This Week Will Determine If The Bitcoin Bull Run Continues Or STOPS (Weekly Outlook)

What's good, guys? This week is going to be the biggest week in all of September. Potentially even the biggest week for the rest of the year. The fate of the bull market, and I am not trying to clickbait you here, quite literally depends on what happens this week. If we get a good outcome, the bull run is going to continue all the way till December. And for the foreseeable future, if we don't, then new things are going to look shaky. So I'm going to break this down in this video. Before I get into it though, there are two types of people who are probably watching this. One, you have come from my market updates. So this video is going to serve as kind of like the weekly upload video that I'm going to refer to in every single daily trade video so that I don't have to spend five minutes in every video trying to explain the same thing over and over again. Because the truth is this is a higher typhoon video and stuff that happens on the higher time frame, guess what? They're not going to change in a couple of days. So rather than spending five minutes every day repeating myself again and again, this I'm just going to refer back to this video at any time. So secondly, if you're new to the channel, understand that I'm making daily trade calls on YouTube. So far my public track record is 106 wins out of 131 trades publicly. Keeping track of this on Twitter as well as well just right here. So if you're looking for more intraday trade setup, then feel free to check out the market update videos. I basically make a new call there every single day from, you know, Monday to Friday and 7am New York usually. But without any further ado, let's dive right into the video. So, so kicking things off on the weekly charts so far, like we closed Bearish last week as well as the last couple of weeks. Right now though, we are tapping into some kind of bearish resistance. However, I think that this is going to be more likely than not broken through because if you just take a look at bitcoin on a higher timescale, the market structure is still very much intact. And until basically like 100 and like 100,000 gets broken, like you are going to remain bullish for the foreseeable future. If anything, you could have said that this entire down move here was just a retracement to fill in this bullish order block right here before price continues on for higher prices. So if you're a swing trader right now, there's no reason to be bearish. If anything, there is all the reason to be bullish. I'm going to get into another reason soon once I get into the news. But another thing to keep in mind is that a bullish order block is known as a PD array. And PD arrays tend to be just areas of freely high probabilities called resistance. For example, here, the bottom formed at some kind of a F gap. Over here is another F gap. FER gaps and order blocks, again, they are basically the same. They're both considered PD arrays. And over here, the bottom formed at a F G as well. So if we do form the bottom here at this order block, this is going to be, you know, one of the first times throughout this whole bull market, because so far, like price has always kind of found support at F gaps rather than at order blocks. So hopefully this is the first time because if this works, then price is just going to jump higher. Now, the second thing that we want to pay attention to is news. This one right here known as Federal funds rate, or fomc. Now, once a month there is a FOMC meeting, and once a month, the United States Federal Reserve tends to update their central bank rates. Now, the reason why this matters is because there is a 90% chance, at least based on the betting markets at the moment, that the interest rates are going to go down. Now, the reason why this matters is because Bitcoin is known as a risk on asset and risk on assets like Bitcoin, like the nasdaq, like the stock market, whatever you want to call it, as long as something is speculative in nature, they are going to highly benefit from market conditions that are favorable for liquidity. But I want you to think of it this way. When times are tough, people are probably not going to spend money unnecessarily, right? They're going to focus on surviving. They're going to focus on putting their money into food, into rent, and just in general surviving. It's only when the economy is really good and they're like, people are making more money and, you know, liquidity is abundant and money's flowing that people start looking into, you know, speculation, right? How do they turn the existing bit of cash into more cash? And that's the type of condition that bitcoin and other risk on assets thrive in. You know, during the last bull market in 2021, the, you know, 0% interest rates was a huge reason why bitcoin, as well as all of the other altcoins were able to pump to the kind of valuations that they did because the market conditions highly favored them. Now, the reason why I bring this up is because we are projected to have three rate cuts to run the end of the year, which means this month, next month and some other month before December, we are going to have three rate cuts and that is potentially going to drop the USD interest rates all the way down to 3.5%. Now, I don't know about the, you know, other two rate cuts, but this one that's going to be happening in two days is pretty much certain. So it's going to drop from anywhere between 25 to 50 basis points, which if you know anything about central bank rates so far is that the USD is one of the only currencies, only major currencies out there that hasn't dropped the interest rates yet. Yet. Whereas, you know, stuff like the Aussie dollar as well as the Canadian dollar, even the euro and even the New Zealand dollar, they have all dropped the interest rate multiple times in fact, in the same period that the United States dollar has not dropped. So this is just going to kind of set the precedent, or rather set the stage for a really bullish, you know, Q4 heading into the rest of this year. And so with all of this kind of adding up and the fact that, you know, if you want to take a look at the more traditional metrics, if you may call it that, like the fear and greed index, you want to look at stock to flow, you want to look at, you know, moving averages, rsi, whatever you want to look at, like nothing is pointing to the fact that the bull market is over. So all of this adds up to the fact that this is going to be a week to pay attention to. And the way that you're going to want to take advantage of this week is again because you closed bullish. The way that a Power 3 works is that if you're bullish, you want like this is the weekly open so far. You want to look for opportunities to buy underneath