New Bitcoin (BTC) Targets After Tether FUD?!- Crypto Market Technical Analysis & Cryptocurrency News

what is going on ladies and gentlemen

crypto Kirby here your cryptocurrency

expert back with another edition of the

daily livestream what is going on my

friends today I'd like to discuss

Bitcoin and the savage tether candle

that we did have just last night this

candle has induced a crazy amount of

action inside the market bringing these

tether exchange prices up to a crazy

premium guys as we can see here on

coinbase

we only reach 6800 and I say only

lightly and it's only 6,800 because in

comparison when we look at exchanges

such as buy nets and BitFenix that are

using tether sheesh guys we did go up to

almost 7700 leaving over sheesh guys

it's like an $1,000 spread between the

two prices absolutely heinous now I'd

like to discuss my thoughts on this

candle here which really did in fact

turn out to be quite the pump-and-dump

guys uh I'd like to discuss what I

believe is going on here as there's not

much information right now you know out

there for the public to really see was

this insider trading what does this mean

going forward but more importantly guys

I'd like to basically review my trades

from last night I'd like to discuss my

strategy here moving forward with how

I'm planning to tackle and crush this

market like an absolute savage so

without any further ado you guys already

know the deal if you like these daily

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tick the little bell and let's get this

crypto moon the likes ladies and

gentlemen moon them up alright so we'll

begin with our Bitcoin technical

analysis now obviously guys the cat is

out of the bag we definitely pumped up

crazy off of this tether FUD as I was

just mentioning there's not really a

definitive answer as to why tether

decided to dump down to two crazy crazy

low levels across various exchanges and

also mooning the Bitcoin price

these tether traded exchanges to crazy

astronomical levels compared to

exchanges such as coinbase which is this

chart here that only went up to 6,800

right and just to be clear the

difference is that these exchanges such

as coinbase are using actual fiat US

dollars connected to bank accounts

rather than the tokenized fiat of tether

which has a lot of FUD surrounding it

there so basically guys what we are

looking at here in terms of price action

we had a crazy crazy pump and then

almost immediately a dump and obviously

what we can see here from the volume as

well guys is that that it all took place

in a very short amount of time now as

you guys know if you were following my

stream here yesterday and you are

subscribed you would know that I made

the stream when we were traveling down

in this price range down here what I was

looking for was resistances up in these

upper channels guys obviously we blasted

right through all of them on that

manipulation candle what I wound up

doing was as I took some shorts up in

this area and I also took another short

up here basically what wound up

happening as soon as I got into my

higher shorts we began to retrace a

little bit I wound up pulling out of my

trades for basically near breakeven I

lost a very very minimal amount of what

I put in because as we went up here we

started to get crazy fluctuations back

and forth and what really led me to exit

my trade was that I saw that finance was

up to like 7400 at the time and I was

like whoa whoa whoa this spread here is

crazy the spread is crazy and you know

this manipulation was far too much for

me to stay in my trade so I was like

listen I'm going to basically take a

very small loss here and just exit my

trade until I see what's going to be the

fallouts

and the conclusion from this

manipulation candle so

yet my trades yesterday basically just a

very very fractional loss you know if I

if I did keep them open for just a

little bit I would have been absolutely

break-even being said we are now

retraced and we are finding support

within a historic support range as I

will outline for you guys here we can

see that this has been a historic range

of interest back here it did account for

the bottom support and twice

it was support there as well which now

in theory should be new resistance but

right now guys the trend is absolutely

savage you know right now this is a very

gambling territory that we're looking at

here let's look at this from a bullish

perspective for a second if we are able

to break above this line which this line

when I refer to it is about sixty four

thirty if we can break above sixty four

thirty and find support it would not be

out of the ordinary to test this line up

here at sixty five sixty in my opinion

and that line is the descending triangle

that we have not been able to break for

the whole trend except this manipulation

wick which got quickly quickly sold back

down so I don't want to pay you any

attention to that as that's really not

you know a valid break as it was not

able to sustain it either it's a

fake-out candle right so to me guys

we're looking at ultimate resistance up

there at about sixty five forty sixty

five thirty around that area

the RSI on the four-hour time frame is

already very very close to being

overbought the MACD it still could have

some room to run there but you know it

is going to start to get overextended

here very shortly in my opinion and

right now guys obviously the momentum of

the trend is still very bearish overall

nothing here changes the overall

structure of the trend it's still in a

