hello gurus welcome to another episode i hope you're having a beautiful day we're going to
jump into the chart so bitcoin bitcoin is pulling back quite strongly today um it dumped pretty
much the entire gain of yesterday we're going to jump into the charts back into the channel
i'm going to show you technical analysis on bitcoin what i think is going to happen
i'm going to show you any trades that will open all coins and my thoughts on the market
i'm here in beautiful pizza restaurant in the south of france it's epic
um which is going to be good we're going to jump into the charts hit the subscribe button join
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and this is not financial advice i'm showing you what i do with my money in the markets and
you have to make your own decisions with your money i'm just showing you what i've been doing
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and for the last 20 years of my knowledge of investing and i'm showing you what i do with
my money you have to make your own decisions i'm not telling you what to do just showing
you what i'm doing live in the markets every day let's jump into technicals for bitcoin now
we're going into the technicals um bitcoin is on the four back inside oh that's crv let's
go into bitcoin bitcoin dropping again fully erasing yesterday's gains look at that we had
yesterday gained from twenty eight nine thousand five hundred all the way to thirty two thousand
and then boom dropping again and that was actually kind of double top formation and an m pattern
that's not good if we break here we come to the bottom of the channel which is most likely 27 000
actually for yeah most that's not the bottom of the channel that's the the alt the previous
this is the bottom of the the current channel 28 500 and most likely we'll hold there but the
more attempts we keep attempting on the bottom of this channel the most likely it's going to break
we after that we have a really strong support down here at 27 500 that's when bitcoin that's
got a very strong support line going back two years let's see if it can hold here but until
this channel breaks we respect the channel and we assume that it's going to hold and we broke above
the channel yesterday and we got faked out again but that's two times in a few days so bitcoin is
actually trying to push to the upper end it's actually making a kind of new new channel here
a new channel between the top of this one which is 31 000 and the bottom of this which is 29 000 so
it's kind of trying to form a new channel but we respect the previous channel until it's confirmed
but at the moment bitcoin is actually in a higher channel at the moment it's also channeling upwards
as you can see here bitcoin's been going upwards lately it's channeling upwards if it moves to the
upside of this channel this time it'll be 33 000 let's see if it can do that but again for
the last month it's been within this channel and we respect this channel until it changes
so from 28 500 to 30 700 that's the current channel and we respect it until it changes
a few breakouts and then coming back into the channel is not changing the channel at the moment
but it is good sign that it's moving up there was a huge sell order bitcoin was pumping went from 29
600 to 32 and then someone sold in that hour at 3 a.m around 69 000 bitcoin at 3 a.m so
it fully erased yesterday's gain stochastic very oversold rsi now is oversold also heading up and
squeeze mop is going back to the red side so that pump is finished we're back underneath
the ema ribbons again turning down it still looks in my opinion like a bottoming formation though
it's bitcoin as i said if you've watched my previous videos it takes time to form a bottom
we've got a big support here at the 29 000 area crypto guru bot is again firing back to so it's
flip-flopping around bitcoin indicated but there's too much chop called the cell before it happened
nicely on the bitcoin indicator but look at that interesting you get it in the master course so
right now bitcoin in my assumption it goes to the bottom of the channel 28 500 and then just
continuing to long down here short up here long down here short up here until we break out of the
channel that's what i'm going to be doing on the hourly um a lot of volume coming in on that cell
stochastic oversalt but i still think coming down to the bottom of the channel we also seem to be
forming here a symmetrical triangle everyone's seeing this we've got a symmetrical triangle
forming here and they usually build pressure build pressure and they break to a direction
usually the direction of the trend so that would be the upside about 70 percent of the movement
so if that happens you'll be breaking around this distance the base of the triangle and
it'll break around 70 percent of the movement so it'll be around here let me try and grab it
here on the 11th of june we could be getting a breakout towards the 35 000 area at the 11th of
june so let's see if that plays out um but at the moment bitcoin is still on let's see if it holds
but i think going to the bottom of the channel i'm going to show you where i would open the trade
um if you want to trade like you're seeing me do underneath this video you can sign up to buy bit
in the description and ping comment you get a 4 600 sign up when you sign up to buy it and start
trading and you also become part of my trading team by bit has released as you can see here d
