MY FINAL WARNING FOR BITCOIN !!!! (Huge Trap)

MY FINAL WARNING FOR BITCOIN !!!! (Huge Trap)

crypto kids welcome back to another
video Bitcoin is not doing too much
today but um that’s that’s that’s all
right we’re going to be looking at the
next 48 hours for Bitcoin because within
those 48 Hours Bitcoin will likely have
the most amount of volatility it
experienced in the past two weeks and
this is because we’ll have firstly not
the fomc event but we’ll be having the
Hong Kong spot ETFs launching tomorrow
now people are overhyping this like
crazy so I will be debunking it and try
try to explain as much as possible why
this is bullish for the macro but in the
short term it will probably not be doing
too much for the markets in fact FC will
impact the price more so than the Hong
Kong spot ETFs and this is going to be
taking place Wednesday night in Dubai
time I will be live streaming this as a
whole so the entire event the interest
rate announcement um and yeah basically
the whole shebang so turn on the
notification Bell this will be pretty
big in fact it’s probably going to be
the biggest fomc events of all time
period in like the past let’s say one
year because inflation is rising
inflation is rising while there is high
interest rates people can’t pay off
their credit card debt people can’t pay
off their houses so we are in a very
tricky situation but apart from this we
have a couple more breaking news
regarding the ETFs regarding ethereum uh
and of course macroeconomics to end
things off so stay tuned subscribe turn
on the notification Bell leave a like on
this video that would be super
appreciated uh but as usual let’s start
off with the short-term analysis for
Bitcoin then we’ll go into the macro
analysis so on the 4H hourly time frame
Bitcoin is creating lower highs this is
not great I mean we had the rising wedge
for Bitcoin we had double top at the
$66,000 resistance level and we broke
down to hit the first takeprofit of this
Rising wedge now usually how Rising
wedges work they break down and they
have multiple take profits so the first
one the first one would be at this
support at 66k exactly and then you
could put another one at 64.5 and then
another at 61.7 and a final one at 60.1
this is just to teach you how a rising
wedge works you usually take you can put
multiple take profits at different
support levels and a trailing takeprofit
would you know be the best in my
experience to use for a rising wedge now
in the past video we discussed this line
of support and of course the one below
if 61.7 broke towards the downside we
can see here that in the past 8 hours
Bitcoin did touch it exactly hitting
61.7k now in the short term Bitcoin is
trying to form a falling wedge so we had
a rising wedge which is bearish and now
we’re trying to form a falling wedge
which we’re trying to right now break
towards the upside are we going to break
towards the upside I think uh you know
we will definitely see it in the next
upcoming few hours I’m not going to be
trading this even if Bitcoin does break
upwards uh because I think the FMC event
will be so volatile that um I’ll just
sit back and observe I’m already in long
position since 43k at this point I’m not
planning on entering new trades until I
see some sort of confirmation but if you
are a scalp Trader then um you know I
think if we break up we’ll probably go
up to 64.5 and the market will wait for
fomc but just keep in mind that volume
is incredibly low and volume predicts
price when volume is low and the price
is in a downward Trend usually price can
drop even more I’m just waiting on the
daily time frame FR for Bitcoin to form
actually a double bottom I think in this
scenario a double bottom would be so
perfect um maybe if I remove everything
it’s going to be clear more clear to see
so if Bitcoin manages to form a double
bottom we come down to
61.2k then we bring back ourselves up
towards this neckline retest 66.7 again
break towards the upside I think that
would be a confirmation in my end that
Bitcoin is back into bull mode but if
this does not happen and Bitcoin revers
and continues reversing downwards that’s
the point where it’s going to be getting
concerning we’ve already retested this
2015 support line so that’s super
bullish if we keep it up if we break it
that’s the point where I’m going to say
okay this bull market is over that’s the
make or break point if Bitcoin after
testing it continues Rising then I’m
expecting a 100K Bitcoin we can see here
in this bull flag bullish pennant we’ve
almost come down to the support So
Bitcoin really has to create create a
double bottom here break Above This
neckline test this upper bound
resistance and then continue on to make
new alltime highs that’s the ideal
scenario the moment we break below from
the support then it’s game over for
Bitcoin then we could be even expecting
a $50,000 Bitcoin of course we have a
couple of support levels support levels
in between but $50,000 is where we saw
major support for Bitcoin all the way
back in February of this year so that’s
what I’m looking out for in terms of the
macroanalysis but ethereum is super
interesting because ethereum went down
