Bitcoin: Bull Market Support Band

Hey everyone and thanks for jumping back Into the cryptoverse today we're going To talk about Bitcoin and we're going to Be providing an update to the bull Market support band if you guys like the Content make sure you subscribe to the Channel give the video a thumbs up and Also check out the sale on into the Cryptivorous premium at into the well I did at least Think it would be useful to provide an Update this week especially to the bull Market support band because we have a Correction now where we saw Bitcoin drop Over 10 percent in one week To below both the 20-week SMA and the 21 Week EMA Now there is some significance to this Because this is the first weekly close Below both the 20 we got Samantha 21 With EMA since January since early January and those candles were green so This is actually the first red candle That is closed below the bull market Support band for the entire year Now if we go back to our general thesis For this year we have to remember what That thesis is and it is that Bitcoin Will likely spend half the year going up And half the year going down and the Reason for that is well I mean there's a Lot of different reasons for it we can Talk about maybe like what we paint the Narrative tours we can talk about you

Know some technical reasons right I would say the more the narrative that I like to run with is that there's so Many scams and and meme coins that flood Into the market in the first half of the Pre-halving year just like in 2019 and What the issue is that Bitcoin needs to Come back down and flush all of these Out so that it cleanses the market Before the having year okay that's the Purpose of the flush and so that when Bitcoin goes on a bull run in in say Like later on part of the having year in The post having year Then a lot of those meme coins and scams Have been cleaned out that's not to say That they you know that some some Version of them won't return they'll Probably be new ones that launch and and Maybe some of the prior ones will go Back up but I believe that is at least Part of the purpose of the correction is To sort of flush these out because a lot Of those meme coins that people were Talking about just a few months ago are Now just you know constantly bleeding Against Bitcoin they're putting in new Lows in the USD Pairs and most of them Will never see new highs again that's The truth okay Now if we roll back the clock when we First started you know started this Month and I think a lot in July we said Look guys Bitcoin has always

Gone below his 20-week SMA and 21 with EMA in August or September of its Prehabbing year right Let's look at the let's look at the Chart I mean don't take my word for it Let's double check okay because don't Trust verify hey we don't trust we Verify And so what I'm going to do is I'm just Going to go Um I'm gonna go oh it's over here I'm Gonna go grab this Arrow tool and we're Gonna say look in August of 2011 the Prehabbing year And then in 2015 What happened it occurred in August We went below it And in this case we ended up going all The way down to a double pot double Bottom this was a 50 correction almost From the high Right This is a 50 almost a 50 correction and It put us at a double bottom and that Double bottom came the week of August 17th And then last cycle it occurred in September we saw a weekly close below The 20 week estimate and the 21 week EMA And so going into this month we said Look guys you know there's a lot of People calling for new highs this year There's a lot of people saying that you Know it's up only but if history is any

Indication There is a good chance we get a weekly Close below the 20 week estimate and the 21 week EMA now there is this idea of Course that the narrative behind the Whole meme coin flies just completely Irrelevant and I can actually respect Someone who maybe would say that because There's no guarantee that that has to be The reason one of the more likely Culprits behind it has nothing to do With crypto The correction could be primarily due to Risk off conditions In traditional markets right go look at The s p 500. what do you notice about The S P 500 here It's down almost five percent in August What do you think it was doing in 2019 In August and September right so let's Go back and look at August in 20 uh 2019. it went down It closed the month above the 20-week SMA right but the correction right the Correction that it initially got you can See the wick on here right so from Monthly open it went all the way down to This Wick it was a five percent Correction And then you look at 2015 In August the s p went down six percent And then in September it went down two Percent And then in 2011 we can see the same

