The Bitcoin Price is VERY Suspicious… (I’M NERVOUS)

Yes welcome back everybody to altcoin Daily my name is Austin there's Something very interesting happening With this recent Bitcoin rally now still Over twenty one thousand dollars and While in our video from a few days ago I Talked about why this Bitcoin pump is Happening the real reason Bitcoin is Going up I will link this down below Check it out in today's video we're Going to talk about the sustainability Of this rally can we maintain because While we understand that the reason we Wicked up so hard so fast was due to Manipulation I.E short Traders being Liquidated in fact looking at the newest Data we see that the short liquidations Were their highest since October 2021. So hundreds of thousands of short Traders got liquidated forcing the price Up and that now forces us as Bitcoin Investors to re-examine where we are you See looking at bitcoin's price on the Day chart We have a very bullish technical Indicator Bitcoin is crossed and thus Far maintained its presence over the 200-day moving average historically this Signals bullish momentum for the asset In Bull markets we usually ride above it In Bear markets we either get rejected Off it slash ride below it so this is a Key indicator that subscribers of this Channel are going to keep watching and

Even though we've crossed we're not out Of the woods yet what I would like to See ultimately is some sort of retest Off of the 200ma leading to further Confirmation to the upside so don't just Play the breakout wait for the Confirmation of the change in momentum For example back in 2017 this was the Top around 20K how did we know that this Dip was the start of the bear Market as Opposed to just one of many dips we saw On our way up well a big indicator was Yes when we crossed below the 200-day Moving average but it's when we crossed Below we did bounce Above It Go below Again then ultimately got rejected this Indicated a momentum shift we saw a very Similar thing in 2021 although it was Slightly different due to the unusual Double top we broke below it we actually Bounced above it kept going up and then Broke below it again but it's when we Got rejected in early 2022 that Indicated the bowls were weakening the Bearish momentum was sustaining I can easily give you bullish examples Too because again that's the question For today are we there now we see after The 2018-2019 bear Market we did cross Above we never really got that retest For months we went up before we broke Below chopped around and then after that Coveted crash we quickly got the retest Which sent us in to bowl season again

This is not a way they're gonna time the Exact tops nor will we time the exact Bottoms but indicators like this are Just a good way to gauge momentum in the Market slash Trend changes in an asset Price so while this channel keeps an eye On the 200-day moving average what other Metrics am I watching well another big One on the weekly is bitcoin's 200ma Weekly moving average so not daily but Weekly and historically with Bitcoin Even though this asset hasn't existed For that many weeks relatively speaking Bitcoin has usually trended above it the 200 weekly in Bull markets and bear Markets in fact the first time we really Broke below for any significant amount Of time was we broke below it in June of 2022 so mid 2022 and then we got that Confirmation Below in September 2022. This tells us that even though we're Bullish in the very short short term for The bigger Trend change we're going to Need to see a cross above the 200 weekly Ma which is right now sitting at just Under 25 000 and then of course they Break up potentially a retest and a Confirmation to the upside these are two Indicators that I'm watching when Anything significant changes I will make A video I will let you know and then of Course a really important metric used in All markets volume showing us if there's More people or less people coming in

Trading buying and selling this asset And generally the more volume even Though volume does represent both buying And selling but the more volume means The more people means a bullish Indicator generally for an asset when we Start to see declining volume like this For example in the double top of 2021 Even though price got backed what we saw Similar six months prior volume was Nothing relatively speaking showing us a Clear lack of Interest That gave us a clue to bearishness now What do we want to see looking forward Well much like other bull markets you Want to see higher highs with volume 2017 higher highs with volume signaling Bullish momentum now unfortunately even Though we did get a tiny pop I'm not Seeing the volume pick up right now in Any significant sense and again that Makes sense as per yesterday's video we Found out that Bitcoin shot up due to Price manipulation to the upside Traders Getting liquidated again link down below Check it out but this lack of volume is Starting to be noticed by other analysts As well like from Andy Leon in a direct Quote he says this pump above 21 000 Doesn't mean the bear Market's over Firstly the lack of Bitcoin trading Volume around the region of 18 000 which We pumped from and RSI shows that Bitcoin is overbought telling us showing

