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Bitcoin has been pumping uncontrollably for the last 7 days. Is the Bitcoin and Crypto bull market back on? Let’s discuss key signals to watch for confirmation of the trend changing!
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Can you believe the beginning of 2023 Has now seen Bitcoin pump over 25 In the first two weeks of the year it Definitely feels like we are hitting Some extreme fomo some panic in the Market feeling like a lot of people have Missed out on the bottom but of course This is all part of the bottoming Process we've seen it time and time Again I'm here to calm the nerves of the Pump and just remain stable and cautious With your trading plans around these Lows we've been here throughout the Previous bear Market the pump the dump And now we're here again in these Historical Bitcoin buy zones as we've Been covering here on the channel so in Today's video let's look at where that Extreme pain is for crypto Traders and Is that Bitcoin bottom in what do we Have left to do to be able to call the Bitcoin bottom once and for all if you Haven't already subscribe like do all Those things down below you know the Drill that helps out the channel and Allows you to see this content as it is Timely content throughout the cycle all Right guys these are the last couple of Videos that I suggest you look at after This I'll leave a link to them at the End of this video the reason being is That we have many metrics that we've Been covering here this is your home of Market cycle analysis and of course a
Main focus here is Market sentiment I Get absolutely destroyed in the bull Markets by all of the Opium and the D-gens and basically every other crypto YouTuber out there as they continue to Pump the market but I'm focused here as You guys are as well on the market Sentiment and what we've been looking at Recently looking at our first particular Indicator here our crypto fear and greed Index is the breakout of the downtrend On the fear and greed index Look at that we've hit that we've broken Above and as of today we are now at 46. The call was as we've looked at in Previous videos here uh yesterday we Looked at it and then previous ones of Last week looking for a reading above 40 To break that downtrend so this is that Key downtrend of the market sentiment Throughout the bear market and as you Can see the major fearful time was Around that May June low which came in At 17 and a half thousand we got the Higher low on bitcoin which formed in November and that was at around a Reading of about 20 you know there's High Teens early 20s so the fear in the Market was leaving as the price was Dropping a little further and we called The Divergence in the market sentiment Seeing that many investors continue to Buy just what was on the chart but the Masses were calling for lower prices so
The market feeling out there a lot lot Of people were calling for lower prices It didn't happen so the feeling started To diverge from what was going on in the Price and now we've got that first piece Of confirmation there looking at the Fear and greed bouncing above those First readings of around 30. so current Reading is at 46 today moving forward From this point I dare say we'll have to Come back and retest some of these Higher prices or these high readings on The the market sentiment when I don't Think we're just going to go straight up To a really high price and take out the 30s or the 40ks stranger things have Happened like we saw in 2019 where that Did actually happen run all the way up Into extreme greed within that Accumulation period of the Bitcoin Market and that ran up to 95 in June of 2019 that's where Bitcoin got that 14k Top and so if we are wrong and the Market runs up from this point at around 21 000 all the way past 40K we have been Buying in this Zone we've talked about At this for months and months and months Looking at the Historical Bitcoin cycle Buy zones it almost seems like this has Come true again it's still a little bit Too early as we'll see in terms of the Swing indicator looking at where this Bitcoin bottom could be in but in terms Of this particular Zone which first was
Touched in June of 2022 we're now seven Months from that bottom and what we've Seen in the past is Bitcoin has remained In this zone for approximately between 4 And 10 or so months you can see the First touch in 2014 happened just for a Week or two that was in September lasted A few months out and then dumped back Into it through January and that was Basically at December January period all The way through to the end of 2015 where It finally left the Zone in October and So maybe we come back into this Zone on A Black Swan event like what happened in 2020 maybe we come back into this Zone On a retreat from the current fomo it's Happened over the last seven days of the Market bouncing up whatever the case may Be the point is that we've had to stick To this plan and sticking to the plan Can be extremely difficult as we pointed Out in this video right here going back Over three weeks now I'll leave a clip To that right here so you can hear Exactly what we talked about at that Time and just how challenging buying low Can be personally I like this area for Bitcoin buying like I've got here in my Historical Bitcoin buy zones it's going To be a difficult time to navigate like We've talked about you know since June Which is where this low was the first Low at 17 and a half the Market's only At 16 8 now so several hundred dollars
