But that doesnt mean theres, not important information given to us as to what the likely direction could be, or at least what some setups and plays could be in the market, which is what were going to be covering in this video. A quick word and thank you to everybody watching this, because my channel is now just over one year old and its obviously gone through some pretty big growth. A lot thanks to my brother jason, who also has quite a big youtube channel. But i do want to thank everyone who has you know stuck around watch from the beginning or jumped on at some point in the future, to you know really get on board with whats, going on in crypto and technical analysis before getting onto youtube. I was literally just a trader ive been doing it for about 11 years, did various other things as well in between such as property, and you know if you do want to go back and see my original videos. I have a property series that ive left on the channel all the way back from june of last year, and you can make fun of how bad i am at being in front of the camera. But i do want to thank everybody who does take the time to watch these videos and even leave a comment if it is just a thumbs up or a thank you. It really does mean a lot, and a word on the other comments is about an 80 20, where 80, either positive or negative, are leaving thoughtful comments and theyve actually watched through to the end and moving forward im actually going to leave an emoji at the end Of the video and do put that at the start of your comment, if you have watched the entire video because theres about 20 of comments, that is completely thoughtless, they just want to share some hate or just spread some hate and those ones there.

I dont want to be putting any time into so you know moving forward if you dont do want to leave a thoughtful comment after watching the video do put that little emoji at the start and ill put more time invested into your comments, because i do look At them all i dont have a ridiculously big channel. I dont have thousands of comments and you know if youve taken the time to really watch the video ill. Take the time to read what you have to say now, with that little announcement out of the way we can get into the charts to see whats been happening, as there has been little follow through well be looking at some short term analysis on bitcoin, as well As a bunch of alt, so stick around 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, starting out with bitcoin. I am on the four hour time frame and what were looking at in yesterdays video was the fact that there was some rounding tops and the buyers just really seemed to have. You know, left the market at least momentarily, and the trap signal that little danger signal. I was talking about is that there was a chance that the market could push higher before having a decent correction and thats.

Basically, you know what weve seen to a t. Sometimes it works out pretty good. We saw a little pump higher and what i was saying is im just cautious of any break higher from where it currently is. What would set this market up? In my opinion, for a better move higher is a more decent correction to really flush out. You know some of those long hands that are just weak, long hands or at least sucker some more shorts into the market before reversing and going back up, you know another little short term short trap. If you like, you know a smaller scale of what we saw into 17 and a half thousand dollars so im, not saying theres any guarantee of that actually happening. Of course, there are no guarantees, but just what im saying is if we do see something like that, you know a reasonable correction from where the market is. I do think that could be setting up upon confirmation. You know some breakouts or something like that for a better move highs and a multi day move higher to really move away from this 20 grand support level, the underside support level i was looking at for bitcoin, i didnt want to see it go lower than around 18 and a half thousand dollars, in my opinion, any correction down to around 18 and a half grand could still keep this market in a bullish phase. You know, especially if it is just wicks down to that price and then closes back above around and 19 and a half.

I would maintain my bullish stance, which i have been for a number of days now. You know, especially after we saw that little dump and correction. I do think that has flushed a lot of people out of the market and theres actually some room to move uh to the upside. You know no guarantees, you know the big danger, the old up down and sideways is the price could just you know, drift sideways and all the life be sucked out of the market and not go anywhere but thats one of those things which have to take it. As it comes, you know i still do maintain that little bullish stance provided we can hold above around eighteen and a half nineteen thousand dollars and youre, not just gon na, have to take it from there and see what happens. You know from that point forward now that the market has moved a little bit higher. We can adjust our fifty percent tool from the top down to the bottom and you can see that comes in at about nineteen thousand six hundred and seventy dollars. So you know, ideally for the most bullish scenario is if we do see some kind of shakeout and correction below there with a closed back above around that nineteen, six nineteen, seven uh, you know, for you know a more accurate number as opposed to that 19, 19 And a half that i was talking about before so, although i am looking for some kind of decent correction to set up a multi day up move, of course, the market could just continue to boom ahead thats just the way it goes, but in terms of short Term trends we can see the trend has been firmly up all the way back from a few days ago.

