Crypto Buy Signals using the Ichimoku Trading System
Good afternoon, everybody it, is 1 o'clock p.m.. Or 1300. Central Standard Time on this beautiful Wednesday afternoon. The 15th, of August. We've. Had a pretty nice change. Of pace and change in direction with. Our markets. In general not just in, kryptos but. Equity. Markets if we look at the, take. A peek at the Nasdaq. We. Can see that it has really. Taken a bit of a bit. Of a turn down here. On. The, Ichimoku system. We've dropped you. Know 117. Points on the Nasdaq the, Dow is down, 264. And the es or the SPS, down 30 points so we've had a bit of a change in the equity. Markets, that is reflected, and, further, into our. Currencies, we, see the Dollar Index has. A. There. Is a ridiculous. Move. Parabolic. Moves happen on all time frames and. There's. A parabolic moving, the dollar index on. Any, time frame below the. Daily. In fact you might as well call the daily a type of a parabolic a parabolic, move it's been a parabolic rise. And. There. Are there's. Only one thing that I believe is for certain in the market and that is that. A parabolic. Move is always met by an equally violent, correction, so. That's. What we're seeing in the dollar index we've been finding a top just been discussing this for a couple weeks now, the. Nature of the of the moves and so we're you know in the currency markets, and the equity markets we are seeing a big, change, in direction and that. Is also having, an. Effect if you want to say it is or it isn't and. Our. Crypto currency market now interesting, I, was. Reading this I don't. Remember the news outlet but, while. We've been in this down, move and I want to take a look at so the here's bitcoins, chart, but I want I want us to take a real quick look at Gold's chart so. Here's gold, alright. Gold has been in, a just. Really, really big move down from this swing, high over here you. Know we are looking at a. Yearly. Swing high Oh actually it was the yearly back here yeah, well we'll just take this swing high here to, where we are currently. Gold. Has dropped. 14%, I mean. It's it's it's it's a it's a big dive down we've gone from the 13th, but you know that high. 1300s. All the way down below 1200. This. Is due for a pretty, responsive. Drive, higher as well the. Interesting thing about gold though is that. Bitcoin. Even, though it was moving down with everything else Bitcoin. Was getting more volume, globally. Than, gold was people. Were not, finding. Security. And have not been finding security in gold, but. They've been finding more of a hedge. Against, uncertainty, with Bitcoin, which is which is actually really weird in. Turkey, they, have been buying a Bitcoin like crazy like the. Bunch. Of different aggregate. Crypto. News sources, we're talking about that. The. Exchanges. Dealing. With the Turkish, lira into Bitcoin have, grown exponentially. Over the last couple weeks and. Yeah. That's just. Partly. Because I think this is another case study for why crypto currencies are important, regular. People were not able to exchange their. Lira and put it into dollars or Euros they. Were, being prevented, from banks, they're being prevented by their government, but. They. Could do it with. With kryptos those they could find a source of security, and stabilization there, so and. Somebody. Might say well you could do that you, know people bit. Bitcoin is not stable no but. Tether, is, even. And. Screw tether but, true USD, is. So. Yes. That's been an interesting and interesting thing going on just the kind, of the fundamental. Aspect. Of the, market that we participate. In so other. Than that I want, to zip, on over here let's let's take a look quick. There. Are a lot of buy, signals, long signals, that I that, I have. Been. Looking at. Again. Need, to open up was saying that derivatives. Trading and especially, crypto currencies a cryptocurrency spot market of cryptocurrency derivatives, are involved, substantial risk and is not suitable for all investors. You. Should talk with your. Financial. Planner regarding, your investment, goals and that. Past. Performance, is not indicative of, future results, alright got that out of the way, now. Bitcoin. Pretty. Nice riser look at the daily.
