Is this the Bitcoin Bottom?? Bitcoin Price Prediction

Hey guys what’s up it’s frank here from Altcoin buzz so today i imagine a lot of You are being very fearful we have seen Bitcoin drop 12.8 in the last seven days An important diagonal line has been Crossed here one which a lot of traders Were hoping would find support but not Only that but we’re seeing similar Patterns in stocks in goals and in bonds So we’re going to go over all of that as Well as also bitcoin dominance to see What this means about not just bitcoin But also the altcoin market and finally Stick around until the end of the video Because i’m going to tell you i’m going To inform you about a very very Important day coming this week i’m going To tell you why it’s important and why As a bitcoin investor you have to be Aware of what’s happening on this day And when it is now for those of you who Don’t know al quinn buzz is first and Foremost a crypto investment research Company and we have been providing you Numerous 100x returns since 2017. so if you want to get in on that Action join our al quinn buzz access Group where we document up-to-date Research covering undervalued altcoin Gems nft minting opportunities and our Portfolio strategies so click the link Up above or down in the pin comment Section down below to take part in the Action today also please don’t forget to

Like Subscribe and click the notification Bell so that you don’t miss any of our Future updates and finally please note That none of this is financial advice [Music] So before we get started with bitcoin It’s important to be aware that the s p 500 the stock market has also been Falling since the beginning of this year Since the 4th of january we’ve seen a 15 Just over 15 Dump in the stock market so If you’re investing in bitcoin don’t Think that you’re the only one that’s Suffering a lot of traders are suffering Right now even gold has fallen since the 9th of march it’s been steadily falling Over the past couple of weeks a very Clear downtrend and finally even bond Prices are in free fall and have been For about five months according to Money.us money.usnews you can see here On money.us news that over the past Three months The Bonds have just been falling and falling In value now here is a chart which i Want to revisit this is the bitcoin Dominance chart in other words what Percentage of the total cryptocurrency Market is represented by bitcoin and as You can see we haven’t seen any major Moves in the past several weeks we’ve

Been in this descending triangle which Is actually a bearish pattern and Usually in Bear markets we see bitcoin dominance Increasing significantly and we see Altcoins crashing now one of the reasons For that is actually likely because we Have so many Stable coins in the cryptocurrency Market usdt usdc terror ust binance busd So all of these stable coins are of Course representing now the altcoin Market so that’s one of the reasons why Bitcoin dominance actually isn’t falling So quickly as it might otherwise that Being said as is common when bitcoin Falls altcoins usually fall harder Ethereum at 13.5 percent of the past Week and most other altcoins have Dropped more than 12.8 percent over the Past week unfortunately but what can we Say about this bitcoin chart well the First thing to note of course is that we Want to zoom out right always look at The bigger bigger picture now Interestingly on the monthly chart we Have not yet broken the most critical Level which is the previous monthly low Which we touched in january Which was the 32 917.7 Dollar mark we have not yet crossed that So we are not yet In a downtrend let alone have we broken The uptrend we are still

Very much in an uptrend on the monthly Chart so the very bigger picture is Looking good but obviously we are very Very close to that level and when we Look at the lower time frames we will See that it is indeed looking scary Certainly on the weekly time frame as You can see this diagonal channel we Have one candle breaking out of it Bearish although it isn’t That convincing yet that we’ve broken Out of this diagonal channel to the Downside because we’ve only had one Candle and it’s only barely Scraped through this diagonal line that Being said we do have increasing bearish Volume we have the bearish crossover on The macd so certainly things are not Looking good and of course we broke the Previous weekly low So now we are officially not in an Uptrend anymore on the weekly chart now When we go down to the daily chart we Can see that the next major major Support is this horizontal line at Twenty eight thousand seven hundred and Ninety four dollars we’ve seen many many Supports here in the past one two three Four times that we found support at this Line so that seems to be the most likely Place that we would find support next Unless of course we see what i have Mentioned several times a pin bar Scenario where we have one or two more

Days below this diagonal line and then Just come shooting right back up because This is something which often happens You have to understand the psychology of The market now is very fearful a lot of People are selling and this oftentimes Is when The manipulators of the market the big Money players they try and make it look Like everything is going down and then They buy so and then they bring it right Back up because of course there is a lot Of fear right now but that doesn’t mean To say that that will necessarily happen It’s just a potential scenario certainly Currently it is looking bearish from a Technical perspective and finally the Day that you have to be watching out for As a bitcoin investor is of course Wednesday this coming week may 11th Which is when they will release the Consumer price index in other words Telling us what the inflation is and a Lot of investors predict that march was The peak inflation and that now we will Be slowing down with the inflation but Time will tell and what happens this Wednesday if we have higher inflation Rates than we had in march this will Definitely be bad news for bitcoin Because it means that the fed will Increase their rates and of course this Is bad news for Bitcoin that being said some of this

Fear has probably already been priced in But certainly if the inflation has Increased Significantly since march It is very likely that bitcoin will not See a reversal anytime soon whereas of Course if we have reached peak inflation Then maybe the fear for bitcoin will be Over and we will indeed start to reverse All right guys that’s been it from me For today i hope you enjoyed this video Feel free to check out my previous video On polka dot i outlined some scenarios There for how and when you could enter Into that market So feel free to check out that link up Above And with that being said guys i’ll see You in the next one [Music]