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welcome to my channel where I do daily reviews of Bitcoin and also discuss current news. Before we begin, as I always say, nothing you hear on this channel is investment advice and should not be perceived as such. Having said that, I want to move on to the translation. Looking at the market, we see a market capitulation of $192 billion.
Yesterday it was around $195 billion. We see that the market has lost $3 billion, and $ 123 billion of that is Bitcoin. We see that Bitcoin Domino's has lost 60% (4.1%) of its value, or 60% (4.27%), but it is still defending the 64 support level. Looking at the 24-hour real volume of the 10 largest exchanges, we see that it is $1.2 billion.
Yesterday, at the time we filmed this video, it was around $500 million. The weekend also had an effect, as did price instability. As I will show in the technical charts, there was a short-lived rally yesterday, followed by a wave of selling. Both exchanges increased their volumes. Looking at Bitcoin futures exchanges, currently, generally, they are long.
I see that positions are high, Bionase is ending, the brave teller's positions are high, and also Bitfinex, only short positions are high, but it's only by a nose. Right now, there's an uncertainty, long positions are high, meaning people's hopes for a price increase are high, but when we look at the numbers mathematically, we see that people don't think there's a serious possibility of a rise.
When we look at the crypto fear and open freedom index, yesterday we said eleven, today we've gone up to 10, 11, 11 units, but extreme fear still continues. When I look at the cables, as I always say, the package area is right now. This will be my 10th video. I'm saying this after being in the market for 3-4 days, three days ago we broke through Budan.
Yesterday, yesterday, yesterday, I was completely full, the lower limit of the package was 0618, so we tried it and got a reaction from there. Today we continue on our way with sales. When I look at the table, if you pay attention, I'm always watching these areas, these parallel support lines. For two and a half weeks, or even three and a half weeks including the past week, I haven't made any changes to the areas.
They know I've taken this 10th film, and there's been no change. Therefore, from my perspective, there's no change in the trend. Yesterday, I always said that closing the daily candle changes or invalidates these areas. Yesterday's didn't close above my 7000-6600 support line, so I don't think it's broken.
I threw it up as resistance, and I do n't think it's broken. I still think we're within this support area. It's worth repeating: I think the downward movement will reverse to the 5000-15,000-805,000 range. I've been saying for three videos that we're focusing more on the 5405,000 range. I also say above that I'm paying close attention to the 8207-1800 area.
These areas, and any of them, haven't been broken, whether up or down. So, unless a daily cup forms below 5000, or a daily cup forms above 8200 if the rally continues, nothing changes. In this sense, nothing has changed from my perspective. I see that my flag formation is working more clearly after updating it.
Yesterday's price movements clearly demonstrated this. Yesterday, I saw that it turned around from the median, the midpoint, of yesterday's position. I see that it's currently above the 6600 range, which is our lower boundary area, and I see that this is acting as support. However, looking at the volume, and with an hour left until the close of the four-hour candle, I think this might not be a very effective buy.
We will continue to monitor it. We are currently in this phase. I have said before that I expect selling pressure if it breaks downwards. Having said that, I want to move on to the news section. After I posted my video yesterday, while looking at the news, I saw a prediction that the Bitcoin price could fall below $3,000.
I saw that this prediction came from the founder of the Silkroad online sales platform, Unbitten Rosole Brickten. I mentioned this in another news story recently. The subject of the news was that people have a prejudice that Bitcoin is used to buy illegal products, and I gave this example to say that this prejudice is not entirely unjustified.
On the Silkroad website, until 2013... I mentioned that this thing is sold in almost every province you can think of. I told the founder of this site that he was in Silivri prison, and that he received two aggravated life sentences when Rosole was finished, and that he is currently in prison. He made the prediction mentioned in this news, the Bitcoin prediction, while in prison.
I saw that he made this prediction on his Rosole page, and I read it. I won't go into too much detail, but what I want to show is that his theory, based on the theory of Vielight and the theory of EliteVet, is a wave theory developed by Rosole, and I will get into it shortly. This wave theory is generally used by those who deviate from it to give an idea about the direction of trends.
There are triggers that only use this theory. I am not one of them, but of course, there are those who read and examine these theories, sometimes trying to understand them in the long term, but mainly I look at resistance and support areas in trends and use momentum indicators a little bit, according to the EliteVet theory he mentioned.
