Bitcoin Market Technical Analysis and Commentary – 2 26 2016 (Video)


Bitcoin Market Technical Analysis

Bitcoin Market Technical Analysis – We delve into the technicals of the Bitcoin Market in this video.

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Bitcoin Market Technical Analysis – Transcript

0:00greetings this is a con matters it is March 26 2016 and we’re going to talk
0:07about Bitcoin so this is a quite interesting market peaked my ears when
0:16people started cashing out there bitcoins to buy Porsche’s being a
0:22connoisseur pushes that piqued my interest
0:26little bit too wild ride to anybody that market person will intuitive recognize
0:37the potential for making money especially some of the rides that it
0:43went on as you can see it’s actually trading now on a Saturday which broker
0:52with I’d be in their new currencies trading today so that’s something right
1:02you want to study Khan Academy has been calling course they may also have some
1:11other bed Klein videos beside please I actually went through them one night
1:19pretty long and boring to be honest but I did get through and I do recommend
1:30Khan Academy taken to physics courses there and it’s a pretty interesting
1:36concept corn Wikipedia page do some further study
1:46farm in Iceland
1:57circulation national
2:32treasure hardware
2:41transactions per month
2:58pretty bad scale right here
3:02shows it rising but this is not a good choice for that just shows between 1
3:06million and 10 million
3:20per year

Bitcoin Market Technical Analysis
3:36gone from 10 million to
4:01ATM machine in California her first mover advantage
4:2150% since the beginnings in volatility has been coming down from 300 per cent
4:32very good to know
4:35accepted cachet
4:41Scandinavian countries and cohen et Las Vegas
5:03go into money laundering black-market criminal activity declined may not be
5:10ideal from a known cause of the transaction to public authorities
5:13including European banking system this behind the Financial Action Task Force
5:18have expressed concerns that big coin may be useful manner and money
5:23laundering in early 2014 an opera viewers Bitcoin exchange was arrested
5:28for money laundry so you can read up on I’m more of a market guy now I have
5:36actually never opened a clinic count or traded bitcoins sort of half my hands
5:43doing what I’m doing and doing quite good at what I do so there’s no need for
5:51me to look for alternative market currency traders this actually came
6:00cross my radar as far as Oh because is listing this is a major
6:06currency pair now so that piqued my interest a little bit so let’s just look
6:11at the technicals cause this is what I do
6:14technicals and we look at just the 5 minute chart for Bitcoin mean i think is
6:20college training now that may get me open up account right there
6:27traders were action is right
6:30so 5 minute chart here for sixteen and we’re down here for 13 14 15 16 23 call
6:46it tick range I don’t even know what they constitute but I’ll shorthand it
6:53for them from a trader perspective I want to put everything in takes
Bitcoin Market Technical Analysis
7:11today basically 416 and I can just look at this chart until immediately that
7:19they’re out goes trading this back and forth so they’re basically scalping this
7:26market right now
7:28welcome to the bot world but my markets and daughter in the Bitcoin market now I
7:35guess if they’re in regular markets but it’s pretty pretty funny
7:42scalping this market right now
7:47get further so the 15 minute chart right we 13 or call it for 1677 24 12 and this
8:04is just a whole lot of scalping going on one hour sure we can still see pretty
8:18much between 417 in 413 and this is just a boat’s dream wet dream right here this
8:26is just be sure this is what used to see when boat’s first came out into record
8:31markets reduction see this if there is a big econ report nobody wanted to take
8:39any positions or there was a very poor big head mean or something
8:45the box used to go into this five chick range in let’s say crude oil was really
8:54in the middle of bed was doing 80 billion get the S&P because while 26 is
9:01down about 12 ish that literally faerstein you have these really smart
9:07trainers the S&P back in the day
9:14but this is what this reminds me so the box have evolved in equity markets you
9:23don’t see that anymore and they and crude actually still in box first came
9:30out you do these five tic rangers it doesn’t do any more afterwards after the
9:36pic closes it will go on 22 32 rounds put these patterns etcetera but it
9:43doesn’t do these patterns like they used to after the pic close so the five hour
9:51on line 58 BTC / USD that the symbol for testing dot com and we see more this
10:07this gives us several days so
10:11so basically 417 though for 12 or 18 as high as we’ve got as low as 404 2718 got
10:38as high as 20 so just in this area
10:48let’s call it
10:52March 12 through March 26 we have a low of 40 floor to use around number and as
11:00high as 4 20 so putting tick range in my world would be like a sixteen tick range
11:13get the daily and we can see this goes back to January this year
11:23and is 375 now we’re getting somewhere that’s a nice bar
11:34375 24 25 so probably is at this point so fifty-point moved pretty substantial
11:48you can see right here
12:07so this is February right at February 03 6594 and it’s made just a nice run in
12:22this you can see similar patterns to other markets that sort of the beauty of
12:29markets you see a lot of the patterns across markets leaving something that
12:35almost in some sense different asset class than regular traditional markets
12:40you see some of the same patterns so this is what we call a retest in my
12:44world and put in a low at 374 and then just a nice is almost looks machine
12:51worrying when you see these kind of bars are so precise where you can almost
12:57drive rigid line markets when you see it that’s just very machine based you can
13:03tell it’s an automatic machine algorithm this perfect symmetry between these bars
13:10that they’re so Ridgid really reminds me when the machines really get going and
13:17my world so we have a high just a nice move here
13:26e right here
13:35365 to just really nice to have a middle line I like to draw the middle i me mine
13:47and that’s where it seems to be grabbing graphic taking back to this 415 ish
13:51level but some really nice moves and like a lot of these markets you wait for
14:00a huge callbacks and then you come in
14:02vest and I’d sort of watched it just in the peripheral and thought that would be
14:07s pretty good strategy to wait tell people just get liquidated out or
14:13there’s just a huge collapses in price and then you come in and buy this thing
14:17the one-week chart on this thing going back to late 2014 we can see the 389
14:33Delhi 348 still owe you get all the way down here for
14:42January 2015 and we have a low of 162 as I say again from a market perspective
14:53people probably got liquidated then tap and they’re probably not sure this is
15:02some kind of issues revolving
15:07exchange going out of business and not as far as exactly what date that
15:13actually occurred but there was something that caused this crash could
15:19have been bad or wired cent saying something about the Bitcoin orkut be
15:27china cracking down on search and search for various reasons were obviously
15:34somebody lost confidence in the currency and endured shakespeare technical and
15:41people get smash smash but it seems like a lot of confidence to get all the way
15:46down here to 162 and people lost a lot of money in this episode that you can
15:54see that you come in