trader we're stoked to inform you that you're now a squad leader for the bibit trading team
um bibit is releasing their they've got a wsot world's largest crypto trading competition
with eight million dollars in prize pool 8 million usdt to be won so we want to be the best trading
team you also get 50 early bonus 20 trading fee discount limited edition nfts lucky draws and an
8 million dollar prize pool if you join my squad again to join the squad the link is down below you
get that 4 600 bonus when you deposit bitcoin and start trading nordvpn if you have any restrictions
that's the part to become part of the bible trading team and over on bibit my account took
a hit here it went back to 200 000 now back down to 188 000 so around the 12 000 swing yesterday um
i've got busd bit i've been stacking bit 49 000 bitcoin i've got one and a half bitcoin in here
crv 23 000 which i bought a lot yesterday luna luna taking the biggest hit around 20 drop today
and i've got no bitcoin trades open my long opened and then got liquidated by that drop
so i lost 800 on that trade but that happens in trading that's why you have tight stop losses so
now we're out open along is i'd wait till the bottom of the channel again bitcoin at
the bottom of the channel stop loss below that week and then targeting the top of the channel
and we just keep playing the channel game that it's been in for the last few months
um so the trade will open twenty eight thousand five hundred and fifty four stop loss at twenty
seven thousand seven hundred take profit at thirty thousand seven hundred i'm risking seven hundred
and eighty two dollars to make two thousand one hundred dollars on leverage 10x leverage twenty
twenty thousand dollars this is the trade i'll take this is what i'm going to open so twenty
eight thousand five hundred and fifty twenty seven thousand seven hundred so i'm going to open
order price thousand dollar long order cost twenty eight thousand
twenty eight thousand five hundred and fifty that's when the trade will open oh it's a one
thousand dollar trade sorry twenty eight thousand five hundred and fifty will open the trade
um it's going to be at let's do a 5x long so it'll be a 5 000 trade confirm and my
take profit will be at the top of the channel so 30 600 and the stop loss will be 27 uh oops 27
700. 27 700. this is me setting the trade before it starts so i'm risking 1 000 sorry risking 148
to make 359 confirm that trade is now set open long so the take profit is at thirty
thousand six hundred it's a five thousand dollar trade confirm that trade is now set
it will open at twenty eight thousand five hundred stop loss of twenty seven thousand
seven hundred take profit at 30 700 so to take profit is slightly wrong take profit at 30 700.
which is beautiful that's my order that's my trade for bitcoin again if you want to trade
down below in the description pink comment signing up to buy bit and you join this um wsot
world trading competition it starts on the 10th of june so make sure you signed up before then
i am now squad leader and our goal is to win this 8 million prize i'm crazy how
the channel you talked about while ago still holding you always read i love how you give
feedback to community will grow and keep growing beautiful reference um bitcoin knowledge me family
and this is the this is a ascending channel that bitcoin is in right now as i talked about this
one here you can see bitcoin is in an ascending channel see here how it's moving upwards so at
the moment we're in an ascending channel and either can break to the upside or the downside
but ascending channel is moving upwards at the moment that's a good sign um also why web3 and
nfts look at this spotify creator revenue for 2021 spotify seven billion dollars paid out to creators
11 million artists so the average creator got 636 dollars youtube the average creator artist
got 405 dollars and youtube doesn't actually pay very well meta average creator got 10 cents 300
million to create is 3 billion users average user 10 cents and nft's 3.9 billion paid to create is
22 000 creators averaging 174 000 that's why web 3 and nfts are so powerful because it's
giving power back to the creators um over on by finance i've got 330 000 this account taking you
hit six thousand dollars so i lost around twenty thousand dollars um in these two accounts five
hundred thousand so it's around eight percent yesterday busd usdt i've got around 100 200 000
in here bnb i've been stacking bmp took a big hit because the sec announced um that they're going
to be pro being financed so the sec is looking into finance which is not so good for binance
but binance is one of the biggest exchanges they have hundreds of billions behind them
so i really think they will be able to combat the sec but this pushed down the price of b b
and i'm going to be buying more of it um actually i'll buy some b b now i like stacking b b
every time it has a big drop because usually it has a big bounce and this is one of the
biggest companies in the world so i'm going to buy another let's buy another
oh i can do b and b b usd b and b b usd so i buy another five thousand dollars worth of
b b right now buy confirm done that order is set thank you for watching everyone those are
my thoughts on the market that's what i'm doing join the wsot by bit champion trading champions
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every video thank you for watching this is james from cryptogram i'll see you all again tomorrow