CRYPTO Altcoins Dump Over! Buy The Dip!?

brutal day in crypto with heavy losses seen across the altcoins is it about to get much worse or is it time to buy the dip in this video I'm going to tell you what is the cause behind what has just happened and what will happen after this so if you want to know what to do to prepare hit that like button and let's get into today's video now guys as we look across to crypto bubbles things look pretty brutal we've seen heavy losses in the top 100 coins with coins like Kronos down 20% in a single day but if you've been stacking up on small cap coins recently you're probably feeling the pinch a bit because some of the smaller cap coins are down as much as 52% today so what the f has been going on and is it going to get worse well guys this is Bitcoin and as you can see Bitcoin has been pulling back a little bit in the last couple of days having seen highs recently up towards $9,000 it then pulled back 5. 1% and the price currently sits down around 2. 7 % and here's what you need to know if you're overly invested in small cap coins then this is very typical you can enjoy some good upside but you can also get heavily shaken out when the downside moves come in therefore especially early on in crypto bull markets you should be making the most of large cap altcoins don't see such brutal sell-offs but see much bigger upside potential and I've been covering that in the last two videos I've made and if you've been missing out on which large cap altcoins I've been buying into then make sure you subscribe to the house of crypto because this is how you can make the biggest gains without such downside risk that you're probably finding out about today so first things first let's look at the Bitcoin chart and then let's identify what the cause is of this little pullback well from a chart perspective you probably will be like well just look at the Fibonacci retracement where you can take from this swing High down to this swing low here and you can see there's 1.

618 golden ratio comes in at this blue line at isn't it interesting how the Bitcoin price hits this area and pulls back but why does that happen well because when Bitcoin goes past this top it's very difficult to work out where Bitcoin is going to pull back and lots of Traders out there are probably anticipating the 1. 618 as being the next area of resistance therefore they all start to sell around this price and we get a cool off not only that but the Bitcoin fear and greed index is running in extreme greed levels and it's because of this that yesterday I decided to close all of my long trade I did this because I was a bit overleveraged but also because of a huge amount of throw in the markets so many people were telling me why Bitcoin was going to go to 100K why it was going to go to 500k by Christmas and I was like I've had enough of this so I did a Warren Buffett and I thought to myself be fearful when others are greedy and be greedy when others are fearful and since everyone was being incredibly greedy I thought we would do a ShakeOut and if you missed this call make sure you're following me on Twitter because these things change very quickly and I need to be able B to update you when things happen and that's the easiest way to do it so make sure you're following the house of crypto 3 on Twitter make sure it's got the blue check mark and then you can find out when I'm closing some of my trades I also took a short trade on Doge which is probably a little bit on the risky side but banked $888,000 so let me know down below if you want me to update some of the trades that I'm doing over on Twitter and I will so what then does that just mean that crypto's done and we're going to see a big massive pullback well no all you got to do is look back to the last pool market and we can figure out what's going on during the last bull market when Bitcoin first broke above previous bull market highs you can see that the Bitcoin price rallied extremely hard very quickly going all the way up around 28% to $245,000 at which point Bitcoin pulled back around 9% bear in mind Bitcoin has only pulled back 5% so far and some of the altcoins have been pretty brutalized following that it seemed like Bitcoin ran really hot but multiple times you saw big sell-offs 8. 7% another one up here here 19% before another big sell off of 31% and then this continued all the way so why am i showing you this well I'm showing you because the pullbacks in Bull markets are completely natural and we are in the bull market because the bull market is being driven by global money supply you can see the global money supply is about to hit all-time highs after a recent dip which was what the bare Market was by the way when this runs into all-time highs again with the US printing money and also the global monetary Supply with China printing a bunch of money China now rumored to be legalizing Bitcoin whether that happens or not I wouldn't be so sure Donald Trump being pro crypto you know the news right we know why we're having a bull market and why this bull market will continue aggressively but is it time to buy the dip then well not just yet I'll tell you how I'll be buying the dip and coins I'm probably going to be buying on that dip slightly later on but we need to understand something really really important because yesterday when I'm in my membership groups which are linked down below if you want to check them out I was seeing people asking which coins to buy all day long they were asking me is it too late to buy this is it too late to buy this and this showed me that we were higher up in this W Street cheat sheet psychology