We've. Got really. A flat, line of price. Here but we've, rallied up to the 6500. Value, area 6 to 600 rather, and. So. We are above the price of the past one two, three. Four, five, days. Alright, we could pass, the sixth day so we've, actually had a pretty nice. Bounce. Here we've, been talking about this, zone being in a buy zone, for. The for the past week and a half or so and. That. This red, vertical, blind here if you remember I think it was on Monday I was discussing this that this red vertical. Line represents, a pivot in time and that that it, acts as a source. Of. It. Acts as a source, of resistance, in time. To. The trend in force and. So. This really just kind of. Reinforces. The the, theory behind trading. A time cycle versus, price price, action only and this, is a this, is part, of how I like to trade so, and. I and I shared some, of the some, of the big some. Of the buys I picked up over. On Monday. With, Walton coin and, card. I know I bought some. A nice, chunk. Of those if, I can. Find. Those. Images. Right. There. Tink. And. Where. Did I deal with it oh. Well. I'll. Shoot. I'm. Not gonna spend so much time looking at this I. Think. I had it. Yes. I was, gonna get a snippet because it's easier because I don't want to share my oh. My. Phone info okay so I. Have. Card. On Oh picked, up a. Chunk. Of it on Monday. The, same with Walton. Chain I picked up a chunk of it. And. Those. Are ones that have been really. Really really down even before we. Had the, initial. Kind, of impulse, wave here motive wave rather, okay. So. Will. We see a long-term pull. Here I have I have no idea. Nobody. Really does there, is a big. Argument, for. This just, flagging, and. Facing. Resistance around 7,000. Area and then having another leg down. We'll. Have to see though the volume on the daily right now it's, not, it. Needs, to grow I mean. This is on coinbase is volume but let's look at, so. This is Krakens. Volume. The. Volume yesterday. I, mean. Then just these are very. Different daily candlesticks, here's Krakens, daily candlestick, that says we went all the way up near 6800 and then. Here's coin basis which says we never went above. 6200. It's. A little different but this, is a pretty nice-looking hammer the volume yesterday, it's, wonderful to see this kind of a candlestick formation, near the near the bottom of a, trend. Trade, and we, have this. Type, of formation with this kind of volume. Ideally. We would like to see, the, following days volume. Be. Near. Yesterday's. Or, higher. But. It's not so that. That's alright though. Let's. Go, ahead and. Look. At the Ichimoku system. And. Look, at some of these these. Entries, zones that we are sitting at so a lot, of these, we've. Unfortunately. System. And waiting for those kind of signals but, and, using what's called MTF. Or multi multiple. Timeframes multi, time frame analysis, is another name for it so in. The Ichimoku system. You. Have, a. Couple. Time variety or future time rise you should look at so if you want to trade the hourly chart like. I do I look. At the daily chart the. 4-hour. Chart and the one-hour charts and entries are made on the 1-hour so the, general, rule is is when, if. I want to take a long trade, then. Price, needs to be above the cloud on the 4-hour, and the. Daily. Chart if I want to be if, I want to be short trading I want, to make sure that the that. Price is below the cloud on the daily and the 4-hour now. The. Problem. With that is is you'll be sitting, there for quite a while you could be sitting for, months actually, really. In a trending market you could be sitting there for months without being able to take a trade. But. We know that when. Trends, change and always the trends, change, always. On shorter, timeframes, first okay so it's like a domino effect so. There. Are by. Signals, long. Signals, for me in.
The. Ichimoku. System, in our, crypto markets so. Let's. Look, at this so Bitcoin has an, buy signal, based on the hourly and what is that signal. Again. Price, needs to be above the cloud which it is is the. Cloud ahead Green it is is the. Lagging span also above the cloud it is so, the actual buy signal, was, when, price, closed. Above. The cloud and so did the lagging span so it was back here on the 6,400, value area did, it retrace a little bit sure but, the but the signal was still there for the buy entry. Actually. No that retraced, before. Yeah. Okay. So, that is that, is that tree there there's been a couple others that also have, have, had this so if we look at well, let's see the ones that don't so aetherium a theorem, does not yet, have a signal. To go long on the hourly on the HT MOOC we have to wait for it to get above the cloud there. Is an argument here we're, just using some common sense and the overall market, data you. Know if Bitcoin, is issuing, a signal that to go long then. Everything. Is pretty much your signal, to go along because we don't we're, not back into, a full, rotating. Crypto market where we have money flowing into Bitcoin, where. Bitcoins, catching a bid or the majors are catching a bid the alt coins are selling off and, then we have days where alts are doing great and Bitcoin, or the and aetherium, are just sitting. Mostly. Flat or down, we're. Not getting a big rotation of that capital yet so. Really. We're just faced, with a an. ETF. That's, essentially what we're dealing with so aetherium, has. Not yet met, a a. Buy signal in, fact there. Is a. Argument. To be made for. Further. Down prices I mean, we have on the hourly at least I mean this is this is probably one of the easiest. Elliott. Wave charts. Ever. I'm laughing, because they never look like this. So, we have a. 5/5, wave. Down. Again. They never look like this. So. There's. That and then followed by our corrective. Wave up a three wave up so that's and that's what we're at right.
