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Bitcoin MUST ACT NOW (Before it’s too late)

VIDEO TRANSCRIPT

A bit of a sell off of the Bitcoin managed to hit the resistance level at roughly six thousand six hundred six thousand five hundred dollars. Since then we ended up trading sideways a little bit and we did have the setup to continue trading higher ground. Fortunately, Bitcoin instead took that relative area of resistance to heart and we’ve ended up dropping a little bit lower. The good news is that this is in line with the rest of the market. You can see a lot of red across the board. The only green we have is in gold and a couple shit coins. So this is where the markets have been going today. Just a lot of money flowing out of those kinds of assets and into the dollar, into gold. Various different things like that. And that’s good news because it means that Bitcoin didn’t dump a loan. If it dumped a loan, then that might have indicated that there’s something specifically wrong with bitcoin. There are many things specifically wrong with Bitcoin, but fortunately in this case, those didn’t matter. And this is just a wider kind of market flush out. And I think that is a good sign. So it’s it’s tricky because this dump, you know, this is the second beautiful setup that Bitcoin has had to trade much higher. I told you about the one before where we ended up breaking out of that rising wedge where we initially chose the bearish direction and then we ended up trading higher anyway. We had a beautiful chance for bitcoin to continue to trade higher, but it didn’t take it. And this is just example number 2, which is heartbreaking. It kind of makes things look a little bit bearish because while our current structure, our short term structure might not look so bearish, it might actually look a little bit more bullish in our short term trend. The long term trend. If we zoom out just a little bit more is definitely much more negative. And so when you’re starting to see small signs of bearish activity and you’ve got a massive warning of bearish activity continuing just because of what the long term trend is, that is going to make me polarized and biased towards the bears. Now, a lot of people will often say trading shouldn’t involve bias. And my response to that is bullshit. The only thing you do as a trader is trade on bias. You either long or short, it’s hot or cold off and on. These are polar opposites and you have to be biased in order to make money. And my bias is definitely towards the short side right now because of this massive dump. Something else really important to to point out, people will feel like they have an extra edge on you because they’re a smartarse contrarian who can think opposite to you and say that, well, actually, since everyone is going Shaws that everyone is bearish, I’m going to start going long and I’m going to be bullish. And they think that they’re on some higher tier of intelligence like that. But that’s also false because when you get massive dumps like this, I’m sorry to say, mate, but when you’ve got a dump like that, that’s because everyone in their bloody none. thinks that the market is going to dump. Right. That’s where you’ve got a lot of fear in the market. A better example is when we dumped from six thousand dollars when we had this dump. No one really thought that bitcoin was going to stop at a couple people did actually mainly the famous people, which was really concerning, thought that we would stop around the $5000 range. But most people with actual brains would have understood that yes, bitcoin failed the six thousand dollar level. Everyone was going to run out of support. Everyone was gonna turn very fearful. And so when you’ve got a circumstance where everyone thinks the market is going to crash, the market bloody crashes. That’s what happens. Everyone is selling. So the only thing that can happen is that the price ends up going down. There’s too much supply and not enough demand. So that’s what happens when there’s too much bearish pressure on an asset. And that’s exactly why I think that we still have an overarching bearish setup for the market. We still have that very discusting long term trend. This rising wage that I’ve been pointing out to you guys, we’re still there. We’re still and we’re actually right on the cusp of it now, depending on how you Joy. Let’s get a little bit more accurate. We’re gonna switch this over to a clean chart where I haven’t drawn anything yet, which happens to be at the Jemini chart, as it always is lately. And we are right on the edge of that support level. This is not a beautiful line because I previously drew the line connecting these two points and it looks something a little bit like this. So I’m already having to redraw the line and that’s why I typically don’t use diagonal lines like this. I don’t think they’re very reliable. You don’t see me use them in many videos, but in this case it’s important because it helps us visualize what a relative, you know, ascending channel would look