Bitcoin Pump Continues, $50k Almost Broken

Bitcoin Pump Continues, $50k Almost Broken

all right hey everyone welcome to another episode of trading bitcoin with your host tom base um all right is my camera not working hope it is it should be right oh what’s the other video not bad so did i mess this up again we should be good right hold on oh you know what i did nope we’re good to go okay cool um let’s go straight to the charts video and sound are good thank you um yeah i don’t know something weird uh but anyway uh it is the link that was tweeted out everyone is here and now i just need this and drive that to here and there and we are good to go all right uh let’s go through the bitcoin price things are pumping and we are to go take a look at the charts this is going to be a shortish stream i’m not going to spend too i can’t spend too much time on it so much work to catch up on it’s getting crazy okay so uh monthly chart i have not looked at the monthly chart in a really long time so uh let’s take a look uh the monthly chart is back up above its moving average uh i believe that should be the seventh period moving average what am i using on a monthly charts that is the seven period moving average uh we are currently back above it we have about 20 sorry we have about 10 days left in this month and this could be our second highest closing month ever and that is pretty damn bullish if you take this line and you move it across there have only been two months that closed higher than current month and that was of course march and april that is a very very bullish sign obviously both of these closed at approximately the same price and that price being 59 000 it is unlikely we will close this month above 60 000 but don’t rule it out is just an unlikely scenario weekly chart now weekly chart is looking great and the weekly chart has a lot more upside because we are only halfway through the mri trend so i would love to get to an mri top similar to the way we got to an mri top back in november of last year so this is a huge uh like five weeks in a row of upside each canada was pretty strong though the last couple of candles have been getting slightly weaker uh so we will see if next week uh will be another bullish week but for now this is looking great as you can see the higher we go this week uh the quicker these moving averages will cross and if we close this week above 50 000 which is actually pretty damn likely then the moving averages will cross over next week at the start of week so that’s a good sign and then the only thing left to have a full bull market indication is for this uh 20 period moving average on the weekly chart to start trending upwards and that may take another week or two all right here we go oh so yesterday in private q a we discussed the potential for a bitcoin hyperwave once again and it’s a little bit of a weird take because we all know tyler james’s work and that we had a hyperwave back in a 2017 the conclusion of a hyperlink and most people would probably be looking to set their phase one at twenty thousand but mark who is uh a big time student of tyler james um still saw it as you know maybe we start a brand new hyperwave and because the last hyperwave didn’t actually go all the way to phase one which means one thousand dollars what if we leave phase one where it used to be and everything that happened between 2017 and 2020 was just a phase two that got a little bit out of control that means that we are currently in a phase three and phase three i believe can last into the having and then a phase four begins and the phase four of course can go higher there are several concerns with this view is that would have been nice for this pullback to go all the way down to 20 000 because it would have been perfect on this uh hyperwave line or trendline if you prefer to call it that this was the steepest i can draw this line and the problem is that if we fall like let’s say we go and make a new high let’s say we go to a hundred thousand which is possible that’s my expectation we go to a hundred thousand uh this year go to a hundred thousand this year wow it’s actually a big move hundred thousand this year but then we have a pullback and if we come back to this line that could be very scary because this line is at 40 000 in april 2023 so an entire year can go by and we’re still back to this line or we go to twenty thousand and then we have this crazy uh two year bear market so we go to a hundred thousand then we have this crazy two-year bear market down to fifty thousand and then we shoot up i mean anything’s possible we’re just we’re just brainstorming some ideas of how we can fit a hyperwave because it’s very difficult to fit a hyperwave to current prices like i couldn’t do it uh i i it’s hard you can also think of phase three as being steeper like this which is also possible uh this creates a higher price of bitcoin way sooner and this is just you know a phase two but now we don’t like how they kind of cross and uh and then phase four would now start from a higher level going into the having so this would probably be like that just some brainstorming that we were