all the way to $2,800 now we’re back to
3.2k and this is because of the
fluctuations in news for the ethereum
spot ETFs that’s coming up in May 23rd
as a matter of fact we can put a
vertical line for May 23rd because that
is when we’re expecting the spot um
ethereum ETFs to hopefully be getting
approved but unfortunately it is looking
highly unlikely due to the latest news
about ethereum being classified as a
potential security that um the SEC has
been kind of investigating since March
of 2023 that’s not a good thing Eric
balchunas is not expecting an approval
for the ethereum ETFs this time round in
fact even James is not expecting an
ethereum spot ETF approval both will be
expecting lobbying from all the big
institutional firms and in 2025 it is
more likely to see an ethereum spot ETF
approval but they do still have like a
25% chance of these actually getting
accepted on May the 23rd I just wouldn’t
be getting too excited for it to be
honest I think if Bitcoin follows the
S&P it would be super good for us uh we
have earnings week this week so all the
big companies Apple included they’re
announcing their earnings reports all
the tech companies are 80 90% reporting
bullish earnings and that is what’s
pretty much driving the S&P towards the
upside as you can see the S&P 500 had a
dip so we did have this correction on
the weekly time frame if we go to
bitcoin’s weekly time frame we’re seeing
that similar correction after a large
upwards move so I would say Bitcoin and
the S&P 500 are relatively similar in
terms of price action uh the important
thing is Will Bitcoin be able to bounce
like the S&P 500 is doing or will
Bitcoin be trapped in this bearish
momentum and kind of break its
correlation with the S SMP I do have a
metric that is suggesting thing uh that
we could be potentially following the
similar Trend with the S&P so stay tuned
until the end you do not want to miss
the macroeconomic updates the reason why
Bitcoin is seeing a smaller push towards
the upside is because the Dixie is
falling remember we talked about the
bearish Divergence forming on The Daily
time frame for the Dixie and how the
Dixie so the dollar value tends to
decrease pretty fast and pretty severely
after forming this bearish Divergence
Bitcoin is inversely correlated with uh
the dollar index so if this continues
falling then Bitcoin will have an
increase in the shorter term time frame
but the fomc starting off with the fomc
it’s going to be pretty important as I
said we have the inflation that’s been
continuing to go up regardless of high
how high the interest rates are
continuing to stay so there would be one
particular thing that I’d be looking out
for during this fomc conference and it’s
that if the FED share will hint um a
possibility of interest rate hikes if
the market gives any sort of sentiment
that the the FED will have to have
interest rate hikes to reduce inflation
then expect every single Market to
correct now looking at the Hong Kong
spot ETFs why is this not as bullish as
everybody’s predicting it to be people
are expecting hundreds of millions of
dollars worth of inflows now a couple of
weeks ago I was super bullish on this
particular News until we found out that
Chinese local investors are not able to
invest in these ETFs we were so bullish
because we thought that Chinese locals
would be able to buy these Hong Kong
ETFs but that’s not the case um it’s
it’s pretty strict and um the entire
Hong Kong ETF Market is worth $47
billion if we go to the US the entire
Bitcoin Holdings through institutions
look only Bitcoin Holdings not like gold
or anything just the amount of Bitcoin
held by institutions by Black Rock
Fidelity Etc is equivalent to the
entirety of the Hong Kong ETF market so
we’re not going to be seeing crazy
inflows it’s not going to be happening
in the longterm super bullish I mean we
can see that even in Australia now we’re
trying to see these ETFs get approved
and launched we’re trying to see it in
Singapore which would be fantastic like
Singapore would be next level but you
know we can we know that the entire ETF
Market in Hong Kong is actually smaller
uh than the entire Bitcoin held by
institutions over in the US so don’t
expect anything too crazy
and the Bitcoin spot ETFs by the way
speaking of ETFs over in the US Black
Rock has not been accumulating any
Bitcoin for the past 3 days
consecutively is this bad why is this
happening well the first thing is first
Bitcoin has been consolidating Bitcoin
has been choppy and the only way that
the ETF issuers purchase new Bitcoin or
sell Bitcoin is when there are new
shares required to be created or Shares
are required to be destroyed now why
does that happen see the entire purpose
of an ETF is to track the price of the
spot commodity so the ETF is going to
try its best to follow the price of
Bitcoin in spot and to do this it’s kind
of like a um think of it as like a
Bitcoin mathematical mechanism where you
adjust the um how tough it is to mine
Bitcoin it’s a similar thing if there is
excess of demand for these ETFs let’s
say so many people want to buy I in
simple terms then what Black Rock has to
do with the aps the authorized
