The Weekly Stochastic RSI Bull Flag Pattern - 1 Big Trick to Spot It (Aug 20 2024)
Summary
TLDRIn this exclusive bonus video, the speaker discusses the potential of a weekly stochastic RSI cross for Bitcoin, an event anticipated for months that could rival the 'two-month gravestone doji.' They provide insights on trading a bull flag pattern to maximize profits while minimizing risk, sharing a valuable tip for the stochastic RSI applicable throughout one's trading life. The speaker also hints at more exclusive content for email subscribers, emphasizing the importance of whitelisting their emails to receive future bonus videos.
Takeaways
- 📈 The speaker is discussing a potential weekly stochastic RSI cross, a significant event that could impact the cryptocurrency market.
- 📊 The stochastic RSI has been range-bound for about 175 days, a period that Bitcoin often favors before making a significant move.
- 🔄 The market can be trending upwards, downwards, or range-bound, and Bitcoin has a history of prolonged moves around the 200-day mark.
- 📉 Bitcoin's stochastic RSI has shown prolonged bullishness, which is typically followed by a period of bearishness as the market reverts to the mean.
- 🚫 The speaker warns against trading within chart patterns before they confirm, emphasizing the importance of waiting for a breakout or confirmation candle to minimize risk.
- 📊 A bull flag pattern is described, characterized by a significant bullish move (flag pole) followed by a consolidation into a specific formation with parallel resistance and support lines.
- ⏳ The importance of timing is highlighted, with the speaker noting that the confirmation of the stochastic RSI cross only matters at a specific time (Sunday 11:59 p.m. UTC).
- 📌 The speaker suggests that the current market setup, including the bull flag and the potential stochastic RSI cross, could lead to a new all-time high for Bitcoin.
- 🔑 A 'secret tip' is mentioned regarding the stochastic RSI, indicating that understanding prolonged periods of bullishness or bearishness can be valuable for future trading decisions.
- 💌 The speaker encourages viewers to whitelist their email to receive exclusive bonus videos, promising more content in the coming months.
- 🤝 The video concludes with a reminder to stay informed and make decisions based on facts, rather than speculation or emotion.
Q & A
What is the significance of the weekly stochastic RSI cross mentioned in the video?
-The weekly stochastic RSI cross is significant because it indicates a potential market shift. It's a rare event that happens a few times a year and is associated with the most bullish market entries, suggesting that it could be a pivotal moment for Bitcoin's price action.
What is the 'two-month gravestone doy' referred to in the script?
-The 'two-month gravestone doy' is a term used to describe a particular bearish chart pattern that occurs on a higher time frame, specifically a two-month time frame, which is seen as a significant resistance level for Bitcoin's price.
Why is the bull flag pattern important for traders according to the video?
-The bull flag pattern is important because it typically follows a parabolic rise in the market, indicating a consolidation period. It is seen as a continuation pattern that suggests the market may continue to trend upwards after the consolidation, making it a key indicator for traders looking to maximize profits and minimize risk.
What does the speaker suggest about trading inside chart patterns?
-The speaker advises against trading inside any chart pattern before it has confirmed, as there is no chart pattern that is 100% reliable. Instead, traders should wait for a breakout or a confirmation candle to minimize risk and maximize reward.
What is the role of the trend line in the analysis presented in the video?
-The trend line plays a crucial role as it represents a long-term support or resistance level. When a trend line is broken, it often signifies a significant change in momentum, which can lead to a strong move in the direction of the breakout.
Why is the duration of Bitcoin's range-bound period important?
-The duration of Bitcoin's range-bound period is important because it often precedes a significant market move. Bitcoin tends to have prolonged moves around the 200-day mark, and the current period of about 175 days is close to this historical pattern, suggesting an imminent trend change.
What is the 'pivot high' and 'pivot low' mentioned in the video?
-The 'pivot high' and 'pivot low' refer to the highest and lowest points in a market's recent price action that act as potential support and resistance levels. They are used to identify the structure of the market and can be key indicators for future price movements.
Why is the speaker encouraging viewers to whitelist their email?
-The speaker is encouraging viewers to whitelist their email to ensure they receive exclusive bonus videos that are sent out. These videos contain valuable insights and updates that are not publicly available, and whitelisting ensures they are not missed.
What is the significance of the stochastic RSI being overextended at the 100 level?
-The stochastic RSI being overextended at the 100 level indicates prolonged bullishness. This condition often precedes a reversion to the mean, suggesting a potential price correction or a period of bearishness as the market seeks to balance the previous overextension.
What does the speaker mean by 'everything reverts back to the mean' in the context of the stochastic RSI?
