But jokes aside, here we are bitcoin. Has put in a bit of a shakeout, you know short trap signal its bounced away back above 20 grand so in this video here im going to be taking a look at bitcoin, short term time frames altcoins as well. So, stick around till the end im, not a financial advisor, so everything i say is general information and for education and entertainment purposes. Only trading and investing is incredibly risky. So you must always do your own. Due diligence seek your own professional help and guidance before making any decision in the market and past results are not indicative of future performance jason and i have our free trading crypto and investing newsletter. We cover more than just crypto, also the economy macro cycle. So if you do want to get on board jump onto tia, crypto.com subscribe, the next edition comes out in just a couple of days, and you will have to have your name on that list to receive the newsletter. Also, if you want to put your trading skills to the test, where theres up to eight million dollars in grabs, join our squad jason, my squad, crypto hobos ill leave a link in the description below, and you can also get yourself up to 4 100 and sign Up bonuses, depending how much you make on your first deposit, starting out with bitcoin on the daily time frame, what ive been really looking out for making videos about talking about is a break of that 20k support level, but for any dip from that point.

To be short, lived and for short traders, not financial advice, just ideas and what im thinking about is any short trades would need to be closed out rather quickly at a profit, because the price was probably going to snap back quite quickly. We saw that on saturday dropping to around 17 and a half thousand dollars 17 622 before snapping back pretty quickly, and here we are back above around that 20 grand only just so now. What im, looking out for in terms of getting a bigger bounce to the upside, is, if we start to see some short term trends, turn up which they have and ill show you in just a moment, but some more daily confirmation as well. So we can really look for some trends to last more than a couple of days and if we do start to see an uptrend to get some more upside momentum to just get away from these danger zones. Now, broadly speaking, for the bears to get back in control its really not that hard, because obviously bitcoin most of crypto is still down near their cycle lows or their current cycle lows anyway. So if we do start to see, some lower tops closes below that 20. Grand then i just do think the bears are going to maintain control back again, but i can almost promise you. A bunch of leveraged shorts got completely wrecked by leveraging up too much on that short trade expecting 15 grand 10 grand whatever the next round.

Psychological number is, but obviously the market did snap back up back above that breakaway zone. So you know just something to keep in mind with what the masses sentiment might be doing at key levels now zoom into the four hour time frame, and you can see how bitcoin is just really trying to work its way back above that previous support zone of 20 grand theres a lot of support back there, obviously the previous cycle top from all the way back in 2017 as well. So i do want to see the price maintain that 20 grand you know and start to accumulate from that point forward. Now we do have some short term time frames. The trend is already turning up. You can see that by the green on the background of the screen, if you do want to know more about that indicator, ill leave a link in the description below where you can access the indicator and learn a bit about it as well. So we can already see short term trends are up the daily trend isnt up yet so, obviously we want to be seeing the small wheels turn first and that will eventually turn the big wheels as well. So at the moment, everythings looking pretty good for at least some. You know stabilization in trend, provided we do continue to close above 20 grand so just a few things im, keeping in mind there in terms of some short term 50 levels.

I use 50 for strength and weakness, support and resistance. Uh, even just going back to a couple of our previous four hour, tops down to the current low. We can already see were getting resistance, basically dead on that 50 percent as well. So i hope everyones still using their 50 tool, keeping an eye for where that support and resistance can come in. So i do want to be seeing some shorter term levels obviously get back above around that twenty thousand three hundred to twenty thousand five hundred and start to consolidate above there, as well as a previous cycle top and twenty grand ethereums had a great bounce away from Its lows it put in something like ten to fifteen percent, just in yesterdays session and its also starting to hold back above the support that we saw all the way back from the 14th of june, also the 15th of june as well. So you know its looking relatively bullish, provided the price can hold. The trend turned up back around a thousand bucks, and here we are about 1080 bucks, so im you know, i just want to see the price maintain those previous support levels, much like bitcoin in terms of pattern and market structure for the bears to get back in Control for ethereum the price will need to break back below around that thousand and fifty odd bucks being that support level. If we start to see some lower tops below that level, and also this indicator also does have that swing chart, you can see overlaid on top of the chart as well as a trend.