Thing In August the s p dropped almost six Percent in September it dropped seven Percent so rather than go on it's been Too much time about flushing out the Meme coins because you could easily pick That argument apart if you wanted to Just look at the overall market Conditions and say all right We know that crypto is a risk ass out no Matter what people says right it's a Risk asset it doesn't mean that Bitcoin Can't eventually turn into something Else which it probably will eventually Or at least we hope it does but but then You have to ask yourself do we really Hope it does I mean risk assets do tend To outperform you know risk on assets do Tend to outperform risk off assets over The Long Haul because we're just you Know there's normally there's money Printing right so it's almost a better Thing for it to be a risk asset but When we're looking at this chart We say well If the s p which is likely going to be Considered by most people to be less Risky than than crypto if it's pulling Back five to ten percent in August or September of the pre-election year then That can be what causes Bitcoin to go Below its bull market support ban in Q3 August or September of the pre having Year

And once again We have This cycle Is not different not at least based on This the cycle is not different in fact It's playing out In a very eerie Similar fashion What do I mean by that well if you think About what Bitcoin accomplished in 2019 It went up about 4X or so what I find Interesting is that the weekly Capitulation below the 20-week SMA back Over here was a 20 drop Right so you went up 4X and you had a 20 Drop which is what kick-started well I Wouldn't say it kickstarted the Downtrend the downtrend really started In June but once we got below the 20 we Got samay that was more or less All She Wrote right for a while I mean we we did Pop back up here and retest it and and We even rallied above it and then we Fell into a recession so something like That could play out again right but this Was a 20 drop After a 4X move more or less this one Was a 10 drop after a 2X move so it is Really interesting how you know Through The Ages There's a lot of similarities right and Mathematically you can look at at a lot Of the similarities right how over here It rallied up Forex and the capitulation

Below the 20 week is 10 and then over Here or 20 of it over here it went up 2X And how the capitulation below it was 10 Was 10 percent The other thing that I find interesting Is that a lot of people have given me a Hard time this year for saying that in The pre having year Bitcoin goes Sideways right A lot of people are Giving me a hard time about that and I Can kind of understand the reasoning for That right because Bitcoin has gone up About a hundred percent this year right 100 about a hundred percent which is Reasonable right I mean you know in what Market do you call a hundred percent Rally sideways In this market in this market if the Bull runs are 2 000 percent then you Would have to consider 100 rallies and Fifty percent drops sideways because if You don't consider that sideways then There's basically nowhere on the chart That is sideways If you still don't believe me I imagine Many people here would look at 2015 and Call it sideways would you not if you Had to pick out a period in this chart Here and say what was the area in the Chart what was the area in this chart That looks the most sideways would it Not be this range right here right That's the sideways range because this Is down and then this is up

Okay this is the sideways range but if You would agree that that is the Sideways range then would you not find It interesting that from the low to this High Bitcoin rallied about 90 percent So if you're going to call 2015 sideways When Bitcoin rallied 90 how can we not Call 2023 sideways with Bitcoin rallying About a hundred percent It's more or less the same thing I mean There's not a huge difference there it's More or less the same thing The reason that when you look at 2015 And we call it sideways and it makes Sense is because you see what eventually Came after it after we got a double Bottom but when you were living through It Right many people here did not live Through 2015. when you were living Through it if you down here said all Right bitcoin's gonna go sideways for This year And then you watch the price rally up 90 Almost 2X Do you think people would have said that That was sideways no they would have Called you they would have said you were Wrong right how do you call it sideways It's up 100 almost And then it dropped back down and then It went up again and then it dropped Back down 50 and that 50 drop put in a Double bottom

A 50 drop from these highs Would basically put in A double bottom right I mean basically a 49 50 drop that would put in a double Bottom So when we look at these charts If you're gonna say it's not sideways Then maybe we need to redefine what Sideways is when when you have a when You have an asset class that can climb Thousands of percent you know in a bull Market then we have to understand that a Period of 2x rallies and 50 drops should Be considered sideways it's like when You look at like the monthly uh the Monthly returns for Bitcoin and you look At prior pre having years right 2019. Five the first six months were green Five of the last six months for red 2011 five of the first six months were Green five of the last six months for Red 2015. for the first six months were Red five of the last six months were Green so in basically all cases right I Mean in two of the K two of the prior Prehabbing years it was six green and Six red and then in one it was seven Green and five red But in all prior pre-halving years We spent about half the year going up And half the year going down and just Like 2019 just like it We have all the narratives coming out About how this will be the time that is

