WARNING: Today Will Catch Many Off Guard! [My Bitcoin Plan]
By Crypto Banter
Summary
Topics Covered
- Yields May Force the Fed to Hike After All
- KOSPI's Record Sell-Off May Mark a Cycle Top
- Bitcoin's Classic Bull Trap: Hold, Then Dump
- The $70K-$74K Zone Stands As Bitcoin's Trap
- Bitcoin's Shrinking Volume Is A Warning Sign
Full Transcript
Yesterday, we're looking at two key pivot points for Bitcoin. One of which was around the anchored VWAP, which is on the bottom side, looking from the local low to the current price action.
And we spoke about watching for confirmation or acceptance either above or below that level. In today's video, we'll showcase how you've reclaimed that and it confluence with the Monday range.
For those of you in Room, you know exactly what we're talking about because we did discuss this yesterday during our live session for the potential long trade setup. Right. So, there is going
trade setup. Right. So, there is going to be another opportunity. If you missed that particular one, there's one more opportunity today, and it lines up with the higher time frame trade that we've been looking at. Stay tuned until the very end, and I'll show you exactly
exactly what I mean. Make sure you smash a like button. While you do smash a like button, come through and vote on the poll. What are your thoughts on today's
poll. What are your thoughts on today's interest rate decision? Is it going to be a nothing burger? Um, is there going to be an inflation shock, meaning they're going to have an interest rate hike, or is it going to be a surprise
cut vote over there? Um, I must say I believe it's probably going to be a nothing burger, which is where the majority of you have voted at 66%, I think the interest rates will remain exactly the same. However, there are a lot of big banks that have come out and
said otherwise. And um, you know,
said otherwise. And um, you know, sometimes these guys are right. They
they say that people are taking it um, you know, too easy when it comes to their thoughts on the interest rate decisions and they should be taking a lot more seriously. So, we'll look at that. We'll look at which players are
that. We'll look at which players are suggesting that and what it means for the market. Of course, in terms of the
the market. Of course, in terms of the key levels that you're going to be looking at, there's a lot going on, right? If you look at the banter bubbles
right? If you look at the banter bubbles over here, couple of coins are green.
Crypto and Bitcoin definitely bucking the trend to an extent because when you go into the trady markets over here, well, it's a different story. A lot of these things are getting absolutely smacked. You're talking about one week
smacked. You're talking about one week on these big stocks. 31% down, Tesla down 20%, GLW 22%, Marvel 16%, MU 15%
for the week alone. And of course, um, you know, this is usually what the crypto market looks like. So, pretty
significant when you consider that. And
if you go into the monthlies, it gets even worse, right? 50% down, 45% down, 37, 35. Pretty brutal. There's a massive
37, 35. Pretty brutal. There's a massive sell-off. We had spoken a lot about the
sell-off. We had spoken a lot about the significance of Bitcoin holding above $60,000 which would showcase some level of strength. But what we have seen
of strength. But what we have seen historically is that sometimes Bitcoin holds on till the last moment and then it just catches up to what the stock market is doing if it is a downside move. So you want to be wary of that.
move. So you want to be wary of that.
And again today we'll talk about the levels the most important zones that you need to be looking at uh because these markets are getting smashed right chips and memory stocks are getting annihilated. And we'll look at each of
annihilated. And we'll look at each of these individually as well. Maybe not
all of them, but some of them because there's a lot of things going on in these markets. A lot of opportunity over
these markets. A lot of opportunity over here as well. And then on top of that, the South Korean markets are getting absolutely annihilated as well. Um I
think they're about to close if you are Asia based. So that's that being the
Asia based. So that's that being the Cosby and things like that getting smashed towards the downside going through all levels that matter. Uh of
course not a good thing, right? And then
we've been looking at the DXY which has had a very small pullback coming into the breakout level over here. Um
ultimately if this continues to just maintain above these uh prior candles from last week, so Thursday, Friday and Monday, if you maintain above those candles over there without any closes
below, the expectation would be that the DXY being the dollar index will just continue to apply pressure into this zone over here at 101.64.
