Bitcoin & Crypto Market Update: What to expect this week

Hi guys, in this video we're going to talk about Bitcoin and Ethereum, giving you guys exactly what to look out for and exactly how you can make money over this upcoming week. And besides that, we are also going to talk about a few interesting altcoins for you guys to take a trade from, uh, namely those are going to be AVAX, Chainlink, Solana, and one very popular coin recently called Render. And if you're interested, let's dive right into it. And so let's start off with Bitcoin. About 2 to 3 weeks ago in one of my inner circle calls, I already mentioned the fact that we were going to come back to $26,000. 600, and that was very likely to happen. Let me break down why I drew this arrow like that and how I saw this coming. Firstly, there was a daily fair value gap over here. You see this block here? That is a fair value gap where basically there was zero price action throughout this whole block until the price came to fill it just a week ago. And there was no price action here as well. That is what you call a fair value gap. And these are levels that price tends to retrace to that nobody seems to know about because only the market makers and the smart money know about this. So the moment you can start to identify these and Start seeing them on your chart. That is going to be all the magic that you need. You are able to catch bottoms that literally no one else is able to spot, and yet I already called it. I called that retracement down. Now secondly, how did I know that it was going to come down? Well, firstly, you broke structure here during this move. Here you broke this previous swing low. That is a break of structure, and then you retraced back into where you retraced back into a daily bearish order block. Now bearish order blocks are sort of like smart money sort of quote unquote resistances. I don't like to use the word resistance, but let's just say that this block here is an area where they will look. To offload their long positions and start getting into short positions. And so you confirm that with a lower high over here and then a second lower high. But either way, we saw this coming for like a whole period of like 2 weeks. Then it started going down, no surprise, and then it came all the way down to the monthly FVG retracement level. So what's next? Well, it's probably going to go up. This is a very high probability area, and today is Monday, and as of the time I'm recording this video, the Asia session has just opened. And usually Monday tends to be a false move Monday. This happens every week. Monday tends to take out the weekend lows or take out the weekend high, but either way, Tuesday, Wednesday, Thursday tends to reverse Monday's move. Given that we're opening lower, I'm expecting the price to actually just take out the weekend low at the moment. So Monday has already taken out the last weekend's low. That tends to happen every single week as we exit out of the weekends. That first move tends to be the false move, and the move will not continue— like, the true move will not continue until both sides of the weekend range. So let's say range is like that. Price will not continue in its original direction until both sides of the weekend range has been taken out. And why do they wanna take that out? Simply put, there are a lot of retail traders out there that are working 9-to-5 jobs and they're only able to trade on weekends. And so in the weekends, they're gonna be looking at the markets and be like, oh, you know, price is doing this, price is doing that, I need to get in. And so they get impatient when in reality during the weekends, the majority of the market makers are— you look at New York, you look at literally every single major market in the world, is closed during the weekend, and the only people dumb enough to trade on the weekend are the retail traders. And so there is a lot of retail liquidity built up on both sides during the weekend because they're going to look at this like, oh, you know, price has hit resistance, price has hit support, you know, quote unquote support, time to long. When the week opens back up again, the market makers can see all this built-up liquidity on both sides of the weekend range, and then it's as simple as taking one out, taking the next out, and then continuing in the true direction. That's how it generally works. So Monday, false move. And so if we want to see price following along the trend that I already drew out, we want to see price start to go up tomorrow. What are the levels that you can look to get in? And now that we've zoomed into the 4-hourly chart, we can see that this is the previous weekly low at about $26,300. If price does retrace all the way back to $26,300, which at the moment it is looking like it is likely to do, then that is the level that I would get in from. Um, ideally I would want to wait for price to retrace back to 26,050, back to the fair value gap. Um, don't know if that will happen, but I can get in at these 2 levels and I will set my stop just beneath these, like this wick here. Why do I not expect the wick to get tested? It's because there is candle bodies here. Candle bodies represent institutional areas of liquidity. Now most of the trading volume tends to happen in the bodies, it doesn't happen in wicks. For example, in a 4-hourly candle it could literally look like this and then the candle would still look like this. So you don't want to use the wicks because that is so easily manipulated by these market makers. So you use the body instead, where the majority of the trading volume is located. You can also say that the majority of, like, the smart money stop losses are placed beneath the bodies. If you do come here to take out the liquidity, it's going to be here at this level or the 0.5. Now this here, big long wicks that take out liquidity, are also known as rejection blocks. And the way you use rejection blocks is similar to a fair value