Bitcoin: Is The Generational Bottom In?

What's good, guys? Welcome back to another video. The setup for Bitcoin today is super straightforward. Like, I can see another big dump coming. And in this video, I'm going to break down exactly the entry that you want to look at to position yourselves and take advantage of this dump that's about to come. Besides that, for any of you that are holding crypto. And if you're wondering, hey, you know, is this the end of the bull market? If you're wondering if you should take profits, if this is a good place to buy the dip, I'm also going to discuss that for a little bit. But. But before I get into the video, it's good to recap the trade from yesterday. Like, if you guys remember, we called for price to return into this block on the one hour deschant. And the moment that happened, we are looking for a cisd or the moment that happened, we are expecting a dump. And that is exactly what happened. Yesterday was super clean. This marks the 96th win over the last 120 calls that we've made here on YouTube since February. And so if you're new to this channel, just understand that you're probably at the right place because we tend to be right more often than we're wrong now. Besides that, and if you were able to make some money from the call yesterday, drop a comment down below. Like, I read every single comment and I cannot tell you guys how much it means to me that the videos that I, you know, spend time to make every single day is able to make, just even if it's a tiny impact on, you know, somebody's lives. So, yeah, let me know. It really means a lot to me and helps keeps me going. But outside of that, well, let's finally get into that main analysis portion. Before I get into the intraday perspective, let me just, you know, spend a couple of minutes talking about the swing trading perspective. The reality of it is that the moment the bull market is still very much intact, like, that's a higher, higher high. That's a higher low. And at the moment still forming a higher high. From the perspective of the weekly chart, which is my new pretty big, nothing really changes until at the very least hit the $98,000 level mark. Right. If this happens, you could argue there is a potential, you know, changing character and, you know, price is actually just going to start reversing from that point onwards. Another argument would be, this is the range low. This is the range high. Once you sweep out the range low, you go back to the range high, right but at the very least, there is zero doubt that the bull market is still intact and it is still going to continue. And that we are in a moment right now where it's simply buying the dip that does not change until this level gets broken. But even more than that, like, even beyond that, like, I've gotten asked this question so many times in recent memory that I think it's really important for me to address this real quick because so many people are asking like, oh, is the ball run over? But like, first of all, hopefully that answers the question. But like, second of all, the mentality that I want you guys to bring into trading or investing inside Oran is that as long as price is still putting in higher highs and higher lows, or in this case, you know, bullish order flow, and in this case definitely putting in higher highs and high lows, you continue to buy the dip and just sell higher. Because there has been so many people, myself included, and I have to learn this the hard way, which is like, like I think that, oh, bitcoin took out the previous all time high. You know, it's over, right? That, that's just what I think, right? Personal opinion, the bull bull market's over. Especially because when I saw, let's say, for example, I see this kind of price action, I'm like, okay, yeah, you know, it's time to sell everything. And then from that point onwards, even if bitcoin continues to pump by another $50,000, which in this case it did because of my mindset that oh, the bull runs over and I've already sold the top or like this is too expensive or whatever, it could be anything. But the key thing is what I think is that the market is too expensive and then I stop buying and then I miss out on all of these life changing gains that I could have had if I were to just traded what the market is showing me rather than trading what I want to see, you know, on the charts. The reality is the market doesn't care about what I think, it doesn't care about what you think. Like, all it cares is that it's going to keep printing whatever it wants to print. It's a surprise action and it's your job as a trader slash investor to just focus on that and, and to take advantage of it to trade what the market's telling you, not what you want to see. Okay? So at the moment, bull run is still intact. Biggest advice to you, keep buying high and selling higher. And for a lot of altcoins, actually you don't Even need to be, you know, buying high. Because if you take a look at a bittensor, if you take a look at stuff like Kaito, stuff like penguin stuff like even like if I take a look at wi, right, this was one of the most popular coins out there. You cannot look at the chart and tell me this is buying high. Right? Right. If anything, we're about to come sweep out some previous liquidity either at this level here at 0.6 or around 0.7. Once you sweep it out, there's a potential that you can go take out these relatively equal highs right here. And this is beautiful, right? A lot of all points are like, a lot of alt points haven't started even moving yet. If you take a look at bittensor, like look, those are key levels waiting right there to get filled and then for the bull market to continue. So from a swing trading perspective, guys, just focus on what the market is telling you. And if you want the latest alpha, like I don't usually have a lot of time to talk about altcoins on the YouTube channel, but if you follow me on