Why Is Litecoin Falling?????? Ill Tell You… (Substratum Analysis)

what’s going on YouTube heading back making another brand new crypto TV episode in today’s video we’ll be looking at litecoin Bitcoin a theorem as well as substratum so shout out to James Brooks if you guys would like to be shouted out in tomorrow’s video please make sure to subscribe to the channel as well as turn on post notifications and leave a comment below telling me what your top old coin is otherwise let’s jump into this episode today we’re just gonna refresh the crypto currency market cap we do have a lot to talk about today I know a lot of stuff has happened and obviously you guys have seen the dip and I don’t want you guys to be alarmed yes the cryptocurrency market cap is now less than four hundred billion dollars which is interesting we now see it at 383 sorry trillion dollars no million sorry 383 billion dollars I was correct the first time so we were over 400 billion dollars yesterday so a huge chunk of money has left cryptocurrency you can see almost 40 billion in the volume in the past day more money moving into Bitcoin or more is coming out of altcoins but a lot has happened and I’m gonna get into why exactly that has happened so we look on the coin market cap right now and you’ll literally just see a sea of red very very interesting to see all of this negative downtrend Bitcoin down 9% rippled down 15 aetherium down 12.75 Ripple almost down 16 percent like going down 11.7 I did want to jump into an article right now though that says on Forbes after Nasdaq CEO blesses cryptocurrency investors see bigger future for Bitcoin and others so interesting enough I’m just gonna skim through this with you guys it says forget the fact that Bitcoin and other major cryptocurrencies all fell on Wednesday today this is a legit market says the CEO of Nasdaq that’s some crazy crazy crazy stuff telling CNBC Bitcoin and other coins or more than a new reality it’s a new market trend there are new currencies and methods of payment as a result many traditional investors has concluded that they need to be in crypto which tells us that Nasdaq needs to open cryptocurrency into their trading platform she said I believe the digital currencies will continue to it’s just a matter of how long it will take before that space too much sure says Friedman on the CNBC today our seed BNC I think they spelled that wrong I don’t know Nasdaq is already supporting crypto exchanges which is interesting to over the few months they partnered with San diego-based ETF firm reality shows – launch – blockchain related funds if you were to rank interest in cryptocurrency on a scale of 0 to 10 Friedman when set would be a six so she would help the get the SEC comfortable with cryptocurrency trading she would not passively wait for them to get on board they wanted her opinion she would give it a thumbs up so that’s pretty awesome guys to see that now the bigger investors are going in be interesting because it is decentralized and there might be a lot of on-and-off trading you know some insider trading which could hurt the market but we’ll see with that happening a lot of new money should be coming into cryptocurrency now that’s gonna cover up that article we’re are gonna look at like coin on two different charts today but um before I wanted to talk about that has any of you guys invested in coinbase recently I was watching a few videos and got some other opinions that made me think you guys know how centralized banks work you put your money into a centralized bank and they hold on to it and grant you that the they are gonna hold onto it and that they have the safety that you will get that money when you want to take it out but when you give them that money yes the number shows up in your bank account but they are allowed to use that money for whatever they want investing trading whatever they’ll take it out of your account and give it to someone else but grant you that money when you want it back because they have enough they have the Federal Reserve I watched a video that coinbase does something similar which is interesting that the like coin if they’re in Bitcoin the prices are being suppressed due to the volume that they’re doing they’re kind of doing the same thing so instead of let’s say you buy coins on coin base instead of then giving you money for the coins from the open market they’re actually just transferring the coins from someone else’s wallet to your wallet or you know what I’m saying like they go in it back and forth they’re not actually taking it out of the open market which is interesting to me and I think that’s a very weird controversial topic it’s not allowing the volume to move up in cryptocurrency and I did see something like that on Bitcoin Ben I don’t know if you guys are familiar or watch that I thought that was very interesting so looking at light coins graph now on the 4-hour chart you’ll notice what has happened here so we have this up trending line right here you can see this trend line and you can see how we’ve used this numerous times as support for litecoin and today we did manage to break through it and we broke through our 146 resistance or sorry our 150 tubers support bringing us down to a resistance level now like I said in yesterday’s video we needed support you know we needed to retrace ever so slightly to regain that support we needed to come back down as you can see on the 4:00 hour we were extremely overbought and we needed