Bitcoin Ready For $10,000 Before Halving? - Bullish Stocks - 20M Unemployment
Coin breaking. Out above. 7,000. As equity, markets pushed to the upside, we're gonna be looking at bitcoins, technical, analysis, to see whether or not this descending, triangle, is going to come into play and we are gonna break down to the downside, or not alongside, with what the upside targets, may, potentially, be as you, can see here with, this technical, analysis, we've also got, the 50-day, moving average, now acting. As support, and, so whether, or not this is significant. We're gonna look at some fundamentals. Alongside some, technicals, and interestingly, enough, you can see the head and shoulder pattern has, also not, yet played out but is still in formation as, you can see with this right shoulder, still, below this head and then of course when we look at gold the, head and shoulder that we were watching has already, played out but gold being, an 11, trillion dollar market, and Bitcoin being, a 100. Billion dollar market, there is a lot of room for manipulation. In the cryptocurrency market. Versus, traditional, precious. Metal markets even, commodities. And equity markets alongside, that, and so we're gonna look at what a head and shoulder pattern is what, a Feld Head & Shoulders had and looks like and then of course go through some, other headlines. Including. 20,000,000. Unemployment. Claims in the last month, and how, that looks in comparison, to other recessions, and interestingly enough, I know we talked about equity, markets seeing further upside of course we broke up to the upside, on Friday, and ended. With, some, major gains over 700, points added to the Dow Jones Industrial. However, I'm going to talk about why I believe we. May have potentially, topped here and why, that's going to be significant, for Bitcoin, as gold. Sees, its correction, and it potentially, recore, relates itself, with Bitcoin. So first, and foremost I want to look at this technical, analysis, and point, out this descending. Triangle, which is a bearish, pattern that's currently forming I see we've got OTO Rafael Hector and turned, on the livestream good to have you guys on YouTube we've, got, some viewers on Twitter and Facebook as well make sure to LIKE this video if you guys appreciate this, content, and turn, your post notifications to ensure you get notified when, we make a new video every Monday, Wednesday and Friday but first and foremost you can see this, previous, support, here inside, of this blue has, now become a resistance. Once and resistance, twice and of course you've got a little, bit of extra here I would just consider, that noise. On the chart of course we've got these wicks printing. The resistance, levels and knowing. That we have yet to go above, this, area, of, 7400. We are still inside, of this head and shoulder, pattern and, the. Reason that's, the case is because of the fact that we've, yet to break above this head but, we are still in two, bearish, formations. But, there is a potential, bearish. Or I'm, sorry a bullish picture, here that we have yet to talk about and I want to bring that up here for you guys if you look at this chart here you can see if we look at Bitcoin in the potential, bullish scenario, there, is a possibility. That we, do play out inside, of this Bear Flag since we are above that 50-day, moving average towards. This eight thousand, dollar level and we're, still going to be in a bearish, formation.
