Perfect Technical Analsysis Strategy For Crypto Trading (For Beginners)
The video youre about to see is a video. I shot a couple of days ago pointing out what i was expecting out of the crypto market, and this video is actually part of something new im considering launching mainstream, and that is called the crypto report. Where ill be doing this type of analysis, for whoever decides to sign up for the crypto report each and every week, i actually sent this video to a very small test group of some of our paying clients and the feedback from it has been amazing so far, But before i launch something like this, i want to ensure that theres enough demand for this before going through with the entire launch. So if you are interested in something like this or would be interested in something like the crypto report, where im going through the crypto market, telling you my analysis and telling you what im expecting to happen throughout the week, then go to www.ttcrypto.com thats on the screen. Also, a link is in the description just to let me know that theres enough demand for something like this before i go to launch it mainstream, but with that said, and either way, im going to go ahead and show you guys this video and break down the Way, i use technical analysis to find profitable trading opportunities in the crypto market. Music. Hey traders just wanted to talk you guys, through a little bit of the analysis. Im doing on the crypto market at the moment were going to go through about eight different cryptos and im gon na explain what im looking for and why.
I am looking for that, and here were gon na start out with bitcoin on bitcoin weve. Just seen a price move on the four hour chart, which is the main chart, i look at for trend and directional moves, so on the four hour chart weve just seen a massive move to the upside after weve seen some rising support levels coming from this level. Up up up so we have rising support levels. We eventually get a big, powerful move out of price. This powerful move was enough to break above significantly break above the 50 period, moving average. So with that being the case now, what im going to be waiting for at this point on bitcoin is to wait for a pullback into a previous area of structure, specifically the most recent area that was broken. So what im gon na do is drop down to a one hour chart, and this is where ill be waiting for that pullback. As you can see, if we do get a pullback to this area, it not only has been resistance in the past, but its also been an area that was tested as resistance and support multiple times. Looking left with all those factors coming together, im just waiting to see bitcoin pull back in to this area around 42 693, and that will be an area. I start to look for possible, buy trades using some type of buying pressure, entry reason so thats. My analysis on bitcoin and what im looking for right now ada is a pair that i do not really have any analysis on right now.
Im not seeing anything that looks super convincing and on the four hour chart were still well under that 50 period, moving average. So directionally were still in a downtrend here on ada, although i do like the fact that we are creating some higher support levels at this point. So we hopefully will get a bounce out of this, especially if we get a bounce out of bitcoin thats going to cause the entire market to go up. As we all know, bitcoin goes up. That normally means all the smaller coins are going to go up as well, but analysis wise. I dont see an immediate opportunity right now here on ada. What i will be waiting on is if this level right here gets broken, and we see some power coming into bitcoin, then ill. Look for a pull back into that level and hop on for possible, buy trades, so thats what ill be looking for here on 88. If again, we see some power come into bitcoin itself. Next up we have snx and yes from the last video i did. I actually ended up buying in right here and i long since have been stopped out of that position. I lost money on that, but now we have some new analysis here on ada and actually i mean excuse me here on snx and im actually really liking this. For a possible short trade, let me explain why, right now, we have very similar resistance levels.
Excuse me support levels right. We have support here. Support here support here. These are not rising levels like the levels we were looking at on bitcoin. These are actually very similar. So theyre actually the same level of support, thats being tested, but at the same time that we have those similar support levels were seeing decreasing, buying pressure every time we push up. So with that being the case, its showing me a lot of selling pressure because of the fact that buyers pushed up to here the first time and then they could only muster up enough strength to push up to here. And lastly, they only mush it up enough ushered up enough strength to push to here and now were pushing even lower, and we could possibly see this nice breakout of this descending triangle. Okay, so thats snx lets move on now. I dont think i had anything. Oh actually, yeah dogecoin is looking like a possible buy for me. I know that were not necessarily above the 50 period moving average, but we do have a slightly higher low and i know that seems like its irrelevant, but this higher low can give you a lot of hints. We have a low here. We had sellers and if we were going to keep going down, it would make more sense that sellers stepped in and kept pushing below the 0.19 0.19 level. So since that did not happen, and instead we had a higher low and have actually seen some buying pressure from there.
