The Most OBVIOUS Crypto TRAP Is Happening RIGHT NOW! [Do This URGENTLY]

Summary

In this video, the speaker discusses a significant correction in the crypto market, labeling it a 'trap' and offering an important market update. They analyze Bitcoin's sharp decline, the panic it caused, and the contrasting opinions on social media. The speaker shares their opinion on market positioning, anticipating future trends, and strategies to take advantage of the situation. They delve into data, recount past events, and provide technical analysis on various cryptocurrencies, suggesting that despite the downturn, savvy investors can capitalize on these market movements, especially during major capitulation events.

Takeaways

• 📉 The crypto market has recently experienced one of the biggest Bitcoin corrections this cycle, causing panic among investors.
• 📈 Despite the correction, the altcoin market defended the GCR level, which has become a significant cultural support level in crypto.
• 🗣️ There is a lot of contrasting and divided opinions on social media, especially Twitter, regarding the current state of the market.
• 📊 Force selling rumors, such as those related to Mount Gox and Germany, have a greater impact on price than the actual selling events.
• 📉 Historically, announcements related to Mount Gox have coincided with times when the crypto market is losing momentum, potentially marking local bottoms.
• 💡 The speaker believes that buying during major capitulation events provides a better risk-reward entry than trying to catch a falling knife during slow bleeds.
• 📈 The speaker made significant buys during the recent correction, considering it one of the top three buying days of the year.
• 📊 The speaker suggests that the interest in crypto should scale inversely to prices, especially when there is a clear macro trend, buying more when prices are low and selling during pumps.
• 📉 The speaker anticipates that the market's worst drawdown may be over, with the potential for a continuation of the rally if Bitcoin can reclaim key levels.
• 🔮 Looking at the macro perspective, the speaker sees a strong bull case for crypto, with various macro tailwinds such as regulatory shifts and the upcoming election.

Q & A

What is the main topic discussed in the video script?

The main topic discussed in the video script is the analysis of a significant correction in the cryptocurrency market, particularly focusing on Bitcoin, and providing insights into market trends and strategies for investors during such periods.

What does the speaker identify as one of the biggest traps in the crypto market?

The speaker identifies the panic and contrasting opinions following a major Bitcoin correction as one of the biggest traps in the crypto market, which can lead to poor decision-making by investors.

How many 20%+ corrections has the Bitcoin market experienced in the cycle mentioned in the script?

The Bitcoin market has experienced the 6th 20%+ correction in the cycle mentioned in the script.

What was the speaker's strategy during the recent market correction?

The speaker's strategy during the recent market correction was to make significant buys, considering it a top opportunity to enter the market when others were panicking and the sentiment was extremely bearish.

What is the significance of the GCR level in the altcoin market?

The GCR level is significant in the altcoin market as it represents a cultural support level where the market has historically defended and recovered after sell-offs, becoming a key point of interest for investors.

What role did the Mount Gox selling rumors play in the market according to the script?

According to the script, the Mount Gox selling rumors played a role in triggering force selling and panic in the market, which the speaker suggests might be used by insiders or as a manipulative tactic to create local bottoms in the market.

What is the speaker's opinion on the current macro trend of the cryptocurrency market?

The speaker believes that the current macro trend is bullish and that investors should increase their interest in the market as prices drop, acting inversely to the market sentiment.

What is the importance of the 64k level for Bitcoin according to the script?

The 64k level for Bitcoin is important as it represents a significant resistance level that, if reclaimed, could signal a trend continuation and a potential reversal in the market.

What does the speaker suggest about the relationship between Bitcoin dominance and altcoin performance?

The speaker suggests that altcoins leading the market down could be a sign of weakness for Bitcoin, and that if altcoins hold up better during a Bitcoin sell-off, it could indicate a potential shift in the market dynamics favoring altcoins in the next rally.

What is the speaker's view on the potential timing of the cycle top?

The speaker's view is that the cycle top might occur later than initially expected, possibly in Q1 to Q2 2025, due to the bearish price action resetting the market and buying more time for the next leg of the bull run.

What advice does the speaker give for positioning in altcoins during the current market conditions?

The speaker advises to focus on altcoins that are showing relative strength, are in structural uptrends against Bitcoin, or have strong narratives and catalysts, while also considering major support levels for potential entry points.

Outlines

00:00

📉 Crypto Market Analysis and Panic Response

The speaker discusses a significant correction in the crypto market, particularly in Bitcoin, which has caused widespread panic among investors. They highlight the sharp and severe nature of the correction and the resulting divided opinions on social media platforms like Twitter. The speaker aims to provide clarity, sharing their perspective on market conditions, anticipating future trends, and advising on strategic positioning to take advantage of the situation. They also plan to analyze data from recent days to inform viewers on potential actions.

05:01

📈 Market Recovery and Strategic Buying Opportunities

The speaker reflects on their own actions during the market downturn, identifying it as one of their top three buying days of the year. They discuss the concept of buying during major capitulation events, which they view as offering the best risk-reward entry points. The speaker also touches on the psychological aspect of trading, emphasizing the importance of acting contrary to market fear. They mention various cryptocurrencies, including Bitcoin, Ethereum, and altcoins, and provide a technical analysis of their price movements, suggesting that the market may be nearing a local bottom.

