Bitcoin: Today Will Set The Tone For The Rest Of The Week

What is good? Everyone, welcome back to another video. Last week we talked about how, you know, at the time I was not going to make a call because it was just looking pretty, you know, low volatility and potentially choppy. And I think that's indeed what we got. Although the bullish scenario did end up playing out. So if any of you managed to catch that trade there, congratulations. But definitely did not put it towards the official call just because like things were not lining up with my system. There was basically low probability conditions and I personally like to focus my trading on high probability conditions which leads me on to this week. So far it's looking much better than last week. I'm going to break it down within this video. But anyways, before I get into the video, to any of you who may be interested in seeing more of like behind the scenes and more like daily life or maybe just what I'm doing on my travels, how do I structure my like stuff like that, right? Personal stuff. I've actually just filmed a vlog yesterday. Just showcasing, you know, showcasing, but just documenting, you know, how it usually like how the days go usually. And if you're interested, I have met, I have also made a personal YouTube channel just under my name. I'm going to link it down below. The video is not yet posted, it will be edited. But I'm going to start vlogging soon. One of my original goals with doing a face reveal and not keeping the art of crypto to a faceless channel is to in the first place is to document my life more because I want something to look back at in the future when I'm 10, 20 years down the line. I could see exactly, oh hey, so 24 year old schwen was thinking this, he was doing this, this is where he was at, you know, look back at the memories and yeah, just starting to do that now. If you like to see more of that, like I guess this is going to be a shameless plug to subscribe to that channel. Otherwise I'll definitely let you guys know once the vlog is released. Anyways, getting back into the video, so far we have filled in this weekly bullish F gap that we talked about last week. How we were expecting Price to fill this then to bounce and so far the bounce is happening, this is filled in. So that's a big win overall. Just remember that on the weekly chart you are still very bullish. And just because the last week has been a little bit tough to navigate does not change the idea that so far you're still Bullish. And this week is looking much more bullish than last week because you filled in this fair gap and you gave a really strong bounce to the point where you even closed bullish on last week's candle. And so this week's candle is bullish. In terms of the weekly bias moment we go into the daily chart, we'll see another really bullish sign as well, which is that we have just gotten a daily change in state of delivery. Just to give you an idea of what this means, so far, ever since here, you've just been forming, you know, bearish market structure or like bearish order flow. But so far the fact that you have broken above this is a really good sign. Now we can just look for a retracement into either this level right here or a little bit down below for price to, you know, find support and continue bouncing. Today's only Monday and if you take a look at news, we have news focused mainly Wednesday, Thursday and Friday. So the latter half of this week is probably going to be, you know, giving you higher probability market conditions. But otherwise something like this is definitely possible. At the moment, this is still bearish resistance until otherwise proven. So, so you could have. This could be the condition that allows the market to go for a retrace before we get in. And this block here ultimately gets broken through. That's the daily bias. And so far, bullish. Bullish. Bullish candles. So today we are also bullish. Speaking about bullish, the lower time frames is also showing this kind of setup. Because if you take a look at the five minute chart, actually before we go into the five minute, let's talk about a one hour first. It is also in bullish order flow. Bullish order flow. Bullish order flow. So one hourly is aligned. Bullish daily is aligned. Bullish. Weekly is aligned. Bullish. And so the five minute. Let's take a look. It is also very bullish. And so far this is definitely looking more of like a Asia accumulation London breakout. And in New York retrace before continuation. That would be my bet. As for what we do today, although the fact that in this move during London you have pumped all the way into that new daily resistance area means that you may spend the rest of the day just kind of reversing could be a possibility. But so far, you know, give you guys the scenarios on what to expect. So first of all, in terms of the five minute chart, because you have time frame alignment and everything is bullish, then you just want to look for a retracement into some Kind of PD array. Take a look at the one hourly that is going to be this PD array right here on this candle as well as well actually you don't have much more than that. So yeah, if you sweep out these lows here on the five minute chart, you would fill in that photo gap and potentially go higher. Personally I'm probably going to take today very cautiously because the we have had a pretty big expansion just during the London session and again you are in this bearish resistance level right now. Ideally you want to focus your trades on when price actually retraces back into the CISD and then the bout is going to be very strong. So far again you're trading into resistance. So there is a potential that you could just spend today reversing as well as tomorrow. So potentially Monday, Tuesday, Wednesday, Thursday, Friday kind of situation could be how this week plays out. But still we're going to play it day by day and we're still going to take trades like wherever it's present. And speaking about peasant five minute chart, you have this bullish order block right here. So if you retrace back to this right now at the time that I'm recording this video it is 6:15 which means when it gets closer to 7am to potentially 10am if you get retracement then you can target the current daily high. Now I'm not going to suggest you guys target some really far off target today because there is no news and usually you want to look for the volatile days to be on the news days. But just to give you a couple of ideas of like TPS that you could take, that is not the current daily high. It's going to be up here because if you take a look at, you know, just previous liquidity levels, you don't really have too many of them. Potentially this F gap right here which could act as a TP point but overall like just going to play today cautiously. Take your 2R trades wherever you can overall the directions to the upside though, and you're not going to confirm any sort of downside the rest of this day because to do so you would basically need to of all you start putting in bearish short flow on the five minute chart. But secondly, you also kind of need to break below this block right here which is not going to happen today. So purely based on the information that I have today, I would say the direction is bullish, but cautiously bullish because this is a bearish resistance zone. If today closes bullish though, if today closes really bullish, then tomorrow 100%. We can, you know, start taking on much more risk. Again, that is kind of like the danger of trading on Mondays because it is the first day of the week. Kind of sets the tone for, you know, what's going to happen the rest of the week. And so we call it Monday opening range. And usually we don't trade Mondays for the same reason that we do not trade Asia session, because Asia is the opening range of the day. The Asia range sets the tone for the day. And however Price reacts from the Asian range. For example, today you break out of the Asian range can look for a continuation if you get a manipulation during the London, which would be the ideal scenario. If we got manipulation here, 100%, I would just tell you, yeah, just go long right away. But yeah, the Asia range for the same reason we do not trade the Asia, we just let it play out and then we utilize whatever happens on the following two sessions to trade. Same thing here, right? We don't really trade Mondays. Monday sets the tone for the week and then Tuesday, for example, you may retrace back into Monday's high and then boom, you continue to move. Or maybe Tuesday or Wednesday you may manipulate underneath Monday's low and then that will be your a, you know, manipulation and the distribution on Thursday and Friday. Again, keep in mind that news days are focused on Thursday, Friday and Wednesday. So expect Monday and Tuesday to be a bit more choppy and for, you know, Price action to not be as clear. And so again, also wouldn't be surprising if Price were to just do a retracement on, you know, over the next couple of days. So yeah, today bias is definitely long, but cautiously so. And I really do not see a way that Price could, yeah, like you would only confirm bearishness if you break below 105, 200. And that is very unlikely to happen today could happen, who knows. But yeah, for now, as long as the five minute continues to put in bullish order flow. Basically like if you get a retrace to 106500 or anywhere within this block, as long as you start showing a five minute change in state of delivery or just willingness to go higher, then definitely take a trade like this for continuation. Although do not set your targets too far. Just take your 2R and run 2R by the way, means that if your entry is here and your stop loss is here, 2R, for example, this number here, 2.23 is 2.2 R. So 2R will be something like this. So for example, let's say you sweep it and the price starts showing changes to delivery. Right, let's say here. And so your entry is going to be here and then your stop loss is probably going to be there then, you know, just targeted two R, quick and easy, probably even half risk. Overall though, that is going to be my call. But again, this is just the information that I have at hand. And yeah, hopefully we're able to maintain our 80 to 83% win rate over the last four months so far. And, and yeah, also fun fact, if we reflect on last week, just like how the first day of the week tends to be the opening range. Just like how the first session of the day tends to be the opening range. Fun fact, the first week of the month can also be an opening range. I mean, if you guys remember from last week, we had a really tough time trading, you know, on a couple of days to the point where I couldn't even make a call because the price action was really choppy, especially on boom, boom and boom. And the reason for that is because it's the first week of the month, it's just setting the tone for, you know, whatever's gonna happen during the month. For example, you can utilize the same concepts from the Asia session on the London. Sorry, the Asia, London, New York. You can also utilize that for the first, second and third week of the month. For example, let's say that this is the opening range. Second week, you break out, you retest and then third week distribution or continuation, whatever you want to call it, to the upside, this is also a very likely possibility. But overall though, you know, things are good. The bull market's back. I don't know. But at least price action on a week to week, day to day, even a. Even then hourly to hourly basis, it's looking pretty good. Just, yeah, just seriously beware. Right now we just swept out liquidity going into bearish resistance. If you do take continuations, take it cautiously. If you start going short, might be better to wait until you get time frame alignment, which is a big thing that I look for with my system, which is you basically want all three time frames pointing in the same direction. Daily charts going down hourly is going down, five minutes going down, you take the trade. If you don't have that, then it's not an A trade. And ideally I want to be focusing my trades on A plus trades. I. All right, I think that is about as much as I can cover for today. There's really not too much to talk about. Today's pretty straightforward. Tomorrow again, I will be focusing on trading On Wednesday, Thursday, Friday, those Sunday news days. And we're going to get much more set up on those days. It's basically like trading. Today is going to be like trading the Asia session, where we're very much trading based off of a prediction. But when it comes to Wednesday, Thursday, Friday, we can trade based off of reading and reacting. So stuff has already happened. We're just reacting accordingly to whatever scenario is playing out. Today is much more of a guessing game, which is fair, but we gotta just like it's okay to trade on days where it feels more like a guessing thing. What's important is that you manage risk accordingly and to be aware that this is that type of day and you don't go like, whoa, max risk or whatever. Right? But otherwise, yeah, we're actually on the verge of selling out the next intake of Bootcamp. Like we don't even know when it's going to start yet. Probably at the end of this month. But like we already have two spots like paid for and taken. If you guys are interested to work with me one on one person, that's right, just me and you, to get you from where you are right now, to fund it within the next 60 days, then click the first link in the description box below to book a call and maybe speak. If it's not relevant to you, that's fine as well. And do subscribe to the vlog channel if you are interested, be the first one to watch it when it drops. It's going to give you a very realistic, realistic vlog as to, you know, how life actually is to be, you know, a trader and also someone who's running a business while traveling across the world. It definitely looks really glamorous on the outside. And don't get me wrong, I'm super grateful to be wearing that. But course there are also, you know, the day to day, you know, boring parts that you don't really get to see online that I do hope to showcase. But otherwise I'll catch you in the next one. Bye Bye.