that pullback and if you guys notice right now which is good that I like to see is what we’re very slightly below this level right here and if you notice on that level we’re around 60 on the RSI you’ll notice we’re literally maybe two dollars down from that price right there and we’re now I want to say 39 on the other side so this slight pullback even though this is a detrimental and a huge pullback we’ve lowered ourselves on the RSI and we’re very close to that level right here but we’re lower which is good and I expected to see a pullback because of how crazy high we were going and spreading away from this for this for our high low and a moving average so it was interesting to see us fall and when I saw us fall I did anticipate two things I expected us to come back to this line here and retest this and whether or not that was strong enough to hold I figured we would come back down to the high low middle moving average and retest that for support and that’s clearly what we did hopefully we can maintain that and stay before we go up this is the coinbase litecoin to u.s. dollars so we’re looking at that right now now when we go to the daily right now you’ll notice where we also had resistance so on the daily what I told you is we have huge resistance in between this channel of the high low middle moving average so I was anticipating a pullback of this sort because this is a very very very how can you say not detrimental but a heavy resistance area like there’s a lot of downwards pressure being forced on the market in this area in between this channel so I was anticipating us to pull down farther it would have been nice to see us break above the red band but I wasn’t you know all on board for that to happen and that’s pretty much what happened we couldn’t break through that red band now some people might say we didn’t retest the red band on the de Leon coinbase but I want to show you now with coinbase having lower volume like we talked about earlier if we show you litecoin USD to the finance chart so like going to USD on Finance okay that should be okay look at this now so this is the daily crypto chart on Finance so we’re not looking at this on coinbase this is the finance one and I drew these I guess you could call it symmetrical triangle pennant flag whatever both bull flag whatever it is you can clearly see this formation and now you’ll notice that this is higher and like I say you can connect the wicks or you can connect the actual candle so either/or I’d say is fine you can see there’s two here I chose to do the bigger one just because it’s kind of more reassuring so I left that here now one thing we can draw is the Elliott Wave so you click on this one right here Elliott Wave triangle and how you draw it as you start at the breakout with a zero bring it up to an a obviously this is a B this would be AC area right around kind of in this area right here we have D and then we have the breakout on e so this is pretty much a clear-cut pennant flag breakout and you’ll notice what happened here is if i zoom in on the daily right now even closer to this pullback you’ll notice what is happening so you’ll see on the RSI sorry not on the RSI pull that up yeah so this is a double top that’s one thing to pay attention to this is a double top we have one here and one here which is an indication of a downtrend that’s one the second thing is now you can clearly see that we are testing the resistance of the upwards red band so you’ll see we had resistance here on the green band and we managed to break through that but then you’ll see we couldn’t break through the red and I figured that would be an issue when we got in between this channel there isn’t enough volume yet to push us above here and this downwards pressure wasn’t just like coin this was all the blue-chip cryptocurrencies that we can look at in a minute so I was anticipating a pullback of the sort once we couldn’t break through here so on the daily this isn’t a big pullback so don’t be too alarmed cuz you look at this like this and you’ll see oh wow you went up crazy high okay we hit the high low middle moving average slight pullback but we’re most likely gonna come right back up and retest that and hopefully break through but what’s awesome to see now guys is the fact that did not mean to do that sorry is the fact that this huge downtrend this huge downtrend that started all the way back on December 14th of 2017 we broke above that’s crucial this is a huge resistance at the time but is now acting as support so if at any point we decide to go down farther we’re gonna end up bouncing off this more indefinitely that we I’m pretty certain we are we’re gonna bounce off that head up higher and hopefully break through here you can even see that on Finance litecoin has went as high as a hundred and seventy three dollars which on Mike on coinbase it didn’t so that’s interesting to notice – but you can see the resistance here so a slight pullback it’s okay there’s nothing to worry about you can see now on the for our what it’s doing which is another crucial thing so we look at the for our right now you can clearly see the slight uptrend right here just like that clearly see that uptrend and you can see we broke down but guess what guys look where we’re headed we’re headed right to this high low middle moving average and you can see the prices shooting off here it doesn’t want to be down here so we’re looking for a reversal candle now what’s interesting is