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Hello, this is your Crypto Dave again. Yes, today's update on Bitcoin. I haven't uploaded any videos to Crypto Dave for the last few weeks, you could say. Um, I was on vacation and mainly uploaded stock news videos here , but I somewhat neglected the Crypto Dave channel. And that definitely needs to improve now, which is why I'm sharing my latest Bitcoin video today.
So, what's new with Bitcoin? In fact, there is a great indicator that suggests we will soon see rising prices here. And we've already seen rising prices today. The indicator is Jim Cramer. Some of you may already be familiar with it: the contrarian indicator for stocks and cryptocurrencies. So, if he says get in somewhere, then you have to get out very, very quickly.
And if he says, "Go out somewhere," then that's a pretty good opportunity to get in. Yes, he is the contrarian indicator, as I said, and the expert, in quotation marks, I would say, wants to sell all his Bitcoins. And he warns , warns of this enormous risk, namely the risk of quantum computers. We already discussed this topic in March of this year, and yes, just as quantum computers will continue to develop, so too will probably, perhaps, the Bitcoin blockchain.
This means that if, in several years, the level is reached where these current , outdated blockchains can be cracked by the quantum computer, then that does not mean that all Bitcoins that are using the new technology are in danger. That means this isn't actually a new topic that Jim Cramer is bringing up here, but rather an outdated one, and he says in his CNBC show Mad Money that he wants to sell all his Bitcoins.
I don't know how many Bitcoins he has, but he would want to sell them all, and that's a great indicator because, as I said, if Jim Cramer says he wants to sell something, that he needs to get out somewhere, then you should pay attention and say, maybe the bottom has been reached here and you should rather buy in here.
Conversely, if Jim Cramer says you should buy things, then the train has probably already left the station and you should actually get out. He has been a very, very good contrarian indicator in the past, at least, and that's why this news is actually being celebrated by the community, including me .
I think we've now overcome the worst of it, I imagine. Maybe it will drop a little further , it's still possible, I said so in my last videos, I think 55,000 should be the absolute lowest it can go. So, in my opinion, there's far more room for improvement than for decline, and Bitcoin has already reacted quite well to this news from Jim Cramer.
We're almost back up to 65,000 today. We are now above the 20-day line again, above the 50-day line, and the 90-day line is at approximately 67,000, and that will be the crucial point . If we go above that, then it could become really bullish again, and the hurdle would then be around 71000, so the 200-day line runs there, and if we go above that, then it will become really bullish again.
So, these are the thresholds where I say, okay, we have to sustainably cross them, we have to break through 67000 again and sustainably overcome 7071000, and then things could really start going up again . Yes, it looks pretty good at the moment, in my opinion . We have everything at iPhone 54, which means there's definitely room for improvement, at least easily reaching 67000 for the 90-day line, but I think 70000 could also be cracked in these two days with this RSI of 54 .
We are currently in the neutral range on the RSI. We are also seeing an increasing momentum here, which I consider positive for this price trend. We're looking at the liquidity heatmap. Liquidation actually looks more like this, and ultimately, we see that there is liquidity in the form of short positions at approximately 66,000; this liquidity could be withdrawn.
In the lower range, there is liquidity here at 74500, which has already been withdrawn. We do n't have that much liquidity down here either; the real action is up here. The short-term liquidity, looking at the last 24 hours, is around 66,000, and that needs to be tapped. I hope we can then sustainably stay above that 66,000.
We'll also take another look at the monthly figures . The liquidity liquidation heatmap... um, we have quite a few short positions up here, and of course the long positions down here, which could also be cashed in. It could potentially drop down to 61000 again, in order to collect this liquidity, but I think if we see bullish signals here, then it's more likely to go upwards.
Clarity Act no longer works. Before the summer break, here's the news. But I think that doesn't affect Bitcoin much. The Clarity Act now has less impact on Bitcoin itself. Therefore, I think, yes, it would certainly have been positive for the entire crypto sector, including Bitcoin of course, but the fact that the Clarity Act will not be finalized here so soon before the summer break is unfortunate.
And then, in retrospect, it might not even become law this year. That's actually already factored into the price . And if it does happen, it could give things a nice boost. And if it doesn't happen, I believe the risk of loss is, well, very limited. Our Fear & Greed Index is at 30. That's very good.
There is still fear in that area. That means you should buy in that area, in the green zone. And that brings us to fear. We're still nicely inside . This is the area where you should sell, where you're feeling greedy. And there's still a lot of room for improvement, which will essentially ensure that we enter the greedy realm.
There's still plenty of room for improvement. And I hope that things will actually improve here in the future. So, in the near future, we will have traversed the valley of tears, or however one might want to put it. That we're definitely through with that . Okay, that's it for my update regarding Bitcoin.
Yes, this is from me, from Dave, your Crypto Dave. And if you like this, and want to see and hear more from Crypto Dave, from Crypto, from Cryptorus, from Bitcoin, then subscribe to my channel. Ring the bell afterwards so you don't miss anything. Otherwise, take care and we'll hear from you again. Bye.
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