Thats known as a topping tail topping tails are very, very bearish signals Music, hello, everyone. Today, our guest is gareth soloway in this video gareth soloway talks about how he uses, charts and other various factors to predict markets and especially bitcoin, to earn more profit and occur less losses if you enjoy this highlight videos please kindly subscribe and help share this video For us to share more of this valuable content, thank you, after briefly, inching towards the 20 000 mark. Bitcoin is back above 21 000 with the overall crypto market value crossing the 900 billion dollar mark. While many analysts speculated that wednesdays low may be the bottom of the cycle, others have warned that more volatility may be on the way. Btc remains over 70 percent down from its all time, high in november 2021., the overall crypto market is valued at about dollar 909 bn as leading cryptocurrencies, including ethereum cardano and solana have sunk in price by over 20 to 30 percent over the last week. Major platforms, including celsius and binance, have experienced operational issues this week, which they blamed on an influx of investors liquidating their assets in this video gareth soloway reveals how he and anyone can predict the markets in bitcoin. I basically went to a firm. They gave me 50. 000 in leverage, so ten thousand was mine. Forty thousand was theirs and i started to try to trade, and i knew enough. I mean at this point i was still brand new um didnt know what i was doing.

I was losing money, it would always come out of my ten thousand, so it was just dwindling down, and so i literally was a bartender at nights. I would teach bartending on the weekends to people that wanted to be bartenders. I would work at a catering company on the weekends, and my goal was always to just reiterate that this is the passion, the trading side, so i have to work hard and make it money and then just put it in my trading account right just keep putting It in i would lose it put it in more, lose it put it in and – and that was really the steps that i took until. Finally, i turned a corner in investing where i began to make money and it didnt come overnight right. I mean you know id have a few more winners in a week and then still some nasty losers and then the next week, maybe a little bit more and it was a slow kind of slow slope up and finally again getting to that point of profitability. Was it was a long stretch, but it was a it was. It was an exciting thing to get to you know in my early in my early years, not so with crypto, because i, by the time i was really investing in crypto. My career was pretty far along and ive learned my lessons, but you know early in my career theres, no doubt about it.

I mean i still remember a day trade i took you know i had about a hundred thousand in my my day trading. My trading account at that point and in one day i lost seventy thousand dollars in that one day, trade it just kept on going down and i kept on dollar cost averaging, assuming it would bounce and it just never did, and at the end of the day. I had to close it out and you know it was like i still remember being in a haze right like is this real life? Am i dreaming like what am i gon na wake up like whats going on here and then you know my one of my things is logic right, so i always try to bring myself and ground myself and so what i did in that situation and ive done It since in other situations, is always remind myself. Do i have a a roof over my head? Do i have food to eat? Can i make more money and if those answers are yes, then youre fine and you can go back and work and and im proof in that of where i am now in my career that that you can do that, you can, you can get wiped out. You can start over and still make it huge, but you have to pick yourself up and learn from your mistakes so with bitcoin. You know i started with a position in bitcoin at believe it or not.

48 000 was my first entry right around 48 000., but i, but i i said all right: im gon na buy a hundred thousand dollars in bitcoin im gon na just put 20 000 in here and then what it enabled me to do is when i was Wrong and it came down, i was able to dollar cost average and i just bought another 20 000 here and then and then, when it got to my next major level, which was 30 just around 33 000 thats. When i went in with a little heavier position and when it bounced, i was able to make 10 on that position just by doing that. So so it kind of enables you to correct for errors that the market is naturally going to throw at you and again. The key is going into a trade. Be humble enough to know that the market can do anything at any one point and you need some of those extra kind of bullets on the side to use them. If you need them, you know youre getting you get an 80 draw down. I mean, even if you get a 70 draw down, youre still down to 20 000 or sub 20 000. So people need to be ready for that um it all it would be doing, would be replicating past cycles and then it can go on to new. All time highs so i am over. You know overall bearish on bitcoin for the next year or two, and i think at that point you will see the the emergence of it as a real story of safety.

Im hopeful that we get some government regulation. I know everyones scared about regulation, but if you ever want pension funds which have trillions and trillions of dollars, if you ever want older generations to buy in, you need some sort of safety net in the crypto world right now, its still the wild west out there. Whether its nfts or whether its people getting into your account stealing your bitcoin, its not fdic insured, like stock accounts, are where they you know, the government will give you your money back so theres. So many different things here that need to be fixed, but i do think it will get fixed, and then i see bitcoin honestly in the next decade id be shocked if it doesnt get the 500 000. and then i think it was that exact day where it Bounced back into the 40s – and i actually took my money off the table there because it was such a dramatic bounce there and honestly, you know my net expectation was that you were going to kind of chop around and come back in and thats kind of exactly What you did, and then i started talking in the previous months to this uh to the current time, about a float up to basically what we would call a retrace to the scene of the crime. So again, for those of you that have followed me on twitter and so forth, ive been talking about a rally back to about 52 500, maybe as high as 55 000 and really what that is, is a technical retrace.

