$BTC Where is the bottom??? 5/24/22
big traffic chats and you my friends may 24 2022 every day is a gift have some fun with it alright alright friends i want to say a heartfelt thank you i really appreciate each every one of you for taking a little bit of time out of your day life is short we try to enjoy uh what time we have please let me know if you can hear me okay i'm big chad um folks let me know where you are in the world i'd love to to reach out and connect with you and kind of get a sense of um you know where you are we're all sharing this this love this passion of crypto passion of trading and that's why we're here uh you most likely follow me because i'm on twitter at big chats that's probably where you've seen me from of course i am on youtube at sheds trading that's what this is this is uh going to go under the playlist uh quick market updates i don't do these that often um i do not do these that often and there's a pretty good reason for that i think there's a pretty good reason for that and that is because i am a founding analyst at bitcoin live and i'm just messing with my screens here i'm a founding analyst at bitcoin live it's the best in class educational platform for crypto and i do twice a week full market updates there answer questions get to kind of teach students um and i'm really enjoying doing that i've been doing that for four years if i'm on vacation i'm sick i i will not miss an update it's really important to me and that practice has helped me grow um and become a good teacher and a good trader i don't have my screen up so there it is there's my twitter and that big chats there is the youtube i mentioned the fact that this video is going to go under quick market updates you're going to want to check that out um so like if you're brand new go to the tutorials right the tutorial playlist educational live streams that's going to help you out a lot that's gonna get you on to understand you know what my setup is moving averages bollinger bands how to interpret volume check that out um i am of course the author of trading wisdom 50 lessons every trader should know right you've got the four formats on amazon if you don't want to pay for it i got a free version on my youtube channel chet's trading check that out i also mentioned and i'll show you as well i am a founding analyst at bitcoin lives incredibly proud of that i talked about that earlier but i do that twice a week that's why you really don't see me doing these quick market updates uh that often the last one was three weeks ago so um let me know where you're from we've got athens greece in the house serbia uh serbia which is great sounds like you you can hear me okay wisconsin what's up wisconsin uh phoenix out in boston jonathan pakistan pakistan and sydney australia canada right we're all just hanging out right we're coming together because we're into crypto what i do is i am a i'm kind of i try to be a no bs guy i try to be really kind of educational and i'm all about price action and you know when i started trading i made so many mistakes and i lost a lot of money over the years and so you know the book is like the book and what i do on twitter is me trying to teach you from my experience it's not theoretical like when i tell you don't do this it's because i've done it and i've made the mistakes like a hundred times so um i'm speaking from the heart on that but we're all doing this together we're all trading we're all trying to make some money have some fun and um it helps to practice it helps to practice it helps to practice and helps to practice kind of what this is you know on these these videos if you're if you're kind of unsure like i'm telling you go watch my youtube videos go watch these quick market updates and you know you can see the technique works uh if you look if you look at like at any of these videos especially all year look at what i said and look what happened next it hasn't really been a mystery like i'm not you know nobody if you watch these videos you follow me you shouldn't really be surprised where we are you understand we're in a bearish channel you understand we're consolidating you understand basically price versus moving averages we'll kind of get into that a little bit more like what is the state of the market but you know it's been pretty clean bitcoins traded pretty clean it gave us really good warning signs at the top we got out at the top you know there were some playable bounces you had major warning signs in the in the breakdown here especially the ma200 underside underside and losing this horizontal um i don't need to do that like i've done that in all these other videos right i clearly thank you i i appreciate it brother i see that thank you um i've done that in all these other videos so i'm just going to catch up on some of my tweets since the last video but just as a basic sense like this is still obviously weak um and we have this nice candle it's the kind of candle you're looking for for a short-term bottoming of with volume and volatility and over-extension i mean look and look at the how deep below that lower bollinger we dipped you know when people say you're due for a bounce this is the kind of situation where i get it and i can kind of sign get on board with that but the whole like oh we're due for a bounce because you know six weeks seven weeks in a row no that's just kind of nonsense you're never you're not owed