chainlink staking coinbaseThe Crypto Pullback Weve ALL BEEN WAITING FOR! Bitcoin, Ethereum, ChainLink, & Cardano Analysis

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chainlink staking coinbase we3 summit chainlink The Crypto Pullback Weve ALL BEEN WAITING FOR! Bitcoin, Ethereum, ChainLink, & Cardano Analysis
all right whats going on you guys its royce jacob welcome back to the channel in this video i want to talk to you guys about the pullback we all saw coming in the cryptocurrency markets lets get straight into it as always well quickly go over each topic that were going to be discussing and well dive in each one individually in front of us of course trading weve got a lot of price action talk today we will be spending the majority of this video on the charts so well talk bitcoin well talk ether well talk chain link and well for the first time on this channel were going to be covering cardona okay so we will of course cover price action uh in news to absolutely none of you at this point cryptocurrency uh the entire market as a whole has been shedding billions of dollars we have seen a pullback over the past couple of days which again was to be expected weve been calling this for a minute now so excited to talk to you guys about downside price targets upside price targets for the first time in a while which is exciting as well and uh yeah just talk shop with you guys so of course we will spend the majority of our time on the chart today once again going down the watch list talking each of uh each of these big names in the crypto markets alright and then we have one article well actually kick the video off with this once we actually get into it okay so uh this article i want to bring up with this beautiful with this beautiful dramatic artwork um it is titled 150 billion wiped off cryptocurrency market in 24 hours as bitcoin pulls back by cnbc so theres a couple reasons i wanted to touch on this article specifically one because its cnbc and this just highlights how mainstream media and a lot of these headlines a lot of these headline chasers really um do play into kind of the the psyche of the crypto markets okay so the reason i want to talk about this primarily is not to cover uh the fact that we are seeing a correction but how how this affects the psyche of investors of newer traders if people are just getting into crypto and how weve seen this in the past like 2017 its 2017 all over again so weve seen this before i want to talk to you guys about what this means to me personally and how i kind of dictate some of this stuff all right so that is bitcoin again we will be spending the far majority of the time on the chart today just talking price action just getting down to business but at the end of the video if you guys do want to stick around which of course i will appreciate it i want to talk to you guys about a new feature a new staking feature that our partners over at apollo fintech have just recently implemented to their goldback cryptocurrency gsx super exciting you guys if you guys happen to watch that video of me covering gsx a few weeks back its this video right here titled goldback cryptocurrency the perfect investment for 2021 i think this project is super cool you guys know im bullish im a long-term bull on precious metals im obviously bullish on crypto so this is a very cool company to me they just implemented a staking feature which is uh what well go over too so we will learn what staking is do a little a little class time little education here because staking in my personal opinion we will cover more in the future of course but staking i think in this new 2021 bull market is going to be is going to play a big part so proof of stake um cryptocurrencies that are built on proof-of-stake blockchains i think will do very well over the course of this year so well learn what staking is well get into this and uh yeah again if you guys dont want to stick around for that its perfectly fine but again i would appreciate it if you did that said before we dive in to the charts and that article i will ask you guys as always to please give the video a like if you do go on to gain value from it today subscribe to the channel if youre new around here and of course check out my complete portfolio daily newsletter first link down in the description if you want a complete breakdown entire portfolio update that every single trading day during market hours with every update i do also send out a daily newsletter also during market hours explaining my thoughts so talking through all the trades this morning for example again were just covering crypto in this but this morning covered covered riot mark covered moderna covered some biotechs covering some a new exciting ev play i shouted out a-l-a-l-y-i thats a tongue twister right there but again that is kind of foreshadowing whats to come i will cover some of these exciting plays over the week focusing on crypto today but if you guys want that day-to-day update of what stocks are exciting me cannabis of course cannabis did very well today so um again if youre interested in that first link in the description really appreciate it if you check it out um as well but of course if not no worries at all lets get in to this article and then hop into the charts all right so once again cnbc probably the the most mainstream finance related media outlet um out there okay so 150 billion wiped off cryptocurrency mark in 24 hours as bitcoin pulls back uh again i want to talk to you guys kind of about the psyche of this quick and just how this is a necessary part like corrections are a