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[Music] hey this is David for pig bits and in this video we are just gonna do a quick simple update it’s gonna be a pretty quick video for the most part and then at the end of it we’ll do some technical analysis on some of the charts it’s been a while since I’ve been able to do that I’m recording this a little bit earlier in the day so prices might change between now and then but – the important thing that you’ve probably noticed when you saw the title of the video I am doing a giveaway it is going to be a $25 Bitcoin giveaway so if you’re unfamiliar that’s just gonna be $25 worth of Bitcoin sent to a selected winner now the contest it’s gonna be hosted on gleam you can see that here I’m gonna be adding other entry methods as well it’s gonna run for a month I know it’s a long time for just $25 but I only have one and a half thousand subs so we’re just getting started here and it it’s really just to reward the people who are watching so definitely make sure you’re watching some of the questions you get more entries if you’re actually watching and you know what’s going on I just posted a video for this the other day I might up the entry values for this one before I even post this video but I’ll be adding more like this and some other items so you’ll be able to have more entries and a better chance to win if you do things I’m also going to be adding let’s see what was it yeah submit a URL so I’m kind of looking for ideas for videos and you know I have plenty that I can do I like to do videos about things that you all like so if you want you can submit a URL of an indicator or a strategy you would like to know more about now this could be particularly indicator you use or you could have me look into an indicator that you just don’t understand maybe it’s something somebody else made up and we can actually look at the source code I mean if it’s just something completely random and there’s no access to the source code and I might not be able to tell you how it’s been how its put together but if you find an indicator and you want to know more about it just let me know or if you see a strategy out there I am looking at the potential of making a video where we take a strategy with multiple indicators and we break it apart and put it back together in trading view as an indicator itself or even a strategy itself in trading view so if you have something that works in forex or something else on another website that you’ve seen and you like their strategy and you want to see us on this channel recreate it then submit that here and of course there’s all the standard things just to try and get people to come into the channel but you’ll also notice I do have a blog now and as web sites actually been up for a little while I’ve just been tweaking it and kind of getting it ready it’s still far from perfect this is kind of a sad hustle for me but you’ll notice I do have it up the blog works there are several pages there’s even a little shop here that’s hooked up for some ecommerce stuff I’m not trying to push that on you so don’t worry about that a lot of this is just me having fun setting up all my tech stuff that I like to do so if you like these things and that’s fine you will notice actually on the shop that’s where I got my hat that I’ve been wearing and in some of the videos and you’ll actually see that hat again because it’s in some of the videos I’ve already record it that are gonna be coming up and this is really slow it’s on some shared hosting right now like I said we’re small right now so it doesn’t really matter if I need to in the future I’ll bump up the hosting so it responds a little bit quicker we can see I had this snapback hat that was the first thing added to the store so I just tested it and I bought that for myself I really enjoy it I’m not really a fan of the snap backs generally but works pretty well when I’m having bad hair days I just toss it on before I make a video so I don’t look good like too much of a goober all right that takes care of the giveaway stuff so if that’s all you were here for just look in the description of the video there should be a link and while you’re down there please like the video and subscribe those things really helped me if you don’t want to do this completely fine if you just want to stay around now for the technical analysis that’s great because there has been some good technical analysis here lately when you look at the charts and if you’ve been following my training view profile which we almost have a hundred followers now which is pretty cool okay five hundred and thirty-four likes these are the scripts but I posted to new ideas recently and one was a short for Bitcoin the other is a long for light coin and the the short on bitcoins looking really good right now if you look at the prices I drew some lines on the chart and pretty much everything lines up with that and you can also see these usually when I post ideas on trading view they’ll also get posted to my Twitter so please follow me there if you want to see those if you don’t want to follow me on trading view and you just want to see the ideas just follow me on Twitter and you can get those there now I’ll go ahead and explain what I did on these ideas here and let me actually get out of the chart and go look at the ideas themselves okay so this is my first idea that I posted recently and that was that Bitcoin was looking south on many indicators it means the price I thought was gonna go damn the reason for that there’s a lot of reasons and I know there’s a lot going on this chart if you don’t understand and why I have so many indicators on here I usually don’t use this many when I’m looking at a chart but I think they were all painting a pretty clear picture of what was about to happen that’s why I included them all now the first thing you’ll notice the green 50-day moving average was touched here rejected it was almost hit here but it actually just rejected from the top of the Bollinger Bands and not only that with the volunter bands we were losing the midline this kind of