anything um rsi oversold means bearish right i'd rather sell that than buy that you know but this is the kind of candle where you're going to get a momentum changing and when you're trading this channel and you want to go long you have to wait for this kind of a candle and we had a bounce all right on this over reaction candle perhaps you were you were very quick you got kind of a lower time frame spring or some type of a a break of you know 15 minute one hour resistance or perhaps you waited for the spring here and the recapture of the may 11th low but if we look at this bounce i mean it really was just kind of a standard uh relief rally or mean reversion right up to the ema eight uh ema eight and we have been up observing on these videos on twitter right this is all public you know we don't have to delete tweets we don't have to delete videos it's just we're just using clean trend analysis classical charting japanese candlesticks you can do it too we've just been observing that relationship between the price and the moving average the m820 rejected there rejected there rejected there um and rejected there i honestly i'm a little surprised we didn't make it all the way to the m820 we had kind of a perfect storm type of bottoming and we'll get to that in my tweets uh i had somewhere in here where i was trading the bounce here you know you know basically i tried to play a bounce at 30k and that's like we'll get into that but um it was just due because it had tried to bounce to 30 that failed dropped it to 25 um and there was you know and there was fud right and there was people panicking about the tether uh tether pair and that's like what gets me really interested like it's not it's not just like when people are um it's not just like when people are you know mad the price is low and we're quote-unquote oversold it's like that extra for me it's like that extra level of confirmation when people say like oh don't buy because the exchanges are about to go down or something like when there's this like extra extra level of fear um that's opportunity right that's opportunity that the tether pair wasn't going to fall apart um we just dropped you know 30k down 25k um it just felt right you know and we'll get to that so let's just get to that so so my last so let's see may 8th my last video was like three weeks ago um somewhere around the may fourth fifth range so basically the point is like back in may 8th right most of you should be in cash like let's not you don't need to rush into the bottom that's up here you know we're like 35k and this is clear clearly at this point we're in major trouble okay i mean there were so you've had so many like times to to like get off even though you're like i can't sell here you know oh i i didn't sell at 60k or 50k can't possibly sell here but like why not you just get these clean breaks right support braking drifting lower and at this point there is no real support here right this february 24th low january 24th low you know temporary price structure these weren't real i i didn't expect any of these to really be strong support levels if you look at my my coverage on youtube and on bitcoin live especially i've talked about kind of the the nature of the undefined support range um so when you're at this point here you know you just have this breakdown i mean you've got to be like okay i'm out yeah i get it yeah i didn't get it i didn't sell it like 50k um i think i didn't sell like uh thanks for osaka great thank you so much dan uh i didn't sell there 50k but like come on like so we've had all these opportunities and times where it's like let's you know you need to get out and the point i made here on may 8th uh on this day we're in that 35k range you don't have to like people get all the time every little low time frame bounce they're just itching they bounce they buy they're itching to buy a bottom but the bottom doesn't happen like that usually um even if we bottom here it's going to do this it's going to do a re-test maybe a lower low i mean it's going to do that right it's not going to you don't just don't do that that's just not how it works like in your mind that's how it works because oh yeah boom and now we're going 100k and all your fundamental you know theory is going to be proven right no like bottoms are slow to form there's ask anybody who does this i mean it's just slow to form and even candlestick theory japanese candlestick theory talks about many of the best entries come and re-test the supports you kind of try to play that retest of like a hammer dragonfly doji you know even like a long leg doji the lower range um you know at this point on that tweet though you know may 8th it's like listen you should be in cash obviously and don't rush my point is like you don't don't rush into the bottom and you know it takes time and we had an attempted bottoming here and we kind of we really almost reversed the trend right we had essentially gone from we had essentially gone from um you know red light orange we're trying to go green and then boom falls break out we get that so you know you're gonna let it play out the red light's going to turn orange before it turns green um so you're not going to miss it right you're going to be able to find confirmation so that's may 8th and then boom may 9th and then right there so you know may 8th no need to rush in and then now we're breaking now this is a big deal we