Hey yo, what’s the good word with my people the Chico Army, and if you haven’t subscribed,
you're just a viewer of the tube.
My name is Tyler and welcome to the crypto channel that just like this guitar riff….welll
grand dadgum it! that was killer, like this coming episode... it’s time for Chico Crypto!
Now I know, I know everyone wants the markets, to get a moving, a running & significantly
blast off, but a cool off isn’t necessarily a bad thing.
Like I have mentioned, we are in an area for the Bitcoin price which is unknown territory...above
10k.
We haven’t spent much time above this level, in the scope of BTC’s history, and even
within the past 2 and a half years, we have spent less than 6 months added together above
it.
But this recent run, crossing the mark, from July 26th to today, that’s 32 consecutive
days above...that’s actually the longest consecutive streak in the past 2.5 years.
Now, even if we dip, another 1k, down to the low 10k levels, if we stay above it, it’s
bullish, as the price is finding its new ground.
But, everyone knows that CME Gap, before this BIG ole bullrun began, the one at the 9.6k
level...if you search crypto twitter, by CME gap, everyone is talking about it…”
CME future gaps in 9K's. 9/10 times this gap is filled before a major bull run.
Hopefully we may see 9Ks before 14Ks” “CME gap is at $9665 EyesFace with cold sweat these
gaps get filled 91% f the time” “Btc will fill the CME gap at $9575 and eth will drop
-30% over the next few days so all alts will drop too, so I would hold back for now and
look again on Saturday”
Yikes, that would be a very, very significant drop, from yesterday’s level of 11200 to
9600, that’s a nearly 15 percent thrashing of the markets.
Is it going to happen?
Well, no one knows anything for sure...but we can look back in Time, and compare the
past, to get a better idea of what could happen.
Now the runup from March to June of 2019 was outstanding...BTC went from the 3.5k, then
got above the 12ks, and peakin around 13k..nearly a 4x
So this time in the crypto markets, was very similar to today, a certain coin was leading
the alts.
Chainlink...in the same time, went from the 40 cent range to over 4 dollars.
Nearly a 10x.
And using coinpaprika, and wayback machine, during that time, setting it to July 8th,
just after their peaks, we can sort by best performing coins, in the past quarter or basically
4 months, encapsulating, that run from March to June 2019.
Top coins, are some random alts, like realtract, egretia, xmax, clipper coin, and japan content
token….but the leading major altcoin?
Was chainlink…
So, if you couldn’t tell, a very similar thing has gone on with this run, time scale
is a bit more spread out...last run happened in a quarter, 4 months & this one has taken
about 6 months.
Bitcoin, went from 5k to 12.3k, nearly a 2.5x...not as significant of a jump as last time either…
But, that certain altcoin, Stinky link, is leading the charge.
Over the same time frame, it went from a low of around 1.80, to a peak of 19.50 cents a
neary 11x...that is very similar to last time...wouldn’t you say?
Now going to Coin Paprika, and once again sorting by top coins of this quarter, I wish
they had a feature for 6 months, as that is what we need to look at, chainlink had already
surged a good amount so we are missing some percentages...but even with that surge not
added in, Chainlink is still at the top…
But this time, things are different regarding the altcoins, also surging...most of them
have everything to do with, DeFi..aave, thorchain, elrond, reserve rights, synthetic, ocean protocol,
band, swipe, kava...literally a DeFi smorgasbord.
Soooo, what happened after?
Well looking at Bitcoin chart, within just 21 days after the peak, we dipped and bounced
off of...none other than..9.6k?
Duh Duh Duhhhhh……
Chainlink in the same amount of time, dropped from that nearly 4 dollar range to 2 dollar
and 21 cents, a loss of 42 percent.
So if 12.2k, was our recent peak, hit on August 17th, we’re just 10 days in since...will
it be around another week & a half, before that fabled CME GAP is filled, and we bounce
off 9.6k?
Will Chainlink, drop another couple bucks from where it was yesterday, around 13.68
cents to the 11 dollar range, a similar 42 percent drop?
Well obviously people think so...red days, after red days, for the past week and a half.
So, from the thrashing yesterday, of course it was longs that got liquidated, on Bitmex
alone, over 32 million notional value, 24 hours for the day.
Not bad, Arthur...and pulling out the liquidations over the past 14 days, encapsulating this
entire run and deflation...of course it’s obviously, majority longs in value, over 160
million, compared with shorts, which is only 83 million.
But now let’s spread it out day by day, as we can see the long liquidations, were
spread out over the course of time period, while longs, majority came in just a single
day...August 16th.
What happened that day, BTC had a big single pump from 11.8k to 12.3k...just a pump of
4.2 percent, and that liquidated, many shorts.
So what I see & I may be so wrong, is the shorters are getting set up, and set up big
time.
There are so many people, that think this CME gap will get filled, and think it’s
a shoe-in, they are setting up their shorts yesterday, when I wrote this video, and if
the markets are going sideways, ore even further down today, they are setting up more….all
it will take is a single candle whale pump up, to liquidate a flurry of them.
Like I’ve been saying, those who are in control of the crypto markets, the leverage
exchanges right now….the unregulated exchanges, not CME and their bearish GAPs, they decide
where the markets will go.
This is easier seen, when looking at futures volumes, with Bakkt and CME, versus the top
unregulated exchanges, OKEX, Huobi, Bitmex & Binance.
Bakkt is the pink, you can’t even see it..and CME is the yellow, barely a sliver.
But also, just look at the trend of the volumes, it’s on the way down, and this is a 1 month
chart….since July 25th…
This means, more volume was being traded and setup, on the way up, than on the way down...it’s
in the exchanges best interest, to get another run going...that is just my personal opinion.
But we gotta speak of, what could nullify that run & it has nothing to do with anything
inside the crypto markets.
Finance 1.0...it was a shake & bakeup yesterday, as one of the world’s largest companies,
was dropped from the DowJones Index, Exxon Mobile, ending a 92 year run with the Dow.
Exxon was dropped, and 3 were added, SalesForce, Amgen & Honeywell...all science and tech companies...is
this, a sign of the times?
Oil is out & the future is here?
Well it is...2008, Just 12 years ago, Exxon was the praise of the markets.
CNBC covered it saying “Exxon's Amazing Stat: Market Cap Of $400 Billion”...it was
once the largest stock in the S&P 500, and the CNBC said this about it...its a safe haven,
has a great balance sheet, and it’s not going anywhere...well anywhere, except out
of the DOW and down, as market cap, is now barely over 170 billion.
But the stock market, it bounced yesterday...yes this news rocked the DOW initially, but it
found a bottom and went up...the crypto markets, just kept going down...pulling out an updated
chart, cuz literally as I was writing the script, we fell under 11.2k.
So, if you watched my video yesterday, there is no reason for stocks to significantly fall...private
equity might just get an open door to 401ks, and private equity has been eyeing blockchain.
So if stocks bounce, this in my opinion is a short setup, a CME gap believer setup...meaning
a single candle green dildong, could be coming soon.
Cheers viewers I’ll see you next time!