FREE FALL!! BITCOIN CONTINUES ITS PLUNGE – WHAT IS NEXT?? COULD THIS BE REAL??

by birtanpublished on September 29, 2020

Wow it looks as though all TA has
absolutely flown out the window guys
this is absolutely huge when we've been
mentioning a huge event a cataclysmic
event in the traditional markets
affecting Bitcoin this is what we meant
but even this is a little too crazy I
have not seen a dump this massive since
I ruined that birthday party at Chucky
Cheese I apologize it must have been all
the macaroni soup guys this is huge in
this video we're gonna primarily be
talking about what this entails for
cryptocurrency
we're gonna be looking at some targets
but guys we got to be honest some of the
TA just absolutely flies out the window
in verse head and shoulders destroyed
this market structure align destroyed
this previous line destroyed the 200
weekly moving average destroyed so we
have to talk about some of this in this
update this is no laughing matter
but sometimes you just need to laugh to
keep yourself from crying guys let's get
into the news Wow what's going on thank
you so much for joining me here in this
urgent emergency absolutely catastrophic
episode of Bitcoin today we see carnage
across the board you guys I woke up
Bitcoin was down about $2,000 now it's
down over 1,500 more from when I woke up
Bitcoin going from right about 8,000 US
dollars to as I film this video about
4700 u.s. dollars however we don't
necessarily know if that's gonna be the
price by the time this video gets
uploaded it's gonna take at least 45
minutes to an hour and by then the price
most likely will be either thousands of
dollars below or above that with that
being said we've been tweeting all day
okay Twitter so easy it does not take
about two hours to get a video out like
it does on here takes about a minute or
two so we've been updating on Twitter so
guys if you know on Twitter make sure to
give me a file over there we do very
quick updates there and as well every
one we will be doing a giveaway for this
ledger in the next video so if you guys
are new make sure to leave a like
subscribe turn ons post on vacations and
leave a comment below to enter for this
ledger next video we usually take
Friday's off from videos so I'm not
necessarily sure if Italy tomorrow if
it's not tomorrow then it'll be Saturday
and hopefully by Saturday Bitcoin will
still be alive and guys before we really
jump into a lot of things I want to say
this as well this is very pretty much
not even related to Bitcoin Bitcoin
falling is again a factor it is a
byproduct of the entire economy all of
the fears going around in the world the
entire economy looks absolutely horrible
ok this is the Dow Jones look at this
you guys
yesterday's closed about 23 we're over
at 2000 basically points below that at
today's close and they even had to halt
trading on this ok
there's no doubt in my mind this is
gonna continue to go down go down look
at this at the end of 2018 there is a
substantial drop this has already
dropped below that after being
significantly above that before I start
guys this is clearly a different beast
now one of the reasons I think this is
so impactful and will be more and more
impactful is because what is happening
with the fears of this illness as well
as that it's shutting down businesses
baseball games basketball games all kind
of games all kind of gatherings all kind
of events music festivals everything is
being canceled celebrities are now guys
it's just pretty much the perfect storm
it is the biggest Black Swan event now
with all of that negative news being
said i 100% big think bitcoin is not
going to die ok in fact this is not
financial advice and I do not
necessarily recommend you do this but I
actually did pick up some cryptocurrency
about an hour ago something about
watching Bitcoin fall you know like
about $1,000 right in front of my face
made me want to to buy some
cryptocurrency after already being down
about three thousand dollars today so
when it comes to tea a in this episode
as well it's going to be very light on
tea a because it is pretty impossible to
do any tea a while this is happening and
guys we also have to realize that with
all of these things going on this Black
Swan event taa is almost a little
useless however the one thing I will say
is that it is very important that we at
least hold this that we at least hold
it's not asking for much but the three
thousand dollar level the lows back then
as long as we maintain that there is
least at least some semblance of market
structure we want to see potentially a
daily close above here guys or the very
least a weekly close we only have a few
more days until we actually can get a
weekly close so hopefully we can get
that at least above the 200 so again
this 200 weekly moving average is
absolutely key and then this previous
low of around $3,000 is absolute key
basically we don't have anything else
from a technical perspective to look at
guys we have smashed through this line
as of the past week we've smashed
through the 200 weekly moving average we
have smashed through the
market structure line over the past five
years absolutely destroyed it we've
smashed it a $6,500 level of seeming
support on the VP VR should have been
