One More Flush Before The Big Altcoin Bounce (Get Ready) Transcript, AI Summary & Key Points

00:00 ago, we asked for a doubledigit red month on altcoins. Fast forward 30 days, and as you could see, multiple and most of all coins did give us a doubledigit moves to the downside. So guys, new monthly beginning. We're going into November now, which means we got a monthly close I want to speak around. Then I want to speak around how we're going to attempt these lows again.

00:21 Okay? And there's a very important reversal pattern I want us to pay attention to. Right? We've been waiting for a pull back into these zones, okay? And we are going to get a fast reaction on one of the major supports I'm about to show you. At the same time, I want to speak around the altcoins, but we have Ethereum to Bitcoin starting to break out. We have the Bitcoin dominance rejecting, which means that when the bounce comes, all coins are going to bounce nice and strong.

00:44 So, let's get our positions ready, guys. Do me a favor. Smash a like. Missed you guys. You guys like up. I'm giving away probably like $2,000 worth of Bitfunnels today. So, smash a like. Let's go. >> I try and help [music] everyone in my space and this is what I get. I try and fight the devils, but inside the show. And how are we doing, guys? New start of the month.

01:11 Let's go. It was a crazy last month. So, if we look at a couple of the big um drops, right? Couple of big L coins here we want to pay attention to, right? We want to look at the blue chips. see which ones are incredibly good, special, pop up the chart, see that they're on strong supports, right? And we are definitely getting in the areas of accumulating for the next rally to the upside.

01:30 Right? There's a couple important charts I want to show you guys, but at the same time, HAR down 30%. Right? We have chain link down 20%. Right? We have uh SUI down 24%. We have AVAC down 21%. Right? We have ICP 24%. UniS swap, which is one of the the good ones that I'm really accumulating for the cycle, is down 21%. Algoran's down 26%. So guys, this is what we want, right?

01:55 When it comes to building positions and buildings up, you do want to be buying doubledigit huge bubbles when it comes to this, right? Which means we have had a bare month come into play. Now we bring up the charts and we pay attention to where exactly are we. So the first thing I want to show you guys is the monthly time frame chart. Right? So important thing that I want us to pay attention to here, right, is kind of looking at where in the cycle we are.

02:19 Okay, so the first signs for me was the big bounce of the low, right? And you can see here that we've seen it basically multiple times where we have a initial first bounce and then we have a bounce that goes slightly lower down, right? So we have the slightly lower point over here and then what we have is we have an engulfing move that comes into play.

02:38 when we engulf, we pay attention that it gets through the 200 day moving average and we want to pay attention that it breaks through the major trends. Okay, so kind of fast forward that and look at where we are now. We have the the higher low, the W pattern. And it's quite interesting because I see a very similar pattern on the shorter time frame playing out on uh the bounce we're looking for.

02:56 Okay. Uh but as you can see, there's the lows, right? There's the 200 day moving average break. There is the new high that came into play, right? Right into resistance. Okay? Which means that after this we're basically preparing for a move to break through those areas. But like I spoke previously, we need to get a little bit of power for us to do so.

03:13 So as this market starts to reject, the bears start coming back. When I start going through X and I start going through all these different places now, bears are back and they moving faster than ever, which means shorting is coming back into the market, which means we are going to start getting huge pools of liquidation starting to form in this area over here.

03:31 Okay, this is taking a little bit of time. Okay, we knew it was going to take some time. Why? because the weekly had to come down, right? So, if we look at the weekly stoastic, and I want to bring it up here for a sec, right? Just to show you guys, this thing is now starting to make its way to the downside. Okay? When this is nice and reset, we're looking at a couple of months and move to the upside, right?

03:51 One thing to pay attention to, right? Going back here to the monthly time frame, and I want to remove this for a second, right, is uh is the keys again so that you can understand where we are, right? But it's important for us to know where we are to have conviction to keep showing up every day and keep paying attention to to why we're buying, why we accumulating.

04:07 Okay. So again, the signs are the first weekly high, the breakthrough, the 200 day, the breakthrough, the trend, right? Three reasons. The next one is us exiting the oversold uh stochastic monthly RSI. As you can see, we're in the same place, right? So if we go look at all the times of when this market started to reset, right, was all the times that we had the same signal.

04:25 Where did this go now? Over here. Okay, that we are seeing multiple times over here. Okay. Okay. And what we also saw is the moment that we did start to break out, we did always have these little retest zones, right? So I have two areas of where I think we at. We're either here, okay, or we're here. Right? These are the two kind of areas because one thing that's going to be difficult with this market going forward is timing, right?