gap. You draw it, a fib on it, and then you look for the 0.5, and then that is the monthly FVG retracement level. And then bam, right? So you can enter on this here and the 0.5 here, and then stop loss there, and then the target is literally all the way up at minimum, right? At the minimum you're looking at $30K, but ideally if we start going up, I think $35K is zero, like absolutely no problem. So that is easily a— let's take a look here. We do get If price does retrace back to the 0.5 of the fair value gap, that is a 30R trade. Means for every $100 that you risk, you are going to make back $3,000. So you can do the math depending on how much you want to risk. But again, I don't say this as financial advice. This is just what I would do as a trader. And of course, I manage risk. You should manage risk as well. Just never risk more than you're willing to lose. For me, I just do 1 to 2% of my account on every single trade, and you should do that too if you want to have a sustainable trading career. Now that's Bitcoin. If there is any updates whatsoever, you are going to want to follow me on my Twitter because that is where I will post any emergency updates if there are any emergency updates. So now that Bitcoin is done, let's take a look at Ethereum. Now this is not a very popular coin because it is looking much, much weaker compared to Bitcoin, but there is a couple of saving graces assuming that today is also— in fact, we can't talk about Ethereum if we don't look at the CME futures gap because if we come to the CME futures chart, you can see that there is a fair value gap, or rather a CME gap here, which is very similar to a fair value gap. And it starts at about 1530 to down to about, let's see here, 1440. So that if like if price does retrace back into this level, that is going to be like the best area to buy. But like if price retraces back to this area, then there is no way that Bitcoin or the theory that I that I just shared with you is going to hold up. And again, just one more thing about that Bitcoin trade. This is just a very calculated risk. It is in an area of very high probability, and so I'm going to take that trade. Should not follow. What I'm going to do, because I manage my risk very well. And unless you do, don't even take this, just do it on paper. Yeah, anyways, Ethereum. While this would be the ideal level, most of the time you don't really get ideal level. So if you are trading Ethereum, which I don't really trade Ethereum right now because compared to Bitcoin, I would much rather choose Bitcoin right now. It's just showing much more clear direction. But if you do want to trade ETH, this is what you can do. If you just hop back into the ETH chart, again, similar theory, again, similar situation on the short term. You have the weekend range right now, you're taking out the weekend range. Low. And so Tuesday, Wednesday, Thursday should reverse that move. Now let's look at any possible, you know, areas where you can, you know, hop on in. And you can see that right now it has just taken out the 4-hourly institutional area of liquidity. So will it bounce here? Well, if Bitcoin continues lower, then not necessarily. But here's what I would look for. Again, this is a rejection block. I would look at the 0.5, that is 8,783, and then with a stop loss at 7,770, and then, you know, target much higher, just similar to Bitcoin. Although, like, honestly, if there's one bit of advice that I can give you, is that trade less but trade the best. More trades does not equal more money. More trades just means that you're exposing yourself to even more risk. And if there's just one piece of advice that I can give you, it's that, like, trade less but trade the best. Because a lot of people seem to have this misconception that trading more equals more money, because we are conditioned to think that, oh, if I work 4 hours a day And if I work 8 hours a day, I'm gonna make more money if I work 8 hours a day. But trading is not like any other job. In fact, it is like no other job. In trading, the more trades you take just means that you're exposing yourself to even more risk because nobody is a 100% win rate trader. So imagine this, right? If you're a 50/50 win rate trader, the more trades you take means the more losses you'll incur, correct? So most people are not 50/50 traders. In fact, they are much worse than that because they don't have any risk management and they just don't understand your strategy very well. They've never backtested this strategy at all, and they don't even know what works and what doesn't. And like, it might even be the first time that they're listening to these concepts of liquidity. So trade less right now. Bitcoin is looking much stronger than Ethereum. Go with Bitcoin moving forward for the rest of the week. If you've watched until this point in the video so far, and if you have listened to what I said just now about how most people don't know what they're doing, I'm about to actually release a free course that is actually going to change the way you trade. Now, most free courses are absolute garbage, like complete trash. Like they just teach you the absolute basics. This is not going to be one of them. When I say it's going to change the way you trade, I mean it. This course is gonna be getting released somewhere in the next 2 weeks. And right now we do have a waiting list and we are going to limit the amount of people that can join this free group just to control quality. So if you're interested, highly recommend you check out the link in the description and sign up for the waitlist. And now let's get into a piece of news that is going to be very, very interesting. The event of the week is that Tether, issuer of USDT, the largest stablecoin, is planning to buy Bitcoin regularly with its surplus profits. Now, truth be told, the fact that Tether has been manipulating the price of Bitcoin using— because they are the ones that issue USDT and majority of the liquidity