LIVE Bitcoin & Crypto What To Expect Now. [trader explains] May 2021 Price Prediction & News

1 so now wow wow magical crown needs a haircut cave  but he doesn't cause i shaved his back   that's right that's true that's that's true  love welcome back to crown's crypto cave it's   a glorious monday over here it's a whole new [ __  ] week we got plenty to talk about see me is open   back up and trading once again bitcoin hitting  our 31 thousand dollar target from yesterday   and we have new opportunities within  this market understand though this might   be displeasurable i see that there's a lot of  new people on this channel today specifically   and uh oh yeah that opening too and that was [  __ ] amazing man was living some raging machine   uh just this morning i was like man how can you  not play this right now this is [ __ ] perfect   anyways uh yes yes a lot of new people on this  channel i should warn you before we get into it   you're gonna be mad you're gonna be very very mad  but that's okay this channel as always is focused   on traitors and it's not that we discriminate  against other you know creeds and religions   whenever the [ __ ] you might be within this world  we just just understand that you know we can be   both bullish and bearish of course and that always  comes up with opportunity that's the main thing   that's the main thing that we want to be having  over here anyways with that said i've been getting   this question a lot recently crown is this a bear  market is this a bull market look at the end of   the day this market's non-binary how about that  it's [ __ ] market fluid and it can go from bull   to bear in a goddamn second and at the end of the  day technically speaking if you go by the textbook   definition which a lot of people been arguing with  me uh with with me on this which uh you can you're   free to argue but fair enough this  is this technically the definition   what do you want to see on an actual uh macro  downtrend on an actual macro bear market you want   to see at least a [ __ ] weekly downtrend and you  want to see all major move now just training with   lower peers traded below higher periods and we do  we see that right now no does that really matter   because bitcoin sells like a 50 to 60 drop down  yes no my point is is that at the end of the day   you know regardless of whether regardless whether  you're bullish or bearish man this market can   [ __ ] zoom both the upside and the downside and  so i would actually even just say that that's more   or less a talking point for people to kind of get  pissed off at and you know you know put moonboy   and doomboy hopium in dopamine too at the end of  the day it doesn't [ __ ] matter for a trader just   make sure that you have your level set off and  your biases uh all accompanied for and obviously   your risk management what's up mr josh there he  is he definitely managed this risk i [ __ ] know   that he manages risk because i've been speaking to  him to him for a while he got out of [ __ ] vet at   like the perfect top what's up back here bears  today yeah man uh elsa actually shaved me she   actually shaved me trying to make a move on her  last night and she laughed at my face do you know   how demoralizing that is it's really awful anyways  uh okay so into the crown chat application we go   uh let's waste one more time because we've got  plenty to talk about today fear and greater dex   at i believe the lowest that we have seen on this  jump on this drop thus far quite literally a 10   read we haven't gotten to single digits just  yet but anywhere around here is like extremely   fearful now with that said does that just mean  that you blindly [ __ ] buy obviously not because   you would have done that about three days ago  three four days ago and you would have probably   held about a uh almost ten thousand dollar loss  from forty thousand bucks to thirty thousand   dollar low anyways with that said this is you know  um a sign that is more on the side of saying hey   oh well i do think that bitcoin could could  potentially uh continue on downwards from here   i wanna start looking for some signs of  bottoming at the very least for short-term   timeframes because again this asset can [ __  ] move very very very very very very quickly   and even if it does put in like a short-term  bottom on on a four-hour time frame i mean that   can account for like uh you know a 10 move or  so which is very much tradable anyways bitcoin   don is also sprucing up as well so all coins  are going into bitcoins on the whole that does   that does imply that as long as bitcoin is uh  running this market in this case to the downside   then it's not going to be too damn good for the uh  for well for the all coins out there unfortunately   now i'm sure that there's a few uh outliers here  and there who are actually doing well hey what's   up mr hamilton there he is i've been trying to  call it a bearish phase yeah i'd say i'd say   bearish phase is right i mean you know you can't  just discount a 50 percent uh you know a 50 or   60 downside move obviously but you know call it  what you want to call it that's that's the actual   data that's the hard that's a hard and fast facts  it's like it's a fifty to six percent downtrend   so at the end of the day remember when we came in  from this area way the [ __ ] back on over here   on the market tab uh we do see that bitcoin took  out that last low this was really where this   started to look like actual distribution this  is what told this channel at around that move   to uh what was it about forty nine thousand bucks  just below fifty thousand bucks on that first drop   that hey it's time to be looking for a lower  high because this is risk on right now where   do we get our lower high 59 000 bucks have  we got a lower high since then on the daily   no we haven't we actually haven't which is really  [ __ ] uh concerning because at some point bitcoin   whether you're bullish or bearish will pop  back up and then you got to play the game of   is this a lower high or is this a reversal in  progress and we just need to be patient so at   the end of the day this is incred this is still  a massive risk on for the long term right now   you know long term i still do think that bitcoin's  probably gonna be more less fine but you know how   long could that be could be a year could be  two years could be whatever the [ __ ] uh   personally speaking though i still do think  big i would still give bitcoin a chance to   bottom out or at least try for a bottom here  at the low thirty thousand dollars region or   upper twenty thousand dollars region what's up  brother christian sir there he is good morning   brother crown the plan is underway and the clergy  have not deviated god bless sir my [ __ ] man   we are in god's plan we are in god's hands and  we have our we have our own cave priest right   now blessing this place and that's exactly what we  want so hopefully brother our sister margaret is   not possessed anymore because it sounded like she  was having a bad last week but now now now is the   time to be looking for opportunities in my opinion  anyways uh what else do we see over here opening   continues to fall down a little bit more i think  we lost about another uh half a billion almost   from yesterday to today i believe it was  actually below five billion last i checked   yeah it was and actually just uh it actually just  moved up a little bit there with price action now   realistically i want to see this on a daily time  frame to really you know clarify moves and whatnot   that's where it matters most is that's where it's  gonna be mark two but overall i would look at that   