Bitcoin Looking VERY BEARISH, Stay Safe! (P.S. Sorry About The Audio Quality)

What's good, guys? Welcome back to another video. Last Friday's call ended up being absolute perfection. We called the dump and the dump did happen. This was going a little bit against the system, but ended up being the correct read. So that makes it 92 wins out of the last 150 calls that I made publicity here on YouTube. Anyways, today's video, we're going to try to replicate that success and yeah, I'll just try to get in the win. This week is going to be very interesting and I'm going to talk a little bit about bitcoin incidents from like a swing trading perspective when exports is unlikely to continue and when this retracement period is going to end basically. Now just a side note before I get into the video, our editor is currently on a flight. So this video is also going to be unedited. Like last Friday. I'm going to do it all in one take and yeah, stick around and let's get into it. Starting things off on the weekly chart, we had a bearish weekly close. Unfortunately was not bullish would have hoped and it was bullish so that you know, we can just continue all season and continue this new bitcoin ult high mania season. Unfortunately, with that last week's weekly close, we are now targeting this level right here at 112600, at least from the weekly chart. Right. This is purely for the weekly chart cancel change. But the fact of the matter is that without that weekly close above this high right here at 119,400 which is the exact level that we about last week because we didn't close above this. This is not yet validated as a potential bullish clock from the weekly chart. Which means there's not clear signs that things are going to take off yet. And so we can expect a further retracement either to this level right here or this level right here. Makes sense because this be looking at the gamma this fall. So in the event that you come all the way down slow, it's 112,000, which is a tiny bit below $101,000 but actually still all good on a larger picture that Price could retrace it to. So technically speaking like PLDR, as long as you do not break below $98,000 is still all good. There are two potential boxes or that they want you to find. And right now we just got to play patient. Don't expect things to just naturally start popping up. And most importantly is we're not trying to catch falling eyes. A lot of you who are watching my videos may be brand new into crypto. Maybe this is your first year, maybe this is your first bull market. The key thing that you need to understand about crypto is in fact this goes back to what my favorite saying of all time when it comes to trading, which is top pickers and culture pickers, sorry, top pickers and culture pickers usually end up becoming caution pickers. The meaning behind that sentence is that you try to catch the top, try to catch the bottom, you're going to lose so much that you're eventually going to lose so much money that you need to end up going to pay profit and living. And this is a current scenario that we're facing at the moment where I've seen a lot of people just oh yeah, let's hope it's a lot, this is a support level, whatever. And then without confirmation in the markets, they just start buying for that. And you wonder why you're losing money, wonder why your unrealized pump and loss is too great at night because you're not applying any solicitude. The fact of the matter is that the only ones that are going to succeed in the bull market are the ones that have a system in approach, not taking trades by random or not making decisions by random. And right now we are very much in the middle of an off season, like to set up a system and help get you from where you are, which is I guess get consistent to consistent and to at least make something out of this bull market. Feel free to click the first link in the description box below. We're about to start off that seems to use this great word 101. I help you set up a system that has allowed me to basically be right like the last 50 course that I made here on YouTube. Anyways, going into the video, now that we understand what's going on on the weekly chart, we are just, you know, getting some kind of a retracement period. Let's get into the daily chart. And in terms of the daily chart, you're also working with the bearish daily buyers at moment and it seems that price is very much heading towards that moment. So bearish, sorry, the daily bias is going to be bearish and that's what we're going to be trading with. Now some of you may see that, oh yeah, there's a bullish order right here or there's some kind of support that kind of bullish for every gap, whatever. Here's another thing that you need to understand about the market is as long as Price is a bearish order flow. Or like let me put it this way, every move in the market happens for a reason. If you're pumping there is some kind of objective that you're trying to achieve. Dumping there is also some kind of objective that you're trying to achieve. Namely when you are pumping, you are taking up buy side liquidity. While pumping you're trying to take out sell side liquidity. Now buy side liquidity is simply anyone who is placing there. Anyone who went short basically has their stop loss placing. But it is not second third party that is very common is the breakout traders. People that are like oh yeah, bitcoin just broke new all time high. Let's, let's say it's a good idea to go long here, right to break our traders like vice versa. When price breaks, resistance will be people out there that will be like oh yeah, support level has been broken. Let's, let's go short there. And, and that's like the most backward kind of logic ever. And honestly it's something that only retail traders are able to come up with because I'm sure it doesn't take a genius to understand that way you make money in the markets is by buying low, selling high, not by buying high, selling low. So you can start to see how breakout trading is not necessarily impossible to make profits with but like it's a little less likely. Right? Purely due to that logic. But anyways, right now, the fact that we are dumping right now means that we are heading towards kind of suite liquidity objective. Okay. And so that level is going to be just similarly to the weekly chart. We are heading towards this level right here, 112,000 basically. And so I do think that the weekly objective is going to be towards this level right here and a potential for price to bounce here or here. Right. You're seeing how I'm applying my hydrant to as kind of like a guide to right top down analysis as other people would say. And you'll see how this is able to get me so much more clarity into the traits that I am leaking. And speaking of which, if you guys haven't already followed me on Twitter like do so because like for example I'll say like price is either going to dump next level with