necessary part youre gonna be seeing these headlines these scare tactic headlines um cryptocurrency market uh i think bloomberg posted something this morning which is also obviously a very mainstream media outlet um bitcoin cryptocurrency market shed billions of dollars like fears of 2017 are like memories of 2017 plague investors again so just be cautious about all this you guys theres going to be a lot of fun theres going to be a lot of negative headlines just like this a lot of negative articles because this was the third most read article like just scrolling down here you guys can see on on cnbcs website trending is number four is this okay so keep in mind you guys this is a bull market but its also a full a fomo very hype driven rally and uh its just important to keep in mind again get get psychological uh you have to apply game theory to some of this stuff all right so lets quickly go over these key points and then hop straight into the charts all right bitcoin and other digital coins uh tanked on monday wiping off some 150 billion dollars from the entire cryptocurrency market bitcoin the largest cryptocurrency fell over 10 from a day earlier to 34 200 according to coin metrics data the selloff in cryptocurrencies comes after a huge rally and perhaps signals some profit taking from investors so again you guys we just talked about this over the course of this weekend in that crypto convo in yesterdays stock watch video uh investors the whales the lara the money the market makers are going to want to start taking profits when you have when you have billions of dollars in like tied up in an asset and this thing is going parabolic its going to the moon its only responsible to take profits okay so this is a lot of large investors a lot of a lot of whales once again taking profits when they take profits that does uh again it doesnt completely dictate price action but it definitely dictates direction okay so again you guys just be mindful of this dont let it scare you off uh want to make it very clear as always that im very very long-term bullish on bitcoin from a fundamental perspective but that doesnt mean that corrections arent a healthy part of every bull market so lets get into the charts here and talk this correction as you guys can see here as we covered briefly yesterday well go a little more in depth in this one uh beginning january 9th a little later in the day bitcoin started to fall off a cliff and we finally saw that correction shout out to the fam if any of you remember let me know down below drop a drop a comment down below i think a few weeks back close to new years we called for that january 10th correction roughly and again we were a little early on that one like riot mar you guys were off a little bit but i do want to celebrate this one we timed this one out almost perfectly so that always feels good again not to brag but its just a testament to putting hours and hours into your craft all right so weve been seeing that pullback bitcoin went from a high of 42 000 down to a low earlier this morning at about thirty thousand so lets do a quick price range on that and see what pullback um see what percentage what percentage that pulled back to okay so we saw almost a thirty percent correction okay so thats what ive been saying you guys these things can happen so fast like as fast as they can go up they come down even faster all right so we saw some crazy red candles the first pretty significant sell-off of this bull market once again especially this 2021 bull market so 30 correction very standard coming all the way down to 30k which was one of the initial price targets i had but the thing here is this candle did not come down completely to test any of these trend lines which makes me believe we will continue to go down further were seeing a bounce now dead cat bounce uh in my opinion so dead cat bounce you see a sharp move like even sharp move down im sorry followed by an even sharper more more sporadic move up followed by a pretty steady trend down so i believe after this we are kind of printing a head and shoulders pattern uh just to hint to all of you guys today riot and mara were printing pretty textbook head and shoulders patterns on the short term time frames this morning um again sorry were not going to cover those but just want to let you guys know the crypto market does again its all one big ecosystem they all do hold some semblance of correlation to each other okay so head and shoulders left shoulder head coming down theres gonna be a steeper right shoulder but i still believe its gonna play out similarly to uh what all of you know is a traditional head and shoulders pattern again left shoulder head right shoulder will probably resolve around this air i hate not doing my videos in one take but my screen recorder just crashed so i apologize for having to splice this one together that said were gonna pick up right where we left off talking bitcoin completing this head and shoulders pattern okay so left shoulder head right shoulder i ultimately think um it might not its probably not going to be a straight straight move down but i do still ultimately believe this pull back will be resolved over the course of seven to ten days and we will come down to this area that we used as a very significant ceiling back in december spanning all the way from december 16th to the 24th so over a week we spent a lot of time right underneath this area around 24 000 and use that as a significant ceiling prior to bitcoin straight up parabolic breakout okay so again what was a strong previous area of resistance will be new