Bitcoin [BTC]: Momentum Is Shifting In Crypto! This Is It.

Bitcoin [BTC]: Momentum Is Shifting In Crypto! This Is It.

[Music] Trends are down across the board for cryptocurrency and the Market’s now at risk of a further 20% decline but in my opinion that is the worst case scenario as the macro Trends remain extremely strong as does the bigger picture cycle so in this video here we will be reviewing the shortterm stepping it up into the higher term time frames and also reviewing the macro Elliot wave cycle which has been playing out almost perfectly throughout this entire market so far and there’s no signs that this is breaking down at least not yet now before we dive into all of the charts please remember that I’m not a financial advisor so always do your own due diligence and research and past results are not indicative of future performance okay before we get into the macro stuff we’re looking at the total market cap the risk of a 20% correction further 20% correction from where we are and of course the bigger picture cycle I’ll start out with the US dollar just really quickly we saw a very strong session uh in the last 24 hours and what I’ve been saying with this chart here it’s going to be really difficult for us to see sustainable uptrends in crypto and other assets pricing dollars while the US dollar is still holding strong because of that inverse relationship so I am fishing for a macro lower high right now potentially we have seen that on that last Hara push up but until we really get those confirmation signals by the way of a larger breakdown with some weekly closes and lower highs beneath around 105 the jury is still out because we are still printing higher lows for the US dollar so I will continue tracking the US dollar really closely for you guys because while we are just stuck within a range with no definitive breakdown signal it will likely continue to give cryptocurrency and of course Bitcoin and higher prices a very difficult time which is what we’ve been seeing over the last few weeks of course over now to the Bitcoin chart on the 1H hour time frame we did see Trends continue lower after retesting our trend line from the underside and I’ll just draw that for you so you can see what I mean we had some short-term Trends turn up we’re rejected at our trend line and we’ve just continued down to our next pivot point which comes in at around $66,667 away from this Pivot Point here which just increased the chance of a further breakdown with that next 50% level coming in at $65,100 so F to see our Trends turn back up now or at least over the next 12 to 24 hours there’s a very high chance the trend will just continue lower because the trend is your friend until the end when it bends and we’re just not seeing that Trend Bend at least not yet that’s why we have to keep looking at those Underside pivot Points now before we get to that $65,100 we could potentially double bottom with that low on the of June at 66k so that’s the next level to watch on that continuation lower if we do in fact break lower now what’s going to be invalidating the bare Market thesis and the breakdown targets is in the most immediate sense getting back on top of that Pivot Point overhead and on top of our trend line because then we’ll be strong on a couple of indicators here and I’ll also show you the lower time frame 50% level which comes from that last Peak down to that last trough and you can see how it lines up very nicely with our trend line of 50% at that even $68,000 price point so any rallies up until this point I’m just treating with caution I’m not expecting anything big out of the market until we can get some confirmation signals on our lower term time frames above 68k but the most important level still does remain to be $69,000 for many reasons I’ve mentioned many many times one of the main ones is it’s the previous cycle top and I want to be seeing price action on top of the previous cycle top to suggest that we are really in an extremely strong Market on our lower term time frames we know the bigger picture is still strong which I’ll get to in a moment but just so we can see those continuations low and just not see the rallies overcome with selling and just really no long lasting rallies at all which is all we’ve been seeing up now to the 4-Hour time frame where you can see that perfect double top at $72,000 now we have seen a breach of the lowest point between those two peaks and in terms of traditional ta we’d now be expecting further downside pressure in the market because we have broken that point broadly speaking we are in a bit of a range so I mean take that for what you will but just looking at something in a very simple form lower prices are likely based on the double top pattern and the breakdown of that low for me I always come back to what the trends are doing and the trends are still down and we’re not seeing buying momentum pick up so again that would be indicating that we may be heading lower from this point forward even if it is just temporary but we’ll have to see what those Trends do and if in fact buyers can step back into the market on a retest of that 66k and if not we know the levels to be looking out for beneath the market now some invalidation levels for our 4-Hour chart this trend line here is still very important to me coming from the first Peak down to that lower high as you can see here we did get some support on the the line we tried to hold above the line but we were unable to so when we can get back on top of the trend line and start to hold that’s going to be some early indications that we are going to be testing some higher prices but still the 69k level does Remain the one to watch here you can also see it comes from that last range down where the halfway point is coming in at 69,000 bucks now if we do happen to Trend lower from this point we’ll have to adjust this 50% tool down to wherever the new low does form but for where it currently sits 69k is it up now to the Daily time frame where you can see the breakdown beneath the previous breakout Zone which is not a good sign for the Bulls we had 1 2 3 we broke on top of the line we tried to hold it we’re unable to hold it and we’re now trending beneath that