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Bitcoin | Chainlink | LINK BTC | Price Prediction Today | NEWS & Market Analysis | May 2020 🏮

VIDEO TRANSCRIPT

Good morning. Good morning. Good morning, guys. My name is Sean Dexter and my name is Krisha. And we welcome you to The Mango Grove on this Friday for your daily Bitcoin chain link. And that’s cool. I like to say it, whatever else. This is new video. All right. So, Cuccia, do you want takingly today? No. I’m going to let you do the talking for the most part, because we actually found something rather interesting today. Did we? Oh, yes. Yes. Right. So we were actually sending out a couple of Bitcoin transactions when we noticed that the fees have hit the roof. Yes, they have. So I said peculiar Shaan. Well, usually I would I would just brush it off because fees do go up from time to time. It’s part of it’s part of Bitcoin does. But this time around, it was interesting to me because it’s happening maybe soon after the halving. Right. I was I was, in a way, keeping an eye out for this. So prompted me to come on to the charts, oil and check out what’s going on here. And if you noticed, gusher fees have gone up and we’re looking at oil. The shot is over the past 60 days. We’re looking at the transaction fees in BTC amount. So this isn’t the USD value of the transaction fees. So you can see or hear Bitcoin has gone up in price. So that’s why the transaction fees are gone up in price on total amount. Well, this is the total fees in Bitcoin value and they have gone up pretty spring notably. Right. And the reason I am interested in keeping an eye on this moving forward is because everybody’s been questioning how I know is going to survive. If they block, reward is going to reduce. And for those of you who are a little confused on what I’m talking about, the block reward is the mining reward, the bitcoin that the miners receive for mining bitcoin. Right. If they manage to find the block Proval folk, et cetera, I’ll go ahead and read my article to explain proof of work. Use simple analogies on mango research. OK, cool. I will link that below. Yeah, you say that, but you never do. I don’t. No you don’t. And then people at Billye will definitely link this one below in the description. But hey, it’s movie night. You can’t get stuck doing all of that stuff. So she she she does this where she’s like, okay, I’m going to do this. This is one thing, Sean. And then I’m I’m waiting for her to come back and she’s just gone. Jesus, can’t you find the darn thing to do? Oh, by the way, shout out to Wishaw. He recommended a really nice movie that we’re going to be watching today. Show which one? I’m not gonna mention it because I know that at least one YouTube fan of yours is going to comment underneath and ruin the movie for me. It’s like giving us a tour van. So, yeah, let’s go back to what’s going on here. Right. So transaction fees have gone up. And what’s interesting, I do have a chart here. Okay. Yeah. Conformal transactions per day, however, are still pretty healthy, right? Yeah, they’ve come down, but it’s still in this rising channel again. But look at only the past 60 days. Now, what is it? I mean, you said something about, you know, your thoughts on on well, the fees going up. I thought it was rather interesting. What were my thoughts on the whole, you know, the free market. Oh, right. So this economy. Well, how people are confused as to how these fees are actually set. It’s not really the miners who are setting the fees. Right. It’s people who are out competing. It’s actually US users who are trying to outcompete each other to get priority. Yes. To send out transactions. So if you guys have noticed, we get to set the fees we want when we’re sending out a transaction. The miners are going to be picking the fees or other transactions that gives them the most money. Right. So if a farm lobby wants to bid a high amount, it’s not going to go up that high. Right. It’s only when people are actually willing to pay those fees that the fees are going to go up. Now, keep in mind, the miners could refuse to mine if they feel like the transaction fees are not good enough. But usually that even if you put your fees are zero, eventually all transactions should get sent through. A miner will just pick up your transaction, put in the block. And yet again, we’re going to go into to me to take the technicalities are going to get too much. So, yeah, this I’m gonna be keeping an eye on this to see. You’ve been on all of this to see how all of this unfold over the next six months or so. Yeah, there’s something interesting to keep an eye on now. Yeah. Let’s go back on all the charts. Crucial what you think both of our bullish. Bullish? Why, yes. I liked yesterday’s close. First of all. But however, note that we are heading into the weekend. Right. And so also, where does. Seems close, still an open seemy atmosphere. So if you guys are concerned, what, that gets filled? We can look at it if we do form a significant gap like we did last time. It’s what it worth watching. But let’s