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what is going on guys I am back with another video and in this video what I want to start with is some fake news coming out of Forbes and when I was looking for some news for this video I came across this article Bitcoin soars on following you on North Korean crypto thieves and like huh that's pretty interesting I want to see more about it I look through the entire article there's not one mention of North Korea or this entire story it's literally fake news clickbait just to get you to click on the article so coming out of Forbes pretty mainstream news source that I thought was pretty rough YouTube's old but they're just pushing fake news clickbait to get you to click so dreamers I thought that was interesting this year so we got some real news now crypto upon it all the coin sentiment will cause Bitcoin to collapse I thought this article was interesting they were kind of saying like look basically that the negative sentiment right now and all coins is also gonna eventually come over to Bitcoin and if you guys know gold-bug Peter Schiff is actually the one that that is stating this that's he's basically saying look all coin demand drives the Bitcoin on-ramp the weakest link the weakest link of a chain break first so he's saying like the all coins if they're breaking down then eventually once confidence and all coins lost bitcoins is next which is totally BS it's kind of funny coming from Peter Schiff because he actually he says he's not into Bitcoin but he holds Bitcoin if he didn't believe in it like why is he holding onto it right he's holding it right and he says he's doing it out of like I guess respect for the people that donated to him he's like a hold a little respect but then that means you believe in the asset but anyways just kind of odd prediction coming from Peter Schiff I think we actually are gonna have all coin season as soon as Bitcoin approaches all-time highs as in 20k because people are gonna be looking for cheaper alternatives now I think at this point it is kind of a gamble I would like wait until there's some sort of technical analysis that shows in the charts like hey you know this corner that coin is going to have some you know real traction because I mean hey a lot of them you know do you drop off and are worth nothing so you know it is kind of risky for all coins at this point in time but I think people are gonna actually look into all coins more as they see Bitcoin you know as a phone in Bitcoin and they're like oh let me see if there's something that could get a better return on my money investment-wise so I thought that was kind of interesting to talk about so let's take a look at the Bitcoin price so as we can see here there was a bit of a drop down so it's a little bit of a mini Bart Simpson pattern and what are we at right now eleven thousand two hundred thirty five I mean the 50-day which we have in purple here 50-day moving average is still over the 200-day moving average which is in green here so still bullish this pattern right now does not there's nothing bullish really besides that the 50-day over the 200-day in this pattern to me like it's kind of hovering around some resistance right here but really this is kind of you know it could go up or down at this point not really looking like it's going to go on the upside so I maybe my my opinion on this would be to kind of hold off for been the look for a better opportunity also look at this volume is just it's decreasing so much you know so it's like almost struggling to hold on this level right here so I think actually if anything we're more likely to drop lower unless something like some manipulation comes in we can even see the trend line down here just it's straight down so signs are looking more like things are going to go down in price then up in price now if we kind of look at the longer-term trend line it still is you know like I think sometime towards the end of August or early September like we're kind of forming this massive wedge like if you look all the way back from June as a little low to now and then you know all-time or not all-time highs but back to the 14 K we had back in June it's kind of forming this larger possibly bullish flat bullish pendant flag or whatever so that could be interesting kind of towards the end of the month or maybe even into September and we can have a big break out there possibly even up to like 20k know anything's possible in this in this market but yeah otherwise I'm just you know trying to look for better opportunities to buy low and sell high to increase my current Bitcoin holdings right right now and yeah anyways that's it for this video guys if you like this video give it a thumbs up and subscribe for more content like this thank you for watching right
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