Bitcoin – BTC Harmony – ONE The Coming Bitcoin Collapse | No One Is Listening To Price… Until what’s going on everyone my name is Nicholas Merton here from data Dash and today is June 12th of 2023.well folks I hope you are having a fantastic day wherever you are because in today’s video I want to spend some time to zoom out and look at the long-term picture Here not only for bitcoin’s price but on top of that the altcoin market especially as we’ve been seeing a major bloodbath in the altcoin space as we’ve been calling for for the past few months so I want to spend some time here to break it all down take a look at the Long-term picture and if you guys happen to enjoy my rambling here consider dropping like it’s one of the greatest ways you guys can support the channel and let’s go ahead and start off the rambling here I want to go ahead and kick things off by keeping it to the Monthly time frame as well as the weekly time frame from the vast majority of charts we’re going to be looking at here today and we better start off as well by looking at Bitcoin because Bitcoin has really been the market leader out of all plays in the market it has been the safe Haven people have been running towards during this kind of relief Rally or pickup in price since back in January since we bought them gotta run this kind of fifteen thousand sixteen thousand dollar range rallying up towards around Thirty one thousand dollars in April and when we hit that big even level Thirty One thousand dollars we’ve continued to correct lower and lower month by month roughly around five to six percent each month so far we’re just Midway through the month of June here so we need to ask ourselves whether or not we are going to see some pickup here well the important Thing that I want to bring you guys back to here and again I’m a man of my word here with my indicators I’m not someone who solely trades off of the indicator alone but I do believe it is one of the biggest catalysts for me to either Decide to go long or go short in the market and if we take a look at the resilient strength that we’ve had here since January I’ll be honest it was definitely a big move here almost 100 move from that bottom point if you would pick the bottom exactly which I would Assume practically no one will other than the trader who got it the point here is that we had about 100 move in price and even with this acceleration within a relatively short period of time time we have not been able on the monthly time frame to get a blue flip a bullish Flip here showcasing that the trend is ready to move to the upside now we talked about this back in April as a worrying sign here that we had accelerated so much in the month of March but still even in the month of April could not get that flip and the Reason why is because we did not get to the pivotal point in price for that month where indicator would flip blue and we have continued even though we have still held I think relatively sideways the majority of those gains right albeit we are going down we are Still not able here to cross that pivotal price point which again is getting easier over time here according to our momentum indicator for Bitcoin to be able to get that point it just has to be able to continue a little bit more and then we would have that continuation signal the signal the New bull market has started and this indicator has worked great for us here according to history this is not some you know back adjusted indicator again as you all know we’ve talked about this before this is a Time tested indicator that has been around for decades in Financial markets and on the longer term time frames it is great at determining when new bull markets start here for crypto it got you in here a November 2015.we got you here in December 2011 and also here in April 2019 or in April 2020 right as you can see here when we Get the blue flips so it is important to focus on these long-term time frames and when you have indicators that are incredibly consistent signaling to you that we do not have that same optimism here after a 100 move that should be sending alarm bells that should be telling us something really is different This time what is different though versus the last decade why are we not seeing this continuation of price well the reason is is because we didn’t not only have anywhere near as strong about the momentum in the last bull market but on top of that this bear Market here is Going to be chock full of relief rallies it is going to be having short periods of time with your optimism and the market but not enough to really carry forward a new bull market because of the fact that we don’t have the liquidity we don’t have the same optimism of the last Decade the FED is Contracting liquidity now the indicator is not picking up that macro Factor but it’s picking up the price action and price is telling us everything we need to know here folks it’s telling us everything we need to know and we need not look further than The altcoin market to know that we’re entering in towards a town of pain here over the next couple of days guys train a pain is coming here towards the altcoin space and it’s just starting to play out of my opinion now we might see some bounce up here in the next day or Two people buying some of the dips but I gotta tell you guys this is something that’s going to continue to play out for some time take a look here at over the past few months back here in the month of April down over 11.6 billion dollars This is just the all coin space we’re excluding Bitcoin excluding it excluding stablecoin liquidity which by the way is flat