breakout zone so it is a bit of a danger signal that again is suggesting lower prices but the Saving Grace for the market here on our slightly higher term time frames is our 50% level from the correction from the current all-time high down to the correction low this has been the largest correction in the entire bull market so far halfway comes in at just over 65,000 bucks and we’ve all o got our trend line coming from that last correction low up to the most immediate correction and for me and how I treat the markets I want to see price action hold above the lines to indicate it’s more likely accumulation rather than distribution so the price beneath the market 65k is the one to watch just a little bit above if we break back beneath that zone that could be triggering this 20% correction which I’ll be talking about in just a moment because we would be weak on a couple of significant levels there we’d be weak on our 50% level and on our trend line and we’ll also be back beneath that last breakout Zone so we don’t want to be seeing price action below there CU it could very easily lead to a cascading selloff down another 20% from its current price now there going to be a little bit more evident on the total market cap and perhaps Bitcoin won’t be hit as hard it will more so be in the altcoin space but in terms of the trigger that we’re looking out for it does remain to be true for Bitcoin and also on the total market cap so you can see here on our lower term time frames for the total market cap this is the weekly chart but just think about what the trend lines doing on those lower term time frames from the last correction low to the high low we’ve broken beneath our 50% level from the correction and price actions also beneath the lower time frame trend line just giving us an early lead that maybe the market will be breaking down especially if we don’t see any buying momentum come back into the market over the next few days and like I said in the introduction the 20% draw down from where we are is really the worst case scenario that I can currently see in the market I just can’t see why there’s any reason based on the market structure and the price action that the market would head down any more than 20% for our total market cap in the event of a further sell-off but of course we’ll have to reassess if and when the time comes and if we actually get that sell off cuz remember it’s worst case scenario I don’t actually think this is going to be happening we’ve also got a previous level to be looking out for beneath the market at around 2.25 trillion for our total market cap if we do see a bit of a flush out down to that zone and then a close back above a 50% level there’s a very high chance that will be the high low off the correction which will send crypto up in this third wave which is what I’ll get to right now in terms of our Elliot wave count so it does appear that we have completed our first wave 1 within our final wave five now I have some videos on my channel to do with Elliot wave and the structure and the breakdown and all of that kind of thing but basically just to strip it right back a bull market would typically have five waves three waves up and two waves down and we are now looking like we have started the fifth wave which we can then break down into five waves as well and just like I was saying before it looks like we’ve completed the wave 1 which means when we get the end of this correction here wave three is typically the longest and strongest just like we saw in the previous wave up wave three was Far stronger than that wave one so there’s a good chance that we’re going to be seeing a much stronger move out in this next leg if when it comes about now I do have an alternate wave count which I’ll share with you guys if and when the time comes and that will be triggered if we get this bigger sell-off to take place but of course we’re not there yet so this is still the most accurate wave C count as I do see it and I’m just looking out for the end of this little correction this first wave two rather the wave two within the wave five of our wave five so it’s lots of numbers lots of counting it only goes up to five but do go back on my channel and watch my previous videos about wave where I break it down in much more detail but I guess the main take away from all of this is if this is still the most accurate wave C or at least it is for me we are looking out for the end of this correction and then for the market to get going in that next leg up now this is just broken down in its most simple form if price action starts to give us a bit more of a complex pattern that’s something I’ll share with you guys at the time or at least I’ll show you the wave count that I am tracking and what’s more likely going to be coming up next and if we do get that 20% breakdown then it is going to be one to watch for that next leg to start in terms of our wave five now I hope I have I haven’t lost too many of you there going through the different wave counts but I guess the main thing to take of this or at least what I’m taking of this is that we’re still in a bull market cycle there’s nothing to suggest we’re at the end of the bull market we will get signals on the chart by the way of the price action if and when that comes about but there’s still no signs to suggest that we’re heading into a bare Market or anything like that for me it’s now looking out for the corrective patterns and then what’s going to be getting the market going in those next impulsive ways and again I’ll come back to this on the channel for you guys time and time again looked at the total market cap the macro cycle and of course Bitcoin in the lower term and higher term time frames and also some US dollar analysis if you want more from us in Tia crypto hit the link at the top of the video description we have a couple of really big announcements so not only will you be getting weekly reports from us about cryptocurrency the economy you’ll also be kept in the loop with what we’ve got going on in Tia you’re not going to want to miss this one that’s all I’ve got for you in today’s market update wishing you more health wealth and happiness and until next time I’ll catch you then [Music]

