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Elon vs bitcoin: why is bitcoin falling?! buy the dip??? – Matt Kohrs

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Elon vs Bitcoin: WHY IS BITCOIN FALLING?!
Buy The Dip???
Let me know your thoughts on Bitcoin (& Crypto in general) in a comment below!
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What's going on moong, i want to make a really quick weekend: crypto update video for you, because, whether you love them or hate them, our boy elon, is back at it again. Bitcoin price drops sharply after musk teases selling. Honestly, i think it's pretty crazy that this one individual has so much power and influence, but in the end, he's kind of swayed markets up and down billions of dollars. So here's what just played out this tweet's from mr whale at crypto whale bitcoiners are going to slap themselves next quarter when they find out tesla dumped the rest of their bitcoin holdings with that amount of hate, elon musk is getting.

I wouldn't blame him and he had a one word response in d. So here's what happened because of that. Basically we dropped from. We dropped a good seven percent as i'm filming this and really, if we take a look at bitcoin, we've come off.

58. 000. All the way down to 46 000, not the best, but really, i kind of think it's a good dip buying opportunity. I want to go over some of the technicals, but just so you know right now: bitcoin trading, at 46, 000 ethereum coming off of 44 trading down at 35 dogecoin holding very steadily at 51 cents and cardano ada doing super super well coming off of 150.

All the way up to above 240, currently trading at 225 uh we'll talk about all of them a little bit, but let's start this off with bitcoin. So this is a look at bitcoin's four-hour chart. So, on a more of a medium time frame, the one technical thing i want to bring to your attention is right here. So from 58 000 down to 46 000, clearly bitcoin has gone lower and lower and lower.

But if you take a look at the rsi relative strength index, which is a very, very common technical indicator that maps out momentum when it's very high, that's a lot of bullish momentum when it's very low. That's a lot of bearish momentum so check this out as bitcoin has gone, lower. Look at what the rsi has done. This has gone higher, so this is a mismatch.

It means that as we're going lower and lower, there's less and less bearish momentum, aka more and more bullish momentum - and this is referred to as bullish divergence - means that there's more bullish momentum right here than there was right here - and this is commonly indicative of a Upcoming bounce. So for me i am a long-term investor in bitcoin and i like to buy more and more as much as i can on very considerable dips, especially when there's technicals that are supporting of an upcoming bounce and really beyond the fact that we have some bullish divergence Going on we're coming up on a very important level of support between 43 and 44 000., let me back out to the daily chart right here. We also have this trend line. Support between 43 44 bitcoin has previously bounced off of this.

So i think, there's a pretty good chance of this being a good dip buying opportunity. Of course, i'm not a financial advisor. I can't tell the future, but just in terms of really what's going on all this happening because of really what's going on with elon, specifically and twitter, and now talking about dogecoin and everything else and bitcoin not being the best crypto for the environment. I think it makes sense that it's going down, but i think at this point the bearish momentum is starting to dry up and i think a lot of people are going to start viewing this as like.

Okay, it's beaten down. It's a good time for reversion play. Um, only time will tell to see how this plays out, but personally, if we get back especially to that 43 000 area, i will be increasing my own position in bitcoin. I just think fundamentally um the overall fundamental case for bitcoin is still intact.

I think that this is a bit of an overreaction to what's going on in twitter and really the technicals are starting to support this bounced thesis. So that's what's going on with bitcoin to go through it kind of quickly cardano doing super super. Well, for those of you who don't know cardano it's it's kind of doing well now, because of the fallout with bitcoin people really now focusing on the fact that it's not the best for the environment well cardano, at least on a relative rate um, it's better for The environment, so i think people are liking that i mean recently look at this ron on cardano absolutely awesome up 108 over the past week alone, up 44, i'm happy to say that i do have a position on cardano in terms of ethereum. It did do better.

Let's look at this current high right here map this out for everyone all right. We are up to 4 380. Since then we are on a 18.8 percent decline from that high, but really from the start of this upward trend, rub a pretty noteworthy 125 percent. So to go up that much, i think it's okay to have this! It's a reasonable, healthy bounce back, i would argue um.

I do own a theorem if we get into this region between three thousand three thousand two hundred i plan on buying more over the past week, it's down almost seven percent, but from over the past month it's up forty percent start of the year. It's up three hundred eighty one percent and last but not least, dogecoin this one obviously you've seen all this news and everything going on with doge the the community, insanely passionate elon seems to be a supporter. We have the whole fallout from snl, but since then he was saying that he's in talks with the dev, the devs of dogecoin, to try to make it even better for the environment. So i'm excited to see how this form of consolidation breaks.

