Today Deezy briefly covers why the markets are so red but MORE IMPORTANTLY, Deezy gives the next target for Bitcoin!
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Breaking breaking and I mean the markets Everybody we are in a sea of red as the Crypto markets are just crashing right Now you can see salana is down almost 5% Just a sea of red and really not seeing Anything green until we look at a stable Coin on the hourly or maybe a little xrp Pump here and there but you can just see Across the board the markets are Down and we're going to talk about why Things are down I'm going to give you The target for Bitcoin on how low I Think it's going to go this weekend Because we are just in the midst of a Crash right now we've got all this bad Data hitting us all at the same time and The markets are reacting with the Biggest red candles in existence we're Going to be looking at three quick Reasons why we're seeing such a global Meltdown in the markets and then I'm Going to give you the target weak us Hiring in July slamming the markets the Dow plunged 900 points unemployment was Climbing to 4.3% so it was an unexpected Setback because the hiring fell sharply And the numbers were much lower than People were expecting they added just 114,000 jobs 35% fewer than expected and Unemployment now the highest since October 2021 things are deteriorating Quickly according to Julia Pollock she's Chief Economist at zip recruiter and the 4.3% for unemployment is actually very
Dire everybody is historically it is a Trip wire that has signaled recessions Although some economists are saying the Gauge maybe not reliable post pandemic Now some industries did okay restaurants Hotels bars AKA service economy you know Not doing terrible but even last month They had to revise the May to June Payrolls to the downside they reduced it In the additional 30,000 jobs so they Give us numbers and then they always Revise them and then typically they Revise them to the downside very rarely Do you see and revise them to the upside So we got terrible employment data That's the first reason second reason Bank of Japan lifting its rates for the First time we're at multi-decade high Almost uh levels unseen in 15 years as Japan takes some steps to phasing out a Decade of huge stimulus aka the money Printer machine is no longer rolling in Japan and so Japan had a massive massive Movement to the downside I pulled up the Nikia index that thing was down 5.8% just uh today actually 5.81% and I Zoomed out folks and it looked pretty Scary if we look at the 5year mark look How quickly that decline is that's what We're seeing right now the last time we Saw a decline like that well it was February March 2020 we all know what Happened then so Japan is reason number Two and then reason number three we got
A lot of turmoil in the Middle East Hamas political leader it has Commander Killed hours apart so the tensions are Rising in the Middle East and then oil Falling as demand concerns counter the Escalation here so we're seeing a lot of Wonky data with the oil we're seeing a Lot of uh you know tensions flaring in The Middle East and so now we got this Third reason for the global markets to Pull back but I said I was going to give You a bitcoin price prediction and That's why we're here folks because we Go up to bitcoin right now $62,400 to the downside right there you Can just see that crash is coming out of Nowhere catching Everybody by surprise But when you zoom out okay you know Bitcoin starts to look a little bit Better you zoom in a little bit here and We're going to pull up that old parallel Channel that we've been talking about Before so go ahead and draw it from the Top here we're going to go ahead and uh Clip the tops and then draw it down and You'll see something uh pretty uh pretty Spectacular folks so you know we've just Been trading in this range since March I Think uh you could technically say we Hit the top the the middle of March March 14th come back down didn't quite Hit it didn't quite hit the top but then Boom bounce off it with conviction Bounce off this conviction and then
Bouncing off again with conviction so Where is Bitcoin going to bounce next Well we're going to zoom in a little bit Folks because it might be some bad news That I'm about to share with you folks The bounce may have already printed so If we go to a smaller candle we go to The 4-Hour first look how perfectly that 4H hour candle hit that middle point of The parallel Channel I've talked about This Middle Point before and you see how Important it was on July 1st and now We're sitting at the beginning of August And we're seeing something similar now This isn't the first time the the Middle Point here of the parallel channel has Been you know important point of control You can see you know we tried to uh you Know burst through but it acted as Strong support we tried to uh you know Burst through again but it acted as Strong resistance and you can see There's a lot of action uh you know Around here as well and so I would not Be surprised if this is the bottom now We might trade along it a little bit you Can see how many 4-Hour candles we're Training along it right there we click To the Daily you can see you know hey Sometimes sometimes it likes to touch it For a couple days that might be what We're seeing here now if we move to the Downside if we cannot hold support here The next level is going to be pretty
Scary folks but let's go ahead and show You you know what kind of draw down we Might be experienced here so 62,000 Right around 700 bucks if we go to a Smaller time frame we can get a little Bit uh closer to the point there in 628 where looking at a quite the draw Down folks about another 12% to the Downside AKA losing about7 8,000 on Bitcoin's value so that'd be I expect uh The next level of support but don't be Shaken out if we go there these are 1hour candles you can see you know very Scary moment oh my God we're closing Hourly candles you go the 4H hour okay That's when uh you know close one people Got scared uh then you know didn't Really close anymore below that and then On the daily we only Wick into to these Areas so just be careful trading you Know I don't hate any kind of buy orders Or even uh some long orders you know Below this level but this is the point To watch this dotted line right here is Going to be the important zone for Bitcoin we're going to be keeping a Close eye on that but if we go to the Upside if we bounce with conviction now We're looking at some you know some Juicy juicy targets here you're looking At a pretty good upside of about 10% There so Bitcoin it's going to be about A 10% move to either direction if Dey Has to give his analys on what direction
He thinks it's going to go go I think We're going to range on the bottom I Think we got one more scary Wick below But I tend to lean bullish everybody so I think we're about to be uh flirting With this $69,000 level soon so that's what I got That's why bitcoin's crashing this Weekend folks do not be scared got a Diamond hand this Bitcoin and so I'll See you and your Satoshi at the top