Different and how the peak's going to be Shifted and how we're going to go to new Highs in 2023 Um and how we're going to hold here and And everything's going to be fine and How you know this time is different And yet here we are After all the narratives They get thrown out the window typically In the second half of the prehabbing Year You find yourself Getting a weekly close below the bull Market support ban now with that said we Need to be open-minded At least to the path of what comes next Because unfortunately you might want me To tell you exactly what that path is Going to be but with a good conscience I Cannot do that and the reason is because Well if we take the context of History You can find two very different outcomes As to how the secondary scare ultimately Ended Last cycle it was a very slow and Painful process I would prefer to not Repeat that process Right what would you prefer if you knew That the secondary scare had to continue And you said all right well would you Prefer it happens over the next two Weeks or the next six months you Probably say all right even the Bulls Right would say all right well let's

Just rip the Bandit off get it over with And then we can move higher right that Would be probably what most people would Say even if they're bullish right if you Say well there has to be this moment Where we still you know we still wreck The Bulls would you rather it be drawn Out over six months or two weeks you'd Probably say two weeks last cycle it was Pretty painful Because This move last cycle from this high to This low Lasted 37 weeks Right it's about nine months about nine Months of a downtrend before we really Got moving again and we didn't get Really moving again until QE came back In and it's in all its Force Okay and we're probably at least Six months away from from that at least So there is at least some precedent pre There's at least some reason to think That it could be a more long and drawn Out process rather than an immediate Event and based on last cycle what you Could see Is to hang around these levels for a Little bit and then go back up and back Test the bull market support band just To draw that money back in right only to Get rejected and then come back down Rally above it I remember in 2020 when We rallied above it because there were a

Lot of people talking about the hash Ribbons and whatnot and how is the birth Of the bull market and then a few weeks Later We rallied up into a recession you can Call it a Black Swan you can call it What you want we had an inverted yield Curve and it ended in a recession it Doesn't tell you what's coming but it Tells you the economy is sick and all It's going to do all it takes is just One more thing to to to to really hit The economy pretty hard okay and we can Get into the nuances of a lot of this Stuff uh maybe in another video but That's what happened it was a long and Drawn out process that lasted Approximately nine months if we were to Repeat 2019 which I hope we don't but if We did 37 weeks would put you out in April okay so I believe I said that this Was 37 weeks Maybe not 37 no 20s I think I uh I think I um Maybe got this one slightly wrong here So it was 24 weeks 37 weeks from the High right so 37 weeks from the high That's what it was so 37 weeks from the High 24 weeks from where it dropped below so 20 37 weeks from this high would put you Out in In late March 24 weeks from where you Break below would be a little bit better

Right it would only put you out in in January okay so that would be the more Painful process a slow and systematic Bleed with occasional pumps back up to The 20 week just to get people excited Okay that's one process that we could go Through but what's another one and this Is the reason why we cannot go into this Thinking we know what has to happen Because if you go into it and say well Without a doubt it's going to repeat What it did in 2019 and back test it What happens if it doesn't right what Happens if it does a 2015. in 2015 we Basically just saw an immediate Capitulation down to a double bottom Okay And the benefit of that scenario was That it just wiped everyone out Like that as opposed to over nine months You might say well how's that a benefit If people get wiped out well if the Argument is that the Bulls have to get Wiped out before you know before the Having would you prefer to just get it Over with or to have it drawn out over The next six to nine months right I mean In that if if you had to pick one of the Two I would prefer the former You know where you just get it over with Right How could that happen well if something Breaks right I mean you know we just Went through the most aggressive fed

