Trading Bitcoin - Big Drop from $34k, but Holding $30k, Nice!
[Music] all right and we are live hey everyone welcome to another episode of trading bitcoin with your host phone base as we are at yep another airport um and we're gonna be drinking the whole time because as long as you're actively eating or drinking uh kovit can't hurt you as what we are being taught so that's what we're doing um i hope everyone joined me for bitcoin's birthday yesterday uh right there january 3rd we had an absolute epic stream uh lasted for 14 hours uh if i was you know at my own workstation i probably would have hung on there invited more people i should just drop the background i am on my way to dc as you can see by that background that's where i'm flying to miami to dc is the route hope the audio is good can we just i have two audio options and they're both like speakers because i can't seem to get my clip on mics working with this laptop i haven't like used them enough and i'm literally sitting on a chair so no desk is this microphone better this is option one here comes option two option two starts now this is option two so if you guys can tell me if option one was better or option two was better and then we will move on with the rest of the show one is the microphone of my laptop which is this one and the other is the microphone of my webcam which was number one uh looks like number one's the winner we're gonna go back to number one good to know okay number one's the winner uh let's go to the charts i should have worn this shirt yesterday i was like because i i went to erica's office and i'm like oh man i i wore my own shirt i didn't wear the um uh satoshi corner shirt there's a shirt from satoshi corner i love the shirt i took off the bitcoin logo so that i can go through airports and if someone says holy [ __ ] that's bitcoin uh that'd be awesome i know that person is a true bitcoiner so if you see oh like me wearing this you see someone wearing this shirt like that guy's a bitcoin real bitcoin gotta be subtle hey daniel thank you thank you for the super chat for yesterday's show yesterday's show was great i still got to go through it we got to get some time stamps in there that show was crazy i just i crashed i went to sleep uh what what's the price of bitcoin right now i don't even freaking know okay so here's bitcoin it looks like it took a little bit of a nosedive that can't be good but it's not that bad okay so this is the weekly chart um we started a brand new week this is the sixth week of our latest uptrend uh this so far this is very very promising i remain bullish the weekly chart remains bullish and it will remain bullish for at least three more weeks unless things happen if the price of bitcoin does not change i will remain bullish for a few more weeks well let's go to the daily chart uh the daily chart took a bit of a nose dive today as you can see yesterday we were on extension c ending this extension c is coming from this mri top so we have completed the first extension there are two more extensions and if you're wondering how far away these extensions are a lot of people don't use extension a i don't really pay attention that much to extension a let me refresh this chart oh let me look at the funding rate so the funding rate is troubling i did not see this yesterday this is a very troublesome funding rate because i can't remember the last time that green line is drawn for a reason in that area as you can see that is the highest funding rate we've had in a very long time since august of 2019 not 2020 since august of 2019 it's been a year and a half since the funding rate was this overextended and that is actually a big big problem that is a big problem ladies and gentlemen that is not an ideal situation that is a pretty big concern that is very concerning now the right thing to do is to actually start thinking about the exit it is time to start thinking about the exit or considering a buy the dip now this is a pretty bullish candle if we close above 31 000 if we don't close above 31 000 bitcoin could be in a bit of trouble here i don't like the funding rate we have kicked off another mri bullish cycle is it possible for bitcoin to top on a second consecutive daily mri which would be very close to a weekly mri top this would be on candle seven i would rather see a top on candle seven or eight i don't like seeing a top on candle number five so uh so i am a little bit bothered by the daily chart right now let's go to the short term look yesterday i drew this green line at the end of our stream and i said if bitcoin can close the hour above this close i was expecting a big upswing also notice how well bitcoin has reacted to mri tops uh on the hourly chart let me zoom in a little bit you can see the mri top right here took the coin down big time and then this mri top took bitcoin down bigger if you waited long enough so on this semi-right top just missed it also look at the big crash the moment you broke the support line these are all very common elements of the mri and having access to the mri is almost useless without uh the knowledge on how to trade it and the knowledge on how to trade it comes with um that knowledge comes with the purchase of the mri indicator so you get the access to the code but more importantly you get a five hour video on how to trade the mri and otherwise the code is useless and the video is useless if you don't have access to the