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[Music] hey this is David for big bits and I would like to thank all of you all for continuing to watch the channel know recently you might have seen some notifications of some live streams it was just music essentially what I’m trying to do by doing that not only do I like to listen to that music sometimes when I trade but I also am hosting that so that I can help my channel reach its goal watch time so that it can get monetized again I’ll rebranded the channel a while back and it reset all the data so we definitely have more than enough subscribers I’m just trying to get the watch time up and doing that has been a really good way to do that so I’m gonna leave those running if you see the notifications you can ignore them if you want to but if you want to hop in let me pull up my channel here you’ll see what I’m talking about you’ll see these calm ambient music these basically play music throughout the day and it’ll show a chart that I have created where it’s going to show the couple of indicators a one-minute not 5 minute chart and the chat will be up and sometimes I look at the chat and I’ll respond to people who talk there so if you want to check that out please do but I just don’t want you to feel like I’m annoying you if you subscribe and you’re getting those notifications those are just to try and help the channel out so if you could just go check those out maybe leave a like on those videos or leave them running in the background with the music on or something if you like that but anyway I did want to talk about the news today because it’s pretty big the stock market crashed very badly let’s go ahead and actually switch over to that switch over to the day-out let’s go to the daily chart and yeah it’s pretty bad it went down what 7 percent I think at the very beginning of the day and it halted trading immediately so there was a halt on trading it lasted 15 minutes and there was no trading allowed for 15 minutes which is pretty crazy and you can see there is a huge gap down on the open here and then once it gapped down it really started crashing part of the real issue was during the day there was just a ton of volatility you’ll see it gapped down on the open here crashed it halted and then price bounced and there’s a ton of volatility so if you were actually doing well playing that volatility probably made a lot of money but otherwise if you’re just holding and investments it was a bad day really really bad day and that really doesn’t do it justice it was absolutely historic day and stocks is terrible many people leading to believe that it’s going to start a recession and honestly we’re pretty much it seems like it’s pretty much gonna happen there’s a lot of other things going on I’m not one of these big-time financial guys who follows the entire but all the stuff out there I don’t follow the Fed and all that stuff but I’d have noticed they did their emergency rate cuts and they did some other things and Treasury bond rates are crashing it’s like there’s a whole bunch of things going on right now and it just doesn’t seem like it’s coincidence that the market is crashing at the same time after a ten-year build-up a ten-year bull run to all-time highs up here on the Dow near 30 thousand will take a look at the monthly chart and I’ll show you what I mean so the 2008 2009 recession started actually you could say back in November that’s when the all-time highs gave up and it ended in February of 2009 and that also happens to be when the Obama stimulus package was signed so if this does turn into a recession and there is a long period of prices going down and this is a recession then looking for a stimulus package after some period of time to help the economy recover seems like it was actually a really good idea and it did help but as far as the actual prices go this is a monthly chart and you’ll see this is a 200 month average on the red line we typically use the 200 moving average is a pretty significant average on our daily charts as well as some of the other smaller timeframes even the weekly well even more so than weekly it’s a bigger time frame but the 200 month is all the way down around 15,000 now you’ll see back in February of 2009 the prices fell well below the 200 month moving average which is a very long time that’s you know that’s many years of actual time for for a trade to have been open if you were to actually hold a trade for 200 months that’s a very long time and looking back throughout history that’s a lot of data to include in a trade 200 months it’s a very long time in real time so it’s very significant and you’ll see these huge moves that you’re saying don’t happen very often we did get something similar back here but it seems to be much more convincing that it’s going to continue downward based on the indicators that we’re looking at here and it’s crazy because the monthly chart we’re nowhere near close to being oversold so it very well could continue down and let’s take a look at the weekly on the doubt that is very similar in a sense that we have these values where they’re just continuing to drop and we have hit the 200 week moving average and we haven’t done that since when was the in 2016 and that was the election year so maybe this is something similar to that but you’ll notice the bands the Bollinger Bands stayed pretty tight there they’ve expanded really quickly here with a lot of volatility probably more so than back here so that’s something to keep an eye on as well the 200 weekly can serve as a period or a place