So as we enter the first trading day of june, bitcoin has finally shown a break within the market, resuming its correlation with the stock market. Once again now, as most investors know, the climate for the past few months has been pretty bearish, meaning a lot of people have been losing money, but we are back to the usual schedule of stocks going down and crypto following down once again now, that being said, What has been in the talks, a lot at least on this channel, is what we call a relief rally, which is when we see assets, continue to go down, but then, once it goes down to a certain point, we begin to see a little bit of green Back in the market, where people can either cash out or start making money within this bear market. So in today's video we're going to be reviewing some more important bullish data for crypto and i'm going to be giving you my bitcoin june rally prediction now by the end of this video you'll have some better data on what to do for the month of june. While we approach the rest of this year, all right, majing nation, before we get started like the usual, if you are enjoying these daily market updates monday through friday, be sure to like this video down below and subscribe to the channel.

If you haven't done so already with that being said, let's hop into the computer and see what is happening in the market for today. So the global crypto market cap is down to 1.26 trillion dollars. We're seeing about a 3.71 percent decrease over the last day, and this is because bitcoin has now fallen below the resistance level of 32 000. It is now retracing back to 30 653 changed a little bit, actually thirty thousand four hundred eighty eight dollars and forty nine cents.

At the time of filming this video going into even ethereum, it looked like we're having a bit of a rally approaching two thousand dollars before pulled back down hitting eighteen hundred dollars where we're right back to where we started just a few days back. So we mentioned yesterday that the 200 ema, or that purple line had become bitcoin's key resistance level on the four-hour chart. What we also saw was that bitcoin wasn't able to break through that level and what that means is usually if we can't hit resistance and hold it. We come back to previous support levels now.

Currently the rsi in the four hour chart is still showing overbought levels and may indicate another minor correction. Now, taking a look at the four hour charts, the price actually hasn't updated fully, since i was actually recording this video, but we had support levels of 30 700, which is that orange level line. If we take a look at current price action within the market, bitcoin is right now, just under that support level too. Now, despite remaining high at around point seven bitcoin's rolling correlation to the s p, 500 and nasdaq continued its decline to its lowest level since april.

The focus within the bearish sentiment has also shifted from inflation to growth worries over the past few weeks as the fed's hawkish policy and the dragging war in ukraine and covert related restrictions in china, boosted even additional recession fears. It's also important to note that this data came out a few days ago and it doesn't take into consideration bitcoin's recent price action as well. I think if it did, the results would be even lower from the expectations we got, but i would say overall this is still great news during a market crash just because many people have criticized bitcoin, because it has not been performing as a hedge to inflation. But what we're seeing now is that bitcoin's correlation has shown a little bit of movement in being able to decouple away from us equities and hopefully, even though the trend is not happening today, we could expect to see it happening sometime in the future.

Taking a look at some additional data, if we look at glass node, we can see that there has been a noticeable shift in bitcoin accumulation behavior for almost two weeks. The accumulation trend score has returned a near perfect score above 0.9 for anyone who doesn't really understand what this data means. It just indicates that existing entities on the network are adding significantly to their holdings, so any bitcoin whales that have continued to buy up the dips and have large large positions. This could be institutions.

This could be exchanges, it looks like we are getting the same activity right now where they are currently continuing to accumulate strongly in this trend. Now strong accumulation trend scores also tend to happen during some of the times where high scores are during a bull rally where blue circles are on, the chart usually occur near tops as the smart money distributes their balance, but are matched to an even more significant influx Of less experienced new buyers now, on the other side of that, if we have the high scores during bearish trends, which is the green line, this generally triggers after very significant corrections in prices. This happens all because of investor psychology, which shifts from uncertainty to value accumulation. A notable exception is the post all-time high period of december 2021, where the dip turned out to not be the actual dip, and many of these coins were redistributed lower at a loss now going into the crypto fear and greed index we're slightly higher than we were Yesterday and for the time being of last week, where we're seeing about an 11 and 11 on the scale, stranger things, but right now, the time fooling this video we're at a 17 still within the extreme fear and, to sum everything up, i just want to at Least, give you guys what i'm thinking is gon na happen for the month of june.

Now, before i give any type of prediction, just know that a prediction is just a prediction: i do not have a crystal ball. I really don't know exactly what's gon na happen at the end of the month, but taking a look at the data and some of the articles that i'm seeing this is what i expect to play out. So, first of all, if we take a look into the price action of bitcoin and understand that the charts have not shown a complete story, we've been going down in price, but pulling it even to the three months or the one year. Yes, we have been seeing an extended period of losses, but this doesn't mean this would trace out to the entirety of the year.

So i think it's safe to say that crypto is still currently sentiment based, meaning, however, investors feel are generally what the assets do in terms of their performance. When we have the entire market shaken up we're seeing stocks continuing to go down because of sell-offs and then more impeding bad news coming up, then we see obviously the correlation happening within the crypto markets. What's really interesting about all this, too, is that even here with an article from cnbc, they say mortgage demand slides further, even as interest rates pull back slightly. This right here is a really important headline: interest rates have not been climbing up and up and up yes, we are still seeing the looming effects of inflation.