like. You know, I can actually draw that for you with the channel tool, the parallel channel tool, something a little bit like this. And just relatively speaking, the overall trend is first down, then diagonally upwards and then potentially continuing on lower. So really, really important to point out there where we are, we are definitely hovering towards that that lower end of this range now. And that has to be something which is at least. Slightly concerning because, of course, what it means is when you have got a trend with so much power towards the bears, it is entirely possible that things take another very deep dive. And obviously that would mean potentially, unfortunately, re-entering the $3000 range. If you think that Bitcoin long term speaking is going to end up going way higher than that is going to be an absolutely beautiful place to enter. So it might not be so unfortunate, but let’s be honest, it definitely gets a little bit less fun when the price drops lower. What else have we got? Well, we’ve got that head and shoulders pattern that I was talking to you guys about in the last video. Now, as I said, I don’t like head and shoulders patterns, but I’ll take anything that’s bearish in this market right now because the overall market looks absolutely disgusting. And so this isn’t a very strong pattern, but the fact that it’s showing itself within a bearish trend, as we can see from there, the fact that it is showing itself in this situation makes me more inclined to pay attention to it. And as for flies prophesized, we are starting to see that head and shoulders complete. We’re basically now forming the end of the right shoulder. And the only issue with this is we haven’t had any volume here. So if we end up getting some volume on a dump, that would make me think we’re going way, way lower. That really sets the market up for some quite bearish price action. You have to you know, we have to bear in mind what has happened here. It doesn’t look like much has happened. And so initially, if you don’t if you look at this chart, you might be scratching your head wondering what’s going on. Let’s look at the facts. The facts are very clear. We hit resistance three times. One, two, three. Relatively speaking, we could count these as more hits and we might not count this one at all. But relatively speaking, we’ve hit resistance thrice and we haven’t been able to break it. The last two times where we hit resistance, we had a really bullish setups for the market to continue trading higher and it didn’t take it. What happened there? The bulls had a window of opportunity. They didn’t take it. So the bears down well, stepped in and took back control of the market. And we already know in the long term they have control of the market. Right. And I mean, long, long term, they have had control of the market. So, you know, that coincides with what happens when we zoom out a little bit more in line with that. We’re getting some potential bearish patterns with the head and shoulders pattern. We’re also getting that beautiful rising wage, which is one of the most typical signs that the market will continue trending lower again, especially when you are in such a big uptrend. It’s just so typical that this would happen. A beautiful example of that. Something like over here, another one over here. These are much bigger rising wages. And this one might not even look like one, but the same principle held. You know, we were in a downtrend and then the price traded higher over a period of time. In this case, a very short period of time. But over a period of time, nonetheless. And then we ended up continuing that trend. Once again, we formed another rising wage. Over a period of time, we ended up trading higher and then the trend continued trading lower. So very, very important things to point out and that does give us a bearish setup. But it’s not all bad news. We actually do have a potentially very good setup in the market and it is to do with the fibonacci’s. Before I get onto that, though, let’s take a look at what’s been happening with the four hour ichi Moku cloud. Today we have had yet another full rejection out of this cloud. This is something I was talking to you guys about. We did get a fairly you know, we can call a confirm breakout. This traded a couple percentage points above the resistance cloud, but nonetheless, we did end up falling back into it. And one of the things I mentioned is if we do fall back into the cloud, it could end up being like a kind of gravity device that would just pull us lower. And that’s exactly what happened. We ended up trading outside of the cloud on the bottom end. And once again, we’ve achieved the same nasty fate today. We’ve ended up falling out of the cloud. The good news starts now, though, because we do have that for our cloud turning into support on second of April, which is just tomorrow. Now, I have to say, if you don’t know what the Ichi Moku Cloud is, then type this into YouTube for flies. Ichi Moku, just like that, type this into YouTube and you