The FINAL Pullback before Bitcoin Breaks All Time Highs

As crypto continues to pump out of the downtrend that we experienced over the last 6 months, most coins are already up about 2x from their recent lows. And in the case of PopCap, you're up about 5x. And yet this is just the beginning. If the last 6 months was a time that rewarded being extremely cynical, cautious, and having to think 3 times before you pull any triggers, the next 6 months are going to be completely different. The only people that win in a bull market are either the ones with With a ridiculously high IQ, or the people who are just absolutely dumb, have zero IQ, and are just able to pull the trigger, hold onto coins long enough for them to come to fruition, in general be an absolute degenerate. And yet that is what the next 6 months are going to be about. The people who end up coming out of this bull run as winners are going to be the ones who understand when is the right time to go risk off and when is the right time to go risk on. And moving forward, I do think that the risk takers are going to be rewarded disproportionately Compared to the rest of market, this essentially means that getting rich in a crypto bull run 101 is as simple as pick a winning narrative. In this case, it's going to be meme coins. You just want to buy dips. Don't think too much about it. There's not much technical analysis to do when it comes to buying dips. Daily support resistance levels are going to serve you really well, and in fact, they're going to be more than enough. Just to give you an example, last week I marked out some support resistance levels on WIF, and as you can see right here, I was planning to buy it around $2. If we take a look at WIF right now, you can see that price exactly bounced off of that support level. So you can see it's really not that difficult. And if you guys want a helping hand navigating this bull run, feel free to click on the first link in the description box below to join the Discord. Moving on to step 3 on how to get rich in a crypto bull run 101. You basically want to be holding onto coins irrationally long, even throughout dips. And yes, dips will happen because people need to be shaken out. And so you must have conviction. How do you have conviction? By placing concentrated bets into Just a handful or maybe a couple handfuls of coins that you truly, truly believe has the potential to go for 10, 20, 50x. I have made a video on how to allocate your portfolio so that you don't run into the problem that plagues most people, which is over-diversification. Diversifying your portfolio too much actually hurts you more than it helps you. But I'm gonna link that video somewhere down in the description box below. Feel free to watch it after this video if you find that topic helpful. And otherwise, after you hold on through all the dips and you achieve a 5 to 10, 20, maybe even 50x, all that's left to do is to Make sure that you secure your profits, sell and walk away at the peak of distribution. And I will definitely be making a video about this by the time this comes. Now note, I am not saying take profit on the way up. Right now we're about to enter times where being disproportionately risk-on, meaning taking on quote unquote stupid amounts of risk, is going to pay off like disproportionately compared to all the other actions that you can take. Even just looking at a random coin, let's say, you know, Binance Coin. In the last bull run, you essentially went from, in 2020, about $10 to a peak of about $700. That is about a 70x, and that is without needing to catch any sort of a bottom whatsoever. Even if you were to have just bought somewhere roughly on the way up, you would have still ended up with a 20 to 30x. But if you already have some preconceived targets in mind and not just hold on to it for like 4 to 6 months, then chances are you are going to get out way too early. In fact, If anything, price tends to stay at around this level. Like, you would have had 2 opportunities to pretty much sell the top. I know hindsight is 20/20, but the majority of the people would have sold way too early up the run of BNB. If you recall something like ADA or even AXS from the last bull run, the way you prevent yourself from, you know, selling too early is again, just hold on until you see signs of distribution. Only then and only then do you sell, and you are going to reap the majority of the rewards. Knowing when to go risk-on, risk-off is just one part of the game. You actually have to But also act accordingly. Heed the advice. I've came through about 3 bull runs now. The first 2, I pretty much made no money. And only in the last one, once I understood the concept of risk-on, risk-off and being able to switch modes, that was when things really clicked for me. There was one thing that truly helped. It's that, and I'm giving it all to you right now. Just make sure you listen and actually do it. Otherwise, let's get into the weekly outlook, which is what you guys are here for. Now Bitcoin actually filled the fair value gap as well as the value area low of the volume profile that I drew out last week. Like perfectly even. I basically just said like, hey guys, buy at $6,600 and you're gonna do well. For those of you that did, drop a comment in the comment section below if you actually follow that advice or maybe timed some of your altcoin entries with this. But otherwise, right now you would be up around 5 to 6% just on Bitcoin alone, and on other coins of course you would be doing way better. So now that this level has been filled, it is time to remove the fair value gap and I'll just focus purely on the value area low and value area high. You might be wondering what am I talking about. Well, this is the indicator that I'm talking about. So essentially last week when said was that first of all, you have just broken into the value area. So value area essentially just means that the majority of the volume, right, majority of the trading volume over the course of the last 500 candles are focused within this area here. And this becomes your value area high, this becomes your value area low. Now once you start breaking back into the value area low, or rather the value