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Welcome to BitBoy Crypto! The largest crypto channel in all the Interwebs.
My name is Ben.
Everyday on this channel, I show you how to make money in cryptocurrency.
If you like money and crypto, then make sure to hit that subscribe button.
If you want more tutorials on trading,
smash that like.
Now, in this video, I'm going to be covering the basics of Market Cipher,
the trading indicator I used to grow a 5-figure stack into a 7-figure stack in only six weeks.
If you've watched the channel more than a couple of weeks,
then you saw it. We did it.
Now, I'm going to break down how to use Market Cipher for beginners
as we look at what all the symbols mean on the screen.
So if you've been on the fence about picking it up, hopefully this will do the trick.
If at any point you would like to purchase Market Cipher,
you can do that at bitboycrypto.com/deals.
We have a special promo code for you there to save 10%,
but you only have a couple days left to do it.
Let's get it!
So here I am on Market Cipher on TradingView.
You're going to need TradingView to work with Market Cipher,
so make sure you have an account there.
Also, guys, all you've got to do to add it to TradingView once you own Market Cipher
is they're going to get your TradingView username,
and then you're going to go to "Indicators",
scroll down here to "Invite-only scripts", and you'll be able to just select it here.
You can click it on or click it off,
same thing right there.
So, as you guys see, looking at this, it can be a little complicated especially if you're newer to charts,
you're not heavy into technical analysis.
Basically, what you're looking at here,
you have some EMA ribbons that go through the middle of the chart,
but mainly what we're going to focus on today are what are all these icons.
You guys see these little icons everywhere. You got a blue triangle here.
You've got a red diamond there.
You've got these little yellow diamonds here.
You got this tiny red X here.
And as you see, as you look through the chart, you see a lot of different symbols.
Then you come down here to the bottom.
This is Market Cipher B on the bottom.
This area right here.
The whole thing.
You got several different indicators down here as well.
You'll see like a little green dot right there.
You see these big blue waves.
You see the white part of the wave.
You see green dots at the bottom of that.
You got some green dots at the bottom of the chart.
And then you have some lines here.
And, of course, you've got this green section,
and then you've got this red section.
So we're going to be talking about what all this is.
And even if you don't end up buying Market Cipher,
hopefully, what this is going to do
is it's going to show you how to understand what we're looking at
when we're looking at the charts on my channel, on the livestream, and things like that.
So we head on over to Market Cipher. They've got a great tutorial section.
In this book here, they've got a lot of information about what Market Cipher is and how to use it.
But right here, this is where the page is going to show you what all of the different icons are.
All you do is you come over here and you click the button.
So these yellow and red diamonds, as you guys can see-- oops! didn't mean to click that.
But as you guys can see here,
at the top of every candle wick-- or most of the candle wicks,
you've just got some symbols there.
So let's click on the small red and yellow diamonds.
And what you'll see here is yellow and red diamonds are trend strength indicators.
Yellow indicates bullish continuation,
while the red indicates a trend may be weakening.
These indicators should be used together with the EMA ribbons
giving a further indication to trend direction.
Consideration should be given to the color and band separation of the ribbons.
So looking at the example on the page here,
you can kind of see what this means, right?
When you've got the little yellow diamonds,
it's pretty bullish. The trend's continuing.
As soon as you hit the little red diamond, it could be weakening.
And then you guys see that after it weakens, you don't get any more of the diamonds for a while.
So what do these green dots mean on the top part of Market Cipher---Market Cipher A?
The green dot on Market Cipher A is a bullish indicator and is most reliable on 6-hour time periods and higher.
This indicator normally follows a blue triangle and should be interpreted over a range of 1 to 3 candles.
Normally, a breakout is probable when the next 1 to 3 candles print a yellow diamond.
If the next 1 to 3 candles print a red diamond, the breakout is less likely.
So, this is a perfect example.
Once again, you've got your green dot here.
And then you've got a yellow diamond,
yellow diamond,
yellow diamond.
This is a good indicator that you're about to get a large pop, like you got right there.
Now, the red X's.
Let's see what those mean.
You click on here.
The red X is a bearish indicator.
The indicator is used together with the EMA ribbons and the red diamond indicator.
The most effective usage of the red X is when it follows the printing of a red diamond
and the EMA ribbons are nearly fully constricted changing to the bearish gray color.
The accuracy of this indicator varies with the time period.
And I think that's one thing to keep in mind, guys,
is all of these indicators on Market Cipher,
the longer the time period, the more they're going to work.
I mean, you don't want to use this on the 5-minute chart and go strictly by all these symbols
because it's just not going to be as reliable.
I think the 4-hour chart is a great chart.
6-hour chart is obviously a great one as well.
The 1-hour can be pretty reliable, too.
You've just got to look at it in terms of the timeframe.
So, these yellow X's, sometimes you guys will see these in the midst of a dump.
Let's check out and see what those are.
The yellow X, as you guys can see right there, is a bearish indicator
and is intended to indicate high volume long covering that is rapidly bought up and sold short.
This market condition also presents the possible opportunity for whale traders
to exaggerate the condition by manipulating the rate of buyback
indicating a possible bottom or reversal to breakout traders.
This in turn supplies local liquidity,
then the whales reverse position forcing the market lower.
The yellow X is most reliable on the 1-hour and above time periods.