where it can bounce it and I would probably expect something like that to happen this week but if it closes down here or even below it’s probably gonna lead to a full-on recession at least that’s what most of the people I’ve been following seem to be saying as well now that’s certainly not financial advice it very well could bounce and continue on but a lot of the fear is due to this oil crisis I don’t know if you heard about that between Russia and Saudi Arabia and I believe one of those Middle Eastern countries where they’re arguing about oil and just flooding the supply and it’s crashing the prices of oil just a lot going on and it apologize my head was probably in the way there a little bit but you can see the Dow a weekly way down and the daily really bad not only is the daily bad the indicators also look kind of bad you’re gonna have to hope for some sort of divergence here for a crash for a bounce on the daily but the stochastic the stochastic RSI the MACD all are pointing pretty much straight down still so it’s gonna take a lot of effort by people to prop this back up and pick it back up and you’ll see the moving averages on the daily look like they’re gonna be crossing over very soon and those don’t happen very often either on the daily chart you’ll see back here when they crossed over this was a very slight decline on the moving average they had it cross over and the 100 even went below the 200 but that was after a huge pick up in price and going back here there was another one but it doesn’t seem like this has ever happened in the last ten years or so with this much volatility so it makes you really think that this time really is different and this might actually be a recession forming so that covers all that stuff it’s a pretty historic thing and I’ve already kind of talked about some of the things that went into it but the headline from CNN business is a really good job of explaining this the US stocks halted after falling 7% I mentioned that the oil crashes I mentioned that as well and I didn’t mention the coronavirus that is actually spreading more and more so in the United States here and you can see there are examples of businesses schools countries even governments that are placing these sort of bans on what people can do colleges are moving their students well preventing their students from attending class in person and having them being educated online which there’s nothing wrong with that let’s see the the other examples were the sporting events being hosted with nobody in the stands they’re preventing people from actually attending those and I believe they said there are contingency plans in place even for like March Madness to where people would possibly be prevented from actually attending the games and they continue to have the games themselves so it’s definitely something very interesting but a lot of this is just kind of converging all at once to lead to this big event and there’s no real end in sight because it’s hard to tell when the oil issue is gonna be resolved and it’s even harder to tell when the issues and the fear from the coronavirus will dissolve there’s a lot of people who are scrambling to hoard supplies if you’ve noticed where I’ve mentioned all of the people have been requesting people kind of stay at home there have been governments tell people they can’t travel they can’t do certain things you’re probably gonna be stuck at home if it gets really bad where you live so people aren’t gonna be out spending money as much as they were maybe they might buy things online but that would probably be about it if you’re stuck at home and the government doesn’t even want you to go anywhere so it’s definitely something to keep in mind if it gets really bad people are gonna be stuck inside and they’re gonna be told they’re not allowed to go anywhere if it does get to that point and I’m not saying it will but there are a lot of people taking preventative measures to really prepare for that actual scenario happening and the numbers are increasing it’s in the news even more and more locally where I am we have had four cases confirmed in my state and it seems like most of those happened over the weekend so things are really accelerating where we’re at here considering we were pretty far behind and actually getting a case now also related to coronavirus the World Health Organization actually kind of mentioned crypto currencies and you notice a transition there I think that was pretty nice they mentioned crypto currencies as a way to kind of prevent the spread of these viruses such as the corona virus because you’re not working with physical cash and you’ll if you read the article I’m gonna try and put the link in the video description but if you read the article you’ll notice that these government’s have decided to take the banknotes from the people and store them in a safe for a period of time to let the virus die that is because people if they pass around money that has the virus on it they’re gonna spread a disease so what the governments are doing is they’re taking the money they’re setting it aside letting the virus die and then they can let the money go back but once the money goes back out as soon as it gets into the hands of somebody else who was contaminated or even in the presence of the virus and it could have got on those bills it pretty much starts the whole process over again so they actually kind of recommended this contactless payments and they did kind of mention crypto currencies as part of that which is really good and it’s one of the things we’ve been