 This is the exact chart that I ended up showing back from the from late January when I first you know made my or when I For when I made my first video on Bitcoin So at the time it was beginning to pull back towards 34 five here And I was not hypothesizing that this would be the bottom This is simply the midway point between past major support roughly off of 40,000 and then and then the next major support Which was and still is roughly off of 29,000 here from back over the summer of last year So with that said it ended up bottoming out right it did hold that midway point Which was pretty odd to see I wasn't expecting such a clean hold But more so than anything my talking point on Bitcoin over the last I don't know two months nearly at this point getting close to back from January 20th I think that video was back from you know, it's to say we need to see support above 40,000 We need to see support above the and I know this is a 200 EMA. I should have flipped that to a 500 So, you know typically roughly off of 40,000 has been a major support level recently But we need to see 40,000 hold because that's right where the 500 EMA is and that's what I've been harping on So frequently the last couple of months right and there have been several points where it's teased that you know This snap off the chart a snap off the trend line to say, you know based off the run-up It made actually I was anticipating on support looking to hold Unfortunately, it did not from there again another quick snap back above support in this case It ended up running into the 200 EMA from the daily and then came right back down and now we're heading into the FOMC So, you know going into Wednesday afternoon once the Fed reaches its decision regarding the interest rates We're gonna see a lot of action just not only across Bitcoin across the whole markets across the US dollar index in particular That's something I do want to focus on as well at the end of this But you know, that's been my talking point 40,000 40,000 if we're not gonna hold 40,000 as a critical support Just like I teach in stocks, right? You know for Gary and for all of us live here If it's not breaking higher There's only one other way it's gonna go. That's it's as simple as that Doesn't need to be so complicated all the time actually to be very transparent actually for March 14th Monday this morning Fausto ended up doing a webinar free introductory today trading webinar And he was you know really harping on how indicators are lagging behind the order flow And of course nonetheless I show all these indicators, right? So when it comes to charting long-term, I do I personally like some technical analysis But I am gonna show our heat map level for for Bitcoin here coming up and it's going to reflect what happens If the markets begin to or or continue to fall fall off if if anything begin to cap But nonetheless on Bitcoin, I would anticipate to see support as low as 24 5 Right around 29 here at least if we happen to see bad results coming off the Fed meeting Now I do want to show a couple of other charts because if that's the case Well, you know, I'm not going to go into specific alt coins right now Like a theorem dogecoin cardon, you know not doing that here today. It's to say though as a whole Well, here's the bitcoin dominance chart and you know, I've been following this really actually with most of us Inside our live trading room over the last year and a half. I've shown this infrequently But over the last year and a half I've shown this at times showing bitcoins correlation or relationship with the rest of the other cryptos out there So with that said, I just want to show you I mean, hey, it's it's really coming close to the 200 EMA This is on a daily chart as well So it's to say when this when this moves up that means that bitcoins, you know Moving faster in relation to the other alt coins or it's you know, healthier in relation to the other alt coins So what happens if the market falls off? Well, bitcoin's gonna drop Well as the same time as that will happen if this begins to have an outbreak above the 200 EMA on the daily That simply means that the alt coins are gonna crap out way worse Compared to bitcoin. So if you're sitting in in an alt coin right now doge cardano Uh, you know, whatever it may be I would be really careful, uh, you know over the next few weeks next month I mean, you know, look what's happened even since the beginning of this year since mid to late jan We've seen the bitcoin dominance chart begin to you know, move off support to which I was hoping it would break But it did not so with that said, you know What happens here when it begins to break above the 200 EMA here like we had back in july of 2018 Well, it led to a huge run up if that happens while the markets fall off That's extra trouble for the for the alt coins as a whole. All right Now something else just really quickly and this is actually um in relation to the overall markets Let alone crypto as a whole. So, you know, if you're inside the live trading room right right now on this live stream as I'm doing this Uh, you know analysis if you're not interested in crypto, that's a okay But I do want to show you the us dollar index. So with that said I've noticed at least over the last Year to two years when we've seen that you know, the us dollar index is moving up and up and up and up That's where we tend to see the overall markets begin to fall off a little bit or bitcoin in particular So that's where I'll say look what happened back from July august time of 2014 once the us dollar index ended up breaking higher Well, we ended up seeing a huge run up. I have a fib retracement chart on this here just from bottom to top So that's where I could at least say well once it topped off It had pulled back down to the 50 percent retracement and then recently it's had a little struggle in between But it just slingshot it back above the 38.2 and that was back from the beginning of 2021 So that said if we happen to see a bigger push over time on the us dollar index, which it does seem likely That could be some extra trouble altogether for the s and p that could be some extra trouble altogether for bitcoin So that's something else that i'm keeping an extra careful eye on All right. Um, oh and lastly actually before I finish up this meeting here really quick I do want to show the um the level for the heat map for bitcoin in particular So this is the coin base exchange. I can cycle through a few different exchanges including futures contracts So it's to say at least, you know, obviously we need to hold above 40 000 and have needed to so it's not looking good If we happen to see bitcoin Really tank and fall off, you know to be transparent today as the s and p and the dow have fallen off from the morning bitcoin's dropped off But it actually hasn't fallen off as well or as steadily compared to the major indices, which was pretty interesting I mean directions down, but not as extensive Uh as much as the dow and the s and p So it's just to say if we happen to get a real big overnight slam on bitcoin Maybe they're kind of accumulating short positions anticipating the drop just to you know shoot from the hip thought Well, it's to say where could we find potential support initially here? Well, we have a stack of orders that have been building up right around 32 000 31 000 This right here is roughly off of 30 000 So I'd anticipate for this support this range to act as a potential safety net Does that mean it's going to hold right above the top here? 35 000 no I mean do I hope it does? Yeah, but altogether at least if we happen to see this continue to fall off It wouldn't shock me if we happen to see it fall closer towards the bottom of this net Maybe right around 30 000 maybe right around 31 000 to which I end up seeing a little Volume getting pulled from the book here recently over the last few days. This is kind of new to me I'm just kind of recognizing this right now for the first time from back on march 9th We ended up seeing at least a little volume getting pulled from the bid Slowly, but surely it continued to get pulled you know over the you know successive days So with that as we're beginning to see some potential support get pulled Think of that as the floor getting pulled from underneath you. I mean that doesn't sound good, right? So again, if you were long on bitcoin, especially before the fed meeting, I'd be really careful Uh, and then otherwise at a minimum We'll just see what happens after the fed finishes up on a 230 eastern time on wednesday january or january on wednesday march 16th and we'll do another video similar to what we're doing right now and post it on our youtube channel. All right