trying to do yesterday okay daily chart daily chart is for for my style of trading daily chart is uh unfortunate that the green star isn’t coming till next candle but i’ve always said a one to four candle correction off the mri top and that’s exactly what happened i know the fifth candle uh the swing low but it was a very bullish candle so in the last two days the price of bitcoin has moved huh i thought it would be more 11 in two days it feels like more doesn’t it but hey 11 it is uh that’s how much the price has moved in the last two days and we are now back to a brand new swing high we are sitting at 49 000 uh which was significantly higher than what we had in the in uh about a week ago now we are coming up on some resistance but it’s not huge resistance and we also are just getting started in the mri trend and the weekly is bullish so i am very happy i am allocated 100 into gbtc and gbtc still has a very depressed uh premium so fomo is not even set in yet let’s look at the funding rate the funding rate is finally starting to to to favor the bulls but very very little there’s still lots of room to the upside here lots of room to the upside here so i want to say willy wood thinks the it’s the end of 80 plus percent corrections uh i don’t and i it’s very easy for me to explain why i don’t in fact i’m very confident there will be an 80 correction i am um people are saying how much is the premium on gbtc the premium is probably negative 12 negative 14 um i’m very confident that there will be an 80 correction and the reason why i’m very confident is because coins coins are not dying they’re thriving and because coins are thriving and they are pretty much scams uh they need to get annihilated and the best way to annihilate the coins is an 80 bitcoin correction not an 8 000 bitcoin rise so because people have not learned their lesson there needs to be another purging of uh of the crap in the ecosystem and that purging is only achieved when bitcoin corrects 80 to 90 so the lower you see bitcoin dominance as bitcoin rising like the rising if the rise in bitcoin is causing bitcoin dominance to fall that means an 85 correction is coming and i will bet willie on that uh if it comes down to it but uh i’m tired of betting i’m betting too much uh but uh yeah if that’s his view i will take the opposite view because of coins that is my only reason for that i don’t want bitcoin to correct 80 if bitcoin right now if bitcoin dominance was at 75 right now the bitcoin dominance was breaking to new swing highs at 75 i would agree i would say there will not be an 80 correction but because of this there has to be an 80 correction i am about 80 to 90 percent confident there will be an 80 plus percent correction views on binance mandatory kyc news i don’t really care i don’t really care binance i don’t i i i don’t like binance because they have a coin they have a scam coin so i’m not interested in exchanges that were funded by a scam okay so daily chart on the oscillators it’s a little overextended it’s a little overextended but and it’s coming into resistance but i’m still bullish and i’m 100 invested in gbtc and i got in on that back here so my traits have done well well i i added to my trade back here short-term chart the one-hour chart is on an mri top so what does that mean uh that means that we should probably slow down uh hold our horses right here we had a swing high come in at 49 100 an hour ago and well half an hour ago and we’re still rising right now but i wouldn’t rush into a trade this hour i would you know take it easy about the four-hour chart that might also be an mri top yep here it comes we are on an mri warning and an mri top is coming so this is not the time i would enter long trades long trade should have been entered way earlier in the day yeah this would have been a little bit tricky i don’t need this line anymore so look at the last time we had an mri top on a four hour that was a pretty nasty correction eventually bottomed out after falling how much eight percent so i i i wouldn’t ignore the samurai top and it’s coming out in the hourly so this is not the time to go long uh maybe tomorrow let’s see if the four hour gives you a one to four uh candle correction we look the dominance gold i’m waiting for this line to break you can make this line you know more precise once this line breaks i’m back to bullish on gold alex b yeah i’ll take a look at that stock oil oil still looks bearish uh might be a nice pickup on an mri buy on a daily chart it’s still working through its monthly it had a monthly mri top look how perfectly the monthly mri top called the top and oil absolutely perfectly so now we are one to four month correction and uh eventually high or about the weekly uh the weekly still says a few more weeks yeah so the daily is coming up but the weekly still says more downside so i would i would definitely stay patient uh so this structure right so the monthly has a one to four month correction the weekly still has four weeks to go before an mri buy opportunity and the daily has about four days to go until an mri buy opportunity so i would consider the daily mri buy