Crypto Liquidations and the BIG Opportunity!

hey everyone boyo boy we've got a few

things to talk about in this video first

we're going to talk about turkey then

we're going to talk about liquidations

then we're going to talk about what i

did with my crypto portfolio uh those of

you in the stocks in psychology of money

group already know what i did and what

i'm doing now because you get buy sell

alerts every time black friday is today

which doesn't mean there's a black

friday coupon code for the programs i'm

building your wealth expiring down below

but folks let's first talk about

turkey and the lira first of all so

turkey has a currency it's called the

lira in well this year it has lost 40

percent of its value and on tuesday it

lost 15 percent of its value in one day

and so far today not looking good either

it's losing more of its value why

because the president of turkey

is fighting

inflation at 20 percent

and in his response

to fighting inflation he is

overriding what the central bank is

trying to do and he is reducing interest

rates yes usually we raise interest

rates to combat high inflation think

about what paul volcker did painfully

raised interest rates hurt the economy

beat us and drug us through a nasty

recession but finally got us out of high

inflation that's why we have so many

fears today that if inflation continues

we're going to go through the same kind

of painful recession thanks to

inflation interest rates going up

however turkey thinks that no that's

not what we're going to do we're just

going to do whatever we want we're

independent we're going to

lower interest rates which is now

stoking fears of more inflation

and making the case that maybe a country

like turkey should finally adopt bitcoin

because obviously

they're not capable of handling their

own currency

now the only country so far to in full

adopt a cryptocurrency has been el

salvador el salvador has a mark well a

gdp an annual gross domestic product of

around 25 billion dollars turkey while

its gdp has been declining since about

2013 does have a gdp that is in excess

of 30 times the size of el salvador

it's unlikely that with the existing

president we'll see any kind of rotation

to a cryptocurrency but there's a lot of

speculation that hey you know what if we

get a different president in turkey or

uh you know we just look at turkey as an

a perfect case example as to why uh

certain countries should not be having

their own currencies uh then then

obviously um bitcoin looks very

appetizing

but anyway so that gives us a little bit

of background on what's going on with

turkey it is actually a reason to be

bullish for crypto but now we're going

to talk a little bit about liquidations

and we're going to talk about what's

going on in my portfolio

where as uh the australians on tick tock

say my part harleer

sorry it's a great tick tock try to find

that australian portfolio they write it

like that it's great uh anyway if you've

seen it you get it if you haven't you

think i'm a which

some people think anyway which is fine

that's okay i mean some people say i'm a

clown all i need is a red nose and then

i'm a clown okay so anyway let's go

ahead and look at the liquidations

really quickly here so obviously

we're seeing some liquidations uh by the

way we're now getting a rebranding to

coinglass.com

that's because a lot of people were

calling this bibit uh biped i mean there

were there were so many millions of

different variations for how people were

pronouncing this bipped whatever you

name it doesn't matter now they're going

with something simple coinglass.com

but anyway

take a look at this we've clearly got a

liquidation spike here uh the last time

we had an extremely large one was

obviously back in september but if we go

ahead and zoom in a little bit more here

we can see that relative to

uh october and november we are october

we had about eight ten million in

liquidations we had a spike here about

783 right now we're sitting about 640

million in liquidations for bitcoin

that's just bitcoin so a definitely

substantial amount of liquidations

doesn't surprise me since a lot of folks

are in crypto in their triple 5x 10x

leverage so you get a drawdown of about

10

in the price of bitcoin in a short

period of time you're you're going to

see some pain pretty quickly we're only

about 5.9 percent down on the seven day

here however

we we have drawn down from all-time

highs at about 69 000 dropped down to

about 63 then hit 60. sat at that 58 000

support this is where i regularly

mentioned folks our next stopping point

is 54 000. somewhere between 54 354 5500

is where the support line sits and folks

it's no surprise it's literally where

we're sitting right now and it's where

we've been bouncing now the next one

after this is 47 000. so i'm not going

all in yet but i'm definitely watching

these support lines because folks if you

don't know basic ta you probably

shouldn't be trading crypto you should

just probably be buying and hodling but

uh i want to make a little bit of a

reveal about my portfolio

uh i did about two or three weeks ago

and those of you in the stocks and

psychology of money group know this

there is a black friday coupon code

expiring on this of course those of you

who are inside already know this i did

sell all of my crypto now i know that

sounds paper handy and it's not

something you want to lead with because

like oh my gosh how could you but i sold

at a higher price at much higher price

than we are now so i'm actually very

happy with my move uh same thing with

cardano i i sold that much closer to two

dollars like 196 or something like that

uh and uh and i'd gotten in

substantially around about 106 on

cardano so so great moves uh it doesn't

mean i'm always perfect but uh i was

really starting to see the writing on

the wall that we could have a catalyst

shift down to about 54 000 uh that

support line 54 300 in bitcoin and

that's literally where we're sitting

right now so since that was my plan and

the plan i had written down i am now

rebuilding my portfolio i have already