support that is ta 101 right there and again that is the first high we set on this rally so its very common also for bitcoin to revisit its initial high its the initial high of its current rally in a pullback in a corrective state prior to resuming that overall uptrend okay so again my first price target as im sure you guys assume in the yellow right here is around this area at about 28 000. so theres a few reasons for that that coincides nicely with the first point of contact on this uptrend so this line of resistance that ive drawn thats i do believe will come into play after we resolve this correction and see uh see a confirmed reversal ill just say it right now my price target on the upside um once we do start ripping up again is just under 60 000 around 58.5 okay so ill talk about that now well of course talk about that uh when we uh when we come to that bridge when we cross that bridge uh whatever that scuffed that saying but you guys know what im talking about um that said still in a pullback still i believe going to play out this this more medium term head and shoulders pattern and it probably will time out similarly to how this played out okay so this left shoulder um from like here which was on january 1st to the top here which was january 7th that is seven days again just intuitively just seeing a lot of bubbles play out over time you guys i do expect this entire like not only bitcoin but the entire cryptocurrency market because weve ripped for like a month i think this pullback will last at least a week hold backs are usually happen usually unfold a lot faster than the price rises and the price appreciation but um that said again my first price target is around this first peak that set this initial high on this line of resistance on the short-term rally up that would take us to about 28 000 im personally comfortable accumulating bitcoin at 28 000 but im still fairly confident in the fact that we will ultimately resolve this um this short term pullback ultimately by coming down to about 24 000 so im very comfortable buying bitcoin at 24 000 increasing my current positions um reestablishing the like the full aspects of some of my positions shout out to the newsletter fam you guys know what im talking about there but again like full price target i doubt well come all the way back down to 20k in all honesty but im personally very very comfortable accumulating bitcoin at 24 000 okay and again we can talk about this price target uh this this this top side price target once we once we get around to it but lets move on here lets get into ether okay so ether seeing a pretty significant pullback as well right now of course lets see what the pullback is right here from the top to the bottom i believe ether reached like 13 13 50. where are we sorry its this one you guys i just had this my bad okay so from top at 13 50 out of 13.50 were getting real close to all-time highs here guys two 9 13. that is a 32.5 correction um again you guys because weve ripped so hard because were up hundreds of percent on on some of these plays um this is not to be this is i mean this is nothing out of the ordinary guys so as i just covered i believe on saturday and saturdays video on the crypto convo where we were talking i believe this area would come into play right here you can see it kind of coming into play as we were pulling back you saw you saw two 400 our candles bounce almost perfectly off that come up ultimately break back into this ascending channel that ether has been in for a very long time its more medium term ascending channel beginning uh december 9th its currently in there its currently broken out uh so its not currently in there it did dip in there for a little bit but its currently back outside of it i do still think you guys we will see another move down uh ether because it went ups more sporadically than bitcoin beginning on on the first of the year kicking off 2021 with an absolute bang so ether went from from 744 to again 1350 which is almost a 2x youre looking at almost 100 appreciation so again a 30 to 40 correction is not out of the cards i wouldnt be surprised if ether comes down to test this area and that is the ultimate area where ether um id be comfortable personally i will move this back down here explain what this is quickly but ether i would be personally comfortable picking up ether again because its not at all time highs yet unlike bitcoin i do think all coins are gonna start to see some love uh i would be comfortable picking up ether once it tests the bottom side of this channel i think thats probably where itll bottom out and then start to see that reversal that uh that we will be talking about right after this and that would take us to about 920 okay so we pretty much got we almost got there just today we actually did we actually got below that today at 9 10. um so again you guys because this charts so steep these these angles are going to be steep wherever they choose to touch the tread lines is going to be a fairly significant price difference but its important not to get greedy at times like this whenever whenever things are pulling back dont try to catch the bottom like catching the tops its hard to catch tops its equally as hard to catch bottoms so if youre in a range where you feel comfortable accumulating then you probably do it if you believe in the fundamentals long term like i do personally so again because im expecting ether to pull back to about 920 uh id honestly be pretty comfortable accumulating right now like i do believe of course ether is gonna be way higher than it is at the end of this year