Is The Bitcoin Relief Rally Over?!

What's up, boys? In this video, we're going to talk about Bitcoin, and we're going to talk about the DXY and why both of these matter, discuss the next move of Bitcoin, and give you guys an exact entry that you guys can take advantage of to make some money. Now, if you recall, in the last video, I mentioned that we were going to target the range highs. And in a video 2 to 3 weeks ago, I said that the target for a relief rally, or rather when you break out of this old trading range, was going to be at $21K. And $21K indeed, right? Right, spot on. You get rejected from $21K. How price action plays out if either one of these levels get hit, which I do think it's gonna get hit. And then we're gonna observe price action and see if it does like a straight dump. Now, before I do dive into the video, I need your opinion on something. So recently, something that I've been doing with the editor is producing much more higher quality content in terms of the editing by adding in visuals, zooming in, visual effects, you name it. But as a direct result of that, these videos do take a little bit of time to pump out. Usually this takes about 24 hours. So what I wanted to know is, would you guys prefer roughly edited videos but just pumped out real quick, or would you prefer those highly edited ones that make it easier to consume but might be released a bit late? Let me know in the comment section below. Anyways, let's dive into the video. So recently you just expanded out of this old trading range as You know, basically been saying will happen since like this point here. So currently what's happening? So recently you just expanded out of this old trading range, which I've been saying would happen basically since this point. Now to everyone who thought the crypto markets were super boring over the last 30 days, well, you have your opportunity now. Price has just expanded out of the range. Now the question is, are we going to get just rejected all the way back down to the range low, or are we going to create a new trading range? And in my opinion, well, there's one thing that I have to talk about first. Which is the fact that the markets generally tend to move in sort of a level 3 formation where there is sort of 2 impulse moves up and then 2 impulse moves down. And usually you get a consolidation after each expansion, and that is generally how the markets like to move. If you just take a look at, let's say, this move here, you can see that this was one of the ranges, this was the second one, and then this is the third one, right? You move in 2 impulses. So you could even say that this whole time you've just been accumulating here And the market is actually primed for a move upwards. If you considering that this is the accumulation, then you could say that the market is going to just you know just break out of this accumulation and start going into a bull market again. However, I don't think that's going to happen simply because this recession is only just starting or maybe we're just halfway, and I think there is a lot more downside possible for Bitcoin. However, I still do think that Q4 this year is going to be a pretty good year. For Bitcoin, and I expect to see at least $25K to $28K by the end of this year, maybe even early next year. So I got a little bit sidetracked with the level 3 formation, but what I wanted you to understand is if you just take a look at the chart like this, you can see that that's level 1. Currently we just broke out of it and now we're forming a level 2. So it would make sense that price is actually just going to form a new trading range, which it already is. In my opinion, this is the new sort sort of range low, and that's the range high. So what's likely going to happen is that you're just going to consolidate here a bit, fake everybody out. That is the entry that we're going to go into. I'll talk about that in a bit. And then you're gonna form another expansion out of this trading range here to the upside. Hopefully that wasn't too confusing. Now the reason why I say that this is going to be the entry that we are going to be looking for is because you draw— like, this is just a bullish order block. But even forgetting the fact that this is a bullish order block, so You can see that this move pretty much began from here. So that's the bottom and that's the top. So what you do is you just draw a fib from that low to that high right there. And roughly you can see that the 0.705 retracement is over here within this block. And why does that matter? The 0.705 is known as sort of the golden pocket, and that's the money zone. Basically, every time you retrace, you want to get in between the 0.618 to the 0.705. In this case, that would be sitting at about $19,400 or about $19,450. In my opinion, that is going to be the zone where I'm going to look for the best long, right? If price retraces back into the zone, I'm going to go real hard on Bitcoin at $19,450, stop at maybe $19,200, and the TP is going to be at the next zone