Bitcoin prices tanked Friday, letting go of the recent gains associated with the much-awaited approval of exchange-traded funds (ETFs) backing the cryptocurrency and marking another curious case of bitcoin dipping following seemingly good news for the asset.
1. ๐Ÿšจ Message me any questions: https://discord.gg/kwVQtmu
2.โœ… LPP $250 OFF (Daily Live Trading): https://bit.ly/3CPGNLH
3. ๐Ÿ“ธ Instagram: https://www.instagram.com/rickygutierrezz/
4.๐Ÿ–ฅ Tesla Giveaway: https://shoptechbuds.com/
5.๐Ÿ“Š Free 12 FREE Stocks (WEBULL): https://a.webull.com/i/RickyGutierrezYouTube
For those who are interested in Trading & Investing, I encourage you to join Our Free Trading Group of over 300,000!
#stockmarketnews #sec #bitcoinetf
Thank you for the support, the best way to reach out to me is through our private discord chat, please DM me.

So why is Bitcoin dropping so much? what's going on team? It's Ricky with tech Solutions and this is a question not only myself, but a lot of Traders have been asking themselves after the SEC approved 11 spot Bitcoin ETFs shortly if I'm not mistaken, it was Wednesday aftermarket hours or Thursday right? We initially saw a push, but now markets are dropping I Thought that this article from Forbes did a really good job breaking it down and hopefully you can shed some light on some of the questions you might have yourself. I Really hope that you learn something new in this video and if you do, please consider dropping a thumbs up and all I ask you to do is if you have any further questions let me know down in the comments section as I would love to make another video just for you. Let me go ahead and start sharing my screen. Right now we are looking at Bitcoin Bitcoin again after the spot Bitcoin ETF approval hit highs of $49,000 9,677 to and we saw a dramatic pullback and then as of right now look at this the consolidation that we are seeing right around $42,000 for Bitcoin.

The really great thing about this is that it's not necessarily making any more lower lows so we're not making any further progress on the downside, but we're definitely not showing signs of a recovery in the Lpp lesson. Library We talk about the three stages of a reversal and this fits perfect because a lot of people like to ask. Well, now a good time to buy. Well, there's no confirmation that this thing is recovering.

Now if that were the case, what would that look like? This is a perfect example. We sell off. That's the rejection phase. an active sell off.

Then there's the consolidation phase where it's establishing a support level. Sometimes it might just be a few days, sometimes it might take weeks, but during this consolidation phase is again, there's there's movement within a range, but it's not making much progress. On the upside or on the downside, there's not an active recovery. And again, this is a mistake I've made many, many times where I enter early and then I Kind of regret it for one of two reasons.

First reason is maybe just doesn't go according to plan and after the consolidation it just continues to sell off. This is why again you wait for stage three, which is waiting for confirmation or you waste so much time in a consolidation phase that you get pretty much bored of there not being any further progress on your position that you just end up closing it and then it confirms and then you miss out on the trade. I Don't know if this is something that you guys can relate to, but I know that that has happened to me so many times. So what can we do? Well, stage three is confir.

That is when we're actively showing signs of an uptrend, right? How many times have you taken a trade where it actively is pushing up and you're like wow, That was such an enjoyable and a much easier trade because it was actively in your favor. And this is what we talk about all the time with our Lpp team is it's about entering and exiting at an efficient time when there's an active Rally or an active sell off depending if you're trying to make money going long or if you're uh, trying to make money going short. But with that being said, I set my alert for the break above 43,000 That would be the break above the EMA line and actively showing progress on a recovery if I get that. Then again, this is something that can bring back my attention to Bitcoin and everything that Bitcoin influences such as coin stock and Mara stock right? But I also set my alert at least I thought I did.
It doesn't look like it's showing it here, it might have canceled the other. but I can also set an alert here for the break below. And by setting this alert for the break below, what this would do is once breaks below and if it breaks below 42,000 then I'm at least kept up to date of like hey, Bitcoin is actively selling off. It's probably going to have a negative influence on all the Bitcoin ETFs as well as you know the stocks that had influenced such as Coin and Mara.

But as of right now, Coin has not been doing the best. It's establishing a support level, but it's not indicating any signs of recovery now. Why exactly is this happening? So um, Forbes did a great job breaking it down and it says that, um, this single-handedly the sell-off that we saw happen on Thursday and on Friday after the Bitcoin ETF approval was one of the biggest sell-offs the biggest losses since August and the second worst day since November of 2022 during the FTX unraveling of when FTX was going to have to file for bankruptcy or get bought out right? Um, so if you were kind of scratching your head and asking yourself man like this is a pretty steep pullback, you're not wrong. This is a very steep pull back and it's something that hasn't happened in quite some time.

