Bitcoin: The Bottom Is NOT IN, More Dumps Incoming!

What's good guys? Welcome back to another video. Last week we perfectly timed and predicted the pump. Essentially this was the weekly level that we have been looking at since the start of the week. Once that got filled, boom. The moment news dropped, kaboom. And once that got filled at 9am, news dropped on 10am and that is exactly when Bitcoin pumped like $5,000 within an hour. And same went for pretty much every single altcoin out there. If you manage to take advantage of that to make a lot of money, drop it down in the comment section below. It always, you know, means a lot to me when I know that these videos are helping you guys out. But anyways, this makes the 95th win out of the last 119 calls that I've made here on YouTube. So if you're new to this channel, understand that you are probably at the right place because we tend to be right more often than we're wrong. And now let's get into the bitcoin chart and try to you know, get another win, hopefully another win that is as clean as what we had. So at the moment the weekly closed bearish, which means the weekly bias for this week unfortunately is actually bearish. We did not get this huge reversal on bitcoin, basically retracing every single move from, you know, basically retracing that $5,000 pump. We would have actually been looking way better. Like I would have just told you straight up like okay, from now until like mid of next month just go long, long, long. Unfortunately because of that retracement now the weekly chart has closed bearish. And so now this week we're actually going to have a slightly bearish bias heading into it. Now this is also coming alongside the fact that last Friday during the Jackson Hole event, Federal chairs Rome Powell only hinted at, you know, current market conditions actually warning to a rate dump or like a rate cut. And it's not until next, you know, September, like mid of September. I think the next interest rate cut event is going to be around September 15 or 16. But around that time is when you are going to expect a interest rate cut. Obviously that is very good for risk assets like bitcoin and you know, all of your other indices like the stock market or whatever. So. So yeah, what we may see moving forward is just a couple of other weeks more of like just accumulation sl retracement again like a retracement period post sweeping out the new all time high is nothing out of the ordinary if you take a look at every single time so far during this bull run that bitcoin has swept out some kind of key high, you have went through quite a long period of retracement. In this case this lasted about, you know, six months. In this case, once you swept down that previous inner all time high again, this period lasted about January to April, so three months. And after you swept out this again, you had a retracement period of about a month. And so far, you know, we, it wouldn't be surprising basically. I'm not saying it's going to happen, but it wouldn't be surprising to see another, you know, two to three weeks of retracement and maybe giving the, you know, just every play in the market another chance to reaccumulate their positions before the rate down happens. And we might bounce from here or from here. Either way though, for now, because of the weekly close, we're going to be bearish at least for this week, at least from an intraday perspective. Don't get me wrong, from a swing trading perspective, you're still looking to buy bitcoin at around this price, you're still looking to buy bitcoin around these prices and you're still looking to accumulate your altcoin positions. Speaking about altcoin positions, I have already posted a few charts on altcoins. Just going to, you know, walk you through real quick. Like to look to accumulate your positions. Either here or here are the two areas that are going to be fantastic. Pengu is so far heading back towards some kind of weekly F gap and once you fill that in you're actually going to have kind of like a 3 dries formation and then you may expect some kind of a, like a bounce from that point onwards. And Kaito is also interesting like you're coming into some kind of higher time frame key level right now you have relatively equal high, sorry lows here though. So if you sweep this out and if you overcome the resistance at around 1.2, 1.3, look for a retracement back into that block flipping basically resistance flipping it into support and you can actually target all the way to 1.8. So these are like three altcoin ideas that I have at the moment. And if you want to just get more access to these altcoins by the way, just follow me on, follow me on Twitter. That's where I'm going to be posting all of these updates as well as just a lot of alpha. But otherwise back into, you know, what we were talking about before. Overall still bullish and overall we're still bullish but just in the immediate time frame, we're going to treat, we're going to trade the market the way that it's kind of like showing us right now. Like, as much as I would love for the market to just pump right now, because I hold bags as well, and there's nothing more that I would love to see than bitcoin going to a new all time high, right this instance, and pumping all of my bags by another 50%, I would love for that to happen. Fortunately, this is not what the market is showing us at the moment. And so we're going to trade what the market is telling us and not what we want to see from the market. So first things first, the last two days has been bearish and today