UPDATE: Major CRASH Incoming?!

What's up everyone, welcome back to another weekly market update. Remember how last week we talked about Bitcoin? Any sort of buy-side liquidity sweep, meaning any sort of pump, gives you an opportunity to jump into a short. And last week we even talked about this level right here at $27,700, that if we were to hit that area, that would be the ideal area for a short. Now truth be told, I wasn't expecting Bitcoin to hit this price that quickly, but we did indeed get it. And like, we predicted the top basically to a T. Because the candle bodies, which is where most of the institutional trading volume is located at— look at the candle body, it does not go above this level. So when I talk about how the market makers and the smart money, they're manipulating the markets, and you can read the manipulation, you can predict the manipulation— this is living proof of it. And I hope that you guys watched the video last week and actually made some money, because I caught the pump, and I hope a lot of you caught the pump as well. Now, this wasn't even the final P&L for the day, and that was just on this move right there. And then we have the second move where I predicted I did a pump and dump basically on Bitcoin, and this was shared with the Inner Circle, which is my mastermind, where, you know, I'm looking for a bull setup on Bitcoin into the daily open before a nuke during news. And that's exactly what we got. I think we did about 5R in just a matter of 15 minutes, and I did do a trade breakdown of that. You're going to want to follow me on Twitter if you want to get access to that trade breakdown. I'll be sharing it on Twitter. But yeah, if you guys would like me to also make a video explaining how I managed to basically foresee this pump and dump and how you can take advantage of future pump and dumps to make money instead of losing money, let me know in the comment section below. But otherwise, let's get into the market update. So market update-wise, other than this move, we didn't get really a lot of change. Right now we are still at range lows, and the fact that this was just a liquidity sweep which led to new lows being formed currently does not give me much confidence that Bitcoin is going to continue upwards. If anything, I expect Bitcoin to continue going downwards to the 2 targets, or rather the 2 short-term targets that I've mentioned, which is $24,300 and $23,100. $23,100 Especially is a very similar type of setup here. So expect something like a dump and pump, and then maybe a future dump, or simply a dump and pump and like you know continue pump. But either way, 23,100 expect it to be a pretty strong level where you can expect a reaction. But otherwise on the bull side, right? So essentially what I'm saying is that you know moving forward this week still expect Bitcoin to be bearish, and these two are the targets. But last week I also gave you guys an area where you can look for shorts. So let's discuss that. So at the moment, what I want you to pay attention to is the fact that we have a pretty strong displacement on Bitcoin. And right now, this exists as a fair value gap on the daily chart. And if we draw a fib on this fair value gap, we can see that the middle right here is at about $26,550 to $26,572. So that's going to be your first area for a short. Um, I wouldn't necessarily look for price to return back up to this previous level here Because the imbalance has already been filled. So anybody that is, that for example went long during this move here, if they haven't gotten stopped out already, their positions are going to be open. Right now what I'm sharing with you is a glimpse into the mind of a market maker and how they like to think. Any pump that is going to go above these highs are probably going to give these people that went long at a bad area an opportunity to get out of their longs in a profit. So this is called trapped volume. So I don't really foresee the market makers like pumping it up above the previous high, which is above $27,700. This would be a, you know, what you would call a local top. So for now, this is the level that I'm looking at, but otherwise I am not a god and hence I cannot be always right. So it is always good to prepare for a worst-case scenario, which is what if you pump above this level? Well, this is going to be your second opportunity to get into a short. Remember, a short, because this again is buy-side liquidity. If buy-side liquidity gets swept, that gives you an opportunity to form new lows. And so if you sweep these highs here, the target is easy going to be $24,300. But I don't— while I don't expect that to happen, can be a possibility as well. And lastly, let's talk about a bullish scenario because, well, we cannot always just focus on the bearish scenario, even though at the moment that seems to be the higher probability move. The bullish scenario would be to have a daily close above, I'd say, the previous weekly high, which is here at about $28,150. So if price goes above $28,150 with a daily candle close, then I would start to consider Bitcoin as being bullish. But even then, you will not be too late. Even if Bitcoin continues to pump straight up to the previous quarterly high, which is at about $31,600, or even at my old bull target, which is $35K, you still have the opportunity to just momentum trade it all the way up. And let's face it, this move is not going to happen within the next week, so you guys will definitely be prepared for anything that will come once you watch the weekly market update from next week. So essentially, that is the plan for Bitcoin at the moment. I'm still leaning short. Anytime you get into this fair value gap is going to be an opportunity for you to go short. But in particular, I will be looking at this level here at 26,550-ish on the Binance USDT spot chart. Now moving on to ETH, there's really not much to talk about on ETH. Me personally, I would just highly recommend sticking to trading Bitcoin at the moment because the direction is a lot more clear. However, if you are leaning towards short, Ethereum can actually be a really good idea just because when Bitcoin dumps, altcoins