today for the Bitcoin price. I am selling everything! I am selling everything right now! You’re probably saying Chris, you’ve gone crazy! Hear me out and, of course, very important.
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So, what am I talking about here. I am selling everything! You probably don’t believe me right because I’m such a Bitcoin bull and I’m actually also a Bitcoin bull. Hear me out. What we are seeing here right now is Bitcoin completely breaking down. Punishing all the Bitcoin including me. I will talk about my million US dollar trade as well. First of all, let’s talk about what we see here. This is the upward sloping resistance. The upward sloping support. What we are seeing is the last 12 years for Bitcoin? Why am I selling everything? I was posting recently here on Twitter that I am selling my 1.2 million US dollar, McLaren, for Bitcoin. I literally spent for this McLaren. Let me quickly go back here in terms of Bitcoin. Maybe, 30 Bitcoin or 25 Bitcoin. If I am selling this one right now, I get 60 70 Bitcoin for this car. I’m going to do the same with my other cars. I’m going to do the same with my other watches. If Bitcoin goes even lower, we can see here that Bitcoin is actually… Even though I was surprised! I admit that I did not predict that we break below 28 800. But now exposed, it’s not that surprising because Bitcoin is doing this every single cycle. Let me quickly zoom out here actually and show you exactly what we should predict or what we should expect for the next few months to come? What you can see is that every time before the halving we reach the all-time high.
We break down, we reach the all-time low before the halving. Then this is the vertical line here. The halving occurs this was the first half for Bitcoin then once again after the halving run towards the upside bull market high we break down to the 200 week moving average to the upward sloping support and find the bear market low before the halving occurs after the halving bull market run towards a new all-time high. It’s like clockwork, this chart could be actually Swiss because what you can see here once again after the all-time high breaking down to the 200 week moving average to the upward sloping support. Afterward once again the Bitcoin halving bull market high upward sloping support resistance breaking down to the upper resistance upward sloping resistance getting rejected breaking down to the upward sloping support right here. Once again as every single time hitting the 200-week moving average and now what we should expect right now. Let’s see what is going to happen here in accordance to this so far. Absolutely perfect price to our model.
Let me quickly go back here. If you wanna see what price target. I am predicting but more importantly. What am I going to do trading wise definitely watch until the end of the video but more importantly please. You are one of the smartest investors out there on crypto, so what you can see once again we are hitting that. What should we expect right now leading to the halving to the next vertical line here what happened the last two times? It was a little bit of chopping around. But you can see the upward stopping support does not actually allow us to go further lower to go significantly lower what we should probably expect is some kind of floating around here towards the next halving. Of course, a potential break towards the upside, but definitely higher price targets.
Then we are seeing them right now as every single time we hit the 200-week moving average. There was upside, afterward, this is the reason why I’m actually selling a lot of material things right now. I am starting with my McLaren Xena and if we break even lower. I’m gonna continue with watches I’m gonna continue with the other cars. I do not care about that for me. The most important thing is to maximize my Bitcoin this is actually why I am even in this trade at the moment where everyone is saying: “Chris, please, do not do that! This trade is right now breaking even but if we break lower. You can see my entry price at 21 100. I am going to scale it up I have as you can see still another approximately 50k on this account. I will actually deposit even more if necessary another limit buy at 19 100-18 100, so on. I am gonna go higher and higher as the Bitcoin price is going lower as it is a question of time that Bitcoin follows the um the good old trajectory it was following the last 12 years let me know what you think about that.
This article is a transcription of a video made by MMCrypto
Original video: https://youtu.be/Jyd19Nq6Bk0