Everyone kevin here so cryptocurrencies are starting to fall and a lot of folks are wondering wait a minute what's happening. Why are cryptocurrencies falling well in this video i'm going to take a stab at addressing why i believe cryptocurrencies are falling, but first this video is brought to you by block five. You want to earn interest on your cryptocurrency deposits and get up to 250 totally for free go to medkevin.combf. Okay, let's take a look at uh some background here, so we just this week had peak potential short-term media for cryptocurrencies.

Why and what does that mean? Well, up until about a week ago, we haven't had much mainstream discussion for cryptocurrency in mainstream tv, fox, cnbc, local news stations, cryptocurrencies, just weren't super mainstream up until recently, and they have been before it comes and goes in cycles right up until recently, though, because of The launch of the bitcoin futures etf, my expectation and i have not looked yet, but my expectation is that cryptocurrency related searches are probably starting to slow and we know that 70 of trading in bitcoin is done by institutions and when cryptocurrency or the cryptocurrency bitcoin falls. Others tend to follow down, and we also know that institutions like to trade trends, also known as social momentum. So when social momentum slows, prices can tend to fall as traders move to other opportunities, and this is where what we're going to do is we're going to look at trends and we'll look at we'll do a little bit of ta to see where we might fall To then, we look at well wait a minute where might the money actually be flowing to so, let's take a look, if i type in just bitcoin in google trends, what we're really going to want to look for is something within the last 30 days. Here last 30 days, we've got a good increase here, all the way through the 19th.

So we actually don't have the last three days of data on the 30 day, so we're gon na have to go down to the seven day. And here, on the seven day, you can kind of get a feeling that on wednesday, when we really went wednesday morning likely when we spent a lot of time talking about that bitcoin futures etf, we got peak searches. Yesterday we were yesterday around the morning. We we were about 20 lower, and this morning, we're about 40 percent lower, so we're seeing that trend kind of slow down.

But where are we seeing a trend? Take off well try dwac! For a moment. This is where you have exactly the opposite happening: a trend. Taking off so you've got social momentum potentially moving into some of these other opportunities, and i want to show you because you might not think oh well, you know why would somebody go from bitcoin to digital world? Well, it's the same reason why the big losers right now in today's market, which there are a lot of them, but the big losers, with the exception of those that had earnings or pre-earnings releases like snap and beyond me, you have a lot of momentum, place, vinco, Ater intel had earnings, so it doesn't count wishes. Uh momentum naked is momentum, fuel cell camber, embryon, microvision, sos btx qs.

All of these right here are momentum based plays including smile. Direct trade desk is an advertising related play. That's going down because of the snapchat uh reveal, but amc gamestop, almost everything that is momentum based is down right now, and so i'm making the argument that this fall in bitcoin is actually just a temporary sell-off by traders. People who came in because of the hype around the bitcoin futures etf, now we have the bitcoin futures etf.

The hype has left, the trends are starting to fall and therefore the price of bitcoin is starting to rotate down. Now, how far can we go down? I personally believe 58 000 as a potential support level that we might hit. It is not a very strong support level. So if we break past 58 000, it's entirely possible that we're going to break down to about 54 353..

So i'm going to keep an eye on this, but 54 353 you can see over here. You've got a nice channel between this 58 and 54 region here in recent days. This is the one hour chart if i go out to the day chart. Let me clear these because i know this is a little messy.

If i go out to the day chart looking at this, without using some of my lines, it would seem holding on to 60. Obviously, a big deal, it's a psychological threshold as well, so very important, but otherwise looking at this without any lines and just trying to find a place, that 54 looks like a pretty strong support level. Not only do we bounce off over here, but we bottom out at 54 - multiple times earlier in the year over here, of course, uh this right here, this big summer crash. This is when i did a lot of loading up on cryptocurrencies.

I took my portfolio from somewhere around two and a half percent to somewhere around seven percent in cryptocurrencies now so still not like over ten percent, but much more bullish and great opportunities here to go shopping. But that's hindsight right so now we've got to look forward to new opportunities. Remember that this low here was really driven by china. Fears of china banning anything related to cryptocurrencies, essentially with the exception of hodling, but any kind of transactions or mining.

There was a lot of fear happening over here, just like we had a fud summer for tesla and i kept encouraging buy tesla, my tesla by tesla uh. Usually it's when you're at peak fear is when you want to go shopping so right now. You know folks folks were asking over the last few days. Should i buy bitcoin? Should i buy bitcoin? Look, i don't.

I don't give financial advice on the internet, but a uh, something that i always look at is wait. Wait for the media to go away. The last thing you want to do is you want to speculate into something when you're in a peak media session, and so i do expect us to pull back and i think there'll be a nice opportunity to go shopping and going around that 54. 000 to 58.

000 range uh for bitcoin, i think for ethereum. Let's go ahead and see if i can get any drawings on ethereum here, so i have lines set for ethereum at 37.06 - that's probably where we might fall to here. More recently, this might be an hour uh line in terms of why it was drawn. But beyond that uh i don't have a lot of ta pre-drawn.

If i was going to look at the day, chart uh yeah, 37 37 seems to be a an area that i would look at. A couple couple touch two three touch points here: uh, certainly uh sitting above that uh or at that 34 number. We tend to stay channeled here. You've got resistance over here.

You got support over here and again you're looking away from the summer flood season, probably looking for a discount more in line with, potentially even this upward trend that we have right here. So if i draw a trend line here - and i grab a little bit of ta over here - maybe we could get to yeah that 35, 34 35 level. Again, i'm going to remove this because it's just not that well of a drawn line. Let me go down to the hour level here.

