🚨BITCOIN IMMINENT WARNING - THIS IS *NOT* A DRILL!!!!!!!!!

Bitcoin Price Breakdown and Banking Crisis

In this video, the speaker discusses the potential breakdown of Bitcoin's price and how it relates to the ongoing banking crisis. The speaker also highlights the flaws in calling Bitcoin a scam.

Bitcoin Price Breakdown

• The price of Bitcoin is likely to break down out of a short-term multi-week pattern.

• When zooming out, the potential breakdown becomes even more significant.

• Baby bears should be excited for what will be their likely last dumpy move before something much bigger.

• It is worth noting that JP Morgan's CEO predicts further bank failures due to commercial real estate losses.

Banking Crisis and Bitcoin

• The banking crisis is nowhere near being over, as evidenced by Pac West's 20% drop.

• The US default would have serious global repercussions, according to an IMF warning.

• The US financial system is intentionally complicated to obfuscate its Ponzi scheme nature backed by trust.

• Calling Bitcoin a scam highlights one's lack of understanding about the banking system being infinitely bigger scam.

Understanding Bitcoin

• People who call Bitcoin a scam are those who don't understand it because they haven't researched it for five minutes.

• With Bitcoin, you can see every transaction and supply schedule going past 2100 for over a hundred years.

• People who make bold claims or statements about things without doing research have flawed logic.

Logic Flaws and Bitcoin Charts

In this section, the speaker discusses how people with lower IQs tend to make statements without doing research. He then pivots to discussing Bitcoin charts and patterns.

Lower IQs and Research

• People with lower IQs tend to make statements without doing research.

• People with higher IQs understand that it's silly to do so.

Bitcoin Charts and Patterns

• A chart on Twitter highlights a pattern in Bitcoin's history that could lead to a price of around $150,000 per Bitcoin.

• The speaker believes that $50,000-$60,000 is a reasonable target for the next two or three months before consolidating for multiple months.

• According to another chart, Bitcoin is currently breaking down out of a multi-week symmetrical triangle or consolidation range between $26,000 and $30,000.

• The speaker thinks that this area has been pretty robust but may be broken down soon.

Bitcoin Support Levels

In this section, the speaker discusses the support levels for Bitcoin and how they relate to its price.

Bitcoin Support Levels

• Bitcoin has massive support at around 24 to 25 thousand, with bottom support at 23 to 25 thousand.

• There is also big support around 26 thousand.

• The speaker wants to see Bitcoin get dumped on to validate these levels of support and see how quickly it bounces back.

• A breakdown is likely to happen in a big dumpy candle, similar to what has happened over the past six months.

Healthiest Possible Situation for Continued Breakout

In this section, the speaker talks about the healthiest possible situation for a continued breakout of a two-year-long falling wedge pattern.

Continued Breakout Situation

• The current situation calls for a further dump pullback to retest and reclaim levels of support.

• The chart illustrates that resistance exists at certain levels, but if we can come back and retest those levels as support, it would be the healthiest consolidation within this wider context breakout.

• If we cement these levels as support, we could ultimately bounce into September or October up to mid-40 thousands depending on how quickly we slice through some of these things.

• This is a very strong long-term pattern that could turn into something extremely bullish with just a couple more weeks.

Long-Term Momentum for Bitcoin

In this section, the speaker talks about long-term momentum for Bitcoin and encourages viewers to sign up with Femex or Big Cat below if interested in trading.

Long-Term Momentum

• The tips are about to touch on this 30-day chart signaling more long-term momentum for Bitcoin.

• All we need realistically is a couple more weeks, and this could turn into something extremely bullish.

• Viewers are encouraged to sign up with Femex or Big Cat below if interested in trading and earning massive deposit bonuses and sign-up bonuses.