 What is going on guys? I know a lot of you are worried about Bitcoin's price today, so I'm doing this video for you guys here in the inner continental downtown Miami I'm about to speak in about two hours. I'm gonna go on stage to a workshop Show some people show the people here how to trade and how to go about that how to get into trading how to start You know basically an introduction to Bitcoin trading, but I'm going to do a quick video today talking about this Massive crash that we've seen over the last week if you guys remember on Friday I told you guys that there was a possible pullback coming within the neck for the next two weeks and I didn't call it the exact prices or exact timing But I knew was the second half of the month and that's exactly what we're seeing right now So we're gonna talk a little bit about it's not gonna be a super long video So let's jump right in a J here and welcome back to Bitcoin daily Bring you guys the best tips tutorials and ideas to help you guys become profitable and successful investors The goal of this channel is to empower you guys with the knowledge and resources to get you up to that next level So if you guys are new here consider subscribing make sure to turn on the notification bell as well and Everybody make sure to smash the like button. All right guys. So as you know on Friday last Friday's video We spoke about a possible Pullback that was coming in the second half of this month and that's where we're at right now one week later I don't like to be right about these things. I don't like to call pullbacks, but you know in the markets There's always going to be pullbacks. All right So we look back at the chart that I show you guys on Friday that what we're looking at these patterns over the last Five months the pullbacks that that continue to happen over the back half of each month for the past five months So you see here if we take a look at the last four months, you see here in January We had a pullback of 31 percent from its high when it reaches new all-time high To the low after the drop in the second half of January, then it'll be moved forward to February We had the same type of drop where we went to a new all-time high and then we had a pullback of 26% to the low after that all-time high Then if we look back into the last month again Posted a new high we printed a new high and then had a pullback of the 18 and a half percent and now this month We've yet again gone to a new high and had a pullback in the back half of the month If you guys notice this pullback to this month has been around 27 percent So we're still on the same track Literally the same exact pattern that we've seen over the last five months. It's repeating yet again All right So if we go ahead and look at the charts here You can see that we set a new high here and then now we've currently been pulling back So these are these lows have not been seen since all the way back and let's see When's the last time we saw this price in March We haven't seen these prices since March, which was last month in case you forgot guys So we are back and if you look here I'm not gonna even try to get the drawing tool because this laptop is like about to explode Right now from so much that I'm doing here But if you guys look here, you can see my my click you can see that we are bouncing off that exact Fibonacci level not only this Fibonacci level But the second Fibonacci level that I have set up here Which is also happens to be this exact level where we had a bounce right here last month So this is where I'm expecting for the bottom city I'm hoping that we can hold this price off here at that 50k level and bounce back up Now of course, although we're probably all hoping that this is it We all we also have to be you know We have to accept the reality of different case scenarios that could happen including a bearish one So in the bearish case scenario where we go lower than what we're currently at right now in this moment We can see a drop down to that 44,000 level if you see here on my chart You see that the next level that I have here set up is between that 44 to $42,000 level So that would be my very next Target for a bounce if we were to continue down in this trajectory Now if you see a bounce the big level that we have to watch that we're watching is going to be $50,000 That's the level that's the key area right there above 50 if we come break above it to that's what I'm looking at long Again, I'm looking for long day and after 52 we have to close the candle above it as well We can't just test it. We got to close above there to show some more some momentum and some strength on a bounce back up So those are the current levels that I'm looking at in a bit coin today So I'm not even gonna talk about the theorem today If they're just going to for the moment follow Bitcoin as long as Bitcoin is at these levels and continues down It's going to pull down the entire market with it including the theorem Now if we start seeing a bounce the theorems also going to bounce and it's probably going to outperform Bitcoin during that bounce So we can expect on a bounce if we bounce on if Bitcoin bounces from 50 up to 52 Let's say between 52 to 55 we can expect a theorem to go back up to that $2500 range and possibly retest that previous all-time high as you guys know yesterday We broke all-time highs with the theorem, but because of this pullback it pulled everything the whole market back down But if we do see a bounce here, I'm expecting to see the theorem go back up to retest at 2,500 level and retest that all-time high So as far as trade setups that I'm looking at this weekend that first level is 50k The issue with 50k is going to be a lot of price action a lot of back and forth a lot of fakeouts So I'm not taking trades at 50k. It's just too much risk for me. I'm looking for a trade of bug $52,000 so I'm going to be looking for a trade right above this level above 52 is where I'm looking and then of course the next Level I'm going to be watching is above $55,000 as well. That's my second Breakout trade now in the event that we continue down a bounce entry that I'm going to be looking for is at that $44,000 area between 44 to 42,000 I'll be using both those levels as potential break out. I mean not break out as potential bounce entries In the event that we see that case scenario where we test that during the weekend now guys keep in mind During the weekend there's a lower volume so it's easier to move the market in either direction now It's hard to tell I can't I wish I knew you know Which way the market was gonna go unfortunately, I'm not a wizard You know, I can't tell these things but from looking at the daily right now If we pull up the RSI here You see that the RSI is about to reach that oversold territory Okay, if we go here to the four-hour chart, right? And we look at the four-hour chart It's right there at the edge of that oversold territory as well Usually when there's when the RSI gets this oversold territory There's either a bounce or consolidation But usually it doesn't continue down until the RSI is more in a neutral area You can see here when we had this this drop over here The RSI was in a neutral area and I went oversold and then it kind of went back into the neutral area Then we had that dump last night and it went back to oversold Now it's climbing its way back up so I expected to at least get back to around that 40 to 50 area in the RSI Before being able to dump further is what I would guess so currently I don't think it's going to continue down So that mean it won't though. Alright guys, I hope you guys have enjoyed this video I know it was kind of in a rush, but you know, I'm here at the conference right now I'm about to go up on stage in about an hour and about two hours. So I have to get prepared now I'll be updating you guys on Instagram on, you know, the moves that Bitcoin does make I might even jump on a live stream or something later on today or over the weekend If I have some time, so I'll definitely keep you guys in the loop with anything the next move that Bitcoin does And if you're in my trade group, you already know I will be posting updates in there If you guys enjoyed this video make sure to smash that like button if you guys are new here Make sure to hit the subscribe and turn on the post notification bell as always guys I'll see you on the next one. Have a great weekend peace and love