Key insights

• ⬇️ Historical patterns suggest a dip in Bitcoin price in Q1 of the having year, Potential pullback to 15-30% below the yearly open based on previous cycles
• 📉 Bitcoin's recent drop is consistent with previous corrections, and it could slowly fade back to the bull market support band. Trying to time the market in the short-term may not make sense
• 💰 The speaker buys when the risk is low and takes profits when the risk is high. The 50-day moving average indicates potential support levels for Bitcoin
• ⚖️ The fear and greed index is at 48, showing higher lows and higher highs. Recommended strategy based on risk levels for navigating market volatility
• 🔄 Altcoins depend on Bitcoin's performance, Bitcoin's movements impact altcoin market volatility. Market performance closely follows the year-to-date ROI of 2016
• 📊 The speaker discusses the historical pattern of early-year drops in the cryptocurrency market and the importance of having a plan to navigate potential larger drops

Q&A

• What are the key support levels for Bitcoin as discussed in the video?

  The 50-day moving average is indicated as a potential support level for Bitcoin, and if the current support band doesn't hold, the 100-week moving average could be the next level of support.

• How does Bitcoin's performance impact the altcoin market?

  Altcoins are highly dependent on Bitcoin's performance, with its movements significantly impacting the altcoin market due to its volatility. Bitcoin's dominance tends to rise as it falls back into the bull market support band.

• What strategy does the speaker recommend for navigating market volatility?

  The speaker recommends a strategy based on risk levels for navigating market volatility, emphasizing the importance of having a plan to navigate potential larger drops in the market.

• What does the recent drop in Bitcoin's price indicate?

  Bitcoin's recent drop is consistent with previous corrections, around 8-9%, and it could slowly fade back to the bull market support band. Trying to time the market in the short-term may not make sense.

• Why is it important to stay true to the chart amid potential conclusions from the drop?

  Staying true to the chart and not jumping to conclusions from the drop is important to avoid making hasty decisions based on short-term fluctuations.

• How much has Bitcoin dropped from the yearly open?

  The current drop in Bitcoin's price is around 8-9% from the yearly open.

• What historical patterns suggest about Bitcoin's price in Q1?

  Historical patterns suggest a dip in Bitcoin's price in Q1 of the having year, with a potential pullback to 15-30% below the yearly open based on previous cycles.

• 00:00 Bitcoin may experience a dip in Q1 based on historical patterns, with potential pullback to 15-30% below the yearly open. Current drop is around 8-9% from yearly open. Staying true to the chart is important amid potential conclusions from the drop.
• 02:49 Bitcoin's recent drop is consistent with previous corrections, and it could slowly fade back to the bull market support band. Trying to time the market in the short-term may not make sense.
• 05:00 The speaker buys when the risk is low and takes profits when the risk is high. The 50-day moving average indicates potential support levels for Bitcoin. The 100-week moving average could be the next level of support if the current support band doesn't hold.
• 07:14 The fear and greed index is at 48, showing higher lows and higher highs. Previous cycles show Bitcoin pulling back in Q1 before testing support levels. A strategy based on risk levels is recommended for navigating market volatility.
• 09:26 Altcoins are highly dependent on Bitcoin's performance. Bitcoin's movements impact the altcoin market due to its volatility. Bitcoin's dominance tends to rise as it falls back into the bull market support band. Despite recent pullbacks, the market is still closely following the year-to-date ROI of 2016.
• 11:48 The speaker discusses the historical pattern of early-year drops in the cryptocurrency market and the importance of having a plan to navigate potential larger drops. It is emphasized that sticking to a plan is crucial, and potential outcomes are outlined.