Bitcoin Crash Happening! (This Is Bad)

**Nick Valdez** (0:00)
You can see it with your own eyes, Bitcoin is crashing. And we have now left this consolidation pattern that Bitcoin's been trading within for over 100 days. So what is the next stop for Bitcoin? And then after the Bitcoin chart, we'll look at Cardano, XRP, Solana and even Hyperliquid. But let's go ahead and dive into the Bitcoin charts. Now the first thing we're gonna talk about, I got a few things here. First thing is the bear flag on the small timeframes. Let's go to the one hour, and you'll hear people say, well, the flag can't go longer than the pole. That's not what we've seen with Bitcoin. We've seen the flag exceed the pole length. But looking at the one hour, you can see we had a target. We came pretty close to the target. We actually dumped a little bit lower than maybe even most people were expecting here. So what are the next stops for Bitcoin? So the first stop to the downside, that's what we're gonna talk about here. First stop I'm seeing to the downside, going back to the daily candles, is gonna be this area right here. You can see how it consolidated. You can see the candle bodies here. Nice, nice, strong support. Also, look at all the candle bodies that close right on this range. And over here, you can see, look at all the wicks that were closing right in on this range. And if we zoom out slightly, you can see, all right, well, you know, Bitcoin's first stop before it could continue its rally, before we hit above 100k, you see a nice little consolidation right here. So the first stop I'm gonna be looking at for Bitcoin's price is gonna be right at 65,800. But what is the macro bottom? What is this cycle's consolidation area? And the reason I'm bringing up consolidation areas, you can see where Bitcoin consolidates sometimes before a bear market bottom. This is the 2017 top, and we have a bottom over here. There you have a flag, you know, going much longer than the pole. But look at this nice consolidation. So what is the 2026 version of what we're seeing right here? Well, I actually have two targets for consolidation. So we're gonna look here. This is the previous run up. Now we're looking at June, May, April, 2024 There are two levels that I'm looking at. I'm gonna throw down a horizontal line so we can kinda see here. First level I'm looking at is this range right here. You can see it acted as resistance and you can see it acted as support right here. The next level I'm looking at is right below it where you can see this wick. And also you can see it also consolidated on the way up right here. So these two different numbers, 52,000 and 49,000. And when you look back, these are just some of the few clean places where we had multiple touches to the upside and to the downside. But now let's talk about this macro bear flag. What's the probability? And then, you know, I'll point out a couple failed flags to the downside. So look in here, you can see the flagpole, you see the long flag, and then we broke to the downside. And now I've told you several times that bear flags typically break to the downside. They break to the downside roughly 70% of the time. And you're not going to see the consolidation, you know, be exactly the flagpole, just giving you the probability of a downward move. Now this consolidation, this bear flag, now this bear flag is showing us a target roughly $42,000. Now I'm going to throw down another horizontal line, but we're going to change the color here. We've got ourselves a red line for the scary, scary area that we're looking at. Now, I said $42,000, $43,000 actually. Now, if you're trading Bitcoin in 2021, you know that is a very important range. You kept seeing $42,000, $43,000 over and over again. Here's $41,800, $41,900. So right there, here you can see you wick down perfectly to this range. This right here in the $43,000 to $41,000 range right there.
And you can see as we're knocking against resistance, this is also right in that range. Then we fell from $48,000.
But what are the odds that this plays out? What is the probability we're going to see this macro bear flag play out? To me, it is still looking kind of low. I still, and some people even have it higher. Some people even have scarier targets. Let's move this right here. I mean, some people are even saying we could potentially go to a $35,000, $36,000 Bitcoin. Me, I'm thinking this is going to be yet another string of failed flags. Now, I showed you the 2018 bear market. This was a failed bear flag to the downside. Let's go forward. Let's look at the most recent bear market. The most recent bear market, we had this textbook. Now, that is a textbook bear flag. But did this target play out? We did move to the downside. We did put in a lower low.