but again as a swing trader im trying to do my best to optimize profits and make content for you guys and share my thoughts with you guys as well okay so ether i believe ether will probably come down to about 950 920 at that point ill be comfortable accumulating uh similar to bitcoin i do believe this short term uh short term trend line sorry guys im trying to bang through this one short-term trend line uh will come back into play once we see that reversal once we confirm the reversal off of the pullback and that would take us to say we hit it um uh january 21st january 22nd where the where the end of this trend line i drew was that would take us to a 1740 ether all-time highs i think ether is due for for a round i think altcoins season could be right around the corner um and we will be talking about all coin season more and more okay so ether top side price target 1740 well again well cross that bridge when we come to it uh bottom side price target id be comfortable accumulating ether personally at about 920 dollars chain link again getting into those all coins getting into all season so chain link uh really dancing around this again what was like the most textbook ascending channel ive ever seen in my in my years of trading beautiful ascending channel dipped below for a little bit back above it broke out of it short uh broke out of it briefly when everything else was topping out but keep in mind you guys chain link is still below its all-time highs as well that it just said earlier this year chilling absolutely ripped earlier this year all the way up to a high of twenty dollars i think its very likely that we could see at least a hundred dollar chain link by the end of this cycle um keep in mind guys i i bought i bought ether at like 45 back in 2017 and went all the way up to 1400 okay so all coins if you pick the white right one the returns can be absolutely insane and i think chain link can definitely um because i like chain link as a company i believe in the oracle solution that chain link provides i really like chain link both fundamentally and technically okay so chain link currently at the bottom of what was once and still is honestly a very strong ascending channel although its broken out and above and below at certain points in time it usually spends the majority of its time its spent the majority of time over the past few months in this channel its currently inside of it and uh chain link i think could see a short sporadic move up um to once again test the top side of this channel so because its back in here we might fall below it just because the rest of the cryptocurrency market is of course falling is correcting but i do ultimately think uh this is a very safe play if youre at the bottom of a channel um keep in mind you guys this is not financial investment advice i think this is a safe play personally but who knows we could again like i just said we could continue to tank so chain link i do think we could come up like very easily come up to test the top side of this channel that would take us to about 18 and 40 cents per channeling token per link token and again i do ultimately believe that at some point in the near future when we see this next leg up after the short term correction chain link will go on to set new all-time highs all right so that is chain link lets close it out quickly with cardano ada sarah i was thinking i started talking so fast you guys um i just had again we just had that little that little mess up with the screen recording so that threw me off in all honesty and i got to get home because we have a family meeting were going to watch a college playoff so please forgive me for that but i had to get this content to you guys how to get that daily video out there all right so uh again please forgive me for just rambling and stepping all over my words today so cardano again a play that weve never covered on this channel ive obviously been in this space for so long cardano has been on my radar for a very long time i have kept a close eye on cardano never really i just never really got the project i know a lot of people love cardano please let me know down below if you like cardano if you want me to cover it more ive personally never been the biggest fan but thats because ive never really done extensive research on it maybe its a very cool project please you guys educate me if you guys really like cardano but i figured there are some of you i do see it in the comments i do get a lot of questions about it so i figured id cover it and just uh hopefully get some feedback from you guys on what you what you personally think about cardano okay so cardano is looking pretty good short term so cardano actually corrected very significantly lets take a say a quick price range on this so from its peak at about 35 and a half cents down to its low uh were looking at a 35 correction so similar to a lot of other altcoins um but cardano is actually in kind of this wedge pattern and short term i think cardano could actually see a more significant bounce than a lot of the other cryptocurrency tokens out there just because it has said this downtrend right here so cardano obviously is setting this down trend and i want to be surprised if we see a bounce in cardone maybe all the way up to test this um but again because the entire cryptocurrency market is correcting im not going to say thats super likely the what looks good for me from what looks good in my eyes from cardano is the fact that we see this candle right here one of these um just over the past few hours test this first high before cardona absolutely