as you know a small signal again saying hey while  i think bitcoin probably does maybe give another   go at like 32 or 31 000 bucks i i would look for  signs of bottoming around there i think it's been   pretty damn beat up and it's not asking for too  much to it's not asking bula jesus for too much   in order to get a bit of a bouncer even on like  an hourly or something which again you know   this asset can move thousands of dollars uh rather  easily as this is incredibly [ __ ] volatile times   in fact we are at you know well well uh speaking  like the extremes right now of course which we'll   show in a second anyways uh the funny rate  over here is actually i think positive now   nope it's not global for anybody it's still  negative so again another signal saying hey   you know yes yes bitcoin prize is a little bit  of short-term downside here but uh i would be a   little bit cognizant of this you know we're seeing  bitmex in huawei now now payne long's uh not 0.5   in order to hold their long finance uh bit  uh by bit and okay extreme about the same   but to a lesser degree and then derivative just  barely [ __ ] positive and same thing with crack   and barely negative right there so overall you  know i do i do think that we're rather close to   at the very least a relief rally um you know  after that first markdown phase and that first   redistribution phase again looking at this as a  y cough top we'll go into the market analytics   for the options market here too i'd say this is  a little bit more damning to be quite honest with   you as we do see the put call ratio now going more  in favor of calls once again so yesterday this was   about like 0.61 now it went up to about 0.76  but there's a couple things hidden within this   data right here which i think are really really  really really really important to be cognizant of   this 33 000 strike with the puts uh you know  grossly overweight anything else on the board   does kind of tell me that by expiration we  probably do close at the very least somewhere   around there probably above there and [ __ ]  the put buyers who are just looking for the   for the lottery tickets because what are these  put buyers like they doing they're likely   they're likely not just putting on naked puts  very you know professionals do not trade like that   i i don't i just not only do not trade like that  like your [ __ ] compliance officer and your   risk management officer is gonna like call you up  and chew you out as i have been in the past myself   and uh and what's probably happening is they're  either spreading these out or or they got the or   they got the strangle on it actually could be  a 37 33 strangle and we just played between 33   and 37 for a while i think that's very uh that  you know that's very reasonable here too um or   or they actually discover it and those and that  becomes a synthetic long position now doesn't it   anyways looking at the uh i want to see where  the expiration on this is yeah we do see that   still calls grossly overweight in anything else uh  playing the may 28 regulars that's going to be the   end of this month and then the june uh monthlies  as well uh big time right there and of course   that does provide a bit of a range so i want to  see how this kind of uh uh evolves into the end   of this week we're on the 24th day of may right  now it's almost june and i'm really excited for   that because i get to get to play chivalry 2  which i'm really excited about massive nerd but   recently i actually haven't had too much of a  chance to play video games because training is   the best video game anyways yeah this month coming  to a close relatively soon so we actually should   check out on the monthly today but before that  um well let's actually go to the price section   charts let's let's just let's waste no more time  my friends let's waste no more time and what   do we see over here on cme actually let's go to  this chart over here so cme obviously open on a   down tick as we did say was likely coming in from  sunday uh school sunday's dump party we did hit   that 31 thousand dollars target and i just want to  spend a little bit of time on cme chart right here   funnily enough remember those strikes that we  just saw on the options market guess where the   200 simple is well right around 32 000 bucks  and climbing and where's the 200 expense in   average right around 37 000 bucks and sideways  af so what does that imply it implies that we   probably remain in this range probably for this  week you know you're probably going to see maybe   some wicks above and below but ultimately i do  think it's going to be a bit of a rangy week   um as bitcoin does test both the downside of you  know well you know of our current dump and then   probably does you know put in a bit of a uh you  know put in a bit of a relief rally but again   looking at this from a wyckoff structure i do want  to go over kind of what we spoke about yesterday   i don't want to do too much repeating so i will  just point your eyes and or your ears uh your ears   and eyes actually in the direction of yesterday's  video on the long-term analysis playlist as uh   that's going to go into much more detail with this  and i won't go through the full thing here but   ultimately this was a textbook why cough top  uh again the full-on confirmation was that   move below 50 000 bucks that's where we really  started to like get actually bearish you know   again that was also continuation of downtrend i  just want to spend a second talking about trend   look trend is one of the most simple ways to  trade and it's uh to be honest it's one of the   most effective ways to trade as well especially  daily trend for bitcoin um and uh and and weekly   as well although it doesn't happen as often but  as you can see right here i mean these are just   phenomenal moves now we obviously have hit the  measured move off of that y cough top just kind of   take the breath of this um you know of this range  right here and that would be pretty much down to   about where we're at right now maybe a little bit  lower that's a little bit more of an aggressive   read as i just did but ultimately when you are  getting a y cough um sort of signature here   you get this first sort of distributive top right  here here's a confirmation on the break below 50   000 bucks and then we got a first throwback not  at not at 45 000 bucks not at 40 40 000 bucks but   a [ __ ] 30 000 bucks all the way up to about 41  000 bucks that was a quick rejection and that's   why we came in bearish over the weekend very  likely looking for more downside um which we   got and now it's time to be looking for a bit of  potential you know or at least i would open up the   um i would open up the doors for a potential you  know accumulation phase if it does want to happen   right here anywhere around low 30 000 i do think  is uh you know it is reasonable but i want to be   very [ __ ] specifically specific in saying this  look if you are looking to invest in this asset   which i'm not an investor myself i'm you know  i'm a trader i'm just a simple trader a very   low iq so i you know i don't like holding things  for a long time i just can't sleep in it as well   but um you know i wouldn't even consider calling  this hello unless of the next few things that   i'm going to talk about are met of which none of  them have been met just yet so first and foremost   i want to go over here to the hash ribbon signal  we've been following this one for a while this one   was also kind of helping us uh not not just dive  into any like long-term longs above especially   50 000 bucks and now and now looking pretty damn  good on