[, Music, ], [ Applause, ], oh mom, dad clear out the basement cause. I'm coming home, hey diddle diddle, the crypto market continues to absolutely fiddle and diddle us as we drop to lower levels. But the question now is: where will we find support and what is my absolute lowest target that i 100 am convinced that we will get a mega bounce when we hit this price level, and is this actually healthy for the markets, like everyone says it is, or In fact, was peter smith right all along and guys i'm, going to be going over exactly how i'm, going to be approaching this massive dippage situation.
Welcome back everyone! I'm, your host duncan dippidge. My friends call me double d for short, but you can call me dipstick or the dipster absolutely insane. As i'm recording this video bitcoin is actually still falling, which is actually surprising to some people, as in fact the dip does in fact continue.
So we have a lot of things i'm going to be covering in this video, but specifically the main takeaways. I'm, going to be talking about exactly where i'm, confident that uh bitcoin is going to bounce uh.
We're, going to be talking about specific levels there and we're, also going to be talking about some altcoins and more specifically, how i am approaching uh this massive dippage alert so guys. If you're into the channel, make sure to hit that like make sure to subscribe, and if you're, not afraid of a little dippage, make sure to turn those post notifications as well.
So you get access to these time. Sensitive! Absolutely groundbreaking jaw-dropping videos as soon as they're posted and without any further a skittly doodah. Let's spladoosh in wow, so guys let's start off the video with this historically bitcoin does go through multiple corrections, even in a bull run, and i remember 2017 like it was yesterday.
Unfortunately, what a tragic reminder of 2018 an absolute crash waiting to happen, and if i had a little knowledge of ta back then, which i'll - admit i did not, then how i would have played that market would have been very, very different.
I'm, not even sure. If i knew about ta back, then when i was investing and i'll tell you one thing: if i just had a basic understanding of cycles, which i i did not then again, how i would have treated january of 2018 would have been immensely Different than how i ended up treating january of 2018.
and before we go any further, i actually do want to address. This question is what we're in right now, similar to january of 2018 uh guys, i'm, going to say with 99.99 confidence, absolutely not okay, uh! Basically, every single metric you could look at would say.
No. We're, not even close, so that is one thing to take: the sweat off your back eat the milk out of your milkers. So again, if we just take a look here back going from, you know the summer of 2016, all the way up to january of 2018, there were some pretty substantial dippage situations very similar to what we're.
Seeing now so, as you can see here, blockport tweeted this and uh yeah - you see 34, 33, 38, 40. 30. So where are we right now uh, when we take a look at this? So as i'm recording this video, this is basically actually the lowest that we've been all day.
So this is a pretty good time to measure how far this absolute dumpage has come so far. Okay, so again, this weekly candle is fairly new. Basically, this entire weekly candle has only been dippage. We closed last week at 50 right about 57.
5 000 and within a few hours of getting that new weekly candle, it initiated massive dip mode and we've, been within this dip ever basically since sunday night for me, so let's. Take a little bit of a teensy weensy look here.
Currently we are down about 20 and my target actually again is a little bit lower here, so guys uh in the grand scheme of things. This is truly a significant dip over the past few months. Okay, if you go back a few years, if you've been in this market for a long time, it's, really not that big of a dip, but if you've been only in the market for the last Four five: six months then, yes, this is absolutely maybe one of the bigger dips that you've been experiencing.
But i'm here to tell you we could easily go lower over the next few days and it would still be 100 percent in the realm of a totally normal pullback and one of the things that we always see. Every time we get one of these five six or maybe seven pullbacks in a bull cycle.
So, even though we're in a bull market, you still get pretty dramatic pullbacks in a bull market, something we see every single time that is 100 inaccurate. Is that every time we get a dip, the mainstream media, twitter personalities like peter sniff, uh, anti bitcoin people, basically and then even anti bitcoin media, and even some, not even anti bitcoin media? Just i guess neutral bitcoin media.
They will always try to attribute some piece of news to the price and guys over the past four years. I have seen this dozens of times and it's basically never been accurate. So my point there is saying um the news.
Basically, i don't really think had anything to do with this. Bitcoin is just consolidating like we see many many times in a cycle i mean for pizza's sake. Bitcoin is up absolutely massively in just the last 12 months.
Uh, and even more massively in the last three to four months, you can see it is normal to get pullbacks down to the 21 week moving average and that's at 26 000 us dollars. We're still 20 000. Above that level, even after this 10 000 dip so far, so my point here is none of this dip so far has been anything remotely close to a uh, an actual bad dip in terms of like breaking some fundamental or technical levels.
This is still 100 a normal dip in a bull market granted it is a dip. So, as we said, we're about down 20 this week, uh so far, um but yeah. We're gonna be taking a look at specific levels. Let's actually start here, though, on the shorter time frames, yeah, so bitcoin has kind of collapsed through some of these short-term supports here on this one-hour chart.
As we said, we got that very bearish cross on this one hour chart and yeah it's been getting rejected every single time. It tries to come up back to this 21 week or sorry 21 moving average on this hourly chart.
So that's, one thing we're, going to look for. If we flip that, then we can see - maybe momentum shift here, but we we have not even come close to doing that. Really you can see. Currently, we're holding on one of our fib levels, uh the 1.