04:48 I think timing is always going to change. We're here, it could have taken three weeks. Here it could take two weeks, right? I think timing is always going to come into play. So for me, I'm just sticking to the very basics of the key indications that we're looking at. Okay. But as you could see, this is one of the retests that I'm paying attention to over here, which gets me to the next point now, which is the the the candle close.

05:07 Okay. So, we did have an engulfing candle. Okay. And if you look at the engulfing here, we did have a bigger red candle come into play. Okay. Now, what that basically means here is it means that we could see a start of the month a little bit red. Okay. But it also means that if we want to have a strong bullish momentum from here, we must engulf this candle.

05:26 Okay. So, what that does mean is if bulls are going to step in, right, it's very likely we're going to have a strong month come into play here. Okay. And one thing I want us to pay attention to here is the amount of support that is laying here, right? So, you're sitting with a previous monthly high over here. You're sitting with the previous monthly closer sitting over here.

05:47 you had the 200 day moving average, which means that this entire zone here is just filled with a ton of high time frame support. Okay, so this for me this I'm very I'm confident in a sense, okay, that we're going to get a bounce in this area. Okay, and at the same time, the bull step in here, we're looking for a strong nice uh engulfing move to the upside, right?

06:10 So, a lot of reason for us to kind of be bullish here. And when it comes to the the the the altcoins, this one's looking even prettier, right? So, altcoins are sitting and they just tag the 200 day moving average. Okay, when it comes to key Fibonacci points, things that I pay a lot of attention to, right, the 618 is literally sitting over here at the 200 day.

06:28 Okay, so this is going to be a hard zone for the bears to get through. Okay, and this could very much be a strong bounce we're looking at. Now, the next thing that I want you to pay attention with the the the altcoins, okay, is this candle. Now, you saw the Bitcoin candle was bigger than the the uh the green candle, right? The red candle was bigger than the green candle.

06:50 This little bit of difference here, I wouldn't be surprised if this candle actually engulfs this month, right? We did actually have the bulls win over the last two months by tiny little bits. And it's crazy how you'll see with TA how these little bits can uh can play a lot. Okay, what you are sitting with is a wick, which means very likely we starting the week the the week or the month off red.

07:09 Okay, but a bounce at the same point or a slightly higher low, we're going to start moving up and attempting to try engulf this candle. It will either happen in one engulfing or can happen in two engulfing candles. Right? So, a lot of exciting things for us to look forward to right now. Okay? And what it's also done is because we've put in this high has given me an understanding of when realistically we are looking to break out, okay, and start the next wave up.

07:33 Okay? So when we've put in this high over here, you've now finally given me a lower high area that I can track a very key trend line on. Right? So I can now track it on the altcoins and I can also track it on Bitcoin. Right? Which means I can now put this in and it gives me a good idea that how long it's going to take for this market to kind of fight around these zones and when the real breakout is incoming.

07:56 And as it stands right now, okay, if we engulf this month, the breakout can happen this month. But as it stands uh stands right now December right anywhere but between December January right is when we possibly look to attempt to the 100k zone. This is for now right why is it that important so that you can still keep your nice cheap limits orders in in case it goes there.

08:18 Okay but this is kind of the line where it's like hey we're breaking here now I'm not seeing us pull back anymore I'm seeing us move from here right I need to get into my positions now. Okay, so you got two ways of buying alts, right? When the alts are moving down here, you're either looking at big zones to accumulate them on drops, right? Falling knives, things coming down, you're looking to to get the downside of that is not catching the drop and going all in.

08:39 So dollar costing averaging is the strategy there. Okay? And then the second one is just allowing it to chop and chop and chop and break the very key trends. Right? When we break the key trends, the real moves start to happen. Okay? So there are two ways you can kind of play it over here. I'm looking to accumulate some lows but at the same time I'm keeping capital right to buy the breakouts of the major moves to the upside when the market is basically ready.

09:03 So as you fly through a bunch of the alts here you will see and this is key ones that I want us to pay attention to right is uh Salana right soul coming in there is a chance of a lower low on soul but the 200 day moving average is sitting at the late 80s right the horizontals are sitting at the late 80s okay so here between the late 80s and the early 90s looks like a very good zone when it comes to accumulating Salana and if you look draw the Fibonacci in here right the 6180 is sitting at $88 $8.