that and we still do not have that blue   buy signal i won't go through the iterations  on this video here i did it yesterday and you   again are more than welcome to check that out  in the long-term analysis playlist but we go   through all these iterations on this and until we  get that blue bicycle over here i wouldn't even   consider that bitcoins put in like a major low  that is or or especially a macro low in this case   and then even after that you know typically takes  about uh you know about a week to two weeks on   average for it to actually get that next momentous  move uh in the upside direction so in this case   right here we still don't have it and they're  actually diverging away from each other so it's   you know it's not happening it's not happening  right now it's not gonna happen anytime soon   as you can see that you know we want them to  actually uh will actually remain in like a bullish   polishing so not [ __ ] good right there obviously  and that would be another risky sign so until that   happens i i still do not just feel uh you know in  any way should perform uh comfortable calling like   a major low of course that we'll probably call it  a little bit after the fact to be fair but that's   you know that's well that that's that's being  safe rather than sorry in this case the other   big thing that i'll be talking about right here  that i really want to wait for in order to see   uh some sort of a macro or not even a macro low  but like a major low you know probably like a five   to ten thousand dollar five to ten thousand dollar  rally how ridiculous does that sound i mean it is   true uh would be the full hour would be would  be at the very least like a low term time from   like a four hour putting in a reversal problem is  even on the four hour where's our last lower high   well before we we had it at forty five thousand  five hundred then we moved it down over the week   uh over last week to about 41 500 then over  the weekend once again to 38 500 and that's   where we are right now so as long as bitcoins  below this region right here there's just no   in there just no talk no talk at all whatsoever  of like any you know major uh reversal within this   region personally speaking i'm looking for bitcoin  to test again on the downside somewhere around 32   to 33 000 bucks and at that point i'd look for a  little bit of bottoming signals i do think that   we are starting to show some signals of a little  bit of uh you know of you know of a little bit of   bid catching in the low 30 000 region i like these  wicks right here i like the volume again on this   one right here and i do like that bbwp did print  you know quite literally the extreme the extremist   the extremist read it can possibly do um as it  did get all the way to 100 tile so if you're not   familiar with this indicator it's a volatility  based indicator i really really really really   really like volatility bits indicators for kind of  judging when you know things are at extremes and   when are things out of streams well when they're  on like major highs and major lows in this case   and we did get uh 100 on the 21st of may and then  yet again to uh yesterday at 23rd of may and now   we're on the 24th of may and another thing that  i'd like to be looking for here is i'd actually   really want to see this moving average on it which  you see right here i'm actually running i forget   which period i'm running on this a 16 period right  here actually a 16 period um and and i've been   testing a few strategies with this it's actually  pretty damn interesting um but what i really want   to see is i want to see that moving average get  above the bbwp and then trend down something like   to what you see over here these typically do  denote short uh these typically do denote like   pretty you know respectable reversals um so uh so  so with that in mind you know you can i can give   you a few examples i think a really good example  to go over would obviously be coronavirus dump   times over here you can see that we hit a 100  percentile so very you know some i wouldn't say   similar but you know somewhat uh relatable to  what we're doing right now as far as volatility   goes and then it's not intel that actually got  below this moving average right here where bitcoin   really started to actually you know continue on  with that trend i think that it was you know a   lot risky before that but that happened right  around here on this higher low so i actually do   like that and and again a bit of a timing signal  it's not going to get it exactly perfectly but   you can see that we have you know we we have some  time here so even if you are a long-term investor   i would i would perhaps um you know bring up the  question in your mind hey uh you know even even if   you do think this is going to be like the next  major low the next [ __ ] macro before bitcoin   goes to whatever ridiculous target you have in  your mind you know i think that it could probably   get to some like of those ridiculous targets but  people are talking about like [ __ ] 100 like   200 000 in a million dollars and just like that i  don't know man that's that's too much for me um uh   you know i you know i'd have at the very least  want to see something like that there's no rush   is what i'm trying to say i want i really want to  see bitcoin like drop into this region and put in   about a similar formation sorry a similar amount  of time as what we saw in the top side formation   over here a general uh but not necessarily  hard rule of y cough accumulation distribution   is that once you see the distribution you kind of  want to see a similar as you know similar length   of accumulation in order to kind of get the next  uh you know the next next major low hey what's   up hoju42 he says looks like the dollar is what  is sitting on daily support ready to go lower s   p and now stacker consoling for another move up  bitcoin to 500 000 bucks okay so that would be   the bullish uh that would obviously be the bullish  narrative here so i do want to bring you over to   dixie now where where's my damn dixie uh ninety  percent right or sorry not ninety percent but uh   but ninety bucks right here yes it is basin right  on this area mount but um you know i i look it had   a chance to break last week it didn't [ __ ] take  it it's going to have another chance to break this   week yes it does look bearish yes it does look  like it wants to turn it down yes we do see almond   mixture also it is pretty much south side angled  on higher trim time frames i mean we even selling   off the same trend line from december 2018 and uh  and i would say that you know this is looking more   or less like it does want to give another try this  week but until we actually get that breakage of it   this is a macro bottoming area and if this is  a macro body main error you do have to play   you know anything against a dollar you know like  dollar assets uh as risk in this case and so i you   know i like i said it's very likely to test again  this region it might even break it might even   break uh this week but until that happens i mean  this is this is concerning this is very concerning   on top of that i mean you know obviously  uh rsi right here is very bearish as well   i'm sure that someone's going to say that there's  a bullish diverse building right there there's   actually not just yet uh we'd have to close on  lower lows and we don't have that just yet and   this is also you know a downtrend on increasing  volatility here too so i do look at this as very   you know i still risk on in this case um but there  are a few you know uh harbingers of maybe peace   and