Bitcoin is in a bullish setup across all timeframes. The trader plans to target the previous daily high around 110,400 using a fair-value gap as an entry point, following the typical pattern of Asia accumulation into London manipulation and New York distribution.
Chapters
What's good, friends? Welcome back to another video. As you can see, we're in a outdoor setup this time around, and for good reason. Today the weather has finally gotten a little bit more cloudy. And kind of like, just to give you an idea, I'm currently in Vietnam and it is very close to summer at the moment, which means the weather is blazing hot. Like, coming from Malaysia, even I feel like it's super hot here. And like, I purposely, you know, bought a whole table and, you know, monitors and everything because, you know, one of my favorite things I enjoy in life is a daytime cigar. Right? Cigar while working is, yes, kind of unbeatable. Tough to beat at least. So today is a rare day where I get to sit outside, so I'm going to enjoy every moment of this. And speaking about enjoying the moment, it's time to give you guys the update for Bitcoin. So yesterday we already, you know, played this out. We talk about how price, if it returns into this order block right here, take it up and boom. Now, one thing that is, like, I feel like I should address, not necessarily because we had, you know, some negative comments or whatever. It's just in general, there are two things you need to understand about these calls that I'm making on YouTube. First of which is if there is a moment where you get to take a trade, for example, an entry here, stop, loss, here you target 2R, right? Essentially, 2R would be at the previous high. In general, like, if I do not talk about a target, assume that all of my trades are always two R. And in that sense, it played out. Now, second thing to understand is that the move that I'm usually calling is that I usually record these videos around, like, at the end or like in the middle of the London kill zone, which means between, you know, 3 to 5am New York, the move that I'm usually calling is for New York morning. And that means the move should happen sometime between 7am to 10am New York. And by, like, once you get the entry within that time frame, it should play out by the end of the day. And I am not in the business of calling everything in the sense of, okay, this is what's going to happen in New York morning. This is what's going to happen in New York afternoon. Unfortunately, being someone like being in Asia and living in Asia at the moment, thinking about a Europe trip soon, planning that out. Actually, if you guys have any recommendations on where best to go to Europe in July, August and September, let me know. Currently, we are heavily considering Lisbon in Portugal I've never been to Portugal and then maybe Barcelona and Spain. I've also never been to Barcelona, but I've heard great things about a place where it's a place where you can spend a couple months there and to, you know, just digital nomad a bit. It's kind of what I do nowadays. Yeah. Back to what I was talking about before being in Asia. Like I don't have the luxury of trading the New York session or rather the New York PM session because it's quite literally midnight where I'm staying. So that's why I usually don't talk about the New York pm but just to give you guys a lesson so that this is not just rant. Usually the day plays out with Asia being accumulation. Right. We've talked about this numerous times on this channel and it is one of our bread and butter setups. It's exactly the setup that we used to determine yesterday how we, you know, we would take out this high with pretty high probability. Asia tends to be accumulation, London tends to be manipulation and then New York tends to be distribution. Either that or Asia tends to be accumulation. London breaks out and a New York continuation. Right. It's either ABC or an amd. Now the New York afternoon session is very interesting because most of the time the New York afternoon tends to only be one of two, you know, scenarios. Actually three on a non news day you could just chop around, right? A lot of the volatility tends to die out after the New York AM session. Especially for a lot of crypto. Well, crypto is still okay, but for forex pairs especially like you know, eurusd, anything outside of like indices and like the futures, a lot of the volume tends to die down by the New York afternoon. So the first scenario is that you start chopping around. Secondly is that you will continue it like, like the continue to move. This is kind of a rare profile in the sense that you'll continue to move off New York morning. This happens usually on a news day, especially on a late news day. Meaning if the news tends to drop on afternoon or like late morning, around 12:00pm, 1:00pm, 2:00pm that is when you start getting this. And then you have the third setup which is the most common, which is a reversal. This is the most common out of all three, you know, New York PM sessions. So just use your wits about you. See how the market structure is kind of, you know, playing out. See how the order flow is kind of playing out. And that is, that should guide your decision on how to approach the New York Ian Session. So this has been a little bit of an extended intro so far. So now let's get into the video after talking about the fact that we are now 59 out of 72 on public calls on YouTube so far over the last three months. Now that that's out of the way. Daily chart. We closed bullish yesterday, which means we closed bullish yesterday. And so today our daily bias is bullish. What's also beautiful is the fact that we have a. Remember that fair video gap that I drew out yesterday? We filled it yesterday. Oh, sorry. This morning during the Asia session. So that's amazing. That's really good to see. And on the one hourly chart right now, we also have a change in state of delivery, which means that now order flow has shifted into bullish, which means it's also the reason why