hello gurus welcome to another episode i hope you're having an amazing day bitcoin pump last
night which is amazing hit 22 400 he actually hit my stop loss and i lost 1 500 on the trade but
again this is normal in trading you can't expect to win every single trade what you need to do
is make sure you have no more than two percent of your capital that you're using for trading as your
stop-loss meaning if you have a thousand dollars you can only risk twenty dollars on each trade
if you have ten thousand dollars you can risk two hundred dollars on each trade if you have
a hundred thousand dollars you can reach only risk two thousand dollars on each trade um if
you want hit the subscribe button during seventy six thousand people smash that thumbs up and we
can jump into the big technicals for bitcoin all all coins and we're gonna see what that is
telling us and also the s p 500 let's go into the technicals for bitcoin now we're going into
the tech now for bitcoin the market having a strong movement yesterday stocks and cryptos
look at some of the stocks the coin ups eleven percent the stock tsm up six percent qualcomm five
percent tesla's five percent which is good because i've been buying a lot of nasdaq up two percent
bitcoin uh ethereum having a pump bitcoin let's look at bitcoin first we'll go into a quick round
so bitcoin pumped out of this descending so this is good news if you followed my videos yesterday
i was very worried about this potential bear flag this one here um paul flagg and then if we broke
to the downside it would target 12k but we held here and we broke above it so very very good news
everyone and we broke above quite strongly if we can maintain this pump the base of this uh
a symmetrical triangle will be taking us to around 25 690 which is beautiful that's also a resistance
area let's see where else we have resistance here and support we also have a resistance here at 23
630 there's a resistance line um right now we're pumping up stochastic is rsi is very oversold on
the weekly on the daily rsi is heading up midway crypto group but is still firing a cell um bitcoin
is pumping here but we're getting a pullback it pumped all the way to twenty twenty two thousand
four hundred and sixty eight and then pulled back so drop quite a bit rsa is actually turning
down stochastic is overbought turning down on the daily squeeze mob is going towards the green side
interesting on the weekly stochastic is turning up but on the daily it's very overbought on the four
hourly also overbought heading down so bitcoin is actually gonna have a pullback here um hopefully
we pull back to maximum this support here we have a lot of support around this area here 21 000
uh stochastic overbought pulling back let's see what it's saying on the rsi on the four hourly
on the four hourly rsi is also heading down very overbought here so i'm careful going long
until we get a pullback ema ribbons that were above the ema ribbons and they're turning up
good news for bitcoin we broke to the upside crypto guru bought fighters by on the four hourly
let's go closer on the hourly rsi is also overbought pulling back but we're kind of making a
a bullish it's a little bit of a bull flag here um but i think we could actually pull
back to this support here 20 900 would be a good place to be going long on bitcoin
um we're quite overbought on the 15 minutes we're also now heading down rsi is overbought heading
down stochastic is oversold now let's see what the rsi so the rsi is um going down very quickly
we're overbought the only problem on the four hourly and the daily on the four alley
very overboard on the rsi and the daily we're not overbought but on the squeeze stochastic
we're overbought so on the daily we're having pullback four hourly pullbacks so i would actually
i would actually be shorting bitcoin now in the short term um but it's broken out
here so i wouldn't i would rather choose a short unfortunately my short yesterday got
got liquidated so a very quick short i would take to just this downside um opening a short
like this but it's already made the majority of the down move i would wait till bitcoin actually
came down to the support and then go long the strong support on bitcoin would actually be
around here we have a lot of strong support so i'd go long from long from here on bitcoin
i would set my stop loss just below so it's very tight trade if it hits it will liquidate
underneath that support so opening it here actually is the really strong support
so there's the stop loss and then taking the take profit
going long if we get up that bounce up at here twenty three thousand six hundred and thirty
so risking 436 dollars to make two thousand seven hundred and thirty eight four dollars
with 10x leverage that's twenty seven thousand dollars of profits that's the long that it would
take on bitcoin but it would only open at twenty thousand nine hundred it wouldn't open right now
so let's i'm if you uh if you want to trade like you're seeing me do underneath this video in the
description of the video down below you can sign up to buy bit if you sign up to buy but you get a
4 450 deposit if you've been using other exchanges or you've worried about getting hacked you can
trade bitcoin all coin you can buy spot you can do trades leverage trades buy bit is the third
biggest exchange i use them once you sign up to them um you get this trading software using that