as a one to four candle swing trade and if this thing keeps falling down into the 50s on an mri buy that’s definitely a buying opportunity for a potential one to four day correction maybe more but then the weekly could drag it down even further so i am definitely bearish on oil uh with the potential to uh pick it up uh for the daily mri buy smp look at that beautiful bounce snp uh textbook mri top right here absolutely textbook mri top uh this is great uh you know what i keep forgetting um hey we’re on sale understanding bitcoin is on sale uh talking to more speakers uh we’re gonna get them i’m gonna contact all these speakers just make sure that they are good with the new dates um october 14 to 15 at atlantis uh we are good to go uh here is your standard ticket this is two days uh two full days only 50 seats available uh same thing for the carnivory dinner only 50 seats available you don’t have to go to the carnivorous dinner uh if the price is a little too much and um uh and the same in the or you could go to only carnivory dinner i mean you i’m not going to stop you uh if you don’t go to the conference but you want to just attend the dinner with the speakers uh so the reason why uh the carnivory dinner is 200 and i’ll tell you guys is because the approximate cost per person for a carnivore dinner is a hundred and i don’t want to charge the speakers for the dinner so uh those that are attending the carnivory dinner are subsidizing the expense of the speaker so it’s generally a speaker dinner uh so speakers don’t pay for the dinner so those that want to attend the speaker dinner uh subsidize the cost of the speakers to attend there so i’m fairly open and transparent i don’t expect to make money on this in fact i’ll probably lose uh but there you go please come out and support us in dubai all right back to the charts yeah atlantis is not cheap at all it’s a nice hotel though very nice i’m still in miami milton i think i know who you are investor milton you know st milton we’re hanging out in dubai last time yeah i’d love to see you back there all right so the s p 500 uh it’s bullish uh we have a daily mri top inside a weekly mri top on the futures and the one to four day correction is over we’re now rising back up we’re above both moving averages and that’s a great bullish sign a very good bullish time we’re about the cash smp uh the cash snp uh next candle could be a green star candle and yep i still think the s p is heading towards five thousand dollars five thousand points and it can get there this year inflation helps the the rise in the s p guys keep that in mind inflation helps the stock market all right i need to look at a couple of stocks uh yeah yesterday during private q a or right after someone asked me to take a look at this coin and i mean the mri is still bullish on it uh the mri is bullish so it’s got room to the upside eventually it’s going to zero it depends how good their advertising is if their advertising is better than ethereum middle rise jimmy had good articles about that how it’s basically all of these coins it’s proof of news i mean there’s nothing else there’s nothing unique there technologically and they have no mining because it’s a proof of state so it’s just proof of news uh there’s no decentralization there just proof of news all right ar supposed to look at ar see what’s going on uh that’s not the right company airwaves is there another ar aero wave oh it’s a coin i don’t want to look at this it’s only trading on hobie and bittrex i mean this is a scam it’s a scam by default it’s a scam by default i’m not looking at it you guys have fun i will look at ar look at they are see this is what i’d rather trade uh look at a beautiful mri top weekly along weekly mri top along with extension b beautiful beautiful and now i’m bearish on this under stock i wasn’t sure it’s an 11 stock what about the data daily is coming up on an mri buy the weekly remains bearish though yeah we can look at tilray so i’m watching tilray for a potential mri buy coming up but i don’t like the double bottom here i don’t even know i don’t know what this lines for so here’s the daily till ray mri buy is coming and the weekly mri body is coming so there’s lots of good things happening here until right so next week i would love to see a spike down to like 11 and that could be a nice buying opportunity until right and we also let’s check out jmia another one beautiful weekly mri buy coming up there’s lots of opportunities coming up guys and the market is turning bullish overall i like it what about the daily the daily is an mri buy today i don’t like buying things on fridays but you can’t deny this i wonder if my friends got it i messaged them this stock yesterday about to find out did you guys buy jmia today about to find out they say anything i messaged them yesterday but i’ma find out if they got internet we talked about this yesterday on the stream public or private i remember the private stream’s going to be out this weekend all right so they asked me to take a look at why mmm i’ve never heard of this the nice samurai buy though this would have been a little bit concerning