The Bottom May Be In For Bitcoin... Enter Here

What's up guys? Welcome back to another video. Yesterday's trade ended up playing out actually towards the bearish direction. Just like what we discussed yesterday. The one hourly order flows towards the bearish direction. The order flow on the daily was also towards the bearish direction. So the correct trade yesterday would have been short. However, like for reasons that I've discussed yesterday that was just straight up a no trade. The reason being is that so far on the weekly chart we are in some kind of bullish just area and we're going to be expected to bounce from this area anytime, you know, this week or next week. The reason why that is the case is because we have a at the moment 80% chance that we're going to get a federal rate cut sometime around September 16th. I say around but it's really September 16th. And if you know anything about the risk markets is that rate cuts are amazing for new risk on assets. Stuff like Bitcoin, NASDAQ, S&P, whatever, anything that performs well in you know, stock, like speculative assets, they perform really well when you get, you know, low interest rates. For the majority of the last couple of years bitcoin has been able to form multiple new all time highs even with really high interest rates. So this is only going to be good news for bitcoin. And so with that in mind we can reasonably expect the fact that price right now is retracing into some kind of higher tankering bullish PD array a couple of weeks before that rate cut event. This is a really, you know, bullish sign. At least that is what I'm anticipating so far anyways in this video going to get into the overall just kind of higher time frame, you know, kind of play as well as today. If you guys remember from yesterday's video we said that it was not going to be the highest probability of trading days. But today that is a different story. We have news, we have clear cut direction, we have, you know, clear daily bias and yeah, that's let's get into it. And for those of you that are new to this channel, just understand that you're probably at the right place because we tend to be right more often than we're wrong. So far since I started tracking all of these calls publicly on, you know, YouTube, we have 97 wins out of the last 122 calls that we've made here on, not just here on YouTube. So yeah, if you're new, probably at the right place. But anyways, let's kick things off with the weekly Again you are in a Bullish order bucket as well, when the price is going to bounce, like again, probably within the next couple of weeks, just based on the fact that we have an interest rate hike, sorry, interest rate cut on the way. And in terms of the daily chart, yesterday's candle closed bullish, which means should be having a bullish daily bias for today. Secondly, you have also swept out this prior liquidity. This is not going to be super obvious on the Binance chart, but the moment I go onto the buybit chart, this is going to become much more clear where these are relatively equal lows left behind from the 5th of July. Basically, we haven't revisited that area for a good couple of months and right now you have just swept it out so far, price is giving you a really bullish reaction. Plus the fact that you are in some kind of weekly, you know, bullish pd, which is of course a good sign. The fact that you have liquidity present within some kind of higher time frame, just kind of support level, you sweep it out, heading into some kind of news, you can start to piece the overall puzzle together, or at least the pieces are kind of coming along. But the only thing that you kind of want to pay attention to is the fact that so far the order flow on the daily chart has been pretty bearish. And this is not going to change until at the very least you get a candle close on the daily chart above 112,500. Now, the reason why this is the case is because when price is in bearish order flow, when you retrace into bearish PD arrays, as we are currently doing right now, you actually anticipate price to get rejected off of this to form a new low. And this is purely based off of order flame. Now again, there are, this is the market. So it's like we can't always just take, you know, one factor into account. The fact that we're in some kind of higher time frame level, but we're expected to bounce right now, obviously, you know, makes the odds that we do break through much higher. But still, like based on what we currently have in the market, based on current price action, the correct move to do when you see price action like this is to actually go short. So until this happens, I, I cannot confidently say like, okay, yeah, we're definitely bullish, but if it happens, well, you know what to do. But that doesn't mean that we cannot just take a long right now because yesterday's candle closed bullish. So the advice for today is still going to be bullish. So whatever trades that we look for today is still going to be towards the long side. The scenario that I just discussed here is much more applicable if you are a swing trader or, you know, if you're dealing with longer time frames. Because here on the channel, the trades that we're calling mainly is going to be intraday, which means we're looking to open and close our trades within the same day. Most of the time it even happens within the same hour or at the very least within the same session. So that's the nature of the trades that we're calling. But if you're a spring trader, just understand that over here is already a good enough spot where you could, like, you would definitely want to be accumulating some positions here. You would look to add further to your positions. If you get a candle, close both 112500 and you flick this potential resistance into potential support, bounce from that point onwards and boom, off you go. For the swing traders. This is what you do now for the intraday traders. Well, it's time, it's time to get into it. So right now this is the bearish order block that we discussed yesterday, and we did discuss that, at least from an intraday perspective. We really want to see this bearish, bearish order block getting closed through at the very least on the one hourly chart before we can jump to, you know, switching our bias on an intraday time frame