prosperity for the boo laws out there as we  pour one out over the weekend's uh woes anyways um   what else did i want to bring up yeah nasdaq okay  so traditional markets i do think are going to   play relatively well with bitcoin and the fact of  the matter is is that like we said last week look   as long as this is holding the range right  here oh [ __ ] deleted my chart how dare you   how [ __ ] dare you i bet you elsa deleted my  chart because she's she's she's vindictive is   what she is um but you know i'd be looking at  a range like this i do think it's going to bake   in this range for a little bit longer as we said  last week and then the resolution of this range   is probably going to be bitcoin's direction as  well problem is if this one breaks down well   i'd be looking for further downside on bitcoin  you know probably 25 000 bucks uh which is still   very much relevant but at the very least i'd  give bitcoin you know another chance to kind of   uh grind out this low 30 000 region and then  uh and then and and then try at least for like   a pity bounce and perhaps even a reversal but  where do you talk about like full-on reversal on   bitcoin at this point so it's similar when we were  kind of judging the reversal above 50 000 bucks   about a month month and a half ago right here  right okay so what do i mean by that well i just   lost my train of thought so i actually don't know  what i mean by that uh yes okay now i remember   what i uh now remembered what i was getting  towards so remember this remember when we came in   and we put in our first lower low on the daily for  this whole goddamn rally right here um on this you   know on this last expansion phase well what did  we do after that we took a uh we take a we took   a bearish fibonacci retracement and guess where  guess where the 618 came in right around 58 000   bucks and that was our last closing high that was  essentially your lower high before continuation   down we can do the same thing here too assuming  that this will put in a low again this is making   an assumption right now this is not a confirmed  local low as it stands at all what so [ __ ] ever   i want to be very deliberately clear about that it  is not a low right now however if you do start to   see maybe later this week a few more weeks within  this region and bitcoin still maintaining let's   call it like 35 000 bucks then i would be doing  something like this i'd be doing something like   this and these would kind of be my my areas of  interest to the upside of bitcoin want to put in   a bull trap but again it is technically speaking  risk on or sorry risk you know risky behavior as   long as bitcoin's especially especially below 50  000 bucks that is actually the the 618 right here   so traditionally speaking uh you know a lot you  know a lot of assets like to put in their bull   trap somewhere around the 618 um sometimes you see  it on very weak assets around the 382 in this case   um and on like and just on like complete dog [  __ ] you'll see at the 236 but uh in this case i   i don't think bitcoin's like complete dog [ __ ]  it's just a little bit dog [ __ ] um just a little   bit dog [ __ ] there's no big deal with that um  but overall you know these are the areas that i'll   be keeping an eye on um now i feel like i lost  my truck once again this is very very bizarre   today what's going on here man what's going on  uh let's see nope no i don't have that one uh   are you [ __ ] kidding me i swear i swear what  the hell okay elsa is definitely trolling me   today um so overall you know do i think that  it's possible that bitcoin could do something   like this and put in like a you know a three  to four month long consolidation on the lows   and uh maybe dip a little bit lower and try one  of these yeah i do think it's possible and and i   know that a lot of people right now want to get  super [ __ ] bearish look i can definitely get   super [ __ ] bearish as well but uh after about  a 53 54 drop down uh from prior highs is that   is that the time to really be shorting just  you know by [ __ ] probabilistic standards   probably not probably not uh even if you do you  know if you do want to show this you're probably   going to get an entry higher um assuming that  that is what you want to do but again i'll bring   you back to cme chart over here i do believe that  cme chart does uh does matter more than any other   chart and uh you know it's you know i i would  still be looking at another bounce somewhere   around about thirty two thousand bucks or thirty  three thousand bucks uh respectively now what   would be my conditions for further continuation  to the downside uh can we go off structure here   that's a real question um we can we can't really  on the short-term timeframes cause it's a little   bit too uh it's a little bit too close there to be  fair if you go to a 12 hour where'd my where'd my   continuation point be i'd say about 31 000 bucks  on a closure uh you could probably you know you   at at that point i'd start to look towards the  mood towards about 24 to 25 000 bucks yes it   is certainly possible but again as a trader you  know i i want to see i want to see proof of that   move first i mean this has been a really really  really really really aggressive move down here and   typically speaking after you do hit extremes on  your volatility you're gonna at the very least get   like a pity bounce and i think that that's likely  what we're going to try around this region i mean   even if we go to spot price action we see that the  377's coming in right around guess where 32 000   bucks so i do like that area and are we showing  uh would be would be putting any potential bullish   divergence um it's possible yes but it's certainly  not it's certainly not uh it's certainly not not   not close just yet uh so that is its potential but  certainly not confirmed in any way shape or form   if we go over here to cme chart i do want to point  this out uh we do have this trend line coming in   from our major lows out about uh november 2018  around 3 100 bucks um connect or sorry i guess   it would be december 2018 connected with our  coronavirus dumplings we're actually hitting that   same trend line on cmu rsi specifically again  a little bit of hopium right there to be fair   but uh i'm curious if the dual cell signal on  the weekly has fully played out now let's go   let's go give it a bit of an analysis over here  and yes here is your sell signal on the fifth   of [ __ ] april the ju the weekly jewel plus the  pi cycle indicator [ __ ] man for all the people   who down who doubted the the pie cycle indicator  myself included myself included uh well definitely   eating definitely eating our words now but you  know again i do put trend first and at the end   of the day i'd still stick with that i do you  know i i i do feel quite good about that club   especially below fifty thousand bucks and being um  and being very cautious on that last bounce there   to kind of toot my own horn i probably just sound  the egotistical apologies on that it's not my   intention but at the end of the day i just want to  highlight the fact of how important um obviously   uh what's it called just trend is trent trend is  your friend if you just let it be and in this case   right now all time frames are down trending um  as long as we are below about a weekly actually   the weekly technically not in a downturn just yet  it's pretty [ __ ] close to going into one though   if it closed below this last weekly low right here  at about 32 000 bucks it will and at that point   you know you're gonna have targets down to 25  000 bucks and i i you know you probably need to   