Bitcoin Dump Confirms Strong Bearish Market

Ajouté : 2026-05-23

[00:00:00]Hey guys, welcome back to the daily crypto market update. BTC closed down in a surprise flash dump 2.67% but more importantly it is now below the daily TBO cloud which means that we used to be strong bullish above the cloud and we fell inside of the cloud which was a change from strong bullish to bearish consolidation and now we're below which means we are strong bearish. Now, if you guys have been paying attention, I've been kind of preparing you for this moment, telling you what I see happening and why I think it's going to be happening and all this blah blah blah blah blah blah blah blah. So, let's talk about a couple of important things first. We have a lot of these um where are they are our shortterm support levels. Now, even though this move down was way faster and way, way deeper than I actually was expecting to have happen on Friday's candle, we still haven't tested the previous pivot bounce, I guess you could say, of this short-term support level here, just below 75K. It's not that far away. And I personally think that once the price of BTC goes below this, which is only.6 from the current price, I mean, from the open candle, it's less than a percent.

[00:01:14]Once we close below that, it's going to do one of these things again. So, now that we've started the snowball, which is turning into an avalanche as it goes deeper and deeper and deeper and deeper, Allah never ending story style with the rock biter. Like, this is going to get worse and worse and worse. Okay, the other thing to consider is our support fan, which lo and behold, BTC fell literally right on that level yesterday on Friday, and it opened right on that level, and it's below that level right now. Given the fact that BTC has fallen a lot faster and harder than I previously was expecting, I actually don't think it's going to necessarily dump over the weekend. But you have to keep in mind where we are now. We already had our two bearish divergences that were closed together. We had a preview of what's coming. And by the way, since back over here, the price has basically returned back down. All the profits that were from this move at the at the end of April, all here in May, up 8% or so, or really 9.35% for May, have all been taken away. So now that we are strong bearish, we should still be expecting the price of BTC to go lower even if it has these little dips and stuff like that as it goes down. Now usually when we see a selloff for BTC, a big red candle like this, like for instance on the 15th of May is -2.44.

[00:02:40]The next day was also -1.2% 8%. Usually we see a continuation when we see a big red candle. Now we also have momentum moving down. To be honest, momentum has still been moving down because the slow line here on the TBO has remained pointing down. I understand that a lot of people were getting really cocky and really excited. And I told you guys like I mean I wasn't expecting BTC to go up as high as it did, but it did.

[00:03:07]So, congrats. Hopefully, if you were in long positions, you were taking profits there. No, I don't think Bitcoin is going to range sideways. Yes, I think Bitcoin is going to be going a lot lower from here. Okay. Um, so that's basically where we are with just the chart and the TV and everything. But with RSI now, we're getting closer and closer to a potential reversal signal, which would be when RSI goes below 25. This will be a uh a bullish RSI reset. So, the last time this happened was actually back over here, really similar actually um to our high on the 14th of January. We saw a pretty big drop about 11 days later to the 25th of January. We were just just a littlest bit oversold, shot back up, and then the end of January absolutely crashed. If you all remember, the fifth of the 5th and 6th of February were the most disastrous days that we've seen in quite a while. I still think that we can see a repeat of that and actually go lower, believe it or not. But we still have a long way to go to even hit 60K. I mean, there's still another what, 20% or so from the current price before we actually see that happen. But inevitably, I do think that's happening.

[00:04:14]The other thing I've been warning you guys about too is the top of the roller coaster here for onbalance volume, which we're now starting to see the moving average here, which was once pointing up very strong bullish, is flattening out.

[00:04:25]And if we continue to see more selling and more red candles, it will definitely start to angle downward, which will be the top of the roller coaster before we start to see things go a lot lower.

[00:04:36]On the 4hour time frame, we also have two more TBO breakdowns right at support. There's a really good chance that we're going to see bearish continuation over the weekend. While I don't expect it to just continue dumping and dumping and dumping over the weekend, mainly because it's going to be well, we also have kind of a funny candle here for Friday with the low according to the CME gap at $75,590.

