Breaking down also a head and shoulders pattern I shared with you guys recently and what it means coming up Solana cardano polygon and we’re also going to touch on the US dollar as well as this is having a big effect on the market right now so we have heaps to cover but Of course I’m not a financial advisor and I would encourage you to check out those links in the description below we have a bunch of helpful resources tools and everything else you can check out down there as you can see in that description now also if you do want to Learn the strategy that bought Bitcoin at just over 28k sold it at 30k and still holding into a profitable position I would highly encourage you to check out the memberships down there you can learn the strategy in both Tia membership or the premium membership and You can see some of the results that our members are getting by adapting these strategies to suit themselves now if you really do want to up your trading game definitely check out the premium membership as I’m teaching a master class to all of the premium members showing how to multiply your account in A matter of months using very simple strategies and techniques so definitely check those memberships out down below now jumping over to bitcoin on the short term we did get that breakdown at thirty thousand dollars that key level we’ve been covering it for quite a while since Before the market broke down just how we were expecting some significant resistance at that psychological 30k level now of course the market did break above broke back below but you just can’t see how it’s the most important price in the market in terms of holding the market up we held above their short Term we did not get that breakout overhead which is what we’re looking at in yesterday’s video to send cryptocurrency higher to take out that 31k level we never got that confirmation and of course we just had a breakdown below 30k leading to a Savage sell-off now the key levels on the underside are The same as what we’ve been looking at for quite a while we have all of these old tops that were acting as support right now and also we have some trend lines holding the market up as you can see now at a very important juncture in the market because if these tops break Down it’s also going to be breaking down from a 50 level coming from low to top as you can see there and as well as a number of trend lines in the market so it would be putting Bitcoin into a very weak position on our short-term time frames obviously weaker than it already Is breaking down from that 30k and we can start to expect some much lower Targets on the downside we would be expecting a breakdown to re-test the bottom end of this consolidation pattern and potentially even lower the next macro level down below is twenty five thousand dollars now I’m not saying it’s Going to get there but we have to be aware of where these levels are on the chart now is this going to be changing the macro Market structure I’ve been very bullish for a number of months now for the total market cap now I’m going to get to the most important level for Cryptocurrency right now on the big picture we’ll be covering that at the end of the video so do stay tuned but over to bitcoin still we have those key levels to be looking at in terms of support and resistance and we’re obviously at a very important juncture Right now now I’m not getting bullish on the short term until of course we can get back above that 30k level now there could very well be some good good bounces up to that 30k level if we do continue to hold these old tops but in terms of expecting anything major breaks Of 31k and higher prices of course it needs to regain that 30k level and hold and then break some tops that’s what we’re always looking out for in terms of our support and resistance and of course it’s been unable to do that yet since breaking down below 30k after putting This little intermediate top in at 31k it’s just been lower top after lower top on the time frames we are looking at here on our four hour chart so definitely Mark these levels up on your screen we can also draw on a 50 level from top down to the current low which Obviously may go lower and you can also see how it’s coming in at just under 30k so it’s lots of reasons to be expecting resistance at that 30k and any bounce up until that level could still just be a short-term bounce of course there’s a bit of room in it about a thousand Dollars or so but I’m not expecting anything major on the overhead until we can get back above those levels and we can be looking to the low 30 000 but at least so now that’s what we’re looking at for in Bitcoin the next Underside supports quite clearly those next old Bottoms in the market coming in around 27 and a half to 28 000 and of course we have that bottom end of the consolidation range coming in at just over twenty six and a half thousand bucks but for our numbers 26 and a half is pretty uh even there to be looking Out for over to ethereum now now earlier in the week I did share the head and shoulders pattern how I don’t really use it so much for