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Timestamps:
00:00 Overview
01:52 Bitcoin Analysis
05:42 Trade Update
06:31 Ethereum Analysis
08:34 On-Chain
10:58 News Rundown

#Bitcoin #Crypto #Trading

DISCLAIMER: Virtual Asset values are variable, cannot be guaranteed and can be highly volatile. Nothing on this channel is financial advice, just my opinion only.

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Ladies and gents welcome back to another video today we are going to be jumping into the price action of Bitcoin and what is going on in the shorter time frames Bitcoin has been pretty volatile we’ll be getting into just that and uh if we look at the liquidation heat map

Also we can see that a lot of liquidations have been triggered on both the upside and actually on the on the bottom hand uh We’ve not been seeing the liquidations get triggered yet uh however the price may push the liquidations to that level so that the

Market can grab some money but all of this we will get into in today’s video as always we have some very exciting news to discuss on chain data and much much more most importantly ethereum hit $3,000 today which is incredibly exciting um and as you guys remember in

Previous videos we’ve been doing Ta on ethereum and we well I’ve been personally predicting that ethereum after rebounding from this prior resistance line of the ascending channel uh and after going passing if if we passed uh to $2,600 we could head towards the 3.1k uh resistance which is

Way where we are going towards at this uh current moment in time I’ll be discussing the reasons why ethereum is seeing such an explosive move and much much more but ladies and gents if you do Smash Up the like button that would be very much appreciated subscribe if you

Haven’t already to join the crypto kids and turn on the notification Bell to not miss out on any future updates whenever Bitcoin ethereum or any other incredibly interesting altcoin is seeing a crazy move break making Market updates and much more but let’s jump in straight into the price action for Bitcoin I hope

All of you had a beautiful weekend by the way one thing that I did was watch the We Are the World documentary on Netflix it’s something I would definitely recommend watching super crazy how so many stars across the world came together to make one beautiful song but anyways going into the price of

Bitcoin in the last update you would remember that I mentioned Bitcoin was having a top on the TD sequential now a quick recap on what the TD sequential is um it’s basically when the market either highlights a top or bottom in momentum it’s happening after a nine candle push

Towards the upside or a nine candle push towards the downside in this particular situation Bitcoin was pushing higher uh of course there are some parameters this was a red candle but it still played with the Tom DeMark uh indicator and we had an M top or a TD top uh top just a

Few candles back and usually this indicates a 124 candle correction now in this situation Bitcoin has not been correcting we’ve actually been consolidating instead today’s candle is super important because why for this we need to jump into lower time frames and just to highlight this bearish

Divergence is still in play which is why I’m being very cautious at this moment in time so Bitcoin tricked Everyone by going towards the $53,000 level once again uh we liquidated so many positions so just to check back on uh the liquidation scanner we can see that approximately

$962,000 have been liquidated most of this most of this is probably compiled from short positions so uh what I can see right now on the liquidation heat map is that there’s a lot of money flowing in to bitcoin we can also tell this from the amount of open interest

Which we’ll get into now usually this would be a bearish indicator however because volume is picking up for Bitcoin uh we can see that this is actually bullish because if open interest um if open interest uh Rises uh but the volume is decreasing that tends to lead to a

Top however because volume is started to pick up this is a good indicator because volume predicts price and by the way I have some pretty good news for you I am I’m now becoming a CMT hopefully soon in the upcoming one to two years I’m working through the courses and uh when

I completed I would be technically the youngest person to get a CMT if you know you know but as I was saying Bitcoin is now forming this pattern here it’s tried to form a double top but because of this recent pump and then uh fall back

Towards the downside we were not able to complete this double top rather we’ve now formed this bullish pennant but it’s all going to depend on a couple of factors if Bitcoin manages to surpass 52.9 I do expect Bitcoin going higher however if we break down from this support line the next level where

Bitcoin could potentially see a bounce from of course nothing this video is financial advice but from based off of my ta I think 49.1 would be an awesome level for a small rebound back and potentially we could be forming a um a head and shoulders pattern at that moment in time

But of course it’s still too early to tell this is the support level which will indicate either a further correction or another bounce now this Rising wedge has been holding uh the now its support right but the prior resistance of this Rising wedge has been holding up very very nicely Bitcoin saw

A retest over here but what I would be expecting is a further pump up uh break Below 54.1k on The Daily time frame and head towards the $57,000 level so if Bitcoin manages to do this right we see a successful test and then we break above 54.1 we could potentially rise to

The $57,000 area that’s what I’m looking out for but we need to be cautious here because of a bearish Divergence if the bearish Divergence decides to play out right now then this move will be invalidated on a daily time frame we could come back to 47k but if Bitcoin