pretty significant support just smash
through that and guys that's what I mean
when technical analysis kind of thrown
out the window temporarily
I definitely think within the next few
days it'll be a lot different and more
manageable but as of right now there's
really nothing we can do except watch
this free fall I'm actually thankful and
surprised that the exchanges that I buy
cryptocurrency on have not shut down
just yet I was kind of expecting that
usually that's what happens when
significant events like this do happen
so one thing we can talk about here as
well this potential falling wedge okay
we're talk about this descending
broadening wedge here it did actually
break out and you can see as I came to
here you see it it's it held on there
for multiple hours and then as soon as
it broke that it dropped from 73 all the
way down to 5,800 okay over about
fifteen hundred dollars in a single
hourly candle after a broke out of this
this is absolutely massive so even
though these do usually break upwards
about 75% of the time there is 25
percent of the time where it breaks
downward and this perfect storm of the
economy this Black Swan event everything
going wrong going on around the globe is
the perfect time for this to actually
not obey the rules and break down the
other way this inverse head and shoulder
actually completely destroyed as well
you see it actually break through so
many key things the 0.786
absolutely got demolished and actually I
can pull this out I was watching this on
this chart and if we take from let me do
this here live on the on the video if we
take the swing from the high okay back
in 2013 $1100 and we take it to here the
high of 2017 2018 the 2020 K level that
puts the point 786 right here about the
5125 level and we smashed past that in
the last 45 minutes as well so even that
is destroyed so again guys basically the
only structures we haven't broken
through right now are breaking below
previous lows of about 3000 and I'm
pretty sure that's it I think that's
like the only thing we haven't broken
through yet now guys make no doubt about
it I definitely think this is not
looking very good I don't see any end in
sight for this to continue going down
this could get really ugly over the next
few weeks and I do think it will turn
around and I do
bitcoin will have some more of a
safe-haven property in the future but
not yet okay definitely not yet
definitely not in the next few weeks
it's just absolutely getting annihilated
so some things I want to talk about here
the stock to flow here we have it right
here by Plan B actually still looks
pretty good this is actually kind of
older but he did update this this is
still looking good it's still actually a
normal level there so that's one thing
that we see that's like at least
somewhat optimistic they're optimistic
there this is this is true right here 71
to 5500 in a single 30-minute candle
okay over 1,500 dollars in 30 minutes
that's huge so I tweeted this 9 hours
ago I knew that economic situation would
impact BTC but this fast and this soon
is absolutely unbelievable now if we
skip ahead to more recent tweets this
actually got a lot crazier as of the
past hour ok literally things have been
plummeting it's almost as if there's a
gap it like $500 before the CMA was even
created or something ridiculous that's
really just trying to push this under
there so guys without a doubt and
absolute bloodshed but I do want to come
on and just kind of give you again this
video in my opinion I'm honestly I don't
think I'm giving much value but it's
just because I'm a little shell-shocked
I'm honestly just a little I'm honestly
like all of you surprised as well I did
not think that yesterday when Bitcoin
was trading you know above 7,000 US
dollars I did not think that by the end
of the next day we would be in the
$4,000 range and I don't think many
people thought that even people that are
calling for 1,000 I don't necessarily
think they would see they were expecting
over a three thousand dollar drop in in
less than like 12 hours absolutely
shocking I believe to everyone involved
but again I think a bigger question is
without Bitcoin I think this is again I
think this is much bigger than Bitcoin
right now so I'm just curious what
everyone out there thinks about the
economy in general what does everyone's
opinions on everything because again
this is unfortunately have it heavily
based and heavily influenced by the
broader economy right now and everything
going on in the world there's some very
serious things going on and actually
just looking at this chart here guys
this looks like the 3000 $4000 level
there we have to hold for any sort of a
structure it looks like there's some
fair resistance and support here on the
vpv are you can see that but again you
could see that here as well earlier
today as we smashed through the 64 and
6500
okay almost like it was nothing just
sliced right through it so definitely
let me know what you guys think
make sure enter for that giveaway below
and guys for anybody interested in the
course guys it is still insanely cheap
Wow I cannot wait till these go up a
little bit so you know people are in
better moods and everything but yeah
this is absolutely bonkers

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