What is going on, everybody?
Welcome back to the channel!
My name is Frankie Candles.
And in this video, I want to talk about how you can make a ton of money in crypto
without waiting for the bull run.
We're talking crypto gains regardless of price action.
If that sounds good to you, hit that like button,
subscribe to the channel and watch until the very end of this video
because I've got the sauce on why TA changes everything
when it comes to crypto trading.
Let's get into it!
This is the No. 1 trick in predicting markets.
I'm going to give it to you here in the first minute of this video.
So here it is.
Technical analysis is based on probabilities.
At anytime we're looking at the charts,
it can absolutely be said that the next move could go in either direction.
It's that dreaded saying "it could go up, it could go down" that nobody wants to hear,
but that's because they're not hearing it correctly.
TA is about collecting information
and deciding what is most likely going to happen next.
That's what I'm teaching over on the Frankie Candles YouTube channel.
And the Candle Mafia is taking it all the way to the bank.
So before we go any further, make sure you hit that subscribe button,
smash the like and click that notification bell.
So let's get into why probability is so important and how you can use it to make money.
To do that, we've got to hit rewind and revisit some of the times
when the market could have gone either way and TA gave us a map
when we were in uncharted waters.
The first stop on our trip back to the future of crypto is April of 2022.
Bitcoin just had a huge double top that took six months to complete.
We got to almost $60,000 the first time and then $69,000 at the second top
on November 8, 2021.
The Grinch stole some of our crypto gains in December.
And by April, everyone was wondering when the bull market was going to restart.
Prices had cooled off to $40K.
And a lot of people wanted to see a moonshot to at least $100,000.
Many people were calling for that number on YouTube, in crypto news,
and even in the mainstream media.
Expert predictions mostly agree that $100,000 would be the top for Bitcoin.
And I know.
I wanted to believe it as well.
But one thing was holding me back.
And I'll tell you about that in a second.
Crypto would capture the attention and investment capital of the masses.
It seemed unstoppable.
Like, maybe the 4-year cycle was going to break and we'd see a supercycle for Bitcoin.
It seemed possible that if Bitcoin regained momentum,
it could get to $100K,
or even smash through that to $300,000!
Some were even calling for a million.
But, guys, in all this positive sentiment,
there was something that caused me to go against the grain
and say what no one wanted to believe at the time.
And that was that the bear market may be coming up sooner than we thought.
The reason for me thinking this was that I spotted a blood diamond starting to pop up
on the weekly timeframe for Bitcoin.
Now, if you don't know what a blood diamond is,
simply put, it's just a very bearish signal.
And when you have a bearish signal like that on a high timeframe like the weekly,
it could be catastrophic.
From supercycle dreams to bear market dread.
I can't say my opinion was very popular at the time.
I got absolutely roasted in the comments.
But let's go back and define what a supercycle is and why everyone thought it would happen.
Bull and bear markets are written into the Bitcoin code.
They're there to catalyze the price, making sure we don't get too bored
and that the value increases over time.
That's how incentives to secure the network keep going
and ultimately how Bitcoin stays alive.
As you know, the bull market is triggered by the Bitcoin halving
when block rewards are slashed and there's a supply shock.
Less Bitcoin becoming newly available makes it harder to get.
And price only has one place to go.
And that is up.
A supercycle in Bitcoin would mean skipping the bear market entirely.
And a lot of people were calling for that in April of 2022
when it looked like we were getting just a pullback.
And there have been supercycles in things like global commodities.
CoinDesk's crypto news roundup for April 21, 2022 was talking about
"faster mainstream crypto adoption" spearheaded by German institutions
and "bullish" news of Bitcoin's 3-day price rally.
In April of 2022, people were googling things like "What crypto will soar in 2022?"
or "What's the next crypto to explode in 2022?"
In retrospect, the answer to all of those questions were none of them.
But at the time, everyone felt mega foolish.
And like I said before,
I would love to see a supercycle too.
All that positive sentiment and investor attention in crypto was the bull case.
The "maybe it goes up" half of the argument.
But the blood diamond showed me that even though everyone was so bullish,
it could actually go down,
low enough even to start the bear market.
And this is exactly what I was talking about on the live stream
at the time when I was getting absolutely roasted.
That's when I started telling everyone,
"Hey, I know we've got Tom Brady headlining FTX,
Snoop Dogg is buying up NFTs,
and a Bored Ape Yacht Club hit an all-time high floor price of 128 ETH on April 30,
but there's a pretty good chance that we could go down."
That's the thing with TA.
Monkey pictures were the same price as a 2-story house.
Couldn't have really gotten more bullish than that.
And, sure, we could have gone up from there,
but the TA was pointing to a Molotov cocktail coming our way,
of interest rate hikes from the Fed,
the LUNA collapse followed by FTX, Three Arrows Capital, Celsius,
and the whole gamut of insolvent exchanges and lending platforms.
I say this a lot in TA,
"Show me the charts, and I'll tell you the news."
Although we didn't know what was next,
the chart showed us something might be brewing.
This happened again when FTX collapsed in November of 2022.
But this time, we were getting the signal in the opposite direction.
It was a total shock.
After all, it was a crypto company that seemed too big to fail.
And when it did, everybody expected lower lows.
Don't forget, FTX imploded after LUNA collapsed,
Celsius froze withdrawals, and exchanges were becoming insolvent.
Crypto had been hurt so badly already.
And it seemed like this news would push the price lower.
And a lot of people were looking at price targets such as $10K,
which, by the way, many people are still forecasting.
Once again, though, the charts gave me the contradictory indication.
It looked like there was a possibility
that we could be forming something called a bullish divergence on the weekly timeframe,
which a lot of times could mark the bottom.
If you're interested in how to spot these on the chart
so you can take advantage of this stuff as well,
check out my YouTube channel, Frankie Candles.
Now, this signal gave us the indication
that price might want to start back in the upward direction.
It almost didn't make sense.
FTX owned a lot of digital assets
and was connected to a lot of crypto projects and companies,
so why wouldn't it take crypto prices down with it?
But the technicals were strong.
And I had to call something that no one expected.
Not only could we go up,
but this could potentially be the bottom of the bear market.
That was around when prices were at about $17,000.
Every good technical analyst will give a bull case and a bear case,
reasons that price could go up or could go down.
The trick is really looking at the bear case and the bull case
and then deciding what the more likely outcome is
and going with a trade plan that gives us the best shot at a win.
And that's how the Candle Mafia stays on top.
Which, by the way, if you guys aren't a part of the Candle Mafia,
don't forget to drop a sub on my channel, Frankie Candles.
And with all that being said, guys, that's all the time I got for this video.
See you in the next one.
Frankie Candles out.