So Realize, that of course, we've got a head and shoulder forming and head and shoulders 85. Percent, of the time play out to the downside but, let's say it, doesn't play out and that 15 percent chance, that's, still there plays. Out where we go bullish, we're, gonna break up to the upside, possibly. Towards the eight thousand dollar level but then we're still going to be in this bearish, formation, and interestingly, enough, when we look at the Dow Jones Industrial. We're, currently in that same Bear Flag formation. And of course if you looked at oil it plunged. Today down. Below, $19. A barrel, and we know an oil plunges, typically the market follows, but we're seeing an exuberance. Of excitement. With investors. Really. It's being led by all of the tech and, honestly. It's the biggest. Players like Amazon, and Walmart, seeing, all new highs Costco, of course and some, other players like Netflix, that are leading the charge but, the small, caps in the get in. Equity, markets are not doing, so well and if we look at the, small. Caps. The Russell 2000. Here which is a very good forward. Indicator, to one of my favorite leading indicators, for the stock market you can see we're struggling to even get near that 50-day, moving average, so this, is looking at the, 2000. Companies, that. Are in the. Public, stock. Market, that aren't Amazon, Microsoft. And some of these behemoths, that of course are seeing major, liquidity, come in as we, are all in a lockdown and in quarantine, but, people are still shopping on Amazon people are still using Netflix but, what about the small caps what about the 2000, what about the companies that actually are, the. Backbone. Of the US economy right, so realize. That the. Russell, 2000, not showing, so. Many positive. Signs for, the future of where we're headed of course when we look at the cues here this is the big tech stocks we're, above all moving, averages and so what's, really holding the stock market, up and it's what I talked about on Wednesday is these. Tech, players, but at the end of the day we need the small caps to follow so we're either going to be dragged by the neck by these tech. Stocks or these. Smaller, players. The Russell 2000, is going to bring everything back down and I think that's going to be the case as we know the fundamentals. Are still, there and we are seeing record. Unemployment numbers. You can see another. Five, million plus printed. On the chart for the last four weeks over 20 million in unemployment. And the last time that happened as you, can see when, we look at this chart here. Unemployment. Is a. Good indicator, of a recession and never. Before have. We seen a, spike. Like what we're seeing right now since, the Great Recession of 2008, and then of course the dot-com, bubble and right, now we're seeing that spike this is only accounting, for March 2020. Numbers have 4.4, percent but, in reality if, we were to consider the. Amount of jobless. Claims that, have been filed over the last four weeks we're, looking at potential ten to fifteen percent unemployment, number and. During, the Great Depression we, saw a record. Low unemployment rate, in 1929, that, by 1934. Soared, above 25, percent but it took time this is happening in less than four weeks so, interestingly enough as. Radar has been talking about he, is saying that we are in a. Recession. A lot, of like, what, we saw during the Great Depression in 1929 and, so what I decided to do was, I took the, Dow. Jones Industrial. We're looking at the futures, chart here and I, wanted to compare this to, how the, 1929. Correction. Looked because, as you can see here we're seeing something very similar, I've got the Fibonacci retracement, pulled up here and I'm, not sure why it's not showing the actual retracement. Numbers but you can see right, here is the 0.5. Correction. Area. Let me see if I can actually pull, this up for you with the numbers, because it's showing the numbers there you go so if we were to look at this with the numbers you. Can see here right above. That 0.5. Is where, we initially.
Saw, The top and then we saw over a 90%, decline in the equity markets why is this important, well if, radiology, are one of the, smartest. Hedge fund managers in the world he runs and is the co-chairman, currently of Bridgewater associates, he's, been doing this since, his. Teenagers. Teenage, years, if. He's saying that we're in something very close, and similar. To the Great Depression then, why not look at the great depressions, chart interestingly, enough, what we see here is we saw an initial, drop of about. 50, percent and then, we saw push back up to the upside, of around, 53, percent before continued. Downside, and when we look at what's happening right now very. Similarly. You. Can see here we saw an initial, push and that, was. About 38, percent, and now, we've seen a. Balance. Of, right. Around 34, percent so right around the same number that we've came, down we've come up of course it doesn't look, the same in regards, of candles. Because it's. Easier, to go down than it is to go up if you lose 10% on its rate it's going to take more than 10% to. The same amount of capital and that's why you see we're only about halfway there when we look at market structure but, what I find most interesting is the fact that when you look at the FIB numbers, you, can see it's, at the exact same area that we topped out in, 1930. When we're right above that 0.5. On the Fibonacci that. 50% retracement, and, even interestingly enough, if we were to calculate how far above we went you, can see we're about 2. To 3% above. Where. That's at and when we look at 1929. And how that correction, occurred, the, same Fibonacci retracement. And you, can see about. 2. To 3 percent above. The 50, percent correction range is, where we topped out before seeing for their downside and then we have this, 200-day. Moving average, in 1929. Acting, as resistance and. Interestingly enough we've got the 50-day moving average acting, as resistance today. And so has. The stock market topped out or not I think. That's a big question and I think this weekend, into next week is going to be crucial for. Us to realize where, is Bitcoin head and where's Gold headed and where our equities, headed and so if you guys agree with this analysis, that we've topped out in the Dow Jones Industrial, which is gonna leak into every other major industry say, something in the chat say I in the chat or leave your opinion the shots as you are the mid night prompts great points thank, you so much I wanted, to make sure I went through that analysis, but back, to Bitcoin so we're in a descending triangle, I talked about equity, markets seeing further upside on Wednesday we saw that I talked, about gold playing out with the head and shoulder seeing, a breakdown of course.