this level right here and if you would like just for frequent updates from me outside of these YouTube videos then yeah, underscore the other crypto. We are posting trade ideas not just on crypto but also just forex traditional finance, even stuff outside of bitcoin. So sorry about that anyways, going down to the one hour chart is to the setup for today is going to be pretty clear in the sense that because the daily bias is bearish, the weekly bias is bearish going to be looking or short. And it also just so happens that one hourly order flow is also bearish. This was the first change delivery. After that retrace a bit from the new low. Retrace back to this blue box right here which is the very short blow and failed to break above it. In fact you break lower and they form a new low. So clearly prices have very short flow. And we try to follow the trend each and every time. As famous say goes trend is a friend is not being moved out of anyone's horse. Because this is true. Like the more you can trade with the trend, the more money you're going to make with less headache. Like just try to see for a moment if you were to go counter trend. These are the materials, the movement of up moves. This is the D up moves take much longer to happen. The magnitude isn't as big. Down moves explosive boom explosive. And meanwhile you have up moves that are like slow, choppy, very unsurgent and really tough Trade in general. This is just a prime example of trading with a trend at play. Anyways, taking a look at one chart we have two. Two levels that you're going to want. Three. And the very moment that I'm recording this video, price is already getting, you know, just falling, you know that amount already. And so this setup for today is going to be straightforward sometime between hours 7 to 10am which is basically just in your pay session in order to just move it and trade things lower. Now price could retrace all the way up here before going down. Price could also sweep out these highs right here at 115,700 basically filling it this moving gap sweeping out this high before going lower. Although if I had to put my money somewhere I would say this pop right here. Because potentially if you break loop this block right here and you seek out this liquidity, you're going to basically invalidate this event short block. And that's ideally not something you want to see when you're going short. So just to translate this over to the lower tricks. Let's see like this is already a new working resistance area right of strategy is already resistance those. If you understand anything about poly programming, you know that this is from the Monday valley area. The thing about value area is that this resistance right once you break below it. Now some could argue that the once you break below the value area. This is actually known as a discount. Then you ideally want to go long to take a value area high. Hence why I mentioned earlier that there is a potential that it could come all the way up here before going lower. But based on how price is currently shaping up at the moment I think you just wanted to retrace to this higher block right here and it could start taking short. The way you would want to prioritize rather think about these shorts is that Monday today with the absolutely zero news. Take a look here. I've already made a tweet about this. Anyway, Monday there is absolutely no news. Tomorrow there is no USD news. On Wednesday you have USD news that is coming late in the day which means we are gap. We're currently having a very dark heavy news week. Now the way this is going to apply for you is is that the first couple of days, maybe even three days of the week are going to be a little bit more manipulated, a little bit more choppy until we get to basically the end of Wednesday or like in the middle of Wednesday during the newing session. That is when true explosion is a great habit. Now either that is going to get the next up or maybe we have already reached the sell side objective prior Wednesday and then Wednesday, Thursday, Friday is going to be like an explosive covering. I do not yet know what is going to happen but I can at least comprehend it among some scenarios as to what to expect. And in terms of news again Wednesday, Thursday, Friday, now Friday is going to be interesting actually because the Jackson will suppose it is let's just say a once. I think it's a once every year kind of thing where all of the central bankers in the world, they gather together in the spaceport Jackson MALL in the U.S. the source of money U.S. federal says that they're going to look at just make evil plans just like the evil masterminds that they are. So something to look, something to look for. So essentially today the reason why I bring this up is because like with DAO news there's been so many instances especially on the channel where the technical analysis makes sense, right? Everything in terms of the behavior perspective was lining up but because it was a non news day process ended up, you know, kind of trolling around that it's validating some of our ideas and in general just it's just not as high probability or as clean as a news day. And that's why ideally when it comes to trading I want to focus all of our attention or at least most of our attention at Capital into trading on Tuesdays. Today is not one of those days. So if possible to stay out of the markets. But at the very moment, I do see a valid setup. So I'm going to be taking this if it happens. But like, just understand that today is on Tuesday and like, potentially you may want to go risk than usual. Good. But if you usually take 1%, it plays more of like a 0.75 and maybe one set trade kind of day. But either way, I hope this gives you an indeed very clear idea what to expect today. Just understand that I could be totally wrong. The last thing that we want to like pay attention to is that once you get might want to retrace it to X levels. But from here, you can just totally take short right here by just time to. But if you end up going all the way up here, you want to make sure that before you jump into a short, you want to see a change in state of delivery. Essentially, the way I'm going to pick this up is that in order to get to this level right here, you're going to overcome this resistance. And so technically, this is a very bullish sign, which means that until you get a bearish change, state of the Lumi, if you get to this point, you do not want to be going short because that can literally mean that prices want to go bullish instead. Okay, that's the only thing you want to keep in mind. Otherwise, guys, I think the editor will be back. All right, so bear with me. Let me know in the comment section, by the way, if you're watching at this point, if you enjoy these parts of like, unedited videos or if you prefer just a little bit more polish. I don't know. I'm really, I'm genuinely curious. But anyways, siege work.