Here Is My Bitcoin Trading Plan For Today

hey guys welcome back let's do a quick market update so today's Monday usually do my videos on Tuesdays and Thursdays I missed last Thursday I had a lot of stuff going on but we'll make it up for today and I'll do video tomorrow as well so Bitcoin guys I'm looking at the one day I'm gonna get rid of this line real quick so I'm looking at the one day and you know this is the linear scale I can go to vlog scale in just a moment but just a quick quick glance at what's going on here huge run-up if you're new here I do a lot of technical analysis on Bitcoin all for educational purposes please do your own research but we had this huge run-up obviously we totally overshot what the real price of Bitcoin should have been valued at right a lot of hype through here I'm gonna remove the Bollinger Bands real quick and we've been kind of consolidating ever since we had a couple of pull backs just filling in gaps behind this huge move right when you have all-time highs that are being made you need to retest certain levels and when you retest certain levels you start developing trends right so in the future like maybe a year or two down the road or maybe six months from now when we come back up to these levels they're gonna be points of interest so right here right around eleven thousand seven hundred obviously this is going to be a huge point to break especially getting out of this bear trend right even ten thousand dollars will be a very very important level to break just because first of all that's a psychological level five digits and second of all it's it's really been tested a few times and we once we got below it we couldn't really break out of it so yeah so we just we we fell back let's say I mean we can say this measure moved down all the way down to 6,000 so that was a 70% to move down and we retraced from that point all the way back up about a hundred percent what we'll just call it a hundred percent exactly so if you're able to capitalize on balance right there and actually sell up in this area you made a crapload of money right obviously not everyone is a perfect trader so they're very very far if the fume and in between that actually took advantage of that move right so if there are a lot of people that take advantage of them move well I mean this it wouldn't look like this so a lot of people are interested in this in this trendline right here on the linear scale but we tested it right around sixty six hundred and that was in April we came back up came back down and now we are testing it again in in June well may we retested it in May on the 28th and we might be trying to test it again but I've been saying if if we the more the more times we touch this line I mean yes the more trendy it is but there's a lot of pressure there's a lot of pressure down on this area and if we end up breaking this trendline we're gonna come down to about 6500 okay so let's say we do break this trendline we come down to here now what can you guys draw on here well I can see a descending triangle instead of like a like some sort of wedge we can move this line down right here and kind of start drawing this descending triangle and you can draw this opposite and you can kind of see that this descending triangle is a bearish one now if I go over here and draw the same type of triangle but upside down that's an ascending triangle okay and eventually you break out so here eventually you break down but we haven't quite created that triangle yet just because we haven't this leg down didn't come down to about 6,600 so it's it's staying at about 7,000 right now so that's why it's still we're technically still on a wedge but this angle on top is a little bit steeper so that's what kind of leans us towards the the bearish sentiment meaning that if you if you think about it the when the price comes down makes a high or make some nice balance comes up comes back down pretty close to that six thousand dollar mark so the price navigates really close to this but makes a higher low makes our low balances and then really doesn't have a lot of momentum it actually doesn't come up as far as as this came down close to this line here so we're getting this steeper trend and eventually if this were to break down like I said that's gonna create that descending triangle and that would set us up for a bearish move down and the way I like to kind of measure these moves so say that does happen we can we can take this measure move here copy that drag it down to that high like that and that could potentially be a target so right around 4,500 and that makes sense because we have this huge gap in that we haven't even retested yet right so like I said in these areas here when we completely overshot the price we had to come back down and fill up these gaps to create some sort of support and resistance areas in and again if you're bullish long term guys you want this because this is gonna set us up in the future right this is all price discovery so if we do come back down we could potentially fill up this entire gap I'm not saying I'm not saying it's going to happen but I'm saying it's definitely possible and I wouldn't honestly I would not be surprised also in addition we still have this declining volume right on the daily and it really hasn't so this bounce here really wasn't on volume so it's not very very strong balance and that's kind of why we're kind of tipping over right here and I'll kind of go into the four hour in just a moment but if we yeah let's just let's just go right into the four hour because I saw something in the four hour all right so here's the four hour guys a little shorter time frame and we can get rid of this line so it doesn't confuse you so what we have here is the four hour Ichimoku cloud and we had actually gone through the ki-joon on the on the for our cloud okay and we had a TK cross below the crew below the cloud so if you were shorting this this is where you would close your short and call it a day and kind of sit on your hands and wait to see what happens we entered into the cloud we didn't quite make it up to these trend lines right here okay and also on the one day let me just go back to the one day real quick but this bounce I was sort of expecting our bounce to go all the way back up to around 80 200 or maybe just shy of it because that is where the ki-joon is on the one day once see what happened was we got above the ki-joon here and