bounce there but uh do i think that it stops there  i mean at that point you know you could maybe even   look for for 19 to 20 000 bucks uh you know in uh  before before it's all said and done so again we   are kind of we are kind of at a uh a very very  interesting point here um for pretty much all   tr you know uh for pretty much all traders but  it's still gonna take a little bit of time here   and this is really you know a moment for like  technical traders to kind of do their duties   and uh and of course and of course the quant  firms doing doing arbitrage and whatnot too   i mean this is really a time for them to shine  and where they're gonna make a [ __ ] ton of money   uh but uh but you know investors right now i  don't think that there's a rush in this asset   and again you know these moves they can be rather  seductive even on the short term timeframes like a   four hour right here which i see people say four  hour short term time frame what the [ __ ] man   you're telling me the four is a short term time  for it's like yeah actually i do think it is   um especially on bitcoin again if you just follow  the four hour trend uh well it's been pretty good   to you ever since about 58 000 bucks on that lower  high so uh so i'll just kind of call it like i see   it right there but i should i should denote  this uh let me just take a let me just take a   sip of this coffee first and then we'll get  down into it all right there we go there we go   okay so i i do want to call this out as well  we are seeing um a lot of divergences a lot of   bullish evidences build up on the lower and medium  term time frames i believe here's our full hour   building multiple drives uh getting the last low  right here again i actually do think that this   will probably come back down and test around the  low like 32 or 33 000 bucks but uh but ultimately   if we do take out i guess that would create this  is a you know as a local high then uh then then   i could be looking for a greater move probably to  about 37 to 30 a thousand bucks by to guess uh if   we go over to 12 or do we have the same thing in  order as well uh no actually we don't actually we   don't uh not yet at least uh there is no confirmed  local lows right here in fact we did get a death   cross on the 12 hour um i'm not a humongous fan  of the death cross on a on a time frame like a   12 hour it doesn't have great results historically  speaking but excuse me highly unprofessional today   as always let's just talk about this over  here too how about this we'll get to that   later baby iron musk you're at the bastard  um anyways uh yeah looking at this right here   no not a confirmed local load just yet and uh  and and not even resembling one uh as it sounds   right now um and what would be needed in order to  confirm this is a look low i'd want to see at the   very least like a closure above 36 thousand bucks  on a 12 hour uh and then yeah you could probably   target a move up to at the very least a 10 symbol  but i i'd prefer the 21 in this case that will be   naturally coming down as it's currently hanging  around about 41.5 region and that'd be your last   lower high on the 12 hour here too so it'd still  be training down overall still be you know risky   from uh you know risky from a medium term time  frame perspective again it's a time to be a   ranged trader in my opinion it's not the time to  be uh it's not the time to be like a [ __ ] hero   trying to get the ultimate low um in this case  uh i i don't even think that that's like a worthy   i don't even think that that's like a worthy thing  to do as an investor to be quite honest with you   you know you have when you're an investor at least  if i was an investor i would be thinking in terms   of opportunity costs as well it's like you don't  want to be [ __ ] sitting in something that's not   moving for a while too and regardless of whether  you're bullish or bearish even if you do think   bitcoins you know gonna bottom out right here  at 30 thousand bucks it's probably it's it's   not going to be bottom out of here it's not going  to just [ __ ] leave the train station and then   you'll never be able to get in again at least i  would highly highly highly highly highly doubt   that i'd be very much willing to put my name  on that um although maybe i do that at my own   behest because that's usually a bad thing to do  hubris is a hell of a drug my friends anyways um   you know i'd i'd more or less be looking for  like if if you see bitcoin base out here for like   three to four months that's at the point where  i really start to say okay this is you know this   started looking interesting for perhaps another  upside move uh john johnson says sir what kind of   music are you bullish on take care i'm definitely  bullish on rage dance machine this morning but uh   you know it depends what sort of a mood i'm  in man i i listen to all sorts of just weird   [ __ ] um so you don't you don't want to [ __  ] listen to it but you know what i was really   enjoying man was finland's uh finland's um uh show  at the eurovision concert this past weekend it was   [ __ ] epic man uh honestly like they they they  really put on a show they have such presence on   the stage and uh in such swag man you know i hate  that word but they really do deserve it like that   was that was [ __ ] special man with all the  fire and everything it was just a great great   great great performance and uh you know those  sorts of things i i have a lot of respect for   i just think it's so [ __ ] cool um and uh and  it's you know you know even if i wasn't living   in finland i'd still i'd still say that that was  pretty [ __ ] epic right there that was super   [ __ ] epic right there anyways um his favorite  is cocaine bob sager says boss 89 no man actually   i'm very much not a fan of cocaine i feel like  cocaine just makes you into a [ __ ] [ __ ] and   more important for whatever reason for whatever  reason cocaine everyone on [ __ ] cocaine always   wants to start a goddamn business with you like  thinks you're gonna rule the world it's uh it's   a very interesting drug but uh i think coffee's  coffee's strong enough already man coffee's   strong enough already anyways um what else do i  want to get you before we get into the fun stuff   uh or into some other things i want to call out  something that um that that one of our community   members here actually uh brought to my attention  mr renee j big shout out to you sir so this   was uh the or what he essentially described  was um something that i alluded to yesterday   but i didn't expand on and actually i actually  hadn't really back tested myself but look uh   looking at this what's up chiropractor finland  was the best man by the way heard bitboy uh   love you and watch the cave yeah man i mean  that's awesome you know uh you know mutt you   know much love to mr ben over there uh he's got i  mean man he's got like the biggest [ __ ] channel   this whole goddamn space crazy absolutely [  __ ] crazy uh so hopefully you know hopefully   these sort of times are going well for him as well  um but uh but yes what was i just about to say   ah [ __ ] i lost my trains of thoughts here yes  that's it ha all right referencing mr renee j so   i i alluded to this yesterday i did not expand  upon it and i haven't done the back testing so   why should you do it right now um he said or or  what i said yesterday was bitcoin got its first   open and closed below the 200 simple i believe  this was on saturday this was kind of a big deal   because you know when you break a moving average  it doesn't mean too much on its own when you open   and close below it that's like you know confidence  