look at the mangled ribbon. Right. How is Bitcoin closed down? We did close all the tennis. I mean, it came down, tested it, and we’ve bounced this morning before. Also had a really, really good close. And what do you know? Right. Coming down, testing between when he made testing the tank in the tank in the tunie. I mean, closing all the tennis somy as well. And every candle since then, we’ve been closing all the tennis. I mean, this is looking really, really bullish. Bitcoin is acting spec tactlessly for me, for my positioning, because we took a long shot here. And, you know, I wasn’t too keen on taking profits. Right. It’s why I saw it calls against this. And now those calls are expired, worthless. And here I. I’m still in my position. Nice. Yeah. The thing, though, was I don’t wanna get too excited just yet because if you go out to the baby, there is a chance of us putting in a putting in this or your as a lawyer. Hi. Oh hi Louhi. And then this does kind of get and I think George always doin this to Georgia from the magazine. She was looking at this as a potential head and shoulders. We may get that right. We may get that. And we did we did kind of have something like this or. You’re right. Vaguely similar price action. Look at this. I do do have. It’s not clear. Head and shoulders. But, hey, this did play out. I do think it might. It’s measured. Move to show your pattern. Queen do. Did you look at this map? No, it was your birthday. You want to focus. We were so focused that entire week on your birthday discussions about week that, hey, he’s seen smile and he is smiling on the outside. But you’re on the inside. He’s like, probably crying right now. Yeah, that was missed. Missed out. Missed out. But yeah. OK. So because like I said, is acting pretty well. We’re here testing the tennis, me closing. All this was on the way here to nine thousand six hundred kilos onto for me. She was like this is gonna look good and this is the way I’m seeing it. If you actually take out the sweet core here, I don’t think this holds onto the ten thousand forty five is gonna beat the resistance. I’ll be looking at I’d be looking at ten thousand three on a nine ten thousand seventy two, to be exact, with you guys. We can go ahead and drop the zone nationally if we want top ten thousand. Well that’s all that’s the wick. Or here is a nice hundred one hundred forty five dollar a week. So yes, we could look at the zonal here. I do think we come and test this year. If you work about here and then dump, that’s going to be bad. If you wick above this region, I’d be expecting contribution. But if we dump off that old man, Pluto, I do think then again, I’d be looking down to 6000 region level squishier. You think? I don’t know. You are having this discussion about 6000 in yesterday’s video as well as in the mango sea chat. And yeah, I mean, it wouldn’t be quite deadly, to say the least. Yeah, to say the least. I’m looking at well, those little seven thousands, if we do have to make a move to the downside. Like I said, it’s about being prepared. Right. Being prepared for if price comes here, then we’re going to do this. It’s just about having all your levels in one good bird’s eye view. And I’ll be personally I will be layering in spot my spot buys. OK. So, yeah, I would you be looking to take a short position at all. If we do break. And where would you be looking to take a short position. I don’t know if I’m looking to take a shot at actually. I just want to be focused on getting my long position in. Because if I prefer, I have this this thing where if I’m focusing on my short and I let my my inner bear tail miss out on long, then I miss out on the long and I feel like there’s any opportunity, at least for me personally. OK, now this is not financial advice. You don’t have to follow it necessarily. But I like kind of separating that, you know, and I feel like that the bigger trade, that chunkier trade to be had in the long term is going to be on the bullish side. So your strategy is buy the dip. That’s a sergeant. Yes, that is my strategy. So right now, we are going to focus on that. We are in a bull market, too. Not yet. Not until those weekly levels are taken out and we start putting in those weekly highs. But no, I want to focus on building a better long term position than I already have. OK, that’s fair. That’s fair. What I hear I’ll be looking to if I if I do get the opportunity, I will be looking to take a short position underneath the 21 Yemi and the Tankan, I, I don’t think I’d want to get it. But ideally, what I what I really want to see is the 21 M in the tank in line up or hill and then we close underneath your test and down. Right. That would be the ideal situation because this is what’s going to happen. I feel I feel like this 21 Emman Tankan is not gonna be the spectre the next time we do come down. This horizontal, on the other hand, might. B, because the quinten to do this, we blow through the upside, not restricting the hose onto, but the next time we come down. Everybody expects to buy it. I’m expecting it to be a major level and instead it blows right through it. Again, tests it as image level now as resistance. Everybody going, what the hell? We broke it here. We broke it here. And now doing resistance. Nobody is going to bite. No. Got shot into it. Okay. And that’s that’s the trade that’s going to end up being the trade right here. So it’s funny you that because even that’s what happened in the last sort of dump, right. When we didn’t break and come all the way down to test. Well, for here again. Exactly. And I mean, it looks so unassuming because Bitcoin has this. Look at this. So you’re so perfect. 