Bitcoin: The Bottom Is NOT IN, More Dumps Incoming!

What's good guys, welcome back to another video. Last week we perfectly timed and predicted the pump. Essentially, this was the weekly level that we have been looking at since the start of the week. Once that got filled, boom, the moment news dropped, kaboom. And once that got filled at 9 AM, news dropped on 10 AM, and that is exactly when Bitcoin pumped like $5,000 within an hour. And same went for pretty much every single altcoin out there. If you managed to take advantage of that to make a lot of money, Drop it down in the comment section below. It always you know means a lot to me when I know that these videos are helping you guys out. But anyways, this makes the 95th win out of the last 119 calls that I've made here on YouTube. So if you're new to this channel, understand that you are probably at the right place because we tend to be right more often than we're wrong. And now let's get into the Bitcoin chart and try to you know get another win. Hopefully another win that is as clean as what we had. So at the moment, the weekly closed bearish, which means the weekly bias for this week unfortunately is actually bearish. We did not get this huge reversal on Bitcoin, basically retracing every single move from, you know, basically retracing that $5,000 pump, we would have actually been looking way better. Like, I would have just told you straight up, like, okay, from now until like mid of next month, just go long, long, long. Unfortunately, because of that retracement, now the weekly chart has closed bearish. And so now this week we're actually going to have a slightly bearish bias heading into it. Now, this is also coming alongside the fact that Last Friday during the Jackson Hole event, Federal Chair Jerome Powell only hinted at, you know, current market conditions actually warrant a rate dump or like a rate cut. And it's not until next, you know, September, like mid of September. I think the next interest rate cut event is going to be around September 15th or 16th. But around that time is when you are going to expect an interest rate cut. Obviously that is very good for risk assets like Bitcoin and, you know, all of your other indices like the stock market or whatever. So yeah, what we may see moving forward is just a couple of other weeks more of like just accumulation slash retracement. Again, like a retracement period post sweeping out the new all-time high is nothing out of the ordinary. If you take a look at every single time so far during this bull run that Bitcoin has swept out some kind of key high, you have went through quite a long period of retracement. In this case, this lasted about 6 months. In this case, once you swept out that previous all-time high again, This period lasted about January to April, so 3 months. And after you swept out this again, you had a retracement period of about a month. And so far, you know, it wouldn't be surprising basically. I'm not saying it's going to happen, but it wouldn't be surprising to see another, you know, 2 to 3 weeks of retracement and maybe giving the, you know, just every player in the market another chance to reaccumulate their positions before the rate dump happens. And we might bounce from here or from here. Either way though, for now, because of the weekly close, we're going to be bearish, at least for this week, at least from an intraday perspective. Don't get me wrong, from a swing trading perspective, you're still looking to buy Bitcoin at around this price. You're still looking to buy Bitcoin around these prices, and you're still looking to accumulate your altcoin positions. Speaking about altcoin positions, I have already posted a few charts on altcoins. Just going to walk you through real quick. Like TAO, look to accumulate your positions either here or here. These are the 2 areas that are going to be fantastic. Pengu is so far heading back towards some kind of weekly fair value gap. And once you fill that in, you're actually going to have kind of like a 3-dry formation. And then you may expect some kind of like a bounce from that point onwards. And Kaito is also interesting. Like you're coming into some kind of higher timeframe key level right now. You have relatively equal high— sorry, lows here though. So if you sweep this out and if you overcome the resistance at around 1.2/1.3, look for a retracement back into that. Block, flipping basically resistance, flipping it into support. And you can actually target all the way to $1.8. So these are like 3 altcoin ideas that I have at the moment. And if you want to just get more access to these altcoins, by the way, just follow me on Twitter. That's where I'm going to be posting all of these updates as well as just a lot of alpha. But otherwise, back into what we were talking about before. Overall, still bullish. And overall, we're still bullish, but just in the immediate timeframe, we're going to treat— we're going to trade the market the way that it's kind of like showing us right now. Like, as much as I would love for the market to just pump right now, because I hold bags as well, and there's nothing more that I would love to see than Bitcoin going to a new all-time high right this instance and pumping all of my bags by another 50%. I would love for that to happen. Fortunately, this is not what the market is showing us at the moment. And so we're going to trade what the market is telling us and not what we want to see from the market. So first things first, the last 2 days has been bearish and today has