[00:05:03]So, even if we go lower, we're going to have another gap to the top side, which inevitably will get filled. It's just a matter of when that's going to happen.

[00:05:10]Now, Ethereum is a different story.

[00:05:12]Ethereum is actually much more exciting.

[00:05:15]Um, if you guys have been keeping along or keeping along, keeping track of what I've been talking about, Ethereum has had a very, very good setup for a bare flag for quite a while. our low here on the 6th of February to our higher low on the 24th of February to our high here on the 17th of March. It's a great bare flag. We have higher lows and higher highs back over here about 2,300 or so.

[00:05:39]This is where I decided to open my short position and just keep it open. And now I'm at a nice 12% profit. I'm not taking any profits here. It's going to go a lot lower. This is a very bearish chart. And for all of you that don't know, bare flags, what we do to figure out where it could go is we measure the previous top impulse to the next bottom impulse. So that's the high here on 14th of January at 3402 for Ethereum down to the low on February 6th, which was at 1747. So we take that shape, not the measurement, not the percentage, the shape, and then we superimpose it to the current day's price. And you know what happened yesterday on Friday? Unfortunately for Ethereum, we saw it cross and close below support. This is a big deal. This is a very big bearish deal. Okay. So, what do we do? Well, now that we've closed below, we're expecting two things to happen. The first thing that I'm expecting to happen is for the price to come up and test previously lost support, which will confirm it as resistance. and we go lower with a bottom target right now at 1065.

[00:06:52]So from the current price or basically from here that's still another 48% lower.

[00:06:59]I honestly think that's an easy easy target. Okay. Um in terms of our monthly close forecast u that I spent some time talking about earlier this month, we're still looking pretty good actually. Uh if we look at where is it? Not this one.

[00:07:17]So right now our monthly close forecast said that we were supposed to be closing May around$1843 which from the current price we're halfway there. So it's another 10% drop.

[00:07:27]That should be pretty easy to do. We could also see things go a lot lower a lot faster. Um but I still expect things to go lower. And again, I want to emphasize how awesome the TBO is.

[00:07:37]Because when the prices previously wicked up towards a fast line, when we flip bearish, which we did back over here in October and November, here on the 8th of December, tried to do it, got rejected. Here on the 12th of January and the 19th of January, it pierced the fast line and it got rejected. And we got one, two, three tests, actually two real tests. Uh, one on the 13th of April and the other on the 4th of May. and the price is being rejected yet again. So, no, I don't think Ethereum is going to be bouncing from here. Yes, I expect Ethereum to go a lot lower.

[00:08:11]Now, Ethereum also has um some CME ranges to watch. And yes, I'm also looking forward to the day where we have 24/7 CMEs. That's great. I'm I'm all for it cuz that way we get rid of the gaps and it's totally fine with me. We still have previous gaps that have to get filled. So, for Ethereum and for Salana, there are two pretty wide gaps. Salana's upper gap still hasn't been closed. The totally ES chart like Bitcoin had a very big move yesterday. It fell down 2.71%.

[00:08:37]That's a big drop for this chart. It fell right to support the next support fan line. Very very very suspicious. Not really. That's just how things work. Um but if you're new to this, you're like, "Wait, how is this possible? This is insane. This is I've been doing this for a while." So I kind of this is what I've been expecting and now it's happening.

[00:08:59]Now, in terms of RSI, we are now lower than this previous pivot low from the 20th of March, which is great. The next logical outcome is to see a drop below 25, where we will be very oversold for quite a while. And I expect totally Yes to drop at least down to our previous low, if not lower. It's 20% lower. So, we could see that happen pretty quickly.

[00:09:21]Um, just keep in mind for those of you that still don't believe that's possible, we did see the total ES chart drop from the 29th of January to the 6th of January. It lost 34% basically in 9 days. So, there's no reason why we couldn't fall down, you know, some crazy what was that 20 20 something%.

