🚨BITCOIN & CRYPTO CRASH!! IS THE BULL MARKET OVER?

Tony Edward. On your way in, Please at that subscribe button as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please leave a five star rating and review. Folks. I don't want to look at the coin market capitalists, but I have to. It's pretty

rough out there. It's a sea of red, a bloody, bloody market capitalist here with Bitcoin at fifty four twenty five at the time of recording, Etheroreum below three thousand dollars at two thousand, three hundred and fifty six dollars, BnB at four hundred and fifty six dollars, Salona at one hundred and thirty one dollars, XRP at forty eight cents, ton Coin at five dollars and sixty cents Cardono at thirty one cents. Ooh, this is painful to look at. But guys, we got to leave our emotions at the

door and let's look at some facts. Let's see what's happening on the charts and what different metrics are telling us now. The other day I shared with you guys the daily RSI and how you have to read that chart where if it is at seventy or higher, it is an overbought zone and expect a price correction. And likewise, if the RSI is below thirty, it's in an over soul zone and you can expect the bounce in the price. So Bitcoin right now went belowed at thirty on the

daily RSI, so we could see a bound soon. The challenge is Bitcoin has been trying to break upwards for a long time and it's not getting the momentum because there's a variety of different factors which I'm going to touch on, but let me share some other things for context. The stock market is bleeding as well. SMP five hundred, and that's that both of which had RSIs in the seventy zone and higher. Actually they were up to eighties. So these were due for a correction. And when in doubt,

zoom out. We're still at higher highs and higher lows, folks, And that's the important thing, right when in dowed, zoom out. Same thing for bitcoin. There hasn't been any type of major invalidation for the bull market. So I believe number one, we are still in a bullmarket. Now that could change. I'm not saying that it can't ever happen. Anything is possible. The question is always what is the probability. Is it highly probable that we are still in a bullmarket or

is it highly probable that this is it? It's the end. I'd say it's on the highly probable that we are in a bull market, and there's different metrics that are showing that we are still there. So the dx y continues to crash downwards, that's a good sign for risk assets, and like I said, Bitcoin is at that over soul zone, so we can see a bounds pretty soon. In addition,

the market has turned fearful. Bitcoin fear and greed in it is out of twenty six, so this could be a final flesh out before we see a bounce upwards. And for some perspective, guys, look at this. The price of bitcoin trading in August twenty twenty three was twenty nine, two hundred and fifty eight dollars. Right now, obviously it's fifty four thousand. We're still up, So that's my point. Etherorem is still up, Solon is still up, so we have to be patient and let these things play out.

In addition, the pie cycle in top indicator has not crossed yet, guys, and this has been spot on historically, so let's see what happens here. You know, I was tweeting out earlier today that potentially Bitcoin could be playing out like it did in twenty thirteen twenty fourteen. If you go back on the Bitcoin Charity, look at it the twenty thirteen to twenty fourteen cycle. There was a huge spike up, guys, and then a huge correction downwards.

But then bitcoin kept moving sideways and chopping, and then it had some big dumps along the way, and then it did a parabolic move to new all time highs. Something similar could be happening here because we had an incredible run up a very sharp run up with the ETF buying, right, Bitcoin was ahead of schedule. It hit a new all time high before the having So I feel that type of situation is happening here. I could be wrong. Bitcoin, could you know, over the next week

just rally insanely and then disprove that theory. But we have to go with the facts and based on what we're seeing here and try to form a thesis because we don't want to use our emotions. So based on how things have moved historically, that could be playing out here. And this is just some really big cool down after a really big surge with that ETF buying earlier this year. So we'll have to wait and see. But some of the other factors I've been sharing with you guys, and

actually there's some new info here. China's M two money supply just broke out. It's increasing. The other day I shared with you guys the US M too money supplier straight from the Federal Reserves website, and you see here it's back over twenty one trillion dollars as of June. So there's been a lot of liquidity being injected by

