Bear Market Indicators Explained

"between 91 to 92K is that CME gap we talked about a few times, guy, over the past few weeks that we never thought we'd potentially reach in this market because we were going up only. Uh it was like the ones the one gap we didn't talk about like Voldemort. Uh try not to talk about, but it seems very Suddenly it's in the conversation. Suddenly in the conversation and we're quite close to it. Uh will we go through it and hit that gap? I think that it's there's potential to do that this week because of the fact that one thing to take a look at is the liquidity charts in terms of the liquidation zones and there's uh heat map shows there's a lot of uh potential liquidation levels between 91 and 92k which corresponds with the CME gap itself. So keep an eye on that. uh probability wise more likely we go down than up to at least close that gap but um it will have we'll have to see how things progress throughout the day especially as it relates to trady markets and tech stocks because right now Bitcoin's correlation with tech stocks remains near record highs at 80%."

"Yeah, and we've got to speaking of tech stocks, we've got Nvidia earnings coming up. I can't remember if it's this week or next week, but I think a lot of people are a bit nervous about that because um you know, if those if those aren't kind of amazing, then uh that could that could take us, you know, that could take uh tech stocks and indeed crypto a lot lower."

"So, I would not be surprised if we see a big bounce from this level or at least a decent bounce minimum back up to 100K. But I'm thinking heck, why not even 105K for BTC?"

"I mean, we're not at the best support resistance flip area, which is somewhere around, you know, 2,800, but we are at a pretty decent one. and it's at the 61.8 of this big move up. So, I wouldn't be surprised to see a decent bounce from here. And even if we don't get a bounce from exactly, you know, this area at around $3,000, which we already are cuz we're $200 above there, I'm pretty sure we're going to get a bounce from 2,800, which isn't too much further down from here."

"I do think that when we do get a big bounce across the board, that will most likely be a dead cat bounce and we'll end up coming back down and going even lower."