We Saw that right now, the one thing that we did talk about that has yet to play out his bitcoins. Head and shoulder and Bitcoin. Seeing downside, below 6000, right we did see Bitcoin drop down to around, 6400. But we didn't see the head and shoulder completely play, out so you can see it we've still got that head and shoulder in play here for Bitcoin, now this is the one that we talked about on Wednesday for gold the head and shoulder did play out we're heading down towards. This, major. Support, area which was previous, resistance of around 1650. And from. There we're gonna see what the fate of gold is going to be I believe gold, is stone a very bullish pattern, in the macro, and we're gonna continue to see upside and potentially see new highs, leading. Into the, q3. And q4 2020. Because, of what I believe is gonna happen in the stock market is what I just showed you that we're gonna top out we're gonna see new lows and therefore. Liquidity. Right now make my. Escape, gold, in. Retreat. Of US, dollars right and like we saw initially with the liquidity crisis, and then. The. Cash, is gonna stay on the side to see okay. Or the equity market is going to continue up or not equity, markets are gonna decide for themselves we saw the Russell 2000. Equity. Markets will potentially say no we're not going to continue up we're gonna see another low and then guess what more, liquidity, and capital is, gonna flow out of equity, markets into. Gold as a safe-haven asset, and just. Like how Bitcoin initially. Decoupled. With, the S&P 500 when. We saw Bitcoin. Bottomed out on March 12th, while the equity markets bottomed out on March 24th, I think, the same thing is gonna happen where Bitcoin is gonna, initially see downside, along with the equity markets because interestingly enough, if, you look at charts I didn't pull this one up on it we could pull this up Bitcoin. It likes to go down with, the S&P 500 but, it doesn't like to go up with it at least it's been like that for the last month or so have you guys realized that like, when the S&P 500 skyrockets. Bitcoin. Doesn't but, then when it dumps. Bitcoin, does it likes to go down with it but it doesn't like to go up with at least in the. Way that it's correlating, with nasibi 500 right now have you noticed that so, I think. What's gonna happen is we're going, to see a D couple we're gonna see the Holling or to have an income you, know in less than 30 days and so, the supply gets cut in half and we're. Gonna see price levels dip, down, at first I think this, descending. Triangle is gonna come to play and interestingly, enough I've got some more data for you that's, very. Very interesting, it's actually unreleased, data that. You can't really find on blockchain comm because you can see hash, rate looks all good and normal right well guess what I did some more research today, and I looked at what the hash rate is today and guess, what we, saw a huge, plunge, down, in hash rate so that's gonna reflect on, this chart. The next few days but the issue with this chart is right now we're only seeing up to April 16th, but, when we look at this chart we're, seeing today.