-The phrase 'everything reverts back to the mean' refers to the statistical concept that after a period of extreme values, whether high or low, the values tend to move back towards the average or mean. In the context of the stochastic RSI, it suggests that after a prolonged period of bullishness, the market will likely experience a period of bearishness to balance out the previous trend.
Outlines
📈 Anticipating a Potential Weekly Stochastic RSI Cross
The speaker introduces an exclusive bonus video for the email list, focusing on the anticipation of a weekly stochastic RSI cross that has been awaited for months. This event could challenge the two-month gravestone doji pattern. The video will also cover an update on a 'bull flag' pattern and provide trading tips to maximize profits and minimize risks. A special emphasis is placed on the importance of whitelisting the email to receive future bonus content. The speaker hints at an increase in exclusive videos in the coming months and starts the discussion with the stochastic RSI, noting Bitcoin's range-bound behavior for approximately 175 days, a pattern it often follows before making significant moves.
📊 Understanding Bull Flags and Trading Strategies
This paragraph delves into the concept of a 'bull flag', a chart pattern that often follows a parabolic rise in the market. The speaker explains the structure of a bull flag, characterized by a flagpole indicating extreme bullishness, followed by a consolidation into a specific formation with parallel lines. The importance of not trading within the chart pattern is stressed, with advice to wait for a breakout or confirmation candle to minimize risk. The discussion includes the significance of watching for a breakout on the weekly time frame and the potential implications of a new pivot high, suggesting a possible upward trend.
🚀 Preparing for a Breakout with Stochastic RSI Cross
The final paragraph emphasizes the importance of the upcoming stochastic RSI cross, which the speaker has been highlighting for months as a critical event for Bitcoin's potential to reach new all-time highs. The speaker discusses the rarity and significance of such crosses, which typically indicate a strong bullish entry into the market. The paragraph also touches on the importance of waiting for confirmation on the charts before making any trading decisions, and the need to stay informed with more bonus videos to come. The speaker encourages viewers to engage with the content and to keep an open mind to various market scenarios while focusing on facts and patterns.
Mindmap
Keywords
💡Stochastic RSI
💡Bull Flag
💡Range Bound
💡Parabolic
💡Breakout
💡Confirmation Candle
💡Trend Line
💡Resistance Zone
💡Support Level
💡False Signal
Highlights
Introduction to an exclusive bonus video for the email list subscribers.
Discussion on the potential weekly stochastic RSI cross that has been anticipated for months.
Opinion on the significance of the stochastic RSI cross in comparison to the two-month gravestone doji pattern.
Update on the bull flag formation and its potential impact on trading strategies.
Tips on trading the bull flag to maximize profits and minimize risks.
A big trick with the weekly stochastic RSI applicable for lifelong use.
Emphasis on whitelisting the email to receive exclusive bonus videos.
Bitcoin's range-bound behavior and its typical duration of 100 to 200 days.
Analysis of Bitcoin's stochastic RSI history and its tendency for prolonged bullish or bearish periods.
Explanation of the concept of 'reversion to the mean' in the context of stochastic RSI.
Identification of false signals in the stochastic RSI and their impact on market behavior.
Structural analysis of Bitcoin's pivot points leading up to a potential cross.
Importance of observing the stochastic RSI cross at the exact UTC time for accurate market prediction.
Description of the bull flag formation and its characteristics in market trends.
Advice against trading inside chart patterns before confirmation of market direction.
Strategy for trading the bull flag by waiting for a breakout and confirmation to minimize risk.
Discussion on the potential of the stochastic RSI cross to challenge the two-month gravestone doji and its implications for Bitcoin's all-time high.
Encouragement for viewers to stay informed with upcoming bonus videos and the importance of email whitelisting.
