Bitcoin: Patience Has Paid, Here's The Next Gameplan

What's up guys? So the exact scenario that we have been looking for in terms of bitcoin has just come through. In fact, it has come true pretty much picture perfect. We have predicted this move and so this video is going to be an update to the game plan. Like what comes next and how do we take advantage of this pump? Before I get into it, if you want a free training course delivered straight to your email over the next seven days, click the first thing in the description box below. But otherwise, let's get into the video. So previously we anticipated a broken base to form here and especially that is something that we wanted to see before we can confidently say like, hey, we are bullish and we can start hopping into like giga longs. And currently that seems to have happened where you get a sweep of the liquidity down here and then you break above structure, right? Try to break out above the, you know, quote pattern, came down for a retest and then off you go. This was called publicly everything on YouTube right here over the last, you know, few days. I've pretty much just been saying the same thing for like multiple days in a row. And so I'm glad it finally happened. So this is actually a really positive sign because this is a double confirmation. So initially we got the broken base, which we also anticipated back here where we swept the liquidity down here and then we immediately went on to break structure, right? This is a structure point in a very aggressive move. This is known as a broken base in trading. This is one of the highest probability type of setups that you can possibly have, especially if you already have a pre existing trend. In this case though, we do not have that trend. But still this is one of the highest probability reversal models. So that's a broken base. So what's a double confirmation? Essentially it's when you get two broken bases happening basically like consecutively or like almost back to back to each other. And in this case you have a broken base, this broken base remains intact. The way that you trade the broken base, by the way, is you draw a fib from high to low and you look for retracement into the 50% or anything in the discount. Same thing here, you look for a retracement back into exactly the 705. We draw out this line perfectly and off you go. So this broken base was not only respected, which is the first sign that we wanted to see to confirm bullishness, but we got a double confirmation. So overall, at least on the lower time frames, in terms of the 1 hourly chart, as well as the 4 hourly chart. We definitely have our broken basis. And, you know, this is looking really, really positive. And so now it's time to remove this line because we don't need this anymore. And let's remove this one as well. So now we have to look for areas for continuation. And before we even move on to, you know, doing an analysis on the lower time fr, it's time to hop onto a higher time frame just to make sure that, like, just to give you guys an idea of what's happening on the big picture. So the weekly chart, again, I, you know, I say this all the time, but we are still in an uptrend until otherwise proven. You can literally do anything between this level right here at 110,000 and 50,000. You can go up, down, left, right, inside, outside, whatever. The uptrend is still going to be intact. There is nothing that changes in terms of the weekly chart. The fact that right now you are also at a range deviation means that this is a really good area where you can anticipate some kind of reversal. If anything, 70, you know, 76,000 could have been the bottom. And we have seen this time and time again. So just to go back to the daily chart to show you a couple of past examples, this is not something that, you know, we have not seen before. You will come to realize that the majority of the biggest reversals and the biggest continuations come after a range low deviation followed by a liquidity sweep and then straight into a broken base, which is you break structure in an aggressive move right over here. Boom, boom. Broken base retrace. Or this in this case, you don't really retrace. But moving back, this is also a range super. The range lows right here. Once you sweep it, off you go. And once more, this is the bare market, you know, kind of range right here. And then you deviate it below it, and then off you go. This is not a pattern we have not seen before. And if history, well, history doesn't repeat, but it often rhymes. And if history tells us anything, then this is. There is a very high likelihood that this could be one of those reversal patterns. Now, the only problem is that in terms of the daily chart, once you take a look at the order flow here, you have a bearish order block that got broken below price, came up back into it, and it failed to close above the order block. So now we are entering bearish order flow once more. You break below price, returns back into the bearish order block, and fails to break above this is a second confirmation of bearish order flow. And you can see that for the most part, ever since, you know, we have tapped the all time high, we have just been in bearish order flow until otherwise proven. And that is going to be the keyword here. We are still bearish until otherwise proven. Yes, the lower time frames may have already started reversing, but you need to keep in mind that this block over here, until we hit or at least like $92,000, we are going to be bearish until proven otherwise. At this point right here, you can confidently say without a shadow of a doubt that hey, bitcoin is bullish and you could start, you know, just going gig along targeting new all time highs. But until that happens, we have to play cautiously, which is why I was happy to wait for confirmation signals before jumping into trades. And that leads me on to the next question, which is what the hell do we do now? So taking a look at the daily chart, if we were anticipating bullish continuation today, which, you know, given the fact that we're already in the New York and price is still kind of retracing, this is not a great sign. So I think today is probably just going to be, you know, nothing much is going to happen today. But overall what we want to look at is it goes back to what I was telling you before about how to trade a broken base. In this case, this is double confirmation. Just draw a fib from the high to the low. Sorry, to the low, from the low to the high and just look for further gaps or some kind of PD lining up with your 0705 or like just some kind of discount zone. And in this case it's going to be right here on the four hourly chart. Let's see if we can refine that further on the one hourly chart. And in fact this is, we definitely do not have a fair VI gap on the one hourly chart specifically, but we do have some kind of water block. So overall we're going to mark out that fairly gap right there. And in the event that price retraces into it, it's also going to come inside this bullish order block right here. But overall, in the event that we retrace back into 83,500 as well as 83,000, that's going to be a key entry zone. So essentially just placing a limit right there, placing a stop there because this is a strong low, this is a broken base. In fact, this is a double confirmation and you target essentially from this point onwards, you target a, you know, previous all time high. If our thesis on this being the reversal is correct, then it should head to the previous all time high without any. Much. Well, without much of a hitch. Now the second alternative. Now, alternatively, I really wish I made this video earlier because I would have definitely saw this further gap right here that got filled and right now is pumping. So the game plan for today was definitely to, you know, take advantage of the momentum and to just trade it during the sessions going long. And in this case you would definitely have had that opportunity to do so right there. Now doesn't mean that you're too late though. Right now all you want to see is for this block right here, this bearish block in terms of the lower time frame. Again, I'm mapping out scenarios here because sure, retracement would be absolutely fantastic, but, but how many times in crypto have you sat and waited for a retracement that never quite came? And so you have to also keep in mind that Price can just continue bullish momentum and you need to be ready to just ride that wave. And in this case it's going to be this blue block right here. A break above 86,167. Well, no, 86, 200ish. So in this case, a break above 86,200ish is going to give you a confirmation that, hey, you can start using this block right here as a retest zone for Price to propel higher. Now this is actually known as something called the breaker block or like a propulsion block. I don't even know. But the key here is that break above this block you have a confirmed change in state of delivery. Overall bullish order flow, one hour, everything lining up. Then this is also the 50% line retracement of yesterday's daily candle. So this could definitely be a scenario as well. But if you want like for the swing traders out there, a sweep of this low right here at 83,550 will probably be the ideal entry. Say something like this and it will be a pretty quick V shaped recovery I think as well. Whether or not that's going to come true, time will tell. Right now we just play it day by day and if you want to follow along with all of the analyses and as well as the scenarios that I'm giving you based on the smart money perspective for crypto, then click the subscribe button and drop a like on this video. It truly helps to keep me motivated to continue making these videos. Otherwise, I'll see you guys in the next one. Bye bye.