Bitcoin’s About To Explode… AGAIN! Here’s All The Reasons Why.

range high here, $27,270, right around this week essentially. So that is going to be the target for this week and potentially even higher next week at about $29,500. But you get the idea. What's up everybody, welcome back to another weekly market update. In this video, we're going to get into whether or not Bitcoin is going to continue going up from here or is it going to come down, because last week's plan came absolutely to fruition. It was absolute perfection, and you know, it completely blew away our weekly target, which was right here at $29,600. The question Everyone now is having is, well, is it going to continue or is it going to come down? This is what this video is going to answer. We're also going to look at Ethereum. We're going to look at BNB. We're going to look at a potential 100x coin that I've been doing a little bit of research about. And we're going to look at QNT because one of my Twitter followers has been talking about QNT for a while. And if you want a chance for your coin to be featured on the weekly market update, simply follow me on Twitter at _TheArtOfCrypto. And every week before I film one of these videos, I will ask you guys If there is a coin that you want to see. And then besides that, I'm going to talk about a piece of news regarding the ETFs that are going to be huge for the crypto markets. With that out of the way, let's get into the video and let's start with Bitcoin. So whenever we find ourselves in a situation where we ask ourselves, is the price going to continue upwards or is it going to start retracing? The only thing that you need to ask yourself is, where is the liquidity? Once you figure out where the liquidity is, you will figure out where the market will want to go next. So what do I mean by that? Now I want you to visualize price action as a little fish, and I want you to visualize the market as the ocean. When the fish eats all the food that is below the ocean, it's probably going to come up here to look for food. Yeah, and it is the exact same theory, right? That's how the market works. When price has taken out all of the liquidity, meaning all of the food that is below, there's no reason for it to go lower anymore, right? Why would it waste its energy and swim downwards when there's no food there? Market makers are, they're hungry people, and right now Based on what I can see, the food is up top. Alright, let's look at this piece of daily liquidity here. Now this yellow circle here marks a very key point of liquidity, because that is daily liquidity that has not been tapped for literally, if I mark it out from there to there, about a year. And there are still many more points, such as here and here, which have not been tapped for over a year now. So you might be wondering, haven't the food up top, on top of the ocean, already been eaten? So let's dive into it. Just to break down my thought process, I do expect a mild retracement to $29,600 in the near future. In fact, this is going to happen in the immediate short term, probably today based off the time that I'm recording this video. It is Monday morning, so chances are you're probably going to get a retracement back down to $29,600 either today or tomorrow before the market continues higher. Now, why $29,600? This is simply put a fair value gap, where you can see that between the wick top of the previous candle and the wick bottom of this next candle, there is absolutely zero price action on the daily chart. This marks a fair value gap. So the initial, or rather the beginning of fair value gaps, tends to be a pretty solid entry. Now, if I were to tell you what is my ideal zone for a retracement, it is going to have to be by drawing a fib and then identifying anywhere that is below the 0.5, because Anything that is below the 0.5 is called a discount. Basically, the way I— the best way I can put it is like this: if I sell you an iPhone for $2,000, you're probably not going to buy it, right? Because I'm selling that iPhone to you at a premium. And currently, because price is on top of the 0.5, this is known as a premium, meaning if the market makers want to build the largest positions possible, they're going to want to bring the price down below into a discount in order to do the buying. It'll be equivalent to me selling you an iPhone for $200, you're probably going to buy it without a shadow of a doubt, right? But is that actually going to happen? You know, I don't actually think so right now. I believe that the play is currently just on this fair value gap here because liquidity still exists on the upside. Just to show you what I mean, if we pull up the Bitcoin CME futures gap, we can see that that gap exists at around $35,200. So coming back to the chart that we were looking at before, $35,000 There is actually no daily fair value gap over there, but if we zoom out to the weekly, perhaps we might find something that is around here, $35,200. Now you're going to want to mark this out on your chart regardless of whether or not you follow along