Let's see how the hour looks see. This is where you could see the lines working a lot better, uh all because i usually draw these off of the hour, and so we got our bounce here. 4K 4k is a psychological touch. Point we've broken that we're now sitting on the 200-day moving average, basically bouncing right off that 200-day moving average.

This also the 200-day moving average kind of reiterates that trend yeah. You can see that that trend line looks very very similar that we drew here for um very similar to the 200-day moving average, so that again reiterates somewhere 35. Something like that for ethereum. I'm going to jump over to ada ada here, ada had a little bit of an issue where we had our summer collapse and weeble doesn't show any historical here, but there is also historical, but anyway we had our summer collapse and we had a lot of hype.

Going into the smart contracts, this is the same thing that i expect to happen with btc and we're already seeing that now is you had a run out of the summer dip got over here to uh. You know to above two dollars doubled our money here. He did triple, though, at one point, but a lot of this right here, this fat, i like to call this the tumor. This excess tumor right here is really, in my opinion, a result of hype around the alonso hard fork.

So that's that's my expectation here for uh ada and looks like tesla just got uh credit upgraded by the s. P. That's pretty good, but another thing you're gon na see here is you're starting to kind of channel here on ada you're channeling between 208 and about 230 is a little high, let's say 208 to 215 you're, probably in a channel over here. So i don't know that i would add to ada right now, unless i saw a catalyst coming or i saw a breakdown under this channel.

So, for example, if we broke under 208 went back to 200, i start two dollars or under two. That's probably when i'd be a little bit more interested now i haven't done sol or salan technical analysis yet, but i'm willing to do that. This is actually my first time looking at ta here we did have a little bit of a run-up. I was going to post a fundamental analysis.

Well, i shouldn't say fundamental more of a coin analysis. Yesterday now, solana, uh. I still need to make that video. I i've not finished filming it.

Yet, though, i have researched everything and i'll just give a little bit of a preview, i'm i'm impressed. I do have some concerns, but i'm impressed and my concern has nothing to do with the stupid uh. You know centralization issue. I will be addressing that fear not, but i'm actually bullish on solana.

So i like this a lot. You know i think, just on on very basic, simple ta here. I think you've got a very easy uh support at 178 or sorry resistance level at 178, but that could end up serving as a support is what i meant to say. You've got you know, maybe you just don't have a lot of support in these price ranges here.

Let me go down to one hour that doesn't help me a lot either. I'd probably say sitting around this 200-day moving average is probably closer to where i'd want to buy it. It regularly does fall under the 200-day moving average, so i probably wouldn't want to buy it. Of course, you know you could be trading above the 200-day moving average for a while.

Here i mean look at this. You went from 66 in august to the next time you fell below the 200-day moving average was 168.. So and then you fell to 135 116. So you would have missed out on on a 2x trying to just trade with the 200-day moving average, so you do have a risk to consider there.

Looking at the 200-day, i don't personally love buying on super hype moments, so i'd probably try to. If i was trying to enter this or time it probably be trying to get back to some of these levels over here that 150 level, we've got, in my opinion, a nice channel over here. A lot of recent enthusiasm here: motley fool articles and discussions about it. Uh but uh, i'm i'm satisfied also right now with my crypto positions in that i don't need more exposure to crypto right now and one of the reasons i'm saying that is because there are a lot of stocks that are selling off and remember, i'm a big Fan of trading between stocks and crypto, so these are some of the things that i'm looking at like, for example, matterport.

This morning i executed a trade at matterport. Probably uh posted a notification about this somewhere around 1890. Something like that. So i was doing some ta.

Just watching mad report and made a purchase here, of course, if you want all of my buy, sell alerts, they're not guaranteed to make you money. But if you want to just know what i'm looking at, because i literally sit here, i spend all day doing this i'll pay. One time join the stocks in psychology money group, it's small investment, you'll, learn a lot with the lectures your lifetime access to the lectures, and i think you'll love the um alerts. I do them for crypto options, stocks everything check that out, link down below and uh.

Folks, uh yeah look i'm bullish on crypto. I want to make this also very clear because sometimes this gets lost in the shuffle. When i talk about you know, crypto falling i'm bullish on on crypto. For now.

I do think that long run. There are potential deflation risks uh. If, if we do start inflecting into a deflationary era, i think there are going to be risks for for uh cryptocurrencies, but that's really far down the road right now i don't believe. That's really an issue uh that we even need to begin talking about, probably for another six to 18 months, quite frankly, but uh between that time frame between now and then i'm bullish.

I actually think 2022 is going to be a phenomenal year for cryptocurrencies and i think this pullback right now is just a temporary uh. You know trader removal, uh, let's get the hype out of here. Let's uh: let's go back to a level where i can go shopping, which is fine with me and again, if i could get uh into this uh. This 54 000 support here, especially if we start showing signs of bouncing off of that 54.

I i'd be down to add uh to rebalance a little bit because i'm a little overweight right now in ethereum, and i'm trying to keep my portfolio 20 btc and uh 40 cardano and 40 uh ethereum, though i'm open to potentially, especially if we get a btc Dip and maybe it pulls solano down episode down - i'm open to potentially um throwing a fourth coin in there and uh seoul's. What i'm looking at, unless of course it just it keeps running, i i don't. I don't need to chase it so anyway uh it and then, if i haven't made it clear yet. Yes, a lot of traders right now are going into things like uh, dwac, uh, fun, ph un crtd right.

These things are getting a lot of attention. A lot of movement right now, uh just be very careful here. Okay, get in. If you start seeing the technicals move, don't rely on somebody else to tell you to get out.

You take your profits. Sometimes it even makes sense to take a small loss to avoid a big loss. Keep this in mind folks, thank you so much for watching this video. I will see you in the next one thanks again goodbye you.