Bitcoin Market Technical Analysis

Bitcoin Market Technical Analysis
15:57as always Warren Buffett’s if you have a lot of cash dry powder and indeed going
16:04to really pay off as you’ve gone basically from beginning to 2015
16:12battery test here 192
16:20August 2015 so radically that’s cool in China was crashing and get back on crash
16:36as well so interesting that China’s market effects Bitcoin so interesting
16:42there had this nice move
16:50high as 459 huge bar 2 9700 459 high with a close of 37 they look at this
17:08work on this seems people get stopped out of this market just like other
17:13markets a lot of profit taking
17:19I don’t know how this market is this fire is doing stops I’m not even sure
17:27people short this market probably I’m guessing
17:34after looking to add her there but seemed like the best strategy to just
17:45wait for epic collapses and confident and make sure it’s not that this is a
17:52completely illegitimate technology and everybody’s lost faith even the true but


Bitcoin Market Technical Analysis

Bitcoin Market Technical Analysis
17:58open it just the quotation issue where people just get smashed out the trade
18:03goes further than they expected so people get a little panicky and start
18:07cashing now there’s a nice n cheap line right here to get it
18:122062 portrayed as you get just the higher 293 seek just parked their song
18:26January 2015 by 6268 literally March 2015 you sell it to 9350
18:43so upward resistance and this chart the Hilux being 460
18:50late 2015 about the middle of December charge of this thing on a monthly basis
19:05just see we were so high this year is almost 700 back up here so as a pretty
19:25good news for currency it seems definitely right now that very much
19:35alcohol scout but that it makes some really good moves long-term basis and if
19:43I was to play it I’m not going to play it but if I was unemployed people if I
19:50was advising people who do play it with my market expertise would say just wait
19:56to the thing that collapse in crash
20:00and then come in and buy it with a long-term strategy but wait for crashes
20:07and make sure the crashes on TV is a completely whereas waste technology
20:11where we have invented something better so if we look at this chart just to give
20:18us a better this is Bitcoin charts and they specialize in this as an overlay
20:26bars just to give you some sense of how this thing is reacting to take the
20:36volume off some sent you can see that we are putting in
20:48look at it this perspective trend line where major pullbacks but we’re still do
20:58and some sense in a bullish trend you can interpret that obviously this is the
21:08scary part of this market any market that can go from basically a hundred and
21:14color 2012 away up to 1,200 and then back down to call 352 628 trend all the
21:32way down to this is probably this 162 area and then back up to your close to
21:38500 and then even out around this for fundraising let you live from here to
21:45here here here have a nice 400 level so
21:54makes sense that charter probably have better charts since they specialize in
22:00this actually like this chart pretty good looks like you have a lot of
22:04customizability with this thing but to play around with that you can definitely
22:11see once we broke out here that this became support level we broke through it
22:17but I sort of media speculation this thing by around there should be support
22:31around 200 that you should be able to make money two hundred but definitely
22:40want to stop that’s the problem is you know if it breaks
22:49measure stop it
22:56162 see what it does if it crashes through 162 and then you know you can
23:07always buy it back as it goes back up through your stop by stopped or just buy
23:13it outright as it comes back to you but you have to really do some analysis of
23:21why it busted through if it did but 162 is the thing little bit ago 20
23:27technology it’s just the in sin and it seems a little sketchy to me just my
23:42intuitive logics me know the red flag goes up in my brain there seems to be a
23:48lot of goals that raised red flags that it still has a lot of
23:59say is it’s not a perfect not a perfect instrument so in my world it’s like LA
24:07DTS and this reminds me of a DTF it just has some holes in the technology it
24:13doesn’t have its complete
24:15together as it were so that’s what toys raised when I would study
24:25myself that technology various aspects of it you know I would make a mental
24:35note that’s a little too red flag so I don’t think it’s beyond but I did see
24:45some possibilities if I was doing some great market stuff thought yeah that has
24:51a lot of possibilities and if I was doing so trying to get money from one
24:59place to another I could see some potential there as well
25:03from a market perspective it’s it’s just a trading market in you know people make
25:17a lot of money invested pinksheets so probably probably much better market
25:25then paint chips

Bitcoin Market Technical Analysis
25:27and I’ve actually traded pink sheet so in some sense it’s probably more legit
25:32and pink sheets so to put the overall market context but it’s not like I doubt
25:45Johnson and Johnson so that’s a good solid company that would be on your safe
25:50index meter way up there on one in the continuum and you put pink sheet stocks
25:56on the other end
25:59and this is probably a couple of notches above
26:02cheat but it’s still a crazy frontier market and basically in some sense your
26:11outright gambling oK so that’s our video on Bitcoin we thought we’d look at an
26:17alternative market on saturday and we’ll see you tomorrow

Bitcoin Market Technical Analysis