LATEST China FUD Completely WIPED OUT by Bullish Bitcoin & Crypto Markets!
As i record, this is 51 and a half thousand us dollars taking out the previous high and also getting above some of my previous resistance levels. Well follow up with the old rocktober october quarter. Four is looking to be quite bullish, but of course we need to get through october. Doesnt mean the next 13 weeks are going to be straight up. There is going to be some hurdles along the way and that comes in the form of cryptos which are supposedly strong, theyre being pumped up out there, but they are looking kind of weak on their bitcoin dominance. So well follow that, as we have done all year on the markets and, of course, look at the market caps and some of the traditional markets to give us an idea of whats coming next, so make sure youve hit the like button already subscribe to the channel. If you havent does go a long way to helping out the youtube algorithm lets crack on first up patreon members – i mentioned this last month, if you guys havent already, and you want to learn more about cryptocurrency trading and investing patreon is open again for this month. Link is in the top of the description down below 96 left last month, theyre going at around five to ten per day. So if you are interested jump aboard and well see you over in patreon lets move on to bitcoin and peak fud. So the main thing im looking at here – this is what i track every day.
I understand the dates i want to know the dates and i want to know what the market sentiment was and how i use that into my trading and long term. Investing 25th 24th that time in the market was super peak fud we had the 20th and the 21st the drop this was when china announced they were going to ban crypto currency transactions, making it illegal doesnt that seem like a lifetime ago. Its only about 15 16 days ago – and we are well and truly past that point cleared out all of this – this fear and the fun from that point in time and the price is well above here thats. The first thing i look at and 47.5 000 was my first target to give me an idea of the change in market sentiment. Reason being is, that was the top of the day that we had the change in behavior, so wyck off analysis. That was also posted on the channel, so you can check that out peak fudd coming in here at the 24th, a lot of lows being held up, especially during the period of extreme fear, well go to google to give us an idea of dates. China fight is here 24th of september, basically, im just typing this into google. Give me an idea of what was going on back then, and just seeing how much uh how much it was pushed as a narrative across the crypto space and what result it actually had.
So this is how i would look at the news. 26. 24. 24. Some of the big players here, crypto potato business, insider coin telegraph we had bloomberg. We had routers decrypt everything here, im sure i said routers routers wrong, doesnt matter. The point is, we want to get the dates, and that is the peak fud date right. There weve blown past that it seems like a lifetime ago, and here we are 51 and a half thousand dollars we broke through our previous high, were all weve almost covered. The entire leveraged longs liquidation bar, which is the 7th of september as well, and were only about 2 and a half percent away from the top, which was nearly 53 000, so there it is 2.5 from that level. What is this telling me now? Well, it seems like the market has turned to the bullish side. Obviously the first time was the break. Then i had my 47 and a half thousand. Then we had the 49 50 as a psychological, and now this is our little last level here. Does this mean? Were going straight up, of course, not up down sideways thats, what everyone always says, but we are in the stronger side of the market now, and our last line of defense is 53 000. For now, until we come up against our next levels, which were around that 59 60 000 level, and of course the previous old all time high, which was 64.
5 lets, call it 65 as a round number for the market to overcome. Now i often make the point that the market doesnt need to go straight up and i dont know whats going to happen in the short term im just taking the signals that ive been given looking at the brakes looking at the extreme fud and how the market Flipped on that extreme flood, the next breaks that ive already mentioned on the channel, so i dont know exactly whats going to happen next, but im just using what im seeing and from my experience in the market im also looking at the market cap the dominance, the Dominance is pushing up, but were coming up against some resistance at around 44. That was the level that we were watching on the way down to holder support it broke down, bitcoin kept going and the alts got a little bit of a pump on so now were seeing bitcoin come back and things are looking to me like they are flipping. You know were getting a lot of different alts moving at different times, which is fantastic for trading and the longevity of the market, so we have more things to look at rather than everything goes up at once, and everything goes down at once. The other thing i watch is nasdaq and s p, 500, and this is important because, unless youre really keeping a track of what the overall market is doing, i think youre missing out on a lot of information.
