BigCheds: Using technical analysis and sentiment

My feet is kind of like flock of sheep It will surprise you to the upside but I Think it's easy to fall into the Trap And admitting like you failed okay that People now are really giving up and now It almost feels like Bitcoin really is Dead I mean who knows let's smoke a Cigar and have a bottle of wine and we Can talk about it welcome to coin Telegraph's crypto trading Secrets Podcast Hey everyone your host BJ pyus here this Episode's guest goes by the name Bigcheds on Twitter Chads is a Trader With a notable audience of more than 300,000 followers on Twitter he's Written three books one of which is Called trading wisdom he's an analyst For the Bitcoin live educational Platform he's taken the CMT level one Technical analysis class and he's also a Cancer survivor okay here's Chads thanks For taking the time to jump on an Interview oh thank you appreciate uh the Invitation awesome so each episode of The show typically has three segments The first is finding the bottom where I Ask guests what they think about Bitcoin's price bitcoin's price traded Above 29,000 in March notably higher Than its price action in the mid to Upper $166,000 range back in January of 2023 according to coin telegraph's Bitcoin price index chart so from a

Macro long longer term view what's your Opinion on bitcoin's price taking into Account the last few months and the Months ahead well I mean if you're going To do a big picture and you think about Multi-timeframe analysis um with TA or Trend analysis and Trend analysis is Really um looking at a historical set of Price data and trying to to identify the Trend and what you're trying to do is Ideally you're trading with that Trend Right so if it's an uptrend you want to Be longing the dips it's a downtrend you Want to be selling the rips um you know You want to go with the trend and if the Big picture view for Bitcoin is the Weekly chart um the monthly chart and The reason why Western ta which is Classical charting it's been around Since like the turn of the 20th century Charles da primary Trend secondary Trend Essentially you have a 200 period moving Average which is essentially it's a Simple moving average which means each Each of those 200 periods are equally Weighted right versus like an Exponential not to get too technical but The weekly chart has a rising 200 moving Average and the price is above that so It's a confirmed uptrend right and if You look at the history of of Bitcoin You know since its Inception it's Essentially almost always been above That Weekly 200 and we had some dips

Below and really most notably back in The co drop in March 2020 we had that Kind of violent dip below um but going Back as long as you have a 200 is Essentially held it U you know dip below In 15 dip below like I said in 2020 Bounced off of it in 19 and we spent Some time below it recently so the Longer term the secular right the longer Term trend for Bitcoin um had been quite Threatened and it looked really to be Breaking down But then suddenly over the last couple Months really starting back in January We started to recapture lost support Right you always look and pay attention To to momentum turning points and you Know 18K was support for a while we lost It it kind of ranged around 15K 15 16k And bounced back up above 18K was the First kind of signal that the trend was Changing right and that we were going to Potentially we head back towards that 200 and maybe could back up above it um It initially rejected but then we Bounced back up above it here weekending March 13th and now we're consolidating Above a rising 200 moving average which Means it's an uptrend so bitcoin's in an Uptrend we're above the 50 moving Average above the 200 we're above all Short-term moving averages EMA 8 SMA 20 Simple moving average it's with anything It's a question of when you get in if

You could it go down to 2425 easily and So if you get in here at 28 you it goes Down to 25 you're not happy right but it Would still be in an uptrend at 25k it Would still be above the 200 so it's Good to kind step back and get off that 15 minute or 1 hour chart and kind of Step back and look at the longer term Trend and uh the way to do that in my View is on the weekly chart and did you Say you were talking about the 200 Weekly EMA no 200 should not have an EMA You want to go exponential moving Averages are for short-term price action They're more weighted so for example Like an EMA 8 which I use you have eight Periods and the most recent candle has a Higher price waiting than the seventh or Eighth candle and the whole reason you Use EMA is it's for short-term trading Because it's more responsive to the Price right the longer you go out you Want to go to a simple moving average Above 50 it doesn't make sense to use an EMA so when you're looking at a 200 the 200 should be a simple moving average Not an exponential moving average okay That's interesting so overall do you Think Bitcoin is still in a bare Market No definitely not no not technically Speaking I mean it can't be in a bare Market if it's in a confirmed long-term Uptrend right it's above a Rising based On classical charting right and I've