10:03

💡 Navigating Market Sentiment and Positioning Strategies

The speaker provides insights into market sentiment and positioning strategies during a macro uptrend. They advise increasing interest in the market as prices drop, contrary to popular panic reactions. The speaker discusses the importance of capitalizing on major dips and the wisdom of selling during major pumps to replenish investment capital. They also share their thoughts on the recent market rebound, analyzing various cryptocurrencies' price actions and suggesting that the market's next move will likely be influenced by Bitcoin's performance.

15:04

🔮 Long-Term Market Outlook and Cycle Analysis

The speaker shifts focus to a more macro perspective, discussing the historical performance of the crypto market during summer months and suggesting that the current bearish sentiment may be a setup for a stronger bull run later in the year. They propose that the market has been given more time due to recent price action and that the cycle top might occur later than initially anticipated. The speaker also highlights various macro tailwinds such as regulatory shifts and political developments that could positively impact the crypto market.

20:05

🚀 Identifying Altcoins with Strong Potential

The speaker offers advice on identifying altcoins with strong potential, suggesting looking at those that are in structural uptrends against Bitcoin. They mention several altcoins that have shown relative strength and are bouncing off major support levels. The speaker also discusses the importance of having a strong narrative for altcoins, such as rebranding or new network launches, and how these factors can contribute to an altcoin's performance in the market.

25:06

🛑 Avoiding Traps and Capitalizing on Market Opportunities

In the concluding remarks, the speaker urges viewers to avoid getting trapped by the market's current sentiment and to use this time to research and identify quality altcoins for potential investment. They emphasize the importance of developing a watch list and focusing on macro cycle positioning. The speaker also plans to share more insights into their own shopping list of coins in future videos, highlighting the need to capitalize on bearish sentiment during macro uptrends.

Keywords

💡Crypto Market

The 'Crypto Market' refers to the decentralized digital marketplace for trading cryptocurrencies like Bitcoin and Ethereum. It is characterized by high volatility and is influenced by various factors such as market sentiment, regulatory news, and technological advancements. In the video, the speaker discusses the recent sharp correction in the crypto market, indicating a significant drop in prices that has caused panic among investors.

💡Bitcoin Corrections

A 'Bitcoin Correction' is a term used to describe a decline in the price of Bitcoin following a period of increase. Corrections are a normal part of market cycles and can be seen as a healthy market adjustment. The script mentions the '6th 20 plus% correction this cycle,' highlighting a substantial and rapid decrease in Bitcoin's value, which has triggered widespread concern among market participants.

💡Market Update

A 'Market Update' is a report or analysis that provides current information on market conditions, trends, and potential future developments. In the context of the video, the speaker is offering a market update to help viewers understand the recent turmoil in the crypto market and to provide guidance on how to navigate the situation.

💡Panic

In the financial context, 'panic' refers to a sudden, widespread fear among investors that leads to rapid selling of assets, often causing a significant drop in market prices. The script describes a scenario where a sharp correction in Bitcoin's price has led to panic, particularly on social media platforms like Twitter, where contrasting and divided opinions are prevalent.

💡Altcoin Charts

An 'Altcoin Chart' is a graphical representation of the price movements of alternative cryptocurrencies (altcoins) other than Bitcoin. These charts are used by traders to analyze trends and make investment decisions. The video script mentions going through 'lots of altcoin charts,' indicating the speaker's intention to analyze various cryptocurrencies' performance alongside Bitcoin.

💡Force Selling

'Force Selling' occurs when an investor is compelled to sell their assets, often due to margin calls or other financial pressures, which can lead to a drop in the asset's price. The script discusses force selling as a trigger for market fear, uncertainty, and doubt (FUD), suggesting that the anticipation of such selling can impact prices more than the selling itself.

💡Local Bottom

A 'Local Bottom' in trading refers to the lowest price point of an asset within a specific time frame, which is followed by a price increase. The speaker suggests that the market might be nearing a local bottom, indicating a belief that the recent drop in prices could be followed by a rebound.

💡Macro Trend

A 'Macro Trend' is a long-term trend in the economy or financial markets that reflects broad movements and influences on the market. In the video, the speaker advises viewers to position themselves in line with the current macro trend, suggesting that despite short-term volatility, the overall trend remains bullish.

💡Liquidation Cascade

A 'Liquidation Cascade' happens when a rapid drop in prices triggers the liquidation of leveraged positions, causing further price declines. The script mentions that the speaker made significant buys during such a cascade, viewing it as an opportunity to enter the market at lower prices.

💡Meme Coins

Meme Coins are cryptocurrencies that are created as a joke or for fun, often based on internet memes or trends. Examples include Dogecoin and Shiba Inu. The video script notes that meme coins led the market out of a downturn, suggesting that they played a significant role in the market's recovery.

💡ETH ETF

An 'ETH ETF' refers to an Exchange-Traded Fund that tracks Ethereum or is related to the Ethereum blockchain. The approval and launch of such an ETF can increase the mainstream adoption and investment in Ethereum. The script discusses the anticipation of an ETH ETF and its potential impact on the market, suggesting that it could lead to increased inflows and price appreciation.

