Looks like Bitcoin today got absolutely destroyed and everything that was anticipating this spot. Bitcoin ETF Approval is not going according to plan. This is one of the biggest sell-offs that I've seen in quite some time and it's the biggest selloff that we've experience with Coin. Let me go ahead and start sharing my screen so you guys can see exactly what it is that we're looking at.

Uh, during today's live trading session I had an open short position um, and even from highs of 160 to overall lows of what it made after market average of 139, this was a 13 to almost 14% move. So if you look at this in a perfect world from overall highs to overall lows, 13.62% is what coin lost today. And if you look at Bitcoin this is on the 5 minute, uh, 30 minute, but on the 5 minute, you can see from overall highs of 149 to current lows of 146, testing a common support range, and as of right now, a strong DC descending pattern with lower highs and lower lows. If we look at this on the larger time frame and that's kind of what I was paying attention to on the larger time frame for the 30 minute, Bitcoin is still trying to hold above the moving average which again we talked about this when uh, actually yesterday when this whole approval process happened.

there's a lot of people that have been anticipating this news of the spot Bitcoin ETF to be approved. So when it did get approved and it rallied, you can't be surprised that a lot of people are now locking in profits because they've been a part of this for the past month to two months anticipating the rally that has already happened right? If you look at overall performance, I mean Bitcoin in the most recent months has nearly doubled right? If we look at overall lows of $26 from September or October and November to overall highs of $49 I mean we're talking about a 100% return in about 3 to 4 months. Absolutely insane. The same thing with coin, coin, coin.

If you look at this on the larger time frames, you can see from overall lows of $72 to overall highs of 187 has the rally already happened? That is a question that you should be asking yourself because if we do break below this major support of around 137, or if we do break below that major support on Bitcoin, get ready to really I would say a man I I Don't even want to say it. It's just like if if you think what we experienced today was bad, just put your sea on because it could get so much worse from overall highs of 140, think about it. we break below. EMA We have a huge gap down to lows of $86 You cannot be surprised.

the cheap can always get cheaper. I'm hoping that it doesn't sell off right right now. We're testing kind of the moving average on the on the 4 Hour it just made the lowest, uh, the largest pullback that it ever had before. Uh, since this overall rally for this bot Bitcoin ETF So hopefully we begin to see some buying pressure, but tomorrow is Friday we're going into a three-day weekend if I'm not mistaken on Monday U Market's close in observance to Martin Luther King Uh, King Jr So it might be a slower trading day and we might not see that buying pressure that a lot of people are waiting.

Um, on for this overall uh, what's it called cryptocurrency? Boom that they were expecting to happen in 2024. Obviously, it's still super early on. it's literally within the first two weeks of 2024, so we can't over complicate or U make things worse than what they actually are. But as of right now on the 30 minute time frame, it's still holding above the moving average.

We'll see if we get a nice little bounce, maybe a nice little rally, and that should correlate on over to coin if Bitcoin continues to sell off. Then again, we cannot be surprised. Coin will most likely follow and there is a huge gap down I Just want to to make sure that you were aware of it, right? It should be quite exciting, because like we've said before, it doesn't matter if the Market's bullish or if the Market's bearish. there's always money to be made as long as you focus on one thing and that is Market direction from highs of 140.

Imagine If it begins to sell off all the way to $80 and shorting all the way down, that is so much money to be made. But again, let's stay patient and wait for direction to be a little bit more clear when it comes down to the different economic reports that are set to be released tomorrow. It's the PPI report and the Core PPI report which is the same thing as our inflation report on the consumer side that was released today, but it's actually inflation on the producing set of things. The really important thing that you should know about inflation on the producing set of things.

it's usually used as a measure for upand cominging consumer or CPI data reports because if inflation is going up or down on the producer side of things, it normally gets passed down to the Uh consumer later down the road. I Don't know why I'm stuttering so much, but I do apologize. Uh, the last thing that I want to remind you is that the CPI data report on the consumer side of things did get released today 3.4% inflation which was higher than what was expected for overall CPI and Core CPI came in at 3.9% inflation which is also a little bit higher than what was expected. Other than that, again, a pretty stable day for the NASDAQ Market nearly Break Even after a strong selloff, so we shall see how we recover.

Are we going to begin to scroll back over and sell off? or are we going to continue to go back to retest previous highs of 4113? We'll talk about this tomorrow during our live trading session and I saw some of you guys comment on my mustache. Make sure you drop a thumbs up if you love it and make sure you subscribe if you hate it. I Hope to see you for tomorrow's live trading session if you want to tune on in. It's the second link in the description down below and if you have any questions before tuning on in, message me via Instagram or Discord and that's the first or third link in the description down below.

I Appreciate your time like always. Let's make sure that we end the year on a green note. Take Care team.