Breaking Bitcoin – Bitcoin Hunts Short Sellers – Live Cryptocurrency Technical Analysis



hey what's going on everybody thank you so much for joining me tonight for another breaking Bitcoin market update my name of course is Justin Weis leave analyst and senior mentor at crack and cryptocurrency comm hope you guys are having a fantastic Saturday evening excuse me hope you guys are having a fantastic Saturday evening hope everything is going well for you on this lovely Saturday have absolutely no volatility in the markets I mean it's like pulling teeth out there I want to give a big THANK YOU to everybody following subscribing that's been coming by lately I enjoy spending the times with you we're gonna experiment with doing the weekend shows in the evening as opposed to during the morning obviously we're here Monday through Friday at 12:00 p.m. Central Standard Time every day to break down the markets show you the trades that we're putting on as well as talk about news and other technical analysis events in the cryptocurrency space but for the weekends guys I'm a family man and it would be nice to be able to have a little bit of time a little bit more time I'd say to spend with my family so we're gonna experiment with this later time on the weekends we're gonna see how it goes tomorrow we're gonna be here at 5:00 p.m. Central Standard Time so set your clocks for that let's see interesting stuff today I do see Ani I see in the chat so let's talk about let's talk about what's going on let's just go to the charts guys let's hop over here sorry let me get this set up there we go that's interesting I reset my monitors up last night and it must have resized some stuff okay great all right so here's what we're working with your guys thanks JC let's see well I guess here's the thing drought I don't I'm not in charge of whoever decides to help me support me out send help my way watch me I appreciate the attention though I guess I don't really know where you're coming from JC aetherium please all right yeah no problem I'll check out aetherium hey cannon man thanks for joining us in the chat guys all right all right so here's what we're working with man I got a lot of alerts on my phone what's going on and we get it let's just go ahead and silence that that's not the that's not the important phone that's not the business phone hmm well thank you drow I guess your thoughts and comments have been taken under advisement anyways moving on guys alright so here's what we're working with looking at the weekly chart not a whole lot has changed guys still absolutely very little volatility we see the Long's getting stopped out we get the shorts getting stopped out this is not really an area where I want to be entering any kind of position or putting on any position there are lots of other coins right now especially if you're on bit Mex that are exciting that are interesting that are trading with a little bit of volatility and even if they're not trading with high volatility even if they're not trading with a lot of high volatility there's still at interesting price points to be looking for positions to put on there are several ones where we're waiting for confirmation for us to make a move some are sitting right on report but they excuse me some are sitting right on support but they have not responded off support and what I do want to see especially in the slow period of Allaah Atilla t we know that a highly volatile move is going to follow you know as you compress as you as you contract price the expansion period is going to be more volatile the long lead the longer that you become compressed and you can see right here they're all in closing basis Bitcoin has put in almost 14 days of contraction 14 days of fairly significant contraction so the expansion that's gonna follow this should be fairly significant but there's just not clear signs to the upside or to the downside if I were a betting man and I'm not gonna bet my opinion I would expect to see a quick stab down to tap into support levels before moving back up because as I said many times Bitcoin is currently range bound on the weekly timeframes on all higher time frames and when price is range-bound you trade the range I'm not expecting any kind of breakdown below three three thousand and I'm not expecting any break up above four thousand for the time being Bitcoin it seems to me is clearly stuck in this range where we do want to get a lot of people I guess situations like this are also forms of capitulation where things are extremely flat extremely sidelines and it can go on like this for quite a while now not in this absolute tight of a range if you recall if we return if we return to previous times you can see the volatility that happened the laugh time the Bitcoin contracted like this the last time the Bitcoin contracted like this we were live-streaming during this whole time and we went through three weeks of just absolute no volatility before an extremely almost 50% move to the downside pulling us down into this Nixon range right here now I've seen a lot of charts that other people are throwing on yeah no problem sure I'll look at B & B now I've seen a lot of charts that people are throwing on for Bitcoin the people are talking about descending triangles okay here's the only problem with the descending triangle for any trendline you're gonna need at least two touches and you only have one touch of support so you have no metric to determine yes currently you do have horizontal support right here initiated by the close of this candle in the open of this candle you do have horizontal support right here however however you don't have a second touch in that level of support to establish that this is a confirmed area of support right now the only reason that I would be targeting this in this area which I am is the psychological significance of the previous yearly low the psychological the psychological significance of 3,000 that round number very key area to place and what would we expect to see here well if price falls down again we have several things coming in so let's go ahead and throw on our moving averages we have some interesting things coming on just as I've said here for a while this kind of makes it very clean we have our 200 simple period moving average we have our 200 period exponential moving average a locking price and now there are other people that make this the crux of their technical analysis so we'll try to dive a little bit deeper beyond that however I just want to point out that that 200 simple period average has moved up a little bit and as we zoom down to the daily timeframe we will see right here this hvn so we're gonna front run this hvn you can see that the top of this high-volume node is coming in right around 3216 3281 and if we simply place our support level at the very top of it which does line up on the daily timeframe as well we also find congruence on the weekly time frame with that ascending 200 period simple moving average so very powerful level that price tends to respect so again if I was looking to the downside again guys range-bound do you buy low you sell high you short resistance you long support so I'll be looking to put on Long's as price moves down Andre mishio thanks so much for the sub on YouTube man thank you so much and as you can see thank you so much my daughter Delilah thank you so much for understanding very clearly what's going on here and as we could see up here we do have that Weekly resistance coming in here now as I had pointed out earlier as well if we go ahead and take this level right here if we actually take the true candle body of our weekly equilibrium candle right here so what do I mean by weekly equilibrium equilibrium candle I get asked this a lot we have a dominant trend we have a very powerful trend and then we put in one week of resistance to the dominant trend we do put in a bullish week all right a nice Darth Maul candle stopping really just about everybody was speculating during this week just a bad time just a bad time to be taking on positions inside then we continue going JC thanks so much for the sub on YouTube then and then we continue the underlying trend until we find support on our 200 period simple moving average and then reverse now let's get rid of that so this level right here is going to denote true resistance so this is going to be your horizontal resistance level where you would be comfortable putting on shorts now a weekly open or really a weekly close above this level would be your first significant bullish sign as you can see when we move down into the weekly time excuse me the daily timeframe as well you do have that descending trendline coming it quite nicely which has also been respected as a resistance exam you have confluence here with your 200 period exponential moving average right here respecting this range right here and then you also have this high volume node and one thing that I want to talk about hbm's because we talk about volume profiles a lot and why our volume profile why do I like volume profile so much well because they clearly tell me very simply what areas of the market are being respected as well as what is the most significant area of support and resistance so as we can see right here we do have this golden line on my chart now that's going to correspond to the point of control and the point of control is going to represent the area of price that is most heavily traded at now we do have to take a few things into account when we're talking about points of control points of control or excuse me let's sorry we do have to take a few things into account when we talk about high volume notes now high volume nodes are created by lots of trading activity occurring through a certain price level so as opposed to the traditional volume indicator on the bottom of the chart which is volume by time the volume profile on the right-hand side of the screen is going to represent volume by price so this is more clearly indicating to us what are more significant levels of price the point of control being the most important ones one of those because it is the high volume note with the most volume at that price level so it acts as support and resistance we currently see right now that the weekly point of control is 3621 again we are looking at the bitstamp chart so this means that if if price is able to get about 3621 then at that point I would also expect a retest of our resistance level right here very simple might take a while to get there but if the weekly closes above 3621 I would expect us to move back up to test our resistance zone at 4000 now until we're able to get above that until we're closing until we're just wicking above there very hard to put on a trade very hard to put our nut trade you can see how well that's worked out for everybody that wanted to buy into a breakout everybody that sought as soon as we went above the point of control that that was the time to go no I'll tell you what one of the hardest things to do as a trader is wait for candles to close is to wait for confirmation depending on whatever time frame that you're trading you do need to wait for confirmation unless you just want to gamble and it's one of the most difficult things to do and I know this guys and I know this alright so let's go down to the daily timeframe just to see a little bit more clearly yes and as we can see we do have that equilibrium that resistance block coming in right there so this is denoted by our weekly if we move back remember so we have that weekly candle body forming our resistance zone right here and why is that resistance well why are bulls interested in coming back up to test this price because remember as I said this equilibrium block means that we have a dominant trend and then we have a momentary pause in that trend so a even though price moved down when we bottomed this is an area where the Bulls sensed weakness in the Bears this is where the buyers represented a weakness and sellers or where demand sensed a weakness and supply now the more times that you touch resistance the more times that you touch support the weaker it will get we need no clear indication of this then the entire market cycle of 2018 where you are putting in significant support at a previous point of control here at 6380 price comes down tests it bounces off again again again again again the more times that you test support the weaker it becomes however conversely the more times that you touch resistance the weaker it becomes so we've had only we've really only had one significant test of this resistance level right here here we have resistance established here we have a bottom here we have resistance tested for the first time and I would expect it to hold for the second time through guys unfortunately I just would not expect us to break through on the second pass there now can it happen it's absolutely possible and you do want to have a plan for that but generally I find that the most powerful trades are to be taken on the third and fourth touches of a trendline as opposed to the the excuse me the fourth because traditionally you are taught that you need three touches on a trendline to establish its validity now while that is classically true I will I often find that it is better to front run it's better to take that acceptable risk and assume that a trendline will hold on the third pass through instead of waiting for the third pass through which is often again your fourth touch of resistance meaning it's getting weaker and weaker and weaker and you can expect a little bit of a breakthrough now some interesting things to point out on the daily timeframe now we've got some we got some interesting things here we have the same resistance order block we have the same descending trendline we have the same support areas right here denoted by our high volume nodes obviously I am front-running this high volume node if I wanted to be more accurate as to where the actual high volume note is instead of coming in as I am trying to do a front running the high volume note of 3270 it would more accurately be around 3,240 all right one average true range below price at current average to range levels two thousand nine hundred and sixty now wicks down to this level are completely acceptable in fact that's what I would expect it is it is a likely scenario and you do want to be reactionary you don't want to be predictive so setting setting setting by orders down here can be an effective strategy and it's gonna happen very quickly when price moves down to these levels if we do see a stop hunt where are a lot of traders gonna be placing their stop losses well traditionally traders are going to be placing their stop losses right here below support so to capture liquidity a lot of individuals are going to be a lot of individual is going to be Sussex queues me have their stop losses here which means that if they're long or if their buyers they're gonna have they're gonna be selling at this level and you're also gonna be have you're also gonna be having on your leverage platforms where you can shorts up you're