has been pretty bearish so far. We can reasonably anticipate that bitcoin is going to head towards the 110,000 level. Not only is this a, you know, key psychological level, but also this is when the order block support kind of begins for bitcoin. On another note, we have now, if, assuming that today's candle actually closes Bearish, which I really hope not, we are going to get a CISD on the daily chart, right? This is essentially a change in order flow. You could argue that this candle actually closed, like already, you know, you got the cisd, but like, this is so tight that, you know, you can't really call this super convincing. So if today's candle closes below 112,500, this is going to confirm a daily change in order flow from Bullish, like for the first time in a long time, into Bearish. And essentially this entire range of candles here, plus this area here is going to become resistance for Price to actually head downwards, like even lower. Again, this is not super promising. Today is going to be very important for bitcoin as well as the rest of crypto. Ideally, you don't close below this level, like, we're not going to expect any reasonable sort of a bounce over the next two to three weeks. Hopefully it doesn't happen. But yeah, so far, in terms of the daily bias, this is what we're looking at now in terms of the one hourly chart, let's take a look at how this is developing so far. Well, on the one hourly chart, you've definitely got a csd, but daily shot, not yet. But just to take a look at what we have to work with at the moment, we have this bearish order block right here that if Price were to retrace to today, we can potentially take advantage of that. You have this 30 Gap right here and you have this family gap right here. Essentially what I'm doing. And this is the system that we use here at this channel that has allowed us to you know, basically win 90 out of our last 120 trades. A system that essentially we use the daily time frame to kind of set the bias, just kind of like figure out the direction. In this case on the, in terms of the daily chart, we are bearish. And then we go into the one hourly chart. We look for PD arrays that support our high time frame bias, which is what I'm doing here. Notice how I'm not looking for bullish order blocks right now. I am only looking for bearish all blocks and bearish F gaps because this supports our high time frame theory. I think a big mistake that people go wrong with is their higher time frame may be pointing up, but then they're still looking for bearish order blocks on the one hourly chart. Or like any sort of lower time frame. It just kind of defeats the purpose of having a higher time frame bias in the first place. Like, you know, if you know the higher time frame is going to go down, just look for areas that, you know, kind of support that thesis. And that's just something that I teach like throughout this channel. But anyways, so in the event that you retrace into either one of these three levels, this is going to be just key areas for you to just dive into a trade short. Another area to potentially consider, although I think this is super unlikely, is this fting up above and this order block above. The reason why I'm not really marking them out is because like, if you were to get to that level, you would basically already have changed the order flow. Like you have 1, 2, 3 bearish PD that have been disrespected on your way to, you know, filling in this PDA right here. While it is a possibility, I think it's a little less likely compared to, you know, one of these three levels getting filled instead, given how, you know, volatile the market has been moving so far. On just another note though, if you guys have managed to take advantage of the move last Friday and you did not take any profits and right now you just got stopped out, break even or like stopped out in a loss. Try not to make that mistake next time. Like it never hurts to just take some profit. You can always like, especially if you are like an intraday trader or a short term trader, understand that there's been so many times where I see people like they get into the trade Here on let's say using the five minute chart and then they set their target at like $150,000 bitcoin or something. And it's like, it really defeats the purpose of doing intraday. Like if you're executing from the five minute chart that is an intraday time frame, use an intraday kind of trading system. But and you're targeting, you're setting your targets at a level where it's only possible through swing trading, then you really have a mismatch in expectations here where the method that you're using to achieve the result is, you know, not really matched. And so if you are trading intraday or if you are trading short term, if you get a move on bitcoin that is like five to $10,000, take some profit, otherwise you know, this is going to happen. But anyways, another thing to keep in mind though is that even though we are bearish so far, there is a potential that this is a new value area that is forming right now and we have currently just swept below the value area low and we could potentially go target the value area high. So this will support the theory of like filling in this upper favority gap instead and as well as like sweeping out these relatively equal lows. Sorry, relatively equal highs. I don't think that's going to happen today, but there is a potential that could happen, you know, tomorrow or on Wednesday. In fact, let's just take a look real quick at what's currently happening in terms of news and