What the trace not making an amc video? What is this garbage turn it off i'm out of here. This is a bunch of bull holy the little. What is up everybody? I want to trade straight three freaking talk fast and don't skip class baby, like your purpose. By saying that, i'm going to find your advisor or expert so take what i say the greatest self, let's get into the video, so today my friends, my family, my fellow gorilla gang.

I want to talk about the cryptocurrency market as it is right now now i got ta give you some sort of uh. You know essentially uh statements, saying that i have no sort of vested interest in this. I have no position in ethereum uh no position in bitcoin and i'm just giving it to you straight as i see it so take that for what it is. If it discredits me, so be it right you can.

You can either click off this video continue watching. That's entirely up to you, but what i want to talk about is what i view as a little bit of a bearish market on cryptocurrency, and it's not i mean it's pretty dang obvious. I mean you're already watching this come to fruition right now and some people might be thinking to themselves. You know this has already sold off so much.

I mean bitcoins down from sixty four thousand nine hundred dollars to a low of you know. Twenty eight thousand seven hundred dollars, ethereum, just as bad i mean ethereum, went from four thousand and some change four thousand three hundred eighty three dollars down to eighteen hundred and nine - i mean you might be thinking yourself. This has got to be it. I mean this.

Has to be as low as it's going to get, and i don't think that's the case, so i'm going to show this to you purely based on technical analysis and why, i think there's there's honest to god. This is not the time to buy crypto. Now don't get me wrong, i'm bullish on bitcoin a bullish on ethereum, a bullish on dogecoin long term, but this sort of scenario that you're watching right now is a falling knife. It's scary, especially the bitcoin chart.

This is a monstrous bearish bearish bearish sort of pattern. Here so i want to give you know, not maybe not advice, but what i think would be the best time to buy bitcoin, so you can get the most bang for your buck and not get left bag holding. If this is something that you want to do right so personally, what i want to do myself is when the amc stock is over. I've made my attendees i move on to something else.

I want to put a bunch of money into cryptocurrency, specifically bitcoin and ethereum, because i am bullish on both of those cryptos long term, but the price that i think this is a good buy at especially bitcoin. Is this 20 000 mark and the main reason for that is: there's a large gap between this sort of uh, huge head and shoulders pattern shoulder shoulder head and the next overall you know sort of consolidation, phase and level of support which is down here at twenty Thousand dollars, when is that going to happen right now? I can't guarantee you this to a day, but i would estimate sometime in the next one to two months. You are going to see you know some sort of sell-off if this breaks down on this neckline. On this head and shoulders pattern head shoulder shoulder down to that 20 000 mark where you'd probably see this, you know start to find some sort of ground support level and it'd be a decent, buy.

Think about it like this right, you can see the same thing on ethereum. If you were to look at this and just assume these are one minute candles. What would be the first thought that pops into your mind i'll tell you what my first thought would be. It's a pump and dump you'd think it was a pump and dump now do i think that ethereum and bitcoin and dogecoin were pumping dumps.

Absolutely not pumping dumps. Don't last that long, but the point in the thesis stays the exact same. This sort of price action and parabolic growth is is absurd. I mean that's a huge amount of growth that you saw on both of these cryptos over the last you know, six months or so, and it's not sustainable.

This is a bull run, unlike anything you've ever seen before i mean these are essentially the blue chip stocks of the nasdaq and the new york stock exchange right. This would be the equivalent of watching tesla in six months, go from six hundred dollars. To i mean this: doubled up it'd be the 1200 dollars in six months. Imagine if tesla did that is that sustainable growth.

Everybody knows the answer to that right. If stocks run up super super quick, usually they come back down to gravity at some point in time, and this is the time for that to happen. Now, don't get me wrong if you made money on bitcoin ethereum, that's freaking, awesome! That's what the market's out there to do right to make money, but if you want to buy these and you're, not scalping right, if you want to scalp it, you do what you got to do right, there's money to be made there in scalping. I won't argue against that, but as a long-term holder in a long-term position and both of these cryptos, i don't think now is the time to buy simply for the two main reasons that this is a falling knife setup right.

