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16 Sept 202408:22

Summary

TLDRThe video script discusses an upcoming FMC meeting that could cause market volatility, advising viewers to avoid future trades. It suggests that if the market experiences a correction or downturn, support will be found in September, with a recovery expected to start in October. The speaker emphasizes setting 2025 as the target for any buying done in 2024, anticipating a 'bull run' that year. The script also covers Bitcoin's current price range, potential movements for other coins, and trading patterns like the descending triangle. It advises on entry points for buying and the importance of waiting for market confirmation before making trades, especially in light of the FMC meeting's potential outcomes.

Takeaways

📅 The FMC meeting is scheduled for today and tomorrow, which may cause market volatility, suggesting traders to avoid future trades.
📉 In case of a market correction and downturn, support is advised for traders, especially as September is the last opportunity month.
🔄 Recovery in the market is expected to start from October, with a focus on deep buying opportunities.
🎯 For any buying done in 2024, the target should be set for 2025, as it is anticipated to be a 'bull run' year, promising good profits.
📈 The current price range for Bitcoin is seen around 58,000, with a downtrend movement at 0.8, and Ethereum is seen in the range of 2,282 with a 0.1 side movement.
📊 The market overview indicates the need to monitor volume levels; without good volume, significant market movements are unlikely.
📈 The scenario for today and tomorrow depends on the FMC meeting, and if there's a price cut in interest rates, it could lead to a good recovery in the market.
📊 Bitcoin's chart pattern shows a 'four wave' time entry, indicating a trend reversal from 'lower low, higher high' to 'higher high, higher low', suggesting a market recovery.
🔔 The speaker advises holding the current position if the market shows recovery, as the trend is still up, and waiting for volume to increase for a potential recovery.
⏳ The speaker emphasizes waiting for the breakout of the descending triangle pattern and closing above 200 EMA before considering a significant market recovery.
🌟 The importance of the 62,000 level is highlighted, as it is a key support level that, if broken, could lead to confirmation of a market recovery towards 75,000 to 80,000.

Q & A

What is the significance of the upcoming FMC meeting for the market?
-The upcoming FMC meeting is significant as it may influence market volatility, and traders are advised to avoid future trades during this period.
What is the suggested approach for traders if there is a correction or downfall in the market?
-If there is a correction or downfall in the market, traders are expected to buy in support as it is September's last opportunity, and recovery is anticipated to start from October.
What is the target for buying in 2024 according to the script?
-The target for buying in 2024 should be set for 2025 because it is expected to be a bold run year, which could result in good profits.
What is the current price range for Bitcoin mentioned in the script?
-The current price range for Bitcoin is mentioned to be around 58,000, with a 0.8 down trend movement.
What is the importance of volume in the market according to the script?
-Volume is crucial in the market as it indicates the movement of maximum coins and tokens. Without good volume, significant market movements are not expected.
What is the current trend pattern for Bitcoin as described in the script?
-The current trend pattern for Bitcoin is a descending triangle, which is a bearish pattern indicating a downtrend.
What are the key support levels for Bitcoin mentioned in the script?
-The key support levels mentioned for Bitcoin are 200 EMA and 62,000, which are important for determining the next market movement.
What is the strategy if the market shows recovery after the FMC meeting?
-If the market shows recovery after the FMC meeting, it's suggested to wait for the breakout of the 62,000 level and then plan the long trade accordingly.
What are the potential targets for Bitcoin if the market recovers?
-If the market recovers, potential targets for Bitcoin are 67,500 and then 75,000 to 80,000, depending on the breakout and confirmation levels.
What is the advice for traders regarding the buying range if the market is in a downtrend?
-If the market is in a downtrend, the advice is to buy on the first approach, and if the second buying range is missed, not to worry as the next opportunity will be around 50,000.
What is the importance of the daily and weekly time and price according to the script?
-The daily and weekly time and price are important as they provide insights into the market's short-term and long-term movements, which help in planning trades.

Outlines

00:00

📈 Market Volatility and Future Trading Strategy

The speaker discusses an upcoming meeting of the Federal Open Market Committee (FOMC) which is expected to cause market volatility. They advise avoiding future trades during this period. The speaker emphasizes the importance of considering September's last quarter and suggests that any 'buying' should be targeted for 2025 due to an anticipated 'bull run.' They also provide a detailed analysis of the current market situation, mentioning the need for volume to increase for significant market movements and discussing the current price ranges for Bitcoin and other cryptocurrencies. The speaker outlines various scenarios for 'buying' and 'selling' based on market recovery or correction, and they highlight the importance of watching for certain price levels and patterns, such as the descending triangle and the potential for a trend reversal.

05:01

📉 Analyzing Market Trends and Recovery Potential

This paragraph continues the discussion on market trends, focusing on potential recovery scenarios following the FOMC meeting. The speaker advises against getting trapped in the market and provides specific price breakout points to watch for, suggesting that a market recovery could lead to significant gains. They discuss the importance of waiting for confirmation of market trends before planning trades and highlight the significance of certain price levels, such as 62000, which could indicate a market recovery. The speaker also touches on the possibility of a 'bull flag' or 'falling edge' pattern emerging, which could influence trading decisions. They conclude by emphasizing the need to respect the market's signals and to plan trades accordingly, with a focus on both short-term and long-term strategies.