oh my God, this week is going to be a rough week. Like the only news we have this week is on Thursday and Friday and we have basically nothing from Monday, Tuesday, Wednesday. And so yeah, ideally this week we're going to just take it easy. We're going to play really cautiously and we're going to focus the majority of our trading on Thursday, Friday. If you remember last week I did already mention that I kind of like mapped out how the early of the week was going to go and how late in the week was going to go. Like we overall managed to predict the fact that hey, you know, like this level is going to get filled on Friday and there's going to be some kind of a bounce. That's exactly what happened. And it's because I timed the market movements with news, specifically like really big news. The biggest news last week was on Friday at 10:00am Guess what time. Guess when the biggest move of last week happened. 10am on Friday. With one hour you basically like negated one, two, three and potentially four days worth of price action in one hour because you had a big piece of news. This is how important trading with news is. And so far the only piece of news that I could realistically see Thursday and Friday and I think the, yeah, like both of them are like pretty valid days. So we're going to focus most of our trading on those days. Understand that Monday to Wednesday, even if we do take any trades, it's going to be, you know, we're going to try to take profits sooner slash, we're going to go half risk instead of just taking on full risk like we usually do. Anyways, enough about that time to go into the five minute chart. And yeah, realistically so far it's still in bearish order flow. Honestly, if price were to just break it down from here, it's just bearish order flow. If price were to retrace up to here, that is also bearish overflow. Obviously if you were to come up to this level or this level or this level and the five minute order flow is going to change into bullish essentially like you're going to be disrespecting 1, 2 and potentially 3 like order blocks in order to get to these levels. And so your trigger is that once you fill in either one of these three levels on one hourly time frame, you're going to want to wait for a five minute change instead of delivery. Basically you just want to see price like forming bearish water blocks and then respecting it. Right after you respect the bearish shoulder block and you form a new low that is a changing state of delivery. And yeah, you feel free to just jump short. And as usual, like every single one of the trades that I call on this channel is like if I do not name any targets, just assume that it's always two rupees, whatever trade that you get into. Like the reality is nobody really needs more than let's say 4R a week to make like some insane money from trading. Like that is essentially 2x like 2 times 2r trades a week. That's it. Even if you account for losses, let's say you have a 50% win rate or whatever or let's say you have a 40% win rate. Like for every, you know, two trades you make, you lose two trades. So that's minus 2R, right? 2 times 1R, that's 2R. Essentially you just need to win three times like three two hour trades a week with accounting for like two losses, which equates to basically one trade a day. That's all you need. Like and that's even more than enough already. If you have a hundred thousand dollars in funding, which is super easy to achieve, by the way. Like, just to show you what I mean, I'm going to go on to Apex right now and I'll show you like how cheap it is to buy 100k account. Like this is 297amonth and currently they have 80% off, kind of like promotion. So essentially for $60 a month, you can get access to $100,000 in capital. And if you achieve 4R a week on $100,000, you times that by 4, that is $16,000 a month in profit that you get to keep. Of course, some extra math that you need to do that you're probably going to need, you're probably going to end up keeping anywhere between 12 to 14,000, but still $10,000 a month. It's not as hard to achieve as you might imagine. If you've never thought that this was possible before, this is something we help you do in bootcamp within the next 60 days. If you're interested, sign up. We're about to start our next intake. We only take on three people every intake just to make sure that the quality is high. And I'm basically going to be working one on one with you. But besides that, guys, just remember one thing. If there's one thing you take away from this video today is that we currently have three potential, maybe four levels. You do not go short until you fill in this level and you get the changes to delivery. Only then do you take a short because otherwise you're going to be trading into a bullish order flow on the five minute time frame. At the moment, one hourly is already bearish. The daily is already bearish. And so all you need is just five minute to be bearish. And if price just breaks down from here, just continue to momentum trade it. This is a bearish order block right here. It's fully valid. Just keep trading it lower. And of course the intraday target today is going to be right here at this. I don't, I don't remember. What is the. The name for this. I think it's a naked point of control or something, but essentially it's some footprint terminology. 110, 500. That's going to be the intraday target. Of course, you can definitely have the potential to go lower. Just play by ear, be cautious. Today's and today's Monday. Otherwise guys, have a great day. See you guys tomorrow.