 so today i've got some good news and some bad news first the bad news let's get it out the way the bitcoin death cross is upon us guys it is coming there's no way around it at this point we just have to face it however i do have some good news stay with me for a second could the bitcoin death cross actually be a bear trap could this signal actually be wrong could this actually this lead us higher up well one analyst definitely thinks that this is bullish for bitcoin and that it is a bear trap so naturally of course we had to bring him in to break it down for you guys himself guys you don't want to miss this video hey what's up jay here and welcome to bitcoin daily bringing you guys the best tips tutorials and ideas to help you guys become profitable and successful investors the goal of this channel as always is to provide you guys with the resources and knowledge to take you up to that next level so make sure to smash the like button guys on this video helps us out a ton and if you're new here on this channel make sure to subscribe turn on the notification bell let's jump right in all right guys so today i have a special guest with me um we will have another analyst so you guys are used to seeing me always give you the analysis and we spoke about the death cross earlier so i'm bringing on another analyst today that has a theory on why the bitcoin death cross is actually a bullish signal for bitcoin so let's go ahead and bring him in his name is john berry he's the co-founder of quantify crypto how are you doing john i'm doing great jay and i just want to start thank you for having me on the show it's a great honor to be here because i really respect your show i respect your analysis and i enjoy listening to it so thank you for having me no problem john i'm i'm excited to get you on here so a few days ago i did well last week yeah probably about five six days ago i did a bitcoin death cross explainer video where i kind of looked down what what it was um how you know what what what's happened with bitcoin previously when when it's experienced a death cross and you know the potentials so you i saw that you wrote an article on why the bitcoin death cross will actually be something bullish for bitcoin so i love to to hear more on that um but first give us a little background of on you know what what it is that that you've done because i know you've been in the game for a while and you came over from the stock market correct yes it came over from the stock market i worked for the new york stock exchange for 22 years but my background was not in trading at the stock exchange i was like a programmer then i kind of moved up the ranks i was in charge of capacity speed and performance when high frequency trading was going on and got it but i've always been around trading my whole life is a key point got you got you yeah so it makes it makes sense it makes sense why you have your uh your website quantified crypto and so my background really goes back decades for why i got involved in cryptocurrency when i was a college student um the ibm pc was just coming out i'm really going to date myself and i told my father who was big in the stock market that oh this ibm pc is a game changer this company microsoft is going to be a game changer i said you have to get in on this and he looked at me and said do they pay dividends i'm like i don't think so and he totally ignored me and never got involved in the microsoft or delo computer so fast forward my oldest son is in college and he tells me dad this cryptocurrency bitcoin thing is going to be great and i said to myself i am not going to be my father i totally ignore my son i knew nothing about bitcoin but i was open to what he was going to say right and so you know spring break when he came home was all about cryptocurrency and that summer we were starting to trade bitcoin you know bitcoin was about five hundred dollars a share wow i mean i'm a coin i should say wow yeah get me for my and so we've been involved and then we would start with like a really small amount of money exploded i mean just exploded and then the bitcoin crash came and all the old coins crashed and everything we had just yeah tanked yeah so all right so let's go ahead and jump into the uh bitcoin death cross let's let's talk a little bit about that okay first i'm going to just give a disclosure none of this is meant to be financial advice i'm not a financial expert and what i say is just my speculation on what might happen so um a lot of my analysis is based on what we have researched and learned and i want to look at the last two bitcoin death crosses so i'm going to share my screen yep okay so today this is the daily um bitcoin price chart you can see the blue line up here is the 50-day moving average and the line below here the gold line is the 200-day moving average and these two lines have been coming together every day now my expectation is around june 21st is when the actual bitcoin death cross is going to occur i feel it's inevitable because the 200-day moving average goes back until i think late november into december right now and so it's losing like a 15 000 dollar value every day and being replaced by a 36k value so that's going up right where the 50-day is losing like a 55 000 to 62 000 price so it's going to happen bitcoin would