tend to dump way harder than Bitcoin. And the reason for that is because during a bear market, it's important to understand that altcoins perform a lot worse than Bitcoin. For example, if Bitcoin pumps, altcoins don't really pump that much. But if Bitcoin dumps, altcoins dump a lot. Why is that? Essentially, it has to do with market uncertainty. Right now we are sort of in a pseudo-recession and inflation is sky high and everyone's really worried that they don't have enough money. This is a time when everyone is uncertain, and when you're uncertain, you invest in things that are certain. So in crypto, Even though it is a fairly new asset class, Bitcoin is the most certain crypto that you are going to get in the entirety of crypto. And hence, even Ethereum falls under the category of risky when you compare it to Bitcoin. So when it comes to Ethereum, again, I would look for shorts. Exact similar setup to Bitcoin at the moment, where you want to see Ethereum return back to this fair value gap. And then all you do is draw a fib on the fair value gap and figure out where is the 0.5. The 0.5 in this case is $1,670. So that is the level that you want to watch for Ethereum. And also remember last week I marked out the area that you want to look for shorts on Bitcoin. Well, Ethereum is arguably even more like perfect because like it just missed it by like a couple of dollars. Let's see if that was hit in the perpetual charts. And yes, it was indeed. So Ethereum was being led by the perpetual charts, like the futures, where that level there was perfect. So yeah guys, again, This is not something that I make up. This stuff works. And I actually have a free course that is no BS, no fluff. It is purely just going to help you become a profitable trader by teaching you everything that I talk about in these videos. You know how I managed to consistently predict the direction, how I know where are tops and bottoms? If you want to learn how to do that for absolutely free, like no strings attached, I have a free course teaching you that. The link is in the description box below. It is called Trading Accelerator. Now, in order to maintain the quality, I do control the quantity. So if you wanna sign up for the next intake, which will be happening in a couple of weeks, make sure you sign up to the waitlist below. But otherwise, let's get into a couple of coins that were recommended by some followers on Twitter, where basically every week before I record this video, I do make a video asking what coins you guys want to see getting charted, and Chainlink was one of them. I think the last time that I did a video on Chainlink, or rather I did an analysis on Chainlink, was when Chainlink was at the range lows here, and I was predicting Chainlink to actually hit the range highs here at $9. Clearly that didn't happen. It's been about 2 to 3 months since I talked about Chainlink. It stopped just short of that buy side liquidity over there, and don't even get me started on there. At the moment, I do foresee Chainlink going even lower than its current point right now. I expect at least a level of about $5.1. Now do not underestimate how much Chainlink, or rather altcoins, can dump if Bitcoin goes for another move down. If Bitcoin goes to, say, $24K, maybe $23K, maybe even $22K, like, you will see Chainlink easily lose another 15 to 20% of market share. So it wouldn't be a surprise if Chainlink were to return to this level here at around $5.1K. That is the target that I'm looking at for Chainlink at the moment. In fact, let me talk about one of the most common mistakes that people tend to make when they first get into Smart Money Concepts. They see every single swing low as like a potential liquidity point, and they're always wondering like, oh, Price has swept the liquidity, so why is it not reversing? Why does it like after taking out the liquidity it still keeps going lower? Well, the key here is that you have to look at the extremes, right? You don't look at the middle of the range or liquidity points where you expect a reversal. What do I mean by that? Well, if you take a look at this trading range here, you only reverse direction every time you sweep the range highs and then you sweep the range lows, then lows, bam, right? You look at the extremes, you don't look at the middle. When you are using liquidity concepts to predict a top and bottom, you are literally, as it implies, predicting a top and bottom. You don't find tops and bottoms in the middle of ranges, or at least it doesn't happen very often. You will have much more success by looking at the most extreme points rather than the middle. And if you are proven wrong, let's say that, you know, at this point here the market starts to put in some bullish market structure, then all right, I am proven wrong. At that point, I will jump into the markets then, and it would not be too late. But if you are trying to predict tops and bottoms and you are trying to predict the long-term direction and the long-term target for any certain asset, This is what you're going to want to do. In this case, I do think it's 5.1. So yes, I am saying that this is pretty bearish. And so any buy side liquidity sweeps above this high or even that high will serve as areas where you can get in on a buy side liquidity sweep in order to target that area. Me personally, I would be looking at around 6.34, where if you sweep this level, it'll probably do something like that. Bam. You know, pretty simple, pretty easy, lines up with Bitcoin price action. Or you could also look at this other level Because let's face it, if Bitcoin doesn't go as high, then Chainlink is not going to go as high as well. So either one of these levels is where I would be looking at, and potentially this one here, but I wouldn't really consider this unless like Bitcoin really takes off, because this is about like 6.6 is about almost around 8% away from current price. Really don't expect that to get hit, uh, but otherwise, um, that is the take on Chainlink at the moment. If anything changes, just shoot me a tag on Twitter and I will be happy to Reply back to you. Now another coin that was recommended was XRP, and wow! I know it