YouTube Video Transcript
hey this is day four big bit saying welcome back in this video I’m going to touch on several things really quickly but most importantly is some technical analysis on some of the markets right now not gonna go in-depth a whole lot today because there’s a lot to cover I really want to talk about the channel just a little bit and then also I want some feedback from you all on some new intro videos to the actual videos we’re doing here on the channel because know I’m kind of getting kind of tired of the one that we have and I have access to more so I figured we try some out and see if I can get your opinion on that I think I’m gonna put a poll up in the video and let you all vote on that and I’ll come back and check and see what you all think and I might alternate between them we’ll see but anyway the channel is doing really good we’ve gotten a lot of views specifically over the weekends lately it’s been really good I’m really happy with that I post that there is an outside chance that we get to 2,000 about the end of the month and that’s just insane for me to think we’ve got a lot of a lot of stuff going on here I’m working on a lot of things to improve the channel and get things working better but there’s been a lot of work and contact with people with other organizations who are actually communicating with me on things they would like to see as well so that’s good to see that these things are moving along as I would have liked and as far as the technical analysis goes I’m gonna be pretty quick but hopefully you’re following me on Twitter and you’re subscribed here on YouTube but if you follow me on Twitter you would have seen this tweet where I talked about how the SP was getting ready to touch the 50-day simple moving average and that this is in an ascending wedge you can kind of see my red lines here and that I thought it would be a good time for a short now if he followed me there and if you also looked at the chart and you thought the same way then that would have been a pretty good idea because if we look at it now you can see the tweet was about here pretty much right top and then it went down pretty much immediately after that now I’m going to talk a little bit a little bit about the SP again in just a moment but for now I’m going to switch back to just Bitcoin and we’ll zoom in here now if you haven’t watched the previous videos these red lines these red squiggly lines are just some lines that I made as sort of a dream scenario for the having this tall red line is the anticipated date of the halving and I was hoping this price action would occur up until then and that that would lead into a very good scenario for a pump in price immediately after now that’s pretty pretty pretty well pretty much I can’t even think of the word right now this is incredible to think they can do that I mean that’s too much in my opinion I don’t know why I can’t think of the right word I just can’t but that’s probably a bit too much but who knows this is an event that only happens once every four years but let’s also go back and take a look at these indicators here you can see I also do the lines on here the stochastic I had it kind of hanging out around here now what happened was the price was it dropped like I expected but it actually went back green a little bit quicker than I would have liked to lined up with this but everything else seems to be lining up pretty well on these other indicators for what I had kind of predicted and well more so wished for than predicted but just looking at the chart this was what I was kind of seeing could happen and would have been what I would have enjoyed to see now this is completely fine the siq astok is a little bit slower typically than the stochastic RSI so what also might happen in my opinion is that both of these come down to oversold territory stay down here for a little while pop back up kind of like I have here and then come back down and then back up again that’s a pretty common pattern you can see that similarly here the indicator goes up comes back down back up and then back before it goes back down so these are two ways these things typically work in a pattern you can see going back there’s usually two bumps up at the top or you know two bumps up at the bottom so you hit the bottom here you hit the bottom here again rarely do you see that it’s not low like that for extended periods based on what I can see so this is kind of what I’m thinking still now I want to go to the SP just to show you all what I was thinking over there just a moment then I type that in wrong I should have remembered is the SPX 500 all right so my lines aren’t right here but we’ve got something similar here with the SP with Bitcoin is that you have this kind of double touch here at the top with the siq astok RSI and then you also have the stochastic which is turning down and I typically don’t really work with these more traditional markets like with the SP but I have recently opened a brokerage account and I’m trying that stuff out so I am taking a look at that stuff now now the smooth that’s RSI now this is one that I am very interested and this is my indicator that I created on trading view and if you haven’t been watching the channel you should go back and look on the videos here I do a bunch of tutorials on creating your own indicators you check out my profile on trading view the links in the description and if you consider a paid plan eventually please use the referral link in the description the video as well now as far as this indicator what I have been noticing lately is that the smooth histogram has actually been a little bit better other predictor and when a trend is about the change then the actual RSI direction now usually when they both pair together that’s when you’ve got a really good trend change so like here when the price went down and the histogram or the RSI went down excuse me and the smooth histogram went down that was a nice correlation that probably would have been a good short when it crossed over from positive and negative territory