You should already be in a short! I show next point to long bitcoin!

Bitcoin Update

In this video, the speaker provides an update on Bitcoin and shares insights on when to long or short.

Key Points

• If the next daily candle opens above 27,400 above the FIB channel line, go long. If it opens below 27,400, go short.

• The FIB channel line is a key resistance level and there is potential for more downside movement.

• The DXY chart can be used in conjunction with the Bitcoin chart to determine when to long or short.

• A chart published on August 22nd, 2021 showed that there was a potential top and drop in Bitcoin's future.

• Bitcoin follows the stock market so if markets are crashing, Bitcoin will crash as well.

Dow Jones Crash Ring

This section discusses how the Dow Jones Crash Ring can be used to predict market movements.

Key Points

• When we hit the Dow Jones Crash Ring on the daily chart, we should expect a drop in prices.

• The current blue ring indicates that there is still potential for downside movement in Bitcoin.

Key Support Levels and FIB Channel

In this section, the speaker discusses the key support levels for Bitcoin and the FIB channel. The daily candles are above the line of the FIB channel, but once it passes that guideline, every single day's candle has been below that point. The next key FIB channel line is around 25.

Lowering Key Support

• The speaker suggests lowering your next key support just like this FIB Channel.

• Notice all the daily candles are above this line.

• Once we pass the guideline now every single day, the candle has been below this point.

• This is your next key FIB channel line below you know down here around 25.

Rings Work

In this section, the speaker talks about how rings work in trading and how they can be used to predict market movements.

Using Rings to Predict Market Movements

• These rings work guys.

• This ring up here was how I knew potentially we were topped out.

• We had this last line in the FIB Channel and we have this blue ring where we got topped out here.

• Here we didn't make it back up so likely.

Potential Price Movement

In this section, the speaker discusses potential price movement based on market trends and technical analysis.

Predicting Price Movement

• You'll notice we got a perfect rejection right here let me push up.

• We made contact with the top of this ring so it just seems likely that we're ultimately headed down to around twenty-four thousand six thirty that's where this ring makes contact with this FIB channel line typically you'll just bounce between these Rings right?

• This will be a support level so I think that's where we're headed.

• But I would pay attention to the dxy guys.

Correlation with DXY

In this section, the speaker discusses the correlation between Bitcoin and DXY and how it can affect price movement.

Correlation with DXY

• All I'm saying is I do expect the dxy to continue higher but you will get retraces.

• It's possible we can push up at this point you would long Bitcoin as support we would come back down but I do expect this to break again as the markets continue down.

• People are going to be fleeing out of the markets into cash into the dxy and Bitcoin is very inversely correlated with the dxy so if the dxy continues up Bitcoins can continue down um so that's pretty much it uh these are your key your most key support level.

Key Support Levels Continued

In this section, the speaker continues discussing key support levels for Bitcoin based on technical analysis.

Key Support Levels

• Your current daily candle if Bitcoin comes down and this daily candle currently your key Sports around 26 000 110.

• This is also where the 200 week moving average is at any point.

• The 200 week moving average becomes resistance that's going to be very bearish your next point to potentially long again twenty-six thousand one ten if we drop below that next few days or a little less than a week 25 652 that's going to be your next support level.

• If that breaks your next Port level will be this FIB channel line test there's a lot of influence here you have a fips handle line you have this blue ring.

Potential Price Movement Continued

In this section, the speaker continues discussing potential price movement based on market trends and technical analysis.

Predicting Price Movement

• At any point we push up and get above 27 414. you know maybe this is a little fake out to the downside we'll see but if you see the dxy uh start dropping and Bitcoin pushes up at any point we hold above 27 000 414 all right that would be the next daily candle then your target Too Short again like I said in the previous videos.

• We'll be right here at this Blu-ray that's pretty much it guys.