Bitcoin: Is the bottom in?

What's good, guys? Welcome back to another video. Today we're going to talk about Bitcoin, we're going to talk about ETH, we're going to talk about SOL, just like usual. Most importantly, just understand that the higher timeframe is starting to shift now. It looks like the bottom may be in. I'm going to discuss that later as well. And also the setup for today is going to be much more straightforward compared to yesterday. But speaking about yesterday, let's get into just breaking down the trade from yesterday real quick. Ultimately, both of the scenarios that I mentioned yesterday ended up happening where it said that price would come here and then ultimately it may bounce. Now the timing was, you know, the weird part where roughly around the time during the New York session at around 9:30, you ultimately ended up pumping, not by much, and then you ended up dumping, not by much either. For me yesterday, that was just a no trade. Like I did not personally take any trades. And this is a prime example of the type of trading day that you ideally want to avoid because like for the most part from the London session all the way till the New York session, You went from a peak of $110,000 just all the way down to $109,000 basically. It's just like in the span of like 9 hours worth of high-quality trading hours, meaning from the London session to the New York session, you moved a grand total of $1,000. This is exactly the reason why I said like yesterday was very uncertain, right? There are days like today where it's gonna be immediately apparent what is going to be the move. And yesterday was not one of those days. And ideally you want to be avoiding days like yesterday. Just straight up no trade. There is a saying, and I'm sure you've heard it before: Not every day is a trading day. Not every week is a trading week. But in terms of the trading day, that is very much true. As a beginner, you may not realize it, but as you do this more and more, you will come to realize the meaning behind that statement. And it is true. They're not trying to scam you. They're not trying to lie to you. Now, just to give you an example of you, let's just use these recent couple of weeks where the U.S. government has been going through a shutdown, and because of that. The price action has just been a lot more uncertain, right? In the sense that you are not getting very clean directional movement. You are more so getting range type of movement, right? If you take a look at price action here, very tight range. For the most part, you've just been trading in between the range of $113,000 to like, let's say $106,000. And you've been doing this for like a good solid couple of weeks. And if you take a look at even more grand scheme things, Right? This versus this. And this is not to say that this is a bad thing, right? We also kind of foresaw this in the sense that like part of the mechanisms that makes the market move is that after every high volatility movement, you tend to go into periods of low volatility and vice versa. You spend very long in a range, you ultimately just break out very aggressively. That's why people, the folklore in crypto tend to say that, oh, the longer you spend in a range, the bigger move is going to be. It is true. So right now, price is just really finding some sort of value area at this level, and eventually we are going to sweep the range lows and then ultimately break above the range highs, and the trend is going to continue. But patience is going to pay here just because, well, we are still within range in the grand scheme of things, and the best opportunities within any sort of range is below the range low, meaning you want to ideally buy close to the range low and then you want to sell at the range high. This is the exact kind of like setup That's been occurring here. For example, this is your trading range. After you sweep the range high, boom, you go opposite to the range low. And right now we're at the range low, so price is en route to the range high at the moment. Just understand that within the higher timeframe, we are just simply forming a new range. Why are we doing this? Because this aggressive move here wiped out quite a lot of traders, which means a lot of orders have now been reset. Right now, both buyers and sellers need to, you know, just grapple with each other. To see, to determine a new value area, which is a price where both sides of the market feel like it's a fair price to do transactions, whether it be selling, whether it be buying. I know that's quite a mouthful, but just understand that this is the purpose of forming ranges. You just need to create kind of like a new floor in the market so that eventually if you do break out, then boop, you can come back into a proven value area with a lot of trading volume that will have room to go from there. Now, the flip side could also occur in the sense that if you break lower, then this value area could become future resistance. But we're not going to make any predictions about that at the moment because, well, the range is still playing out and the price is still finding the new value area. Anyways, finally we are able to get into the, you know, actual trade call for today. So starting things off, we finally got a bullish candle close, which means today we are going to be looking for longs. Now, as I've already kind of prefaced at the start of this video, the setup for today is going to be much more straightforward, much more obvious, and just much more clean compared to yesterday. The reason being Is that well now we are coming into some sort of bullish PD array. We have a bullish daily bias. Besides that, we also have a bullish PD array over here where you have a bullish order block, and these are going to be the only two levels that I'm going to be looking for for some kind of retracement before price continues going on to the upside. Why the upside? Because the daily bias towards the upside. Pretty simple. So now we go into the five-minute chart, and we can see that so far during the London session, you have broken above the Asia high, and at the moment you're retracing back into the Asia range to find support and ultimately continue. The pump. So the setup today is going to be super straightforward. Anytime between the hours of 7 a.m. to 10 a.m., I'm going to look for just some sort of change in state delivery. Heck, it could even happen like now in this in the sense that this would be the change in state delivery. Granted, we do not break lower. If we get something like this, that's going to be the entry. Stop's going to be here, and you're going to target to up. Pretty simple. And the beautiful thing about today is that compared to yesterday, we have news right now. Granted. there is still, you know, the shutdown going on. But what's important to understand about news events is that it's not the actual news event or like the actual result or the print of the news event that moves the market. It's more so the anticipation of every market participant that, hey, you know, price is likely going to move during these news times that actually causes the market to move. All right? It's not about the data. It's not about, oh, CPI is high or whatever. What you guys might have realized this already, but over the last 2 weeks, even though there is no official news being released, But during the usual news timings, i.e., 8:30 AM, i.e., 9:30 AM, even 10:00 AM, you are still seeing the market move quite a lot actually. And that is not a coincidence. If you didn't believe me before when I said that news events actually do not matter, if you did not believe