Studied CMT on based on classical Charting we have a confirmed uptrend Right and we're above we're above a Confirmed upter in the weekly chart they Can't be a bare market right um if you Bought in at 50k Michael sailor told you To like mortgage your home to buy Bitcoin yeah I'm sure it feels like a Bare Market but technically speaking That's what I do I do ta Trend analysis It mean it's an uptrend so you can't Have a bare Market in a confirmed Uptrend does anything else affect your Opinions on that or is it just charting That's a good question is really really Not just a good question it's a great Question I use and I found that works For me as a combination of both Sentiment and technical analysis I'm not A fundamental analyst I don't really Believe there's much value in kind of Macro podcasts and all this stuff people Theorize and really think the price is Going to go because you can really just Watch does the price hold support or not Um when it comes down to it the price Will fil tell you if the news matters Right that's why you look at the chart But sentiment is a really important clue Because we are social creatures we Emotional creatures and you will often Find that people get really excited at The top they get fearful at the bottom And I personally didn't buy the bottom

In Bitcoin I didn't get long until 185 When the trend changed but around 155 16k I noticed there was a sentiment Bottom because I track both on Twitter Where I do a lot of my public work and I Just noticed okay that people now are Really giving up and now it almost feels Like Bitcoin really is dead that's a Sentiment signal so if you can get the Sentiment to line up with the technicals You're going to be in a really good Position so other than the chart I look At sentiment and those are the two tools That I use uh to analyze the trend what Do you think impacted bitcoin's price The most in 2022 just a continuation of A topping pattern in late 2021 I mean we Made those we had the April High we had The November high and you started to see A price break down um in December on the Longer term time frame chart like in the Weekly chart we started to close below You have to look back at the um the week Really just the end of the year in 2021 And that first week ending January 3rd We had our first kind of real close Below the weekly 50 moving average and So that's a sign of a weakening Trend Right and you think about a boat like a Big cruise ship or something on the on The ocean to turn it's slow you can't You don't just turn around quickly it's Not like me or you and like a jet ski Right we can just pivot these things

Turn slowly she always looking for signs Of weakening Trend end of Q4 2021 and 2022 was just a follow through on that Momentum and we had a series we had a Very well control downtrend in 2022 Where the price would drop have an Overreaction dip where it went dropped Too quickly too fast and then it would Do what's called a mean reversion or People colloquially if I'm saying that Right referred to as a relief Rally or a Mean reversion so it dropped too quickly Then it bounced to kind of the underside Of a moving average like the EMA 8 but On the daily chart for Bitcoin Especially was the EMA 34 was kind of The main culprit right technically Speaking for the price in 2022 so we Just had kind of the middle Innings of The baseball game right 2022 the Continuation of what started the topping In November 2021 which we we could have Seen coming and we did see coming there Were technical signals there was Ethereum breaking out which is often a Warning sign um so it dropped because it Was in a downtrend in 2022 and there Were periods of pause and continuation There were periods of there fake outs as Well we we had a um a brief break of 46k Which was a was a bull trap it went to 48k and then rejected underside of the Daily ma200 you was all stuff you kind Of if you follow it day in and day out

Like I do you kind of just like remember Those things but to kind of answer it More simply it was just a control Downtrend that Consolidated all the way To the end of 2022 when we had our final Capitulation and that sentiment bottom But the price itself the trend the price Didn't give you a buy signal until it Recaptured 18K and that was like the Second week uh of January so you Mentioned the 34 EMA I think right why Why so specific on the 3 for well I mean You got to ask the price right cuz I Don't first of all it's a Fibonacci Number and people tend to use for EMAs a Lot of people use the 8 21 and 34 I Don't use the 21 because I use the Ballinger bands which have a simple Moving average the ma2 so I feel it' be A little bit too much to use both and Ma20 because I use Ballinger bands so I Use 8 and 34 and I like to teach and I Refer to them as EMA 8 is primary Resistance and EMA 34 is secondary Resistance I mean the price the price Chooses those levels I mean if you pull Up the daily chart and you look at the EMA 34 and you look at the price breaks Down it tries to um get over you know in November it couldn't get over the the EMA 34 tried again there the end of December couldn't get over it right be Benjamin if you look at uh early February you see how we started to close

