Sentiment and Market Psychology – Live Cryptocurrency Analysis with Bitcoin Trading Challenge

hey guys hope you're doing fantastic sand I thank you for joining me for another evening stream I've got a fantastic guest on tonight actually I need to click over I clicked on the wrong scene button joined tonight by Bitcoin trading challenge you guys know him from his YouTube channel is here to talk about us with about market sentiment and psychology some unique trade ideas and strategies so just hope that you guys are doing fantastic it is Wednesday January 9th 2019 and we've already got a sub hey Robert thanks for the sub on YouTube I'm sure that was all for mr. Bitcoin trading challenge so let's give a big shout out to Bennett I believe it is Bitcoin trading challenge how you doing this evening good good how are you Justin I'm good man I had a I had a day man I had a day was not able to do the morning live stream huh got got my internet all sorted away and now we're back up and rolling and looking to reopen positions on bit Mac so if you guys have any questions make sure to pop them in the chat as always hopefully it's working correctly I know that I can cry I can definitely see the chat over here but the restream has been a little iffy lately so let me guys know if you have any questions so Bennet let's start with you man tell us a little about yourself tell the viewers you know how you came to crypto what uh you know what your background is and and what you find interesting about the crypto currency markets sure so I started trading stocks with Charles Schwab about five six years ago he was just passive trading passive investing where I bought Amazon I bought Best Buy I bought some other stocks I just helped them like two or three years and I did okay in that but I just didn't really find it that interesting or really I couldn't I couldn't see myself doing that for a whole lot longer so what I ended up doing was I moved on to forex trading which is training USD USD JPY euro USD and I started scalping that and trading it on a much shorter time frame and I found that I enjoyed that a lot more and that's actually when I began to trade a little bit more sentiment and I had tools that showed me stop losses that show me where other traders limit orders were and it was just a really good beginning of more psychology sentiment trading and then about two years ago a little over two years ago I I came to crypto when Bitcoin was you know three three figures and the reason why I wanted to stay with crypto is just because the amount of is and what you find some interesting about the currency markets psychology and the amount of metrics that you can get for all coins and for Bitcoin so I stuck with that and I started the Bitcoin trading challenge you know title of my youtube by just trading with using very basic technical indicators and just posting my trades on YouTube and then I transition to doing more strategy and then I transition and doing a lot more sentiment and market psychology and I found that to be probably the most interesting part of crypto for me cool man well you know traditional kind of uh probably not the most here's the thing not the most a more traditional beginning to trading than the most people that I meet in the space most people that trade crypto are like I heard about Bitcoin on the news and I just went all-in and now I don't have a house so that's good to know that you do come from a background of traditional experience although you did you know you kind of started as I did with with traditional stocks and equities I never did value investing as you did and I think that you picked in the long in the long term you obviously picked a good basket of stock started to go wrong on on a lucky without one yeah quite a run-up big shout out to the two hundred and twenty one people hopefully I got that number right because I am terrible at counting that's why I have indicators to do it for me watching us crossed YouTube and to which of you guys have any questions make sure to post any questions in the chat I did go ahead they did say that they were having trouble hearing you so I jacked you hang up a little bit so hopefully that's uh can you guys hear me now yeah I jacked that gain up quite a bit man you're good to go now all right so let's you know I've really enjoyed your videos they've been very refreshing actually as opposed to most of what you're gonna see on YouTube and mostly what you're gonna see out there in the crypto space especially the cesspool the descriptive twitter where you're actually looking at unique ideas unique market psychology and not only that not only talking about them in a theoretical way but you actually you actually show individuals how to take these concepts that are fairly that are fairly novel at least as applied to cryptocurrency you know throughout the years I've been doing this for about a decade and I've seen nuanced approaches to sentiment I've seen nuanced approaches to just two different elements in the market that most people don't take into account and they're usually just presented in a theoretical fashion and when you actually attempt to like trade these methods out or to apply this new trading methodology it tends to fall flat on its face unfortunately or excuse me not unfortunately but as opposed to that you do full charting you show trade examples of how this can be profitable and you know just just being in your discord I know that a lot of people have taken some of your strategies and apply them in the markets today heck you know I do there's there's stuff that you've talked about that I didn't think about in a certain way and I've put that in as part of my analysis like you see the I got the I got n 59s sentiment indicator and my background here so so let's see Shep or Justin did we bottomed in Bitcoin or is a new low possible situation we'll get into the technical analysis and here here in a little bit guys personally right now if you want the long and the short of it I think the bitcoins looking quite bullish I think that we are retesting supply multiple times the one thing that that gets me a little bit right now is the longs to shorts ratios again I can pull up that actual sentiment data so Long's kind of are at an area where they do get throttled and they fall off a cliff but we're not seeing that strong reaction from a supply zone that we would normally want to see so I remained I still remain tentatively bullish because we haven't added that violent reaction that I would expect and this is our third test of a supply zone so but we'll get more into the technicals there so Bennet what have you been up to lately what are you working on right now and what's your current take on the markets if you want to go in that direction or if you just want to talk about kind of the new strategies and methods that you've been looking at so the recent obsession of mine in the market has been looking at bit mechs liquidations and looking at how we can plot where traders might be liquidated and then trying to place limit orders in spots where other tree might be liquidated you know this kind of strategy really is just taking direct advantage of other retail traders but I found that it can actually offer some really good buying and selling opportunities and I'm starting to experiment some different ways of how we can you know we're never going to know exactly where other traders are gonna be liquidated but we can begin to try to calculate and begin to try to you know put the puzzle pieces together with where in this price chart are a lot of traders likely be liquidated and where can i buy yourself from you know based off that data so you're looking to you're not looking to show up to the party late and leave early you're looking to be the first one at the door yeah because I find that some of the best buying and selling opportunities do come from other traders being forced out of their positions you know via locations right well as they are absolutely men that's I think there's a pretty good example that's one thing that I that I try to talk about and base my trading around is grabs for liquidity I mean you can see it very very clearly here this is the last trade that we actually took in in in the cracking crypto currency trading group as we saw this pool of liquidity open up right here we saw this grab for liquidity and we didn't see the reaction or excuse me the breakdown in this area that I'd like to see so we set buys in this area you know 39 42 39 80 and it's worked out for us pretty well yeah nice but your approach to that is a little different so you would have actually been looking to calculate this area potentially at let's say this period of consolidation right here so you're looking at this period of consolidation you're seeing a little bit of a bear flag form for example although I'm not a pattern trader and you would be calculating based off based off what you've just talked about looking at 25 50 and 100 X liquidation rates and calculating where are they at in the market and that's where you want to be setting your limit orders do I have that correct yeah that that is correct and really the easy part is trying to map where people be liquidated but the hardest part is to find where will highly leveraged traders be opening positions because you know if I knew exactly where a hundred x traders were opening then I could easily you know we could both easily calculate where they would be liquidated but the the tough part is trying to find those spots where they are and what I've found to be most helpful is to actually look at I know some people hate the one minute but I've actually found it helpful to look at one minute candlesticks because it can show us one minute volume spikes can show us where a lot of retail traders are potentially opening positions and then you can use that to map out where traders might be liquidated okay yeah that makes sense and you know I try to shy away from the 1-minute chart myself and you are right a lot of traders say – it's a lot of data but personally I trade I tend to trade on the 30 minute chart but there are multiple examples for example the only timeframe if you weren't in a trade for example if we go back and look at this we got to go back quite a little bit here but if we go back and look at this latest pretty big moon candle here in Bitcoin there was no time frame except for the five minute potentially the 15 minute where you would have been able to catch this trade where you would have seen a clear closure of of candles above a resistance level that would have been your only opportunity to catch this trade if you were looking on any other time frame the one hour the four hour the daily you missed it if there's no way you could have got it so how do you I guess my question for that is how do you determine based on liquidations so let's let's take it let's take a let's take a current example like let's go look at let's go look at the what's going on right now okay let's go back out to the one-hour term so how do you determine in your using this metric for example what is a what is a grab for liquidity that it would be confirming your directional bias and would be an attractive area of entry or an area where the market is genuinely gonna going to turn around so for example like say individuals are looking at this as a longing opportunity as I am for example the exact specifics of that we'll get to in a little bit if the upper traders are interested but so you have individuals that are looking at the market and they're saying okay well clearly we're ranging depending on you know whatever level you want to look at you know the the lagging span is in the cloud or you know just price is moving sideways we're not seeing a strong directional trend the pattern seems neutral it seems like a symmetrical pattern maybe it's a bear you know what people are looking at and saying in the chart right but clearly it's not moving in a strong direction at the moment and so they want to buy the breakout so they're gonna set by stops above this area which is also simultaneously where individuals are gonna have their stop losses placed who are going short you know directly above resistance directly above support so you're gonna have this pool of liquidity either shorts buying to exit their to exit their short trades or Long's by stopping into what they believe is a breakout so how do you how do you how do you fit your directional bias I guess around that metric to determine you know is this gonna be a breakout or is this gonna be a stop loss on a liquidity grab to a short side backsights that question right there it makes total sense that is one of the tougher questions to answer which is really if we have a high if we have some resistance when price reaches that resistance and goes beyond it is it a genuine uptrend or is this stop-loss on you know unfortunately there's no there's really no direct answer to it but there are some things I'd say two things for me to try to answer that will be one would be short timeframe tails so if you look at the one-minute or the five minute then you see a massive wick you know down down right below support you see massive wick right above resistance and price doesn't look like it's you know climbing the wick the price doesn't look like it's going in the direction of the wick sure then that can actually be a stop loss end or you know it could be a lot of liquidations and one thing that I've found to be helpful is if you go to tensor charts comm / you / bit max stats this is where I talked about it in my my most recent video it actually tells you where people have been liquidated in the past so you can look to see if you know if price goes right above a high and you see a lot of liquidations then that may be an indicator the price about to go down because it's already liquidated the traders right but if price goes are just above a high with a tail and doesn't have any liquidations well that could be a sign the price might continue to go higher until it reaches liquidations right if that makes sense so that's like the first part of the answer to is volatility if we see high volatility upward right above a high and then we see a low volatility period you know we're not really seeing much of a bullish reaction then in that kind of scenario I would expect price to have a hard time going up because of price was gonna go higher it probably would have already done some right there if if price breaks a high and just kind of consolidates for a bit and go slightly down that can be a sign of trapping longs at a market op or you know what the new high and then price begins to go down and potentially liquidate those Long's or you know stop hunters Long's debate the downtrend right yeah which would actually just fuel the downturn and that's why a lot of the time on bit Max and on some others you will actually see just before an uptrend you'll see a quick down move of liquidating the Long's of you know stopping on any long positions that a quick up move you can see that on the far left side of your of your chart on the 60-minute just before that massive uptrend on on January 6 you know you can actually see there's two wicks that go down and then price goes up you know ice consolidates goes down a little bit wicks then just shoots up you know so that is a common pattern that you're gonna see and you know vice-versa for a downtrend price is gonna go up and then down and it's so prevalent on bit mix too you know and this is something that you you see these things happen as somebody who's traded for X I mean Forex and having a background in trading Forex I think serves you quite well in trading cryptocurrency the reason why in my opinion is because when when you're dealing with Forex I mean this is this is pretty common knowledge but the ten largest forex traders are banks the largest amount of liquidity in the entire forex markets is pretty centralized so you're really you're really kind of a kind of a mouse you know running along the Giants Giants foot you don't I mean trying to trying to just get a piece of cheese and because of that I hate when people say that you know the markets are manipulated you know you have too many competing interests the markets are manipulated not when people think manipulation they're thinking that you know if you're a bank or something that you're seeing a different number flash on your screen or that if you right-click the chart some like you know Illuminati type you know order books gonna come up for you that's not the way it works it's just that if you're a bigger player the markets gonna move more suit definitely when you when you make when you make a play and that's just the reality of situation so it's kind of the job of retail traders really anybody with an account less than I would say five hundred thousand dollars to learn to move with the waves instead of because you're not gonna be able to move the market with five hundred thousand dollars so cryptocurrency moves quite the same way because you have a small