Bitcoin: The Setup For Today (+ ETH/SOL)

What's up, guys? Welcome back to another video. The call yesterday ended up being a perfect win. And so that puts us up to 113 wins out of the last 141 calls that we've made here on YouTube publicly since February. So if you're new to this channel, just understand that you're probably at the right place, because we tend to be right more often than we are wrong. But anyways, today we're going to get into the intraday setup for both bitcoin. We're going to talk about eth, we're going to talk about sol and let's just say that D, the setup today is a little bit more obvious than what it was yesterday. So let's just dive right in. All right, so just kicking things off in the weekly chart again. We are looking for bullish trades here because we had a bullish weekly close. Plus, in the event that we retrace back into this area right here at 119,300, then you're going to want to look for a retrace for this to go higher because this entire block now is now your bullish order block, which means that this is going to be support. Now, besides that, you can also further refine this down to this bullish order block right here at 115,000 doll. Now, whether or not we are going to hit this level is remain to be seen because, like, I can just tell you that both of these levels are going to be acting as really strong support. I cannot tell you, however, which one is going to be likely to get hit. I do think the above one is going to be more likely just because it's closer to current price. But this is the exact mechanism that we have used so far to predict all of the major bottoms on bitcoin so far during this bull run. For example, the most recent one was, if you guys recall, I kept telling you guys, hey, if you're a swing trader, just buy bitcoin here. You're going to. You're going to make money. And guess what? You're up now $20,000 after a few weeks. Now, this is a bullish order block. This right here is white price found its bottom at a fair value gap. And down here as well, you find a bottom at a fair value gap. And here as well, fair value gap. And the only thing you need to understand about both of these is that both order blocks and fair value gaps are considered pd. And as long as it's a PD array on a weekly chart, as long as the trend is still moving in the bullish direction. These PD arrays will almost seem like magic areas where, you know, bottoms are found. But most of retail are not going to be looking at these order blocks and fair bit gaps because truthfully they are not trained to see these things. But you are because you're watching this channel. So anyways, the only thing that makes it tough about trading on the weekly chart is the fact that this is the weekly chart, which means that things are going to take a while to play out, whether you know, a few weeks, a couple of months. But just understand in terms of the high time frame, right, if you're a slightly longer term trader, you're going to look for a retracement back into this block right here and you're going to trade it higher. But to those intraday traders out there, that's what we're going to get into today. Because intraday we do not need a retracement back here. We're just trading whatever is the direction for the day. And so far, based on the daily chart, we can see that the direction for today is pointing towards the upside. Why? Because we had a bullish weekly, sorry, a bullish daily close yesterday. So until that changes, we're going to continue to trade things higher until we are proven otherwise. To the traders out there that struggle with momentum trading, just understand that you hear that saying while you want to trade with the trend. That is very true. Like as traders, let's just say that when you go against a trend, right, everything becomes tougher. I'm just going to use this as an example. For example, we have understood so far that the trend overall is, you know, bullish. And I want you to take a look at how quickly and how aggressive the up moves are compared to how long the down moves take and how choppy they look. And even though they take double the amount of time, you get half the amount of move. That's the reality of counter trend trading. Ideally you want to be taking all of your trades in the direction of the trend and in this case you're bullish. And so you're just going to keep trading bullish until you are proven otherwise. And in this case we have not yet been proven otherwise. Right now we have also left behind a interesting level, which is a fair value gap here on the daily chart. And so potentially if we retrace into this today, we can look for some kind of long opportunity. And now that we go down into the one hour chart, let's try to refine this. So to kick things off, we are now coming back into a bullish order block that we marked out from yesterday. Now, the beautiful thing about this setup right here is that the moment we go down into the five minute chart, you can see that the Asia low has just been taken out during the London session. And so this is kind of a manipulation move. Now, why is this manipulation? It's because we have identified on our higher time frame that we are in fact pointing towards the upside. And when this is the case, we want to look for the Asia low to be swept on a bullish day, because that means this is a false move. This is to trick everyone into thinking that the price is going to go down. Meanwhile, the reversal is going to be immediate. And again, now, you believe it or not, this is the exact same kind of concept that we used