gonna have a lot of buy cells here or stop cells excuse me because individuals are gonna say oh my god it's going below support that means we're going to 2700 right away I want to sell into this breakdown and really well all they'll be most likely doing is providing liquidity to buyers in this area so now if you are a market mover that's your strategy however if you're not a market mover I would recommend caution with this strategy again it can be an attractive strategy to just say I'm gonna place buyers right below your the swing low but it makes it difficult to manage your risk it makes it difficult to ascertain an area where to place your stop loss and this is why psychologically so many people use the lows the swing low directly below the swing low as their stop-loss because they don't really have any other metric to measure their stop-loss and this is why I really like the use of Average True Range so average True Range will describe for you average volatility and there are lots of ways that you can use Average True Range there's lots of ways that you can use Average True Range you can use it as an average measure of volatility again when volatility is quite high there's going to be lots of movement in the markets very exciting time to trade if there's low volatility there's going to be not a lot of excitement going on in the markets very difficult to day trade not profitable today trade honestly and again the one thing though about volatility is that low volatility does precede high volatility so when you have an extended period of low volatility you are expecting to see a quite a violent reaction because again as price contracts it will expand quite violently alright so let's go over here and look at a few more things on the daily timeframe before we zoom down and then get into our other charts if we take sorry so weekly time for him remember where that point of control was coming in at 3000 excuse me so let's go down here three thousand six hundred and nineteen sorry 3621 3219 depending on how much data you take in it will shift around but just understanding the range which is where the weekly is unable to close a bus so we want to keep that level we want to keep that level in mind so we're going to go ahead and put a line right there sorry red for resistance all right so I need to see a few things before I'm willing to take a trade of Bitcoin going back up here we need to see a daily close above this resistance level right here or we need to tap into these areas where it would be an attractive place to be putting on bias three thousand three hundred ninety three thousand two hundred and ninety three all right so unfortunately that's the strategy most people are most people play this absolutely wrong they assume that if price goes down here bitcoin is going to make new lows the way that I look at this is a range bound markets so I will be buying the lows and shorting the highest until we get a break of the range very simple to understand when you look at the market in that way now if we close a daily above this descending trendline again I'll be looking to put on a short right around this level now if the if we have if we have a daily close above the descending trendline then we kind of come into my warning area right here where we have this kind of reverse fulcrum area right here so that is the difference between the descending trendline and the regular resistance zone right here now I won't be irrational exuberance I'll be tentatively cautious if we if we step into this area on my short potentially looking to manage my risk with the tighter stop but I won't be overly irrationally exuberant for a long position until we're actually able to close a daily and form a new daily high so as you can see we've been unable to do that yet we've been unable to form new daily highs on our rallies so if we are actually able to put any close above this resistance level that would be the first time in a very long time that we've been able to form a new daily high and I can see right as you can see right here I've kind of got my go-go-go symbol and I'll be put on Long's if that happens targeting our next area of resistance which is going to be coming it around right here around 5500 there's just nothing in between er there's nothing but an LVN and as we've talked about many times high-volume nodes are train stations price likes to hang out at train stations for quite a while but when we get to the train tracks which are lVN's price likes to zoom right through now that right there is a no-brainer trade to me that right there is a no-brainer trade that's also a very nice life-changing trade thirty-four percent all of this stuff none of this is life-changing a lot of this is very short sided scalping a lot of this is very much going to get you in trouble if you're trying to trade these extremely tight ranges especially just looking at ATR just looking at this low volatility I mean there's just absolutely no reason to do this thank you so much thank you so much Delilah you have a good night hunt you're gonna ins Antonis thank you so much for joining me this evening all right yes yes I am drinking a Pepsi brief break from the ketogenic diet guys it's been nice day to day two of a couple carbs after many months of none of them all right so let's see here we'll go down to the four hour time frame just for kicks yeah kinda the same thing so this excited a lot of people last night we have this nice 2% movements in Bitcoin right here absolutely rejected from as you can see you're unable to close a four-hour candle above that weekly resistance level remember that thirty six twenty thirty six nineteen thirty six twenty one there we have it right there on the chart completely unable to close above that excellent place to be putting on a short and really what we saw here was just everybody at 50 at 100x excuse me well at 100x who bought in here just completely getrekt everybody who tried to everybody tried to short this movement right here or short right here at this range yes so they all got absolutely taken out of the market just as we saw Long's get taken out on all these wicks right here now what's interesting is that we're seeing a lot of wicks to the downside which generally means that we're going to move up and we did slightly but just no follow-through absolutely no follow-through and then right back down to the for our point of on the local area right here so not nothing nothing doing guys nothing doing not an area that I want to be trading again the 4-hour chart you can make potentially some trades off of this for example like for example you can see that we're range bound on the 4-hour chart again you want to buy support sell resistance so this looks like a potential scalp trade back up here to the to the point of control or resistance level right here however you do have to be basing your trades on the higher time frames so just looking at the higher time frames it's just nothing that I want to just nothing that I want to be involved in guys just nothing that I want to be involved in yeah it's to die soon man I just plenty there's gonna be plenty of opportunity there's gonna be plenty of opportunity for a really good trade above this level right here it's gonna be a really good opportunity when we reach these levels right here so till that happens I'll look for something with a little bit more volatility don't need to be in a position on Bitcoin at all times looking at aetherium looking at aetherium let's start with the weekly alright so one thing I want to do here okay so let's pull out in the EVP VR and we'll also pull out now I do like to chart a theory I'm on to the tether on Finance because of the volume and because in my experience charting aetherium USD to the tether on Finance is actually going to be more significant for moving the market so I find that the market moves moves first on Finance and not the other exchanges let's see here I love you too Delilah are we talking scalps are a longer term time trades now I'm talking I'm talking longer term time trades it would be very difficult for me to I think I think it would be very difficult for me to show scalps and really the type of scalps that I'm looking to put on I don't traditionally take scalps the way that most people to most people scalp with a momentum oscillator most people scalp on the five-minute of the 15-minute chart I don't do that I use VPS beyond the 30 minute chart so it's a fairly unique scalping strategy but again I'm looking for volatility I'm looking for volatility when I want to be scalping something and there's just I don't see the point of I mean what's the daily range today let's see here so on on aetherium 2% so an opportunity for scalping right there yesterday 2.9 percent you know compared to these opportunities right here compared to you know 20 percent movements and 10 percent movements and you know that is this excuse me I'm looking at other those are those are dollars yeah so you know all these 52 percent movements when we have a 2% week and we have a you know a 0.2% day a 1.1% day a not percent day I mean this is not this is not a good scalping territory man this is not good scalping turn there's better opportunities there's bet like like candles like this daily candles like this those are good scalping opportunities very good scalping opportunities so a weekly timeframe on aetherium we are resting on the point of control so this is a fairly interesting key support level right here we also have this level as resistance you can see we almost have an equilibrium block right here so if we would have just been able to rally a little bit more on this candle this would be denoting an equilibrium block right here why because we have a dominant downtrend we have a break-in market structure right here and then we continue the downtrend this is almost identical to Bitcoin although Bitcoin was more bullish at that point in time on the same week on the same weekly actually and then we put in a bottom o we come back up and rally above that level right here and then also pull back down on this week to test it as support and then we've dropped down right back to the support level right here on this week up in very very weak very putting in very very low volatility very very low very very excuse me so very little movements in this period of contraction over the last two weeks being governed right now by your eighth period exponential moving average as well on the point of control so what am I looking for to take a trade off of this well there's a few things that I need to take so what am I looking for well a few things I do need to see I need to see this level hold right now because right now I do have it in my chart as support so let's actually change that color to green but we're all we're doing is just stutter stepping right around this weekly support right here and we're being completely governed by our a period exponential moving average and as you can see here previous weekly resistance current our previous weekly support as well denoting this as an important area here's test one here's test – here's test three holding right now but really looking like it doesn't you know the markets unsure whether it wants to move up or wants to move down if I had to place my bets on this I would say that until we can actually get above our eight period exponential moving average right here or until we can fairly very strongly close above this level acting a support we do at we would then at that point I have confirmation of support and then I'd be looking to put on the long because honestly if we go down to the daily chart price does look attractive there's a couple there's a couple important things here so we do have so yes we'd also have again we talked about being at the point of control we're also at the 0.618 Fibonacci retracement of this recent rally so obviously as most of you are probably aware very key area to be looking at for the Fibonacci retracement for the Fibonacci strategy and again just using a very simple Fibonacci strategy is generally to buy at the six one eight and target the two three six this is a very common bot strategy this is a very common manual trading strategy so and you do have a nice attractive trait putting that on you have a nice attractive 25 percent trade going down to the daily timeframe to manage your risk with that going down to the daily on aetherium we do see very similarly the very low liquidity let's get rid of that let's go ahead and get rid of the Fibonacci let's just get rid of that getting down below that we do see some interesting levels on the daily timeframe so I've got all supports laid out right here so if we do end up rejecting from this area which on the daily timeframe it does seem like we are doing so what I'd be looking for here now looking at this candle right here we are putting a little bit of buy pressure right here a little bit of resistance to this breakdown of support however if we look at the previous daily candle we do have that evening star reversal doji pattern right there and we also have the excuse me the evening star and then we have the morning star right here so what's interesting is this this candle right here this type of doji that we can see right here is typically a reversal candle did you see at the bottom of a downtrend because it indicates an amass a larger amount of buying pressure so the the sellers or supply attempts it's a suppressed price all the way down but buyers bought it right back up this is often a sign of a reversal this is a very powerful candle but absolutely no follow-through and then we put in another counter reversals candlestick right here this evening star pattern which again is the same thing over here just absolutely in Reverse where a buyers attempt to push price up and they're absolutely pushed down so really what we're just seeing here is just insane wicking to the upside into the downside man and it's even worse on demux where you where you're seeing just just lots of liquidations honestly it just blows my mind it really blows my mind that I mean just looking at ATR for example looking at how low ATR is that people are getting liquidated and it's just because when you see something like this I don't want to trade this I don't want to trade this you know I'd like to trade this if I saw something like this I'm gonna go down to the lower timeframes and scalp this is look at this look at this 11% in a day there's like at least 10 15 20 trades there to be taken in a day I mean you got to be kidding me guys you guys just have to be a little bit more discerning it might be your favorite asset to trade it might be your favorite cryptocurrency to trade but if nothing's doing man I mean you just got to switch over to something that's gonna make you money because just sitting you're staring at the chart so they will literally make you go and say was there more bad news for aetherium other than Bitcoin drop into a Caribbean crypto show what's up all hey thanks Kara being good to see you man so here's the thing aetherium dropping heart it's it's