Thats kind of the bias for me wanting to go along here on this specific trade. And what im looking for is a pullback here on dogecoin to around this area somewhere around the 20 cent mark, and if i get a pullback to that 20 cent mark im, not just gon na buy for no reason. If i get a pull back to there, though, i can start looking for buying pressure, and if i get an entry reason, then i can continue with that analysis and actually place a trade to go along next up. We have ethereum classic lets. Take a look at this chart. Lets go out to our four hour chart here on the four hour on this chart were seeing a break above our top trend line of this descending triangle pattern. That looks a little bit like this, but thats not enough for me to start looking for buy trades. Yet we have a similar area of support here. Thats been tested. This is a series of consolidation and has declining resistance levels, which could continue to be the case. So if anything, i have a bearish bias here on this crypto, but im going to be waiting for this breakout and a pullback into this area of support. Before i start looking for trades here on ethereum classic m a t, i c or matic lets look at the four hour chart here we are on the four hour, as you can see, were starting to push up and get above the 50 period moving average.
Now its not like every time that happens, we take off and go crazy, but if you look at historic price, when we start getting above that 50 period moving average, we normally see at least a decent push to the upside. After getting above the 50 period moving average, so with that being the case, im already primed for a possible trade just by getting above the 50 period moving average. Now, what im going to do is go down to my lower time frame and i would like to wait on the pullback to this area of structure. Thats been tested multiple times right here, so thats the area im looking for price to pull back to. If we do get a pull back to that area, i will be looking for possible long trades here around 1 16 in that area on matic and another thing i really like about this trade is the fact that we just broke out to the upside of this Triangle pattern: so we have this triangle pattern and instead of breaking to the downside, you see that weve broken to the upside, with this being the case, most of the time that break to the upside means that we could see more momentum in that specific direction. In this case, more bullish momentum again ill be waiting for a pullback around 116 before looking for buying opportunities here. Next up, we have the second largest coin in ethereum. On the four hour chart, i like this trade for one, because the four hour chart is showing me buying pressure enough to get above the 50 period moving average two, we do not have falling resistance levels here.
These are the same resistance level and we do have rising support levels, and the psychology behind this is that buyers are stepping in sooner and sooner, to buy up. Ethereum and sellers are not able to stop it at least most recently until this level here. So, for me, im expecting price to get back up to this level. What i want to do next is figure out a way i can get involved. For me, the way im going to be getting involved is, if i see some type of pullback coming down into the 2950 area. That looks like a nice area for me to possibly enter some trades. If i get a good entry reason here on ethereum and ride this up, either to my target around 3 000 or all the way up to these previous resistance levels, depending on what price does so, there was the very first version of the crypto report. Again, i set that to a very small test group a couple of days ago. Some of the trades ended up working out really well one of one or two of them ended up losing and thats just how trading goes, but the ones that worked out well worked out really well this time, which is really cool to see again the feedback from That was awesome and if you are someone who would be interested in receiving a video like this once or a couple of times a week based on market conditions and what im seeing in the crypto market then be sure to go to www.
ttcrypto.com. I just now made the domain, so i dont really remember exactly what it is its on. The screen, though, and just put your name and email in and if i have enough people enough demand for something like this, then ill launch it within the next couple of weeks. If not thats, totally fine, too make sure youre subscribed, make sure you click the like button if you enjoyed it so far. What were going to do now, though, is take a look at the results of all of that analysis. So were going to start off doing so on bitcoin here on bitcoin, you can see that from the exact area we pointed out right here in gray, we ended up having a nice move to the upside and if you did not notice it throughout the rest of The video, what im waiting on on most cryptos is at least for reversal scenarios, is im waiting for the four hour chart to show me rising support levels as we go lower and lower, and in this case we had rising support levels, but the breakout didnt stick. Even though thats the case, we would have hit targets on a one hour time frame if we would have traded directly after this little breakout or if we would have traded this pullback into previous structure. This would have been enough movement. Let me delete it so its easier for you guys to see this would have been enough movement on a one hour chart to hit our targets so were not necessarily trying to capture this huge move like weve.
Seen recently on these crypto currencies were just trying to ensure that we can hit our initial targets before we move our stop to break, even so on bitcoin. This ended up working out really well again, one of the ways we look at reversals in crypto or one of the ways i do is waiting on rising support levels and the breakout of a level of structure and then waiting for a pullback to that level of Structure, the 50 ema is something i incorporate a lot as well waiting for a break of that moving average. A lot of times can signal a possible reversal in a market so move on ada again, i didnt really have that much on this pair. But now i do, let me explain what i mean at this point. We have now broken not only above the 50 ema, but weve created new higher highs compared to our previous high. Just very basic trend. Identification is all im doing. Market structure is all im looking at when performing technical analysis on crypto. So at this point, im dropping down to the one hour chart and im be trading trend continuation, but i need a pullback to our previous level of structure in order to do so so ill need a pretty deep retracement here on ada to start buying and to Start buying more im actually involved in a little bit of ada right now, but to start buying more ill need to pull back into the 2.
