what’s going on guys Patrick here
bringing you a brand new video today we
got another killer video for you guys
pull of information where we talking
about what point bitcoin is going to
bottom at what are the difference
resistance and support we’re gonna be
looking at some technical analysis but
guys for get started with that if you
guys want to enter a chance to win some
free Bitcoin all you guys have to do is
number one please subscribe to the
channel and have you notifications turn
on number two give the video a thumbs up
and number three leave a comment down
below saying something related to the
video you guys leave as many comments as
you’d like I’ll do my very best to
answer every single one but Before we
jump into talking about bitcoins price
and which points going to be the lowest
let’s go over some news because we I do
want to keep you guys up to date with
everything that’s going on so the first
thing is one of the reasons we saw a
sell-off and this was crypto panic
because of India’s a banks they are
about to stop dealing with
cryptocurrency related companies so this
was actually announced by Zeb pay one of
India’s largest exchanges I think it’s
it is India’s largest exchange they
announced that in accordance with
Reserve Bank of India directive issued
on April 5th banks are about to stop
dealing with virtual currencies and
terminate the accounts of the crypto
related companies this will cut off the
exchanges from banking services panic
caused a flash crash on Indian
cryptocurrency trading platforms that
triggered massive sell-off obviously
something when it affects one country as
big as India actually well with the
amount of cryptocurrency that there is
there with the amount of rip to currency
trading that actually goes on there that
will affect the rest of the market this
was just sort of spreading more FUD a
reason for people to sell obviously
asses every time now the reason the
market was down was because people sold
that’s 100% the reason why the markets
are down but what is the reason that
people are selling this uncertainty was
not helpful is this going to be a big
issue in the long run I think we’re
gonna see more of this I think we’re
gonna see more more banks fighting
against cryptocurrency seeing where it’s
actually headed and seeing the
competition that it is providing to
banks I don’t think banks are happy to
hear that we are trying to take away
their power and move it into virtual
currency I don’t think that’s something
they’re excited to hear about I don’t
think it’s something they want to hear
about but I do think it’s something that
is going to continue to happen so as
much as they want to fight it I think it
would make more sense to learn how to
integrate it too
learn more about it instead of fighting
it just learn more about it that way
everyone can benefit more in the long
run but of course nobody’s gonna just
roll over and accept defeat there’s
going to be a bit of a push back and
this I believe is not something that’s
not gonna be the last time we see some
fun so bear that in mind guys there’s
always gonna be fun in every market even
happens with the stock market now
there’s still fun all the time but the
fundamental thing is if the fundamental
technology the technology does not
change there is no reason for and it’s
not gonna go away it’s like saying the
Internet’s gonna be destroyed now guys
think about this there are scans all the
time on the internet obviously
cryptocurrency scams exist all the time
but guess where those cryptocurrency
scams are committed most of the time
usually on Twitter a social media
platform is Twitter going away simply
because of this issue no Twitter is here
to stay for the most part Twitter
doesn’t look like it’s going anywhere
and the same thing with the internet
there are bad things going on in the
internet all the time there’s the black
market on the Internet
have no idea how it works haven’t been
on the black market but there is a black
market on the Internet and that doesn’t
stop the internet from existing so the
fact that yes cryptocurrencies have been
used or are being used as well for some
negative things that’s not going to be
what ends cryptocurrency so the
technology is there it’s going to be
here to stay put it in perspective with
everything else in the world there’s
always pros and cons to everything
there’s always good uses and bad uses to
everything this is just cryptocurrency
is just another one of those things that
people are trying to bring down by
talking about the negative aspects next
piece of news I have for you guys is mal
so good news mal cops looks like they’re
going to stop selling off this article
actually goes into talking about how
they started selling in q4 last year and
coincidentally every time they sold
bitcoins price would tumble and that is
because they had a lot of cryptocurrency
they had a lot of Bitcoin they were
selling a lot of Bitcoin at one time and
if you guys look at the candles you
would see one very big red candle pretty
much indicating them selling which then
would cause fear in the market at Roma
be like oh what’s this red candle they
would sell to the market would continue
to fall and this happen
a few times over and over again but it’s