The other thing that I want to remind you is that a lot of people are considering this with the idea of buy the rumors, sell the news type of approach when it comes down to the spot. Bitcoin ETF Approval A lot of people have has been aware of this spot. Bitcoin ETF Approval since you know a few months ago. so the strong rally that we've had from lows of 15,000 to highs of 48,000 you have to remind yourself there's been a lot of buying pressure already, so a lot of people might just want to lock in profits to anticipate a potential pullback.

As you can see, we're still holding above the EMA line here. if we begin to break below and break below the $40,000 range, that's where we can really enter some uncertain territory where we can begin to gap down all the way back down to the moving average maybe at 33,000 and continue to sell off, then we're not there. yet. We're still holding above, so there's still hope that this thing could potentially recover, but just know we're very close to a pivotal point for Bitcoin where things really can begin to get so much worse.
So just something to be aware of. The other thing that again you want to be reminded is that you know Bitcoin is now trading at this lowest level in the week. It has also retained gains from the ETF hype. So after this, um, about this blowout, so again, it kind of highlights that it's been up over 130% in the last 12 months.

so you might be surprised or uncertain because of this recent pullback. But you also have to take into consideration this insane rally that it's had, and that of course, just like anything, once news actually gets released or once something actually gets into, uh, becomes or gets into fruition, you need to understand that pullbacks or selling pressure of people locking in profits shouldn't come as a surprise. Which goes back to that same saying of buy the Rumors and Sell the News and every article that I am reading. And please let me know down in the comment section if you see anything different, but every article that I continue to read covers and highlights the same thing.

and that is that it's a technical pullback and it's just based off of the simple concept of buying the rumors. the rumor being that hey, the SEC is pending approval for these spot Bitcoin ETFs If it gets approved, this could really legitimize Bitcoin and cryptocurrency. So then that's why in the past 2, 3 four months we've seen crypto go up, We've seen Coinbase go up, we've seen Mara go up, and it's all because that was factored in in advance. You have to remind yourself these markets like to factor things in advance based off of expectation.

Now, if this didn't get approved, there would have been a much stronger correction. but because they did get approved. now again, this is just a COR correcting itself back to levels where it's not as overhyped I feel like it's kind of just shedding some of the skin of the people that were just trying to make money on the possibility of it going up. And now that it did, people are locking in profits.

But if it holds its ground here and then it gathers more attention, right? there could be more buying pressure that begins to build up at these levels. The possibility of Bitcoin to continue to recover and even exceed $449,000 is possible. But again, you just have to understand that these buying and selling waves, Um, come in sessions, right? And they come. They come in waves themselves where you cannot be surprised that people are looking at out for themselves and that they might not believe that crypto or Bitcoin is going to go to 100,000 or 1 million.

Everyone has their own opinions and that's what they're entitled to, but there's a handful of people that obviously wanted to lock in profits and that is what we're seeing at least saw for the past three trading days. Uh, when it comes down to Bitcoin Now what's to come for this upcoming week? Last week we had the CPI data report which is the inflation report this upcoming week. we do have a lot of banks and institutions they're going to be reporting earnings. We will be talking about that during our live trading sessions with the Lpp team, but there's no significant tech company nothing like Apple or Google or Amazon that is going to be reporting earnings this week.
So again, it's something that I'll keep you up to date and then the week that follows after that, we will be having our FC meeting which is when the Federal Reserve will meet and determine if inflation is going to be kept at the same I'm sorry if interest rates are going to be kept at the same rate or if they're going to cut interest rates which is again a big expectation for 2024. I Really hope that you guys enjoy your 3-day weekend. The stock market is closed tomorrow. Monday January 15th in observance to Martin Luther King Jr day so again I Hope that you enjoy your 3-day weekend If you have any questions whatsoever, especially if you're an absolute beginner, please either comment down below or do not hesitate to shoot me a direct message either via Discord or via Instagram and I'd love to answer any questions on how you can get started.

Also again: I Do trade live every morning meaning that you get to see an inside look a raw live trading session. You get to see my screen and you get to see everything that I'm buying everything that I'm selling. But most importantly, you get to hear my thought process behind every trade I take and this is normally very useful for someone that's just getting started. If you want to tune on in and check it out to learn more about it, it's the second link in the description down below.

I Appreciate your time. Don't forget our Tesla giveaway is coming to an end and if you want to enter to win inless in 7 days that it's going to be that fourth Link in the description down below. Appreciate your time happy Sunday And like always, let's make sure that we end the year on a green. Now Take Care Team!.