Lower it's not much has really happened But it's been one of the most difficult Times to navigate because of the extreme Negativity the extreme bearishness and Of course a lot of forecasts of prices Going much much lower so to be able to Hold in there and start to buy and not Wait for those times is quite difficult They were my thoughts a few weeks ago Looking at trying to buy this bottom When everyone else is calling for much Much lower prices that whole 10K thing And you would have seen my titles by now Looking at 10K kissing a good buyer it's Probably over at this stage but there Are still a couple of things that we Have to look at in terms of the macro Analysis here for Bitcoin and in Particular it's the swing chart now We're going to get to That Swing chart On the macro but where the crypto Traders are getting absolutely wrecked Is of course trading short in the market Trying to put short orders in Potentially without plans potentially Without stop losses and what we've seen Over the last 12 hours is shorts get Absolutely wrecked here to the tune of Over half a billion dollars in the last 24 hours basically over 600 million Dollars the majority of this has Happened in the last four hours alone so When Bitcoin gets on a run it goes very Hard very fast always make sure you've
Got a plan and and within that plan have Stop loss orders and of course this is a Great time for me to shill our trading Partners here on the channel by bit and Bitget they have huge sign up bonuses so If you are a Trader hopefully you've got A plan hopefully you're using the ti Again swing indicator to keep you safe In the markets and allow you to Understand where to put your stops and Where safe entry points are nonetheless If you do want to be trading on Exchanges which so far have made it Through this bear Market buy bit big get Links are down below check those out for Those massive sign up bonuses for Everyone else don't worry keep doing What you're doing make sure you've got Plans so that we're ready to go for this Next stage of the bull market now these Swing tops are one major important Factor to determine whether we are out Of the bear Market or still in it you Know basically trying to call that but We have multiple signals here that we Need to check off we need to see this Market break above the previous monthly Swing top that they have been the key Resistance levels in in terms of price And so far that's around 21 and a half Thousand this particular move it's about A hundred bucks short of that depending On which exchange you're looking at on Some exchanges it's a little bit uh
Lower and on others it's broken above That so it's still not confirmed for me We need to see the end of the month Close that will happen in about 17 or 18 Days on the January closing bar of Course now the higher monthly swing top Which I think has far more confirmation On it is the August top that price comes In around 25 200. so what we would need To see in terms of the confirmation on The swing chart is for the monthly to Come up and break this August swing top Now that's that is super important Because any breaks of this monthly swing Chart basically confirm the trend for a Pretty long period of time buying any Sort of fake outs and you can see these Fake ads now yeah like what happened in The the pandemic drop and you can tell That they're a fake out because by the End of that close of the month You can see the clothes basically came Back up to the previous swing low so That's a nice fake out there what didn't Happen as you can see here you can see The monthly swing low the market ran up Again but then broke the swing low In May and closed underneath it and the Market continued down since May so you Can go back again in history you can see Another fake out during this period here In 2015 but basically each of these Monthly swings you can see that it puts In the trend once that trend is broken
Like what happened here in July of 2015 The new trend is on the trend flips Bears to bulls and we go with that next Bull market you can see that in that was August of 2015 the market broke the Swing low and then closed above it so it Was basically a fake out to the downside That one last final dip to get that Cheap Bitcoin and then the market was on For that next bull market so pay Particular attention to this monthly Swing indicator the link to this is in The top of the video description you can Grab it right now Tia again swing Indicator click that link and put it Onto your chart so you can keep track of Whether this Market is flipping from a Bear to a bull or vice versa and it's a Really fair fantastic indicator to keep You safe in the market with those Profits this indicator lets you know Whether the market has flipped so that's What we're looking for here waiting for This confirmation of the flip and then Whether we get another little fake out And then looking for the market to Continue on the flip or that new trend Being the bull trend on top of that we Have the downtrend as well and the Logarithmic downtrend I want to show you This on the daily chart we're getting Very very close to it right now you can See we're probably about a thousand Dollars or so off that particular level
If we're to run up to it today I think We're probably going to get rejected at It for the the first time here you know In 2023 we have hit it once back in 2022 And obviously that final that first hit Was where the the point started from Which was November 21. this will Probably get broken sometime in March or April conservatively speaking maybe we Do it now go really really hard really Really fast and come back and sit on top Of it that would be a very fast move but If that doesn't happen then you know we Could probably see it happen sometime in Around late Feb March or April as the Market continues to sort of trend Sideways after this move if this Corrective move from this top is a Little bit deeper then you can probably Look out further to around May or so That's what we're looking at so far Based on this move that's going to Depend on where this move settles to After the pump is finished ideally you Want to see it now above that 18 and a Half thousand that is a key level moving Forward depending on where this top Comes in so things are looking up for That logarithmic downtrend to get broken Sometime I think quarter one of 2023 if Not call it around April or May so Quarter Two and the final thing that We'll look at here is the timing of the Cycle this has almost worked out to a t
