BITCOIN: IF THIS PLAYS OUT IT WILL GET MUCH WORSE!!!

guys I've just woken up to see the market in turmoil again crypto is crashing but why are the overall markets down why did we just lose over a trillion dollars in the US Stock Market what does this mean for crypto what should we be doing now and where might be we going next with that said guys we're going to discuss all of that but please remember nothing in my videos is financial advice and if you do appreciate these up to the minute hour and Day videos of everything that's happening in the market please do me a favor smash the like button right now to help this video get out to more people and also hit the Subscribe and turn on notifications so you know whenever I make a trade or one of these videos now let's jump into it we can see right now bitcoin's price is 56,600 let me just refresh that to make sure that is correct because that's gone up a little bit since I started yes 56,600 so yesterday's video we did speak about uh a couple of different supports and resistance right if we take a look at this chart here we can see in my bare case analogy I did think this was the first uh support that we wanted to hold really around the 56 all the way down to the $55,000 region that's the point of liquidity that we were speaking about where there'll be lots of stop losses lots of liquidations lots of people would capitulate at that point so we have reached that so this could be the pullback that we were watching it could be the lower high that we need from this point here but let's wait to see what happens before we get too carried away with our positions yesterday we did see I mean again exactly what we thought was going to happen with the CME gaps we came up to retest exactly the CME Gap and then we have come down ever since so guys again pay attention to the CME gaps it's it's been a perfect trade for the past two weeks just betting that the price will equalize when the when the week starts again or within the week it's happened every single time apart from one time back here where it took about three weeks but as long as you don't use too much leverage you could still keep the position open and it would have still been a profitable trade after all so very nice trade there if you did manage to get it congratulations but what are we talking about we're talking about the market now and why has this happened why has the market suddenly sold off if we look at the broader markets we can see over $ 1.05 trillion was wiped out from the US Stock Market just today guys just today but one of the biggest players here is of course Nvidia people have been talking about this for a long time Nvidia has been carrying the stock market essentially carrying the S&P 500 and today it is down 10% in fact they have lost $280 billion in market value $280 billion guys this $1 trillion sounds like a lot if we compare it to the cryptocurrency market which is of course what sitting right now at a 1.89 trillion 50% of the cryptocurrency market has been wiped out or the value of the cryptocurrency market has been wiped out in the stock market which is absolutely wild but it actually isn't that much in the stock market right it's only like one and a half 2% in the day which is big for the stock market but it isn't what we're used to over here in crypto now what is going on why are these uh stocks crashing why is NVIDIA crashing well we have news here that the doj has officially sent Nvidia a subpoena regarding its its antitrust investigation the stock was down 9% on the day and Bloomberg decided to drop this bombshell story today 24 minutes after market so the stock was already down which means insiders clearly knew that this was coming obviously there's been insid of trading here and then the news came after the stock market was closed so retail investors can't do anything they just have to wait and sit and see what's going to happen so that's what's happening with Nvidia that's what's pulling the market down of course we also have fears of recession and all of that and then this is carrying over to uh this the cryptocurrency market so sticking here for now we are 15 days away right now from the Fed rate cut now this is probably going to be a 50 basis point rate cut the reason why I say that is because of what's happening right now the market is getting worse this is what we need for higher rate Cuts right using that same time frame let's overlay the following pass rate cut Cycles 1981 1990 2000 and 2007 and guys there is another big reason for the stock market pullback that is affecting us so just wait a second for that while I get there now these four cutting Cycles match the same data that we're seeing currently unemployment rate curving up the sentiment from the ball is that the rate cuts are suitable for the market this is true in the long run however history shows us the market pumps on average for 25 days after the rate Cuts followed by an average of a 13mon sell-off so what we've been talking about guys of kicking the can down the road the FED kicking the can down the road the market kicking the can down the road might be starting very soon as the rates get cut we get an initial pump in the overall market and then it's a downturn from there guys so it could could be a little bit of a problem after initial pump now I think that initial pump will send the cryptocurrency markets if it happens into Euphoria I think that that's what will happen but I want you guys to remember that probably shortly after that maybe it's 15 days maybe it's a year I don't know exactly but there will be a big crash that comes so I'll be trying to take profits as much as I can now one thing to come over this after the last 4% Trump has grown to 51% on the poly markets to win so now a 4% lead in front of Harris we also had the second largest outflows ever right 2,812 Bitcoin sell s uh being sold by Fidelity of course this is all happening while the FBI warns that North Korea hackers are attempting to steal Bitcoin and crypto funds from the ETFs now I think this is just fud you would be pretty sure that black rock and whoever else the way they hold their Bitcoin isn't going to be hackable but let's wait to see I would say this is pretty much fud but again this is what affects the market this is especially now what will affect the etf's market and of course that will create sell-offs and that will create sellos in uh the underlying asset which is Bitcoin because remember at the end of the day people use their phones to buy the ETFs Boomers use their phones to buy the ETFs they're going to be scared by the FBI going after North Korea sorry the North Korean hackers coming after the Bitcoin it's just this is the F this is how the market works and we have turmoil in the world right now so there is SC things happening now of course we can benefit from this you can long or short the market if you