Transcription
How's it going today, guys? CIO Trading coming to you with another NPC and daily PC update video.
We still are in a somewhat of a long setup on Bitcoin, right? I've been in and out of trades. I've been taking some profits. I've been re-entering in trades. I still think that we have higher to go on the current range. Next target is going to be medium ML and then upper limit of this range. And again, it's not going to be a straight shot, guys. Not going to go straight up there. Probably going to do something like this. Chop people up. So, still in the mindset of building a position so that we can capitalize on that upside.
So the long that we created was on 820 where we wanted a retest of 109 and 111291 and we did get that retest. We did take some trades. We did profit on some trades and that's kind of all that I'm watching. There has not been many NPC prints that have stayed, which is a good thing and it's mainly because the trading range has been so tight. When the trading range starts to, you know, go sideways, you know, really kind of have like this coiling action like we've seen kind of right here. A lot of those NPOC prints are going to close that print on the daily, which again is a good thing, right? Because you're not left one down here. You're not left one down at this area to where we could go and retest. We are building that base for a move higher. And then on impulse moves up and impulse moves down, you usually have long extended NPC's that are left within that. And so as of right now, we aren't getting those. And so that's a good thing. It means that we're building a base at support so that we can continue to go higher.
Let's just get into Ethereum here in NPC prints. Again, no change, right? There's been no change. I personally would still really like to long that 4191 area. We haven't gotten it yet. We did kind of formulate a new lower term time frame range here where that's been resistance for a while. We have lows and you can kind of be trading within this range. And if you weren't round tripping things, if you weren't, you know, thinking that you caught the bottom, this was pretty lucrative. I did not trade it as well as I would have liked to, but I still think it's a decent base being built for a potential leg higher.
Now, does that mean that we go straight up for here on Ethereum and break all-time highs? I don't think so. I think that BTC is the cleaner setup. I think that it has a little bit more momentum. I've been saying that for a while that I think BTC dominance start to take a little bit of control, which mean BTC starts to take a little bit control, starts to outperform Ethereum, starts to outperform all the outcoins, at least in the short term, right? That is currently what we've been looking for. You know, that 4131, 4310, 4191 all within an area for us to be building a long position on Ethereum. And if you look at the current range, we talked about this, well discounted prices between median ML and lower limit is the discounted price that we want to be building a position. Now, it has been very, very choppy with median ML acting as resistance. I still think for me, I'm not willing to put on Ethereum again until we get these range lows or until we drop down to that $4191. Again, the move to the upside that I think would boat us best is if we did impulse above this $4500 level and then we can build another base off of prior resistance and then maybe break out, retest, and then we can get that move back to all-time highs and above that 5K area on Ethereum.
Thank you guys for joining. Thank you for being a part of trade with Castillo VIP Telegram and I will see you guys and be sending you charts over in the Telegram the rest of the day and into tomorrow. I'll see you guys Friday. Peace out. [Music]