throughout the last, like 150 calls, what, 150 videos or whatever. And again, proof is in the pudding. Like, we tend to be a lot more right than we are wrong. And so right now, the beautiful thing about this AMD setup right here is the fact that you are manipulated, right, sweeping underneath the Asia lows right into some kind of one hourly order block. Now, you can argue that this one hourly order block was already, you know, starting to get filled during the Asia session. That's my only concern, which leads me to believe that potentially you may sweep out yesterday's Asia low before you have any sort of upside movement. But still, this is already a valid kind of manipulation setup. And now all we want to see is a change in order flow. What does that mean? Right now the order flow is very bearish in the sense that bearish order blocks are being respected and bullish order blocks are being completely just blown through. Now you want to look for a change in order flow, Meaning, for example, right now, based on what is currently available on the chart, this is a bearish order block. If this bearish order block gets traded through price turns to flip it into support and to make a higher high. This is what you want to see. And this is what is known as a change in order flow. Basically, you have gone from bearish to bullish. And from that point onwards, like just take a look right the moment you shift into bearish order flow, the entire leg down, you can just trade it bearish and you're going to win. Same thing here. Once you get bullish order flow, you're just going to trade the whole thing bullish and you are going to win. It's as simple as that. Whether that happens right now during the London session, or if it happens sometime during the New York session. I don't know, like my job here on this YouTube channel is to give you the scenarios so that like I'm just helping you plan ahead so that whenever you see these things happen, like you're already prepared for it and you can take action and you can make money. Speaking of which, if any of you made money from yesterday's call, feel free to leave it down in the comment section below. Seeing your comments every day, like I read your comments every single day and honestly seeing all of the, you know, just support that you guys have given me throughout the multiple months that I've been doing this consistently really, truly helps me, you know, just keep going. But anyways, the other level that we can potentially look at is here at $123,000. This is a psychological level. Now sweeping, this will sweep out the Asia low from yesterday. You're going to sweep out the relatively equal lows from yesterday. And then, you know, price could potentially give you some kind of five minute order flow change. But the setup for today is going to be super clear. Once you see that five minute change in order flow, it's already good to go. You just want to be patient and wait until that happens. Like for example, this is a bearish order block. Yes, that is true, but there's a difference between taking the first change in state of delivery versus a confirmed state in changes in delivery or like higher probability it's changing set of delivery, whatever you want to call it. Because right now let's say that, yeah, okay, you break above this order block and you come to find it for support. But you could still argue that this order block here is going to act as persistence where price is going to come into, to go further, like for more further downside. And that's the danger of getting into these early entries. Yeah, sure, you're going to be able to catch more entries and you're going to miss entries less. But you also run the risk of going in a bit too early and getting absolutely wrecked because, well, you just don't have enough confirmation. Now there are pros and cons to both. That's not to say that one is better than the other. I think it comes down to you at the end of the day what type of trader you are. Is your risk appetite higher to where you know, you prefer getting early entries even if it means that you're going to get stopped out more often. But it also means that you're going to be able to get in earlier on all of the moves and you're not going to miss as many trades or maybe you are someone who's a little more risk averse where you know you'd prefer missing out on some low quality setups. Just want to make sure that whenever you get into a trade you are getting into the highest probability, the highest quality trades that you possibly can. Again, pros and cons, all it matters like all that matters is what you prefer. Anyways, speaking about another topic going to top it, going to get into bitcoin dominance real quick because like all eyes is on is still on bitcoin right now. Bitcoin dominance is currently still under 60% which is like a very historical, you know, level where you know, once you break below 60% that's when like true alt season really starts. Like for example here, right. Once you break below like around 58% this is a strong level to support you go down. Now what's also interesting is that you have just tested this really strong level of support and it's only normal that price is bouncing at the moment. Which means all eyes are going to go on back onto bitcoin for at least the next couple of weeks. Because again bitcoin just formed a new all time high. It only makes sense that you know there's a bit more attention but this is going to be step one in a multi step process where money is going to start rotating into altcoins soon. Keep an eye out