Above the EMA 34 that was a sign of Weakening bare Trend and we we almost Reversed there right like I mentioned Earlier the failed break out of 46k Right you pay attention when the price Set the obstacle at 46k rejected their Fed 10 re their F 15th rejected there March 1st and then we broke out above it March 27th but then we got turned back At the 200 and then you had a new sell Signal essentially what's called an up Thrust or a false bull break right so The EMA 34 gave you a signal that now I Need to start looking for a reversal Right because it had rejected until then And then we had the false breakout we Talked about that and look EMA 34 Rejected in April April 21st rejected Again May 3rd look where it rejected Again June 1st right look where it Rejected again June 7th look we're Rejected again July 8th and then lo and Behold what happened middle to end of July we started to close above it and we Started to have a little more of a Sustained counter Trend rally people Fall TAA we had we had a triple negative Divergence and a rising wedge and we Broke down so EMA 34 if you think about It's just secondary there primary either Support which would be emaa or or Secondary support EMA 34 in an uptrend Right you'll see the price will Oscillate between it will up too fast

And then we'll come back and it will Catch a bid that you're by the dip level Right EMA 8 and then when the primary Strong uptrend loses a little bit more Power the EMA 34 or in often combining With ma20 it's your secondary your Second level uptrend and you get a Deeper consolidation a deeper reset of Oscillators you know hopefully this Isn't too you know academic or too heavy For people but it's just it's a moving Average of price over 34 periods more Equally weighted to the most recent Price action and the price loves it Right so why EMA 34 the price not me I Just listen I pay attention to the price You know what I mean that's how I Approach it gotcha and just confirming You were talking about 2022 for all that Correct yeah I mean and the EMA 34 Action we referenced started in November Of 2021 and it continued and played out Really all throughout 2022 so similar Question what do you think has impacted Bitcoin's price the most so far in 2023 It's a chicken in the egg right like What's the reason why that the why did The price reverse is it because we had a Sentiment bottom why did be of the Sentiment bottom why did the price turn Around I don't know and I don't really Spend that much time thinking about the Why because I can listen two or three Really smart spaces or podcasts that

Will have different reasons but you Never really know what it was for me It's just what does the price do does it Hold support a break resistance I just I Almost really don't even care about why I more so care about how clean is the Level that I'm trying to trade upon how Well defined is that level so then I can Kind of Define my risk right and why did It turn around I don't know I really Don't care it's a trend it looks like The trend is continuing I mean it's been An uptrend you know for its existence Since the beginning and it looks to be Continuing that behavior why did it turn Around is it because the banks did this Is it because um I mean who knows I mean Those are things you'll never be able to Answer definitively if it's right or Wrong and those are great for let's Smoke a cigar and have a bottle of wine And we can talk about it but like that's Just a pass the time that doesn't help You in any way in terms of actually Trying to execute a trade or even an Investment plan those things are Irrelevant Right it's all that matters is what the Price does in relation to support and Resistance and sentiment you want to Work that in as well how does bitcoin's Most recent bare Market the one we have Transitioned out according to your Response to one of my earlier questions

How does that compare to previous Bitcoin be markets it's pretty similar Technically speaking it was a little bit More severe on the weekly chart we spent The most time in our history uh below The weekly ma200 and even the weekly Ma200 was the most flat it's ever been I Think it was like seven degrees terms of Like the height of it right so in terms Of like the uh slope right of the rise And now that's improved I think the Slope is back up to like 9 or 10% so Starting to rise again right so Sentiment wise it felt the same because We had the we had the like Bitcoin is Dead and it felt dead and that marked The bottom but from a technical Standpoint it was deeper it's how do you Want to look at it right we didn't do an 85% retracement I think we only did like A 65 7% retracement but on the other Hand we spent the most time below the Weekly 200 which was the biggest threat For the price for the first time in History the price broke below a prior Cycle high right breaking below the November High November 2017 high right The um you know 196 or 20K high so it's A little bit of I could kind of approach It a couple different ways so in many Ways it was similar but in many ways it Was actually more vicious and more Threatening than we've ever seen before That's something to pay attention to and