Join Us In TIA Crypto! https://tiacrypto.com/subscribe/
TIA Indicator Free Trial! https://indicators.tiacrypto.com/
Trade w Bybit, Deposit $100 Get $50! https://partner.bybit.com/b/tiacrypto
Trade w CoinCatch, No-KYC! Deposit $500 Trade $100 Get $100! https://partner.coincatch.com/bg/TIACRYPTO
Trade w Blofin, No-KYC! https://partner.blofin.com/d/TIACRYPTO
Before continuing, read the financial disclaimer & warning below.

UP TO $60,065 GIVEAWAY!
🏅 Bybit, Deposit $100, Get $50! → https://partner.bybit.com/b/tiacrypto
🏅 CoinCatch, No-KYC! Deposit $500 Trade $100 Get $100! → https://partner.coincatch.com/bg/TIACRYPTO
🏅 Blofin, No-KYC! → https://partner.blofin.com/d/TIACRYPTO
🏅 Bitget, Free $30,000 → https://partner.bitget.com/bg/BITGETTIACRYPTO
🪪 Digital ID (✅ Bybit & Bitget KYC Requirements) https://bit.ly/rnsid
🏆 Swyftx Free $20 (Best Aus/Nz Crypto Exchange) → https://bit.ly/42xPq6I
🏆 TradingView $15 Off (Best Charting Software) → https://bit.ly/3O9UoiM
🤝 Trezor Wallet (Protect Your Crypto) → https://trezor.go2cloud.org/SH28
🤝 NordVPN 30-Day Risk-Free Money Back Guarantee! (Protect Your Privacy) → https://nordvpn.com/tiacrypto

MORE FROM US!
TIA Premium (Learn How To Trade) → https://tiacrypto.com/#join-now
Twitter (Market commentary) → https://twitter.com/PizzinoMichael
Instagram (Daily life) → https://instagram.com/michaelpizzinotrades?igshid=MmVlMjlkMTBhMg==
Master Of Macro Analysis → https://www.youtube.com/@JasonPizzinoOfficial

1. I am not a financial advisor. The ideas presented in this video are personal opinions and for educational and entertainment purposes only. You (and only you) are responsible for the financial decisions that you make.
2. Most traders lose money. Trading of any kind is dangerous, and most traders show a net loss over time.
3. Do not mirror trade me or anyone else. Mirror trading is extremely risky (see 4.)
4. Buying low and selling high or selling high and buying low can still produce a net loss over time (position size is a major factor that determines profitability). Always prove profitability in a simulator before trading with real money.
5. If you do not agree to the above or the terms and conditions found here: https://tiacrypto.com/terms-and-conditions/, you should not continue watching these videos or any other information provided in content, videos or sites.

⏰ Timestamps
00:00 20% Down?
00:54 US Dollar
01:42 Bitcoin Hourly
03:36 BTC 4-Hour
04:58 Daily Analysis
06:20 Total Market Cap
07:23 Elliott Wave

#cryptotrading #bitcoin #crypto

Affiliate Disclaimer: Some of the links on this page and mentioned in these videos are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe.