#Bitcoin Will Do This Heading Into 2022: #BTC Weekly Update

What's up everybody, welcome back to The Art of Crypto, the birthplace of absolutely legendary gains. In this video, we are just going to do a quick little update on Bitcoin so that you know what is going on and what to expect during the weekly open. And you know, welcome to Bitcoin Update Sundays or Mondays. Right before I dive right into it though, I'm doing a $2,000 giveaway on my Twitter, so make sure you head over to Twitter at _TheArtOfCrypto Follow that and you know take part in the giveaway. It's just um just my way of giving back to the community because I um you know there's no way that I would be where I am right now if it's not for you guys. So you know massive shout out to you guys and you know it's just a small little way for me to give back to you guys other than trying my best to make the best free content that I'm able to make. So with that out of the way, let's jump into Bitcoin and. For starters, you can see that there has, you know, Bitcoin respected this trend line right here for a couple of times, even 3 times right here. You did get a mini bounce off of this trend line. However, recently you have just broken below the trend line. And not only that, you know, this is, you know, generally could be, could be, right, keyword could be, a sign of bearishness where, you know, we might come up, come back up, retest the trend line, and then, you know, start dumping. So for now, let's try to figure out like What entries you should be paying attention to for Bitcoin. So immediately, let's draw a fib from that swing low over there to that swing high over there, and you can see that the 0.705 and the 0.168 sorry 618 lies in this order block right here. So in the event that Bitcoin does get back to this order block right here, you're going to want to pay attention to this level right at 49,000 right 49,100 and sorry 49,150 as well as 40 48,800 right give or take. Make sure you pay attention to these two levels because. Once Bitcoin comes back to either one of these levels, you're going to want to look for a bounce off of this level. So you could even place a trade over there, stop loss beneath the order block, and target probably like that, right? To like— there's going to be an instant bounce, right? Could that be the bottom? Absolutely. But I'm not banking on it for a couple of reasons. First of all is Bitcoin Volatility Index. Now what this tells you is how, you know, when is Bitcoin about to make a big move. And As you can see, during the last big move for Bitcoin, you can see that Bitcoin volatility formed a consolidation pattern and then it broke out of it, right? That's when, you know, when you start to see a pattern like this forming on Bitcoin Volatility Index, you know, you might want to be careful and perhaps get out of the market. In this case, you can see that Bitcoin Volatility Index is currently very reset. So if you just go, historically speaking, right, just go back in time all the way and just plot out like some areas where historically there has been some kind of reaction, right? Some very key support resistance lines. And once Bitcoin volatility— once BVOL goes back to that area, then it would make sense that it's ready to make another move. So at the moment, throughout this whole weekend, you can see that Bitcoin volatility has stayed very, very low. As you can see, nothing's really happening on Bitcoin, right? It's just formed this little range and nothing much is happening. So be careful with Bitcoin Volatility Index, right? There could be a big move coming tomorrow. As for where the direction of that big move, we're going to figure that out later. But for now, let's also discuss Bitcoin dominance. Now, this chart tells you what percentage of the market cap does Bitcoin hold, right, in the totality of crypto. So the lower this number, right, the lower the percentage means that altcoins are going to do well. So in this case, you can see that this is not looking very— it's not looking the most prettiest because it is going back down, right? Currently, Bitcoin dominance is at a level that we have not visited since May of 20— like May this year, right? And could there be a bounce here, right? And if we do bounce, right, this is— the entire market is going to go into pretty much like a 3 to 6 month, you know, sort of altcoin bear market, right? I'm not banking on that happening, but it's just a possibility that you want to watch out for. At the moment, you can see that, you know, Back here, back here. So historically speaking, what do the odds tell us? The odds tell us that it is more likely to find support than not, right? We go even further back, right? This is May '21, this is September '21. Yeah, right there. So does this mean that we have to be careful? Absolutely. Does this mean that the market is going to go into a bear market? Absolutely not. Although there could be a risk that we might go into a, you know, 2 to 3 month bear market. But I am still very optimistic about what 2022 is going to bring us. So absolutely do not, you know, just lose interest in crypto. Right now is the time to be getting into crypto, like for real. So back to Bitcoin. So that's the reasons why I would assume that this is probably not going to be the bottom because Bitcoin volatility is very reset. In the event that Bitcoin takes a big move down, then no way it's going to just stop over here. But you can definitely place a couple of orders at this block right here to try to take advantage of a 2 to 3% scalp on Bitcoin. To, you know, just catch some bottoms. But personally, I would place my TP at about $50,300, right? So that's going to give you— so let's assume that you just place that order there, you put your stop loss beneath the order block, and then you place your target at $50,300. That's going to give you a risk-to-reward— yeah, just 1:1 risk-to-reward ratio. It's not the best, but, you know, you can absolutely just, you know, have a shot at this trade. So the second trade, which I would much higher, like much more highly recommend is to draw a fib from that swing low over there to this swing high. And you can see that the 0.705 lies in this order block right here, which I do deem to be much stronger than this one simply because of Bitcoin volatility. So in the event that Bitcoin gets back to these levels that I'm going to mark out, right, 1, 2, 3, and about 4, right, this is called dollar-cost averaging, and it gives you the best chance of getting the best entry For you know whichever trade that you might be looking at. So this right here is what you