14 area. Just to follow my own rules, i dont buy unless im in an area of value. What i see a lot is traders will end up seeing something like whats happened in the past day or two, and they will buy at these highs because they dont want to miss out that fomo kicks in that fear of missing out and theyll buy right here. Just to watch the market, pull back, theyll, get scared and theyll exit their position right here and then theyll get a pop because they dont understand technical analysis and they dont understand the fact that we have an area of value right here right and if im going To buy im not going to buy at all time highs or im, not going to buy at brand new highs im going to wait for pullbacks and get value or get the most valuable entry. I possibly can so on 88 thats. What im, looking for in the future back to the four hour chart snx? This is one that we got completely wrong and thats gon na happen, especially with how the little coins tend to follow bitcoin. So much bitcoin pretty much determines the overall strength of the entire coin market right now. So with that being the case, our analysis here on snx was wrong. We didnt get into a trade. We almost did right here, but i never really got an entry reason. I was actually waiting for price to come down and give me some kind of retracement to this area of structure.
I wanted to see confirmation of this breakout. I wanted to see price break out of the bottom of our support level here in the bottom of our descending wedge before looking for a pullback and continuation that never happened, and instead weve now pushed up and went above the 50.. So guess what my analysis is? Changing at this point, im dropping down to the one hour chart and similar to ada im waiting for a pullback into previous structure somewhere, like that right there so ill be waiting for snx to pull back and im in buy mode now, instead of being in cell Mode because of the fact that our higher time frame is now making new highs and breaking above the 50 ema. Because of that information that i now have ive switched my bias from. Let me look for sales to. Let me look for buys on the on all coins that are doing this right. Next up, we have dogecoin, which ended up being a really nice trade that we took here on the one hour chart. As we said in the video, we were just waiting for price to come back to around the 20 cent area. We got down to it and ended up getting this nice big, green candle, which was buying pressure for me ill zoom in to make this easier to see this big green candle right here was buying pressure market pulled back a little bit more and i ended up Getting involved and because of all the buying pressure that came into bitcoin, it ended up pushing up every coin, as i said, and this just happened to follow it, which ended up hitting our targets for a little over a two to one here on bitcoin ethereum classic.
We had nothing on this weve now or since actually pushed up lets go to our higher time frame. Im, not seeing anything until we get another push up. If we get another push up out of ethereum classic, then why dont you tell me what you think or you dont have to tell me, obviously just to do it on camera, but write in the comment section. What do you think the next steps are? If we get a nice move out of ethereum classic up here, if that happens, then what ill be looking for is a pullback to this area of structure. Looking left right here ill be looking for a pullback into that area before a possible buying situation here on ethereum classic next up m a t, i c or matic. This trade worked out perfectly as well. As you saw from the video last night. We had a break into new highs that also broke above the 50 period, moving average, both of those insinuating. We could see a possible reversal. We also had a breakout of this triangle pattern with all of that, coming together, dropping down to the one hour chart finding a level of structure and waiting for buying pressure was a no brainer and thats exactly what we did now moving forward here on matic. Again, almost like ethereum classic im going to need to see a push higher before looking back at this level of structure for a pullback and possible rally even further to the upside next up and lastly, we have ethereum, i actually ended up, adding to a position already Had on ethereum last night or the night before last, whenever this happened here in this zone, which averaged me in at a lower cost? Well talk a lot more about that in later videos, but ended up getting in around 29.
50 here and the reasoning behind this again. As we said in the video, we have rising support levels. We have a break of a level of structure, we have a break above the 50 period, moving average, putting all of that together and combining it to go okay. Well. All of this is showing me buying pressure and, if im seeing buying pressure enough, then that should cause a breakout to the upside and thats exactly what we got and should cause a possible reversal, which is what we saw here out of ethereum and what we saw Out of so many coins over the past day or so moving forward, what do you think im looking at for ethereum, if you said waiting for price to pull back to this area of structure, you would be completely correct. That is exactly what im looking for to add to the position in ethereum that i already have so thats going to do it for todays video guys again. If you are interested in getting something like this, each and every week then go ahead and go to www.ttc4x.