however here when we went from negative to positive the smooth RSI line itself stayed relatively flat so that one would have been a pretty hesitant move to actually make in my opinion and I probably would have not got back in on any of these but what I am looking at now is that the RSI is about to switch under the smooth dar si and at the same time the smooth histogram looks like it might be getting ready to turn back down and potentially go negative as well so it might take a couple of days do that but I’m watching that pretty closely and with the moving averages I showed you that’s actually pretty important to keep in mind where you set these defaults okay so there’s that 50 period moving average we were talking about earlier that I’m watching out for I’m not really gonna go into altcoins or other markets or stocks or anything like that basically Bitcoin and the SP you’re pretty much just about all you need now there’s other ones you can look at but for me that’s all I’m gonna look at for now I mean of course if you have any questions please always leave me a message to try and get to you but everything’s getting a lot busier now I’ve gotten a lot of messages lately I try to keep up with all them and if I haven’t been able to I’m sorry about that but between the coronavirus and the kids staying home from school having to do their homework here my day job and all these other things it’s it’s getting to be a lot right now so I can’t really prioritize these conversations as much as I would like to or ever I have but we’re still trying to make content here and keep things going so the March dev blog also came out for light night now I did a video about this yesterday I hope you saw that we went through the actual gameplay that they released on their rig well their first release of the single-player it’s pretty much just a demo what they did but it was really nice to get the look and I’ll go over this in detail another time and another video probably later this week and probably look a little bit more in depth at the actual game itself now as far as the news this is what’s really important to me and I think it’s probably important to most of you all and it’s this is very big I’ve covered the central bank digital currencies a lot closer than a lot of major channels on YouTube have I am very much intrigued about what they’re doing here this is gonna have major implications on how society works I mean this is your money this is pretty much the most important thing you have besides your family and religion for most people it’s it’s very critical to most people so it’s very important that they get these things right now China they’re gonna be pretty much one of the first major countries to test out their cryptocurrency well maybe not cryptocurrency a cbgc and they have leaks some screen shots of the app that they say would be the wallet for it but what’s really interesting is that this just isn’t some random person who tweeted this this is actually an executive director for finance and then also cz that finance CEO also retweeted those later and obviously I don’t know Chinese so I can tell you what’s going on here but if point telegraph is reporting it I tend to believe what they’re saying especially if cz and the other person were involved as well now they’re doing this in four cities and if you remember the Bahamas CBD C test that they did was I believe on one Island so this is probably actually a much larger test now if you’re not familiar with China some of these names aren’t too familiar but Shenzhen is probably the most familiar out of those at least to me because I get a lot of I’ve dealt with a lot of packages from there in the past so Shenzhen is definitely one that I’m familiar with it’s interesting to see that in here and they’ve also talked about another one that’s pretty more technologically advanced sort of like a super city and they’d say a smart city brain project here but these are all pretty interesting they were marked on the execution speed of China seat is seated and I will say that it is coming out very quick especially for a very large country like China it’s very important that they at least get the most fundamental things right here and there cannot be any bugs on the first go-around otherwise they’re gonna have a huge mess now if they get a very simple system out there that’s bug free which it’s hard to believe software would be bug free unless they’ve done very extensive testing but their government kind of lends to actually being able to do this quicker and then post just because they can pretty much tell you what to do over there and force you to work on these things and force the execution of them much quicker and if things don’t work out they have pretty much all the power they can do whatever they want they can scrap it start over again do whatever they want so this is software anyway essentially so what you’re gonna be looking at is even if there are limitations they can’t upgrade it later like Bitcoin like aetherium like all these other blockchain projects it’s just software they can update these things and add changes into it now with blockchain it’s a little bit different because people have to consider the ramifications of those now if you’re a government doing a cbgc you can pretty much do whatever you want as long as you get it passed through your your legislator or your equivalent of that and whichever country you’re in so it’s really interesting to keep an eye on this this is definitely one of the big big things in this decade in my opinion are these CB DC’s and specifically China getting out of the gate quicker than everyone else now they’ve also set up a committee for some of these blockchain and DLC standards which is actually good news these are the things that you should want to see if you support blockchain and crypto currencies because you want there to be these things you don’t want to be operating in the dark I mean you might but if you want these things to really take off and you want the most out of them then you’ll want them to come into the light and