Bitcoin: Do We Have Room To Still Go Higher?

Welcome to another video. Bitcoin is at new all time highs. I cannot say that I did not predict this. In fact, for the last few weeks I have been adamant, if you're a swing trader, buy here, you're going to win. And that's exactly what happened. Now, alongside the swing trades, we have been killing it over the last week as well. Like out of the five calls that I've made last week, I think four of them were winners, not including the one that I did on Friday, which is like the overall call was correct in the sense that, you know, I predicted that things were going to go up. Unfortunately I got stopped out right before like literally 15 minutes before price started to pump and but otherwise, like, yeah, could have gotten a very good trade. To those of you who are following me on Twitter, I am sorry if I caused you to potentially lose the trade. But overall, like, if you guys were taking your own trades following the analyses that I'm calling, congratulations. This has been like, yeah, last week was really good and this week we're going to try to replicate the same results. Anyways, we are going to kick things off on bitcoin today. I'm going to start by talking about the just kind of higher time frame stuff and then we're going to get into the lower time frame stuff. But this is what I'm seeing right now. It's going to look a little bit shaky. So let's kick things off on the weekly chart. The beautiful thing about last week is that in one singular candle it just removed all doubt and all sorts of hesitation that bitcoin was having in terms of going back into another bull run. Now again, I cannot say that I did not predict this. In the last month we got the first rate cut. This month we're predicted to have another rate cut and potentially another one like before the end of the year. Now all of this means that in the next three months the economic condition, right, this environment that we're going to be in is something that's going to be really conducive for risk on assets to pop. I know that's a bit of a mouthful, but just understand that these types of economic conditions are what we have been waiting for since 2022 when you know, the interest rates started going sky high, all the way up to a 450 basis points. This is the first time in the like last two to three years where the USD interest rates have been dropping again. We've got the macro conditions, we've got the fundamental conditions checked and then we move on to the second one, which is price action, right? Take a look at market structure. What part of market structure in this entire chart here looks bearish to you? It doesn't. Price is just going up, right? Higher highs, high lows, higher highs, higher lows. Until one of these higher lows are breached, you are bullish until otherwise prove it. And right now you are bullish as then not only market structure, but if you just take a look at order flow, right? Boom, you have a favorite gap. Price bounces. Price finds a bottom at the February gap, Price finds a bottom at the fertility gap, Price finds a bottom at the order block. And now price has formed any order block on the weekly chart. Now this entire block here is now your new level of support that in case price comes back into, you are going to look along here to go for higher prices. Same thing that happened here, right? Again, these macro charts are really easy to play. It's really straightforward. As long as you're able to understand the trend on these higher time frame charts, it becomes really easy to catch these kinds of entries, right? It looks like magic where, you know, oh yeah, you know, I'm able to predict the bottom or whatever. But the truth is it's easy. Only thing that makes this really tough for most people is the fact that this is happening on the weekly chart, which also means that it takes time. It's going to take weeks for any sort of move to play out at a minimum. And so if you lack the required patience for these types of long term plays, guess what, you're not going to be able to reap the benefits of these long term plays. But that's also fine because we're going to talk about intraday trades as well. But for those of you swing traders out there, just understand that this is what you're going to be looking for, right? Some kind of retracement. Of course, because we closed Bullish on the last weekly candle, we are bullish on this week's handle. Anyways, going down to the daily chart, we also closed Bullish. Bullish, bullish, bullish. In fact, we had six straight days straight. Bullish closes. And so we're going to be looking for bulls, we're going to be looking for longs. Now the only problem is that based on what I'm seeing here on Monday, the price action has been looking horrendous, like straight trash. Take a look at this. We have an Asia range that goes from 123,000 to 124,000. The London session has been chopping around in between the Asia range not showing any indication of breaking the high or the low. This is a problem because if we are long for the day, ideally we want these relatively equal lows below the London session here as well as the Asia session to ideally be swept before we dive into a trade or at the very least to break above the Asia high, show some kind of continuation in terms of order flow before we jump in. So we're still going to look for this today. But just understand that based on how market conditions, or rather based on how the price action is shaping up right now it's not looking like the highest probability date. In fact, when you go down to the one, sorry, when you go take a look at news, there is one saving price. It's the fact that today we have Euro news and GBP news. And I know usually we tend to look at USD news when it comes to, you know, news events for Bitcoin because those