Why is Crypto Falling.

everyone kevin here so cryptocurrencies

are starting to fall and a lot of folks

are wondering wait a minute what's

happening why are cryptocurrencies

falling well in this video i'm going to

take a stab at addressing why i believe

cryptocurrencies are falling but first

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medkevin.combf okay let's take a look at

uh some background here so we just this

week had peak potential short-term media

for

cryptocurrencies why and what does that

mean well

up until about a week ago we haven't had

much mainstream discussion for

cryptocurrency in mainstream tv fox cnbc

local news stations cryptocurrencies

just weren't super mainstream up until

recently and they have been before it

comes and goes in cycles right up until

recently though because of the launch of

the bitcoin futures etf my expectation

and i have not looked yet but my

expectation is that cryptocurrency

related searches are probably starting

to slow

and we know that 70 of trading in

bitcoin is done by institutions and when

cryptocurrency or the cryptocurrency

bitcoin falls others tend to follow down

and we also know that institutions like

to trade trends also known as social

momentum so when social momentum slows

prices can tend to fall as traders move

to other opportunities and this is where

what we're going to do is we're going to

look at trends and we'll look at we'll

do a little bit of ta to see where we

might fall to then we look at well wait

a minute where might the money actually

be flowing to so let's take a look if i

type in just bitcoin in google trends

what we're really going to want to look

for is something within the last 30 days

here last 30 days we've got a good

increase here all the way through the

19th so we actually don't have the last

three days of data on the 30 day so

we're gonna have to go down to the seven

day and here on the seven day

you can kind of get a feeling that on

wednesday when we really went wednesday

morning likely when we spent a lot of

time talking about that bitcoin futures

etf we got peak searches

yesterday we were yesterday around the

morning we we were about 20 lower and

this morning we're about 40 percent

lower so we're seeing that trend kind of

slow down but where are we seeing a

trend take off well try dwac for a

moment this is where you have exactly

the opposite happening a trend taking

off so you've got social momentum

potentially moving into some of these

other opportunities and i want to show

you because you might not think oh well

you know why would somebody go from

bitcoin to digital world well it's the

same reason why the big losers right now

in today's market which there are a lot

of them but the big losers with the

exception of those that had earnings or

pre-earnings releases like snap and

beyond me

you have a lot of momentum place vinco

ater intel had earnings so it doesn't

count wishes uh momentum naked is

momentum fuel cell camber embryon

microvision sos btx qs

all of these right here are momentum

based plays including smile direct trade

desk is an advertising related play

that's going down because of the

snapchat uh reveal but amc gamestop

almost

everything that is momentum based is

down right now and so i'm making the

argument that this fall in bitcoin is

actually just a temporary sell-off by

traders people who came in because of

the hype around the bitcoin futures etf

now we have the bitcoin futures etf the

hype has left the trends are starting to

fall and therefore the price of bitcoin

is starting to rotate down now how far

can we go down i personally believe 58

000 as a potential support level that we

might hit it is not a very strong

support level so if we break past 58 000

it's entirely possible that we're going

to break down to about 54

353. so i'm going to keep an eye on this

but 54 353 you can see over here you've

got a nice channel between this 58 and

54 region here in recent days this is

the one hour chart if i go out to the

day chart let me clear these because i

know this is a little messy if i go out

to the day chart looking at this without

using some of my lines it would seem

holding on to 60 obviously a big deal

it's a psychological threshold as well

so very important but otherwise looking

at this without any lines and just

trying to find a place that 54 looks

like a pretty strong support level not

only do we bounce off over here but we

bottom out at 54 multiple times earlier

in the year over here of course uh this

right here this big summer crash this is

when i did a lot of loading up on

cryptocurrencies i took my portfolio

from somewhere around two and a half

percent to somewhere around seven

percent in cryptocurrencies now so still

not like over ten percent but much more

bullish and great opportunities here to

go shopping but that's hindsight right

so now we've got to look forward to new

opportunities remember that this low

here was really driven by china fears of

china banning anything related to

cryptocurrencies essentially with the

exception of hodling but any kind of

transactions or mining there was a lot

of fear happening over here just like we

had a fud summer for tesla and i kept

encouraging buy tesla my tesla by tesla

uh usually it's when you're at peak fear

is when you want to go shopping so

right now you know folks folks were

asking over the last few days should i

buy bitcoin should i buy bitcoin look i

don't i don't give financial advice on

the internet but a uh something that i

always look at is wait wait for the

media to go away the last thing you want

to do is you want to speculate into

something when you're in a peak media

session

and so i

do expect us to pull back and i think

there'll be a nice opportunity to go

shopping and going around that 54 000 to

58 000 range uh for bitcoin i think for

ethereum let's go ahead and see if i can

get any drawings on ethereum here so i

have lines set for ethereum at

37.06 that's probably where we might

fall to here more recently

this might be an hour uh line in terms

of why it was drawn but beyond that uh i

don't have a lot of ta pre-drawn if i

was going to look at the day chart uh

yeah 37 37 seems to be a an area that i

would look at a couple couple touch two

three touch points here uh certainly uh

sitting above that uh or at that 34

number we tend to stay channeled here

you've got resistance over here you got

support over here

and again you're looking away from the

summer flood season probably looking for

a discount more in line with potentially

even this upward trend that we have

right here so if i draw a

trend line here and i grab a little bit

of ta over here

maybe we could get to yeah that 35 34 35

level again i'm going to remove this

because it's just not that well of a

drawn line let me go down to the hour

level here let's see how the hour looks

see this is where you could see the

lines working a lot better uh all

because i usually draw these off of the

hour

and so we got our bounce here 4k 4k is a

psychological touch point we've broken

that we're now sitting on the 200-day

moving average basically bouncing right

off that 200-day moving average

this also the 200-day moving average

kind of reiterates that trend

yeah you can see that that trend line

looks very very similar that we drew

here for um

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very similar to the 200-day moving