it's not really yet again none of this looks exactly positive and we are rejecting from the neutral zone right here so if I had to place my money this would definitely be on if I had to if I had to take a position just based on the fact that we are at the six one eight Fibonacci basement and that we have not respected that area my bias would be leaning toward the short side here however I don't want to take a trade in this low period of volatility again if you if you just zoom out and look at the daily candle you can actually see what's going on now for people who's saying oh cerium is dropping down hard right now so yeah if you look down at the 30-minute chart yes it's taken a nice spike popped right back up but I take trades I take trades on higher timeframes guys I take higher time frame setups so again six one eight Fibonacci retracement a point of control significant support right here not saying that it's gonna hold in fact I just pointed out the fact that on the daily timeframe it doesn't look like it's going to hold but I'm not going to enter into a short on a candle that looks like this again this candle just opened up we'll see how this plays out got plenty of time to be putting in shorts what is our next area of support dropping down below this or what are our targets for short positions right here on aetherium USD T you're gonna have that one hundred and eight dollars and seventy nine cents and one hundred three dollars and twelve cents so you do have this zone right here so does that mean that you just go ahead and latter limit orders there no no not necessarily it doesn't it means you wait for price to come down to this area and then you wait and then you wait to see if you do get a bullish reaction so let's actually adjust I'm sorry let's actually adjust these a little bit so that they line up more properly excuse me with the HV ends not trying to front run them trying to act really display what the what the actual hvn is so that is now a hundred and eight dollars and four cents one hundred and three dollars and sixty eight cents so support zone right here secondary support zone right here alright so very similar to Bitcoin guys very similar to Bitcoin we're really in no-man's land right here if you know the the littlest movement that we're gonna get and though although yes yes that does look pretty volatile on the 30-minute chart but all we have to do is just go back in time so did this so did this and everybody was screaming for the moon started this everybody screams for the moon we get a big violent stab down like this I mean we can just point them out here here's the exact same type of candle right here guys that you're talking about here's the exact same type of candle all right look at this okay look at this one look at that what's that that's one point zero six percent what do we got on this candle right here one point zero four percent so just got to be patient you know if I was a gambling man I'd actually probably along this right now yeah yeah I probably definitely would tap into liquidity big volume downtrend right here no higher time frame consistency yeah no follow-through on the higher time frames yeah looks like a tap into liquidity and a nice short scalp back up here to the media because why did price go here well where did traders have their stop losses placed if they were buying at that support level that we talked about on the higher time frames again that 116 31 that point of control anybody going long on dips right here anybody that went long in this area right here would have had their stop-loss place to right here down in this area below this low or below this low even maybe below this low and so what does price what does price go to that's their stops once their stops it doesn't mean the price is gonna go back up just saying that if I had to put on a scalp trade right here I would have definitely longed off the candle to look like that buy low sell high guys it takes balls to buy on it takes balls to to make bias on big candles like this but that's what you need to do and you want to be selling on big green candles like this it's that simple man hey Wally thanks so much for the $9.99 man highly appreciated man he says smash that like button and help a brother out learn earn and don't get burned you goddamn know that's right man if I haven't done Khyber Network yet would love an analysis yeah no problem in I'd love to do Khyber Network Thelonius that's what could thanks man beware of to CMC T on coin market cap and don't get next up they shouldn't have more than one of the same ultimate Orvis um yeah hey thanks man good looking out so alright so there's a theorem will do ripple and then we'll do K and C for for Wally and then we're also going to do we'll check back in on mr. aetherium here for a little bit again if I had to be a ramblin gamblin man I would go ahead and say that this most likely will it's what's our resistance so this is at least this would have been at least along on the close of this candle at least along here it's in 115 11 but I'd be well into place a little bit more money that this even has the potential to go up here now keep my eyes on this depending on how these next few candles play out this could be a break down short but I'm going to need a little bit of confirmation on a higher time frame besides the 4-hour chart as you can see it's now turning into quite a nice reversal candle so you just gotta wait until it closes guys and you kind of trade like this I definitely want to be looking at at least the four-hour candle and waiting for that to close to get confirmation in any kind of trade so and again I'm not here to make you guys feel bad man I'm just saying that you know and I'll just read them back to you you know JC says it's going down hard right now I thought there was another comment right here ah webdev newbie well you didn't really say it was going down so JC I'm not trying to single you out I'm just saying that that that that is that is the typical way that somebody would look at this they'd see a big volatile movement down and they would rush to enter into shorts and so what happened I mean see this price level right here somebody sold at that level somebody sold at the very bottom of the wick because remember every price point every part of the candlestick represents an area where somebody bought and somebody sold has to be a buyer and a seller for a trade to commence so it's not working out so well for them now they could be right but you just have to wait man you have to wait you don't know and again I would actually break money I would actually put money on the fact that we AG least revert to the mean all right so let's go to let's go check out SERP a few things about dirt ma'am so here we got here we got syrup on the daily timeframe and let's get rid of let's get rid of some stuff let's go ahead and hide our lines and let's just look at price action guys so let's look at syrup on the daily timeframe so here what do we got here we got some interesting stuff we've got a very nice parabolic rally we've got a full a very nice healthy retrace of that movement again I believe that's the 3/8 – yeah that's the 3/8 – so quite a bullish quite a bullish pullback right there between the 3a – and the 50% is your bull measured your your kind of bull zone right there and we also see other areas of significant support we do see resistance on the parabolic movement right here where we like to find support right at previous resistance all right it makes sense also we have resistance over here which actually helped form the beginning of our downtrend right here for zerp in in October 2018 because remember this is this is now let's actually zoom back a little bit so yeah actually if we go way way back in the wayback machine way up resistance here we have resistance here we've got support here so this is a high volume node and actually if we look at the V PVR we're gonna be able to see that quite well yes very high volume node right here in this area very an area where a lot of activity has been traded a lot of an area I mean it's an it's important area – it's kind of like the 50% mark in the market you know if you can look you've got your bottom here you've got your top here and we're right in the middle you know when price goes below people get overly bearish and start selling when price gets above people get overly exuberant and start buying price goes below rejects from resistance excuse me rejects from resistance right here and then we have this big nice crash down from a all the way – so I'm ed Murray thank you so much for these sub on YouTube and highly appreciate it and then what do we have here we have the exact same oh sorry not the exact same level right here we have support right here we have a double test of that support and this is where price rallies and now we are finding support on that same level again now quite similar to Bitcoin and aetherium until I actually see confirmation of a breakdown until I actually see confirmation of a breakdown I won't be I feel so good to drink pop man it's so bad for you but tastes so good all right um so here's the dealio let's talk a little bit more clearly so we were short zerp we've been short desert for a little bit and we pulled off the trade and why did I pull off the trade why because we're coming to support we're coming to support so I do like to like – I don't really like to I'm not really much of a breakout trader because most breakouts get get wiped out the same for break downs breakdown trades usually get bought in – so we've got this wick city down here right so this is exactly what I'm expecting to see for for xrp right here now we do have we do have a shallow area of the volume profile right pretty much right below where we're going right and that's absolutely where we got stop-loss on sin 2 before we had a nice bullish movement back up overall well above the entire market cycle point of control coming in at 71 79 Satoshi's currently trading at 87 71 Satoshi's we have this level for support right here we also have this level for support coming here so let's actually show the aligns and now we'll zoom in a little bit all right so so here's the thing as well very you know again just looking at horizontal support and resistance a good area to consider people are basically Ascari's desert because it's not Ripple I'm still trying to correct my speech guys it's I'm making a statement okay making a statement but overall you do have to respect the fact that sorry let me clear this up a little bit overall you do have to respect the fact that we are in a downtrend if we look at our moving averages we can see that everything's curling up we are coming up not only on that same horizontal support level that I talked about but also we have our 100 simple and our 100 exponential coming in right here these are powerful support levels in the mark and I would expect price to respect them but that doesn't necessarily mean that it's a good place to go long because we could just go sideways here for a little and I do want to see either that or I want to see some nice significant rally off the bottom I want to see a nice volume spike I want to see some movements cuz we've got falling volume and falling volatility not really any areas that I want to be entering but if I had to place a bet on it I'd be taking along on surp around this point in time but me personally I'm gonna wait for confirmation just with how I mean really choppy the waters are guys again most traders out there are losing money hand over fist right I'm serious I mean I'm not just over all right because overall most traders lose money but recently right because recently because of low volatility low volatility when low vol when there's low volatility people's positions don't move very quickly they're really sweating for profits and they want to and and so to counter that what do they generally do they generally put on more risk they generally take on more leverage more position sizes than they can really manage they usually stop on it out because when when there's very low volatility you've got the bots going wild the bots are efficiently able to take advantage of you know big wicks you're often not able to especially if you're not sitting at your computer staring at the 10-second chart every day and even if you are staring at the tech and ten-second chart what are the opéra – what's the chances that you are gonna be able to discern that information faster than a program or faster than an individual that already had a limit order in that area you're not going to be able to it really is a game for suckers man again I mean the profitable trade is just to catch a nice trend to catch key levels of support and resistance and enter positions from those areas guys look look at this area right here we had key resistance in this area these are areas where you want to be putting on shorts I mean there's it's there there's just no brainers man now if price and again we're on the daily timeframe look how powerful the daily time for him actually is you need to get off the 30-minute in the 15-minute chart and look at your daily or weekly in your 4-hour because as you can see we have resistance here on the daily clothes right here so basically this is gonna be denoting an area hey so it seems like a daily hasn't been able to close above this level seems like a good area to be putting on a short from what do we see oh my god it's like the perfect area to be putting on a short from obvious it's like magic it's not magic guys it's just patient patient patient easy trading I actually do need to leave these lines because those were take profit levels on the shorts or or those will become a potential take profit levels on the long but I'm going to reevaluate because as the market changes I do reevaluate my position sizes so overall analysis on ZIRP right now no trade no action being taken right now at this point in time keeping my eye out for a reaction from these 100 simple and exponential moving averages as well as this horizontal level of support and support right here and also the correspondence with the high volume node on the on the larger timeframe as you can see here zoomed out as you can see we're still and that hvn still right at the bottom of it if we open and close a daily candle below this level then more than likely I'm probably going to discard these are just three areas so this is a zone that I'm looking for and that doesn't mean that I'm just gonna slap limit orders in here Willie linen willy-nilly but this is the support zone that I'm keeping my own right here as you can see it's the high volume note and I've just trisected it falling down below that we do have our last support excuse me our next support that's 7155 if the area between 79 and 84 doesn't hold so price drops below this level I'll be looking at this area to see if we get a nice bullish me out reaction or a bottom but again I'm going to wait for confirmation on at least the daily timeframe before taking a position and what is that confirmation gonna be well I'm going to