BITCOIN!? Why price Drop- Litecoin & Ethereum Charts- ARCANE BEAR

BITCOIN!? Why price Drop- Litecoin & Ethereum Charts- ARCANE BEAR



well we are pre-recorded again ladies and gentlemen and we hope you are having a beautiful morning it is February 25th we want to thank you all for joining us this Monday we hope you had a fantastic weekend the Bitcoin price rose right up to the 4200 ollar mark hit that area of resistance as we said it might and instantly turn back around this is a very bearish single this is a very bearish signal and for those of you had asked why I thought the ascending triangle would be bearish it's because we're still in a bear market we've even been in a bear market for quite some time and they do not suspect that we will leave that area until we find more consolidation every time we move up and down like this it means we have not found the bottom yet and I am still waiting for that so let's just take a look well dive right into the market cap here on coin gecko calm our favorite place to check our daily prices for all of the top crypto currencies Bitcoin in the last one hour alone has dropped around eight point six percent hold on a second I believe that this might need to be refreshed here there we go we're back up over the last seven days were only up seven point six percent so we did have a nice big drop we were sitting around the 40 to 80 mark and then drops down to 3800 aetherium again the same thing we were up at around 160 dropped back down to 137 I'm going to take a look at litecoin around $44 as well now in the charts this seems actually this looks quite normal we were suspecting this we didn't act we had posted in our previous video that we didn't think we were going to go to $5,200 even though we still had hopes for anyone that might not have gotten out now it would have been nice if this had appeared as a third wave and we still might see some change in this sentiment again there's tons of positive news coming into the blockchain and crypto space as a matter of fact if you keep your eyes open on this space it is growing evolving rapidly now those are all the indicators that are going to come out when the price movement starts to enter a bull market again all of that is currently going to be priced into the market as we go up all this good news is us returning back to a regular sentimental value and again as I said many times before the importance of we want to keep our eye on here I think in general is the entire market it's not just a single space the Bitcoin and cryptocurrency space in general is designed to help replace some of the older archaic systems that exist that don't have the speed at the efficiency or more importantly the decentralization that is so powerful for empowering those that don't have much again it's one of the most important parts about Bitcoin as it allows access to anybody that wants to use it now again this does bring us the gray area of the fact that any criminal can open a bank account on their phone but that means those that don't have access to the necessary credentials to open a bank account in whatever country they might be in strictly because they might be in an impoverished area it allows them to use the banking system so that again is one of the reasons why I believe there is so much more room for cryptocurrencies in this space as we grow I do not believe we'll just end up with Bitcoin I am a firm believer that Bitcoin will end up being part of the remittance space in how countries pay countries Bitcoin could end up being worth trillions of dollars that's right I said trillions of dollars and that's because the physical paper dollar that we know today is absolutely worthless if our perception of value starts to shift we can shift that value transaction quite quickly so again as you see here we bounced up we touched right past the 100-day exponential moving average and soon as we touch that we came falling back down so here you can see the triangle that the ascending triangle to be true as soon as it touched it broke out of there quite quite quickly it hit our line of support and resistance it was the max of the hundred a exponential moving average which we did say we would likely hit and then turn back around so it was nice to see that that call paid off it's always nice to get it right although obviously we don't always get it right but that's why we like to do it as often as possible we increase our odds and chances of learning something valuable during that process take a quick look at a theorem as well a theorem had the same little triangle that we were building up we had a quick little break out it seemed to follow bitcoins price almost identically the entire market seems to follow Bitcoin almost identically here we didn't even break out we broke out quite a bit past the hundred eight exponential moving average but even still you saw the same ascending triangle on on aetherium the large spike upwards the double in tweezer candlesticks and then a big return back down we haven't hit the 50-day exponential moving average on a theorem yet but I suspect that will happen probably somewhere around $130 in the next few days litecoin looking very similar again here too although we did not see that triangle we did see a big spike in price in litecoin following the move in Bitcoin and as you can see here the descending RSI we're in a bearish sentiment for litecoin and the same with aetherium if we go back here and take a look at the RSI as well we tried to push out we broke out into the oversold multiple times now we're back down to the 50% range again were right in the middle of for these so I'm going to suspect that unless we see something absolutely crazy in the markets as a whole Bitcoin is going to likely continue its downtrend and I do still suspect that $2,200 to $1600 is almost an absolute now everyone and I agree with this sentiment as soon as you say something is impossible to happen then it will prove you wrong now again I'm not focusing on just an entry point at $2,600 I did as I said many times I do I enter by and cells in staggered regions just trying to accumulate a less aggressive and less FOMO style base the emotional sentiment here is that what I'm trying to do is make as many asserted guesses as possible that way I'm not just entering blindly and giving myself the space and time to make an assertive guess instead of going oh my god some $4,200 it's never coming back out again this is your last chance no this is a I like to live in a game of many opportunities again this is why I focus on on business and general and and multiple assets not just owning cryptocurrencies but having real estate and businesses it makes a lot of sense to be invested in many different areas that way you have as much passive income coming into your life as humanly possible that way you can spend your life doing what you love and enjoying your free time with your family and your friends so if you're new to this content smash that thumbs up we are very grateful to have all of your support I do try to do stuff like this daily we're going to be taking a look at a few more the tokens that all the bear family has been asking about in the telegram channel so if you're interested in finding out more about what we do there jump down into the links below join our telegram channel you can leave us thoughts and comments down there I do try to take a look at everything that the bear family is interested in as time goes we have a big music festival down here in Costa Rica this week so I will be trying to do videos as best as I can but I'm gonna tell you I'm gonna be mostly half-naked dancing around in the jungle and swimming water this is the perfect time for me to do so and I love taking that time off we hope you have a wonderful rest of the week we will be back online with a video hopefully tomorrow before we fly out we're gonna be picking up one of our friends decided to see her tomorrow as well so we'll have a bunch of friends and family down here in Costa Rica and the bear cave we hope to meet some of you as well I dunno coming down for the envision festival to just deal with the archein bear again remember to smash that subscribe button 2019 style hit the little bell that way you're notified every time we produce a video and end yes we will see you in the next video ladies and gentlemen this is Atiya one more time with the Archaean bear I'm very very grateful for all of your support and until next time we'll see you guys in the next of the video you

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About the Author: Maximilian Kuhn

12 Comments

  1. thanks for the great video, much appreciated. It seems in my amateur opinion LTC has been a bit stronger in the past few weeks and could become very attractive especially if BTC leads the overall market lower

  2. XRP node held by Ripple are being close as independent ones are created at a rate of 2 new ones to 1 Ripple. Of the 100 billion XRP created Ripple own 40% but most of them will be burned as the market need stabilizes. What else?

  3. It literally dropped in like a minute I remember checking the price it was about 4,200 and then like half an hour later I check the price and it's 3700. that was pretty cool I'm getting more confident with my decisions

  4. Everyone thinks that bitcoin goes sub 3k, therefore everyone has orders set up sub 3k, therefore it won't go there. When everyone thinks we've bottomed that's when we go sub 3k, but that's not the case therefore we won't. This reminds me of 2009 when I told my friend to go into the stock market at 7k and his response was, "yeah but it could go lower." Everyone had the same idea that he did, therefore we went higher. We've BOTTOMED.

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