This is not. I don't think this is done falling yet the fact that it hasn't bounced off of this this uh - you know thirty thousand ish dollar mark and you might be thinking yourself well trey. It's already up three thousand hundred bucks from it's low, five thousand. If you consider that twenty eight thousand dollar mark right, i don't buy it right, the charts, don't say it, the charts, don't say this is balanced.

It's still not in any sort of uptrend. Look at this. It hasn't broken out of this huge, huge, large scale. Downtrend sell-off, you get three touch points here, check this out.

One two: three, i'm just gon na adjust this here. A hair. Three main touch points signifying that hey. This is a downtrend.

It hasn't gotten out of that downtrend. Yet it's not finding any sort of you know ground floor and you might be thinking also well trades. It's winding winding up right. It's doing this trading sideways back and forth back and forth back and forth thing, but consolidation in a downtrend is not bullish.

It's actually a little bit bearish right. Consolidation in a bull trend is bullish. Right. Consolidation in a downtrend is not you want to see that balance, and we just quite haven't gotten it yet, especially on bitcoin.

Now. What would that look like for ethereum ethereum's, not quite as bearish you've got? What i would say would be is that sort of ground floor level down here at about 283, and in this case it's actually a good thing that you know outside of this huge parabolic move right here. These are daily candles by the way outside of this huge parabolic move right here, ethereum grew, pretty decently, slow and slow growth means there's more floors, more foundation, more consolidation, more support levels to hold it up when selloffs do end up happening. So i think, where you'd see this plus or minus you know a couple hundred bucks uh, you know bitcoin be plus or minus about a thousand, so somewhere between nineteen thousand and twenty one thousand is what they're gon na fall back to in the next one or Two months, this is what you'd be looking at right somewhere between what i would argue is thirteen hundred dollars and about 1200 or so right.

That's where i think ethereum is going to be a decent buy now looking at dogecoin. Dogecoin is a whole different story, and this one honestly is a little bit scary to look at because it's trying really really really hard, not to uh fall off a cliff here, and i, like i said i i'm just laying this out to you as a technical Trend, you know, i think dogecoin is freaking the coolest thing since sliced bread and i think, there's more money to be made here, but i don't think that time is now. I don't timing. Is everything in the stock market? Right luck, timing, grit skill.

All four things contribute to success. You really can't control time. You really can't control luck, but you can wait until timing presents itself to you and then take advantage of timing, and now is not the time for dogecoin it's just it's. Just not you can see it in the trend you can see in these daily candles.

It's just selling off now. What makes me a little bit nervous. You know for many people who are holding dogecoin out. There is the floor for this there's really not much of one.

I could you could slightly argue. You've got some sort of floor 14 and a half cents just because of this. This wick right here so i'll drop that 14.5 cents, probably plus or minus about uh. You know half you know, 50 cents or so 0.5 cents, whatever it may be, but outside of that the next level is about 8.9.

So you know if it does sell off here you don't have a position. I think that's a beautiful opportunity to buy. I really really really really really do i mean that'd, be the most tasty stupid nasty disgusting dip buy that you can get on dogecoin. Probably ever i don't know if it'll ever happen again, but you get my point here.

This also has that head and shoulders pattern shoulder shoulder head neckline and if it breaks that neckline guys, it's gon na pull back right. So i'm not here to fear, monitor anybody, i'm here to tell you how it is because i think there's money to be made in the cryptocurrency market. But this is the facts right. You watched a parabolic sort of growth in the last six months on all cryptocurrencies.

All altcoins right, they all went on their massive bull run and now they're, starting to cool off a little bit. Some people are taking their profits. You've got some some large-scale economic things that are starting to happen that are affecting cryptocurrency, and this is just what i would personally do you do what you got to do. That's your own financial responsibility right.

I would wait now's, not the time you don't want to catch a falling knife because catching a fallen knife. Your hands, usually end up all up, so you want to wait this one out. That's just my personal opinion. I think these are the zones.

That would be a decent, buy i'll revisit this video at some point in time, when i think you know the time is right and that's what i've kind of got for you guys. So, hopefully, if you're holding you know cryptocurrency, this isn't some sort of uh. You know some i'm not trying to insult anybody in the least bit right. This is just something that i'm seeing on the charts and something i want to get out there, because i truly do care about everybody's pockets right.

I want to make sure that you guys are all aware of the decisions you should make if you are invested in one dap deputy tap, tap light tap baby, much love and peace.