ripped up from like 22 cents all the way up to 35 cents so crazy percentage gain right there it did come down technically bounced off this initial high prior to popping off which means we could see this see this bounce up i would not be surprised at all to see cardano come and bounce all the way up which is a significant bounce all the way back up to 33 cents but i do ultimately think we will correct probably all the way back down as we zoom out um to this area to this red line right here prior to continuing again what is going to be this very significant rally a lot of people love cardano i believe at the time of recording its the seventh largest cryptocurrency um so i know again thats why thats why im covering it a lot of people love cardano and uh i should get more educated on it which which i will i will maybe make a cardano specific analysis in the future um but again you guys i just wanted to throw this out there give you guys some my quick thoughts on the charts uh in case you guys were interested okay so cardano again could bounce up i do ultimately think we will resolve around this area you take this initial high right here from this rally in mid-november this touch point here this touch points over a month later on december 29th creating a very very conservative uptrend um and line of what will be support so if we bounce off this i do think it is likely that we will come ultimately down here retest this initial high prior like the real initial high prior to this parabolic rally which would coincide pretty closely to this trend line to this long-term um line of resistance which will be new line of support on this more medium term uptrend okay so if we do see that play out again maybe bounce up here but i do ultimately think over the course of the again the next seven to ten days which i will reiterate that thats how long i think this crypto pullback will take to play out uh i think we can get down to about 20 cents okay so 0.205 usd is the ultimate low term price target for cardano and at that point after i do more research maybe ill uh consider establishing a position if we can get to those levels okay so again i hope you guys like that i hope you guys were able to get some value out of this and uh yeah lets get into this gsx review uh once again if you guys i would really appreciate it i do obviously think this is a cool project if you guys havent watched this video i recommend you do because i went over what what apollo is what what apollo fintech is there the company behind the gsx token behind this goldback cryptocurrency and again because im a long-term gold silver precious metals bull and im definitely a crypto bull as all of you know i think this is a very cool project and im stoked to be partnered with them and i want to share this new feature this new staking feature with you guys okay so well move down here and go to this quick state so its very easy if you guys uh for any of you guys who already have an apollo an apollo wallet or gsx um this will be right on your home page stake your gsx for up to a 30 return so before we get into this in into this at all lets talk about what staking is so this is a coin based article coinbase um and of all the articles i looked up just brief explanations of what staking is this ones really really short sweet and to the point so thats exactly what i wanted to do for you guys get a nice quick drop some knowledge in here real quick so what is staking stake it is a process of actively participating in transaction validation similar to mining on a proof of state blockchain on these blockchains anyone with a minimum required balance of a specific cryptocurrency can validate transactions and earn staking rewards so staking is pretty much if you hold your crypto hold a crypto that works on proof of stake again like riot and mara are bitcoin miners when a cryptocurrency is built on a proof of stake blockchain thats pretty much when you just hold that cryptocurrency in a wallet and keep it running its it it acts it does the exact same that all those mining machines do for that blockchain okay so it validates the blockchain by just you holding a certain amount the minimum required amount of that cryptocurrency in your wallet all right so how does staking work when the minimum when the minimum balance is met a node deposits that amount of cryptocurrency into the network as a stake similar to a security deposit the size of a stake is directly proportional to the chances of that node being chosen to forge the next block if the node successfully creates a block the validator receives a reward similar to how a miner is rewarded in the proof of work chains so bitcoin proof of work chain you need those miners to validate the blockchain proof of stake if you just have enough tokens and keep that wallet running then that does the exact same thing okay so its very efficient its actually again thats why i say i think these proof of stake blockchains and cryptos built on on pos blockchains are going to play a very significant role in the future of cryptocurrencies validators lose part of their stake if they double sign or attempt to attack the network so were not going to get into that right now lets talk about this real quick um but again you guys just quickly going over some of the numbers actually no well download the pdf because those numbers are right in here anyway apollo fintech ive always loved this logo right here gold secured currency the worlds first growth coin so what is staking again you guys dont need to know that because we just covered it how do i benefit in the case of gold