Well well well, ladies and gentlemen, within just a matter of weeks, souls have been ripped from bodies. Bank accounts, liquidated divorces through the roof, dogecoin millionaires down, it's been pretty rough, and let me show you so what we're going to do is take a look at bitcoin. We're going to take a look at ethereum, pretty much kind of like the two big popular cryptocurrencies and give you guys some technical analysis on it just the other day. I think it was two days ago we had posted a video when they first crashed, or did that really big ugly drop a few days ago recommending that it was a buy so mostly when the rest of the world was panicking out of their positions on bitcoin And ethereum and selling, because the whole world was going to end, we were rushing in to get long, so we're going to go over where we started buying them and where we anticipate this little reversal.

We're currently in can go to so, let's get into screen share. So here we have it. This is a hundred and eighty day four hour chart for bitcoin. First we're going to go, look at the daily chart, so we're going to look at a one-year day chart or a one-year trend of this stock or more cryptocurrency.

So looking at the one-year trend, this is, this is how it appears. Okay, so the way that we go about doing a lot of our trading is we're trying to follow trend and be in on the lows of trends and sell it. As we revert back to means, and so on so forth, so pretty much what that means is any time the price of bitcoin would drop down to this yellow line. We would be extremely long, biased near those prices, and it goes for the same thing on the four hour chart.

So what we're going to do is show you this we're going to zoom in and the other day, this yellow trend line was at a price of 37 500 right now is at a price of 37 740.. So, just a couple days ago, this was a little lower near the 200 moving average, so that was our buy point for bitcoin and believe it or not. It ended up flash crashing through that support by a little bit. So let me show you what like a like.

A 10-day chart looks like here so the other day when bitcoin had first dropped down to basically this this 200 moving average, this purple line, that's where we started to buy, and then you can see it did like a flash crash below that. So the way that we would look at that is this was in fact the support you were supposed to be dip buying into, but the selling pressure was so strong that it snapped the support and people continued to panic out, and then it got sucked back up, But that tells us that we were in fact buying at a legitimate price point, see here's a great way to think about it. If you start to buy at a certain price and then the stock or the currency takes a really big drop below your support. A lot of times it's because there's a lot of people buying there and as it came down through it a lot of people sold because they thought it was going to go lower.

So we are in fact long at prices where people have been buying bitcoin. So, nonetheless, if this is a true, legitimate counter trend bottom and reversal with a two leg structure um, we would normally see this move in bitcoin up back to the nine day, moving average of forty four thousand forty five thousand um in the one deviation mark. So real quickly take a step back look at this chart. If this is a true reversal with a higher low and a two leg run, we would typically see the price of bitcoin back up to about 45 000..

Another great way to think of it is if, in the event, two three days from now, you see bitcoin trading at 45 000, it's most likely going to start pulling back at 45, 000., all right! So, right now on the long side for this bottom counter trend reversal. What we're looking for or the at most price we are looking for in this movement - is a price of 45 000.. Anything above 45, 000 right now in bitcoin, really doesn't make sense um. It can happen and we'd be extremely lucky, and what i'm saying that i'm meaning over the course of like the next week week and a half, it really doesn't make sense for bitcoin to be above 45, 000..

Obviously months down. The road. 45 000 is another story, but currently with the way our system is set up, the trend is set up. The prices are going, you don't really expect it to go through forty five thousand.

Okay. Now, let's go take a look over at our friend ethereum, all right. So ethereum we go to the daily chart, we're gon na start here. So ethereum you will see, had dropped all the way down to that yellow line.

That's where i had started dip buying ethereum and then you can see it actually kind of flash crashed below that trend, even some more down to a price of 2138. So the additional drop and the additional additional drop on bitcoin and ethereum was not something that we really anticipated was going to have and we were pretty certain. We were going to bottom around. The negative 1 deviation price which we did, but we went lower than that.

So for now on ethereum, it's really the same thing as bitcoin, but slightly different. So the way we see it is while we're in ethereum right now on this aggressive bottom, our atmos target uh, i believe, is really up to the mean so back to 3100 to 3289 stop loss areas are probably going to be below the daily chart. So if we look at the daily chart, stop loss levels are going to be when candles start to close below 2523. So we go back here here you can see.

We have two trending supports coming in at two thousand one hundred or whether they say two thousand three hundred two thousand two thousand five hundred and two thousand five hundred and like fifty, you have two trend supports coming into play right there. So over the course of today, maybe going into the weekend very possible and very likely you see, ethereum pull down to 2500 to you know this zone right here and hold the pullback, create support there and then try to do. You know more of an uptrending movement. So for right now we're really only looking to get bitcoin bitcoin back to 45 000 and we're looking for ethereum to be back at the nine-day moving average or the mean, which is a price difference of 3158 to 3273.

But currently we have a pullback support. That's probably going to take place on ethereum down in around 2500 area, so again sit down 2500, don't be nervous, probably going to bounce there. If it doesn't bounce starts to get candles below closing below. That's where you might see some additional weakness.

You might want to consider that this for right now is not going to be the bottom all right, and that is really all that we're going to be talking about here in this video. I appreciate you guys tuning in you know. You know just listening to my opinion and my analysis. I believe i do a pretty solid job from time to time.

So, as always, thanks again for tuning in give the video a thumbs up like subscribe notification, all that good stuff and i'll see you guys on the next video take care.