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Over the last 24 hours Bitcoin has Plunged Into the Danger zones what does This mean for Bitcoin and cryptos in the Short term and the long term where are We going from here especially ahead of Earning seasons in the U.S with the Stocks and the S P 500 and NASDAQ coming Out in the next one to two weeks some of The big players so let's dive into that Analysis today by first hitting up that Like button and click the Subscribe if You haven't already remember this is a YouTube video so I do suggest looking at The video description there is a ton of Information down here I'll leave some More data for massive specials and Bonuses going off a buy bit and bitget For a limited time uh some free usdt Giveaways for 100 deposit bonuses Details will be in the video description Enough of the shells let's start with The first things first being the earning Season what's coming out next week for The US this is going to be the headline That are going to start taking effect Probably in the coming days if they Haven't already because we have a lot of The major companies coming out with Their earnings just like we saw recently Wednesday there was Tesla there was IBM We had a t Etc etc okay so next week there are a Few bigger names here there was Google I Saw meta as well Amazon through here so
You've got some of the big platforms Talking about their earnings next week And what we saw in 2022 was a lot of Misses and the market was expecting much Further downside yet it seemed to have Bottomed around the June and October Lows of 2022 for the s p and for the for Bitcoin was that significant June low And the FTX collapse low in November Since then the markets have all rallied Like we've looked at yesterday 25 for The SM uh 19 for the s p 25 for the NASDAQ and around 80 or so percent for Bitcoin so how is this going to wipe out Some investors well it's a little Tongue-in-cheek but there are a lot of People still sitting on the sidelines we Know that from the amount of funds that Are still sitting in bank accounts and The differences between the money Invested in stocks and bonds but this is The latest narrative that is spreading Across the s p or at least the financial Sector looking at few stocks have Outperformed the S P 500 Index recently So the fear here which is keeping a lot Of money on the sidelines and Potentially leading them to miss out or Try and short the market when Potentially we go up this is all just Speculation on that side but in terms of The objective data which is right here In front of us this has shown in the Past to be a bad time to be getting into
The market so it's warranted you would Want to sit out on the sideline if this Is the only thing that you're looking at So what it means is there are fewer Stocks outperforming the s p in the Index and each time this has happened Like you can see here for 1999 2000 it Was somewhere around a peak and every Time you have a look at some of these Lower points here you sort of get quite Close to some of these Peaks and right Now we're at one of the lowest points That we've seen on this particular index Reading right here however when we look A little further down a few stocks are Driving the s p higher this is less Stocks are really there pushing the Market up itself but even so there were No double-digit losses over the next Year so when you start to pull apart all Of that data it's not such a bad outcome When you look at over 100 years or sorry 95 years getting up to that point now of Data and how the market is performed After that point stocks would definitely Volatile after some of the signals I Think all of us can expect some Volatility next week especially with the Earning Seasons coming out all the Reports of the earnings several suffered Large drawdowns we're definitely going To see that just like we saw with Netflix missing the mark and and Dropping there
At various points in the next year but The s p still showed median gain of Nearly nine percent so it's higher than Random but looking at this the s p has Showed a median gain of nearly nine Percent during this period especially When the stocks are still a few stocks Are driving the s p this is on top of The other data that we have looked at For the presidential cycle which has Shown 13 to 16 gains in the third year Of the cycle which is what we are Currently in next year is the fourth Year which is the election year on top Of many other factors that we have Looked at especially with the first 35 Day signal the first 90-day signal all Those sorts of things that we've already Looked at on the channel so make sure You are subscribed and like the content Of course this is your macro cycle Analysis home all right so that's one of The big reasons there that I can see why There's still money sitting on the Sidelines some of the money is trying to Short the market which we've already Looked at before and eventually this is Going to push to the upside we're Climbing that wall of worry which we've Also looked at when it comes to the news Headlines The fear and greed here for the s p we Haven't seen anything extreme for some Time so the last last time we saw some