10 can keep you on 21. You mean all lined up with or there? I think this one was the reason this one pains me is because this was an easy trap. This was an easy target. I missed that. So you can never gauge the magnitude of the move. No, no, no. Right. That it could lead to a positioning yourself and saying that, OK, you know what? This is a good short and you’re right over there. I mean, that was a beautiful shot. Everything kind of lined up. But the magnitude, you’re sort of just praying and hoping for the magnitude. And I would not have predicted a move like this is Norway. No way. But hey, in hindsight to say, oh, it’s so obvious, koruna, why is liquidity, blah, blah, blah. But Tom, I don’t think out of that this like going all. But when you woke up that morning when he saw three thousand eight hundred, I was so excited to buy. And then Debbie gave us another gift by having a fully organized discount on the SEPs. So, yeah, when you see opportunity and you see that kind of blood on the street, you have to you don’t really well on that. Yeah, I was pretty proud of myself. I’m improving on the mistakes I used to make. So you tend to be afraid, right. You tend to be afraid and not take the trade and then you regret. So what you need to do as a trader when you get those feelings of regret. Remember that. Remember them, because that’s that’s now eastern a card for you. Remember them. Reflect on them right down if you have to. And the next time you feel it, those emotions, recall them, bring them back. Oh, wait a minute. I felt. How many times have we been discussing trade opportunities and a sunny flip flip and these emotions capture these emotions. It reminds me of so-and-so incident. I’m going to take the other side of that. Yeah. Right. How many times have we done that? That’s been helping me a lot. Just like using those bad experiences to your advantage. Down the line. So, like, you know, pocket them pocket about it to us. All right. So, yeah, enough of that to keep this video shot. I do, actually, because I got scared. And the three key level I did. Yeah. I’m going to be very blunt here. I mean, I got I was at the edge of my seat. And remember, I ran to you. And he was in a alone. How did you catch that? What made you do that? So like with no legal advice, this is looking so songgang right over here. Don’t don’t ever get too excited too fast. When we have such a big move to the upside close or the keys, you’ll have a close underneath. But I wasn’t too excited about this gusher. If you do remember, I was going long. You were looking for for the continuation. Why? Because he did not get the open and the close. Right. Did not give the opening close. And now we’re seeing that it’s very unlikely that we close underneath the keys. You’ll see that yet, though, right? Because, I mean, look at we’ll look at what that weekly candle that is that we went all the way up to that. So we still haven’t taken out that previous high of the weekly. Right. So, I mean, I do this is because as it tells me anything, it has a very high thousand eight hundred isn’t too far away, to be honest. And we we’ve been right here, actually, right here. There was a similar situation. Right. And if those of you who haven’t watched the videos that we were doing on this run to the upside and how we were trading it to the upside here. And then again, down to this level, please go and watch. It was a very, very valuable experience in how to put on to trade, how to be patient. Right up until the end of the week. Yeah. Right. It looked like me exiting my trade. Turned out to be a wrong thing because I’d taken along. You saw the bounce throughout but at exited my lawn. Right. Why? Because this candle or here I do want to spend some time on this. This candle here I bought on the Tankan and the 21 Yemi. And it’s 10 on the 21 Yemi. But my thesis was relying on this actually bouncing and getting defended on the 21. I mean, we didn’t get that. So I started exiting my position on the following week while we started going to the upside. And right till the end of the week, this was looking bullish. Guys, this was only a green candidates. And I think it was a green candle. Yeah, right up until the last, what, twelve hours or was it less than twelve hours? I remember this week for this. We got up early. Yeah. And Jesus. So I was like I was even telling guys I might have been but I might have been trapped. Right. I may have been trapped out of my trade. And it is what it is. It’s about sticking to your rules and sticking to your thesis. If invalidated, you had a thesis and doesn’t come true. Just get out and hit. Sometimes you’re gonna get trapped out of your trade. I’m gonna show you guys an example of, um, on gee, where I got to exit my train. 