projecting targets but it is a very key pattern to be looking out for support and resistance especially in conjunction with the swing indicator now There’s a link for the TA again swing indicator in the description below definitely go ahead and watch that tutorial but essentially what we’re looking at with Head and Shoulders is the fact that we can have a shoulder a head another shoulder and we’re looking at that neckline now that neckline and The breakdown of multiple swings as you can see here you can see the orange overlay and the white overlay that’s what the swing indicator is giving us here it can really lead to some pretty important breakdowns and some key support and resistance areas so of course we had that Breakdown off the Back of multiple patterns and of course the swing chart and we just did see that rapid deceleration in price you can see it dropped quite quickly breaking that 2K level as well as those old tops lots of areas of potential support which gave way quickly just showing the weakness in The market now here we are finding some support exactly on that trend line that I shared with you guys in yesterday’s video it’s actually been on the chart for quite a while and also our old tops now if we’re not seeing any support hold up above these old tops and trend line Then I would be expecting a continuation down at least to the 50 level just above 1900 bucks that 50 level does come from this top here as you can see down to this last bottom a key level in the market in terms of this consolidation range and that’s where the market Started to really take off from and essentially we would be expecting some kind of buying pressure to pick up or at least some kind of support to pick up around our 50 levels which is so often the case but at least for now we are getting temporary support now I’m not Getting overly excited for ethereum the bullish side of ethereum of course until getting back above that 2K and those old lows the breakdown levels are always key to flip the market sentiment back in the other direction whether we’re looking the markets rising or also falling so of Course we are falling now now this was the breakdown level so anyway we’re gonna be getting any bullish momentum that’s going to be lasting is getting back above that breakdown level and starting to hold a little bit like Bitcoin here for that 30k level it means To get back above that 30k level and hold before we can expect any kind of higher prices but of course until then there’s a fair bit of room in it to see some kind of relief bounce up until that 2050 bucks there for around numbers we Can also draw a 50 level from the current top down to this current low of course we do if we do get a lower low we have to adjust this tools whoever that load does fall but for now it comes in around two thousand and fifty dollars Which lines up rather nicely with these old bottoms and of course this neckline from The Head and Shoulders pattern I was just talking about previously so overall we have those levels overhead to be looking out for if we get some kind of relief bounce up until around 2050 Still not getting overly excited the next downside Targets in the immediate sense are just over 1900 bucks and of course if we’re dropping below 1900 bucks below these old tops and 50 we have those old tops at around 1850 that you can see right around here as an exit Area on the downside over to Solana now Solana we had that clear level at 24 bucks that obviously broke down and the price has dumped very very quickly now that 24 was a key level we’ve been talking about it for ages it was this previous top that we saw on the 20th of March and of course breaking down below there we saw a rapid sell-off in the market now what we’re also covering what I’ve been covering for you guys over the last couple of days is the fact that Solana did have nine consecutive days up on our daily time frame now I don’t Actually need to change the chart for you to show you this is the four hour chart but you can see this red line going from bottom up to top in one continuous line that is the Tia again swing indicator where we can have multiple time frames on one chart you Can see here it’s enabled show Swingline I have it set to one week that should actually be one day there you go fix that up for you guys so it’s actually going from this bottom here up to this swing top there and this is nine consecutive daily bars on our swing Chart whenever we see consecutive bars of seven bars or more no matter what time frame we are looking at we can expect a rather big reversal in the market and since we had nine consecutive daily bars it’s always a warning sign for the Bulls or at least for the Continued higher prices because we would be expecting a bigger picture decline upon that confirmation so we got that sell off we got that that signal playing out true to form as we often see as I’ve shared with you guys many times and I’ll continue to show you guys on the channel But essentially we got that sell-off after breaking below that key level at 24 bucks after nine consecutive bars this