272. Here on this four hour chart you see that's, where we've, just gotten our recent bounce and we actually have not gotten any four hour closes below this level, which is about forty five thousand six hundred so again haven't gotten any close, but closes on the four hour below 45 600.
Really, the biggest battle we're. Seeing here on this daily chart is trying to hold the 21 day moving average, which this will be very interesting to see. We still have multiple hours today before we get this daily close.
So if we get a daily close below this, then it is possible that we revisit some lower levels, but guys this is one of the main takeaways here this level right here, this level that we've, been watching for over a year now, basically, That we've, been following this chart for over 12 months again revisiting.
This is going to be a massive level of support, in my opinion, uh. We've used this for months and months, and it has provided immense levels of support and resistance, going all the way back to the crash in march of 2020 um, and you can see that here uh so for me uh.
I i 100 think that we are going to find support ultimately on this daily chart um around this level, which is right about 42 000 us dollars. So i personally think, if i had to answer early in the video where i think we're, going to get an actual bottom of this current move.
I personally think 42 000 is going to be the bottom, keep in mind. We could wick down even to this 50-day moving average or something like that. You know maybe even a quick flash crash below that. But ultimately, i think we're, going to get significant closes like the daily uh and especially any weekly closes above 42 000.
. If we go to the weekly chart, that is also exactly where our big key fib level is too so again. 42. 000 lines up with this macro chart in this weekly chart and on this daily chart, uh right about 42 000, so really um.
I personally think that 42 000 is going to be the big level that is going to ultimately hold for bitcoin and as long as it does, then we can look back at this dippage as uh, something very trivial, something not that important okay.
So let's. Take a look at ethereum, because ethereum has been getting bruised, battered beaten and spit on so horribly um, but currently ethereum is finding support at this very moment right around right on its 50-day moving average.
So that is one positive thing that we're, seeing here uh. Currently it did dip below all the way to 13 13 50., so it did go pretty low, but currently ethereum has held a very important level. Ethereum has been getting beaten down more than all these other coins.
A lot of these other top coins, for example, let's, see chain link actually kind of in a similar situation, ada holding up much much much better than chain link and ethereum on its 21 day moving average.
But now even we're, seeing bitcoin slip a little below this 21 day, moving average uh. What we're, also seeing here uh, i mean surprise, surprise. The dxy is getting a little bit of a bounce today, so we're gonna keep watching that.
Ultimately, i do think uh. This is gonna continue downward here, sold to have to watch and see it see it play out here. But again it could still find support on this for multiple days before it ultimately does come crashing down.
Uh and if it doesn't come crashing down, then that's, a whole different story, but all indications from what i'm, seeing are the dxy is going to crash and that spells bullishness for crypto. If anything changes we will know, but uh yeah, we have a long way to go for the dxy to be in a healthy territory and guys as well.
This is huge for a reason. We're, going to look back in my opinion. In a few weeks from here and think wow, this is probably one of the best altcoin accumulation periods. There was because what we're getting right now is simply a back test.
A retouch of the previous all-time highs here: okay, back in 2017 2018. This all-time high for altcoins, you're, seeing we're getting that retouch, which is something we've, been talking about also for a few weeks now, so it's happening um and we'Re getting a bounce so far, but ultimately, whether this plays out in a few days and we recover or it takes a week or two before we recover.
Ultimately, this uh, i think as soon as we do recover again. That is when the true momentum into some of these altcoins is going to pick back up so uh. Really, if you look at this chart, what we're, getting right now is a retest of uh of this previous all-time high.
Now, if we would have looked at this chart - and we would have seen something like this see - it come down to here - guys that's, a different story, but everything we're. Seeing so far is a healthy, healthy, pullback, a healthy back test of this market.
So again, uh, like i said if we would have if i would have looked at this chart and we would have been like somewhere drastic down here. If we would have fallen below our previous highs of 2018 and 2017, then that's, a different story, but that is not what's happened so far and again you can see this candle already has some nice girthy wick to it, Because it's, uh it's, bouncing back wow.
So if you knew the channel make sure to like subscribe turn on those post notifications, absolutely no panicking guys, uh and as well, i will be moving here very shortly. I've, been saying that for a while, but there were some complications that came up specifically with my health when my appendix uh decided to get infected, and i had to have surgery, um and everything like that, but yeah i am pushing here uh.
Hopefully we're gonna be having that transition very very soon, and um yeah, we're gonna be changing up the content. A lot of you have been saying about live streams, and you know multiple updates. In a day, unfortunately, that won't be possible until we make this move, but fortunately uh.
It looks like that move is going to be happening here within the next. I want to say a month, so hopefully that does uh kind of speed up a little bit but yeah. If you're interested in trading, make sure to take advantage of our buy bit and fee max deposit bonuses below never trade.
More than willing to lose, and only do it if you have experience - and you want to support the channel but guys as i've, always said - i say this basically, every day i never trade more than five ten percent of my portfolio maximum okay, I would strongly advise i'm, not a financial advisor, but i would strongly advise never trading more than just a small portion.
Okay, because you don't want to risk so much of your capital right. You just want to protect yourself, and you want to be careful and without any further split, that's it for me, bye-bye, you