it appears like that is going to stop
happening so due to bankruptcy
proceedings now being halted as part of
these as part of the civil
rehabilitation Kobayashi will not sell
any further bitcoins he is the man
responsible for signed a Bitcoin before
on several different exchanges he will
not sell any further bitcoins with users
set to receive compensation in Bitcoin
instead of fiat currency as originally
intended one thing I have to ask why
didn’t we do this from the start I feel
like if mal Cox was a crypto currency
exchange and people were buying Bitcoin
on mal Cox and so they were investing in
cryptocurrency obviously some were
selling as well but why and you have
Bitcoin left over why wouldn’t you give
it back in Bitcoin why not and then the
people can make the decision if they
want to sell or not or if they want to
keep it why would we sell it I feel like
that just doesn’t make a lot of sense if
there’s a better reason for this and I’m
just completely missing out on leave it
in the comments guys I would love to
know what you guys think but I feel like
they should have just given them giving
people their Bitcoin back or given back
the addition of compensated people in
whatever they had which is Bitcoin
instead of trying to mass sell and cause
a lot of problems in the market which
they knew was gonna happen I don’t
believe that they were surprised when
this happened when they sold that much
and there was a huge red candlestick and
then people started half here I don’t
believe they sat there like wow we sold
and there was a big red candlestick that
doesn’t sound right don’t think that
happens so I’m very confused as to why
they didn’t do this for the start but oh
well at least now we shouldn’t be seeing
any more sell offs from from algaas
which is a very good thing I know a lot
of us are very happy about that next up
we have Neumann some news about V chain
so I didn’t want to come into too much
news about specific crypto currencies
but I know a lot of you guys do like B
chain so I didn’t want to talk about it
getting ready to log to launch its bit
of this V chain Thor blockchain so V
chain Thor blockchain announced is
increasing in attraction and over the
last two weeks the chain foundation has
announced a collaboration with a
world-renowned universe
city in London Oxford University and
sure you guys have heard about it one of
the top schools in the UK so it will
assist in detect in the technical
development of the V chain Thor platform
the foundation also announced a
partnership with global giant in the
automobile industry BMW so tons of
partnerships going on for V chain tons
of good news surrounding V chain Thor
actually I’m very excited for the B
chain Thor blockchain thing this could
be very very cool and I’ve seen a lot
more hype grow around it and I think
that’s only going to continue now look
at the overall market guys one last
thing before we go look at the Bitcoin
technical analysis let’s take a look at
the overall market first so if I give
this a refresh we are at at 254 we
actually just lost 2 billion there so
254 billion dollar market cap with 41.1%
Bitcoin dominance take a look at this
guy’s looks absolutely terrible that was
the massive sell-off due to a lot of fun
going on nothing fundamentally changed
I’m gonna keep emphasizing that nothing
fundamentally changed so this huge thing
was simply because of fear it was fear
uncertainty and doubt that is what
caused the crash now I’m gonna say it
again this provides a perfect
opportunity for everyone looking to buy
more Bitcoin or cryptocurrency to pick
up cryptocurrency at a very cheap price
and to continue to dollar cost average
on the way down if it does continue to
fall we’re gonna be talking about the
resistance supports in just a little bit
now obviously I’m gonna emphasize this
as well is don’t invest more than you
are willing to lose so if you’re maxed
out if you’ve invested everything you
could invest into cryptocurrency then
guess what now is the time you don’t
have anything to worry about
it’s you’ve invested everything you have
to invest now all you have to do is wait
keep me obviously keep yourself informed
with all the news that’s going on so
make sure you guys do have the bell icon
so you guys get notifications every time
I post video so you guys can keep up to
date with all the cryptocurrency news
but guys now if you don’t have any more
money to invest then that’s it you know
just relax now go do something else
enjoy your time by the pool wherever you
are and just wait for the market to
recover but if you do have money still
to invest pick a point out or find the
projects that you are most interested in
and then start investing in those and I
talk about a ton of them on the channel
the ones that I’m interested in now
obviously I’m not a fine
by this I’m not telling you what to
invest in but do your own research
figure out which ones you like and on
the way down
let’s keep buying in 24 hour change we
see actually Doka demmick up 14% I know
there’s a lot of hype around this
cryptocurrency I know very little about
it don’t know too much about it but I do
know that it was kind of hyped up so I
am staying away I’m not gonna get
involved with a dragon chain one I do
