🚨 BTC & ETH: ADD TO LONG HERE??? OR FLIP SHORT???

Summary

In this video, the trader discusses a challenging market situation where profits have dropped to $100,000. Despite market dips influenced by the FOMC and CPI, they remain optimistic, highlighting the potential of Bitcoin and an upcoming Ethereum ETF launch. They emphasize the importance of long-term trading and seize the opportunity to add to their long position, considering any current correction as a chance for wealth creation. The video also promotes a 42% discount on trading fees for new Bit account sign-ups.

Takeaways

• 📉 The speaker's profit has dropped to $100,000 and they plan to share their trading strategy by the end of the video.
• 💼 The speaker mentions market dumps due to the Federal Open Market Committee (FOMC) meeting and the release of CPI data, affecting ETFs.
• 🔗 They promote a link for Bybit, offering a 42% discount on trading fees for new accounts with deposits over $100,000.
• 📈 The core CPI has decreased, which is seen as positive, and the FOMC has maintained the interest rate with only one cut projected for the year.
• 📊 Bitcoin's price initially spiked due to better-than-expected CPI news but later dropped due to FOMC outcomes and concerns about high rates.
• 🏦 The world's largest bank, ICBC, recognizes Bitcoin as a solution to gold's issues with divisibility and portability.
• 📅 The speaker anticipates the launch of an Ethereum ETF, which could significantly impact Ethereum's price due to its smaller market size compared to Bitcoin.
• 📉 The speaker is considering going short on their trade but emphasizes the importance of staying informed about the ETF launch.
• 📊 The speaker provides a technical analysis of Bitcoin's chart, mentioning a potential drop to $65,000 and a main support level at $57,000.
• 🤔 They discuss the possibility of a further drop in the market but view any correction as a 'generational wealth creation opportunity'.
• 💰 The speaker has added to their long trade on Ethereum, seeing the current situation as a chance to build their position further.

Q & A

What is the current profit mentioned in the video script?

The current profit mentioned in the video script is $100,000.

What is the significance of the FOMC meeting and CPI in the context of the script?

The FOMC meeting and CPI are significant because they influenced market movements, causing some ETFs to be dumped ahead of these events, which in turn affected the speaker's trading decisions.

What is the 'Shield' mentioned in the context of trading on Bybit?

The 'Shield' refers to a discount on trading fees offered by Bybit. If a user deposits more than $100,000, they can get a 42% discount on trading fees using the speaker's referral link.

What is the potential impact of the ICBC's recognition of Bitcoin on the market?

The recognition of Bitcoin by ICBC, the world's largest bank, could potentially boost Bitcoin's value and market perception, as it suggests that Bitcoin solves some of the problems associated with gold, such as divisibility and portability.

What is the upcoming event that the speaker is anticipating in relation to Ethereum?

The speaker is anticipating the launch of an Ethereum ETF, which is expected to increase demand and potentially the price of Ethereum.

What is the current stance of the Federal Reserve (Fed) as per the speaker's interpretation of the FOMC meeting?

According to the speaker, the Fed maintained a hawkish stance by keeping interest rates steady and projecting just one cut this year, which is business as usual and nothing new.

What is the speaker's strategy regarding their Ethereum trade in light of the current market conditions?

The speaker has added to their long trade on Ethereum, considering the current market conditions, the upcoming ETF launch, and the recognition of Bitcoin by ICBC, viewing any correction as a wealth creation opportunity.

What is the speaker's view on the potential downside of their Ethereum trade?

The speaker believes that the downside is limited, suggesting that the risk is manageable and that the potential for upward movement is significant.

What is the significance of the 'Event Horizon' mentioned in the script?

The 'Event Horizon' seems to be a significant upcoming event or product release that the speaker is promoting, encouraging viewers to stay tuned for details on Twitter.

What is the speaker's final message to the viewers?

The speaker's final message is to stay smart, stay rich, and take advantage of the 42% discount on trading commissions on Bybit using their referral link.