Dogecoin's gone up a period of expansion, consolidation expansion currently consolidating. If you crack open any technical analysis book, this technical structure would be referred to as a bullish pennant. Basically it was trending upward. Then it's consolidating.

We know that lower highs, higher lows commonly this does break upwards, but of course, there's a counter example to every technical pattern, and only time will tell, but i honestly think the entire party is back on against. Once dogecoin gets above 55 cents, especially 59 cents, really. 59, once we get above that, i would feel pretty confident about dogecoin making its way up to test the current all-time high around 74 cents. That's my personal plan, at least how i'm gon na play dogecoin over the past week, still up 31 from the start of the year until now up almost 11 000, absolutely crazy.

So that's kind of your weekend: crypto update, that's what's going on with elon bitcoin and the crypto as whole. Overall, i am a long-term crypto investor and for my favorite coins i think it's that that common adage of the major dips are to be bought. Uh. I'm not into the game of day trading or really even swing trading.

I want to buy on a nice discount and ride it out for many months really many years, but let me know your thoughts on these coins specifically and the crypto sector at large, and until i catch you next time from me and cheer best of luck in The market you.

28 thoughts on “Elon vs bitcoin: why is bitcoin falling?! buy the dip???”
  1. Avataaar/Circle Created with python_avatars George Anderson says:

    This was an interesting video! I am positive the crypto market would get back on it’s peak with the latest involvement of one of the US megabanks, JP Morgan , according to an article I read on coindesk. JP Morgan bitcoin ETF could kick off sooner than I thought and I expect other big financial institution to key into the future too, due to high demands of clients wanting to invest in cryptocurrency.

  2. Avataaar/Circle Created with python_avatars Harold Brooks says:

    T.h.a.n.k.s f.o.r w.a.t.c.h.i.n.g
    F..o.r m.o.r.e g.u.i.d.a.n.c.e
    +….-1….-6……6-…1-….4-..2-……4-…7-…2…..-1…5….
    W•A•T•S•A•P

  3. Avataaar/Circle Created with python_avatars Harold Brooks says:

    <I must say. Bitcoin’s price action has been fluctuating throughout the past few days and weeks, with bulls and bears both reaching a clear impasse, the aggregated cryptocurrency market has been following in Btcoin’s lead and is struggling to garner any decisive momentum. One analyst is now noting that BTC has been holding above a key macro level throughout the past few months. He believes that the recent consolidation above this level bodes well for its near-term outlook and could indicate that significantly further upside is imminent in the weeks and months ahead. Tips like this are why it’s advisable for investors and newbies to trade with the help of pro traders like Dr. joe Olsen. He is always one step ahead of other traders, he fully monitored all my trades to avoid me making mistakes and losing my money. My earnings have increased drastically from 1.01 BTC to 9.700 BTC in just 4 weeks using his strategy. You can easily get hold of him for a profitable system on TE LE GRAM (@ joehackbtc)

  4. Avataaar/Circle Created with python_avatars Caini LEAKsmi says:

    Fierce absorbing energy’s “Elon” Buy and sell Sell and buy The waiter is everyone who is holding.

  5. Avataaar/Circle Created with python_avatars Dianora Tenuta says:

    The fact is Bitc0in is the future of Crypt0 and the question traders ask themselves is if this is the right time to invest ? Before jumping into conclusion I think you should take look at things . For the past couple of days bitcoin has been fluctuating which means the market is currently unstable and you can't tell if it's going to pearish or bullish while others still continue to trade without any fear of the making loss , others are been patient .it's all depends on the pattern which you trade with and also the source of your signals . I will say trading has been going smoothly for me , I started trading with 1.5 bitcoin and I have accumulated over 4 bitcoin in just a couple of weeks with the trading strategy given to me by expert trader Phillip Hutchinson , His method are top notch and profitable. he can be contacted easily via TE-LE-GRAM (@philhutchinson_brokers)

  6. Avataaar/Circle Created with python_avatars Dianora Tenuta says:

    The fact is Bitc0in is the future of Crypt0 and the question traders ask themselves is if this is the right time to invest ? Before jumping into conclusion I think you should take look at things . For the past couple of days bitcoin has been fluctuating which means the market is currently unstable and you can't tell if it's going to pearish or bullish while others still continue to trade without any fear of the making loss , others are been patient .it's all depends on the pattern which you trade with and also the source of your signals . I will say trading has been going smoothly for me , I started trading with 1.5 bitcoin and I have accumulated over 4 bitcoin in just a couple of weeks with the trading strategy given to me by expert trader Phillip Hutchinson , His method are top notch and profitable. he can be contacted easily via TE-LE-GRAM (@philhutchinson_brokers)