broke the january 24th low i thought you know i followed some bulls and a bunch of them were saying nope the low uh uh nope the low has already been put in folks nope every time you know and i don't want to hear it bears nope blows in well we broke the law you know it's like it's that this was like the last if they were in court like this is their last piece of evidence that hadn't been thrown out yet this january 24th low right feb 24th low was broken that was never going to hold um and then you lost this support this pretty clear demand level here i mean losing that you know 37 36 was a major warning sign and everyone tweeted it i tweeted it this is obvious right so you're not helpless like a lot of times you feel helpless you're making yourself helpless because you're choosing not to define your risk you're choosing to avoid clear uh love all your book on live updates thank you and i really appreciate you being a member um you're not you you're um like you're ignoring these these these moments where the trend is telling you you need to you need to define your risk a little bit here you need to kind of you know pull back um this is a big level when we lost that level here i think anybody with any kind of anybody was seasoned right at all any gray hair any any anybody who had been doing this knew um that it was going to go lower and probably tested january 24th low probably break it and it did because the momentum right that was a big break this is a big this is a big loss especially coming on the heels or after that false breakout right it's all been i've said this all you know so if you're like j chad what are you talking about go watch the market update before this by the way my um my may 4th update from bitcoin live the whole report's made free you can watch the whole thing it's 45 minutes it's a straight master class uh free masterclass on ta uh so here we go may 9th and i always get to the point and actually looked back and i put out a similar tweet um maybe i could look for it now but i put out a similar tweet where was it it was like around here or something and there's usually like a one more leg or two more legs down it's close to the bottom but i basically said like i'm not going to make fun of permanent bulls anymore like the point had been made here may 9th right and you know me i i try not to you know i don't pick fights or anything but like it just bothers you when i'm lit i hear people like i hear people who are just like trying to you know like people are impressionable and i've been one of the impressionable people and when i hear someone tell me what i want to hear yes okay great you know now i'm gonna not now because i'm listening to these permeables i'm not going to sell on a clear support break but i'm just going to buy arbitrarily on this way that on the way down it doesn't do anything for you right um so i do a lot of like hey like no that's not the deal that's not what that candle means that's not what this context means but then i get to a point where it's like i'm i'm tired of being wrong like i want you know first of all yeah i want the price to go up but i'm tired of like i'm tired of making fun of perma bowls like if they don't get it by now they're never gonna get it kind of deal right and here we were uh i put in that tweet you know somewhere in the morning i woke up i'm like all right like points made i mean there i was like okay now clearly points been made yes you know you're getting those replies from people chad's i wish i listened to you i thought you were a bear but you were just calling it you know and so like all right fine now can we bounce we're usually pretty close we're usually pretty close when i when i when i'm like tired of making fun of of the permabulls okay that's may 9th that's right there all right so we're in this day somewhere um probably right around here in the middle point uh okay then i get to this tweet and i've seen a lot of people talking about like oversold right oh we're oversold i'm just checking the chat room big well good to see you uh um i hear a lot of people talking about like we're due for a bounce because we're oversold and you and i've made this point before like ask yourself how do you become oversold all right you become oversold by being bearish right do you want to be long something bearish or do you want to be short something bearish right trends tend to continue right it doesn't mean it's going to 100 continue but it's at least 60 percent likely to continue that's kind of a generalized statement there's context there's there's force there's momentum um like when i see oversold like oversold means bearish oversold is a better reason to sell right than to buy and i see people using this oversold is hey we're due here oversold you can ride oversold for a long time especially with lower time frame bounces and a failed breakouts all these failed descending triangle failed double bottoms failed anything where you reset the oscillators you can do that and you can continue oversold uh being oversold is a better reason to sell than buy okay and people tell me some people tell me i'm crazy like i understand that i was there too before i actually studied textbooks which is why i recommend studying textbooks i tweet them out anybody can do this read the books put in the time all right uh our stack can stay oversold for a long time i'm working on a um you know my book book