need us see I'm going to need to see probably a daily close above 9,000 at least 9,000 that's our currents that's our current local top so if we can close a daily candle above that then I'll be looking to put on a long that's also breaking up into this hvn this level of consolidations that will also be a break of horizontal resistance or if I just see a really night if I see a really big nice green candle then I'll expect to see some follow-through for that and I will just simply be targeting no no no no ten thousand four hundred sixty-five seems like it's been the best target for a long and the best entry for a short guys so I'm not gonna reinvent the wheel here just gonna continue to take those no brainer trades so Khyber network let's check out can see hey thanks aspartame bro big no I know man oh this ain't aspartame I think this is uh this is real sugar uh let's see her Bitcoin looks dead on a surface level yeah it does man um Edward Park thank you so much man Jayden Rocco says I'm lost eh asked your questions man I'll be happy to clarify for you a little bit hopefully I try to make I try to make things as simple as possible man horizontal support and resistance you know significant moving averages volume profile all right we got going on with mr. Khyber network right here so first off we the first thing that we always do when analyzing a new chart is we take everything off take everything off and we take a nice look here ok so that basic thing complete bottom at all-time lows and just doing that sneaky sneaky sneaky right here just doing that real slinky snaky alright so now we know what we're dealing with we are dealing with a coin at an all-time low and slinky slinky so my my initial bias is to assume that when a coin is at an all-time low it will continue to make new all-time lows just as my bias is that when a when a project is making new all-time highs that will continue to make new all-time highs so it just at a surface glance nothing super I mean it doesn't take a genius I'm not saying that we'll get into this one maybe you can find a trade or not but just on the surface network I don't necessarily see anything hey Jamie thanks so much men I don't really see anything that would overly excite me about this again I'm not obsessed with buying the bottom thanks so much for the sub on YouTube I know a lot of people are really you know just think that the absolute bottom is the best place to buy unfortunately guys the absolute bottom is generally not the best place to buy for several reasons one because it's very hard to buy the bottom you generally will not be able to buy the bottom because the actual bottom of capitulation happens very fast very often over the course of a couple hours if not even even less and then moves volatile a off the bottom because what you've had is you've had somebody with a lot of money step in and say alright now is a good time to buy and they're gonna strategically place their buy orders and at some point the big ones are gonna start getting getting hit price will start slowly moving up and it would create a funneling effect where everybody will start filming and and that pushes the price up unfortunately and and this is a good time for a FOMO to be pushing the price up because normally FOMO kicks in at the top at the very top so here's the thing though you want to catch that fine line I'm sure you've all seen the the wall to wall street psychological cheat sheet see the trick is to recognize a bullish movement for what it is in the early stages right here and not in the latter stages and just unfortunately this is where you often see I mean all we have to do is look at volume and you can look at any chart any timeframe cryptocurrency stocks Forex its Let Me badd you don't care at all it's all the same jinx leaked hey thanks so much for the follow on twitch minute um it's all the same when you see a massive spike in buying volume at the top of an uptrend you got a sell I mean you just you just gotta sell man because that is dumb money buying into the market that is retail buying in at the absolute worst time and all they're doing is providing liquidity to smart money that was smart enough to buy here or individuals like me who are smart enough here to recognize a rally for what it really was and again to be more honest you know that's been that's given myself a little bit too much credit more than likely I would have seen daily resistance broken right here and then the pullback to test and hold so anywhere anywhere right around here is where I would have been buying and then I would have seen this a couple days later and how would a pin out man I would've been out I would've been very happy to be out at 50% profit very happy to be out that's a life-changing trade man big life-changing trip ok so after a brief segue into the cycle psychology of retail traders let's go down to knee daily timeframe excuse me let's go down to what's going on with Khyber network right now and see what's going on so key rule without a significant change in volume or sentiment do not expect the dominant trend to change so do we see so what do we see here we see a very strong very dominant downtrend right here with brief rallies all rallies are to be shorted in a downtrend brief rally is that just liquidity to sellers I mean honestly these are these are mini market cycles inside of market cycle we have 80 percent move scriber network is a very volatile asset man so very very good opportunities that K&C has been able to trade so what we're positing here is basically for the same thing this is what we're looking for we're looking for another volatile move like that because when this coin moves it moves khyber Network moves so what do we see here we got a double test of support we've got to curl up and we do have some increasing bullish volume right here let's go take a look at a few what we'll actually do that afterwards we'll do are we'll do our technical analysis first and then we'll go look at some data metrics all right so let's look at volume profile and our moving averages yeah interesting so compared to really compared to everything else look at the you've put in a lot of volume and a lot of accumulation going on right here with Khyber network at this price level right here I mean just compare the volume by price or excuse me compare the volume by time here at the bottom and also compare the volume profile I mean just an absolute monster spike in volume at this level right here man very interesting very interesting and right here actually right at this price level all right so what levels are we going to target well we've got resistance here we've got our daily that hasn't been able to close above that seems like a good place and we also have this level right here we've got some pretty good confluence there now you can feel free to front run this area if you want you can also see right here that we do have a bump in the LVN or excuse me in the volume profile because there was some consolidation at this area not so much of the consolidation right here although we do have a little bit of trading from it we have resistance right here we have tentative support right here on an attempted break out of this range although that was just one day of a pump we have resistance again resistance again so this is the area that I'd be targeting because this is obviously our local resistance area right here for your short-term scalp you are going to be targeting basically here 3972 as well as your hundred this is actually gonna be yeah this is gonna be your hundred again no fifty five my bad okay so all right so 192 you all right so I'd be actually looking at this in kind of a different way there's two ways I would approach this the first way I would approach this the first way that I would approach this is looking for another pump opportunity and if you're looking for another pump opportunity I mean it does seem like an obvious place to be looking for an entry now you have not been given you haven't really been given you've only been given one maybe two honestly one bullish indication to be accumulating at these levels so you and that's volume you have an increase in volume right here remember we said without a significant change in volume or sentiments then price is unlikely to or excuse me the dominant trend is unlikely to change and we do see a fairly significant change in volume right around here if we just take aggregate volume we can see that it's pretty nil all throughout this level right here so significantly higher significantly higher here then the volume moving average and we can just see the moving average on volume right here steadily rising now price has sunk tighter and has been unable to get above the local resistance right here which is also corresponding with our 55 daily exponential moving average so for a long-term trade I would need to see a daily I would need to see a daily close above our 55 period exponential moving average and that's not actually going to show up in my chart but that's gonna be coming in around 4143 Satoshi's right here right around this level that's also going to be congruent with as you can see here the largest area on the volume profile as well that's going to be getting us back up into that resistance zone which would also make it a good target for a short scalp right here secondary targets so secondary and tertiary actually targets for those scalps are also going to be your local daily resistances right here where price is unable to close above generally the good generally a good place to be putting on shorts and honestly honestly still the same way that I would be playing this because there's no there's no confirmation there's no confirmation of a bullish uptrend remember that when cryptocurrency moves it moves and as you can see here what we're really looking for is we're looking for we're looking for this if you feel that this is the bottom then naturally what would come what would commence afterwards would be a similar movement to this now I'm not saying the extent of this movement I mean you know this is a monster this is a 600% valuation now I do think I am very bullish on Bitcoin in the long term I do think that we end up I do think that we have the strong potential actually see some of those crazier numbers that you're gonna see on you know John McAfee speed for example or you know Tim Draper or you know all these things I don't come out here and say numbers like that myself because I don't have a crystal ball you know I don't get paid to be an Oracle I make a living as a trader so and the reason I've been able to be a trader for so long is because I'm pretty conservative and cautious so does it look like an attractive opportunity for a does it look like an attractive opportunity to catch a pump yes however there are a lot of risks the risk here is again at an all-time low in the market and when you're at something like an all-time low my general bias is to assume the price will continue to make new all-time lows now looking at what volume profile is telling me and looking at volume by time I am kind of interested in looking at this so I'm gonna add this actually to my watchlist and keep my keep this on my radar what am I going to be looking at for a long term position I'm gonna be looking for a daily close about the 55 exponential moving average because we really have not seen that until right here so the last time we saw that was back in October of 2018 and we had the opportunity for a 40% trade we had the opportunity for 40% trade what were some other metrics that we could have seen – maybe capture some of these movements right here we have extremely oversold conditions right here we do have the Fisher Cross up right here on this candle right here telling you to buy that would have allowed you to capture this movement we have the Fisher Cross up right here on this candle telling you to buy that would have allowed you to capture that movement she would have been selling here so although you would not have been able to capture the top using the Fisher again the Fisher is just to let you know for me anyway is to confirm entries and exits you do want to be using whores support and resistance as take profit targets you'll be able to actually have limit orders in more likely areas that you won't be able to catch as quickly and of course unless you move down to a lower timeframe I'm sure a for our Fisher Cross under would have captured somewhere around here Fisher transform right here doing some interesting stuff bottoming below zero and bottoming below zero for me is not something that I'd like to see on the Fisher transform again the Fisher is measuring the wave cycle of the market structure right here so you can see that when we do bottom above zero it's quite a bullish sign let me see if I can see an example of that's not a lot of good examples with it on K and C here's an example where we do right here bottom below zero meaning that the downtrend is not over here is an example so here's a decent top yeah there's it there's a decent example right here so right here we have a little bit of a dip and we're topping above the zero line right here at this point in time kind of kind of piercing down a little bit faking us out but overall I'd say topping below the zero line right here letting us know that the downtrend is not completed although we have a nice little dip in that area price does continue to rally back up and make another stab so I don't really like to see rejection from the neutral zone or topping below zero I don't like to see that daily candlestick looks like it could turn into a reversal candlestick right here and we are right on that support level so overall again and especially because this this coin moves is so volatile II I definitely want to wait now if I look at Average True Range what would I want to see to be out of this so Average True Range is 192 Satoshi is on the daily timeframe so I am going to take the swing low and measure down 192 193 but we'll take it okay so be looking for opportunities to accumulate in this LVN right below price with a stop-loss set here managing my risk at that level again that's why I wouldn't be putting on a position right here if I were to be putting on a position right here I would have to be setting my stop-loss tighter and honestly waiting for a little bit of a bullish reaction let's go down into the lower timeframes and see if we do see anything interesting let's start off with the 4-hour chart yeah for our chart rejecting from the 55 exponential moving average which we were holding as a little bit of supports also from our 100 simple moving average there as well after finding rejection from our 200 exponential moving average here on the 4-hour chart so we do have this nice ascending pattern right here nice little trendline right here doesn't seem too bad might not be too bad now again we talked about being on the support level I might be okay with a speculative bounce up here to AG least previous resistance right here but overall on the daily time frame what do I want to see for a big