Everyone is trying to say that the market is going to crash s, p, 500 and the traditional markets, but it looks like were getting some balanced moves on the way down 100 of this previous move, thats a really good sign. All i see on some of the other news outlets is, the market should be falling and the whole entire market is over. I dont see that, and i think that just brings a bit more strength early on in the piece to some of our riskier assets like bitcoin and cryptocurrencies. Total market cap has also peaked its head above the previous swing top thats, a good sign. We wanted to get some closes above there and at the next level, is 2.5 trillion dollars on the market. Cap now lets have a look at some of the altcoins and how they are faring and, of course, if you are looking to trade, all coins check out coinley. There is a link to this in the description down below it connects to over 350 exchanges, and this is something that helps you with tracking all of your trades for your taxes at end of financial year. So, link to this is down below a lot of guys have been asking about that. How do you keep track of everything? Coinly is one of those options check it out pretty inexpensive lets, look at eutherium against bitcoin, and this is also struggling on the way down. Some of the support levels are looking to be taken out, so ive just got my alerts ready to go against their usd value.
Things seem strong, but i also want to take note of the bitcoin value so eth, not the strongest but its been holding up pretty. Well, during this whole period, so i like thats, why its something that i hold long term solana, on the other hand, had a little peek out and is now falling back to some of the support levels. So, of course, if these levels are taken out around that point, zero, zero, two, nine or two eight, then i would expect a lot further downside for solana. Btc the usd value might hold up. That goes for all of these other cryptos that im looking at, but in terms of something that i want to buy now id probably still be waiting on solano. If you did follow the channel, you know i was selling this at around 160 just to cover my initial investment so that i can just trade this one risk free thats. What i want to do when it comes to my crypto portfolio. The next on the list is ftt. This is another one that were looking at throughout july and august. It pumped pretty hard and its now retreated. This is what happens with the cryptos. I dont marry them its just part of the game they pump and they come back just to relive some of the old prices to gain some support. What i want to see is higher lows forming thats a wonky line, but you get the idea.
Theres a low, a higher low, a higher low, should come in anywhere. Above this point, zero zero one would be lovely and give us some sign of strength, and then i would look to probably re enter again for the next move. Moving on to sushi and sushi has re has lost all of its gains from the initial china. Flood. Keep that in mind remember: we looked at dates, so we pumped up on the 26th. China was banning everything. They were closing down their chinese exchanges and so people naturally thought well everyones going to shift over to dexes and maybe they will, but in the short term the news got the pump and then the dump, so everything that it had gained it is now lost and That also goes for uni. It also had the pump on that day, but its held up stronger than sushi. You can see the lows that came in and we can see we have higher lows, whereas for sushi its all the way back down, so thats a weaker cryptocurrency and if it starts to break down through these major lows through this level which, where it has found, Support before then, this is unfortunately probably going to see lower prices. Now i was looking for something strong and weve got btc im, looking at all the btc values, 24 hours. Everything is in the red theres, a few that arent in the red, but im not that interested in a 0.
7 percent. I want to find something: thats, big, shiba, inu, okay, you guys are getting your pump and dump on shin, but i want to find something that is like a legit cool project, a lot of its red, a lot of its red three percent im not worried about Three percent: three percent: four percents. You get the point: okay, a lot of big losses as well icon, the main one i saw here and something that i have been given. I was given a lot of flack about not buying, and that is theta. We finally have a bit of a move on theta. The green circles are all the times when i remember on the channel talking about it and saying im not looking to buy it not looking to buy it. This looks more like a low that i would be interested in, and these are great lows. You know its all about the same price, but you just have to wait and you know thats what we do in crypto. We can wait, theres no problems as long as we get the the moves later on. So these were the big bounces. Nothing happened. We came all the way back down. This was the june low, nothing the july low. This is all the times that bitcoin had those big lows: nothing happened after that the august low all the way back down the recent september, china flood bounce, all the way back down and a little lower, and now were getting some nice stair stepping action out of These lows, this is going to be a little bit more more excited, even if we happen to go lower from this point.
It just looks like its getting ready to at least start to build some foundations. The beauty about this is its so close to these current lows, so if it did start to break down the risk is so small and you can easily get out of this if it happened to be something that was on your radar to be buying. So keep an eye on that set your alerts close to those areas. If you want to trade it and keep an eye on theta, to recap the market today, bitcoin is obviously looking strong weve seen that over the last week, or so if it starts to fall back into this previous zone of where it was churning, of course, thats. A weaker sign so just keep that in mind, always check the charts and for cryptocurrencies for all coins that youre looking to buy make sure you check the btc chart theres a lot of people pumping a lot of stuff out there, but always go back and check The btc charts just to be sure and have some stops in play. If you dont want to get stuck in positions which continue to fall, you can always join us on patreon ive just released my october altcoin portfolio so check it out. Link to patreon is in the description down below right at the top click on and well see you over in patreon or ill catch. You on twitter or instagram as well, for daily crypto updates otherwise see at the next video like share, subscribe and, of course, have more fun to get more done.