will see my full tutorial on this indicator. Really, really great content there. And and so this is potentially forecasting that if we can manage to get a bit of a pump over the next day, over the next couple of days, we could be ready to see some nice support. And this is important because we’re seeing a beautiful cloud of support forming on the four hour chart after we’ve already had volatility in the market. So one thing that’s really important from this is that we know that this Ichi Moku cloud is going to be relevant. There are certain times where it’s not relevant, right. Where you’re not really trading at all. You’re just kind of going sideways. And so it stops being useful. The best example of it is over here and over here and potentially over here as well, because when all of these clouds formed, Bitcoin wasn’t doing anything. Bitcoin was just trading sideways. So this indicator is not useful when you don’t have volatility. It’s the same for most indicators. In this case, we do have volatility. And so we know that this might be reliable and that gives us a potentially beautiful chance to continue on the higher switch on to the one hour chart. And fortunately, we’re not seeing a really nice cloud over there. And that is because we’ve just not been trading much over the one hour chart. So we have seen this one hour each Moku Cloud lose a lot of its strength pretty much after this point. All of this is why the cloud stopped being so useful. What’s good about the support on the 4 hour chart, though, is that it lines up with something really, really good. It lines up with a horizontal area of support that we do potentially have in the market. Now, this can go from anywhere between 50, 700 up to 50, 800, potentially even fifty nine hundred. But I’m going to draw this at fifty 800 just because it is sort of a happy medium. And more importantly, we’ve already bounced off this level once, twice and three times. So once, twice and thrice there. That’s beautiful. English language is of course very confusing and we do have this interesting level of potentially even macro support lining up with an indicator that we know is likely to be reliable in the market, and that is significant. So if Bitcoin over the next couple of days is able to hold its ground over here into the weekend, if it can trade sideways throughout Wednesday, it’s a story throughout Thursday and Friday and going into the weekend, which would be the third right or the fourth of April, something like that, we will be looking at a potentially bullish set up for that weekend of price action. And, you know, weekends are where things might end up happening that are significant, aren’t even know if this was the weekend. Maybe it was some of this price action. But the weekends are where you start to get some of the weird price action. And if we are talking about a potential reversal, which is something that would be completely trend changing. Well, that’s the kind of bullshit that you come to expect when you’re a bitcoin trader. So it’s not great. It’s not a very technical way to do analysis. But nonetheless, I have to point it out because it works. I don’t like using this tool, but as an analyst, that’s not really my job to get emotions involved in it. If I don’t like it and it makes me money, I’m gonna use it anyway. That’s just my job as a trader. I’ve got to be using all the tools I have available to myself, of course. That’s one of the best benefits of being in the VIP group because you can see how I’m using all of the information that I’m sharing with you in these videos, plus a whole lot more just in the analysis that I share with V.I.P.s. And you can see how that manifests into the form of trades. Beautiful short position that I took out on Bitcoin, closing a 58 percent profit. Keep him VIP members updated in real time with everything I’m seeing on my trades. I don’t trade very often because I don’t like to be looking for my thrills in in trading. I like to be getting my highs and thrills from real life. Although granted with the quarantine lifestyle, there’s not much of that either anymore. But it is definitely the smart thing to do to approach this game with a mindset of, you know, I don’t need to make 100 trades a day. So I don’t trade very often, only a couple times a week usually. And VIP is we’re able to see how I deploy those key trades that I make throughout the month at the times where I think it’s really useful where those stars align, which is the explanation for my trade to make me feel ready to trade. And then exactly what numbers I’m using, what entry’s I’m using, what targets I’ll be using, and then depending on what the situation calls for, I might even, for example, be dropping a voice message to specifically explain why I chose a very specific entry point, why I chose a very specific Stop-Loss or why I changed my game plan. I usually do lay out what my game plan looks like before I end to retreat. So this these details I shared were posted about one day before my trade even opened. I already