Now. Where'd, we go. There. And, we, got here, here, here, here okay. Something. Saying am i streaming, live right now it says yep. Alright, so, that, I mean this. If this, is a corrective, wave then, we shoot and and jet, I mean this is this is frickin I, gotta. Actually. Take, a picture, of this because this is kind of a ridiculous, I. Mean. I could, pull out the chartered Market Technicians. Material. Or. Like. I don't know there's some other books, that. Trying. To think of a guy who didn't Elliott Wave one for Bloomberg press I mean, this would, be in their book. So. There. Is an argument that this could just be another leg, down. But. I mean from what Elliott, Wave what are we looking at so if you look at the daily I mean, there's this is, I say one, two three, now it can't be that so it could be a one two and then we could be on a three wave and then we just start our next leg up I mean this is this. Is all can, Elliott. Elliott wave is a is. A. Art. And, a science like, technical, analysis, in general anyways, on. The HM ecosystem, we. Do not as of yet have a buy, signal or, a long trade signal, from aetherium, because, we, are not above, the cloud here so in order for that to happen either. We have to wait. About. Well. Ten. More hours for, it to trade sideways to get above the cloud or outside of the cloud here, or. The. Legging span that is or we have to trade, up above three twenty two. Which. Could happen. It. Could happen. Price. Cut if we're gonna do like a five wave I mean we could see price pullback down the conversion, line and that not and not violate, that, that second. Or the a. A. Wave, oh man. I'm having problems, with the words today that. That is a possibility but a, theory I'm not showing a buy signal. The, theorem classic, very. Similar chart, very similar, cloud, not, showing a signal we would have to get up there more of course, Bitcoin we know that that has the buy signal going on it. Looking. At litecoin, litecoin. Is is almost, like, coin almost, has a buy, signal it, is very close to getting one we, could certainly, see, a. Nice. Drive. Up, and out of here and so, if we were looking at a light coin, a. Signal, we would be looking at the. Well. 59 there are just the 60 even. Not. Hearing any audio. Weird. Because. Anybody watching, this tell. Me if you can hear me or not I. Mean. I'm hearing it on the stream I. Just. Turned my. Okay. Litecoin. So. That Venturer be about that. $60. Even, value, areas, where I'd be looking to get. In the long there, walton, coin. Has. Had some, crazy nice response, here i mean, this is a this is a drive up I mean, we. Were, trading down below at a, buck 87, and then we moved all the way up. We. Moved up 28%, that's. A good move. That's. Insane. In. One. Day. Nano. I've. Been talking about Nano for a while, I've, been talking about Nano. Because. This, is the most ugly, chart of all the charts that I've seen and there, is no reason. Fundamentally. Why this should be down in the doldrums but. But, it is and I. Have. Been adding to positions, every big you, know greater than you know 10 12, percent dip, and we've, moved up. 50. Percent. From. The from the low, we were at around. 11 o'clock last night to now in, the 12 hour that's, that right that can't be right, no. Sorry. Yeah 24, 48, hour period. 50%. Drive. You, had five grand in it you, know I have 75, grand in that 75. Grand oh my gosh 7,500. I. Like. It basic. Attention, token. No. Itchy, moo-coo, long signal yet nano. Actually, does have a. Long. Signal, trade. At the, 1844. Value, area and, this is actually nice one because we we. See. The legging span braked up above the cloud traded, down to test the cloud as a. Source. Of support. It, and it's so far it's been holding it. You. Know on the hourly we still have we. Still have 40 minutes left before they already closes, but, we. Still we do see that we have the, the. Possibility. Of driving higher, here. So. Oops. Stellar. Is, a, lot. Like litecoin in that it's right near a breakout, zone it's facing some resistance, the, legging span is now. I'm going to turn off the H mukha system for a second and, say, okay people maybe ask okay why is price, stopping, around here what is what is preventing price from. Moving higher why. Are these wicks here because this doesn't look like you, know these three candlesticks, these wicks doesn't, really say why we should be facing any resistance, there. You. Know just I mean. Maybe from back here but but, otherwise it's. Hard to tell it. Makes sense of the HU mukou system though because the lagging span will respond, to areas, of support and resistance just, like price will so. If the legging span is inside the cloud. One. Of the reasons why the, legging span is kind of a final condition, for any trade, signal, is because. It has to go through the, same crap that price went through previously, and we. Need to see it bust. Out of this zone so it's facing resistance up, against, the, cloud, and so we have to wait for it to break out. And. Then that would be our final condition, met so the. Legging span breaking, above. The cloud would be around these.