number of extremely large players and in a small note in a massive number of small retail sorry see what it's doing the wrong thing and you see that but liquidity is a big issue because you see the same movements in in forex as you do in crypto but you don't see those insane tails on forex because there's just far much there's far more liquidity in the markets yeah one note I would make on on Forex where it actually differs a lot from crypto is counterparty in forex fortunately you know for any questions out there you guys probably already know this but a lot of you the trades that you're making are the other side of that trade is going to be banks and the other side of that trade is going to be maybe the market maker itself the exchange so when you buy the bank has to sell you know when you sell the bank has to buy so the the thing with that is that the bank's really want retail to not do well because if retail is buying at a very high rate than the bank's get to sell at a very very good rate and if no retail is going crazy selling you know the dollar to the end then banks get to buy that up and at a low price so with forex where it really differs from crypto I think is that counterparty and that's why that's a big reason why to stop trading forex I moved to crypto was I wanted the other side of my trade to be a retail trader or at least a bot right and not be a an institution or a banks because I know that that's just not gonna be a game I'm gonna win and that's one of the nice things about least in my opinion the bit Mex platform as well because you know there is no there's no longer shorts ratios in so far as you know ordered to order there's there's one short on the other side of your long so there you definitely know that there is there's there's almost certainly a person or as you but on the other side of the trade for certainly more likely about yeah yeah yeah more likely about and it just makes it it makes it more complicated it's not that you can't have it's not that there can't be a level of manipulation like like pit mechs for example having capital of their own that's being traded but in some fashion I'm sure that is occurring you know who you know who wouldn't but at the same time you can't it's not anything it comes down this is I guess my general response to people who complain or talk about manipulation is that okay so what let's let's say you're right okay how can I trade that information now can i trade that knowledge otherwise it's it's fairly it's fairly pointless rumination so okay interesting talking about the bit mechs liquidations so you talked about if you want to we can switch over if you want and you can actually share your screen and kind of break down some of what you were talking about you might know I think people you're gonna be able to elucidate it a little bit better than trying to point out on a screen you can't control um okay I'm gonna try to alright sure let me know when you can see it there we go you see it yeah right so what we're looking at here this is a a trading view chart but it's this site here that's tensor charts calm / you / bit next stats and this site over here this site actually gives us historical liquidation data and the way I like to use this is I talked about a previous video of mine that typically when a liquidation occurs price tends to bounce the other way so when you see moms getting liquidated at a low typically price is going to respond by moving back up and you know there's some pretty cool examples of that like here we can see that we had 1.3 million contracts of long that had gotten liquidated in price you know moved higher this was a price sale where price liquidated lots of traders right down here moved right back up green is where shorts are being liquidated you know Reds Long's and greenish shorts right here we actually had an opportunity where this one I think was the most interesting of the entire day so we had a prolonged period of consolidation and what's happening during this period of consolidation is some traders may be looking to go 50x 100x and you know just try to bet on price going down so some people did that and some people probably went about 50 X 100 X short at these you know prices here so when price went up to here trigger there liquidations of the number was four hundred fifty thousand you can see that number right where it says by solid liquidations so we had 450 thousand short liquidated then price goes down so I've actually found this to be a really good way to scalp if you want to scalp on bit max or if you want to scalp on any other exchange you know you can see here we had a 131 thousand contracts short they were liquidated and then press when town liquidated the lungs and then price went right back up you know and now price is still going up as you can see here but sometimes what I do is I like to look at this liquidation chart and then compare that to the trading view chart so if we go to 1618 on my trading view that is here so you can see that price went about from here to here price went about 0.75 percent higher liquidated the shorts and then any any long who tried to buy this because they thought it was high momentum prices get on the moon then they get liquidated as you can see right down here so this is the newer way that I've been treating the market which is to look for when traders are getting liquidated to try to take the other side of the trade but the reason I made the video for like calculating trying to find liquidation levels is sometimes when you see a liquidation happening it's already too late you know we want to be the one buying on this kind of price tool we want to be the ones selling you know on that price dale so we want to be the one who already set a predetermined limit order here to you know to sell and be the one who set a predetermined buy limit order here you know to buy and that's really what I've been looking into and doing some research on and trying to find ways to plot where traders traders will be liquidated and it's some pretty cool stuff good man do you want to do you want to cut to the to the end of the movie and let us know if there's uh there's any if you've come along in any way with that or if that's what you're actively working on yeah so this is what I've been working on and then newer stuff that I actually haven't featured on my youtube yet is not just doing this for Bitcoin but doing it for the other coins that that are offered in bin X and if I pull up TR X here it is so what I'm actually gonna be doing here and I don't know if you guys can see it I'm gonna switch this over to the bit Mex calculator I'm gonna try to you share alright yeah so do you see the bit Mex site right now yep great so we are at we're looking at tier X right now and the reason we're doing this is looking at liquidations of Bitcoin is great but another play you can make is to try to take advantage of liquidations on 88 on TRX on iOS and the way that I like to do that is TRX has max leverage of 20x so if you use BIM X you can only go 20 X so if I type that in here and what I like to do and what I did before was I went here and I saw okay if anyone bought at a price you know six this was number 669 or higher so if anyone bought at any of these prices where would they be liquidated so if anyone bought in this range basically what price would they be liquidated on maximum leverage and what I found you know to calculate that is I went to entry price I went to 669 and you can see that it gives me the liquidation price of where a lot of those t-rex Long's were actually liquidated at 6:53 so you can see where did price go down to price went exactly down to 653 to liquidate as many t-rex bonds as possible and I can draw the range that I that I found that from so what I'm showing here in this little rectangle is anyone who went 20x long on t-rex in this rectangular price range there from 6 6 9 up to 6 7 8 they were all liquidated on this price moved down and then what I found after that was you know naturally you'd expect some people to just go crazy in two short t-rex because they all thought it was gonna go lower and we can we can calculate that so anyone who let's say we can put any number in let's do 657 so you know 657 they will be liquidated at 6:41 oh let's go to short yeah 673 so can you see my trading view screen am i bit next screen right now can you see both no I can always see your trading view screen oh you just see my training view screen yeah but now do you see the bit next week yes I do awesome so what I'm typing in here and the reason I'm doing that is when you're you know looking to pick a direction to trade and you don't really know where you want to take profit this is where liquidations can come into play for setting your you know setting your take profit so this is saying that anyone who had shorted at 6:57 would be liquidated at 673 so we know that 673 might hold some liquidity you know around this area if price goes any higher it's gonna liquidate these traders from short at the bottom you know if anyone shorted the very bottom so let's say like 654 they would have been liquidated at 670 right here so basically what this is saying to me is in this range here if TRX does go to this level I'm expecting it's gonna probably go up and then come back down the reason it's gonna probably do that is you probably see a price tail up to here that's gonna liquidate some of these 20 extras we short at the bottom price is gonna go here and then in my consolidate and move down or it might even consolidate after these price sales and move up but I would expect this range right here is a good place for it to reverse if that makes sense for using t-rex and you know you can use this for any other if I go to ripple even maximum leverage available for ripple is 20 X so if I go to the X our pH 19 you know here I can see that ripple you know has really gone up a lot so I'm expecting that a lot of people may have may have bought this so if anyone had bought at let's say 95 80 even if anyone bought at 95 80 I can do that here point quadruple yeah 9 5 8 perfect everyone had bought at 0.09 5 8 they'll be liquidated nice or 120x leverage so I know that down yep down here we might have a good amount of liquidations and conveniently that's also just below you know this market low here so anyone who buys here it was gonna be liquidated here so that's just where my head's at you know I hope that wasn't like too confusing and needs kind of just rambling on no not at all you make sense with looking at liquidations and the reason why I like to look at this instead of just you know standard technical analysis standard indicators is I find I find that trading on the side of institutions trading on the side of traders who burn and look to hunt other retail traders is typically the right side you want to be on and this really is the ultimate way to counter trade retail so that's why I that's why I do it absolutely mint and I think just one thing I think that answers the question that I was asking this goes back to the original question of well if you're looking at an area how do you know it's gonna be a genuine breakout and what's gonna be a stop-loss hunt for liquidity you know to confirm to the opposite to the opposite movement at the end of the day what you've done is is basically the the extent of what you can do as a trader this was one of the first things that I guess one of the first mindset things that people struggled overcome is that all you can do as a trader is sharpen your skills and identify key areas where you would like to enter and then exit and then cut your risk and the market determines if you're profitable you know it's not it's not like you know in advance like okay it's like you just said like okay when price gets to this level it's either going to consolidate move down or consolidate potentially move up you know could even just consolidate move right and then you know kind of go up and down we don't know until it happens but what you've done successfully is identify a fairly key levels pockets of liquidity if you will and you guys better be buying Bitcoin right now look at that moving up on the 1-minute chart we're going to the moon is identify key levels of liquidity where there will definitely be action to be taken now whether that turns into a short scalp if you're actively monitoring the trade and you're able to capture profit you see a reversal that's fine you're already in good that's because you have already entered at the very top or the very bottom or darn near close to and what more can you ask for because when you're entering into a period of consolidation if you buy in the middle it makes it it makes it more difficult to actively manage your trade because you know most people buy into the very top of local peaks if most people short it to the valley of local Lowe's unfortunately so all right let me I want to engage with a chat a little bit here so can i you know stop share my screens and show your your beautiful chart yes all right cool let's engage with a chat a little bit you've got some fans as anthem is crypto hey what's going on mr. moderator thank you so much for modding for us let's see summit says the bits name sharpen the one minute has price gaps looks like high-frequency trading bots front-running people i don't know any ideas he's saying looks like the bitstamp chart has price gap so on the on the what what time do you say on the one with a chart yeah okay do you want to pull that up yeah sure let me go right over here i'm gonna actually have to select a one-minute chart because i don't look at it so we're looking at bitstamp BTC USD mmm-hmm i'm looking on my screen too with the one-minute so yeah i I see what's what's going on here and I think I'm gonna be able to answer this as this question the the the the comments are was asking why are there gaps in a woman a chart yeah well his summation he didn't his summation was that it's hft bots that are front running traders not not exactly a reason why a common reason why you're gonna see one minute gaps is because of just a liquid markets you know when you have the bid in the offer that are one penny away from each other price is not gonna have many gaps because the spread the bid-ask spread is so tight you know but on some other markets that aren't as liquid what you're actually going to see is been any offer aren't going to be right next to each other but the bid maybe down here you know the offer maybe up like here and then some of their time the offer might be here and that's really just what you get in an illiquid market so on bit Mex you're not going to see many gaps because every half dollar that you can place a bitter and offer ad is probably ugly or already gonna have offers there and bids there so I think the answer to that is just liquid it's it's no manipulation I think III agree with you I agree that he is right in a sense as far as so you basically just describe being front run by a bot that already had an order in there not necessarily a bot that was actively placing an order in there he's getting front run by existing limit orders that are already on the books that's not really front running you know I just wanted to make that clarification a difference yeah yeah I was answering the question of like why does the one-minute chart right this way but also unfortunately just like from an order book Sam Boyd yeah a lot of times with these in your liquid markets what's gonna happen is whenever you place a bid they're gonna place a bid just one pick up your bed yeah and that's just what the program to do not much you can really do about it and you can see the same thing too so right on my right on my right on my chart you can actually see the you know obviously I have the point of control pointed out and and what I guess the way that I would apply that or at least what comes to my mind when I look at this chart is that you know your traditional traders who are going to be using a technical analysis strategy on this timeframe for example and again they're gonna have to be moving fairly quickly so let's assume that their BOTS are programmed to this so that point of control is going to be fairly congruent with like a moving average crossover strategy so you can see that you know like when price crosses the point of control that is probably congruent with the moving average crossover as well prices crossing a moving average they're buying you see a lot of buying right here so you're not getting a lot of when retail retail is not putting in limit orders around this area if they're actively trading this range because they're just not going to be able to get you're right there's offers on the book so they're going to have to be market buying and when their market buying the ask is not going to be at the level at which they're looking at the price you know it's not going to the last traded price so that means that when retail does pile in on these movements you know it doesn't matter these are either you know you could look at this as if you're