with the liquidity concepts or not, because BTC CME futures gaps have always historically been very good at predicting bottoms and tops. Just to put it as an example, you have a CME futures gap over there, price goes to $69K, and then guess where it finds its, you know, temporary bottom? at the CME futures gap. Same thing here, price has literally left the CME futures gap for about 2 years, I reckon. Yeah, almost 1.5 years. And guess where it found its bottom? You know, 1.5 years later, at the CME futures gap. So like, historically speaking, and also over here, CME futures gap, look at that bottom. You really want to pay attention to the CME futures gap. And right now, this gap just happens to line up with the 0.618 and the 0.075 of the Fib. when you look at it from a macro-level stance. So what I'm trying to get at here is that there is a lot of confluence around this $35,200 level, or rather just the $35,000 level, which is why I've been talking about Bitcoin to $35,000 for a while now. Because CME gaps tend to act as a magnet on liquidity, price seems to just be attracted to gaps because imbalances in the market tend to get filled. So coming back to the chart, because our target is still towards the upside, I reckon that it's just going to fill in a little bit of the liquidity void down here, So just slight retrace before continuing upwards. Because the mistake that we did in last week's video was, for example, I drew a fib from here to here and price like didn't even come close to the 705 or the 618, which would have been an ideal level to buy into. And price just, you know, just took off, at least at the moment, right? This is what I think. This level here at 26, like 27,600 would be ideal, but I don't think we're going to get that. Instead, what I think is going to happen is price is going to retrace into this fair value gap, you know, just do a little bit of shenanigans, and then, you know, continue taking off. Or it might cool off, who knows. Either way, the target remains to the upside at around $35,000. And before I proceed into telling you a piece of news that, you know, is huge for the crypto market, I just wanted to let you know that we're about to launch the free trading course. Now I know what you might be thinking— most free courses suck absolute crap— and I get it. This is not going to be one of them though. I'm actually going to change the way that you trade. If you see a lot of the things that I talk about in these videos and you don't really understand them, well, now you're going to have a chance to understand them. I'm going to be laying down most of the things that I trade with inside the free course. If you want to sign up to the waitlist, the link will be in the description box below. Just to control the quality, we're going to be limiting the amount of people that's going to be coming in, so the earlier you get on the waitlist, the better it's going to be. Anyways, back to the video. Now, the SEC has just approved the first leveraged Bitcoin futures ETF, and this is absolutely huge because this is first of its kind in the United States. And this ETF is filed by VolatilityShares, and it is a 2x Bitcoin futures ETF, and it will start operations in fact today on June 26th, 2023. Now this is coming at a time when BlackRock and a bunch of other companies have recently applied for a Bitcoin ETF. And guess what? The news doesn't stop here because there is another piece of news that just proves that the conspiracy that the SEC lawsuits were planned to let these Traditional actors enter the market, you know it's it's hard to hide. So this is the other piece of quote unquote evidence. So recently there was a crypto exchange or rather a digital asset platform called EDX Markets that just launched with the backing of major traditional firms such as Charles Schwab. If you don't know who that is, you should look him up. Citadel Securities, which is pretty much the biggest sort of market maker inside the United States, or at least one of the biggest. Fidelity Digital Assets, which is also huge. Sequoia Capital. And like many others, in fact, this is sort of the market maker trifecta, or like the market maker Avengers super team or whatever, who's assembling this digital asset platform. Essentially, they are making a move now into crypto with an official crypto exchange. And guess what? It's coming at a time where all the lawsuits are happening. You have all these securities and blah, blah, blah that caused all this FUD that led you guys to believe that it was bearish. And guess what we were talking about? We're saying that there's no reason to be bearish. All of this is just FUD. Turns out it is FUD. Look at what price is doing now. So guys, it's very important to have a bit of patience when you're waiting for price action to do its thing. It does take quite some time to play out, especially when we're looking at it from the daily chart. So just remember that. Anyways, now this EDX is aspiring to be the quote unquote crypto marketplace of choice for industry leaders. Essentially what they're trying