I mean if it remains where it is right Now and the market doesn't break that Low that came in during November then The timing again for that downtrend and Is basically dead on point with the Previous four-year Cycles it's about a Number of things that we covered today Looking at is that Bitcoin bottom in are We about to flip first being that market Sentiment like we've seen in the past Once we start to flip past the downtrend Of whatever's happened in that market Sentiment it's pretty hard for it to Come back within a short period of time Once we break those downtrends then People start to feel a little bit more Bullish again it doesn't mean that the Market is completely over with that Previous Trend but it looks like we're Turning into that next stage of the Trend and that could essentially be that Accumulation you've got to squeeze out All those last people who are hoping and Praying for those extreme low prices That they believe they were promised or They think have to happen similar to What we saw in the previous cycles and For this current cycle it's like that Ten thousand dollar Bitcoin we might not Ever get there we don't have that final Confirmation just yet but with this Upside push it's looking very very Unlikely and if we get those monthly so Swing brakes which is one of our next
Indicators for the end of this Particular cycle as we've demonstrated From previous cycles and this tool has Over 100 Years of data probably heard me Say that a lot basically on most other Markets once you start to get that on Multiple time frames here in particular The monthly swing chart then you can Basically kiss any of those lower price Targets goodbye because this is Identifying the trend is ready to change So we need to get past this 21 and a Half ideally I want to see around that 25 too just because this was a stronger Monthly swing top than this particular One right here so that's the monthly Swing top nearly there the logarithmic Downtrend like we saw on the daily it's Getting close I think that'll happen Sometime in this first half of 2023 for Us to break past the logarithmic Downtrend we've already done it with the Linear downtrend back in October of 2022 And then one of the final factors is to Cross path past past the 50 level from The all-time high to zero and that is The halfway point around thirty four and A half thousand and of course on the way Up there's going to be plenty more Resistance levels but this at least puts Us above that previous low at about 30k Or 29 to 30k and then also above those Previous levels where the market was Just holding up before that final uh one
Of those major final collapses on Bitcoin so it's a long way off we've got A few levels to look at before then also There was that timing Factor as well so We looked at that many many times we're Going to continue to update that and Look at how that works out within this Next stage should we get another major Bull market into that this next uh Bitcoin and cryptocurrency bull market I've also got a Wyckoff update video Coming out on the channel so make sure You have subscribed like the content you Know the drill how it works down below Check out the links to everything I've Talked about here in particular again Swing indicator and our free Crypto and economic report link is in The top of the video description there If you've missed out on buying Bitcoin I Wouldn't feel so bad just yet it's just Going to take a little bit more patience Now because it seems like the momentum Is Shifting more towards the Bulls keep This chart in mind if you are looking to Basically continue to fill your bags During this period of the market now That we're seeing ourselves around that 21k who knows by the end of January Maybe we've dropped all the way back Down to 18K or maybe that happens in February or March which is what we're Forecasting as I said on the channel From last week's video looking at a 2023
Prediction for Bitcoin and the stock Market uh probably sometime this quarter In quarter one we start to drop back and Test some of these lower prices here Particularly on the s p and Bitcoin will Probably follow suit if the s p is also Looking weaker Factoring in somewhere around that March-ish period so are we out of the Bitcoin bear Market not yet signs are Looking quite good is now a good time to Be trading well anytime there's Volatility it's a fantastic time to be Trading like we've talked about Throughout this period you want that Volatility so that the trades come nice Fast hard and quick so don't go anywhere With those I still don't see any Confirmation for dollar cost averaging Into cryptos I like to wait for Different signals very confirmed factors Because many of these old coins won't Make it it's happened every single cycle I get the same questions from people Please stay safe out there keep your Money safe have your plans and if you do Try to dollar cost average into all Coins make sure you have a get out point On all coins some sort of stop loss area In case they just don't make it thanks Once again guys I'll see you at the next Video make sure you have subscribed to The Channel all that sort of good stuff Have a great weekend and until then
Peace out