consolidation was not able to hold we did not get any more breakouts on our swing chart to the oversight and of course the Bears have taken back control But that’s enough about the past but the reason why it is so important to talk about the past is because we use our hindsight enough it will become our foresight which is what I hope you guys are starting to see by looking at these examples over and over again but Essentially what we’re looking at now is support right around 22.50 which is our 50 level coming from this top down to this last bottom and these halfway points often act like magnets when the price is falling we’ll often expect some kind of support to come in around these Levels just like when the price is rising we can expect resistance around the 50 levels but at least here we are at 22.50 getting some temporary support now you can also see the wick on this big sell-off bar did come right down to those old tops we did get some support Come into the market now we have a couple of key levels to be looking out for in terms of downside support of course we have a 50 and we’ve also got our 22 bucks if we’re not getting any support around these key levels then I do think we’re getting a pretty clear Sell-off down to that next support zone right around 20 bucks where there’s heaps of consolidation now I’m not getting bullish on Solana just like the same pattern as the other markets until we can get back above that breakdown zone of 24 bucks any bounds up until There is just more of a relief rally bounce it’s only going to be once we can get back above 24 and start to hold that next breakout will be getting Solano at least the odds are in favor of Solana getting to that new high above 26 bucks And retesting that 27 resistance area so at least for now we just have to see what kind of Bounce we do get if at all or if in fact we’re getting a continuation to the downside to those next targets I can also draw a 50 level For you from top down to bottom you can see how that comes in at that even twenty four dollars giving more reason to be expecting resistance so not only do we have this old top from March we’ve also got these old bottoms we have our 50 level and we do know that old bottoms can become new tops in the market in terms of resistance so definitely Mark 24 bucks up on your screen for Solana over to cardano now now cardano is also putting in a sell-off down to those levels we looked at in yesterday’s video Basically exactly to our trend lines you can see the trend line from these tops I’ve had this on the chart for ages for you guys marking up a key area of support and resistance now we had resistance now we’re actually getting support now what we also have for you is A yellow trend line I started sharing with you guys earlier in the week to be looking out for some support and resistance as well so with technical analysis when you get multiple levels lining up such as this and this they act as stronger areas of support and Resistance so it’s no surprise to see the price stock basically dead on the intersection of these trend lines intersection actually took place right around the the top and while I won’t be going to it in this video when we can get intersections of key trend lines and Other kinds of gear angles we can actually see changes in Trend and of course that’s exactly what we saw there in terms of the timing mark the top it did dump down Fine support right on the line so a lot we can be unpacking in terms of what kadano is doing right now But in terms of other areas of support and resistance we can also see how we have these old tops acting as new bottoms giving another reason that this is a very strong support zone or at least a key support zone for cardano if it breaks down it does show the relative Weakness in the market but you can just start to see why the price has stopped temporarily right around this level now in terms of next areas to break out overhead before getting excited about the bullish side of the market of course we have that breakdown level we have our 50 level as well as you can see right around this 43.5 cents actually a little bit below is what I am looking at in terms of these bottoms and also this consolidation Zone you can also see another bit of a head and shoulders pattern playing out in terms of that Breakdown and that acceleration in the downtrend but essentially markup around 43 and a half cents anything up until around there is just more of a relief rally in my opinion before coming back to retest some lower prices now if we do break down below these trend lines these Old tops it is putting cadana into a very very weak position and I would be anticipating a breakdown below 40 cents coming down to that high 30 Cent range where we have to then reassess as to what the market action is doing so overall for cardano of course we’ve had A sell-off across the board we had those key breakdown levels we’ve had a bit of timing stuff going on as well and essentially we just have to wait and see in terms of this next bounce if we get a bounce if it’s just a relief bounce or If we’re