Extreme emotions were of course much Through that collapse of the banks and Also the Peaks here at least on the Reading were was back in late January And early February but for now we're Still in this range here between Excessive optimism and excessive Pessimism so we're between the 80 and The 30. and what we've also seen from The model is that the market drops into Pessimism as the market is climbing Higher and Higher and then at the lows You can see that the trend itself has Started to try and Peak its head up into That excessive optimism so it drops into Pessimism on the way up and then on the Way down is rising into that optimism The main thing I'm focusing on here are The higher lows that are forming in the Market Center submit you can see we've Had higher lows going from the pessimism Up into the neutral zone meanwhile the Market is basically forming a rounding Bottom the smart money dumb money Confidence spread also shows a similar Sort of pattern you can see here the Market is rising with some pretty Significant Falls in between but it's Also continuing to rise there into the Peak of early 2022 and then we had the Bear Market of 2022 Market has risen From that point but is now hitting a Resistance level but what I'm seeing in The confidence Market dropping yes we
Had a big spike there that was covered And then the market dropped back again Underneath the negative 0.25 so being Under negative 0.25 is excessive optimism and so it's Remained there while the market was Heading up and that seems to be what we Are in again the excessive pessimism is Above 0.25 so that's this green line Here it's almost inverse what you would Expect expect pessimism to be red and Green to be optimism nonetheless it's The opposite so the green here is Excessive pessimism and so that has Occurred through the top and on the way Down and is now starting to roll over And looks like we're heading into more Of these type of Seasons that happen Earlier on in those bull markets now It's not exact there are spikes in Between that's typical because we get Volatility within the market sentiment Itself but for now it looks like we're Starting to roll back under the negative 0.25 which is into the excessive Optimism Broadly speaking typically shows at Least in the last six years A move into that bull market territory This is just from the low it's not the Crazy bull market feelings that you get At the top of the market but the starts Of them from the lows moving across to The chart of the s p yesterday we're
Down point four seven following a 0.1 Loss as well that's essentially just These two tiny red days here now if I Throw on a few lines to give us a look At some of the support and resistance This is still the zone of me showing That I'm cautiously confident in the Market going up it looks like we are Continuing to push up on the back of a Wall of warrior we've covered many many Bullish reasons now and yes that Continues to show up many bearish Reasons however they seem to be on the Back burner for many investors at the Moment or at least the smart money the Silent money that is getting into the Market some of these reasons have been Pointed out by you guys here now I Wanted to mention this because it's a Valid point that you can think that ta Is only assuming the last 10 years this Is completely untrue the TA the rules Used in the analysis here are based on Over 100 Years of data it is again swing Indicator this indicator came out in the Early 1900s printed on a chart by again By pencil so missed again did it in Pencil and pen on his own hand-drawn Charts that's the supporting evidence of The Swing indicators and the 50 levels Among other things so looking at Bitcoin And the s p this is based on many years Of data looking down to the support Levels now for the s p looking at around
Four thousand and sixty points that's The level that I've got my eye on for The short term for any sort of pullbacks Especially during next week in the Following week when we get some of those Earning reports come out should we fall Back further we do have many other Levels here we can go back to 39 you've Got the lows here at 38.50 and if we Start to use the 50 level to the uh the Banking crisis low you've got around 4020 so plenty of support to the Underside of the market especially as It's made up such good gains to the Upside on the back of a big bearish Event of the banking crisis now onto Bitcoin and cryptocurrencies so it's Kind of similar when it comes to the Market sentiment at the moment it's what We've been looking at with the market Sentiment the fear and grid index Becoming a little more volatile like we Can see over the last couple of days We've gone from 69 down to this low of Around 52 and I dare say today's going To be a little lower again nonetheless The main thing here is the trend the Trend is volatile and it is pushed down From the resistance at around that 70 Point level down to in the 50s which is In the neutral zone so this is typical Of the market going up we've seen that Many times before and so what we're Looking for now is some sort of support