have to go like to 80 000 yeah to for it to not occur this is this is going to happen it's no if ands or buts okay i'm going to go back in time and just move my screen to 2020 and the big reason why i don't believe in the death cross called the golden cross is that it is a great indicator for stocks there are so many stock traders that have used these metrics successfully and they've made boatloads of money on it right it works really really well for stocks and it has a huge following in the stock market but to me the daily averages is a great way to detect support levels it's a great way to detect resistance levels but i feel a good momentum algorithm is best for cryptocurrency and that the shorter time periods are critically important because like the two hour the one hour the 30 minute and even all the way down to the five minute are critically important because bitcoin is so highly volatile it can move so quickly in a short period of time you really need to zoom in for those shorter time periods and i feel the 200 day and the 50 day for a trader like me just lags way too much right where in stocks it doesn't lag as much because stocks don't have the volatility right correct and so in 2020 we definitely had some bitcoin death cross going on okay we had a golden cross occur and then that's right in February yeah and the pandemic was happening right okay and so it was clearly not a time to be buying any asset at this point because it was risky and this is just a sign that it's lagging and then multiple days later the market totally crashed right the bitcoin death cross happens like March 25th which is 13 days too late after the March 12th low and dumb and then we have a golden cross occur here on May 20th and technically this is an accurate indicator right where crypto does leave from here but to me it's just a coincidence because every technical indicator that happens after March 12th 2020 is a buy signal right right now like if you had something saying oh bitcoin is bad after March 20th or 30th after it's clear it's recovering totally get rid of that right because everything is saying buy buy buy right so I want to go back to 2019 to me the market that we have today is exceptionally similar to what was occurring in 2019 okay I really want to zoom in on that just to give some history in 2019 bitcoin was having a great year it had hit highs of 13,000 after starting the year very weakly yeah you know so we had even a golden cross that was accurate in April 2019 occur it lagged a little bit which is my biggest problem with it but it was accurate right and now we come to October 25th 2019 and I really wanted to zoom in on this and if you go right before the death cross actually happens which is late October 21st you can see this 50 day moving average is sinking downwards you can see this 200 day moving average is consistently going up very much like today right and who watches these things are stock traders right and stock traders kind of look down to cryptocurrency traders to a degree they think this is a crap asset I can make easy money in this crypto right ability of it and they look and they have their favorite things because when you have your favorite indicator as a primary indicator and it's telling you to do something right they are going to go in on it of course and so this short right here for a stock trader is saying short it's saying it's gonna collapse it's going to short and who else is looking at these things are crypto whales crypto whales are not stock traders they watch and the favorite thing a crypto whale likes to do is cause people to be liquidated right forced out of their positions and at this point the media youtubers everybody everybody was bad if I can just bring this image so back in October of 2019 these were the images you were seeing for the bitcoin death cross yeah people were saying bitcoin is going crazy you see the skull and crossbones yeah you see the coffin you see the fire you see the hell you see bitcoin and the rocket ship is going down and everybody is saying bitcoin is going to 3000 you know which is going to be a tremendous loss yeah around 7000 at this point yeah and so the negativity is just extreme right now in bitcoin and I feel that's a lot today I think in the next week you're going to see more of these type of fud videos right coming out that are followed by the crypto whales right now as I was saying the crypto whales are watching these indicators yeah and in your video back in May mid-May you talked about how the crypto whales had been selling it might have been a planned sell-off you know you talked about that anonymous person that posted right that there was going to be a big downturn it was a very good video and then everything kind of crashed but to me the crypto whales were selling when bitcoin was at these very high lofty levels so they have cash on the side and this narrative where stock traders are going to come in and really be shorting bitcoin because it's an algorithm set up that they follow and they plan to make money but the crypto whales it's like a chess game you know they are a step ahead of the stock traders yeah always yeah and they're always taking opposing positions basically so whatever the majority thinks is going to happen they usually do the opposite of that you know yeah