Bitcoin: The END of the Crypto Bear Market Is HERE.
Because after all, as ive been saying. Since december of last year it is a traders market and i dont think thats going to be ending anytime soon. So stick around im, not a financial advisor, so everything i say is general information and for education and entertainment purposes. Only trading and investing is incredibly risky. So you must always do your own. Due diligence seek your own professional help and guidance before making any decision in the market and past results are not indicative of future performance. Now. What im looking at here is the blx chart being bitcoin. It has the most data but im treating this as a proxy for the overall crypto market, so we can see the last cycles that have been in play. You know, obviously from start to finish and as you can see in terms of timing, which is what im talking about here, im not really concerned about price. More so time of when the actual bear market could end thats. What im paying attention to and in terms of the up cycles, theyve all been relatively similar in terms of length. I have just over 1100 days, just under 1100 days and also just under 1100 days, but for looking at the downward cycles, its pretty interesting to see that these are also getting less in time as well, just like the upward cycles, so, typically speaking, theres. Nowhere near enough data to deduce anything, you know any final conclusion about when the bear market will end, but what we can start to pay attention to is the pattern.
What typically happens around these times in the markets of the bear market because sentiment, doesnt, really change. All of that much timing can but sentiment. Doesnt people are greedy at the same times, theyre fearful at the same times, and we have noticed that the fear has been on the rise and over the last week or so. The sentiment has just started to die off what ive also been pointing out on the channel. Is i dont think the low that weve seen the 17 and a half thousand in bitcoin is the final low, but i dont think its going to be going too much lower. Of course, it doesnt really matter in terms of price and what im doing in terms of trading its just kind of some observations of where the markets at and whats been going on. But one things for sure is that, after we do get that final volatility into the low, we do see an extended period of quiet, market action and its just not on bitcoin. If you look at other charts, it also happens as well on the macro scale. So thats something to be paying attention to now, especially if we do start to go dead for a number of months around where the current price is because that could be a signal that maybe the low that we have seen was the final low again im. Not calling that, but you know in terms of sentiment and where the markets at its just something to be paying attention to if we do fall into one of these patterns here, theres still, you know a fairly significant amount of percentage moves in terms of trading, and I do think its going to be especially at traders market, even more so in terms of range trading and theres a few strategies we could talk about on the channel if it is of interest to anyone.
But what were looking at now is in terms of timing. If were going to be looking at something similar to the previous bear market cycles, plus or minus a couple of months, it does put the low out to around the end of this year and at latest early next year. Now, because, where we are in the bigger picture, the macro a lot of people are macro economists, these days ive noticed, but wherever we are in terms of the macro economy, the real estate cycle, you know, creation of credit banks creating credit. I just dont see this. Bear market extending out much past the largest one that weve already seen. You know its, probably maybe its a bold call. I dont know time will tell, but i just cant see this bear market blowing out significantly past. You know some of the previous cycles, so at worst i do think were going to be seeing a cycle low late next year, if not much much sooner. But what the key signal is going to be is what the sentiment and what the chart actually does, because if we do start to see an extended period of just no volatility sideways market, then thats probably going to be it as well. So weve got a few key indicators to be looking out, for many of you will be familiar with this chart. Ive been sharing on the channel quite a lot before we got that final dump into the current load that were seeing.
So this is just kind of a simplified version of what were looking at with what could be coming up in terms of the cycle low and the beginning of the next bull market. So you know its definitely something to be keeping in mind. Now we have a few more indicators, or you know at least patterns timing to be looking out for as to when we could be getting that cycle low and then the next breakaway, so weve covered a bit of the big picture. Lets dive into the trading and, of course, im going to remind everyone who love to hear about the world series of trading coming up jason, and i have a squad that you can join theres. A link in the description below theres up to eight million dollars. Worth of prizes, and also, if youre a new time subscriber its up to about four thousand dollars worth of signup bonuses, depending how much you deposit so make sure you check those links out now. I know buybit doesnt serve everyone, its no good for us people, so weve also got something new for you guys. Another exchange to shill or, however, you want to look at. It is actually exchange. It is good for americans. There are some pretty big sign up bonus as well, and theyve got very high amounts of trading volume, which is good for anyone who does experience any slippage issues. Bitget is the exchange, they have very high liquidity and they also have some pretty big signup bonuses and theyre good for americans, and they also know kyc if you do want to protect your privacy.
