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Bitcoin has just taken out key support Levels so is now the time to be getting Concerned about this move to the Downside let's take a look at what's Happening with BTC in the short term What it means in the long term taking a Look at Key resistance levels that the s P and the NASDAQ are coming up to is They're making up the macro cycle giving Us Clues as to what to expect for BTC Now that we see it starting to slide Past key support levels don't go Anywhere hit that like And subscribe to The channel and top of the video Description you guys are killing it with Our free trading workshops I'll talk About this more but well done to crypto Bonds nearly 400 there 50 and plenty More to go all right guys let's just Start with the overall macro news the Most important stuff which is important Until the next one comes up the interest Rate announcements federal funds rates 5.25 was the forecast that was the Previous and now that's the actual so This is the first time that the FED has Not raised race rates since January of 2022 so it's been about 18 months since The US has remained a steady on those Interest rates this might be that little Bit of a scare to the market that Investors have been waiting for this Whole pivot Scenario this pivot bearish narrative
That when the FED finally pivots the Markets collapse but like we've covered Before this is absolutely untrue not my Opinion it's the facts on the charts the Markets can remain in high territory at High prices increasing at prices when The FED pauses or even if they decide to Drop interest rates and then later Increase the interest rates we have seen This happen before this has happened Through 2004 2005 2006 pause pause pause Pause pause pause pause all through 2007 Until we got to the peak in the market And then the market started to come down So one might say well the interest rates Came down and the market started to Collapse in the mid 90s we had interest Rates going up down sideways increases Again yet the stock market continued to Go up there are plenty of other examples In history that show this as well we've Covered it on the channel so we don't Need to repeat it here but that Narrative of once the FED pauses and Drops interest rates the markets must Collapse is totally untrue it does not Happen every single time that is the Data itself so let's move on with what Else is going on in the traditional Markets this has made up the bulk of the Moves to the upside it might even be an Early warning sign for BTC the NASDAQ is Currently less than 11 away from a new All-time high it was only a few months
Ago October of 2022 where it hit its Cycle low we had the recession fares Down there the markets look like they Wanted to collapse further at least that Was the fears due to recessions and Interest rate Rises and every other Bearish narrative yet we now see it Pushing to Fresh highs so again this Morning we've seen a new highest close For 2023 for the s p a new daily high For the S P 500 new highest close for The NASDAQ a new daily Hive for the NASDAQ and for Germany someone better Tell them that they are in a recession Because it hit a new all-time high a new Highest closing price If that's what a recession means in 2023 Or 2024 you better look out looks like These stock markets want to hit new All-time highs even with a recession so Don't let those narratives fear you out Again it is becoming almost a joke when It comes to the recession calls that Sort of stuff Germany someone tell them Please they hit a new all-time high on Their stock market let's take a look at This in an update for the S P 500 there Is the resistance level we're waiting For around the 4 500 points up to this Top Point here around 4 600. so I've got Bears attack the fear will rise we're Not there yet but it looks like the Markets are coming towards a turning Point we're following up on the vix
The volatility Index this thing has Bottomed had a little bounce away and Coming back down again there will be a Pullback we're expecting a pullback We're expecting a healthy correction for The stock markets s p NASDAQ your local Stock market wherever you are around the World but right now these are obviously The biggest markets this is what we're Following and that's the reason why s p Like we saw new highest daily close this Is all still on trend for a new all-time High in the coming months to years we're Not getting too far ahead of ourselves We're just following the charts looking At the facts the data that is getting Printed day in and day out markets are Now taking out previous resistance Levels like we saw from August of 2022 The market is shooting up so this is Getting a little bit fast a little bit Too much for our liking but remember Markets Can remain irrational longer than you or I can remain solvent don't fight the Trend at the moment the narrative is Correction and depression and collapse It's getting less and less but Nonetheless that is still the narrative The facts the data the chart what's Going on day to day what the investors Are doing the Traders they are buying up This market so I'm not expecting the Market to break down any key significant