told you some of the things I’d be expecting to do with my Stop-Loss and my profit taking areas, but I changed that on the fly and you get the explanations of why I’m doing that. So you can see how again, I’m using the very same data that you are looking at to potentially pull some really nice profits. A beautiful set of messages here from a member is continue to show me another screenshot of I think like six more beautiful profits that he has been pulling in the market previous 48 hours. He made all of these profits in 48 hours from 10 percent up to 77 percent. All thanks to four motherfucking flies. Absolutely. Love this once again. This is the member who was very hesitant to join at first, but ended up paying off the fee for joining the group plus 200 percent profit on his initial investment. Very, very happy to be in. The group has learnt more in 2 weeks in the group than he did in 31 years. That’s 2 weeks to pay off the fee and make a whole lot of money on top of that. And it wasn’t even working with a massive bankroll. And that’s the key thing here. You know, we have had people joining the group with very small amounts of bitcoin, whether it was, you know, point zero five or even, you know, all the way up to ten or a hundred bitcoins. You know, it really doesn’t matter because everything works in percentages, as you can see. You know, this is just as impressive on holdings of, say, point 1 BTC as it would be on holdings of 11 BTC or 1000 BTC. These are just as impressive. And that’s the key thing here. You’re seeing how. Doesn’t really matter what your bankroll sizes. You need to be trading correctly. And that’s something which is really important in the game of trading. It’s especially different to things like poker. For example, where in poker, when you’re playing the game, you will experience a harder difficulty of poker. The higher you go in the stakes, you know, when things get harder, when there’s more money on the table. Well, that’s where you have to level up your game. But it’s not the same in trading. In trading, when you jump into this game, you are thrown right in the deep end. And same deepened this misleading because there’s no shallow end. It’s all the same. Everyone’s playing it exactly the same difficulty. And that’s what makes this game so bloody difficult to play and profit from. But if you know what you’re doing and if you’re following a system and if you’re seeing how other people are able to develop their systems after they’ve made all the fuckups, after they’ve gone through all of those stresses, it can be very, very productive. And as we can see over here, beautiful results being pulled by members who are able to take that risk, take that leap. At the end of the day, trading is risk. Trading is where you’re taking a leap on yourself, a leap of faith on yourself. And members who’ve done that by joining the group, pulling really, really nice profits in cases like this. So if you want to get into the group, head up the first link in the description down below. Click on the artful flys button at the bottom of any post in full flight goal. This is a free telegram channel. There’s no sign up process. It will take you like 5 seconds to get in. Click on send message and ask me how to join v._i._p. We’ll give you all of the information, the price and the benefits. Everything you need to know to make your decision. Absolutely beautiful stuff there. Moving back to the charts, we have something which which is almost a disgusting coincidence that happened with this week over here. So this week was one or two days ago. So, yeah, the close of March 30th and. What we had was if we take a look at bitcoin on the CMU futures trading, I always forget how to find this. Let’s go over here and we’ll take this chart. What we actually had was on the one hour we had a massive gap form over here. This is where Bitcoin had its big dump on the twenty ninth of March. I’m terrible with dates and various different things like that, but I think this was a weekend. And so this is why there wouldn’t have been much trading. And then yet this was a weekend because the clothes or the clothes was on the twenty seventh. The open was on the twenty ninth. So full flights did prophesised once again that bitcoin could end up dumping on the weekend if we ended up trading sideways into it because again that’s just where the weird stuff happens. So it did leave this massive gap and people are always very quick to say that well if bitcoin didn’t manage to. Sorry. If Bitcoin managed to form a gap on the CMC trading platform, then it’s probably going to rise up to fill that gap. That’s what people always say. I think we have a gap around 3000 mosharraf. We closed that and another gap, maybe around 8000. So this is all arbitrary and for the most part I would label it bullshit. But in this case, because it’s so perfect with this week, what ended up happening is that the price ended up going up to fill this entire gap. Everything that that bitcoin did and trade within it ended up trading within