So if you are looking for a secondary account check that link out in the description below theyve got a very simple and easy to understand, rewards program on how much you deposit and then what reward you get up to eight thousand bucks, although i suspect not many People are depositing a hundred and twenty five thousand dollars, but you can see there if youre, depositing, obviously you know six grand or twenty grand theres some pretty decent rewards in there. Even if youre depositing fifteen hundred bucks, i mean its still sixty bucks. So you know if you wan na check out another exchange as a secondary exchange check out. Bitget link is in the description below now to a lot of peoples. Discussed ive been talking about a bounce for cryptocurrency, since this short trap. I also, i also posted a lot about this short trap to be looking out for taking profits quickly on any short trade, because it didnt look like it was going to continue. Dumping from that point forward now were starting to see a bit of a bounce, but what im looking out for now, as you can see on twitter, make sure you join me over there as well is it looks like some of the bears are going quiet and, If we do start to see continued break higher continue break off from where it is. I think a bit of fomo is going to set in, and i think it could be a bit of a bull trap on a short time frame as well.
We could see a bit of a pump higher, then obviously a lot of people suck it into the market thinking this is the macro cycle lower going to the moon from this point forward, only to see a bigger picture correction on something like the weekly time frame. So im just kind of talking out loud in terms of some setups that could be playing out and how that could be affecting some shorter term trading profit taking what could be happening. You know overall in terms of a bit of market structure, which is why im pointing that out, but you can also see on the chart some ceilings and floors. I have in terms of some short term trading. Broadly speaking, bitcoin and a bunch of other crypto are falling into a bit of a range in between its previous top. You also see theres a bit of a double top going on, but just kind of getting stuck in a range looking for a bit more price resolution and volatility, and that could be happening when the us market does open up for the week uh. You know in just a few short hours from now eight hours, or so you know so that could really give us some price resolution, but i still do maintain this bullish bias ive been talking about for a couple of weeks now, since you know that low did Shake out and in terms of downside targets for any short trading, ive been saying personally, not financial advice.
If i would, if i would be trading short ill, be taking pretty quick profits on them, because i dont think downtrend is going to be lasting long and the proviso that whats going to change my mind from that is, if we start to see some breakdowns of Around that 19 and a half thousand dollars ive actually raised that base. Last week i was talking about 18 and a half thousand now im talking about 19 to 19 and a half thousand. If we start to see some breakdowns from those prices, some closes below some lower tops below, then i will be thinking that im going to be getting my bear coat back on and we could be seeing a bigger picture. Downtrend from that point forward, 17 and a half thousand dollars is going to be in trouble and the bears are going to take back control, but until then im keeping my bull code on, i do think, were going to be seeing some corrections to the downside. Before continuing back up, but one step at a time, you kind of have my micro short term view with what what im thinking out for in terms of shorting. You know another potential trap, a bull trap playing out if some people do start to get fomo and jump into the market and also my downside biggest picture. You know correction zone to continue this bull market. Now that ive been talking about so thats about it.
