Bitcoin Is Preparing A Price FAKEOUT [financial abundance]

Eric Krown Crypto
25 May 202411:14

Summary

TLDRThe video discusses a potential market setup for Bitcoin, analyzing daily statistics and suggesting that Saturdays in 2024 have a 55% chance of closing positively. It forecasts a likely range of movement for Bitcoin, with a critical support level above $66,000. The presenter also introduces a technical analysis tool, the Crown VMP indicator, which predicts an upcoming bullish move if certain conditions are met. The video concludes with a teaser of a sale for the upcoming week and a promotion for a free trial of a signal service.

Takeaways

  • 📈 The speaker discusses a setup that could potentially provide price and timing probabilities for Bitcoin's next move.
  • 🗓️ The analysis includes daily statistics from the beginning of 2024, showing Saturdays have a 55% chance of closing positively with an average return of under 1%.
  • 📉 The script mentions that if Bitcoin experiences a loss, it averages around 1.5%, and Friday's statistics played within this range.
  • 📍 The speaker anticipates a 'boring' market for Saturday with a potential range of 1% to the upside and 1.5% to the downside, suggesting stability.
  • 📊 Monday is highlighted as having the highest probability of closing positively since the beginning of 2024, with a 71.5% chance and significant average returns.
  • 🚫 A critical number for Bitcoin is identified as 67,800, where a closure below this could indicate a reversal in the market trend.
  • 📉 A bounce attempt is defined as a 'sticky area' where trading can occur, but it does not necessarily imply a reversal.
  • 📉 The speaker suggests that as long as Bitcoin remains above certain thresholds, the bullish trend is likely to continue.
  • ⏱️ A specific setup using the Crown VMP indicator is discussed, which has been effective in timing upside moves since the beginning of 2023.
  • 💰 The setup is expected to trigger an entry signal within hours, potentially indicating a bullish move that could last for about a week.
  • 🏆 The setup's historical performance suggests a winning trade average of nearly 15%, which is nearly double the average losing trade, making it a favorable long-term strategy.

Q & A

  • What is the main topic of the video?

    -The main topic of the video is discussing a setup that could provide price and timing probabilities for Bitcoin's next move, as well as the critical number that bulls must hold above to indicate a continuation rather than a reversal.

  • What is the significance of activating light code frequencies within DNA as mentioned in the video?

    -The phrase about activating light code frequencies within DNA seems to be a metaphorical or motivational introduction to the video's content, rather than a literal scientific process. It suggests igniting the flow of abundance, which could be interpreted as a prelude to discussing financial or investment strategies.

  • What is the average return for Saturdays since the beginning of 2024 according to the video?

    -According to the video, Saturdays have an average return of just under 1% since the beginning of 2024, with 55% of all Saturdays closing positively from open to close.

  • What was the average loss when Saturdays closed negatively since the beginning of 2024?

    -When Saturdays closed negatively since the beginning of 2024, they lost an average of about 1.5%.

  • How did Friday's statistics compare to the average in the video?

    -Friday's statistics played out within the expected range, finding the range low at exactly the average loss low and closing around the average gain.

  • What is the expected range for Bitcoin's price for the upcoming weekend based on the video?

    -The video suggests that the range for Bitcoin's price over the upcoming weekend is likely to be boring, with about 1% to the upside putting Bitcoin back around yesterday's high, and about 1.5% to the downside putting it around $67,500.

  • What is the highest probability day to close positively since the beginning of 2024 according to the video?

    -According to the video, Monday has the highest probability since the beginning of 2024 to close positively, with just over 71.5% chance and a significant average return.

  • What is the critical number that bulls must hold above according to the video?

    -The critical number that bulls must hold above, as mentioned in the video, is around $66,000. As long as Bitcoin's price remains above this level, the setup still favors long-term upside.

  • What does the video suggest about the likelihood of a reversal if Bitcoin's price closes below certain levels?

    -The video suggests that if Bitcoin's price closes below $66,000 on a daily basis or around $67,700-$67,800 on a 5-day time frame, it would be indicative of a reversal, likely bringing Bitcoin back down to the lower 60s.

  • What setup does the video discuss that could indicate the timing of the next move for Bitcoin?

    -The video discusses a setup based on the Crown VMP indicator, which suggests that if the indicator gets below 10% or more in an uptrend on the 12-hour and 3-day time frames, it will signal an entry and potentially time the next upside move.

  • What is the expected average winning trade percentage and average bars in winning trades for the discussed setup?

    -The discussed setup has an average winning trade of just under 15% and the average amount of bars in winning trades is 14, which on a 12-hour time frame equates to approximately 7 days.

  • What does the video suggest about the potential new all-time highs for Bitcoin if certain conditions are met?

    -The video suggests that if the discussed setup fires off and conditions align with other setups discussed on the channel, there could be new all-time highs for Bitcoin, potentially reaching towards $77,000 to $78,000.

  • What is the significance of the 5-day stochastic oscillator mentioned in the video?

    -The 5-day stochastic oscillator is significant as it indicates the momentum of Bitcoin's price action. A new tick over this indicator and a pivot move down to $6,575 suggest that as long as Bitcoin's price is above these levels, the market favors more immediate continuation rather than a reversal.

  • What is the implication of the video's mention of a sale starting on Monday?

    -The video mentions a sale starting on Monday for Memorial Day week, suggesting that viewers who are considering any of the programs or products discussed might want to wait a couple of days to take advantage of the discount.

  • What is the recommendation for viewers considering Meta Signals' 14-day free trial?

    -The video recommends that viewers check out Meta Signals' 14-day free trial to see if their spoon-feeding signal service is something they would like to use. The trial allows viewers to try the service without any commitment.

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Bitcoin AnalysisMarket TrendsDaily StatsPrice PredictionInvestment StrategyTrading SetupTechnical AnalysisCryptocurrencyInvestor InsightsMarket Timing
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