Levels S P 500 I'm going to stick my Neck out here on a huge ledge and say It's not going to go below 3 800 points That's not going to happen we've looked At that if I wanted to stick it out even Further some might even say my nose Could reach the end of that ledge we'll Let that joke slide essentially 4 000 Ish points I probably would say that This Market s p probably probably okay Won't see under 4 000 points in this Cycle again we've seen it test it Multiple times seen it get rejected that One there is just for a bit of a fun of It but I'm pretty much sticking to this One here 3800 points Market's not coming Back to that until whatever happens in The next cycle we'll wait and see but For now this thing looks like it's Heading up Same subtle deal for the NASDAQ we have Come up to this resistance point a nice Key area in the market it's at a key Resistance level this could be a turning Point for the NASDAQ it's back up at 15 200. it was only a few days ago we were Where we have been waiting for this Market to hit around 15 000 points for The first time since April of 2022 so Over 12 months ago and it's done it so The NASDAQ looking very very strong I'm Putting a lot of emphasis on this Because the the question of the video is Should we be concerned about bitcoin's
Crash Bitcoins dropped to the downside Bitcoins three percent down day and the Point here is that these markets are all In very much bullish territory although There will be Corrections there has to Be Corrections there's got to be healthy Corrections here so the key thing is When we get the corrections just look Back to the key support levels that have Occurred in the market we have our 50 Level here which also was some support Some resistance support again in before The market really bounced away for this Last sever a few weeks from the move From mid 13000s to now over 15 000 Points on the NASDAQ and yes it's being Held up by only a few stocks that isn't The point the point is the market is up And the market is going very strong so Sticking my neck out again here let's Say this low right here this is a kilo Probably not going to see under 12 800 points again in this cycle but I Like this one much better I doubt we're Going to see underneath 12 000 points so Basically 11 800 nasdaq's not going to Come back down to that point in this Cycle and if it did fall back down past That key support level this would turn For a very long time probably months We'll see we'll wait and see if it's Years but nonetheless this Market is Still up nice and strong same deal like We looked at for just quickly on the
German Market this like so you can see It with your own very eyes a new All-time high price 16 000 336 the Previous all-time high price was last Month a month ago 16 332 so Four Points Higher and it's the highest close in History remember Germany announced a Recession Back at the end of May when it hit two Negative quarters of GDP growth it hit An all-time high prices today so the Recession fears this is one for the Playbook if we see a recession in the U.S I'm probably not going to be too Concerned it seems like this is the time In the market where investors are Getting back into that risk appetite so What does that mean for BTC where can we Go from here Short term we're still on the slide Obviously that's the short term there Top was April two months now we are down To a new Fresh low for this period 24 800. I will admit this has gone a little Further than I would like that I'm Comfortable with however you know many Times before we've been looking at a key Support level back here 23 900 and I've Been calling it twenty four thousand Just for a round number for the videos The reason being is we see some Resistance
And we've seen it used as support on the Way out so that's a key level that we're Looking at now this 50 we've closed Under it for one day uh potentially we Have a couple more days here and then a Move to the upside would then cancel any Sort of look to the downside we need to See higher highs higher lows form we can See our swing chart is still well and Truly down we want to see the swing Start to get back up form some higher Highs and higher lows for the Bulls for The Bears they definitely want to see it Get rejected here at 25 3 to test Further downside so that's the case then This 50 level no longer We get rid of that we move it back to The next key support level and that was The cycle low so 50 now would then Become 23 255 so a few hundred dollars several Several hundred dollars lower actually Than our key level here that we're Looking at for 23.9 so about 650 bucks If you want to be precise on that so We're looking in that zone for the next Support in this short term downtrend Before we could potentially see a Reversal so that's what the short-term Fears are for BTC and the short-term Support level prices but like we've Covered like I've covered for a long Time at the beginning of the video the Stock markets are up S PS up nasdaq's up