red line here on the Bollinger Bands and typically when the price goes on one side or the other and then it kind of continues to trend in that direction so I could go under the midline it tends to stay under the midline and continue going down and vice-versa for if it’s above and when it looked like it was going below it and that was just another signal now it held that particular day and it held the next day but it actually did break today the other thing the stochastic it definitely had been up in a higher range now this wasn’t completely overbought but it wasn’t a higher range and you’ll notice on the daily chart here for the last several months it hasn’t gotten up that high anyway so it had been up here for a while and it already crossed down and not only that that’s the stochastic RSI had already crossed down quite a bit and that’s usually a pretty good sign that it’s gonna continue to go down now before I go on to the other indicators I just want to flip back to the chart and show you I kept those lines on here and you can see they pretty much follow those lines exactly when you look at the chart enough like I do you’ll be able to see or anticipate what’s gonna happen with the price and what’s and the impact that’s gonna have with the indicator so if you understand how the indicators are built and how their calculations work you can understand how they are gonna move based on you know the candles in the past and that’s why we did the forecasting in some of the tutorial videos if you haven’t seen the forecasting tutorial videos I definitely recommend you check that out because that explains the impact of the previous candles that are being removed from the calculations and their impact on the upcoming candles now it was a bit of a mouthful but this moved RSI which is another indicator I wrote it’s available on my Scripps Public Library on tradingview it crossed down and the direction of the smooth value trended down here so it seemed likely that it was going to go down and then of course we had the potential MACD crossover here and I qualified or justified this idea of going short that you know we’ve been going down for like six months in mid coy night I justified this basically just because all these indicators but also by saying it’s gonna be a short-term trade the price I believe was going to go down to the bottom of the Bollinger Bands and at that point it was going to decide if it was going to continue to dump more or to switch and reverse trends and we’re going to find our bottom back here so let’s take a look I actually discuss that here if the daily MACD crosses over and it continues to go down then obviously we’re looking at a very negative trend what you’re hoping for and what I pretty much mentioned was that for the long-term bull case is that these indicators kind of reset which basically if you read the idea that I posted is the indicators have their values drop on very low price action that way when the indicators are at these oversold values the price had actually moved up and you’ll get this divergence so the price will be moving up and hopefully that’s what we’ll find is a higher low here and the indicators will all be low meaning that it’s going to be more likely that there’s room on those indicators for the price to go up so you’ll see here this one went down on somewhat significant price action but when the indicators move down here on very little price action that could be a sign that price is gonna reverse and back up and you’ll notice it did that here and that’s kind of what we’re gonna have to hope for if we want Bitcoin to shoot up in price and change trends on this direction that it’s been on we’re gonna have to hope that the MACD kind of does a fake cross over here and shoots back up on the next candle or so or very shortly after otherwise these MACD trends tend to escalate you’ll notice here there’s crossover and price continued to drop down and it continued to go it does happen often you’ll notice here there was a fake MACD crossover and also here there was a fake MACD crossover but yeah I’m making sure my head isn’t in the way here because I do that sometimes so we had those fake MACD crossovers here but if you look back here this was pretty genuine one as you can see the price continued to go down in it it’s a genuine crossover here then that’s something to be concerned about if you’re hoping for this to change directions let’s go back to the price here or the actual chart excuse me in the live chart you’ll notice the MACD didn’t decrease as much but if you understand the indicator since the price is now lower it’s actually harder for the MACD to drop that low because it’s a difference in a couple of different EMAS so it’s the lower the price gets the less volatile this is the less down or further up it can go but while the price is increasing let’s go back here you’ll notice the price increased and it was above the current price it moved much more in an absolute term than it did here and then I got my head in the way after I just talked about it like I said when the price was up really high here it moved more in an absolute term than it did here that’s all there is to take away from him now let’s see what else was there there was also the other idea that I had posted did litecoin still long in the weekly this is a much smaller position that I would take and that is looking at white coin on a much larger time frame and that is the weekly cannon right now on the daily chart at this particular moment doesn’t look very good it it’s pretty much just like Bitcoin was yesterday except the price is already moving down we switch this back to the weekly chart okay this is back on coin base now a lot of the reasons I was selling Bitcoin and not too keen on litecoin right now is because these particular indicators were going down and they were still relatively high so they had plenty of room to go down whereas on the light coin weekly chart here they’ve been down for a long time they’ve got a lot of room to go up and there’s the histogram on the MACD is getting much smaller okay that means these