That almost leads me to thinking we Don't just shoot to a new all-time high We probably maybe I'm just thinking Maybe more go sideways for a little bit Couple years years rather than just CU In the past it was it's easy you know Drop 80% 90% buy it and then the new All-time high I think it's more likely To kind of shake out and take shake out A little bit longer take a little more Time to churn and consolidate uh over The six months of the next year so for Example like for this year I wouldn't be Surprising to me if we don't break 50k This year right that would be reasonable To me that we don't break 50k this year And that wouldn't be bearish it would Just mean that more consolidation is Needed and Trends need to pause and Consolidate you have to rebalance the Supply demand equilibrium you have to Get the short-term speculators out and Um you know longer consolidation is good Because that will allow for a more Sustained a next leg higher interesting Thanks that that was a lot of uh lot of Good input there so I've done these so It's all off the top of my head like I Think about this stuff all the time and So it's it's not a problem so moving Into the next segment called Trade Secrets yeah basically just tell me About your background or as much as You're comfortable diving into when you

Were little what did you want to do when You grew up so it's funny I actually Just published my third book which is a Trading quote and I wrote up like a Little story in the beginning just to Kind of people get a sense of it and um And I talk about the fact that as a kid I actually wanted to trade stocks I mean Sure I wanted to be a fireman and I Wanted to be an astronaut and all that Stuff too but I wanted to trade stocks Cuz I was like wow these people have Unlimited money and all you got to do is Buy low and sell High and um I remember Like in my teens there was a book it was Like a stock trading book and it was Like there was these green dollar signs Point and Arrow Signs pointing up and it Was very compelling right and I thought All I got to do is read this and I'll be Great and I started to reading it and I Was like what am I looking at I had no Idea what I was reading I had no context Right I had no frame of reference I I Didn't understand anything so you know That was discouraging and I had more of A traditional role I studied psychology I had careers um in sales and operations Customer service people stuff that's why I've always been pretty good with people It's kind of that's what I've done in my Career and but I and then I eventually Started to start trading when I you know My young adulthood my my 20s I started

To trade Big Board stocks I really Wasn't doing well nobody just starts out And does great but I traded traded here And there big board stuff and then I Learned I found poker and I got really Into poker and I practiced it right mean I started with the $5 tournaments and I Played like 500 of them before I moved Up to $10 tournaments right like I got Really good I did what I think people Need to do um is is I started to build Up a muscle memory and poker taught me a Lot of like Risk Management stuff which I' I've applied to teachings and my Trading on with crypto and I'm actually Working on a a poker and trading Crossover book which will be book five Which I have a draft on right now so I Did poker for a while and then I Eventually started to trade more and More seriously and right around like 2013 I started trading penny stocks Which I just immediately fell in love With because of the volatility but I was Trading a lot of off the chart stuff too Right I was trading a lot of it was a Lot of like bu the news and I I didn't Realize why like this like a news Article or like um piece of news item I Didn't understand why the price didn't Go up when I thought oh it should go up Now right I didn't realize it had been Already going up and um so I had a lot Of hard lessons I learned but those

Losses and frustrations made me want to Get better so I started to get serious About technical analysis I started Studying Japanese Candlestick Theory and Uh started to get really good at it Putting in the time reading textbooks You know and then eventually I started Studying classical charting Western ta This is around the time I discovered Crypto too right in 2017 um and crypto Came to me at a really important time in My life in 2017 I was diagnosed with Cancer I'm healthy now I'm doing great And uh had wonderful care and I'm really Thankful for that but while I was going Through treatment you know I was Miserable as you'd imagine and having Crypto in my life was something for me To really focus on and a lot of people I Knew people were counting on me cuz I Created a nice little online presence Where I was like a newbie Helper and I Had passed on the lessons I had learned So I kind of leaned into that right and To kind of live up to that role I had to Get even better so I started reading Classical charting textbooks and I had a Nice little break Crypt man ran had me On his um CNBC Africa program and that Got me some visibility and that was nice And I leaned in even harder to get even Better and then I started doing Bitcoin Live I was honored to become founding Analyst at Bitcoin live with like Peter

