Bitcoin Bulls Play Defense Again!

Bitcoin Bulls Play Defense Again!

hello crypto people Joey here from the
chart guys I’ve been trading for seven
years and learning at the chart guys
under Dan for six of them joined as a
member in
2018 and I’m here to talk about some
crypto talk about a little stocks talk
about the broad market and of course
talk about some altcoins
so I hope that y’all know what I’m about
to say we’re holding the weekly 12 EMA
this has been our guide for months and
another hold from the Bulls here so it
was looking like bears were positioned
well to take out our monthly stair step
because we’ve got the broad Market
coming down every main sector within the
broad Market coming down many many
altcoins consolidating on the monthly
and I’ve been viewing Bitcoin as the
last bull Warrior and that bull Warrior
status remains and now we have to ask
ourselves if we’re zooming into the
daily here and this is what the Bitcoin
chart is looking like and this is what
the S&P 500 looks like this is what the
NASDAQ looks like if we get temporary
Bottoms in the broad market and the
relationship of relative strength
remains as it does now with Bitcoin then
Bulls are positioned well to keep the
show on the road and I felt that was the
less likely scenario I was looking for
monthly consolidation to get underway
but as we were talking about last week
you you know it’s just about risk to
reward and it’s about respecting that we
don’t know what the markets are going to
do so at this point if we look at es we
are up and over 4our 12 EMA resistance
that has been our guide looking at NQ
we’re testing it now trying to push up
and over that’s been our guide there and
we got the clue that this is what could
be shaping up here talked about it in
the chart guys this morning let me see
here where is this this
morning where is this
morning I just can’t find it I won’t
waste any time here I won’t waste any
time it might have been on Twitter now
I’m now that I’m posting in multiple
places you know I’m losing track of
stuff which by the way I’ll plug my
Twitter here I’m on Twitter now at
jungle Funk uncore give me a follow if
you like stocks and Cat picks and nature
picks so the main thing is that the
broad markets looking like it’s putting
in a bottom we’re no we’re looking for
daily lower highs there and Bitcoin is
positioned well relative to that so
let’s look at Bitcoin what do we got
going on we have that’s not Bitcoin that
is the ratio so Bitcoin is coming up to
test our only real resistance nearby
right now that is
66.9k current high is pretty much a
double top with that we’ve got a daily
stair step pattern we’ve got a 4H hour
uptrend was looking like a rising wedge
for a bit here we we
had something like that and you know you
probably could adjust the lines to still
have us within a rising wedge but just
going to watch the 4our higher lows as
Bulls kind of peak above this but
trusting 4our higher lows we got a
little dinker here set this morning at
65.6k and then we’ve got the
64.2k below that let’s look at what is
the low of yesterday that’s 64.2 so
that’ll be the more important support
for us moving forward here and Bulls
that are looking for the show to go on
are scouting daily higher low positions
next consolidation play and off of 596
at this point bulls have a lot of room
for that and if we want to take the next
step towards weekly 12 EMA holding we’re
going to need a daily uptrend confirmed
from here so wherever this bounce tops
out we break the daily stair step Bulls
need to get some of that going and then
ultimately we’ll still just be within a
sideways range if we’re really trying to
talk about the next up obviously we’ve
got to get through new all-time Highs at
73.7
S7 so that’s what we’ve got going on
with Bitcoin here let’s take a look at
ethereum it is a bit weaker we have got
a daily tightening range potentially if
Bears defend
3281 we know that we’ve already got our
monthly consolidation underway here but
we know that we’re absolutely looking
for a monthly higher low so step one of
shaping that up will be getting a weekly
bounce underway from here which if that
happens we’d have a weekly downtrend
confirmed without follow through and
that tells us to zoom out and look for a
bull flag that would be a monthly bull
flag so first question is going to be do
bulls confirm the daily uptrend by
getting through
3281 next question will be if they don’t
do that and we reject and stay within a
daily equilibrium can Bulls eventually
break that daily equilibrium to the
upside to get that Weekly bounce
underway it would be a similar result in
the end for both of those scenarios
one’s just faster and one takes more
time there so similar to bitcoin we’re
watching the 4H hour uptrend Bull’s