been, you know, pretty bearish so far. We can reasonably anticipate that Bitcoin is going to head towards the $110,000 level. Not only is this a key psychological level, but also this is when the order block support kind of begins for Bitcoin. On another note, we have— now, if assuming that today's candle actually closes bearish, which I really hope not, we are going to get a CSD on the daily chart, right? This is essentially a change in order flow. You could argue that this candle actually closed, like, already, you know, you got the CSD, but like, this is so tight that you can't really call this super convincing. So if today's candle closes below $112,500, this is going to confirm a daily change in order flow from bullish, like for the first time in a long time, into bearish. And essentially this entire range of candles here, plus this area here, is going to become resistance for price to actually head downwards, like even lower. Again, this is not super promising. Today is going to be very important for Bitcoin as well as the rest of crypto. Ideally, you don't close below this level. Like, we're not going to expect any reasonable sort of a bounce over the next 2 to 3 weeks. Hopefully it doesn't happen. But yeah, so far in terms of the daily bias, this is what we're looking at. Now, in terms of the 1-hour chart, let's take a look at how this is developing. So far, well, on the 1-hour chart, you've definitely gone in CIC, but daily chart, not yet. But just to take a look at what we have to work with at the moment, we have this bearish order block right here that if price were to retrace to today, we can potentially take advantage of that. You have this fair value gap right here, and you have this fair value gap right here. Essentially what I'm doing, and this is the system that we use here at this channel that has allowed us to, you know, basically win 90 out of our last 120 trades. A system that essentially we use the daily timeframe to kind of set the bias, just kind of like figure out the direction. In this case, in terms of the daily chart, we are bearish. And then we go into the 1-hourly chart, we look for PD arrays that support our higher timeframe bias, which is what I'm doing here. Notice how I'm not looking for bullish order blocks right now. I am only looking for bearish order blocks and bearish fair value gaps because this supports our higher timeframe theory. I think a big mistake that people go wrong with is their higher timeframe may be pointing up, but then they're still looking for bearish order blocks on the 1-hour chart or like any sort of lower timeframe. It just kind of defeats the purpose of having a higher timeframe bias in the first place. Like, you know, if you know the higher timeframe is going to go down, just look for areas that, you know, kind of support that thesis. And that's just something that I teach like throughout this channel. But anyways, so in the event that you retrace into either one of these 3 levels, this is going to be just key areas for you to just dive into a trade short. Another area to potentially consider, although I think this is super unlikely, is this fair value gap above and this order block above. The reason why I'm not really marking them out is because like if you were to get to that level, you would basically already have changed the order flow. Like you have 1, 2, 3 bearish PD arrays that have been disrespected on your way to, you know, filling in this PD array right here. While it is a possibility, I think it's a little less likely compared to one of these 3 levels getting filled instead, given how volatile the market has been moving so far. On just another note though, if you guys have managed to take advantage of the move last Friday and you did not take any profits, and right now you just got stopped out breakeven or stopped out in a loss, try not to make that same mistake next time. It never hurts to just take some profit. You can always, especially if you are an intraday trader or a short-term trader, understand that There's been so many times where I see people, like, they get into the trade here on, let's say, using the 5-minute chart, and then they set their target at like $150,000 Bitcoin or something. And it's like, it really defeats the purpose of doing intraday. Like, if you're executing from the 5-minute chart, that is an intraday timeframe. Use an intraday kind of trading system, but then you're targeting, you're setting your targets at a level where it's only possible through swing trading, then you really have a mismatch in expectations here where the method that you're using to achieve the result is, you know, not really matched. And so if you are trading intraday or if you are trading short-term, if you get a move on Bitcoin that is like $5,000 to $10,000, take some profit. Otherwise, you know, this is going to happen. But anyways, another thing to keep in mind though is that even though we are bearish so far, there is a potential that this is a new value area that is forming right now. And we have currently just swept below the value area low, and we could potentially go target the value area high. So this would support the theory of like filling in this upper fair value gap instead. And as well as like sweeping out these relatively equal lows— sorry, relatively equal highs. I don't think that's going to happen today, but there is a potential that could happen, you know, tomorrow or on Wednesday. In fact, let's just take a look real quick at what's currently happening in terms of news. And oh