Ill leave a link for this indicator in the description below it is my go to indicator. I can see the background of the screen is obviously green. The trend turned up all the way back around 19 19 and a half thousand dollars, but nevertheless there are still higher bottoms. We have just had a break of a bottom, so you know were just in that transition period of the trend at the moment. But overall there hasnt been a downtrend for a number of days now and long has been the way to be at least for the short term trends, short term trading. All of that kind of thing, so overall bitcoins still looking pretty good its holding up well above its 20 grand support level, and you know we have a few price targets down below in terms of correction zones. I still do think any shorts. In my opinion, profits will need to be taken pretty quickly because i think the bulls still are just slowly getting back control really slowly and ill. Obviously, flip my view very quickly. If we do start to see a break back down below, closes below lower tops below those same prices of around that 18 and a half 19 grand thereabouts, i think, bears – will be taking back control and were going to be testing that 17 and a half k And potentially, going even lower ethereum had a similar pattern to bitcoin, like i mentioned in yesterdays, video as well tops are rounding off id, be very cautious about any little breaks higher, which is what i said yesterday and, as you can see, we had a bit of A false break: now the trend is sitting back in the transition period, its not green anymore trend, isnt down, but its just not you know defined as clearly up as the indicator displays, so it did turn up all the way back around.

You know a bit over a thousand bucks here. We are at about 1123 bucks. You know, obviously over a 10 percent move even just to the close price. You know much higher percentage move to the peak uh, but you know overall, the things are still looking pretty similar in terms of pattern for bitcoin and ethereum. The lowest id like to see eth go is around that. You know 985 bucks, a thousand bucks for our numbers and we can even look at our 50 level from the current top down to low that comes in about a thousand and 37 dollars which lines up nicely with the previous support zone. So any wicks below around there to around that 980 odd uh, you know i would still be seeing as bullish provided the price does get quickly back above that 50 level and um you know, continue to grind higher from there. At the very least. If we do start to see some short term closes and lower tops below these support levels, what im, anticipating to be support levels bears will be back in control and it will be, you know, a shortest game. Once again, now solanas been one of my pet markets. Ive been calling it one of the stronger markets. You know for a number of days now, before the trends turned up, and you can just see how this is still in a clearly defined uptrend. It has broken above that 36 dollar price point which i was anticipating to be.

You know a good breakaway zone for solana in terms of a daily setup uh. You know a correction isnt off the cards from here, but overall the trend is still up, but if we are to see some kind of correction id still be maintaining my bullish stance as long as it holds above around that 32 price point, we can even look At a new 50 level from the current top down to the low that comes in about 33 dollars and if we go all the way down to the actual low that comes in at about 32 dollars and 50 cents, so overall salon is still looking pretty good. Its back above the support zone from the 12th of may low, and also the low on the 4th of june, actually its still trying to work above the 12th of may low, but its well above the 4th of june. So, overall, if the price cant even just consolidate here, you know it is still in a rather strong position, because it is working a fair way above the previous lows that it saw you know just a few days ago, or rather you know a week or so Ago now, back on the 13th and 14th of june garland, my pet market, it did also put in a similar pattern to bitcoin ethereum, where it did have that little pump higher, but it just wasnt able to maintain the pump. So really the theme from yesterdays video was: i wanted to see a reasonable correction to set the market up for a longer term.

Move up. You know a multi day move potentially going into a multi week move. But what happened was we got that little pump right around the open of the us or in the us session uh without getting that correction first, which means now the market is correcting after suckering a few people into the market long. You know thats just kind of whats been happening across the board. A pattern will well aware of in yesterdays video. I still do like gala as a bit of a longer term play if it can continue to hold up and grind. You can see the short term trend is still up by the background of the screen, and you know its just trying to really work its way back above those previous lows. The thing i like about gala, like ive said previously, is its still holding well above its 12th of may low and its just trying to put in some higher prices. It could be putting in a bit more of a broader consolidation pattern and what im anticipating is being accumulation theres, still no confirmation of that. Yet but overall things arent looking too bad for gala in terms of some breakaway zones, id now be looking at a trend line from that previous top down to the current top and ill just kind of extend that out. So you can see where that gets to id, be keeping that same 50 level on the chart as well, because i still do see this as an important 50 level coming in about 5.

