Bitcoin The High Of The Week Is Likely In
Bitcoin shows bullish daily close but bearish weekly structure and one-hour setup, creating conflicting signals. The presenter expects a move into a fair value gap followed by downward continuation, with a possible shorting window around 7am-10am New York time.
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What's good guys? Welcome back to another video. So a bit of a different setup today. Like fun fact, this morning we had a heavy bout of rain here in Bali and ever since then for the entire day the WI fi and mobile data has just been out for half of Bali. Unfortunately, I'm staying in that half where we have zero WI fi and mobile data. So I'm just recording this, like expect this to not be edited. I just wanted to get this out to you guys in whatever way that I can. By some God's miracle, the data came back like about five minutes ago. It's still really spotty though. As you can see from this up here. Like it's still really spotty. So I'm going to do my best and yeah, but let's get into the video anyways. On the daily chart so far we have closed a bullish again yesterday. So today we're going to be looking for a bullish trade. Unfortunately though, we are now heading into this bearish fairly gap right here. Which means that there is a potential that, you know, things could just continue downwards from this point onwards. It's the exact same setup that I talked about yesterday in regards to the weekly bias. Because last week's, you know, candle closed bearish. And as well as the fact that we have gotten the first weekly bearish changes that delivery for the first time in a long time. We are actually pretty bearish on the weekly chart. And when you're bearish on the weekly chart, you can expect Mondays and Tuesdays to kind of form a false move towards the upside where price dumps afterward. This is kind of in line with the power of three. Essentially this is the weekly open. Anytime price goes above the weekly open is an opportunity for you to sell high before you get the true expansion of the weekly chart. And so don't be surprised if you know, we just start getting, just start going bearish today. But just out of respect for the daily candle close yesterday being bullish, we're going to be looking for bullish trades today if the chart is going to load. And then now that we are down on the one hourly chart, the the thing that kind of start strikes me is know this bearish changes state of delivery. Essentially like right now on the daily chart we are bullish but we just tapped into some sort of higher time frame PD array. On one hourly chart we have already changed, you know, in, in order flow. It's already changed because now this entire with this candle close here, this entire block now becomes a potential resistance point for bitcoin to just dump from this point onwards. And so right now, you know, in the event that I am going to take a trade today, which I feel like I am obligated to mention this on days like this where the daily chart is pointing one way, but they were in some sort of higher time frame resistance. So we have a reason to believe that things are going down as well as the fact that the one hourly chart is currently bearish, which is against the daily vias. On days like this, I tend to not trade. Right. One of the key tenets in my system is that I require time frame alignment which means that I'm going for a short. Ideally I want the five minute, the one hourly and the daily chart to all be pointing towards the downside. And if I'm going to go long, I ideally want all three to be pointing towards the upside. Right. Now already this is getting fuzzy. Doesn't mean that you cannot take a trade, but you're going to want to play this a little bit more cautiously if you are going to take a trade. So to kick things off right now, the scenario looks more likely that you're going to come into this favority gap on the one hourly chart and then you're going to go down from this point onwards. Now this gets invalidated though if you just do not get any sort of changes to a delivery on the five minute chart. Right. If things just keep going up and up and up, then yeah. Feel free to jump into a short. Sorry, feel free to jump into a long. Now again, personally I'm not going to be looking to do that for another reason, which is the fact that you have relatively equal lows right here, which means that this low and this low are very close together. And if you know anything about the charts or if you know anything about order flow or institutional trading concepts, you know that relatively equal lows and relatively equal highs tend to act as just magnets for price to target. And like, let's just say this is not looking good. If I had to lean one way, I think we're going to take the lower time frame signal a little bit stronger compared to the daily signal. Again, this is daily resistance. This is the, this is the daily level that we were looking at for price to get rejected from for that true, you know, weekly expansion towards the downside to happen. And so like, yeah, I think the setup today is going to be, you know, just get into the favor gap and start shorting and you're going to want to look for that in between the hours of 7am to 10am New York. Now I cannot actually pull out the news at the moment, but from what I understand, if you have news, then just trade an hour before news to an hour after news. Man, this is insane. Like, look at this. This is so sketchy. And it's just crazy how, you know, things like this can happen in like third world countries like Barley the entire day, just entire areas, just completely out of WI fi, which is crazy, right? You don't really think about this. You don't really, you know, you kind of take it for granted, the power of WI fi when you have it until you don't and you realize you can do nothing because everything's done on the Internet, even this recording, to the point like I don't even know how I'm going to be like uploading this video, right? I could imagine it might take like half an hour or 45 minutes or whatever. But anyways, coming down to the five minute chart, we can see that we have swept underneath the Asia session during the London session. Now usually this would be a pretty bullish signal because Asia accumulation, London manipulation towards the downside means that New York tends to be distribution towards the upside, which goes in line with daily bias. But again, I really don't like the fact that we had a one hourly change in state of delivery. Now if price was somewhere closer to here instead of, you know, breaking all the way down there, you know, I would have, I would have said, okay, it was just sweep at the Asia lows and we're going to look for longs. But in this case right here, because of the one hourly changes to delivery, it's hard to write off, it's hard to ignore. So in this case, like, this is going to be like kind of my option number one. But in the event that on a five minute chart you just keep making higher highs and higher lows, then yeah, you know, potentially this is going to be distribution. By the way, I'm not too sure if there is news today, but if there is news, you're going to want to look for these moves to happen. You're going to observe the market structure, specifically the hour before news to an hour after news. That is going to be the most telling signal for today. Especially on a day like today where you know, you have conflicting signals, you have one time frame pointing one side, you have another time frame pointing the other side. It's just the way that you want to approach, you know, a day like today. But anyways, guys, just a heads up, we're going to be hosting a masterclass in about 18 days, just breaking down this exact system that you have been, you know, watching. And especially this exact system that's gotten an 80% win rate over the last, you know, 300 days that I've been making these daily videos. Now, anyone that signed up beforehand is going to get a bonus free gift. This is exclusive to the people that sign up beforehand. Just a heads up, just because you are in the newsletter doesn't mean that you're automatically signed up to this event. If you want to sign up to this free masterclass, click the first link below. And I'm going to now try my absolute best. I'll go to a cafe if I have to, and I'll order a creme brulee. Just order a creme brulee at the cafe if I have to. But I will get this video out to you guys. See you.