looking at the stochastic maybe the stochastic is crossing over quite wildly as it does when price is ranging if you're looking at a moving average strategy you know you're buying when price moves above the the moving average if you're selling when it goes below or if you just look at something like the point of control if you're trading the point of control you know you have a lot of BOTS piling in as price is moving above a certain key level because that's what they're trained to do that's how traders are trained as well when price moves up you know buy it now instead of what's your approach what's your approach is is you're trying to buy this tail right here you're trying to be like okay let me do some calculations I'm gonna put my buy right here good stuff all right uh let's see James Glenn hey what's going on man hope you're doing well tonight Lilli Stein she says happy trading I love Bennett he's such a stud all right you've got a shepherd keel Wilson shout-out to you guys hope you guys are doing fantastic tonight let's see here hey I Garza Asgard how what's going on man sounds good and 175 people over 300 now that's pretty good pretty good viewership tonight so chefs Shepherd to ask Justin did we bottomed in Bitcoin or is a new low possible I you said stit but I I don't I don't know what stit means I'm gonna assume you meant to type sir because people say that's me sometimes it's all good man yeah I am I'm actually short term bullish potentially depending on how Bitcoin closes above this distribution range this supply zone I might even become short term bullish I promise you as I've said before in the show I will not paint the inverted head and shoulders meme that is taking over the Internet I promise to not do that I'm not a pattern trader I have charted it out for you guys you've seen my conservative take profit targets in low volume nodes where I would like to be exiting my position I do think overall though next you know whether it's q1 whether it's q2 whether its q3 again I've done some time fractals for you guys looking at August of 2019 as an important area just based upon the length of previous bear markets and based upon the length of peak to trout the previous low excuse me of the previous high at the all-time high to the current low and also from the previous low to the previous high so I've done some time fractal dilation on that for you guys pointed out areas on the chart vertically that I think are important but I definitely do think that we end up breaking resist excuse me support at current currently at the 3100 AA level but we will wait and see I do have my eye on 23 31 point 86 cents that is the eighty eight point six Bonacci retracement of Bitcoin that's also where we bottomed in 2014 so it's also in the middle of the high volume node so let's see here getting through the chat a little bit more guys tried trading yet I'm here – oh that was Scott engaging Scott what's going on man moderator Chuck G says XRP shorts were all just liquidated oh really yeah maybe we could see that that was uh that was a while ago I don't have time stamps on this that was earlier in the chat cuz I wasn't looks like X repeats still a bit yeah interesting let's go look at so shorts liquidated I am looking at the 1-minute chart so okay so actually so let me pull up a chart X are pH 19 see if I can see what he's talking about oh well yeah of course they're of course they're liquidated cuz they tried to shorten the market right now yeah I'm pulling up right now on the minute but the hardest question really to ask is you know how much higher is price gonna go and I don't really have an answer for that but what I can tell you is what you want to find is heavy volume to the downside because that's going to tell you where a lot of those extra P shirts are entering so when you're looking about one minute chart where do you and what price do you think a lot of X or P shorts are entering yeah and you can clearly see it let me pull out my painting tool here clearly see I'm entering here you can clearly see I'm entering here trying to shore at the top of the market which they did not do I don't think I can see the screen because it's on a bit of a bit of a delay so what price do you think do you think a lot of people shorted at like 95 60 or like where do you think they yeah they began 95 eighty to ninety five six or excuse me I have it going down to 95 fifty yep and then again from 95 96 to 95 70 is where we see another another increase in the shorts as well see – oh no okay Oh are you looking at bitch next shorts I'm looking at XR pH 19 on bit max okay okay I thought okay so you say like yours you're thinking that a lot of shorts or entering at nine five nine six and nine five six to nine five nine six is that right mmm-hmm all right so I can actually share my screen and we can actually do a quick little fun calculation to see what what would actually happen sure yeah go ahead click over and then I can click yeah you push button yep there you go yep so we're looking at extra pee right now and you had told me you think nine five six is one of them so if you use 20x leverage maximum leverage and you try to short exit p at nine five six it's nine seven nine nine that is the price that those guys are gonna be liquidated that and nine seven nine nine I feel good deal higher that's like right up here mm-hmm I'm not saying that extra P is you know guaranteed to go higher what I am saying is that price reaches that 9800 level you might see a bit of a pullback as it liquidates some shorts let's go look at our higher timeframe see if we go ahead and do the you were gonna calculate another one I'm gonna give you I'm gonna give you two of them and you can draw a rectangle between them the first number like I said was nine seven nine nine as you can see and the second one nine five nine six got it the second higher number is nine eight three five so between the range of nine seven nine nine and nine 8:35 that's we're gonna see a lot of those 20x shorts liquidated who had shorted at the at the prices that you thought a lot of those bit next shorts may have been entering so that could be a potential just local top again that is not saying that price is going to go up to that level it means that if price does go up to 98 you might have a harder time moving higher because of liquidations that's interesting again you're on a little bit of a delay but that is resistance but that is that's our proof that's our previous swing high really you know well that's convenient for that's unfortunate for the extra P shorts who are trying to try to get that Lambo you know yeah we've actually had let me let me zoom back in time a little bit here and do a little bit of analysis see how strong the stubble is yeah this is this is a very clear level so that's interesting it's a very clear level because it was support on the movement down we got a nice reaction on that although we did wick much lower than it on it on an intraday timeframe but we got clear support on a closing basis from that level ended up closing down pulled back for a retest of it came down got clear rejection from it once twice let's see here yeah third time yep very strong area of supply right now so we are coming back up to retest that area of supply on very very very high volume as well so this would be our one two three four five this would be our sixth test of supply on higher volume than we've ever approached we've ever approached volume so not looking like a good case for the shorts who entered at that particular point in time most likely going to get liquidated at that key level definitely gonna get some play off at 9800 again we normally if the volume spike had occurred if we had if you would kind of crept up to it's slower and then we're in a period of consolidation then you could look for a volume spike at least in my experience my analysis to break through that level just like kind of like we saw with Bitcoin just just about a day ago but yeah I think we'll definitely get a reaction off that the key I guess the the level to be watching if you guys think that XRP is gonna break resistance or going to be gearing up for a good short is the violence of the rejection that we do get from that supply zone but keep in mind that the more times that you test supply or the more times that you test demand the weaker it gets yeah and I think that I want to be shocked to see you know that high at 98 98 20 on the one-hour chart of extra pH 19 let's see here I wouldn't I wouldn't be shocked if price went up to about 984 or 985 just to go slightly above a high and potentially you know liquidate some shorts and it stopped losses of shorts well that wouldn't shock me I just relied I just had to fix the screen so people were seeing you kind of maximized sorry about that guy okay so you guys weren't really what seeing what I was showing here but that's our you see your to see my face just see it just see him Ben hey which is which is cool for at least for Lily she's she is she's very pleased let's see let's continue the check yeah you know and that would also be a classic SFP setup where we are testing for it for a swing failure so let me make sure got a watch Krypto hey what's going on man Mr ether how are we doing this evening man sup are we gonna dip are we gonna dip I assume you're talking about Bitcoin yeah a play for liquidity is not out of the books yet but still looking at looking at fairly bullish sentiment my Kurt okay so my current setup was I grabbed liquidity play earlier I've already hit two of four short term scalping take profit targets so really on an intraday trade be out of the trade but I still have about 50% of Mike my position left open if we close an hourly candle below thirty nine seventy four it's gonna invalidate my trade and I'm gonna look to re-enter on a retest of the HIV M previous support excuse me previous resistance so we can see that level right here on my chart we can see this kind of red rectangle that I have not extended to the right but you can see very clearly what price reacts to that level so that that levels around the up the lower 3900 so 39 13 is the median of that actual range right there we do see wicks above it that is also fairly congruent with the horizontal level that needed to be broken – clearly – clearly and excuse me validate a breakout of the symmetrical formation again not a pattern trader so I don't take measured movements if I see a pattern I'll do Fibonacci extensions for take profit targets so they tend to be much more they tend to be much more valid for me so that's I guess that's my common gripe is that people will see this they'll be like God's we got one two three four uh oh that's that's five that's what most people would think they'll see this I know you can't you'll see it in a second benefit they'll see this touch or this non touch of the symmetrical triangle and they'll be like wow that's a touch I'm gonna count it that's five touches its valid let's go for it and they'll be like all right so I've been reading investopedia I've been I've been studying and I'm supposed to measure from the top to the bottom and then project that from the breakout point okay great okay bitcoins going to 4305 I find that that works like 10% of the time and when it does work the reaction that you get from those people is kind of like I don't know if you guys have ever worked in IT but anytime like like you've got four IT guys sitting around like trying solve something and everything they've tried like doesn't work you know if you've ever done any code like generally when you when you code you look at a screen and you're like it works but why or it doesn't work why you know that's that's my experience the code anyways anyways the IT guys reaction when they actually do solve something is kind of like I told you so I knew it I knew it all along I told you the measured movement work I find it much more I find it much better excuse me much more better to do a Fibonacci extension and you can see us you so you're you're negative one point two three six would have been a very nice take profit target for you as well as well as your negative three point eight two so when you're looking to take a break out in that fashion if you were watching and you saw this boom you had your take profit targets there as well if you were watching to enter into consolidation using Average True Range as I do to measure stop below the most recent swing low at least one eighty are below the swing low is generally where I set my stop unless I'm buying in the median in the consolidation zone and then I will use generally three point five but in that case I'm looking to I'm looking to buy at an extension of one to two xat are away a below price so just my little I guess my little tricks of the trade for playing ATR sorry let me get through the rest of the chat assess says if I'm decent I will I will dump a buy in hey what's what's going on man let's see ur Gabe Anderson hey thanks man I appreciate you watching us tonight man Seth Shepard says what's the minimum buy-in to be in the club I am basically Bitcoin like Quinn and aetherium dude there's no minimum buy-in to be into the club man this is not a backstreets poker game man it's just free content as far as is concerned fair lost was pointing some charts on BTC I don't want to open that up my my computer my crash that's gonna be rebalancing his assets over the next two days it's crypto gonna be up at least 10% this year most definitely I definitely believe that Justin what's my website Kraken cryptocurrency dot-com and I have oh by the way so I don't want to exclude this I have all of Bennett's links in the description down below I have his website his patreon is YouTube and his discord so make sure you guys go check that out his discord is a good source of information as his YouTube channel and if you want to support what he does make sure you check out his patreon and I believe you still do Skype call mentoring yes as far as your website goes so yeah so guys make sure you've never been make sure you guys hit him up if you want to get some more of his insight um let's see here wolf of crypto says TS January we are there right now and people asking if anyone's in a Tron trade uh well here's the thing about Tron the wonderful performer uh so Tron is moving Tron is Tron is okay hold on words words will come what sort of look important it's a buy the rumor sell the news event so Tron bought quote-unquote BitTorrent and they're doing a TRX airdrop they're you know so they're gonna be dropping their new BTS tokens on and not excuse me that's bitshares um what is the name of their new token I it's BTR or B Tia it's something like that I don't know the exact name of it but they're gonna be air dropping that token to TRX holders so there's been a pretty big run up on top of the fact that you know Tron just a popular according to trade and everything else has been going up as well recently but Tron definitely been a higher performer and we've taken a lot of TRX USD T trades we've taken some TRX h19 trades you do want to be cautious though we can go look at Tron I just did same with EOS you know we just this was actually our last EOS trade right here so Yas is good I always pronounce it yo Sai nobody knows man yes and after eath yeah I say I say earth maybe I say maybe it's maybe it maybe it is eath for eath cerium he third you know right right I don't really know that's a good one alright so TRX USD T again guys in this market right now I'm very hesitant about playing Bitcoin pairings the last so and I'll tell you why now there's no there's nothing wrong against Bitcoin pairings there's there's good times to trade all coins and Bitcoin pairings and there's bad times to trade all coins Bitcoin pairings typically when when Bitcoin goes sideways you're gonna see a lot of liquidity move into altcoins and I've talked about this reason before because traders intraday traders they need volatility and they need to see the market move this is what they do for a living they need to see the markets move so if bitcoin is doing nothing they're going to seek profits elsewhere because they're gonna move their BTC over to bananas they're gonna move it's a bit Finex or they're most likely if they're a professional trader they already have a pool of liquidity on those exchanges and so that's when you're generally gonna see enhanced volatility on these all coins however you do always have to go look over at Big Daddy Bitcoin when Bitcoin is trending fairly strongly what you will notice is that altcoins don't tend don't tend to trend as strongly they're a delayed effect actually Bennett you gave me a fantastic website for looking at correlations which is n roid and I have taken to looking at Android especially seeing how correlations flip and change over time so my personal strategy is that when Bitcoin is trending fairly strongly it is generally a good opportunity to buy altcoins that you have a directional bias to the long side because you can't go short on Finance if you're not