For bitcoin, you know in terms of four hour plays, i wont, be going into that too much in this video, but i will in the next video so make sure you stay tuned for that jumping over to solana. Now and now, viewers of at least a couple of weeks know ive been really liking the look of solana putting in a bottoming pattern and having a bounce well before the fact now, you can also see on the ti again swing indicator ill leave a link in The description below for anybody interested to learn more about it and how to access it. The trend has turned up on the daily time frame for the first time in a number of months, since all the way back in march or the last time we had a decent daily uptrend its been down since that point. So if you ever wondered if the markets going up or down or what the trend is definitely check that indicator out, but as you can see, the daily trend is firmly up. It maintained its uptrend. It is starting to find some resistance at around 42 bucks. So if you do recall from my video on saturday a couple of days ago, i mentioned this as being a profit taking zone around 42 bucks, not financial advice. Just you know in terms of what the money is doing, buying and selling. It was clearly a selling zone which has obviously seen a bit of a correction now, but in terms of the bigger picture, slightly bigger picture, the daily trend does remain up and im now looking out for another breakout level above around that 42 bucks, that previous top To maintain this daily uptrend, but were going to zoom into the four hours well, so we can get some pinpoint some more areas to be looking out.
For now, the daily trend is up, but the four hour trend has turned down, as you can see. By the same indicator, it works on any time frame minute, second or whatever. Youve got data to all the way. Up to you know yearly data, if you really want, but, as you can see, were finding some resistance at that 50 level. At that 42.59, we are seeing somewhat of a correction at the moment, in my view, the way im currently reading the market. This is a relatively healthy correction in a larger time frame, uptrend. So, once again, that daily trend was up. We have some short term trends down, but im, anticipating upon confirmation that the daily trend will continue back up again. This to me looks a little bit like some previous corrections that weve already seen like the one we saw back on the 21st of june and also in a slightly smaller way, compared to the bigger correction we saw starting on the 16th of june as well. Now, theres still no confirmation that bigger picture uptrend resuming its just kind of some thoughts on the way im reading the market. At the moment now, whats going to get me bearish on solana is if it breaks back below some significant support levels. Now, quite simply, if we use our 50 tool simply being the fib retracement in the drawing tools, i only have the 0.5 setting turned on if we start to drop back below around that 34 being that 50 level, and also a pretty clear area of support and Resistance thats going to get me getting my bare coat back on, i think any short term short trading for solana.
In my opinion, i think profits will need to be taken quickly because its probably just going to be a short term. You know a little dump before recovering and we get that macro trend going again, not financial advice, just kind of kind of some thoughts on the market, and you know the way im reading it at the moment, but in terms of a bigger picture, bear coat to Be thinking you know were dumping down to those previous lows. At 26, bucks id want to be seeing some short term closes, and certainly some lower tops below around that 34 price point. Now a few people really happy to see me cover matic and maddox obviously had a really good move away from its 30 cent low its now starting to tackle some of its previous resistance areas, its just hitting its head on it at the moment. But it does look like we are going to be seeing a transition in trend. Obviously the downtrend ended all the way back on the 21st of june, and it does you know its currently in a transition period, which is why theres no color and theres every chance. The daily trend is going to turn back up. You know upon a break of some highs, thats kind of what im looking out for to get this trend back up. But overall we do want to see it maintain its price point of around that 55 cents. Being that previous area of resistance – and you know if we can really hold up where it is right now and um – hold its ground at 55 cent – i do think maddox is going to be working into an even stronger position.
You can even just draw a trend line joining the last couple of tops. You know its really just starting to find you know its trying to find its tune really if it can hold up from this. You know current level from where it is fighter can maintain its ground and break some tops its going to be moving into a better position of strength, especially getting above its previous area of consolidation and obviously that last low of significance on the 12th of may. If the price does break back down below and get some lower tops below 55 cents, i do think its going to be a shortest market, thats for sure its going to be game on going to come back and re test. Some of those lows in the 40 and 30 cent range – you know, thats kind of what im looking at for in terms of both sides of the market. Gala was one of my pet markets from last week every week. I will change it up from time to time with a few different coins. You know what were looking at now in terms of gala breaking away. Weve finally had a bit of an upside breakout, a bit of momentum. I am on the daily time frame once again and if you just look at that 50 level at night, seven cents even seven cents. We had this on the chart well before the fact, an area to look out for some resistance and profit taking.