💡200 EMA

The '200 EMA' stands for the 200-day Exponential Moving Average, which is a technical indicator used to analyze price trends over a prolonged period. It is considered a key support or resistance level by traders. In the script, the speaker mentions that Bitcoin's price wick down into the 200 EMA, indicating a test of a significant trendline that could influence future price movements.

💡Bitcoin Dominance

Bitcoin Dominance is a measure of Bitcoin's share of the total market capitalization of all cryptocurrencies. An ascending channel in Bitcoin dominance, as mentioned in the script, suggests that Bitcoin is outperforming altcoins and increasing its market share. This is an important indicator for understanding the overall market dynamics and the relative performance of Bitcoin versus other cryptocurrencies.

💡V-Chart

V-Chart is a tool or platform used by traders to analyze the performance of cryptocurrencies, compare different assets, and identify trends. The speaker in the video recommends using V-Chart to monitor the relative strength of altcoins against Bitcoin and to find opportunities for investment during market dips.

💡High Time Frame Support Levels

High Time Frame Support Levels refer to price points on a long-term chart where an asset's price has historically found buying interest and bounced off. The speaker mentions considering investments in altcoins that are at these support levels, suggesting a strategy for long-term investors who are willing to hold through potential short-term losses.

Highlights

The video discusses one of the biggest traps in the crypto market and provides a market update.

Bitcoin experienced its 6th 20%+ correction, causing panic among investors.

The presenter shares his opinion on the current market state and anticipates the next few weeks.

Total altcoin market defended the GCR level, a significant cultural support level in crypto.

Force selling rumors, such as from Mount GA, tend to affect prices more than the actual selling.

The presenter made significant buys during the correction, considering it a top buying opportunity.

Meme coins led the market recovery, showing strong signs of market leadership.

ETH and other strong betas are expected to lead the market in the event of a continued recovery.

The presenter's strategy is to buy heavily during major capitulation events for better risk-reward entries.

Bitcoin's dominance chart shows an ascending channel, indicating a clear uptrend.

Altcoins held up during Bitcoin's drop, suggesting potential altcoin leadership in the next market pump.

The presenter believes the worst of the drawdown may be over, with a potential for a market recovery.

The video discusses the historical poor price action during summer months in crypto markets.

The presenter shares his long-term perspective, considering macro tailwinds and a potential market top in 2025.

The presenter advises on strategies for playing the uptrend with specific altcoins and using V chart for relative strength analysis.

The importance of having patience and mental fortitude when investing in altcoins at high time frame support levels.

The presenter emphasizes the value of focusing on research and developing watch lists during periods of low volatility.

The video concludes with advice to capitalize on bearish sentiment during macro uptrends, historically a successful strategy.

