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One thing we can all agree on is that The cryptocurrency space is not lacking Drama over the weekend usdc depeged from Its one dollar price tag going as far Down as 33 cents against the US Dollar On binance this is of course on the back Of the Silicon Valley Bank going under So let's look at what this means to the Market now as Bitcoin investors are Essentially at their Breaking Point many Believing that the market must go back Under 15 000 for Bitcoin but of course We continue to see the market hold up at Key levels so what is it going to be Let's find out where the breaking points Are for the market this week as we cover The DPAC on usdc look at these stock Markets the US dollar Bitcoin and of Course get into some ethereum as well so If you haven't already make sure you do Smash up that like subscribe to the Channel this is your home of macro cycle Analysis where we cover everything from Cryptos to stock market and the biggest Of them all the real estate market okay Guys let's start with some of the Breaking news over the weekend Circle Issuers are looking to Peg the US dollar Stable coin again so briefly what's Happened the stablecoin usdc is no Longer one dollar Circle who is the Issuer of usdc says that they will stand Behind usdc and cover any shortfall Meaning that it's almost a sure bet
Almost as sure about to be buying usdc Now and then looking for this Market to Regain its one dollar Peg back here Which is about three three and a half Percent down from where it currently is This is what many investors Traders more So have been doing over the weekend you Can see usdc against tether on binance Got as far down as 82 cents currently at 95 and a half cents so buying usdc now With UST Could maybe get you four and a half Percent return if this in fact does come Back to the peg that is what the company Has said but like we know what the Companies say and what they actually do Could be two different things which is Of course leading the entire Market to Breaking points with the Bears coming Out in full fledged attack over the last Few days Yellen rejects Silicon Valley Bank bailout so this is where the crisis Started with Silicon Valley bank now Only a small fraction of usdc was Actually held with Silicon Valley However I believe this news is still Trying to circulate to the masses as Many believe that the connection alone Is what could make usdc fail but on Different calculations somewhere between Two and eight percent is held with Silicon Valley which of course has gone Under so we don't know whether they're Going to get a payout of this two to
Four percent but nonetheless what Circle Has said is that they are going to cover Any shortfall that is remaining for usdc So as that comes to light more news Comes out we could probably or possibly See the usdc peg return back to one Dollar this of course has led to more Fear in the market which is a fantastic Time for Traders because we are getting Extreme volatility and if you are Interested in trading there's a shill to Our own trading groups link is in the Top of the video description here get Trading now with our free trading Strategies check that out if you are an Experienced Trader don't go and get Yourself wrecked we've had some great Profits over the last few days as well As guys have gone from shorting the Market to now longing the market on this Bounce so well done to these guys here Making extra profits as well so with the Fear at this point this is the exact Level that we've been watching for the Fear and greed to come back and re-test Essentially it's a reading of how Fearful the market is compared to the Price right now we are seeing uh we saw It just break out and right now we're Seeing it come back to retest the Downtrend now it's a squiggly line there But essentially you can see that the Market has broken out and is coming back We're looking at a zone between 30 and
40. as a reasonable place to find a low On the market sentiment so we've got to Keep track of what's going on in the Price now if we look to the bottoms here The bottoms are still getting higher This isn't always going to be the case Because of course this reading only goes Between 0 and 100 so we have to just Read it in relation to what's going on Now for this particular analysis and Then of course we can always look back To see when we're the most extreme times What has happened at some of the Turning Point times and then of course uh The Other Extreme times to the upside so in Terms of the downtrend you can see that We've come back to test that that was Pretty much likely especially after we Got the rejection at around 60. the Other level that we were looking at Because what's happened in the past is That we've seen some rejections at these 60 levels so it's yeah get to be seen Whether we do hold out at these higher Lows or come back a little more but Still hold out at a higher low above the June level which has been a key bottom For BTC at that 17 and a half level so Right now this is all going to plan in Terms of Market sentiment because of the News that has come out the market has Obviously got more fearful this is going To change today we're at 33 right now We've got a few hours to go so let's
Keep track of this and see just how far The market sentiment drops after the Weekend and after BTC pumping and of Course the most important one here is The S P 500 we have had some extreme Days bears taking control big big news Of banks failing and other companies That people had never heard of before Until this announcement so keep that in The back of your mind as we go into this Week and next week with some more of the FED announcements that are coming up Interest rate announcements and other Meeting news as well right now in though In terms of the price just the facts on The chart right here we are still Holding above the 50 level previous Support levels back in December which I Have here as first support you guys Would have seen this on the chart Already and then we're still above the Cycle low of October and the second Support level here of 3600 so basically We're still above 3 500 3600 3800 Currently sitting around that 3 900 Point level but these are key levels Back here on the chart but the news and The sentiment out there especially Across crypto Finance Twitter and crypto YouTube and anywhere else that you can See crypto all the markets you would Have thought that the market would have At least broken down from the December Low by now which is a very key area on