[00:09:44]Yeah, 19%'s easy considering we just talked about 30 over 30% in 9 days. So, we could go a lot lower. And I actually expect us to. I don't see why we wouldn't to be honest. Um, in terms of our stable coin dominance combined, two big things happened. For starters, it closed about the cloud. So now we are in strong bullish mode for combined stable coin dominance, meaning that we should be expecting more red candles and more pain for the entire crypto space from here on out. Now that we have this confirmation signal that I've been waiting on for quite a while, now we should be watching and waiting for this to not only go up here to 11.844%, but we should be expecting combined stable coin dominance to go up to 13% and beyond. Which will basically hit our my accumulation trigger for crypto. So, we're not there yet. Um, also I want to remind you that this was a great call too that I was sharing with you guys a while ago. We saw a weekly RSI for combined stable coin dominance fall down here just like it did back in 2022. We had one last pierce and it pumped up on the 28th of May. Sorry, 28th of March, excuse me, for one last dump. I think that's where we're finally headed and I'm so glad. I just want to get this over with. I want to get to our final capitulation dump, get on with our lives. That's what I'm waiting for and that's what I think is happening next.

[00:11:06]Bitcoin dominance is working on a TBO close long, which is that blue diamond right there. Um, I made mention of the fact that we're seeing some pretty bearish price action here for Bitcoin dominance. And it's deceiving because others thinks that things are okay. It still looks like the market thinks that things are okay. Actually, yesterday put in a higher wick, which is nuts. But the reality is that Bitcoin dominance is now in bearish consolidation mode, which it hasn't been in a while. Yes, it's still macro bullish, but the problem right now is that we're looking at a very weak chart or a weakening chart. If Bitcoin dominance goes down and combined stable coin com sorry, combined stable coin dominance continues to go up, others is going to get wrecked, which is what I perfectly expect to have happen. Also note lower high confirmed by the way on RSI for others dominance, which is a very bad bearish sign. others just general. The others market cap um also printed a TVL closed long um on Saturday early this morning at 1:00 a.m. my time.

[00:12:09]So that's also a bearish reversal warning. It doesn't necessarily negate these guys. Well, I guess but anyway, it's this is bearish. So that's not really a surprise to me, but this is what this is the outcome I've been waiting for. I just didn't think it would happen like this, especially with basically no news around it, which is really weird. So looking at Tradfy real quick, uh the week is done. So, a lot of these charts are locked and they're not going to be moving. The Dixie has still not closed this gap at 99.516. I do expect it to happen. We have a confirmed TBO open long from Thursday and it's still strong bullish above the cloud.

[00:12:42]The euro is still inching towards short-term support which on Monday will be at 1.156.

[00:12:50]USD JPY. The yen is still pushing up higher and harder with no signs of intervention from the big Japan or Ministry of Finance. just crickets over here. Um the VIX is dropping lower. So actually the S&P is looking just fine.

[00:13:05]It's pushing up higher. Now we have the price recovering pushing up higher. Yet RSI is not able to go even above overbought levels at 70. That's telling.

[00:13:15]That should be very concerning. Okay. I still think that we're going to see a reversal. We still have some major gaps to be filled way down here at 6618 from the current price. That is a drop on S&P of what 11 12%. Um we also saw the Dow Jones chart print a TBO breakout for crying tears and put it it actually put it on new higher high with RSI not even pushing actually went right up perfectly to 70.

[00:13:52]the Nikkeay um on Friday moved up 2.92%.

[00:13:57]So it moved up right to TBR resistance but on falling RSI uh very very very suspicious. The Shanghai Composite has not closed its closed long from Thursday. Um oil fell down and it tagged its support line here, short-term support. Really, really captivating. If this breaks below, I'm going to be very very excited for anyone that's holding that short position open still. I'm not. Um, but hopefully we finally see it drop down a lot lower.

[00:14:27]Uh, and if that peace deal is actually achieved between the US and Iran, oil will fall a lot lower. Um, gold is still macro bearish but performing better than Bitcoin is right now for sure. Um, silver is still in bearish consolidation mode, but above the 1272 fib level and uranium is still kind of holding around 6,50 or so. We have yet to see a bounce form, but I think that it will happen. I think that it will come. Okay. Now, before I get into my picks, I want to direct your attention over to the betterraders.com. Go there. If you haven't taken our courses yet, consider taking 15 minutes of financial freedom.