within the market and we have confidence within   the mark uh right here especially with the  200x benchmark i'm just actually getting   a little bit of a negative slope there the 200  simple get the negative slope as well then well   if you like bitcoin at 40 000 bucks you're gonna  love it at 15 or 20 thousand bucks uh but again   long ways to go before that hey what's up  abbott dynamic after the bitcoin take yeah   man uh could you share any pro tips on improving  yeah absolutely uh yeah we could definitely talk   about that i actually really enjoyed those topics  man because it's stuff that i spent a lot of time   thinking about because i struggled with it so much  when i first began i still do sometimes too so i   can i can definitely i can definitely share  a few tips uh that i've been put in my life   uh that can uh that that uh that have certainly  helped me and added value anyways um so yes we   got our first open enclosure below the turning  symbol on saturday and any time that we've done   that in the history of bitcoin and again i haven't  i've been back to this this just yet but uh but   but i'm gonna go with renee right now and any time  that we've gone that uh bitcoin's dropped off well   let's see we got our first one over here and  get our first one over here open enclosure below   base base base and then from next top next  top to next low about 15 and a half percent   uh nasty but um yeah nasty i mean we kind  of already have a move like that i think   uh same thing over here on this one this one  obviously led into your next major dump on this   region at about oh dear lord okay that one's  uh about 30 as you can see um then where's the   next one after that uh that was chronovirus dump  time so you already know that one's going to be   extremely aggressive all the way down about 41  drop down after that uh what about before that   yes we have to go all the way back to 2018. um  again an opening close below here actually this   one would not be a good example so that would be  an out or sorry that would be thus far an outlier   and an example of this actually failing so i'm not  certain how much i trusted just yet open enclosure   below here next to rally up to next low what do we  see about a 30 drop down okay and then it stayed   that way the whole way through yeah the next year  and a half it looks like uh any other times before   that that we actually traded below there again on  this example over here really not a really not a   good iteration of this you know at most about  nine percent uh nine percent down or actually   no no this one's probably a little bit more here  so let's give it it's it's full merit uh 17.5 down   okay so still still respectable i suppose um and  then after that uh we have a couple more over here   which i'm just curious what are we what are we  looking at on this one fifteen and a half percent   so you know it does look like um you know it you  know it does it does have some merit but have we   already done a move like that i think so actually  uh let's see yeah about 20 move off that so you   know we could reasonably say that perhaps that  sort of a signature has already played out so you   know what uh now that i've kind of gone back in  time and looked at it uh you know i i definitely   appreciate you renee bringing that up um however  i would say it's relevant yes uh however i i think   that you could just as easily make an argument  that we've already played out that move i mean 20   is pretty [ __ ] pretty [ __ ] big pretty [ __  ] big man all right um behold haircut at 25 000   bucks no way man i'm i'm i'm shining this [ __  ] forehead as long as i can my friend i'm gonna   get fake hair too it's no problem one day you're  gonna see me in like uh in like a full in the full   face of hair i'm gonna have like straight hair  too instead of this nasty curly nappy headed   [ __ ] hair and and it's gonna be glorious my  friend but when does that day come well hopefully   a bitcoin rally seemed that i can do it sooner  uh no just kidding um well maybe not hey what's   up there he is caretaker yeah man we already  already checked the hash ribbons earlier it's   not giving a signal right now and it's still it's  still nowhere near to be honest with you as well   oh there he is what's up mr decamps yeah man we'll  get to uh we'll get to we'll get to matic usd um   uh we'll get somatic usd i think um i think we'll  go back now to mr abbott dynamic or actually   before we go to add a dynamic let's go over here  and see what momentum is suggesting on our on   our tertiary charts mr character cause stc on the  weekly still pretty nasty pretty [ __ ] bad here   massive [ __ ] range here too but i don't think  that the weekly is going to be too helpful on   this maybe the daily is going to be better on  this one and yeah we are starting to see daily   mental monsters pop back up here a little bit but  keep in mind 47 or sorry 47 uh 40 30 oh my god i'm   dyslexic 34 750 is is that magical number if we do  start closing below there it's pressure onto the   downturn once again um probably know the tests  towards 31 000 32 000 bucks at the very least   i mean at that point yeah it doesn't look good it  doesn't look good man um let's see what about the   12-hour right here elsa's having a laugh party  in the background uh 12-hour down some momentum   as well as long as below 36.5 i'm gonna take  a i'm gonna polish off the rest of this coffee  

oh i spilled myself i need a sippy cup um she  thinks that's funny you're gonna have to clean   it up so that sucks for you uh 10 hour same thing  four hour four is actually up right now but very   weak thirty three thousand bucks gonna be the uh  gonna be the magical number there uh three hour   33 same uh two hour 32 720 hourly way the [ __ ]  up there uh so yeah you know i would probably be   looking for another downside move on bitcoin and  then probably try another low somewhere around   32 to 33 and then we'll see how and then we'll  see how you know if if and how it recovers from   there if we get another closure today let's  say let's call it above like 35 000 bucks   i'd probably be looking at that as you know bouncy  bounce territory maybe for something uh later this   week play between you know what we said earlier  about 33 and 37 000 bucks maybe a few weeks above   maybe a few bucks below but overall i think it's  going to be you know a little bit more boring uh   these next uh maybe not this week but probably you  know starting next week you know junior match is   going to be a more or less boring month um and  that would actually be good uh it'd be very very   bad if bitcoin actually does drop out this current  low because that's when well that's when you got   to start to move those targets down to 25 000  bucks and beyond so there you go all right sweet   um okay so let's get to let's get to abig dynamic  he has a really good question over here and um and   this is actually something we can definitely cut  out and upload to this channel as well oh no my   hourly is wrecked my hourly is wrecked oh we got  you we got hourly hit and bearish evidence hold on   maybe i should check out this here too uh by early  uh no it doesn't have it okay so fair enough what   about momentum offset is tsi starting to actually  you know you know catch a little bit of momentum   here too uh some right there what about barley  same thing what about hourly yeah and this also   can be looked at as as as bullish diverting so  you know again i think that we're relatively close   here i have pretty much a lot of the same things  to say but just another sort of test maybe down   around here okay so so so so abbott