typically when you get above the ki-joon on the one day it's a it's a pretty heavy-duty support and if you're below it's a pretty heavy-duty resistance so what happened was we did end up breaking below the kijun came below and I was kind of expecting and that's why I drew this arrow here on my last update to about this keygen area but unfortunately we came down and we almost sort of tabbed the conversion line or the tenkan that is part of the Ichimoku cloud okay this blue line here so we're rejecting off of this area and we're coming down so let me go back to the for our real quick to see where we could potentially bounce so again kind of like the same story we have the key gene right here and we could we could fall and hit the key June like this and then have some sort of bounce like that right that is definitely possible and then it could potentially set us off for like sideways sideways move like this and we've seen this a million times or we just for the next maybe maybe week or so or the next like three or four or five days we kind of go sideways kind of form this this area of area of support or like a new trade zone above the ki-joon and the longer we stay flat up here the higher chance we worked we are going to kind of breakout and that could bring us back up to that $8,200 level which is the key June on the one day so that's kind of what I'm thinking but it's obviously if we do break this key June guys if we break this key June I'm definitely expecting this to kind of come and work its way back down to at least hit that trendline okay to at least hit that trendline and that is going to be let me go back to the one day again to do okay that would be this trendline here let me delete this green area okay so it would at least in my opinion it would come down and hit that trendline again potentially make a higher low but you know that would be the one two three four fifth touch on this trendline I would get a really nervous here and if we were to break 7,000 that's when I would expect a lot of a lot of Long's to be closed out and then the short positions opened we could have like some sort of from the wanna positions being liquidated you could have some sort of so off like that and then kind of buyers come in and bring it back up to that trend line again and then bring it back down okay usually when you break major trend lines like that you do have some sort of retest of it and then you eventually work your way back down so so if that were to happen I would I would kind of expect something like that so but yeah that's that's what I'm thinking right now so in summary if we stay above the ki-joon on the 4:00 hour I would expect some sideways action some no trade and potentially a break out move towards a one-day keygen which is right around 80 200 and then on the on the well if we break if we break through this cage and I would expect a retest on the one day really I mean the trendline doesn't matter what time frame you're on it's trendline but I would expect a sort of like a retest of this trendline if it makes a higher low cool and makes a little W it could it could make a little W if kind of find support right here and break up like that that would be fine but again guys 1 2 3 4 & 5 the 5th touch I mean that's getting a little risky there so I would be very very nervous in this area here so so yeah so on the 4 hour I'm closing I want a decent amount of long positions if we start breaking below this and I'll reenter if I see that you know we kind of capitulate down we find support up here again above the key Jim because I just so you know even if we do break through the key June like it could be for like a moment moments in time where we just kind of wick our way through and kind of make like a hammer candle and and eventually just like kind of like close above it that's also possible because maybe you have some some big guy who's who just gets a little worried and he sells like 200 bitcoins alright 200 bitcoins will will poke right through this and then you have the majority of the market or the other whales thinking like this guy's crazy we're keeping this price sideways for a little bit longer and they'll keep the price above the keygen sideways and then try to move it up towards the 8200 mark so yeah so that's what I'm thinking guys I really hope you enjoyed that teespring so teespring I I changed my my so I took out the Kyle let's see buying all the dips alright so I took out the Kyle and BTC Kyle to make it more Universal for people to wear I totally get it like I don't what typically like wearing people's names on my my clothing so I totally get it and this actually came out really cool anyway so BTC buying all the dips like that is really cool and these are some really high-quality sweatshirts or hoodies and then of course we have t-shirts and we have different colors as well so you can get it in white same with the hoodies you can you can get the hoodie in different colors as well so if you wanted to get it in like a gray or like a navy blue we also have mugs so the black mug looks cool but I think the white mug looks even cooler but that's just my opinion and then we have women's tees as well and I couldn't get a lot of options for the colors for some reason so I only have kind of like this black and white but if you guys are interested in supporting my channel check this out it's a it's a Bitcoin hoodie it's a Bitcoin shirt so you can't go wrong so that's all I have to say for today guys I really hope you enjoyed that and I will see you tomorrow for the Tuesday regular updated peace out

10 thoughts on “Here Is My Bitcoin Trading Plan For Today”

  1. Hi , just subscribed to your channel, can you please tell me what platform you using and do you have any extra program to moving these lines on the platform? I am on coinbase (gdax) and it doesn't have these helpful functions. Thanks

  2. Saw you in the Privatix telegram today, if they do actually start some marketing with their alpha release how high do you think the market cap could get to within these next couple of months?

  3. Bro can you give me answer of one question please- i am waiting for 5000,3000 for bitcoin since jan should i still wait for 5000🤔

  4. I think it's important to note how much it costs to mine 1 bitcoin on average worldwide and how supply and demand will affect the price when it fails below the cost of mining 🙂

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