WTF IS BITCOIN DOING? HAS ANYTHING CHANGED!?
So i made a hell of a profit. I did enter another short today at 47.5, um and ill show you why and what im looking at im, not 100, confident in that trade, but im gon na show you the possibilities here so um i noticed somebody had said gon na, have to change your lines Again well lets look at my lines. Real, quick and lets see how much ive changed them. Have i changed these nope? Is it still looking good yep? Have i changed this nope, not at all guys weve so far, just made a lower high and uh lets. Take a look at another one, so this chart here no change in the lines and i believe there is going to be no change in lines and well talk about it in a little bit im going to go over a few things. First of all, i want to show you on the macro uh the log chart here. This is why i said im not 100 confident in my 47.5 short, i have my stops at 48.5 on very low leverage, not a huge trade and im going to show you why i did it and what im looking for. So if we do break that 48.5 range, we could be going as high as the 5100. If we get above this blue trend line and get support, open and close the daily above it then – and maybe only then will i get bullish.
Otherwise, nothing has changed. Uh still look at the big picture here and the trolls are going to have their heyday today. Let them have it because we will just end up going right back at them again anyways. So we broke this parabolic blue trend line. Where i said that was the last chance for the bulls, i still believe that, like i said, 51 right, around 50 100 would be retesting that trend line so lets. If that happens, i will most likely be laddering in some shorts starting from there. If i get stopped out of this short that im about to show you, so this was what we were looking at, this is now invalidated with the head and shoulders we were looking at. We broke back above the trend line. We had talked about that, and we had talked about this being at the highest point. Uh around that 50 000 would be the measured move from the breakout of this triangle, so that kind of coincides with it makes a little bit of sense. But as of right now, if you look at the four hour, we are making hidden bearish divergence where were making lower highs in the price action and higher highs in the rsi. That is hidden, bearish divergence. But again it is possible. We get to that. 50 100 range and ill show you why i put my stops where i did and what made me get in this trade. So lets take a look at whats going on here.
I put the fibonacci retracement from the swing high to the swing low weve, getting rejected at the golden pocket zone right here, which is the point six one, eight and point six five. We are not able to get above it yet. So i put my stops at actually im going to move them down to 48.4, but that would be breaking this 0.65 fib and if thats the case, then, if you look at the 0.786 that looks like 50 100 almost dead on. So if that was the case, like i said, i will be looking to short this 50 100. lets take a look at this. Um were gon na put on the retracement and see if we were to get up to that. Fifty thousand one hundred that would make this wave two that were in and then wave three down would be somewhere uh somewhere around this 20. That would be wave three around the 2800 and then, of course, we would get a wave four up, get everybody bullish again and then come down for wave five. But, as you guys know, my main count here, um is still looking at. This is abc if this is a abc that goes to the one to one extension. It would look something like this theres two forms that im still looking at again, guys um, of course, thatll change if we break 50 100, but until then still looking at it. This way, this target for a zigzag correction would be about sixteen five um.
If we well go back to this chart in a second, but if were doing the triangle like i said, i do believe its gon na look more something like this itll take a little bit longer. Um well probably be running back down to around the 28. 29. 000 now, if we break this high, even if we dont break that high, like i said, the 51 51 or 50 100 – is what im looking at for um the highest pop possibility here to remain bearish uh. But what i do think is were gon na end up making a triangle just like this and coming down to some pretty damn low lows. As you guys know, each time we top in the markets, it does the same thing each pump is a bull trap. Gets everyone bullish, just like everyone is today, um, happens over and over and over again lower high, lower high lower high lower high lower high lower high and lower high lower high lower high um. If you guys are interested in trading check out, prime xpt dont get crazy dont over leverage, guys and dont play with money. You cant afford to lose, but if you do decide to use it by far, the best exchange, in my opinion is prime xpt. You can use my promo code. Savvy50 thatll, get you 50 on top of whatever you deposit as a bonus. Savvy25 will get you 25 off your fees, so we did break this trendline on the four hour here.
As you can see, um can it go higher? It is possible, do i think its gon na, like i said, keep an eye on that 50. 100 area um. Let me see yeah. That would be right along the lines of this low here, also, but im going to remain in my short, like i just explained where im at this still looks to be playing out. Like i said, fractals dont have to be exact. They almost never are um just like. If you look at two different snowflakes theyre, not the exact same, they look the same from a distance but anyways. So here is from yesterdays video and i had said: if we broke that 44 100, then we were most likely going to continue up which we did and, as you can see, we are at a high volume, node right now around that 47. um. So if we look on the daily this rsi here, if we were to continue up and guys its funny, how like right now like everyones, really super bullish and usually those are the times that enter is short but people dont because of fear. So, if youre, playing with emotion, thats, why i say do not have emotion when youre playing in the markets have patience, look at the charts for what they are dont dont, let your emotions get involved. People switch from bullish to bearish to bullish to bearish daily. Sometimes, every couple days but theyre constantly switching just with little moves.