23:24. Value, area that, would be the Ichimoku. Long. Signal. On that trade. Checkout. Some others, OMG. Is is. Looking. Like we may find a a. Another. Long half in here now we. Have two. Areas. Now, that we've formed a base we traded up we formed another base it's, we could be doing a stair-step up, here, where, we're going to see, some. Some, big, drives up for a few hours followed. By some. Profit taking and consolidation. Followed by another big drive up so you, know when you see these kind of patterns forming. They generally, will continue. To, to operate that way throughout the rest of the move until, there is a corrective, move. So. We could see prices, consolidate. Range trade a little bit but you. Know if I'm looking at the OMG chart, I see, that we do have. We. Do have the cloud as Green price. Is above the cloud legging span is not yet, so we might have to wait for it or get a really big candlestick. To trade above. Z. Cash similar, situation, you, know we've we've traded back above the cloud, but, you. Know we're legging Spanish is still legging, span is still behind it the nice thing is is the cloud, right. Here, on a lot, of these charts is very thin now thin. Clouds. Thank. You Louis. Thin. Clouds. Represent. Not. A lot of. Honesty. I should, say is I'd know if that's the word I want to use or not but when, you have a thin, cloud the. Top. And the bottom, in the top of the cloud they, don't act very. Strongly as an area of support or resistance but a thicker cloud does so the, thicker. A cloud, is, the. Stronger, it. Is indicative of a of, a of a powerful move and that, and more. Often. Than not the, cloud will act as a source of, support and resistance. So. You, know if we break out of if, we break out above, or below a thick, cloud that, is a pretty that's, a that's a pretty important. Thing to pay attention to. Especially. Because. You know we always wait for the, lagging. Span to also break out so it's it's a very very. Strong. Indication. Of a, of. A move. And.
Something, To pay attention to so let's see yose I. Mean. We're, really looking at the same chart back and forth here we're not really not seeing any but. We're seeing very few. Charts. That are deviating, from the norm we're. Seeing, you. Know -, we're, seeing two areas of consolidation, followed, by two. Breakout, moves and we're. You, know this is really a bullish. A. Flag. Pattern. But. Yeah, we're probably not gonna see a whole lot of difference in a lot of any of these charts especially, on the dollar pairs, ripple. Is. Kind of an interesting one where. Where. This is a good example of why we wait. So. Ripple I hate ripple I think it's the devil. But. It's got a chart that shows. Really. The same pattern we're seeing is this cup, and handle formation cup and handles are not very profitable they they, don't turn. Into positive. Trades as often as as. Often as any other pattern, I mean the, only one that's really I the, only one I really ever pay attention to is that head and shoulders pattern and. That's. The one. That is the is that has the highest rate. Of return and that is the is the one that generates. The, highest positive expectancy, of of moving. In the direction it should. We. Have the. Cup. And handle formation, here it's. Near to breakout, conditions. - we see that, we. Are trading. Above. The cloud the cloud is green all, that jazz but where did the lagging span go up to and what where did price action stop, price got up to here legging, span touched the top of the anybody cloud here okay this is where what I just said about the cloud is not it, did not work out where this, is a very thin cloud but. The leggings pants still treated it as a source of resistance so you. Know what, happens here well when. He had a break out of the cloud price, will more, than likely come. Down to test either the conversion, line and failing. That it will move down to test the base line. Feeling. That little test this cloud feeling that it'll test the bottom of the cloud and then failing that we get into short conditions, so we've. Got time. To. Look. At what's what's going on. Again. Nice, thing about the chuka system is it, tells us when not to trade and. So. This is telling us not to take a trade yet. Okay. Let's. See a -, holy. Cow. Look. At that, that. Was a big. That's. A huge wick Wow. So. - is is, approaching, a buying condition, here daddy our leaves not very good for that because it doesn't have a lot of volume really about the four-hour yeah. For, our. What. Is a nice thing to see here though on the for hours that where, we're, at an area where we should see some resistance, where we should see a pullback, or a throwback down here, there's, a difference between pullback some throwbacks but everybody says throwback or a pullback so I sometimes. Forget to call them the correct things but I've. I don't, know if a lot of people know what throw, backs are even. But we, have. Price. Action trading here and. The. Legging span could treat this area as a source of resistance and, it, could sell lower also. Price, action is currently right at the baseline slightly, above it which, is good but, otherwise. You. Know on the four-hour not, seeing a buy. Signal yet, but certainly. If. I see, the legging span trade, above, price and price. Is trading above the conversion. Mine and baseline then. You. Know I'm, gonna break the, longer rules because, we're we're talking about a trend change situation. And that's. Where the, risk and the reward comes. Into play so again. When I was talking about this in the beginning you. Have to use a combination of, following. Rules in the system but also using, some common. Sense so you. Know if you only are, going, to trade the Ichimoku system, and you are only waiting, for all three conditions to be met on three timeframes, you'll.