trying to get a 4H hour higher low set
here at
3169 got the low of yesterday
3117 and just trusting our uptrend here
Bulls riding the 4our 12 EMA and if we
really want to see eth Bulls come back
into the spotlight a little bit we’ve
got to see eth BTC confirm a daily
uptrend and get over Daily 12 EMA we
know bigger picture we’re battling this
key support here but we also know burden
appr proof is on bulls to try to squash
follow through they’re trying to squash
follow through on multiple occasions
here but had it for the taking had it
for the taking to get the first daily
uptrend in quite some time and Bears
still defending Daily 12 EMA so as long
as Daily 12 EMA is resistance on eth BTC
then we know that eth is the worst place
to have your money compared to bitcoin
so looking at LTC little daily Titan
range bull break testing Daily 12 EMA
now that is our weekly bounce getting
underway but we know we’re looking for a
weekly lower high compared to 113 we’ll
call it lots of space for that though
and we’ll just trust our little daily
uptrend as our guide so last higher low
is
7580 and LTC BTC similar to eth BTC
struggling to get a daily uptrend so
it’s holding on better than eth BTC
over the last few days but got to get
over a resistance which is 1339 and that
would bring LTC into the spotlight a
little bit more here so as far as alts
we have a pretty similar structure
across many alts it was like a daily
tightening range and then one by one
they’ve been popping through confirming
daily uptrends and getting weekly
bounces underway and just as I was
talking with the Dow and the Russell
getting over 4 Hour 12 EMA
foreshadowing the uh S&P 500 and Nasdaq
doing the same we have the same thing in
alts here let’s see we’ll go to the
weekend this is this is in the chart
guys here you know what is this Saturday
night the more alts that confirm the
daily uptrend and break that tightening
range to the upside the greater the odds
are that other others will follow
remaining mindful at BTC or if BTC sets
a daily lower high Al’s likely to
consolidate as well and and we’ve just
seen them one by one pop off through
that so we’ll kind of scroll through our
list pendle’s definitely doing its own
thing never even got weekly
consolidation underway but this is just
a daily EQ high low lower high higher
low anything below 715 going to be
another lower high if this breaks bull
weekly stair step continues and it
remains our lead bull up at Blue Skies
if it breaks bare weekly consolidation
underway and as long as 12 EMA remains
in support Bulls maintain
control fet so this was daily tightening
range bull break that is a weekly bounce
trying to get underway Bulls trying to
hold weekly 12 EMA and we’ll now watch
our daily uptrend so cooling off here a
little bit today pretty tame day daily
inside bars if those break bare we’ll
look for a daily higher low compared to
two or 185 we’ll call that probably a 4H
hour EQ yep high low lower high higher
low if this 4our EQ breaks bare then we
have got daily consol validation
underway if it breaks bull the show goes
on let’s see let’s look at Soul a name
that is now testing this daily
resistance looks like we popped it by a
sco we had 15606 we got
15664 so that is another one that is
following suit pushing over Daily 12 EMA
daily uptrend going to be the guide for
this weekly bounce that is now underway
and the big question will be do we get a
weekly lower high compared to alltime
high or do bulls just vshape it and
bounce off the two WE 12 EMA and call it
a two-e bull flag daily trend is going
to be the guide if we’re going to vshape
it we’re going to keep the daily uptrend
intact for the move up if we’re not
going to vshape it we’re going to get a
weekly lower high than the daily Trend
will become compromised so let’s see R&R
is another one where we’re testing this
resistance right now that is
947 we’ll call it 948 and we’ll see if
it can follow all of these other Bulls
who’s who’s broken it um that’s Phil
Phil broke it to the upside aav broke it
to the upside AXS broke it to the
upside avax broke it to the upside
stinker mtic has not broken it Ada broke
it to the upside so one by one they’re
all fallen through let’s look at our
meme coins Pepe broke it to the upside
Big Time follow through weekly bounce on
underway technically still holding EMAs
you can see Bull’s clinging onto it so
we are in a little dinky weekly
downtrend so we got to be cautious of a
lower high compared to 920 but it’s it’s
going to be the same thing always like
we know our most likely scenarios and
right now with this unless we see
increasing bull volume then a lower high
is the most likely scenario but after
identifying those most likely scenarios
that’s where we zoom in and we lean on
our Trends so we’ve got a daily uptrend