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[00:16:26]Awesome. So, we're going to go back over here to Trading View. I'm going to get into my picks. And as always, if you guys have coins, if you have stocks, if you have currency pairs you want me to review, leave a comment down below. Make sure to use a dollar sign so I can see that it's a ticker. If it's a stock, please write stock. Uh, if I have to search for it, I'm not going to add it.

[00:16:44]Uh, and if I and if you do all those things, make sure you like the video, subscribe if you haven't, and then consider reposting, retweeting, or resharing this video with your friends and family or on your socials to help me reach my target of hitting 100,000 subs this year. Cool. So let's start first with near which is on an absolute tear.

[00:17:03]Um the last three days moving up 45% yesterday having a really long upper wick almost 11%. Given the fact that RSI moved up to 89.05 we have a TBO breakout. On the breakout it's it's a little bit suspicious I have to say. I mean it's crazy volume crazy price action.

[00:17:26]Wow. Okay. Okay, that's that's a really strong breakout. I don't know if it's going to continue moving up like this.

[00:17:32]It's a very overbought chart right now.

[00:17:35]So, while it could continue to push up higher and harder and it is working on a TBO closure on the weekly, which most likely will hold, we don't want to buy here. We actually want to be buying on the pullback, which is really hard to do considering it's super strong bullish.

[00:17:49]But if we're looking at a very weak BTC right now, which could potentially go a lot lower, while Near could be an escape hatch coin, meaning that Near continues to go up higher while the whole market falls, which is possible. Um, yeah, it it might sting a little bit to miss out on this. Near is one of these coins that I've really been wanting to accumulate, but at a much lower price. It did admittedly fall down here to TBO support back in February on the weekly time frame at 97 cents and it's up 115% from there, but I still think it will drop lower. Um, lighter this one print is in progress of printing a TBT bullish divergence on the weekly, but the more important thing here is that it had a beautiful TBO breakout after a 26% move.

[00:18:33]That's highly suspicious and you can see why. Even though it did pump another 17%, it literally gave it all back. Um, so it's a it also has a very strong bearish engulfing candle on Friday, which is pretty rough. Um, VVV, this one looks like it's about to retrace back into the fast line. Um, after putting in a pretty good move to a new high at just above $20, I think we're going to see a pullback here to the fast line. We'll see. But the chart is still very strong bullish. Now for these guys. Um, Zcash.

[00:19:08]Zcash is Where is it? Oh, that's so weird. I thought I added it. Well, this is the one I wanted to talk about first.

[00:19:16]And I don't know why it's not here. But anyway, Hyperlid, um, as you guys know, shot up quite a bit on Thursday, moving up into this range that I had identified, um, yesterday, which is hilarious. and I said, "Well, I think we're going to see some sort of a move, at least one more scam wick up to that same range, and I think that's a great area for a short."

[00:19:40]That's exactly what I did. I have a nice short position open that I'm going to keep holding open. We'll probably see a little bit more fireworks happening with Hyperlid. I'm so surprised. I thought I added it to today's watch list, but whatever. It's it's here. I'm sharing it with you now.

[00:19:56]But one thing to keep in mind on Hyperliquid, it did have a nice upper wick, but it also printed a bearish engulfing candle on the daily time frame and RSI is no longer overbought. Doesn't mean that it's going to dump right away, but I do think that that's the start of a reversal for Hyperlid. A good target is going to be here on the fast line, another 12% lower, which is at $47. Now, Zcash, which is the other one that I talked about in my video on the Coinb Trading Channel yesterday, also had a pretty sharp pullback of 12%. The last time we saw Zcash do this, it fell back to the fast line here on the 16th of May. I mean, it rallied up another 39% higher. The chart is admittedly still pretty strong bullish. Uh, the slow line is just starting to curl up higher. It is admittedly very strong. It did put in another TBT bearish divergence, which this one is now a cluster, which is that yellow tag. Um, and it's fallen back below this level of previously broken resistance, which is very interesting.