Um and then ultimately that's going to lift off and start to expand higher. So
that being said, well, I think it's also important to consider the 10ear yield and the 30-year yield, especially coming into the Fed interest rate decision over here because this is still very much in an uptrend and in my opinion, this looks
like it wants to go much higher on both the 10ear and the 30-year yield and that's alongside the DXY. So although
it's probably going to be a nothing burger today and the interest rates will most likely remain the same, what you'll probably see is uh them maintaining it.
And once they do maintain it, I think what will likely happen is over the course of like August, September, maybe into October, you'll start to see the 10 year and 30-year yield breaking out above these key zones. And that's when
they're going to be forced to actually instead of cutting or pausing, they're going to have to actually raise the interest rates. And that's probably
interest rates. And that's probably going to bring a little bit more fear into the markets which will line up perfectly with our seasonality in terms of Bitcoin seasonality looking at the four-year cycle uh theory that plays out
where it's ultimately three years up one year down with the low typically coming in the um third or fourth quarter and then also with the seasonality of the US stock market such as the NASDAQ and the
S&P 500 which tends to have that seasonal weak environment in August, September, October, one of those months, right? um and especially when it lines
right? um and especially when it lines up with the the Bitcoin bare market year, it it proves to be very very very fruitful. So we will watch that over
fruitful. So we will watch that over there. And again, this is Ned Davis
there. And again, this is Ned Davis research. They're cautioning against
research. They're cautioning against market participants underpricing the odds of an unexpected rate uh increase.
So basically they're saying there's a real possibility that you'll see that um and therefore expect volatility because these are big players, right? And of
course they do have a say when it comes to these markets. So you got you got the Hawks and you got the Dubs over here.
And if you look at the Hawks, one, two, three, four, five, six, seven versus the doves, which means obviously they think that it's going to be um not so bad. 1 2
3 4 5 and six. Let's just double check here. 1 2 3 4 5. So it's five versus
here. 1 2 3 4 5. So it's five versus seven. So you actually have more hawks
seven. So you actually have more hawks expecting that there's a chance of an interest rate hike, right? So it's going to be interesting. I found that the probabilities that you'll find over on
Forex Factory um and the CME group are the most effective, right? So, we'll
look at that in a moment. But just to highlight, this is only going to be later on today. Um, if you're based in the US, it's probably going to be somewhere around the midday for you. For
myself, you can see 10 10:30. So, we're
only going to be able to address this in tomorrow morning's uh uh video because the the interest rate decision is going to be late for me. I am UAE based, right? So, we've seen the probabilities
right? So, we've seen the probabilities bouncing back and forth and back and forth, right? Yesterday, this was a
forth, right? Yesterday, this was a little bit higher. I think it went to like 38% or something like that. Now,
it's dropped back down to only 29.4%. Of
course, this is most likely what's going to happen, right? The 70.6% that have voted over here, the current rate will remain exactly the same. I think that is the most likely outcome. And most of you have voted that as well. Look at how
similar the odds are over here to what the odds are over there. Right? You got
70.6% over here on this poll over here that we have for you guys. And nothing
burger means the interest rate remains the same. That's 66% of you voting over
the same. That's 66% of you voting over there. So, it's going to be interesting.
there. So, it's going to be interesting.
I think at the end of the day, you just want to watch the very key levels. If
price rallies into this for Bitcoin and comes into some of the areas of interest, which I'm going to showcase where those resistance zones are, um, I'll give you a hint. It's going to be round about where that Monday high is.
If you come into that zone and you're starting to find resistance and begin to reject over there as the interest rate decision comes into play, that's probably going to be a warning sign that there could be a bit of a trap that's
going to unfold over there. So, we'll
keep an eye on that. Um, a quick mention, a lot of you are already in Whailing you with everything. This is
the pivot levels that I've been talking about. So, you've recaptured that. We'll
about. So, you've recaptured that. We'll
get into that in a moment. A lot of you have taken advantage of the Bitfunded promotional special that was running.