trading all coin futures on a bit Mex platform or BitFenix because you then you can go short there but if you can only go long and you're on by Nance when Bitcoin is trending fairly strongly that is generally a good opportunity to buy dips on all coins that you think are going to have a good pot you know whether you have your fundamental reasons for entering to the trade whether you have your technical reasons for entering to the trade but those are the key opportunities that I've found because they tend to follow along with the pump because when bitcoins done trending it moves in the sideways consolidation for a little bit altcoins pump but if you're just looking for good overall trades USD T pairs can exhibit more much much safer trades because then you don't have to expose yourself to bitcoins volatility of depreciating eur/usd value of your portfolio whereas you know if you're trading if an altcoin is going sideways but bitcoin is moving up your USD value is more than likely increasing even if the altcoins going down a little bit it just depends on you know the percentages because your USD value is going up because you're gonna have less bit but bitcoins worth more money but with USD T it's generally say much safer much easier much much much less stressful to lock in the USD value of your portfolio at least to my experience so TRX USD T you kind of want to be cautious in this range again we are coming up on on our previous supplies no we've had one two three this is our fourth test of supply and we are looking to close above it on a four hour basis right now getting a lot of resistance this is just kind of an area where you definitely need to wait because the best-case scenario is we continue going up more than likely before we continue going up we need to consolidate and establish this new level as support before we start looking to take out previous as resistances I never like to long into resistance I never like to shorten to support has just kind of my base real strategy so TRX USD T could it have more legs does it have a lot of room to go is it a perfect short you kind of have to wait and it all depends on are we going to establish this new level of support do we find consolidation and continue moving upwards that is your signal and again that's probably one of the toughest things for traders in my experience to learn and understand and accept is the guys sometimes you just got to be patient and wait for confirmation you can open you can you can take a enter on candle open strategy if you want but be careful all right figure through the chat a little bit more Vlad can Russ as I have been looking at the liquidation bot all afternoon yeah assess separate says how do get how do we get range again I'm not sure what you mean by that man I wish I was sitting at your desk watching a trade live pockets the liquidity create range targets yes you know you can you can watch me sit at my desk trade live it's called my channel haha you know again I don't do what some people do so I don't stream my trades live there is a reason for that if you just search your soul and search your intelligence and search the American flag in the background of my screen it will come to you but you guys can you guys can obviously join the discord and I do show I do show my trades on that but I do my best to explain to you guys what I am doing mister Seifer X hey what's going on man and we had just talked about XRP right before I came on this stream hey don't worry man we do got that we do got a longer term set up for that so fret not my friend Caribbean crypto show what's going on man late but I'm here I'm glad you came man let's see here ss Shepherd says you've missed a lot don't worry there's always that rewind feature Johnny bull says 22% move on XRP with a symmetrical triangle parker says aetherium classic actually says 'hey TC TC TC we had talked do you have any do you know anything about that it's not really a huge amazing like wonderful topic that I really care a lot about if you're in classic was 51% attacked I don't know we had kind of talked about fundamentals of coins and if you have any opinions or comments I don't really have any opinions on aetherium classic I'm gonna asked about that like one etc' yeah so it was 51% attack again the dev team is saying that they weren't 51% attack but it was just mining greedy miners listen man like their their development team quit I used to really really like aetherium classic I thought I thought it was their my fundamental case for aetherium classical was that when aetherium moved to proof of stake you were going to have a lot of miners that are mining aetherium that don't have a lot of the options for their GPU mining and have invested that thousands you know like maybe hundreds of thousands of dollars into Riggs they're going to need a new ASIC resistant or least slightly ASIC resistant nothing is really a sikh resistant a blockchain of mine and i and i assumed that they would move over to aetherium classic but the bear market hit aetherium classic as it did steam it steam it obviously had to lay off a lot of people a lot of developers that's why we've seen a decline in the steam at platform a platform I used to love and still post on and yeah theorem classic unfortunately going the way of the dinosaur is there a potential for it to be read to be resurrected again it's just open source code guys if you you know one of the interesting things about cryptocurrency is that there is not a whole lot that's gone to zero as long as exchange is listed there are hundreds of crypto currencies that are four or five six years old their github has not been touched and like I don't know ever and uh and they continue to they continue to be traded on KU coin or all markets or whatever I mean lazier 10th redundant uh crypto red I says liquidity baby where do you think this pump is coming from buyers most likely buyers I guess yeah Bennett you have any thoughts on that people a lot of people are commenting on on XR no on XRP pumping Oh shifting gears and extra P I had something ready for aetherium classic oh sure go ahead me okay I'll share my screen again just to show you guys my my headset and I'm gonna be featuring I think you talked about this before but this is VC do / Korn / theorem classic and what this site does I made some videos on this you can check it on my channel it combines the bids and offers or any coin in the market it combines exchanges rates for that it's you just one source for bids and offers so combine bids and offers and well you can actually see here on a theory of classic is we've had a prolonged period where the offers meaning the limit sell orders have been higher than the limit buy orders and currently on the one day you can see that the difference between the offers and a bids is nine point zero five percent which means basically that selling pressure is about nine percent higher than buying pressure and it's been like that for a bit so I wouldn't be shocked to see et Cie I'm gonna pull this guy up here I want to be shocked to see et Cie continue to do what it's doing no I don't I don't know if it's gonna continue its downtrend this is a high volatility move and then a period of consolidation so would not be shocked of this happening or even like a fake out and then this happening I think if there's any reason for me to buy this what up what I would have to see is the market depth improving so I would need to see this red line going down meaning the limit sellers are weakening and I would need to see this Green Line go up meaning that the buy orders are strengthening but until I see some more buying but before until I see or buy orders coming into e.t.c I don't really have much reason to be bullish on etc' at the MoMA so that is a rough-looking MDR man yeah naughty like literally like one molecule of green in there you know yeah this this was the one time that's saying hey you know terrible and 10 p.m. est January 7th so January 7th 10 p.m. est I don't even know if that would've been a good time to be honest that would be to be around here yeah this whole thing just doesn't look great yeah until this goes really green I don't see any reason to buy this yeah you know I think the only reason why this might go up is because of its correlation to Bitcoin Bitcoin pumps et Cie might be like okay you're popping off pump as well right Oh at the very least the USD value would go up on people's etherium classic holdings because again then their underlying asset or their their counterparty asset is increasing in USD value you know it all goes back to BTC movements this is and you were asking about extra P about extra P pumping again yeah a lot of a lot of people talking about XR p pumping alright let me go to my hand one one-minute chart so it doesn't really look like we have a volume spike yet do you see any major chain volume yet only on the you know only on the hourly chart and if you look at if you if you look at the hourly chart obviously you know you can see that yeah a lot of on the hourly chart what might potentially be a local top retest of a previous high not all the way up to the range high yet excuse me the swing high you have to test that range high which would be the third peak over there as well yeah in the Fibonacci looks like we're in that sixty one point eight some I think that if price does go higher like like you and I both said I think that this is the this is the area where it might see some yes 9800 level yes yeah um but right now I'm also gonna take a look at the finance rate because you know that has a large amount of volume I'm not really seeing a major you know change in volume yet I'm not seeing on the one the one minute a major volume spike like a volume spike that you actually might want to worry about just for the viewers here is something like this so when you see this massive volume spike on the one minute of X or PB to C on Finance with a tail this price went down about not a lot like one and a half percent and it went down until another volume spike occurred right here so volume spiked when a lot of sellers had likely sold XRP right here and price went right back up we even had a high momentum volume spike price went down price continues to go up and I wouldn't be shocked to see price continued to go a little bit higher until I see a major volume spike or change in volume I'm not really gonna be bearish on extra P yet I don't really see any reason to be bearish yet I think that maybe if we get a close below previous resistances here so if I if I see closed below this level here then yeah that's pretty bearish because that's showing that this previous resistance is not being respected as support which means the price could continue going lower yeah yeah I kind of I'm looking at the here let me flip over real quick if you want to exit your screen sure for just a minute give it to you do you boom excellent here's what I see with XR P and it's kind of similar to my analysis of Bitcoin honestly if I just have to be honest and look at the chart I'm looking at the three day now on buy Nance and here's what here's what comes out to me obviously price is trading above the local point of control bullish you know meaning you know it's quite the same strategy this is just your traditional indicator for bullishness it doesn't matter whether you're using the point of control in the fashion that I'm using the porn in control it doesn't really matter if you're using the issue moku cloud it doesn't really matter if you're using some kind of crossover strategy if you're using RSI above a certain level doesn't doesn't really matter it's just your traditional technical indicator of bullishness is price above a certain level that means it's trending up or more bullish is it below a certain level if so then it's more bearish or trending downwards I see that we kind of the same thing with the with the analysis of Bitcoin that I did earlier and my reasons in justice occasions for looking at that as well we do see that price obviously put in a low here we put in a high or low and now we are consolidating at a level of supply we've had one two three four five major tests of this supply zone and the reaction to a supply zone again if we go back and compare this to the reaction of Bitcoin to the $6,000 level we see quite the same thing we come down and test it we get quite a violent reaction the first time that we came down to 6k we moved all the way up to I believe twelve or maybe even a little bit higher we come back and retested it we went up as high as nine came back and retested it went to seven came back you know and so on and so forth every time that we hit that that supply zone or excuse me that demand zone it becomes weaker and the reaction is weaker until eventually in this case in that case excuse me supply overtook demand and we move down to the downside in this case what I'm seeing is a potential example of demand overcoming supply because we put in we have a quiet we have quite a violent reaction to the to the supply zone we've come back and up we've come we've came back up and retested the demitted the supply zone put in a higher low retested the supply zone put in a even higher low retested the supply zone and are now putting in a higher low yet and consolidating right at that level of resistance I don't really see a whole lot holding this thing back and also if you look at the volume profile you can see that we are right at the top of the hvn what is above us lb in territory kind of the analysis and I know that you've touched on the volume profile a lot but the way that I talk about the the way that I talk about the volume profile is HV ends our train stations and what do trains like to do in train stations I like to hang out talk with other trains you know maybe get a car wash you know what I mean and lVN's or low volume notes our train tracks and what it trains do on train tracks they just blow on through man yeah so yeah so that's that's kind of it's kind of what I'm looking for for XRP at least in my mind looking at looking at the three day chart on Finance now this can all turn on a dime the coin breaks resistance right here excuse me Bitcoin gets rejection from resistance starts moving back down toward 3k everybody on the New York Stock Exchange ARCA start screaming sell sell sell and you know the potential bull run of 2019 is over so for those of you sitting on the sidelines if you're not in strong positions right now again not really the time to be opening up in my opinion strong directional positions we do need to wait for confirmation looking at the higher time frames on a lot of these coins as well as always make sure that you're trading safely and whatever you're doing make sure that you know the risk of trading and that you are not making poor trading decisions all right let me see here you have any comments on XRP I don't know on extra P not that I I think I agree with a lot of your analysis I do have a comment on xbt you know the the most important of all the coins yeah definitely and one thing I want to show and it does relate to liquidity so I'm going to share my screen and we're gonna pull off the extra PPT xbt USD and I'm not gonna be using the one-minute let's go to the 1-hour so what I wanted to look at here was what we want to think it's to try to take more of a psychological approach to this is where do we think a lot of stop losses are going to be and what's going to happen if price begins to tap one stop-loss so when price makes a series of higher lows like this you know we have a low here we go bit higher higher here higher yet one thing the connection and here's well one thing that can happen is beneath each one of these lows that I've just strong traders might be placing stop losses so what I wouldn't be shocked to see on X bTW I'm not saying price is gonna go down but if price begins to trigger some of these stop losses that could cascade like this you know whether that's a price tail when we get a very low price tail that that goes down that could occur or we could get hide downward momentum if price begins to come this way but whenever I see this kind of pattern of higher lows and higher lows that's telling me that not a lot of Long's are getting stopped out and if not a lot of logs are getting stopped out and that means that there's a lot of liquidity to the downside so that's just one thing that's I want to look at here for X BT you're heard of here alive guys tighten up those stops you you definitely want your first you want to be the first one having your stop it you don't want to be the last one having your stop let's stop it so I think I think placing your stop-loss like here's a pretty terrible idea personally I think that price could just cascaded a lot of these stops so maybe you know tighter stop versus like a looser stop oh yeah mine's actually at thirty nine seventy four so right and so you you would be hit like if we did have what I was talking about happen where we get a price still down to here you know you wouldn't you wouldn't