Transcripts
welcome to an exclusive bonus video
exclusive to you on our email list we've
got a lot to cover in this video I want
to cover my opinion of this weekly
stochastic RSI cross that is a
potentially about to happen something
that we have been waiting months and
months for something that could
potentially battle the twomon gravestone
dogee it could finally be upon us I want
to give my opinion on that also we have
what's called a bull flag for me I want
to give you the update of the bull flag
and how to trade that bull flag to
maximize your money and some tricks to
minimize your risk I also want to give
you one big trick with the weekly
stochastic RSI something that you can
use the rest of your life all of this
jam-packed value into one video I do a
lot of these bonus videos for free to
everyone on our email list just to show
love make sure you whitelist my email if
you don't whitelist my email address
you're never going to get these videos
and I'll give you a little inside tip
I'm going to be pumping out more
exclusive bonus videos this the rest of
this month and next month so you better
whitelist the email you do not want to
miss these bonus videos so if you're not
sure how to Whit list it just do a quick
Google and you're good now let's get
into it I want to do the bull flag I
want to do the weekly stochastic RI and
then a little trade tip on the bull flag
and a little secret tip on here so let's
start with the stochastic RSI the star
of the show the thing that we've been
waiting months and months for so let's
do a little update on where we are and
where we have been so basically
bitcoin's been range bound right range
bound for about
175 days keep in mind the market can be
a trending Market or a range bond market
there's only two kinds of markets you
can Trend either upwards or Trend
downwards and range bound is just going
sideways one of the things that to keep
in mind with the range bound is how long
Bitcoin loves that 100 to 200ish days
keep in mind this move here was a little
bit more than 200 days this move here
was a tiny bit more than 200 days this
was about 100 days and we're at 175 so
Bitcoin really loves to make prolonged
moves right around that kind of 200ish
Mark days and and we're really really
close to that so what has happened is
Bitcoin went pretty parabolic in our
stochastic RSI prolonged bullishness for
an extended period of time case in point
take a look back here in September 202
three one year ago we had a huge
stochastic ride cross it was after we
had been range Bound for about 200 days
sound familiar we had a stochastic r eye
cross and we went parabolic when we went
to parabolic we went all the way up in
our stochastic RSI and topped out at 100
and stayed there for an extended period
of time a prolonged bullish case here
and then we ended up going down down in
breaching the 20 for a tiny bit of time
and then we went right back to being
absolutely prolonged overextended
bullish now what typically happens with
that is you see a period everything
reverts back to the mean so if we spent
way too long being bullish and we didn't
really have time to cool off and we did
it again on the next one and we stayed
bullish for too long we needed time to
really cool off everything reverts back
to the mean case in point look at any
time that we had a prolonged time of
bearishness in the stochastic RSI it was
right after a ridiculous amount of
bullishness and not enough time below
the 20 and way too long up at the 100
that's why we had this period here
everything reverts back to the average
so this is a huge tip that you can use
the rest of your life when you're in a
situation where it's like wow we've been
prolonged bullish for so long we're
going to have a period of bearishness
under that 20 Level so what we've had
prior is prolonged bullishness no time
to really cool off and really reset what
we were doing we had this period here
just below the 20 but really moments
below the 20 and then back up so what we
had seen back here in May is we had a
cross up so may we had a cross up and it
turned out to be a fake out a false a
false positive right so we ended up
going from our base down here about 50
56,000 and we rallied back up to our
resistance Zone with that fake out and
then we crossed back down and we simply
went from our resistance Zone back down
to our base and then we had another fake
out cross and we simply went back to our
resistance Zone we just been bouncing
along in this channel nothing too
exciting but again Bitcoin loves these
moves of you know 150 to 200 days of
really pulling the trigger in making a
large move so we are gearing up right
now for a another cross the good thing I
liked about this fake out that we had
just had is it actually made a new pivot
higher high this was our prior high in
June this was our new high in July as
well as our pivot bottom so far right
this was our pivot low and this is
potentially our pivot higher low with a
potential cross so that's something to
keep in mind just structurally you want
to see that going into this cross now
here's what we want to look for right
you want to look for on Sunday evening
11:59 p.m. UTC time what this looks like
this could look different later today it
could look different tomorrow it could
look different the next day none of
those days matter at all it only matters
what this looks like on Sunday 11:59
p.m. UTC time that's it everything in
between now and then is pretty much
irrelevant so stay levelheaded this
could switch back up it could switch
back down back up down multiple times in
the same day and you are are relaxing
okay now let's get to the bull flag the
bull flag is really interesting because
we have this huge flag pole here right
now what a bull flag is is basically you
have this flag pole the flag pole will
be an incredibly bullish point where the
market goes parabolic right when it goes
parabolic it creates this almost like a
flag pull it's straight up once you have
this extreme bullishness enter the
market usually there's a consolidation
period but it consolidates into a
specific formation case in point a bull
flag so what we're going to do here just