talking about on my channel for a while or the central bank digital currencies these are in development by pretty much every country right now some of them are even starting to test and performing real-world tests I believe the Bahamas have a specific Island where they’re testing I believe we talked about in bet in one of our videos and there’s some others I think the Swiss are also testing theirs as well but you can see where in the future a completely cashless society in the sense that you don’t have bills the physical bills could be a very good thing so that you could actually transfer money without having to actually touch another person where if something like this were to happen again it wouldn’t be quite as severe where people are just passing things back and forth with each other for the most part I don’t really do a lot of handling of things back and forth of people but that of course I worked from home full-time so I’m probably an outlier and in that equation but this is a really good article I definitely recommend you check that out you can also check out the coronavirus statistics just google that and you’ll see the cases they’re kind of starting to grow exponentially again after a phase where they acquit and of course people are saying that the Chinese numbers are completely made-up or maybe not completely made-up but probably not very accurate so it’s hard to tell the actual situation here even if it isn’t a high death rate on the virus itself even a very small death rate with a high infection rate is terrible it’s it’s really bad and I’m sure you’ve heard all this I’m not gonna go onto it anymore but I really wanted to talk about how it impacted stocks but how it also impacts crypto as well in a very direct way and between the fear in the markets and also potential solutions to that fear in the future okay so other than that there’s a few things I’ve been working on I’m not really going to go into a whole lot more in the video it’s kind of running long we’re at 16 minutes already my bad the one thing I’ve been working on lately has been this sort of social media bot that I’ve been building for myself I’ve been taking alerts that I’ve been getting and pushing those back out on Twitter and also on discord I’m gonna show you my Twitter profile here this is an example I set up trading view with an alert and it passed all this information into this social media bot that I’ve created and it’s sending all the information back out this is of course just a test but I have it taking a screenshot also putting a watermark on it and I think once I can find a good strategy or a good set of indicators that I can use for a specific alert I’m gonna set this up for several of the major crypto currencies and have it run full-time 24/7 on my Twitter and also on my discord I made a specific channel for it if you’re in the discord I apologize you probably got a lot of notifications if you were logged in over the last weekend because I had it acknowledged everyone who was actually online at the time so I apologize about that but this is coming along really well and I can’t wait to share that with everyone so if you don’t follow me on Twitter or you haven’t joined the discord already please do that otherwise I think that’s about it for this particular video you can always check out my trading view profile I have a couple of videos coming up we’re gonna be talking about a few different things I worked on my RSI call-outs a bit more we added some alert conditions to those so if you haven’t already checked that out please do that you can actually set an alert condition based on whenever you get an RSI call that basically just an RSI oversold or overbought alert but with one indicator instead of having to use the actual RSI indicator that shows up on the bottom of the screen there and let’s see we also have another RSI callouts indicator that uses multiple timeframes multiple resolutions so that you can require that not only the one-minute chart be oversold but also the five-minute chart also be oversold so it kind of helps me sometimes when I’m looking at the chart when I see an alert on the 1-minute chart that it’s oversold or overbought sometimes you might be tempted to go ahead and make a trade there now sometimes it works out a lot but in my experience it seems to work out even better when the larger time frames are oversold and the ability to set those oversold levels the custom values makes it I think pretty helpful except for the last few days where the price is pretty much just went straight down on Bitcoin so yeah and that’s one thing I didn’t mention we didn’t really go over the the Bitcoin price or any that ta and stuff we’ll do another video about that later this week I really wanted to focus on kind of the news of what’s going on and what we’re doing but that’s pretty much it for the video now I’m sorry I kind of went on a little extra at the end here but if you like the video please leave a like that really helps me a lot also subscribing and actually watching the videos helps a lot we always have new content coming out and as always if you have any requests please leave a comment I’ve actually been invited to the trading view streams in beta and I’ve tried that out we’re gonna take a look at that again and some of the mods and admins at trading view have been in contact with me and and that’s been pretty cool as well but that’s about it for today I hope you all have a nice day well actually it’s pretty late here so I have a nice night [Music]
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