CARDANO ADA - Uncertainty Here Again... Crypto At Crucial Level! Very Important Weekend!

[00:00:00]Well, here we go again. Uh questions and uncertainty headed into a 3-day weekend.

[00:00:06]How many times have we talked about that exact same thing? Well, with some of the news we got late yesterday, that is exactly what we're doing again. Um I do want to go through go through a bit of this news cuz this does call into question what the coming weeks are going to look like. I do not like the way that BTC is set up right now headed into this weekend, which we will have a discussion about as well. So again, if you're new or haven't already, make sure you like, comment, subscribe, show your support for the channel down below. But let's dive into the charts here because ADA is at about 16 cents at the time of filming this video. So obviously down from yesterday, we did finish yesterday with a red day along with pretty much everything else in the crypto market, which means that right now we're dealing with five straight days of red, uh basically erasing all the gains that we had over last week, which is definitely disappointing because last week we made some serious headway. Unfortunately, with the the way that the winds have shifted this week between the Bank of Japan rate decision, uh between the the lack of, you know, forward forward guidance uh in terms of the Fed in the middle of the week, and now these new potential changes new potential to Well, I guess there are some changes. Uh we just are are not getting out of our way this weekend.

[00:01:19]Unfortunately, what we're dealing with a lot of is leverage liquidations, and I'll get to this more in just a moment, but where this has brought us to is BTC again getting that rejection off of its 20-day moving average and testing 62K and testing that 200-week moving average like we talked about. So this is kind of the moment of truth. I'm not going to title that this video that, but this is BTC for the third straight week testing this 200-week moving average. So this is pretty big. We got to hold this. We got to close above here. And of course, this is now headed into a 3-day weekend because yes, today is Juneteenth. Uh Uh, the stock market is closed. A lot of times these long weekends, uh, they can bring instability to the market. They come with lower volume, they come with thinner liquidity, they come with higher manipulation. And unfortunately, the way that this week has, you know, headed into the weekend is not a is not in a good way, okay? Now, why I'm saying that is [clears throat] take a look at BTC here in terms of leverage. Uh, we saw a bunch of longs liquidated yesterday morning. Just to show everybody here, $367 million worth of longs liquidated over the last 24 hours.

[00:02:28]There is still long leverage stacked up here at about 62K. That is a level that, you know, we've obviously been monitoring very closely in our charts.

[00:02:36]It's a level that leverage traders are feeling pretty comfortable and confident with. And unfortunately, if things continue down this path as we head through the weekend, we could see prices below that 62K. We could see us below that 200-week moving average, which is not what we want. Now, let's talk about this news because this was a bit of a surprise yesterday, especially after, you know, reports came out earlier in the week of the same thing taking place, and it didn't stall signing, it didn't stall negotiations. So, Iran has reportedly suspended its 60-day negotiation process with the US following what is described as a violation of the agreement's first clause after Israeli strikes in southern Lebanon. Iran reportedly canceled its trip to Switzerland for the first round of talks and says negotiations will remain paused until it is assured the attacks have stopped and commitments are being upheld. So, I I do find this very surprising because they did the digital signing last weekend.

[00:03:34]And then we know that on It was either Monday or Tuesday, uh, there were Israeli strikes in Lebanon. And it didn't slow down or stop the the actual hard copy signing, which took place, I think it was yesterday, either yesterday or the day before. Um, but so it's kind of weird that this is taking place now after all this progress has been made over the course of the week after the Strait of Hormuz has been opened up etc. etc. right? But again this caused a lot of uncertainty it caused oil prices to rise back up it caused crypto to to continue [clears throat] to drop it caused us to liquidate some some longs on the way down right? Now it's even come [clears throat] out that JD Vance has canceled his flight to Switzerland for the first round of talks with Iran as well so there are definitely questions about a potential um breakdown in these negotiations. Now that being said it has come out that Iran demands Israeli attacks on Lebanon to end before resuming talks with the US. So this isn't necessarily dead in the water it's just at again another point of uncertainty and we know that markets hate uncertainty. We've dealt with way too much PTSD and this more so is directly aimed at the crypto market because the PTSD seems to linger around crypto more than others because again we're an immature market. Um but yeah that that's not the way that we wanted to head into the weekend not with BTC on the edge of a major zone on the end or on the edge of a major trend. Like we've talked about if BTC can't hold these ranges you know 56 55 57k are kind of in in the zone of where we could head to hopefully that's not going to be the case. Uh but yeah that that's kind of where we're at this is dragging everything down. I have to say right now ADA I know a lot of people are trying to beat up on ADA right now. We haven't really seen a lot of downside since that initial drop two weeks ago since the big cardano flood rolled out since there were ecosystem questions. You know we've been pretty pretty stable we've just been following what BTC and the rest of the crypto market is doing. So there's just a there's a high correlation there right now everybody's looking for BTC to set the direction and BTC's just not really doing a whole lot right now. It's trying to again make this major confirmation like we've talked about.

[00:05:50]It's trying to figure out, "Hey, are we going to follow what we've done historically speaking or we are going to or are we going to do something just a little bit different?" So, we have many questions headed into the weekend. It's a long one. Buckle up. There might be a lot of volatility before it's all said and done. So, I appreciate you guys. I hope you enjoyed the video. Let me know your thoughts below. What do you think we're going to get this weekend? Will talks resume? Will we find finally see this this, you know, um skirting of the the memorandum of understanding uh be ended? But, have a great day. Share your love below. Catch you guys in the next one. Take care.