area, think of it as breaking, trying to break back into a range. And of course, if you come back to the range low to find support, then this is known as acceptance. And once acceptance happens, well, let's just say that price doesn't generally tend to fall below the value area low again, unless this is sort of just a false breakout, in which case it would have been a pretty extended false breakout. But otherwise, expect this level to hold because it has already been accepted as a fair value. And once acceptance happens, you tend to go to the opposite side of the range, meaning through the value area high, which around here is about $70,000, which just happens to line up with, you know, a previous key high over here on the daily chart. And so cannot tell you if it's going to happen this week or not, but over the upcoming weeks, I think throughout the month of October, we are going to head to slowly inch towards the value area high After which there are only 2 scenarios that can play out. First of which, you get rejected at the Value Area High, and so you will come back to the middle of the range. In which case, it is very easy to see what kind of like support resistance level that we have at around this area. If we were to extrapolate this line back to the past, you can see that the area that we will look for is about $65K. Essentially, right now you are still not too late because again, scenario 1 is that you get rejected off of the Value Area High, you come back to the mid-range, find support before eventually breaking out, potentially finding support again before breaking out again. So Given the fact that, you know, whatever we're anticipating right now is going to happen, you know, weeks down the line, and you're still underneath the area that we potentially want to find support at, means that you're not too late to catch this move yet. As simple as finding some kind of an entry around these prices, placing your stop loss underneath here, because this is your invalidation point, right? The fact that we are using acceptance as the theory means that we do not— generally means that we do not expect price to break below acceptance. If it is, that means our idea is invalidated. So we simply take the loss and we move on. Otherwise, this is a really nice concentrated risk to reward. And of course, I'm placing the trade on a weekly chart. In reality, you're probably going to be using something like a 4-hourly chart or the 1-hourly chart, and you're going to be able to find a much more refined entry. But otherwise, right now, not too late. Very clear invalidation point, very low potential risk, and very high potential reward given the fact that again, FTX you know, 6 months or so, I do expect the market to go back into a mania phase and to really cap off the 2023-2024 bull run. And chances are Bitcoin is going to be at $100K before you even know it. And the second scenario that might happen is that, you know, you just go straight through the value area high. In this case, you would be finding acceptance outside of the range, meaning you come back to retest the value area high, just like how you, you broke into the value area low, retested it, and then, you know, continue in the trend. This is going to be scenario number 2. Either way, the future looks really bright for Bitcoin and times are going to be good. But taking a look at the weekly profile, just to give you a little weekly outlook, given the fact that this is technically the first week of October— I know officially it's not, like officially speaking, like we already went through a week, like it started on 30th of September— there are only 2 ways that we can play this. First of which is we're currently still at the mid-range of last week's, you know, weekly range essentially. And a retest back into the mid-range is going to serve as an opportunity for you to get in. In this case, it's going to be right at about 62.8K. Now if price retests this area, it's going to be a generally pretty good area to get in. Refining it down to the 4-hourly chart, we can also see that, you know, around here we have a cluster of order blocks. This could potentially serve as a second area for you to get in. In fact, we just draw a fib from this low to this high right now, see that this order block lines up with the, you know, discount zone of where we want to buy. Just to refine this a little bit more, 62K seems like the ideal entry. With $62.8K being more of an aggressive entry, but both works. Now, the reason why I'm using the 0.5 of, you know, this range here, because of something known as candle range theory. Essentially, the middle point of any candle, in this case we're looking at the weekly candle, tends to provide a potential, you know, support area for price to, you know, continue bouncing off of. Either way, ideal entry would be at about $62K, but otherwise a return back to $62.8K gives you a pretty decent entry. Now the other scenario would be of course to break above the previous weekly high, to basically flip resistance into support. That's going to be your entry number 2. Now I don't know which one's more likely to happen first. One thing I know for sure is that currently we are in some kind of a bearish fair value gap and we have CPI coming on this Wednesday. So if price, right, today and tomorrow, at the— as of the time I'm filming this, it's close to the end of Monday. If tomorrow ends up dumping and price ends up somewhere around here by the time the CPI gets released, On Wednesday, expect this area here, right? If you time it together with the news, this will be likely the low of the week. And Wednesday, Thursday, Friday is going to likely see some kind of an expansion towards the upside. Don't know if we'll hit $70K right off the get-go, but over the week on Wednesday during CPI here, and then, you know, price is just going to expand to the upside. That is the weekly outlook. And so far I've been right over the course of the last 5 weekly outlooks that I've done. And if you guys want to stay tuned to get these high accuracy weekly outlooks, make sure you subscribe to this channel. And it does truly help me more than you think. Otherwise, I'll see you guys in the next video. Bye-bye.