breaking back to some Higher Ground to be anticipating another continuation to the upside now polygon also broke down from its consolidation Zone very clearly we were looking at this in yesterday’s video we did not get that breakout overhead the prices just continued to range before dumping down To our trend line and also at 50 where we have been seeing some support in the market so it really doesn’t have to be too complicated we have our lines in our chart ahead of time then we look out for those breakouts or breakdowns and essentially we had that breakdown Dumping below the support and also below our trend line and we’ve just continued on to that next support Zone and these old Bottoms in the market just below one dollar and ten cents actually coming down near to that one dollar and eight cents as you can see there so in terms Of further weakness of course if we do start to see continued closures and lower tops below this 50 level there’s a very high chance for coming back to retest around this 1.6 rather one dollar and six cents as an intermediate level but more importantly around 1.4 as you Can see by this bottom in the market so mark them up on your chart for the downside now in terms of getting bullish for Matic you should really be seeing what I’m seeing by now in terms of needing to get back above its breakdown level and also it’s 50 coming in at one Dollar and fourteen cents Just a Touch below but anything up until around this level here is just a relief rally in my opinion coming back to re-test if we don’t get that breakthrough it’s likely going to come back to retest this 50 level and potentially even go lower so Mark up 1.14 on your chart if we can get back above the 50 and the trend line I do believe that next breakout from that point is going to be getting Matic Beyond those old tops coming back up to that 1.22 is an intermediate level and Potentially up to its big picture at 50 at 1.26 and also these old tops now we’ll get to this most important level for the total market cap in terms of Market structure this big macro bullish player we’ve been talking about we’ll just touch on the US dollar first and This is the daily chart of the US dollar and part of the reason why we’re getting some pressure in cryptocurrency is because strength is coming into the US dollar at least in the short term we have our macro support level as you can see by the bottoms from May 2022 February 2023 you also see how we have this trend line on the downside acting as support but of course if we’re getting a higher US dollar that means anything priced in US dollars is going to be feeling a little bit of pain and essentially we’ve had a few solid days Up from the low putting some pressure on other asset classes including cryptocurrency but the key level overhead on the short term is around 103.2 by the way over 50 level and also breaking back above this little channel so if we are going to be seeing continued high prices in the US dollar In the short term I’m anticipating further weakness in cryptocurrency and anything price in US dollars or perhaps even the stock market as well be seeing a bit more of a correction but of course I’m going to continue to keep this chart up to date for you guys on the channel But as long as the US dollar is holding above around this 101 it is sitting in a short-term position of strength and I am anticipating a breakout overhead to put more pressure on these other asset classes now finally over to the total market cap the most important price Level in cryptocurrency now as many of you will know I’ve been bullish on cryptocurrency for quite a long time paying special attention to bitcoin of course being the king out there but essentially after we got that dump into June I was saying that in terms of Market structure and pattern it could be The low but the timing wasn’t quite right there was a chance it could be the low but of course I was saying if we did go lower it would not go lower in any meaningful way we could be seeing some Wicks but nothing major below that June Low and essentially we did get a double bottom with the June light in November and the prices continued up from there so I have been very bullish for quite a while or at least expecting the bear Market to come to an end price is stable out and of course go through some kind Of transition period and essentially that’s what we’ve been been saying so this Orange Box is the big picture transition period I’ve been talking about lately and of course here we are still within this box so as long as we are within this transition period there’s a chance we could be seeing lots Of chops and changes in Trend before obviously all the Bears that will eventually flip bullish when we get that next breakout but it does take a little bit of time but in terms of Market structure macro bullish what needs to happen in terms of changing my sentiment To bearish the most important line I’ve shared this once before is actually breaking back below that old bottom from March of 2023.if we do see price action break below that March bottom is changing things in