Um, I if I believe correctly, there's literally something like two or three left this morning out of the 100. So, it
would be first come, first serve. But,
Bitfunded have gone and extended an additional special. This has not got
additional special. This has not got nothing to do with whale whale room. You
won't be getting two months free with this offer, but they're doing an FOMC um 50% off discount for 500 people. So,
first come, first serve, whoever wants it. That means any account that you want
it. That means any account that you want over here is half price, right? Anything
that you want, which means if you want an entrylevel um challenge over here, you could be getting that for as low as $39, right? $39 and you can get yourself
$39, right? $39 and you can get yourself a Bitfunded challenge. Of course, if you're purchasing the expert one, instead of paying $800, you're paying $3.99. So, for anyone that wants that,
$3.99. So, for anyone that wants that, this is only valid for 24 hours or the first 500, whichever one comes first. Uh
those are for those of you that want the FOMC 50% off and who are trading challenges. And I'll give you a trade
challenges. And I'll give you a trade setup for today as well, which you can trade over there. Remember, they got a whole bunch of stocks, commodities, um and metals that are also listed over there for any of you that do want to
trade those. But the trade that I have
trade those. But the trade that I have for you today is going to be in crypto, right? I think it's a very valid setup.
right? I think it's a very valid setup.
Wait till the end and I'll give that one to you. Right. So, Cosby, let's get into
to you. Right. So, Cosby, let's get into the Cosby dumping. Dumping very, very, very hot, right? We must get into that.
Let's just quickly move this chart up so we have everything for the TA. So, South
Korea's equities now putting in its steepest two-day sell off ever on record. This is brutal. Samsung and SKH
record. This is brutal. Samsung and SKH Highix, which are the two highest waitings when it comes to uh formulating the Cosby index over there. They hold
the biggest waiting. They've dumped
through all the technical levels that matter. We're looking at the daily time
matter. We're looking at the daily time frame with the 200 EMA and some strong horizontal support as a potential to catch price straight through, right? It
went straight through this morning.
We'll look at that in a bit. What this
means is, as I've tweeted over here, I'll post it on X is the chances now of a very long-term topping being in uh you know local top major top not a local top
but a major major top uh cycle top even on the Asian markets has increased significantly based on the magnitude of the sell off right so you want to be aware of that and it's taking the NASDAQ
down with it right the NASDAQ down 8% it's basically the worst um NASDAQ read that we've had for the month of July in 24 years Right, there are three days left. Let's see if they can save it.
left. Let's see if they can save it.
We'll look at that. We played out the diamond pattern reversal which we identified quite a long time ago. Um and
ultimately those prices coming down. So
we'll look at each of those individually. Let's start off with the
individually. Let's start off with the um the worst of the lot which is going to be of course the Cosby getting absolutely annihilated over here. So I
want to remind you we spoke about this right? We spoke about the attempted
right? We spoke about the attempted bounce out of the golden pocket and if you can't get back above with acceptance above that 50% level at 6995 ultimately you're going to take out the
liquidity and we spoke about these two candles being right next to each other and when you typically see that it becomes liquidity right for the taking and we highlighted that. Do you guys remember that? So ultimately that's
remember that? So ultimately that's exactly what happened right failure to get back above that key 50% level with high time frame closes meant a lower high and straight down there it is this
is your Cosby right now looking at it on the daily time frame you've run straight through this is still theoretically strong horizontal support so at some point you're probably going to get a reaction but again as per my tweet over
here it begins to shift the probabilities that now um a major major major top is in which means it's probably not going to new highs anytime soon. It means that what will likely
soon. It means that what will likely happen is when you get a bounce, that bounce, even though it's probably going to come close to these highs, will be met with a complacency bounce, right?