Transcripts

this is one of the biggest traps that I

have seen in the crypto Market in a long

long time and in today's video I'm going

to break down exactly what that is and

give you a very important market update

as you can see in front of you we've

seen one of the biggest Bitcoin

Corrections this cycle over the last

week it's now the 6th 20 plus%

correction this cycle and it was

actually one of the most sharpest and

severe Corrections this cycle in terms

of the amount of days that it took to

draw down 20% and thus obviously it's

caused a lot of panic obviously a lot of

people in the market especially on

Twitter are panicking and my timeline is

full of contrasting and divided opinions

so today I'm here to make sense of it

all give you my opinion on where I think

the current market sits what I am

anticipating over the next few weeks and

also what you can do to position

yourself to make sure that you actually

use this period to your advantage and

don't get trapped so now let's look at

the data and quickly recap what has

happened over the past few days before

we get into what you can do about it so

as I mentioned it was one of the biggest

Bitcoin draw down since the post ETF

sell-off since the bank failure usdc fud

and it was only the second major draw

down I say major which is 20% uh plus

this year similar to the April

correction a lot of old Al coins have

also been hit we're going to go through

lots of altcoin charts in just a few

minutes interestingly though on the

total three charts so that is excluding

Bitcoin any so just altcoins the market

actually did defend the GCR level this

is of course the level where GCR stepped

in and had that famous tweet that he

believes it's a good opportunity to

scale into high conviction tokens it's

almost become a bit of a significant

cultural support level in crypto so

despite deviating low that level

actually ended up holding with total 3

making a recovery after quite a nasty

sell-off last week and look during all

of this fud which was primarily

triggered by Mount GA selling rumors

Germany selling rumors and all of this

you know Force selling stuff that

started to come out on the market I did

this tweet here saying before you start

panicking about mount gox for the

millionth time and the German selling

remember that Force selling fud usually

affects price more than the selling

itself we've seen this time and time

again wouldn't be surprised if we're

nearing a local bottom here and in fact

pretty much every single time we've seen

Mount GA fud on March 6th 2023 on the

22nd of November 2023 or even the 23rd

of January 2024 that is actually been

the local bottom for crypto it's also

always funny that these Mount goau

announcements seem to happen during

times when crypto is losing momentum

like you can see here after the initial

selloff we saw the announcement after a

sell-off we saw announce announcement

and this happened once again two days

ago either one of two things is

happening here one the Insiders know

about the mount Go's repayment

announcement so they're actually selling

off/ shorting into that announcement

which does make sense and then the

market starts to catch on and then price

action you know bleeds out from there or

two someone's just playing a sick game

with us and every single time the market

looks weak they decide to drop the mount

gox news of course there is you know

option three which is that it's all just

a big coincidence but it doesn't seem

like it it just seems to happen like

this news always happens when the market

is bearish and in light of the fact that

malox fud has marked local bottoms time

and time again for crypto and in light

of the fact that we saw extremely

bearish sentiment on my timeline in my

opinion too bearish I actually stepped

in and made some of my biggest buys of

this cycle so far for me this cycle this

was a top three buying day I think the

only other times that I've bought with

size like this was back in January at

the start of this year when we were

breaking key levels on bitcoin breaking

for 4K that was a major clearance level

for me to go long and I also had major

buys on the GCR tweet day I think it was

April 14th this was another day that I

made major buys and Monday was the next

day so two days ago where I also stepped

in when I just thought things were

getting way too bearish so those were my

three biggest buy days of the year

obviously excluding 2022 November and

all the accumulation we did across 2023

and the hundreds of shows I did on Crypt

banter throughout that period so I'm

talking about 2024 here this was one of

my top three days and that is really

because in this market I tend to follow

the strategy of going quite heavy in

terms of size on major capitulation

Wicks of which obviously we've got over

the last few days and we also got on

April 14th these Major Force selling

events these major Panic liquidation

Cascades for me are the best risk reward

entries in the market significantly

better risk reward than you know trying

to catch a knife on slow bleeds look I

do that as as well for fun on some coins

but uh when it comes to Serious size I

usually do reserve it for days like this

and yes it may mean you have to wait for

an opportunity to arrive and yes maybe

that only happens once every few months

but when you do get these periods uh I

think it's wise to capitalize especially

when you were in a macro Trend and

that's why I did that tweet here about

I'm sorry you're way too bearish time to

dust off The Ledger it's looked like I'm

forced to bid and people know that when

I tweet about buying that must mean that

I'm really buying because this is

something that I rarely do I honestly

rarely tweet about my positioning just

cuz you know now I'm a big account a lot

more scrutiny I tend to stay away from

calling the market as much on my Twitter

account at least compared to you know

YouTube and Discord but you know I felt

the need to say something here because

my entire feed was capitulating and I do

find that funny that a lot of people

were kind of asking me you know is it

time to sell should I get out of the

market because I've always thought that

your interest in crypto should actually

scale and move reflexively inverse to

prices especially when there's a clear

macro Trend like we're in right now not

the other way around so what I mean by

this is when prices are going up

significantly in a macro Trend and the

market is looking really bullish you

should actually become less interested

in the market from a positioning

perspective and maybe you can maintain

more interest from a trading perspective

whereas if you're in a macro bull Trend

like we are now and you've seen prices

significantly drop and fear start to set

into the market as long as that broader

Trend remains intact your interest

should actually exponentially increase

as price goes lower so you should act

reflexively opposite to the market if

that makes sense and if you do this

you're going to be able to catch these

liquidation Cascade scary days where it

feels you know wrong to buy but your

system will kick in and actually trigger

uh those buyers on days like what we got

a couple days ago and last week these

