mean you know a lot of people think these guys are smart theyre, not that smart, smart moneys, not that smart. Let me actually tell you okay and if we have a look right here, another reason that um, i am saying that ultimately we could be looking for more of the downtrend is because, if you look at the macd, yes its completely oversold, but were also in this Red territory, we have these moving averages moving down and you could see that were not even curving back up yet right, although yes, im not gon na lie, you know we do have a bit of a trend. Um, you know forming up right here right. You could say that we are forming up a little bit right here, but ultimately you know this is still looking like. If we look at the weekly chart, it could potentially take us to at least mid august before we really start curving to the upside. So you really cant even look for any type of major recovery according to the chart, according to the data until at least the end of the summer – and i had my targets, for you – know a potential reversal around the end of this year. We had it sometime between october to december. Unfortunately, now it looks like its leaning more towards december now. One short term thing that would be nice is if we could close above the 200 weekly moving average, which is sitting at around 22 430.

. Now keep in mind. If we dont close above it by the end of this weekend, that would be the first time in bitcoins history that we never closed above it after a weekly candle, which would essentially mean we dont have anything left thats it all. The models are broken like 100, like none of them work at this point right were just entering a completely different paradigm, so that is uh. You know, ultimately, what i wanted to talk about, but heres the hail mary pass. So, like my buddy velvet pointed out, there is a potential chance of what they refer to as an expanded flat pattern. Now you know im not really a huge pattern trader, which is why the head and shoulders take it with a grain of salt ive. Seen a lot of them fail in bitcoin. Ultimately, your friend is trend, price action and the direction of the movement like ultimate, like you know, spider, lions and stuff, like that. That works the best for bitcoin. In fact, a lot of those bart simpsons that you see they tend to hit those spider lines and then come straight down right its the easiest way to trade. I dont know why people over complicate it, but you know, if you guys want me to throw a thousand indicators on my charts. I will but its not going to really change the trend, but in this case an expanded flat is an expanded form of a regular flat pattern.

Here, wave b extends and the robustness of b provides that the market wants to go in the direction of b. So there is that possibility, theres, always that possibility. You can never say with certainty that this is whats gon na happen, but, like velvet points out, there is a possibility that we could be nearing the bottom, and maybe we have one more retest of around the 20 19 000. And then we do continue to the upside. Well, keep our eyes on it. That is a possibility right, but what i did want to end on is the fact that solana, labs has revealed a mobile phone called sms and android smartphone device. Yesterday they revealed that they had the sms software kit, which provides tools for developing native android mobile apps walls and games and also includes a decentralized app store. The company also revealed that saga a powerful android smartphone will be released in early 2023.. So why am i talking about solana? Who cares right now? Well, the reason im bringing this up is because one of the biggest barriers for for crypto right now is user experience right. The ui on most of these apps is terrible, its horrible, i hate using it. Every time i go into it its like learning, a new language or learning a new code right thats, not how youre gon na get mass adoption. So what i hope that we do in this bear market and im talking to all you guys, building out there im, not a developer.

I hope that we focus on user experience so that when we do get out of this bear market, when we do head into the next bull which is going to happen, i see absolutely no reason why we cant take out the previous all time highs. It could take a little bit longer this time, just due to the circumstances due to the extended um, you know: selling uh the the fed remaining hawkish. We have stocks still falling. You know potential margin, calls and liquidations of these big guys, but ultimately, at the end it will be flushed out. It will reset. The fed is not going to let unemployment rates skyrocket, 20, 25 theyre gon na have to put the brakes on at some point right. We know that and its at that point, that i do believe that bitcoin will be the biggest benefactor of that move, but i still believe that in the process we need to make it easier. We need to make it more accessible. We need to make it like these apps that you download on the app store right. You open it up. You look at it very simple to understand nice user interface, something we need to focus on so im talking to you guys out there developers. I hope that youre working on this for the next time, because user adoption isnt going to come. If you know, i have to learn how to do all these parameters and write and connect to web 3 and do all these crazy things right.

You have to do that on the back end. You have to make the front end simple, so thats, where i want to end on todays video. I love you guys. Youre awesome just wanted to let you know what im looking at on the macro environment. I am anticipating a move for bitcoin. I do think its time for a relief rally. However, i do think that we will still potentially hit lots of resistances ahead if you are interested in learning how to trade. Make sure that you watch the videos popping up right here right now and make sure that you get subscribed to the channel, and i will keep you updated on that moving forward. My name is kdub.