a traitor's lord, reigneth i've been crypto calm your number one source for
Cryptocurrency, technical analysis and news in this video we're
Gonna, be taking a look at all the altcoins taking a dump right now which is okay?
And we're just gonna go into the reasons maybe, why, this is happening if you enjoyed this video please hit like
And subscribe hit that bell below
So, yeah, we're gonna get this started
Alright, guys, so i'm just an arrow. Pulled up right, now i'm gonna be scrolling through these relatively quick just to show
You the overall market
Climates that's occurring, right now we're seeing a change a shift
There's a good reason, why last night bitcoin, broke out of a very very significant resistance
We had the boom, we went back to arithmetic scale we got off a logarithmic scale, we saw, some very telling things, we saw that?
we had a, huge downward
Falling, wedge excuse, me i'm i should go to a real quick
yeah
Alright so hmm i mean my, adjustments, we see here's our top every, topic. Like, the
19900 level here, we made our lower high and here we are again
We tested real quick almost tested and now we've broken through in the past
16 to 24 hours or 16 to 20 hours we've broken through very significant when you see
Significant breakouts like that a lot of things can happen
it makes institutions
Governments. You know anyone that's participating in this market if they're watching, these trend lines they all see it they
Say wow this is a a serious?
Trend reversal, so what happens that's what happens when, we see serious trend reversals with the one coin
To, rule them all this is what, we see i see x?
Breaking key levels of resistance we're. Below. The
See the swing low of our targets because, we were looking for a breakout now, we would have to draw
Different bids, we have to look for support fibs
So i would say not this one i mean we could he just i think this will be like the swing low
Right here would be best pulling this all the way up to our swing high
So what are we doing right now on the support fibs, well look at that it's it's a magic
Guys, it's always magic, we're testing this 886 we fell below it but
We bounced right above and now we're touching it now we're right on it so, we can't hold, that level timber guys constitution
Value it's gonna, go down, but the only optimism with all this occurring is when
Bitcoin increases in value it increases the valuation of all the alt coins
And you know u.s.. Dollar value so that's that's good so you know
This, isn't really getting into a technical analysis of all these. Coins i'm just gonna kind of go and show
You, what's happening, hey, here's trx here's everyone's a, baby right up trx, do what we talked, about last night guys i think
We were touching this level i said if we crack this
We'll see the seven eight six or i'm starting out in senate i saw. This blue on and i uh immediately
So i thought i was looking at it's amazing, sorry this is a key trend line i just drew and then below
That, we would see that 100 percent retrace?
Of our support so
As you know this is just normal, we have we call this wealth transfer
we have market rotations wealth, when large amounts of money see key breakouts in
Other markets, which we could could you know you can consider bitcoin. A different market of all coins right a, different sub sector of coins
People are gonna start flooding, their money into those breakouts into, those huge turn reversals because that trend line
Was such a, mega resistance when you break that
It signifies a lot of good things a lot of bullish things for bitcoin so
C and d it's just been doing the same thing it hasn't been not affected yet but it's look it's making lower
Highs, lower, lows it's testing the hardline right now that's the fault, we can't break, above this to make more higher, highs
We will be seeing the 786 and then lower we go and right now, we are in no-man's land, we will almost certainly see
1325 satoshis from where, we are now, so moving on here's bitcoin
Again it's test testing that key resistance cuz. You know
You're, gonna constantly be seeing more more resistance it's like, after this one after the resistance breaks here then we're
gonna See the the 50% retrace at twelve thousand seven or twenty four i mean which is pretty close to being confluent with
this resistance up here you know 12 13
Thousand, we're gonna see after 13 thousand that we're, gonna see a smaller resistance at 14,000 261 in the 382
The level and so on and that's how
it works guys you you have to constantly
Be watching the charts to see the the development and how the candlesticks respond with certain resistances so
Like coin, by coin, is almost in the same sub sector of bitcoin. Right just because it's a forked bitcoin
And it's it's price action almost always, mimics bitcoin, so great looking good testing that heart line
After the break out of that bullish pennant moving on aetherium starting to break down it's not so
You know relevant in terms of price action with bitcoins, so it's starting to break
Down it's made of lower high and now it's unable to hold
Above the heart line and now it's about to test the fit dma if we fall below
The 50 ma, well we're gonna see lower prices we're. Gonna go down, to the six one eight level the 825
825 dollars moving on
Us look, look at that guys, we talked, about it last night the livestream for a
While i've been doing analysis on this i've been doing analysis since we broke out right here it's done everything
We said it would do based on all the indicators below all three
Mas we're fanned out we're extended we're on a real big bear run, right now
We have tested 100% retrace from top to bottom or bottom to top
Excuse me on our fibs and so now, we are breaking through this very key support, also so but we talked
About it last night what
We are most likely almost certainly gonna see is a test right here next which is gonna be 71. Thousand you know
50 satoshis
Mmm and then you know, lower prices from there but it makes sense because, we had no consolidation levels here, we had no real
levels of support
Guys, we talked?
About via the analogy last night kind of like the more
Consolidation you have the stronger the foundation of your house so if you have weak levels of consolidation, like this
Then you're, building the foundation to be like plywood or just plain wood but then, when you have levels of consolidation
Like, this, you're, building much more powerful levels of foundation, like, this, would be considered
Concrete or a brick or steel or metal right so we're probably going to see these levels again, at, some especially with
This, wealth transfer that's going on this rotation market rotation, we see it all the time you just have to pay attention that's, why
You look at a bunch of different charts and you see the macro
You, see the overall change all all coins right now we're bleeding out so
We made the joke last night this is the inverse moon
Okay, it's not dumb, moon it's the other man the moon that is the opposite so
Hey, guys, we're just like kind of going over just you know
What's happening with, these all coins right here, we have one coin it fell below. This you know, this key support level, oh?