10-month bear trend right now there is

nothing that I've seen here that would

change anything in any

type of market structure market

sentiments etc overall the market still

appears to be in a bear trend and I will

continue to trade with a bearish bias

now the thing is guys is that down here

right where we were yesterday let me

circle us where we were yesterday this

was basically a no trade zone right I

did not open any positions down here I

had taken my short from up here and sold

down in this range that was a very

lucrative short but I did not open any

new positions down inside this range

because we didn't know if we were going

to break to the upside or flush break

down right so basically the plays to be

had was to see resistance up in these

upper channels and really guys this

manipulation candle just went through

all of those levels so quickly it was

very very difficult to really you know

take anything there into consideration

now being said if we are gonna look at

this from a bearish perspective here I

just covered the bullish that would be a

break to the upside over 60 for 30 find

support and look to test the upper part

of this descending triangle resistance

at 65 30 to 65 40 if the Bears do take

full control again here what we need to

see is a break back down really into the

62

let's see below 6300 we need to see a

break back into that channel at a

minimum and then look to probably test

back into this zone if we get back into

this zone down here between 60 100 and

60 to 50 that is going to be a very very

bearish sign in my opinion now of course

guys you know novice traders trading

with a bullish bias here if we drop back

into this zone and we do not purge right

away the novices will be like Oh Kirby

well we're finding support again Kirby

we're finding support the thing is

ladies and gentlemen is that the more

times that you test support after being

rejected the

less likely it is to hold up you know

seeing this tether pump-and-dump

getting rejected at the top of the

descending triangle getting shot

immediately back down and then volume

falling off a cliff and then you know

falling back into this magnet zone area

that is not bullish that is just not

bullish that's making things up in your

mind then right because the thing is is

you cannot discredit all that just

happened here

we had a manipulation pump with crazy

fake volume with a crazy crazy thousand

dollar-plus spread across certain

exchanges we had a crazy amount of thud

stemming from tether insolvency rumors

this right now guys nothing has changed

for me here that is the absolute truth

nothing in my opinion has changed here

the trading environment right now is a

little bit sticky I will be keeping my

VIPs updated with every single trade I

make in absolute real-time this this

trade right now seemingly is not there

for me yet I am awaiting further

confirmation I'm going to let multiple

more for our candles develop here so I

can get a better idea of what we're

looking at right now this is seemingly

just a no-man's land we had a huge huge

manipulative pump up and we are trying

to figure out where the market wants to

settle right now and obviously guys the

the discrepancy in the spread here

across you know the Bitcoin price across

tether exchanges and spot Fiat exchanges

is still huge it's very very large still

across some exchanges you know there is

it's settling down now it's not nearly

as a as extreme as it was last night but

there still are multiple hundred dollar

spreads across different exchanges so

personally I'm waiting for this to cool

off a bit

to really get a better gauge on the

market right now because this is

extremely extremely gambling now you

know I want to discuss this guys because

today there's been a lot of toxic toxic

people on social media um rooting

against the

ere's right getrekt bears get rekt we're

going to the moon this is not about the

Bulls or the bears ladies and gentlemen

which you have to understand right these

these people that are cheering bears get

rekt bears get rekt they don't

understand what they're cheering for if

this pump last night was truly due to

tether being insolvent and them going

belly-up and tether being proved that

they were not backed by US dollar or

whatever right

that is so so bad for crypto guys it

would be a short-term pump because

nobody has anywhere else to liquidate

into besides Bitcoin aetherium etc

they'd have to liquidate whatever they

can get for their tether

into crypto which would temporarily eat

the order book upwards which would moon

the price temporarily and then once

everyone was out of tether they would be

dumping their Bitcoin for fiat dollars

and dumping the order book the other way

guys if tether goes belly-up right and

tether is proven to be insolvent that is

a detrimental huge huge a negative

impact on the market that would

basically you're you're taking a piece

of the crypto economy's infrastructure

out by the legs goodbye oh this is not

something to be cheering about ladies

and gentlemen I don't care if you're a

bull or bear it does not matter we're

all traitors right we love what this

market provides so there's no need to be

negative here guys there's no need to be

cheering that the price has gone up

because they don't they don't really

understand what they're cheering for

guys that's the problem okay they're

cheering because their portfolio went up

a little bit yeah yeah Curbeam I'm up

three percent today let's go

bears get rekt first off if you're

trading like like a veteran trader that