So if we do start to see some lower tops below around that thousand and fifty odd bucks, i do think the bears are just going to take back control quite quickly. You know this bounce will just be nothing more than a bear market rally. If we do start to see something like that, kerano is grinding away. You can see its really just trying to turn its trend up after being down for quite a while, since the top that we saw all the way back on the 8th of june. So weve had a few transitions from up to down, but, broadly speaking, this market is just congesting and sideways. The trend obviously works best when were broken away and were in a clean market, then were looking out for those reversals when the market is sideways, it is a matter of just you know, rolling, with the punches so to speak and waiting for a clearer breakout. Above some more technical levels, and at the moment, if we are also just looking at a 50 level from top down to bottom, we can also see how theres some pretty clean resistance right on that 50 and also a short term trend line. I first introduced to you guys on the channel last week, prices not being able to get back above around that 49 price point so for the bears to get back into. You know a bit more of better control for cardano. I do want to see some high lows and closes above around that 49 price point now.

Solana ive stepped up to the daily time frame, because i do like the daily pattern set up much better than the intraday time frames. I want to be looking for some bigger picture breakouts because it has broken down so far. But overall i am liking the look of solana in terms of getting back above some previous resistance levels and maybe the bulls getting in a bit more of control. But if we are looking at some 50 levels, you know obviously from our previous top before the market did really dump its finding some resistance, basically dead. On that 50 level, you could also be looking at some shorter term levels as well uh, but in terms of that, previous top, where theres already been proof of where there is resistance in the market, its struggling to get back above around that 35 and 50 cents. So for solana, for me, i want to see you get back above around that 36 bucks being our 50 level well above it, and also that previous resistance in the market as well. Well, it was support now its starting to act as resistance, so for the bulls to get back in control thats, what im looking out for for seoul and obviously to get some green on the background of the screen, its just been downtrend for months and months and Months in terms of the bears getting back in control, we are just starting to grind for solana in you know a bit of a wedge at the moment.

If we do start to see a breakdown of those recent lows being the most obvious level, then the bears are obviously firmly going to be taking back control of seoul, and that comes in at about 26 bucks. Now galas been a bit of a pet market of mine. I have really liked the look of it just because it is holding above the 12th of may low, where a bunch of crypto have broken back down below and are in a technically weaker position, but for gala it is still holding it, but the volatility. The momentum is just really dying off and it is hanging out around that low, which is a bit of a danger sign, so the bears could really take firm control of gala if it does break uh break back down below around that five cent price point. Being those previous lows – and this could be looking like some distribution and we could be seeing another decent leg – lower – always be wary of those little short traps. If we do kind of spike below and get back above, something im, always kind of keeping at the back of my mind, but in terms of some bigger picture plays that something that could be lasting more than a few days. You know a bit of a multi day, multi week, move for something like gala. I do like the macro view. You know at least macro going back to may and to look at some 50 levels as well.

We can see that we have a 50 coming in at about seven cents as well, and i like the fact that this 50 lines up with some previous support in the market. So if gala can get back above around 70 cents holding that 50. Holding that previous support, i do think it could be on for a reasonable ride, at least from there. You know lasting multi days, maybe a couple of weeks, if you can do something like that, link is another market i quite like, because it is still holding its 12th of may low as well, so for technical reasons, its holding that position of strength. It came back and false broke. You know sucked a few shorts in before bouncing back above, so i do think that shorts are starting to get exhausted if it can hold the current price above six bucks, at least and in terms of some other breakaway points, that im looking out for higher down To low we get our 50 coming in about seven dollars and fifty cents. You can already see how it acted near on perfectly as resistance its starting to break above its trend line as well, which i also like and above its recent support, which i also like once again theres a lot of um. You know key things coming together: full link, at least on the daily chart. You know if we start to see a break above around 750 and holding above there.

I also think this could be putting in a reasonable run multi day, maybe a week or more uh. You know breaking away from that price point as for the bears quite obviously, and quite clearly, if the price breaks those recent lows coming in about five dollars to 525, then the bears will be back in control very firmly, and you know theyre just going to be Continuing to short the market thats, what they do so overall for the market well theres a few early indications that maybe were going to be getting a bounce from here with a bit of a short trap, playing out a lot of volume coming into the market and Not too much movement in terms of price, you know the trends are still down, as you can even see on the daily time frame for something like bitcoin. They havent been up for over a month now or around a month now, so you know it is always one step at a time. We want to see those breakaway levels. We want to see some more confirmation, all of that kind of thing, to really confirm these trends in a bigger way. Just so we see more than some short term pumps. You know, depending on what kind of time frame youre looking at for the best youd be getting back in your troll. I told you what i was looking at there in terms of getting back below 20 grand for the bulls to be getting back in control.

I want to see it hold this 20 grand some higher lows. You know some more breakaways. All that kind of thing, as i always talk about on the channel, make sure you jump on board for the free news that are coming out in a couple of days and also the world series of trading up to 8 million bucks in prizes. As always, if you did enjoy this market update, you know what to do and until next time ill catch.