call a bullish order block. Now notice how you have some kind of imbalance over here, where basically from this point onwards, right, there is no price action, absolutely no price action at all. And this is what you call an imbalance. And to most of you who are in you know the traditional markets, this would be called a CME futures gap. In fact, we could even take a look at the CME futures gap right now and have a look that. During the weekend, it ended up at $50,900. So this, you know, this means that the market is probably going to make a push up to this level before, you know, before the true direction shows itself. And if you want to figure out exactly what I mean by, you know, these— how these market makers like to move the market, I'm gonna put a link to a video that I made a while ago talking about, you know, how to read the market, you know, how to tell order flow, how to use order blocks, how to spot order blocks. and how to use them to catch the exact bottoms. So assuming that we're going to make a push back up here, right, there's a very good chance that we're going to wick just a tiny bit above $51,100 or maybe even to $52,000 before the true direction shows itself and starts dumping. You know, could absolutely be a possibility. And in the event that if it does go pump up back to about $51,100, it lines up with this theory that, you know, it's going to perform a bearish retest on this trendline right here. And you know, probably going to dump. Just giving you a scenario here. So if you wanted to, you could even take a short order right here at 51,100, place your stop above the previous high right there, and your target is going to be this level right here at about 50,000. It's going to give you about a 2.5 to 1 risk-to-reward ratio. Just giving you an example of how I would choose to play this. Although this is going to be high risk, just understand that because of the CME futures market closing where it closed, there could be a chance that we make a push over there during the monthly close. So back to this entry right here is going to be a very, very, very key level for Bitcoin to hold. If you do not hold this level, there is a good chance that you're going to go even lower. So make sure you, you know, like, I don't know about you, but I'm going to be taking a bet over here, right? I'm probably going to ignore this entry, right? And I'll just split it up into 3 entries, right? So in my personal opinion, I'm going to go for a long At $47,500, $47,100, and $46,600, with a stop loss beneath $45,400, right? $45,400-ish. So the targets— I'm going to get into the targets for this one, but this block is very important. If you do not hold this block, there is a very good chance that you are going to go even lower. And as for how low, we're going to try to figure that out together. First of all, you're going to want to look at $44,000, right? This is going to be the first line of support for Bitcoin if it does get there, if it does really perform like some kind of liquidation event. This is going to be the first line of support. Now, the reason why I say it's going to be at about $44,000 is because over here you have the beginning of a previous order block, right? Let me just draw it out. So basically, this block right here, that's a bullish order block. So in the event that you come back here, it's going to line up with 2 different things, first of which is you have equal lows over here, right? And whenever you see equal lows in the markets, you always want to be careful because the market makers understand that Most of retail is going to be looking at this level and they're going to be like, wow, that's strong support, so let's go long there and place a stop loss below. So the market makers know this, everyone knows this, and so they're the ones who move the markets. So what they're going to do is just going to wick it down just a little bit before pushing it back up. Now if you remember back then, right after the liquidation event, right, right after this, I made a video saying that this low right here— I don't know if you can see it— this low right here is definitely going to be attacked. You are going to see a wick just a tiny bit below that level. So let me just zoom out a little bit so that you can see this, right? I mentioned that— sorry, this wick right here, that was on the daily chart. I made a video on a 4-hourly chart. So I said that no matter, like, until you take out this low right here, you are not going to start pumping, right? So this low right here, look what happens. Look what happens, right? The wick just goes a tiny bit below it. And if you want to understand why this is the case, why the market makers like to do something like this, check out a video that I'm going to link on the top right-hand corner as well. It's going to teach you about why the market makers do things like this and how to not get caught up by that. You know, I'm sure you guys have had a lot of instances where you place a trade, right, and then it just reverses completely, and then later it just pumps. You know, just giving you an example. If you don't want to fall for that, you know, check out the video that I'm going to link on the top right-hand corner. But otherwise, this level lines up with, you know, if you take out these equal lows right here, it's going to go through a short little dump, right? Just a quick little touch into this level, and then it's probably going to bounce like 5%. Just giving you an example in the event that something like that does happen. So that's going to be the first line of support. And then once that is broken, right, once this is broken, you know, maybe place a stop loss 2 to 3% below this level and take advantage of this, you know, that recovery pump that way. But the second scenario that you want to consider is you want to place your orders at $40,839.600. Similarly to this stop hunt event right here, right? Just like how we're going to take the stop bounce. If the market makers on a macro timeframe, on a higher timeframe, want to take the market lower, want to reprice it lower, then what's going to end up happening is it's going to be something like this. Bam, bam, and then bam, right? You're going to come back down here to take out the liquidity, especially below $4,800, because anyone who went long pretty much at any point over here got a free ride to a new all-time high. So it makes sense that they would want to reclaim this liquidity over here. So in the event that it does, you know, if it really starts breaking below $44,000, then please place some limit orders at $41,000 and $39,600-ish