Be Waiting a while to take trades and there's. Nothing, wrong with that there's, nothing wrong with with. Waiting, but, I like to get into things a little early because if we look at a daily chart. And. You. Know let's say we were trading in here. How. Many days would we not have taken the trade from April, 20th. Through. Waiting. For the lagging span to break down below the cloud. Actually. We want to want, to trade it when it when it dropped, below this horizontal. Value area so uh, a. Whole month pretty much little, over a month we would have been waiting, to take a trade, on a daily chart again there's, nothing wrong with that. If. You're a swing trader that is that is probably awesome, for you because. Daily. Charts, when prices break out of a cloud on a daily chart you don't often see a, lot of price. Churning, to go back into it and have full reversals, like you do on slower timeframes. Daily. Charts and weekly. Charts on the Ichimoku system, are are. Going going to be like the I, think the most. Honest. Type. Of chart. So you. Know. Just. Keep that in mind but the. Thing is is let's, say we're looking at this opportunity. Here where we're shorting but if we were to go to the 4-hour chart so what are we talking about here let's let's look at the, fifth. Of May in 2018. Oh you know what let's just do this. We'll. Go to. Do. That. Here. So. Here's - on the daily, let's. Get -. On. The. 4-hour chart and, then - on the. Hourly. Okay. So. Looking. At -. Three. Different timeframes. If. I go back to. May. 10th. May, 9th May 10th. And. Where, we had some may. Actually. Where did we get that we're, trading here like 13th, and 14th of May, 13th. And 14th of May so we are below the cloud and. Then. You. Know when I get to the 14th. Here, and 15th, I start. To get a. Little. Bit of a chop trading, here but then ultimately finally. We get a break down below the cloud on the 17th, and. The, leg expands below the cloud so there's our there's our short signal. And. What, they did it finally break down over here. Not. The Sun we actually had to wait three. More days to, get a short. So. And then. You can even go shorter on the on the hourly so when we're when we're looking at the, the timeframes, and. When. We know we've been in such a prolonged training we're forming a base it's, it's.
Not As risky to to, break the rules or, not to break the rules but to trade different, rules for transfer, for anticipated. Trend changes so, and and, because we're doing entries, based on the hourly if we're you, know cuz again. Trance change on on shorter timeframes before they start to do it on longer time frames you're always gonna see a change in trend on the hourly before you do on the four-hour hour and then you're, always gonna see that happen before you see it on the daily and there's a lot of price action that goes on there there's a lot of trading that you you miss out on. And. And, this. Is up to each individual, person but one of the problems that I always had when, I was starting trading was was, I I. Always. Seem to miss, the, breakout of something. And I'd. Ended up always chasing and I was like well why did I never get into these it's, because I was a chicken, really. I wanted, I wanted everybody else to do a lot of the work to tell. Me when. It's safe to go in, but. Most. Of the where, I'm a good chunk of the year initial profit target, and your initial profit is gonna be made on the breakout of a. New trend so, you. Know if we know that we've been at this again we know we've been in this basing area we know we've been forming these bottoms there's, there's, nothing. Wrong for. Me to. To. Play. It risky, and, take. Trades, on the one hour and the, four-hour charts, okay and so I'm looking at the one-hour chart, and. I don't even really need to see the daily right now I don't even need to look at it I'm looking at the 4-hour, chart. And. I. See. Well this is actually kind of bullish because on the 4-hour chart ever. Since we broke down back on the 31st of July ever since we started trading, below we, have not been able to get, back into the cloud and now we are. Okay. I see, the conversion line is crossed above the baseline price, is holding above the, the, both those lines were sitting inside the cloud in fact on the 4-hour where we opened, we. Opened right, on the bottom of the cloud on the 4-hour chart and. We're. Trading above and inside of it and so. This is fine for me because I'm, you. You know we have this bias for a market, turning, positive here, and, and. Should, I expect some short-term pressure. Sure. Two. Reasons why, one. The. Lagging span is up against the baseline, here it. Would be totally appropriate for, price to. To. Get rejected at this level and trade, back down to test the the. Bottom. Of this cloud again and. Looking. At the current price action, here I mean what's the value so here's. The bottom of the cloud at, 64. 44 if. I look at where the baseline, is on the one-hour where's that at, 64. 53, 64, 56 says it's the same damn zone and. So. That, is actually a great area where I would say if, I you know maybe. I want to peel profit, off of here and then add on a retest, lower. Or. Just. Look at the chart and see that we have a pennant, forming and have. A by resting, by order up above I mean there's a lot of ways that you could you could you you you you could see these I. Mean. There's there's just all sorts of things, to look at, but.