life though in basic attention token
another one I like then obviously we
have smaller movers like Manero – risk
polymath those polymath up no apply
Matt’s actually down but yeah all those
crypto currencies doing fairly well but
as we can tell there is a lot more red
in the market than there is green so
down 37% guys I told you yesterday game
look like a massive pump and dump just
by looking at the chart here not even
opening up a more technical chart just
from the chart here you can tell that
was a pump and dump and so it is coming
straight back down zilla’s down ontology
is down to ontology is down to four
dollars and ninety four cents I was
taking a huge sell-off as well some
great opportunities though to pick up
these if you guys are still interested
in them now moving on back sheet look at
that though it does look like we have
found a little bit of support which
we’re gonna talk about right now when we
look at the technical analysis so as you
guys can tell I drew a few more
triangles of zoom in here let’s go I
drew the descending triangle that we are
in right now now keep in mind the
descending triangle is a bearish pattern
this is not a bullish pattern it’s a
bearish pattern but it is one that we
have seen before so what happened was we
saw this back when bitcoins price was
around $400 we saw there was a
descending triangle we managed to break
up above that though so past previous
trends have shown that usually we do
break up above the distilling of above
the descending triangle which is what
I’m hoping is going to happen obviously
we don’t know for sure one of the key
one of the key supports we are at right
now though is and this this descending
triangle some people have had up for a
very long time and this support at the
six thousand dollar mark is a huge one
because breaking below that does mean
that we might see a five thousand or
even a four thousand dollar Bitcoin now
does that mean the end for
quit no like I mentioned before the
comparison with the internet bitcoins
not going anywhere it’s a protocol it’s
here to stay it’s you can’t wipe it off
the face of the earth it’s just not how
it works
now like I said it could keep falling
down we could see a five thousand or a
four thousand dollar Bitcoin I actually
found an article where someone said it
may fall to two thousand five hundred
but I will keep in mind when you guys
hear an article like this make sure you
do read it over make sure you do see the
wording since he said obviously Bitcoin
may fall to two thousand five hundred he
didn’t say Bitcoin will fall or Bick or
he thinks Bitcoin will fall he said it
may fall and if you guys do read the
article he said oh it can go down to
four thousand five hundred could be the
bottom but nothing’s preventing it from
going to two thousand five hundred
that’s true nothing is preventing it it
may go to two thousand five hundred it
may go to two thousand it may go to one
dollar right but it also may go to a
hundred thousand very easy to split the
word may in a sentence and make
headlines so I’m not gonna go around
doing that just by looking at the
support though about time you guys watch
this video we might have broken up or
down but I wouldn’t be betting too much
right now on I wouldn’t personally be
shorting Bitcoin right now simply
because we are at the support right now
of the six thousand which is shown
previously to be a very very strong
support I think once we hit 6,000 if we
do hit 6,000 even just a little below I
think we’re gonna see a lot of buy
orders fill a lot of people set orders
at 6,000 obviously I know a lot of
people set or is that five thousand at
four thousand as well they already have
that preset I know several people doing
this so that when it hits that point
they’re gonna keep accumulating keep
dollar cost averaging picking up growing
their portfolio and waiting for the
reversal that’s how a lot of people are
handling this but I wouldn’t be looking
at shorting Bitcoin right now and I
wouldn’t be so confident when I say I
think this is going to fall down pass
this cuz like I said this is a strong
support now will may it fall down yes
we’re gonna use the word make it may
fall down and it may fall down to 5,000
and it may fall down to 4,000 like I
said not gonna put too much money on it
what looks more likely if we want to
keep in this descending triangle would
be us go back up and go up to the $8,000
the 8500 would be a possibility
depending on how
we go up obviously you guys see the huge
red candlestick we saw yesterday sucked
but always full of opportunity but guys
hopefully you guys did enjoy this video
if you did don’t forget to leave a
thumbs up and leave a comment down below
to enter a chance to win some free
Bitcoin also make sure you guys are
subscribed and you have the bell icon
you can you click the bell icon to turn
on notifications because YouTube it’s
been very weird when it comes to
actually delivering my video in front of
you guys so make sure you do have the
notifications on so you guys are
notified every time I release a new
video guys thank you so much for
watching I’ll see you guys tomorrow for
another video


Add a Comment

Your email address will not be published. Required fields are marked *