me before when I was telling or explaining to you that the result of news doesn't actually matter, I hope that this example here has shown you very clearly what actually moves the market. Okay? Ultimately, when you learn how to read the price action, just like how smart money does, just like what we've done here over the last 8 months, again, the proof is in the pudding, right? We've averaged about an 80% win rate on all of these public calls that I make here on YouTube. And once you learn how to read price action, you'll figure out really quickly that whatever the news event is going to be, it's— the clues are already in the price, right? As people say, these news events tend to be priced in, and it's true. So many times we're like, all right, today's going to be bearish, and we read that during the London session. And then during the news itself, oh yeah, it's super bearish news and price dumps. But how were we able to know that? Well, you read it in the price action. So anyways, in terms of the price action today, I think it's looking pretty bullish. And there is one last scenario that we can talk about, is that in the event that by the time you watch this video, price breaks, or at least you get a 1-hourly close above $111,400, that would mark this as a new potential order block. And during the New York session, you basically just continue trading this to the upside. But the ideal trading times for today is going to be an hour before news until the hour after news. So start looking at the chart, start looking for these entries at around 7:30 AM New York, then, you know, potentially look for the move to finish or to conclude at around 11 AM New York. That's going to be your ideal trading window. Now, worry not, if I do take a trade today, I will be posting them onto Twitter at _TheArtOfCrypto. So feel free to follow me if you want to just kind of live trade alongside with me. But otherwise, yeah, we're already getting that changes that delivery. So by the time you watch this video, hey, this could have potentially happened already. This, by the way, was already posted onto my Twitter, which, by the way, check out how cool the office looks. I'm in the process of reviving my personal account, so go show some love to that post. And I'm going to be sharing more and more snippets of daily life and of course during my travels because I'm always traveling. Anyways, yeah, take a look here. This is This is the setup that I called super obvious. Once you once you learn how to read this, it becomes pretty obvious. But otherwise, it's time now to look at oh just one final thing to discuss regarding Bitcoin is that in the event that price just straight up you know continues to dump on the five minute from this point onwards, if it continues to dump all the way into 730, into 830, into 930, it means that we do not have the necessary confirmations to well. Confirm a long trade because it doesn't matter what we think, right? We think that at the very least, based on the system that I've been using to achieve that 80% win rate, Fibonacci here and the order block here is very likely to act as support. But that is just my opinion. There is also the other point where the market also has to show me that, hey, my idea is correct. The market has to show me that it agrees with the idea before I can jump in. And so in this case, I need to see that 5-minute changes delivery, which is kind of what is happening right now. On the 5-minute chart hasn't happened yet because we still need a candle close above this level. But I hope you see what I mean when I say confirmations. Without the confirmations, you're just going to be jumping in blindly based on what you think. And it's very rarely that our opinions is going to hold any sort of power over the markets. So just keep that in mind. Speaking about this 80% win rate strategy, by the way, working on something really interesting for you guys this upcoming Black Friday. So in about a month and a week from now, most likely doing a masterclass, just breaking down you know, step by step how to use the system and how you can apply it yourself. It's gonna be completely free, of course. If you would like to, you know, just sign up for that, secure your spot on the waitlist as early as possible, I will probably have some sort of signup link next Monday. Now, if you don't wanna miss the event and you wanna be notified when the waitlist opens, feel free to sign up to the newsletter down in the first link of the description box below. Like, we are going to prioritize the people that are on the newsletter. And generally in the first place, we are sending quite valuable stuff in the newsletter anyways. So you're not gonna be missing out on much. Anyways, now that Bitcoin is over and done with, let's look at ETH. So if you guys recall what I mentioned on ETH yesterday, it's going to be like, if there was a world where you go longer, like if you would go long on ETH or Bitcoin, I would definitely choose ETH just because of how much stronger it looks compared to Bitcoin. And of course, Solana is looking even better, but we're going to get into that in just a bit. ETH, the setup is going to be very similar. Again, both of these are almost the exact same chart. You have this bullish fair value gap here, and you have this bullish order block here. Either way, right, you're just going to want to be looking for the exact same setup on Bitcoin. Pretty straightforward. And the target for ETH intraday, potentially you're looking at $4,110. If this happens, it's going to be super bullish for ETH because now you'll be breaking above the range high. If you're able to hold above the range high, then you're looking at potentially much more upside. And this is going to happen, or at the very least, at the moment, Bitcoin— sorry, Ethereum is looking much stronger than Bitcoin. So in terms of longs, I would definitely prioritize Ethereum. At the same time, we are en route to still breaking that key level on ETH/BTC that I'm looking at, which is right here. Until you break this one, you don't want to be super certain that, hey, you know, alt season is back. But if you are able to get a daily close above this level right here, it's going to be looking pretty good for a continuation of alt season in November and December. And lastly, take a look at Solana. You have had a very bullish close. Kaboom. That is a bullish order block now on the daily chart. Plus, if you take a look at the 1-hourly, you have quite a few key levels to go off of. One is this bullish order block right here. That's a liquidity level. So in the event that you super liquidity level, you're going to be looking at something like this where this becomes your new bullish order block. So pretty straightforward. Ethereum, Solana, all of these are exactly the same chart. If you're going to go long on any one of these, my only word of advice is to pick one and not go long on all of them at the same time. That is a stupid thing to do. Ultimately, these are all cryptos, which means that if Bitcoin dumps, well, everything's gonna dump. And if Bitcoin pumps, you know, everything's gonna pump. If you take 3 trades at the same time, you're essentially just taking the same trade 3 times, which means you're exposing yourself to 3 times the amount of risk, which is just completely unnecessary. Pick one, whichever one that looks the best to you. Of course, I will be posting this on Twitter later, but otherwise, yeah, enjoy your weekend. Look forward to a couple of videos I'm gonna post throughout the weekend. It's gonna be super valuable. Have a great day, guys, and have a great weekend. Ciao ciao.