secured currency there are three staking contracts you can enter one year locked up upon the contract expiry of these locked coins you will get 10 reward of the stake to amount two years you get 20 in three years you get 30 how do i stake my gsx staking your gsx is very simple for each of the three offered contracts there will be a public wallet address youll be required to send your gsx coins to the associated wallet address before the deadline date and time okay so these actually uh the deadline is january 15th which is why i wanted to make this kind of asap thats at the end of the week so if you guys are interested in this of course you guys this is not financial advice although i like this project it doesnt mean its for you please go watch this video i made again talking about what apollo is what gsx is and of course do your own research check out their website i recommend this for literally everything we ever talk about always do your own research to know if its for you and always make your own decisions okay get just because i think its cool doesnt mean it is objectively cool its just my opinion upon setting your gsx to one of the following addresses the same amount of the corresponding uh return currency will send be sent back to the wallet that sent these contract funds all right so you pretty much if you do have gsx already just send it to one of these whichever of these addresses you want to lock it up in you want one year for ten percent two years twenty percent three years for thirty um its up to you obviously youre incentivized to stay uh to keep it in there for longer because um the return is greater so thirty percent over three years is pretty uh pretty solid or thirty percent a year over the course of three years is is very solid like as far as interest rates go that is pretty impressive so uh again the kicker here is you cant withdraw it you cannot withdraw if you if you send your gsx to this address you cannot withdraw that for three years your gsx will be worth significantly more at that point because obviously youre getting that 30 uh annual pretty much annual return off your gsx being staked but you cannot withdraw it so keep that in mind if you do this you cannot withdraw thats a very important thing to understand when youre staking okay it is locked up thats why its called a three year lock up sending gsx how do i send my gsx to the required stake and address inside your apollo wallet navigate to currencies my currencies click on the transfer button beside your gsx options so again you guys this is pretty i always just go look at this file for yourself if youre interested in this im not going to talk you through this i know youre all competent and smart enough to do this so its its straight up again if you sent cryptocurrencies just choose one of these wallet addresses and youll figure out how to send your gsx to to one of these addresses again if you do want to engage in this once again guys before i close it up do your own research on this again i think its a cool project i will i cant say whether or not just legally if im if i am participating in this or not but i think you guys know what im doing there i do have a pretty significant amount of gsx so um looking forward to trying this out and uh seeing what its about for myself maybe but again if you guys are interested ill drop the link down down in the description you do get a 5 bonus of gsx when you buy plus a bonus because i know theyre always doing bonuses so wheres the uh im not gonna go into that now again you guys watch the watch this video i made i dont want this to uh run on too long but watch this video to actually understand what gsx is definitely if you if you havent watched this video definitely dont do anything until you watch this video or of course do your own research because youre all perfectly competent individuals okay so i appreciate you sticking around if for some reason you still happen to be here i truly appreciate you and uh yeah let me know what you thought about any of the stocks or any of the cryptocurrencies we talked about today if youre excited about ada if you personally hold ada please drop some knowledge on what ada is why you like it personally and uh yeah ill look into it more for myself and of course btc eth link all plays ive been bullish on for a very long time so uh yeah drop a comment down below look forward to talking to you guys downstairs and until next time i gotta go watch some football so ill catch you next time until then always remember take action make waves peace How long do you think itll take for BTC to reach $200k? Let me know in the comments! Also, you can support the channel by liking the video and checking out the links below.🏼 Appreciate you. 🏼 Stake Your GSX Gold Backed Crypto with a 5% Bonus!: My Complete Portfolio + Daily Newsletter. This is a complete list of my options, stocks, and cryptocurrency positions. I update it every trading day during market hours, and send out an email newsletter explaining my thoughts. - WAVE$ Product Line- Must reads if you’re interested in Crypto: The Bitcoin Standard: Bitcoin Billionaires: My personal favorite investing books: - The Intelligent Investor: - Principles by Ray Dalio: - Rich Dad Investing: These books changed the way I think about money: - Money Master the Game: - 4-Hour Work Week: - Rich Dad Poor Dad: - The Effective Executive: Remember guys, take action and make waves in these markets! Understand that this is not financial, legal, or tax advice. I do not guarantee a particular outcome. 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