dynamic says  hey sir hope you're well uh i'm doing all right   man got a decent night of sleep last night hope  you do hope you had a great weekend as well man   and uh let's see after the bitcoin ta could you  share any pro tips on improving discipline in both   trading and life goals okay so trading trading  is life like what you do in trading is basically   how you live as well like i actually learned  a lot i probably learned uh i probably learned   a lot more about myself like my actual self and  and who i am and like that i'm actually not you   know i used to think that i was like really uh uh  emotionally sound and like very uh and very stable   no man once i got into trading not so much not  so much man pretty [ __ ] crazy so uh elsa can   definitely attest to that and i'd hope that she  wouldn't because it's gonna be embarrassing to   sell anyways my point is my point is is that  trading is essentially an allegory for life   you know they are one of the same the way that  you do one thing is the way that you all do all   things and in trading what have i done in order  to improve discipline okay so the the the easiest   thing the the biggest quick fix that i've done  in trading specifically specifically trading um   to to essentially uh impose discipline was  creating a trade journal and a trade checklist   now that essentially gave me a road map and a  guide that i could always essentially follow   that would play into my long-term sorry you know  my actual plan because as i've you know as i told   that story last week when i actually blew up  my account you know years ago it was a matter   of coming back and realizing that deviating  from that plan is where i you know get wrecked   essentially and if i continue to deviate from  it then i will naturally get wrecked over time   you know i won't go into the full spiel right now  but just the main points are is that trading is a   game of statistics and probabilities and if it's  a game of system probabilities where you can't   necessarily be perfect it's a game of essentially  risk management and also well knowing you know   knowing your targets you know no you know knowing  your entry profit profit taken and risk management   in its essence so if you can't define those three  things and make a plan that's based upon that   with some sort of a statistical edge that does  give you you know at least some non-zero chance   over time not you know not non-zero probability  over time to uh to make money you can actually   reasonably make a plan now obviously you know  the higher the hit rate is the better but you can   still make it work even with you know even with  the subpar hit rate uh assuming that you know the   the the results for it are really really good  you know it's an interplay between all three   uh anyways okay so the main thing would be  creating that trading journal and also the trading   checklist the trading checklist was essentially my  strategy written down where i would go in before   every [ __ ] trade every goddamn trade and i'd  say does this meet my current trade criteria   if it doesn't do not take trade it sounds simple  it sounds very [ __ ] simple but here's the thing   most people won't do this like it it it boggles  my mind to no end and it actually makes me like   quite literally angry i don't know why it makes me  angry it shouldn't it's not my problem or i guess   it is it's a problem with me psychologically but  it makes me [ __ ] furious when someone comes to   me and says crown i'm trying to learn trading  and like especially if they're in the program   or something and uh and and and i need some help  it's like okay can i see your trade journal do   you have a do you have a plan they're like i keep  it in my head oh okay uh this person like you're   [ __ ] man look this game is this game is hard  as hell and and i'll be the first person to tell   you that most people will not be successful in it  not because they're not capable of it just because   they don't do the [ __ ] bare minimum a very  goddamn least like understand if you have a chance   to do something that can potentially you know  potentially give you a living potentially give   you a living especially for the you know for the  very serious people out there you got to do the   bear goddamn minimum because other people are and  if you are you know if you know if you are kind of   competing with other people which actually don't  think that trading is necessarily competition it's   more or less competition with yourself but in the  in the essence of this uh this specific example   we'll kind of use that then look you better  be doing the goddamn bare minimum in order to   at the very least think that you have got that  even think that you have a chance in this game   josh says i need help uh with good examples of  a good trading journal where can you point me to   okay so a good trading journal is uh i would  actually point uh josh you're in the ta program   reference the video in the i think it's like  the second section the second or third section   it's titled trade uh checklist  that's that's that's probably that's   that's probably where where uh where you want  to go the trade journal is more or less just   documenting your results over time but the trade  checklist and actually it's basically just a plan   is getting your plan on paper so that every time  you take a trade you have to like literally look   at it and then say does this mean my criteria  if it doesn't i cannot take this trade and you   have to force yourself to literally think about  that every goddamn time because a lot of people   can actually make a you know a decent trading plan  it doesn't maybe not like the best trading plan of   all time but a decent one even with like you know  a few months of of concerted effort of training   uh but the problem is they typically don't  follow it you know they start feeling the   emotions as do be all i get it as well and  then what what happens after that well you just   you start deviating from your plan and we start  deviant from your plan when you are playing a   game that is statistically based you can no longer  be reliant on those statistics you can't expect   that they're going to work in your favor so you  quite literally have no plan you have no edge   and you might as you you might as well just throw  your money down the drain because that is more   or less what's going to happen um at least in my  experience so uh you know again these are things   these are lessons that i had to learn incredibly  painfully like i actually went [ __ ] broke   learning that lesson like literally broke zero  [ __ ] dollars which uh i would strongly suggest   that you do not want to do it's really not fun  i can tell you that straight up look i i know   that like people who are very enlightened out  there will tell you that money isn't everything   look money isn't everything but uh it's better to  have no money problems than to have money problems   or at least you want to have money problems  like figuring out your taxes rather than   figuring out how to buy food you know so so with  that in mind i i you know i do think that that was   a big one for me um if i'm talking just in general  in life uh one of the things that's really helped   me is keeping just a general journal of my days  and then also meditation uh for 15 to 20 minutes   every morning and then when i do that after that  i typically will journal and and i'll do it a lot   of the time on my phone it doesn't have to be  trading related but i a lot of the time it will   you know we'll have stuff like that in it just  naturally because that is well i guess that's my   life for