So I'm gonnashowyouthisarticletalkingaboutthefactthatplustokenmightbethereasonforthishugeselloff.
Andifyouthinkthatthatsoundsinterestingthat I thinkthatyoushoulddefinitelyhelloandwelcometotheMoonMartinisCarl, and I wanttobringinthissecondupdatefortodayanemergencyupdatebecausethebigcompresshascontinuedtoselloff.
Andthisarticletalksabout a possibledumpcomingbecauseofthisbigmoveinBitcoin.
AndevenfamoustraderJacobCanfieldweighedinonthetopic, sayingthatitlooksliketheplustokenPonzischemehasdepositedmorbidcorn, a timeforcautionanddiligenceinthemarkets.
Andthiswasbeforethebigdumpwouldjustsock.
Andrightnow, I wouldlovetoknowwhatyouguysthink.
Pleasevoteinthispoll.
Wasthisdumpbecauseofplustokenselling, oristhisjust a normaltechnicalthing?
Allright, enoughaboutthatspeculation.
Sothisdumpnowhas, ofcourse, been a bearishturnofevents.
Andwhat I saidyesterdaywasthatifwecouldbreakthislevelthaninmyopinion, weareenteringinto a beartrendandweshouldexpectlowerpricesnow, ofcourse, Um, bynomeansthattheydid, I expectsuch a severeselloff.
Let's gotothedailytimeframeandbringoutthedailymovingaveragesandwecanseeherehowtheredline, the 200 daymovingaverageiscurrentlybroken.
Now, ofcourse, wedon't have a dailyclosebelowyet.
Thiscouldstillworkstraightbackupagain.
However, technicallywearerightnowbelowthe 200 daily, andifwegoovertotheweeklytimeframe, wecanalsoseenowhowbigcouldactuallybrokedownbelowthe 20 weekthispurpleline.
Nowthisis a weeklycandle, andthisisSunday.
Bitcoincouldstillweakbackaboveit.
Solet's keepaneyeonthisrightnow.
Because, like I saidpreviously, ifBigCornclosesbelowthe 20 weekagain, theninmyopinion, thatconfirmstheBarishscenarioandweshouldprobablyexpectmuchlowerprices.
Ah, thisis a reasontobelievethatwemightcomedowntotheselevelsandwecouldalsoseethattherewillprobablybe a lotofsupportcominginherefromthepreviousresistance.
And I thinkit's unlikelythatbecausegomuchlowerthan 7.7 andpleaseyourcommentsdownbelowinthecommonsection, doyoubelievethatthisgapwillbefilledornot?
Andsomethingelsethat I wanttoquitthetouchonisthefactthat, umearliertoday I toldyouthatwemightbehaving a smallbearflagplayingouthere.
Butyoucanseethatthiswillbethebiggestgapthatwe'veseenin a very, verylongtime.
Thelasttimewesaw a gapofthismagnitudewasbackhereandyoucanseehowitgotimmediatelyfilledbasicallyinthefollowingdayshere.
Solet's justkeepthisinmind.
Andhereintheimmediateshortterm, I justwannaalsopointoutthatBaconisrunninginto a supportarea.
I thinkwecanseeherehowthere's beensomeresistancefromallthewaybackthereandyoucanseeherehowthislevelwassignificantbecauseassoonasbecomebroke, thisthat's wherethisselloffstarted.