than maybe I thought we were you see as we move out of optimism into belief and thrill we get a lot more Jagged price action where people take advantage of people who are too emotionally charged during this market right now now I don't think we're necessarily into Euphoria phase yet where people are literally going crazy and calling you an idiot if we going to have any form of a pullback because yesterday when I said I was closing my long trades people were actually pretty supportive at the top of a bull market people will be full of hate and telling me I'm an idiot that tells me that we're not quite at Euphoria just yet but many people are like we're not going to get pullbacks like that in the last pool Market because we got Black Rock buying the dip we've got Michael sailor buying billions of dollars of Bitcoin every 5 minutes we've got this happening we' got that happening and this is where I'm urging you to ignore the news and just follow the mentality of the people around you but this is why it's no different and if you're subscribed to the channel Channel already you'll understand this this chart is nearly 400 years old and it comes from Holland where back in 1634 everyone was trying to buy tulip bulbs and pay attention this is so important because you can see that people were trying to buy these tulip bulbs from flowers to be able to make more money and the rumors were getting out that these tulip bulbs were the best thing to buy everyone started to buy them until the price of these tulip bulbs reached four times the salary of an average shoe maker by which point the whole Market collapsed and people lost literally everything and this is because charts aren't about the news and information around you they're about them they're fundamentally about the greed versus the fear of the people that are investing in them so if ever you find yourself being too greedy you can expect a pullback because that's the way the market works and that's going to allow you to be cool and calm the next time a dip comes so is it going to get much worse in the short term well no guys probably not too bad because we are still quite early on in this run and a lot of these altcoins I've seen that initial ShakeOut of all of the money that's been entering in at the top you see that money that's been entering in at the top are mostly retail investors and it's probably mostly new people who've been buying into the likes of Soul which I know was pumping about 150% just yesterday and is now shaking everyone out who is buying at the top so what do we learn well stop buying the top of these big green candles for one just because you've heard of some news story telling you that Dogecoin can continue higher or some influence has been telling you that doge is going to go to the moon or SOI will keep going up because without fail the coins that have been pumping the hardest will see some of the biggest pullbacks this is sui top 100 coin you can see it dipped 15% which is not too bad so how much worse can it get for Bitcoin well we're probably around the halfway stage for the Bitcoin bull market you can see that there's a huge amount of search volume now on bitcoin over on Google Trends not as big as it was back in the last bull market top but it's a good indicator that we're starting to see a spike in an upwards Direction and that's because bitcoin price is now being plastered all over the media look media retention this is a usual indicator that we're probably heading into this phase of the market maybe just beyond it now but here's what you got to understand all of the utility coins that you've been buying in the last few weeks that have been going up significantly are just having a little bit of a correction and actually many of them are now in Prime positions to be able to load up on so this is the fun bit which altcoins would I be buying right now should I have the opportunity now there's an argument to be had for saying that coins like SU have been running incredibly hot and still now start to give us a little bit of a better entry now on The Daily this doesn't give us much of an indicator whether the Su is a good coin to be buying or not but what we can do by going to a 1our chart is identify something significant every time in the last kind of few days that sui has been entering into this Zone down here we can see significant pushes higher okay you can see it bouncing out of here every time now can sui go lower should Bitcoin sell off more absolutely but do you know that bit coin is going to sell off more because many people don't really know okay and therefore we know that sui has the potential to go much higher because it's already been very bullish and it's starting to give us good value in this area and I'll show you the best way to enter into coins like this slightly later on but I get it if you've been subscribed to my channel you probably don't want to buy Su because it is quite high up right now and there's actually probably some better value tokens for example Ono now I've been talking about this chart pattern which is the easiest chart pattern to identify when we're about to see a reversal back towards the upside what you can see and people have been asking for me to do this step by step but I don't know how much more step-by step I can do than this this was earlier in the year it's actually June most coins in crypto pretty much peaked between March and April but Ono was a little bit later you can see that it then ran down okay bouncing and creating this downtrend draw yourself a line following that you can then go and click on the paintbrush and hold it down this is tradingview.