as our guide we’re not going to get a
weekly lower high if the daily Trend
does not become compromised that doesn’t
necessarily mean that you’ve got to like
straight up break the daily uptrend to
understand that the weekly move is
becoming compromised it can just be a
deep pullback that creates room for the
lower high and right here we’ll be able
to say all right the daily trend is is
weakening and points towards a lower
high for me but without that that’s
never you know we’re not going to get
that low or high it’s the same thing as
with Bitcoin when we looking for the
six-month lower high let’s go to the
six-month
chart we’re talking about the six-month
lower high every stream for half a year
but the whole thing was if we don’t lose
weekly 12 EMA it’s not going to shape up
and now we’ve been holding weekly 12 EMA
since October
so the the the multiple time frame
element of all of this is where the
power comes in nobody has a magic
eightball we just look for Clues we we
identify what each Trend means in
conjunction with the other Trends and
then we look for Clues on those Trends
to extrapolate out to the larger time
frames and we take it dayto day we get
new info every day so let’s see who’s
who’s popping
today Pepe is probably our lead Bull on
the day got SEI also doing good things
here we’ve lost the weekly uptrend come
on EMAs there we go lost the weekly
uptrend Fallen below weekly EMAs that is
monthly consolidation underway but we
know we’re looking for a monthly higher
low now we look at retracement size of
this bounce if Bulls retrace more than
50% of this move down which would
require getting over 69 cents and that
increases the odds of a monthly bull
flag because it decreases the odds that
bears can do that and confirm the weekly
downtrend to see deeper monthly
consolidation so watching that 0.5
retrace we get up like that then swing
trading bull is going to be scouting
weekly higher lows on next consolidation
and as far as our intad day or not
intraday but daily chart we’ve got a
daily uptrend we’ve got 4our uptrend we
got 4our 12 EMA support so that
structure is quite similar on a lot of
names here quite similar on a lot of
names inj pretty decent move off the
lows you could call it a dinky daily
uptrend but I don’t know if inj deserves
that we’ll look at the two-day for that
so big time move off the low 64% lots of
opportunity Bull’s going to be looking
for a two-day higher low compared to
that flush low from last week down to
1812 and we’ve got a 4our uptrend kind
of scraggly but that is the guide for
this daily move and now we’re into a 4H
hour EQ low high higher low lower high
higher low set if this breaks bare
that’s daily consolidation underway
two-day consolidation shaping up and if
it breaks bull the sh show goes
on show goes
on anything else I want to look at oh
let’s talk about miners so there’s a big
shift underway in miners here today
let’s pull up some daily charts and play
Spot the Difference so first we’ll look
at
Riot very strong day very strong day
looking at the daily just absolutely
beasting up 20% go back to the 5 minute
here let’s look at
clsk pretty strong day not as strong as
Riot but up new high of day pushing
higher strong daily bounce and now let’s
look at Mara
Mara is struggling look at this F minute
chart you know nice recovery off of low
of day but we’re now testing the morning
High Riot the morning high is back here
we’re we’re 10% % over the morning high
on Riot so huge shift underway and if we
look at Mara Riot ratio you can see this
shift this is the biggest red day we’ve
had on this
ratio maybe in ages how big was this
that’s 10.53 we’re down 133% yeah I
won’t waste time hunting for it but huge
shift huge shift underway out low of day
on this ratio and we have to be cautious
is this let’s turn off log so we can
get a little more don’t know if that
little more size on this we have to be
cautious if this ratio sets a six-month
lower high compared to 215 then that
will have Mara in the dogghouse compared
to Riot for quite some time we know it’s
been Mara the strong one Riot the weak
one for quite some time now and today is
a point towards that shifting and we’ll
see what kind of follow through it gets
see what kind of follow-through it gets
coming down to a clear base of support
but Riot
clsk um let’s see MST mstr not giving us
as much confidence that a daily high or
low is the most likely scenario
obviously not a minor but related um
coin similar to that so let’s just focus
on Riot tons of room for a daily higher
low clsk tons of room for a daily higher
low and this brings to the surface
another Point like what the heck’s going
on I thought the havening was supposed
to kill the miners well it brings up two
things one um the the concept of being