Mindmap

Keywords

💡Market Volatility

Market Volatility refers to the rapid and significant fluctuations in the value of a security or a group of securities, typically driven by market sentiment and external factors. In the context of the video, the speaker discusses how an upcoming meeting of the Federal Open Market Committee (FOMC) could lead to market volatility, suggesting that viewers should be cautious with their trading strategies during such times. The script mentions 'market volatililty' in relation to the FOMC meeting, indicating that the speaker anticipates potential market swings due to this event.

💡Futures Trade

A futures trade is a contract to buy or sell a particular commodity or financial instrument at a predetermined price at a specified time in the future. The video script advises viewers to avoid futures trades during periods of high market volatility, as the unpredictability can lead to significant risks. The speaker implies that during times of market uncertainty, such as before an FOMC meeting, it might be wise to steer clear of such trades to protect one's investments.

💡Support and Resistance Levels

Support and resistance levels are prices at which an asset's price tends to stop and reverse. Support is the price level where the asset is expected to find support as it dips, while resistance is the price level where the asset is expected to find resistance as it rises. The script discusses these levels in the context of Bitcoin's price, suggesting that viewers should pay attention to these levels when making trading decisions. For instance, the speaker mentions specific price points (e.g., 62000) as potential support or resistance levels that could influence trading strategies.

💡Bitcoin

Bitcoin is a digital currency, created in 2009, that uses cryptography to secure transactions and control the creation of new units. It is the first decentralized cryptocurrency and has become a significant asset in the world of finance. The video script frequently references Bitcoin, discussing its current price, potential future price movements, and how it might be affected by the FOMC meeting and market volatility.

💡FOMC Meeting

The Federal Open Market Committee (FOMC) is the monetary policymaking body of the United States' central banking system. The FOMC Meeting is a key event in the financial calendar, where decisions about interest rates and other monetary policies are made. The script highlights the importance of the FOMC meeting, suggesting that its outcomes could significantly impact the market, particularly the price of Bitcoin and other cryptocurrencies.

💡Long-Term and Short-Term Trading Targets

Long-term and short-term trading targets refer to the price points that traders aim to achieve in the market over different time horizons. The video script discusses setting long-term trading targets for 2025, indicating a bullish outlook for the market over the next year. It also mentions short-term trading targets that could be influenced by immediate market conditions, such as the outcome of the FOMC meeting.

💡Volume

Volume in financial markets refers to the number of shares or contracts traded in a security or an entire market during a given period. The script mentions the importance of monitoring market volume, as it can signal the strength or weakness of a market trend. High volume can confirm a trend, while low volume might suggest that a trend is losing momentum. The speaker advises viewers to look for good volume to support their trading decisions.

💡Descending Triangle Pattern

A descending triangle is a pattern used in technical analysis that suggests a continuation of a downtrend. It is formed by a down-sloping trendline (resistance) and a horizontal trendline (support). The script discusses the formation of a descending triangle in Bitcoin's price chart, indicating that the speaker is using technical analysis to predict potential future price movements based on historical price patterns.

💡Breakout and Breakdown

A breakout occurs when the price of a security or index moves out of a trading range in a new direction, typically upwards, indicating a potential trend reversal or continuation. A breakdown is the opposite, where the price moves out of a trading range downwards. The video script mentions the importance of watching for breakouts and breakdowns, particularly in relation to support and resistance levels, as these events can signal significant changes in the market trend.

💡Interest Rate Cut

An interest rate cut refers to a reduction in the interest rate set by a country's central bank. Such a move can have wide-ranging effects on financial markets, including currency values and investment returns. The script speculates on the possibility of an interest rate cut during the FOMC meeting, suggesting that this could lead to a recovery in the market, particularly if the cut is more significant than expected.

Highlights

The FMI meeting today and tomorrow will cause market volatility, so it's advised to avoid future trades.

Support will be provided for short-term trades if there's a correction and a downturn in the market due to the September last opportunity.

Deep buying should start from October for a market recovery, aiming for the 2025 bold run target.

Bitcoin's current price is seen in the range of 58,000 with a 0.8 down trend movement.

Therm's price range is seen between 2,282 with a 0.1 up side movement.

For other coins, trading views are discussed on the platform txbf.org.

A four-hour wave pattern for Bitcoin is analyzed, indicating a trend reversal from lower low to higher high.

The descending triangle pattern is discussed, with a support level identified for holding positions.

If the market experiences a recovery, the first closing above 200 EMA will be crucial, followed by a move above 62,000.

The level of 62,000 is highlighted as important for confirming a market recovery and reaching the 67,500 level.

The importance of the 67,500 level is emphasized for confirming a recovery to the 75,000 to 80,000 range.

For those looking to buy, the current price is suggested as a good entry point for the first buy, with a second buy around the 50,000 range.

The daily time analysis suggests a downtrend with a significant angle, indicating a bearish pattern.

The formation of a descending triangle is discussed, and its potential to lead to a major downfall if broken.

The impact of the FMI meeting on the market is anticipated, with possibilities of interest rate cuts leading to market recovery.

The importance of closing above 62,000 and breaking the 67,500 level for a market recovery is reiterated.

The weekly time analysis suggests a recovery to the 75,000 to 80,000 target if the market closes above the 2021 all-time high.

The potential for a bull flag or falling edge pattern after a correction is discussed, with emphasis on waiting for breakouts or breakdowns.

Advice is given to wait for the breakout of the trend line and closing above 62,000 before planning long trades in a recovery.

The video concludes with a reminder to like, share, and subscribe for updates on market analysis.