And Interestingly. Enough we're down below. 110. And when. We look at where that is on this chart you can see 110. Puts. Us way. Down here. It's, something that we have yet to see with hash Li so what, does that mean that there's an unexpected drop. In hash rate right now is this the minor capital, tation happening, as we speak who knows could, possibly be but, we know there's a big correlation, with hash rate and price interestingly. Enough the same way I said the sp500 was going up and Bitcoin, was it well, guess what hash rates almost back to where it was when Bitcoin was above, 7500. 8,000, why isn't bitcoins price breaking. The major resistance, here I think. It was a great way for the whales to. Say okay everyone wants to go short right now because there's an obvious head and shoulder we've got this, 50-day. Moving average, right now acting, as resistant, well perfect, time to play trickster, and company and say well we're not going to go down we're gonna go a little bit higher right. But, guess what they. Only went high enough to complete. This descending, triangle, and there's still resistance, here in play and that, head and shoulder pattern clearly. Defined with this extra. Candle. That's up here that, doesn't need to be there but is there therefore, in my opinion validates. This head and shoulder is still in play as you, can see by, what a head and shoulder actually looks like it doesn't matter if this isn't wick or not it's still a head and shoulder right if it is a failed head and shoulder which 85% of the time the head and shoulder does come down to the downside then, it's going to look something like this where we see upside, I don't think that's going to be the case and the reason I say that is they. Brought. Price up and by the way still, very, low volume but, they brought price up they couldn't break this, ascending. Or this, descending. Resistance, level that we've been talking about since Wednesday inside, of this descending, triangle which is also a bearish, pattern, so the, upside is. Potentially. There and if it does come it's going to look like this we're going to see the, 100 and 200 a moving average, act as resistance at around 8,000, but guess what we're still in a bearish pattern and so I think what's gonna happen is we're gonna see some sideways action throughout the weekend right we'd love to see manipulation, during the weekend because the, equity markets are closed future markets are closed there's, complete. Manipulation, in the markets right and so we, see the manipulation we see sideways price action we'll.
Probably Stay above this, 50-day moving average, you might come down touch, this and then, we find out okay, Monday, hits and now. It's time for the, equity markets to come to an ultimatum are you going to drop or not and that's the ultimatum we need to come to because you can see we're in this bearish, wedge. Once. Again 85%, of the time this breaks to the downside we're, in this Bears bearish, wedge right now and of. Course like. I just mentioned a lot of similarities, to 1929. And right now where we, top out at the 50% retracement, and then, we see a continued. Downward. Move is. That gonna happen on Monday well if it does happen I think that's when bitcoins going to decide to go ahead and drop after it's already cleared shorts, but, of course there is that possibility that we stay inside of this falling. Wedge if, the equity markets decide to still play around and of, course we can still potentially go to that 8,000 because now all. Puzzle. Pieces are on the table since, we're above that 50-day moving average right so, understand, that it's, going to be interesting to see what happens over the next few days but it's crucial to, see what happens because it's going to determine where. The future is headed and as I've, mentioned multiple. Times over the last few weeks I believe, we're, gonna come down for, Bitcoin at least we'll come down to that 200, week moving average and that's going to be right around that 5650, level and that's where I'm ready to enter some, larger. Swing trade positions, right at that level because, of course, when. We look at this four-hour chart you can see we've. Already double. Bottoms at this level here when we look here we double bottom here and then, of course everything. Below that was an obvious accumulation. Zone and then when we look at macro structure which I don't have drawn out on this chart is just not as significant. You can see we've, got major support, down in this level and that's show. Very clearly with the amount of by volume, with, these peak troughs forming, on these, peak. Volume, levels with buyers so, realize, that anything, below, this 200 moving average we know is a strong point but you can see Bitcoin right now showing a lot, of price actions still low volume, it's gonna play around with us don't, be afraid and, don't be, scared. When, we see Bitcoin maybe, breakthrough, 7300, so I think really the, price, action and the price level to watch right now is going to be that seventy three hundred dollar level if we're able to break through what ends up happening is we invalidate. The head and shoulder because, at that point we're most likely I mean really the invalidation, is when we go above seventy four eighty five on this gemini chart but, understand, that even, if we break that seventy two, seventy five level, that's when things can get interesting, because now this, descending. Triangle, invalidates, itself the head and shoulder potentially, validates itself and then we're stuck with, this. Falling. Wedge and this. Falling, wedge is what we'll have to wait and see will. It play out or not and most likely will, but. I just don't believe we're gonna get to that point and if we do I think. That that's going to be, an interesting thing for equity, markets because that assumes. That equity markets continue, to see upside I don't, think that that's possible with. Unemployment. Numbers at twenty million jobless. Claims and of course we looked at those charts and. It. Just doesn't make sense to me right so head it says this. Is literally contrarian, thinking, everyone is bullish right now. Tibor. Says what about the channel we dip back into after, the crash which. Channel are you talking about may be posted on our discord, mister. Mister he says that the Fed basically, propping. Up the whole economy is it possible and we don't see a drop for three or six months to spike all the bad news for Main Street well understand they're not gonna say here buy stocks, or buying bonds or buying junk bonds right they're. Buying Treasury, bills they're, not buying stocks, up and they can only do so much quantitative, easing but they've done this before they've done this many times in the past and the, point is the two factors, that were driving, the equity markets over, the last. Ten years were dividends, and buybacks, dividends. Are 26. Percent down. Now these in projection for, the next quarter so. About, 26%, of companies that used to pay out dividends aren't gonna pay them out anymore due to cash flow and balance, sheet issues, on. Top of that we look at buybacks all these companies getting bailed out like Boeing, Delta. American, Airlines United Airlines no. More buybacks. Well, when companies stopped buying back their shares those are the two things that were driving, the, bull market over the last 10 years that's, out the window so, is it, possible for the feds to just continue, pumping money into the market yes, it's possible is it going.