Tightening cycle that we've really ever Seen at least in recent history and Because of that there is a chance that The Federal Reserve has gone too far and There is a chance that they will break Something And if they break something it could Lead to cascading liquidations right an Event that you don't know exactly when It's going to occur but when it does Occur you can move down very quickly in 2019 after Bitcoin rallied back above The 20-week SMA Bitcoin at that point Capitulated going into the recession and It dropped over 60 percent In a month A 63 drop in one month right Now I should not have to tell you what That would be like and how difficult it Was back then to navigate that because It was a huge move to the downside we All woke up one morning our entire Portfolios including my own was down Like 60 we're just like what the hell is Going on like I remember pulling in my Portfolio and and loading it and seeing Bitcoin at like 4K when I woke up and I Was like well that can't be right and I Loaded again I was like it's 4K how Could it be a 4K right like we were just At 8K uh how is this possible remember Bitcoin can drop like this at any moment And without you know without notice it Could do this and the reason it could

Happen is if something breaks in the Economy you know if you go back to the To the macro you know to the macro Version we look at at you know yield Curves treasury yield spreads and we Look at the inversion of the three month And the tenure you can see quite clearly That when you're in an inverted yield Curve you often do not have a recession Although the 1980s would like to have a Word about that because in that case we Did have a recession even even when it Was inverted but a lot of time times the Inverted yield curve does not tell you You're in a recession it tells you that One's going to eventually come just like We had an inverted yield curve in 2019 And then a recession eventually came now Had we not had the pandemic it doesn't Mean that we would have avoided a Recession perhaps something else would Have brought it on but the point is is That without fail inverted yield curves Have Come before recessions It's kind of like the same thing with Bitcoin and how every you know every Pre-halving year people want to believe That it's going to go to new highs and Shift the cycle Peak and then it doesn't And it just goes back down and does the Same thing it always does in the same Way we look at treasury yield curves and We have all these people saying why this

Time is different and the reality is is Probably not we're probably going to see The uninversion of the yield curve at Some point and we will probably get a Recession at the end of this business Cycle that is the most likely outcome Based on what we've historically seen And you can see that in recessions the s P doesn't tend to hold up well so if the FED were to break something and if it Were absolutely catastrophic then it Could force them to Pivot far earlier Than most people are anticipating Myself I don't actually think the FED Will start printing again until 2024 is My guess that is my guess I don't think We're going to go back I don't think They're going to Pivot until 2024. But I could be wrong I mean they could Pivot sooner imagine if the market I Mean just imagine a scenario right Imagine you wake up one day uh in let's Say November or something and the s p Sitting at like 3 400 and it's just Dropping Like a Rock they would probably Pivot in that environment okay Let's say it happens in early 2024 They would probably pivot in that Environment so They will likely pivot at some point in The next 12 to 18 months But it's really hard to know exactly When it's going to be Right it's really hard to know that

You know you also should remember that Bonds typically bottom first right Because once the FED pivots and the long Under the yield curve gets completely Repriced uh you know almost immediately And and and that's why bonds tend to Bottom first and then stocks and then Stocks bottom after bonds right Um and then and then real estate later On but Crypto I think could bottom somewhere Between bonds and stocks right somewhere Between bonds and stocks so That's something that we we have to keep In mind and that's not to say that the s P has to be going into some type of Massive capitulation now it might not be Remember in 2019 we had this correction In August and September and and then the Market still rallied in Q4 and then the The recession didn't come until the Early part of the election year so There's a chance that something like That repeats itself right where you you See the s p get this seasonal correction And then still rallying Q4 maybe maybe It doesn't have to be a new high Although it could be and then and then We Face the music sometime in 2024 if The unemployment rate doesn't start to Make its move between now and the end of The year there's a chance that happens But I will remind you in the environment Where the s p goes up in Q4 right like