trade which I think I Burnett work has the potential to put in here just based on how volatile a it's moved before in the past I do definitely want to see at least a daily close above resistance so if we can get up here if we can get a daily close above local resistance at 39-51 I'll be okay with that then I can I can almost definitely expect to be going at least to the 55 on a daily timeframe if not to the hundred because we haven't been able to we haven't been able to do that for a while so I'd be excited to see that that would get it that was put us in for an okay trade right there again you can go ahead and take the third touch off the trendline if you want just keep in mind that I don't trade chart patterns it's fairly risky and I do want to see a little bit of bullish reaction off this level before I go stacking it along so hopefully that was helpful man I do like to do you know especially when somebody requests it I like to give the full depth analysis but again the important thing is to start off on the daily timeframe and then continue to zoom down and yeah let's do B and B hey Luka Lucas what do you all think of WL oh I don't really have an opinion on it I'm not exactly sure what you're talking about my friend mcmoney asks what other indicators do I use so again you kind of saw how I approach a chart I approach a chart by taking everything off and looking at price action the next thing that I'll start doing is looking for confluence after I've mapped out horizontal support and resistance I'll be looking for confluence with my volume profile I'll be looking for confluence with significant moving averages I'll be looking for confluence with actually that's about it for four areas on the chart moving averages and the volume profile putting more weight on the volume profile and the most weight on price action horizontal support and resistance following that the only momentum oscillator that I use as the Fisher transform and then I use Average True Range just to tell me basically should I should I be day trading this this asset today and also it helps me it also helps me set my stop-loss so but for day to day trading my chart just pretty much looks like this let's see here hey Jeff handsome good to see you man thanks for joining the stream can I look back at BTC yeah sure give me a second Captain Canuck hey I love that name man says thanks bro loving your TA and teachings I just subscribed also nailed at one point six five percent aetherium short during that last drop while watching you cheers hey happy you got that man good looking out is the EMA indicator showing on the chart on trading view I'm I'm unable to find it no this is uh this is my custom indicator again it's nothing super special man I just wrote it myself it just allows me to have all the EMA is that I want and one nice bundle depending on what time frame that I'm looking at I'll be looking at the eight the 21 to 55 and then I'll be looking at my hundreds and to hundreds I like to find confluence you know I I don't have them generally all in the chart at the same time otherwise it just gets absolutely crazy I generally more use them on the higher time frames when I'm looking to establish and find confluence from a horizontal support resistance so if I have a level of horizontal support resistance and I find that there is a significant moving average there as well hey I've got confluence if there's a high volume node there as well you can better be sure that I'm putting on a short that resistance level just long support short resistance guys most people don't do that all right so we will do B and B and if I have time J 10 hopefully I pronounced that right I apologize if I didn't I'll try to take a look at Tron it's it's about one hour in guys so I'm gonna go ahead and take a two minute break two minutes two minutes two minutes I'm gonna go grab some water two minute break I'm gonna come back we're gonna talk about some news and and then we'll do some some more technical analysis on and then we'll do some technical analysis on Finance bucks and taranta at some time do it and then just answer your question captain conduct yeah so I have been listed right here I'll just I'll just pull it up man I'll just pull it up so this might be slightly aggravating so the only standard indicator that I have on my chart that you're gonna be able to get on trading view is going to be volume and volume profile if you have a paid account yeah you do have that you do it that was a question really have all you profile if you have a paid account when you go into indicators you can go to volume profile right here and you can use fixed range session volume which I use for day trading and visible range so I have a unique approach to day trading I don't use momentum oscillators much like most people do unless I'm I mean I can but most often I just take scallops based on VP SV I have a full webinar about this on how I trade VPS B for subscribers to the premium trading group very simple moving averages script that I've wrote myself it just allows me to have all the EMAs that I want again this is available to the subscribers as well this is my I wrote the script I wrote the script with a little bit of help from people who know more than I do about coding this is just simply this is just the fetcher transform it allows me to look at multiple time links I cannot take credit for writing that somebody else wrote that feature all I've done really is is help make it very pretty and help clearly identify overbought and oversold levels on the Fischer transform which is which is a much better indicator but the Fischer transform is going to be able to indicate overbought oversold it's going to show divergence it's also going to give buy and sell signals with crossovers and crop unders and it's also going to show maybe more importantly than that when you expect a trend to continue if you're rejecting from the neutral zone either from below or from above and then below that I have average true range of Average True Range measures volatility if average true range is low I'm not gonna be day trading an asset if I were strange is high I definitely will be day trading an asset because that means they're small little 'ti and I also use it to calculate my stop-loss so generally a good rule of thumb is on a lower timeframe something like the 4-hour or the 1-hour 3.5 X ATR is going to be good stop-loss the the traditional way that I like to use ATR though is one ATR below a below the swing low is where I like to set my stop loss and again this also this particular ATR script was also written for me by a friend so I've given all these scripts to the subscribers this one right here again this isn't very fancy anybody you can google how to make this I don't want to take a lot of credit and sound like I'm super amazing this one's a little bit more nuanced this one's pretty hard to get your hands on again this one was written for written by a friend and then improved by me and then this one was written by a friend as well so this one I've given to subscribers this one I've given to subscribers and if anybody wants it as a subscriber I'll be happy to give that one to them as well the ATR precision when we return again I'm gonna take a two-minute break guys and I'll be right back and when we return I'm gonna go over some news articles and then when I get done with that we'll do B&B and TRX but before I before I do that guys I do have to give the traditional thing if this is your first time to the channel we're here every day Monday through Friday at 12 p.m. Central Standard Time for technical analysis and we're gonna be coming on in the evenings on Saturday and Sunday just allows me to spend a little bit more time with my family and really focus on my group during the weekends as well guys if you guys would like to have access to the premium trading group you'll have access to all my trade signals and setups as well as one-on-one mentorship and support you Galax you'll get access to my webinar series designed to teach you to be a profitable trader from scratch don't need any previous experience would help if you had some no I'm not gonna lie but I do my best to walk you through the complicated topics of technical analysis fundamental analysis and market sentiment and that is an evolving project as we go you'll also get access to our database live resources filled with webinars PDFs courses seminars workbooks everything you need to supplement your education and learning curated news scott curates the news every day that he thinks is valid as well other people pitch in and help that it as well you'll get access to the other setups from the other cracking cryptocurrency analysts and traders as well as well as access to the private discord the members lounge in the VIP day trading voice chat we add stuff all the time so like am I forgetting anything mmm feel like I'm forgetting something I know it's cool stuff it's where I hang out all the time anyways guys I'll be back in about two minutes I'm gonna go get some water and then we'll do some news and we'll also do some more technical analysis guys thanks for watching I'll be right back all right guys I'm we're back let's just pop over real quick and check in with our good friend mr. Bitcoin 30 minute chart making some volatile moves right here in the last 30 minutes over the over the last pretty much the exact same movement here that we saw in aetherium nice rejection here from the point of control pullback in a rejection from resistance right here mmm yep still not anything that I want to take part of right now let's go check in with our mr. friend aetherium as well before our chart still holding in there 30 minute chart excuse me still holding in there as well all right so I do want to talk about some stuff let's switch over here all right so kind of something that was interesting to me I've been following this I've been following this as it's been developing overstock security token trading platform t0 went live now this isn't gonna mean a whole lot to a lot of retail traders but it is something to keep your eyes on security tokens are really hot talk really hot talk not so much around retail traders I don't think they're really focusing on the right things most of the time but when you when you kind of get around the scene like I do and when you talk to what other people are interested in talking about especially people who more focus on traditional markets they're really interested in security tokens so you know again I'm not I don't have a crystal ball I'm not here out here saying I've never showed an IC o—- I don't have projects on that I'm not for either you know friends with the friends with the team they're part of the community that I run with or I really like their project and never I don't do anything like that I only only only talk about projects that I really like from a fundamental thought on that aspect hey Jacob I did a I did I did I did a full analysis desert man so if you want to if you just want to rewind after the show you'll be able to find that I do Bitcoin aetherium and then and then zerp pretty much every show sometimes I switch syrup out for litecoin sometimes it's it's kind of whatever is the flavor of the day honestly but today I did dessert um so if you are an accredited investor you can trade t0 security tokens through dinosaur Financial Corp LLC that's gonna be the broker-dealer so for those of you who are familiar with more traditional lending platform not lending platform but traditional broker exchange type relationships or platforms you'll understand so you're gonna be able to trade currently a whole lot of let's see here I do wanted to pull this up what was the nope not this one let me find the link here it is here's their sto calendar right here so these are gonna be the tokens that you can currently trade or that you can currently accumulate right now basically through their token sale platform billion app Krypton sports ledger the elephant fit blocks here's gonna be the upcoming ones mobu Health Bank a DEXA L X D X neck so I if we trade cloud and then past ones here as well the seco gained human health rise a blah blah blah blah blah blah blah blah blah so not not saying anything not giving any recommendations to do I see us again I've never gotten involved in AI cos it's just not it's just not my way of doing things and and here's the thing that I do want to talk about I SEOs aren't gone a lot of people think that I'll just i SEOs are dead forever wait until the next bull market wait until the next bull market you're not hearing a lot about I SEOs right now because there's nobody with deep pockets that is interested in buying into a launching cryptocurrency because so what that's just gonna go to zero I mean look at what happened to grim grin was very widely anticipated to come out it hit the exchanges and all the miners immediately dumped their their their their tokens that they might their coins that they mined out the member wimple chain now I do like I do think that number one ball is one of the most revolutionary technologies that has been introduced into cryptocurrency I do like grim I like beam as well but you're gonna see that initial dump so until we actually see some again more liquidity more volatility more interest in individuals trading active signs of accumulation anything like icos or picking up you know long-term holdings at this point in the market is just not is just not my preference it's just not I would rather pay a premium on confirmation of a bull market then attempt to buy lower and then price goes lower and now I'm gonna try to convince myself that it's a good idea to scale into the position backwards to pyramid down I don't do that guys you do not ladder buy into a trade if you don't have that as a pre-planned area so for example if you're in consolidation and you're wanting to exploit the psychology of retail traders for where they're gonna have their stop losses placed then that's an acceptable you could say well stop losses are likely to be here here and here so I'm gonna be buying in those areas and then I'll have my stop-loss right here but unfortunately what most retail traders do is that they'll buy something price will move against them they'll be close to their stop-loss and they'll say you know what I'm just gonna move my stop-loss down I'm gonna double up here I'm gonna get a better average entry that's the worst thing that you can do as a trader because the best possible thing that could happen is that you you go back to break-even which case you'll probably panic sell and be like oh okay I didn't lose anything I'm out of trade all right or you'll get a slight profit no price will go like a little bit above now you're in profit and then you'll see one red can you buy yourself so the worst the best thing that can happen when you ladder into an intro and into a position that way without a pre-planned without a plan is is that you break even or have a slight profit the worst thing that can happen is that price will continue to move down you'll move your stop-loss