8 cents. So you know if we do start to see a bit of a break away from where we are at the moment. I i do think we could be getting a decent move up to around that old top of about that 6.6 to 6.7 cents. Being a pretty clear resistance level, so any breakaway from around here uh, you know, i think, theres a bit of room in it on the short side of the market. I wouldnt want to see the price close below those previous support levels at around 5.4 cents. So any wicks below, i think, will be fine and id still be maintaining that bullish stance of setting up for a better move higher. But if we do start to see some closes below lower tops below, i think the bear is going to be getting back in control its going to be probably breaking through those lows as well. So in terms of opportunity zones, i think theres a bit in it for gala. You know either way it just needs to get out of this bit of grinding pattern and a bit more energy to come back into the market links. Another one ive been anticipating to be in a much stronger position than a bunch of other alts, and you can see even just from trough to peak its putting almost 40 gain. Obviously, i dont think anyone is buying that bottom tick and top tick in the market. At least for me, its about taking a chunk out of the middle and, as you can see after it kind of broke above its 50 put in a higher low around that 6.

50, that price weve been looking out for its had a decent little run up. All the way up to the previous resistance zone at around that 7.50 cents. So now what were looking at is a bit of a correction. I do think this could still be setting up for a better uh daily move up as well. Theres been a bit of an intraday move up, you know. If you look at the daily chart, there still was a bit of a daily breakaway too, but in terms of a multi day multi week move up. I do think we could be seeing a bit more of a correction and a breakaway to last longer than just you know. You know a couple of days. I want to be seeing something lasting more than a few days to get more excited for some bigger gains. Until then, it is still just smaller, shorter term grinds thats. Why ive been talking about taking profits quicker both in the long side and also short side, but, of course, thats? Not financial advice? Everyone needs to do whats right for them and suits their plans in terms of correction zones. We can use that same 50, its going to be pretty similar to that previous top. We have broken through now, so we can update to get that new price of around six dollars and fifty cents. You know its only three cents higher any weeks below are also still fine. Like i always say, weve got a bit of a resistance, rather support level which could be a support level below there at around that six dollars and twenty cents.

So if i do see a continued downtrend in link wicks below around to that 620 odd and closes back above around 650, i think that could be setting up for a nice daily move higher now for the short side of the market. You know at same price point around 6.20 if the price does break back down below obviously close below on the short term timeframes start to put some lower tops in, and this indicator that i keep banking on about leave a link in the description below. It also shows the swing chart as well, showing tops and bottoms you know, and also the trend and a bunch of other features. But anyway, if we do start to see a breakdown below the 50 level around 620 and some lower tops. I do think the bears are going to be back in control retesting, some of those lows from late last month and also early this month, rather just earlier this month. What am i talking about? Uh, you know and thats down to around that 5.40 price point now. If you do want to put your trading skills to the test, then why not join up for the world series of trading where theres up to eight million dollars in prizes, and you can also get yourself up to four thousand one hundred dollars in sign up bonuses When you use that link in the description below, if youre after some more free content, make sure you jump over to tia crypto crypto.

com subscribe, put your details in and youll receive our next edition of your investor insider, where we cover crypto and also the economy as Well, a quick look at the macro overview shows that the macro trends are still obviously firmly down were in that slow recovery period, where the market can start to grind, go sideways with limited volatility, but overall on the daily trends. Short term trading as well. On the four hour, charts theres still plenty of movement going on, but just keeping the macro view in mind. Perhaps we are going to start grinding in a bigger way, its always one step at a time. But what im really looking out for now is a test, at least of the underside of that fast recovery period. So for the total market cap that works out to be about 1.1 trillion – or you know a bit over 20 from where the market is at the moment for the whole market, somewhats going to pump by more some less its just a matter of really identifying which Ones, at least by ta, are likely to put in those bigger moves and going to be more volatile. If you did enjoy this market update. As always, you know what to do and if you want to leave me a comment, positive or negative leave me a little grin face, so i know youve watched through to the end and until next time ill catch.

https://www.youtube.com/watch?v=tIcgJ1NImD0