⚠️ BITCOIN ⚠️ This is BULLISH??!!!! (GET READY FOR A HUGE MOVE)
Bitcoin Price Analysis and Trading Plan
In this video, the speaker discusses their bullish outlook on Bitcoin despite holding multiple short trades. They analyze key support and resistance levels, as well as potential scenarios for a major bounce to the upside.
Bullish Outlook
- Since November 2021, Bitcoin has been in a strong uptrend with higher highs and higher lows.
- Despite recent pullbacks, the speaker expects a big move to the upside soon.
- A bullish scenario involves finding major support at around $24,900, which is a value area high that the market has priced Bitcoin at for the past year.
Key Levels to Watch
- The $30,000 level is a significant resistance that has caused recent pullbacks.
- Closing a daily candle below $26,477 would indicate a bearish market structure trend with more downside potential.
Trading Plan
- Look for key support levels to enter into long positions or buy on spot.
- The speaker recommends trading on mexc and bitget exchanges for scalping and swing trading opportunities.
Entering Trades and Support/Resistance
In this section, the speaker explains how to enter trades by waiting for a retest of support-turned-resistance levels. They also discuss the importance of support and resistance levels in trading.
Entering Trades
- Wait for a retest of what used to be resistance now acting as support before entering a trade.
- This gives confirmation that there is a proper breakout and retest.
Support and Resistance
- Think of support and resistance like floors of a house.
- The previous floor (support) can become the ceiling (resistance), and vice versa.
- Use Fibonacci levels to identify key areas where bounces are likely to occur.
Daily Order Block
In this section, the speaker discusses the significance of daily order blocks in trading.
Daily Order Block
- An order block is a zone of liquidity that can be identified by looking for anomalies in candlestick charts.
- A daily order block is coming in at around $23,900 - $25,000 level on Bitcoin's chart.
- If the price dips down to this level, it's likely to get a reaction from this zone due to its liquidity.
Divergences
In this section, the speaker explains bullish divergences and how they can indicate continuation patterns.
Bullish Divergences
- A bullish divergence is where momentum waves are getting higher as the price is getting lower.
- If we see a hidden bullish divergence on the daily timeframe and a regular bullish divergence on the four-hour timeframe, it would indicate a continuation in an uptrend.
Self-Sufficiency
In this section, the speaker discusses the importance of self-sufficiency.
Self-Sufficiency
- As times get crazier, we need to become more self-sufficient and less reliant on systems that enslave people in Western society.
- We should take responsibility for our own supplies and health.
Diet and Self-Sufficiency
In this section, the speaker discusses the importance of diet in maintaining good health and being self-sufficient. He emphasizes the need to eat whole foods that are not packaged.
Eating Whole Foods
- The speaker believes that eating whole foods is essential for good health and self-sufficiency.
- Packaged foods should be avoided as they can make people sick and prevent them from performing at their best.
- Eating whole foods helps keep the mind sharp, body strong, and prevents poor health.
- The speaker eats a lot of chicken, eggs, raw goat milk, ground beef (grass-fed), greens (spinach, chard, kale), beans, squash, and potatoes grown on his homestead.
Benefits of Raw Goat Milk
- Raw goat milk is highly nutritious and provides energy.
- The speaker gets raw goat milk from a local farm which he describes as amazing.
Importance of Diet
- The speaker believes that diet is one of the most important factors in maintaining good health.
- Poor diet can lead to obesity, sickness, depression and dependence on pharmaceutical drugs.
- A healthy diet is crucial for being self-sufficient in the future when things may get worse.