lines are getting ready to cross over and of course there’s always the option for the fake out but on the weekly chart it’s a lot harder to fake out on these crossovers so if it does cross over that’s gonna be really good and part of the strategy here I originally posted this idea back here when the price is like 58 dollars is that I said it was a good time to accumulate and that’s what I’m kind of doing in this position just gonna accumulate over weeks and hopefully we get a nice bump at some particular time and it takes care of itself this is more like investing or swing trading as opposed to day trading like a lot of people would expect this is on a weekly chart so you got to be patient I’m not too worried about it so just keep that in mind I’m not a financial advisor so don’t think that is actual advice these are all just ideas for fun but I did actually buy some white coin back here and I have continued to add in down here hopefully what we’ll see is something similar to this where the price causes stochastic to go well below and stay below for a while as you can see it can continue to drop the price considerably the longer it stays down there but you saw a nice rally here and as you dollar cost average down during this time hopefully you can exit with profit when those Decatur’s come back so that’s the ideas on that I want to take a look at a couple more let’s take a look at the litecoin ratio this is on the weekly chart it’s kind of in a similar situation versus Bitcoin the one issue is it fell below prior supports from the last couple of years here really not much below it here all the way down to point zero zero three two on the weekly chart now it could go down there versus Bitcoin and it doesn’t even mean like ones price and USD has to go down it could just mean that the Bitcoin could rally really hard and litecoin not so much and it’s compared to versus Bitcoin would go down although we do have the positive MACD crossover now this could cross back down but a lot of times when you get these crossovers that are this low a lot of times the price either continues to stay in a neutral area or it continues to drop somewhat or even come up slightly and so it stays within a fairly tight range as the MACD continues to trend back up towards this kind of neutral area here and then a big move will happen which will kind of determine the next direction of it for a major trend let’s see the smooth RSI appears to be flatlined here and that’s a pretty good sign it’s been low for a very long time and you’ll notice it hasn’t really done that in the past it did do it here it’s pretty close to actually here so if if the pattern kind of repeats itself we’re probably about this far into this particular segment and we could be due any one so something to keep an eye on there as well let’s take a look at it on a daily chart though I believe it’s not doing too well either yeah they’ve kind of turned around they look like they’re heading back down in a similar shape to its USD symbol as well so let’s take a look at theorem vs. US dollar same situation is like coin charts pretty much looking exactly the same at it in the price on the y-axis everything appears to be headed down for a short period of time unfortunately the way the chart looks it looks like you might be making new lows within the recent timeframe here at this trend so that’s not very good let’s switch it out to the weekly and this is actually a little bit different than litecoin everything is still kind of trending down MACD is down smooth RSI is continuing to go down sarcastic is well down and sketchy RSI is down now may not be a bad time to accumulate like we said with litecoin but in the short term on the weekly chart it still doesn’t look incredibly good but like I said if you believe in the project then certainly at the end of these lower periods on these particular indicators and especially the smooth RSI this is a good time to consider accumulating and dollar-cost averaging for a chance to take profits a little bit later now let’s look at its Bitcoin ratio and here it is on its way down on these indicators MACD looks like it’s gonna cross down potentially although it’s really tight price has been moving down fairly steadily versus Bitcoin and it kind of looks like it’s going to kind of stay in a tight range at least for a little while if not moved down so not looking too great there let’s move on looks like XRP a USD chart I need to choose another exchange there’s not much history there on coinbase it’s good Apollonia they have a lot of history there so it looks like it’s kind of testing support back here if you’re not familiar with support and resistance are it’s pretty basic concept definitely googled Allen but a lot of price action here which means there’s a lot of people in positions there they might want to defend it and that’s kind of what’s going on these indicators are already down the momentum seems to be slowing down on them although that doesn’t mean a whole lots to cast or the smooth RSI is still going down and the MACD is still going down so we could test the lower range of that support or even lose it entirely that’s yet to be seen let’s take a look at its Bitcoin comparatives here and let’s see that was from a previous idea I’m gonna go ahead and delete that stuff see continuing to go down it appears like and a potential MACD crossover but it does have some support down here in this particular range so as it looks like with a lot of the major alts they might be in a good place to try and accumulate verses Bitcoin back to one of my favorites basic attention token C finance I think it’s the most history on it this is a weekly chart not looking too great on the weekly chart although the MACD is still continued to trend up you’ll notice the histogram is kind of stalled out here and the CICC a stochastic RSI are losing a bit of momentum here so want to keep an eye on that there’s really not much support below where it was before so really have to keep an eye on how it’s it’s going but the daily doesn’t look so bad I’ve been looking at it quite a bit I followed