  7. Avataaar/Circle Created with python_avatars TEXT ⏩+1𝟯𝟮𝟬𝟱𝟲𝟲𝟬𝟮𝟵𝟰 says:

    Investing rightly today can save you a whole lot of stress in the nearest future

  8. Avataaar/Circle Created with python_avatars Thomas Hagger says:

    Extremely point by point video 🚀 Well I will also say this here, 75% of the people world wide don't understand the concept of "buying the dip" buying the dip is all about buying digital assets when their prices are down and selling off when the price rises just has the current markets is down. Holding is great, although trading is far more profit able. I was able to grasp the knowledge of trading crypt0 assets early enough, but I was still limited due to my lack of technical know how (under standing) of how to analyze the digital market, all that changed when I encountered Larry Robinson, I must confess it was easier to understand with the assistance of Mr Larry that has made me over 15ʙᴛᴄ. This is his details on ᴛᴇʟᴇɢʀᴀᴍ (@Robinson_Trade12) on how to trade profitably

  9. Avataaar/Circle Created with python_avatars melissa sky says:

    Since the pandemic the stock market hasn't been stable so of course it would be hard to experience that now, We all have to adapt to the new normal, The stock market is an unstable place so the best option right now for everyone is to make smart move with any opportunity they find safe to invest and make their withdrawals before the dip hit.

  10. Avataaar/Circle Created with python_avatars WHATSAPP ➕①④①③③④⓪⑥⓪⑦⑨ says:

    The fact is Bitcoin is the future of Crypto and the question traders ask themselves is if this is the right time to invest ? Before jumping into conclusion I think you should take look at things . For the past couple of days bitcoin has been fluctuating which means the market is currently unstable and you can't tell if it's going to pearish or bullish while others still continue to trade without any fear of the making loss , others are been patient .it's all depends on the pattern which you trade with and also the source of your signals . I will say trading has been going smoothly for me , I stared trading with 1.5 bitcoin and I have accumulated over 4 bitcoin in just a couple of weeks with the trading strategy given to me by expert trader Josephine Raymond, her method are top notch and profitable. She can be contacted easily via TE-LE-GRAM (@josephinefxsignal).

  11. Avataaar/Circle Created with python_avatars Walter Kaminski says:

    NOBODY BECOMES A MILLIONAIRE OR BILLIONAIRE BY WORKING FOR OTHERS AND DEPENDING ON THEM, GOOD INVESTMENT BRINGS MILLIONS OF DOLLARS, AND CONSISTENCY BRING BILLIONS, THE MARKET IS ALL ABOUT DOGE AT THE MOMENT NOW……….

  12. Avataaar/Circle Created with python_avatars Liber presso says:

    hi!only it is not clear what Musk has to do with it? the fall of bitnoin was known in advance…(to me )and this was written about both in my discussions and in other bloggers, it was written in advance and the time of the turn was specified specifically and not-back and forth… and the rest of the excuses someone wrote there are well, at least not professionally …

  13. Avataaar/Circle Created with python_avatars MARCO LA ROCCA says:

    I would definitely recommend Mr. Joe Robinson to anyone. My trading experience with him has generally been positive. The crypto market is becoming more attractive to investors looking for low correlation assets that diversify their portfolios. The US investment bank stated that high volatility "is a headwind for further adoption". We have no doubt that we will not become cops with the slightest sign of stagnation. I know people hate to say it's different this time, but the number of banks, institutions, and corporations that have invested hundreds of millions of dollars to last long: how can we refute this? Could be a great cycle! Everyone is talking about it? The conditions of this bull market are unlike anything we have ever seen. I got these tips firsthand from Joesignals. Always one step ahead of other retailers. He fully monitored all of my trades to be sure. "To avoid mistakes and lose my money. With the help of Joe Robinson, a skilled trader who gave me trading strategies, I got 4.05 BTC out of 0.9 BTC. He is an experienced trader with an accuracy of 90 % in Bitcoin and Ethereum. His methods are top-notch and profitable, you can easily reach him Via Telegram(joesignals0)

  14. Avataaar/Circle Created with python_avatars GPH1134 says:

    Crypto is UNREGULATED. Anyone can say anything and it is NOT a crime. That will lead to chaos. Therefore, crypto is NOT a currency.