my Twitter, this is where I'm going to be talking about like altcoin setups and just general alpha. It's underscore the art of crypto. I'm going to link it down in the description box below. But outside of that, let's finally get into the main portion of this, which is the bitcoin ta. So on the weekly chart we are still very much okay already towards the outside, just like we talked about yesterday. From the daily chart we can see that yesterday's daily candle closed bearish, as we predicted. And so right now our daily bias is going to be bearish and we are going to be looking for trades towards the short side. So to do that I have one key level that I would potentially learn to mark out and that's going to be right here at about 112500. In the event that you return back to this level on the daily chart, this could be a potential, you know, resistance level that price goes down from. But for now, still looking good. And let's take a look at the one hourly. So the thing that I'm going to be doing on the one hourly chart is that I'm looking for PD arrays that support my higher time frame theory. So at the moment the daily chart is pointing towards the downside. That much we're clear on. So that tells me that today I'm going to be primarily looking for shorts. And the purpose of me coming down to One hourly chart is to look for PD arrays that support that theory. And immediately my eyes are going to be drawn to this CISD line right here. Potentially this liquidity zone right here and then potentially this further gap right there. Then I'll just double check and go down into the lower time frames just to see if I'm missing anything on the 15 minute chart. Don't really see much, but potentially the 5 minute chart we have some kind of gap over there or like order block. So the key here is that at the moment we're looking for price to retrace into one of three levels. One is to sweep out this liquidity. This is 100 going to happen. Given the fact that we have stopped just shy of that level right here during the longer session, we have left behind relatively equal highs. And for those of you who do not know anything about, you know, how the markets like to move or just liquidity concepts in general, every move in the market, whether it be up or down, there is always some kind of objective that it is trying to achieve. So there's a previous high right here. As traders we're always sport to okay, if we're going short, we want to place our stop loss above a previous swing high. So over here you have a concentrated pool of people placing their stop losses above that level right there. Secondly, you have now you have realistic people highs. So now people are going to be looking at this, especially retail traders, they're going to be looking at this like oh wow, this is really strong resistance that price got rejected a second time or and so that when the eventual breakout, once that happens, you're going to get a pool of just willing people, like willing buyers at high prices. Like once price breaks out, people are going to buy high and chances are it's going to trade right into some kind of higher time frame level. At the moment we have established that to be around $111,000. Once it does, you start reversing the other way. And everyone who bought high gear, everyone who got stopped out here, completely misses out on the move, right? The people that were short, they got stopped out. So they miss out on the profits on that move right there. And the people that buy high, well, they're going to get stopped out because price is going to reverse the other way. This is Smart Money Trading 101. It's exactly what I teach inside Bootcamp. And if you would like to learn this for yourself as well, feel free to click here first link in the description box below. But otherwise going back into the rest of the video at the moment we're expecting eyes to get re like just get rejected off of one of three levels. One is going to be at 110500. Second one is 1111. To be fair, that's also just the finite level because like from what we can see here, the F gap as well as the CSD block tends to line up, you know, pretty evenly. So let's say the range is going to be around $111,000 to 111,300. Is this is where you're going to look for Price to get rejected? As for the timing as to when we're expecting this, the timing is going to be anywhere between 7am to 10am New York. Note that anytime I do talk about any sort of timing, it is going to be New York time. This is the main market, this is the main mover, this is the main driver. As long as you are a trader, we always refer to everything from the New York perspective. So anyways, one other thing that I do need to talk about is that I don't actually know which one of this is going to be the talk. In fact, this is not really my job as a trader to predict, oh, Price will like Price will get rejected at $111,000. I can make a reasonable prediction, but it's also not my job to make predictions. It's planning out whatever scenarios that are likely to happen today. Ideally it should also be a scenario that gives us a higher statistical probability of making money compared to losing money. And once I kind of map that out, I'm just going to wait for Price to get into those levels. And if it does what I'm expecting it to do, bam. I enter a trade. That's what you do as traders. It's not about predicting, it's about reading and reacting and also preparing for the situations beforehand, which is what I do here on these videos. And if you like what you see on these videos, subscribe, because I'm making one of these calls every single weekday, Monday through Friday. Anyways, now that we've understood the situation on the higher time frame chart, let's move on to the lower time frame. So in terms of the lower time frame, currently we have already swept at the Asia High, which is brilliant because on a day where we are bearish, we always want to