Bitcoin & Crypto REJECTED! Stock Market "Tanked" (Do This NOW!)
In this video we need to inject a little bit of hopium the markets, dipped bitcoin crypto was rejected and, of course, the doomsday has come out in droves, so lets piece together. Whats going on in the markets after one day of a few percent down now, if you havent already make sure you smash that like button, because unfortunately the cardano lovers were able to do 11 likes, you guys need to beat that hit the like button down below Subscribe to the channel, if you havent, already 3 out of 10 of you arent, subscribed and, of course, hit the uh. The bell notification icon as well. All right lets have a look at the charts s. P 500 index weve been looking at this covering it, because all of the two and one percent dips have been making headlines look at where we are from the all time high. Let me remind you and say that again, the all time high on the stock markets 3.3 down yesterday or the day before i should say closed at 1.9 percent down now – were at 3.3 percent down now. If we take a little bit of a zoom out like we always do the next level of support still within a macro bull market 4548 points on the s p 500, we scroll out a little further. We can look at the next major levels – 4014 and then we scroll out to the major level at this point from the covered crash low in 2020.
So were still not even the full bull market. That level is 3505 and then we can zoom back, but we dont even need to worry about that right now, because we havent even got over the first minor 50 level, so were still in the strong half thats. What were looking at right now, the doomsdayers are taking the headlines here. Four hours ago, five hours ago, new york times wall street journal tech stocks dragged down. Looking at this as being the start of the crash, which was scheduled two years ago by harry dent a year ago, again by harry dent a few months ago, again, probably by peter schiff or harry dent – and it continues on so thats what weve been looking at. Thats, obviously, why we continue to cover it so were injecting that little bit of hopium but its to understand what the headlines are doing to us. Throwing these weird and wonderful titles at us so over the uh the course of the last 24 hours markets are down, and this obviously has affected cryptocurrency, because tech sector is down a lot more than the s p, 500 and then crypto being a risk asset. Is now getting sold off at this point in time, but we always look for those higher lows but lets just quickly recap: the nasdaq levels to look for support. Now you can see that this 50 level im on a massive chart here, one month. So these time frames are very, very big.
Lets drop it down to one day and you can see what happened just yesterday. We did have a close beneath the 50 level, so the nasdaq is weaker than the s p. 500. It would be s, p would be down past the 4 500 level if it was at the same weakness as the nasdaq. So you can see. Ive got the low here in around october and im using a similar low here in october for the s p. So the nasdaq now down 7.5 from its all time high, which was a little earlier than the s p 500, and the next levels for support 13 721. Just using the next major range at this point and then back to the covert low uh 50 range. Oh, that is the 11 768 weve got other major levels to remain in a bull market, but we dont need to worry about those for now because were just injecting that little bit of hopium back into the markets. We are expected to see some turbulent times quarter. One potentially quarter two well see some rocky roads. Weve just been going up for many many many months and we tend to have corrections within a bull market, its very natural, and we need to see these corrections in order to get higher prices every now. And then we get the government bonds chart thrown around showing us that things are falling out of the sky and the market is about to absolutely implode.
Unfortunately, people tend to look at very short time frames. I got four hours. They look at the last five days because thats what the default is when you search it on google or yahoo finance you see five days, but, as some of you guys might note here, you can see the 50 level we zoom out. We drop it back onto at least a weekly chart, because these things are very slow moving you can see. The market has just peaked out at 50, which we tend to know can be resistance in the market now. The other point to note here is that were seeing higher lows. We see the covert crash low. This is march 2020. This is for the bonds we see another low in august. We see another low in around july and august. We see another low in november and the market is on this. This rise with a straight top, so that looks to me like an ascending triangle, which is a bullish signal. So the next level it has to overcome is the 50 level from the 2018 top to the 2020 low. If the bonds overcome that, then we could possibly see higher uh higher percentages on the bonds, which is in stark contrast to what the naysayers are saying and that the market should be falling. Now, if that was all like a foreign language to you, come over and check out the investor accelerator light gives you a taster for what we do on a daily basis.