to do is take over Binance. And you know, for the people in the US, this is actually a pretty good sign because you guys have literally zero access to any crypto exchange out there, and EDX might probably change that. And for the rest of the world, overall, this is pretty bullish news, especially in the long term. In the short term, it doesn't really affect the markets much, but definitely something to know. And guys, remember, the next time you get a bunch of just like really bad news that just comes randomly, you guys know what to expect. It's always these market makers just playing their tricks. And always look at the price action because the price section is going to tell you what you need to know. News is just something that you can use to back it up. Everything that you need to know is going to be in the price section. Right, now that we have gotten the news out of the way, let's talk about Ethereum real quick. Given the choice between Bitcoin and Ethereum, I still wouldn't trade Ethereum. Again, the thing that you must understand as a trader is that you want to trade less, but you want to trade the best. Currently, Bitcoin is still looking better than Ethereum. So if I had a choice between Bitcoin and Ethereum, I would still go Bitcoin, especially after last week we talked about the Bitcoin dominance still shooting absolutely to the sky. And Ethereum is simply not going to start moving until Bitcoin dominance starts going down. And I expect this to continue to happen until Bitcoin, like, just starts consolidating somewhere. At the moment, it doesn't look like it's going to start happening around here. Who knows, might still continue to pump. Right now we still got a lot of momentum, but until Bitcoin starts consolidating, there's not going to be any money flow that flows into the altcoins. And that means Ethereum, and as well as all of the other alts. The update on Ethereum is, you know, pretty similar to Bitcoin. Given that we're expecting a slight retracement into the fair value gap on Bitcoin, the level that I would be watching for Ethereum is going to be here at $1,832.7. Now, that is the 0.5, or rather the mean threshold of the daily fair value gap over here. If you retrace back into here, that's going to be a pretty good catalyst for you to lead into higher prices. Now, in terms of higher prices, where are we looking at? So currently, I want you to visualize this. This is the range low for Ethereum, and that is the range high. And what I mean by that, you can see that most of the price action has just been trading between these 2 levels. What I mean by range low, check it out, that liquidity was just taken out, and beautiful, right? That's range low. And then you have the range high where you have formed relatively equal highs over here, and that is the range high. So currently the target for Ethereum, given that the food at the bottom of the ocean has already been eaten, is going to be at the top of the ocean, which is around here at $2,142. So that remains the target for Ethereum. And if and when Bitcoin starts consolidating, as long as Bitcoin doesn't do one of these things and it does something like this before coming down, then there's a pretty good chance that Ethereum is going to shoot like even higher. So essentially Ethereum is going to keep lagging behind Bitcoin until Bitcoin dominance comes down, which is when Bitcoin comes down. And then the target for that in that case is going to be about $2,500, so about $2,585. That's going to be the target for Ethereum in the medium term. But for now, retrace probably go back higher. Although if I had a choice, I would still stick with Bitcoin. So recently I did an in-depth research, or rather an in-depth thread on Twitter, into why Lukso could potentially be a 100x coin. So in there you will see the fundamental reasons why I think so, or rather the research behind why I think so. And if you want to check out that thread, I'm going to put a link to that thread in the description box below. But otherwise, that is the fundamental side of things. This is going to be the technical side of things. So immediately, range high, range low. Most of Luxor price action has been between these 2 levels for basically in the near past. So at the moment, we have just taken out the liquidity that is below the range low. So from the daily chart, it might seem like we're just going to target the range high, but there is another layer that we need to add to this analysis because it's not as simple as that. So if we go on to the weekly chart, we can see that in fact price recently just got rejected If I draw a fib from this swing high to this swing low, which is a pretty macro level for Luxo, then price recently just got rejected at the 705 on the macro level. This also means that on the weekly chart, price is still forming lower highs and lower lows, which means technically speaking, it's bound to go lower, at least from the weekly chart. So there is one thing that can change this. Currently on the daily chart, you have already gotten pretty strong displacement. At