The chart at this point and also Possibly broken down from this level With how extreme the noise has been Around the Bears now of course the other Side of this story is this is just Getting started just white we'll see What happens but what I'll leave with You here in terms of reading the data is That if we don't start to see some Breakdowns of these key levels Especially with extreme news and extreme Market sentiment it's going to be much More difficult to break lower prices if There isn't the extreme fear around it Is pretty much that simple to get people To sell there needs to be something Extreme there and if we lose that Momentum of the extreme news and the Extreme noise and the fear we're going To lose momentum of the downside Pressure so let's continue to watch These key levels on the s p on our major Stock markets the NASDAQ the Dow Jones And also check out what is happening With the US dollar now as the week Closed out last week we've got to fall Back under the key resistance levels of Around that 105 level we still haven't Completely broken down from 104 yet so Maybe we're just just building another Cause here to then pump and try and test Some of these higher prices nonetheless The View Still Remains that this is a Bear market and this is a rally in a USD
Bear market so essentially this is the Rally that is anticipated from this Pretty big decline in the US dollar that Leads us over to bitcoin which right now We're still about three hours out from The weekly close but starting with the Daily here this was the extreme news Here this was Thursday 9th of March this was the day That we heard more about the Silicon Valley Bank collapsing this day here on The 3rd of March was the Silver Gate Collapse approximately four and a half Percent on the day but the the total bar Itself somewhere around 6.3 so the day On Thursday we had a top to bottom of About nine percent but the overall loss Within the day after we close up a Little higher was about 6.2 percent so Far two days bar on the index which is a Total of all of the other markets out There for the Bitcoin price this has Actually just exceeded the top of that Extreme fear day this I want to see it Close above these levels anything Closing above 22 000 is going to be a Key level for the Bulls now we have seen Some extreme volatility coming in from This particular low with some reasonable Volume as well and of course anything Can happen leading into this close but If we do start to see the close at Around these levels especially above the 50 level with this higher close that
Bearishness that extreme fear that we Experienced over the last 48 to 72 hours May in fact just be a whole ton of hot Air I might be getting in there a little Bit earlier with my opinion but in terms Of the chart what we want to see in in Terms of the facts themselves is a nice Solid close above 20 368 call it twenty thousand four hundred And then if we start to close above These swing bottom levels here at 21 370 So basically 21 4 two easy numbers to Remember twenty thousand four hundred Twenty one thousand uh 400 this is going To make the downside that brutal attack To the downside seemed like it was all Just water under the bridge in a few Weeks time time I'm going to hold my Horses I hope you do the same thing and Not get too swept up in the emotion and Commotion of what's going on in the Market because we still have not opened The week yet in the stock markets in the US so let's see what happens in terms of What the banks are doing there but Nonetheless this is a good early sign For now three hours to go let's get a Close on the market first before we can Start to really piece together the next Few weeks that's the best case scenario For the Bulls right now for the Bears The best case for them is to get this Market to dump close below twenty Thousand three hundred dollars a close
Below twenty thousand three hundred Which is essentially this area right Here this is what they want to continue With the weakness just like what we were Talking about with the S P 500 now of Course like I said this can all change Once the Market's open in the US which Is another 24 hours from now and we Start to see markets fall under and any Closures here this is what the Bears Need the Bears must get this to continue Pushing these markets down and Potentially go into another major spiral To the downside so they're all if Scenarios for the Bears for the Bulls Right now this is the best case scenario That they could have hoped for after Such a brutal attack on Thursday and Friday with circle and with the Silicon Valley Bank and on the back of the Silver Gate Bank collapse as well this Is basically turning out to be one of The best case scenarios for the Bulls Like I said still a few hours to go I Need to really Hammer that home because We have seen extreme volatility within The hourly bar here eth is also Experiencing some very strong moves to The upside after hitting dead on 50 with Those extreme bars Thursday Friday both Closing above 50 which is a which is Above 1400 they've also taken out the Extreme noise announcement the news day Of the collapses here from Silicon
Valley Bank this was the Thursday the 9th the top was 1546 the market is now At 1552 three hours to go for a close But the top has broken that top there so From what the market is telling us not Just my opinion which I often will give You at the end of the video but the Market is telling us that it is finding Some strength and beginning just Beginning to shrug off all of the noise Of the last few days the Bears have Really got to get back on that brutal Attack to crush these markets if we're Going to see some lower prices but for Now while we hold up here this is still The June low this is the FTX collapse Low and now we could say that this low Because we have had a at least short Term reversal this is the bank collapse Low as well now we shouldn't get too far Ahead of ourselves because for ethereum It's still underneath its logarithmic Downtrend as well but at least in the Short term it's starting to put in some Higher lows on the back of some really Serious news and if you want to be Putting in some high lows in your Trading accounts this is my dad jokes Segue to our free trading strategies Link is in the top of the video Description make sure you have some Trading experience there to get involved And access our trading strategies using The ganswing indicator and some of the
Technical analysis that I show you on This channel otherwise join us for our Free crypto economic report coming out This week that's going to cover a lot of What's going on right now let's match up That like for pretty much one of your Only macro Bulls left in the entire Market myself and I'll see you guys at The next video Until Then peace out