have much of an issue at all you know have like a loss you wouldn't be the last guy who sells down to here to some lucky buyer at previous resistance no yeah and that's actually exactly where you have your cursor so 3918 3908 and 3904 i have by order set for a second for a secondary test of that resistance so it actually if you scroll back to your if you just scroll your mouse wheel down a little bit and zoom out just a tick like that yep you can actually see it so right there you can actually see that triple test of that resistance yep right there right where you're at yep kind of that area that I'm looking to target that previous resistance zone that was respected as resistance on the second pass through and hasn't been tested as a support level yet yeah and another thing that I like to look at as well is have you talked about bas on your stream you know been asked some yep I've talked about it I cannot verify how well people follow the information so let's hear it let's hear it from the guy who brought us the BIS so for those who don't know what bas is what we're looking at is the summation of beds in the summation of offers so this red line that you see is all of the limit sell orders that are added together within one percent of the last traded price so last year depressions four thousand then this is gonna give me all offers from forty forty down to four thousand and bids wise this is going to give me all bids from 3962 four thousand if price was at four thousand as an example so what I like to do when I look at this is look at three different exchanges not just you know look at one and just call it done I like to look at bit phonetics I like to look at bit max I also like to look at coinbase and what I tend to like to do is go to the 5% you can see here and if you just type in bid ask some on the internet it should pop up right away but this isn't like if you would like to have it so if we zoom out to the seven-day and look at bit max you could actually see here was appeared where the bids were much higher than the offers Green is higher than red this would have been a pretty good time to buy because a lot of other traders are trying to buy as well now we don't want to just look at bit max if I went over to coinbase lets go take a look at how the bids and offers we're looking there lots of bids here you know at this point in time before the pump and then if we go to bid for NEX which means gonna pop up here you can still see more bids here than offers at one point in time we had eleven point seven million dollars trying to buy Bitcoin and seven point six seven million dollars trying to sell Bitcoin so basically what I'm what I'm showing you guys here is on three differing this period of consolidation the bids were higher than the offers and typically when that happens typically price is going to move up so currently what we're looking at now focus on the far right side of the chart you can see that we do have bids that are beginning to climb which is typically a bullish sign if we look at bit Mex look here we still have bids that are higher than offers and if we go to coinbase for our final check we have them about equal so basically I would say that we're going to the moon there's currently more buying pressure from bas than selling pressure take that no as you will but that does tell me that price is likely to continue to consolidate just continue to go sideways or may go a little bit higher because of the high bidding pressure now one of the things that I'm that I'm come well that I commonly ask myself so I'm curious to get your opinion on it so how do you correlate the bid ask some with where the market is directionally so for example if the market is resting on support and clearly we see that the BET ask some is pretty is going fairly wild with bids higher than then asks then clearly that is a good time to be buying in the market because we're at support we're at supply or excuse me we're at demand and we see that demand is rising if we're at a resistance level and we clearly see that asks are rising higher than bids well clearly we're at supply and supply is rising it you know incrementally higher than then demand so this is clearly a good time to sell but like for example what what other what else do you read into like let's take current price current price looks like it might be at a local high you know we're at a level of resistance you know or close to a level of resistance again a lot of people are talking about this in a lot of different ways a lot of people are talking you know and again as I have on my chart that is sending trendline we're you know right at that level right below the descending trendline right right in the proximity of a previous supply zone that $4,000 psychological resistance again I know that you like round numbers as well when you're looking at psychological resistance but we do see the bid-ask some going up but we're on kind of the consolidation after a fairly strong up thrust on low volume so is that does any of that kind of play in what you know what do you kind of pull from that or take from that yeah of course we don't want to just look at it ask some cuz I would be not the best idea we always want to look at other indicators as well and other kinds of strategies one thing that I think may happen soon is let me just highlight this range low and let me just highlight this range high I wouldn't be shocked to see price do this price hits the high or goes right above the high and then comes right back down it's just below the low before going back up you know I wouldn't be shocked to see some people call this range expansion I think I wouldn't be shocked to see the range kind of expand in this way where we have stop losses getting hit where price goes a little bit lower triggers the long stop-loss is before going up or price goes a little bit higher triggers the short stop losses before moving up I wouldn't be so shocked to see that and if this is incorrect or like if this is invalidated let's say the price instead goes up to here right and it doesn't look like it's gonna be a stop-loss hunt then what may happen is if price goes on genuine demand very high what you may see as price then slowly go down to here to test the previous level of resistance here and if price goes any lower that's a very bad sign that's showing us this previous level of resistance is not holding and that price will likely go lower but if this previous level of resistance holds after you know price goes up and retested then this is typically what occurs so to answer your question I would say the first thing that I would expect is stop-loss on and just a grab for liquidity would it be shocked to see that and the second would be if we get a high momentum up thrust or a high momentum you know down thrust then I would need to see that retested and then I would say all right price is likely to continue going down or with this kind of pattern I just drew prices likely to continue going up so that would be my answer to that let's say we have a question if I could read one trading book what what should it be I would say have you read Grimes art and science of technical analysis I have not read it it's in my database actually but I haven't read it that is a good book it is a very very good book I would I made a video on like top trading books to read I recommend that book and also I'd recommend I actually advocate reading psych psychology books like Malcolm Gladwell or other kinds of behavioral economics books I found those to be really helpful too yeah and that's kind of how I came up with my ideas for my videos definitely let's see if I had if I had to recommend one book it probably would be Tom demarks the new science of tactical analysis that's well that's what really that was the first technical analysis book I read so hashtag bias and although I don't use a lot of Tom demarks methods anymore they you know I still they're still obviously implanted in my head so I still on you know look at the markets kind of you know frame by what I first read you know being a young adult you know I still you know I the first indicator that I really cut my teeth on was TD sequential before tone days made a popular I have a full video on T V sequentially you guys can go check that out I've traded it for a long long long time and traditional equities thanks it I still think it works quite well I've gotten away from it just due to the success that I've had in my own style of trading let's see hey uragan Ernst thanks for joining us so late man what's going on to you my friend what's going on family so let me take a look at this JPEG I'm gonna hope it I'm gonna I'm just gonna hope that it doesn't break my computer someone had asked what's that book again it's answer you Daniel de Lyonne book I was talking about was the art and science of technical analysis by Adam Grimes yeah and I think Justin what was the book you mentioned again Tom demarks the new science of technical analysis yeah yeah I think someone in chat I just I just mention that – all right Jurgen says TRX up Ont up V chain running and now XRP it's like the it's like the the quad basket of of you know it's kind of like that's kind of like the what's the word I'm looking for Ted no no I'm trying to make like I school analogy you know like you got you got Bitcoin that's like you know like the jock you've got a theorem that's kind of like the nerd and then you've got like the cool kids over there you know like the edgy kids like Tron V chain Ripple ontology you know the man like you think XMR would be the kid offering you drugs yeah yeah XMR would definitely be the shady kid you know who wears a trench coat to school let's see crypto red I says do you think Russia will pump that and billion dollars in the Bitcoin ask I don't know yeah you know what what's interesting is that they're they're I think I I hope I know what you're referencing here because I read that on the news I think that came out yesterday that that there was a Russian economist that put out a report yesterday and this dude's like you know straight up like you know on on the list to get assassinated by by the ministry because he does work for the government so if he says the wrong thing you know Putin's definitely send the hit squad after him he had talked about how based on based because of United States sanctions and UN sanctions what is likely to happen is that Russia will adopt a crypto currency style economy look at the massive amount of buying that has actually occurred of crypto currencies from places like Venezuela and Argentina any place that is hit hard economically people talk about when let me diverge here for just a second talk about the fundamentals of Bitcoin and why I personally am bullish on it on its use case is because most individuals who live in first world countries are quite comfortable speculating in price you know as I say this I sit in a heated house you know in a nice community with you know an expensive computer set in front of me you know streaming with you know streaming with somebody across the internet I don't really have to worry about you know food or economic sanctions or any of that kind of stuff countries that countries that do have to worry about these kind of things have a genuine use case for cryptocurrency and we're already starting to see small-ass so we're gonna see that you know it's gonna it's gonna reach from the third world in words instead of the first world outwards the technology was developed in the first world I think it will be first adopted on a large scale in in from the third world in because these countries have genuine use cases because their governments do censor their payments their their government fiat currency is fairly valueless it is depreciating much faster than the United States dollar you know it took us a century to reach 95% depreciation as opposed to Bitcoin got there in a year and and but if you look at the you know if you look at Venezuela scripta not their cryptocurrency but if you look at Venezuela's currency if you look at how a lot of these countries how their governments run there is a genuine use case for a currency that is that is government hard that is censorship proof that is resistant to attack and that can be physically secured as opposed to as opposed to some other currencies and you know they're you know not a lot of options for visa payments in Venezuela last time I checked so and this you know not not a stab on anybody that's in those countries I genuinely feel for the problems that they are going through with the government but can compare that to the use cases that Bitcoin has in first world countries where we're fairly secure using Visa MasterCard et cetera but then look at what's happening in first dorth countries with issues like political censorship and this doesn't matter on what side of the political spectrum that you're on so I'm sure a lot of you are aware with with what's going on with patreon with like Jordan Peterson and sargon of akkad for example where you know and patreon has basically blocked payments to these people because they disagree politically with what they're saying Twitter has engaged in this kind of campaign a lot to where the you know kind of Twitter doesn't like what you say politically that they will actually shadow ban you YouTube does the same thing you know a lot of people have been taking off YouTube for you know speaking their mind or talking about stuff and it doesn't matter whether you agree with them or you don't but you're actually seeing individuals get censured for having certain beliefs and if you want to vote with your wallet if you want to support content creators for example like say for example you wanted to support what I'm doing or what Bennett's doing you wanted to support his channel you wanted to support my channel and you wanted to send us some some some PayPal or support us both on patreon and patreon decides you know what we think this cryptocurrency is kind of like some Russian mafia stuff so we're not gonna let you pay Bennett we're not gonna let you pay Justin okay well how can you support us you know we could give you our bank account numbers you could try to wire us money how expensive and inefficient with a B or I can just give you my Bitcoin wallet address in about 10 minutes boom I got the money and I can do what I need with it there is growing a real world use case and I also don't buy the Bitcoin is in the store a value argument the reason why is because yes we went down 85% we also went up over a thousand so I think and you have to look at the fundamentals of why bitcoin is a store of value it's very hard to steal if you secure you if you have proper OPSEC it's impossible to duplicate it's a possible to counterfeit there's a fixed supply and assuming the blockchain network doesn't go or go down your Bitcoin is always going to be around all you have to worry about his proper OPSEC so uh again not I know not your area of expertise but any you know any thoughts or comments er yeah on worldwide use world worldwide adoption you know man I am NOT well versed in the like fundamentals and the I think you know like leagues more than I do about you know what's happening in in third world countries and what's happening in first world countries with with adoption because some national currencies are being devalued to a point that they're useless so people look for accepting and sending crypto and and you know from that standpoint I think that besides the volatility of Bitcoin I think that it is a really good standalone way for people to to make transactions to one another if their national currency just completely you know gets inflated I think that bitcoin is a way you could circumvent that inflation and then institute a new currency but that is you know I don't think that's gonna happen in the US for some time but third more countries I think it is interesting to see when those currencies you know make some crazy moves what other people do and one of the people go to you know barter system or Bitcoin or genic yeah well the the yeah exactly the like for example the Venezuelan currency like one one end cash I believe if I can't remember the support one it was either nano or n cash but like one of them was twice a month salary in in that country hold on a second hey what's up man you talking to me here you know I'm actually sorry I had one of my analysts was calling me so I was just seeing Oh I'm live on the air with Bitcoin trading challenge did I mean to have to open no I was just I was just kind of editing the previous one oh yeah that's the that's the play for a lid that's yes oh yes I do yes I do oh yeah I'll hop in there as soon as I'm done with the streaming update okay play bro uh epistemic crisis says hi by the way oh hi that's uh that's Alex all right um let's see here dunt dunt dunt uh i was keeping up with a chat shoot there's so much chat really what do we miss Jack Lee says hi Justin thanks heaps for this I'm glad to be a part of your community well Jack Lee thanks