The market will become more euphoric, but the price won't reach as high as it previously would have, setting in a lower high. Pull up the Wall Street
lower high. Pull up the Wall Street cheat sheet um psychology sheet that showcases the the different psychological levels. And this will be,
psychological levels. And this will be, in my opinion, complacency coming into the 8,000 to 8,500 region. And we can probably mark it out to get a bit more precise on those levels. Um anyway, by
just using a fib tool, right? Because
let's just say that this is a confirmed uh top to to bottom. Now, then we can start to anchor those fibs. And the
levels that I'd be looking at is going to be um you know, anywhere around in an extreme case, probably the 786 to 886 fib. But for now, let's just work with
fib. But for now, let's just work with the golden pocket. So, first and foremost, we'll throw in the golden pocket. that's going to be coming into
pocket. that's going to be coming into this zone over here and I'll box it out with a um a zone that you guys can focus on over there. So that's one area over there and then the next area that I'd
have a look at if it manages to run through that is going to be that uh 786 which is going to be over here. So I
would say in an extreme case maybe it will run up into that zone. The pink
boxes are going to be the resistance zones going forward. Right? So 7,800 up to a maximum of about 8,000. Hence I
said 8 to85 the bounce into there.
Expect that to be resistance. It is
still tradable right and we we can see that this is bringing as will the NASDAQ down with it. So we can quickly have a look at the NASDAQ. Here's your NASDAQ.
NASDAQ coming down tagging the 0.382.
Next major support's going to be coming in at 652. In terms of a low time frame trend, this is very much towards the downside. Lower lows and lower highs.
downside. Lower lows and lower highs.
And even on the daily time frame, you've officially shifted structure. Right?
This is your previous higher low. Price
moved up, set in lower highs, lower highs, lower highs, lower low. The
structure has shifted. So you could get bounces within these regions. Again, we
always look for the most amount of confluence. Strong horizontals over here
confluence. Strong horizontals over here based on prior resistance potentially flipping into support. Confluent with
that 50% level measured from the low to the very top and confluent with the 200 EMA. So, this becomes the next major
EMA. So, this becomes the next major area uh where you're going to be looking for the QQQ being the NASDAQ to possibly bounce and find a little bit of support.
And then we'll go into this one over here as well. Um, of course, this being the S&P 500, the S&P 500 futures over here. Also, low time frame trends are
here. Also, low time frame trends are towards the downside, lower, lows, and lower highs. And there's a lot of work
lower highs. And there's a lot of work to be done. Dow Jones is actually holding up as one of the strongest. I
still maintain 25% of my long exposure.
We took some of it over here. We look
for the SR flip. We got it. Um,
ultimately if this can start to consolidate above this box, call it 53,000, that will be really bullish for the Dow Jones. But again, you have to address it. The fact that Bitcoin is
address it. The fact that Bitcoin is still above $60,000 while all of this hap is happening is not bad, right? It's
absolutely not bad at all for Bitcoin.
Um, the real question that I'm wondering is, is it a trap, right? Is it going to be a bull trap? Whereby Bitcoin so famously often times does this as the rest of the markets go down? It holds
up. It holds up. It holds up. It holds
up and then it just starts to roll over and absolutely dump catching up to what the stock market is doing. And I don't have the answer for that. Nobody does.
Nobody knows what will happen. There's
no crystal balls. All that we can do is we can uh trade based on each of those levels. So let's let's go through
levels. So let's let's go through Bitcoin first and we'll always come back. We can circle back over here to
back. We can circle back over here to the trady stuff to maybe look at each if there is enough time to look at each of those things um independently in terms of um here we go this list over here
right the the the major chips and memory stocks over there I think there could be some huge opportunities over there even just for the deadcat bounces right so we'll get to that in a minute right let's go on to crypto bitcoin everything
over there so I can give you the trade because I don't want it to move too much um yet I want you guys to get in on that position before it does get going So having a look over here, we got the long
to short ratio pretty balanced. Uh the
sentiment basically the same place. Uh
the funding rates basically the same place. Big liquidations. Uh most of them
place. Big liquidations. Uh most of them are still longs believe it or not. Most
of the liquidations happen again backto back longs. Yesterday was like almost
back longs. Yesterday was like almost 600 million in longs liquidated. Today
325 million. But there could be the shorts that are going to get liquidated next with 105 million if prices do bounce to the levels that they potentially could which is going to be for Bitcoin the Monday high right daily
exchange volume is still dropping off absolutely nothing going on over there and let's move into it right so weekly you know it has the potential to run up into this zone over here this is the
high-risk trap zone between 70 and $74,000 if you break and consolidate above that the whole picture begins to shift at the end of the day it is a falling wedge it is coming into key support, but I know how Bitcoin