to fill this gap. And the reason I’m bringing this up is it’s almost like a guy having a one night stand. He ends up pulling up the club. He gets exactly what he wants. And when he’s got it, he walks away. And that’s what Bitcoin did over here. It needed one thing in particular. It only needed one thing. Its drug, its CMC Gap being filled. When it got that fix, when it got that release. Bitcoin ended up trading lower again. So that means it only traded higher to get what it wanted, which in this case was to fill that gap. And now that it’s fulfilled that purpose, it’s ready to do what it initially wanted to do, which, you know, we can see very clearly, clearly if we end up, you know, expanding the timeframe to be a little bit higher. We can see a beautiful gap over here, really, really big gap around the eight thousand dollar range. So that’s why you do have a lot of people saying that we could end up filling that gap. But this kind of gaps, they happen everywhere. So I’m not I’m not so convinced that just because we have a gap over here, it’s got to be filled. I mean, we can. Yeah. There’s this probably I’m guessing this is a gap as well, because we didn’t fill this anywhere. No one’s really talking about it. You know, so it is quite arbitrary if you are holding your breath saying that this gap is gonna be filled at some point in the future. And, you know, because of that you bought at this level or you bought at this level or you bought at this level, no matter what you did, you’d be in a bloody loss. And so trading based off that or making any kind of decisions based off just gaps in the market is is just it’s unskillful. And that’s the reason it’s popular. You know, it doesn’t take any skill to point out that there’s a gap. It’s like pointing at an airplane in the sky when you’re next to an airport. Obviously you’re going to see them. Not really a surprise. There’s not much you can do with that information. But again, in this case, because this gap is so close to us and because it holds some psychological some, I have to emphasize the word, it holds some psychological bearing on the market. It’s worth bringing up, especially because the overall trend is bearish. So I think that could be one of the factors that enables the trend to continue trading lower. So what does that mean, bringing everything together from this video? Well, it’s very clear that we’re failing our bullish setups. It’s very clear that we do have some opportunity for support around the five thousand eight hundred dollar level. We do have it lining up with our four hour Ichi Moku cloud of support. So while it looks like we are going to end up dumping a little bit lower in for Fliess opinion, don’t be a bloody idiot. Read the disclaimer. While it looks like we could end up trading a little bit lower, we do have a bit of support below us. But everything is so fragile right now because of that longer term trend. This longer term trend is so bearish that I have to ground myself in it every time that I start getting excited with the bullish arguments. It is no surprise. Ladies and gents, it is no surprise that we ended up getting rejected at three relative areas of resistance at the same relative area resistance three times because we have such a bearish trend. That’s the kind of energy that a bearish trend will bring, a bearish trend. My bat kind of bucked and spoke at the same time. A parish trend will potentially have a really big dead cat bounce, his really big rising wages, which in this case ended up having bitcoin rise by 80 percent on this chart. It will breed those kinds of recoveries, those kinds of. Relief rallies. But it will also mean that at every stage of the way, there will be coughing and weakness and paranoia and doubt. That’s exactly what we’re seeing. It’s just continuously failing. So even though it did manage to break up by 80 percent, are you seeing the strength of an 80 percent positive bull market? Hell, no. Hell, no, you’re not. Because if we were, we would have broken it on the second attempt, at the very least, on the third attempt. But both of those things didn’t happen. And those are potentially early warning signs of weakness. This really is where one person will look at a chart and have no idea what’s going on. But when you’ve got a trained eye and you’ve seen this stuff happen a million times and you’ve read some t.a books and you’ve potentially taken up a cause or you’ve made the absolutely beautiful decision to join full VIP, these kind of things will jump out to you and you can immediately tell where it might look like nothing is going on. There’s actually so much that you can read into that chart. That’s gonna be meat for today. My final note for the end of this video is go show someone some love, whether that’s a partner, kids, mom, dad, neighbor, dog, whatever. Go spread a little bit of love. It can be literally anything, a text or a hug or whatever. It will make someone happy. All right, guys, take it easy, boy.

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