Us that this rally could be short-lived And then secondly the massive layoffs by Crypto companies in general as well as The sec's new charges on Genesis and Gemini for the unregistered offer and Sale of crypto asset Securities looks Like it would take longer to see a real Sustainable Bull Run meaning even though We've seen a bullish pump and even if we Continue and we do see another bullish Leg up do not bet the farm yet now most Of you have heard that the SEC has Officially filed charges against Gemini Exchange I'll give you an update in a Second but this is interesting because Even though even though Bitcoin Transaction volume and fees have Somewhat crashed active addresses and Transaction count are holding strong Meaning a Divergence meaning while we Are seeing some bearish indicators there Are some bullish indicators to keep an Eye on so the bearish ones are obviously Bitcoin transaction volume trending down As well as Bitcoin fees meaning Essentially usage on the network pretty Low yet while that is happening Bitcoin Active addresses have started a trend up As well as Bitcoin transaction count Have started to Trend up Now we could interpret that data in one Of two ways either investors Traders saw The pump got excited and started picking Up their activity on the network meaning

Essentially that this caused this jump Started the bullish activity on the Network or another interpretation is Looking at the Bitcoin price maybe that Activity was the reason that we saw Started to see just a slight uptick in Bitcoin's price of course that's what Triggered the liquidations of the shorts And send us into the short squeeze but Either way according to sentiment which Is a market intelligence platform this Is a definite explanation on why crypto Prices have bounced so this is looking At the wallet Holdings of the Sharks the Small whales and the whales so sharks Are any bitcoiners that hold between 10 And 100 Bitcoin shark wallets have added Over 105 000 Bitcoin in the past 10 Weeks small whales wallets of this size Have added over 67 000 Bitcoin in the Last eight weeks and then of course Large whales with this size wallets have Added over 37 000 Bitcoin in the past 10 Days what does this mean to you and me Well Bitcoin bounced following large key Stakeholder addresses meaning the Sharks The small whales and the large whales Taking up finally accumulating big now Maybe this is the start of the bull run Or maybe they're accumulating big just a Dump on our heads at around 25 or 28 000. we need more data and this piece of News is very suspicious Failed 3ac three Aero Capital Founders

To launch new crypto exchange GTX sort Of very similar name to FTX so we notice That just when excitement starts to pick Up in the market all these new projects Come about to try and play off that Excitement to seek funding according to Two distinct presentation decks suzu and Kyle Davies the founders of 3se are Seeking to raise 25 million dollars in Order to launch a new exchange named GTX The new exchange will focus on trading Bankruptcy claims filed by crypto Enterprises like Mount gox Celsius block Fi and FDX here is that pitch deck that Was uncovered on Twitter so how Kyle Davies and suzu Pitch themselves they Say co-founders of three arrows capital From 2012 to 2022 started with 1.2 Million dollars of partner Capital grew To over 4 billion and then made a whole Bunch of money 40×80 X in crypto before 3ac went bust in 2022 would you invest This is what they're trying to do raise 25 million dollar seed round to Streamline FTX and other bankruptcy Claims onboarding and primary Marketplace so let me get this timeline Straight 3ac was at the top of a Multi-billion dollar Ponzi scheme Luna The collapse of Terra Luna they went Insolvent causing the bankruptcy of Dozens of crypto firms and losing Billions in retail funds and now they're Raising 25 million dollars for a new

Project Be sure to use code altcoin daily for 10 Off your ticket to bitcoin 2023 the Largest crypto conference in existence We will be there come chill with us come Hang with us again link down below and Like always see you tomorrow

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OUR TAKE

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