To Allow markets, to see new highs well, probably, not because they can't just buy. Stock. ETFs. And put. Money into major indices, right they can buy other things up but even those things are still not performing, well with the quantitative easing so you. Know they have to be careful with how they do this but you. Know the interesting thing right now is when it comes to equity markets its tech leading the way so one of my favorite leading, indicators, are the. IWM, the DJ, TQ qsm, age and the XLF rank they're all different sectors of the stock market so it's good to look at the different sectors when we look at the Q's this is tech this, is Microsoft, this is Amazon, this is the big tech companies these. Are the ones driving the market up right now the problem with that is. We're. Leaving, the, small. Cap, 2000s. Down. Here. And they're not seeing any upside they're seeing no liquidity still blow all their moving, averages right these small caps are crucial, to the US economy if these small caps cannot see upside there's, a big issue right so, we look at the queues that's leading the bull charge forward. Right now but, then you look at transportation, also struggling, right, so people are saying okay well, the airlines. You know these transportation, stocks. They're not doing well that. Shows us something right you, can see a lot of cell pressure I know so that's also not doing well just like the Russell 2000, what, is also, doing well along with the Q's the tech stocks will the semiconductors. Right it's part of tech so, they're doing quite well not as well as tech but they are doing quite, well now, we look at the. Financials, crucial, to our market right the, financials, Bank of America JP Morgan, Chase not. Doing so well so we've got transfer we've, got the small cap mm, and we've got financials, not doing so well looking very bearish, still very very, below. Their 50-day moving average they're really just being pulled by the neck by, these tech stocks but, then we look at Amazon o new, highs Netflix, new highs what happens when there's, 20 million people unemployed and demand, goes down interestingly enough it's funny you guys mention them check this out go on google.com, slash, trends, and let's see alright is Amazon really doing, that well that it needs to see new highs because you look at Amazon stock, right now and you're almost like okay well is this the next Bitcoin, boron, or I mean, is this the next test I like what's, going on here right well, no what's happening is we're seeing a big pump in tech and people. Are gonna obviously, the people manipulating, this markets like why don't we go to the website that everyone, shops from Amazon, and let's manipulate that so we can at least prop the market up in some fashion right because we always want to look at what the majority is doing and then get on the other side right because it's called trickster, and company right they come in and a trick they trick us all right we get tricked and fooled but, you look at Google Trends, well let's see is Amazon really seeing a surge that is.