priced in uh because now how it’s
looking is that that adjustment is
certainly priced in Mara is getting
smoked for quite some time heading into
the known event of the havening riot
getting smoked for quite some time
heading into the known event of the
happening and now that the happening is
over they’re going up so that sure is is
behaving like something that’s priced in
and the other element at play is how
charts guide the way narratives it it
just gives you a bias to have to fight
against and you know people aren’t going
to like to hear this but I don’t know
diddly about the happening I get the
gist I get the gist but I don’t care
where it lines up within our cycles and
I’m expecting us to you know do this and
that and six months after the happening
alts are going to go up a thousand % or
whatever because that’s a bias that I
don’t want to have to fight if the alts
are going to go up a 100000% guess what
we’re going to confirm monthly bull
flags on everything that has seen
monthly consolidation the space is going
to remain healthy we’re going to
maintain daily uptrends and we’re going
to see healthy consolidation next time
it comes and and that will tell us that
you know alts are strong if we get more
alts into blue skies like say we get
soul back into blue skies like yeah
that’s a sign
that you know we’re getting that like
post happening alt season or whatever
you know another sign will be Bitcoin
dominance losing two WE 12 EMA for the
first time in well over a year at this
point so we know we want to see this for
an ALT season have Bitcoin chill out
have Bitcoin dominance die and have alts
go crazy do we need to like pull out our
calendars and get out our astrological
maps to try to plan ahead for this no we
get new information every day we adjust
every day and we take it day by day and
I say we you can do whatever you want
that’s what I do that’s what Dan does
it’s what many people in the chart guys
do and we’ll just see what we get from
here let’s check back in on Old
Bitcoin so not a lot changing not a lot
changing here looking at the 15 minute
got 15-minute uptrend a lot of room for
a higher low but we care more about the
larger time frames at this point care
more about the larger time frames at
this
point Let’s uh let’s go back into these
miners a little bit I got to add
clsk to the watch list
here because I want to click through
these let’s figure out what is our best
daily high or low by on the miners and
obviously we don’t know we don’t know
but let’s parse some probabilities
actually we have quite a similar
phenomenon here if you want to call it
that with Riot and clsk where you have a
clear Bas of support and you pop it and
then you rip clsk clear Bas of support
pop it and then rip yeah honestly tough
to pick on anything or tough to want to
put your money in anything else besides
clsk just due to its clear relative
strength I won’t be shocked at all if
that disappears and we stay within this
broader equilibrium but for now we just
got to take what the charts are giving
us so at this point that’s a weekly
uptrend lost with no follow through
already retracing half of the move down
I think we’re just past it now yeah so
odds pointing towards a monthly bull
flag there going to be looking for a
daily higher lows hourly uptrend daily
stair step guide same same deal as it
almost always is and as far as Riot we
know bigger picture were
weaker but it’s is this going to be a
quick quarterly high or low it’s only a
daily bounce at this point but I it’s
it’s a pretty notable daily bounce
42% yeah I I think clsk it’s tough to
tough to want to pick anything else and
you know you don’t have to just pick one
you could do both but for now or Mara is
is given out red flags so I’m if I’m
playing any of these I’m going to be
focusing on the Green Flags you know
it’s still a nice bounce you know tough
to scoff at 23% but when you look at
Pier that’s when you can start to scoff
at something like
that all right let’s see what y’all got
going on what up what up good morning
good morning to the morning folk
definitely afternoon here DK transcends
what up I appreciate you too man thanks
for tuning in alen good to see you I I
did have a good 420 went out on the
parkway with a friend had some dinner
watch the sunset and I’m I’m kind of
like dealing with some health stuff so
I’m not smoking right now so I made up
some edibles I did the firecrackers like
college style didn’t really know what
the dosing would be like and got way
more blowed than I intended but
fortunately was it’s the end of the
night I don’t really get stoned anymore
I like smoking weed but I don’t get
stoned except for Saturday
night all right we got a question if you
could only choose three ta indicators to
use for the rest of your life what would