three right i have a quote in book three it's like rsi can stay oversold longer than you can remain patient or something like that and that's true so same thing with being overbought by the way so yeah i have a book three coming out in a few months i really want to make i'm not rushing it because i want to kind of really keep editing it but i put the cover art out it's pretty cool so here we go may 9th this is all happening where it's like i saw some people who started to say like okay i admitted i was too bullish okay i admit it you know i guess we're in a downtrend so it's interesting and kind of evolution of these these like minor bottoms or these local bottoms to where first i'm like alright i can't make fun of perma balls um and then today's the day it's a sentiment kind of a sentiment analysis and sentiment analysis you're realizing like you know all these people are finally admitting it and they're coming like they're starting to come to terms with it um which means you've already taken a lot of damage at that point so i start to kind of i'm like all right i'm going to pay attention here i'm waiting for volatility it's probably close by i'm still putting out these tweets i want to temper expectations i'd love to retweet this and say look hey look you know um it happened again and this time this time wasn't different and uh even though like i would be down big on my huddle i'd be i'd be adding to it right here so like who wouldn't want to right um i i kind of put out a tweet kind of tongue-in-cheek a couple months ago and i said the uh the run from 12k to 100k is going to be amazing and it would be it's not necessarily going to get there right so there's no doubt about that but just momentum wise you got to think we're going to head down to 20 and we got the weekly ma200 right at right you know right in that area we've seen the price the ability to kind of flush beneath it and eventually you know reclaim it so i mean you know given momentum i don't think it's crazy to think about these lower targets and i've discussed this before i'm not like breaking new ground here um so you can kind of you know you can you can delve into that further um but here's another one right so i was responding to plan b he's i guess he's a friend of mine i don't i think he used to follow me i've never like i've talked to him that much but um i will challenge him in a respectful way work you know he was the um you know the like uh ptc 200 or whatever 2 300 guy and i would reply to his threats i'm like bro like we just had a breakdown or here's here's a reason why i don't think it's going to happen um and so i was responding to a tweet about the idea of like this is may 11th it was the day before the the the local bottom which is interesting but it's like the whole idea that like because we're over oversold um we're gonna balance and that bothers me because this because it's because i know it's like it's like spidey sense because it's like i used to think like that and it cost me money and when i hear stuff that i know like it's gonna cost people money like i get kind of almost like oops i kind of um i react like i like a yeast right i start rising and i'm like whoa right like and then that kind of ties back into what i said earlier on rsi you know it can stay oversold for a long time so i just think generally speaking um thank you thank you for keeping me sane it's the same thing right back at you we're all you know uh it's that i think it's just one of the most misunderstood things rsi it really really really is um i think it costs people a lot more money than it helps make them anybody who uses it i mean you know most people use it use it incorrectly there's some people who are really skilled to use who do use it correctly but most people have no idea how to use the rsi so i went long here may 11th and that was in um that was in this candle right so we'll get kind of into this a little bit right and that was in this candle we've been breaking down you know boring slow breakdown and then boom finally you know finally some movement and then we get a bounce bounce failed to hold all right bounce failed to kind of hold close back below the midpoint of the candle um and then we had kind of this just like nasty day the following day the 11th and then boom right and this is the luna panic ustt panic and um so but i went long though because we had dipped below 30k on this day so it's just a simple spring technique and i'd say like a lot you know 80 of my trades are based on this technique where we had kind of um we essentially come down and we just reclaimed 30k so it went long we went just above it though and then we came back below i cut really quickly right because it was it was a very volatile situation and i don't mind personally stepping in early um if i have a solid thesis which i did which is 30k and being flipped and i'm willing to kind of cut quickly which i am right um so so basically said like i'm trying longs here but if this fails i probably won't try till 30k right we're either bouncing right at 30k or we're gonna drop down to 25k right which i felt like was kind of the next zone so i played at 30k and then i was out and at first people were like i i a couple people had replied and i don't read all the replies obviously you know you can't to stay sane you certainly can't um but i'll read some of them and and they had said oh wow it's super tight