which is not a good sign whatsoever is the on-ramps are starting to get Frozen and institutions don’t have a way to inject new liquidity into the space But once more the next month here in the month of May a 22.7 billion dollar decline here in Auckland market cap and then here in the month of June one of the biggest declines we have seen since as far back here as December of 2022 during the capitulation around FTX and Over 40 billion dollar decline in altcoin Market have taken us down to right under 200 billion dollars that is a far cry away from where we were back at those Highs at a trillion dollars 800 billion dollars a market cap wiped up the map now a lot of people would say Hey Nick it’s an 80 discount I want to take that opportunity but I want you guys to remember here first off how important it is to understand the difference from a top to bottom decline of say 85 to 85 percent ninety percent and the reason why I’m being exaggerated with my fingers here To such a large extent is that there is a huge price difference between these levels I want to go ahead and just demonstrate that for you guys here for those of you who might be trying to buy the dip here right that 80 opportunity what is a 85 opportunity look like right Okay around 200 billion dollars or 207 billion would be an 80 correction but if we take that to 85 percent that’s a 147 billion dollar market cap that’s another 50 billion dollars in market capitalization correction well how about a 90 correction right that takes us down towards 100 billion dollars so each of These five percent declines here we’re talking about you’re basically paying roughly speaking and don’t completely quote me on my math but generally speaking about 33 premium been a huge premium if you’re trying to buy the dip at 80 when a reality price can go to 85 90 now I’m not saying you need to completely wait for that price action dollar cost averaging could be a powerful tool getting more aggressive with your dollar cost averaging into corrective periods that’s what I like to approach it and again there are going to be certain plays here that are going to Start to signal strength during this capitulation it has a big point I want to talk about here if you guys want to know now we’re giving a lot of free content here this is the kind of range that we are looking for to start acquiring all coins when we’re roughly 90 down here towards this 100 billion dollar market that golden line is is really what I like to kind of have as my average entry point we may not get there entirely it may be a little bit more a higher price for our average entry and that’s fine but that’s kind of the Target ballpark we’re looking for here now while I will share this with you guys it is important to note that if you want to follow what all coins we are going to be picking up at the bottom which plays we’re going to be scooping up which ones we think are serving as Market leaders according to price action their fundamentals and if you want to get access to things like our momentum indicator here so you can use this not just on bitcoin but on a whole range of assets on different time frames you guys can get access to that to our exclusive Newsletter the dash report now for those of you who haven’t heard about it just yet I’ll have a link Down Below in the description you can get 20 off on an annualized basis this is our newsletter here on the channel we’ve tried to slow the bit steadily move away from doing Too much sponsored content here on the channel we really want to focus here on doing the newsletter and this is our main way where you guys can get juicy information beyond the free content we put here on the channel you get access to a 20-page report every month the dash Report discussion group we can talk with other dashboard members and ask questions share content but on top of that you guys will get access to our private momentum indicator here you’ll get access towards a whole range of resources such as our mid-month webinar where you can ask me questions and you Can coverage not just on crypto but on the macro scene here and which all coins we’re going to be looking to buy so if you guys are interested again you can get 20 off on an annualized basis if you check out the link Down Below in the Description but I want to go ahead and continue to build on this topic here guys and really dive into some of the all coin plays here that we’ve got to keep an eye on here now you guys may recall all right and I’m not here to Just say I told you so or anything there’s a lot of you who have been in cash and even for those who are in these positions I know it can stink uh but you know it’s again important here to to hear out the other opinion that might be On the other side here and see if you can get some valuable information on it you guys may recall for the past couple months since back during January when Salata pumped up from around eight dollars and you know 20 cents up towards relative highs of 26 dollars we warned People especially as we sell the sideways price action here that this is a fake pump this is not real there is no increase in development in the Solana Community there are no people who are looking to really grow Salona long term maybe there are some developers some good-hearted people but the vast Majority of the Solana ecosystem was artificial growth artificial number numbers in their TV all our total value lock yeah so much of it was just absolute noise and the VCS and the kind of capital entrances that actually build up the financial backbone to a lot of these ecosystems they they were unloading back Here guys