again you'll double up and this is pretty much what what bag holders did for all of 2018 and we all know why that hasn't worked out for them you know splattering backwards into a position terrifies me I like scaling into a position as I go so yeah if I if I set up a trade and you know I hit my first take profit target I'll add half to my position I don't double my position I buy progressively smaller Lots if if the market strongly trending and there's confirmation that the market is trending I've taken the risk of my first position off the table and locked in profit that's usually we're all throwing something like a trailing stop and then I'll just continue to to ladder up to pyramid up into my position as the trade continues to go into my favour because each time that I'll add her up I'll adjust my stop-loss locking in the profits from all the previous positions because that way I'm only exposed to risk say my stop-loss my original stop-loss was three percent my first take profit level hits I adjust my stop-loss to three person I go over all this actually in my in my last webinar with examples as well as a bunch of other stuff all right very little sleep last night guys I was up to like four o'clock in the morning working on my most recent webinar for the subscribers and then I had to be up at 8 o'clock in the morning so Lowell and okay thanks ain't no problem in THC will also pay for cannabis in dispensaries industry yeah all coins died during the borough market it's coming back alive with the vengeance yeah they're they're interested I mean the interest in sto si cos is rising and it's gonna reach fever pitches when Bitcoin gets back above 6,000 it's it's going to be absolutely ridiculous they're they're not they're not gone forever man right on man yeah yeah Jay but a lot of the Hemans man but I respect the passion man yeah the trend is your friend until the end man so all rallies are to be shorted in a bear market and all dips are to belonged in a bull market quite simple all right so I do want to give you guys a point out about this I don't know if you guys have heard about this this actually hasn't come across my radar personally which is interesting because you would I mean the amount of emails that I receive from people wanting me to show their projects the amount of emails that I receive from you know or DMS and discord you know trying to get me into scams or you know asking me you know what hey man can you can you send pointone ether to this address and I mean it's just it's relentless man and especially being at you know kind of a YouTube personality again I don't really think I'm not popular anything but whatever it's but this one this one did come across on my new stream so I figured I'd talk about it and just give you guys a warning if you guys have not heard about it or if you come across too just to completely avoid it all right this is called the Bitcoin revolution it's what they're calling themselves it's it's a total scam I did a little bit of research on this it's just your typical get rich quick type scam I don't know the particulars of what they want you to do specifically but but but really guys listen here's the thing the bear markets been very hard for a lot of people and when you have I mean when there's a lot of money involved in any kind of asset all the scammers are gonna come out and it's really bad right now too I mean because a lot of people are hurting hurting for money it's hard to get legitimate money from the cryptocurrency space right now most traders are not being successful no trading endeavors right now because they're there I don't know because they're they're watching they're listening to trading view traders interesting interesting actually trading strategy look at trading view look at the traders that post chart ideas every day and then counter trend trade them try that it's a good strategy works out mostly so the M FSA which is the multi financial service agency released an official document yesterday warning people about a scam called Bitcoin revolution it allegedly operates like all other fraudulent schemes it just promises you know lots of money real real quickly you know just it's all good you know I mean so there was there was a little bit of there was a little bit of a little bit more information on this on on a couple other websites that I found out but again I don't know the specifics of what they want you to do but essentially what I understand is that you know you get involved in the scheme you can obtain lots of money real quick in just a few amounts time nothing like this is ever gonna be real guys there's just the opportunity there like if you on Facebook I see post like you know work from home and earn 60 k DM me dude it's all none of that stuff exists if you want to work from home and make 60 K a year then you just gotta you got to find something that you're good at find a way for people to pay you for it and then grind yourself into the dust let's turn that down just a little bit thanks so much Scott for the sub one on the sub on twitch man highly appreciated man you might dude yeah I know dude you did that Scott you did that you blew out the eardrums yeah I did have to adjust that sound man but but thanks brother I highly appreciate that man okay so if you guys hear about Bitcoin revolution apparently there's some other names that it's going by but yeah any just in general if you come across anything that says earn profits real quick it's not real man and then the last thing that I do want to talk about so this was posted on reddit about 13 hours ago this is a public service announcement local bitcoins calm was compromised if you attempted to access the local bitcoins forum it would redirect you to a login pretending like you had been logged out and this was actually a phishing a phishing site and they were capturing your login credentials and actually funds were being stolen so a follow up right here that was just posted here about eight hours ago from the community manager on the local bitcoins subreddit said that we'd like to announce we'd like to inform everybody today that at approximately 10:00 o'clock in the morning local bitcoins had detected a security vulnerability an unauthorized source was able to access and send transactions from a number of affected accounts outgoing transactions were temporarily disabled while they investigated the case this was a third-party software oh my god who could have thought man who could have thought it was a third party who could have thought it was a third party software so apparently they were using some kind of plug-in for their forum utilization for their users that wasn't that was an exploit was found in that and login credentials were able to be stolen so funds were stolen so if you guys do have a local bitcoins accounts if you have some cheddar on their ID go check that out make sure that you are the mature again there's there's lots of stuff that you can do to verify that you're on the right website basically if anything read if you're at any point in time if you're on a website and ask you two relog in and you're already logged in like don't do that go back to the main page click on the log in that's the way to do it if it says anything other than the normal thing up there again make sure it's HTTP yes make sure that you got that you know a little lock symbol up there and you your URL bar there's lots of good YouTube streams that you guys can figure out for account security guys you know I general recommendations are of course every for every exchange that you're gonna be trading on pretty much for every account that you have use a different email address that way if one gets hacked you're only being you're only getting exposed to the the security vulnerability from that one account use two-factor authentication on both on all your emails on all your different email accounts and all your exchanges that are upon all exchanges you have to use two factor authentication just hands now they use it any and everywhere you can there are more complicated procedures that you can go through like using a VPN which I do like what's the word I'm looking for disassociating your browsing habits so for example I have a browser that I do my crypto currency trading in I have a browser that I do my general web browsing working with my team writing you know writing pieces for not only the community but for the blog posts for the website things of that nature you know scrolling YouTube reading news articles things like that you know I use different web browsers for all that stuff you know my paranoid I don't know but I'm pretty safe you know I don't I don't suffer I haven't I've never been the victim of a of a big you know a vulnerability scam I run a pretty tight box around here you know if I've got some software that I don't know I run it in a VM you know and again I'm not a tech I'm not it I'm not a big techno nerd I just know I mean that's just basic everyday stuff that you definitely need to know in this world Kappa Kappa Kappa man all right guys let's go back to the charts oh definitely in a little tired man spin out a long day been a long day okay so we were gonna talk about BnB you guys didn't see that let's go look at B and me to BTC and then we'll come back here and look at being B to us DT but I assume every time when people ask me to look at the chart they want me to look at they generally want me to look at PT see here's a few things so B&B announced today that they were going to allow staking and to stake you're going to need to have over 10,000 B&B so pretty big pretty pretty huge run-up here in B&B you know 60 60 % move here in just a little bit where are we at here for B&B BTC now look at where we're at right at resistance we are right at resistance here was your nice call signal right here you've got your 100 excuse me this is your yeah your 100 exponential moving average right here you've got your 100 simple coming in right here they make sure that I'm not being crazy because I changed my colors frequently so yeah okay great so that is absolutely right you had your nice little breakout right there of your 100 exponential price moved up pulled back bounced right off of it as well you also get this nice you get your nice 55 above your 100 exponential moving average right here very bullish crossover signal right here I would expect to see a little bit of a pullback at this point in time right here we've got this hvn coming in right around here as well as your previous your previous consolidation area before this last bullish up to rest volume is kind of high now here's the thing we can't see some continuation of this it all just depends on what price decides to do right here at this previous resistance only a preview of the resistance here you try to put in a little bit of support here rejection though once you break down confirm rejection right there resistance here and now you're right back up at that area so always want to make sure that you're zooming out to look at your trades Fisher transform looking a little overbought right here giving you the given given a little bit of the crossover on the daily timeframe and actually it's interesting about this let's look at the Fisher if we put in a top right here will also be bearish divergence so yep pretty significant resistance area here for B&B although B&B another thing about B and b2 is that it can often be viewed as a leading indicator for the market so when when people are putting on B&B it generally means that they're going to be trading more and we're seeing these really nice bullish movements and some of the altcoins right now I mean a lot of the altcoins up you know 30 40 50 60 percent and that's because that's because of if we go back and look at the volatility a Bitcoin again when bitcoins not volatile betray but it's not profitable d'etre you're going to see opportunities flow into the other currencies so thoughts on B&B alright well it's pretty simple man we're gonna see how price responds to this to this resistance point right here again not really seen this is nice this is nice bullish this is a nice bullish move right here nice growing bullish momentum right here don't see necessarily a blow-off top you know for a blow-off top you'd want to see something like this where you have a volume spike that is really that it's really you know head and shoulders above everything else this is more just very bullish trending consistent volume steadily growing volume on the way up now we are at that resistance level and you are seeing a little bit of a reaction from it on the daily timeframe if we go down to the 30-minute chart we can see yet we can see kind of the resistance kind of the reaction here against that movement or excuse me against the proximity that resistance line right there again when we're drawing resistance lines as well I do want to I do want to tell you guys that you should be drawing them like this you want to be drawing them with a crayon and not with a fine tip marker because all that's important is the zone and then you just want to use if you want the actual way to do it you can go down to a lower timeframe and you can use something like Average True Range to go you know so whatever average to ranges on something like the four hour time frame you know above or below that level it's a pretty good as a pretty good variation right there it gives you a good gives you a good radius to be looking to put on your cells when you're getting confirmation from the market that the trend is about to change so looking at the daily time frame things look extremely bullish right here again we've had that we've had that 55 over the 100 exponential moving average crossover again we're about to get the hundred simple over that as well if we throw on and again this is not usually the way that I do stuff as well but we will for the sake of this if we look at a couple other factors here as well yeah I mean just everything looks real real nice guys you know we had this really nice bullish run-up where price is pretty much above all our exponential moving averages and then obviously we enter into the yeah just an extremely volatile movement down price enters into accumulation for quite a while we have a pretty violent spike down to tap into liquidity clear everybody out so this is the way that you're looking for these are long-term stop-loss ones right here were you put in a lot of consolidation you have a volatile movement down that pretty much wipes out everybody stop losses then the bags get filled and then the bull run starts so B&B absolutely trending right now if I were in the trade I would be waiting for confirmation to be taking profits again looks like a good area to potentially be looking at that and to be looking at re-entry upon retests of hvn or you're waiting for your simple move for your moving averages to catch up with price let's go ahead and throw all that extra stuff off because we just want our Exponential's so let's go ahead and throw on let's go ahead and throw on actually our 13 and our 8 because now we're looking for