better or worse which is kind of sad but  it's [ __ ] sad but i i do enjoy it i do enjoy it   man i do enjoy it so i'm a boomer well [ __ ] off  sir anyways um anyways uh i i find i find a lot   of value in that and you could even think of that  as like a religious thing you know i don't think   of myself as like a religious person but that  is my religion it's like being adherent to that   in some way as brother christiansen come back into  the mix what's up man um uh but yes uh and we'll   get to that soon enough as well um but overall  you know this is this is really really really   really really powerful stuff because if you can  employ this stuff you know for even just a few   years con consistently within your life and i  mean consistently like every [ __ ] day uh you   really need to carve out that time and can you  can you can you carve out like 15 to 20 minutes   yeah you probably can you know do you spend 15  or 20 minutes like scrolling through facebook or   or instagram or on netflix if you do that or  playing video games or whatever it might be if   you do that then you got time you definitely have  time so there's really no excuse in my opinion   um no matter what i will always make time  for that i always always always no matter   what the situation is uh doesn't matter it  does not matter because there's actually   well i i don't need to go into that example but  more importantly i just want to focus on the stuff   that actually [ __ ] works here so that's what i'd  say just general stuff very very simple stuff and   then also you know having set goals for yourself  as well goals need to be relatable and and   and definable as well like you can't say my goal  is to be rich and happy it's like okay well how do   you define that can you quantify that well you  can't so shut up no it's not don't shut up but   you need something that's like relatable that you  can actually measure over time because you want to   know if you're progressing towards there because  basically what you're doing is you're creating a   plan and then you want to see if your plan works  over time that's the idea that's essentially the   idea with that so uh make sure you know if you  know if you are new in this game that would be   probably the biggest thing that i could that  i could pass on to you it'll save you a lot   of [ __ ] pain because look you don't need to  go through the same things that i went through   you don't you quite literally don't but it is  up to you only you no one else here no one else   in your family no one else in your [ __ ] life it  is only up to you in this game of being a traitor   to take responsibility for that and if you  actually take 100 responsibility 100 of the time   then it'll probably end up you know  decently well if you don't then   then then you get the same painful lesson that  i did and uh and again you don't need to do that   you actually don't need to do that the saying  goes uh what uh a smart man learns from his   mistake a wise man learns from the mistakes of  others i'm not that's i'm not that wise man and   people are telling me that's the same the same  thing when i first started trading too you know   i was around some of the best traders in the  world and guess what almost all of them have   a story of like blowing out at least once um  and uh and and they told me and they warned me   and what did i think as a [ __ ] mid-20s just  idiot yeah i can do it it's like no i can't   you know so uh so so so if that that that would  be the biggest thing man hopefully hope you know   hopefully that is in some way valuable um i'll  also get onto this one as well i know that there's   a few other comments here too but i do want to  kind of flow on this topic for a second here   uh brother christiansen says brother crown i find  myself staring at the chart from open to close i   fear this game of mice and men has taken hostage  my soul how can i balance um you know having your   own again having your own plan and knowing when  you actually have uh your edge on the table is   at least my solution to that because a lot of  the time you're not going to get hit on that edge   if you're like a long-term investor you can go  maybe and sometimes in some cases even years you   know even a year of waiting you know waiting for  your edge to hit i mean i'm sure that the you know   the smart investors in 2018 certainly did hey  do not play with the goddamn dishes right now   uh but you know this area over here uh you  know that that was the time to be waiting   how do you know because this was an actual [ __  ] bear market how do you know that's an actual   bear market all major moving averages were in  a bearish posturing for a long period of time   again this these are technicalities here i'm not  going to tell you that you know 50 to 60 downside   on you know on a lot of these crypto assets is not  a bear market or not it's just the implications   wrong it implies the wrong thing like people think  oh it's not a bear market so uh so i i just buy   right here no no no like obviously not but if  you want to go by the textbook definition you   know that'll be it right here anyways my point  is is that you got it you got to know exactly   what you're looking for so that you're not  essentially just having your eyes glued to the   to the screen because that's not going to make you  a better trader it's just going to make you crazy   um and i see a lot of people getting sucked into  that you know skipping sleep and whatnot which i   actually did last week um just because well my  edge was getting hit off a lot and for myself   the this really is like where i want to be trading  this is perfect right here for for the last six   months i've mostly just been holding it and it's  been boring as all hell and uh and so this is like   actually quite kind of fun for myself but you know  to each their own right know what kind of trader   you want to be know what your proclivities are and  how do you discover that you backwards engineer   what kind of person are you do you know what  kind of person you are well spend some time   with yourself and figure it out maybe you don't  want to be on the short-term timeframes maybe you   don't want to be watching the [ __ ] one minute  i don't i don't want to watch the one minute um   even though you can make you can certainly make  a living doing that i mean [ __ ] a couple of   the guys in the discord are doing that uh jesus  christ apriori in the discord like made what like   4 000 bucks into 250 000 bucks or some [ __ ] like  just trading the tick charts on traditional market   i think it can be done a lot easier there or in  comparison to crypto markets but hey even some   people doing crypto markets too i mean uh pen uh  penny show shows the one minute quite often too   it's not for me but but hey to each their own know  what kind of person you are know what kind of uh   know what kind of you know um goal is maintainable  to your life so for myself i value sleep i value   uh i value less risky positions and uh and so you  know i i really don't like going on time frames   lower than a full hour and in times like these you  know i actually really want to be hanging on the   higher term timeframes because this is you know  this is a big move this this is a major move and   you know you're just going to get blown through on  it on a very low term time frame in my experience   uh because again bitcoin can zoom thousands of  bucks here and not even break the goddamn range   again for for 100 clearness where is bitcoin's  last lower high 59 000 bucks so even if you are a   daily

2021-05-26 22:23

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