link and in here i've got 169 357 i lost yesterday 1 500 on the trade but i had 2.2 bitcoin in here
so i actually made money on the pump because i had two bitcoin in here i've got 88 000 usd
i'm gonna put a buy order for bitcoin on spot i'm gonna buy bitcoin on sport at this support
so at twenty thousand nine hundred and fifty three i'm gonna buy one bitcoin twenty thousand
nine hundred and fifty three i'll buy another bitcoin at that position to confirm that trade
is now set and 20 three by bitcoin and i'll go along on bitcoin i'll do a five five hundred
dollar trade with 20 x leverage um actually 20 950 so the trade will open 20 962 962 i'll do a 500
trade the take profit will be at 23 685 and stop loss 20 500. 23 685 20 500 right twenty thousand
five hundred yep so i'm risking two hundred and twenty dollars to make one thousand two hundred
and ninety nine dollars confirm that trade is set open long but it will only open the long
at twenty thousand nine hundred that long is now set on bitcoin now let's check out ethereum and
the overall crypto markets so ethereum right now um on the on the four let's on the weekly very
oversold turning up that's a good sign on the daily very overbought already which is not nice
already very overbought with a very small movement so this could get if it breaks through we've got
a little bit of a w formation here on ethereum if that can break out the target will be 1500 there
but it's very overbought already without much of a movement and also on the four hourly also
on the hourly heading down so i'd be bit careful going long here it looks like it's trying to reset
on the rsi what's the theorem showing on the rsi also overbought on the four hourly
looks like we're going to have a correction here if we can hold here then we're going to break out
towards that 1500 but if we get rejected here then ethereum would most likely go to 1157.
so on the four hourly it's making new highs on our side but it's not it it fully reset the rsi so
be careful so in my opinion i think it's going to correct down a little bit the
target where it would bounce most likely would be here 119 92 so you could go short from here
opening a short stop loss just above this resistance here and take profit
take profit at that target it's a very small trade not much risk to reward ratio
um let's look on the 15 minutes on the 15 minutes also heading down on the rsa
yeah so i would actually open short here on ethereum um that clan is this short opening
at 1 000 so it's ratio 2.18 um which will be a 3.8 profit trade with 10x leverage 38 profit
that's on the theorem so i'd most likely target short and then go long from that point at 1192
now let's look at total market cap of all cryptos close to a trillion um on the daily we are now
oversold on the weekly on the rsi on the weekly stochastic very oversold on the daily
we are almost we're heading up strongly so all coins could get a pump so i would be careful
shorting ethereum actually and we had this big w and we got rejected very strongly look at that
um on the four hourly stochastic is heading down so there will be a short-term correction
on this is the entire value of all crypto markets so i wouldn't actually buy all coins right now
until we reset the stochastic on the four hourly and the daily they're quite overbought now um
better to have on the 15 minute we're oversold but yeah i think we're going to get a pullback
most likely the all coin markets the total crypto market will go to 894 billion so we're taking
out 100 billion from the market but if we can hold here then we form this giant w formation
and we if we can break out of this w but we got rejected quite strongly it's turning down most
likely we'll do this and then bounce but if we can push back up right now and get back above
964 billion balance retest then we can go long on alts but at the moment it looks like it's
getting rejected here and also it's creating a big bear flag here still we really need to get it
really needs to break above 969 billion it's very important that it does that let's look at the the
reason the crypto market's pumped in my opinion is because yesterday the stock market pumped
so let's look at the nasdaq yesterday we had a huge movement in nasdaq three percent we formed
the bottoming formation the w formation overbought on the daily overbought on the four hourly
um overbought on the hourly turning to head down so i'd be careful buying stocks here it looks
like we could get a little bit of a correction on the weekly they're oversold so that's a good sign
but it'll be better when the four hourly in the daily reset the stochastic so pull back a little
bit but this does look like a kind of higher low here which is a good sign on the nasdaq
let's look at the major area of support on the nasdaq is actually down here
9980 so we could lose another 1 800 from the nasdaq so the stock market can drop a bit more
that's when i'd be heavy buying because this pulls back the nasdaq all the way to the point
of march 2020 before the covet crash so we almost erased that whole money printing from the fed
so those are my t8 um that's my trade i have on bitcoin open over on buybit if you want
to trade again everything you're seeing here underneath this video sign up to buy it start
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you for watching this is james from crypto group and i'll see you all again tomorrow