typically operates and there is usually always, you know, one more trap and that would that would be what this trap looks like towards the downside. So, we spoke about this chart yesterday. This is the
5day time frame. It's got 16 hours and 43 minutes um left to go before this closes. And what we said is as long as
closes. And what we said is as long as it holds up above 62,452, your orange line, there is a chance, right, um for bulls to salvage this
thing. But if it loses that, I have to
thing. But if it loses that, I have to remind you your uh moving averages over here, the high time frame and the medium and low time frame are bearishly postured. And if you close below there,
postured. And if you close below there, that's going to be bad because this will confirm that a major high iss lows and lower highs. That confirms this as a lower high, right? This zone over
here, potential for a lower high. We'll
put a question mark. Closing below here absolutely confirms it. and we got a couple of hours left um for the rest of today with some high impact things coming up to do that. Right. So, uh
moving on now, one of the things I spoke about, these are the levels. They
haven't changed. They're exactly the same. 63,500. If Bitcoin could hold
same. 63,500. If Bitcoin could hold that, there's opportunity for bulls to run it back to the top over here, which is going to be your your um anchored VWAP on the high time frame, and that
goes up to 66850, which is round about where your Monday high is, as I'll show you in a minute.
Right? So we explained this at length if you went on to my ex account or you watch any of the videos this week. There
you go. We had spoken about it. These
are the anchored VWAPs and we'll showcase on the real chart. Right. So
here it is. Price went down. I told you yesterday wait for the daily close. is
vitally important to get the acceptance below to confirm that that's the next directional bias which at that point would have absolutely confirmed this as a lower high and a local top in the market and therefore you'd have to look
for deeper price action towards the downside. However, that didn't happen.
downside. However, that didn't happen.
As you can see over here, there was resilience by the bulls who fought back and managed to close it back above that anchored VWAP and I even marked it off in orange for you because of the significance of it. So, the fact that
you've reclaimed that and now you're back above the volume point of control opens up the possibility that there's going to be a higher low that takes place over here. And this still has the
chance to basically move first towards this as a major target 668, your anchored VWAP on the top side. And if
you break and hold above that, well, then we start to open up some higher targets towards the $70,000 region, which I'll remind you is where the major bull trap could come into play. So
therefore, in the short term, the long trade is still valid. The Monday range trade is in play. Those of you in well room will know it because we discussed it at length yesterday. But playing it off here into here for short-term long trade and then looking for a big trap
scenario over there is basically the plan of action, right? Um and then on top of that you got your bull moon which is officially printed today. prices
above the RSI pivot level. And again,
just reiterating the confluence of that uh possible future bull trap zone coming in the 70 to 74k zone with the 200 EMA and MA currently downtrending as resistance to govern those lower highs.
Right? And again, I covered it yesterday for those of you that think it's hindsight trading and you didn't watch the show live. I posted this yesterday at 8:25 p.m. when this had just been recaptured over there. And I told the
whale remembers that you can basically line this up with a Monday range trade over here looking for the long. And for
those who did that, well, this is what the trade looks like now, right? Price
has already moved significantly since the entry. You're already almost halfway
the entry. You're already almost halfway through. Now, you do need to be cautious
through. Now, you do need to be cautious over here, which was my next message to whail room because there is an hourly inverse fair value gap, which price is coming into right now. So this is going to the next couple of hours is going to
be important to see if price can maintain above this or rally through this level. But if you took the trade
this level. But if you took the trade ultimately looking at about mid-range to start taking some partial profits and reduce part of your risk over there and the target level becomes the top of the
Monday high and you may rally through that level um into the anchored VWAP, right? So if you see something like this
right? So if you see something like this into the anchored VWAP over here which will line up with this chart. There you
go. We we'll put this next to it. So
there you can see the anchored VWAP measuring of the overall total range that is coming in at about 66,800 which is just situated slightly above
that Monday high. So that becomes the trade and then if you fail this you can effectively just flip short and run it back in the other direction because as per the tweet you are effectively
compressed between those two levels and it's low time frame rangebound trading until such time as you uh significantly clear one of those levels either breaking above the anchored VWAP on the
top side or breaking below the anchored VWAP on the bottom side expect that it's rangebound and good luck right good luck friends as I've posted over there so what is the trade, right? Because this
has obviously moved a little bit. So,
you're probably wondering, well, what's next? Again, for those of you in Well,
next? Again, for those of you in Well, you'll know it. I did post it over here.