to take advantage of this liquidation, you know, sort of recovery pump. I'm not saying it's going to happen. In fact, I highly doubt it's going to happen, but just want to be prepared for whatever happens. And then as for the absolute bottom, Like the absolute bottom, like period. Once you get that entry, you are going to be set for months, like the next year pretty much. That's going to be at about $35,000, right? If it comes back to $35,000, right, please set an order over here. I'm not saying it's going to happen, but if it happens, take advantage of it. This is going to be the bottom for a very, very long amount of time, right? After this has been taken out, right, there is no more, you know, sort of imbalances that the market makers would find would want to fill in, basically. And not only that, but you know, you've taken out all the stops over here, right? You've taken out all the liquidity. And then what's going to happen is all the liquidity is going to be up top, right? For example, over here you have equal highs, so expect them to be taken out eventually, right? I'm calling it now. You've like— you will definitely pump above $52,000, right, just to take out these stops. But you know, the market has to do its own thing, which is to move, which is to gyrate from areas of the highest liquidity. It basically just gyrates between areas of high liquidity, right? If the liquidity below here is more interesting to these market makers, they're going to reprice it. They're going to reprice the asset lower. And if the liquidity exists towards the upside, then they're going to reprice it higher. That's simply how it works, right? Over here, liquidity, liquidity, bam, bam, right? Notice how you go just slightly above, right? Again, I'm not making this stuff up. Look at this high right here. You pump just a tiny bit above that high, All of retail is going to be like, oh, new time, all-time high, price discovery, let's go long, and they get absolutely wrecked. Again, I talk about it in this video that I'm going to link on the top right-hand corner. Don't get caught by this stuff, okay? So just a couple more things to look at before, you know, we end this video, which is the monthly close. At the moment, the Bitcoin monthly close is looking absolutely beautiful, right? Over here is a zone of demand, okay? This is a zone of demand on the monthly chart. This is otherwise called a bullish order block, right? At the moment, you are filling in this bullish order block, and it makes sense that, you know, the only way to go is up. So as long as we close the monthly above pretty much like $47K, right, we're going to be set. It's going to— that's going to be a beautiful monthly close, and hopefully, you know, we really do go pump from there. And another piece of data that I would want to share is it comes from my private Discord group. Which if you're interested, this is where you'll be able to, you know, follow along with all of my trades that I'm going to call, as well as take the trading course to level up your trading education. If you just want to take this seriously, you know, this could be a pretty worthwhile investment. We pretty much make money every single day, and you know, you're pretty much going to make back your money pretty, pretty quickly. So if this is something you're interested in, along with all the market updates as well as all the coins that I might be looking at, check out the private Discord group. The link will be in the description below. So basically, one of the members— I'm not going to take credit for this because this is his work and I'm just shouting this out, right? The balance on exchange is increasing, right? And the other times when BTC was transferred to exchanges, like a high number of BTC transferred to exchanges, you tended to get, you know, some kind of a drop. It ranges from 10 to 20% up to about 27% to, you know, about 40%. I'm not like The May 19 crash is probably not going to happen, so I'm expecting some 10 to 20% drop at most. So you know, just be aware of. I've prepared you for both scenarios basically, and you know, just don't get wrecked. Okay, trade safe, guys. And as for the take profit levels, you know, honestly, you can just literally mark out all the levels that I have. Right? All the white lines that I have, they're going to be pretty good TPs. None the like regardless of anything that happens. Right? Going to be at about yeah, you know, just. I'll just zoom in and you guys can mark these out. But yeah, I hope I have prepared you guys enough. Oh yeah, one last thing, one last thing. I am still bullish on Bitcoin, okay? I am bullish on crypto in general heading into 2022. I am not expecting crypto to pull off some multi-year, you know, just bull, bull, bull market. But I do expect that next year, just based on macroeconomic factors— and I'm talking about real, like, real-world macroeconomic factors, right? Not relating to crypto. I'm talking about inflation, I'm talking about tapering. I'm talking about just so much debt in the whole world, right? It feels like a ticking time bomb, right? It's the everything bubble, basically. So I do expect that 2022 is going to be the year where it's not going to be particularly fun for the markets. Let's just put it that way. So when I say I am bullish on crypto heading into 2022, I just mean like I want to catch that last leg up for crypto, right? I believe in the technology and everything, but If it means that I have to lose all of my profits that I've gained over the years, I'm not going to be cool with that, right? So, you know, I'm expecting just one final push, one or two final pushes for crypto before probably Q2 to Q3 2022, and then that's probably going to be the end of the party, you know, just the way that I'm looking at it, right? Still very early to tell. One of the hardest things to do, which is actually pretty much impossible, is to time the market. I'm not claiming that I'm going to time the markets, but if I see warning signs of us heading into a bear market, you know, I'm definitely going to be making a video. But otherwise, I'm still bullish on crypto. Absolutely. Like, forget just making money from crypto. The technology is just exciting. And in a 10-year time span, none of this is going to matter. But at least most of you are not thinking in a 10-year time span. And so this is why I'm making videos like this, right? For now, remember to check out the $2,000 giveaway that I'm doing on my Twitter. Check out the private Discord group if you want to follow along with all of my trades. And for now, made again to be with you, my friends.