On A breakout from the hourly like this from being in a downtrend I like. Seeing that price action has respected, that Bay sign as a source of support. So. I'm. Gonna keep trading like that I'm gonna keep trading the, dips, that go down to test the, baseline, and I'm not going to freak out until there's. A another, short signal on the 4:00 hour or another, short signal on the 1-hour. Because. Right now there. Is a there's. There's bullish, conditions. Let's. Look at like, Cardinal. Which. Actually has quite a bit of a bullish. Stuff going on for it why. Is this on the 30 minute oh i know i because i did it in forex. That's. What that's alright okay, I'm looking at the 30 minute in, car down oh. We've, got the daily. The. 4-hour and, dailies. On the top left four hours on the top right and then we have the. Bottom. Is the, one-hour chart so looking, at card on o on the daily looks. Pretty, Blish looks, pretty ugly, but. We are wish we. Are way extended, from that. That, baseline. On the daily and. When you get really, extended, from the baseline. Things. Like the snapback talked about this yesterday where, there are some and I think I mentioned it in and that's, the problem you when you do more, than two. Or one session, a day you don't can't remember if you said something in a previous session or if you're just repeating it to the same group but we, see that price is is. Is. Quite a bit a ways away from the, baseline. It's. Not as bad as saying it back here. But. Still. It's it's a bit of a distance where you should expect some type of pull back there on the four-hour this, is looking interesting, because price. Is currently, resting. You. Know it's it's trading right at that baseline and. There's. The stochastic RSI is showing us in an accelerated. Or, an elevated, overbought. Condition, so there is the bias, of being, short here on the. 4-hour. Okay. Or. Just flatten out you know we'll see what happens the four-hour closes. But. On the 1-hour you. Know we're we're, kind of in the same zone here where the top of the cloud here's, the other thing about it Jammu Co when, you see a very, very straight, cloud, when you see a line that has got, a pretty straight line that. Is that, is also a very powerful area, of support and resistance. Any. Flat line like that. It's. Going to act as an area where you're gonna have some difficulty, driving out of it. Okay. So right, now we, can we can really kind of plot out how price, action would move here on the. On the, one hour because we by, looking at the latest ban so there's. Not a lot of stuff in the H MOOC system above us to. Stop. Price, where, it's presently at so price could, very well trade. It could break out of the cloud and trade up all the way to you. Know about this zone to ten, eighty, seven and. Why. Would it stop there because the. Lagging, span. Would. Get up to the cloud here and it may, very well act as a zone of, resistance. And then. We'd have to wait for price to do. A little pullback so to speak somewhere, around here, and then, finally we would have conditions, met on the one hour for Cardinal to be trading above. The cloud and and, that's what we would that's. What we would see. So. Again, you. Know we're it's it's 140, right now and so. This, is you. Know a time, in currency. Markets and in equity, markets where people, are winding down their positions, people, are probably already done trading for the days a lot of professionals, are London sessions, over lunch, sessions over. When. I say that people, are, kind of closing out the positions, the, Nasdaq. Has can't. Dag wish I was trading those futures today dammit beautiful. Breakout lower. Beautiful. Short trade, on the, NQ and then. The for our even that Nasdaq, is looking, pretty, bearish. Oh. Man. Oh man. That is. That. Is gonna be a deep, drop oh holy. Cow. If. The one hour is a good indicator, here ooh I. Mean. I didn't mean to talk about the Nasdaq futures but.