Um, and it's Salana and it lines up like this, right? the you're using the Monday
this, right? the you're using the Monday range trade as I mentioned to them over here in Wroom. Um be careful of that inverse fair value gap but effectively using the Monday range trade also on
Salana as the trigger plan for the long on the larger Salana trade which remember we look for both the long and the short trade to be equally hedged. So
I think this is probably the trade of the week not the day but of the week.
This is the best trade because it means that if price does start to break through the top side, the short trade, which we had previously mentioned, there it is. Um, let's just quickly throw that
it is. Um, let's just quickly throw that on. There's the short trade. I'll
on. There's the short trade. I'll
quickly move it up so that they they're not um too close together. The short
trade would stop out, but the long trade will immediately be in profit. And you
have the ability to take a really solid trade and let the market do the talking in terms of which way directionally it wants to go. We've spoken about the significance of the $75 level being held
over here on Salana. And I just want to highlight if Salana can start to trade with any candles, call it $80. If you
can get back above $80 with the daily candle close, effectively this is going to start to look like a high low confirming that as support and then you have the possibility of moving up to 105. If that were to happen, of course,
105. If that were to happen, of course, the expectation is that um you probably on Bitcoin are gaining acceptance above this 67 68K level and we're starting to open up higher targets that's going to
take price into these real bull trap um zones over there. So just be aware of that. So let's quickly highlight that uh
that. So let's quickly highlight that uh alongside now Salana on that Monday range. This is it, right? This becomes
range. This is it, right? This becomes
the trade. You have the opportunity to basically take a good risk-to-reward uh trade over here. any little throwback into the uh the Monday high over here, the bobbing and weaving around or excuse
me, the Monday low which is going to give you exactly at $73.74 I think is a decent opportunity. You've
got over here as well your um uh momentum oscillator green dot confirmed on this hourly low over here and attempting to start to climb towards the upside. So in terms of a risk-to-reward
upside. So in terms of a risk-to-reward trade as risk-to-reward trades go it's a 3.45 to one. However, if I took this trade um or I I should say if you take
this trade, right, I wouldn't close it out over here. If you get back above the Monday high, I would rather leave it as a potential free hit which could run much higher like this all the way to the
top side. That's the way that I would
top side. That's the way that I would treat that trade, right? So, uh have a look at that if you do want to take advantage of that. That's that's
effectively the setup. You have
something almost perfect over here lined up where we very rarely have these on a live show. It's only risking um call it
live show. It's only risking um call it 1.5% if you want to go below those lows of there for a bit more room. 2% 1.5 to
2% draw down. Um and any closing candles on the hourly below the 7268 you can start to have a soft stop there.
Closing candles just close the trade as opposed to a hard stop down here at 7217. So let me know in the comments
7217. So let me know in the comments what your thought thoughts are about that. Is this a trade that um you'll be
that. Is this a trade that um you'll be looking out for or not? Right? I don't
know what your guys risk appetite is at the moment. If you do want to trade
the moment. If you do want to trade that, I'll do I want to remind you those of you in Europe, you're still struggling with your MKA compliance. Um,
you can trade on Blofen, right? Blofen
has Salana right over there. No KYC
required, no VPN required. Uh, the link is in the description below over here for Blofin. You're getting a $1,000
for Blofin. You're getting a $1,000 futures bonus. All right, so that's the
futures bonus. All right, so that's the trade I'm looking at. Still keeping an eye on USDT dominance on on all the time frames that matter, the daily and the weekly rangebound over here, right?
rangebound with the potential to put in highs. This is why I want to be equally
highs. This is why I want to be equally hedged because when the market is very divided, which it is right now, it's hard, right? It's tough to trade. You
hard, right? It's tough to trade. You
don't have much of an edge, right? It's
very split between bulls and bears.