code now this is gbtc and look at how look at the premium completely crashing i have not sold my gbtc in fact i haven't had time to log into my account this morning because i had to do laundry and pack and you know get going to washington the first thing i'm doing the moment i get off the stream and before i have to go inside the airplane is i'm gonna uh fund my roth ira with six thousand dollars the yearly maximum and i'm also going to initiate a transfer of uh from an ira to a raw fire array and i am going to take full advantage of the crashed uh premium so this is a double-edged sword i certainly could have gotten out at a 40 premium but as you can see right now the price of gbtc is higher so it's disappointing but you know it kind of balanced each other out and by the way washington i'm hearing um like erica who just got her airbnb cancelled uh mr chairman uh wasn't allowed on his flight so the communists are doing everything in their power to prevent people from going to washington and i don't again i should probably save my politics for later in the stream but uh it's possible that this covet insanity is a hundred percent uh well i don't wanna say it's trump's fault but uh and i hate conspiracy theories but i believe that if trump wasn't the president none of us would be wearing masks right now and there would be no lockdown it's just a way to hold back the people from supporting trump at this point so i'm still holding not only am i holding gbtc i am now very interested in uh buying more because of the crash premium and they'll take about a week to clear because they're fiat transactions and uh once they clear i will try to time gbtc because there's no etf coming so gbtc is the only game in town and the next set of fomo this premium can go to 50 and beyond back to the short term chart hey daniel thank you again um what are your views on bitcoin mining stocks riot mara can hive uh you know i'll try to take a look at them man i'm uh i'm sitting here with a laptop on my lap and analyzing stocks right now is a problem look this is a bad looking chart i'm gonna take this blue line and i'm gonna stick it right here where the setup trend line was as you can see this is a classic pattern of support breaking becoming resistance if you go to my website and you go to learn trading all right i need to review this it's um this is very common that prior support breaks and becomes resistance this this can get ugly if we go lower than 30 000 again uh right now there is still hope but just like i said yesterday going above the green line makes me pretty damn bullish and taking out new highs obviously going above the prior lows would make me very bearish for the same exact reason so they are identical concepts [Music] oh do i have another super chat thank you luca bourne uh and you are welcome sir for your mri usage we're about a thousand viewers guys so what do i think right now well i think the monthly mri top has nothing to sneeze at you will see that this candle will probably turn bearish well maybe not yet um i don't like trading up the day after an mri time so the monthly chart is telling you not to buy this month that's what the monthly chart is telling you it's not telling you to sell it's not telling you to short it is telling you not to buy this month that's what the monthly chart is telling you what is the weekly chart well telling me the weekly chart is telling me not to panic the weekly chart is telling me to hold my long-term trades the daily chart however is throwing a giant warning flag in the form of funding rate the daily chart is telling me to get out it's not telling you to short because yesterday's scandal was a contradiction yesterday's scandal told me to get out and potentially short but the green star told me to get in and go long this was a complete contradictory candle and this candle took a nosedive the daily candle is telling me to get out and take my profit and then wait what about the four hour what is the four-hour time four hour is telling me to be very very careful i believe there was a four hour mri top and we are three candles away from a potential mri bottom but we need a new low close we will need a close below thirty thousand eight hundred we will review this tomorrow to see if the mri buy on a four hour took place so the four hour chart would have told me to be completely out of the market earlier yeah out of the market a while a while earlier probably on this big crash what about the one hour chart the one hour chart is telling me not to be in the market right now i don't know the four-hour chart told me that if i screwed up the one-hour chart told me that if i screwed up and did not get out of my bullish positions as this support was breaking i should have been smart and gotten out back here because then the mri bottom was coming and it's not advisable to buy on this mri bottom because it wasn't happening at the low but this rejection somewhere on this candle was probably the time to consider getting back out of the market and right now it's telling me i should not be in the market and i should only go into the market on the one hour chart at the break of this blue line but not just the break of this blue line the break of this blue line with confidence that we will close above the blue line um and that's up to you as to how confident you are that it's actually going to close about that now traditional markets are gbtc i'm