terms of Market structure and maybe we’re going to be putting in new lows below the November Low so in terms of what could happen until then we could be seeing any correction in the total market cap down close to that bottom and still obviously hold up and I’m going to be remaining macro bullish expecting the bigger bull market to eventually start when we get Out of this transition period so it’s about a 30 move from its peak to get down there and whether or not that happens of course that’s anyone’s guess but in terms of Market structure as long as the price price stays above this line which is also above some lows that we Could see from September of last year above that old top in December and above that bottom any price action above here it is still holding together the macro bullish play for the total market cap for cryptocurrency and of course Bitcoin being the king is going to be taking a Lot of those gains as well but Mark up this line right around 880 billion dollars for the total market cap because it is the most important level at least by my analysis for cryptocurrency now if you haven’t already check out that free series on YouTube I have a playlist There that teaches crypto Short Selling leverage a couple of trading strategies too so check that link out in the description below along with those other sign up bonuses and perks and also if you want to learn a strategy I teach the members that bought Bitcoin just above 28k sold around 30k definitely check out the memberships that we do have to offer I have a master class coming up for the premium members which is really a must-see for anybody series about trading and that’s only one masterclass in addition to the other courses and strategies and tools and techniques we Teach in there definitely check that out also check out our free Community Discord as well there’s a link for it in the description below but I’ve had a massive update for you guys bigger than usual taking a look at the next breakdown zones for Bitcoin what needs To happen to get bullish also the macro Market structure the most important level for cryptocurrency we looked at ethereum Solana cardano polygon and the US dollar but that’s it from me today hope you’re saying happy healthy and well and until next time I’ll catch you then Foreign 🏆 The Investor Alpha Free Newsletter: https://tiacrypto.com/subscribe/ 🏆 TIA Gann Swing Indicator Tutorial: https://youtu.be/GOCCz8fmLI8 Before Continuing, Read The Following Financial Disclaimer & Warning.1.I am not a financial advisor.The ideas presented in this video are personal opinions and for educational and entertainment purposes only.You (and only you) are responsible for the financial decisions that you make.
2.Most traders lose money.Trading of any kind is dangerous, and most traders show a net loss over time.3.Do not mirror trade me or anyone else.Mirror trading is extremely risky (see 4.) 4.
Buying low and selling high or selling high and buying low can still produce a net loss over time (position size is a major factor that determines profitability).Always prove profitability in a simulator before trading with real money.5.If you do not agree to the above or the terms and conditions found here: https://tiacrypto.com/terms-and-conditions/, you should not continue watching these videos or any other information provided in content, videos or sites.
LIMITED TIME! (Ends 16-May) Bitget: https://bit.ly/BITGETTIACRYPTO New Users: KYC & Deposit $100 to get 10% Cashback (up to $200 Bonus in USDT).Bybit: https://partner.bybit.com/b/pizza New Users: KYC & Deposit $100 to get $30 Bonus in USDT 0% Maker Fees for the first 30 days! Swyftx Free $20 (Best Aus/Nz Crypto Exchange) → http://bit.ly/401O3wI Helpful Resources & Official Links: Become A TIA Member! https://tiacrypto.com/#join-now The Investor Alpha Free Newsletter: https://tiacrypto.com/subscribe/ Free TIA Community Discord: https://discord.gg/BDZfgyRsmA TIA Gann Swing Indicator Sign-Up: https://indicators.tiacrypto.com/ TIA Gann Swing Indicator Tutorial: https://youtu.be/GOCCz8fmLI8 Learn Crypto [Free YouTube Series]: https://bit.ly/3zsVxhL TradingView, Charting Software: https://bit.ly/3O9UoiM Official Instagram: https://www.instagram.com/michaelpizzinotrades/ Official Twitter: https://twitter.com/PizzinoMichael UP TO $38,775 GIVEAWAY! 🥇 ByBit Free $30,030 (No-KYC for privacy) → https://partner.bybit.com/b/pizza 🥈 Bitget Free $8725 (Global Users No-KYC) → https://bit.ly/BITGETTIACRYPTO 🏆 Swyftx Free $20 (Best Aus/Nz Crypto Exchange) → http://bit.ly/401O3wI 🏆 Trezor Crypto Hardware Wallet → https://trezor.go2cloud.org/SH28 ^ Get Your Crypto OFF Exchanges! ^ ⏰ Timestamps 00:00 Have Things Changed? 01:19 Bitcoin BTC 04:15 Ethereum ETH 07:03 Solana SOL 10:21 Cardano ADA 12:37 Polygon MATIC 14:09 US Dollar 15:19 Total Market Recap 17:27 TIA Shill! #cryptonews #bitcoin #crypto Affiliate Disclaimer: Some of the links on this page and mentioned in these videos are affiliate links, meaning, at no additional cost to you, I may earn a commission if you click through and make a purchase and/or subscribe.source.