like don't you want to wait for the the whatever the four hour the one hour but then like you know like a couple of couple hours later we were at 25k and then boom btc tax 25k right this is an interesting tweet because back in may first i had said um some of these folks will be bullish all the way down to 25k right that's all the way back up here may 1st that's like right up here you know the 3839 range and i was talking about the permabulls who i later said like you know i'm sick of making fun of them anymore i'm not you know not having any fun making fun of me uh them anymore but like here i'm like look they're just gonna be bullish all the way down and then we're gonna bounce to 25k which is implicit in here is like we'll probably bounce off 25k the first time and we essentially did right you know it was like 25.2 there was a 25.4 you had different uh exchanges that had variations of that on the absolute low but i basically said boom you know 25k and then boom here i am 25 too and look i'm human i have i have my ego and yes i'm i'm collecting cloud i'm looking for clout um but it's fun to be good at something and um it's fun to be able to do this and look back and be like hey you know i'm telling you what i believe i'm not out here like i'm literally just like this makes the most sense to me and i have enough confidence to tweet it and that's kind of what i'm doing and i'm sharing with you my thoughts right that's what this whole this is what this is um tag 25k so i uh i sold rated 30k uh because that 30k failed right here this is on this day so i've dropped in at 25k and it jumped into 25k on bitcoin but i went much heavier on ethereum i played ethereum from about 1820 um i didn't get the nut low i was a little slow on that but i i talked about that i've talked about that bitcoin live a lot and and in other places i talked about on twitter what was interesting i i should i guess i could find the tweet um but when i went when i went long i said going along on ethereum people and it was like you know 1800 and people had replied um people had replied it's ethereum right i go along it was like right here it wasn't not low but it was pretty good people replied like oh no like the weight chance it's it's too chad it's too scary like uh usdt is collapsing chad's uh i had a great holiday cleat thank you man um do you huddle i do bottle i i stash bitcoin um you know they're like don't do it chad's it's risky it's falling apart and that made me that made me so confident i can't tell you there was there was that something about that interaction where like the chart dynamics were right you know bitcoin tagged 25k ethereum hit my target 1800 and i had people in the replies really warning me that made me like 10 times more confident and i dub i doubled my my exposure at that point right and i i sold that around like 22 2100 2150 i didn't get like again i don't get the nut top i'm not gonna nut bottom i'm not gonna ever claim i did but i definitely failed i sold out the majority when we had failed you know failed follow through and move my stop losses up so bitcoin on that day though i tried it 25 too because i'm like that's a logical level we'll probably balance and we got a good bounce off of that so um you know all this time i've been saying on twitter and bitcoin live um anywhere you know at bars when people don't want to talk to me right they're like dude shut up about bitcoin not really but yeah just anywhere i've talked about this on anybody's podcast it basically just talked about kind of the undefined nature of the support um you know the well-defined you know 46k breakout level now we have the ma200 in play of course but how like any kind of bounce here in this channel right in this kind of kind of the resumption um of the secondary bear secondary bear trend of the you know the primary bull now the secondary bear um you know kind of presuming that in the failed breakdown like to go along you need volatility you need kind of an overreaction candle and we got that but we've had pretty weak follow through right couldn't even haven't even tagged ma20 yet haven't even closed above the ema eight yes i mean this is for me though this is closing at the ema eight i mean yeah you technically closed a little bit above it but this is for my in my way of thinking especially with the moving average flattening out you're kind of closing at it i really haven't had much have much strength there uh love your book thank you very much and by the way i am the author of um my first book's a memoir on cancer i'm a cancer survivor my battles with cancer i'll just email you this for free uh find me your email i'll just email it to you for free i'm also a um i had a family member who had cancer and i took care of her as i i tried to take care of it as best as i could um so here we go 25 2 and that you know may 12th we're on this we're this crazy reaction day and i'm like look i'm out of all shorts feels like it's ready for a snapback this is basically like right around here and me saying like look we're about to bounce like it's it's pretty clear and i try not to make these calls you know i try to make these types of calls frivolously i take a lot i take great responsibility in what i do um and i make mistakes and i try to highlight my mistakes when i make them too i i follow some people and they're they like won't admit they got it wrong and like people like you're