Is Crypto Dead 😡 Will Crypto Market Recover or Not..?

[00:00:00]A lot of you guys right now are confused on like what's happening in the crypto market. A quite a large number of people have sold everything and have left the market for good. And some of you, including me, even after all these beatings, we are still here. We are still holding with patience and we still have hope. Okay, now leave all those.

[00:00:18]What's up with Bitcoin and altcoins and will it ever recover again? Should we really keep holding still? So, in this video, I'm going to give you an update on Bitcoins, altcoins, and the bull market. And I'm going to tell you like what's going to happen next market, okay? So, do watch the video without skipping. Okay, guys. Now, before we start, if you're new to this channel, I'm Vasu and you're watching Technovasu.

[00:00:38]Okay, guys. Now, without any further ado, let's get straight into the video.

[00:00:42]Guys, right now, Bitcoin is trading around $60,000 zone. Now, if you go into my Telegram channel, you can see here, I made this post on 11th of May when BTC was at $82,800.

[00:00:54]And I clearly told that on a one-day timeframe, BTC is forming this ascending pattern with the higher highs. And if BTC breaks down, the crash will be the crash intensity will be like very high. Guys, when I made that post, BTC was at $82,800.

[00:01:11]Now, BTC is trading around $60,000 zone, okay? Which is almost $22,000 down.

[00:01:18]Guys, if you think that this $22,000 difference is a huge crash, you'll be shocked on like what I'll tell next.

[00:01:24]Guys, Bitcoin coming down to $40,000 to $50,000 zone is a reality, okay? This will happen sooner or later. Guys, not just this one post, I made a lot of post on my Telegram channel telling that $40,000 to $55,000 zone is a reality. And also, yes, guys, if you want BTC updates and the crypto updates, then do follow me on my Telegram channel. My Telegram channel link will be in the description of this video. Now, guys, if you're looking for a perfect entry for swing BTC trade, long trade, $40,000 to $55,000 range, that will be a perfect entry. Yes, according to me, uh according to the history, maximum uh BTC can played out in the worst case scenario is at $38,000 to $40,000 range. So, guys, I'm waiting for this correction and I'm waiting for this perfect entry to build my BTC long swing trade. And uh previously when Bitcoin came down from a $69,000 to $40,000 zone, I made this video and I suggested you guys a good entry point.

[00:02:22]At that time, I went all in on Bitcoin and I shared a few entry points on my Telegram channel also. If you watch that video, you can see that we literally made a lot of profits. So, this time also we're waiting for that one opportunity for that one life-changing trade. So, when I take those trades, I'll be sharing that on my Telegram channel also. Guys, usually whenever BTC creates a new ATH, the retracement or the pullback on average is at 60 to 80% correction. Previously when a BTC created this ATH around $69,000, the retracement area the retracement was about 80%. This time also we could expect BTC in this range, okay?

[00:03:01]Uh previous ATH $69,000 usually acts as a support, but that has been broken now as if it's not considered only. Guys, my prediction is at $40,000 zone, okay? Sooner or later, it will happen.

[00:03:16]Uh max pain we could expect is around $38,000.

[00:03:21]Once Bitcoin touches this zone, and a reversal will take place. I'm expecting $38,000 is the Bitcoin low in the cycle. Guys, right now the situation that you're in uh is not that motivational, okay? The market keeps on dipping more and more.

[00:03:36]Guys, in the previous cycle when BTC topped at $69,000 and when it later crashed to $14,000 zone, I made this video and I told that that was the low, okay? In that cycle.

[00:03:48]And I urged everyone to get in and I went all in on Bitcoin. And the trades we took at the bottom, we closed at a $60,000 range. Uh but in that video, I also give the prediction like how much BTC price might touch. Guys, you can check that video and confirm, okay? Uh in that video, I told 140k, but BTC topped out at 126k. Guys, this time when BTC taps the 38,000 to 40,000 dollars zone, I'm predicting that BTC will top out in this cycle uh around 180,000 dollars to 240,000 dollars. Somewhere in between that.