50/50. We spoke about that yesterday, how you can start to use the high time frames, not for the short term, but the high time frames for the larger picture to get your directional bias in these
50/50 environments. For the low time
50/50 environments. For the low time frame, we're talking about a little small bounce, right? This becomes the trade opportunity over there and we'll see. This only gets super bearish if it
see. This only gets super bearish if it breaks below 7.569%.
On USDT dominance. All righty. Let's
have a look over here at the uh liquidations.
Okay. So on the upside we have a bit more much more than on the downside. The
downside has mostly been taken uh as we swept the Monday low in Bitcoin yesterday. Now on the upside you got
yesterday. Now on the upside you got about like 65 million. It's not that much. It needs to build up a bit more.
much. It needs to build up a bit more.
Um but probably something to watch uh as this develops over the week. And let's
see the 24-hour period. Uh also mostly on the upside. 15 million. It's also
it's not much, right? So the liquidity is is pretty low over there in terms of um uh traders who could potentially be stopped out. Okay. Uh what else do we
stopped out. Okay. Uh what else do we have? Zcash. So the legacy orchard
have? Zcash. So the legacy orchard shielded pool is now closed to New York City. Users must now migrate their funds
City. Users must now migrate their funds to new Ironwood pools. Um, remember we spoke about this upgrade on Zcash and that's why the turnstyle for ongoing supply integrity and basically long
story short what this means is as they move the funds over um onto the Ironwood pool will will soon find out uh if the protocol was compromised because they
remember they use that um AI to identify the bug. I think it was like Claude or
the bug. I think it was like Claude or something like that identified the bug and that's basically why they've done this upgrade and now everyone has to move over to the new pool and then you'll see how many tokens are left
versus how many are in the pool and then you're going to figure out um if this thing was compromised or not. So going
on to Zcash and what the chart actually looks like. Let's do that. Um there it
looks like. Let's do that. Um there it is. Probably going to bounce over here.
is. Probably going to bounce over here.
Uh this looks like it's starting to form a major a major low. Probably going to bounce. But if it fails over here, of
bounce. But if it fails over here, of course, not good. then it's just going to be lower highs. So really the point of control is going to be around that 530. If you can get back above and hold
530. If you can get back above and hold that good. If you can't bad, right? Then
that good. If you can't bad, right? Then
you're going down.
All righty. What else? What else have we got over here? Let's just quickly see if there let's see how's ETH doing. All
right. So ETH still rejected off of this zone. It's going to trade very similar
zone. It's going to trade very similar to Bitcoin. If Bitcoin is going to make
to Bitcoin. If Bitcoin is going to make the move up, ETH might take a higher leg up to about 2,120ish roundabout into that zone.
Okay, what about the perp dexes? Um,
hype starting to look like it's getting into that potential bounce zone, but it really needs to take out about $60.50 to begin to flip things. Otherwise, I'm
going to be looking lower still towards 50. Lighter nice bounce over there.
50. Lighter nice bounce over there.
Really decent bounce. I think watch this low as a potential major low off of the cup and handle formation. This could be the low of the handle.
Okay, it's going to completely depend on what Bitcoin does in terms of risk on versus risk off. So for now based look I haven't I haven't sat with a fine comb
running through every single altcoin not for at least about two weeks. Uh but
based on the majors I I still think that Solano looks like the best cleanest opportunity because you have this compression and it's telling us that we should have a resolution to the
compression of this triangle very soon.
Um literally within the next 10 days we'll have an answer of whether this is breaking out or breaking down. And
therefore that's why we mentioned both trades opportunities and it's all happening at a very key level over here.
But the volume is is still low, right?