they’re out of the picture they made their money they don’t care about Salon users they only care about building the narratives and trust me I remember back in 2018 when everything was quiet they were the guys starting to build up positions in these plays these VCS were getting ready for the next move and they got really lucky considering the covet stimulus that came in and all the rampant speculation and they made a crap ton of money plain and simple it’s the name of the game with some of these VCS guys you got to be careful and Look at what happens this month down 26 from those prior Highs at around 27 for those who fomo in at the top half year you were either Break Even or now down in the red and that stinks right that stinks to see that but it’s not just Solana here I’m Not just here to run in Solana Matic as well right again much higher than where it was back in June I’ll give it that still 100 up here from where it was back in those competitive lows if you bought in at that range that’s the thing I Really hate hearing is people say oh Nick you know you really missed this pump on on this or you didn’t buy this and stuff it’s like yeah did you buy it did you buy that exact price level I’m really tired of hearing things like that guys and that’s the kind of petty Behavior that happens when you’re starting to realize that the narrative you’re chasing doesn’t hold weight it’s just it’s one of the stages of grief that you start to run into when you realize that hey wait a minute maybe I’m Overexposed take a look here at manicure while it Had made a major acceleration from its lows 33 cents all the way up towards a dollar fifty not bad if you can get it almost in this case a 4X evaluation right excuse me yeah four or five x value we should increase right ever since then back in February we are now down Coming up here on 66 percent is that bull market activity to us is that new all coin cycle kind of material no we just had our worst month here 28.5 down and look at our indicator showing very clearly since back in April and May that this is a bear Market we are not Ready and look what it does here when we are in a bull market catching a blue flip here right before the Bitcoin the big move here on names like mac that went from around four cents all the way to three dollars I’m much more interested in capturing that Wave than trying to time bottoms I’m much more interested in seeing which plays are actually Market leaders not Market laggards that are going through a massive distribution phase and I’m certainly not happy to promote you guys to go out and buy these things right I’m Not here to push that kind of stuff I’m here to mention when I’ve got skin in the game when I see the momentum in and when I see the signs of a new bull market it is going to be very challenging this time though guys and it Is going to hit all plays because we do not have the Federal Reserve to come save us each and every time like they used to take a look at cardano as well down from three dollars all the way towards 28 cents over 90 correction sounds like the great discount Opportunity of a lifetime well again bear in mind the difference between a 95 versus 95 correction we have had a red flip since back in April of 2022 and if we get that 95 dip that is going to be giving you an opportunity to get cardano At 15 cents versus the 28 30 cents that we’re roughly at now and again I know a lot of you might be thinking I’m bashing the projects and stuff I’m mainly focusing on price action here but if you do want to talk about fundamentals here and I understand Many of you are in the same ball cam sorry if I sound a bit like over the knob about it but I want to be realistic here this is your guys money here and think about it what are these projects doing right now that is really going to Buck the trend get people excited about crypto I can’t name one D5 because I do a lot of research I’ve been doing that since 2016 and 2017 when I got into crypto I’ve been doing that in traditional financial markets I’m looking for for some straws to hold on to to get excited About this space and I’m not seeing anything right now what I am saying is a major pullback here that is going to give us a capitulation opportunity of a lifetime and if we can be patient enough and have the liquidity ready on standby and not get caught trying to you know trade Leverage trading or do all kinds of ridiculous things you know going in an all all risky kind of meme coins you know that’s the kind of stuff that’s going to trip you up if you can avoid that you’re going to get to buy in at some really cool prices and Ada in this Case will still have been setting a low much higher more than 10x from its prior lows in the last bear Market it’s not a big ask considering I can’t name any time I needed to engage in the cardano ecosystem sorry no offense to Charles no offense to Ada fan holders you know It’s just the reality here D5 fell really flat in its face not just in ethereum but in all the other alternative layer one ecosystems how about the layer twos here arbitrary optimism well arbitrum dropped 12 the other day and is continuing to do it on no buyers coming in on that dip Right last time we had this right when we had these kind of pullbacks buyers started to come in at least all the prices they’re not doing that this time we are now down over 50 from those prior highs almost 50 here roughly speaking how about optimism well optimism of the Monthly time frame shows us we’re down from three dollars and 28 cents all the way towards a dollar and eleven cents back where we were roughly uh pretty much wiping