09:32 Okay, so as you go through, these are simple tools that you can use. Here is chain link as an example, right? I can put the FIBs in and that's lining 618. We actually hit that already in the mid $10 range and slightly lower down is the early $10. So for me, for someone that wants to build trailing positions, that's where I'm building them, right? And these are ones for the next leg.

09:51 What I am seeing after this guys, and the same thing, you can draw the top trend in that helps you identify when the real breakouts happen. Okay? But once we are done these areas, I am looking at the range to the middle or the the move up to the middle range areas here. Right? So very simple there. There's ETH on the 200 day moving average right now.

10:08 Okay. XRP fighting the 200 day. And if I look here at the the 618, this one might go a little bit cheaper. We might get XRP at uh uh 1.12 maybe just under those areas over there. Okay. But nonetheless, this is not a I'm worried that we're going back into lows type of scenario. I see some people are talking 40,000 again and 60,000 again. And remember, they were saying the same at 58 and then we we rallied up to 80,000, right?

10:35 So just keep that in mind. Uh and what you can also do, okay, is you can also draw these bottom trends in. This is quite important. So I'm going to go back to Bitcoin here. Okay, you have your top trend, which is this one over here. Okay, and now I want you to draw your bottom trend. Okay. And that gives you that for me is a bare market line. Anything above that, I remain bullish for the bull market.

10:58 This bottom line over here, right? So, you can go any of your charts here and you can pop in this bottom trend line. That is the only time I would say, "Hey, no more upside. We're going down, new lows, these type of things." Like, until then, full bull, right? Can I see yeses in the chat? Yes. Yes. Yes. We're paying attention. We can move on. Okay. Okay, now as I'm moving on, just remember today I'm live trading in the insert trade.

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11:54 So, join it up. Join it up. Join it up. Okay. Now, let's jump into short-term action. I do have two scenarios on Bitcoin, guys. I do have two scenarios. So, here both of them are indicating that we should move down first. There might be another little push up, but we got to realize that on short time frames or midtime frames, 79,000 80,000 is big resistance right now.

12:15 Okay. So, I'm expecting rejection. I am expecting a possible new low coming into play. Okay, but here's my two scenarios. Okay, so the one is the bottom has actually been hit and we make a higher low over here and then we start moving to the upside. If I look at liquidity and I look at everything on the short time frame, we should once we get support bounce up to around 82,000.

12:38 Okay, then we'll see how we react. If we break out from there or if we're going to come move a little bit lower down from there. But this is the two plays that I'm looking at over here. The one is we actually dip within the next three days. We drop all the way down to 73,000. Okay, keep that in mind for some limit order areas here to know which one is going to play out.

12:58 You can pop in once this high is in. Pop in this trend and we'll wait to see if that trend line breaks. That trend line breaks and it's indicating, hey, the higher lows in play or the lower lows in play. Okay, so as you go through a bunch of your your your alts, okay, you could see that the big supports are sitting here. Okay, the same thing we here higher low break or we are going to make the lower low break.

13:24 But both of them are indicating for me a strong reversal. When it comes to trading guys, unless I'm trading the 15minut shorter trades, I would wait for these trends to break. So I would realistically start trading bigger accounts for more size probably in the areas of around Thursday for now right as it stands. Otherwise could maybe catch bottom. So what does that mean?

13:48 It means I'm focusing very much on my long-term portfolio and my spot portfolio buying up on the current dip off. Okay. And then I'll wait to see the trends break to trade uh the big trade accounts. Guys, who wants a bidfunded account? Let me know. If you're using my link below, I'll give a five uh let's give away five $5,000 accounts. You need to like the button, push the like button, though, okay?

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15:37 Amazing. Amazing. Then guys, another thing I'll give you one more now. Join my club. Mikey, please put it there. Say nice and big. Sniper club. Come and join it. Lots happening there at the moment. Join the community. You want to stay strong through these times. Join the community. Right. So, join it over there. Okay, let's give away last one. Last one, Debbie.

15:58 One there for you. Okay, let's look here. Expect a choppy day, guys. Expect a choppy day. That's why trading for me is a little bit tricky right now. Yeah, but just expect a lot of choppiness. You can see the the yellow everywhere on the short time frame. Higher time frame, you can see it's leaning down to those lower areas. So, kind of just adding to the points of a shake out first and then move to the upside. Okay. Did I give away five mics? I did. Have a great day. See you tomorrow. Bye-bye. [music]