Uh Dow Jones is up Germany hitting new All-time high prices in a recession and Many other countries around the world Are at all-time highs or trading around The all-time highs looking for another Attempt at those higher prices we've Also seen the US dollar break under the 50 level it's had a push back today so It's moved up it crashed down to 102 6.6 And now we're just coming back up to Test that 50 from the underside which is A weak sign short term it's a weak sign But nonetheless if we start to see this Roll over again maybe that will ease up For btc's price and we could potentially See a move to the upside So looked at the short term should we be Concerned this is what we've been Covering for months now looking back at This video here which is about two and a Half weeks ago May 30th looking at the Price and volatility forecast for June So everything that I've talked about so Far has worked out reasonably well the June forecast was basically an up down Sideways forecast because that is what Has happened in the past for June we've Seen the returns basically being netted Out here they're basically an average of Negative 0.9 for the end of the month And so far for June we are sitting at Negative 7.8 percent so overall for June it Didn't really show any sort of movement
Uh in in history last year huge month Down It was in a bear Market 2018 15 down it Was in a bear market and then in 2014 Which was the other bear Market only had A two percent Plus at that point so Really overall for for BTC it's Basically doing what it's supposed to do During these two next uh stages Basically I've sectioned these off as Six month blocks in the overall bull Market the last three six month blocks Are the exciting time that is where a Lot of the gains are made in the market Or at least the fast quick gains Especially for all coins but if you're Looking at a higher percentage return This is a time that you want to buy up For the stronger cryptocurrencies Obviously Bitcoin ethereum some others Might make it And that is where you're going to get The bigger multiples but that's only if They survive until the next bull market And put in bigger gains than Bitcoin and Ethereum of course so right now second And third six monthly periods are doing What we've talked about just basically Grinding sideways but it definitely Feels a lot worse than a grind sideways Because not much has really happened Over the last several weeks as Market Has been trading between 28k and 25 and A half K so basically two and a half
Thousand dollars a full 10 range let's have a look at that yeah Nine ten percent range all the way up to 28k so normally in a fast moving bull Market Bitcoin is going to be doing 10 a Day we even saw Bitcoin do 10 days when It bounced out of the March banking Crisis low which it is still above now So we sort of do nine percent on the 13th sorry do 9.6 on the 17th so really We've been sideways trading in a one day Range so any sort of quick moves up or Down uh the most excitement that we can Hope for in a sideways market so the Short-term moves can be quite extreme Because of how small the moves are but For the old coin trading you guys have Been absolutely killing it really Crushing your short-term trading plans And you can find a link to this in the Top of the video description jumperboard There'll be a free trading Workshop Coming out very soon but in the short Term you guys have been absolutely Smashing it huge congrats to 400 200 200 200 130 160 60 to Mr Nice and for one of Our new Traders here uh 100 as well on The xrp short so in terms of BTC is There anything to be worried about if we Can answer that question I don't think So nothing has really changed when we Look at it in terms of a macro picture But it's going to feel like that in the Short term because we just don't see too
Much volatility for BTC and whenever we Get a five percent or like we saw a few Days ago 2.3 percent or like we saw Yesterday at 3.1 percent this is going To bring as much emotion as that we Could hope for because there really Hasn't been anything going on the Bears They need this to remain underneath 25 3 And then they need an attack at this key Low this is the Turning Point here this Is where I will have egg on my face and Say well bear Market is back on bulls Absolutely wrong that is the key turning Point down here nineteen thousand five Hundred dollars so keep a lookout for That I'm sure the haters will hit the Like And subscribe button if you haven't Already basically what I think is Happening from this point now that we've Seen this move down of about six or Seven yeah six and a bit thousand Dollars is that we have longer to grind At these levels before we test 31k again Think about that we've got longer to Grind at these levels maybe a little Lower maybe a little higher before we Hit 31 or test 31k again while we Remained above the 25k area there was a Possibility of a quicker move over the Coming weeks and months but I think now It's more likely that it's longer the Time is now extended to come back to Test that 31 000 range thanks again guys Check this out this is all over on
Twitter as well if you want to stay up To date with that and my daily posts on Bitcoin the stock markets and everything Else is going on the markets are overall The macro bullish markets are up stock Markets are up we have to have pullbacks We have to have Corrections because That's the way healthy markets move That's the way healthy markets are built One two three four five months to the Upside Expect a few months to the downside Cheers again guys I'll see you at the Next video like subscribe you know the Deal until then peace out