they be and
why I would
choose the 12
EMA
RSI
and probably say keep your third
probably say keep your third but if I
got three then I guess I would do the 26
just for perspective of the 12 you know
I don’t play off the 26 I only really
play off of the the 12 but the 26 is
there to help with like understand
momentum understand magnitude of moves
like when you get a big move up and
these EMAs pull apart like that tells
you that you know you’re quite extended
to the upside when your EMA is crossed
to the downside that tells you that
you’ve got a notable shift underway so
I’d probably just keep it that simple 12
and
26 H actually maybe I wouldn’t do the 26
I might do like the the 200 simple
moving
average yeah I think that’s what I would
do some may say why not volume I don’t
know volume’s important but I I don’t
use it as much as those other things
mentioned
all right let’s see let’s check out near
for
Roadhouse near
usdt wow that’s a that’s one of our
stronger bouncers bouncers for sure so
what do we got here that’s a oh no
monthly consolidation so monthly stair
step still and Bulls Clinging On to
weekly 12 EMA coming into resistance of
770 we know key resistance is nine
definitely a volatile name and lots room
for a daily high or low next
consolidation little dinky daily uptrend
right 4our 12 EMA Rider yep and maybe
even hourly or 15 minute we’ll
go we go 30 minute boom I love when that
happens so we got 30 minute 12 EMA once
that’s lost we’re zooming out to 4 Hour
12
EMA crypto OG is asking if I can look at
the BTC weekly moon phase chart just
curious um let’s see if we can quickly
get uh get that indicator on there
because now I’m
curious the old moon
phases we’ll look at it on the
daily not looking too shabby
huh definitely getting local top
on new moons little local bottoms on
full
moons yeah I completely do not think
stuff like this is hogwash I don’t use
it in in my trading personally but not a
bad look there not a bad look there got
to call it how we see it let’s see
where’s our our new moon coming up maybe
in time for a daily lower high two-day
lower high daily consolidation whatever
you want to call it
yeah the the way I see so many things in
the markets is like there are many ways
to skin this cat and anybody who thinks
like my way is the way to do it this way
is wrong is is off mark off Mark the
most important thing is finding
something that one is an edge and two
resonates with our personality and our
trading style our strengths our
weaknesses so any anybody who’s like
hasn’t put in thousands of hours
studying moon cycles and says that the
moon cycle stuff is trash is off base
off base and that just is how it is but
you know being a a naturalist and very
like spiritual in touch with Mother
Nature and the universe and whatnot I
definitely think all sorts of stuff
hinges on the moon cycles and wouldn’t
be shocked at all or not shocked at all
to see you know what we’re seeing there
with
that all right
looking for relative strength to come
back into
Tia says star
Parco let’s see let’s see what we got
going on so Tia we know is one of our
early Blue Sky Bulls to top on the
monthly we know we’re looking for a
monthly high or low and Bull’s got to
get this weekly bounce underway got to
get the weekly bounce underway by
breaking above 1244 then we got a regain
a weekly uptrend so one step at a time
we got little daily EQ bull break you
know this isn’t much different than uh
LTC
USD little daily EQ bull break now kind
of pausing daily EQ bull break now kind
of
pausing let’s see let’s look at Tia
BTC so that’s really going to tell us
where the relative strength is coming or
going so much deeper pullback looking
for the monthly higher low and going to
be similar to LTC us or not TC Tia BTC
TI USD where we need a weekly uptrend as
step one we got tons of room for a
weekly lower high and we’ve got a Daily
uptrend Guide here
so probably looking for these bounces to
top out and then scouting plays off the
lows obviously it’s a it’s a long range
but let’s go back to Tia
USD and and just kind
of Envision how we could do this you
know most aggressive Bulls are going to
be looking for a daily higher low
looking for the ship just to be on go
from fomo to fear right back to fomo
leave everyone in the dust who’s looking
for a weekly higher low and all of that
stuff you know you’re going to be
looking for a daily higher low here
playing off of this double bottom we’re
patient full so you know go ahead get
another move up then start to Peter down
and then and then you’re trying to
position on this pullback and my
favorite way to do it these days is you
know switching from a line drawing here
to like drawing candles you get like a
daily stair step down something like
that maybe get back