40 percent right after. But that’s gonna happen someplace. But you still stick with your rules. Yeah. And look at what happens right after I draw on the lost last hours of the week. Dumped. And then next week. Boom. Right. Imagine Zain being stuck in a trade or way here and the week doesn’t give. All this happened so fast. People look at this Kandal years as a one week. But this was actually just always leading into this week. Yeah. So this was more like all happening in one week. This was all one week’s price action. 40 percent up. Right. So. Yeah. So now, Cacher. Yeah, you’re right. We may end up closing under the when I don’t get too cocky. There are three possibilities here really. So Price the weekly either closed in, closes inside the cloud. OK, that’s one. Now if we do that, where do you think we’re going. Well, nine times close a week in nine point six. Hundreds of kilos for me. Right. So we close to be close above nine out of 600. I’m going to be staying in my trend rate for sure. Close. And underneath. You’re not. I’m not. I don’t. It’s not enough for me to get out of my position. But the reason I’ll be staying busy for sure, a nine or 600. Because even on the low timeframes is key. Do we get all the way to the top of the cloud? I don’t want to I, I don’t think the cloud. OK. That’s what I don’t want to go through the cloud. I really think we’re going to go through. If we get to the top of the line, I think I’m gonna go through. I really think so. I don’t know if we’re going to go through. I think and I’m kind of the guy. If we do close inside, I’ll be gunning for eleven point seven. I’ll be waiting to see what price does. Eleven thousand seven hundred. Yeah. Around that range of the action. I’m sorry. The top of the cloud basically. I don’t know. I’ve got it. So if you think about the top of the cloud over here is eleven thousand three hundred eleven thousand three hundred ten thousand seven hundred at the top of this area. Right. But if you close next to gets ten thousand seven hundred. But I. What’s this. There’s nothing stopping us from going to eleven point five. No, not you. You may be as a team and not do anything. What about what about if the price closes between the cloud and the keys. You on occasion. Then I think we may do what Tom. I think Hachi. Or is it. We shall talked about this in Mango Grove. Just going sideways or here with me. I should do that. And then do something about it. This it. And this is with weeks of price action just going sideways. So if we close below the occasion then the tankan. Yeah. Yeah. So that’s where I’m at at seven thousand one fifty three. But this would be my target. She’s sticking to that either. I’m either going for the moon or going for hell. Right. Yeah. 200 YEMI on them. Yemane Yeah. Let’s put that on. All right. Five thousand. Can you. To be exact. Six thousand. Who I’ve been calling 6k. There you go. Two under the Yemi. So. OK. Now if this then that if this trend that I’m. I’m ready. I have my plan. So we’ll we’ll just wait. Okay. So that’s a bitcoin guys. Let’s go out and look at chain link. Link, link, link. We saw a link BTC again. Of course. Look at the Binaca Shahtoosh. Click on this, actually. OK. So as you know, I’m out of my Lync trade. I got out because of the daily tennis when you close underneath. Let me just hide all of this. We’ll be looking kindly, Sabinas. I think we’re looking at Coinbase, Solice, Coinbase. I think Bynum’s really has better history now, but I’m in charge. Shorten it on. Oh, well, listen, thank you to my bad finance. OK. A link you as devia looking at Conaway’s on this. OK. So I got all your tennis samey. Right. And it does look like we’ve come and test that level. It’s taking Samten load. OK. So then we got Reclose on the Tasman. That’s what I’ve got on my trade. I was looking for this to hold over here and also put in a higher low and then possibly put in a high high for do not get that as soon as we lost that. The higher law may be may be coming somewhere on Teil, but it’s all looking like that to me right now. In fact, rejection of the tennis. I mean I do like to see that, not because I’m an outrage to the downside, but does show me that my lead on the market, because I got out of the 10 out of the tennis week, has been overly in conjunction with the major market players. So I cos you can see this retest of the tennis ring got sold into one right after the close up underneath the tennis me. We saw the follow through to the downside and to the retests was rejected. So, OK, cool. I’ve a good read. This is looking like it may want to come and test at the very least. Thirty seven thousand six hundred eighteen Satoshi. OK, so breaking this down or you’re not going to be a good look. I think we come and test this level here. This cluster here, it’s