look for the Asia High to get taken up. It's a bonus. Like it doesn't always need to happen, but if it happens, it's a good day because this just gives room for Price to actually Fall to take out the Asia low. Okay. Secondly, this is happening on the London session, which is usually a session of manipulation. Although judging by the way that price action is playing out, given the fact that London has already played out and it still hasn't swept out this previous liquidity yet leads me to believe that there could be a second manipulation like anywhere between now to 7am, potentially even 8am we again, this level does not need to get filled. All you need is that manipulation above this previous liquidity level. Once you get that, and if you start getting a shift in order flow on the five minute chart, which is essentially like I want to paint a picture here, this is a bullish order block, price breaks up. Now this is the new bullish order block. Price breaks up, comes retested essentially in this entire leg here, bullish order flow was being respected until at some point right here you break down and then you respect the bearish order block and then you break lower, right? So you can say that in this leg right here you are in bearish order flip. That shift between bullish order flow to bearish order flow is what you call a chain state of delivery. And if you were to come all the way up here, or if you were to come all the way up here, it would be pretty, pretty reasonable to expect that price would be in a bullish order flow. You have to get to that point. What you want to look for is price to actually get into bearish order flow before you start taking a trade. Once that happens, it's just like yesterday, you can just trade short literally the entire day. Once price hits a level, boom, you just trade short quite literally the entire day. So similar here, once this happens, once price starts breaking down, just keep training short. And of course I can set some targets like you. We could reasonably think that, you know, the Asia low might be taken out today. But also it doesn't matter because whatever trades that I do call on the channel, it is always going to do two R, which means for every $100 that you risk, you're going to make $200 back. So just to give you an example, if I place a entry here, I place my stop there, I look for this number right here to change to two. So bang bang. Okay, so this is into our trade, right? For one unit of risk, I'm making two units of reward back. Super simple. And honestly, this is all you need to make a more than a full time living as a trader. Let's get into some kind of invalidation scenario. So essentially right now I'm expecting some kind of a retracement back into those zones. I do think that is very likely to happen. But in the event that it doesn't and Price just starts breaking lower, you're going to want to look for this level right here at where is this 109750 going to want to look at the level at 109750. Or if you want to be like super safe, you can look for the level at 109700 to get a 1 hourly close below or even 5 minute close below to be honest. And just look for Price. Just continue dumping. Essentially what's happening right now is like I'm pretty certain that this scenario is going to happen because of the. I don't remember exactly what this is called. I think it's called a single print in the context of like footprint charts and level two, if they're reading like I don't know too much about this, but I do know that this is a single print. And when this stuff happens does not tend to be like super strong. It does not tend to be some kind of level that holds for very long because it just shows that there is a lack of just proven interested buyers at this level. For Price to like bounce so far and it to start dropping means that, you know, there's not enough interested buyers here to just sustain the price and so eventually you get taken out again. I don't have a footprint chart available to me at the moment, but looks to me like a little bit of a single print. Just pay attention that this level right here is the level of a previous weekly favorite gap. So if Price were to bounce from here, it wouldn't be super surprising. Either way though, like even if Price just starts showing bullish, just bullishness, we are not going to start trading bullish, at least for today. Because this system that we trade right now requires high frame alignment, which means that whenever we do take any sort of trades, we want to make sure that all three time frames are aligned in the same direction. At the moment the daily chart is pointing towards the downside, the monopoly chart is pointing towards the downside. And so we are going to focus on taking shorts for the rest of today. And if Price actually does bounce after filling its weekly favorite, sorry, weekly order block right here, the price just completely invalidates this. Great. It means that we can start going into longs even. Fantastic. Because so far the 1 hourly chart super bearish. We have been super bearish since basically two weeks ago. Like on the 13th of August, we've just done a straight line dip down into these, like weekly, you know, bullish levels. If price bounces from here, great. I do hope that this new trade idea gets invalidated, but otherwise belongs. We're going to be focusing on that tomorrow. Today we're just going to be hunting the shorts. And of course, as usual, if you want more updates or like just more timely updates, follow me on my Twitter. That's where I'm going to be sending out. Just trade updates what I'm looking for. What trade am I taking outside of that? Let me know in the comment section down below as well. How you like this new format. And they're recording on a separate camera rather than just doing a screen recording. Let me know if this makes you more entertained or if you prefer this format moving forward. Cheers.