for joining man thanks for watching the show man haven't seen you in here before but highly appreciated man do I need to have my TRX and a TRX wallet or can I leave it in coin spot to get the drop I'm not really sure I I don't really know let's find out together let's go to DuckDuckGo we'll coin spots honor the TRX airdrop see what we get yo s TRX and icx token SWAT support at coin spot let's see here so that's 2018 Tron main app launch if I don't find the information in this I won't take up too much of the stream I will research it and I will post the answer in the general discord yes this is just about the transfer when TRX had that main that update on in June I'm not sure cuz I don't even know what the name of the new TRX token is what is the TRX airdrop token tell me Internet maybe it let me type in BitTorrent confirms to free bit so it's BTT BitTorrent token that's a that's not a catchy name look I'll look into this for you man and I will I'll put the information in my general channel on my discord if I can find out if I can find out Tirana has been going up since the beginning December yes of course it is I love that XRP TRX pair you know that's an that's an element and actually Bennett you're pretty good at this I'm not much for the triangular arbitrage for trading back and forth between pairs I have I have a friend that had that's played around with a little bit of capital on a bot that does this but as far as manually trading it's it's just not super my cup of tea I think you really and maybe correct me where I'm wrong but you really do need if you wanted like make this a a more permanent strategy you really need to have in my opinion something something automated to be to be doing this it's quite difficult to pull off manually it's it's quite difficult to just doing yourself you know just on the exchange but I was able to do it and some others that I had mentored were able to do it as well okay you know it took a lot one issue was actually the math to because when you're dealing with triangular arbitrage you know if you get any of that math wrong then you could be buying or selling at bad rates and then you could just be repeating that over and over again for a loss you know and then you just keep losing money when you actually think you're making money from your calculation and it's definitely not something I'd recommend for any he's trying to get into crypto but if you've been in a crypto for a bit and you want to like you know play on the next level or try out a triangular arbitrage basically what it is and how it's different than just exchange arbitrage most arbitrage is just taking one coin and trying to send it to another exchange based on the difference in price between those two points but triangle arbitrage is a little bit different and I made a few videos on this but what one example of it is if we're looking at the pair hota and then we're looking at the pair h.o.t BTC that's a coin traded to F or F or whatever and that's a coin traded to BTC and sometimes there's going to be discrepancies between those two prices in between those two coins parity value and what you can actually do is watch the F BTC rate I feel like this would be a lot of use everybody to share my screen so I'm yeah yeah like show it like try to say it is his heart triangular arbitrage is like hard enough let me go to what we have here is a chhoti BTC / f BTC and this is how you do triangular arbitrage so we have h OT PT c / fpdc in that blue line that you see is a chart EF so whenever h.o.t f is beyond the bounds of h OT PT c / f PT see there's an arbitrage opportunity so right here for example you may wonder okay this is kind of confusing like what do i do how do i profit off this what you could have actually done in this exact scenario is by h.o.t BTC immediately then after you buy a trip to PTC at this point here you can sell that h OT when you bought using the BTC pair back to F so you would buy HTTP to see you would sell into your TF and you convert that ass back into BTC using the F PTC rate and the amount of money you would make would be here it would have been about a point 98% arbitrage profit after fees probably about 0.8 points point seven five two point eight percent but this is a way you can trade by looking at whenever this goes out side to bounds you can profit off that using arbitrage and if this doesn't make sense which I mean it's kind of tough to to show this to in like two minutes I recommend you guys just go check out triangular arbitrage on my channel and it hopefully makes a little more sense there but long story short yeah you can still do it on your own but you know not the level you can do it with a bot so obviously can you do this I don't know with a bot probably yeah definitely with a bot I mean that's a that's literally a one minute timeframe to go from one currency to another currency to another currency yeah I know that I do know that there are some people that do this not not just in cryptocurrency and and you know and other and other things as well but it's it's it's a profitable strategy and cryptocurrency I've seen it get a lot of covers that's why I was kind of excited that I did see you catch that do gotta give a big shout out you're probably already gone man but Seth Shepard says my Iowa Hawkeye start in five minutes I got a rep that Hawkeye pride I saw that comment in the chat well then it was talking and I about went off and put on all my Hawkeye gear man yes so go Hawks ma'am I am missing the game but it's alright I will I will rewatch it here in a little bit I will check it out huge Hawkeye span man absolutely I'm a Wolverine let's go let's go Michigan let's not okay so guys I'm sorry we're gonna have to end the stream early and you can Michigan will read fans out there yeah alright let's see here he says he'll check out the web sites tomorrow I learned new things today hey that is why I do this man have we covered ad yet no not a traditional show just kind of kind of talking about more deeper strategy and psychology stuff so no I haven't done an analysis of Aida if I find some time which as the clock ticks down we've got about 25 minutes left in the stream probably not gonna be able to but if I get a chance I definitely will Makakilo kid finally caught you live awesome hey glad you could catch me man glad to catch you too Vlad can ro says yeah that would be me with 300 rigs warming up the warehouse right now referring to the mining when we were talking about mining yes no listen guys I'm not hard to catch live I've had some internet issues for the last week I'm normally here every morning 11 a.m. Central Standard Time noon on the eastern seaboard we are looking at adding some new shows on the stream we've done some test runs with them I just want to make sure that their bandwidth is ok so hopefully I've got the Internet issue fixed on my end also just you know near to the holidays I've got a big family you know got a kid you know just needed to take a little bit of a sabbatical and breathe a little bit you know cuz it's every morning 11 a.m. and I'm up at 5 o'clock in the morning every morning fast and run cold shower and I hit the markets do my own trading then I then I update all the premium members with all the trade trades that I'm taking recommendations work on webinars work on mentorship talk to people you know update the database try to read something try to catch ben shapiro and then i did this show you know so welcome to my life let's see it yes I love it though man I like not having to punch the time clock so whatever I got to do as hard as I got a grind I'm gonna continue to do it the portal 434 says great life thank you so much man Johnny bull says you guys need to do this together more often ASAP liking it definitely he's definitely one of the he's definitely okay that's gonna make the other guests feel bad I highly enjoy having Bennett you're very knowledgeable intelligent and I think the I think the fans are enjoying the show as well power to achieve cess oh my dear Lord da Vinci J predicted an altcoin bull run this month has he predict as he predicted the previous crypto borer in 2017 here's the thing man I don't wanna I don't cached on people that's not what I do I know who you're talking about I've never watched any of his videos but I will just tell you this man it's easy to say it's easy to say that something's gonna happen and when it's right be like I told you so mad of course yeah whereas you know and I'm not saying that I'm any better but I'm here every morning and I tell you guys like what trades that I'm taking I tell you guys my take on the market and sometimes shocker I'm wrong you know and you know and I'll tell you the day guys here is my idea here is my motivation behind the idea and guess what the market just kicked me right in the teeth and that's okay because if you look over here here and here this is the goal I was right so overall I close the day with a profit congratulations I'll see you guys tomorrow whereas I don't find that many of these like quote unquote Oracle's who you know kind of tie themselves to like this is going to happen on December 29th 2022 the world will tremble and then when it doesn't tremble they're like I meant 2021 they can't just say like my bad I was wrong let's move on that's the problem so not casting any shade on him he could have the holy grail figured out man but he'd probably be living in Vienna right now with a beautiful setup and not making YouTube videos just like if tone bass could actually successfully trade the TD sequential system he would most likely be rich somewhere in Antwerp Porto 434 thanks so much for the sub on YouTube in short-term run-up then big drop blue horseshoes I'm not sure I don't know what their needs met blue horseshoe loves anacott steel icx not sure what that means it's a secret okay secret yes yes Geoff handsome what's going on man do you do you know is that just speculating all right pumping yeah pump incoming Tom to Mark's new science a tickle well yes so sorry I'm trying to catch up with a chat man you're gonna says I hang with some shady gets to do you guys think poon DX will be able to make an impact with its new phone coming out this year or is it Tunisia yeah I think it's I think it's a little too neesh and and listen poon DX terrible branding you know not not a good name now they're launching their own token because they're launching a new token because they couldn't get enough liquidity on npx s and P X s just did just have a nice bullish play you know I saw a lot of chatter about MP XS I didn't like it was too uh too risky of a trade for me just based on the the would I trade the amounts that I trade I could have gotten in with like a couple thousand dollar play but there's just the the liquidity really wasn't there for that coin and again things like I will I will see good trades as an analyst but as a trader I have to take and I'd say I have to take liquidity and slippage into account unfortunately so typically like you know most of the traders in the premium group and I and I assume most the traders watching this you guys are gonna fall within the like probably 500 to 5,000 you know reach retail market range maybe 10,000 couple you know a few you out there I know like you know members of the premium trading group you know got fifty thousand you know hundred thousand couple nine 1000 and when you get up into those higher levels you got to worry about liquidity and slippage so when there's things like SIA coin or NP excess or anything like that that's like below like a thousand satoshis it's it's risky to trade man because the liquidity it's hard to come by and you get a lot of traders trapped on one side of the track traders trapped on one side of the position and usually the markets gonna go in that direction you don't usually see a lot of institutional order flow with with those really low cap coins you see a lot of irrational retail action so as far as but fundamentally with its with its new phone what was the other what was the other phone that came out the blockchain phone that came out I haven't seen that make a huge impact so yeah I mean just right now it's a little too nice just like Samsung Knox you know like San like Samsung sells a whole hell of a lot of phones and Knox is a secure area on the phone where you can put and crack the data nobody uses Knox you know many people have had to like explain how to use Knox I have Knox on my phone up the passwords there but like nobody nobody uses knock somebody uses this stuff at least in first of all countries yeah I do have one node not not on the on the phone thing sure it liquidity and there's a little not really call it cheap but you know if you're trading with hundreds of thousands of dollars and you mentioned SIA coin and you mentioned what was the one MP yes yeah so the good news about that on Finance is there is a way to trade it you know when you look at MP excess just for example you can look at MP xsf or you can look at MP excess BTC and when a coins really cheap in value the good news about that is it does make it actually a little bit more liquid and the reason that is and I can actually just if you pull up you know the finance order book if you if you have that I think MP X s is like 29 or 30 Satoshi's and what's going to happen is a lot of the bids are gonna stack on on the bid side and a lot of the offers are gonna stack on one side so if you place let's say 100 do you I've tried I've tried to go to finance and it took me down a rabbit hole I understand man but all I'm saying is that yeah for those guys who are like you know guys 4 plus 100k who are trans a lot and you want to trade cycle you know you want to trade empty excess the way that you would do that is to of course buy Bitcoin and your Wikipedia buttons yeah I got I if you live on the stream now I've got I've got the MPX s finance boom pulled up yeah okay yeah so what are the satoshis are right now when you have them 13 yeah so perfect so it's the biddest 13 in the in the offers 14 is that correct let me double-check yeah so last value was 13 the bid is 12 the ask is 13 yeah exactly so what you can do if you're treating with a lot of money is you can put order out you can put money on the pit and you will be filled if price goes below 12 the the good news is if price goes below 12 you're guaranteed to get filled if you place your bid at 12 but the bad news is if empty excess continues to go down or another play you could make I'm not saying do this by any means but there's a lot of liquidity at a tight price if you want to market by at 13 Satoshi's again not saying you should do this but right now there are currently 216 bitcoin beings being offered to sell at 13 Satoshi's so you can buy as much MP excess as if it as you want up to 216 Bitcoin worth of MP XS so with these cheaper coins they tend to be actually be a little bit more liquid because there just aren't that many spots to place your bids and offers at market levels yeah yeah yeah you can stay it gets dicey when you're trying to pick up on key like support and resistance areas so let's uh okay sorry let me continue going through the chat good that's a good chat that's a good yeah not a hack but that's something to keep in mind yeah if you do want to buy at market level there's the liquidity is there at the market level so for the cheaper coins yeah Andrus Luna says the Venezuela debate is a bit biased most Venezuelans don't have access to buy crypto even if they wanted to over the last year I've been in Nicaragua 20 help people buy Bitcoin and could only do so by selling my Bitcoin for fiat and they are threatened by US sanctions coming this month do the dictatorship of Daniel Ortega I'm all for crypto but access and that their role is much more difficult than most people realize right but where there is demand things tend to happen so where is where as the need for a use case for cryptocurrency to be a censorship resistant payment that actually does exist in third-world countries so for example there are cell phones there are there's lots of cell phones in very poor countries lots of people have cell phones in very poor countries not a lot of people have a personal computer not a lot of people have access to not a lot of people have a laptop but a lot of people have cell phones or cell phone access so all remember to use Bitcoin all you have to know and remember is your private key so as long as you can get access to any kind of electronic device you don't even need access to the Internet because block stream actually broadcast the blockchain through the satellite so you don't even need access to the Internet to utilize the Bitcoin blockchain so I things start what hello microphone things start out because of because of human because of genuine human needs and then because of capitalism because humans are all capitalists at heart the if it's profitable for us to to fill that need and service that need and desire which it will be and it is then you will see individuals and move to make that make that a