I'm Accumulating Altcoins After The Binance HACK (Here's Why) Transcript

00:00 Very interesting week for crypto. We had a Binance hack come out of nowhere and this is what the market is looking like this week. So, we've seen a extra acceleration happen to the downside and Bitcoin has lost $80,000. Now, there are three big things I want to speak around. The first one is where are the next big bounce zones? Are we at an area where we can see a bounce from these areas?

00:18 The second thing I want to speak around, right, is how long realistically could we wait to see this market to wake up? Is this a allin go type of scenario or should we be patient for a lot more downside? Then the third one is I want to speak around the top altcoins in the market and where they are sitting at right now and specifically on the high time frame because as me I'm a believer that the breakout that we've had recently was a high time frame breakout and we can be setting ourselves up for a whole new cycle.

00:48 Is this the time to be buying? So guys, do me a favor, smash up the like and let's go. >> I try and fight the devils, but inside I'm just like sniper. Welcome to the show. >> Okay guys, Binance hack. Binance hack come out of nowhere and it's the largest one right now. I waited at least 24 to 36 hours after this happened to actually wait for the market to settle.

01:19 Right? These things come now and then and they accelerate down and if you go look back a lot of these times they did mark close to bottomless areas. So as much as it is very bearish this might actually be the buy up we have been waiting for right now in the last week or so I've already started to accumulate and I spoke around how 40% in the market right some of my short-term positions got stopped and I'm sitting with a little bit more cash but nonetheless I've been sitting with 60% cash ready to build trades.

01:47 Now I'm at that point to say, "Hey, I'm getting a lot more interested in start allocating more into the markets." I knew that there was going to be multiple weeks of this taking its time and I had to make sure I had preserved cash in case it did come into play. And it happened to be a Binance hack. So now what we're going to do is keep it incredibly simple, right?

02:08 Allow the chart to just show you the strong areas. And what it's also going to do is show you which tokens are stronger than others, which ones we should be worried about for a lot more downside. The first one I want to start off with is Bitcoin, right? So this is realistically, you know, you zoom out now and again like I said previously, I do believe that this was the first break of structure, right?

02:28 After a long bare markets and downside move, right, we did officially break structure. So the question is now what we are looking for here is the higher low, right? And that low is sitting all the way down at 58,000, right? The higher low from here, I'm looking at the next leg to start and actually go reach the $100,000 for uh Bitcoin, right? And it's the same thing with altcoins, right?

02:48 This is where altcoins are at right now. Okay? And what we're looking for is the higher low and then the altcoins to rally up to these major areas. Okay. So the first one, let's jump through on Bitcoin here. Now remember we broke through this important level, right? Which was and I actually want to bring up a fresh brand new chart here. Just see if I can.

03:08 Yes. Okay. Which was this big important $69,000 zone. Right. So there was the the breakout that sent us into the areas of into the 80,000s. Right? So since then, right, supports were sitting tight in this area over here as we started to rally up. Okay? And then there's another layer of where we approaching now. And then there's the 200 day moving average, right?

03:29 So as it stands with Bitcoin, right, this is the very important zone that we are entering. Now, there was a chance that we actually didn't want to dip into this area. Okay? Okay, but now we've come down to these zones and as you can see there's a lot of horizontal support over here. But the important one is 200 day moving average. Right? So is this something to say, hey, bare market's back.

03:50 We're going down a lot more. Right? I think the important thing is to get perspective here and see that this is a retest. Right? This is a zone of a very important breakout and we are now retesting. Right? And many times how you've seen when we've broken out these zones here, right? The retests are quite important. Okay? And they've actually always been load up zones.

04:09 Specifically, if you believe that we are coming out of a bare market, right? The first signs was the first weekly uh uh new highs was actually this one over here, which is a little bit sooner, right? And you can see how we came down and tested the 200 day, right? And if you're a believer like I am that we are going to restart a new cycle, okay? Um this is a sign to say, hey, this is not a a a be worried or afraid time.

