Bitcoin: Setting Up

What's up, guys? Welcome back to another market update. Yesterday we talked about a potential New York reversal, and yesterday a New York reversal is what we got. And in this video, I'm going to give you guys the game plan for today as well as the rest of the week. So without any further ado, let's dive right into it. Starting off on the higher time frame again, we're in this weekly bearish February gap. Today, like today, we started tapping into it. And so if we follow the overall higher time frame bias, we will be expecting more downside today. Although the moment we go onto the daily chart, you can start seeing that the picture becomes a little bit less clear. So even though on the higher time frame we are anticipating more downside, the daily chart yesterday gave us a bullish candle close after sweeping below this low. Now, for those of you who remember and those of you who have been following this channel over the last month or so, you will know that a sweep beneath a level and a failure to close below it signals upside potential. And of course, of course, a sweep above a previous level with a failure to close above it signals weakness. And that's exactly what we got. And that's exactly what we called. And so the fact that you have swiped that level and you did not close below signals potential strength. And so even though overall the higher time frame is towards the downside, I don't feel very comfortable shorting today. Especially when you also consider the fact that today is a non news day, meaning the only piece of written news is coming tomorrow, which is the FOMC meeting minute, which I believe is going to be a pretty impactful event given how Trump has been literally, you know, pointing a middle finger to all of the markets in the world. Pretty much every market, major market, is collapsing at the moment. Not collapsing, but like, you know, it's dropping between 5 to 10%, which in the traditional finance world is considered a collapse. So today has no news. Again, we've mentioned it yesterday. The first half of the week is probably just going to set up for a larger move that happens starting on Wednesday morning. And today is going to be a really telling day because if we get a bullish candle, then that means tomorrow we're probably going to get a market maker sell model. And I don't think today is going to be the trading day. Why? Because even though we got a bullish candle, price is still overall in a bearish trend. So it doesn't feel right to just go long here, but because we're in an overall bearish trend because we're in an overall bearish trend, we want to be looking for shorts in the moment we go into the lower time frames, you start seeing what the problem is. If you take a look at the one hourly chart, order flow is bullish. Market structure is bullish. Now, the one potential trade setup that we might get today is, is I want you to pay attention to this candle right here. If you get a break below 79,000, basically, and you come to retest it sometime during the New York session, because as of the time that I'm recording this, it is almost the end of the London kill zone. And if you potentially get something like this happening during the New York, maybe you might have a setup. But again, there are quite a few, you know, areas of, let's just say order flow that you need to break through in order to, you know, give you a really aggressive dump. For all we know, Price is currently just trading in a range where that's your range high, that's your range low, and until you sweep the range high, you don't want to necessarily be taking anything. So again, the TLDR for today is that it's much better to wait for tomorrow because we will have news tomorrow and it's going to be a very, very impactful piece of news given what Trump has been up to lately. And today is probably going to be a no trade day. And this is generally the same when you look at, you know, other assets as well. It doesn't feel quite right to go short right now, but it doesn't feel quite right to go long as well. Now I could be totally wrong here and price would just move aggress clear today, who knows? But I would much rather wait for higher probability conditions than try to force something where I don't see a clear setup. If that's one thing that I've learned over the years that has saved me from losing a lot of money. It is that one piece of advice. And speaking about advice, for those of you who have been trying to figure out this whole trading game for years and still have not gotten results yet, similar to Dustin's story where he paid over $10,000 in terms of trading education and he spent multiple years doing this, and in just one and a half months after joining the OC bootcamp where he works basically one on one with me as well as Sid, this is a result. He has passed his first ever funding challenge. Granted, it's not a big account, but still this is the moment where in all of the years where he's been trying to figure this out himself. Couldn't do it. And in one and a half months he's done it. He has taken his first real step into becoming a full time trader. If you're sick and tired of spending all of these hours in trading without knowing if you're doing it right or if you're doing it wrong, we're about to start the next intake of the AOC Bootcamp in a week and currently we have two spots taken. We have one available left. We have one more that's available. If you are interested in joining this next intake and stop wasting your time, click the first thing in the description box below and book a call. Otherwise guys, this one's just a quick one. Honestly, because there is nothing much to update. Price is still just setting up for what I believe is going to be a aggressive Wednesday. So if you want to stay tuned for more updates, subscribe. Drop a bell notification because I'll be coming to you guys with another video tomorrow. Cheers.