tend to be much more significant. But the fact that the price action during the London session has been so choppy leading to leaf that it's setting up for something bigger during the new session later. So potentially we can do something with that. Although chances of me doing something with this is very unlikely. I'm currently in Korea, probably can tell and this is going to like the news is going to drop basically at like 2:30am my time. And so it's very unlikely I'm going to be doing anything about it. But I can give you the prep work or the necessary prep work to help you take advantage of this and to make some money. So anyways, what you're going to be looking for specifically before I tell you that we actually have to look at a one hourly chart, let's not get ahead of ourselves here because without understanding the higher time frame, it's very hard to go into the lower time frame. So in terms of the one hourly time frame, you can see that the order flow is very bullish. Price ended up bouncing from this order block right here and so far you are forming a new bullish order block. So there are two ways that this could play out. One is you have already retraced into the order block. So right now you're going to look for price to pump higher. Right? Anytime after I post this video, as long as it's within today, if you get a candle close above $124,000, that's going to be the level that you're going to want to look for for price to come in and you're going to treat this as Your new level. Early on, I also marked out the fact that there is going to be a potential Asia low sweep, potentially sweeping out these relatively equal lows right here pumps. That is also a valid setup where you either get a liquidity sweep down there, which is exactly what happened last Friday, by the way. Like there were two ways that things could have played out that we go onto Friday. So this was Friday, remember? This was the liquidity level that I marked out. Now, price could have bounced from this order block right here, which, you know, eventually it did. But before that you had some kind of liquidity sweep first. This is very normal. The reason why this happens is because of smart money manipulation, a lot of people are placing their stop losses underneath this level. Guess what happens when everyone and their mother is looking at that level. That's right. There's a lot of liquidity there. It means that the market makers have a lot to gain. They managed to sweep these people out, stop them out, make them lose money, make. Make them sell low so that they can buy low from them to eventually sell high to these retail lobbies. So by the way, when I say retail nobbies, I am a part of that as well. So that is a potential second scenario run. One is breakout and continuation. The other one is you get a manipulation before you get distribution to the other side. So both are valid and you're going to want to look for both close to the news. Right? I would even say, I would even go so far as to say you're going to look for this starting at 11am because news today is going to drop at 1pm and 1:30pm by the way, to all of the comments that have been asking me throughout the past few videos as well as all of the videos in the past, just understand that whenever I talk about news, I am never ever referring to my time zone or your time zone, whatever time zone it is. New York time zone. Right? New York. If you're uncertain if it's Eastern time or if it's Eastern standard time, whatever. New York time, nyt. That's the way that you can be like just super safe. That. All right? That's the time you're looking at. Just understand that it's just New York Times, right? It's like New York Times Day, NYC. That's what I mean. Okay, so 1:00pm, 1:30pm is when the news drops. Ideal trading hours on news days is an hour before news to an hour after news. You ideally want to be getting into our entries one to two hours before news. And then ideally we Want to be getting out around an hour to two afternoons. That's how the standard playbook for Newsdays goes. And for today it's not too, it's not too different. Ideally we're going to look for, you know, these things to happen before then next, then we're going to take advantage of it. Now, seeing how price action is currently shaping up, there is a potential that we can get a candle close above this pretty soon. Granted, I'm recording this video right now at 6am, still a little bit early. So if you do get this, feel free to just continue trading this upwards because already you have one hourly order flow confirmation on Bitcoin here. And as long as you get one hourly, sorry, five minute confirmation on, you know, order flow, which is essentially you want to see price forming higher highs and higher lows and then move most importantly, more than that, you want to trade into those newly formed order blocks you're going to trade price high. But I do have one word of caution for you, especially if you forechuckle this point in the video. So far this is not the best trading day. Like just based on how price action hasn't choppen up. I don't know if this is going to be the best. In fact, I can be pretty certain that it's not. First of all, we just got a new all time high. So it only makes sense that after this entire volatile move here, the markets always move from periods of high volatility to low volatility and vice versa. That's why people say that oh, the longer you trade in a range, the more explosive the move becomes. More that's where that saying comes from. And so you have just gotten a very high volatility mood. Would make sense if today just ends up being kind of a ranging day. In fact, tomorrow could end up being a ranging day as well because you do not have any sort of USD news tomorrow. It's not until Wednesday, Thursday and Friday when you