average so that again reiterates

somewhere 35 something like that for

ethereum i'm going to jump over to ada

ada here ada had a little bit of an

issue where we had our summer collapse

and weeble doesn't show any historical

here but there is also historical but

anyway we had our summer collapse and we

had a lot of hype going into the smart

contracts this is the same thing that i

expect to happen with btc and we're

already seeing that now is you had a run

out of the summer dip got over here to

uh you know to above two dollars doubled

our money here

he did triple though at one point but a

lot of this right here this fat i like

to call this the tumor this excess tumor

right here is really in my opinion a

result

of hype around the alonso hard fork so

that's that's my expectation here for

uh ada

and looks like tesla just got uh credit

upgraded by the s p that's pretty good

but another thing you're gonna see here

is you're starting to kind of channel

here on ada you're channeling between

208 and about

230 is a little high let's say 208 to

215 you're probably in a channel over

here so i don't know that i would add to

ada right now unless i saw a catalyst

coming or i saw a breakdown under this

channel so for example if we broke under

208 went back to 200 i start two dollars

or under two that's probably when i'd be

a little bit more interested

now i haven't done sol

or salan

technical analysis yet but i'm willing

to do that this is actually my first

time looking at ta here we did have a

little bit of a run-up i was going to

post a fundamental analysis well i

shouldn't say fundamental more of a coin

analysis yesterday now solana uh i still

need to make that video i i've not

finished filming it yet though i have

researched everything and i'll just give

a little bit of a preview i'm

i'm impressed

i do have some concerns but i'm

impressed and my concern has nothing to

do with the stupid uh you know

centralization issue i will be

addressing that fear not but i'm

actually bullish on solana so i like

this a lot you know i think just on on

very basic simple ta here i think you've

got a very easy uh support at 178 or

sorry resistance level at 178 but that

could end up serving as a support is

what i meant to say

you've got you know maybe you just don't

have a lot of support in these price

ranges here let me go down to one hour

that doesn't help me a lot either i'd

probably say sitting around this 200-day

moving average is probably closer to

where i'd want to buy it it regularly

does fall under the 200-day moving

average so i probably wouldn't want to

buy it

of course you know you could be trading

above the 200-day moving average for a

while here i mean look at this you went

from 66 in august

to the next time you fell below the

200-day moving average was 168. so and

then you fell to 135 116

so you would have missed out on on a 2x

trying to just trade with the 200-day

moving average so you do have a risk to

consider there looking at the 200-day

i don't personally love buying on super

hype moments so i'd probably try to if i

was trying to enter this or time it

probably be trying to get back to some

of these levels over here that 150 level

we've got in my opinion a nice channel

over here a lot of recent enthusiasm

here motley fool articles and

discussions about it uh but uh i'm i'm

satisfied also right now with my crypto

positions in that i don't need more

exposure to crypto right now and one of

the reasons i'm saying that is because

there are a lot of stocks that are

selling off and remember i'm a big fan

of trading between

stocks and crypto so these are some of

the things that i'm looking at like for

example matterport this morning i

executed a trade at matterport probably

uh posted a notification about this

somewhere around 1890 something like

that so i was doing some ta just

watching mad report and made a purchase

here of course if you want all of my buy

sell alerts they're not guaranteed to

make you money but if you want to just

know what i'm looking at because i

literally sit here i spend all day doing

this i'll pay one time join the stocks

in psychology money group it's small

investment you'll learn a lot with the

lectures your lifetime access to the

lectures and i think you'll love the um

alerts i do them for crypto options

stocks everything

check that out link down below and uh

folks uh yeah look i'm bullish on crypto

i want to make this also very clear

because sometimes this gets lost in the

shuffle when i talk about you know

crypto falling i'm bullish on on crypto

for now i do think that long run there

are potential deflation risks uh if if

we do start inflecting into a

deflationary era i think there are going

to be risks for for uh cryptocurrencies

but that's really far down the road

right now i don't believe that's really

an issue uh that we even need to begin

talking about probably for another six

to 18 months quite frankly but uh

between that time frame between now and

then i'm bullish

i actually think 2022 is going to be a

phenomenal year for cryptocurrencies and

i think this pullback right now is just

a temporary uh

you know trader removal

uh let's get the hype out of here let's

uh let's go back to a level where i can

go shopping which is fine with me

and again if i could get uh into this uh

this 54 000 support here especially if

we start showing signs of bouncing off

of that 54 i i'd be down to add uh to

rebalance a little bit because i'm a

little overweight right now in ethereum

and i'm trying to keep my portfolio 20

btc and uh 40 cardano and 40

uh ethereum though i'm open to

potentially especially if we get a btc

dip and maybe it pulls solano down

episode down i'm open to potentially um

throwing a fourth coin in there and uh

seoul's what i'm looking at

unless of course it just it keeps

running i i don't i don't need to chase

it so anyway uh it and then if i haven't

made it clear yet yes a lot of traders

right now are going into things like uh

dwac

uh fun ph un crtd right these things are

getting a lot of attention a lot of

movement right now uh just be very

careful here okay get in if you start

seeing the technicals move don't rely on

somebody else to tell you to get out you

take your profits sometimes it even

makes sense to take a small loss to

avoid a big loss keep this in mind folks

thank you so much for watching this

video i will see you in the next one

thanks again goodbye

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you