They are planning to buy robinhood, which is also a big crypto app. What does this mean for cryptocurrencies? We also have some very important indicator to show you in this video and we are seeing, as we talked about it early this morning, that the balance of bitcoin omni exchanges is going down, so the whales are buying. We also have some news regarding cryptocurrencies. Why cryptocurrencies did not rally today? Has the rally been halted? Are they going to not go up anymore were going to be talking about? All of this were going to be taking a look at technical analysis to see where the market is headed. Make sure you guys watch this video until the very end. You cannot miss what i have in store for you in this very important cryptocurrency video. Now, if you love cryptocurrencies, give this video a thumbs up, subscribe with notifications, and let me know in the comments below did you guys buy the dip? Did any of you buy the dip the last couple of weeks? Let me know if you did and what cryptocurrency dip you bought now getting straight into the video this morning. You know we saw a pretty decent dip in the crypto market where, as soon as the stock market opened up, kryptos just went right down, and that happens. You know on mondays, typically for cryptos and stocks, its kind of like an inside day, low volume and uh. You know we were really green.

This past weekend, stocks were very green on friday and uh whenever theres a lot of green theres, always a little bit of a pullback. So we saw a healthy pullback today and cryptocurrencies have bounced and are continuing to go back up. As of right now, this could change at any second, of course, but we are seeing uh ethereum up and the green. If we take a look at the right side of my chart, ethereum is up in the green. We have bitcoin almost to 21 000 bitcoin dropped as soon as the market opened this morning to 20 500.. Now lets get into some of this important information. So what we are seeing right now is the balance of bitcoin on the exchanges is going down its going down fast and generally, when we see especially here in the left side, we see a massive crash in the balance of bitcoin on the exchange reserves going down And what generally follows immediately afterwards is a spike in the price, because bitcoin is becoming less available, its becoming more scarce when theres less of it to be bought. So what wheels are doing right now is they are buying bitcoin. They are buying cryptocurrencies and theyre, putting it into cold storage. That shows us that, right now the whales are buying the dip and they believe that prices are going to go up higher and that we are close to the bottom. People are going to buy. They think we are near the bottom, especially the smart money, the whales they are going to buy when they think weve reached or have come near a bottom.

So we are seeing a massive drop in the balance of bitcoin on the exchange reserves, and this is a very, very, very, very good thing to see, despite whats happening right now. So we are seeing this happen, its very exciting to see, and this doesnt necessarily mean that right away, bitcoin and cryptos are going to spike. But it is an indication that we could be turning around here soon, that we could be near the bottom or have reached the bottom, its a bullish indicator of the overall market. Now what we are also seeing is that ftx is looking to acquire robinhood, so robinhood right now. Of course, you can see the stock is down significantly from the all time. High of about seventy dollars is about nine dollars. Today did spike today, um the robin hood stock is down, and that, of course, is because a lot of crypto companies like robin hood, are reducing their staff. Their businesses are going down because cryptos are going down and what ftx is seeing is an incredible opportunity. So ftx is buying a company that has been beaten down because of the crypto bear market, because the bear market for stocks as well, and that shows also the bullishness of the big whales, the smart money on the crypto market and stocks overall, the economy and everything Else so cryptos and stocks move together. So if ftx is coming to basically bail out or buy robinhood, which is really really no low right now they are buying a dip on the crypto market, theyre buying the dip on the stock market, and they believe that here soon very likely that they do see A rebound in overall markets that is a very bullish sign in my opinion.

Let me know if you think that this is going to be a bullish catalyst for kryptos. I think it is another indicator that things are theres a lot of bullish, things that are happening behind behind the scenes. Even though prices have gone down and crash and people are getting laid off in crypto companies and things seem bearish theres a lot of bullish things that are happening behind the scenes that you must be completely aware of and moving on. Just let me show you the charts here. So, of course we take a look at the charts in bitcoin and cryptocurrencies have been looking and setting up in a bullish manner. Right so weve been paying attention to bitcoin and bitcoin was forming this inverse head and shoulders pattern, and this pattern ended up playing out to a degree. Now we need to go back into this pattern to see. Let me show you this, so this was the resistance level that cryptocurrencies in bitcoin um were facing since bitcoin had crashed down, but we broke out of it last week and guess what todays little dip is just a confirmation potential retest off of this resistance. The previous resistance, which has now potentially become support, so this could be the confirmation of this breakout pattern, which is very bullish. If this is the confirmation, the retest of this previous resistance or support level, this can mean that we could be seeing a big bounce here. This week now another thing it needs you to be completely aware of and its going to be affecting all stocks and cryptocurrencies is jerome.

Powell is going to be speaking about 9 a.m. Eastern standard time on wednesday hes going to be talking with the european central banks and their inflation so uh, depending on what is said over, there, can also have a strong impact on the volatility of the stock encrypted market. So that is another thing just to be aware of for this week, but overall i am still bullish on this bottom right here. I am still bullish on this bounce right here. I do believe that we are setting up to make somewhat of at least a short lived balance, and this could be taking place over the next week and even the next couple of weeks, so overall im quite bullish, at least for the uh, the short term. The next week, the next couple of weeks, we could see some more downwards moving the next couple of days, but overall in the next couple of weeks, especially in the month of july, i am more leaning towards a bullish month in the month of july. Let me know if you lean towards a bullish or bearish month in the month of july, and if you guys want to get access to profitable trade alerts, where we are making money when the market is going down, when the market is going up, join the patreon Right now, for only ten dollars a month, but if you want to get access to all the tiers of buy alerts where you can even speak to me on the phone join tier three and do not forget to go over to buybit and create an account using.

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