[00:04:23]Guys, now what are the factors that's forcing money to flow out of Bitcoin and crypto market? Guys, just on June 2nd alone, uh spot Bitcoin ETFs uh saw around net total outflow of $519 million, and it's not just a one-day outflow, okay? It's marking a 12-days consecutive losing streak. So, continuously every day, money is moving out of Bitcoin ETFs, and not only Bitcoin, Ethereum ETFs also saw about a $90 million in outflow. And you all know war between US, Israel, and Iran, that's also a major reason why the market is so volatile. And also, one more small reason, but a major reason why the market uh is dumping so hard is because because of the news of Michael Saylor selling Bitcoin. Michael Saylor just sold around 32 Bitcoins, and uh these 32 Bitcoins sold Bitcoins will not affect the market in any way, but the news that Michael Saylor sold Bitcoin, uh that created panic in the market, and it dragged the market down. Okay, now, in the short term, like what's going to happen is in the daily time frame, the price got rejected here at this resistance.

[00:05:30]And also, it got rejected here at this 200 SMA. So, the chances of retesting here is very high. So, my guess, uh the price will pump up to this $72,000 range, and from here, it will definitely get rejected, okay? And the next leg down, uh it will be very brutal. Now, if you want to take a short entry, I think this zone is a perfect entry point. So, wait for this to play out, okay? In case if you're looking for an a long entry, uh then this support zone, uh if it holds, then um you can plan your entries here. Previously, this uh it took support here. A lot of long buyers are waiting here. So, I think this zone here will be a good uh uh for going long, okay? If it holds.

[00:06:16]Guys, now if you're like uh seriously worried on Bitcoin crashing, then you should look at uh other assets also. On June 6th, uh about 2.5 trillion dollars was wiped out, okay? The S&P 500 was down 1.65%.

[00:06:29]Gold was down uh 3.38%.

[00:06:32]Silver was down uh 6.9% and the Bitcoin, you all know. And also, US job numbers, expectation was around 88,000. But the numbers that came out was at uh 172,000. And this number, it will impact the global market because uh US alone uh controls about uh roughly 40% of the world's financial markets. And the other major important thing is when will the US Fed cut the interest rates? Guys, this is very important because if the interest rates are down, money will automatically, it will flow into the market. But the problem here is US inflation rate is around 3.8%.

[00:07:08]Uh if the uh Fed has to cut the interest rates, then US inflation should be like it should be less than 2% mark. So, the Fed is not lowering the interest rates, uh crude oil prices are up, and uh wars everywhere. So, looking at all this, the chances of uh Fed lowering the interest rates is actually less, but the chances of increasing uh increasing the interest rates are slightly higher. And one of the other major reason is world's biggest IPOs. So, their expectations is in trillions. So, the money from gold, silver, stock market, crypto, everything is coming out and it's running into these IPOs. So guys, I made it clear like why the markets are bleeding. But separate detailed video, specially on altcoins, I'll share it very soon. And in this rough situation, my suggestion is uh it's better to trade on funded accounts than putting your real money into trading. So guys, my go-to suggestion and uh personally I'm using Coin Trades funded accounts. Here you can see that I'm trading on $100,000 account and $50,000 account. And guys, if you're a beginner and uh if you want to try out and again experience first, then you can go with this $2,000 account which is available for $24.9.

[00:08:18]Uh you can try this and uh you can gain experience first. Now, if you want to create an account on Coin Trades funded accounts, then the link will be in the description of this video. Guys, on my channel, I've already made videos on how to buy and use funded accounts. If you want to watch that video, then the link to that video will be in the description of this video. And guys, right now there's one offer going on, okay? Guys, this offer is from uh June 4th uh to June 15th, okay? You can get 25% off on all these accounts if you use the code UP25. So for example, in case if you're buying this $2,000 account, uh you can click on this uh crypto payment and here uh click on this and enter UP25 and automatically uh the coupon code will be activated. Now guys, in case if you want to one more updated video on Coin Trades and uh if you want me to explain each and everything, then do let me know in the comment section down below. I'll definitely make a video. Okay guys, now please do drop a like on this video and if you're new to this channel, uh consider subscribing. Now, if you're a subscriber, then I'll meet you in the next video. Until then, uh peace.