holding only because of the premium if the premium on this candle was in the 50 range of course the price would have been in the 45 45 i would have been absolutely out this morning but because of the low premium i'm actually considering bringing in more ammunition to go back in [Music] uh go uh bitcoins uh dominance has slowed down because people are still stupid and buying ethereum gold's breaking out uh gold's doing well as you guys know i've been bullish gold uh during this empire during this uptrend ever since we established a higher low and broke above the prior swing high [Music] and now we are breaking we're right at the very critical resistance point i think gold is going to do well i think that cluster [ __ ] known as the us election is gonna make gold go to new all-time highs very very soon and the s p is taking a nosedive i think the elections in georgia are gonna be another giant cluster and i really hope every single republican and independent goes to the georgian polling booths and just watches every single ballot of that election and as no surprise the mri has proven itself once again just like it proved itself right here in august on the bitcoin weekly chart uh it is proving itself once again that it is not something to be ignored and the weekly uh mri top appears to be reversing the market unfortunately willy woo couldn't join the stream last night i'll try to get them on again one of these days but i'm gonna be busy i'm done i mean i don't know where to go i uh i can't go to vegas because they are uh a disaster when it comes to covet um i can't go to new york to see family they're putting in concentration camps uh if they suspect you have called it if you haven't seen the articles this morning so i'm going to dc and after that i'm going back to florida and then probably mexico it's uh probably the only same place left in all of north america europe is totally [ __ ] uh china seems to be doing okay that's about it i don't really want to be in china either so you're pretty much screwed canada is worse than the us i can take a look at some of those like there was a super chat so i can take a look at riot i'm sure they're doing extremely well riot oh my god i can't believe this is a 16 stock holy [ __ ] um i don't know what to say i was trading riot when it was like two dollars and i thought i was like smart and i made a lot of money uh i didn't make any money compared to what happened uh i have no comment it is a 16 stock and uh i mean the time to ask me about riot was candle was happening uh i mean that's the breakout i'm a big fan of all-time highs after breakouts well that might not have been an all-time high but um oh it's not an all-time high but that's the that's the time to get into riot uh i don't know i have no comment hit an mri top daily recently how is it on the weekly i mean anything related to bitcoin or blockchain is going to do well i mean it's still bullish but like if bitcoin turns so will this kanan was another one uh kanan is back to our six dollar stock on the weekly it's bullish it's breaking out above prior highs it's bullish on the weekly it's um nope not bullish on the daily look at all those extensions ending uh all those extensions are ending uh what were the other ones i don't even know anymore where were the other ones mara i don't know what mara is tomorrow marathon patent group are they a blockchain company uh they're consolidating but look everything's bullish i mean everything's gonna follow bitcoin and what's another one high what is hive hive blockchain technologies i've never heard of it canadian company i i wouldn't invest in anything canada right now stay out of canada canada is i never want to go back to canada again you guys are just [ __ ] up never want to go back to canada i used to enjoy montreal in toronto my best uh russian backpack my favorite russian bathhouse in toronto i don't think i'll ever go back there i don't know what a th e premium is ethereum premium i have no idea guys as of february 1st this channel will be [ __ ] coin free that means no comments no [ __ ] coin guests uh i mean people will get banned for even mentioning uh a [ __ ] coin and i won't care like this channel goes [ __ ] coin free as of february 1st and i don't wanna i i don't want to acknowledge them anymore it's over i don't even care if they die crash hack it's it's over it's over so these [ __ ] coin people are worse than the central bankers they're as bad as the police coming to arrest you for not wearing a mask that's how bad these [ __ ] coiners are arb i don't know what that is i don't know what this is i have no idea what this is oh cool what this is i'm not going to analyze this that's insane all right um you guys got my views on bitcoin across all time frames there's nothing really to add i mean it's uh i mean still waiting for i mean people are just dumb they're still buying ripple none of this stuff matters none of it matters they're all scams none of them matter all right guys uh if you want to support well you can just read the learn trading section that support as well uh you have the affiliate page these days and you have my uh workshops i still have to take down the other man videos this is now available for free don't pay for this please it's available for free on the hyperwave channel and i don't know maybe on tyler's birthday we will just celebrate tyler's birthday we will make something else free i want