04:31 It's actually a time to say, hey, start start accumulating, right? start building positions up and specifically high time frame but at the same time there's also a lot of great trading opportunities and one thing that I did want to bring to your attention here right was this big range that Bitcoin's in okay for me that the ideas of a million dollar Bitcoin and things like that right I think it's going to take time to get there but what I am expecting is at some point we do start a cycle and start moving our way up to

04:54 the 160,000 right that is the play that I'm paying attention to and it's the same thing with altcoins altcoins are slightly less aggressive right so if you look at Bitcoin and you look at this big channel over here. What we're preparing for when alcoin buys here is a push up to these zones over here. Which means there are going to be some altcoins that going to do incredible runs.

05:11 But is every altcoin going to break highs? No, very likely not. Right? I think we're going to be a lot more in a higher quality, right, versus quantity type of market when it comes to alts? And I do think fundamentals, right, pay uh uh they actually matter this cycle. Previously, everything will kind of run. So again for me two blue chip tokens top two in every single narrative is kind of the players that are how I'm paying attention to accumulates.

05:35 So for me what we have to look at is a couple of important um setups or or or indications. Now the first one is yes the weekly stochastic is still not down at the bottom. After this week we are going to see acceleration down. This should be down over here but is highlighting that this can still take a little bit of time until this is nice and reset.

05:55 Now, it's not promised that this gets down to the bottom, okay? But very likely many times we got to be sure that it could, right? So, it's still telling us that, hey, right, this market could still actually sit for another two, three weeks and actually attempt down to these major lows. Something to pay attention to, right? But the very important indicator I want us to just remind ourselves of where we at right now is the monthly.

06:15 Right? The monthly is an important one because the monthly does not get reset often. Okay? And when it does, it has marked the bottoms, right? So when this has had a drop below the zone and it accumulated in the zone, it has marked marked the bottom areas, right? And you can see this over here. They've repeated the same pattern. Not only that, the start of the cycle started off with a break outside of these zones, okay?

06:40 As we've recently done, okay, and putting in our first weekly highs, right? Every time we have done that, okay, it has been a restart of a cycle. And at the same time, we have tested the 200 day, tested the 200 day, and now we're coming down to the possible 200 day uh uh area over here. So, for me, this hasn't changed any ideas of we're bearish now, bare markets back, those type of scenarios.

07:05 Okay. And u um it's actually excited me a lot to build up positions. Okay, so where I'm expecting on Bitcoin now is we have two short-term bounce zones, right? I'm going to bring them up over here. Okay, so let's go in over here and let me show you guys. So the first one is where we are now. Now there is a scenario where we actually bounce here and we attempt a real bounce right and I'll speak about that shortly.

07:31 But what I want to pay attention to is there is huge bearish divergence here. Which means that if the market is going to raise that bearish diver or bullish divergence, sorry, bullish divergence. If the market is going to raise that bullish divergence, it needs to it needs to continue moving down at a fast rate. If not, this is giving us a sign that yes, FUD FUD came out, right?

07:51 And remember, if something gets resolved from the FUD and yes, it's not a great thing that has happened to Binance, but something gets resolved, everyone it will come back, right? The hype will come back, everyone, everything will come back. And at the same time, this might actually bring the buying power that we need to start really making our way up to the areas because again, the idea here is this is leg one and we're going into leg two, right?

08:13 So, we need fuel to get up to those m major areas over here. So to keep it nice and short, we do have bullish divergence. And if we keep a higher low above this low over here, which is the just under 75,000. Okay, this could be a strong bounce zone. At the same time, we also are waiting patiently to see if that 72 to $73,000 is going to be tested. Guys, there are multiple supports here.

08:36 And this is where I'm seeing a bounce come at some point. Now, the next thing I want to show you guys is this chart over here. This one gives me a a idea that not idea but gives me structure, right, of where we're going to see speedups later on and giving me timing of how long this can take until a realistic breakout happens because I don't want to fall trap of fake bounces coming in.

08:57 I want to know when the real breakout basically happens. And the first thing I want to show you guys is this top momentum trend. Right? This top momentum trend is important because it gives us an idea that we are not anywhere from a breakout just yet. Which means that if we look at this now, we're actually looking anyway up to 28 days of when a real breakout can happen.

09:16 Which means this market does have 28 days now to go down to these areas over here. So someone that was looking to accumulate for the cycle gives me an idea that hey, I can accumulate in these areas. This could be a bounce zone, right? But for at least until we've broken out these trends, I must realistically be ready for the lower down targets too, right?

