BTC/CRYPTOCURRENCY Trading Analysis Update: 25.06.2023

Bitcoin ETF Drama

In this section, the speaker discusses the excitement surrounding the news of a new Bitcoin ETF and cautions against getting too caught up in the hype.

Institutional Investors and ETFs

• ETFs are another way for big players and institutions to trade in cryptocurrency markets.

• BlackRock is one of the biggest companies in the United States that manages trillions of dollars. They having an ETF is potentially another avenue for money to flow into the markets.

• Every time institutional investors have entered this space, prices have dropped.

Past Performance of Bitcoin ETF News

• Previous articles about Bitcoin ETF excitement from years ago show that every time this has happened before, it has ended in disaster.

• The earliest time we saw big headlines about institutional players entering the market was December 2017, which triggered one of the worst bear markets Bitcoin has seen.

Technical Analysis vs. News Headlines

• The speaker is a technical analyst who doesn't care about news headlines because he doesn't get caught up in noise.

• The analysis hasn't changed despite all these comments on his videos.

Caution Against Getting Caught Up in Hype

In this section, the speaker warns against getting too excited about news regarding a new Bitcoin ETF and reminds viewers that similar situations have occurred before with negative outcomes.

Similar Situations Have Occurred Before

• The speaker reminds viewers that we have been in this situation before with Bitcoin and its ETF drama many times.

• We are so clearly seeing this kind of news coming in at tops because this is just how it works when institutional investors try to come into the markets.

Concerns About Institutional Investors

• The speaker cautions against getting fooled by news about institutional investors coming into the space.

• Crypto investors think that these people will be buying at the top, but every time institutional investors have entered this space, prices have dropped.

Technical Analysis vs. News Headlines

In this section, the speaker emphasizes his focus on technical analysis rather than news headlines and highlights that his analysis has not changed despite all the comments on his videos.

Focus on Technical Analysis

• The speaker is a technical analyst who doesn't care about news headlines because he doesn't get caught up in noise.

• The analysis hasn't changed despite all these comments on his videos.

Conclusion

The speaker warns against getting too excited about news regarding a new Bitcoin ETF and reminds viewers that similar situations have occurred before with negative outcomes. He emphasizes his focus on technical analysis rather than news headlines and highlights that his analysis has not changed despite all the comments on his videos.

Introduction to Trading and Platforms

In this section, the speaker introduces the platforms that are best for trading in the space. He highlights that Bingx is a flexible exchange that does not require KYC and allows trading of various stocks with leverage just from a Bitcoin deposit.

Best Platforms for Trading

• The speaker recommends Bingx as the best platform for trading.

• Bingx allows trading of various stocks with leverage just from a Bitcoin deposit without KYC.

• Signing up using the speaker's link gives up to 30,000 free trading ammunition which can be used to generate profits.

Institutional Interest in Crypto

In this section, the speaker discusses how institutional interest in crypto has resulted in disasters before. He also talks about BlackRock's use of Coinbase as their custodian for coins.

Disasters Resulting from Institutional Interest

• Institutional interest in crypto has resulted in disasters before.

• People tend to forget that investors will not take advantage of opportunities until prices go to better levels.

BlackRock's Use of Coinbase

• BlackRock uses Coinbase as their custodian for coins.

• The article mentions that dark clouds overshadowing crypto have lifted amid institutional interest.

Hype vs News in Crypto Markets

In this section, the speaker talks about how hype drives prices up but once news drops, there isn't any reason to be excited anymore. He also warns that the market tends to top after institutional interest.

Hype vs News

• Hype drives prices up but once news drops, there isn't any reason to be excited anymore.

Market Topping After Institutional Interest

• The market tends to top after institutional interest.

• Trading is done based on speculation and being the first person in takes on the most risk but can result in the most money.

Bitcoin Resistance Level and Market Sentiment

The speaker discusses the current resistance level of Bitcoin and market sentiment. They note that while there are many bullish headlines, the market is not in extreme greed. Retail traders are still majority short, which is unusual for both Binance and Bybit traders. The speaker believes that it's important to keep in mind that the market is currently at a resistance level.

Bitcoin Resistance Level

• The speaker notes that Bitcoin has not punched in a much higher high than its current high.

• They mention that the market is stabilizing at a high level but facing a lot of resistance.

• The speaker believes that even if Bitcoin reaches 34k or 36k, it will still face significant resistance.

• They suggest being open to the possibility of deviation up and then back down, leading into the 2024 halving event.

Market Sentiment

• Fear and Greed rating is at 64, which hasn't been pushing up.

• Retail traders are still majority short on both Binance and Bybit exchanges.

• The speaker notes that we've seen similar patterns before with ETF hopes and inflation worries resulting in six-month highs. However, they caution against ignoring these patterns as they typically don't end well.

Finding Support Levels for Bitcoin

In this section, the speaker discusses finding support levels for Bitcoin by zooming out on charts. They note how predictable resistance was for the market back in April of this year.

Finding Support Levels

• The speaker notes how support is being found in an area where previously there was resistance.

• They suggest paying attention to how predictable resistance was for the market back in April of this year.

Bitcoin Market Analysis

In this section, the speaker discusses the current state of the Bitcoin market and how it is consolidating after a rally. He also talks about the importance of corrections and being cautious in times of excitement.

Importance of Corrections

• The current consolidation phase is giving Bitcoin a chance to correct and form a rally more sustainably.

• Previous rallies did not have price-based corrections, which led to failure.

• The momentum on the chart shows that there will be support for momentum if the price dips down a little bit.

Caution in Times of Excitement

• The speaker warns against getting too excited by ETF headlines and encourages caution.

• He reminds listeners that markets can dupe us into thinking that history won't repeat itself.

• The speaker emphasizes being greedy when people are cautious and cautious when people are greedy.

Market Opportunities

• The speaker mentions considering a position on Ethereum but does not provide further details.

• There are opportunities in crypto, Forex, stocks, and indices markets.

How to Get Bonuses from Crypto Exchanges

In this section, the speaker talks about how to get bonuses from crypto exchanges and why it is worth the time.

Getting Bonuses from Crypto Exchanges

• To get bonuses from crypto exchanges, you can check out the links provided by the speaker.

• By taking advantage of these bonuses, you can receive up to 30k over 100k in total.

• The extra ammunition for your trading that these exchanges will give you is worth the time.

• You don't even need to keep your money on these exchanges when you get the bonuses.

Trading with Free Money

In this section, the speaker explains how to trade with free money and why it's a good model.

Trading with Free Money

• When you get bonuses from crypto exchanges, you can deposit your money and take advantage of their free money offers.

• This allows you to trade with free money which is a very good model.

• You just need to dangle your money in front of these guys a little bit, take your bonus and then get out.

• This shortcut way for what many traders have taken advantage of very well.

Conclusion and Call-to-action

In this section, the speaker concludes his video by encouraging viewers to subscribe and leave feedback.

Conclusion and Call-to-action

• The speaker hopes that viewers appreciated his video and encourages them to smash up the likes, subscribe, tick to build all of that good stuff.

• He will be seeing viewers in his next Bitcoin video tomorrow morning which will be more analysis-focused.

• Viewers should not miss out on the time-sensitive nature of this content by subscribing and taking the bell.

• The next video will cover a very relevant news world and real-world news event.

• The speaker asks viewers if they liked this video and if they want to see more of this type of content, to let him know in the comments.