Bitcoin: Is It Over? More Dumps Incoming?

What's good, guys? Welcome back to another video. First of all, I heavily apologize for the audio yesterday. First of all, we didn't have the editor. He was on a flight. But secondly, like, I ended up recording the video with Brain FM in the background and that's why it like it picked up the system sounds. I tried my best already to like separate my vocals from the system sound, but yeah, that was the best that I could do, at least the best that the software is able to do. But hey, now that the editor is back, hopefully today we're not going to have any more of these audio issues. But yeah, guys, I'm so sorry and thank you guys for, you know, sitting through with it. Anyways, today we're going to try to get a win because yesterday ended up being a. I'm going to count it as a loss actually, because even though we correctly predicted the fact that, hey, Price is going to come up, sweep this high before going down, and even though the call was to wait for a 5 minute CISD and then just targeting 2R because yesterday wasn't on Tuesday, there was really, realistically speaking, there was only a 5 to 10 minute window where that entry was possible. So this is the CISD here on the five minute. This is happening after you sweep out the previous high. And yeah, there is one and two, literally two five minute candles was the only entry window. If you weren't paying attention to, let's see here, 9:45 to 9:40am Then yeah, you would have missed this. Even though this was a valid setup, the, like, the overall move yesterday was also just, yeah, severe, like completely towards the upside, which is kind of like what I want about yesterday as well. Like if Price were to end up coming over here, technically we would have already broken through a couple of bearish order blocks. And then in the event that you retrace. Yeah, you know what, long story short, I'm going to count yesterday as an L. That puts us at 92 out of the last 116 videos or other calls that I've made since February. But anyways, let's try to replicate or rather let's try to, you know, pull it back today, starting with the weekly chart. Again, you are still incredibly bearish. Like so so far that's a bearish weekly bias. And I've already mentioned yesterday, the fact that you did not get a candle close on the weekly chart above $119,000 and 400 bucks means that you do not have a bullish order block yet. Now this would have been very different if you were to close above it, then this week we could look for a retracement into this order block for further continuation. But the fact that you didn't close above it and yet you still formed a new all time high, means that currently we are going to be trading towards the downside until proven otherwise. Now going down onto the daily chart there is, it's also a similar picture. Yesterday we talked extensively about how the market has an objective with every move that it makes. Like every pump is aiming to take out buy side liquidity and every dump is take aiming to take out sell side liquidity. What does that mean exactly? I want you to imagine everyone who went short at any point here you're going to set their stop losses above this level. Why? Because all of us are taught that hey, when we take a short, we place our stop loss above a previous swing high and in that case it's either going to be here or above these relatively equal highs. And so what you get here is a very concentrated pool of people who have their stop losses where if the market were to get here, they would realize some kind of loss. And that is exactly what the market makers want. I want you to remember that the financial markets is a zero sum game, meaning for every dollar that you win, you're not just making it out of thin air. That dollar that you win was taken from someone else that ended up on the side of a trade and they lost money. And most of the time when you do win money, the counterparty on the other side of the table is the market makers, the smart money, the exchanges, the brokers. And obviously it's in their best interest to want to make as much money as possible. And to do that, here's what they have to do. They have to stop out as many of you as possible. And so that's why we teach what we teach. And that's why like this trading methodology that I talk about on these videos publicly is has such a high win rate. Right? We're trying our best to reverse engineer what the smart money is thinking so that we can trade alongside them towards their objectives that they want to achieve, rather than trading on the side of retail. And if you would like to learn this yourself within the next 30 to 60 days, feel free to click the first link in the description box below. But otherwise, let's get into like the daily chart again. We have already taken out the buy side objective, which means right now we are moving steadily towards the sell side objective. If we get a candle close below this level right here in fact, we already have actually like yesterday we got a candle close underneath this level, which means that we've already gotten CISD from the daily chart. So yeah, right now the daily has already temporarily flipped. Bearish. But just remember, if you are a swing trader or if you're a general investor, or if you are just in general like holding spot, don't worry about it because if you take a look at just the weekly chart, we are looking absolutely fantastic. This is high highs and high lows, which basically means that on the weekly perspective until you break below $98,000, you are still very much good to go. The bull market is still very much intact. Forget about what everyone else is saying about oh yeah, you know, this is definitely the fact like the top. And the fact is nobody is able to predict this. We can reasonably say that the trend, the market structure is still very much intact. Or if we just take a look at the central bank rates even. There was once upon a time, that was not too long ago, where for example the Aussie, the great British pound, the Euro and even the New Zealand dollar, they had interest rates that were very close to the United States dollar. And over the last couple of years that has started to go down now. And the USD is basically the only kind of like currency that hasn't did that hasn't done like bigger rate cuts yet. And September is when we're going to get the next kind of like interest rate event. And so there is a lot of talk in the air right now about the fact that the rates are going to go down starting next month. Like September is basically the start of Q3 is, sorry, the start of Q4 as well, which historically has been a pretty good, you know, quarter for crypto. Like I'm not one to make predictions, especially not on the long term, but just understand that right now there is no sign in the market that's telling you like, hey, you know, the bull market's over. Sell