Crypto and blockchain technology will be the 12th second mechanism, because its not a dip as the baby bulls, lay beaten and battered as we enter the 14th straight week of dumpage, without even a 5 plus weekly upside candle. Theres only one chart that you need to see right now and i promise you this. It will change your mind. It will change your life and it may just require that you change your underpants as well. Im your host, scoots, magoo and bitcoin has just done something. So simple, yet so apparent, and once you find out what it is, you will never look at these charts. The same again is a new channel. Make sure that, like subscribe, turn on those ghost notifications, never miss these absolutely time sensitive alerts and as well, if youre interested in any getting any bonuses or deals joining our stage pool to earn ada and society tokens? If you are delegating, you just claim these society tokens through drip drops im gon na have a quick tutorial at the end of this video. If you need to learn how to do that, uh, but as well, if youre interested in any other bonuses or deals, make sure to check everything out below and without any further a go lets. Dump it unbelievable. Its bitcoin currently is trading still this very second. Above 20 000 us dollars as the market has really cooled off over the last few days, uh. What exactly is going on the dxy first of all, obviously again still testing for the past, like two weeks back testing this long term level of historical resistance.

You know potentially trying to turn into support um, but as well. The stock market today getting rejected off of its 21 day moving average, and this is really big for bitcoin but theres. Something even more interesting that i want to talk about first and uh. The very first clip of this of my video today was uh a guy talking about how, while bitcoin and the stock market are trading sideways whats actually happening is a lot of money is funneling into uh crypto, and i actually was just watching a video this morning That had nothing to do with crypto and thats, where i found that clip. I was watching a video where a guy goes to like he was in miami. I believe, and he was just asking rich people how they afford their yachts right. He was just trying to get interviews with wealthy people and asking them how they made their money and how they uh how they could afford the yachts. That clip was from one of the guys that he interviewed that you know has spent years in the stock market and has been into crypto for a while as well. I believe he said he bought his first bitcoin at eight dollars and fifty cents and then sold around a hundred dollars and regretted it and then has been working in crypto for the last few years. Also but in my opinion, i think he dropped a little bit of a hidden gem or a little bit of uh.

Interesting uh advice that i personally also kind of think anyway, and i kind of had that uh that assumption or that idea that its very possible that you know as crypto has been absolutely getting dumped on, as things have been trading sideways. As its been very boring, i think it does make sense that you know, potentially these people that have saw have seen what happened with bitcoin and cryptocurrency over the past two years, specifically in 2020 and 2021. I think its possible. You know what those people saw uh. I think it makes sense that a lot of them are moving from the stock market, the heavily inflated stock market, which currently has like a 0.9 correlation with bitcoin, so theyre very correlated right now. I i do think it makes sense that you know maybe behind the scenes, a lot of that money is flowing into crypto slowly, but you know, maybe they obviously they would not want the price to pump while theyre doing that in fact, the best time for them To be doing, that is if crypto was the least valuable that it could be meaning they could buy as much as they as they could afford, buying the dip cheaply right. So again, i think it is speculation, its been my speculation for a while im sure its many of your speculation as well, but uh. He as well that millionaire who who owns the yacht in the intro that i found today just randomly i wasnt even looking for crypto content, um hes saying you know, as you saw in the clip a lot of that money he believes and based on the people.

He knows is flowing into crypto slowly as were just trading sideways and that clip was only from a couple of weeks ago, so uh that video is really recent. But i personally believe that you know a year or two looking back. I think a lot of people are going to look at this and think wow. You know, while everyone was fearful that we were going to go below 10k or you know, we still might, i think its still possible, but while everyone was super fearful uh, meanwhile, the fear and greed has been an extreme fear for as long as mankind has existed. It seems like since uh you know for the last trillion years. It seems like weve been only in extreme fear. Uh, you know, is it possible that these were actually when the biggest money was accumulating, and i dont think its crazy to think that i mean as well. One thing i want to point out too, is that in the past, bitcoin has been a steal under its current realized price uh. The aggregate cost basis of all coins in supply and the realized price is currently sitting around 22 000, so were below that currently and according to john bollinger, the creator of the bollinger bands. Here this is a picture perfect double m type top in bitcoin usd with the monthly chart complete with confirmation by bandwidth and percentage, leads to a tag of the lower bollinger band, no sign of one yet, but this would be a logical place to put in a Bottom and research, almost all bitcoin metrics at all time lows right now, based on the current positioning of bitcoin prices, relative to historical floor models, the market is already in an extremely improbable level, with only 0.

2 percent of trading days being in similar circumstances. Almost all macro indicators for bitcoin, ranging from technical on chain, are at all time lows: coincident with bear market floor formation in previous cycles. Many are trading at levels with just single digit percentage points of prior history at similar levels. Uh and the fear and greed is another thing they point out there just extremely low. So with that, i just want to make this a quick update, but i mean just looking at these charts. It is extremely boring but, in my opinion, very indicative of a bottom, and if we look at you know something like this four hour chart where were just trading completely sideways right above 20, 000. to me, whats that what thats showing is the potential for uh ultimate Support, i mean even look at the volume on the daily chart: thats pretty pretty high its the highest daily volume, weve seen since the last bottom uh. So again, i think its its very likely that um whats, going on behind the scenes with with crypto right now uh, will absolutely pay off for the people that are sticking with crypto right now, as you guys into the channel, make sure that, like subscribe, turn on Those ghost notifications never misses absolutely time sensitive alerts as well. If you guys are interested any bonuses or deals. Uh, two new tutorials are popping up below for trading uh for both buybit and phoenix theyre. In the description i recorded two new ones: uh, really quick theyre.

Each like four minutes so very simple, so make sure to check that out as well um up to over sixteen thousand dollars in bonuses through those exchanges uh, but as well to claim your ape society tokens uh, i was gon na make a standalone video, but the Video would be like five seconds, so i figured id just do it now, because people keep asking you go to dripdrops.io you put in your your wallet or steak address to where it is, and you can check to see what rewards you have and you claim them Its that simple, so its drip, drops right here and uh yeah i mean thats its literally its very simple. You can claim them every every epoch. Every five days. Let me tell you for the magoo thats.

https://www.youtube.com/watch?v=VOuu37Jvm8k