CRITICAL: It’s Slowly Slipping Away For Bitcoin Bulls! [Downside Target]

On Bitcoin

Changed since their last video: days moved waiting to down; months moved sideways to down.

Views

• Next days (next 1–7 days): Leans down (timeframe is our reading): Bitcoin's in a bit of a precarious place, bit of a tough spot over here where it has the real potential to flush back down to 60K. ▶ 41:42
• Next months (next 2–6 months): Leans down: timing wise, our expectation is still that the most likely candidate for a cycle low is going to be August, September, October, which gives us about a 90-day period to decide what to do next. ▶ 31:44

If this, then that

• If weekly candles closing below $60,000, then no target given (next months): And ultimately, if you start to close weekly candles below $60,000, it will potentially start to get ugly very quickly, which could play out that low scenario for your final buy the dip opportunity. ▶ 27:47
• If close below the orange line confirms a lower high, then no target given (next days): So closing below here confirms that that's a lower high and then you're looking for trend continuation which would mean towards the downside. ▶ 28:50
• If close below 622 (62,200) liquidity and TD sequential nine buy low, then no target given (next days): if you come for that liquidity and you close below 622, well ultimately this nine buy is going to start to fail and then you're looking down lower. ▶ 32:41

Levels named

• 71k: Resistance (bull trap area between the 21 EMA and parabolic SAR, around the 50% level): It all lines up with the midpoint being around that 50% level, call it $71,000 over there. ▶ 27:16
• 62.2k: Support (low of the candle carrying the TD sequential nine buy): If you can remain above that 62,200ish level and not take out that low, maybe this nine will hold and you could potentially bounce. ▶ 30:27
• 60k: Support (lot of support in the 60K region, area of interest to watch): Of course, there is a lot of support coming in the 60K region. That's the area of interest to watch. ▶ 31:18

Their own position: Not said.

Dates named

• Possible rate hike at the next Fed meeting, undated: ultimately at the next meeting, if there's going to be a rate hike and we get closer and closer to that event, what does the market do?