I AM GOING ALL IN RIGHT NOW !!!!!

Summary

In this crypto market update, the speaker analyzes Bitcoin and Ethereum's recent price movements, highlighting key support lines and bullish signals. With Bitcoin’s bounce above a major support level and Ethereum forming a double bottom, both cryptocurrencies show strong potential for growth. The speaker discusses trading strategies, including leveraging platforms like Bybit and Coinflare, and emphasizes the impact of recent news regarding the Strategic Reserve. With bullish sentiment and historical patterns suggesting a rally, the speaker believes it’s a great time to go long on both assets. A practical guide for traders to navigate the market is also provided.

Takeaways

• 😀 Bitcoin had a significant bounce due to the announcement of the Bitcoin and Ethereum strategic reserves.
• 📉 Bitcoin is currently above the important support level at 91.3, which is a critical resistance point.
• 📅 Markets are opening on Monday, and there's speculation that new liquidity could drive Bitcoin's price higher.
• 📊 Bitcoin almost reached its double top target and filled the CME gap, reinforcing a positive outlook.
• 💪 The trader believes Bitcoin is ready to resume its bull market and has opened multiple profitable positions.
• 🎯 Ethereum showed a bullish divergence and the trader caught the exact bottom, leading to a profitable trade.
• 🔄 A double bottom pattern is forming on Ethereum, suggesting a potential for a significant price rally.
• 💡 The trader expects Ethereum to follow the same path as previous historical rallies after forming a double bottom.
• 💸 Several platforms like WEEKS, Bybit, and Coinflare are recommended for trading, with Coinflare offering lower fees.
• 🌍 WEEKS is available in most countries except Nigeria, and a VPN (like NordVPN) can be used to access Coinflare globally.
• 📈 The trader is optimistic about both Bitcoin and Ethereum, expecting a bull market due to the strategic reserve news and favorable technical patterns.

Q & A

What was the major event that caused Bitcoin's price to bounce?

The major event that caused Bitcoin's price to bounce was the announcement of the Bitcoin and Ethereum Strategic Reserve, which sparked increased liquidity and market speculation.

What does the orange support line on the Bitcoin chart represent?

The orange support line on the Bitcoin chart represents a significant support and resistance level at around 91.3. This level is crucial for determining Bitcoin's future price movement, as staying above it is important for bullish continuation.

What is a 'bull flag' and how does it relate to Bitcoin's potential price movement?

A bull flag is a chart pattern that typically signals continuation of an upward price trend after a short consolidation phase. In this context, the speaker suggests that Bitcoin could form a bull flag near its support line before continuing higher.

What pattern did the speaker mention in relation to Bitcoin's price action?

The speaker mentioned the 'Double Top' pattern, suggesting that Bitcoin almost reached the target of a double top, but did not fully complete it. This was followed by a significant bounce in price.

What is the CME Gap, and why is it important for Bitcoin?

The CME Gap refers to the price difference between Bitcoin’s weekend close and the following Monday’s open, due to the CME Bitcoin futures market being closed over the weekend. The speaker notes that Bitcoin almost filled this gap, a critical technical indicator for predicting price movements.

What are the speaker's views on Ethereum's current price action?

The speaker believes Ethereum is in a bullish setup, having formed a double bottom pattern on the same support line as a previous bullish move. They expect Ethereum to rally similar to how it did after the previous double bottom pattern.

What role does intuition play in trading, according to the speaker?

According to the speaker, intuition plays a role in trading after years of experience. In this case, intuition helped them identify the low price point for Ethereum, where a potential price reversal was expected.

What does the speaker expect to happen to Bitcoin's price in the near future?

The speaker expects Bitcoin to continue its bull market, with the Strategic Reserve news being a strong catalyst for upward movement. However, they also mention the possibility of a short dip before further price increases.

What strategy does the speaker recommend for Bitcoin and Ethereum trading?

The speaker recommends going long on Bitcoin and Ethereum, suggesting that both cryptocurrencies are positioned to rise due to the current market conditions and technical patterns.

What trading platforms does the speaker suggest for crypto traders?

The speaker suggests several platforms for trading, including WEEKS (with a promotional offer), CoinFlare (for lower fees), and Bybit. They also mention using a VPN to access CoinFlare from anywhere in the world, except for certain restricted regions like Nigeria.