to 4our oversold where would 4 Hour
oversold be again from here pretty
far 4our oversold currently would be
like 8.86 I guess that’s not too far but
you know get some extension to the
downside with a daily stair step pattern
and then take your crack at it on that
break you know wherever we come from
when that break
happens that’s where you’re taking your
crack you can get much more size on you
enter there you got your stop there
instead of like scaling in playing off
these lows you know your odds of getting
that trade off the ground are higher but
your size that you got to use when you
are um working with a 30% range you got
to use very small size but if you do
something like this you can use much
larger size you sell half you’re one to
one get risk- free then you got your
stop under there and if that ends up
being you know a two- day higher low or
whatever before the shift then you’re
good to go if you stop out hopefully
you’re already risk free and you lose
nothing and then you try it again so
it’s a trade-off that that technique
described is more labor uh you have to
do a lot more work to get something like
that off the ground but you get to get a
lot more size off the ground with that
so always a tradeoff and again this ties
into our trade style needs to match our
personality and our strengths and our
weaknesses I’m at the chart charts all
day every day um I’ve got 20,000 hours
under my belt uh 20,000 plus so
something like that a more Hands-On
approach with bigger size and less
margin for error like that’s what I’m
going to lean into all the time if I’m
there um somebody who has a day job or a
family or even friends um is probably
not going to be able to do that with as
much success
because that’s not fitting in with your
life so if you’re more hands off with
the stuff then you’re probably just
setting loose scales down small loose
scales get some bounce scale some out
get risk-free and then and then let the
market gods do as they
please we got a good evening bull strik
cheetah in the house got the full
spectrum you know that’s what I love
about this stuff we got people all over
the world tuning in it’s pretty
sweet pretty sweet I uh you know I’m not
good at the marketing stuff of of
working with the CH guys
which glad we’re talking about this we
got marketing stuff we got a giveaway
it’s uh I mean it’s sweet stuff let me
pull this up we are doing an indicator
giveaway we can learn about it together
is a giveaway for a one of our free
indicators and you got nine hours left
so sign up for that I’m going to put
the thing in here right
now and yeah that’s that so as far as
our
indicators where are they got some sweet
ones the back burner everybody knows
about the historical RSI is prime my
favorite of the bunch and not just
because I designed it um but it’s more
of a quality of life thing you know you
can get that information without the
indicator but um to be able to click to
a chart and and get it you know
instantly is very cool tradee keeper
Lor’s behind that and Trend Scout kind
of helps you with the multiple time
frame analysis stuff but yeah enter the
giveaway within nine hours and maybe get
a
freebie I did my job so yeah what I was
saying before I suck at the marketing
stuff I don’t enjoy the marketing stuff
I’m just a chart nerd but I do love chat
and charts I do love hanging out with
people from around the world here and
I’m grateful for all of
that bull strike where is the pre-market
show there’s going to be no pre-market
this week Lori is dealing with an injury
so she is out of commission for the week
she’s poking around the chart guys room
casually but no
streaming let’s see Roadhouse just
posted the 30 minute chart in the chat
room nice dude on the same page for
sure let’s see ND we got a new dude in
the house hi there a lot of people
recommend the chart guys so this is my
first live I seem to struggle with
identifying entry to trades on xauusd
and then knowing when to exit do you
have any tips um first tip is going to
be make sure that you’ve got some
structure to your stuff um you know
whether that be Trend based structure or
EMAs um if we’re looking at
Gold we’ve we’ve had a very clear guide
with the Daily 12 EMA uh that was the
guide for a while then we were riding
12h hour 12 EMA in in very bullish or
very bearish environments I love EMAs
for all of this stuff you you’ve got
your uptrends within there and whatnot
but uh the the EMAs kind of make it a
little more fluid little less rigid so I
I like to use those EMAs a lot
personally but as far as entering and
exiting you know it’s
probably you know I I don’t know where
you stand uh because there’s there’s
such a spectrum of of experience and I
could say a lot of stuff that just
doesn’t really make any sense if you’ve
been trading for a while um but here’s