we’re looking at the TD sequential and you’ll notice we have a seven candle downtrend we’re looking for it to end on a nine usually so this could go all the way to nine before it reverses and goes higher as you can see right now what we’re forming is a cross which is usually an indicated indication that we’re gonna see that reversal hopefully the bulls are pushing up hard harder than the Bears are you can see that’s why we’re higher up here and hopefully that’ll indicate a movement up so we could potentially just swing like this we could just swing up that’s very very very possible I don’t think this we’re gonna go farther we shouldn’t but this seems to be holding strong so I’m pretty comfortable that we are you can see we’ve tested it before and we popped up off of it so I think we’re gonna test it again and then break up higher and hopefully go up higher and the height that I think we’re gonna go is back up to that high low middle moving average and retest that I think we’re gonna go back up and test that right here right around 171 so I’m just gonna pull up the coin base one now and leave it on there because this is the one that I like using only because I use coin base but we’re gonna look at Bitcoin right now this is also Bitcoin on coinbase we’re looking at the four-hour right now I’ll change this to the daily and you can see what has happened so Bitcoin managed to actually break through resistance we managed to break through both the red and green band on the high low middle moving average clearly being oversold I mean overbought at this green candle right here but slightly pulling back to become more level on the RSI again this is even though we broke above it we didn’t close above it actually we might have I lied we might have we did close above it I believe so what I’m trying to say is this is still a resistance area this is still a resistance Channel so until you can see us bounce up and close just higher than it and above it then I will be more bullish on the market you notice we had a five candle then we closed below starting a two so we could see this go to a one to four candle reversal that’s what I’m seeing or a one to four candle downtrend so maybe two mores before we can start to see it move up higher very possible but I don’t think this is the end you can see we’re still floating around right here we’re using this $8,600 support level so hopefully we can stay true to that and then bounce up and break it again like we did last time that’s my take on it looking at aetherium aetherium seems to be good guys if they didn’t seem to be that much affected like at all which is pretty cool they seem to be doing their own thing like they usually do pretty much not much has changed I mean you can you can see clearly what it’s doing I mean like this is I mean I do I really need to explain this it’s literally just continuing its trendline and this pretty much is reassuring me now that this is definitely 100% its uptrend you could just see how clearly it’s following that obviously facing resistance here for multiple reasons one the fact that this is the high-low metal moving average to because it’s Strang way too far away from the support level and we may start to see a reversal soon we may see this go up very soon and see the rest of the market go up to starting probably tomorrow honestly we can start to see some higher highs whether we get above 700 I don’t know but we’re pretty much on this trendline and I don’t think we’re gonna break it hopefully we don’t it’s possible but I don’t think we are so we’re probably just gonna start the new candle and trade above so pay attention to that now looking at I believe this is substratum substratum yep yep let’s check out this interesting chart again seems to be a new crypto to the market which is okay well that’s clearly one right there I guess this would be one two resistance they’re just drawn in some resistance lines that we can kind of map out you can see these points where these flips are are usually signs of resistance and support or levels of resistance and support so clearly on an uptrend right here interesting chart or a slight uptrend in that case just bringing us up to that level right there clearly this is going to be acting as its major line of support our resistance right here right at that level I’d say so what I can see substratum doing is it’s what it’s trying to do is come back down to that high low middle moving average and that’s where I think it’s headed I think we need to come back down we were overbought right at this level on the daily so I do think we need to come back down and get some consolidation and support right at this level here right where the high low middle moving averages so I’m anticipating it to come back down to this level right here what you can see is support for sure you have this pop and then you have this river and then you have the resistance here before it went up so it’s definitely possible that it’s gonna come back down retest here and bounce up off of it and continue higher but it’s key resistance level right now is going to be this zone so pay attention to that when you’re investing in this cryptocurrency if you want it to swing trade but that’s pretty much gonna wrap up the video for today guys hopefully you guys liked it if you did leave a thumbs up as well as subscribe and turn on post notifications and I’ll see you guys tomorrow peace [Music]

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