a little bit of support alright so we've got our first area of support coming in right here at this level which was a little bit of previous consolidation before this latest up to rust however as we can clearly see significant support is all the way down here at our breakout zone now we definitely would not be looking you know again this is not going to be anywhere where your stop-loss is going to be I would say that getting down below this level if we go down to something like the four hour time frame and use Average True Range so as we can see on the four hour time frame we've got our moving averages moving up into this area here we've got our 55 we've got our 100 as well our 200 exponential moving average coming in right there so we've got a lot of confluence coming into this area B&B is able to hold this level then again be looking to potentially enter into a trade here if you're not in the trade be looking to enter here as we pull down to this level and nothing a stop-loss right underneath this area again there's somebody testing fire alarms I you know yeah there's just a lot of confluence right here in this zone yeah high volume node nice spike here on the high volume no let's actually move that down a little bit better sorry you just want to be yeah I got it about as accurate as I can on the daily timeframe as well you can see here we had previous resistance so as we came up here we were expecting resistance here as well but we were just able to blast right through it now if this pulls back and forms support right here this will be a nice SR flip and then we will look for this resistance level to get broke as well as you can already see we've had this I'm going we'd consider this clearly a test of resistance because all we'd have to do is just move over assistance level down a little bit seems to be accurate you know as well just not we're not just targeting the highs we're targeting the overall zone and if we wanted to be actually specific the correct way to do it would be to actually look at this area and the market let's go ahead and start deleting some stuff here guys sorry I want you get confused as a wobbling around the correct area would be right here because that's your actual the daily isn't able to open above this level excuse me close above this level so with daily open and close above double zero 19 786 or I mean really really sets psychological level of 20 of 200,000 satoshis excuse me 20,000 so she's so that's really that's really that nice size psychological area that price is not going to be able to get over this is also because it's an important round number you know Bennett just put out an amazing video on trading the psychology of round numbers so go check that out if you haven't had if you haven't had the opportunity for it basically what we'd be looking for for a very bullish moment is I wouldn't be surprised to see a big wick up above this area to tap into liquidity just as we saw over here again this is going to be our first test of resistance ever since the breakdown right here so we're just coming back into previous territory right here and we'll just see how price responds to this level again we typically short resistance and long support I'm so looking for reentry down here in this area assuming that that holds we've got confluence there on the four-hour time frame with our longer exponential moving averages coming in however on the daily timeframe don't really have them coming in until down here so that would be putting in this area right here hey Starman jack what's going on good looking out good to see you my friend good to see ya yes Wally I guess the Bitcoin revolution doesn't fix everything yeah yeah Canuck you're absolutely right um you know trading against social sentiment is is actually a powerful way to trade you want to exploit the psychology of retail traders hey goober Kosh sorry man I don't speak I can't understand Cyrillic man betcha Google Translate can though and Starman Jack again it's very good to see you very glad you catch me live let's do this over here go to ARMA ARMA a Spanish for weapon whoo-hoo shots fired in the chat all right all right guys yes so if B and B can go ahead and open and close a daily candle above that nice psychological level again you could say 20,000 if you want for me that actual daily resistance based on a closing basis for daily candles is going to be coming in at 19:00 786 where's our next significant resistance level after that well it seems to me that our next significant resistance level after that is going to be right here so that's our daily resistance Campbell guys and it takes guts to put on you know to put on big trades like this guys it really does but I mean there's just nothing else in between if we look at the volume profile I'm it's just shallow there's just nothing here guys there's just nothing here there's no significant resistance until resistance you know it doesn't mean the price won't doesn't price doesn't mean the price will will does have to go here it doesn't mean that it just means that there's no other metric that I that I can use to understand what's going on here see a little bit of bearish divergence on the fissure right here coming up on resistance I mean flying real high but you know one one positive thing about this that I do like is that if I was expecting to see the end of an uptrend I would want to see a blow-off top like this where you just have a volume spike that's really unlike you know anything around you and we don't really see that right here we see nice steady progressively growing volume so I quite like this I don't think that B&B is as done playing so I'd be I would be looking for entry down here right around these levels or definitely buying into the breakout if we're able to open and close a daily candle above resistance right here because the the opportunity there is in my mind's just just a no-brainer and that would actually be testing the Ultima I mean we're back at that 50% mark so yeah I mean here's here's the thing man like when when coins are only putting in like lower highs and lower highs and lower highs yeah I can totally understand people saying like oh it's just a suckers rally above law like look this was a suckers rally okay this is not suckers rally this is an uptrend I'm sorry guys daily timeframe you know all your your 200 periods your 200 period exponential broken your 100 period exponential broken your 55 exponential period broken I mean what more do you want it's a goddamn uptrend all right guys alrighty then now here's the thing about TRX a lot of people are bullish on TRX and TRX is a little bit different for me because of the following reasons so again we've got we've got a ok so coming up on resistance right here the first the the first tie ball you've note after this a shallow area of the high volume node right here our next area that we're going to be looking at for support is going to be this level right here on the daily timeframe now here's the thing if we actually look at volume and when we're looking at TRX what we can actually see is that we have a blow-off top right here we have a blow-off top right here and then now we have an attempted movement up up to to basically the local high on very very weak volume so what I'm actually expecting from TRX is not to be able to break this high I'm not really expecting that the alternative strategy is that we put in an SFP where we do go slightly above to tap into liquidity and then move down you know if we look at look at the again we have the Fisher right here coming into our overbought territory again just as it did right here just as it did right here just as it did right here just as it did right here alright now while you cannot merely trade off of this you can also see here that price is moving up on lowering volatility alright and when price is moving up on lowering volatility and we're in overbought territory and we're moving after a blow off top on low volume that to me shows weakness in the Bulls now we do see this nice daily candle today up seven point three nine percent but this to me almost seems like the blow off top that I'm kind of looking for now again it's not the blow off top because the volume is not there but what I'm saying is when you see price just just stuttering and sputtering and sputtering and sputtering I mean look at the uptrend right here quite nice quite strong and then you just have this you know kind of same you have this knee of three black crows you completely reach rate this retrace this on the bullish movement but just looking at volatility in momentum which you can which you can clearly see with Average True Range as well but also in price action we just see that same kind of sputtering and stuttering and then one nice strong bullish candle right here getting a negative reaction on the daily as well right here so let's actually go into our lower timeframes and see yep so we do have again going down to our lower timeframes you do kind of see that same same type of blow-off top again again this this is irrespective of stuff because this is a very low timeframe as well so the volume the volume is going to be relative to that as well so the last TRX trade that put on was the break of the falling wedge for us as well and now actively looking again we're back at resistance and looking to take that to the downside I don't see the strength in the daily timeframe on TRX so you this is actually one of the active positions right here it just seems like just seems like a no-brainer man I try to take the no-brainer trades weakness in the bowls nice little attempt at stab up right here now I could be completely wrong again trading is 50/50 min it's actually 33 3333 this price can go up down or sideways but not a gambling man except for when I press that button and I've pressed my button man and I'm gonna stick to my guns and I'm gonna short TRX eli back man thank you so much for the $5 tip man highly appreciated man for being one of the good ones no sir you are one of the good ones good friend you are but thank you so much for the support man so yeah I don't want to rain on anybody's TRX parade but yeah I definitely want to take this to the downside definitely want to take TRX to the downside I mean the potential is just there man looking at the daily timeframe where do we have our first moving average support it's about 26 27 percent below us and significant horizontal support about 33 percent below us so what would I rather do would I rather would I rather go long for an opportunity of 30% moving into resistance on weak momentum when everybody's screaming the tron is going to a thousand SATs right now or do I see the weakness in the Bulls I see the falling volatility the falling volume and say to myself you know what is good opportunity right here for a short I like it now I'm gonna have to tighten that up because again on the daily timeframe not gonna allow myself to incur risk like that so what I'm actually going to do is probably do 16 now again the the subscribers have full access to the actual SL I'm just plotting out a hypothetical one for you guys all right one thing to keep in mind too is to watch out for a potential SFP as well so if you wanted to play this a little bit more tightly if you wanted to play this a little bit more tightly say you wanted to enter here maybe you could you could use a very tight or a fairly tight stop and that that position again if we do end up testing the range high again attempting in my opinion to put an SFP pattern a swing failure pattern where price will go slightly above and then reject then perhaps you could look at basically entering here with a stop loss equivalent at that level so no need to take a massive loss again timing is difficult but as long as your fundamental idea is correct and you're paying attention to what pivotal moments are in the market then you'll do all right nice big reversal candles like this great opportunities when I see that's basically that everything is getting weak and we can we can we can week on longer time frames as well good opportunities that I see um does it take less money for a bull to jack up the price on a low market cap yeah I mean yeah I mean the lower well it actually depends on what the 24-hour volume is so if the 24 hour vote and it depends on what the order book looks like so you just have to calculate that out for each position so you know if somebody has so say somebody's trading with 20 million dollars and they want to put you know three million dollars into a short position on on on something that they can go short on then then it's gonna be fairly all their other doing is waiting for an opportunity or for the order book to be thin for the for the ask side to be thin on the order books and then what they can do is they if they know that they can market by up well I mean okay so let me paint the full picture so a couple ways that this can play out so say you have you know somebody with deep pockets that batlló and price is quite high and they're trying to incentivize traders to buy in because when traders see big candles like that retail traders instinct is to buy because they think oh my god price just moved up four percent or whatever I need to capture that movement price is gonna continue to go even higher I need to buy right now know what you need to do is sell on those big green candles that's when you need to do your selling it's just it's it's just the opposite of what of what your mind will tell you what to do and that's why you need to be exploiting the psychology of retail traders to stop being a retail trader in my opinion so so so it would take if there is low 24-hour volume if there's a thin order book it's gonna take less money for somebody to jack the price up so say for example I had a million dollars worth of something and I wanted to incentivize traders to be purchasing something equal to a million dollars because remember if I just I can't just market sell a million dollars I'm gonna need to limit I'm gonna need to ladder that and I'm gonna need to incentivize traders I'm kind of into a frothy area where a lot of people are gonna be buying I have to I have to really trick traders into buying so I can offload my bags on them you know because otherwise I'm gonna slip the market I'm gonna move the market when I just dump and the markets just gonna tank so I need to offset that somehow so that I can get a good price for all my coins so to do that you have to incentivize traders to buy em you do that by doing SFP is so when price goes above local highs people like oh my god we just made a new high I need to buy and that's generally when you want to sell oh my god price just moved up on a huge candle I need to buy no that's also probably where you want to sell so yeah I mean TRX can go up a little bit more here but um and my trade can be invalidated again I'm not an Oracle I'm not a crystal ball err I don't I don't know what the markets gonna do I just make my living taking statistical trades where I see pattern recognition where the trades are in my favor and all the