Most Bitcoin Traders Are About To Fall For This Trap

On Bitcoin

Changed since their last video: days moved sideways to down; weeks went from expecting down to leaning down; months went from expecting up to leaning up.

Views

• Next days (next 1–7 days): Leans down: Right now, if I were asked to be the person to look out for some deals today, I would favor selling positions. ▶ 10:20
• Next weeks (next 2–6 weeks): Leans down: Please be aware that prices could still fall for another three or four weeks, and then rise for several weeks, right? ▶ 05:39
• Next months (next 2–6 months): Leans up (timeframe is our reading): prices could still fall for another three or four weeks, and then rise for several weeks, right? ▶ 05:39

If this, then that

• If A rise above the 65,400 level (0.618 Fibonacci resistance), then 70k (next days): The major resistance is at 65,400, i.e., 618 , which means that if we start to see a rise above this level, there will be short pressure down to 70,000. ▶ 09:12

Levels named

• 70k: Resistance (Other): As you can clearly see on the weekly chart, the next resistance levels are at $70,000, ▶ 03:48
• 65–66k: Resistance (seller-dominated area): But now we come to an important point, which is the area between $65,000 and $66,000. ▶ 03:43
• 65.4k: Resistance (0.618 Fibonacci level): The major resistance is at 65,400, i.e., 618 , which means that if we start to see a rise above this level, there will be short pressure down to 70,000. ▶ 09:12
• 60k: Support (double bottom areas): We also see below it an area ranging between $58,000 and $57,000, in addition to a lower level at $60,000, which are double bottom areas. ▶ 03:59
• 57–58k: Support (double bottom areas): We also see below it an area ranging between $58,000 and $57,000, in addition to a lower level at $60,000, which are double bottom areas. ▶ 03:59
• 57k: Target (plan A downside target): As I mentioned, my plan (A) is to reach 57,000. correct? Plan (B) is to form a double bottom at 60,000. ▶ 08:22
• 40–52k: Support (Other): we find below that a support level that lies between $40,000 and $52,000, ▶ 04:09
• 49k: Target (possible deeper drop): then prepare for the possibility of the price dropping to 49,000 or even the mid-40,000s. ▶ 08:46

Their own position: Not said.

On Ethereum

Priced against another coin, not dollars · not counted.

Views

• Next days (next 1–7 days): Leans up (timeframe is our reading): The Ethereum to Bitcoin ratio is about to break out. ▶ 12:26

Their own position: Not said.

Dates named

• Last week's FOMC meeting, undated: The Federal Open Market Committee (FOMC) did not perform ideally, and we saw a decline in the price of gold.