com and go and click on the arc here you can draw a cross click drag it down and you can see that you can create this cup pattern which shows this rounded base where you have the downtrend turning into an uptrend now what's very important to note is often when coins break Beyond previous resistance this is resistance when the price is bouncing into something it can't get back down whereas this is support it can't go down it keeps going back up here we can see the price is resisted it gets bounced back down it does it again and it seems to form the top of this cup Ono then breaks this cup and comes back to retest previous resistance previous resistance becomes future support okay and previous support will become future resistance when we get into a bare Market but right now Ono is just testing the top of this cup making Ono in my opinion a fantastic altcoin to be able to enter into at this current price because it's testing and it's showing it's being bought in this area right now what else is showing similar things now you can see AOS well I put the cup down there actually you could say maybe there's this resistance area here okay resistance bounces down was also previously support it breaks up through it comes back down to test this area of previous resistance AOS right now is in a good entry area in my opinion can it come a little bit lower absolutely but I don't think it's going to come significantly lower than where it's at right now but I've been wrong before and I can be wrong again which is why entering into these larger caps is the best move because if AOS does have a little bit further trip down here it might see another 10% selloff 15% sell off but you can stomach a 15% downside if you know that the upside is looking like a 10x or more beam X you can see has come out of its cup pattern it's come back and now it's perfectly retesting the top of this area so why these coins well Ono is one of the largest market cap real world asset cryptos out there it's backed by Black Rock the biggest Finance Company in the world with 10. 2 trillion of assets under management they own nearly 2 and a half% of the Bitcoin Supply right now they're heavily bullish on crypto so they say Larry think the CEO has told everyone that black rock will be tokenizing assets basically moving traditional assets and commodities on chain platforms like Ono will massively benefit from that as institutions start to invest in various tokenized assets they will use regulated platforms like Ono to do this that's why Ono is a good bet beam X gives you access to the game fight Niche game fight is a great Niche to be in because it's one of the top trending niches of which we've got gamey real world assets Ai and deep in to look at this bull market obviously there's meme coins as well but that's much more difficult if you're newer to crypto stay away from the memes just stick to the easy stuff and you won't go too far wrong bmax is a layer one built for gaming they have around 30 new games being built on their platform right now it's being utilized it's actually making money okay rare in crypto I know but these projects will see good upside when gaming pumps when Real World assets pump Etc AOS will obviously benefit from the AI narrative AOS has also been one of the only projects to speak at Nvidia also we've seen near protocol do that near protocol probably has a similar chart to this right now A's Not a Bad Bet in my opinion and a lot of these larger altcoins that you've all been looking at over the last few days render you can see same downside track has the cup builds the cup people come back price goes up price pulls back into this Zone retests that previous bit of resistance that's now flipped to support things go okay now I know a lot of people are new what am I talking about resistance the price goes into this line it comes back down it goes into this line it comes back down this is resistance if the price was going sideways and bouncing on another line this would be support so for example this would be support this up here is resistance you get the picture but sometimes when the price is Falling Towards the downside It's tricky to know whether you should sell or whether you should buy okay and there's ways to overcome this emotion because it's the emotion that will wreck you in this bull market and typically you buy coins at the start of bull markets and you buy dips so if we wanted to get into render and let's say we wanted to get into it a little bit later on how are we going to do that well first of all I want to identify the price at which render has already pulled back to and could pull back to again which is around 6.