want to if you had to managed to catch a short up here you can see actually I have a long position right now that's in the red this is part of the game that we're playing but I'm waiting to see if we bounce up from our support here and you could see that this could be a great place if we do get this lower support of our wedge again to jump into a trade you can see every time we've hit this resistance 1 2 three uh one fake out four five six times it was the perfect opportunity for a short and every time we've hit the bottom 1 2 3 4 5 6 and now potentially seven it's been the perfect time for a long so this could be a great opportunity if you are trading salana over on MX you can use salana as collateral to trade salana same can be said for Casper and that's basically the only Exchange in the world that you can trade Casper you using Casper as collateral so you can generate more salana more Casper more Bitcoin depending on how you want to trade and if you use the link down there in my description you can get up to a $10,000 deposit bonus right now and you can use this exchange from anywhere in the world as you can see from my background I'm changing locations all the time and I never have any issue actually accessing Marx right now so again the links are down there and let's move on to the more pressing issue there's something that a lot of people aren't talking about and I know this has been a very stock heavy or economic heavy video but we need to look at the macro of what's going on to understand some things now the bank of Japan Governor ueda reiterates that the boj will hike rates if Outlook is realized so it's looking like they're going to hike rate uh hike rates and there is a problem here there's something called the Yen carry trade now this is something that's quite in depth and I've actually made a full video that I'm about to post on the channel I'll probably post it maybe a little later today or tomorrow so do smash the Subscribe button if you want to see me jump into this but I'm going to be explaining what is happening but basically many Traders were borrowing Japanese Yen at low interest rates converting them to USD and used them to buy US Stocks now as the problem with Japan continues there is no longer low interest R and that means that there will be unwinding of the US Stocks but let's jump into what that means a little bit more now I came across an article written by Arthur Hayes who is the CEO of bitmex recently we had Pal's speech where he hinted at rate cuts and a pivot coming soon recent pivot by the Federal Reserve and the bank of England and the European Central Bank towards cutting interest rates mean according to Arthur Hayes that these rate cuts are like sugar highs he relied on during his skiing ADV Ventures quick boosts that get the market excited right after the fed's announcement which we saw stocks gold and even Bitcoin rise the idea is simple when money is cheaper assets priced in that money should go up but there is a catch that you need to be aware of the Yen carry trade this is where things get a little bit tricky the Yen carry trade involves borrowing Yen at low interest rates and investing in higher yielding assets elsewhere if the fed and other central banks can't raise the interest rate differential between the Yen and these currencies narrow meaning the yen is stronger a strong Yen could trigger a massive unwind of these trades leading to a destabilization market reaction that could Wipe Out the initial gains from the rate Cuts now let's dig a little bit deeper into the implications of strengthening the Yen as the Yen strengthens those who have borrowed in yen to invest elsewhere might rush to unwind their positions leading to a Cascade of selling in global markets Hayes is arguing that this scenario could force the FED to go beyond just cutting rates they might have to expand their balance sheet essentially printing more money to stabilize the market the long-term solution needed to counteract the immediate risks of the posed stronger Yen so now you understand that a little bit more remember I'm going to make a full in-depth video about this on the channel so smash on so hit the Subscribe button and turn on the notifications so you can be allerted when that comes comes but guys we do have one thing that is very crypto specific here and that is of course the liquidations now this is starting to flip guys this is what I want to see personally I'm not telling you that this is the end of the crash I don't know but I need to look at the data that I like to look at to make me feel more comfortable in this market now on the 30 days this is the Bitcoin exchange liquidation map we are starting to flip since yesterday we've had $2.5 billion of uh liquidations come in on the short side we now have 8 . 5 billion over here on the short side and about 3.6 billion so remember when we were up here sorry this is the wrong chart have I got it no remember we were up here right right here when we looked at this when we looked at this chart this was all the way the other way around right so the long positions were all the way here and there was basically no short positions then when we looked at the chart again and we were down here the exact opposite was true we had a similar chart to what we're seeing now there's a lot of shorts and almost no long so we're getting there the market has flipped we are very equal up until this crash that we're in right now and this is what I like to see the reason again that I like to see this is because the overall Market the overall retail Market is normally wrong so if a lot of people are shorting the market they're probably doing it at support if a lot of people are longing the market they're probably doing it at resistance this is the wrong way to trade we want to be going uh we want to get into our trades before the market flips that's how I like to trade anyway of course you guys have to follow your own instincts in this market I'm not telling you what to do but if you do want some like-minded people to come and chat to especially when the market is in turmoil like it is now we have the patreon links in the description you can chat to loads of like-minded people we have live weekly live chats coming right now in this uh patreon we also have my trades when I make them uh if I get into something early my leverage all of that and then we have a team of Traders here providing opportunities in the market depending on what you like now they like to go short a lot more than I do and I think it's a great uh balance between the way I look at the market and the way they look at the market so if you want a well-rounded group there is a link to my patreon in the description and guys stay safe out there zoom out chill out and hopefully we do move on to the next leg of the Bull Run soon with that said I'll see you guys in the next one peace e