the moment, you're still holding, you know, some kind of support at this mitigation block here. But that doesn't really matter, at least on the lower time frame. You have just gotten what is known as a change of character. So this is step 1 in any sort of potential change of trend. So right now you've just gotten the change of character. So immediately what you do is you bring a fib and look for, you know, some kind of retracement area. And in this case, we can see that we have a potential retracement area at around the 0.5, where if we draw a fib on this fib— sorry, on this fair value gap, We have the 0.5 that lines up with the 0.5. So at the moment, the level that I would be looking at is somewhere around, you know, 9.13 for a retracement into a potential buy area in order to go higher. Now the stop loss for this— this is just my idea at the moment, things can change in the markets pretty quick— but my idea for this would probably be, you know, an entry somewhere around there and probably stop just right at the end of the fair value gap. And as for the target of this trade. Remember, range high— whenever you take out the range low, you always target a range high. So this is going to be target number 1, which is at about $15.27. This is about a 15R trade, which means for every $100 that you risk, you stand to make $1,500 back. And this is about 67% from the entry point. Now that is going to be TP1. TP2 is going to be coming somewhere around $21.04, which is going to be at about 133% from the entry point, which makes it a 30R trade. So that is the idea that I have at the moment. Now, is it risky? Yeah, you know, kind of. Not really, because you stand to gain so much more than you stand to lose. And also, it is a calculated bet following Bitcoin's price action and the fact that the markets are sort of doing a little bit of a rally right now. It's a good idea to take advantage of the price movement to ride a 67% wave or even a 133% wave. Given that the food down here has already been taken. You know, that's major, major liquidity that has already been taken. But there is one last thing that I need you to keep in mind. We are still technically on the highest time frame, on a macro time frame, in a bearish futures market structure. In fact, if we look at it from, you know, macro bearish view, then the target for this down move is actually going to be right here at around 60 cents or like 55 cents, which is a long way away from current price. And it could happen. But I'm just saying, this is taking a bet against the trend, but it is a worthwhile bet because you've done the research. Currently the markets are rallying, we have a change of character on the daily chart, and you know, at the moment we have a pretty good retracement level. Are you going to lose? Maybe. Every trade has a chance to lose, but that's where risk management comes into play. So just manage your risk and you will be fine. But coming back to BNB, we talked about this for last week, how if the price breaks, let's say, $220, then it's just going to be a free fall all the way down to minimum $150 and potentially even $40, because there is just a huge, huge liquidity void that has not been filled for, let's see here, about 2 years at this point. So currently there is still no change with the BNB situation. Price is still sort of consolidating here, which is sort of a bad sign, because if the markets wanted to go up already— I mean, you look at the rest of the markets, it's tanking, like it's shooting absolutely to the moon. And then you have Binance. Then you have BNB, which is doing absolutely nothing. Now, there is one saving grace, potentially, kind of, maybe, not really. Honestly, nah, I don't see it at the moment. It's still consolidating. If I was you, I'd probably be selling a little bit of the BNB. Again, not financial advice, this is just what I personally would do. Again, you got to remember that the markets do not function like a supermarket. Just because the price is low does not mean that it is a good buy. If you walk to the supermarket right now and you see toilet paper going for sale 90% off, You're probably going to buy some, right? Even though you don't need it right now because you're like, oh hey, it's a pretty good deal. But that's not how the markets work. Just because something is 90% down does not mean that it cannot go another further 90% down from that current point. So again, just because price is low and, you know, people tell you, oh, it's a— BNB is a fundamentally good coin or whatever, doesn't mean that it's a good buy at the moment. The price action is telling you, or at least it's telling me, um, that it's probably going to go down now. Things could change again. We will revisit this coin next week because BNB is something that a lot of people hold, including myself. Don't get me wrong, I love BNB. It was the coin that made me the generational bull market wealth in the last bull run. Absolutely love it. I still hold a lot of it. But the fact of the matter is that the price action is currently not looking too