reality so yes I understand exactly where you're coming from I get that most metas Whelan's are not running around with sinking a full note on their private laptop but Venezuela is not Venezuela does have read a lot of readily access to Bitcoin and as more people become disenfranchised with the government and again this is all speculations to take this with a grain of salt this is just what I've learned as a student of history and what I project into the future and what I see in the current market can or excuse me not current market conditions but just kind of current current society and economic problems is that they have a genuine need for a centrist up resistant currency they have a genuine need for a store value they have a genuine need for a currency that they can use to transact with and their their fiat currency is just not doing that and how can you escape US sanctions crypto currency US sanctions do not affect crypto currency let's see here you're gonna I'm not ignoring you man I your your mega bullish on t-rex man hell yeah hell yeah see here power to achieve says that would be funny people selling thinking the bottom is do in a bull run takes everybody by surprise no coming back again let me so that's I'm gonna try that's a lot but I'm gonna try um that would be funny people selling thinking the bottom is do that happens every day yeah and the bull run takes everybody by surprise they generally they generally do no coming back yeah but they could just they could just buy back you know they can just they could just take a loss and you know then just buy a little higher and bred the bull run or they get liquidated or they get looks or they you liquidate and they lose everything you know in which case then they you know I guess go back to work David wolf says I need a bot Robert says Buckeyes you know hey here's the thing man I am originally from Ohio and my family are ardent Buckeyes fans and when I was a kid I was a Buckeyes fan but then something happened I saw that gold majestic bird come out on the field and just spike that football and I knew in my heart I was a hawk man and I saw Michigan lose Ohio I'm sorry hey here is time and after Michigan lose for the fifth time I knew I was a Wolverine fan hey when you said you were a Michigan fan that it's like it's like a double whammy because I used to be a puck that's me and then Omaha but anyways so hey it's all right man we'll get him next year slugger let's see I've got so this is the third question I've had on that so I will take a quick look at it people are asking again I I hate answering these questions but can I talk about a Tron selling point please Thanks play cue Porto 434 says first time here so much knowledge here's what also here's what I'll say and I don't know if you were looking at Tron potentially earlier but if you had any kind of ideas about this so I'll just rehash what I said earlier about Tron we have come up to a key level of resistance you can see that this is our one two three fourth touch on a level of supply so you do want to be hesitant here traditionally this is definitely an area where you're looking to buy especially if you had bought in anywhere you know down below where you had good you know where you had good indications to buy whether you were able to buy the bottom whether you bought on the volume spike whether you bought on there were trace menteur the point of control I mean he'll at this point whether you bought the Golden Cross whether you would bought you know the the stochastic I mean whatever technical analysis strategy that you're using obviously you know I tend to keep it fairly simple but this is an area where I'm definitely looking to sell in the marketplace right now we're at a level of resistance I don't like to long into resistance so definitely looking to take profits right here can price continue to run up yes but I want to wait for confirmation and I definitely want to see us establish this as a floor you know now I'm not saying that if you're in the trade to cash out your entire position when if you want to be in my experience you always want to be looking to be you always want to be looking to scale out of positions and as well scale into positions one thing that terrifies me is I ladder by a lot if I have a bye zone but one thing that I will not do is if I set a buy and I have a stop-loss price and I don't have a plan the ladder if price moves against me I don't ladder because I'd rather just take the loss at the stop loss level rather than having increased my position size potentially exponentially and this is a mistake that traders get trapped into if you have a plan upfront to ladder by that's fine especially if you have a buy zone and you're setting your stop-loss you know some wherever you're setting your stop-loss generally like if you're if you have a bias on that means you're coming back to support in my eyes and you're looking to exit the trade one-eighty are below the swing low is generally how I like to play things out that way that you that way you generally won't get stopped on it but should I just lost my train of thought but if you're if you don't have a plan to ladder by up front and you're just deciding to increase your position size to get a better average entry price because price is not moving in your favor and that wasn't your plan up front I see a lot of retail traders make that mistake and that is terrifying to me like why why would I want to buy why would I want to buy more of something to lose more money on my stop-loss I would much rather scale into a winning position so yes I'm paying a premium on price but I'm also paying a discount on anxiety because I'm more confident that the trade is gonna continue to go in my favor so if that makes sense we got about eight minutes left here so let me make sure I got all the chat taken care of Johnny bull says something in the bottom is also around 2300 to 2200 but I'm thinking uber whales will want that fat wick down this seven hundred eight hundred dollars what did you guys would pay you for that scenario the ultimate shake out by it could happen that's a little uh you know two thousand dollars is pretty extreme for a wick you know if we go back in bitcoins history we do see thirty forty percent movements so is that possible when we get down at 2,300 2,200 potentially but I just as I when I was talking about earlier on the stream not earlier on this stream but earlier in time when we were coming close to 3,000 I was talking about why I was long when a lot of people were going short you know again you know I'm not gonna rehash all the reasons for that you guys can just go back and watch those streams that occurred at that point in time there was a lot of limit orders on the books paced around 3,000 to 2,900 and they couldn't all be spoofing was one of my main justifications of course also looking at the BET ask some looking at belongs to Schwartz ratios you know just but but one of my main justifications was that it was actually physically difficult for Bitcoin to move below 3000 especially because in those upper $3,100 areas those larger positions those larger limit orders on the books allow their position to get eaten into which is not indicative of spoofing generally when you're gonna see spoofing you're gonna see people price gets close to their buy order they're gonna see them remove the buy order move it down lower etc etc Sara you didn't see that you saw those buy orders pretty much hold steadfast and allowed actually allowed to be getting eaten into and then price reversed quite strongly so so yeah there's that but yeah so I don't know I guess we'll we'll deal with that as we come to it I do have if we look at the I can I'm gonna take a quick glance at it oh I see what I did there PTC USD let's pull up the bitstamp chart here real quick just for everybody and we're on the weekly chart and make sure we slap on logarithmic you guys can see the areas that I'm looking at for my ultimate buy right here again I do have it's a wide zone so again ladder buying is kind of a predetermined distraught I'm between 27 43 and 2287 is the hvn in a previous area a previous cluster of orders as you can see this was the previous consolidation area in bitcoins history on the weekly timeframe and again we do have that 80 8.6 Fibonacci retracement coming in right around two thousand three hundred thirty one dollars and 86 cents so that's actually the area that I'm targeting of course everybody has to have a price target area going back below that going down below that we do have an LVN we do have a little bit of a bump there a little bit of aggressive initiation actually which would be an area that I'd be targeting for a trade but not potentially a bottom by 1350 and seven 75 85 is actually the next areas that I'm looking for for supports below that so right now I'm looking up that 23 31 if we end up going below then we can look at lower targets but I I don't I don't think that it would but again as a trader I trade the charts in front of me I do have you know based on my technicals I do have my price levels that I that I'm looking at his key areas of interest where I'm actually looking to add positions to my spot price but you have to have a plan going in upfront you do have to have a for Bitcoin it's something that I'm interested in in value investing in so as much as I trade I do also have allocations on my portfolio forts you know for investing in it as well so you have to have a plan for investing so if you have a plan to buy at 2300 you should also have a plan to buy at 1350 and you should have a plan to buy at 778 assuming that price continues to go down again there are better ways to do this you can just until you have confirmation of a bullish uptrend to actually buy your bags will you pay a premium and price yes but you'll also pay a discount and anxiety and stress so I think that pretty much covers it man you both trade similarly nice to see you all linked up thanks man Robert says but have you ever seen a Buckeye it's like an acorn yes and it's kind of like a bullet as it descends upon your head so alright so with that I'm gonna open the floor which I've kind of done sorry there's a there's a whole lot more that I wanted to cover man but you know kind of dealing with the chat or you know not dealing with it but engaging with a chat and getting all the questions answered it takes up a lot of time man so Bennett we can go as long as you want to man if you want to get running that's absolutely fine if you wanna if there's stuff that you want to talk about if you just want to completely take over for a while or if you're getting kind of pooped man and you know maybe we can do round 2 sometime in the future it's completely up to you man yeah what would I what I do want to show is like a really zoomed out long-term analysis because there are some guys who are asking about its price oligo to like twenty to twenty three hundred sure and where I look at price you know on the daily so let me share my screen yep I'm gonna do this and do you you see the daily bit mixture I definitely do all right so on bit mix and on BitFenix we can see you can see here what I'm doing hoping hoping you guys can see this is that 3k has not been breached on on bit Mex and it also has not been breached on the BitFenix ptc USD right so right down here that's three thousand so what I'm expecting with this and what I wouldn't be shocked at is there is a ton of liquidity just below 3k and I will bet you that a lot of traders are gonna say oh if we go below 3k price can only go lower so I want to be shocked to see news articles to see everyone just going very bearish when price goes slightly below 3k when I wouldn't be shocked to see is price going right below 3k on a tail like that very violent very very volatile and then perhaps a move much much higher or even perhaps a move just of consolidation been much much higher do I think the price is going to go into the lower 2000s I don't really think that makes a lot of sense and I kind of can't really see that happening I think that it's more likely that we might get a stop-loss hunt and then price goes lower and for this to be true I think that there's a higher probability of a stop-loss stop-loss happening the longer the consolidation period continues so this consolidation continues to to consolidate then the odds of stop-loss hunter just going to continue because you know if price comes up here then the odds of price going to here is much lower but if price does this it just doesn't really go anywhere then after that consolidation I wouldn't be shocked to see this this would not surprise me you know excuse the arrow it's not pointing to any specific rate number but this is something that I do have in mind for a very long term approach yeah it was supposed to go up to 100k it's yeah I forgot I should put it to the moon yeah okay yeah that definitely makes sense for trap liquidity I do I agree with you as far as the set up for the trade I do think that we probably will eventually I will wait so far as far as I've seen I haven't seen a reversal of the bear market I am again as I said short-term bullish on Bitcoin I kind of wait to see what happens at when we reach that $6,000 level again and that level hasn't been tested for rejection if we do reject from that level again you know I'm no confirmation that the bear markets over so I definitely see and completely agree with you from the trade aspect and trade setup idea I guess that as long as we are still in the bear market though I will stay in bear market phase and look for lower targets if that makes sense yeah it does you know when you look at market bottoms that had very large bounces I call the sub market bottoms have had very very large bounces you know this had high volatility this had a you know high volatility moved in and it was low volatility at that price without this ended on you know extreme low volatility so what we're looking for is basically a high volatility move that is followed by low volatility and have we seen that here yet I don't know I don't think we've seen the kind of pattern of a bottoming out like that or bottoming out like this so I think I wouldn't be shocked to see that stop-loss hunt and then price goes higher that's let me I I completely agree with you and and one of the things that I've been saying in my stream for a while that I'm I still remain in bear mode territory and look for lower targets until I see a couple things at least in the short term if I see higher weekly highs breaking resistance if I see a weekly open and close above 4,000 okay then I can be kind of excited about that you know 4200 4400 or key levels to look for as well or if I see clear signs of capitulation and one of the things you're looking at volume there and that's measured in coins traded if you actually there's an indicator on trading view that actually shoot what is the name of it I can wind up Bitcoin trading volume in dollars I thought but this is in this right here is in contracts it is in dollars because one dollar equals one contract on picnics right but that that data will not show you the previous bottom in 2014 which is a good example if you compare the violence of if you compare the violence of liquidity oh you mean like oh the bottom in 2014 like what over here yeah yes and that's measured right and that's measured in coins traded so you can see a difference in liquidity there in volume if you actually look at it in USD I believe it was Bitcoin USD what was it called the Queen listen I I'm trying to here let me pull up my trading view and I found it is it is it this one at one point yeah it's it's one of those three all right let's let's try let's try this guy out Bitcoin volume you at volume USD never never use this one before so uh new indicator in my eyes so does this look like it yeah yeah that's that's a pretty good in so you can see you can see the you could see the spike there in you know the the volume spike that associated the capitulation so let's see let me pull up the let me pull up the bed stand chart make sure I'm looking at the right thing all right yeah and if you have a better look at it I can I I can quit sharing mine and you can share yours yeah one second let me find what I'm looking for yes so go ahead let me let me pull up my screen and I'll kind of point out one of the fattest that I've been look for yep okay so let me pull up that indicator BT Bitcoin misty okay Bitcoin volume USD there we go all right and we will get rid of this and this for just a little bit okay hopefully this is gonna highlight what I want it to highlight okay if it's not then I'll just say hey guys I was completely wrong and we'll move on bias was not confirmed so one of the things that I look for in capitulation is if we look at how the market responded here at this point in time let's go look at the bottom in 2014 so we get an extreme high price wick down on high volume so we got a high volatility movement and then in a very short span of time let's actually so when is