out all the entirety of the gains back in January yikes that is not good to see these are The plays we should be supposedly getting excited about the layer two plays scaling plays they’re relatively small cap plays with a lot of big potential and buyers aren’t taking this discount opportunity in fact every single month we’ve been grinding lower here what’s going on here that’s not the narrative I’ve been sold about Let’s go ahead and keep looking right we got a couple more here I want to take a look at BNB right after all the the kind of Calamity we’ve had this past week with binance and you know coinbase in the SEC you would expect that if this was all kind of noise right We’d be seeing BNB pick up but day by day I mean since back here on June 5th I mean just coming up on a week now and we are still seeing corrective forces at play here which tells me that maybe the kind of things that the SVC Charged on the surface or maybe just the tip of the iceberg maybe there is something much bigger here and if that’s the case that’s really bad news that’s really bad news for the crypto space because if binance does have some serious faults at play here that’s driven price down here to its lowest Level in line with where it was back near February of 2021 if we break this line and head down here towards 142 that’s not only billions of dollars a month account wiped off even if it is all just noise Finance is going to be okay but if Finance is not okay And this sinks you’re talking about not only tens of billions of dollars of crypto market capitalization the third largest crypto out there if you’re excluding stable coins the third largest crypto in the market going to practically nothing like ftt token yeah FDX too right if buying s goes under the largest most Liquid Exchange in crypto for whatever reason that is going to be absolutely terrible for the space I’m not saying that that’s going to happen here what I am saying is that it’s very likely that the fear continues that the market is not in a good mindset for a while investors start to take Advantage of the returns they made for a long time and maybe new buyers come in here at around 140 150.probably the more likely scenario the crypto doesn’t die that crypto doesn’t completely fall throughout as an industry but we need to get better capitulative flows it’s not just because I’m shorting the market or anything guys I’m not shorting anything right now we don’t have any official short positions yet right we are definitely looking at building them very soon with the key momentum indicators that are signaling here that it’s time to get ready but I Got to be honest with you guys I’m not here to just badge your price because I’ve got short positions I’m just letting you know what I see in price I’m in cash right now right as we have been since August of 2022.now this leads us towards look at some key charts Here because I know a lot of people say Nick okay fine cardano Maddox learn all these names let’s say they’re they’re heading uh for the Dustbin for a while until the train gets better but what about Eve right you keep talking about the altcoin market specifically but what about ethereum right Eip1559 he’s staking aren’t all these things going to help ethereum Buck the trend and it has been one of the more resilient plays behind Bitcoin well I think that that’s well a fair question we’ve got to take a look here at the chart guys and take a look back at our Momentum indicator and just like Bitcoin you will see here we did not get the blue flip and we are moving lower as we speak and again to that question about you know what about all those things that should be supporting ethereum’s price well the problem with that is because While eat staking may be great while eip51559 which burns ethereum as people utilize the network for transactions all of that is good just because if maybe deflationary even with all those elements it does not change the fact that the much bigger question we need to ask ourselves Similar to the having of it for Bitcoin is as of the existing supplier they’re going to be much more buyers or much more Sellers and if we are going to have much more sellers that means ethereum’s price is going to go down there is no Other way to cut it here guys and we are going to get not only potentially an opportunity very likely to buy back where we could have bought back in January as many people pointed out oh you could have bought back in June of 2022 but on top of that as well I think We’re going to get proper capitulative lows and a correction that is weaker than the last correction of the 2018 bear Market all I’m asking for is around 400 each to 500.that’s the target range right so that’s the key Point here that I want you guys to think about here that these Things can go a lot lower and if you can’t stomach that if you don’t have the capital to really continue dollar cost averaging in at a lower price you could end up buying positions that don’t get back in the profit zone for a long time I want to go ahead and close things off here guys because while I understand a lot of people don’t like Gary ginsler I know some people are going to say oh you’re paid by the feds Nick you’re this that because I don’t come on seriously like stop with all the insults and the Kind of petty stuff here I’m not a supporter of a cbdc I’m not a supporter of any of these kind of things but we can’t deny here that there is serious things that went on over the last couple years that Regulators have a justification to step in on and we are Seeing tokens being delisted from plays like Robin Hood following these