We have to be aware of that. That's
another thing to um I guess be super cautious of, right? This drop off in volume. So throughout Bitcoin's entire
volume. So throughout Bitcoin's entire move up, the volume just gets lower and lower. That's part of your warning
lower. That's part of your warning signs. It's not to say that price can't
signs. It's not to say that price can't go high. It can. um the volume would
go high. It can. um the volume would just have to remain low for a very very very long period of time and price would have to range above 60k also for a very long period of time to show that it's reaccumulation. It's still a little bit
reaccumulation. It's still a little bit early like probably need about another um two to three months within this range without breaking down even if the volume is compressing and then you can say that
okay this is this is reaccumulation happening now.
All righty. Um what else? What else
guys? Let's just quickly check out over here. uh CVD. I don't have a CVD chart
here. uh CVD. I don't have a CVD chart open on my laptop right now. I'm gonna
it's going to take too long. I have to log in on on everything. So, I know there's a question from uh no form 88, but you in Whail just go and ask uh one of the traders in whail room. Just tag
them over there. Go to tag the team. I'm
sure Waz will help you out there and we can see what's going on with that.
All righty.
Okay.
All righty, guys. Let me have a look over here. Okay, we very rarely I I
over here. Okay, we very rarely I I never really notice these super chats, but there there is a super chat occasionally. 60 ETH um average entry at
occasionally. 60 ETH um average entry at 1850. I think it'll be 25 by December.
1850. I think it'll be 25 by December.
1850 is tight. Let's quickly see over there on ETH. 1850 is very very very tight. I think there's extremely high
tight. I think there's extremely high chance you'll come back to your entry. I
mean, that's right over there. So, that
that's not a very high risk to reward or or at least a very far trade, right?
you're saying you're looking at like uh where is that 1850 and you're looking for um 25 over here. So it's like you know where you going to stop. This isn't
a great risk to reward unless you're keeping it extremely extremely tight right which basically just track those high lows. This also becomes liquidity
high lows. This also becomes liquidity right for the taking right these high lows high lows high lows eventually you're going to come back down like I think that the safer entry is let the price move. So you let the price move
price move. So you let the price move and then and then the next major pullback whether it comes from here maybe it goes all the way up here to like 23 the next major pullback will be
a much more confident trade where you anchor your fib from the low to the high and the next move into the 50% level the golden pocket that's confluent maybe with some horizontals gives you a much
cleaner safer entry. Okay, so that's my thoughts on on ETH for now. All righty.
So, for those of you guys that are um you've purchased your your Bitfunded accounts, by the way, I want to remind you just once again, go through to this button. Click that button over here on
button. Click that button over here on the Whale Trade site. So,
ww.waltrades.io.
Go and click that button. Watch the
tutorial if if you have no clue how to trade these bitfunded accounts, right?
Remember, there's rules that come with these things because they want to make sure that you're trading safely with the equity that they're going to give you.
So, you have to adhere to the rules. Uh
especially if you pass the challenge.
Like the worst thing is you pass the challenge, you get access to like 150k in funding and you think you're doing everything right, but you don't. You
miss one rule and you get taken out of the trade, right? So be aware of that.
The easiest way is to just go follow this, right? Go and click that video,
this, right? Go and click that video, watch that. Um, and then ultimately by
watch that. Um, and then ultimately by doing that, uh, most of you are already going to be in whail room over here. We
have subsections over here for Bitfunded where effectively we will help you to to trade these, right? So again, final reminder for those of you, this is only today. Last time we're going to speak
today. Last time we're going to speak about Bitfunded for this week. 50% off.
Uh take it or leave it. I think it's a good a good deal because it doesn't expire. You can keep those challenges as
expire. You can keep those challenges as long as you want. They're always active.
They don't have an expiry date. All
right, guys. I'll see all of you on the next one. I hope all of you have an
next one. I hope all of you have an absolutely beautiful day wherever you are in the world. Let's see what happens with this trade. Um, if you pump into FOMC and you're coming into those key levels, then you definitely want to be
taking profits because what we often see is a is if we're dumping into FOMC, then after FOMC, you pump. If you're pumping into FOMC, then after the FOMC, you start to retrace the entirety of the move. So, that's the plan. That's what
move. So, that's the plan. That's what
I'll be looking at. I'll see you on the next one. Have a good day. Cheers for
next one. Have a good day. Cheers for
now guys.
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