trades full-time you're never getting

wrecked quote-unquote because you're

using proper bankroll management if a

position goes sour oh well who cares

you're not all in it's only

generates that are all in so every

movement in the market has them

trembling oh you know that because

they're trading like it like a be nice

guys they're trading an incorrect

incorrectly very degenerate Lee okay the

thing is is that for a small short-term

gain to be cheering that tether is

having problems and that bitcoin is

going up before that is so ludicrous

they're cheering that the crypto

infrastructure may be taken out by the

feet and could collapse the space in the

short term that would be the effects of

tether going down ladies and gentlemen

this would not be something to cheer

about because it doesn't matter if

you're a bull a bear a Hodler it doesn't

matter the space would change we'd see a

crazy crazy most likely in my opinion a

capitulation and it would take a while

to recover from that because you would

not know the full impact for quite some

time and form you know investor

confidence to come back in this market

following a catastrophic event like this

would be very difficult you know what

I'm saying guys it's not um you don't

know how far the order books were pushed

up due to tether right if this was in

fact insolvent and I'm not making any

claims here I'm unbiased you know I

don't have an opinion right now if

tether is fully backed by USD or it

isn't I have no no bias or opinion on

that but let's just say that they were

insolvent right and it did not it was

not backed fully you don't know how much

the price of Bitcoin was pushed up by

this this you know entity here you don't

know because it doesn't take you know

six thousand dollars to pump Bitcoin up

right now even though Bitcoin is six

thousand dollars right it only takes one

dollar to push the order book up right

less even you could buy less than that

um the thing is that it's just any order

that buys at the next highest price in

the order book so it's way this you know

2.4 billion dollar market cap here for

tether definitely pushes the Bitcoin

market cap up way more than 2.4 billion

so you know guys I don't think that

these that a bunch of newcomers in this

space actually even understand what

they're cheering for and it's very

worrisome because um you know they're

looking at this in the short term that

their portfolio went up 4% and they're

cheering and laughing and making like

this is the greatest thing to happen

what you know what I'm saying they're

not understanding what's going on here

if you're cheering that tether may be

going belly-up there's a problem man

you're not understanding what's going to

happen

you think 4% from tether going belly-up

is some kind of win tether goes belly-up

we'd probably it would not surprise me

to see Bitcoin go back into the low

2000s 1000 because you don't know how

much of an effect that tether had on the

market how high Bitcoin went in 2017

because of tether so what is the true

value then right what is the fair market

value of real fiat dollars that went

into Bitcoin if tether was proven to not

be backed 100 percent by US dollar

what's the real price of Bitcoin then

right I hope that that you guys

listening here today are you know

looking at this with a very level head

it this has nothing to do with bull or

bear this right now is that if there's a

systemic problem with tether none of

this price action matters at all none of

this matters but the problem is that in

this space guys there's a lot of very

you know ill informed and not properly

educated individuals in the space on

these topics and they don't understand

the repercussions of what

is going to happen if this were in fact

to go down and the thing is guys is that

there's no way that you could have

planned for this year you know I mean so

the thing is is how are you how are you

taking positions first off you know what

I mean on this candle you can't be

taking positions based off that candle

in my opinion did you just can't that's

why I'm awaiting further action here to

see what the response is after we've

corrected back down from that heinous

heinous manipulation and you know

mainstream media is covering it now as

we could see CNBC put this out there

looking at the tether situation as well

BitFenix apparently is having some

withdrawal problems as well they say

it's all fine there are tether backed

exchange right but apparently customers

are disagreeing with that saying that

some of them are having problems

withdrawing fiat currency we're gonna

have to see guys this is a very very

interesting time here of course I am

playing this market aggressively very

aggressively my VIPs know I keep them

updated with every single trade I make

its a savage environment here ladies and

gentlemen and today's today's video I

just really wanted to point out that

this is this is not something to be

happy about the fact that tether is

going down so rapidly and then ripping

back up rapidly pumping and dumping

essentially that is not what you want to

see in the space and anybody that's

cheering this price movement they don't

understand what they're cheering for and

I just you know if you think that

somebody you know needs to hear this

definitely share this video with them

because this is you know this is the

truth it's coming from the heart from me

I don't think that people understand the

repercussions of what would happen if

tether were to go belly-up so listen

what I'm doing here tonight guys is that

