THIS CHANGES EVERYTHING FOR BITCOIN.. BIG MOVE THIS WEDNESDAY!

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00:00guys we just had some groundbreaking developments when it comes to the next major move in the market

00:07that is apart from the pullback you're seeing right now for bitcoin i will talk about this as

00:12well but guys very important stuff happening ahead of the fomc meeting that is happening in just one

00:19day and 15 hours so make sure to watch this video from the beginning until the end i will go over

00:25everything i see happening in the short term here so welcome back everybody my name is chris

00:30bringing you cryptocurrency videos every day teaching you how to make money in this market

00:33if you're new to the channel then make sure to subscribe and activate the bell right now

00:37so let's get straight into it guys and you can see that we had another pullback yesterday

00:42and like clockwork the orange box is holding up the bitcoin price right here so on the four

00:49you can see one two three four candles inside of the orange box here so this is a key level

00:57of support for bitcoin guys if we zoom out you can see that the little bit of a trend we had

01:04right here so we're trying to establish a trend towards the upside however that one got rejected

01:10at 61 000 and since then we have had another equal low right here equal as the low right here

01:19so we haven't made a new higher low instead we're making an equal low so the trend the bullish trend

01:25we had on the short term is starting to fade out a little bit now the question is are we going to

01:31consolidate in this range get more powder dry powder and then explode towards the upside or

01:38are we going to break down from this point and revisit potentially 55 000 or even 51 000 now

01:46if we look at the longer term trend line right here you can see that we are below this one

01:52currently so this is a key trend line which you already know is very important but if you look at

01:59the traditional markets and what they are doing right now you can see that we were talking about

02:03yesterday this trend line right here and look at this we saw the futures market open for the

02:09traditional markets and immediately we had a gap up why is this because we closed the trading on

02:16sunday and when we opened up on monday which is actually tuesday in my current time zone

02:21you can see that we gapped up and we saw this go towards the upside so the traditional markets

02:26are actually doing really really well right now still we are very close to a new all-time high

02:32so this is very nice to see this makes me believe that on the balance of probabilities i still think

02:38that there's a good chance that this level is going to hold but of course we need to be prepared

02:43for anything here but yeah if we do see this go down i do like i'm saying all the time i do believe

02:50that any dip here is made for buying as we go into the next phase of what i believe is going to be

02:56explosive moves towards the upside for bitcoin now another thing that we need to talk about is

03:02ethereum because if you look at ethereum to bitcoin we just broke down from this very

03:07important trend line right here and in fact right now the sentiment for ethereum is really really

03:12bad and yeah there's a lot of people right now calling for ethereum to be dead that is never

03:19going to recover now this is something that we have seen in previous markets as well we've seen

03:26ethereum being called dead we've seen ethereum being declared a dead chain and that is never

03:32going to recover in terms of the price when that usually happens when the sentiment is as bad as

03:38it is right now usually you do see significant upside in fact not only that but ethereum's

03:44futures market shows the lowest funding rates of 2024 recently the 50-day moving average of

03:50ethereum funding rates has been on a consistent downtrend reaching its lowest level in 2024 so

03:56the sentiment for ethereum is completely wrecked and everyone are calling for ethereum as a dead

04:03project as a dead chain of course we know that that is not the case ethereum is going to recover

04:08ethereum is going to do well in this bull market in fact just like i said when we usually see stuff

04:13like this happen it usually does mean that we are if not at but very close to the bottom so

04:19in 2019 compared to 2024 the ethereum to bitcoin chart bottom shortly after the first rate cut in

04:272019 so um we know that we're gonna see rate cuts happening on wednesday so maybe you're gonna see

04:35the same thing repeat here where you see ethereum start to go up after that compared to bitcoin

04:40not necessarily compared to usd but that is most likely gonna follow shortly thereafter now i want

04:45to talk about something that came out of the blue yesterday so elizabeth warren and other democratic

04:50senators are now urging the fed to cut interest rates by 0.75 basis points on wednesday or 75

04:59basis points 0.75 percent now this came out of the blue and this honestly would explain why

05:06recently we've been seeing the probability for a 0.5 rate cut increasing it's currently at 67

05:14percent so this has been increasing steadily the last few days currently at 67 just like i said

05:20now even though elizabeth warren and these other senators came out and why are they urging for this

05:26while they're saying that the fed needs to do this in order to essentially save the economy

05:30and get us out of a recession so they're calling for a 0.75 basis point rate cut however the market

05:37is not pricing that in so if that actually were to happen this would be the x factor this would

05:43completely take the market by surprise now i don't think that this is going to happen i do

05:48think that 0.5 is maybe the more likely scenario well my base case is 0.25 so that is what i still

05:57believe only 33 percent believes that that's going to be the case more people believe that it's going

06:02to be 0.5 so just be prepared for the volatility guys if we only see 0.25 then potentially you're

06:10gonna see the market being disappointed and the bitcoin price and the prices of the traditional

06:15markets going down as well that's why i'm saying be careful with leverage be careful with the

06:20volatility on wednesday but surviving that i do think that bitcoin is in for a nice period i do

06:26not think that we're gonna go sideways for another half a year as we've seen for bitcoin recently so

06:32we will see about that and also guys don't forget if you want to get the best deposit bonuses

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06:59kyc so make sure to sign up using this link right here as well that's what i got for you today guys

07:04thank you so much for watching this video and i will see you guys in the next one

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