the weekly open so that you can ride the wave higher before the market closes. This is very similar to here, right? The market opens up here, you form the bottom of the week underneath the weekly open and then you pop. Same thing here. If you're bullish on the week, you're going to weekly open. You want to look for buys underneath the weekly open. Write the move higher and that is going to be your power of three. And so if we kind of narrow this down, what areas could we potentially look at? Well, guess what, we have a favority gap over here. And we potentially have a. Is it a favor gap? I don't think so. Yeah, it is actually a favorite gap right there. So we have two favorite gaps to look at at the moment, plus some kind of a bullish order block. Because now that price has closed above, this entire block area, starting from 112,400 is going to act as potential support. But the key areas that I'm going to be looking at is 104,750. Sorry, 114,750 as well as 113,400. Now, at this point, some of you may ask like, okay, which one is going to be the bottom? The truth is, I don't know. And it is not our job as traders, slash investors to try to figure that out as well, because that means that we're trying to predict the market. And if there's one thing that you can be certain of is that there are hedge funds and huge funds earning billions and trillions of dollars who are hiring the smartest minds in the world to try to figure this out, to try to predict the next move in the market. And they are not able to do so, despite all of their ethics and despite all of their resources. So there is no way in hell that me or you, the Irish Joe, is going to be able to figure this out. And so rather than trying to predict what the market is going to do, which is mark out a couple of key areas that, you know, if the market were to return to, we can potentially take advantage of that inside a move. Now just to kind of narrow this down even more, we can potentially look into the four hourly chart to see if this kind of lines up. And you can see that this fair bit gap here also turns that line with kind of like an order drop on the four hourly chart as well. So in the event that you retrace into this area, just understand that this is going to be a high probability event. This is going to be a high probability area. And of course, I will be updating this throughout the rest of the week in my intraday videos. But I want you guys to come back to this video, or at the very least, I'm going to direct people to this video so that they understand kind of like the weekly outlook for bitcoin moving into bitcoin this week. Now, secondly, let's take a look at the best, or rather the higher probability trading days for this week. And it's going to be right here on Tuesday, Wednesday, Thursday. Ideally, you're going to want to focus your trading on Tuesday, Wednesday, And Thursday, because Monday you have no news and Friday you have no USD news, you only have JPY news. Which means that these three days, like one beautiful thing about trading, especially with, especially if you understand stuff along the lines of smart money, is that you can really understand the concepts but just the timing of when these moves happen will highly dictate. Like it'll add like an extra 30% to the win rate just because of timing. And these days are a prime example of what is known as good timing. Because on news days the market participants, especially the smart money are going to be much more active in the market. Especially if you consider the fact that this is one of the historic rate cut events like this one. This is going to be one of the, you know, at least very likely so far historic FOMC events. Then you have a recipe for just amazing trading days on Tuesday, Wednesday, Friday, sorry on Tuesday, Wednesday, Thursday and potentially a choppy Friday, potentially even a choppy Monday as things kind of like set up. So anyways, now that we are done with bitcoin, let's take a look at Ethereum real quick. So I'm sure there are a lot of you here who are interested in Ethereum as well. So last week you closed bullish, which means same thing here. We are going to have a bullish weekly bias, meaning right now the fact that you are going underneath the weekly open is already a bullish sign. Right? You want to look, start looking for buys here and going to the daily chart you have this fair bit gap at the moment that price is currently filling. We're either in the process of filling and you have this order block right here. So either one of these blocks starting at, well the order block starts at 4,444 as well as the February gap so far start well started at 4600, goes all the way to 4485. But just understand right now you are underneath the weekly open. So either one of these two zones, like if you're slightly longer term trader, you're a swing trader, you're a higher train frame type trader, doesn't matter. This is where you kind of load up. Now secondly, it's Solana. Right, let's take a look. Sorry. Thirdly, Solana definitely close, super bullish. If anything this is probably the most bullish shot out of the three. And if given the opportunity I would definitely focus on this one. So in terms of this you also see that there's just a bunch of F gaps here on the daily chart. You have one here, you have Another one here. You have another one here. Like just. It's pretty straightforward so far. Now, there's one kind of word of advice that I can give you is that try to focus on just one, because ultimately if something happens with the news and, you know, things don't happen as we expect, which happens more often than you think because we don't know much about the markets, if you start taking like three long positions on all these three coins at the same time, you're going to have a pretty. You're going to be in for a really rough time if the trade ends up losing. The thing about crypto is that it's all the same chart, just with kind of like different packaging, right? It's just a different brand name. Essentially. Bitcoin dumps everything. Dubs is just, okay, Ethereum. It's just. Some of these charts are just called Ethereum. Some of these charts are called Fartcoin. Some of these charts are called. We're going to get into to meme territory here. But just understand, like, it's the same chart with different packaging. And knowing the higher time frame and stuff is all good and dandy, but it doesn't matter if you like the moment you jump into the lower time frame chance, you start getting lost. Feel free to check out this video that I made, teaching you exactly how to first identify the higher timeframe and then how to stick to it. Rather than getting lost, rather getting your conviction shaken whenever you see some lower time frame move going the opposite way. Check it out.