because we are expecting a range expansion. So something like $22,160, it would not be an unattainable target. But in my opinion, I think $23K is the real possibility here. So I'm not saying that it's going to retrace all the way back down here immediately, but if you do get it, then I think this is the catalyst that's needed for Bitcoin to take the next healthy move up to $23K. I expect this to happen sometime during November, late November, or maybe even December. So you can apply this to most of your altcoins as well, where you want to look for a retrace all the way back here to the 0.705. That Fibonacci concept applies to every single altcoin, every single asset basically. As long as it has a chart, it respects the fibs. So just do the same thing, fibs low to high. Bam! That's how you get your entries on your altcoins and just aim for the expansion. Remember, the market moves in 3 phases. Once you expand out of a range— in fact, let me actually visualize this for you. If you draw a fib from swing high to low, and if you take a look at just the 1.618 extension, that is, you can see that price pretty much like once it expanded out of this trading range Basically just went to the 1.618. Bam! Easy. Assuming that the new trading range is going to be from here to here, let's assume, right? Let's assume we're just going to draw a fib from high to low, and we're going to look for the 1.618 or the 2 Fibonacci extension, which hypothetically speaking is going to be right about 22,600. But of course, we don't know where it's going, like where the low is going to be. We don't even know this is going to be the high, which brings me on to my next point. Remember how I said that we are going to be forming a range? And remember how I said in the beginning of the video that there might be an inverse head and shoulders forming at the moment with like this being the shoulder, that the head. So this next move upwards is going to be your opportunity to get into a short. Given that we have already broken market structure on the 1-hourly chart, during the next move upwards, I'm going to look for a short, right? And that short is going to come either at, if you just draw a fib, assuming that this is the low by the time I get this video out, then I'm going to look to short somewhere about the 0.705, which is at about $20,750. Ideally, I would like 2,900 or maybe, yeah, 2,900. That would be the perfect spot. But if you do get a wick above this level, that is going to be an opportunity for you to short because that is a sign of the market makers just pushing the price upwards to get rid of all the late shorters. Basically, once this level gets broken, a lot of retail traders are gonna immediately start thinking, oh my God, look at that, resistance has been broken. We have to close our shorts. We have to buy because resistance has been broken. So we're gonna buy the breakout, you know? Don't do that. When this happens, I need you to close your longs 'cause that is very likely going to just be manipulation and the market makers are just going to move it right down. Now, it's probably not gonna go straight down. In my head, this is what I'm imagining. So something like that before you go down. So even if you miss this entry, you're still gonna get a really good entry over there before you head back down to $19,400. And again, this move back to $19,400 is just going to be a wick as well. It's going to just trap everyone into thinking, oh my God, you know, support has been broken and, you know, you know, you should short it. And then what's likely going to happen, it's just going to be a really strong move and then bam, right, reversing. This is how the market makers make money. Remember, it is in their best interest to cause as many people to lose as possible. Because of that, they want to make the price movements really confusing and just trap as many people as possible. That's why they do things like this. Now again, this is all just hypothetically speaking, but the point I'm trying to make is that hopefully you're starting to see things from the market maker's perspective And how not to get into like just bad entries in general. And whilst this is going to be the optimal entry, we might not get it, right? We might not get it. We might just take out these range lows and then just reverse and maybe just get the other expansion. Of course, when that time comes, I'm definitely going to be making another video, so make sure you stay subscribed. And now we talk about the juicy part, which is the DXY. Now, why does this matter? Well, I've already made a video all about the DXY and how this affects the crypto markets. But just going to break it down very simply for you. When the DXY is going up, Bitcoin goes down. When DXY goes down, Bitcoin goes up. Same thing here. If you just take a look at the DXY recently, you just went down, right? Starting at October 21st around 8 AM New York time. Let's see when the pump begins. October 21st, 8 AM New York time. That is where you find this bottom and it has just been pumping ever since, right? And then yesterday at about, let's see, 27th October around 1 AM, New York time, that is when you start dumping. 