I waited until this candle closed before I made this video so that I could just give you guys a much more clearer, you know, kind of input at the moment. Direction is pointing towards the upside. So our job becomes much simpler. We need to do is look for an area of interest. In this case, it will be this F gap right here. If you retrace back into this F gap, that will be mean. That will be like grounds to continuate to the upside. Before I start moving into the lower time frame, I do want to talk about the weekly real quick because this will kind of shape how. For example, a lot of people would have gotten confused by this move yesterday, right? Oh, it's a bearish market structure change. It's a whatever. But if you remember from yesterday's video, because we talked about the weekly chart, because we started things off on the weekly chart, we were talking about how if you get the weekly open and the weekly opens here, any point you go below the weekly open will give you an opportunity to buy low so that you can sell high during the weekly expansion. How do we know for certain that. Well, we don't know for certain, but how do we know? How can we anticipate that a weekly chart is going to the upside? It's because last week's candle closed bullish 80% of the time. You tend to want to continuate even if you don't go all the way up to a new all time high, even just previous weekly high is going to be a very solid target. Because that's the situation on the weekly chart. Which is why this is not a surprise given the fact that the weekly open here, this dip into this favorite gap is completely like just textbook retrace trick. Everyone into thinking it's bearish and then boom, you continue it the other way. Right? This is the true move because all of the time frames are pointing towards bullish, right? This is how I approach understanding the higher time frame bias. And in this case, higher time frame bias is towards the upside. Lower time frame is also pointing towards the upside right now. And so we have an opportunity to look for a retrace. Same thing here. Right. And now let's zoom into the five minute to see if we can further narrow this down to start things off. We can see that we are currently at the Asia highs. If today has any chance of being a bullish continuation day, Asia is going to become accumulation. London breakout, New York continuation. So that's what we want to see. So at the moment the setup is still very simple. You want to wait for price to retrace into this fervidity gap and ultimately during the New York morning session you will take a trade towards the upside target. For today is going to be the previous daily high which is right here at 110400. Notice I am not targeting all the way at the previous weekly high. This is an intraday trade and whatever targets we have should be in terms of an intraday. Now if you are a longer term trader then feel free to just zoom out to the 1 hourly chart and take your profits here. But for now the trade that I'm calling here is specifically for the one hourly chart. Today is also another one of those a kind of days where we have favor to get filled during the Asia session. London is breaking out right now we have a clear favorite, favorite gap as well as in the event that price actually retraces lower, you could also see this, although I doubt it given the fact that we are about a couple of hours out from the New York session, this is much more likely to happen. Going to take a look at Forex factory real quick to see if there's news today. And we do not have news today. So news is going to come tomorrow. Which means that we should keep in mind there is another possibility that is likely to happen which is today can just chop around. Now if today ends up chopping around, then know it is what it is. I cannot really anticipate these market conditions but I can kind of mention it. We can account for the fact that because we have no news today it could chop around but otherwise the setup is pretty clear. Something like this targeting 2R. So 2R will give you this previous high right here. And if you target slightly higher for a Intraday target that's going to give you a little four hour trade. Now this is not a cue to just set a limit here and forget about it. Right now we have relative equal lows here. So all you want to do is see price sweep into here. You want to see a bullish change in state of delivery and a boom. Retrace your entry here. Stop here on the newly formed low, wherever the low may be. Right. Price could dip here. Price could dip here. I don't know where the low is going to be. Right. There's a couple of hours until the New York session usually wits about to and ultimately you just want to see all three time frames align. Right? That's the framework that we're using. Daily chart is bullish. Weekly chart is bullish. One hourly chart is bullish. So all you want to see is that five minute chart, right. Whenever it shifts, bullish. After filling in some kind of key level, that is when you should be looking to enter. And once you do enter, take it to R. Take it at the previous daily high and that should give you a very clean setup for today. Now on Sunday I actually recorded a video on like I went through like 20 charts and I gave you guys the five to six best trades for the week so far. A few of those trades are playing out beautifully. You have Jupiter, you have things that are still setting up. What I mean to say is that you're not too late yet to take the ideas that are shared in that video. So if you want, I'm going to link it right here. Feel free to check it out. But otherwise, if you have been struggling with your trading for a period of time now and you would like to work with me one on one, yes, me and you, one on one to get you from where you are at now, to basically fund it within the next 60 days, then click the first thing in the description box below by otherwise check out that weekly upload video and I am going to get back to enjoying my cigar in this beautiful weather. Cheers guys.