has been about a month since I looked at XRP. Well, ever since I basically predicted the top for XRP over here, I mentioned that XRP was going to dump after a buy side liquidity sweep, and you know it actually just dumped. So the black lines are always the targets that I set, and the white lines are areas where you can get into trades. And in this case, the black lines were pretty much spot on. Like you can't call this better. If the editor has time. I'll get him to pull up the clip where I predict the bottom and the top of XRP. I'm gonna mark one out to the upside that is a previous swing high that hasn't been swept. And of course, that one over there, that is probably not going to get hit anytime soon. But for now, this one seems pretty realistic. And then to the downside, I'm going to mark out a significant key level, and in this case, it will probably be at this low here. And And probably this one, like, just around. Anyways, this is a perfect example of what I mean when I say if you want to predict tops and bottoms, yeah, you know, actually this is— this cannot be a coincidence because this is— XRP is like a perfect example of the concept that I just discussed, like, like just now. So when you're predicting tops and bottoms, for example, on Bitcoin, I suggested you to take a trade based off of the middle of the fair value gap, right? This is a fair value gap right here as well, and that's why the first line was at the middle of the fair value gap. Well, the reason why there was not a bounce, right, And I did mention this in the XRP video, that it would just be a counter-trend trade and not to find— or rather, not to look for a bottom here. When you are looking for bottoms, you always look at the most extreme points. For example, you can see that this trading range could arguably be starting from here until here, right? This is a trading range, meaning if you come towards this level, you have just swept the range low. If you come towards this level, you have swept the range high. You could also say that the move started like that Right, so this is where the original starting point of the move is. That is where you return back to. All right, always look at the most extreme points. If right now I were to set a bull target, I would set it right here on this candle body here. All right, just to illustrate the concept. So right now you've already swept the range lows, and there's actually a bit of news that might make it interesting for XRP in the sense that it might decouple it from Bitcoin for a, you know, a few short days because this news could potentially be bullish. Essentially, Ripple opposed the SEC's motion to appeal to a federal judge's ruling that Ripple Ripple's programmatic sales of XRP does not violate the securities law. And Ripple basically argued that the SEC hasn't made enough of a case to warrant an appeals court intervention, and that there are no controlling law questions that would lead to a faster resolution of the case. And essentially, September 8th— and I know this is a long paragraph of text, but basically the date that you want to look at is September 8th, where that is the deadline where the SEC needs to respond to Ripple's filing. And if it goes well for Ripple, that is actually a very good bit of news. And the fact that most of the sell-side liquidity has already been swept gives XRP actually a pretty bullish case if the news turns out well. And in this case, just look at September 8th, hop on around the New York time, especially the New York morning or even the London session. But most likely it's going to happen during the New York time. And all you look for is— I'm going to illustrate this on the 1-hourly chart. In fact, let me illustrate this on the 15-minute. It will make much more sense. So basically what you want to look for is during the New York you know, morning session, you want to look for a sell-side liquidity sweep, right, if you're bullish. So in that case, it would look like that, right? During the New York morning session, which is right there, you get sell-side liquidity sweep, and then you expect the— especially closer to 9:30 to about 12:00 PM, which is when the futures markets open, and then the second session at about 1:30 PM to about 5:00 PM to continue to move. Basically, you look for a, like, a reversal-type move on a news day, right? Again, similarly, if you are bullish on You know, XRP or whatever asset it is, you look for a sell-side liquidity sweep during the New York session. In this case, we did not get it in the New York morning, but technically we did actually, because any type of sell-side liquidity sweep actually works. So that is the sell-side liquidity. You sweep the candle bodies during the New York morning session and bam, you immediately shoot the other way. So that even that in itself is— imagine if you, you know, you didn't get the bottom, but let's say you place your stop even like just below those lows or whatever. And you just took somewhere like, let's say, a 3R trade, that would have happened pretty quickly for you in the sense that it would have only taken, you know, an hour, and you would have made— if you had a $10,000 account, that would have been $300. So just look for a setup like that on the day itself, and well, you're gonna get it. You're gonna make a ton of money. But if there is, you know, no news, then, you know, just relax, and we will revisit XRP in a while. And again, all of these concepts are taught in Trading Accelerator. We have people that have only joined the program for 2 weeks. Again, this is a completely free program, and we've had people— bunch of people actually— who joined it for 2 weeks and they're already well on their way to getting funded as a trader. This is the trading course that you wish you had when you first started trading, and the best part is it's completely free. And just to make sure that this video doesn't get longer than it needs to be, I'm going to end the video here. There's already quite a few concepts that were discussed in this video, and I hope you found them helpful. Till then, I will see you in the next market update. Trade safe, and may the gains be with you. Bye-bye.