bought back into bitcoin substantially

over uh over half a million dollars

right back into bitcoin i'm now looking

at uh adding to some of the olds i'd

like to see a little bit more of a

discount on ethereum i'd really like to

see some pain push ethereum under a 4

000. really strong resistance of

ethereum at 4 000. i am wiring more

money over to coinbase to try to avoid

paying fees over at voyager digital

where my money has been chinese

handcuffed which i'm very upset about

voyager digital only allowing me to

transfer 25 000 a day which i understand

that sounds like a first world problem

but when you have 800 thousand dollars

in voyager and you're trying to use it

to trade but the fees are excessive and

ridiculous you get a little frustrated

uh but anyway maybe i shouldn't call

them excessive that implies that i've

researched all the other fees but then

again look you compare to coinbase

coinbase is cheaper

folks and i know i like i shouldn't even

say it but i'm just gonna say

in my opinion

based on the research that i've done the

lowest fees are still robinhood but you

know not not my key not my coin you know

you can't transfer yet uh they're super

slow at doing wallet transfers customer

service leave something we desired i got

some work to do

not saying that coinbase's service is

necessarily much more stable but anyway

uh another thing that i want to do is i

want to build up a little bit of the alt

so i'm really looking into polygon a

solana cardano i'm trying to evaluate

how much i really care about this etoro

thing it's one of the smaller exchanges

it honestly it makes virtually no

difference

not a not really

major fun that i care about so 16

decline in cardano

not

i mean to me a little bit of a buying

opportunity there are a lot of folks

referring to iota suggesting that they

want to go to iota instead of cardano uh

just tracking social media trends

another thing that i am noticing is a

little bit of a sell down or pausing and

enthusiasm for the metaverse take a look

at decentraland down about 6.9 percent

axi down about 9.98 i do

still have axi teams though

about i put about a forty thousand

dollars into axi teams here uh in a

partnership so that's pretty exciting to

see that develop

no uh sandbox was actually down more

this morning

looks like it's rebounded a little bit

because we do have that sandbox release

coming up which could be a really big

buy the rumor sell the news

i don't think it'll be a rug pull but

there's always that risk we'll see what

kind of game or alpha ends up getting

delivered but obviously sandbox not here

look sandbox.game if you want to learn

more i highly recommend at least to sign

up for the um

for the release i i'm personally not

buying land i might go see what the

alpha passes are selling for on the

secondary market but beyond that it

doesn't matter too much those are going

to be an nft that you'll need to be able

to get access to the game

uh beyond that i i do want to build out

the alt portfolio a little bit more and

i have this beautiful opportunity to do

so now because everything is having a

black friday sale so i'm exploring this

a little bit i'll be sending alerts

every time i do make a transaction in

bitcoin but for me this is a great buy

the dip opportunity i think we're

excessively depressed here on crypto

because of liquidations i don't expect

like usually when we have a big

liquidations day we do not have big

liquidations that follow like this is

even rarer over here that we had larger

candlesticks uh after

uh or

not really candlesticks more bar charts

right bar

sticks

whatever

point is uh we're going to do a quick

little ta here on btc and ethereum then

i got to run to the course member live

stream which remember there's a coupon

code for expiring for that today

at 11 59 pm but uh yeah go ahead and

take a look here if we just zoom out for

a moment to the one hour this line that

i've had here at a 40 at the 40 uh 54

300

you can watch my videos it's literally

been sitting here for months this is

what my expectation was it's not a

surprise this is exactly where we went

uh i believe we're going to stabilize

here since i think the worst of the

liquidations is behind us and we do have

the next very strong support line of 47

000

which i don't really think we're going

to get to in this particular cycle here

i think there would have to be a whole

lot more of a risk off movement

the uh

ethereum is there's no surprise here i

mean we are sitting very strong at 4

000. uh very very strong resistance

uh when we're below it very strong

support when we're above it then uh of

course we have uh let's let's do a quick

little look at shebe here

shebe technically we are so we drew a

fibonacci on this

fibonaccis are not ideal for trying to

find the best and most high quality

support and resistance levels but they

are useful when you don't have a lot of

evidence to go off of and honestly it

hasn't done bad we drew the fibonacci

pretty early and it held firm at 61.8

percent uh it did hold pretty well at

38.2

it briefly bounced off of the 50

so the fib's been working quite well we

channeled between the 50 and the 38.2

channeled here then we channel i mean

look at this then we channeled between

the 38.2 and the 23.6 uh and now we're

kind of playing the uh the 23 6 as a

resistance level uh

this has been a little bit of a rough

sell down but honestly i mean looking

here in hindsight the fibonacci has has

been something we i mean that has been

pretty dang accurate so pretty

impressive clearly a lot of people using

the fibonacci which remember the more

people are using it the more effective

it becomes so this is a little bit of a

crypto update i really appreciate you

being here thank you so very much for

watching this if you found this helpful

consider sharing and subscribing we'll

see what happens with turkey pay

attention to that one it's actually good

for crypto in my opinion because it

shows the failure of fiat on how we can

all develop and folks

we'll see you in the next one thanks so

much for being here goodbye