it all the way up to the 30 or the 3000 satoshi range and then of course in a double top came back down underneath of all of the moving averages and now it’s went back up above them all it’s going to have to pump considerably to keep the 50-day moving average from crossing under the 100 and it looks like the stochastic RSI is turning down but the stochastic is still up fairly high so we could continue to move upward and a range here before there’s an actual downtrend for a little while but not so certain on that one look at its USD price now it follows pretty well with the Bitcoin price although it did be couple of it here and went up considerably the last few days it does appear like it might be moving down on all of the indicators here so not necessarily the best there was some support back here so we’ll see if that holds if it comes back down again but it’s awfully bearish with the moving averages all below each other here in order now let’s see don’t think of another one here that we would like to do sometimes I do stellar and I don’t even know why I do it it’s not even that gracious for a chart to look at but here’s the daily chart versus Bitcoin for stellar it’s actually moving up on the siq astok all those subcategories has lost momentum towards the top here MACD is moving up smooth RS is moving up this might not be too terrible to take a chance on although you’d want to have a pretty tight stop-loss below it just because there’s potential for it to find new lows yet again on the chart and not very far below where it is either you I want to see this one versus the USD as well let’s see finance yeah so it’s pretty similar except on the USD chart it looks really bad a it kind of reminds me of the etherium chart where it kind of tanked bounced and it looks like it’s gonna go back down again as they’ve all kind of turned down here I’m not really looking at the Bollinger paying this too much right now they’re not really too important I’d typically only look at those unless were in a range so in case you were wondering why I’ve got those hidden even though I use them in the idea earlier um let’s see what else do we have here I want to do one more at least and I know I forget some of the major ones sometimes give me just a moment look up something really quick ah B&B that’s a good one to look at let’s look at it versus the US dollar first yeah it’s like all the other alts we’ve been looking at versus the USD it looks like it’s about to go down and looks like it could go down quite a bit there’s not a ton of support until bending around $10 so let’s look at it versus Bitcoin to see how it’s doing there seems to me like B&B really needs to have finance come out with some more ayios for them to have a good good time here soon but similar to its USD chart it looks like it’s getting ready to go back down versus Bitcoin here they all look like they’re wanting to turn down of course this is guaranteed but that’s what it’s kind of looking like to me it looks like it’s about to go back down if it has support it’s down here somewhere in this particular range around 15,000 something satoshis so might be worth another look back there let’s look at it on the weekly though see if it’s any better not really weekly doesn’t look that great not at all so yeah I definitely think it’s probably gonna revisit the the support here but who knows let’s take a look at it on the weekly for the USD chart this one’s not so bad this reminds me of the other charts where I said it might be an okay idea to start accumulating in now if it does find support in that range then it’s definitely not a bad idea to dollar-cost average in because there’s not much room for it to go down if that’s where it finds support so I think that’s gonna be all for the video make sure you check out the giveaway $25 giveaway I do have three videos already recorded that are gonna come out next week now those videos are going to be one after the other Tuesday Wednesday Thursday of next week and they are all going to be related it’s kind of like a miniseries within the development series and I’ll actually show you what I’m doing here let me add an indicator here my scripts scoring development this is what I’ve been working on and let me move it up I know these charts are getting awfully small now and then let’s go back to Bitcoin now this particular indicator is trying to help us find a good time to buy by combining multiple indicators so for example I believe we are using the stochastic and we are also using the RSI to determine the optimal time to buy by using a point system so the lower these are and the longer they are that low the better opportunity it is to buy now it was a really bad bear market here so it’s kind of hard to tell there so it’s not really meant for that kind of stuff but if you’re trading within a range maybe on these hourly charts it works a little bit better and not really not really there but the general concept is you’re taking these indicators and you’re combining them for a point system you see it worked really well on the three day chart here and it kind of worked well here it’s just like any other indicator you’re gonna find out what you’re looking for but basically the main thing is we’re looking at multiple indicators we’re combining them into one we’re assigning them points and by assigning them points you’re essentially giving them a confidence value so the lower the RSI is the more points that was worth okay so that’s why it had more points here and the longer it stayed below a certain threshold it got even more points so that’s why I continued to go up and not only that we discussed some other topics within that such as for loops and actually explained some of that there’s a couple other concepts I can’t remember what they are right now but those videos are gonna be posted soon and I already have another indicator ready to go and if you have any ideas please comment below and let me know what those might be and I think this videos probably went on a little long but I really appreciate everyone watching and thank you have a nice day [Music]