Gonna Justify, the stock, going up that high um. Let's. See here nothing. Different to me look Christmas was even more than it is now there's. More people searching through Amazon, during. Christmas than they are right now right, you want to get even deeper where we can actually look at web traffic right let's pull up the web, traffic of Amazon. Is, it justified, to go this higher is this manipulation, to bring the tech stocks up have, the retail investors jump in they're, all getting their $1200, checks right now and then, they steal your $1200. By dropping. And crashing, the market well, that's definitely a possibility that could also be what's happening with Bitcoin right but guess what it didn't happen with gold Gold's, 11 trillion bitcoins. A hundred billion it's a lot easier to manipulate Bitcoin, than it is to manipulate gold, so same thing with Bitcoin everyone's expecting the downside, we've, got the, 50-day. Moving average, acting, as resistance we've, got the head and shoulder for me oh well guess what let's, bring it to the upside and clear these shorts out you. Guys are in our discord you know how many shorts were cleared out over the last three, days lots. Of liquidations, lots of Long's liquidated - so. Realize this at the end of the day though they didn't get to break that resistance, level and, yes. We're above that 50-day moving average, but the same time we're still in a head and shoulder formation, so, we've, got to break that 70, to 75, level and we've, got to see some volume come in in order for me to say more bullish if that doesn't happen we're still bearish and guess, what the most bullish, case is, still going to be bearish because we can go to 8,000. But we're still inside of a bear fly right, so back to Amazon we look at Amazon check. This out you look at the similar, web report here so this is going to show us web traffic right let's, see how much traffic Amazon has been getting I think this is also it's pretty delayed oh look, Christmas, even more than the. Traffic that, that. Had got in March 2020, right so, it is Amazon, stock justified. At these highs in. My opinion no yeah you can argue, that the. Customers. That are on the website are probably. Buying more than they used to and all of this other stuff but at end of the day lockdowns are probably going to be over by May 15th if not let's say June whatever, it is things open up demand. Those away from Amazon and guess what are these justified. Does. Amazon, going up justify. 20 million people unemployed. Well. Amazon's, only hiring. 150,000. People right now they're, not hiring 20, million people so, to. Me the, leading indicator, my favorite right, here the IWM, the russell 2000, was looking at smaller companies, and small caps they're, not doing well and at the end of the day like. We just talked about when we look at how the. Dow Jones Industrials. Reacting, to all of this we've, got major, resistance. Here at the 50-day moving average, we've, yet to come above that we're, right at that 50% retracement, and we're just about 2.5, percent above that retracement. Oh what, do you know what happened during the Great Depression where we saw similar unemployment, rates we, saw similar quantitative. Easing measures Oh we'll, look at this 50. Percent correction 2.5. Percent above moving. Average on the top and we crash down even more right so we, look at other leading indicators, I wouldn't use the oil as a leading indicator but, we do know when. Oil drops we typically see a drop in all other commodities, right, well guess what look, at oil new, Lowe is printed, for, the day closing, on Friday below. $19, so I, don't. Know I'm trying to be the umpire here and to me things are still looking quite bearish right so. Sean. Says thinking I'm for saying when I was already thinking this is this gives me more confirmation my own opinion you've cleared up a lot that's. My goal here mods, run on YouTube, says when the stocks went down in the Great Depression how, many months did it go down before started. Going up what, we're looking at the Great Depression 1929. Record, low unemployment rates, 20. 20 January, record low unemployment rates, actually. 3.2. Percent in January 2020 I think it was 3.1 percent in 1929.
Great Depression, hits, 1930. 15 percent unemployment rate right, now we're at about a 15 percent unemployment rate after 15, oh I'm, sorry after four. Weeks right. Great. Depression 1931. We, had a homicide. In nineteen thirty eight. Percent. Unemployment, 1931. Fifteen, percent unemployment and in, 1932. To 1934, above 25, percent unemployment right now we're almost at, 20 percent unemployment, and it hasn't, been for weeks so, very similar to debate depression um how long did it last up until 1934. We saw 90 percent decline I don't think that's gonna happen now back then we, our dollar was pegged to the you know it was pegged to gold there were a lot of different, aspects, to it but right now the similarities. Are there and you listen to radio leo he. Sees this worse than. 2008. Then the dot-com, bubble and very similar to the Great Depression that's, why it, took me to that chart so, Steven. On Twitter says short Amazon I'm. Actually uh I did, actually shorted, tech today I didn't. Post as a signal