BITCOIN: This Chart Is FLASHING A Major RESET for Markets (Watch ASAP)

Jason Pizzino

Introduction to Market Analysis

The speaker discusses the current state of the Bitcoin and cryptocurrency market, focusing on the recent decline in Bitcoin's price and the signals that suggest a potential reset in the market.

Bitcoin Price Analysis

  • Bitcoin has broken to a new fresh low, with the three-day rule signaling a local top.
  • The price has dropped nearly 16% from the top, down to $91,000, with the possibility of further decline to the next support levels.
  • The speaker mentions that the time underneath the all-time high might not be as long as previously experienced, but it suggests a local top and a potential reset.

Traditional Markets Analysis

  • The S&P 500 has dropped another day, breaking the short-term 50% level, which may require reassessing the 50% levels and looking at the August low.
  • The theme of the video is the reset of the market, looking at timing and sentiment changes.

Timeframes and Market Cycles

  • The speaker analyzes timeframes to predict market movements, looking at past cycles and patterns to determine potential future movements.
  • Historical events like the Middle East conflict and the US debt ceiling crisis are used as examples to illustrate how timeframes can be used to predict market resets.

Micro Strategy and USDT Analysis

  • Micro Strategy's decline is discussed, with the stock falling over 40% from its top, which could be an early warning sign for Bitcoin's cycle.
  • USDT has bought up more Bitcoin, but the company faces regulatory hurdles in Europe, which could impact the market.

Sentiment and Interest

  • The speaker talks about the lack of interest in Bitcoin and crypto, evident from search volume and exchange volume, which are at low levels.
  • The Fear and Greed Index is still in greed, but the trend may change soon.

Bitcoin Price Targets

  • The speaker discusses potential price targets for Bitcoin, including support levels in the mid-80s and the possibility of a corrective low next week.
  • The three-day rule is explained, indicating a strong change in trend, and its significance in predicting market movements.

Weekly and Monthly Charts

  • The weekly chart shows Bitcoin's third red week, which isn't a great sign, but there are still good support levels down below.
  • The monthly chart looks unfavorable, with a big reversal bar, which could spell a longer correction than anticipated.

USD and Total Market Cap

  • The USD chart is rising, which means less money is going into Bitcoin and other cryptocurrencies.
  • The total market cap is still in a reasonable position, with plenty of support to the downside.

Conclusion

  • The speaker concludes by summarizing the potential scenarios for the market, including the possibility of a reset and a longer correction.
  • The importance of being prepared for any scenario and protecting positions is emphasized.