Chart Master: What’s ahead for bitcoin?
hey everybody Bitcoin hitting its lowest level since late February today dropping below $544,000 at its lows of the session the digital currency uh tanking after Mount gaau the Japanese Bitcoin exchange that went bankrupt a decade ago said it’s beginning to pay back creditors in Bitcoin that could result in nearly 9 billion dollar worth of coins being dumped onto the market the Rival ether dropped about 5% itself it has now lost more than a quarter of its value since hitting an all-time high in February at one point today $170 billion do had been wiped out of the crypto Market but where the coins going from here let’s check in with the chart Master Carter you’ve got a chart of paloa coming to our way yeah and we can move through them fairly quickly there are three long-term charts and three short-term charts but the question is before we look at that weakness to take advantage of a weakness to stay away from it gets down to that it’s one of the other let’s figure it out together this goes back to 2015 15 Bitcoin at 200 now let’s annotate it first chart second chart you can see the lines are well defined you can call that an ascending triangle you can call it whatever you want um but we know that we attempted to break out third chart and we didn’t now the question is do we drift back to the uptrend line and that’s perfectly tolerable normal um or is something worse a foot let’s go to the shortterm charts and try to figure it out so here is just over the past two years uh let’s do the same thing let’s annotate it and put some lines in those are mathematically parallel uh Lines Tyler and uh we are down to the lower band of this welldefined channel from which we’ve moved 18,000 to almost 70 and so my hunch here is that you buy this dip uh it should be noted that since January 2023 to present we’ve had six 20% plus sell-offs this one is 27% my hunch is it’s weakness to take advantage of rather than weakness to stay away
Carter Worth, Worth Charting, talks Bitcoin technicals as prices waffle.
27 Comments
<<Your explanations are clear and straight forward It's always a honor to have you here as a mentor, I appreciate you for the time being spent to educate us financially. Regardless of how bad it gets the economy, I still makeover $28K every single week. I truly value Laura, and her helpful guides.>>>
I'm considering a review of my $60K portfolio allocations, particularly in light of the pause in interest rate hikes. I'm eyeing some high-risk, high-reward opportunities. Crypto and emerging markets seem intriguing. Anyone else exploring these?
What’s next for BTC? New ATH’s and less supply
Those charts are horrendous and misleading. Useless price scale and no actual details
The sell off doesn’t make sense. Buy the dip
😂😂
You would be a fool to invest based on somebody else’s instinct
What I don't understand is, on one hand we are told the stock market will crash and yet on the other we are told ways of investing in the stock market. Oxymoron or paradox? I'm considering investing over $300k, but I'm uncertain about risk mitigation strategies.
Is this two year chart based on daily or weekly?
The “have fun being poor” crowd are awfully quiet lately. At least we know it can’t possibly go to zero. It’s literally been a store of wealth for thousands of days 🍿
Less money in people's pockets means lower prices for pet rock stuff, why are people even surprised is beyond me
He technically correct because bitcoin will bounce up from the lower support band.
How about you label your y-axes as being logarithmic?
🐦⬛ 🔪 Crow with knife ain’t worried 🐦⬛ 🔪
Bunch of weak hand jeet sellers lol
Tanking? Is this guy high? 40% fluctuations happen in bitcoin bull markets. This is a sneeze, not a pneumonia.
M2 money supply is going up forever. That is why Saylor will be buying the top forever Laura.
No way biggest support for bitcoin is 44k look at the chart for yourself
Going to 15k again
The 'Chart Master' hated on GOOG, MSFT, AMZN as part of a 2023 start of the year episode… they've all rocketed higher nearly every month since. Take buckets of salt with this prediction/bet.
lol, give us more of your money to steal
Bitcoin is nothing but an expensive pet rock… minus the rock. Seriously, it can never actually become a real currency. If the world decided to go this route they would have to create an entirely new version of the bitcoin. One that hasn't been distributed yet. Otherwise, people who had bitcoin already would own like 99% of the planet's wealth. You think current billionaires, etc, would be okay with that? Hardly.
Countries would also want a version where you couldn't have people mining it… seriously, that is just complete idiocy. That whole mining thing is like they are playing the world's most boring video game and are trading the coins they find in game for real money… just like people do in other video games.
1 billion dollars a bitcoin is ahead for bitcoin. Ignore the nonsense buy bitcoin until 1 billion per bitcoin. Keep buying no matter what the price.
Falling knife
Tragic. Obviously, the ETF hype has worn off, which was the sole reason for BTC's rise into March. Crypto has no "Use Case", i.e., no value to society other than speculation and dark money transfers. Traders are FINALLY figuring this out = continued selling but with sharp counter-trend rallies, typical of a bear market.
wow chartmaster is right..buy the dip
The executives of those tech giants must be idiots. Instead of directly donating money, Worldcoin hires executives from Apple, Google, Meta, Tesla, and X in a meaningless project. They end up telling people they work at a company with no value.