to keep it simple we'll go ahead and
hide this we'll go ahead and delete this
and delete this now what you want to see
on a bull flag is you want to see
parallel lines right so you come from up
here to down here you can see that we
have this channel here where you
essentially have a high a lower high a
lower high and a lower high multiple
touch points with consecutive lower
highs now at the bottom of our Channel
and by the way this acts as resistance
so every time it gets into said Zone
there's resistance resistance at this
touch Point resistance here resistance
here and resistance here all while
creating continuous lower highs now at
the bottom of our Channel it access
support right what you see Happening
Here is multiple touch points here and
you want to see the lines relatively
parallel in a textbook bull flag you
want to see multiple touch points and
you want to see the bottom of our
Channel act as support and the top of
our Channel act as resistance now what
you never want to do is trade inside of
any chart pattern right no matter what
chart pattern you're being told is on
the chart and it's going to be be so
bullish or so bearish it doesn't matter
what they say you do not trade in any
chart pattern known to man there's no
chart pattern in the history of chart
patterns where you make a trade inside
of the chart pattern before the chart
pattern actually happened meaning what
you want to do if you're like hey this
is a bull flag well some people will say
I'm just going to blindly buy because I
think bull flags are bullish it says
bull right in the name well what you
never want to do is trade inside because
nothing is 100% there's no chart pattern
that starts to play out where 100% of
the time it does the same thing it
doesn't happen the majority of the time
these break to the upside I said
majority I didn't say 100% there's no
such thing as 100% so if you were to
make a trade in here thinking it's going
to be bullish and then this thing breaks
down you're in
right so what you want to do instead is
you wait for a
breakout now when you some Traders will
wait for a breakout so this thing starts
cracking and it starts going up and we
have a breakout and they're like you
know what I'm entering my trade here you
could do that but it does add more risk
doing it that way and here's why more
experienced traders that want to
minimize risk will wait for a
confirmation
so we're looking at the weekly time
frame right depending on what time frame
you're looking at you wait for a
breakout or a break through right it's
any candle that breaks above here and
you wait for the closing of that candle
once that closes that's called the
breakout candle you can trade on the
breakout but more risk other Traders
will minimize the risk and wait for a
confirmation candle that's the following
candle that closes if that closes with
this this line as
support that is when you enter the trade
that will minimize the risk even more
and maximize your reward to the upside
with a more higher probability that this
thing's going up right it's less likely
that this thing has a breakout candle
and then a confirmation candle and then
collapses to the downside although that
could happen but it's relatively rare So
Traders will wait for that break through
or breakout candle same same thing
breakthrough breakout and then
confirmation candle is that second one
right it's that candle that actually
closes keep in mind so that's how to
trade this right when you pair all of
this together you say okay we're in a
bull flag and we're getting ready for a
stochastic I Cross isn't this thing like
100% nothing's 100% at the same time we
do have this trend line which we talked
about in the YouTube channel we also
talked about how when you break a
long-term trend line these things are uh
pretty good when you break it there's a
lot of momentum on in our on our side
and pushing prices upward all of these
things are true we just need to wait for
actual confirmations in the charts so we
can go based on facts right now we're
still inside of a bull flag and we still
haven't had this cross and we still
haven't had this break through all of
those things are true at the moment
there's no definitive yes or no or
bullish or bearish there's just the
facts that we have stated right here so
what are we really looking for with this
crossup well this crossup as I've been
mentioning for months now this is the
only thing that could battle the
two-month gravestone doy the two-month
gravestone dogee is obviously on a much
higher time frame a two month as opposed
to a one week but these crosses only
happen once in a while you know a couple
times a year you can get a stochastic ey
cross and those happen to be when the
most bullishness enters the market we
happen to be coming off of not one but
two false signals both of which
continued our move inside of this bull
flag and continued this range-bound move
that Bitcoin loves to do especially
after a parabolic move so all of these
things are lining up on the charts and
this could be bitcoin's chance to make a
new all-time high as I mentioned months
ago Bitcoin will not make a new all-time
high and will not have a chance to
unless it has a weekly stochastic II
cross that's something I said months and
months and months ago and we could be on
the cusp of that now there are some
bearish charts that we've got to discuss
and we have to keep an open mind for
what's to happen but we're going to
continue to look further into the facts
so that you have more knowledge on your
side I'm going to be making more bonus
videos this month and next month make
sure you whitelist our email address so
that you can actually get these bonus
videos put a comment throw a like on
them and I'll see you right here in the
next bonus video
peace and love to the fellow underdogs
関連動画をさらに表示
BREAKING: BITCOIN JUST PRINTED 3 BIG SIGNS – DO THIS NOW
WARNING: BITCOIN JUST PRINTED CRYPTIC CANDLE – DO THIS NOW
BREAKING: GAUSSIAN CHANNEL ABOUT TO FLASH BLOODBATH SIGNAL
WARNING: LAST 2 TIMES THIS HAPPENED IT WAS OVER
WARNING: BITCOIN FLASH DUMP – IS IT OVER OR ABOUT TO GET MUCH WORSE
Bitcoin Forecast for September 2024 (based on astrology)
5.0 / 5 (0 votes)