beautiful mri cell one two four candle correction held the support line and guess what’s happening now we’re going up we are going up oh and this was a nice an ipo did this ipo fall 50 like the tone vase strategy beautiful look at that as usual you guys have watched me enough ipos you wait for that 50 correction and it came with an mri buy nice very nice yeah i’m bullish here i’m bullish here i’ve never heard of this thing i’m looking at it for the first time but i mean that’s how you trade ipos or someone told me about this earlier would have said the same thing at the open like within a couple of days you know if this thing is going to be going down 50 or not and one more cbre what is this oh don’t tell me that was an mri buy yep yep did they get in i got this text at 9 36 in the morning mri buy today hope they got in hope they got in they were watching i didn’t know about this beautiful beautiful yeah so we’re gonna have a service where you can like put in a bunch of stocks into our portfolio and it just notifies you whenever your portfolio is hitting like these mri buys right guys uh don’t forget understanding bitcoin is on sale uh for dubai in less than two months in less than two months it’s only open to 50 people this would be a small intimate event lots of good speakers lots of good presenters and it’s all about educating you how to use bitcoin that’s what this conference is about we’ll have some good panels please watch the videos from last year uh they’re all right here these are our videos from last year wow 2019. we did this back in 2019 april 2019 when we did it uh please check it out and we will do more of this this year okay also sponsorship opportunities if you have a company and you want a sponsor there’s a couple of sponsorship opportunities available and of course the financial summit the financial summit is happening a few weeks after that november 6 to 12 and russ salkaima uaes the same airport the dubai airport where you’re flying into uh check it out it’s another amazing event for traders and hedge funds all right uh here’s my calendar what is my calendar here’s my calendar i will be in saint louis it’s actually just outside of st louis uh but uh again you’re flying into the saint louis airport uh so you can catch me there um i don’t think i think it’s just a free event i mean you just come down they’re opening a crypto world it’s like a store and uh friends of mine we’re gonna be hanging out so come through st louis say hi uh if you’re there and then i’ll be off to texas for big black boom that is my travel schedule i’m off to st louis uh tuesday and i’m currently in miami but i have so much work to catch up on so i doubt i would be seeing anyone if you guys have not seen these short two minute clips from the san diego uh like parents uh trying to make sure their kids aren’t wearing a muzzle uh preventing their breathing in schools uh you absolutely must this was so awesome i tweeted out this link uh just check it out check out these uh two minute clips i haven’t even gone through all of them myself but the ones that i went through are freaking incredible absolutely incredible like it just gives the world some hope uh because it’s really going down the mempool is empty still which is great and that’s it uh that is it guys those are all my announcements uh thank you all so much for watching and i will see you all on the next one bitcoin is still doing amazingly well but as a recap the four hour mri top the one hour mri top probably not the best time to buy in this hour uh you may want to wait till later in the day but i am looking for a top see this is tricky actually the mri says this thing is going to keep going to the moon but reality says we should have a pullback about 50k so i’m thinking we get to 52 53 000 and then pull back to maybe back to the 200-day moving average but i can’t wait for all these moving averages to cross back over and uh that was the low uh that was the low i was uh expecting it to get to maybe 25k but of course i was bullish off the mri buy and while i was only looking for a one to four candle correction and then probably more downside this is why you re-evaluate after four candles and it just kept going so when we look at this at the end of the year we will see the perfect mri buy reversing the market to new all-time highs and those that are interested in the mri go to products and services mri indicator one-time fee there’s also on-demand educational videos on trading the risk management is a must and of course there is a free learn trading section for those who are just starting out and interested in trading all right guys thank you all so much for watching trading is risky you all know that and i will see you all on the next one bye guys poker game last night went well well well one one twelfth or something i’m gonna be i travel with my own lovely with like polka chips so one of these days i gotta start posting more like these just private games it’s a lot of fun bye guys
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Bitcoin Pump Continues, $50k Almost Broken

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