to make all of these free within two years they'll all be free within two years maybe sooner maybe soon look at plug plug what's plug [ __ ] coins plug plug it's doing well plug power i don't know what they do uh if you had the mri it certainly helps you figure out what to do with plug can't make this [ __ ] up uh on a weekly scale [Music] oh beautiful look at that look at that look at that plug i should have seen it right here uh this is what the mri is built for i can't see it any other way argo blockchain a rb on london stock exchange argo blockchain argo blockchain argo blockchain there it is the otc in the u.s i don't see the london stock exchange oh here it is arb on london it's doing well uh i don't know what to say it's i don't like buying over extended things the time to buy was the breakout of consolidation you had a few options there was one here in november there was another one right here in december that's the time to buy this is not the time to buy i cannot um well this is not a recommend but apple oh yeah apple had a huge confluence aapl apple apple the daily apple look at a daily apple and um [Music] i think apple was also topping on a monthly i should check my settings there's the settings and right so my monthly is turned off you can turn on the monthly by the way guys you should probably turn off the hourly because if you're looking at assets that don't have hourly data your indicator won't work because of this setting so we're going to remove that by default going forward so you can see how it's a monthly mri top we have a daily mri top inside a weekly mri top inside a monthly mri top if this example doesn't convince you how useful the mri is i don't know what example will i need to remember this and take screenshots of this so i can use this in my future release notes for the usefulness of the mri thank you for pointing that out by the way whoever just said that whoever asked me to look at apple kyle thank you sir [Music] um gbtc premium is absolutely in the buy zone 100 the gptc premium is screaming by the problem is that the price chart is not screening by i would be more bullish if we can close the hourly chart above the blue line because we weren't able to close it above the green line uh yesterday the daily chart is very troublesome as i said earlier the daily chart is very troublesome due to the unreasonably high funding rate we have not had a funding rate this high and contango this high since august of 2019 not uh i mean if you remember what happened back then that was the unreasonable rise to 14 000 it's been a year and a half since things were this skewed uh and overvalued for the bulls hillary and nicola man daniel you are being very generous today sir thank you so much for your super chats uh tilray and nicole i'm sure tilray is doing good there's nothing else to do in the world right now they get high because the government has shut down every business and your ability to do anything useful i'm also not charging my laptop so we also have a power issue in a minute uh kill ray let's look at tillery c-l-r-y hillary uh it's not doing as great as i thought still doing okay i mean maybe people can't afford wheat anymore because they don't have any jobs but they're getting 600 bucks so they can start getting high again like i said there's nothing else to do it's not like there's jobs you can do or it's not if you can open a business and uh nikola what's nicola is that that like yeah i guess so uh this is not looking very good that's a daily chart uh it the mri isn't look the mri on a monthly is on a five on a weekly is on a six i mean this thing's got um i would not buy this the time to short was man look at that beautiful mri top on the daily uh not much on a weekly i mean i would be i'd rather be short but i don't short stocks this cheap it's too cheap to short just stay away i need to transfer money to my retirement account we have to wrap this up i'm sorry i have to login to my three-factor authentication into my retirement fund and um uh we're gonna make this conference happen i don't care how but we're making it happen and uh if you wanna support please check out the on-demand videos or the mri uh once uh in a few weeks or so i'm gonna open up subscription so we can do q a more privately hey thank you all for watching and thank you for sticking around with us yesterday for 14 hours as we uh put on an epic stream for everyone and it was great uh that would be easy sure all right i gotta go guys uh please watch the bitcoin birthday stream it was awesome thank you erica for hosting thank you everyone who came from adam back to mr hotel to jimmy song for helping me host it uh thank you everyone um some people that were on there for the first time like annalise and um man i i'm still recovering between new year's and this uh thank you all for watching guys i gotta i gotta run i gotta board the flight as well uh bye thank you daniel again for your uh generous super chats and john i see your comment we're going to take a look at that next time um please explain how to view live gpc premium i have my own script i don't it's not ready for public use unfortunately if i release my script i'm gonna my life's gonna be a living hell explaining to people how to use my script uh i i can't go through that unfortunately bye guys bitcoin's birthday on my shirt later guys oh [ __ ] what'd i do all right let's try this again
2021-01-07 05:40
