BITCOIN WARNING: THIS COULD ESCALATE VERY QUICKLY!!! [Clock Is Ticking…] Silicon Valley Bank
Bitcoin surges back after USDC fears come to end as Silicon Valley Bank receives bailout! Time for #BTC to resume “up only?” Everything to know heading into CPI!
. Bitcoin having a massive Almost 20% rally off of the bottom. Now why is this happening? Well to be totally honest, we did have a very critical level of support right here Right we spoke about the significance of this We had this downward sloping trend right here Right which we did perfectly test that and we had the top of this previous all-time high perfectly coinciding boom and we got that bounce almost up 20% Now is it just because of the technical?
Well, I do think they had a lot to do with why we stopped there but we had a lot of the USDC fud right currently right now you can see that USDC coin is basically back to about a dollar right? It’s at 99 You know 0.9 cents whatever so it’s basically back at a dollar now. Why is this happening? Well as you guys may have heard no surprise it looks like Silicon Valley Bank is in fact getting bailed out now Joe Biden assures us and Secretary Treasury Yellen assures us that they’re not gonna start bailing all these different companies out and they’re not bailing out the investors They also claim that the money’s not gonna be coming from taxpayers It’s coming from the deposit insurance fund.
So I guess we’ll see who knows you know I guess they can pull that off But nevertheless this created a lot of positivity over the weekend leading into today You can see Jeremy Alair over at circle was talking about 100% of deposits from the bank are secure and will be available So again all of the USDC is back one to one so everybody panicked basically for no reason and you know before we get to the charts Like Ryan Seltk is pointed out a regulated bank threatened the stability of a stable coin before a stable coin Threatened the stability of a regulated US bank every time Senator Warren defames the industry from now on Kindly remind her of this very public and verifiable fact.
Well, it might signal that the Fed is seriously going to consider you know going even harder for even longer Which they’ve kind of already hinted at that but again guys This is the beauty of the charts and I have to just say it’s absolutely amazing you could see we had this Resistance right here from the 2017 high and look at this we had this little resistance here right for multiple weeks multiple weeks multiple weeks Finally broke out of it. Okay fast forward all the way over to here. What are we seeing support lost it right Didn’t even really get up there for the resistance and boom touched it again guys So beautiful retest of two of some of the largest supports for Bitcoin.
So and I mean you can see Actually if we I can’t go lower without changing it But if you guys see right here another perfect bounce off that 200 day right and we said we needed to stay above this right because When Bitcoin does tend to go above it it tends to stay above it for a relatively long time right and you can see We are back above the 50 as well By the way guys if you do want to learn how to trade just simply get subscribed to the channel all this information is free No charge courses nothing like that and if you guys want to take advantage of those bonuses below Make sure that you check that out check out my free tutorial popping up above So we did close the CME futures gap now Something that we need to discuss though is that we actually opened another gap by closing this gap Right here over the weekend.
So, I know I know technically this gap is around 20,335 now because that was so close to the one that we just previously closed as account I don’t know guys we do know from history though that you know these gaps do tend to get closed But that being said you can see right here on the futures We are seeing see this upward sloping trend right here right here. You can kind of see that we are breaking through it but we want we want to make sure that we hold above that level. So, I mean really you know You want to get back above really this $25,200 level right that was the level that we could not get above we tried for two straight weeks And we could not do it What do we want to see on the on the on the lower time frame? Well simply on the lower time frame closing above 22,08 which is basically this pivot right here.
Okay, and the next level where I would be looking right here Would be on this upward sloping hardline and that level is exactly at about 21,140 so I would we could see a little bit of maybe like a little bit of stall right there but ultimately if we can break through 25,3 that would be great But again. I can’t stress enough that we have major levels of resistance and You know, we also have the 200 let me go back to the 200 weekly Uh, if I go to the weekly here. Okay, look at this So you know, we are above this 50 on the weekly, but don’t forget we have this 200 right here Which is very critical and that’s literally at about 25,340. So again I still hold the most important and critical level still being at about 25,300 Good news is on the daily we did get our first green dot on market cipher We also have confluence happening here on the wave edge indicator.
So yeah, this is looking to me pretty good and you know, if we do end up getting that trigger wave Then I would say that there is more potential chance of an upside move for Bitcoin and even stocks have had a rally off of this level right here Of course stocks are now sitting below their downward sloping trend So the S&P actually has a little bit more work to do than Bitcoin to get back above that trend The S&P really wants to get back above almost 4,000 even really, you know, to be back in you know, bullish territory But nevertheless guys crazy times it is insane how fast these markets can move And this is why you have to be careful with some of these news events, you know, people try to trade the news.
You know for first everything’s getting everything’s collapsing and then next thing, you know, they’re bailing them out Right again, though again, just an advertisement for Bitcoin and you know, just to kind of end on this note Gray scale has a 70% chance of winning the case With the SEC people are feeling a lot more confident about that and you know like Robert Kiyosaki says bailouts begin more fake money to invade sick economy Still recommending same response buy more gold silver Bitcoin take care crash landing ahead And a lot of people still do not think that the Fed is going to be able to pull off that soft landing We do have to see though like I said guys tomorrow, you know, we’re having a great day today a nice green candle pump But we do have to see what happens with the CPI data tomorrow if it does come in You know unexpectedly high or not coming down fast enough.
You know who knows guys we could we could just see you could you know, we can see the gains get completely erased again But I still ultimately do remain bullish on Bitcoin long-term And of course short-term as I did say you know, even if we do get stomped down here Ultimately, I still believe that we could consolidate sometime into the middle of this year Which would be like the craziest healthiest Accumulation period ever and then I do believe that we would continue to the upside But I know a lot of people are still in the doom and gloom camp and you know, we got to keep going lower and the economy’s falling apart But that’s opinion obviously we have to see how it ends.
We don’t we don’t know how it’s officially going to end. It’s kind of funny how It’s almost backwards you have the jobs report coming in positive right we’re adding jobs to the economy and yet people are dumping Stocks negative because then that signals that the Fed is gonna raise rates longer and higher So it’s like they say they want a soft landing, but obviously they Know that they kind of have to break something in order to put on the brakes So as we could see right here though guys very critical level right we’re coming to this downward slope So pay very close attention to that if I see anything crazy in the charts I will make sure to update you so make sure you get subscribed turn on the bell notifications.
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