human nobody's that good like nobody's that good i'm not and um so there's my man khalid right who's on the video there's khalid um i you know if you make a mistake admit it it just you can learn from it that way so i'm out of shorts at that point it's time for snapback and then we get the here we go now we get the end of the candle candle closed daily candle long legs what does that mean chad what is what does this mean i've done it a few times and listen like i try to always stay on top of stuff i'm not always in my computer it could be a dinner it could be out and about i'm not always going to write like a long tweet with images attached and like a link to the thing right um i try there's a balance brother trust me i have to keep a nice balance uh i'm not always going to be able to tweet all the stuff so i'll tweet out like btc long legs today what does that mean it just means there's volatility upper and lower shadow we need a long upper and lower shadow it's a long leg doji all right it doesn't have to be equal shadow because you can have a small candle body it's basically a long leg dough deep right it's a decent start for bolts and it is a decent start because you get the you get all this you get all this is like a nice steak with all that meat in the bone oh that's nice oh that's nice cook mid-rare um you know a little mashed potatoes this is nice right here okay all this action below bollinger band and you kind of that's momentum you you you need momentum for a bounce right but then you know where's the follow through not a ton of follow through right bounce right up to ema8 rejected so um but i was out of shorts at that point because it was due for a balance and this is the kind of candle where you you get a decent bounce off of we didn't really have much follow through thus far thus far uh here we go so this is basically me saying that like we didn't have a great bounce um you know i'm saying risk off until we reclaim uh 30k is may 13th so i'm back here this is early in the chop like this is on this candle i didn't like this candle and you have people out there talking about talking about inverted hammer inverted hammers actually bearish inverted hammer leads to bearish continuation i think 63 percent of the time and it makes sense why would this candle be bullish it has a longer upper long upper shadow it tried to bounce and it was rejected like what's bullish about that you know i get that it comes in a downtrend it shows some evidence of of of uh of bulls some evidence of bullish you know uh of some evidence of demand if you want to put it that way but you that's like if you just simplify candlesticks it's just candle shadows right upper shadow is bears rejecting higher prices it's a parish candle same thing with a hanging man it's bullish right a lot of people think i'm sorry yeah it's bull a lot of people think hanging is bearish it's not it's 59 bullish continuation i saw this candle i didn't like it and i said listen like unless we get above 30k risk off and then we've had kind of a choppy above and below 30k type of environment but i had already been at that point i already in my mind decided look there's a little bit of weakness here we failed the stair step what's the stair step well if you've got a level of resistance and uh you take this time and you you know you're rejecting on it and when you when you finally break through now you want that to be your higher low that's the stair step you come through and you stare stepping there all right now we're cooking now we got something going on we got a nice high or low base right you see what i'm saying the stair step you bounce off those those levels didn't happen and i started to see kind of evidence that it wasn't going to happen you know we've just been chopping drifting sideways there's you know why how can you be bullish here unless you're just always bullish okay if we bounce you're gonna see it close above the m820 then you can be open-minded about a bounce but until that it's like 80 percent 80 percent bearish continuation and that's like really high you rarely get this type of setup um lift uh just uh so here i'm saying i didn't see the kind of follow-through i wanted this is interesting it's either march um so let's see do i set alerts for myself i'm not just watch all spandex i'm always watching i i just feel it i feel the chart too i you you could you i mean you probably believe it if you look at my tweets i feel it i know what's going on i don't send alerts just watch if i'm sleeping i'm sleeping i don't want to be waking up for bitcoin it's not that important you know i want to sleep but if i'm awake i'm watching so um so let's see uh so here we go it's either march of 2020 um we're going on 32 minutes now i'll probably wrap it up pretty soon it's march of 2020 or november of 2018 take your pick this is interesting because um in march of 2020 uh let's see so in march of 2020 and that's just kind of in relation to the lower bollinger proximity when i was when i had this in mind i was thinking about just this price action below the lower bollinger we're kind of either here right just before bounce um november of 18 right november 18th take your pick so or we're right here right or we're about to make a new leg down right we're either kind of just after major top drifting down now riding the lower bollinger which kind of looks more like it to me than here where