I'm not saying that it will but if it Does that doesn't necessarily mean Anything for Bitcoin and if you don't Believe me go take a look at this chart Right so let me let me flip this over Here move skill to left Um actually I want to create a new skill Let me let me just delete this really Quick so I want to add Bitcoin USD to a New price scale and you can see here Right like the the s p was going up in Q4 2019 Bitcoin was going down so In the correction by the s p you can see That even if it holds the 20-week SMA Like it did in September of 2019 it Doesn't mean the Bitcoin will And Bitcoin hasn't right I mean it's Already below the 20 week estimate even Though the s p is still above it right So you could get a scenario where the s P balances off the 20-week SMA and and Perhaps it leads to bitcoin back testing The bull market support ban just like When Bitcoin bounced right just like When Bitcoin bounced here off its 20-week custom a what happened to the Altcoin market after Bitcoin balanced The altcoin market back tested its 20-week SMA and I can't tell you how Many people On Twitter keep calling for all season On every single lower high Every single lower high And I know because I've been there and

I've done that and I fell for those Narratives and prior cycles and I Learned my lesson and look at this every Single one of these has been a lower High And every single time people have come Out from everywhere to dunk on people Who have been bearish on all coins but Every one of these moves was a lower High by the altcoin market every single One So when people say you know you know When are you going to turn bullets on All coins well first of all Why don't they put in something besides A lower high for a change I don't think I'll wait for that or at Least I hope I don't but I could see a Scenario where the altcoin market does Something like this right where it it Slowly Fades down maybe gets another Bounce and then we go into the Depression phase of the cycle uh similar To you know all coins capitulating into The into a recession just like we had in Early 2020 and then we come out of that And then we go up the issue is no one Knows how deep this goes it could stop Shallow at 250 billion It could go a lot deeper right I mean For all we know it could capitulate all The way down here it to 200 billion Before going back up Right and if it goes to 200 billion

Before going back up Think about that right like if it were To go all the way down to 200 billion Before going back up just think about How how badly the altcoin market would Get wrecked in that environment so I Can't tell you how low it's going to go But I will say that if Bitcoin does Spend the rest of the year in a Downtrend like it did in 2019 and that's Not good for the altcoin market you know I mean I I I deal with people every day You know fomoing about these all coins And I don't get it you know I mean a lot Of them like Ada it's just it's also Putting in lower highs for the most part You know I mean now people are dunking On me because Ada's at 27 cents I'm like Guys it's barely off the lows you know Dots at four and a half dollars right It's basically at the lows here Avalanche put in a new low recently Right this this candle here this is a New low look at this low this was 990 The prior low was 9.94. going back to The thesis that we said going into the Year that Bitcoin even if Bitcoin Doesn't put in a new low most of the all Coins will and we saw a lot of all coins Put in new lows earlier this year and We're seeing a lot coins put in new lows Even as we speak today and imagine what Happens to those altcoins if Bitcoin Retraces any part of this move if it

Retraces back down to 19 to 20K what do You think happens to alts they probably Put in more significantly new lows what If it retraces to a double bottom what Do you think happens to alts what if It's a lower low right what do you think Happens to us and that's the reason why I've said for the last what 20 months Now all coins are just simply not worth The risk it doesn't mean that no altcoin Is going to go up and I would Congratulate those that have picked all Coins that have seen considerable gains It's just that over the macro scale most Altcoins will likely perform pretty Badly and I got a lot of people talking To me about the Bitcoin dominance I know You guys are are curious about my Thoughts on it But you know I I probably should Reserve Most of my thoughts for a full dedicated Video because once I start talking about The dominance I can't really stop for The next 40 minutes and I don't want to Put you guys through that because this Video is already getting somewhat long But just provide one brief perspective On it take a look at total three minus Usdt divided by Bitcoin look at this Chart okay just look at it for a minute And remember that the altcoin market Tends to Peak At parity with Bitcoin at one right look At this chart over here right it Peaks

