What's going on guys welcome back to the channel, i appreciate you guys tuning in we're going to be running over a lot of stuff on bitcoin we're going to make it pretty straightforward. I don't think anybody should be confused when we get done by this. This video uh it's gon na, be somewhat long because we're covering a decent amount of topics but i'll try to make it as quick as possible. So let's just jump right into it.

First things: first, today alone, you're, probably gon na see a lot of videos regarding bitcoin, not only mine and that's because bitcoin just broke down uh and things are getting worse. So whenever something like that happens, you got to have somebody on youtube. Take a picture of their face like oh yeah, like the world's ending and then post a thumbnail, so i'm like bitcoin. What price is it gon na go to it's never gon na stop the world is over to get you to click on it.

So you're, probably gon na get a lot of those today. Okay, so with that being said, let's get into it in the past right here. This is a bull flag. Markets are trending up, pulling downward, that's a bull flag when markets are trending down and bouncing like that.

Typically, that's a bear fly. Okay, so they're, basically the same thing just opposite. So we're going up, we pull back bull, flag, break out, pull down trend back this way, that's a bear flag, breakout downwards. Okay, so we have just broken out downwards.

So first things. First, the market, a lot of times is a reciprocal of itself, or it tends to do the the same thing, but in the opposite pattern, a lot of times. So with that being said, here's a bull flag that breaks out right and the breakout of this runs two deviations two deviations. What is that that is from here to here is one here to here is one that equals two deviations.

The deviation is how far something can deviate away from the mean in the case, this is the mean, so this is the average. So this is the norm. Okay, so from here to the mean, through the mean to plus one deviation, so we go from negative one. Negative one being below the white, but either way this is negative one.

This is positive one. These are statistical trend lines. So since we broke out of the bull flag and we ran two deviations, we could very well be breaking the bear flag and running two deviations which would be from here to here all right. So what you should expect is that the next move, you're going to see in bitcoin is going to go down to the price of thousand twenty seven thousand five hundred honestly, it's gon na happen, i'm just gon na say it's gon na happen.

Um it could not, but yeah it's gon na happen, in my opinion, so either way we're probably gon na be seeing the prices of 28 000 to 27 500 within a couple days weeks, but fairly soon. Okay, it's going to happen all right now we're going to look at 180 day for our time frame. Okay. So when we go from the daily time frame, we have weekly levels.

So every level you see here is a weekly uh and i believe, a daily trend. Excuse me: are these just weeklies um there should be okay, those are just weeklies, so these are just weekly trends: okay, long-term weekly trends, when we change the time frame to this 180 day four hour, we're going to incorporate some lines that you see will be between The bigger ones and those are six months trends; okay, so right now, you're just looking at one year weekly trends and when we change the time frame, we're going to incorporate skinnier smaller lines that usually end up being in between the middle of the big lines and Those are going to be dotted and they're going to be six month trends, so we're overlapping or interconnecting. If you may six month trend with weekly trends, okay it'll give you a nice nice picture all right. So when change is 180 day four hour, this is incorporating six month trend and long term weekly trends and the best way that i can explain why we do.

This is right here. So this is a weekly trend. This is a weekly trend. This is a six month and this is a six month.

The reason we use a six month trend are for reasons like this, where the weekly trend is really the support. Okay - and you run up here to the weekly trend, which is right here - you break out and you can't sustain over and you're back under that's resistance and as the market falls back down, it then uses the six month trend as the counter trend. Bounce resistance in the downtrending move back to the support, so you can see we go down bounce back to the six months down bounce back to the six month down six months down six months down, break support. Finally, so it's the six month trend that actually creates the downward wedge resistance into the support.

So if you didn't use this system - okay, let's say you weren't using the system, then you would be on your chart doing something like this drawing a maybe a flat line around here right and then you were drawing your downward wedge like this, so you might be Doing something like that right, if you didn't have these levels, you would be drawing out your own wedge pattern like that. Okay, whereas for me i'm using statistical probabilities to make up a lot of that pattern, uh just in that situation right, you can see it's a downward move right, downward, pennant six months friend is the trend all right, so we don't have to draw the trend line. It's already there, okay and the negative one weekly is the support, so we don't have to guess and try to draw a line there. We know it's right there in that zone.

Okay and the reason that you can kind of never mind so yeah. That's it right. So over the past couple weeks, we've been having this downtrending pennant coming into the negative one weekly now as the negative one weekly breaks all right. When you see that break once the negative one weekly breaks, we have to say well, where are we going to next? Well, the next level down is here the six month trend just like this was right, and you see when we broke back under and below this.

We went right to the six month down below and held a resistance, etc or like this right, you can see when the market broke up, it goes a six month, then it pulls back to the sixth month under six month, etc. Right pulls back hold six months and goes so. This is just where we would expect the market goes to next. Once we take out the weekly we go to the sixth month right, so the sixth month is right here, priced at 32, 370 down to 30 thousand.

Okay, these are going to break okay. This is going to get taken out. This is going to get taken out, but in the short term, these become levels that, on the intraday scale, are used and traded off of by computers. So right now this level this one right here this is going to break that already broke.

This is going to break okay. This is not support, not very good, at least in my opinion. Okay, this level - that's gon na get taken out. Actually already did so.

We can just expect that bitcoin's, probably going down to 28 000 in this zone - 30. 000. 28. 000.

All the way down to 25 in that area. Okay, that's the expectation you should be having uh for bitcoin, okay until bitcoin actually crosses back above this price right here, it's not really good right! That's a you! Want bitcoin back over 38 900 before you're, really cheering okay. Now in terms of where to buy bitcoin. Okay, a great place to buy bitcoin would be all the way down here at the price of twenty thousand.

To ten thousand i mean here is a no-brainer buy, i mean everybody and their mom knows that they would be buying around the 11 000. here. The 20 000 mark is a good spot. The first, the first spot that you're even considering adding a dip buy for bitcoin if you're a trader is, is 28 000..

When bitcoin gets to here there will be a little bounce in this zone. There will be a little bit of a bounce for bitcoin, probably a relief bounce day from this big down move but um. This is a zone where we can already expect there's going to be probably a tradable reversal: bounce, okay in the event, bitcoin really crashes. All the way down to the negative three deviation price point, which is here from 20 391 to 18 490 uh you're, definitely going to want to buy because at that point you're, probably well not at that point you you are buying, maybe michael saylor's bitcoin.

So if you're familiar with the guy michael saylor owns microstrategy, a bunch of talk going on he's got the sells bitcoins around 21 000. If the price gets there, the price can get there, because 21 000 was is with is within the realm of possibilities. It's a negative three deviation move um, it's not common that you're gon na get a negative. Three deviation move, but it happens and if we do get a negative three sigma event here on the yearly scale.

Micro sailor's gon na sell his bitcoin down in the 21 000 area, which basically means you're buying. His bitcoin was that's kind of cool, so uh anyways anywhere in the 20 000 to 10 000. That's an extremely low risk. Buy point doesn't mean that you're going to instantly recover all the way back to all-time highs on bitcoin, but it could be a low for the next couple years who knows but uh in the short term.

You should expect the price of bitcoin is going to go down to 28 000. Now, okay, you guys have a great day and i'll see you on the next video.