good. The only saving grace would be that currently we are at range lows and that is the range high and you've just taken out range lows. So hopefully we pray for a retrace to the range high. But at the moment, that's not how it's looking like. And lastly, we're going to talk about QNT. Now, this was brought forward by Batworks from Twitter, that works. I see you. If you want your coin to be featured on the next market update video, just make sure to follow me on Twitter at underscore the art of crypto. I ask you guys what coin you want to see every time before I film one of these market update videos. Anyways, for QNT, it is actually looking you know pretty decent. Now, it hasn't started moving yet, unlike most of the other coins in the market right now, which has already moved, and you sort of feel you sort of feel uncertain if you should enter into those coins or not. Oh, QNT is one of those coins that hasn't moved yet. So let me put it into perspective. Currently you have a range low, you have a lot of liquidity down here. Now the ultimate liquidity that I would like to see getting taken out is going to be at $90, which is the bottom of the ocean in this case. If $90 gets taken out, then 100%, like, I'm going to be giga bullish on QNT. It's a similar situation to where you have liquidity down here, right? Bam, bam, bam, bam. Guess what happens when all of the sell side gets taken out? Same thing for QNT. Liquidity down here, If all of these gets taken out, you get explosive move to the upside. Bam! The target for that move is going to be at the minimum $145, which is— if you do the calculations, if you simply buy at $90 and just sell there, that's a 60% gain. But anyways, that is still in the future. So currently, based on what I can see— actually, I might have seen wrongly. I'm going to take away that, you know, long entry. Currently, I still think that just based off the chart, either price is going to bounce from here Which currently it's kind of, kind of maybe not really doing. So here's the situation. Either at the moment, just based off the current price action, there's only 2 things that can happen. Firstly is you get a break of structure above, I'd say above these candle body highs on the daily chart. The moment you get a candle body close above these daily chart candles, you're probably going to see some form of an order block either here or here. And if you can't find that, what you need to do is you just draw fib from swing swing low to whichever the swing high is and just look for any retracement level between the 0.5, 618, or even the 705. That's going to be, you know, scenario number 1, which currently, you know, I don't really know it's going to happen or not. What I can see though, the price recently just filled in this bullish order block and it's currently going up. So if you want to take a risky entry, if you're already, you know, a believer of QNT and you want to see it go up, then my entry would be, you know, just right here at where current price is, and I'm going to put a stop at about, you know, 101. Or if you want to be safe, I could put it at 98.4, because if price comes back to 98.4, then you know it's invalidated. But for me, in this case, 101.5 works just fine. So the target for this is going to be again at the untapped 1-day buy side liquidity, which is at about $145.5, and this is going to give you about 38% return with about 10R. Now that's going to be entry number 1. Secondly is you can wait for a change of character over here and then wait for price to retrace back into an order block before going in. That will be the safer entry. And last, like, the ideal state for QNT is 100% going to be $90. If you take that out, there is no reason for the markets to go even lower. Like, it's very unlikely that the markets are just going to tank to these fair value gaps down here before pumps. So even if it pumps, like, yeah, you know, that's just the plan for QNT. And of course you have further targets that's going to be like medium-term to long-term targets, which is at about $190 and $200. But anyways, if you watch until this point so far, then it means that you're a pretty special person because you have a pretty good attention span and it shows that you're serious about learning. Here's the thing, you can watch as many of these types of videos as you want, but chances are the only thing that you're missing is not more information because you can find information literally anywhere. You can learn anything on YouTube. Chances are the reason why you're not trading profitably yet is because you lacked some sort of guidance, someone to tell you what you're doing right or what you're doing wrong and to guide you onto the right path. If what I said Sounds like I'm speaking to you. I want you to go into the link in the description box below, and I want you to book a call because chances are all you needed was a little bit of guidance and you're going to take off, and your trading game is going to absolutely take off. Until then, I'll see you guys in the next market update video. Bye-bye.