my God, this week is going to be a rough week. Like, the only news we have this week is on Thursday and Friday, and we have basically nothing from Monday, Tuesday, Wednesday. And so yeah. Ideally, this week we're going to just take it easy. We're going to play it really cautiously, and we're going to focus the majority of our trading on Thursday and Friday. If you remember last week, I did already mention that I kind of like mapped out how the early of the week was going to go and how late in the week was going to go. Like, we overall managed to predict the fact that, hey, you know, like, this level is going to get filled on Friday and there's going to be some kind of a bounce. That's exactly what happened. And it's because I timed the market movements with news, specifically like really big news. The biggest news last week was on Friday at 10 AM. Guess what time? Guess when the biggest move of last week happened? 10 AM on Friday. With 1 hour, you basically like negated 1, 2, 3, and potentially 4 days worth of price action in 1 hour because you had a big piece of news. This is how important trading with news is. And so far, the only piece of news that I could realistically see is Thursday and Friday. And I think the— yeah, like both of them are like pretty valid days. So we're going to focus most of our trading on those days. Understand that Monday to Wednesday, even if we do take any trades, it's going to be You know, we're going to try to take profits sooner slash we're going to go half risk instead of just taking on full risk like we usually do. Anyways, enough about that. Time to go into the 5-minute chart. And yeah, realistically, so far it's still in bearish order flow. Honestly, if price were to just break it down from here, it's just bearish order flow. If price were to retrace up to here, that is also bearish order flow. Obviously, if you were to come up to this level or this level or this level, the 5-minute order flow is going to change into bullish essentially. Like you're going to be disrespecting 1, 2, And potentially 3 order blocks in order to get to these levels. And so your trigger is that once you fill in either one of these 3 levels on a 1-hourly timeframe, you're going to want to wait for a 5-minute change in state of delivery. Basically, you just want to see price forming bearish order blocks and then respecting it, right? After you respect the bearish order block and you form a new low, that is a change in state of delivery. And yeah, you feel free to just jump short. And as usual, every single one of the trades that I call on this channel is— if I do not name any targets, just assume that it's always 2R. Whatever trade that you get into, like the reality is nobody really needs more than let's say four R a week to make like some insane money from trading. Like that is essentially two X, like two times two R trades a week. That's it. Even if you account for losses, let's say you have a fifty percent win rate or whatever, or let's say you have a forty percent win rate. Like for every you know two trades you make, you lose two trades. So that's minus two R, right? Two times one R. That's Essentially, you just need to win 3 times, like 3 2R trades a week with accounting for like 2 losses, which equates to basically 1 trade a day. That's all you need. Like, and that's even more than enough already. If you have $100,000 in funding, which is super easy to achieve, by the way, like just to show you what I mean, I'm going to go on to Apex right now and I'll show you like how cheap it is to buy a $100K account. Like this is $297 a month and currently they have an 80% off kind of like promotion. So essentially for $60 a month, you can get access to $100,000 in capital. And if you achieve 4R a week on $100,000, you times that by 4, that is $16,000 a month in profit that you get to keep. Of course, some extra math that you need to do that. You're probably gonna need— you're probably gonna end up like keeping anywhere between $12,000 to $14,000, but still $10,000 a month. It's not as hard to achieve as you might imagine. If you've never thought that this was possible before, this is something we help you do in bootcamp within the next 60 days. If you're interested, sign up. We're about to start our next intake. We only take on 3 people every intake just to make sure that the quality is high, and I'm basically going to be working one-on-one with you. But besides that, guys, just remember one thing. If there's one thing you take away from this video today, is that we currently have 3 potential, maybe 4 levels. You do not go short until you fill in this level and you get the change of state delivery. Only then do you take a short, because otherwise you're going to be trading into bullish order flow on the 5-minute timeframe. At the moment, 1-hourly is already bearish. The daily is already bearish. And so all you need is just 5-minute to be bearish. And if price just breaks down from here, just continue to momentum trade it. This is a bearish order block right here. It's fully valid. Just keep trading it lower. And of course, the intraday target today is going to be right here at this. I don't remember what is the name for this. I think it's a naked point of control or something, but essentially it's some footprint terminology. 110,500. That's going to be the intraday target. Of course, you can definitely have the potential to go lower. Just play it by ear. Be cautious. Today's non-news. And today's Monday. But otherwise, guys, have a great day. See you guys tomorrow.