So here you had this head and shoulder pattern which played out picture perfect to the 30 000 level. Thats why i was making that call when i was on last time and then basically oftentimes youll see this on more charts than not price. Eventually goes back to that same trend line, we call it the scene of the crime, so the crime, essentially the breakdown, occurred and that trend line when it was breached and somehow price wants to go back there, but when it gets there, it actually has a lot Of trouble theres a lot of resistance right there and, interestingly enough, its funny funny were talking about this, because today, bitcoin just had a pretty big drop on it and trading now around 47 000 um. So a pretty big deleveraging event there in bitcoin. The thought process on on bitcoin should be that youre gon na see some chop between this 50 and 40 level 40 to 41 is going to be a lot of support. Eventually, i do believe it breaks. It goes down to the 30 000 level, which will re test that that that target from the head and shoulder breakdown that was back in may youll get a big bounce there, because theres going to be a lot of investors. That say: oh, this is the low pivot. This is major support um. Ultimately, i actually expected to go lower to about 18 to 20 000 and this would be a retrace to the 2017 highs on bitcoin and thats, where ill be really accumulating.

So there are a lot of games that are played in the market right. You have computer programs that are trading back and forth, and these computer programs are programmed to push traders to to their breaking point. So essentially, you know: theyll have a chart that goes below a key support line and itll get a lot of people to stop out of their long play, but also itll get some shorts on board and then what youll see is thats chart will just rip the Opposite way and people are left like wait, what the heck happened, i thought it was breaking down. The confirmation technique allows you to look for a secondary, close below that previous low, which, essentially, if that happens, it tells you that the algorithms are not. You know essentially manipulating that so thats a key technique and at some point in the future, maybe i can really show you guys on the charts how to do that, one, but thats one of my favorite ones, um. There are a couple other things out there as well, that are really beneficial, but but its important to recognize that theres a lot of fluff in the market, and you have to be able to cut through it and kind of learn. The nuances of how the institutions are trying to push things around, i usually go counter trend, so one of my biggest strategies is actually going counter trend, so people say dont catch, a falling knife right, a stock or a market or a crypto.

You know its falling dramatically and theyre, like oh, its too scary, youre gon na get hurt well, first of all, using that technique i first talked about in terms of of buying small positions on the way down is very beneficial there, but also reading the charts right. So so, if if a stock is falling, theres going to be a level that bounces at the question is, can you decipher that? Can you read that chart accurately enough to decide where the highest probability buy level is going to be so that you can step in and again it might be a gap fill it might be a double bottom. It might be a time count with a double bottom. Theres different ways to do that. No absolutely i mean over the amount of thousands tens of thousands of trades ive done in my career. You absolutely do so individually. I would say each pattern formation if its a perfect setup is probably about 60 to 70 percent accurate. What i found – and this is the trick right – what i found is looking for two of those three together. So if you have a time count that comes right into a gap fill the odds go up from it, basically, its like adding two positives right. So now you have, you know something that was 60 60 to 70 percent. Accurate now jumps to 80 to 85 and thats, really what we do so, for instance, when im trading, whether im day trading or swing trading by the way charts are universal.

So if youre trading, forex or crypto or stocks or commodities or futures, or anything like that, its the same techniques work on every chart and basically what you find is that again, two of those pattern, setups together or two of those setups together boost you to a Level where you can actually really do very, very well in investing and trading, i would say one of the very important things to master is especially in this market right now, whether its crypto or whether its the stock market or anything else, look for signals of distribution. So look for things that are telling you that a top is near because one of my big fears about the especially the equity markets here in the us is that were getting close to a big corrective move. In fact, we actually confirmed talking about. We talked about the confirmation signal earlier. We actually confirmed a potential cycle top on the s. P, 500 and ive been seeing certain things in the market that are telling me theres big money selling. Basically last tuesday see this candle formation right here this one. This is called a candlestick chart by the way, and this tail on top were closed in the lower 25 percent in the trading world. Thats known as a topping tail topping tails are very, very bearish signals. I notice how the next day they tried to get up to that high and take it out and it failed that was significant.

You then continued down and you could see the selling this is the nasdaq 100 chart and again to me, this is a signal that money is beginning to exit the the market. When you get these tails, basically its formed by people buying initially and then some big player is selling into it, forcing it all the way back down generally the only players that have that ability are going to be institutional players or big money. And again, you have to take those signals as an indication that something is up. Crypto options trading can be confusing, especially in a sea of derivatives, but for traders looking to hedge risk on a long or short trade. This derivative is a powerful tool in a volatile market. Crypto options can be used to help reduce risk in trading portfolios. Sophisticated option strategies have potential to protect traders from catching knives in attempts to tie market bottoms. Do you like option trading and trading in general? Do comment and share your views in the comments section. Thank you if you enjoy this highlight videos please kindly subscribe and help share this video for us to share more of this valuable content.