one of the major, major weeklies that will push up. I wanted to see you how price reacted off that two hundred simple moving average that you had on an on your previous on the daily. Yes, because we do have that 200 moving average running. Right through. Right. And no, it’s been pretty short on it. I wouldn’t say it’s been a good guide. Right. It’s been a good guy again, guys. I do recommend you guys watch my video on moving averages and exponential moving. I was just people don’t fully understand how to properly use them. I wouldn’t say this has been shit at all. You’ve gotten good trades often. Yes. They’ve not been clear support and resistance trades, but that’s not necessarily how you need to use it. You can see that here. Yes, we lost it all here. This could have been a trap accumulation and we retook it. And look at the angle of the torn moving average as long as the angle has been up to towards the upside. And this has been trending. The upside link has been trending to the upside. So you can keep an eye on this. And as soon as we start kind of seeing this layer towards the downside, that may be one way to say, you know what? Maybe Link is beginning to lose its overall longer term trend. So I wouldn’t say it’s completely used as you’re using it as a guide for overall market direction. OK. Right. I was looking at in terms of subalterns using it as a level to take your trades offer. Yeah. So that’s one way to use it. And that’s completely fair. That’s how I use 21, Yemi. Right. And the tennis, et cetera. But you can also use these as a guide. Right. We shouldn’t just dismiss them. So that’s the daily on Chumlee BDC. Should we talk about it as an on match? You guys are on the weekly action. Oh yes. I was on the overall diagonal that no action on the dog might want to look at this horizontal. This area will I’d be me come down and test this regional here. If we do start taking on this week at thirty six thousand eight hundred nine, that notion this was that cluster that I was talking about on The Daily Show, I try to work here. So thing chairman can can come down a lot. That’s a good eleven percent more to the downside. So it will be really bullish to me medially Bush, me and I’d be looking to buy off that as we come down your test to say, oh, here on Wyk, above the straight line, that’s going to be very, very interesting to me. So if we do that, I’m going to be a buyer almost instantly, as many bullish. And I’d be looking for for the contribution to the upside to Sunline has been really, really good. So that’s shingling BDC We can go out and look at chainlink USD. Quickly. And Chenega, as he guides, has really been doing nothing, just going sideways while it’s losing Bitcoin value. We are waiting for this to pick a direction once it does. That’s when we’ll be like, OK, we can take a trade long and link BTC, but perhaps on link you as the member what we’re looking for, for Link to make a decision independent of Bitcoin. For now, it’s just been going sideways. If we do start losing this horizontal all year round three dollars and fifty cents, I do reckon we come down and test the kitchen as well as doing a moving average sitting on two dollars and 90 cents. We do have weekly support at two dollars and 60 cents. We lose that again, the same cluster we hear that we’re likely to test. But right now, a direction is sweeping towards the upside. We have a lot of room to move. We could be moving something like 20 percent. That’s some nice moves to be had. But again, on that same regard, right. You can have a nice three percent move towards the downside, too. So you have to be very careful. When I sat looking at my trades, what has helped me is to force started how much I can stand to lose if this goes the wrong direction in a mode of compression, in a zone of compression like this. It’s got to pick a direction. I do. I really want to sit in it in it while it could go either way. This is a 50/50 trade right now. Just looking at the link you see chart. I don’t want to be in this how I’d rather pick a direction, a clear direction that is independent of Bitcoin and then get another trade. Right. You can make money on both sides. So 10 percent either direction. Just wait. Be patient and take the trade. That is my opinion. I agree. And I don’t and I don’t mean to say, hey, be a brick. I’ll trade on you often get a break and then retest something of that and then downside. And Link, like we’ve observed, is very, very generous. It is on those very to be the retest and for the continuation to whichever side in broken to begin with. And those tend to be you. So that’s the guys for me, at least Kushan. Any thoughts? Closing thoughts. I know nothing. You’ve covered everything. That coin chain link for all the fans and. Yeah. All right. So but looking good. And if he goes by this horizontal moon, it won’t take a shot. I thought you were looking for 7000. Okay. So, man, I’m actually I’m actually tied in tomorrow’s video chow doing the mango. Did the sassy weather guys.

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