Yes, we are still seeing gas prices pretty high, we're still seeing grocery prices pretty high, but overall interest rates have been going down in broader markets that are still very important to the overall investing sphere, which is going to be even mortgage-backed interest rates. Cnbc points out here in this key point: mortgage rates turn lower for the second straight week, but it wasn't enough to boost demand for purchase loans or refinances. Applications to refinance a home loan also dropped two percent for the week and they were 75 lower than the same week. One year ago, and applications for a mortgage to purchase a home were flat week to week and down a 16 from a year ago.

What this data just shows was that across pretty much all markets where everything was going up used, cars, watches houses, stocks, tech stocks and even the crypto market was really based off of all the stimulus and really just the extreme greed we were experiencing within the market. This was in combination with the lower interest rates where people are trying to buy up as many assets as possible and now that we're seeing a lot of cooldown happening within different industries. Oftentimes, this turmoil within a market indicates a break period where what i'm hoping for is going to be a small relief rally that we can experience for the month of june. I think right now we're at a point, even if we got some of the best fundamental news to come out where, if bitcoin was massively adopted by every country in the world - or we even had you know, other all coins or ethereum coming out tomorrow, with its Upgrade it would still be very difficult for even a lot of these headlines to bring back revival within the market.

Now, whether or not we experience. What i would say is a relief rally happening this month for the broader crypto market. I do expect for us to see some type of recovery happening, at least before the end of the year. A few indicators that i like to look at outside of the technical basis on whether we're oversold overbought or if we're able to even hold at certain support levels or if we see any type of patterns within the market, is just basic.

Psychology of the crypto market cycle believe it or not. Ladies and gents, if we take a look at the psychology of the crypto market cycle, we take a look at bitcoin. There is an odd amount of correlation happening within these two charts. If we pull to the one year, obviously we'd see the top of bitcoin reaching 67 000 being that previous peak, and then we had euphoria, we had a little bit of recovery, we had the complacency and then we had straight on just anxiety happening within the market.

We had panic, we had denial, we've come down even more and i would say right now, within the cycle we are within the depression zone. Now taking a look and zooming in to the psychology of the crypto market cycle, we are close to that buy zone. We are close to re-accumulation and what normally happens after all of this when we hit the bottom is we begin to see another market rally now i feel like within the last few months we haven't heard of the term super cycle, but i will say when we're Making these updates everyone had this in their mind, everyone was talking about a crypto super cycle, meaning we would not have a basic psychology cycle like the one we are seeing on our screen. Instead, a lot of people were expecting us to experience this type of growth.

We would just see a crypto super cycle with bitcoin only going up and never selling out. Obviously, that's not the case, and even with super cycles. It was something that i had a hard time putting my head around just because with any asset in order for it to continue to grow, we will not only need institutional growth going into the asset, but we will need even more investors coming in, and this would Not be existing investors putting more and more money in it would be newer and newer and newer investors, and the question is how many more newer people can you get at a certain point? And yes, i understand that even this type of terminology can seem like a ponzi scheme. Anything anything in the world regarding investments can be a ponzi, so even with what we're seeing now, when people had the argument of bitcoin being a potential super cycle leading to even higher highs, it didn't really make too much sense only because we couldn't get a lot Of those newer investors in at the time now, while we're able to see some depression happening within the market - and i can tell you a lot of investors - are still feeling it.

The good news is this: if it's clear that within the market we're near the peak depression, this means that we have an opportunity to go back up even higher during times when the market is flat, you have to realize that people are still making money, so people Are still going to work, people are saving their money and people are waiting to invest if the global crypto marquette was able to blow out of the three trillion dollar mark once before, i can tell you it can still happen again outside of all the macroeconomic conditions. Even the talks of the looming recession, the good good news out of all of this is the fact that these cycles seem to be getting shorter and shorter. If we even take a look at some data coming from the s p, 500 total return. We can also see these type of market cycles here on your screen.

You'll notice, the period of a bull market versus a bear market, another bull market which lasted about 7.1 years or doubled the amount of time from the last time. And then we saw a bear market at a shorter period of time, and we can continue to see how extensive this entire process is. When investing the entire market moves in cycles. As much as i would love for things to go to be a super cycle and we're always in a bull market, that is just not the case during certain times of the year, you may feel, like you want to spend more money, maybe during the holiday seasons.

You see that work bonus coming in the holiday checks and you're like okay. I can spend a little bit more cash, i'm getting some more gifts too, and that is when we are in greed. We're in flourishment we're not really worrying about the lack of what we have in terms of our assets and our possessions, and we see this translating across many different, broader markets. Even within this cycle, you'll notice that we had such a strong period of bull market rallies and this still outweighs any type of bear markets we've seen.