The period up to the end of 2017 was characterized as a bull market, and the market we are currently in, starting from the end of 2017, was evaluated as a bull market. I will show this in my own chart; I enlarged it here because it was drawn by hand, and I think it will be clearer here. And what happened?
Should I take the knot in this chart for you? I mentioned the Elite World theory; let me show you how he applied it. Yes, here he said the first wave, the third wave, the fourth wave... oh, sorry, I'm taking this as GTA V wave, the end of the V wave, meaning the end of the bull trend. The value at the end of 2017 was around $20,000.
After that, it goes in two stages: an upward trend in five waves, and a downward trend in three waves, called the Collection color. There, the bottom we saw at the beginning of 2018-2019, the one created at the end of June 2019, is approximately at the level of $1200 to $3000, $2800. So, there is a support area here.
He saw it as the peak or the point over there. I'm drawing you to the extreme theory here, and he said that the confirmation could continue up to this point in terms of seeing it. Whether you agree with this theory or not is up to each individual, but what caught my attention is this: Yesterday I showed you that this is a downtrend, and that you shouldn't have very high expectations technically before this hovering, and that this is a downtrend, and that the trend has continued since the end of 2017.
I didn't know that Rosso had a technical analysis side to Bitcoin until this year, but we know that he has been knowledgeable about Bitcoin for a very long time. We know that almost 144,000 Bitcoins were seized after his arrest. We know that only these plant games can be used for trading on the Silkroad website.
Therefore, we know that he is not someone unfamiliar with Bitcoin. In this sense, he also said that there are many laws of ethics and theory regarding the process that has continued from 2017 to the present. I also explained this in my own theory yesterday. I completely agree with this. Bitcoin is still on a good trend right now, and the " law of shame" (referring to the negative impact of Bitcoin) is still in effect.
Having said that, I have another piece of news I want to mention. For those who don't know, he's a very famous gold investor, but he's known in the Crypto Twitter community because he's a serious Bitcoin enemy, constantly making negative comments about Bitcoin and saying it shouldn't be bought. So, someone we know well said that in the last few years, Bitcoin has been seen as a goal by Bitcoin lovers, meaning it's showing better price performance, so they claim it's better than the rest of the group.
But in the coming years, this will reverse. I've found that it won't be because the price of gold increases, but because the price of Bitcoin crashes. He received many responses, and I want to mention one: a Twitter user named Klomen sleepy asked why he constantly compares gold and Bitcoin. He asked if the real enemy is the unlimited money printing by governments, or if he's marketing his own gold company, his own gold investment company.
Frankly, Peter, I can't understand this Bitcoin animosity. Because Bitcoin is already going to function like the gold of the new world. This financial instrument is limited and, in that sense, has very similar characteristics. Therefore, the excessive hostility towards Bitcoin in this sense is not understandable, but there is another important aspect for us.
Peter Schiff has tweets that he posts from time to time. I will talk about these as well. He posted the first one in 2013. I will leave the link below for those who want to read the tweets, but I will talk about its impact on the market. Here, each vertical line represents a tweet by Peter Schiff. Immediately after he posts a tweet, especially in periods before the market is fully mature, we see an increase in the Bitcoin price.
He posted the second tweet here, this is in 2016, at 60. After that, we see the Bitcoin price rising. He posted his third tweet here in 2017. After that, we see the 2017 Fono rally. He posted his fourth tweet here in 2018, at 60. We experienced a rally at the beginning of 2019, as of April, as you know.
After he posted this, we know that our Lord experienced the 10,000 dollar test and the 14,000 dollar test in recent days. What is that? I apologize. We know that our Lord, who tested $10,000, is experiencing this. He just tweeted again; it might be his sixth tweet. This market will show us this. Let's hope it's the confirmation we're waiting for.
We can buy Bitcoin again at the prices we want, around the 5,000 level. This is not investment advice, I want to emphasize that. I'm just sharing my life experience at those levels. Hopefully, we'll buy at those levels. If it drops a little more, or even a little lower, we can buy. Then, let's hope Peter's Counter indicator feature works again, but within "but with," and that the Bitcoin price increases.
That's all I have to say today, friends. If you liked the content, please click the like button below the video. Also, click the rectangle that says "subscribe," then select "all" and support my channel in this way. Please share my videos with your friends, spouse, and acquaintances who are interested in this so that we can reach more people. That's all for today. Take care and have a good day.
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