the Treasury. Janet Yellen is doing stealth QY quantitative easing two point zero, and I think the Fed is going to have to cut rates, possibly earlier than September, because the markets are tanking. Here. It's an election year, so we've been talking about this for a long time. Any sitting president wants the stock market to look good to

come the election, especially if they're up for reelection. We know the situation is a bit different with Kamala Harris, of course, but the Democrats want to maintain power, so expect that the Fed will be influenced to cut rates sooner than later, especially as we're seeing the job numbers tank and the employment numbers tank as well, So we could see Janet Yellen continue to inject liquidity and the Fed possibly this month come on say we're cutting rates,

which I think the markets will rally off that news. But at the end of the day, though, you know, it's funny how these things all work together, and there's narratives out there, and there's a bunch of analysts highlighting that, for example, there was CME gaps that needed to be filled. So it's funny how these things line up right, and it looks like they're going to be filling. Because Bitcoin went down to fifty four KA, So there it is.

In addition, you know, some other analysts are highlighting that August and September for the most part, are not great performance months. The best performing months are actually October November. And then you know, you do have earlier in the year such as February, March, April, but you know, right now June, the summer. I think I've said it to you guys, people say like sell in May and go away because the summer months is usually not much happening

now love liquidity and so forth. What's also driving a ton of seal pressure is Jump Crypto moves hundreds of millions in crypto as a price slide, so apparently they've been dumping Bitcoin and eth and so forth. Even Ral Palell, macro investor, tweeted out question, does anyone have any further info in the rumor that Jump Trading has been liquidating their crypto for full So I don't know what the hell is going on with Jump, but there's your cell pressure.

There has been some outflow from the bitcoin e tips as well. But what we saw in conjunction with this is that Blackrock was still buying their wallets still showed crypto coming into their respective funds. So guys, at this point, you know what I'm doing, not financial or investment advice. I'm not looking at the price as often. I am taking mental health, sorry, because it sucks to see your portfolio down, even though I'm up from the bear market bottom.

Don't get me wrong, I'm in the profit right now, but it sucks to see these crashes. And this is the volatility that crypto has, but it allows you to make money it once you understand the volatility is your friend. I'm looking for buying opportunities, not financial advice. Please do your own research. Okay, I'm not telling you to go and buy anything, but I'm going to look to load up on some more all coins as they bleed out and get ready for Bitcoin to find it bottom and

then start moving upwards again. Guys, we've seen this story time and time again last summer. In fact, in August there was a big dump as well, if you go back and look at the charts, and it wasn't until October the things started moving. So be prepared, my friends, that this thing could just stay down here and chop sideways before we see a move upwards, and maybe it comes sooner if the FED cuts rates sooner. But just be prepared, guys, and step away, you know, go enjoy

your summer. Right, So that's what I do, so I maintain my mental health when it comes to markets and so forth, because you know, watching too much of this, the bleeding out of your profits, it's not fun. Once again, I'm not worried, I'm not panicking. I'm just I've learned my lesson over the years to not focus on it.

As long as I'm looking at the appropriate metrics and seeing that there are multiple metrics saying we're still in the bullmarket and it hasn't been invalidated, and there are macro factors like money supply and global liquidity that's on the rise, then my mind is at ease, and I'm basing my thesis and my perspective on those facts, not my emotions, not what the headlines say. So, guys, that's my take on it and my hope once again, because bitcoin is hitting that over sould zone that we see

some sort of balance and relief here. But I'm not expecting a surge to new all time eyes unless the Fed Jerome Powell come out and say, hey, we're maybe doing these cuts. We're cutting by one hundred basis points or something. Right, we'll see. I'm just throwing ideas out there, but based once again, based on the facts and different metrics I showed you guys here. I think we're fine. Bull Market still continues, but a lot of volatility similar to what we saw in last summer. All right, guys,

let me know what you think. Leave your thoughts in commons below, hit the thumbs up button. Don't forget to subscribe to my free email newsletter on substack. Also grab a copy of my book Rethinking Crypto and Amazon. Thank you guys for watching and listening. I appreciate you all, and I'll talk to you all later