Brandt and like a bunch of other like Legends and like so I had to again I had To live up to that I had to rise that Occasion so I continue to study and Learn I eventually studied CMT CL uh Chared Market technician I did the level One course and that taught me a lot Because up until that point there had Always been a lot of like rules of thumb Where people oh this is my rule of thumb And people would this is how a candle Should be and like no I wasn't really Sure what the real answer was so going Through CMT and studying ta Professionally kind of taught me what The real real deal was is that that just Like super turbocharged everything for Me and kind of brought it to a whole new Level and my trading got way better my Analysis got way better you know and Then I published trading wisdom Trading wisdom has done really well I'm Really thankful for that and I've just Continued to grind and practice and Grind and practice is which which is What you need to do and here I am today Interesting so you mentioned the old Adage of Buy Low sell high but if I'm Not mistaken that is highly subjective Correct like you don't think about I Mean well it depends on the trend like Because you don't want to buy low in a Downtrend like the whole you know most Of my if I could go people the great

Question which you may or may not ask Would be you know like what could you Tell your what would you tell your as a Trader like 10 years ago and I would say Stop playing downtrends stop trying to Play reversals you know 95% of my career Losses are on reversal plays focus on Continuation playes focus on an uptrend That just dropped and it's now Revisiting prior support like you're Going to lose your money playing Reversals so like the whole idea by low I mean you know it's more of Survivorship bias where people remember The like one time at worked but you know 80 to 90% of the time you lost your Money and then you're stubborn you keep Averaging down losers average losers Right there's there's that phrase so cut Your losers add to your winners and the Rest is history and that's how you have To approach it do you currently trade And invest in multiple different markets Or just crypto oh yes I'm kind of uh we Touched on this earlier where you you Know do I do more analysis or trading And I mentioned how um it kind of Depends on what's going on so like There'll be times where I may not take a Trade for a week or two and there'll be Times when there's volatility and I Could take like a 100 trades that day And so I'm all I'm scanning multiple Markets I I trade Forex I trade a lot of

Um Big Board stuff equities like New York Stock Exchange stuff um and I'm Trading crypto both the big stuff and Like whatever has action whatever alt Coins have action right but to me They're just they're just they're Vehicles for speculation these aren't Like companies especially with crypto I Don't see any of these as like existing Or real or like for me the word project Is anathema to me it's not a project I Mean these are vehicles for speculation So I try to find a trend I try to ride The trend and take advantage of dips Like in an uptrend or rips in a Downtrend so you mentioned it a little Bit in that question and I asked you in The pre-c conversation before we started Recording do you want to just explain I Asked you whether you consider yourself More of a Trader or an analyst do you Want to dive into that a little bit I Don't know what you I mean it's hard to Differentiate the two because my trading Comes from my analysis and I do Professional analysis at Bitcoin live Twice a week I record member updates I've done that for the Last 5 Years and A lot of what I do on Twitter is giving People it's free analysis because like a Lot of people of d jobs right so they Can't sit there and like pay attention When the 4-Hour Ballers are pinching Like I am a lot of people like have me

On alert so that like when I see Something they can okay there's an alert It's not like a buy Here alert it's rare Those will happen when it's a very clear Case but a lot of times it's an Observation the price is revisiting this Major level this type of you now this New piece of information and encourages People to then pull up the chart their Own chart and make their own kind of Analysis their own decision I'm kind of Alerting people to when things are Happening um so I do both both Professional analysis Bitcoin live and I Do it for free on Twitter because and I Also because I think my feed is kind of Like the flock of sheep I'm trying to be Their Shepherd and I'm trying to know my Whole motto has been helping the new Traders avoid my old mistakes right that Was my old motto from when I first Started doing social media back in like 2014 for Chads but like I'm trading Stuff too but like a lot of the stuff I Tweet I'm not trading because I'm less Is more and I'd rather have a few really Really well executed trades than have Like 20 trades in play at once but There's days where I am trading a lot January 24th the February 24th dip on Crypto the May 12th dip these are days I Remember because these are you know Major volatility events and when there's Volatility I am trading a lot so it just