Perhaps you can see, we have had a transition into an uptrend. It is starting to work its way higher, but we do have a fair bit of congestion. Overhead to you know really get its head back through. You can already see some other markets are starting to break back through their area of consolidation, galas just not getting there yet, but in terms of some double bottoms and bigger picture players, its still holding up pretty well, i still do like gala in terms of bigger Picture play on something like the weekly chart, but i just need to see some bigger picture confirmation to get me. You know a little bit more confidence going to run for a decent amount of time. Overall, in terms of the trading its you know still some decent moves in it uh. You know not as much as some other markets, but its still playing ball to the analysis. The trends are turning up its finding resistance on its 50 level. So in terms of another play you know coming up for gala, it does need to get back above around that seven bucks and a higher low. I think if you can do that, its going to be re testing, some of the top ends of that previous consolidation pattern around that nine cent mark, so thats kind of where im at with gala at the moment, im not really thinking about shorting this market. As i said in last weeks, video id be getting pretty excited about shorts for gala if it did break back down below that five cent price point, because its going to be breaking a fairly macro area of support.
Now kadana has also hit a technical, uptrend. Buyer indicator and its also holding its trend line as well, but one thing to keep in mind is the market is largely grinding, so while the trend does remain up, you have to read it in the context of what the overall market is doing, and it is Still grinding, but it is working its way higher above its trend line. So you know youve got to kind of read these things in the broad context of the market, but if we do start to see some upside breakouts, i do think we could be getting some more momentum for cadano just because it has been consolidating for a number Of weeks now so, while other markets were getting crushed, kadana was really holding its ground and you know just consolidating in a decent range. So the first upside target for kadana, if it does break, is around that 55 cents and above that ill be getting. You know much more bullish for kadana because its going to be breaking above its previous um. You know consolidation zones above those old lows. Everything like that, but in terms of short term plays, we have to see if you can break out reach around that 55 cent level and then get back above shorting. The market ill be getting very excited about shorting, kadano, more so below its a 42 41 set price point being some of our previous lows as well. Although the market can still easily dip within that period, its just a bit choppy and i think theres – easier markets, at least in my opinion, to be going short on just you know, based on market action and previous support and resistance, now eth has been absolutely punished In the recent month, but its working its way higher now and the price weve been looking at on the way down and now on the way up is thirteen hundred dollars.
It found some resistance just below thirteen hundred bucks, but its desperately trying to get back above there. Now thirteen hundred bucks comes from a long way back of some macro areas of support and resistance. As you can see, the technical trend is up on our indicator. Its still holding its ground and if it can break back above you know those couple of previous tops, there could be another good little pump in um. You know in ethereum, but keep in mind what i spoke about in the introduction, just after the introduction that little bull trap that could be playing out people getting you know, people starting to fomo into the market only to see an intermediate top and a bigger picture. Correction on something like the weekly chart, just like we had that bit of you know the short trap that i spoke about and ive spoken about. Some you know even shorter term bull traps. This could be another potential bull trap on a slightly larger time frame, such as the daily time frame, theres, always a lot of moving pieces. You know to be keeping in mind when were talking about the markets. Different time frames, different kind of patterns and that kind of thing but thats, where im at with um with ethereum at the moment – and you know a few other alts ive – also covered thats a wrap on the market update. We looked at the big picture. A few potential players that could be coming up in bitcoin and a bunch of alt as well.
If you did enjoy this market update. As always, you know what to do remember to check that world series of trading out joining jason and my squad using that link in the description below. If you do want to test your skills out up to 8 million bucks worth of prizes and for all of our american friends, you can now check out bit get as well, which also have a bunch of sign up bonuses, not just americans, its good for anybody. Youve got very good liquidity check those links out below and until next time ill catch.