I'm going to continue to monitor the

monitor these candles going to monitor

the RSI the MACD here I'm going to look

more so on some intraday timeframes as

well to really get a perspective of

where this trend is consolidating and

what looks like is going to happen and

within the next day I probably am going

to be taking some more aggressive

positions here depending on how this

shakes out and I'm ready to get this

crypto guys do not be a degenerate okay

listen if you lost on trades today who

cares it doesn't matter guys this is a

long this is a long game it's not a

sprint it's a marathon right so the

thing is is that as long as you're not

being a degenerate and going all-in on

every trade if you got hurt by this

action that means nothing dude literally

means nothing right well if you're

trading with proper risk management you

lose trades all the time so if this

wreck - you don't feel bad don't feel

bad and the thing is is that if you made

money on this congratulations I hope

that you took profit up here because

there was no way that that was

sustainable and now once again we appear

to be in a waiting in a holding pattern

that you know proper full-time traders

are awaiting confirmations here to take

a new position and crush this market so

being said guys just please don't be

taking that trip to wreck city with

average Joe and dreams at the water

cooler because there's no need guys I

know this candle induced crazy emotions

here

like I said social media has been so

toxic that I've removed myself from it

today

you know I stepped away from social

media just a very very toxic place to be

today and I don't understand why you

know these moonboy Bulls that bought

Bitcoin at 20,000 and are still ha

telling you know every time Bitcoin goes

up 2% they're screaming from the

rooftops there it is get rekt bears get

rekt dud they don't even know what

they're cheering for guys so um the

thing is is that if you feel like those

emotions are being invoked every time

that you see something like this

probably have too much money invested

you know what I mean that's that's just

the truth it's probably too big of a

movement like when I saw this last night

uh it means nothing you know I mean it's

like oh we're having some crazy

pump-and-dump manipulation again

you know very emotionless very you know

nothing but I see it's like it stirs up

the pot of craziness it's like a I don't

know guys it's a very crazy thing here

and the reason that emotions are you

know brought to that crazy level is

because people have money invested that

they don't want to lose and when they

see it go up these endorphins and these

chemicals in their brain release and

they all it's like they black out almost

you know what I'm saying and they go

crazy they go crazy and you know the

thing is guys is that if that's how this

type of movement makes you feel you

probably have money you can't afford to

lose invested or you've invested just

too much that you're uncomfortable and

the thing is is that if you got wrecked

here like I said the thing is is you

don't really quote-unquote get wrecked

when you trade with proper bankroll

management for me guys like I said I

took some shorts here I took some shorts

here and I just closed in the middle for

a very small loss like less you know

what I mean less than a percent and the

thing is is that it doesn't matter even

if I lost say I lost the whole thing

hypothetically right say I like ba are

you know shorted down here and you know

got liquidated up here it doesn't even

matter because the thing is that I have

proper bankroll management that that my

position relative to the rest of my

capital is so small that I expect to

lose sometimes right all traders have

losing trades and the thing is is that

I'm only acknowledging this guys because

I've seen just a crazy amount of turmoil

on social media today and it just it

saddens me because of how improperly and

uneducated lis people are trading I

don't even know if uneducated lis is a

word but it just came out there playing

with way too much on the table that they

don't understand that trades go sour

often no trader wins a hundred percent

of the time trading is probability not

certainty the thing is is that it's just

a crazy Degas crazy day and my message

to you all is to keep your emotions in

check

do not you know let these candles make

you go crazy in either way this candle

should not make you feel amazing and it

should not make you feel depressed it

just is what it is you take it for what

it is and you get this crypto so being

said guys if you could one last time

moon up the likes moon them up smash

those thumbs click to subscribe button

tick the little bell let's get this

crypto a little different tone here on

the stream here today guys I felt like I

had to give you a a very heartfelt

analysis here today with what I see

fundamentally and technically in this

market you know hopefully tomorrow we'll

be back to our normal analysis you know

more pep in the step a little bit more

gusto behind the delivery here with some

more confirmations in the candles to

really plan strategize and you know

ultimately crush this market play it

like a fiddle so uh yeah guys until next

time I will be in the VIP like I said

and as this trend develops I'm going to

be trading it aggressively so I'll see

you guys in the VIP keeping you updated

with every single trade I make in real

time

shout out to my VIPs and until next time

guys be safe be happy be healthy it's

your boy Krypto Kerby peace and love my

friends kerbs

you