tools in my tool belt that I've learned to use to help my my fundamental understanding of the way that market cycles work all give me confirmation as well so yeah all my technicals give me confirmation on this just looking at the overall market looking at social media sentiment I mean sentiment for for honest one you know what social media sentiment was for like like ah for Bitcoin on December 17 2017 you know what you should have done sold oh yeah IOP I was keeping my eye on IOP as you can see look right here IOP boom big spike in buying big spike in limit buys actually over the last just you know really recent amount of time man so actually I'm kind of excited about IOP because when I see something like this on the market depth ratio this is pretty bullish to me now let's go see if the technicals line up with that I've been keeping my eye on ILP freemen alright so you know interesting enough this was my old shark for ILP I didn't make this after we had a conversation I made this somebody had requested ILP a long time back on the stream and I made this chart so what do we see what do we see going on daily timeframe does not look good I'm not gonna lie so looking at the market depth ratio again I'm trying to pay attention to this as well because I do see some big spikes in buying we saw a big spike in buying at 5:03 and we're seeing a big spike in buying now at okay so sorry so this is not going to be correct 503 and this is going to be 126 203 a.m. okay so let's go sorry let's go to the daily okay interesting interesting interesting that it's not reporting that accurately okay so on the daily this is dropping but if we go to the weekly the way this is okay so I had to refresh the page sorry so you can see it you can see my error there okay so we saw big spikes in buying at 5:03 and around you know 2:00 to 2:30 2:30 to 3:00 o'clock in the morning last night so let's actually go take a look so yesterday at 5:30 which is gonna be around 1700 yeah so interesting so yep boom 1700 right there you had a 4.5 1 % trade let's go look let's see it when we would have gotten that signal we haven't gotten that signal at 5:03 p.m. would that have allowed us to catch that trade there we go it's back over here teen yeah pretty powerful guys so here's the five-minute chart oh sorry that's Chanyeol hump the heck's going on here guys why you messing with my emotions okay so in 1900 so we want the 25th we want the 25th at 1700 so right here 1715 okay so we would have gotten the signal in between this candle in this candle big spike in buying 5 minute chart right here so here's 5 o'clock we got the signal at 5:03 I know I'm doing some like ultra day trading stuff right here but just bear with me yeah so right here on this candle right here as when you would have gotten that signal from VC depth and you could have had the potential to use a trailing stop by right there use like a 1% trailing stop you could have netted yourself a 2% profit on that trade so if you guys aren't using VC depth go check that out now situation doesn't look good now why because the market has completely reverted completely disrespected that area we have a we see a net loss of buyers and we also see a net loss of sellers as well and that's not good to see a fall of open interest when we see a fall of open interest we see decline in price no matter which way you want to cut it because even though there's gonna be more sellers because we're in a bear market so price is going to be being suppressed when you see falling open interested means interest to basically trade the coin has dried out liquid and he's gonna pull out let's see her so daily timeframe for IOP yeah daily timeframe for ILP man the daily is dropping down below that 55 let's go ahead and look at kind of a zoomed out volume profile as well you know you're coming up on your volume profile support right here but you can't blindly trade this because I mean this is a huge range man and you're not exactly sure where you're gonna bottom you know so we had a good run there man I mean I believe what it was about you know this a few days ago when we started talking about this so you know we had a good we had a good run man we a good opportunity we just weren't able to stay in the bullish momentum and now you're getting kind of that signal right now crossing down below your 55 let's look and see what the Fisher's doing yep and we see the Fisher crossing down here actually two days ago they given us the cell signal here on the daily right there so we're just overbought coming back down got to take a breather man let's look at volume yeah we got that nice spike in volume but yeah just not a lot out I hope use just this just not ready yet man it's just not ready yet to make that big move volatility super low as I talked about earlier price moving up on lowering volatility not a healthy sign well you know we'll take a stab here man if you want you can wait for the daily candle to close it's possible to do that we do get a little rally off this 55 and end up closing above it again you got to wait almost a full day for that gotta wait almost a full day for that and I would hate to do that to somebody so again not you know not again I don't say that not financial advice crap because that doesn't protect anybody the reality as men you're gonna have to be responsible for your own trade and I'll do my best to be the best analysis that I can my good friend but yeah this isn't it's not looking super LT to me man I'm not gonna lie we had a stab there we looked at VC depth looked okay it's just not holding the level man it's just not holding the level you know the dailies closing below it so like I said you know it'd be safer to wait well it would be conventional to wait until the daily Campbell closes and get confirmation your breakdown here but just the fact that we moved up on low liquidity we kind of had this nice blow off top Fisher transforms overbought on the daily following volatility yeah just not my cup of tea man you can see also here you see our 13 and our 8 exponential moving averages which is what I kind of use for that for the smaller for the smaller timeframes is not for the smaller timeframes but let me how can I explain so so when I see you know when you see your 21 crossing above your your 55 it's it's you're kind of your traditional call signal for your moving average crossover same thing to when you see price crossover it as well but you can see here that the 8 which is our fastest EMA it's actually looking like it's gonna get a rejection here from the 55 so just kind of a rejection from firm resistance as well as one way to view that now again that's probably the first time that anybody's heard me say that because it doesn't happen very often we actually see a moving average reject from a previous moving average and might not be the most accurate way to think about it in general but just you know just an element of the strategy of looking at the chart that you should keep in mind then let's say you're supposedly they're releasing some information on Monday about their project that's supposed to be big news but who knows you know you know I see this stuff a lot in telegram man where people will put altcoin signals out and then they'll they'll tether it to to a like a news to a news announcement and I in my in my opinion I don't I try to ignore those things the reason why is because the market doesn't move on news I mean we saw that the solid X van eck ETF got withdrawn and the market basically did nothing yeah so how can i sorry I just want to make sure that I'm describing that more clearly what I'll often find is on telegram people will post some fundamental information like there's an ask me anything or there's a news event unfortunately we're in a bear market man in big news events like that aren't really gonna move in the market that's why I'm really focused on the technicals you know again the old saying goes show me the chart and I'll tell you what the news is not you know tell me the news I mean so tip again you know buy the rumor sell the news you know so again if we can get some nice reversal here on ILP I mean it was looking good for a couple days we closed the daily above the 55 we had a nice little run up looks like we looked like we were gonna run up here to the to the hundred simple or excuse me that's the hundred exponential and it just didn't happen man it's alright we'll get him next time Tiger so let's just wait just wait get a bullish get a nice little bullish movement right here and we'll go trade something else man this is the life we've chosen all right how much gold can you get per Bitcoin that's an interesting question I'm not exactly sure a blockchain blockchain G says any thoughts on xlm you know I got it I got a jet man I just checked the clock and I gotta go get my daughter but I'll take one quick glance at excellent yeah you know here's the thing excellent I was looking at this earlier too it's starting to look like an attractive price to buy you know we've got our Fisher that's really oversold right here below one standard deviation pretty much or excuse me below two standard deviations at almost going down to four standard deviations now which was the place that we bought them that last time right here on the Fisher not any divergence to speak of whatsoever in fact just confluence actually ATR getting very low and just similarly when I see price moving down on very low volatility I start looking for I start looking for interesting for interesting spots to buy if we do take a bigger look I mean just clearly we're at the bottom of the range you know by resistance are excuse me a long support short resistance we've got all our moving averages crossing down above us so we do got some we got some significant we got some significant resistance to get overhead I'd like to see a little bit of confirmation at least on our shorter term EMA's again we've got these our take profit targets our longer-term EMA is more below them and I'm looking for bullish confirmation by lise closing at least closing above the 13 excuse me the 21 so we've got this high-volume node coming in right here that's gonna be acting as our first area of resistance right here Oh seems I have to lead it everything yeah so here's my chart right here we've got all the HV ends plotted out as take profit targets on the way back up we've got confluence there with our exponential moving averages I know this chart probably looks really cluttered but this is actually the 4-hour chart I need to actually redo this for the one-hour chart because I was I was trading these ranges the last time that that I was looking at excellent so yeah we need we see some very interesting price contraction right here at a very interesting level the stops have really been placed out because a lot of people would have placed their stops right here around this level in fact let's just go ahead and get rid of this crap right now we do have swing lows right here so a lot of people would have had stop losses placed right here and we've seen those now be triggered the only thing that I'm worried about putting on a position right now is how volatile a price moved down in this range right so we do have this LVN below us and if we close the daily in the realm of this LVN I'd be very worried about xlm but overall I do just have to understand fundamentally that xlm is a very strong coin it's got a lot of supporters got a lot of money behind it a lot of interests in trading it's one of the big ones I'm not gonna be a perma bull here or anything like that but it just seems to me like good attractive times to be buying projects because the the risk to reward potential is just too great I mean you know where let's even say that you set your stop-loss below here let's just be real like so let's say you allow yourself a 30% loss all right it's not a good way to trade I'm just saying you know you've got a 60 to 70 percent upside right here it's just that you know certain things seem like no brainer so I'm not putting on an Excel in position yet but it's getting to that point where I'm like yeah this is starting to be a no-brainer man especially looking at the daily look at that you get this big nice volume spike if we actually zoom in if we actually zoom in we get this kind of like nice Darth Maul candle right here these things are starting to look like test pumps to me so again I'm not gonna be putting on a position until the daily closes at least about the 21 exponential need to see eglise de resistance get broke I'd even prefer to see this level get taken out first like 2965 that's our local resistance that's our local top I'd like to close a daily above that and then I can be like all right cool we've you know we've had a big volatile spike down telling me that most likely we can see a local bottom and now we've broken resistance – all right cool now we've got these moving averages overhead they're gonna act as short-term targets and overall if we take a bigger perspective we can start looking at HV ends right here for resistance we've got one coming in here we've got one coming in here and we've got one coming in here interesting areas for us to take profits so in the short term I'd be taking profits at our exponent and then if we're able to close the daily in above this range we've got this big LVN right here and if we if we close above our 200 right here or 200 exponential then I really don't see anything stopping us from these take profit targets right here so that's when I put back on the trade take short-term product take short-term targets at resistance wait establish is price gonna actually zoom to the LVN let's put it back on and let's go yeah this is starting to look pretty this is starting to look pretty nice this looks like this looks like really really oversold volume right here so might not be a bad time to actually snacks them up just make sure you're managing your risk man look what happened over here alright guys that's the end of the show I got to be leaving you right now as I normally do at the end of every show I just want to thank you all for coming by if you have any questions comments thoughts concerns sarcastic remarks and/or death threats feel free to leave them in the comment section down below I just want to thank you everybody I want to thank you everybody for coming around you know liking subscribing following joining the discord I highly appreciate that make sure to check out discord dot crack and cryptocurrency com keep the conversation rolling guys you know even after the show it's all about the community we do try 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5 thoughts on “Breaking Bitcoin – Bitcoin Hunts Short Sellers – Live Cryptocurrency Technical Analysis”

  1. When it comes to the Volume Profile, do you have any preferred or go to "look back" periods for each time period? For example, on the daily volume profile a few weeks or several months of data to the Volume profile. I know it's subjective but would appreciate your thoughts. Thanks!

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