BITCOIN: This Indicator Signals THE END Of The Crash

Jason Pizzino

Introduction to the Market Analysis

The speaker discusses the current state of the Bitcoin and cryptocurrency market, highlighting a new low for Bitcoin, down 23 days from its all-time high of $17,200, and nearly 16% from that top. Despite potential further drops, the risk and reward are becoming more favorable.

Market Sentiment and Signals

  • Fear and Greed Index: A significant signal that has called the lows of the market every single time throughout history. It has reset back down to neutral, which is what was anticipated.
  • Three-Day Rule: Indicates a potential turning point in the market.
  • USDT Dominance: Broke above 4.2%, a key level. When this chart goes up, it's not good for Bitcoin and cryptos.

Bitcoin Analysis

  • Downside Targets: $85,000 to $86,000 as the first target, with a potential further drop.
  • Weekly Chart: Shows a downtrend with lower lows and lower highs.
  • 100% Repeat: The move from the top to the swing low is repeated, indicating a potential drop to $85,000.

Historical Patterns

  • 2017 Pattern: Bitcoin's price movement in 2017 is being mirrored in the current cycle, with similar patterns and potential for a significant move upwards after a correction.
  • Cycle Length: Roughly 480 days to the top, followed by a quicker move to a similar high.

Other Cryptocurrencies

  • ETH: Broke down past $3,300 but is still above the 50% level and $2,800 support.
  • Salana: Broke down under the 50% level but is trying to reclaim it.
  • Suey: Closed under previous tops, potentially heading to retest the $4 level.
  • XRP: Failed at the 50% level, with downside targets at $1.40 to $1.60 if it follows historical patterns.

Conclusion

The market is seeing a reset, with Bitcoin and other cryptocurrencies experiencing corrections. Historical patterns suggest potential for significant moves after these corrections. The speaker emphasizes the importance of understanding these patterns and being cautious in the market.