[00:20:54]Um, I still think Zcash is going to be topping out. What's even more interesting is that it literally fell back with RSI to this spaghetti uh spa spaghetti support level. If it breaks this, it's going to be a rough drop for Zcash.

[00:21:12]That's all I'm going to say. Ono. This one printed a pretty long upper wick yesterday up to 47 cents up to where it was previously on the 9th of Mar 9th of May, excuse me, and printed a TBT bearish divergence, which is why these are pink, by the way. These are bearish signs. 2Z um really interesting chart, right? It moved up to pierce overhead resistance on Thursday. Did the same thing on Friday. Not a bearish engulfing candle at all, but that's a pretty amazing short entry. Um I do expect it to fall down here to the fast line um around 9 cents. Uh one thing that that's also interesting is that we're seeing uh we have over here a pretty overbought chart with RSI on Sunday the 10th at 86.92 and on this next big push with a higher high RSI only eaked out at 74.57 and it also went away from being overbought on Friday. It's still quite bullish. Um, it could still push up higher, but I still think that's a really good short entry opportunity given what's happening with the market right now. Binance Life printed a third TBT bearish divergence cluster telling us danger danger danger danger. Like that's that's a big deal. Fartcoin uh had a pretty big reversal of 10% yesterday and also flipped from an open long to an open and short.

[00:22:33]Unfortunately, my long position got stopped out in the green.

[00:22:39]I practiced what I preached, guys. Um, I entered a long position about here, 8.183.

[00:22:44]Took some profit up here, put my stop loss above my take-profit target. So, I had already taken some partial profits, about 30% of my position, and I put my stop loss above my entry. So, yes, on the pullback, I did get stopped out. It doesn't matter because I walked away with profit. That's the exact way to do it. Um H this one after printing a second TBT bearish divergence on Thursday fell yesterday 13%.

[00:23:12]Wow and made a big switch to being in bearish consolidation mode.

[00:23:18]Now some other charts to pay attention to um yesterday it did not pump all the way up here to my target uh at like 306. It did pump though to 293 which is interesting. And more importantly, it printed a TBO close long. So, if you're looking for a short position, you'll want to wait for the price to return back to the fast line, which is at about 278. That's where you take a short position. If you want to be more conservative, you'd want to wait for a a scam pump up here to like 306, 308.

[00:23:47]Stable. Uh, this is one where I actually snoozed. I fell asleep at the wheel even though I just happily shared that I closed my position here in profit for Farcoin. I took a short position on stable at the right place, right time, I was in profit and I didn't protect my profit with stop-loss before I went to bed. And after seeing this TBO close long print at the beginning of the day, what do we got? A scam pump.

[00:24:14]Perfect. So, just got stopped out of my position in a loss. It happens. We don't cry. There's no cry in the casino. We just move on and we go on to the next trade. Pangu Pangu has now printed a TBO closed long on the daily time frame with a 7% drop returning back inside of the cloud. So, it's a pivot or a change to bearish consolidation. Chili's TBO closed long on a pretty nasty 8% drop.

[00:24:39]We are expecting when we see these charts, we are expecting the price to return back up to the fast line. So, for Chile, that's at about 4 cents. This is not a place where we this it's a risky trade to go long here, but you can go long to the fast line. Ideally, you'd want to be treating this as a short entry opportunity because it could also just keep falling lower. We don't know.

[00:25:02]Aerodrome also printed a TBO close long.

[00:25:05]These are not bullish continuation signals. These are all bearish reversal warnings. Morpho, this one um closed red about 2.59% yesterday. It's still technically strong bullish above the cloud. But it's interesting that it's still struggling with overhead resistance. I have a short position open on this. So we'll see if it stays open or not. I'm optimistic that we are going to see a pullback just because of how Bitcoin is looking. But more folk could al also just go and go crazy. Uh render this one wicked all the way up to the TBO fast line on Friday as a high at 2.10 $210 where TB resistance is at $28.