09:33 So this trend gives me an idea. Now what it also gives me an idea is we are starting to create space to the trend which means either here here or here right we're very likely going to see a aggressive bounce okay where we are going to rally up back to the trend then cool down and then get ready for a breakout right so that is something that is coming at some point okay and it can happen at any point but the real breakout for me happens once we've pushed in a high settle like this and move now what I want to add to that

10:05 is the areas of where price is going to accelerate. So if you look at this now, there's a wall sitting at 82,000. That's the first wall that bears are holding. The second wall they're holding is at 85,000. And then the third one is is close to the 100,000. Right? So that means that it may take a little bit of time here, but once it does start making progress, there's a fast move up here and there's a very fast move up here.

10:27 So, it's very likely that same model that we've seen many times where the market basically slowly grinds up once it hits a zone and then just pops, right? And that's the same thing that I'm highlighting over here that I can see once we've gotten one of these lows in. This is what I'm paying attention to over here. Okay. Now, the important thing is let's get back to the next part.

10:48 Right. One chart I want to show you guys is the USDT dominance. And I want to show you guys this chart over here. Uh USDT dominance. There we go. Okay. This one is highlighting that we are not super far from the low being in. Right? This is now not taken into this is basically taking everything into account, right? All coins, Bitcoin, everything, right?

11:09 And as you could see, unless we see a ridiculous move happen, right, it's very likely that anywhere from here we are going to see a cliffhanger drop. Right? Now again, there is slightly. So again, this chart going up is bearish for the market. Okay? Okay, but as you can see, we are well in control of this being a token that's bearish. If I was a to a person that was invested in this token, I would be quite bearish on this, right?

11:32 It's putting it first weekly low, okay, a lower high and then a fast move down. But at the same time, we got to keep in mind that there is space anyway up to the 28 days of where it could could take. This doesn't mean it won't happen in the 28 days, but it could take up to that time, right? And secondly, what's also a nice way to to to kind of uh give you an understanding here is this trend, right?

11:56 This trend's indicating the same thing. We need to see basically means that yes, this has affected the market mentally. This has gotten people to slowly start changing their mind, right? This has this doesn't have confidence. Let me buy everything in crypto right now. Right? This has affected the market mentally. Okay? Which for me is the place of where you want to be accumulating.

12:16 Now again I did a show last week and I explained that when you're accumulating for a cycle you're accumulating if you want agrade entries you're accumulating in the hardest point where uncomfortability right you just don't want to buy you don't want to it's you uncertain so just remember by the more we start to feel that and that starts to come through the more you're entering the agrade entries of the cycle right then I want to get to this point of the altcoins now the altcoins got hit a little bit hard okay but I do

12:42 think they're closer to buy zones than Bitcoin. Okay, I think Bitcoin can still possibly go lower, but alts are getting to that point of real strength. So, this is the big zone I want to show you guys in altcoins. Now, remember, I was accumulating my first buys here, which were actually slowly creeping back into. Okay, this is what I waited for, guys.

13:04 You got to remember this whole area here, I was bearish. Okay, so now this area, I'm bullish. Okay. And even us going down, I'm turning more bullish. Doesn't change now that I bought a little bit over here that I'm now bearish. Right. Don't don't work like that. The more we go, the more bullish I'm getting. The more higher we were going here, the more bearish I was getting.

13:28 Right? That's the play and that's the model. That's the mindset. Right? Don't allow these things to kind of shift and change your strategy when it comes to these views. Be smart with your cash. And if you're worried, keep some cash on the side, keep some low down, but the confidence of accumulating in these zones, right? Is a is a good skill to learn, right?

13:45 Specifically when you've calculated your risk and things throughout your entire journey, right? So again, there's the trend, first set of buys over there. Here's the 200 day moving average. Here's horizontals on the left. Right? So realistically, yes, this is the big zone on when to accumulate all coins. Okay? Now, something I want to add is next week we're going to possibly attempt those lows again.