participants they need to create new
shares right to kind of match that
demand and to create new shares they
need to buy more Bitcoin the same thing
goes if Bitcoin goes down if a lot of
people want to sell their ibit shares
then Black Rock will therefore destroy
shares and then sell Bitcoin to
compensate for that that’s how the
entire system works if Bitcoin goes up
we will see inflows if Bitcoin goes down
we will see outflows it’s more likely to
see inflows compared to outflows because
it is a new ETF but keep in mind I mean
yesterday there’s around 3,500 ETFs all
across the United States 2,9 and3 of
them had exactly zero flows so it’s
something completely normal do not be
scared yes if we do see outflows from
Black Rock which would happen if Bitcoin
sees a crash towards the downside uh if
that happens then Black Rock will
experience outflows it’s likely and Will
the Market Panic yes the market will
likely Panic if Bitcoin Falls below 56k
then it’s like 52 50k but if 56k holds
then it’s like the final final by the de
opportunity so I would be looking out
for that really it’s just how ETFs work
so nothing super crazy to be concerned
about so the ETFs are coming to
Australia that’s amazing uh I’m not
exactly sure how big the ETF Market in
Australia is I really don’t think it is
a huge Market overall we can see that
Asia Pacific is $233 million so I really
don’t think it is a massive Market but
still whatever inflow we do see is
something right it’s profit now if we do
get an ETF in Singapore that’s when
things get interesting because it is the
biggest Financial Hub in Asia overall
but this is still in the very early
stages if there’s any development
whatsoever I will be alerting you over
on the crypto kit channel in terms of
macroeconomics we’re seeing that the m
too so the amount of money in
circulation alongside the monetary base
the the total money that people um
across the US have including the loans
of banks held at the central bank if I’m
not wrong this is going back towards the
upside so in 2021 November the amount of
money in circulation was at an all-time
high
coincidential time high the money
circulation going up means that
evidently more people have more cash at
hand so they can make more purchases
right but I think it’s a bit skewed I
think this includes the banks more so
this time around compared to 2021 in
terms of how much money is held in these
institutions so the monetary base going
up means that people have more money
hence they will likely invest their
money into the stock market but as I
said I don’t think this is the people
particularly I think this is the banks
um and the reason is like 43% of small
businesses in the US are not able to
fully pay their rent in April and and
that’s the highest since March of 2021
delinquencies are ac across restaurants
were 52% um and it’s just going to Crazy
amounts and to me it’s looking very
close to what happened in 2008 we’re
seeing the median sales price of houses
increased by 60% since 2014 so in a time
where median price houses are increasing
uh at the same time where new home
supply is also increasing and in fact is
at the highest level since 2008 because
home owners are forcing are forced to
sell their houses because the the
renters are not able to pay rent right
um and people just can’t afford any of
these things so I think we’re going into
a massive bubble similar to what we saw
similar the same same but not the same
since uh since 2008 and uh I think we’re
just going to have a huge crash and if
we do have a huge crash then Bitcoin
will also have a huge crash it’s going
to affect everything there’s no
exception it’s just that Bitcoin and
gold will probably recover the fastest
so if you do want to keep some cash on
the side of course nothing in this video
is financial advice I’m doing it like
20% of my portfolio is in cash right now
just in case we see a crash in the
markets I will take that opportunity to
buy as much Bitcoin as possible but of
course this would be a huge external
event if we look at what’s happening
with Bitcoin it’s unlikely but if the
economy continues going in this way if
National B continues to increase then
it’s just going to be inevitable but
guys and girls thank you so much for
watching this video video I hope you
enjoyed it it took a lot of research
it’s like
12:30 a.m. usual for the crypto kids
Squad but hey I like the video I hope
you liked it at the same time let me
know in the comments section down below
if there’s anything in particular that
you would like me to take a look at
tomorrow or the day after I will
probably make a video definitely for the
Hong Kong ETFs and then we’ll go live
for the fomc so I will be waiting for
you guys have a great day take care
everyone and I’ll see you all very
shortly bye-bye guys

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MY FINAL WARNING FOR BITCOIN !!!! (Huge Trap)

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Timestamps:
00:00 Overview
01:32 Bitcoin Analysis
05:01 Ethereum
06:08 BTC vs. Traditional Markets
07:35 FOMC
08:09 Spot ETFs
12:26 Macroeconomics

#Bitcoin #Crypto #Trading

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