So if you are watching this video before july, the 1st you need to stick around because im going to show you exactly what this means, what you need to pay attention to right now, whats going on behind the scenes and much more so welcome back everybody. My name is chris, bringing you cryptocurrency videos every day, teaching you how to make money in this market. If you are new to the channel, then make sure to subscribe and activate the bell right now and lets get straight into it, guys so on the uh four hourly chart, nothing has really changed the overall strategy i have been talking about during the last couple of Weeks still remains the same. We still havent approached this and tested this 22 500 level. Actually we have not done that yet, and we know that this is massive resistance, so until we break above this level, i am still cautious now on the weekly time frame. It remains the same. We are just inside of this buy zone right here, doesnt mean that we cannot go a little bit lower for traditional markets. We are seeing some green in the traditional markets we are going up, but now lets talk about what you need to pay attention to right now, uh on july, the 1st theres actually massive things about to happen before that, so within the next 72 hours or so Actually, one thing i want to show you is the volumes and the buying levels right now for bitcoin, so you can see that there are massive buy orders coming in here.

You can see that the volume is decent by this uh bubbles, the size of these bubbles, and you can also see that we have a decent buying pressure down below here. You can see that right at this level, we are seeing like 2 000 bitcoin flip back and forth. So there are people you know accumulating bitcoin at these levels. Definitely now one more thing i want to show you is. If we go back in time – and we look right here on bookmap – you can see that we did have massive buying orders right here. This is why these were red. You can see that we actually had some executions at that specific price level. Massive volume bubbles right here each one of these bubbles is around 100 bitcoin, so someone accumulated massive amount like 500 or maybe 700 bitcoin right at this moment here got right into the buying levels, and this goes to show that someone is accumulating a lot of bitcoin At these specific levels, which actually reinforces my thesis that you are going to see probably a lot of action leading into the first of july, which is the start of the holiday weekend. So let me explain this to you. This was actually explained by arthur hayes. The former ceo of bitmex, who is you know a very smart guy, definitely has a lot of good takes on the crypto market, and so what hes arguing right now is that this weekend, you are going to have not only the close of the second quarter, but Also, the close of the first half of the year, which usually means that a lot of funds are going to do the rebalancing, not only that also on monday, that is a us holiday.

So on the 4th of july, which is monday most of the people acting in the traditional markets and people working with funds and so on, they are mostly going to be off work, so they are not going to be able to transfer in the funds to also Uh buy the dip, so if we do see a drop in bitcoin right now or during the next couple of days, 72 hours theres not going to be a lot of the traditional world at least buying. At that specific point because, as i said on monday, that is a holiday weekend now, if you are an entity trying to pull some shenanigans here, if you are an insider because also the grayscale bitcoin trust decision is going to be on july. The 6th, which is on wednesday, i believe so, if you are going to position yourself like if you are an insider, if you know if this is going to be approved or not, of course, if it is approved that is going to lead into a big pump In bitcoin, if it is rejected, that is maybe not going to do anything or maybe were going to go down, but if you are looking to position yourself uh in accordance to this specific event and also the weekend right here and also the funds balancing their portfolios, You are going to do that within the next 72 hours. Now is grayscale going to have the etf approved. Well, they have told the ssc that they have already contacted financial institutions.

They already have everything in place to convert this to an etf as soon as possible. So now were just waiting for the sscs decision and, as i said, that is going to be on july, the 6th so be prepared for that. Yesterday i talked about coinflex and them telling us that they had an entity which they have well. The entity has defaulted on them and they are lacking 54 million dollars now uh i was concerned. Maybe we were going to see which entity this was now. Conflicts did not reveal this entity, but instead what they are going to do is that theyre going to issue a token with a 20 annual return uh in order to raise funds for this black hole they have in their balance sheet because of this entity defaulting now We dont know if it is a big entity if it is a small entity if its an individual. No, we do know its an individual. Actually, they did go out and say its an individual, so maybe its not as serious as some people were expecting now. An update with celsius as well is that apparently, the celsius management are trying to avoid chapter 11 bankruptcy. Now, chapter 11 bankruptcy basically means that they are going to liquidate all of their funds and, as we know, first, the investors are going to be paid off, then the partners and so on. And, lastly, the depositors are going to paid off. So if they go into bankruptcy, chances are the depositors are not going to uh yeah, see much of the money that they had deposited into celsius because, yes, probably theyre going to sell all of their assets all at once, probably with massive slippage and at a bad Price, so this is something celsius wants to avoid and what they have basically been saying between the lines or according to people close to the celsius management.

Is that for users to support this action of not filing for bankruptcy by enabling huddle mode in their celsius account. So i dont know guys um celsius. It looks really really bad for celsius right now, so we will see what comes after that so guys make sure to pay attention to july the 4th. This weekend, you are going to see probably some volatility leading into the this friday, so pay attention to that.