Depends what's going on you can't really Separate am I you know an analyst or a Trader you can't really separate the two At least in my mind they kind of go hand And glove last part in this segment Which is what was the hardest part about Learning to trade for you well hardest Part is is um cutting losers like taking Losses and admitting like you failed and A lot of those losses started with like Bad entries where I kind of bought the Big Green candle rather than buying like The red candle in an overall green chart Right like the timing of the entry but The hardest part really is admitting You're wrong and moving on you have to You have to manage your risk and that Comes down to how well can you define Your trade idea and how well you can Define it you have to be able to Define When that trade idea fails right and Will become invalidated and like I Didn't have those tools in my toolkit For a good part of my trading career Right the hardest part is admitting You're wrong in in many ways so moving Into the last segment here which is Called the next Bull Run basically so You in the first section I believe you Said that you think we are that Bitcoin Is already in another Bull Run yeah We're in an uptrend I mean a bull run These are narratives more than anything I mean an uptrend is a technical term

Based on what the price is doing a bull Run I mean could mean a lot of different Things so I don't know that those two Are Interchangeable right depends on you you Could say bull run it might mean Something different to you than to me But we're in a confirmed uptrend on Bitcoin right now so how long do you Think personally the uptrend will last I Kind of think of Bitcoin as sideways Towards up for the rest of the year I Think it's it's got that kind of feel to It and you know the further you go out I Mean the less valuable your quote Unquote predictions or your kind of your Handicapping or your read is I mean cuz You have to fa to adapt to new data I Mean when we were at 16k I thought we Were going to 12K because I'd been Thinking that since 40,000 right and I Wasn't going to changed my mind until The price did something and it did Something recaptured 18K and it went Long again you H it's good to have a Plan but you have to also it's more Important to pay attention to what the Price does and the new information so It's just not that useful like year-end Targets aren't really useful I think It's one of those things where people do For click or they do it to make other People feel better cuz they want to make Everything simple and easy it's not

Simple and easy it's always your best Guess it's all a lot like poker where You're trying to find a situation where You're a 60 to 65% favorite and that's a Good spot right you're not going to be 100% 90% those situations really rarely Or pry pretty much don't exist in Trading so I uh used to play hockey for Quite a long time what position I was a Defenseman uh played played in college And stuff like that but um there's an Old saying that goes something like read And react so basic basically when you're In the game if I'm not mistaken you have Your your kind of game plan and your Goals and stuff but you also have to Read react based on what the play is Doing would you that kind of seems Similar to what you're talking about Correct absolutely yeah I mean you come In with the I mean ta is is about what Has already happened right and to come In with an understanding of what the Trend is doing but you have to like That's why we study the chart right Because we build up a muscle memory and So when we have volatility we can put That volatility into context and a lot Of people freak out when there's a big Drop but if you understand what that big Drop means in terms of the larger Picture then you don't freak out you Kind of put it into context so that's The reading and reacting right that's

The multi-time frame analysis if I'm Trading in the 4 Hour I know where the Daily is and I know what the daily is Doing in relation to the weekly so You're kind of all to understanding the Larger time frame even if you're not Trading on it you have to understand What what the situation is that you're Working within so it's very much read And react so do you think bitcoin's Price will ever flatten out and stop Having such big bull and bare market Price swings definitely yeah I Definitely do I definitely do I think The longer it the more institutionalized It is the more it becomes like part of Everyday life and more just part of the System I think the volatility will wean Over time I definitely do and one of my Last questions or if not the last Question you talk about uptrends so how Would you compare bitcoin's previous Uptrends like I'm thinking like what Would what would you explain in terms of Years and how long you would classify Each uptrend and then what you expect Kind of for this uh this one that you Said we uh have entered according to you We're in an uptrend it's hard so that's A tough so yes you can try to compare it But it's different because the beginning Of this uptrend was the deepest drop Below the ma200 in history which is why I'm partially I don't think we're just