be accepted now they can’t come into the light and be accepted unless the government says this is okay at least wherever you are regionally and that doesn’t mean they still can’t be successful kind of operating in the dark just means they won’t reach their full potential like they would if they were to step into the light and be supported essentially by the government’s in a way that won’t restrict them and keep things in the dark and it’s just really nice to see that there’s more coming out the g20 also had some concerns about stable coins and that’s not just Libre and the really interesting part about the articles it boils down to that they think that the ability to transact freely with these stable coins is there major financial stability threat or at least that’s what g20 thinks or that committee with g20 now one of the things that was really interesting that they used as an example is this can be visualized in countries like Lebanon which impose strict capital controls in late 2000 nineteen and whose citizens are largely barred from their bank savings so essentially they don’t like stable coins because they can’t tell you when to stop using them or when to stop doing them and it kind of makes sense because if you’re a government and you really want to have complete control of everything you want to be able to edge the supply subtract from the supply pause everything if you needed to lock certain accounts you know freeze and unfreeze accounts things like that and we’re stable coins that’s just not an option so they I can see why they don’t like it but I believe stable coins are probably here to stay I don’t think there’s much they can actually do about it for the most part unless they make them all illegal or something to that nature so definitely another interesting thing to watch out for and then also finally the EU lawmakers also want to make a new regulator for their crypto blind spots which is this is exactly what I’ve talked about earlier this is probably something you want to see if you want the max potential out of blockchain and cryptocurrency you need these government organisations to create these regulatory agencies who put in rules that allow these things to succeed instead of trying to step around existing rules and being afraid you’re gonna get hit with a lawsuit now before I get into showing you the intro videos I don’t want to share just remember that the April giveaway is still going on the link to this should also be in the description of the video and there’s quite a few entries already so far for this period in a month and remember I do have a question 1 which is worth many more injuries than the other ones here so if you’ve been watching my videos then there’s a good chance you’ll know the answer to the question or if you haven’t you probably won’t know the answer so if you’ve been watching that’s a good chance to get yourself a winning entry now let me pull up these videos here for the intros I’m gonna put up a poll at the end of these so I can get your opinion let me switch on my desktop audio so you can hear these and make sure my head isn’t in the way entirely okay so this is number one see how you like it now these are too loud I apologize I don’t know their volume level comparatively to how I talk just see it so like I said if they’re too loud I apologize that was number one this is number two alright and number three I think this one’s a little loud I think that one was a little too loud but if that one is chosen I can obviously lower the volume on it and number four I said no one was a little loud too but I liked all four of them I have my favorites and I might rotate in between using these but ideally I would want to use one continuously going forward at least for a period of time before I do change it and I would really like if you’re actually watching the channel to give me your feedback and let me know what you think about those there should be a poll popping up it might have already popped up please tell me which one you liked most remember there one two three and four just let me know which one you like the most and I will consider using that as the intro going in for now you might have also noticed in the video I’ve thrown some other things into the video that should help with some engagement and growing the channel just a little bit so I hope you don’t mind those going forward these are pretty common on YouTube to help grow your channel and really that’s what this is all about as part of the mission here and increasing the adoption of cryptocurrency and spreading the awareness and just doing all this now I do have a lot of other things going on that I’m working on to try and help with the channel but this is just one of the many things but for now I think that’s about it if you liked the video please like those really help and also subscribe if you haven’t already if you’re watching this video and you’re this far through and you haven’t subscribed I’m kind of surprised because this is this is pretty niche to my channel this is kind of what I do I talk about crypto talking about taa talking about the crypto news things like this is what we do here but other than that I think that’s it for now I’m gonna have another pond script video I think at least one more out this week maybe two and then I’m going to also look at the light Knight stuff but other than that I think that’s it should have plenty of content coming out I hope you like it but other than that and I know I’ve said this several times thank you and have a nice day [Music] [Music]
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This channel focuses on Bitcoin, Ethereum, LiteCoin, Ripple, Link, Basic Attention Token and almost all cryptocurrencies that demand attention. Please like the video if you liked the video, and subscribe if you like these types of videos. David from BigBits is an experienced Software Engineer, but no one is perfect, If you find any issues with any of the open-source, free code, or code shown in videos please comment to let us know what to fix, we listen to our viewers!