I'm, still determining, whether I'm comfortable, posting shorts, on the stock market for discordant, of. Course we do our bit make shorts and I just. I'm still considering whether or not want to do that because they aren't quite risky especially. In the stock market where it's, typically going up right but there, are times that you got a short and. It is what it is you know I've been shorting oil for quite some time and some reverse ETFs. Mahjongg. Says if stores open, because vaccine, is found won't anything or anything, the, unemployment, go away no it's like a tsunami right, so the tsunami hits things. Don't just go back to normal right the tsunami is already hit things are not just going to go back to normal businesses, and their balance, sheets are her. Look, at what's happening in China they're having a struggle, to reopen businesses. They've got a decline, in their GDP, and that was released third Thursday, afternoon and guess what marking goes up on Friday for the US right, irrational. Everything. In my opinion right now is manipulated, and this weekend, into next week is going to be very crucial because they can only manipulate it so much and the point is right now we're in a very very bearish. Scenario. And a bearish market structure, where 85% of the time these flags break, down on the downside we've got that 50-day. Right. On top there of course with bitcoins, a one hundred billion dollar mark it's easier to manipulate but you can see here we're. Not seeing much, by volume, the, way that we want to so, volume. Is starting to level out in my opinion it's gonna bring some sell torso. Off. To me and said any expectations. On when BTC, and crypto, markets, the couple from stocks and traditional markets I believe when we start to see the confirmation and a new bottom I think that that's going to allow Bitcoin a bottom at that 200 week moving average around 56 50 and then I'm deed couple because that's what happened before when Bitcoin went down to, 39, 90 the. Stock market kept going down a Bitcoin said whoa whoa, I'm not going down that far and it decoupled, itself right and so that's why year-to-date were higher in Bitcoin, than equity markets, but at the end of the day. Interestingly. Enough when, every markets go down Bitcoin, is starting to go down but it's not going up with equity markets so it's showing us there's some definite, sell, pressure there on Bitcoin and then as I showed you guys this chart that nobody can really, see right now on the blockchain, calm it's showing that hash rates at these new, highs and everything's okay but in reality no, when we look at hash rate today we saw a big dump in hash rate for the first time we were trending up and they're forming these higher. Lows higher lows, higher lows, first, time we formed in lower, low. And that is, a potential, start to a downtrend in hash rate and we're less than 20 days from the harvest, happening so is this the minor cap mutation. Is this all the miners manipulating.
Bitcoin Could possibly be right everyone expects they're going to go up during the Hobby it goes down nothing. New tricksters, and coke comes back, into play right so if. You guys are appreciate this content like, the video turn, on your post notifications and subscribe to our YouTube channel if you guys aren't already I'm gonna be wrapping up here soon but I don't want to mention this chart here USD. T balance on exchanges, still seeing. New highs which means there's a lot of money on the sidelines, ever yet to enter the market and that just printed a new high today again and so realize that the real money has yet to come into Bitcoin and I think it's gonna be waiting for those lower price levels at five hundred six thousand, before, they enter fear. And greed index rising, slowly, to eighteen right now nothing, crazy but most important we have to realize the fundamentals, here and the fact that we've got over five million reported, jobless. Claims last, week and a, total of over twenty million in the last four weeks it's, really looking like a, recession. Is coming and we're already in a recession that's confirmed but a depression, is possibly, right around the corner as you can see these highlighted. Periods, are recessions, this, is, the start of something already, a four point four percent confirmed on the books but, with the jobless claims factored. In and the, delay in these percentages. Were looking at a potential ten to fifteen percent, unemployment, already, and so, Google, just announced we're gonna, slow. Down our hiring for 2020, so from, that question on YouTube earlier oh well won't people just go back to work no not when there's, twenty million unemployed and then companies are saying oh we're not gonna hire as much and then you've got companies with balance, sheets that, are over leveraged and they go out of business and they bankrupt, themselves that's. Not how things work it's a tsunami right, oh by. The way on my last video yes on Wednesday, I compared. All this to Hiroshima. But. It was actually Fukushima. In Japan what, I was talking about I talked about the tsunami and how the nuclear, reactors, they, eventually. Lost, control of them because the generators, were under the water. Walls and the tsunami came it