Bitcoin Update
If you saw the market update video, you should have caught a BTC or ZEC short. Next steps:
1. After two months of consolidation, price finally reclaimed the 2024 Summer Range Key S/R Zone ($71k–$76k), confirming the level with a clean retest before pushing higher.
2. However, this move up has come on declining volume with significant resistance overhead. As discussed in last week's market update, the key test was whether price could push toward $86k heading into the weekend. It couldn't and we've since rolled over.
Price is now pulling back toward the lower S/R zone, which needs to hold. Losing it opens the door to a much deeper correction.
3. Two setups I'm watching:
• If we fail to hold and lose lower timeframe structure, I'd be looking for continuation shorts on a retest of the $75k range low.
• If we see a bounce and another push toward the highs, there's still a valid short setup around the $86k region, significant resistance remains overhead.
Will make a new Telegram Group for new traders who specifically want to learn crypto during the bear market.
I find it stupid that people have left when they should be accumulating and learning and be more interested.
When crypto comes back in the news, all these 'trend' people will come back.
Those who stayed, deserve to be rewarded.
How to determine if you're a disciplined trader.
If you want to buy a coin and know it'll go up, but you want to buy it at a certain level.
Suddenly the coin pumps from nowhere and you've no time to place orders. It keeps pumping and breaking out of your pattern.
Do you wait for a pullback to a previous resistance level or do you market buy it?
1. I reduced the number of price updates because instead of bombarding you with 100 updates a day, I'll share my target and ask you to sit comfortably till target is reached.
2. Last Update asked you to relax till our target of 78K is reached. Target reached. Those who listened to my low IQ take, won.
Attention. Read till end.
Scammers are messaging people to Join Emperor Investment program or some Paid Group.
I don't run any investment program as I have enough capital to invest and I don't sell any paid group because of I need money, I'll just ask my Mom.
P. S. I'll make a different free telegram group for new traders to learn trading from beginning in a week and share trades.
Bitcoin Price Update 🚨
1. In the middle of March we had the SFP of the high which SFP'd the range highs, creating a three drive pattern (a pattern which has been repeating since we made ATH / topped at $125k).
2. We then had confirmation with a shift and underside retest of the range high (This is where we entered short for those of you who watch the market update videos).
3. At this stage, the only real trouble zone and last line of defence before a run to range lows was $65k / the midrange point which has consistently held throughout this consolidation.
4. Since bouncing from $65k, we've pushed up with momentum back above range highs, with a bullish retest of range highs on the lower timeframes.
We're now looking at the next logical area to look to enter a trade or potential reversal - which for me would be around March highs, or slightly above at the nPOC + Febuary highs where a volume imbalnce also resides.
Until price reaches on of them two zones I'm happy to sit on my hands and wait.
A more indepth market update video will be released later on this week!
Bitcoin Play Book for people who have no Patience.
If you're still here, you literally need to understand that it's a blessing. When 99% have left after losses or due to boredom.
You hear oil supply is dead? Plan to buy more Bitcoin.
You hear WW3 is here? Work hard on your trading.
War is going to to stop? Plan to buy more.
War to continue? Buy more.
Some scammer scammed? More Scams = People are still greedy =Trade harder.
Just keep doing it. There's nothing new. Bitcoin won't die, those who don't stack it, will.
Opinion. You literally have no idea how good of a news it is if BTC is at 70K under a threat of the world oil supply choking.
1. We have survived the worst and have priced in for the worst. This is most important.
2. Bitcoin did dump a lot but has been resilient and we literally are seeing whales and some individuals buying large quantities (Most doing it via shell companies).
3. This literally means there's ample belief in long term survival. I don't think it can get worse (With a 3 year horizon) and it's a good price to accumulate for all patient money.
Real talk. Getting too many DMs from people who want to start trading or are tired of gambling and want to start structured trading.
1. I wrote an article on how to start trading part time, read it, it will give you the mindset and make you judge yourself if you can actually do it.
2. Will then publish a you tube video, explaining all the tools you need to master to become a small profitable trader.
P.S. It will be a minimum of 6-9 months journey, nothing is easy here. You can do it but you may choose to do something else too.
Who is in?
3 things you need to know for the next 2 years in Crypto.
1. It takes 3 cycles to make it. One to learn and lose, other to preserve, third to hit it.
2. Point 1 won't happen automatically, it'll only happen if you connect, don't chase pumps and don't repeat mistakes.
3. You won't make it in 1 trade. It takes a 1000 small ones.
Did we share the exact trade setup to Short Bitcoin ? Yes.
Did I make as much money as I wanted to? Maybe.
But did all of you follow my trade? No because the retail always wants prices to Pump and who's going to spend 10 minutes to understand a trade.
Lesson - Please watch the youtube price updates, always.
How to be a noob and a forever poor way of wasting your brain cells is to think deep in the conspiracy of why Bitcoin dumped.
I would beg you to get this printed in your Head.
First they Blamed Binance, then Wintermute, then some stupid trader in Hong Kong and Now Jane street.
I remember in 2018, they were blaming the chinese new year for it.
Does manipulation exist? Yes. Do traders trap traders? Yes. Are some trading houses evil, even you'll be when you have that Power.
Bitcoin dropped because it went up by 700% in a short time and made multiple All time highs and was also pushed by covid printing.
Bitcoin dropped because people took profits, influencers shilled garbage and bitcoin always drops 50-80% in all cycles. Look at the chart.
So get better at trading, learning more. You will get trapped, learn to survive it and you're here to make money, not to read a mystery novel about it to fall into conspiracy.
Yes manipulation is real and FTX sold paper bitcoins, but what's more real is the shortness of your life, don't waste it on conspiracy but make money, retire.
Let me tell you a secret they don't want you to know.
In the era of artificial intelligence, you will see tens of new Twitter accounts popping up, buying fake likes, and claiming they are geniuses who can call the top and the bottom.
Then they sell you a trading course. Protect yourself from this trap. Share to warn your less intelligent friends.
Should you Buy Solana and Ethereum here?
I am realising a video on youtube in 90 minutes. Go watch it and learn.
We cover.
1. Auction Market Theory: The nature of markets and how to identify when a market is moving for an expansion / impulse into a consolidation / range
2. Reviewing our scalp short trade and how to manage such position
3. My thought's on Solana & Ethereum: What levels am I value buying at?
If you watched the last Bitcoin Price Update.
You must have seen our short trade from 69K.
Yes I expected a Dump.
Did people like it? No.
It makes people believe I want the price to Dump.
I simply trade the Chart and use the volatility, to trade up or down. Then use this profit to accumulate more Bitcoin.
Started taking profits slowly and will sell the final target at 60K if we get there.
Congrats to everyone who watched my Bitcoin Price Update Video and took the short entry with me.
Lesson - Please watch the video. It's better than anything you can pay for.
I have two things to tell you.
1. This is my 3rd cycle and all of these Dips on Bluechips will look like a huge opportunity in the hindsight. So if you have the patience and a capital, keep spot buying Bitcoin and SOL from 40K to 60K Levels for the long run.
2. I know all of you consider yourself as great scalpers but you're not so just stick to point 1.
The market has never been more confusing for the new traders.
US adds 130K Jobs this month. So it's Bullish.
But 17K deducted from the Previous Data. So it's bearish.
But wages have increased by 3.7% so it's Bullish.
But this will increase inflation so FED will keep loans expensive, so that's Bearish.
Private sector is adding jobs more than expected but new Jobs posted is at all time low since 2020. So that's bullish and bearish.
In short, trade the charts, ignore the news.