are in my opinion opportunities in the

market as long as a trend maintains

buying into major dips during a macro

uptrend is typically smart selling into

major pumps in an uptrend is also smart

because you need to replenish the

capital if I took no profits throughout

March April May start of June then right

now I wouldn't have any dry powder to

actually be able to make the buys that I

did so that is always something to keep

in mind and since this tweet of course

the market has rebounded quite strongly

in fact I did end up calling the bottom

with this tweet I tweeted in the very

early hours of the morning here when

Bitcoin was deviating below my must hold

level so this was real capitulation in

the market Market of course it hadn't

closed below this level but we saw a

week below and this is where I did

decide to step in you can also check the

time stamp of those tweets that I made

so it was good timing in the market uh

obviously to catch that in my Discord I

said that Mal Ox fears were the latest

trigger for the dip however Force

selling events tend to mark local

bottoms I'd feel stupid not to bid

timeline insanely bearish selling fud

Perfect Storm it's late 1:00 a.m. Just

Whipped Out The Ledger to make some buys

before I go to sleep Pepe e soul with

lading into a BTC leverage long let's

see what happens and of course since

then we have seen the Bitcoin bounce we

have seen the Pepe bounce we have seen

the with bounce we have seen the eth

bounce as well and we've also seen the

salana bounce so everything's pretty

much bounced I guess the question right

now that you're probably asking is is

this rally going to sustain is it too

late to buy should I be waiting for

lower prices is this a confirmed

reversal that is all stuff that I'm

going to get into in today's video

because I believe it's extremely

important firstly I just want to go

through each of these charts that I

actually highlighted in the Discord just

look where they're sitting from a

technical perspective then I'll give you

my opinion on how I would play the

market now that we have had this bounce

and this strong reaction off that

support level Pepe looks great it

bounced really nicely off the 1088 level

uh it it actually rallied and managed to

flip this key daily level as well that

Wick is actually a really bullish Wick

so strong sign from Pepe in fact the

meme coins actually led the market out

of the balance another strong sign that

Meme coins once again are the market

leaders something that I discussed on my

last show as well highlighting Pepe and

that was obviously one that bounced

really strongly one that I mentioned in

the Discord Etc so this for me remains

one of the Premier eth betas I'd love to

see on the daily another close Above

This level then you can start to work

your way out of this bottoming range and

start to push back up towards previous

alltime highs I don't know if the market

has the juice that's needed to repel

this all the way there so we're just

going to see how it reacts around this

level uh closed out some of my tradee

keeping obviously my major spot position

open from this support entry because

that has not been invalidated yet moving

on to whiff this one is really

interesting because you have range low

at the 225 level but then you have this

other major support at the 190 level

both regions broke through this dotted

line here is the previous daily Wick

lows that we saw in April

and also in March and also on June 18th

before it ended up smashing through this

is now looking like a potential

deviation below there was a liquidation

Cascade lots of fud on whiff and since

then the price has actually pushed quite

nicely to the upside roughly 38% in fact

and that's corresponding also at the

time when I made this Discord post it

was pretty much bottoming out and since

then we've seen that 38% reaction to the

upside it's now looking like it wants to

close Above This level and that's going

to be very important if whiff wants to

go and test range low if you are playing

whiff you've kind of got a couple

options cuz look this is a coin that I'm

very bullish on from a macro cycle

perspective I talked about this a couple

days ago and I gave you guys two options

one you can try and catch a knife as

price goes down you can ladder in and

try and get a better entry and basically

lower your cost basis but you have to

have mental fortitude to execute a

strategy like that because not

everyone's going to be able to stay

steadfast and keep pouring liquidity

into something that's going down I

completely understand that so option two

is actually in my opinion not to wait

for a Reclamation of just this level but

wait for a confirmed Reclamation of the

official range low which is at the 225

level so let's say it comes up retests

and then does something like this then

that could be price action that's

encouraging to get in on the major dips

maybe an entry here and then your bigger

size coming on the break SL retest of

this support level on The Daily so

that's something I'm watching for with

kind of two strategies in the market one

requires you to have a lot more mental

fortitude and a longer time horiz and

the other one is more of a trend based

trade giving both options because I know

everyone in this market tends to trade a

little bit differently and you can do

both by the way you can kind of Ladder

into long-term spot and then what you

can also do is wait to go in with maybe

a leverage position or additional spot

size as price starts to break and hold

key levels the other coin I want to

highlight here actually two more coins

uh first one's ethereum it's still in an

uptrend still looks good to me this was

actually a beautiful Wick here because

it's reclaimed perfectly on The Daily so

eth is actually showing a pretty nice

setup for a long here I still think this

is the play If The Market continues its

recovery to the upside eth I do think

continues to lead and then the strong

betas like we've discussed you know

you've got Pepe Lio Etc I think these

are all candidates to lead the market

considering also we have the eth ETF on

the horizon we saw recently SEC chair

gendler highlighting that things are

going smoothly it's really up to the

asset managers to make the proper

disclosures so just himang going

smoothly in my opinion is a good sign

obviously it's going to be all eyes on

the inflows I've kind of talked about

how I think inflows are going to

potentially disappoint in recent times

however guys like Kang have really

started to propel this Narrative of the

eth ETF inflows being so weak that you

know all the attention's going to shift

away from eth and eth's going to crash

and it's going to be sell the news event

and although we do sometimes see buy the

rumor sell the news events in crypto I

think this argument is a little bit

flawed because one expectations are in

the gutter for eth ETF inflows at least

you know across Twitter so if

expectations really are that low then I

don't think it's going to affect prices

if they are indeed bad and of course

that opens up the door for if inflows

perform well and surprise people prices

could actually respond quite positively

and two from a macro point of view a