We have regular weekly market updates. Link to this is in the top of the description, so its the patreon group over there go and check it out, theres a lot of things, thats included in this membership and theres also tia premium, which teaches you how to trade check out the links in the Top of the description, if you want to learn more about making investing a full time gig for yourself now for the bitcoin and crypto rejection over the last hour, not much has happened. 24 hours were actually in green now, even though the markets have taken a little bit of a hit. Lets take a look at bitcoin and going to a short term time frame the four hour here. Guess what weve just hit our fifty percent level? Four. Forty four thousand one hundred and twelve weve just taken a step back from that the volumes are lowering on the way up and from that point, lets have a look at a short term 50 to see, if were getting some sort of support thats at around 42 051., so in terms of a short term hold up here or some support, obviously 42 would be lovely if we get a little lower, not a problem. Ideally, we dont want to go beneath the 41 000 to begin to reaccumulate for the next attempt at the 50 percent and then the next fifty percent and so on, thats how we begin to climb out of this despair that is at the bottom of the market.
Speaking of the bottom of the market lets have a look at the last update of the wyckoff accumulation, so i was looking at a secondary test here on the 10th of january. Weve had two and a bit days up before we got the reversal. Ideally, we want to see three solid days up three good days up tens to not always, but it will can change the direction of the market, so we havent had that confirmed flip. Yet now we just saw the fifty percent levels secondary tests as per y cough. We can get multiple secondary tests within phase b, so it would look like were in a phase b, im, not sure that were in a phase c in the springtime. Yet before we bounce out as this can take up to around 12 months, and sometimes it can be more than a year – this is the stage where institutions and large professional interests are accumulating at relatively low priced inventory, in anticipation for the next markup and so theyre. The prices that were looking at as the market gets marked up were testing some of these low levels and we havent quite got to that. Forty five and a half thousand, potentially forty six thousand. Now that we can put in our next fifty percent using the low to the fifty two thousand dollar high, we can see at forty five thousand eight hundred, so ideally above that 46. So i need to change what ive been talking about here from 45 and a half thousand to our 46 000 level.
So weve increased that by 500 bucks and weve done that, because we now have the low in january before we didnt have the low and were just using the data that we had on the chart, which were these previous lows that were acting as support now flipping To resistance now, from this point on, i guess a lot of people wondering well: are we going back down? Are we going to test these lows? The main thing weve got to see here is: what happens when we get to our 50 percent level, so draw our from our low to our top. What happens when we test 42? Do we start to go back up and form higher lows? In that case, we will potentially take out the 44s and then go on to test that approximate 46. 000 level. Now, if we dont get a bounce off this 42 ish level, then well probably come back down and test the 41. So we may get that extra opportunity to be buying lower the risk at that point around that ‘ to 41 is that we could go lower and break down from ‘ 000, and that would give us a next low point of around 36. So this is the tricky part when it comes to trading and investing its just a matter of risk and reward. Do you take the risk buying now? Is the markets dipping potentially getting some support looking for higher prices, or do you buy now and have to sell out if the market breaks down from the support levels in anticipation for lower prices to potentially buy in later thats? All it comes down to when were looking at our trading and investing.
It is in a similar position, so its just been rejected off the 50 level. So this is of the down range that we had through january and that 50 level is at 3 400. You can see we came right out touched that got rejected now. If we go into a shorter term time frame. Just lets look at from the look at the prices from the low to the top, then the next level is at 31.74. So basically, we just want to see how the market responds to the 50 level. Can it get fined support come back above the major 50, which is around that 52. 83. So call it 3 300 and then continue on to break through that high thats. The best bullish case scenario that we have at this point in time find support, break 50 break the next 50 and through the tops as well, and the downside then like we just looked at with bitcoin same sort of thing, bounce rejection and then we break the Low then well probably come back and test somewhere within that zone. If not well, then we just head further down and look back towards these september lows.