That. Is ugly. August. Isn't really, ever a good month. Seasonally. Okay. But, looking, at that. You. Know we've, got really. Great conditions. Met, for. Bitcoin, at least. And. Bitcoin. Facing. A little bit of profit, taking pretty, normal come, down to the conversion line at 6400. Or so, find. Some support there or maybe on a return down to the base we'll see but otherwise, the. The. Drops if we want to have a bullish sentiment going forward we should be looking forward to the, pullback slower. Which. Will. Entertain. Give, us the opportunities, to start buying those pull backs in a in a, bull trend. That. Should be forming so. What. Is nice to see on the dailies, here, like, on Bitcoin is that we've. Had a very, very strong candle. And. We've. Only faced, selling. Pressure as we've gotten closer, to the bottom of the cloud and to, the conversion line. Also. Note that the baseline is still above the cloud so, there's. There's plenty of room for this to continue to rise. That's. In Bitcoin litecoins daily. Not. A lot to write home about their theorem. Has had a pretty impressive. Clawback. Here this. Is a beautiful. Beautiful. Bullish. I shall. Look at it from this perspective so, here's. Aetherium this, is a beautiful. Bullish, pivot setup look, where aetherium we talked, about this. Last. Week in Monday where you know seeing, aetherium drop all the way down here was, something we anticipated. And it, came down to the eight eight two, eight eight six. Fibonacci. Level which is a very, very very, very powerful reversal. Fibonacci. Level, and. Price. Came. To this Gann angle and the. Lagging span came down to that fib level along, with price. Very. Strong response is, what we're seeing and we, should see that continue, to hold the. Current. Price, action here. We. Should be trading, back up to 372, at some point. You. Know in the next. Week. In. The next seven. To eight trading, days we should be retesting. That that. 379. I would I can, see just from the market geometry, we can see price. Coming. Up to around here, I. Don't. See us breaking lower. Coming. Out to here and then this kind of creates, a really. Interesting. Breakout. Zone for. Aetherium so I want, you to look at this and pretend that there are these channels, in here so maybe if I just draw them with, some. Trend lines and. And. Not. What. Am I looking at, all. Right so we'll go like this. Forgive. Me while I do a little doodle. And. I'll highlight it like oh that is way too bright. About. Bloo Bloo, works. So. These are the angles, that we've been trading up and against, this is the main channel, that we've been trading in, it's. An L pattern, and. We. I mean, we may, be not that steep of a rise we, don't want to see parabolic, movies anymore we. Just want to see this, so Bitcoin, or the theorem could just. Kind of drift along this corridor. Or. Alleyway. Or whatever you want to call it. That. Could be the. Direction. We go or could be trading in this one so lots of lots of different things to take a take a look at aetherium. Has a very. Nice beautiful, base. Formed. Like. I was saying yesterday and, I. Think on Monday there. Was Monday, or yesterday I was saying that these coins have. Not. Traded. In. These. Lows I, mean a lot, of these coins are trading. Below. Their year-to-date. Lows, they're they're trading, from their year-over-year lows, or they're, trading in new calendar, year lows a lot, of them are doing that in aetherium. Because. It was trading, below the the. It's, a year, ago so, if, we look at. You. Know the 13th, we were looking at on the 13th, it was trading at that 275, value area and then, on the yesterday, it was trading above like at that 290, value area but but but, that was in 2017. And then we were well below that yesterday, and now we've rallied back above it that's a good sign of support, that's, a good sign of a bottom and.
Yeah. It's, just uh we're. In mid-august and. So. It makes sense to, have this kind of final. Bear. Trap move lower, to. Get in a lot of the I don't know if you guys have been paying attention to the news stuff I mean, I get all these alerts I want to read some of these to you these are just these, are great this is like how you know you're. At a bottom, so. Here, let's listen get some of these so. Eck's, PayPal, CEO labels cryptocurrency occult and then it's headed straight to zero I love the people who write these news stories because they they, have the easiest jobs in the world and I don't know how they get them because I would love to have a job where, all I have to do is is. Match. The market, sentiment, after the fact. Let's, see. Why. Our crypto currencies, like Bitcoin and, aetherium falling, so much. Well. Let's see. Well. I have a bunch of them. Crypto. Currencies, could fall another 50%. Says. Floor trader. There's. So many great stories that, that yeah between, Sunday. Let's. Say okay here bit Mex CEO says. Coin the theory and price will fall below $100. Crypto. Market, crash prompts, suicide, concerns. See. Where's the other ones. Don't. See. This. Brings it nears no let's see. Alt. Pocalypse. Continues. Our. Digital. Currencies, finished coin based queries distributed, blubber but I mean there was just, there. Was just no end of, the. Cryptocurrency, news pundits, trying to sound more darker, than the than the last good, last guy so, it's. Is really one of