selloff in my opinion would actually be

a good opport opportunity because we

know over the longer term the inflows

are going to add up and at least provide

ethereum with some sort of passive bid

that it didn't previously have so from a

long-term perspective um you know

bullish eth in terms of the ETF also

bullish on it in terms of relative

strength in the short term looking at

Soul which is I guess you know the eth

competitor in the market it's kind of

jux opposing eth in terms of sentiment

on Twitter you have the two caps your

your eth Maxis your soul Maxis there's a

lot of soul Maxis is cycle and obviously

that's for good reason given the price

action of Soul um interestingly Soul

also bounced off a major level this was

the previous high from December 25th

Soul trades so cleanly by the way in

terms of ta it is still giving you

higher lows on these Wicks you can see

here continuing the pattern of its

uptrend this Wick is just the next

higher low that took us down to two

major support levels one the previous

high as I pointed out and two this 200

Ma on The Daily which is a very key

level for most altcoins salana as well I

mean if you do look at the 200 ma it's a

level that so rejected off twice right

came back down formed a range during FTX

broke out of and ever since then it's

acted as pretty much your bull market

support band I do find that the 200 Ma

on The Daily acts as a very nice macro

level to kind of track General uptrends

and downtrends and the fact that it

bounced off this level does make it

significant and in my opinion uh it was

a decent level to add some soul and that

is why I did end up tweeting that I was

lading into a soul position here on

Discord and I o did a video a couple

days ago where I did highlight Soul as

one of my favorite bull market players I

think it's here that I pointed it out I

also pointed out this support level um

as well which we ended up testing and

since then it's made a decent bounce of

12% but hasn't shown relative strength

compared to the memes Etc I don't know

if Soul necessarily in the short short

term will be the strongest performer I

think there are coins namely meme coins

eth Bas rwa coins that are probably

going to bounce stronger so if you're a

strength Trader and you're looking to

the market those are probably the coins

I would go for but then again you know

salana from a more macro bull market

perspective is one of those plays that

is hard to ignore so it's one that I'll

continue to add on major support levels

of course it's not just this that's a

support level you actually do have the

horizontal support at 88 that would

probably mean the entire crypto Market

has corrected significantly so we'll

need to play those levels as they come

it's not really something I'm at Liberty

to speak about now nor I'm really buying

into at least in the short term given

the signs that we have So speaking of

those signs what is next for the market

do I believe we're going to see

continuation here if you didn't manage

to buy during the liquidation Cascade

should you be lading in now let's talk

about where we sit I think the best

place to start is looking at total three

interestingly we actually Wicked down

into this major support on the total 3

weekly chart if you look at the daily

chart this also becomes apparent we've

had three now retests of this level so

definitely the the more times you test a

level the higher chance it has a

breaking but until proven otherwise that

level is intact and this is really the

time where you'd want to see a bounce

from Total 3 if you go to the weekly it

does become apparent what you want to

see is this impulse upwards to this

mid-range here at the 640 level that is

a mid-range level that I think is of

significance given the fact that 3 weeks

actually Wicked down into this pocket if

you do start to falter like this and

start to eat up this liquidity gap down

down here then the odds of this support

breaking significantly increase cuz now

you're looking at a fifth a sixth retest

of that level so of course until proven

otherwise that support is a level I love

to bid and that's why I did bid a couple

days ago but you really do want to see

some strength here from the altcoin

index to help us work out of this mess

and obviously we have seen this over the

past 24 hours but a lot of this bid is

being led by the memes an interesting

point I want to make here relating to

altcoins is the Bitcoin dominance so

this is the ascending channel that

Bitcoin dominance has found itself in

you have the highs of the channel here

you have the lows of the channel here

very clear uptrend for Bitcoin dominance

this is a chart that I want you to keep

your eyes on over the next couple of

months interestingly during the major

Bitcoin week down to 587 on Monday

altcoins actually went up as you can see

dominance actually dropped and reject Ed

off this level altcoins bled most of

their gains the week prior on this

dominance Wick to the upside so what I

find quite interesting and I think it is

actually indicative of altcoins maybe

leading Bitcoin um on the next pump is

the fact that alt sold off before

Bitcoin so they led the market Bitcoin

followed altcoin so it caught up to the

alts and ended up dropping this is

typically a sign of weakness from an

asset so I do want to keep my eye on how

this dominance Trend ends up playing out

you know does dominance drop and you

start to look at a breakdown here which

would be amazing for altcoins and

probably signal a broader Market rally

ortis dominants simply keep within this

trend and keep grinding up and up and up

as alts bleed this is pretty much

summing up the entire market for you

over the past uh year pretty much with

Bitcoin leading most of the alt coins

it's very apparent when you look at

Bitcoin dominance so I would just keep

that in mind but very interesting as a

takeaway that alts actually held up on

Monday it shows that there was a lot of

capital that actually came in to defend

those levels on altcoins a lot of liquid

funds big players Wales Etc when it came

time to defend the market they defended

the alts because that is where you get

the highest upside on the bounce and

alts relative to bitcoin were actually

oversold so that's why you see Bitcoin

catching up to alts and alts actually

responding quite nicely so now let's

look at the Bitcoin price action cuz I

think the next move for the market is

really going to lie um in the Bitcoin

chart as as well as the total 3 chart of

course but everyone all the TA analysts

Etc out there pretty much charting BTC

so I think when it comes to us

positioning ourselves for the next few

weeks looking at BTC as the way to go

now on the daily chart you can see here

just to summarize what happened we

Wicked down into this 200 EMA that ended

up being that buy Zone before the market

rebounded quite strongly previous week

of course we had below this level was in

April so so far this is a higher low for

Bitcoin even on the liquidation Cascade

and you still are holding this must hold

level at the 60k zone for Bitcoin so all

looks good from that perspective however

what you want to see is continuation and

actually what we really need from a

bullish Bitcoin perspective right if you