and the press coverage is going to be really negative on this so so another thing that that kind of coincides and goes with what you're saying is if we take a look at the open short positions we pull this up so this is the amount of shorts that grow up this is back on May 17th when we had the huge drop so this candle is basically doubling the candle that we saw on the day of the drop now if you try to look back once the last time that we were this high as as amount of open short positions you have to go back all the way to the pandemic so you can see over here March 12th all the way to March 16th basically just massive open short positions and right now we're about to hit that same high that we were at back in March 16th so what that's leading me to believe as well as like you said that kind of goes with your theory this could cause a massive short squeeze where we can end up getting kind of a candle like this but in the opposite direction to the upside i've been saying i don't know if you've seen my analysis lately but i've been saying that if we can get above 42 000 that's going to cause i believe a short squeeze where we will get at least up to 50 like it'll be like one big green candle all the way up to 50 i think yeah i agree with you i think 42 k is a very key level and that we're gonna punch that in like June 21st if we get above that like you know we we break that um the narrative of going dropping down to 30 or below because we that would put us above not only the descending uh resistance that we're watching right now here it'll put us above the 40 000 psychological resistance and it'll put above that 42 that there's confluence there with you know the moving averages there's a Fibonacci retracement level there it's a previous all-time high so it's a lot of things there and if you even pull up the rsi's you could also see that there's a bullish divergence right now in the market so there there's definitely a lot of different things that are that are backing up your theory there okay so this is really zooming in on the bitcoin death cross 2019 this is the one hour candle and the prior chart we showed you how bitcoin has really come down it was like at high at 13 000 and it's now at 7 400 and when i look at the one hour i look for what i call a set up to signal pretty much after a large drop and we've had a large drop here um there tends to be a flattening out period and this is what i am looking to see happen on like the june 19th 20th and i'm hoping for is that we're going to see a period where things kind of go flat you have people that are trying to short it but you have somebody that's kind of just you know i'm going to be buying at this level and you're going to have something flat right but then you start seeing an uptick in activity and this is exactly what happened on march 25th uh 2019 was you had this 50 jump where it went from 7677 all the way above 10 500 all within 12 hours wow so this was a massive short squeeze and the 25th is the day the death cross really happens so you can look at the death cross in 2019 and see it has a high price of 10 500 and say wow it was all the way up there but when i was trading it this day i was long and i was very happy i had like one of my 10 best days of trading on this bitcoin death cross and it was because of the setup that occurred before the bitcoin death cross actually occurred and so that leads us to today where we've had this major increase in bitcoin and we are here today where the death cross is going to occur probably in 10 days you know it might be eight days from now it might be 12 days from now let's go into a car yeah and as your analysis showed earlier short positions are increasing and that was our stock traders that are seeing the death cross is definitely going to happen you're going to see the youtube's you're going to hear it on national business channels that the bitcoin death cross is a happen it's a fearful thing you're going to see the skulls and the crossbones you're going to see the coffins bitcoin is going to die you're going to see peter shift celebrating and then i think you're going to have a really massive short squeeze i think this is a classic bad trap all right so uh thank you so much john i appreciate you coming on here and talking to us and you know sharing your your theory on uh how this bitcoin death cross could actually be something to take us back up uh where we can possibly see some sort of short squeeze and and uh explaining why um based on history what the price has done uh on previous death crosses um because at the end of the day moving averages are lagging indicators it doesn't always tell the full story thank you so much again john i appreciate you coming on here um you guys can find him the website your website is quantifycrypto.com and uh where else can they find you no quest by crypto.com i'm on twitter also okay quantify crypto there but twitter but the website check out our website we think we have a great website for people awesome thank you so much john appreciate it okay thank you jay love being on all right guys i hope you enjoyed this video as always trying to bring you guys different angles different perspectives and different views so if you guys enjoyed this video make sure to 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