I made a trend line right here
Just a little bit to make it perfect
There we go?
So we're right at a key support level if we can't hold, this guys we're
Gonna, test this week, air support and then we're
Going, to test the six one eight level which is pretty close to this support and then we're
Gonna, make, lower prices that guys begin this, isn't really strong of?
A support it's, okay, but again, you know
hey
you can you can
Live in a trailer or you can have a wooden foundation in your house and it's okay for
The most part most times of the year but, when you get those tornadoes there's really, high winds once or twice a
Year, not gonna hold up and those uh in those winds that we got so, we have?
Confluence of our upper trend line of the downward sloping channel and then, also this key support if we can't hold, this guy's
Timber we're, gonna, see the six one eight we're, gonna see the heart line then we're
Gonna, see the seven eight six and then we're
Gonna, see the bottom chin
Line at the upward downward sloping channel alright so just
Be careful if you're in alts the only upside like i said is while bitcoin goes up in value everything else
You know these, these corrections, we see they kind of get patted because, while they're tanking and satoshi value
They are going up in u.s.
Dollar value to kind of offset those
Big tanks that we're getting right now
So we've been on xrp kind of doing the same thing it's kind of technically in doing exactly, what, we talked
About i mean, we tested this level multiple times
right there
Yep right here so i guess, we were?
a logarithmic scale shit it's a lot, see one to plot points third block down here there arrow, and
What do we do we test these mobile times when you test and you fail like in grade school you get held
Back but not only but on the charts. You, don't just get held
Back you go back to grade you go back multiple grades and your see if you're, below, all three, mas that's really
Bad that means you you're a dunce as a candle right so we fell below, the 786 like of course, we thought
We would we are getting a little extended from the amaze, which at
Any, time would you come back to bounce to touch this just to make that lower, high just so we could cool
Off in the rsi, for the bear right now we're currently at
18 so that's that's really really oversold we're seeing, some at. Some bullish divergence
This thing right here always bothers me so see, we have lower levels of negative momentum
Coming into play but it makes sense just because of how, oversold we're starting to get so
We are testing this really weak level of support the next support, would be right here eight thousand
Five hundred twenty-five satoshis it's not going to be very strong, and then our stronger support will be at the eight eight six
Which isn't very strong and so guys, what are, we talking about when, we had those storms
we need
Good levels of consolidation good levels of consolidation this is like steel right here your foundation
This is a little bit weaker levels of?
Foundation and support so we this could be okay though we'll see but chances are based on where we are right now
Right here we're probably, gonna see these levels so just be careful
moving on
You know looks, oh?
Check out flawed skill quit
Look, at that look at me i did all right nia being
Good, guy, good guy in the air right here fallen, below
The key trend line right here of our third plot point on our upward sloping channel and now we're right there at it
So this is a nice wick
But this is the for our chart so we've got a lot of time to play out to see what happens so you just got
To, keep your eye on guys
virg
You, were in the trade
You made your money
If you, were conservative you were the real winner here because you completely exited your position at the 50%
Retrace and so now we're making lower. Highs, and we are testing the 236 and we're actually falling below
that 236 now, so that's no good next the next target, would be this heart line, and
this
579 580 satoshi level and then from there who can, whole will be going for a 100% retrace from top to bottom and then
we will need to redraw our fibs to check out see, where the supports will be
Linked same thing talked, about it last night look
What happened if you were a conservative trader you were out 100% right here, way, back i mean not way back you know
February. 13th great job guys but if you held, strong and you, had you
Still had your limit sell up here the 61 eight you were in the money you got filled up and
you
That, was an incredible trade right you took your profit here and you exited your the rest of your position right here but now what
Are we doing we're doing exactly what
We thought we'd do we got close to touching the you know upper trend line of the upward sloping channel that
We drew and we're ultimately making lower, highs
so
Although, hey, you made a higher, high here you, still made a
Lower high then this right here so until, we get over to this position up here
Sorry, guys it's a overall bearish for now
And we're, also tanking so hey look
Look, at po guys totally broke out it gave us a nice head fake and now we've fallen to test this upper trend line
We can, see some respect
Right here one time but then, we fell below?
While the market rotation occurred money starting to most likely flood into bitcoin and litecoin so we're below
This our next target will be right here
Strong level of support
553 also i guess, we could, test this week level two of support at 594 but chances are we're, going to the 786
520 saito c's. And let's move on a da doing exactly what we've talked, about their analysis, we knew
We will be touching this heart line, soon just because, we here's the six one eight, we failed to stay, above it were below
All three mas it's a bear run it's very very bearish
We are ever sold on the rsi seeing a good bit of bullish divergence that's good but it only makes sense because of how
Oversold we are?
Then are we at?
We all, we still didn't touch exactly the you know, no one got filled here if they, had their limit sell
We almost touched but if you had a conservative limit sell you may have been filled and gone out of your position but
Look, like all the other all coins right now
Big sell offs that's been recover that last night and in a video yesterday if you didn't see it check it out
Omg, we got a?
You know what i'm just gonna stop right there and get ahead of myself because i did a lighting analysis on omg and?
- today, so i'm just gonna leave it there but, guys just hope this video helped
You, understand what's going on with the market right now so until next time stay high
you
you
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