it was really just um a higher low and it was in this kind of tightening range right this is within this range boom boom boom boom boom boom see you later it seems more like it to me after kind of a a major local top you finally drift down you get that lower bollinger so i mean take your pick it's just take your pick and i was kind of you know that tweet was i was kind of musi musing or thinking about kind of the um price in relationship to the weekly uh bollinger band and that's what the origin of that was so this is another one i want to talk about briefly i'm going to wrap it up so the idea of uh what's this last one yeah okay i mean whatever that's just like people trying to talk to a bounce didn't happen it's not that interesting um so the idea of like we're due for a bounce well here's the thing though so this is interesting um this is interesting so it depends like if you're if you're gonna look at this and say we've we've got one two three four five six seven eight eight weeks do you know in a row we're due for a bounce well i mean the first week's the spinning top it's kind of the pausing candle you can't really say the trend started yet right this is like the in between trend candle so yes technically it's red weeks but it's a small body it's almost like the it's like it's like um counting an episode in the like a preseason episode it's like kind of for me it's like counting a preseason game like this is before the trend has started you know and then you get okay fine chad's all right you're stickler i get it okay one two three four five six seven red weeks wait a minute what about this week what's the deal here what this doji you're going to call that it's basically a neutral session and what's what if the whole the if the whole thesis behind seven weeks read in a row or eight weeks read in a row do for a bounce is that we're so oversold we it's it we really should bounce you can't ignore these candles on this candle it did bounce and then the bounce failed this candle bounced and it failed and it reset all the oscillators macd rsi you know everything it that allowed this next leg down right i see this as two weeks read in a row and now we're working on our fifth week red like i just see it differently than you most likely because i'm looking at the momentum and i know that this reset everything and it's a doji it's like when we had um i don't remember what it was but i had some like debates with people on twitter it was like eight green days in a row and i'm like you can't count that as a green day it's a doji it's a tiny body like maybe it's technically green but like what's the spirit of it right what's the spirit of what we're talking about this isn't a red week april 18th that's a red week if that's what you're calling red week like what's the point so you have to look deeper you have to look at momentum you have to look at the force and the story right you have to look at the story that that candle is telling you there's a story that it tells you about what happened and that is simplification that is implications for what might come um so listen folks i'm on twitter i'm i'm had a good time here i'm on twitter at big chats i am the author of uh trading wisdom 50 lessons every trader should know it's had like unbelievable feedback i really appreciate that i'm glad that that everyone is enjoying that uh kindle kindle audiobook audiobook paperbook back and hardcover uh if you don't want to pay for it i've got your back if you go to my youtube channel you go to the playlist trading wisdom i've done 14 so far 14 of 50 lessons i'll eventually do the entire book for free for you check that out if you're brand new to charting to trading you need to watch this playlist all right educational live streams you'll explain kind of what i just showed you my moving averages bollinger bands volume how to interpret candle bodies a lot of that stuff i just talked about and then check out these quick market updates which is where this video will uh go into i am of course a proud founding analyst at bitcoin live the best in class educational platform for crypto twice a week full market updates rain or shine i will not miss an update and i'm just one of uh many of a great team you know you sign up you can sign up you get access to everyone's stuff um my entire may fourth report for bitcoin live is free uh it's been published on twitter uh if you go to the public blog that entire video the may 4th report is free you can watch the whole thing watch it and then see what happened um use it to learn from it is a 45 minute like master class on ta and it's free so definitely recommend you take advantage of that um check in here with the chat room real quick before i head out uh thanks man i appreciate that i don't have a near future prediction i just have levels i'm watching i talked about that in the video yeah pintoshe's pentoshi's great i've talked to him on twitter he's i definitely have a lot of respect um so listen uh i hope you folks have enjoyed this video like i said i don't do them that often um but i wanted to try to squeeze one here one in here today and while i'm at it let's get a little bit of music as well but listen folks i hope everyone is doing well out there um heartfelt thank you for taking some of your time to watch this video i hope it's been helpful i think it's it's been fun for me so let's get this started you
2022-05-26 21:18