into just towards the bullish side. The fact that we have gone so close to, you know, breaking through this order block, like with the current high set at 110 600, with the order block at 110, 650 pretty much means that this is relatively equal lows at this, sorry, relatively equal highs at this point. And it's very likely that today we're going to break through it again. The yesterday's daily handle closed bullish, which means that today we're going to be looking for bullish trades. And at the moment we have a couple of PD arrays that also support this theory of PD arrays aside, we also have order flow that is supporting this theory. Just to give you an idea, the fact that we have closed above this level right here yesterday means that this is a bullish change in state of delivery. And so this yesterday became validated as a potential order block where price, if were, if it were to retrace into there, we would expect price to actually bounce from there. Now the fact that today we have closed above this level right here means that the CISD is 100% confirmed and at the very least on the, from the perspective of the one hourly chart, order flow is definitely bullish. And so when you have bullish order flow, you look to buy into bullish PDO race. So in the event that you retrace into this further gap that you retrace back into this order block right here, this is going to be an area where you would be looking to buy. And just to draw out that level for you, the first level that we'll be looking at is $110,000. Second level could be at around 109,600. And so these are the two PD arrays that we will be anticipating price to if it retraces into either one of these levels sometime today, especially during the New York session. And the exact pattern that you're going to be looking at here is going to be around 8am to 10am and the reason why this is not the usual 7am that we usually, you know, kind of prescribed is because today we have News at exactly 10am now, when you have news days, ideally you want to look for these moves to happen either in the hour leading up to the news, until the hour after after the news. So basically anywhere between 9am to 11am it's probably going to be your highest probability trading windows. So if possible, I would even recommend like just playing it safe anywhere between like 6am, 7am, potentially even 8am the ideal timing again, 9 to 11. And so if this happens between 9 to 11, you come into the zones and you start showing a five minute change in state of delivery to which the bullish direction, then that's going to be your setup for today. And the reason why you also want to wait for just a five minute change instead of delivery is because like I want you to picture this in the event that you retrace all the way back down here, the five minute order flow is going to be pretty bearish. And you don't want to be buying into bearish order flow. Ideally you want to look for some kind of confirmation that the market is giving you that, hey, you know, your thesis is indeed correct before you jump into it. If that happens at exactly 9 to 11am, then that's going to be the setup for today. And if you're wondering like, okay, is this level going to be more likely or is this level going to be more likely? Honestly, I don't know and it's not my job to, you know, figure that out either. One thing you need to understand about, you know, being a trader is that it's less about like predicting where the bottom is going to be, or predicting what the market is going to do, but more like just preparing or mapping out multiple scenarios beforehand before the session even begins and mapping out a few conditions that needs to be met before you jump into a trade. And once you enter to these areas and once those conditions are met, then yep, you simply read and react and just do whatever you've already planned to do. So the honest answer is that price could either bounce from here, which is totally valid, price could come all the way down Here form a 5 minute order flow, price could come all the way down here form a five minute change in order flow. This would be valid as well. And in fact one other scenario that you could definitely look for is the fact that this fairly gap here has already been filled technically quite a few minutes ago. And there is also a likelihood that price is going to just form like start closing above this level right here. Now if you get a one hourly candle close above 110300, that means that this is potentially going to become another bullish order block that you can take into account. So basically instead of looking for price to retrace, you would actually just be looking to trade every little order block towards the outside for the remainder of today. Now for today, like we can actually have a pretty reasonable target which is 111, 500. That's just a previous liquidity level that has yet to be filled. Potentially another one at 111-800. But to be fair guys, just like how I always recommend on this channel, every single trade, like just make sure you take some profit at 2 up because to be honest, as a trader, if you want to make a really sustainable career out of this, you don't really need more than 2R. Like if you can repeat this for a couple of times every week, like you're going to be making really, really good money. But outside of that, just to give you just a little bit of like a word of portion is the fact that again, at least from the daily perspective we are not yet bullish because this is still in bearish order flow. Right now what we're trading is just purely lower time frame. And so you need to understand that right now we're trading into some kind of higher time frame resistance here. So don't be too greedy, at least not for now. Take your profits here, here or take your profits at 2R and don't be surprised if like this call just ends up failing and price actually just dumps straight away. And that's why we need to look for that five minute confirmation in order flow. Because like price could very well just like start dumping from this point onwards. And yeah, if you don't get a five minute change in order flow, then no trade, there's no lock. And but if there is, then jump into a long because this is still super valid. But yeah, otherwise I'll see you guys tomorrow. Trade safe. Cheers.