want to take that bias into this

discussion is a flip of this

64k level this is a very major region

for Bitcoin it was a level that we broke

down from before testing range low it's

the level that we broke through to make

the previous Bitcoin High and a level of

significant interest for the market it's

actually if you go on to the lower time

frames around

64.5k that is a level you really want to

reclaim for Bitcoin otherwise what could

end up happening is Bitcoin will bleed

this reversal and come back down and

then you're testing for the second time

this level and then the 200 EMA really

has to fight to hold strength if the

market keeps exhibiting bearish momentum

so what you want to be looking for over

the next few few days is how Bitcoin

reacts because if it starts to give up

some of this reversal candle that is a

pretty weak sign and odds ey we are

going to come back down again conversely

if the market continues to exhibit

bullish sentiment push us up towards

this 64k level there's a genuine case

here for a trend continuation SL a

confirmed reversal now you might be

thinking miles that means nothing you're

basically saying if it goes up it goes

up and if it goes down it goes down so

what's the alpha well the alpha in

positioning is this for me the best time

to buy was during this week if you miss

those buys there is no harm in waiting

for those two eventualities to occur

first eventuality Bitcoin starts making

its way to the upside like this and you

can actually buy in on these dips as it

starts to form a new uptrend this is

called a trend reversal getting into the

pullbacks on the trend reversal would I

think be the best way to enter the

market because you're waiting for the

market to signal to you what the trend

is right now on the lower time frames we

don't know what the trend is in fact the

trend is down with a reversal so pretty

much every time frame looks bearish

under the weekly apart from like the 30

minute chart right so you can wait for a

reversal and actually get in on these

pullbacks that's a very safe way to play

it especially on this 64k region which

if this flips then there's a genuine

case that all of that was just a major

fake out trap conversely if the market

starts to break down you're probably

waiting for that next capitulation Weck

to take Bitcoin down to step in when the

Market's oversold and get those

capitulation Buys so those are really

the two scenarios where I would go in

with size either on a major capitulation

Weck like we got so if the market starts

to break down you may get another one

that is a potential scenario where I'm

interested in buying or after a

confirmed reversal and that'll likely

take 4 to 5 days to play out so now's

actually a time where you should really

be monitoring the market because there

is a lot that is likely to change in

terms of market dynamics over the next

week or so so I would definitely be

keeping my eye on bitcoin on altcoins

the next couple of weeks I think it's an

important period for the market in terms

of determining directionality now the

most important thing here from a macro

perspective so that's a little bit

shorter term now I want to talk a bit

more macro in terms of the cycle and

I've got some opinions also on where we

currently sit in the cycle I want you to

not get trapped now what do I mean by

this summer price

action historically is quite poor so in

2017 we saw ults getting crushed versus

Bitcoin in 2019

we saw the 13k top and a massive

correction in 2020 we had defi summer

because everyone was riskof majors and

everything sucked so everyone kind of

moved to farming in 2021 there was

bearish chop until July and that

obviously resulted in that bottom before

the subsequent all-time highs in 2022

obviously price was absolutely rubbish

during the summer months and 2023 we

also chopped around 28k so I don't want

you to get

trapped during these summer months where

it should be expected that price action

is always going to be a little bit

choppy SL bearish now obviously June has

been a bad month for crypto in past July

we've actually seen the market recover

after negative Junes you can see it in

2013 negative June bullish July 2018

negative June bullish July 2020 negative

June bullish July in fact every single

time bitcoin's had a bullish June it's

actually had a bullish July so that

major draw down for Bitcoin and altcoins

that may have been the worst draw down

that we'll see in the coming weeks I do

believe balance of probabilities the

worst is over from a draw down

perspective in terms of price obviously

what could set in now is time

capitulation where people get shaken out

of the market due to this you know

summer L and low volatility ruining

their interest I don't want you to get

trapped into this because the market is

really doing its best to shake you out

in my opinion before the main event

actually previously I thought the cycle

top was going to happen in po Q4 this

year now due to recent price action I'm

thinking q1 to Q2 2025 maybe even later

is more realistic just due to the fact

that the bearish price action has

actually bought us time it's reset a lot

of the leverage in the market and things

were looking overheated in March now

we've seen a reset that I think gives

the market enough of a natural break to

be able to exhibit the next leg of the

Bull Run later in the year and that's

probably going to take us into 2025 now

whereas before you know was looking like

maybe the market could be really really

left leaning so it's actually bought you

time which is a bullish thing because

you know it's rare to actually get time

in crypto so I believe that's exactly

what the market has given us I also want

to give you my long-term perspective

look there are obviously a lot of people

bear posting now like you know K talking

about gaw German coins Nvidia topping

the thing is you have to

remember that we have a very strong bull

case from a macro point of view in front

of us we have the election in November

we have the biggest shift in the

regulatory stats that I have seen

towards crypto ever with the upcoming

election we've seen the eth ETF now

getting approved equities I do believe

at some point given the fact that

they've rallied hard will Rec correlate

with crypto and that's likely going to

result in crypto either going up or

equities pulling back in crypto

remaining

stable and also the market is completely

or was completely oversold and the

sentiment was Max bearish typically that

is a Buy Signal for the market so I made

this point here in response to Kang that

you can list any number of headwinds or

Tailwinds to fit a bias and simply

listing a few things mogs German coins

and video topping like it's it all

sounds great it makes a compelling case

but in reality you know zoom out and

realize we actually have a lot of

bullish macro Tailwinds as well in the

last two months alone we've got the eth

ETF approval S1 amendments and approvals

for the eth ETF Trump campaign talking

about crypto Biden ad been changing

their tune towards crypto consensus

lawsuit being withdrawn SEC giving a

verbal notice of the withdrawal fit 21

passing strong bipartisan support we