from in the crypto markets right now is, you know, part USDT. So the more USDT is in the crypto market, the bigger the crypto market cap. So it has been a very longstanding conspiracy that Tether has always been manipulating the price of Bitcoin and the crypto markets in general because they control the supply. But now they're just sort of coming public that, okay, they are going to be actively publicly manipulating the price of crypto. Now this can be a good thing and this can also be a bad thing. Now the good thing is that Tether now has a legit reason and a publicly legal, you know, sort of way to push the crypto market cap during the next bull market to heights that we've never seen before. And it's going to be heights that is absolutely insane. The bad thing is that Tether has always had controversies surrounding them, such as Not being transparent about the amount of reserves that they hold and the fact that every USDT is not backed by $1 in the bank. In fact, it is nothing close to that. And this is alongside the fact that literally like once every 2 weeks or once every month, you're gonna get some sort of news related to Tether and saying like, oh, they are insolvent, they are getting into a lawsuit, or, you know, whatever. It all has to do with the transparency and the fact that they are publicly saying that they will be buying Bitcoin regularly with its surplus profits. That is going to cause much more, you know, legal trouble and potentially a lot more FUD. So that's the interesting news event of the week. Now let's take a look at some interesting altcoins that you guys can potentially take advantage of. Now these altcoins were actually suggested by the people who follow me on Twitter. So what I do every week, what coins do you want to see me do? And I look through them, and if there's something good, then I share it in the video. So if you want a chance to be featured in next week's video, then look out for this post on every Sunday. Anyways, the first coin that I want to talk about is actually AVAX. Now AVAX is in a very interesting spot because right now if you just take a look on the daily chart, you can see that there is a range high and there is clearly a range low. If you— if I draw it like this, it should make a lot more sense. In fact, the range low is actually here because remember earlier on I talked about the institutional areas of liquidity, how that is concentrated at the bodies. Currently you can see that the range low has already been taken out. Now truth be told, I think that based on the chart Based on the way this chart is looking, it is going to go just a slightly bit— it's going to go just a slight bit lower. I have about 2 areas of value that I'm looking at at the moment. Now, where it's at at the moment is already a good buy, but ideally if you can come to 13.80, 13.83, that is going to be the ideal level. Remember how earlier on we talked about Bitcoin and we talked about the fair value gap right there? Now, fair value gap, you draw a 0.5 fib on it and that's the level that you get. In fact, I have an indicator that marks this out right here. And so that is the level that has not been filled, at least on Binance. And that is the gauge that I'm using for this chart. And until that gets filled, so I would expect something like this. And then as for the target, it is going to be— if you just draw a fib from the range high to range low, going to be the 0.5. So you would expect to take profit somewhere around this level here at $18.5, and then potentially even $21 and beyond, because after you take out a range low, you take out a range high, right? Eventually you're going to deviate, right? But eventually you're going to expand out of the range, and when that happens, then you are definitely 100% going to target this level here at $30 of AVAX. But for now, let's not look too far. This is a weekly video after all. If there is anything interesting on this chart, I will do an update next week or on just on my Twitter. But for now, um, this level here at $13.83, $13.84, that's going to be the level to watch. Once it hits there, then we monitor the price action, see if it's showing any willingness to go up And if it does, then we take long. Bam bam bam, did that. Or 12.95, although I wouldn't necessarily lean on this one. The trade I'll be looking for is just at the 0.5 of this fair value gap here. So that is AVAX. And now let's take a look at Chainlink. Chainlink is also not as interesting as AVAX, but still, you know, fairly interesting. Now Chainlink right now has just taken out an institutional area of liquidity. Now the interesting thing is that I was just looking at this chart 3 hours ago And it was coming down here. I actually wanted to place an order here, but sort of went for breakfast and forgot about it. But anyways, remember how I said institutional level here? That's been taken out. And the reason why I would be inclined to buy here is because it is a pretty con— it's a pretty calculated risk. Now, assuming that Bitcoin doesn't just dump the market right now, then it's not going to go much lower than this. But just taking a look at the chart, the fact that price has closed above This previous high here means that this whole block is now considered a bullish order block. And now you've just taken out the sell-side liquidity. Now, unless you are trying to go for this sell-side liquidity, which at the moment it could be a 50/50, just a coin toss, we're just simply going to bounce from here, right? Something like that. So there will be 2 levels that I will be looking, and I'll tell you what setup I'm looking at. And the second level is here at 6.145. Now, the setup that I'm looking for is exactly the same as this. Once you take out either one of these levels, you want, like, let's say you take out the level, right? I want to see a candle close, a bullish candle close that engulfs the previous sort of, uh, down candle. Then once that happens, this down