Decides to break above 54.1 with a successful retest um right now then we could be heading to 57k what am I doing in terms of my trades that’s a very good question uh what I am doing is I did open uh a long position uh to I opened

It here on the channel a couple of weeks back with an entry price of 43.1 NK this is the $10,000 trading challenge we have over on bitflex if you are looking for a place to be trading uh Bitcoin and other cryptocurrencies they just listed a couple of more altcoins you can head

Over to the description below and check out this link to sign up and get up to $68,000 in rewards by using the flex shop if you want to learn how you can claim those then you can watch the second link um under the description to learn how to trade Bitcoin cryptos on an

Exchange and how to use the rewards sub system but I’m still in this long position it was a 2X long I I do think I could have added more leverage to this but hey it is what it is and more importantly we bought ethereum at 2.2

And 2.1k again a couple of weeks back we mentioned here on the crypto kid channel uh that ethereum will most likely see a major pump towards the upside because the ETF hype is going pretty good and this was the analysis which we drew and very quickly Bitcoin is seeing a

Rejection from this huge um now resistance line that has been drawn up since 2015 something to be on the look out for discussing that in more detail on the previous update but this was what we drew for ethereum if ethereum were to break 2.6k then we could be heading

Higher this is the same analysis have not touched anything but ethereum is pumping because of two things in March we’re going to be seeing the Denon upgrade that should reduce the fees for the ethereum network and on top of that we will be seeing hopefully an ethereum

Spot ETF by the 23rd of May but um I honestly think this is not going to happen I mentioned that the hype will be there no matter if will see the approval or not uh we’re currently seeing positive hype which is good that’s pushing up the price but I personally do

Not think that um the ETFs will unfortunately be going through because it took so many years for Bitcoin to get approved um it took like I think seven years the entire process um for Bitcoin to get that ETF and it was a struggle I mean Bitcoin is if you compare it with

Ethereum it is so much more clearer that Bitcoin is a commodity in ethereum would potentially be a security because ethereum is much more centralized you have a CEO um and you know they promote staking on their own blockchain which is a no-go for the Howe test therefore I

Think it will be super difficult for ethereum to get its ETFs approved this may um and of course they don’t even have a DCM LIF listing they don’t have a listing on a Futures Market that could give the SEC some more um you know validity that ethereum is ready for such

ETF but because this is not there I think it’s still too early and that’s why we may see a correction from the 3.1k level as the ETF will probably not come around now going over into some actually let’s go over into uh some uh onchain data and then we’ll finish off

With the breaking uh news updates now this is a very interesting comparison so if I go to the very top here what we can see is actually the short-term Bitcoin holders are in 600 and $4 million uh above plus profit so more than $640 million reaching levels seen at the top

Of the previous bull market so last time the holders were in such profits was in the top of the previous bull uh in 2021 and the question is will they be taking profit right now leading to selling pressure and to answer this question we can look into some onchain

Analysis now the first thing is both short-term and long-term holders are in profits number two we can see that the long-term holders are starting to dip here starting to take some profits while short-term holders are on the rise now if you read my newsletter or watched the

Video last week then you would know that I mentioned as soon as this orange line here starts to dip we could be seeing a new all-time high being reached very shortly after and after reach reaching this all-time high we will see another bare Market because if you go into the

Previous Cycles whenever short-term holders begin to increase the price of Bitcoin starts topping out and at that point the long-term holders are the lowest um and then if eventually this starts picking back up and Bitcoin enters into a new bare Market entering another accumulation phase but uh I’ve

Discuss this in much more detail I’ve written an entire research report including this data so I would definitely recommend going back uh to my last update I will put a card on the top right hand section so you do not miss it but the gist of it is short-term holders

Are increasing long-term holders are decreasing this tends to Signal a new alltime high very soon um and then shortly after a top but this doesn’t say that right now is the top it’s just indicating that in the next coming months Bitcoin may eventually reach its top uh and then start falling shortly

After my personal personal prediction for uh this current cycle sits between 90 to $95,000 uh based off of logarithmic reg regression and um that’s the you know that’s the biggest Factor actually and once we incorporate U cycle analysis when you put in the haing that’s kind of

The area that I personally got to so going over into the breaking news updates uh that was just uh one of them so we can skip that in the uh once we get to it but coinbase has picked up in retail volume uh so this is incredible because it’s showcasing that the volume

Is picking up people are becoming more interested now the reason the major reason for that is because right now Bitcoin broke above $50,000 and as soon as Bitcoin broke above 50k all of the mainstream media Outlets um everywhere that you see uh people were informed

Like when I go to school now my friends are saying wow Bitcoin broke $50,000 congratulations because mainstream media started talking about it but when the real retail volume will come back in my personal opinion is going to be when Bitcoin reaches like $66,000 and then eventually breaks above the pre previous