27 October, 1 AM is give or take right around this point. So when the DXY goes up, Bitcoin goes down. It's a very simple relationship. Now the reason why I bring up the DXY is because this is a parabola and a couple of trend lines that I've been tracking for basically since May of 2021. Basically, if you just look at the DXY, it's been going straight up. The reason why this happens is because the USD Interest rate has been going up. The Federal Reserve has been making the USD really strong, and the DXY is called the dollar index, which basically denotes the strength of the US dollar. So in that case, you can imagine that if the USD is getting stronger, DXY is getting stronger as well. And since most risk-on assets such as Bitcoin, Ethereum, crypto, stocks, even forex—they are all valued against the USD—you can imagine if BTC USD, right? BTC USD. If USD up. Then BTC down. If BTC up, then USD down, right? It's a very simplified concept, it's a very simplified relationship, but it does make sense. So it has just been going up, straight up, since May 2021. And to those of you who were in the crypto markets back then, you would have recalled that that is sort of when the bear market or the top really started to put itself in. In fact, you could say that the real parabolic move did not start until Basically, the beginning of 2022. So I could even draw this curve all the way back there, and that would be the correct parabolic curve. So basically, throughout this whole year, DXY has just been going parabolically up. Because of that, Bitcoin has been going parabolically down. And currently, you are just losing the parabola. You can see that you're just breaking down from the parabola right now. And that is the reasoning that leads me to believe that Q4 is going to be an amazing well. Quarter for Bitcoin because you might get a retrace back up to test the parabola, but then it's probably going to go down. And here's why. If I draw a fib from swing low, let's say that the move for Bitcoin, the parabolic move for Bitcoin, began at that swing low over there and ended at that swing high. You can see that the 0.5— and the reason I bring this up, by the way, is because anything like in any range, as long as you're above the 0.5, you are known to be Like the market is known to be trading in a premium. When you're below the 0.5, the market is trading in a discount. Now, the reason I bring this up is because the algorithms that move the markets, i.e., the algorithms that are responsible for basically 80% of daily trading volume, they like to keep the markets in balance. And because of that, when you trade in a premium for too long, the market is imbalanced, right? Balance means in equilibrium. Basically, balance means the 0.5. So when you trade in a premium for too long, you wanna bring it back down to the 0.5 to rebalance it, okay? Now that swing low is going to be like, that level is going to be at about 101 points for the DXY, which I think that we will get to eventually. I'm not saying that it's gonna get to this like singular move. What's likely going to happen, you might get a retrace, then something like that, you know, some shenanigans, some range formation or whatever. Either way, either way, this, even this little move here, like even this move from 114 points down to 110 points, has caused Bitcoin to go basically from $18K to $20K, like $21K. Imagine what will happen once you get a retrace all the way back up to, let's say, 112 points, and then you go all the way back down to 107. Very likely you're gonna see Bitcoin back at $25K or even above. Keep your eye out on this level, you know, just to start, which is $107.3K. You can see that there are relatively equal lows here, which signify a lot of liquidity for the DXY. And I think that's just the level that we are going to hit in Q4 2022. So this video should hopefully give you a really clear picture of what's going to happen to Bitcoin and why the DXY is so correlated with Bitcoin. And well, basically just a couple of points to support my theory that Q4 is gonna be good and what I'm expecting for Bitcoin. Now, if you found value from this video, the people that work with me one-on-one get 10 times the results in 1/10 of the time. In about a couple of weeks' time, I'm about to start a beta mastermind of 20 people where I'm going to basically just be working with you really closely to get you to a point where you're making at least 6 figures trading crypto regardless of your account size. And because this is a beta cohort, I want to be able to get you results really quickly and really good results so that you can give me a video testimonial. And for that to happen, your account size needs to be at least $5K to $10K if you want to join this. If you're interested, just head over to Twitter and drop me a DM, and I will get back to you real quick with all the information.