this so this is the 12th of January 2015 was really the bottom of the market and price never really returns to those lows on the weekly timeframe I mean this is clear capitulation where you have a high-volume spike down and this is kind of a concept that you've covered in your videos as well you see a high volatility movement to the downside you've got stops you know completely cleared out of course this is not going to be indicative back in 2015 you couldn't rate contracts but you basically have all people that are trying to buy and go along just completely clear out of the market and you're providing liquidity to you know individuals who actually are on the other side of those books and then the market never ever really returns to those levels again it tries to make an attempt here but that's about 20% away from the bottom you know the price never ever returns to those lows again and actually reverses from it extremely quickly so let me see if I can't pull at that point in time so that's June 2018 so we got to go back to 2015 sorry that's November getting closer here we go so this is on the daily timeframe here's where it happened right here so you can see on a daily timeframe you can see that you could see that you did not have a lot of time to by the bottom you didn't have a lot of time to buy the market bottom you didn't have days and weeks and months you know price pretty much immediately reversed away from this area and then never came back down close to that area and then yes we had that sideways period of consolidation before we really started up for a moon mission to the upside we actually had a consolidation period of geeze a really odd ranging price for almost almost a year almost a year 257 days so just looking at current price do I think that 3k is gonna you know one of the similarities that I've heard is like is 3k gonna be the new 6k I've thought about that a lot and I definitely can see that playing out because yes there's a lot of buy orders below that 3000 dollar level now whether or not it's going to overcome supply that is spaced out below this level especially in the four thousand dollar area right here you know I just got a remains to be seen for me I guess I'd ended up talking about that indicator a whole lot did I let's see here oh so hold on just so I don't lose my train of thought and so I stay on that topic we don't really see the same we don't really see that same period here now can it play out differently of course it can but when you're looking at a capitulation play if we look here we actually had one two three four days to buy the bottom you know as opposed to as opposed to you know a couple hours so it just doesn't the market generally is not not that generous in my in my experience you know I mean market generally doesn't give you that much time to buy the bottom so that's why I think that at the very least and again I agree with what you're saying there's a lot of stop losses below this area a lot of liquidity below that area so definitely an area to be keeping your eye on now just waiting to see what happens over the next day so I do want to take a look at that indicator because somebody appointed this indicator out to me and I haven't done the time to analyze this so now you guys can kind of see the modeling the noddings of my brain live on air and I'm trying to see what they have pointed out so this is measuring Bitcoin volume and USD as opposed to the bitstamp chart right here which is measuring volume and coins traded so this makes sense the highest place the highest volume note that I can find is actually that that 10% candle off the lows where price actually went from let's see open debt had a high of seventeen thousand two hundred eighty oh no sorry I'm looking at the wrong candle it's just sumo make sure that I am getting the right one there yeah ten percent candle right there had the most USD volume traded so that was right at the top so I'm gonna have to spend some more time with this so to try to understand the correlation I guess his correlation and his comments to me had said that they're looking at the capitulation of 2000 you know the end of 2014 the beginning of 2015 he mentioned this indicator to me and said that I'd be able to see so not really seeing what it is that he wants me to see though doesn't look too terribly different from the doesn't look too totally different from the regular volume distribution I guess it's got the same kind of pattern mm-hmm and by the way I am gonna have to go soon so if you guys have any like last question or any last requests I am I'm all the years for that maybe this is what he's talking about here okay so actually if you looked at that bottoming candle at the capitulation of January 2015 you actually saw a massive increase in USD selling pressure or buying pressure but if you actually look at it on the chart now you don't see you don't see that in fact you see a very low volume spike on that actual bottom candle all right let's see your Johnny Bull says I'm thinking that the bottom is also around 2,300 2,200 but I'm thinking oh wait I already read that my bad my bad my bad all right yeah great point mass – your innards be you says BLX 85% of viewers can't find the like button it's about that of your screen people bu Bitcoin normalized volume as the indicator I have always used for that dollar normalized volume and interesting okay let me try that out man so if you guys have any last-minute questions for for Bennett get those in man okay yeah yeah same thing but okay now I guess I can kind of see so I'm gonna have to do some what is that what does that say to you man that though that price reversed at the bottom candle on not a whole lot of volume when price reverses on a looking at a one-day yeah okay so when price reverses on a one-day candle with not a lot of volume well what's that well what that actually means is that not many transactions occurred which probably means that the order book wasn't wasn't that stacked at those prices meaning that potentially what matters it matters how large was the candle that's another thing I always look at with volume very very small man very very small price candle with a very very small volume that's telling me that not a lot of volume was transacted then price just began to move higher to the upside yeah I would say that doesn't happen as much but someone once told me that when you look at volume and we look at volatility typically reversals either going to be extremely high volume or extremely low volume but with volatility you know you'll either have an ending of a trend with extremely high volatility or the ending of a trend with extremely low volatility so I think that there is something to say that extremely low volume coupled with extremely low volatility can lead to reverb reversal although I see more as the other way around with you I'm gonna have to have to do some more I have to add that to my list of stuff to check out man but yeah very very different from the reversal that we got that really you know signified the end of 2014 again I know a lot of people I try to stay away from like me me stuff like that you know stuff that a lot of people are talking about and pointing out because generally when you get a lot of people pointing out and talking about something the opposite is likely to happen but yeah all right let's see here Johnny Bull said great stuff Bennett he's subscribed to your channel and Robert asks will you be doing another video on scalping liquidations yeah so that that video that I just put out if you go to my channel Bitcoin train challenges it's the newest video I just made yeah I will be doing a follow-up to that video I don't know if it'll be this week or the next week but my next video is gonna either include a you know a little bit more advanced and in-depth ways of trying to find where people will be liquidated or be looking at different kinds of coins like a DA cos I don't know what it's called XRP and using those kinds of coins to find liquidations as well so a lot of ways I can take it and yeah I'm looking forward to do morning videos on scalping liquidations sweet man and I guess probably the last question I think you can kind of encapsulate your ethos your motto and everything there Porto 434 says swing trading what indicators are most important to use I think that you could take a wider a kind of wider answer with that which I which I hope you can use to kind of encapsulate your approach to trading and your methodology and oh yes just uh you know put put it all together well when you say swing trading are we talking I'm just gonna assume with swing trading and I'm you know making assumption here that we're looking at a one hour time frame Sharpe if you want to go really simple you know I can give you two answers here one is the simple answer and one is the more complex answer if you want to just say super simple use money flow which is MFI but the money money flow is a really good way to really get indicator it looks at both price and volume and can show you potential reversals for Bitcoin and for some all coins as well you can also pair that with maybe like what you had mentioned with like Fisher with the Fisher transform and then combine that with volume spikes you know that can be a really good just simple strategy for swing trading and the indicators you'd use for it now you have another option which is you know the more complex way of doing things and that that's kind of how I like to do them if you want to go more complex with swing trading what you could do is look at bas that's the bid-ask sum that's going to tell you how many people are trying to buy bitcoin how many people are trying to sell you could look at MDR MDR is looking at all coins and telling us how many people want to buy those all coins and how you want to sell those all coins you look you could look at BitFenix sentiment that's be a BF x LS you could look at the percentage rate of how many traders are long on bid FedEx and how many are short you could look also at bit Mex liquidations you can see are a lot of Twitter's likely to be liquidated in this price zone are a lot of traders likely be liquidating this zone you know and if you think a lot of liquidations are gonna happen at a certain price you could swing trade that price and try to counter trade the market that way with a with a tight stop loss so it's really like encapsulate that answer I would say if you want a swing trade simple answer just use MFI using it use technical indicators and do your best but if you want to try something a little bit more complex than try to take a psychology based approach and try to find some indicators that really give you the best read on who is buying when they're buying and who is likely to buy in the future and vice-versa for selling because those kinds of indicators for sentiment tend to be the most powerful well said well said Scott asked if you liked Reich and money flow at all for for that as a kind of as maybe substitute for money I haven't really looked at cmf I just look at MF I maybe I should take a look at check-in money flow but I don't really know a lot about it actually awesome man well hey Bennett it's been fantastic Ivy on the stream man this is one of my more pleasant evening live streams man I've had a have some good ones I've had some rough ones but this was definitely definitely in the good category so go ahead man tell people where they can find you as always guys the links are in the description down below to his patreon website this and YouTube but if you wanna I don't know if you want to plug anything else or tell the guys where to find ya so yeah man I think you've said like all of it basically so you can find my youtube it's Bitcoin trading challenge and I run a patreon that anyone who wants to vote on a future video or suggest a video for me to make you can go to my patreon and do so I also do mentoring as you had mentioned so if you want one-on-one mentoring or even a group mentoring session as well you can go to my website and fill out a form and we can find a time to do mentoring on any topic that you or I find helpful and profitable and the final plug I would give is I am currently writing my price action volume guide so what I'm doing is I am writing and also I'm also putting videos on for really a price action volume guide that is showing people how to exploit other retail traders by stop-loss hunting by looking at volume spikes that show a lot of retail traders are mass buying or mass selling and really the kind of guide that shows you how to trade against retail and how to trade like an institution so that will be coming out about a month or two and I'm looking forward to that in the future good man awesome good to hear you're staying busy man a lot of good information that you're providing to people if you are looking for you know again we do a lot of technical analysis on the stream you know I I'm a day trader that's how I kind of make my living but if you guys want to boost your skills and everything like that definitely check out some of the stuff that then it has on his channel it's been one of the be honest man it's it's one of the it's one of the best resources I think for a lot of people looking for an alternate approach to trading that they're gonna find out there otherwise what you're just gonna see is a lot of moving averages a lot of a lot of stochastic talk a lot of RSI talk I don't know yeah and at the very least we don't we always try to look at unique unique ways to exploit the market in the psychology of those traders as well all right and you know to to really capsulate that and to leave it on a final note what I always say is if you do what others do you'll probably have the same results that others have but if you look to do what others don't do then you'll probably have the results that other people usually don't have with that happy trading in thank you for having me Justin hey no problem man you can hop off if you want I'm just gonna do my like two minute two minutes super quick plug and then and then we'll bounce out one sec real quick guys let me pull up the thing because I'm not using the regular not using the regular boom there we go I think I got it right here alright guys if you guys if you guys enjoy the stream if you guys enjoy the show as always make sure you guys hit that subscribe button and the like button helps us helps those later on down the stream find what they need find the information that they want gets access to the stuff that I do think that people need to see as always if you guys want to hop over on Twitch forward slash crack and crypto give me a follow give me a subscription if he got Amazon Prime doesn't cost you a dime helps me keep the lights on if you would like to get some serious value or some bang for your buck guys you guys can head over to the merch store at crack cryptocurrency calm and get access to this the most magnificent of all beverage vessels right here the Kraken cryptocurrency huddle coffee mug it is scientifically proven to increase the efficacy of your trading 80% if you do drink your morning coffee out of this and specularly can increase your attractiveness levels by 90% so you guys can get that it is available at the Kraken cryptocurrency merch store at Kraken cryptocurrency dot-com we do get a kickback from the sell the merch it does help keep the lights on around here as well if you guys would like to improve your trading skills and start off January on the right foot turn those losses in the gains consider checking out the Kraken cryptocurrency premium trading group as a subscriber you'll get access to all our active excuse me sometimes I talk too fast he will get access to our active signals and trade setups from all the analysts at Kraken cryptocurrency you will also get access to the VIP chat room and the day trading voice chat as well you have access to one-on-one mentorship and support from the team you get access to our database library and our resource library full of PDFs webinars courses histories workbooks everything that you guys need you get access to our live trade tracker a personalized customizable trade journal for yourself and as always you will get access to we have so much stuff man I gotta add I got I got our skull that or remember premium curated new Scott does the news every single day curates the news for you guys so no more searching for the news that you guys think is fundamental to the markets and access to my personal webinar series designed to teach you all the fundamentals that you need to be a successful and profitable trader so you guys can go check that out if you guys want to start your trading off on the right for January 2019 I do want to thank Bennett of course for joining me this evening a very fantastic show man thank you so much everybody for joining us this evening hopefully you guys are having a good night a good time a good evening trade safely and as always guys we'll see you tomorrow next time

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