At around one that's where it's Peaks The last two cycles that you can see at Least on this chart picks around one And then it bottoms out around 25 Percent Right 25 here at around 25 here here it Went lower to about 18 but this was in Bitcoin's parabolic Bull Run and this is Why there is a reason that some people Would just consider the strategy of Bitcoin only until the parabolic rally You would miss the lows on alts of Course but you wouldn't necessarily miss The lows on all the other Bitcoin pairs Because if if all coins are all the way Down here at like 18 of bitcoin's market Cap during bitcoin's parabolic rally Then from a mathematical perspective Just being Bitcoin heavy through the Bitcoin parabolic rally in the bull run And the having year the post having year Would not be a bad strategy right I mean Just look at the chart right don't take It up with me take it up with the data But when you also look at this chart What do you see You see that it's rallied back up Huh to the bull market support band or In this case the bear Market resistance Ban Where is that at you can see that the Altcoin market right now just taking out Usdt is 48 of bitcoin's market cap the 20-week SMA of this metric is at 48 the

21 week EMA is at 50 so yes a lot of People are dunking on me recently Because the dominance has fallen back Down but I previously said that the Dominance could fall back down and Retest the breakout Point see I'm Getting into the dog I need to I need to Sort of uh pivot back to you to what I'm Trying to stay on topic but even last Cycle you can see that once we hit these Levels we got a bounce back up to around That 50 in this case it went up to about 53 percent and then it rolled back over And went down to 25 percent Right So yes there's also an example here Where it rallied more and it took longer But eventually it went down To 25 percent Look at this Ever since 2021 it's just been lower Highs and lower lows and every single Time the altcoins rally against Bitcoin It draws people back in But be aware that this was the area that We rallied from in 2019 we came up and Then we capitulated Into September into September of 2019. Now there are some nuances to it uh that We could look at that you know that that You could argue there is reason for us To spend more time in this region Bouncing around and again I'll talk About that more in a Bitcoin dominance

Video but I do want people to look at This chart and to say you know what Maybe this time isn't different maybe The altcoin market Just has rallied back up To the 20-week custom and the 21 EMA Just to suck more people in Only for them to get Wrecked again it's happened for two Years now right what's a few more months Of it So just please consider that and again You know if I'm wrong about this and it And it rallies above it then so be it You know so be it I I still have have Saved myself from the headaches of the Altcoin market for the last 20 months And I still think that they will mostly Go put in new lows many of them probably Will okay Remember last cycle the total three did Not even bottom until two months before The having into a recession right so if It does this cycle that might mean it Doesn't bottom until like February of 2024 for all we know you know it could Just Bounce Around in here for a while Going to the depression phase in late 2023 early 2024 everyone sells their all Coins into the recession headline only For QE to return and kick us into Another bull market So Bitcoin has gone below the 20-week SMA

The other thing I'd like to point out is There is Precedent to look at this and say well What if it's a fake out It could be anything's possible Right Normally what you look for is you look For one weekly close And then you try to look for follow Through right if if we just get a candle In the next week or two and we're back Above the 20-week moving average Then you could probably call it a fake Out But if it just plays out exactly like it Is previously done in every prior Pre-halving year there's a good chance That won't happen doesn't mean that it Can't back test the 20-week SMA and for The record Right now the 21 week EMA is at 27 662. The 20 week estimate is at 28 426. so You're essentially looking from 27.6 K To 28.4 K so about a 800 range in there Approximately as to where that bull Market sport band is so yes you could Get a back test of it but unless you're Getting weekly closes back above it then You we likely are in for the Continuation of the secondary scare and That the secondary scare sort of Consists of this idea of we flush Everyone out before the having and it Also is of course likely going to occur Because we're not looking at any QE uh

From the FED at least anytime soon more Than likely the only way that we do get QB from the FED in 2023 I would imagine Is if we get some big capitulation Scenario right if that happens then then You know that means there'd be a Windfall coming for the crypto burst so No matter how you look at it whether It's a slow bleed whether it's a Capitulation uh the secondary scare does Still seem like it's in full swing and If it's a fake out then you would still Need to see weekly closes back above the 20-week SMA within the next week or two Okay the issue of course though is we Are coming up on September and Historically September is is on average Anyways I believe September is the the Worst month for Bitcoin If you go look at monthly Returns the The two months on average that are read Are August and September but on average August is uh not as bad as September Right September tends to be a bit worse On average negative seven percent the Standard deviations of this stuff are Quite high so it's not really Statistically significant to say Well it Has to go down this you know this amount But you can see that there is some Seasonality and legitimately six the Last six septembers have been read maybe Lucky number seven but the last six have Been read and every year we make the

