What the drop in bitcoin and ethereum really means. Bitcoin and ethereum dropped this month to near the lows of June. Fears are rising of a potential bitcoin crash. But how likely is this? What are the key levels for bitcoin and ethereum and what is the more likely long-term outlook for both cryptos? We look at the charts and explain. #Bitcoin #ethereum #AlessioRastani
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I knew your video would be out very soon after the big dip. Thank you for providing clarity Alessio 👍🏻
BTC is going to 10,000. Your welcome.
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I predict that if you make enough predictions, then you can always go back and say you predicted something would likely happen. Then, just shill for masterworks and get some passive income for you, and illiquid investments for your viewers. Lol
I alessio tnx for your always great content…. Have u thought about the possible influence of the spy ongoing correction and the influence on Btc given the fact is very close to the trend line and broke the 200 Weekly ma
You should analyze also the moving averages. You generally use them, so why not this time?
On bybit it did hit that trendline, 23596. , ethereum 1490.
Wow, when you draw that really long trendline, it shows how relatively weak BTC's bounces have been since it formed that line with the bottom around October. It appears more likely for BTC to break that trendline as price seems to be hovering just above that trendline now, rather than bouncing up strongly away from it.
TA is looking at the trees instead of the forest. Lots of other variables need to be considered: high interest rates today then low GDP in the future; M2 money supply currently shrinking; …
Thanks Alessio. I find your View a bit more reliable than most. I like the Pizzinos too. I find my niche is BTC/ETH arbitrage.
Is it Autumn already😊 not quite. But hey.
BTC likes to drop just prior to the halving run up. We might be seeing this starting to play out now.
Follow Alessio mainly for his great quality videos. The top-notch TA i trust the most!
You can draw a trendline back from macro low at the end of 2018.connecting two more recent (March 2020.and the latest) macro lows (close prices). I am watching that one on btc/usd 1W log.chart. Above (now 21.5k $), I am bullish long term. Simple, too. Cheers
🎯 Key Takeaways for quick navigation:
Bitcoin and Ethereum recently experienced significant downward moves.
Bitcoin dropped below $27k, and Ethereum maintained an uptrend despite a sharp decline.
Bitcoin's long-term bullish perspective relies on staying above a trend line around $23k.
Ethereum's support levels are crucial at around $1500 and the March low of $1370.
A potential corrective ABC pattern is forming in Ethereum, which could indicate a bounce.
Ethereum's behavior might provide insights into Bitcoin's movement, though not always.
A scenario of major crash/reversal below $15k is presented by some, but not the speaker's view.
Confirmation above $1800 in Ethereum could signal the end of the correction.
The speaker expects a strong bounce or bottoming formation in both Bitcoin and Ethereum, provided key support levels hold.
Further analysis is available in the members' video, including discussions on Elliott Wave perspective, stock market, gold, and silver.
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Hi Alessio! How do think a fed pivot in 2024 would effect your bullish projection on Bitcoin? Isn't it probable that a pivot would see new lows in the stock market and then signal a bull run from that point? Thank you for all of your wonderful and thoughtful content!
It would be nice to see it again in 15k
Always happy to hear your TA Alessio! Thanks!
I think the main pattern is the head and shoulder pattern. Having just fallen off that right shoulder.
Excellent content!! Always appreciate you
Ignoring that head shoulders on ETH?
This is a great video I really appreciate the dedication in each video you post, I learn a lot watching your videos and it has always been helpful to me. Building a steady income is quite difficult for newbies.. Thanks to Mrs. Margaret Thatcher for improving my portfolio. keep up with the good videos.
Hopefully the whole crypto market will crash soon.😅😅😅😅😅😅
Thanks Alessio for your great insights. I have a different question. If we look back from 2015 everytime bitcoin fell below the 20 week estimate in the pre halving year it really struggled to continue the bullish trend, followed by a recession. What do you think about that?
Bitcoin bounced off a 78 number on CB
Any updates on silver my friend? I'm still in my long position. 😢
Always agree with you, even if you are wrong
Expand further this BTC TRENT Line on Monthly chart. It will touch 2015 chart too!
No one talks about the Bollinger Bands set to various Standard Deviations including 3 and 1.5 on the 6 month chart, along with qn EMA20. Can you take a look at it and see if your opinion matches mine? Also, you can use it on the 3 month chart where you will also see a death cross forming.
Use these settings on other markets and see what happens to their price when an MA20 appears for the 1st time on the 6 month chart.
I think that you will be surprised. I cannot get anyone to listen to me, I've been warning people of a declining pattern and the rejection at SD1.5 on the 6 month chart.
I feel like people miss how Bollinger Bands add so much more predictability than mainstream narratives.
Another thing that no one mentions is that the Covid crash was also the ETF crash in March 2020. Google with a custom timeframe and read the articles.
Thanks for a great analysis. I cannot fault your logic with the marketstructure. Bollinger Bands and Volume Profile are two things that I think add a downward weight. I will point out that I shorted SPX500 at the top, the likely reversal point I saw can be found with BB2000 SD3 on the weekly chart (48.3 years). I think Michael Burry probably saw the same thing even if on a timeframe.
I hope that is of interest and adds extra context. Please check out the settings and look back at early days for many markets. Some that I have checked out are Netflix, Tesla, Apple, Dow Jones, Microsoft and many more. It should also help inform you on other early stage assets.