Oldtime High then people are going to be like oh hold on a second what’s going on here and at that point long-term holders are going to be super profitable because in the previous video we mentioned that 13% uh of total Bitcoin holders um are in the long-term category and they are

In losses because they bought the top in the last bull cycle and uh when we come towards the 69k areas then people are going to get hyped up again and they’re going to be checking their uh accounts and they’re in profits once more and they’ll probably start selling a little

Bit after we surpass the alltime high the uh retail volume will come back in and that should hopefully take us to $90,000 that’s kind of my train of thought here uh but once that happens we need to remember um we need to learn from previous mistakes and once retail

Volume does start kicking back in that’s potentially going to Signal me to take some profits off of the table now going into the next news we’ve seen Black Rock release a new advertisement for their spot Bitcoin ETF uh it is not bad at all but it could be in my personal opinion

Better from a marketing standpoint the Bitcoin network is approaching $1 billion dollar sorry 1 billion in confirmed transactions that is incredibly bullish for the network itself um and you know looking at Bitcoin ETF outflows and inflows itself Etc we’re seeing the ETFs hit incredible numbers we have so much buying pressure

In the market we have a lot of demand and Supply is diminish is diminishing last week we had a record of $2.5 billion or in fact $2.2 billion worth in Bitcoin accumulated by ETF issuers in the market and uh the only issued Bitcoin a new issued Bitcoin through

Minor rewards was around $230 million that’s almost a 10x in terms of the supply release and the demand that is being bought up by the ETFs on a daily basis so it’s incredible when will we be seeing outflows I personally don’t think so uh very soon this is what the uh

Tweet here summarizes right now because it’s a new asset class it’s a new ETF it will most likely continue to start uh volume coming in again this was a topic we discussed more in the previous video but as soon as Roth Roth IR Rays 401ks Etc uh start holding Bitcoin uh in their

Portfolio then the ETFs will just keep on increasing in in inflows and that is pretty unlikely to stop so uh that is my take on it and things are looking very interesting we mentioned the total open interest it said $22.9 billion the highest since uh November 2021 which was of course the

Bull market top um and this you know goes on to talk about how GLD so spdr when it had the gold spot ETF it was very costly so in 2018 they launched a sub ETF called gldm which reduced the total fees um and encouraged more

Investors to in invest into gold uh at a lower cost and Nate gassi here says that maybe gr scale should be launching this sub ETF where it’s cheaper for investors to get in and the outflows from great scale could be going into this new ETF

Launched I think it is a very good idea this was incredible so what was launched uh in South Africa I believe is that you can now transact Bitcoin via your carrier service without the requirement M of actual internet connection and this is revolutionary this is a one twoh hour

Video on itself and we will discuss this together me da Vinci and Carl um and Mr M this weekend so we’re holding an event um I will put the link for the event right um uh in the description below if you’re in Dubai I would definitely recommend joining it’s completely for

Free I believe the tickets so do check it out we will have this uh conversation between me da Vinci Carl and Mr M and look we can see here that the world is reaching a record in total debt we’re sitting at 210 or $220 trillion across

The world and as Bitcoin has become a commodity and a hedge against inflation Bitcoin should hypothetically continue Rising once compared to the USD value and this was James saart saying that the ethereum spot ETFs will probably not come around by the end of March and this

Is an interesting take based off of the Apple Vision Pro so 30% of people uh will get headaches using the Apple Vision Pro because there is a small latency difference between what you see with the VR um or ar goggles Etc whatever you want to call it and your

Real Vision so this small latency difference will cause headaches and uh it may not be suitable for 30% of the people across the world um we talked about this just now and I can remove that from my bookmarks this was really mind-blowing so worldcoin uh reached or surpassed 1 million daily users this

Week I still do not understand why people use World coin c to uh the video that I made last summer talking about how stupid it is um and why NPCs would only be using worldcoin uh but yeah that pretty much covers everything I want to talk about in this video most

Importantly uh just wanted to bring this up again from the previous one because all exchange traded products across the world remember there’s not only ETFs in the United States there’s ETFs everywhere um this has reached a staggering number of almost 1 million Bitcoin 1 over 19 of the entire Supply

And this just adds to the potential Supply shock that we’ll be seeing very very soon and Bitcoin is ladies and gentlemen only 23% away from its alltime high can’t wrap my mind around it how we’re so close to the prior top it’s it’s really crazy but guys and girls

Thank you so much for watching today’s video God that was a good run but my my throat dried up uh ladies and gents have a beautiful day and hope to see you on the next video very soon remember uh Smash Up the like button subscribe if you haven’t already and turn on the

Notification Bell to not miss out on any future updates but this is crypto kid signing off uh and yeah I’ll see you on the next video shortly bye-bye