candle gets confirmed as a bullish order block. And so that is like, once you confirm the bullish order block, you simply wait for price to retrace back into the bullish order block. Ideally, you want to draw a fib on just the body of the bullish order block, um, that is if you're using the higher time frame. If you're using a lower time frame, you can consider Using the wicks as well, but I'm gonna use the bodies again. I am a big believer in the institutional sort of liquidity concept, and so 0.5 right here. Wait for price to retrace back to the 0.5, and then a bam! You target minimum here, this previous high here. But no, actually, yeah, minimum at here, 7.2. So if this trade does work out, you know, again, you monitor this on the lower time frame. Just look for something like that setup that I just explained to form somewhere around the 15 minute or even the one hour. I would suggest the one hourly chart. And then you just ride the wave all the way here, and then you take profit. It's as simple as that. That is Chainlink. And now, you know, yeah, let's do Render first. Render could be interesting. So let's talk about Render. So Render has been like on an absolute tear over the last, let's see, well, basically since the beginning of the year where it went from like 40 cents and now it's all the way up at $3. So that's almost, almost a 10x. It's about 7.5x. But either way, there is a level that I'm looking at From the daily chart, which is right here at 3.05. That level has like— is a daily like very key level for Render, and I did not expect Render to stop pumping until that level had been hit. And currently it does look like it's stopping to pump for just a little bit. At the very minimum, I do expect Render to come back to at least 3.05 to 3.145— sorry, 3.15. So until that happens, I'm expecting Render to keep going up, but This candle could be a little bit dubious because it's such a, you know, such a big long wick, especially on the daily chart. So at the moment it is looking like Render is, you know, going to cool off for a bit before continuing to target this area. Now at the moment, because of this candle, I'm no longer leaning quite close to this level, but just keep it at the back of your mind. Either way, the reason why I bring up Render is because there is a daily fair value gap here. This is going to be the final— like, this is the only long trade that I will ever have for Render if price does not bounce from this mean threshold of the fair value gap. And hit this level, then it's just gonna— yeah, it's pretty much just gonna dump back to like $1 point something. Basically what's gonna happen. The reason why I bring this up— can you lose on this trade? Absolutely. But it is a pretty calculated risk. It's as simple as once this level gets hit, just hop onto the 1-hourly chart, look for that setup that I told you about before, and then just wait for that. And then it's as simple as that. So this is potentially going to be a 10, 15, 20R trade targeting $3.05, 2.14. Yeah, if it doesn't hit there, then it's going to go to zero, and we're going to revisit this in a couple of weeks, and then we're going to start taking shorts on this trade back down to zero. Now, this is 2.1— 2.12 is the level that I'm going to watch. And then lastly, we're going to look at Solana. Now, Solana is interesting because if you take a look at this range here, and Solana is trading within this range. Now, the interesting thing is that previously you took out the range low in a very convincing manner, and you filled in a, you know, just filled in a fair value gap right here. Now, when this happens, usually Now just to put it into perspective, I want to see— I want you to see how this is similar to this Bitcoin trade here. You have a range, right? You take out the range high convincingly, you take out the range low convincingly, and then you expand in the opposite direction. Solana is looking very similar like that, except took out the range high, well, not very convincingly, but then took out the range low very convincingly, but it did not create new highs here. So what's going on there? Well, essentially Solana is in a bit of a gray zone, but still it is still range-bound, and range trading is some of the easiest trading that you can do because it is so consistent. But right now within this macro range here, Solana is about to take out this range low here. You can see that there is this sort of head and shoulders formation. And right now you might think that, oh, this is bearish and it's gonna go down, but head and shoulders formation can also be liquidity points for the market makers because they know that retail traders are always looking at these heads and shoulders. When price takes it out, as long as it doesn't get rejected off of the neckline of this heads and shoulders, so something like that, as long as it doesn't get rejected here and then bam, In fact, if it breaks up above the neckline and then it gives you that setup where earlier on I talked about how the down candle gets engulfed by a bullish candle, and then this becomes the order— sorry, this becomes the order block, and you simply wait for price to retrace back into the order block, and then you are up and away. So that is what I would be looking for. I expect this to happen sometime during this week, um, in the next 5 days, and if not, next week. But either way, if there are any updates, I will definitely make an update on Twitter or just on YouTube next week. Now remember, if you want to learn all these methods that I just talked about in, you know, this institutional liquidity stuff, learning how to trade like the smart money, I am making a free course that is going to change your life. Going to get released over the next 2 to 3 weeks, and if you're interested in getting access to that, make sure you sign up to the waitlist. We are going to be limiting the amount of spots to control quality. Until then, see you next week. Bye-bye.