The Art of Crypto breaks down Bitcoin's setup for the day, targeting $74,000 with a key level at $73,500. The plan is to wait for a retrace into a 1-hour order block, then ride momentum. He also reviews his trading system's performance across February and March.
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What's good, guys? Welcome back to another video. Yesterday ended up with a lot less volatility than we initially expected. As you can see right here, we ended up just chopping around. However, this morning during the Asia session, we finally got the scenario that we were looking at yesterday. Uh, would have been nice if we got it yesterday, but either way, we still managed to get some wins on the NASDAQ as well as oil. If you guys remember from yesterday's video, like I just mentioned, NASDAQ, oil looking honestly better than crypto, and that's why you allocate. And this is the power of just having options to trade traditional finance assets if you need, because it's not every day that crypto is going to have a setup, and it's always just good to have other options. But anyways, today crypto is looking a lot better. Well, yesterday was looking good as well, but like, you know, volatility is something that we can't really predict. But so far today is already looking more volatile than yesterday, so I'm going to break down the setup today. And yeah, let's get into it. So far you've got a bullish daily bias, and right now you're going to be targeting the previous kind of like swing high on the daily chart. Now if you guys remember from early on in this week, I mentioned that because the weekly bias was bullish, plus the fact that you have now finally broken out of a range. So last week we got the range breakout and then we got the retest, and now you're going towards the upside. I mentioned this earlier on this week, and so far this is exactly what's happening. And no surprise there to anyone here who's followed this channel. Like, we have a very good ability, or at least the system has a very good ability, to just read what is the daily bias as well as what is the weekly direction. But anyways, let's just remove the, you know, markings from yesterday because this is no longer valid. So far, again, we are targeting $74,000 until proven otherwise, and En route to there, we have another liquidity level at $73,500. Now, are we going to reach this level today? I have no idea. It highly depends on the volatility. But one thing that we do know for sure is the fact that we have news today at 10 AM. In fact, not only do we have US news, but we have Canadian news. And I'm going to share a little bit about Canadian dollar later because I do think that there is a very nice setup as well. But either way, the setup today is going to be super straightforward in the sense that you're going to wait for a retrace back into this order block right here on the 1-hourly chart, and then you are going to pump from there. Like, honestly, it is as simple as that. But Obviously, the devil is in the details. The devil is in the nuance when you are on the live market. Like a lot of people, they understand the theory of, you know, how this is supposed to work. And yet somehow, even though you know everything, when it comes to live markets, you still struggle to execute or you start second-guessing yourself. And this is where I'm probably going to help you during the free event I'm going to be running on April 1st. I'm going to be doing a couple of days of just live trading. It's going to be like a little marathon. Before the market opens, I'm going to teach you my system. And then when the market opens, I'm going to live trade this alongside you guys. The goal is obviously to help you guys make money during that live trading event. If you guys would like to join in, it's completely free to register. Just click the first link in the description box below. And if you guys would like to live trade alongside with me every single day leading up to the event and even after the event, there is also a second link in the description box below called VIP. For a couple hundred dollars, you get full access to, you know, basically all of my trades for the next month. And yeah, otherwise, and yeah, like if you're interested, check it out. If you're not, like let's continue moving forward with the market. So far, that is the setup for Bitcoin. Obviously, like bullish order flow is already in place. So even if you don't retrace all the way back to the order block, you are still more more than welcome to just start trading things towards the bullish direction, especially on the 5-minute chart. And we are going to take a look at the 5-minute chart though, just in case. And yeah, basically, even if you were to return to here and you start pumping and you form new highs and, you know, the market continues to go up, like, it's as simple as just momentum trading that's towards the upside. Because, well, if you take a look at the daily, it's bullish. If you take a look at the hourly, it is clearly bullish. And all of this was called beforehand. So yeah, if you guys are new to this channel, just understand that we tend to be right a little bit more often than we're wrong. So feel free to subscribe if you would like to stay in tune with whatever is happening on Bitcoin. But otherwise, Ethereum so far is having a bullish daily bias. Where unlike Bitcoin, where it's already forming a new high, Ethereum is still kind of chilling. So in this case, this kind of shows you that Bitcoin has a lot more strength, at least compared to Ethereum. So I'm still going to prioritize Bitcoin as far as longs are concerned. And but otherwise, like in the event that you get, you know, this new confirmed order block, you're more than welcome to still get into it. As far as Solana is concerned as well, like as you can see, Bitcoin is already at this point and yet Solana has failed to make a new high. Again, I would prioritize Bitcoin as far as longs are concerned. Now, taking a look real quick at USD/CAD, we are still very much bullish in terms of the daily bias. However, we are coming down into a bearish order block over here, and we do have a couple of relatively equal lows over there. So far, the setup— well, was looking pretty clear actually, because you formed an order block over here that you could have like retraced and go into. But so far, I think just going to be momentum trading USD/CAD. Basically, you have a couple of fair value gaps as well as that order block in the event that you come back into it during the news, that is going to be where you take advantage of the move. Like, don't sleep on this one. But either way, like, one of the other things that, you know, is good to talk about is the fact that, you know, just this week alone, we've had like 3 wins basically. In fact, I think we've had a win every single day, especially on the live trades that I've been calling on Twitter. And this is again, like, you know, throughout the month of February, we had some haters, we had some doubters who were like, oh bro, your system hasn't been working for a solid month. Exactly. That's what I've been saying for that entire month, which is, Hey, we're ranging. Chances are this system is going to struggle and it struggled. And when trading and when trending conditions return, we are going to be starting to make money again. Guess what? We're now back in trending conditions. And now guess what? We've had more wins in a single week in March than we had in the entire month of February. This is just how trading works. Not every day is a trading day. Sometimes not every month is a trading month. And in this case, not every quarter is a trading quarter because from basically like mid-December all the way up till like the end of February, this system has been severely struggling. At least it has been severely underperforming what it usually is able to accomplish. And yet when market conditions return, guess what? This is when we come back to work. So hopefully to those of you who have been following me over the last like 2, 3 months, you see that I have not lost any confidence at all. I still execute the system as it's supposed to be executed, knowing that again, it's a market condition problem. And as long as those market conditions pass, guess what? The money's also going to come back. So let there be a lesson that if you are struggling with a drawdown period, it's important that you identify Is it your problem? Like, are you the one making the errors and are you the one causing the losses? Because sometimes it could be due to revenge trading, FOMO, and just a lack of discipline or a lack of patience, whatever it is. If it's a self-error, something you can fix, and that will immediately lead to a rise in P&L. But if it's something related to market conditions where, for example, if your system is a trend trading system and you are currently in a range, it is going to struggle. It is just how the markets work. So if it's a market condition problem, there's nothing you can do about it. And so you continue to trust the system. You continue to execute the system when setups are present, but You just fully understand that A, you're going to get less setups during this period, and B, chances are the setups are going to have a lower win rate than usual. But at the same time, again, it's not something you can control. And most importantly, it's something that passes. If you start losing confidence in your system and you start going on YouTube and trying to, you know, find another trading strategy or whatever, guess what? You had a perfectly fine system that you just let go because, you know, you were in like the markets was not just because the markets was not in an optimal condition for the system. Right, so hopefully the last couple of months, if you guys were following me, this shows you a perfect example of how a trader navigates through periods where market conditions don't necessarily align with the system. Otherwise, have a good weekend, and I'll see you guys on X later for some live trading. Ciao ciao!
