BITCOIN WARNING!

Summary

In this video, Mariah Monetized discusses Bitcoin’s price trajectory, reflecting on her past advice to buy Bitcoin when it was at $1,000. She provides her current strategy for catching a local top between $97,000 and $100,000, anticipating a pullback in the coming weeks. Mariah explains how she uses tools like Fibonacci levels and psychological price points to predict market movements, alongside insights from experienced traders. She also shares personal anecdotes, including her scooter rental business in Puerto Rico, and her passion for improving visitors' experiences on the island.

Takeaways

• 😀 Mariah discusses Bitcoin's price and predicts a potential pullback within the next month, targeting a local top near $100,000.
• 😀 Mariah mentions using insights from Tone Vays, a respected trader with over 20 years of experience, to guide her Bitcoin strategy.
• 😀 Psychological price points like $100,000 are critical when predicting market movements, as traders tend to place sell orders around these levels.
• 😀 She anticipates a pullback after Bitcoin hits between $97,000 and $100,000, with potential buy orders placed around $87,000 to $80,000.
• 😀 Fibonacci levels have become a key tool for Mariah in predicting all-time highs and pullbacks, particularly the $87,000 level.
• 😀 Mariah shares that her strategy includes scaling out of Bitcoin positions as prices approach key levels, aiming to sell a portion and buy back at lower prices.
• 😀 The importance of timeframes and daily chart closes is emphasized. A daily close below a trendline is considered a stronger bearish signal.
• 😀 She discusses the concept of 'looking left' on charts, where past price action, especially previous all-time highs, helps predict future price movements.
• 😀 Mariah stresses the importance of education in trading, having spent a lot of time this year learning and improving her decision-making skills.
• 😀 In addition to Bitcoin, Mariah shares her business venture in Puerto Rico, where she rents out scooters and Jeeps, aiming to enhance visitors' experiences on the island.
• 😀 She ties her passion for Puerto Rico and its culture to her business, hoping to make people's visits more enjoyable and memorable.

Q & A

What is the current trend in Bitcoin's price according to the speaker?

The speaker notes that Bitcoin has recently broken its all-time highs and is currently in a bullish phase. She anticipates that Bitcoin could experience a local top around $97,000 to $100,000 in the near future, followed by a potential pullback.

What is a psychological top in Bitcoin trading?

A psychological top refers to a round number, like $100,000, which traders often target as a selling point. The speaker explains that many traders place their buy or sell orders around these psychological levels, and seasoned traders typically front-run these levels by placing orders just below them, anticipating that the market will hesitate around these numbers.

What is the significance of Fibonacci levels in Bitcoin price analysis?

Fibonacci levels are used to predict potential support and resistance levels in price movements. The speaker mentions that she uses Fibonacci retracement to analyze Bitcoin’s price, particularly in all-time high ranges, and how the price has historically respected certain levels, such as the $87,000 range.

How does the speaker use Fibonacci to predict Bitcoin's price action?

The speaker uses Fibonacci retracement by drawing lines from a swing high to a swing low. This helps her identify key levels where the price may pull back or face resistance. She also reflects on how the price has respected Fibonacci levels in the past and uses this to anticipate future behavior.

Why does the speaker believe Bitcoin will experience a pullback?

The speaker anticipates a pullback in Bitcoin’s price because she expects the market to correct after reaching new all-time highs. She is targeting a range between $80,000 to $87,000 for buying Bitcoin back after selling off a portion at higher levels.

What is the importance of looking at historical price action ('looking left') in Bitcoin trading?

The concept of 'looking left' involves analyzing past price behavior to predict future movements. The speaker highlights how Bitcoin's price has repeatedly tested certain levels, like $72,000 and $54,000, and how these historical levels can weaken over time, providing insights into where the price might break through or pull back.

How does the speaker handle Bitcoin price predictions with timeframes?

The speaker emphasizes the importance of using timeframes in Bitcoin price analysis. She notes that while it's not always possible to predict exact tops or bottoms, observing price action over time helps refine her expectations and increase her confidence in predictions.

What is the speaker's strategy for trading Bitcoin near the $100,000 price level?

The speaker plans to sell a portion of her Bitcoin as it approaches the $97,000 to $100,000 range, anticipating a pullback. She intends to buy back Bitcoin at lower levels, particularly between $80,000 and $87,000, to increase her position over time.

How does the speaker's past advice on Bitcoin at $1,000 reflect her investment philosophy?

The speaker’s past advice to buy Bitcoin at $1,000 reflects her long-term investment strategy and belief in the cryptocurrency's future. Despite others not following her advice at the time, she has remained committed to Bitcoin, investing whenever she could, and has seen her position grow over time.

What business does the speaker operate in Puerto Rico, and how does it relate to her passion for the island?

The speaker runs a scooter and Jeep rental business in Puerto Rico, which she started because she is passionate about the island and wanted to enhance the experience of visitors. She believes that offering these rentals allows tourists to explore the island more freely and enjoy Puerto Rico’s unique beauty and culture.