those things when you start to hear that kind of stuff that, is the the, perfect, time to go okay. I'm gonna get in this because, I, don't. Know what it is it's. It's. Not even news I. Don't. Know why that's even news I. Mean. It's. Just nuts anybody. Could do that, oh by. The way priceless. Traded down today, did they, that's. Weird I feel, like if I was reading about cryptocurrency news I would know that already. It's. Different if it's a sty so I mean, if people have normal jobs you know and they're there you. Know and they want to know something about the stock market but they want to pay attention to it they'll you, know they might get the Wall, Street Journal or read their email afterward but they're not concerned about the day-to-day price, action really okay people who, are. Older. Than 50, just. You. Know they. Have a different mindset but people were involved in crypto currencies, they're, involved in cryptic like they're checking the daily that not many people in crypto currencies are just to set it and forget it I mean as many people think that they're hot lers there's not a lot of hot lers this market is only ten years old that's, a very short time, frame believe. It or not that's. A very very short time frame in investing. That's it's it's a well. It's a medium amount of time but it's not very long so. A. Lot. Of these news places, that. Don't. Offer very good news and they don't offer any. Thing. Of substance, usually. Shockingly. CNBC. Fox. Business and, the. Wall Street Journal Business. Insider they seem to have much better news. Regarding. Crypto currencies, and and. Large institutions. Then a lot of these these. Other, crypto, news sites I'm, not bashing the news sites it's just I. Don't. Know there's, more things to write about and crypto currencies other than telling, everybody what, the price action was during the day. And. You, don't need people to tell you that and, the. Worst thing that they do is they try to tell you why it was dire they don't, know I'm going to tell you this right away do. Not listen to people who write news stories about. Price action because they have no idea what they're talking about and. They're. Basically. Guessing. Because. Price. Action, moves. Because, it did there, there is not a catalyst. Beyond. A time. Cycle that that causes a trend change or move. Are. There some news things that cause random. And and often violent aberrations. Or fluctuations, in the market sure. Yes. But, they are never the cause of a, brand new trend. So. It's. It's it's, a, pet peeve of mine that there's a lot of these a lot. Of these places try to. Give. An authority, to a, move. In a market, based. Off of one, piece, of. Fundamental. News and that. Is. Right. Louis, yes, yeah that's what they should be doing. They. Should be talking about the technology that like blockchain. Is, I'm. Not an expert on it but I but, but it's important is not lost me I mean this, is essentially. What we're living in right now those of us listening to me, babble and those, of us who are in crypto currencies we are basically participating.
In The dot-com bubble and. Crypto. Currencies are the dot-coms, and blockchain. Is the internet that, is essentially, what we are in right now this. Is a major leap and technology, and innovation this. Is a major change in currencies. And. I. Mean this is this. Is a this, is a big deal, that we're in and and unfortunately. It's just it's, a freaking shame that we. Have. So. Much of, an. Ability to. Reach out to normal, people. Why. Normal, people who aren't, involved in crypto currencies, or there. Should be really no excuse, why, even. People in my spot even people in my small town know what how important blockchain, is I live in South Dakota I live in a very rural rural. State and actually. We're not even considered real were considered frontier, less than ten people per square mile on average but people here know about blockchain. But chokku there's a ton of people who don't and. That. Is the technology that should be focused. On and it's it's weird that it isn't but. You. Know whatever, I'm. Just ranting, there but, regarding. The price action regarding, the trading there is a lot of bullish setups, in front of us here. And I'm, looking forward to taking a lot of these trades, I'm, looking forward to more, of the. Of the. Kryptos. Being. Like bitcoins, chart, on. The, hourly. Where. We see it above, the cloud here, oh, this. Is the chart we drew this on from Monday or Tuesday. What. Day to be jealous I don't remember, this. Is not valid by the way it. Was invalidated, by the, this. Shoulder. We were wanting to cross created. A lower. Low than the head was but. Here. Is bitcoins, doing kind of what we were talking about before I started getting, preachy. Seeing, it pull back down to the conversion of the baselines here pretty normal. Response but anyways. 150. For my, time is pretty, much up here, again. I'm. Gonna be here tomorrow at, 1:00 o'clock again, on Thursday, and for. Forex lens customers, who are watching this recording or watching it live I will see you in the morning at 7:30 central standard time as always the rest of you I will meet you here again at, 1:00 o'clock tomorrow I hope, the rest of you have had a good trading day so far hope the rest of your trading week goes well and have. A great day bye, bye.
2018-08-22 00:56