To come out at around 40 on the index That's possibly where we'll see a low or At least a grind along in price for BTC Remember what we looked at previously When it came to buy zones so this is Going to be important part moving Forward 10th of February this is just a Little Shield to my Twitter account here I talked about Bitcoin under 22 000 is a Great buy Zone I was especially looking At that zone buying up for my super fund Which I do sometimes post about on Instagram as well so the amount of money In my retirement fund Bitcoin under 22k is the buy Zone that Was dead on this period here as the Market started to break down and I Tweeted right there so below that level Of 22k I figured was a very good support Zone especially with what had just uh Happened in the market with the market Booming up from there now of course we Did come across and reach that level Again but every time we went under that 22 it wasn't for very long and in Yesterday's video I talked about any Prices around that sort of 21 to 22k uh Underneath that is more than likely I Think a missed Opportunity by investors Sitting on the sidelines so it's not Necessarily all the investors are going To get wiped out but Sitting on the sidelines sort of makes You feel like you've lost and you
Typically get into this mind frame where They start to buy up higher and then you Get these pullbacks and that's what We've been looking at here we did get a Pullback here short term remember Because the market wasn't able to push Any higher and it got back into this Yellow uh danger zone so the point of The danger zone is that if the price Wasn't able to hold above the previous Tops which of course is our 100 Years of Data here the Gan swing indicator not The 10 years of Bitcoin data or 13 years Going underneath these swing tops is not A good sign at least in the short term Because it's showing that the buying has Come to an end and being under this Particular level especially under the Bodies of the candles if you're choosing That is a much weaker sign to show that The market needs more time now to Accumulate and decide where the next low Comes in so to the downside you've got 27 200 and the next swing bottom here is A 26 500. all this is doing is just Buying more time for the market to Decide whether we get marked up or Marked down it's the typical Wyckoff Pattern which also has over 100 Years of Data remember Wyckoff was around in the Same time as Mr Gan this is Mr Wyckoff And the market essentially just goes Through an oversold markup overbought Marked down rinse and repeat that you
See happen time and time again and so if You get marked up and the price isn't Able to maintain those levels what has To happen the pendulum swings and we Come back into that zone that's the Short term as for the longer term Nothing has changed yet I don't expect Anything to change but at the end of the Day I don't know what's exactly going to Happen on the black side of this chart The right hand side all I can do is Assess what I think is going to happen Have a bias because you need a bias to Be able to enter the market whether You're buying or selling and understand Your time frame as well my short-term Bias is to the downside now that we have Broken underneath the 29.2 and then Under 28.4 so it's without a doubt that The short-term bears are in control but For the longer term chart and the longer Term bias it's still to the upside Because none of the significant levels Have been taken out now bring up this 22k Zone because we have fallen into This period here and a lot of the Questions then are is now a good time to Be buying I think somewhere if you get Any sort of Wix into the zone between 25 And 26 and a half seems to be a Reasonable area we have to wait and see I'm not telling anyone who go out and Buy of course there's no Financial Advice here just my thoughts on the
Market based on the data and the facts Of the charts but anything in that sort Of zone for now seems like a pretty Reasonable area that's even if it gets There maybe we just hold up above 26 6 Which is uh the FIB level here from the Banking crisis low to the current top 50 Level comes out dead on those previous Tops at twenty five thousand three Hundred and the 61.8 is basically at the Exact lows here at around 26 6 26 and a Half so in terms of timing it seems like This is around that point nicely pointed Out by Michael my brother in our Tia Premium group here as we look towards The 140 day counts which typically put In significant turns in the market and This was posted out if you can see back Here on the 6th of April so looking for Return in the market which happened just A week after this point here so pretty Good timing in terms of Gan Cycles as Well well but for now in terms of price We have to see whether the market is Going to hold support at 26.5 or if it's Able to come back and test 25.3 it's a Bit of an up down sideways scenario now Because it seems like at least for the Short term the time has run out to the Upside this is where the Bears get their Day I suspect they'll get loud again but I don't know if they'll be able to get As loud as they did during that banking Collapse let's wait and see each of the
Downsides now have become less and less I suspect the next downside is going to Be less than the previous downsides but Who am I just a guy on YouTube make sure You like it up subscribe to the channel Hit the Bell notification icon and you Know what to do links in the top of the Video description I'll have the details About those bonuses by bit and bitget Free cash on offer there limited time Thanks once again guys have a fantastic Weekend I'm going to do a free diving Course tomorrow so no video tomorrow on Saturday let me know if you've got any Tips about free diving leave them in the Links down in the comments section down Below and I'll see you at the next one Till then peace out