the thing you know even if you’ve been
trading for a while like how we go about
things at the chart guys it’s it’s price
action Trend based structure for Stuff
um so if you go to chartguys.com there’s
like a free intro to TA course and that
kind of like explains how we go about
things and the beauty of it just like we
were talking about we we’ll go back to
the
Bitcoin um six month lower high example
you know due to to the depth of this
pullback a six-month lower high was the
most likely scenario but we know that if
we’re not going to lose the weekly 12
EMA and that six-month lower high is not
going to shape up and that was what
allowed us to to stay on the right side
of the trade um and remain on the right
side of the trade up till this
point but yeah as far as your entries
and exits you know you got to ask
yourself okay what time frame do I care
about am I looking for a weekly higher
low on gold am I looking for a daily
higher low on gold the larger the time
frame that you’re waiting for the more
conservative the smaller the time frame
the more aggressive and then you got to
work with your nested time frame concept
so if you’re looking for a weekly higher
low then you’re looking for Bulls to
regain the daily Trend if you’re looking
for a daily higher low you’re looking
for Bulls to regain a 4-Hour Trend
you’re looking for a 4H hour high or low
you’re looking for Bulls to regain a
15minute or hourly Trend so there’s no
real quick tip for that without uh
Without Really knowing more of of where
you’re at um where at but I would
recommend exhausting the free resources
there’s tons of free resources um and
along with that intro to TA course I did
a webinar series that the goal of the
series is pretty much everything that
you need to know to play the game it’s a
four-part series if you go to the
YouTube channel and playlists it’s
called Joey webinars and I’d start going
through that um and then that will
probably give you a lot more of an
answer than I can give you on a live
stream here I got let my cat in real
quick one
second m in sweet
potato come on love howdy
howdy howdy I’m streaming I’ll see you
later
let’s
see took a quick look at Hive another
minor so
Hive Hive is is pretty in line with Riot
it looks like over the past yeah those
charts are pretty similar it’s not as
strong now but lower low no follow
through lower low no follow through this
could be like a weekly falling wedge
looking for a quarterly higher low
that’s what Bulls hope for but got to go
one step at a time it’s
definitely stronger daily bounce than
Mara weaker than Riot and
clsk but both creating room for a daily
high or low
regardless let’s see Afro Samurai
starting to enjoy or not starting I love
trading especially now that I understand
some of it thanks to the Chart guys that
is good to hear sir that’s why we do it
that’s why we do it it’s always funny
you you see some people on Reddit and
they’re just like oh know chart guys is
just doing what they do for YouTube
Revenue I think the overall YouTube
Revenue since when Dan started posting
vids in like 2015 or whatever I think
it’s like 100k or something over almost
10 years now at this point so we don’t
do it for YouTube Revenue tell you
that oh Ryan Fe helping me with the
marketing hit the like button please I
forget I forget all this
stuff okay ND you’re so you’re much more
of a shorter time frame Trader if you’re
if you’re looking at uh you know five
minute time frames and whatnot so
basically everything that I said weekly
Daily 4 Hour that uh the the fractal
nature of all of this is what makes it
beautiful because that same thing
applies to 5 minute and hourly and 15
minute and 4 hour and all of that so if
you’re making trades on the five minute
you want your hourly and 4 hour to be
guiding your action so how I like to
view it is you have a task and then a
tool so your task would be like I’m
looking for an hourly high or low off
the 12 EMA um your tool then is zooming
into the F minute and seeing if you have
a head and shoulders wedge Trend change
a stair step something like that so
that’s the third webinar that talks
about the task and Tool and that’s
pretty much always my frame of mind with
any of this stuff uh what’s my task and
what tools do I have present to try to
execute that and we don’t get to pick
our tools the market shows us what tool
needs to be used and we have our tool
bag and you know it’s like being a
maintenance man you show up to a job you
don’t necessarily know what’s going on
whether you’re replacing an electrical
outlet
or if you’re um Harrison can you get off
here please babe knocking
over um are we replacing an electrical
outlet or are we installing a garbage
disposal you know you got different
tools for that stuff and once you show