Going to go to 100K or 50 I don't think We'll make an new all-time high this Year I think that would really surprise Me prior uptrends I mean the move from Um in all caveat that I mean that if you Look what happened 20 2017 we topped out We bounced off the ma200 down like 3K in December of 18 then we kind of set a and Then July 19 we set a new high and then We kind of dropped again with the co low It wasn't essentially until we broke out Above really like 13 14k in November of 2020 that that it looked like it was Starting a new uptrend and that move From like 15 or 14k to to 64k surprised Me I thought we would have stopped out Around 40 to 42k and then paused so the Thing with Bitcoin is there's times when It will surprise you to the upside and So they may do that and I'm ready for That and I'll I'll know how to trade it Because I'll understand you know where The price is in relation to Major levels But each kind of move is different and It's a different percentage too I mean It's a much bigger move from you know 200 bucks to 20K you know like it did From in two years from 2015 to 2017 it's Kind of ridiculous I think we should Want as folks involved in the space we Should want a more controlled steady Rise in Bitcoin and especially if you're In altcoins right the best environment For altcoins is a stable Bitcoin a

Slightly sideways to a slightly Uptrending Bitcoin is the best Environment for altcoins where it makes A new high then we kind of pause and Consolidate for a while um that's the Best type of you know setup so if you're A Trader that's kind of what you're Hoping for you know it's what I'm hoping For I don't you know million dollars not Happening in a long it's going to take a Long time if and when right right I Think we need to be more tempered with Our expectations of you know just cuz It's done XYZ in the past I don't think We should assume it's going to do XYZ in The future I mean it's such a new asset Class as well so I think it's easy to Fall into the Trap of um looking at you Know 12 13 years of price history and Saying well it's always done this and The havening is coming up so it's going To do another 3 four 5x or 6X whatever Like I just you can't can't operate that Way you have to be a little bit more Cautious and again recognize it's a new Asset class we're not comparing like the Spy or I guess spy's pretty new too but We're not comparing like the Dow Jones Over time or like Coca-Cola stock or Something you know what I mean like we We have to work with the data we have And recognize the limited value in only You know 12 13 years of data which is Why I don't even looking monthly charts

For Bitcoin it's too young for me and my Method of analysis that you know Bitcoin Charts too young to look at in the Monthly chart we don't even have a 200 Ma yet right so there's no technically There's no Trend so then that if it's New I've came looking at monthly I mean You got to so you got to kind of Coach Everything with that knowledge that it's A new asset class so that I guess that's How I I would answer that question well I think that just about wraps it up Thank you so much for jumping on and and All of your your answers there no sweat Man always happy to uh to discuss my Favorite asset class thanks for tuning In to crypto trading Secrets presented By coin Telegraph we'll catch you next Time N


Coinbase is a popular cryptocurrency exchange. It makes it easy to buy, sell, and exchange cryptocurrencies like Bitcoin. Coinbase also has a brokerage service that makes it easy to buy Bitcoin as easily as buying stocks through an online broker. However, Coinbase can be expensive due to the fees it charges and its poor customer service.

Leave a Comment

    • bitcoinBitcoin (BTC) $ 63,363.00 0.04%
    • ethereumEthereum (ETH) $ 3,075.02 0.51%
    • tetherTether (USDT) $ 0.998540 0.21%
    • bnbBNB (BNB) $ 544.20 0.56%
    • solanaSolana (SOL) $ 138.57 1.16%
    • usd-coinUSDC (USDC) $ 0.998374 0.18%
    • staked-etherLido Staked Ether (STETH) $ 3,069.38 0.38%
    • xrpXRP (XRP) $ 0.497942 0.16%
    • dogecoinDogecoin (DOGE) $ 0.156703 0.55%
    • the-open-networkToncoin (TON) $ 6.39 3.19%