broke those generators, and then of course the. Generators, failed and then, the, nuclear plant had nothing to regulate the temperature and it was like a melting. Or, it was like a it. Was like a pop, a boiling, pot, a pressure, cooker and then it blew up obviously it's, the same thing happening right now we've got a tsunami in our global economy and once, the water comes, away and the dust settles we're going to see who's, got their pants down right as Warren Buffett likes to say when. The tide goes down, you see, who's got their pants on or not and and so if. You guys are enjoying the content I'll. See you guys on the discord, I'm gonna wrap this up it's Friday night I want to take too much of you guys this time but I hope you enjoyed this video I hope you enjoyed the information here and what's. Coming up in the next few, days until next week is gonna be crucial I'll see you guys on Monday, Tibor. Says. Emoji. With, a. Strong. Shawn says support, and like thank you nice, as we're going up we have that potential there's, that potential remembering, Eduardo. Says I don't think they'll see, recession because Trump is our president I think it might be the opposite it might be trying to get him out through the recession right I actually, posted on Twitter, before we were still at all-time highs and it was literally the next week that we saw the first job that I think that the I you. Know I'm not trying to be political, here but I didn't post that on my, Instagram, if you guys aren't following me it's at Nayeem I did, post I was like I think, the market, is gonna crash here real soon and it might be because of the Democrats at first I thought it was gonna be Bloomberg causing, it because he's got so much connections, in the market he's, already worth, over 60 billion probably less than that at this point but.
I Knew. That something was gonna happen it just I had a feeling right it was already that 10 to 12 year cycle if we've all talked about automating, on youtube, says any expectations, on one b2c and crypto mark and Steve couple from stocks we need to answer that one. So. Other. Than that I think we're. Pretty good here nick, says silver is that a buy I'm actually putting some liquidity. And silver too I like, silver a lot it's. It's it's a great asset I think gold and silver and gray I think, you, know being diversify, is the best thing right being, diversified gold silver and Bitcoin nothing wrong with silver. Off. Mises thinks and I looked for the new lows on BTC so I'm watching the decoupling history answer real great content absolutely, timers the scene in this car all right guys, adele, says you don't think people are faux mowing in well they all got their $1200, checks, right so we might see the FOMO but that's. Within Wales one so they can pull it right out of you because if you've got enough, to, put it into the markets when you get that government, stimulus then. You're, probably using an issue with them pulling it away from you right so always, be careful and look at both, sides of the equation that's what we've done today and so hope, you guys enjoyed this until, our next video let's, see trading new trader. Says lost, the live feed Z, no trading I know it's hard to find new viewers good for you man yeah we just started streaming, on trading view and because, he's talking about that but we've already got a pretty stable based on other platforms so thank, you guys enjoy, your weekend. My. Condolences, and. And. Everything, goes out to all of you guys quarantine. And then lockdown right now hope you guys are surviving. Well and, being. Healthy, and being, conscious and aware and. I hope you guys are informing, others on what's happening right now with all this quantitative, easing and with. Equity. Markets and how they're, pumping. But, not really you know make sure you inform those closest to you of what's actually happening because the best thing you can do amongst. All of this is to inform others, and. So be. Careful, with with. The markets over the weekend we see higher manipulation, than usual and of course next week is going to be crucial to see what's going to happen so to, wrap up we've got this descending, triangle. 85%. Of time this plays out we've got previous. Support. Current. Resistance, we're. Still inside of this headed shoulder formation, as you, can see here with Bitcoin, the right shoulder is not went, above. That head of. Course when we look at this we're still above that 50-day moving average which, is bullish, in certain ways but. We're seeing more bearish, patterns you can see gold which we talked about seeing. Downside, after it formed its head and so they're already broke to the downside but it's a trillion dollar market it's gonna follow rules a lot easier than a hundred billion dollar market like Bitcoin and, like I said 85%. Of the time these, patterns, play out and so. The. Best. Case I can give the bolus are we go up to 8,000, to the 100 and 200 a moving average but we're still in a bare flag and then we seen you low so that's, it for today we'll, see what happens on Monday, and I appreciate, each and every one of you guys tuning in to our YouTube they Twitter, or. Twitch, and now, our tradingview and I'll, see you all on the discord, sniper.