Crypto Trading

E601 Bitcoin & Crypto – Support or Resistance?

E601 Bitcoin & Crypto – Support or Resistance?

E601  Bitcoin & Crypto – Support or Resistance?

Crypto Technical Analysts know and understand Rule 4 – Price Moves in Waves. Where is the market going now and why? We’ll cover the probabilities and do our detective work on the market.

BORSOG is a powerful rule and allows professionals can make money in any market – Bull (prices up), Bear (prices down), or consolidation (price ranging). Retail traders and investors typically can only make money in Bull markets. Knowing the hidden rules is the difference between professionals (smart money) and retail. Making percentages work for you is critical in being a professional investor/trader (and all investors become traders anytime they buy or sell – so knowing how to do it is important).

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Data sources:
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Useful links:
👉 Fear & Greed Index: https://bit.ly/3pnfkYM
👉Total Liquidations: https://bit.ly/3wXozBB
👉 Derivatives: https://www.coingecko.com/en/exchanges/binance_futures

Medium articles:
👉 Why Bitcoin is misunderstood https://bit.ly/30Qui1Q

Crypto is volatile,
please prepare yourself for the best and worst-case scenarios –
reality will likely be between them.

Stay safe out there.
Take care and see you next time
Bye for now

Disclaimer: Any information shared in this video is for educational purposes and is not to be considered as financial, trading, or investment advice. You must do your own research before making any decisions.

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13 Comments

  1. Siacoin is prone to spike and has considerable support beneath price! Price is likely to back away upon meeting a resistance level.

  2. Hi r- thank you for the video. Higher weekend volume means more interest in BTC. BTC at 22.7K at my time frame heading back to 21.5K in the next 24 hrs. Thank you for pointing out the invers VIX breakout and the strength in ETH- Very enlightening. I also value that you are drumming into to us to DYOR. ETH has strength as it is above BTC and is not retracing to the same degree as BTC. I got a nice ADA fill now waiting on my DOT one too. I like Siacoin for its strength.

  3. The weekend for crypto reminds me of a teenage house party. It revels in independence over the weekend, but then everything has to get cleaned up and put away before the parents get home.
    That being said, the CME trend looks like it was poised to rise when the market closed. I think BTC will drop through the day to about the last CME price, until the CME opens, then we may see a rally.

  4. Hi Everyone, I think Ken answered the question of which Alt was strongest but i'll say Siacoin as its at resistance, stronger than BTC currently and spikey. Flux is also very interesting as its gone up when BTC went down and has very little between current price and next resistance level. Both have strong 20%+ potential in their next move if up and strong support close beneath. Risk reward looks good.

  5. Great lesson Ken 👍. I think BTC to 23500k. The good news about liquidations is that when many longs gets taken out, price tends to go up afterwards. I like STEEM. I think if it gets over resistance, It will party. Edwin had a really good comment yesterday💎. Thanks Ken and Kate 🙏. Cheers KS family 👋🦅. Happy Sunday everyone 😃🌄

  6. If I wanted to place a trade in the file sharing sector AR would look pretty good to me! Well supported, in an uptrend and space to break out.

  7. Hi Ken and congratulations for your 600th episode!!
    I will take FLUX because it breaks resistance and it looks nice from the TA side
    Have a nice weekend my friend!!

  8. Hi KS² and Fam,

    I hope ya’ll still having a good weekend!

    Options market – As of today, the options marked has adjusted to become more bearish to reflect BTC price action, I think it could do some more adjusting depending how BTC Interacts with upcoming resistance line. I think once the main market opens Monday, things could get pretty interesting.

    Total Liquidations – More liquidations on the weekends could suggest that more people are getting back onto the dance floor (into the markets), which could suggest more positive momentum is on the way and expected as fear is slowly leaving the market.

    BTC Price – I think BTC will try to go back up to the broken support line and see if it can test it as resistance to see how strong the sellers are at that level.

    Ethereum strength: Looking at BTC fingerprint compared to ETH:

    – ETH price action was far more exaggerated on the upside

    – Less movement to the down side

    – BTC price action came all the way back to a previous high for support, where as ETH has left the building through the skylight.

    Fileshare – Since I have already been trading Siacoin and have my chart marled up, i would put my coffee trade here at support, just out of convenience. I do however find Flux strength interesting…

  9. Hi everyone! There is a CME-gap this weekend till BTC-price 22640.So I expect the price to come back to that price somewhere around Monday. Then: I expect a hesitation in the price till the new interest-rates in the US are decided later this week.

  10. ETH has more strength than bitcoin for a few reasons. ETH is above BTC's waterline and there is a divergence between BTC and ETH price action. BTC sold off recently and ETH put in a higher low.

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