have also seen eth called a commodity

like huge huge huge structural macro

changes in the market some really

important changes in the market um a

paradigm shift really in the way crypto

is being you know viewed or at least you

know talked about from a political

perspective so to be bearish into that

during a macro uptrend in my opinion is

foolish these shakeouts these periods of

low volatility obviously we had you know

volatility before but if we do head into

a period of low volatility these are

periods that are really intended to

shake you out and are going to make you

do your best to sell your coins and

inevitably end up buying back in after

the uptrend resumes in terms of playing

the uptrend with you know specific alts

I've talked about a few already in

today's video but one tip uh I want to

give you is to look at the Bitcoin pairs

for altcoins your goal here is to beat

Bitcoin bitcoin's led the market so far

this cycle there are coins however that

are in structural up Trends versus

Bitcoin you've got Ono Pendle B&B Pepe

earlier in the cycle you had salana

whiff I know a lot of other meme coins

now are starting to exhibit you know

strong uptrends on their BTC pairs so

the charts that Victor's using here are

against other altcoins so the others

index so you can actually combine the

Bitcoin charts with the others index to

look at coins that are making new highs

because you want to be in the strong

coins in the market that that's you know

generally speaking where you'll be

better positioned heading into Q3 Q4

another way that you can look at this

across multiple time frames whether

you're trying to catch a bounce on the

lower time frame or position yourself

from a macro point of view as V they

have the midcap index small cap index

large cap index you can even favorite

altcoins to compare them against each

other to look at their performance in

the market and you can also filter by

top gainers and top losers this is a

tool that I'm regularly using in my

trading uh especially right last week

when we got those altcoin dips in order

to know what altsa was going to get into

on

Monday I looked at the V chart and I saw

what did respond the strongest over the

last week and there are a few Trends in

there which you know led me to position

myself in certain coins like you know Li

for example a lot of the eth betas Pepe

Etc so keep your eye on V I do believe

it's a great website for that that's

from a relative strength point of view

the other option is to take a look at

bidding some of the major High time

frames support levels on Alti bullish on

now this strategy I've got to just say

this quickly is probably reserved for

those with slightly more mental

fortitude if you're not willing to be

underwater on a position for potentially

months if you're not willing to hold a

position whilst you see other coins

outperforming it then this strategy is

probably not for you but if you do have

patience and you are willing to bite the

bullet and invest in quality alts there

are some coins that are at high time

frame support levels you can look at

adding to your spot portfolio that that

have recently retested those levels now

as I said before the primary strategy in

the market is following strength and

that's something that I do actively but

I also know that there's a cohort of you

out there that likes to position on

major levels for slight a slightly

longer term bias and for that reason

I'll give you a couple of old coins that

are looking good you've got beam that's

bouncing off its major daily support

level look you also have clear inv

validations on these if it ends up going

against you just make sure you have your

thesis written down if you're buying any

of these coins you have Phantom also at

a major support level it's the high from

December you've obviously got Phantom

Sonic coming later in the year so there

are bullish Catalyst on the Phantom side

you have link which has bounced nicely

multiple times of this daily level also

at a major High time frame support and

then you have another category of

altcoins which they broke down below

their support but if there is a Bitcoin

reversal a sustained reversal in the

market which was the first scenario that

I pointed out obviously there's scenario

b as well but if Bitcoin does reverse

and on major pullbacks does give you

opportunities to enter alts looking for

altcoins that have flipped previous

support into resistance back into

support So something like this on link

let's say it breaks down and then comes

back up at retests this can also be a

decent level to get a confirmed entry on

a trend one of the coins that I'm

looking at right now that is exhibiting

that price action at least in the early

stages is Ator which is starting to now

break above its major daily support at

the 1 150 level this is in light of the

major Rebrand which they just underwent

which rebrands aour to anyone which I

think was an amazing strategic decision

because they are working to become a

large scale private dpin Network and

they're also partnering with lots of AI

deep in compute projects Etc so it makes

sense to Brand to something a little bit

broader like anyone versus Ator which

obviously you know eludes to the onion

router privacy uh narrative that really

underpinned their growth from the early

days but I think now as the network

continues to grow that's a smart

decision and you have seen a nice

reaction there so coins with strong

narratives for example a Rebrand

narrative a new network launch Etc that

are flipping previous support into

resistance back into

support these are the ones that I also

like on the uptrend to position in as I

just discussed you know the Bitcoin

scenario before and there are more which

I'll discuss later in the week on these

shows as the trend starts to establish

itself um you know I'm wary of making

definite calls based on price action

right now which is still trying to

determine itself in terms of

directionality so I hope today's video

helps you just contextualize where we

currently sit the things I'm looking for

and also my views on the cycle I think

everyone needs to chill out a little bit

I saw a lot of craziness bearishness on

Twitter usually that bearishness is a

Buy Signal in the market in my opinion

and this is actually a really nice time

where there is slightly less of a

bullish bias to you know dig deep

research

focus on getting amazing entries on alts

develop your watch lists flesh them out

I'm going to be doing a video soon on on

my shopping list give you more of an

insight into some of the coins that make

my list as I'm continuing to research

and discover new coins that is really

what you should be doing in this market

kind of wipe away the noise Focus purely

on I think for a lot of you macro cycle

positioning and I think you'll come out

the other side significantly better off

for it these dips are major

opportunities to capitalize on bearish

sentiment and I think all you need to do

is look at the historical data to look

at what has happened historically for

those that have capitalized on extremely

bearish sentiment during macro up Trends

I'm going to see you in the next video

hope you have a lovely rest of your day

peace out