get USD news. And those are potentially the best or rather the better trading days for the rest of this week. So if I had to bet my money somewhere, if I had to only trade three days out of this entire week, I would do Wednesday, Thursday, Friday. If I would only trade two days out of this week, I would still trade Wednesday, Thursday, Friday because those are the news days and we prioritize our trading on the news days. Let me try not to trade. And there's more news. So that's honestly going to be my call. Like a, this is probably going to be a no trade for me. But if I do see something happening on the lower time frame, I will try to take it, but I'm going to reduce my risk. Understanding that this is a low probability day doesn't mean that you cannot trade low probability days. You just want to trade accordingly. So good going half risk or taking a profit a bit sooner. So that's what I'm going to be looking to do. And for anything else, yeah, I'm going to keep you posted on Twitter. You guys already know the drill. If there are any live trades, if there is any ideas that I'm sharing at the time, I will be going onto Twitter. So feel free to follow me on Twitter at Underscore the art of crypto. Otherwise, let's talk about Ethereum real quick. You have bullish candle close. Amazing daily chart. Same thing here. I would anticipate price to actually retrace back into this further gap first before you give any sort of big bounce or at the very least this order block right here. Let's go down into the one hour chart to confirm this. Okay. That is the new order block. Okay. So there are two ways that this plays out in Ethereum. A, you get a one hourly candle close above 4600 and then you off you go from that point onwards. Otherwise you're going to come down to retrace into this further gap before you head higher based on weekly bias. Now if there is one trade and I'm going to prioritize, I'm going to be focusing on Bitcoin right now because if you take a look at Ethereum, Bitcoin, like you haven't really like broken out out, this changes. So when you get a true old season, which I assume will be pretty soon, once you get that, then yeah, 100% focus on longs. It is Ethereum. If you had to choose between Bitcoin and Ethereum for now, at least for now I'm going to take Bitcoin because it's showing a little bit of strength. So like right now like going down to the low time frames, I still don't really see too much if anything like you have broken out. Now going on to the lower time frame though, what's interesting is that you have broken out of the Asia high, so potentially you are just going to just pump straight up from here. So maybe even intraday. The intraday setup on Ethereum is a little bit more clear in the sense that you have this bullish water block right here on the 5:1 hourly chart, you're breaking above the Asia High Right now, as you are entering into the New York session between the hours of 7am to 10am what you're going to want to look for is simply even. Right now it's already good enough for a trade, to be honest, like just taking a trade right here, placing it at 2R and yeah, you're going to be good. So Ethereum, if the bullish order flow continues on the five minute chart. Yeah, just continue doing that. But otherwise let's talk about Solana real quick again. Bullish weekly bias. So far you are very much on route to a new all time high. And then in fact I wouldn't even be surprised if it happens in the next couple of weeks. Daily chart you are looking slightly bearish like, but still overall bullish. Over here you have the F G. Last week I talked about the F G being filled. So far you haven't bounced yet. Although you have a bullish bias and you have a bullish weekly bias. So we're just looking for areas of retracement for price to come back into. So it's either going to bounce from either, either one of these blocks right here. Going down to the 1 hourly chart, we have a couple of relatively equal lows right here that hasn't been swept yet. I would anticipate price actually sweeping before going upwards. But in the event that you do get a bounce from this point onwards, because this is already a valid bullish order block right here, like the setup for Solana today, if you're trading Solana is if you get in one hour to close above 233.8, that is going to validate this entire block here as your new bullish order block. And so you can use this as support, optimize to go higher. And as long as the five minute order flow confirms this as well, you're going to be good to go for a long now personally I would rather just, you know, focus the videos on Bitcoin and then allow you guys to kind of apply this to bit like Ethereum and Solana. But you guys let me know in the comment section down below especially you guys have have watched until this point in the video so far. Would you like me to continue to talk about Ethereum and Solana or would you rather me just keep it to bitcoin? But other than that I'm gonna head out for dinner. Catch you in the next one. Ciao, ciao. Korean food has been absolutely amazing by the way. Like that Korean food would be so healthy and so good like everywhere you go it's just meat. It's rice, and it's like bone broths and soups and fermented vegetables. Like, how cool is that? If you've never been to Korea, highly recommend it. Man, this is crazy weather. Getting absolutely soaked. We tried to order a taxi, but today is apparently national holidays here in Korea, so we couldn't get a. We couldn't get a car no matter how hard we tried. So, yeah, here we are walking under the rain to get some food because we're foreigners, and we cannot install the Korean food delivery app because we don't have a Korean number. Crazy, man. But absolutely crazy. But we'll make it. We'll make it. All right. We made it. Thank God.