This is the indicator they say doesn't exist.
They say this indicator does not exist.
It's a whale manipulation indicator.
Every-- almost every time you see it, a big dump is coming.
So be prepared for that.
The blue triangle.
The blue triangles are a trend reversal indicator
that indicates a possible reversal of the previous trend.
This indicator is intended as an early warning that the trend momentum is decreasing
and a reversal is near.
The blue triangle should be used together with the other indicators of Market Cipher A
to provide further confirmation.
So, basically, what you're looking for here is something that indicates a trend reversal.
So, over here, on the left side, obviously, the trend was bearish,
and then you get this,
and all of a sudden, it's a bullish trend.
Now, you don't always get--
Here's a key thing to keep in mind.
You don't always get a blue triangle at the exact reverse point.
As you guys can see right here,
you had a reversal that was bearish,
this is turning into bullish,
and then when it went bearish, we didn't get the indicator at the top.
Then we got the indicator down here,
meaning a reversal-- it would have been a reversal of the last pattern
even though there was still bearish action.
So, once again, guys, when you're looking at these icons on Market Cipher,
you really need to be interpreting them as signs.
Research.
Dig into it a little more.
Find out exactly what is happening on the larger timeframes.
Compare timeframes.
Don't just get one symbol and say, "Oh, here's a green dot. I'm going to go all in,"
because as I said earlier, when you get the green dot, if you see yellow diamonds after, it's pretty bullish.
If you get a red diamond after, that means it's probably not bullish.
Then you've got the blood diamond.
These blood diamonds are extremely important.
We just got one last night.
From the time I'm recording this, as soon as we got it, boom! Market dumped.
The blood diamond is a bearish indicator.
This is a large red triangle.
This indicator-- or I'm sorry. Diamond. Large red diamond.
The blood diamond is a bearish indicator.
This indicator is used together with the EMA ribbons and the yellow and red diamond indications.
The most effective usage of the blood diamond is when it follows the printing of a yellow diamond
and the current candle is printing a red X and blood diamond stacked.
Additional confirmation can be obtained from the EMA ribbons if they are constricting trending down.
The accuracy of this indicator is greater on the 1-hour and above time periods.
So, as you guys can see right here, you've got the blood diamond,
and then you've got the red X stacked.
That is a very, very, very bearish sign.
And if all of a sudden, after that, you were to get some yellow diamonds,
it might not be as bearish,
but usually what we see is we will see this stacked together,
the price dump,
and then we will see yellow X's on the way down,
and that's what creates massive dumps.
Now, we have the EMA ribbons.
These are the lines that run throughout the chart.
So you click on that.
The EMA Ribbon indicator is a group of exponential moving averages of different lengths.
They are used to determine the strength of a trend by looking at the distance between the moving averages.
They can be used to identify key areas of support or resistance
by looking at the price in relation to the ribbon.
The ribbons can also be used to signal potential trend changes
when the price moves through the ribbons or the ribbons cross each other.
When the ribbons are blue and white, the trend is bullish.
When gray, the trend is bearish.
So as you guys can see right here,
here, the EMA is white.
That's bullish.
When it's gray,
all of a sudden, it gets bearish.
So that's probably all we can cover today.
Next time, we'll focus on Market Cipher B.
Market Cipher B is something that I use a lot,
but really to kind of understand how it all works together
and where the trends are and looking for good places,
you have to understand what all these mean.
If we were to go back to--
If we were to go back here to the indicator-- or to the TradingView where everything is,
you guys can see, I mean, look.
Now, when you're looking at this chart, you'll have a better way of understanding it.
If you look right here,
you see the EMA is white.
Look here, you see the EMA is gray.
Look right here. You've got blood diamond and a red X.
You've caught the trend reversal.
And then you've got the gray EMA,
and look what happens to the price. Straight down. Straight down.
Let's see. There wasn't a blood diamond there, but, you know, here's continuation of a trend,
and then, boom! You got the red diamond that says the trend is starting to weaken,
then you get a red X, and then, boom!
So now that you guys can kind of see this, you understand what we're looking at.
It's really pivotal that you understand every single part of Market Cipher and how it all works together
in order to give you the most advantage you can have on this market
because obviously it's really important that, you know, it's kind of like this.
Even small percentages, over time, a small edge, a small advantage,
will lead to big results.
When it comes to trading, you don't have to win every trade.
You can actually lose more trades than you win,
and you can make more money on the winning trades
because you get in the exact right time.
I mean, if we were to look here on Market Cipher,
and if we were to look, like, let's say we had gotten dow--
On this trend right here,
let's say we had gotten in a long position right there.
I mean, nothing really to indicate that we should have, but I'm just saying, for instance, you know,
if you would have gotten there,
that would be an increase of 27%.
And when you do that on leverage, that's quite a lot.
So, that is how to use Market Cipher just, you know, from the very, very basics.
Now, you guys understand what we're looking at.
If you want to check out Market Cipher, you can do that by going to bitboycrypto.com/deals.
There's a Market Cipher promo code there where you can get a discount,
so make sure to check it out.
Drop your comments down below. Let me know what you guys want to see with this.
Let me-- let me know what you guys
exact questions you have and we'll try to answer those in a future tutorial.
That's all I got.
Be blessed.
BitBoy out.