up then you go into your tool bag and
then you you
execute let’s see bull strike cheetah
glad you enjoyed the webinar
boy this cat he’s feisty
[Music]
today all right last question here any
signs in your opinion of a left
translated cycle or is that not
something you pay much attention to I
don’t know what that means sir so I’m
not paying attention to
it I am I I you know I’m well aware of
Market Cycles I’m well aware of crypto
Cycles but I don’t put any timeline on
it I don’t do any like anticipatory
stuff from like a cular standpoint it’s
all Trend based stuff for me so that way
no matter what what you think doesn’t
matter and that’s one of the ultimate
truths of the market and I think that’s
my biggest beef with biases is what we
think doesn’t matter what we think does
not matter what the markets are doing is
the the only one truth out there is what
is the price right now what was the
price yesterday so what the price is now
what the price was yesterday what it was
a week ago that gives us our Trends and
then we are able to have a trend-based
structure that then gives us the ability
to identify what’s going on with those
Trends what are the implications where
do those imp implications extrapolate
out to and then that’s going to guide my
stuff
so Afro Samurai what’s your personal
views on Bitcoin bearish or bullish on
daily weekly I’m bullish on bitcoin as
long as we’re holding weekly 12 EMA as
long as we’re holding weekly 12 EMA same
thing it’s been for multiple months and
I am bullish on The Daily for now as
long as we have the daily stair step
intact once that breaks I’ll be bearish
on the daily looking for daily
consolidation once we get back down into
the range where we’re looking for a
higher low I’ll be back to being bullish
on The Daily looking for the higher low
and you know it’s here hold on just a
second babe let’s get you back
[Music]
outside good Heavens he’s gone he’s gone
mad he’s gone
mad um yeah I mean Afro Samurai my
stance is has been the same
for uh months now at this point
stance has been the same at months now
at this point break the monthly stair
step I’ll be more broadly
bearish hold the weekly 12 EMA I’ll
remain bullish as far as our daily we’re
testing resistance we know we’ll get
daily consolidation eventually I’m not
getting bullish here now but anybody
who’s in from and you know another shout
out to the historical RSI indicator that
Weekly 12 EMA flush down here 5 minute
historical RSI 15minute historical RSI
that was the second one we had the same
thing a few days prior so definitely
sweet but you know if you’re in from
down there yeah you’re still comfortably
bullish here you’re still comfortably
bullish because your average is down
there you’re not like trying to enter
here if you’re trying to enter here good
odds that you’ll be underwater um at
some point in the next week imagining we
get daily consolidation even if we
bounce up a few more days and then you
know pull back healthy daily
consolidation you know you’d be
underwater so if you’re looking bullish
you want to wait for daily consolidation
look to position down here then go for a
trend change and keep the show on the
road is the correlation between crypto
and SMH still gone let’s take a look
let’s take a look we’ll go Bitcoin
weekly it definitely broke a little bit
on Friday with with semiconductors
getting absolutely smoked
does this look
funny the heck where’ that
go give me a
second yeah I mean so it’s it’s busted
to a degree got
SMH deep pullback losing weekly support
Bitcoin technically lost it by a bit but
held the 12 EMA so it’s busted to a
degree but if we look at the daily
that’s not giving us too much let’s just
go just to SMH you know Bull’s trying to
get some bounce underway but yeah not
not trading in Step as they were
recently I’m checking on
nvda I got a nice position off the
ground on the chart guys stream this
morning hoping to swing that puppy
obviously a ton more work to do to do
though ton more work to
do all right that’s all I’ve got hope
you all have a
wonderful rest of your day rest of your
week we’ll see you later this week for a
check-in don’t forget about that
indicator giveaway don’t forget to hit
me up on
Twitter if you’re so inclined and if you
want me to stay on Twitter I’ve been
resisting it for a decade um and now I’m
here I’m enjoying it so far it’s been
pretty fun but uh yeah engagement is
what will keep that going not going to
just yell into a void not just going to
yell into a void all right
farewell manage your risk look for some
higher lows next consolidation if you
are so inclined that’s a personal
decision not a financial advice I’m not
a financial adviser and that’s all I got
take it easy everybody out yes

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