  15. Avataaar/Circle Created with python_avatars Mathias M says:

    I would love to buy btc at this price but i used this dip to buy etherium instead because i didnt have it yet,

  16. Avataaar/Circle Created with python_avatars Steve Stone says:

    I love women who are doing well for themselves. When I came across @BritneyJames on telegram, I was shocked and amazed to see a female doing so well in trading for persons and couching also on crypto which I don't even understand all the rising and falling shit. She made it all easier,with her I can say women are now becoming industrious themselves which is a good development.

  17. Avataaar/Circle Created with python_avatars Samara Franklin says:

    The meteoric rise in crypt0currencies has a whiff of deja vu, Many people are seeking for stability in an unstable crpto space and A lot of people are wondering if now is a good time to buy because of where the price is at right now..moving between losses and gains on its neutral weekly outlook which makes it a tough decision for investors to decide how best to utilise the current market; as for me it can’t be more obvious that trad!ng Bitcoin is way more lucrative than just hodlng and waiting for the price of Bitcoin to skyrocket.have been hitting the banks since i started trad!ng ,thanks to Raymonf Tregre his trad!ng s!ngnals has triple my portfolio from 1.5btc to 4.5btc by simply trading the retracement of the current market if you are looking to triple your portfolio or investment deposit.kindly chat up my Mentor and coach (@raymondtregrecrypto) on ͲҽӀҽցɾąʍ.

  18. Avataaar/Circle Created with python_avatars Ericlarry Larry says:

    I make $ 26,450 every 10days from my investment when I started BTC TRADE with Graham Stephan Cassidy. Her trading strategies are mind blowing.

  19. Avataaar/Circle Created with python_avatars Merit Erick says:

    The current fall in Bitcoin is a great opportunity to buy more crypto cause it will definitely shoot back to the peak

  20. Avataaar/Circle Created with python_avatars xerox53 says:

    What a hypocrite… environmental reasons, like he could control that tesla owners charge only with green power…

  21. Avataaar/Circle Created with python_avatars The Smokologist says:

    I made a reddit. It's
    R/ApesEndingHunger
    Because if we don't we suck

  22. Avataaar/Circle Created with python_avatars J Hassan says:

    An absolutely perfect technical analysis my dude. It was like poetry. And if a damn bot responds to this, im goin full blown banana blaster!

  23. Avataaar/Circle Created with python_avatars Iris Pham says:

    I don't really kick against Hodling, but due to the BTC predictions, a lot of people has taken it as an advantage to hold and wait for BTC to skyrocket. Although this is not what we expected the, current BTC price to be as always predicted, I have always told people around me that BTC tradingis of two sides. There are people who are waiting for BTC to be bearish so they can buy cheap, while others will want BTC to skyrocket so they can sell the once they hold.There are so many ways to make profit off the markt but the best remains tradn. My idea, all we have to do is just accumulate more bitcoin during this period by tradin. You can make a profit off the market by tradin alone. As a trader, I have always played safe and smart by tradin with signals provided by Mr. Joseph Freeeman, which is so accurate and profitable. I made an increase in my portfolio from 1.5 BTC to 6.0 BTC in 4 weeks interval using his daily signals. Y'all can get hold of him on T e l e g r a m (Joseph_freeman). I am spreading for those who are unable to turn out a consistent profit in the unstable market.

  24. Avataaar/Circle Created with python_avatars Global Money Academy says:

    OH the cult of Elon. Its like being trapped in a bad rendition of star wars with the biggest nerd directing the show. As a fellow South African we actually love Elon, but seriously this dude needs some chill when it comes to Crypto…

    We strongly suspect the greater plan is to pump dodge… time will tell how right we are.

  25. Avataaar/Circle Created with python_avatars Brandt says:

    Hedgies pulling out of Crypto to cover their AMC shorts tomorrow. It’s all falling into place. MOON

  26. Avataaar/Circle Created with python_avatars TaglishTeacher says:

    It’s now down 12%. Crazy how he impacts all of this. I’m praying it’s just a strategy for him to buy the dip and be back at it again. Ha.

  27. Avataaar/Circle Created with python_avatars Mich S says:

    I truthfully and honestly don’t believe Musk. Give it 10 months he will be making an announcement in which this will all make sense and further engrave his genius onto us

  28. Avataaar/Circle Created with python_avatars IsJustMe says:

    Matt duck wants to know what you think about safemoon working with The Gambia ambassador

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