Transcription
Hello everyone. I hope that you've had a good weekend so far. Before I begin to review Bitcoin's price action, as I promised that I do today, are you guys hearing me loud and clear? Just confirm. There you are. Thank you. Is, are you guys seeing properly? Chart? Good. Everything okay? Okay, amazing.
Okay, so yeah, as I said, I'll just be reviewing reviewing Bitcoin's price action today. And before you guys can get a good understanding of why price reversed, you must know that there was a higher time frame level that was the base of this move, this down move right here. So now we're currently under the one time frame from which you can see this beautiful setup. Price ran about these relatively equal highs and then reversed. So we'll go to the Daily time frame to see the level which price tagged. So it's this high over here, and I'll just put the lipstick on the chart so you can see. So this is the old daily high which caused price to reverse first. Well, it was the base of the setup. So we'll go back down to the one hour time frame to investigate a little bit more.
So this is the old daily high that we annotated just now. So you can see Tuesday when we had Tuesday when we had, okay, I'll use this. The first time you guys are going to see this, this is the new indicator that my friend 2 degrees on Twitter made. It's completely free. I am not sure if he released it to the public as yet, but if he does, I will put the link in the main chat. So this is, this is really good. I love it. I don't think I'll ever be charting without it. I don't have to go to forworks.com anymore, Forest Factory anymore to to see the news events. I can just plug it right here and it'll be on my chart. So it was at this time last week, which was last week Thursday, which we had unemployment claims, CPI, and core CPI releasing. This right here, as I talked about about the past Sunday, which would be a catalyst which would cause price to reverse. This is in, this is engineered liquidity. So this candle right here is [Music] where is what caused price to push above that old daily high and clear this buy side liquidity. After this happened, price shifted market structure below this low, this swing low right here. This is a swing low because this low is lower than the one to the left and the one to the right. Right? So this became a breaker. When price closed below it, price traded back up into the breaker, which was the reason for this buying pressure that pushed price above of this old high, this daily high, this old daily high and cleared this buy side liquidity. So when price went back to the breaker, it had no reason to go back above this side because the work had already been done. Price swept buy side liquidity on the current time frame, which is the one hour time frame. It tagged a a old daily high, which is a higher time frame PD in itself, and it shifted market structure. So after price shifted market structure right here, that's when the change in the state of delivery took place. And I stated in my, in my analysis in the live stream that I did on past Sunday that we should expect Thursday to be reversal. And I am not sure if I did, please correct me if I didn't, but I think that I stated that Thursday should form the high of the week for certain asset classes and it should form the low of the week for certain asset classes, which it did. Right? So yes, going forward, this will be the type of thing that I will be doing most of the time. I'll be giving you guys my thoughts on the markets before it happens. Right? So this is the way that you learn, you know, when I, when I give you a certain time, I expect you to take it to heart, you know, go into your charts, mark that time before, you know, we even get to that time, and you'll see certain things repeating week after week. And your reticular activating system will begin to pro, will begin to take that information and yeah, you'll just, you'll just be able to see these things happening over and over. You'll know when the news will be there, even when it's not the present week. Right? So it's like the coming week, you'll even know which news event should be there. Right? So next week already, even if I don't look at the economic calendar, because I've been doing this for so long, I know that Tuesday and Wednesday we should have some red news events. Right? I, and I have haven't really looked at it yet. Right? You will be able to see these things happening without even marking your charts. Right?
So another thing is which made this really high probability, which is why I thought the price would be, would continue the trend that it began in Thursday on Friday, sorry about that. It's due to the fact that there was another, it's due to the fact that there was another red news folder event on Friday. Right? I had anticipated that price should run above this liquidity right here and this liquidity right here. Right? So I, um, there was a, I think the first video, the first video that I made, I highlighted this high and told you guys that buy sell liquidity rested above this high right here. Also, I talked about this down move before it happened. And when price was around here, I, on Twitter, I'm not sure if I said it in a video, I stated that we should expect the late shorts to be taken out and then we can expect another down move. So as you guys can see, there is no hindsight in place. And my accuracy, even though it's good, it's not perfect. It's not every time, you know, I will get everything correct, but that's okay. That's why we have risk management. Another thing to take into consideration is there was SMT divergence between Bitcoin and Ethereum on Friday. Right? So I remember sometimes C on here after this had happened, I tweeted that I, I don't, I don't really remember the tweet, but I'm pretty sure that I was stating that I'm expecting [Music] a a macro, a shift in macro trend. You know, Bitcoin has been going up for a while, Ethereum has been going up for a while, stocks, everything has been going up for, which I don't believe that the S&P 500, NASDAQ, and probably not even Bitcoin is finished. We're going up, but now it's showing us, you know, weakness before the time. Quote unquote. Uh, you guys already know I'm very strict when it comes to time. Right? So until at least the 24th to 25th of this month, I, we can still see price, you know, fill in gaps right here. You [Music] know, stuff like that, trade above old highs. You can expect the S&P 500 and NASDAQ to rally a bit, you know, drop and rally a bit, and then that would probably be the final rally. Right? Going into the spring months. So yeah, that's all that I have to share with you guys today. And we will be having, of course, the real live stream tomorrow. Today, I just wanted to talk about Bitcoin. Right? I just wanted to answer a few questions pertaining to Bitcoin. So yes, um, I hope that you guys drew something from that. Right? And yeah, I'll speak with you guys tomorrow at 6 PM Eastern Standard Time. Uh, I'm getting a little bit more free time now, so I think that we'll be, we'll begin to have, um, a few more streams that I had planned to have with you guys. Right? I'll talk to you guys tomorrow. So yeah, have a nice night or nice morning if it's morning for you. Bye.