everything and just get out. Even if you look at stuff like the S&P 500 or even the Dow Jones or the NASDAQ, these are all still making higher highs still. And you only get this when the financial environment that you're in is risk on. So even on the traditional assets, it's reflecting the performance of like risk on assets. And Bitcoin is probably the king of risk on assets, right? This is the most risk on, of risk on assets. And it's only normal that once you take out the new all time high or once you form a new all time high you just go for a little bit of a retracement. Perfectly normal. It's just the way markets work. And so to those of you who are holding, you know, long term, don't panic. You're still good. Like nothing's changed. In terms of the long term, if anything, this is going to give you an opportunity to, you know, stock up on more Bitcoin or stock up more altcoins. When price gets to $112,000 as well as $110,000 like this, two zones right here is going to be where we're going to be looking for some kind of retracement to load up on new positions. Okay? So no panic. Just let the market play its course. Like this is all happening on the higher time frame, which means it's going to take some time, more time than you would expect. It's just the nature of higher time frame moves. But anyways, on the daily chart, going down to more of an intraday perspective, so far, the daily bias is bearish. And so today we're going to be looking for shorts. Now, coming down to the one hourly, the bearish order flow is still very much intact. And even right now, we have gotten a cisd. Again, not really even a cisd. It's just like trend continuation, basically, like right here. The fact that you get a candle close beneath this low means that this is changing state of delivery. So again, we're going to be looking for bearish order flow to trade from for further continuation to the downside, that level at the moment is going to be right here on this fertility gap right here. Now, if we go down to the lower time frames, we can see that this is currently one of the weak highs on the lower time frame. And so if you were to come into this level right here, you're going to sweep out the week high. And then if you get just some kind of changes to delivery, boom, that's going to be an entry. Place your stop above here. Target 2R is going to be pretty straightforward. Now, in terms of the one hourly chart, we only realistically have this F gap right here. Another F gap, or rather another level is going to be right here at this bearish order block. So I think our efforts are going to be better focused onto the lower time frame where we can identify another bearish order book right here. Now, one of the things that is worth reflecting about the call that I made yesterday is if we head onto the one hourly time frame Yesterday, I was basically dead set on the idea that, hey, once you sweep out this week high right here, you're going to fill in this fav gap and then you're going to go down. Which in fact you did right? Again, you did. It's just the timing window for this was all happening within a 5 to 10 minute window. And so you had to be locked in. You had to be at the chance at that very moment otherwise you would have missed it. The overall move though ended up getting rejected off of this second f the gap right here and now usually, usually I do talk about the fact that I cannot predict which level is going to be the top. I do talk about this a lot. And yet yesterday I made the mistake that I kind of advise against because I was so tunnel visioned that I basically just paid attention to this one without marking out another PD array. And so today I'm gonna learn from my mistakes. So at the moment I do think that you're gonna get some kind of a sweep similar to what we got yesterday where if you sweep out this week high right here, you're gonna fill in this further gap you are going to dump. There is going to be some kind of reaction. But do not discount the fact that you also have a higher order block right here. And so in the event that price retraces all the way up here, it's never too late to jump into a short then because yesterday that is exactly what happened. Price ended up coming to that second higher favorite gap right here and then you get exchanges data delivery and you get a much bigger move towards the downside. And another thing to keep in mind actually is we still do not have news. Like we have Canadian news. Which fun fact if you were following me on Twitter yesterday, I actually called the Canadian trade yesterday which was completely spot on. Like if you take a look at this, boom, this is the Original post at 4am basically of London during the London session. USD Canadian, if you get it marked out this level right here and then kaboom few hours later came into that zone and bang. Like feel free to follow me on Twitter if you would like just ideas on trade ideas that is outside of bitcoin or maybe you would just like some alpha or maybe if you would just like to get more updates other than my YouTube videos. It's underscore the art of crypto. Also let me know in the comment section below if you would like me to do a little trade breakdown of that USC Canadian because I do that often even on these regular videos that you guys see. Like it's one of the bread and butter frameworks that I have at my disposal, which is also something that I help you copy paste inside Bootcamp by the way. Like you get access to all of these plug and play frameworks. But anyways, if you'd like me to make it kind of like a trade breakdown, feel free to let me know. But otherwise, yeah, the other thing to keep in mind today is the fact that there is no news like Tuesday we have Canadian news, we have New Zealand news. If anything, these are the two pairs that you want to focus on trading at the moment. Now for USD you have Wednesday, Thursday, Friday. Probably establish that fact that a lot of the true volatility for the rest of the week is going to come on Wednesday, Thursday, Friday, especially on bitcoin because bitcoin tends to react to USD rent news at the moment we still don't have that. And so today just play it safe. Just like yesterday, whatever trades that you do take, everything is aligned. By the way, like it doesn't mean do not trade today because on the daily chart it's aligned, weekly chart is a aligned one, hourly chart is aligned. Like everything's there, even the five minute is aligned. You have like good session profile setting up as well. Just be a little bit cautious that you're going to get a little bit of shenanigans. Just like what happened yesterday where like the idea was correct but price just didn't move as cleanly as we would have expected. And hopefully today I have reflected on because I've reflected on the mistakes from yesterday. This is going to be all good. But yeah, guys, I'll see you tomorrow. Cha cha.