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Disclaimer: The information I discuss in the videos on this channel are only the views of myself and are not to be taken as financial advice. The purpose of these videos are to promote discussion and interest in the crypto-space. Also, we like to make jokes!

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In today’s video, we discuss both bullish and bearish technicals for Bitcoin. Where will Bitcoin go? Will Bitcoin return to $6,000 or will it go lower? We discuss this in today’s Bitcoin update.

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Indian Finance Minister Nirmala Sitharaman spoke about cryptocurrencies at the recent annual meeting of the International Monetary Fund and the World Bank. While there was no hope of regulations coming any time soon, her statement hinted that India is going to closely follow global cues on crypto regulations. This keeps us hopeful about cryptocurrency regulations in India!

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References:

Many countries against rushing into crypto currencies: Nirmala Sitharaman – https://www.business-standard.com/article/pti-stories/many-countries-have-cautioned-on-rushing-into-crypto-currencies-sitharaman-119102000080_1.html

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Full credits for this video to NewsBTC who listed the info in this video on an article on their website:
https://www.newsbtc.com/?s=Ethereum%20Price%20in%20Precarious%20Situation%2C%20Pullback%20Likely%3B%20Here%E2%80%99s%20Why

——–

Crypto tags:

#EthereumNews #CryptoNews

——–

Transcript:

0:00:00 Ethereum Price in Precarious Situation, Pullback Likely; Here’s Why

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:11 After months of lull, Ethereum has entered the consciousness of crypto traders once again, finding its legs for really the first time this year.

0:00:19 Since hitting $170 in early-September, the cryptocurrency has rocketed higher to peak at $225, to then recede to its short-term support at $215 where ETH is trading at today.

0:00:31 This strong upward price action, which comes as Bitcoin has effectively flatlined, hasn’t gone unnoticed.

0:00:37 You see, a defined uptrend in Ethereum, according to analysts, would start what is known as “altseason”, a period in which non-BTC crypto assets flourish.

0:00:47 However, the party may soon come to an end… at least temporarily.

0:00:51 Scott “The Wolf of All Streets” Melker, a prominent trader and disk jockey, recently noted that the ETH charts aren’t looking all too stellar.

0:00:59 In the tweet that can be seen below, Melker noted that Ethereum is trading at “major weekly resistance” on both its USD and BTC charts.

0:01:07 Indeed, as he depicts, ETH has been struggling to move above these resistances, which have acted as historical levels of support and resistance for Ethereum.

0:01:15 $ETH is at major weekly resistance on both the USD and $BTC pairs.

0:01:21 Going to take a hell of a move on both accounts to break through.

0:01:24 This is why I took some profit.

0:01:27 Letting some ride in case alts can break these resistance levels.

0:01:31 That’s not the only technical signal that should be a cause for concern for Ethereum bulls.

0:01:36 According to a Telegram alerts channel that tracks the TD Sequential indicator and how they apply to cryptocurrency trading pairs, the one-day ETH-USD chart recently printed a “sell 9” candle.

0:01:47 Thanks for checking out this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.

——–

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For the most complete data on all crypto currencies check: https://coincheckup.com | The crypto research platform.

Full credits for this video to NewsBTC who listed the info in this video on an article on their website:
https://www.newsbtc.com/?s=Analyst%3A%20Crypto%20Markets%20Likely%20to%20Plummet%2061%25%20Before%20Next%20Bull%20Run%20Begins%3B%20Here%E2%80%99s%20Why

——–

Crypto tags:

#CryptoNews

——–

Transcript:

0:00:00 Analyst: Crypto Markets Likely to Plummet 61% Before Next Bull Run Begins; Here’s Why

0:00:07 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:13 Bitcoin and the aggregated crypto markets have been facing significant downwards pressure over the past couple of days that has led markets to retrace significantly from their recent highs that were set in late-June.

0:00:24 Now, one prominent analyst who predicted Bitcoin’s recent drop is now noting that the aggregated crypto markets could retrace another 61% in the near-future before they reach a price level that sparks the next major bull run.

0:00:37 This bearish price action is simply a continuation of the selling pressure that was first incurred in late-June when the entire crypto markets incurred a significant influx of selling pressure after it parabolically rose to $13,800, which proved to be a highly unsustainable price movement for the crypto.

0:00:54 The aggregated crypto markets have been closely tracking Bitcoin’s price action, which means that most major cryptocurrencies are currently trading down significantly from their monthly and weekly highs.

0:01:05 Satoshi Flipper, a popular cryptocurrency analyst on Twitter, recently noted that the cryptocurrency is currently trading within a wide descending channel that may continue to hold for the coming months.

0:01:15 “Some sideways action wouldn’t be the worst idea,” he concisely said while refencing the below chart.

0:01:21 Could the Markets Soon Face a 61% Retrace?

0:01:25 Importantly, while looking at the overall crypto market capitalization, it does appear that there is a strong possibility that the markets retrace significantly in the coming days and months, and one analyst believes this drop could go as far as 61% before the markets find support.

0:01:40 Thanks for checking this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.

——–

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Day after day, we see bull traps, bottoms being crushed one after another. People are getting desperate for a rebound however it might not come as soon as they might expect. What is generating this bloodbath? Why buyers don’t show up? I will cover that today at 12:30 PM PST

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