Video on the first day of September Wake Me Up When September Ends and we say all Right guys September's probably gonna Suck and when I say that everyone comes Out and says all right no this time is Going to be different and then it ends Up sucking right so we'll see if this Time is different uh but history shows That September tends to not be that kind To us I mean in 2019 September is pretty Bad it was in 14 drop right was not not Fun at all uh so so do at least keep That in mind that September is coming up It's not seasonally a great time uh for Stocks really either Um and cryptocurrencies and if and if Bitcoin is below the 20 week estimate Going into September then that is is Likely not really the best setup uh for You know for these riskier assets going Into that seasonal time of the year Which does not tend to favor uh risk Assets in general if the if Bitcoin were Above the 20 week going into it then at Least we'd have some hope maybe of Trying to hold it but if we're below it Already then you know there's some Reason to believe that we would just get Rejected on on any retest of it So Um the last thing I want to mention is Just to sort of go through the charts Here right so you can see again that Bitcoin has fallen below this in

Mid-august what is really interesting is If you look at total three In 2019 Total three fell below the bull market Sportban in mid-july mid-july And then Bitcoin Let me just flip this over over here so Let's pull this up um If they can find Total three so In 2019 and in 2019 Total three fell below this in July and Then Bitcoin fell below it in late September so two and a half months two And a half months later This cycle What happened Total three fell below it In early May Right so you take it out early June Early July That's two months Early August three months Three and a half took three and a half This time because again the all coin Market fell Below in in early uh early To mid-may took three and a half months But again it shows you I said what did I Say back in April right total three is Showing that the market is weak just Like it did in 2019 right just like Total three showed the market was weak Back over here the market was weak over Here it showed you what was going to Come for ethereum and then Bitcoin and

How did it not do the same exact thing Right total three dropped below it in July ethereum then dropped below it uh Back over here in um In in Late July and then Bitcoin dropped Below it in in September and then what Happened today again the same the Basically the same order of things right Total three drop below it first In May And then ethereum dropped below it Really like a couple weeks ago or so You uh if you zoom in here you can see The total or ethereum was already below The 20 week SMA really in Late July And then below the whole thing this past Week And then Bitcoin fully below it right Bitcoin was Still above the 20 week estimate even Though ethereum was not You know people keep telling me eth is Out performing Bitcoin but you know I I Keep seeing just one lower high after Another so It more or less happened in the same Order I don't think that this time is Different and we're probably going to See the continuation of the secondary Scare for a while uh and I think people Need to be prepared for that if I'm Wrong then I would you know you would The sort of the signs of invalidation Would be to get weekly closes back above

The bull market support band so if that Doesn't happen then I still think the Primary thesis of the secondary scare is Still very much intact I think we'll go Ahead and wrap it up there make sure you Guys subscribe to the channel and give The video a thumbs up And again do you remember we do have ITC Premium into the cryptoverse premium we Have thousands of charts uh on on Cryptocurrencies we have them on Equities we have macroverse charts as Well we have a lot of different things You can check it out and we do have Several different tiers available uh if You're not aware and one of them is a Free tier in fact so you don't even have To spend any money right I mean just Check out the free tier there's a DCA Tool that you can use which I think is Actually quite helpful and for many People That's probably all you really need Right it's some type of DCA tool to to Better navigate the Crypt diverse just So you can see what's what and who's who And you know which which cryptocurrency Is outperforming the other ones just so You can get an idea of of if you're just Pouring your money down the drain into An altcoin it's basically going to zero Or if the one you're getting is is at Least holding up marginally well just Make sure you check it out into the links down in the Description below thank you guys for Tuning in give the video a thumbs up and Subscribe I'll see you guys next time Bye


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