KEEP YOUR EYES ON THIS BITCOIN LEVEL!!

Summary

In this video, Mariah provides an in-depth analysis of Bitcoin’s current price action, focusing on a key trend line on the 4-hour chart. She discusses potential scenarios for Bitcoin’s price movement, emphasizing patience and following a disciplined game plan. Mariah reflects on recent trades, including a successful options trade on Coinbase, and highlights Ethereum’s weaker performance. She shares insights into how trend lines and market strategies can guide trading decisions. The video encourages viewers to stay informed and be strategic in their approach to crypto trading, with a mention of iTrust Capital for retirement accounts.

Takeaways

• 😀 Bitcoin is currently priced around $98,000, with a focus on monitoring key trend lines on the 4-hour chart for potential trading opportunities.
• 😀 The video reflects on a previous discussion about a trend line, which will determine whether to buy back into Bitcoin depending on its price movement above or below that line.
• 😀 A strategy was developed to stay patient and avoid chasing price movements, especially after Bitcoin briefly hit $100,000 but did not close above the trend line.
• 😀 The creator is looking for Bitcoin to close above the trend line on the 4-hour chart to confirm further upward movement, with a target range of $85,000 in mind.
• 😀 There is a close watch on Ethereum's performance as it tends to lead Bitcoin's movements, though Ethereum currently looks weak in comparison.
• 😀 The creator mentions a successful 35% gain from an options trade on Coinbase, emphasizing the importance of back-testing and using correlations between Bitcoin and Coinbase prices.
• 😀 Patience and sticking to a game plan are crucial in trading, as the creator avoided chasing quick profits and instead adhered to long-term strategies.
• 😀 The 4-hour chart is given more significance than shorter timeframes, as it provides more reliable signals for Bitcoin's price movements.
• 😀 Ethereum's technical chart shows signs of a bearish flag on the 12-hour chart, with further downside risk if it cannot hold a key support level.
• 😀 The creator shares personal insights on retirement accounts, mentioning their experience with self-employment and the process of transferring a 401(k) to an IRA with iTrust Capital.

Q & A

What is the current price of Bitcoin mentioned in the video?

The current price of Bitcoin is approximately $98,000.

What did the speaker mention in the video about their Bitcoin trade from a couple of months ago?

The speaker sold their Bitcoin at an average price of about $997,000 and is waiting for a better opportunity to buy back at a lower price.

What trend line is the speaker focusing on, and why is it important?

The speaker is focusing on a trend line on the 4-hour chart, which has shown multiple touch points and is used to gauge the potential direction of Bitcoin's price movement.

What would cause the speaker to re-enter their Bitcoin position?

The speaker would re-enter their Bitcoin position if the price closes above the trend line on the 4-hour chart, indicating a potential upward movement.

How did the speaker react to Bitcoin's price moving above $100,000?

The speaker chose not to chase the price when it briefly spiked above $100,000, sticking to their plan and waiting for a proper close above the trend line on the 4-hour chart.

Why does the speaker consider the 4-hour chart more significant than the 1-hour chart?

The speaker believes the 4-hour chart provides more reliable signals and better guidance compared to the 1-hour chart, which they don't have as much confidence in.

What trade did the speaker mention making with Coinbase options?

The speaker made a 35% gain on a small position in Coinbase options, after backtesting trends and identifying a profitable entry point.

What is the relationship between Bitcoin's price movement and Coinbase's stock price?

While Bitcoin and Coinbase may seem correlated, the speaker noted that Bitcoin trades 24/7, while Coinbase only operates during market hours, so the correlation doesn't always hold.

What did the speaker observe about Ethereum's price movement?

The speaker observed Ethereum looking weak, with a potential bearish flag on the 12-hour chart and trend lines indicating possible further downside movement.

What key price level is the speaker watching for Ethereum?

The speaker is watching the $2,656 level for Ethereum to see if it can hold as support, as this will provide insight into whether Ethereum can continue upward or face further declines.