allegations from the SVC you know they’re not trying to stand up against this you know and there’s probably good reason because when you have people like Kyle Kyle Davies and suzu founders of three hours Capital going on the New York Times For personal interview and talking about oh you know we’re living in Bali in Dubai and you know we’re you know spending time surfing and playing video games keep it casual and you see no remorse from guys like these who basically through rampant speculation deceiving investors lying to people Wiped away billions of dollars of value by being Overexposed into one altcoin this was once you guys just just you know again like take a step back here I was thinking about this really over the past weekend these were the guys who like supposed Mavericks are like the heads of the crypto industry They came up out of nowhere similar to Sam from FTX right I remember when they were like nobodies in the space and then they became the new crowned Kings I’m not here to say I’m like I don’t want to come across as jealous right I don’t really care I’m making a point here Which is that this shows that there was some real criminal behavior in the crypto space over the past couple years some people got away with blatant murder I’m not saying that we as individuals don’t hold any responsibility for rightfully do to a large extent many of Us got a lot a little too greedy for unlike and if we’re really being honest with ourselves but at the same time there were a lot of people who who outrightfully defeated they broke the law in many ways and they basically were living a life and still are living life where they Feel a lot you know it’s their fault I played the game I mean is this the kind of crypto that’s that’s going to go to a new bull market highs I’m not trying to be negative here guys you know I think one one really big misconception I’ve ran into over the Last more than a decade of me trying to investing and also doing YouTube here since 2017.is sometimes you got to be really optimistic when things are looking Rosy and good and you’ve got all the foundations and fundamentals for a bull market and sometimes there are periods of time Where some may be shining outside it’s a beautiful day where I live right now I’ve got family and friends uh who I love dearly I believe there is a lot of exciting you know potential maybe innovations that might be in the works like materialism in the next couple Years the world isn’t ending but it doesn’t mean that asset markets need to go higher it doesn’t mean that prices are guaranteed to go up and this is the brutal Awakening that unfortunately I think a lot of people are going to have to face here I know a Lot of people say oh Nick you relate to the bull market this and that and it’s going to be just like every other time and having and all these narratives guys we’re in a fundamentally different environment than where we were back over the last decade the 2010-2020 period was a wonderful Period for speculation a Stanley drunken Miller said one of the greatest trades of all time he said it was the greatest everything bubble uh he’d ever experienced in his training career everything was moving higher it was you could have monkeys throwing darts uh you know throwing darts at a Target And they would outperform most funds it was so easy easy times are over and I’m only trying to be honest with you guys that it is not the easy times anymore we’ve got to be smart about where we trade we got to look for opportunity in Other markets and that is a big reason why again we have the dashboard here right we’ve got a powerful Community where we are looking for these opportunities here we create a ton of great free content here on this channel and I want to help carry you guys forward towards finding those Opportunities and I’m not always going to get it right but we’ve got great risk management strategies and that’s what’s that’s what essentially allows us to make sure that we’re not going to lose our shirt we always come into things with calculated risk right and we’re doing Spa Market trades we’re looking at Options all kinds of different vehicles to try to trade the market and if you guys want to know how I’m going to be shorting Bitcoin at what price and then eventually I’m going to be rotating those profits ideally into averaging into Bitcoin and you guys can check out the link Down Below in the description but outside of that as well you guys if you just happen to enjoy this content if you like my rambling consider dropping a like that’s also a great way you can support me here but until the next video everyone try to keep as sane as possible in these Times and again understand here that we are going to a fundamental shift in the crypto space it’s going to be a crazy ride but I’m going to be here during Bull and Bear markets we’re going to be covering the opportunities and we’re going to be capturing that next bull market I can Guarantee you guys that take care everyone have a wonderful rest of your day time #bitcoin #crypto #cryptocurrencies Consider dropping a like if you enjoyed the video! 👍 20% off the DashReport 💹➡️ http://nicholasmerten.com/dashreport/ 00:00 – Intro 00:39 – Bitcoin Price Analysis (It’s About To Get Ugly) 04:33 – Altcoins Are Bleeding Big Time… 06:57 – How To Buy The Dip 06:57 – The AI Narrative Is Hype Driven 08:49 – SOL, MATIC, ADA, ARB, OP 11:38 – Binance Coin (BNB) Is Collapsing As We Speak… 18:20 – Is Ethereum (ETH) A Safe Bet? 20:15 – The Big Picture We Need To Face 20:30 – Closing Remarks Want to support the channel? 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