[00:25:44]That is literally hilarious. Wow. And a return back here to support where I'm expecting it to lose this level of support and go a lot lower. Fetch scam pump all the way up 22 cents above the cloud.

[00:26:01]Enough said. Modad um after Thursday's move up here to let me see if I can do this. H I just did something I didn't want to do. What is this? Going. There we go. Oh gosh. going yes delete or as the French say delay um on Thursday it shot all the way up above resistance above the.5 into the fast line and it's interesting to see it get absolutely rejected 8% yesterday so it's a great it's a great short setup I think Monad's going to go a lot lower now on to your picks okay um Crow Kronos fell below support just 2% but remember that we have a confirmed TBO open. Sorry. Yep.

[00:26:45]TBO open short. This pink triangle right here. So, the next logical thing to see are breakdowns. These yellow tags.

[00:26:54]If we see those, we should be expecting Kronos to go down here. This is the next stop, which is TBO, historical TBO support at around 5 cents or basically.

[00:27:04]049.

[00:27:06]Sooie, after having this big fat pump earlier this month, shooting all the way up here to a buck 42, there's a reason why I say, guys, I'm not buying this stuff. I know it looks juicy. I know it looks fun, but it's just not the time. I'm not looking at accumulating yet. I'm still waiting for Bitcoin to have that final flush. That's my real signal to do that. So, yesterday had a pretty defeating candle. Uh, down 6%, still in bearish consolidation mode.

[00:27:32]H bar confirmed a TBO open short on Thursday, fell lower on Friday, not that much lower, but it's looking quite weak and it looks like it's going to be printing some TBO breakdowns. And we have support down here, 18% lower at 007. Um, Guay ETH gas is in bearish consolidation. Interesting move dropping 10 basically 11% on Thursday. It's still here inside of the cloud. No other bearish reversal signals other than lots of these TBT bearish divergences. In terms of RSI though, big drop, huge high on the 21st of April, 93.71.

[00:28:09]Then we have a much lower high on the 15th of May, 79.92, with lower lows. So now that we've hit this lower low, we should be seeing a pretty good reversal bounce up higher, but it's looking weak. There's a good chance that ETH gas, ETH gas is going to be going a lot lower from here. Onyxcoin is about to fully retrace back all the way here to TBO support at 0.00453. Good riddance. I think this one's going to be going a lot lower. Also has a confirmed TBO uh open short. So, if you are of the risk-taking type and you think that Bitcoin dropping down to 60K won't happen, then there's a potential that it could pump again.

[00:28:50]But just keep in mind that we also witnessed Onyxcoin for a very long time over here. Uh even though it had a pump and it shot up 200% from this level at 0.0826 once it hit this short-term bounce and then it absolutely crumbled another 50% lower. Um Onyxcoin would be the most interesting to buy or accumulate here at support which is a lot lower. Um and last but not least um ADA uh stock. We have a TBO closed long on the daily time frame. It looks like the price is springing back up to tag the fast light. It's in bearish consolidation. The macro slow sorry the macro trend is very bullish. The soul line's moving up higher. RSI is putting in a very clear pattern. Lower highs and lower lows. So on the next push up to the fast line most likely will fall deeper. It will fall down a lot more. On the weekly time frame, it's no longer bullish at all after being super strong bullish at 94.42 on the weekly. huge drop and TBT bearish diversions up there marking the top as well on the weekly.

[00:29:54]So, a good bounce target could be the fast line, but ultimately I think down here makes more sense around 1735.

[00:30:03]Cool. Okay, so I want you guys to make sure that if you missed out on this week, if you missed out on the rally that happened, if you missed out on all my warnings about Bitcoin going below the cloud, you need to turn on notifications. Okay, last week I shared also a video, a very timely video about trading with margin or leverage on the Kraken exchange. You're going to want to rewatch that video now and also use the link to sign up down below for that.

[00:30:29]Okay, and until the next time, you know what to do. Stay awesome and stay in the green. Peace.