My view has not changed and will not change until, like i said when it changes ill, let you know, but so far i have no reason to change it um. Yes, this was my old count for the one two three four um. This count is still looking the same unless we break that uh 48.5 range. But, as you can see, i had this as a possible one too. What we may be seeing here is a one two right here and then we get our three down four up five down something like this. Still, what im looking at um, like i said, if my view changes ill, let you guys know, but the big picture has not changed at all and lets see what else. Oh, my wifes web page dont forget to check out inkyourimage.com tons of different stuff on here and, like i said you can put anything you want on any of this stuff. You just click on it and then itll have um an option to put your picture to upload your picture or whatever it is you want on it check it out. Links are down below all my affiliate. Links are down below, definitely check them out. So this is where were at guys were watching this right now keep an eye on this blue trend line and uh. The blx chart take a look at this. Obviously this is the uh bull market barrier indicator uh were getting a little bounce around, but obviously guys uh nothing well.
This is wrong. This has not updated. Yet. Why does the brave new coin not update, lets look at where we are now right at the 40 right here, just retesting, this trend line again um the barrier to break would be 54 000 on this uh, but you can see every time we enter a bear Market we never get back above that until the bear markets broken uh. You can see it back here same thing and all the way back here, i believe somewhere same thing uh once we hit it, we never went back above so unless thats broken were still in a bear market. Guys lets take a look at the dollar overlaid on the bitcoin chart, as you can see, dollars still bullish its going in a little correction right now, but ive been talking about it for a long time. Next time, dollar touches this top turn line would be the time to get back into bitcoin. As you can see, every time dollar bottoms is bottom trend line, bitcoin tops dollar bottoms, bitcoin tops, the dollar tops on the top trend line. Bitcoin bottoms dollar tops. This was march 2020 bitcoin bottoms, um patience guys. So this is where we were talking about uh the dollar getting back to for its bounce. So if we do get to that 50 100, its probably gon na align with the dollar getting on this bounce here and lets, take a look at where that might be well zoom out a bit too.
But we talked about this plenty um, no matter what happens here were gon na be making some hidden bullish divergence. We already are big time, so there is going to be another dollar bounce and lets take a look at the markets. Markets are trying to come back. A little bit today, nothing huge. We did make some hidden bullish divergence here, so we expected a bounce. We talked about that last night, but i dont think its gon na be long lived. Uh gold nothings changed in gold silver nothings changed in silver, litecoin nothings changed still below the emas here, ethereum uh ethereums the most bullish looking one, but if bitcoin goes down, you guys know as well as i do. Um ethereum will follow now. Lets take a look at something else on ethereum everybody that follows me knows: im not a fan of ms and ws. Oh yeah, guys dont, forget scroll down. Take a second out smash those likes, but everybody wants to talk about ws and ms, but they dont want to look at it when it doesnt go for their narrative. So, look at this looks like a giant m forming on ethereum think what you will and guys remember ill tell you never tell you when to short, never tell you when to long, never tell you when to buy, never tell you when to sell, but i will Tell you what im doing and why and thats why i make these videos um, xrp, obviously fake dump.
I dont think this is gon na hold. I think its in trouble and lets go back over to the charts. Where are we at were really stumbling around this? You can see this high volume note here lets put in a little closer, that is around 47 000, so thats, where were struggling right now, but again guys, like i said, lets, keep an eye out if it does break that 48 4 range uh look for the Target up, and up in here actually were going to draw that over there that 51 000. If that breaks uh like i said then well change our view a little bit, but i did make this chart public um. I put one in the discord. I think i did it on twitter, so you guys can keep an eye on that for yourself. The macro keep an eye on that. Definitely so anyways guys if youre trading learn how to use stops, um, dont and if you guys were following along you should have known. My average was right around 50 000. i laddered in shorts weeks ago and kept laddering in and actually my i think my average was really around 49 and or something like that. But, like i said, i got stopped out at five. Forty five thousand, as you guys know, my stops have been there for a long time and because of something like this, you get again. Nobody knows exactly where the markets going. I hope you guys cant hear that its a siren, um 12 oclock noon.
They put off sirens here, but anyways so thats. What it is guys lets keep an eye on this today see what happens and if youre, not confident in trading you shouldnt be trading um, especially if youre playing with your rent, money or money you cant afford to lose guys, thats, not how you trade. That will make your emotions stronger and you will get wrecked, but lets keep an eye on this uh golden pocket zone today see what happens here and i think thats about it. For the day.