for, for the large caps, right? Some of them are already going absolutely bonkers. BNB is already at a new all time high for like last two weeks that is still going really strong. You have Solana, you have new Ethereum of course and XRP and all of these are doing really strong. But for now just understand that we are on the cusp of some kind of old season. Just got to be patient for the next you know, week or two and it's going to be the most insane like three, six months that you will ever see. Well not eversea but at the very least in this cycle. So you just gotta be patient, make sure you have capital just ready to be allocated. Which is why I advocate so much for intraday trading and then cycling those intraday, you know, profits into your slightly longer term account or swing trading account or spot account to take advantage of these alt season, you know, capital rotation kind of moves. Now if you would like some help with that, feel free to click the first link in the description box below. You can work with me one on one. I'll teach you everything that I know to help you just be profitable and make a lot of money in this bull run. Because there's one thing that's for sure, like we do not have much time remaining. At most we're going to get a solid three to four months worth of solid, right just bull run. And after that it's going to be really sketchy. Anyways, getting into Ethereum, same thing here. We have managed to break above this bearish resistance level right here. And so now you're going to look for Ethereum to come back down into $4,600 for a support resistance flip. Basically coming down here flipping this previous bearish order block into a potential bullish order block. And that's going to be the higher time frame setup for Ethereum in terms of intra of course looking for bullish as well. And what's beautiful is that you're coming into some sort of bullish probability gap slash, some sort of liquidity level. So today the setup is going to be pretty clear. You're right now sweeping below or at least on route to sweeping the Asia lows. And once you sweep the Asia lows you're going to look for five minute changes to delivery and that's going to be the setup for Ethereum. Ethereum and Bitcoin are looking both quite clear. Just pick whichever one that you strikes your fancy and you're going to be good. As for the timing of the trades though, which you know, I kind of forgot to mention, take a look at news today. We have absolutely zero news. Like we have New Zealand dollar, you have Japanese yen. So most likely like more likely than not today is not a super high probability day. Like still we can take setups, we just got to be aware that today's are not news day. So we want to kind of half our risk on any trades that we do take or if we do get into a trade, right, we want to make sure we take some profit at 2r or maybe entirely take profit at 2r so that we ensure we're in and out quick. We're treating this low probability market conditions as though how it's supposed to be treated, which is, you know, we take it with CA until tomorrow at least, you know, at 2pm you're gonna have FOMC and that's gonna bring some much needed volatility back into the market. But until proven otherwise, like today's gonna be a slightly lower probability day. So we're gonna focus most of our trading anywhere between. Well right now as of the time that I'm recording this, it's almost 3am London, sorry, 3am in New York. So from now until 5am It's a valid trading kind of period. And then the second trading period, depending on when you watch this is between 7:00am to 10:00am New York. So anyways, going to Solana like yesterday was bullish. And so far the key level for Solana is still remaining the same. In the event that you retrace back into224 and potentially even this further get lower here, these are both going to be higher time frame levels of support. Again, very similar setups to compare to Bitcoin and Ethereum where you're just looking for a retracement into some sort of higher time frame PD array. And that's going to be like, yeah, that's going to be where you want to dive into your swing trades. These relatively equal lows down here on the one hourly chart has just been swept, which means that you can already start looking for some kind of a pump. Potentially in intraday perspective, you could come all the way down to 226.4. Whether that's likely or not, I don't know. But I'm just giving you guys a setup. You're going to be looking for longs. Now the thing that where I would be a little bit more careful about in terms of Solana is the fact that the Asia high has been swept prior to the Asia lows. Now compared to Ethereum and Bitcoin, the Asia highs has not yet been swept, but the Asia lows has been swept which means there is a very clear objective to go back to the Asia highs. So if on a long trade today, I would more likely prioritize Ethereum and Bitcoin over Solana. But still like Solana, you can definitely still take the same setup. It's just going to take a little bit more. Like for example, if a price to give you a very confirmed change in state of delivery, you know, potentially come up to, you know, 235. And that's a little bit further than, you know, Bitcoin and Ethereum. Either way, I'm going to keep you guys posted on Twitter. Given the fact that I'm recording this video early today, I get to do that. So feel free to follow me at Underscore the Art of Crypto if you want to follow along with the live trades. But otherwise, thank you for watching this and I will see you guys tomorrow.