The biggest point i want to make across here is that bear markets are short-lived. They are much shorter in cycle than bull markets and we can experience a lot more opportunity if you do the exact opposite in what the entire market wants to do. Right now, which is continuing to panic, sell not doing much do what warren buffett preaches and look into averaging into the market when there's blood on the streets. Just a reminder, too, if we go even into previous cycles of what we've seen happen here is the flow of the crowd during the four year crypto cycle number one in the midst of a bear market, no one wants bitcoin, and this is where you should be Accumulating more bitcoin with dollars now, alongside bitcoin, i still think ethereum has higher upside and for the year 2022 a little.

This information might be outdated. I think the new version of bitcoin is still a viable ethereum, especially knowing that we're gon na have ethereum 2.0 coming out by the end of this summer. Now, what happens after that is when bitcoin makes a parabolic move, the crowd floods into bitcoin and all coins go down significantly in satoshi value for anyone who's new by the way, if you've never heard of satoshi value, satoshi is basically just a fraction of bitcoin. It's just a much micro micro scale of that now, although we haven't yet seen bitcoin make that parabolic move.

Yet this is when you want to accumulate all coins with the bitcoin that was bought for cheap and because this is resulting in what we know as the all coin season, so you buy up whether it's bitcoin or ethereum. You make your gains there, and then we see other all coins making moves about 20 to 30 increases every single day when that bull market starts heating back up now. The strategy here is that after bitcoin stops going up and it consolidates, because anytime an asset moves up, we always come back down and needs to have a breathing room. The crowd then moves into all coins.

What you want to do is the opposite. You want to sell those all coins and move back into bitcoin to prepare for the next all coin season. They also show in an alternative situation in 3a, where you can loop back here. While bitcoin makes another leg up, you still have multiple altcoin seasons that you can profit from now.

Here's where we currently are - or we just came out of which is actually going to be number four, where the rate of new participants to the market has slowed down significantly. So i mentioned this on our channel: we're seeing less and less newer investors coming into the market, and this is when bitcoin has a blow off top and the bear market begins. Now this chart mentions you know, selling bitcoins to dollars, but then also holdings a bitcoin forever. I personally think it is okay to move all your assets over into stable coins, but at the same time, if you're planning to hold crypto for a long period of time, it is very important to make sure that you at least have some type of skin.

In the game, this is because that is your hedge against the market. In case, we don't follow any type of crypto cycle and it continues to actually go up, despite what many people predict would happen within a bear market? Ladies and gents, the truth of the matter is, with my june bitcoin prediction. I don't know what in the world is going to happen. I would like to hope that bitcoin goes up in price, but all we can really do is stay strategic and emotionless within this market to make sure that we do make more logical moves, which is showing we are within a crypto market cycle.

We are within a bear market. We are close, if not right at the buying zone at this time, for you to continue accumulating your crypto, for when we do get upside because it will happen, we will experience another bull rally. It will happen in our lifetime. That is when all the work that you put in during this time will pay off now for me personally, the moves that i've been making within at least this month is still holding off, and that has been paying off, at least in the brief moment, just because We are still at the same levels.

We were a few weeks back even for our discord. We have members making money left and right so even as an example with an nft such as goblin town, dot, wtf this. This is just crazy right now i caught this nft here when it was trading at around 1 eth and it's just been going up in price and even within a bear market. The whole just point i want to make you can still make a lot of money within a bear market.

I think it's even more satisfying being able to find profit during these times only because, when everyone's losing money, this just shows your skill. Anyone can make money in a bullish market. Anyone new can throw their money into any altcoin that they've done zero research in and continue to make profit, but if you're able to find strategies and understand market cycles and make money during this time, i can tell you, when we do return to some euphoria. You'll be well set, then all right so to wrap this video up if you guys did enjoy today's episode, don't forget to check out the links down below in the description.

Also, don't forget to check out ftx they're one of the largest cryptocurrency exchanges in the world, and if you are trying to buy up this dip, you can trade crypto on ftx, with up to 85 lower fees than their top competitors. And on top of that, you get no fixed minimum fees. No ach transaction fees - and you can also set up reoccurring, buys directly within the app making dollar cost average very easy to do so. Ftx also has an nft marketplace with top projects on ethereum and solano, where you can buy top nfts without the crazy gas fees now to make it even better they're, also launching a stock trading platform.

So if you're not quite ready for crypto. This is also a great option for you. The ice thing on the cake is, if you guys use my code junk down below to sign up, you can also earn up to a hundred dollars just by trading with your account. Now.

Last but not least, don't forget to follow me over on twitter and on instagram, if you guys want to check me out on my social medias there, and if you do follow me, please watch out for impersonators and scammers as well. I also have an exclusive discord group where you can get access to my buy and seller to my portfolio and just an amazing community. So if you guys want to check that out, don't forget to use the link down below in the description as well. So our discord group has been sold out with memberships for the past few weeks, but i do plan on opening it within the next week or so so, if you guys want to have an access to join or you want to be on the ready for that, There's a free link to join as well down below in the description now like the usual.

Thank you all so much again for watching today's video and the code word for today's episode. We got ta do goblin just because you know that nft, the the nft projects, i'll give a little bit of a shout out. Thank you all so much again for watching have an amazing day and i'll see y'all soon. Peace,.

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