By Stock Chat

where the coffee is hot and so is the chat

36 thoughts on “new why is bitcoin crashing in 2024?”
  1. Avataaar/Circle Created with python_avatars @Preyasi-Prama19206 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  2. Avataaar/Circle Created with python_avatars @Hena-Pritikana80974 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  3. Avataaar/Circle Created with python_avatars @Swati-Anushree50329 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  4. Avataaar/Circle Created with python_avatars @Bipasha-Ipsa2952 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  5. Avataaar/Circle Created with python_avatars @Bhagya-Ashima051 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  6. Avataaar/Circle Created with python_avatars @Bhavna-Devangana9188 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  7. Avataaar/Circle Created with python_avatars @Akshata-Devak406 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  8. Avataaar/Circle Created with python_avatars @Roshni-Pramila56882 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  9. Avataaar/Circle Created with python_avatars @Tanya-Sadgati32893 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  10. Avataaar/Circle Created with python_avatars @Vaishnodevi-Rangana6862 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  11. Avataaar/Circle Created with python_avatars @Anisha-Omana466 says:

    Its amazing how well-liked Block Sailor Token is among the community. That kind of support could help it reach new heights!

  12. Avataaar/Circle Created with python_avatars @Tarala-Subrata103 says:

    Block Sailor Token is the safest altcoin ever since its automatic algorithms stop paper hands, bot transactions, and bear markets. It will certainly reach $10 in no time.

  13. Avataaar/Circle Created with python_avatars @Nauka-Dhwani70143 says:

    The application scenarios for Block Sailor Token intrigue me. The future is bright!

  14. Avataaar/Circle Created with python_avatars @Karunamayi-Jagadamba8838 says:

    According to my analysis, Block Sailor Token appears to be promising. Its captured my interest.

  15. Avataaar/Circle Created with python_avatars @Tarala-Subrata103 says:

    You claim there is no way, but why? Do you know about Block Sailor BLOCK? This is going to soar to new heights.

  16. Avataaar/Circle Created with python_avatars @Atasi-Surotama63221 says:

    The development of Block Sailor Token is admirable. Its important to keep an eye on this project!

  17. Avataaar/Circle Created with python_avatars @Tannishtha-Joshita22373 says:

    You claim there is no way, but why? Do you know about Block Sailor BLOCK? This is going to soar to new heights.

  18. Avataaar/Circle Created with python_avatars @WiseWordsGrowyou says:

    Traders show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. Their dedication to continuous learning is inspiring. I'm especially grateful to Pennie Thorne, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

  19. Avataaar/Circle Created with python_avatars @ericmossman6953 says:

    Excellent content, Ricky! Many thanks!

  20. Avataaar/Circle Created with python_avatars @hardyVibert says:

    I appreciate the thorough research and clear explanations brother โœŒ๐Ÿฝ๐Ÿ’ฏ

  21. Avataaar/Circle Created with python_avatars @sreekanthzyou says:

    Are we gng to have recession in Jan?

  22. Avataaar/Circle Created with python_avatars @manivang9792 says:

    Thats a bear flag bro

  23. Avataaar/Circle Created with python_avatars @Vilina-Ujwala90621 says:

    I saw it too, bought some the other day and it arrived in my account the same day. Now waiting for the listing day.

  24. Avataaar/Circle Created with python_avatars @hbb3367 says:

    Drink a glass of milk and let the cat in your bed.

  25. Avataaar/Circle Created with python_avatars @MDRtrading_JZ says:

    Alwsys bringing that fire !! ๐Ÿ”ฅ thank you

  26. Avataaar/Circle Created with python_avatars @johndeman7142 says:

    Please stop the clickbait

  27. Avataaar/Circle Created with python_avatars @Anantha-Hiya84456 says:

    I saw it too, bought some the other day and it arrived in my account the same day. Now waiting for the listing day.

  28. Avataaar/Circle Created with python_avatars @d15577 says:

    Run 40% down 5% = crashing….buy high sell low

  29. Avataaar/Circle Created with python_avatars @Vibha-Ganga8813 says:

    Dude, if this Roccat token flies like Pepe or Shiba… the $300 were investing now could turn into $40-50 thousand. Really, we could buy a house or car with $300.

  30. Avataaar/Circle Created with python_avatars @timesaver316 says:

    buy the dip !

  31. Avataaar/Circle Created with python_avatars @Devin.Kurant says:

    Longs sold on the SEC approval news. Nothing to see here except a correction

  32. Avataaar/Circle Created with python_avatars @Priyadarshini-Nilam13055 says:

    Dude, if this Roccat token flies like Pepe or Shiba… the $300 were investing now could turn into $40-50 thousand. Really, we could buy a house or car with $300.

  33. Avataaar/Circle Created with python_avatars @FA9082 says:

    That mustache got Ricky looking like he stand outside Home Depot ๐Ÿ˜‚

  34. Avataaar/Circle Created with python_avatars @Semanti-Suhasini2336 says:

    I saw it too, bought some the other day and it arrived in my account the same day. Now waiting for the listing day.

  35. Avataaar/Circle Created with python_avatars @imatimetraveler5760 says:

    Mustache ๐Ÿ˜‚๐Ÿ‘

  36. Avataaar/Circle Created with python_avatars @Manjari-Siddhi198 says:

    Dude, if this Roccat token flies like Pepe or Shiba… the $300 were investing now could turn into $40-50 thousand. Really, we could buy a house or car with $300.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.