14:08 We're going into weekly close now in the next day or two, right? We're going into to if this does not turn green again, show a strength. It's very likely next week it's going to going to come down, right? Nonetheless, I am expecting us to attempt these lows again in the next couple of days and a bounce there will give us a nice strong bounce up, give us a bit of relief, calm down, and then get ready for another break.

14:31 Right. So, I do think I'm not buying much right now. I'm not opening any trade positions right now, okay? But I'm getting ready in the next few days. I am looking to build up, which gets me to a point that I want to highlight to you guys that I'm opening up a trading room next week for five days where I'm looking to grow my WEX account by 50%. Right?

14:51 So, there's a link below in the description that says insert trade. You guys get to see every trade of mine live. You get to track my entire position and portfolio. You get to watch streams here live. You get to see what everyone else's trades are doing, right? You can see people chatting, leaderboards, everything like that. This is going to be incredible.

15:08 To get in, we link, right? We have incredible signup bonuses now, okay? So, you can go have a look if you don't have an account. It's in below in the description, okay? But you get in by having a banter or a Sheldon link, right? Exchange link. So, here we go for you guys. I want to bring that to your attention because I'm on the next pullback down. I'm hardcore trading this.

15:28 volatility is waking up and I'm getting ready. I want to jump into soon and that's why I think early next week we're going to find that opportunity. Okay, now this gets me to the altcoins. Okay, so I'm going to fly through these and give you an understanding of where where they're basically at, right? ETH is approaching 200 day moving average. Just below that, right, is a support.

15:47 Okay, so the zones as it looks now, right, is this area here is accumulation zone on ETH. This is one area where we could definitely bounce. Okay. And remember, by highlighting different areas, you know, there's a trend and or a couple of weeks until we really have the breakout. It gives you an idea to say, "Hey, this might be the bottom." Okay, if FUD it comes and it goes and when the FUD's over, everything goes up again, right?

16:13 That's what happens within. So, this is an area where me personally, I think it's really good buys on ETH. Okay? At the same time, I do think there could be another 10% move to the downside, right? A nice little flush possibility, but we have 200 day moving average and this might be incredibly strong support, right? As we fly through these as well. Salana, right, soul is coming into 200 day.

16:33 200 day is sitting at 88. I bought at 101. Okay, this one got stopped. I bought at 100, got stopped. I bought at 96. That one is still in. And I will be buying more anywhere between the late 80s and the early 90s, right? But this for me is accumulation on Salana, right? The targets stay the same. I still see a rally up in months to the 160, right? I still see the same plays here.

16:55 Nothing has changed my mind there, right? Render is starting to get cheaper. Now, there's some altcoins that are below the 200 day moving average. The only thing that I'm taking from there is not that I'm bearish on them, okay? Is they could have deeper pullbacks than the ones that are above, right? So, if this breaking down over here as it stands, my big zone to accumulate is this area of 1.4 to 1.55.

17:19 I was buying this at 1.6. 65 right to 1.6 okay so this for me is good areas where to accumulate render still the same token same one I'm very bullish on injective is there now at these big zones injective does have space to come down to $6 right we are hitting the first supports which are this horizontal supports over here right at $6.6 6 right AVAC 200 day moving average approaching 200 day moving average right sui 200 day moving average right guys this is the retests right this is the breakout and the retest zone I

17:54 am though putting a 10 to 15% range on this okay but this for me is strong accumulation zone so nothing has really shifted okay other than me seeing more opportunities and actually turning more bullish into the markets. So again, in the next 28 days, I see the real breakout. Until then, we can see 7172,000. I do see a bounce in areas where we at now, 7677, and this could mark the lows, but until we've broken through those trends, I'm giving it time.

18:25 Multiple tokens are 200 day moving averages. Ones that have broken below, okay, easily you can give a 10 to 15% barrier, right? Actually, any token in the market, 10 to 15%. But me ones that are at 200 days that are looking strong that have a great break retest those are ones that I'm really paying attention through on bias right the dominance okay to really close this off is at it's bearish guys the Bitcoin dominance is bearish okay so this is a good sign that when things cool and move we are looking at a strong

19:01 altcoin recovery so that's it from me I'll see you guys next week next week's a lot of trading join the trading room the link below is in the description Lot of love. Have a great day. Bye-bye.