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hey this is David for big bits and today is June 3rd of 2020 and gonna do a little bit of talk about some ta for something for crypto Marcus today talk a little bit about SP as well but then we’ll go on and talk about some the tradingview updates might talk about some of those as we’re doing some of the TA stuff since we’ll be on training new anyway and then also share some of the updates with the trade alert responder application that i’ve been working on and it’s coming along pretty well nothing to visually important over the last couple of days but some pretty major infrastructure work on the back end on the code that I’m gonna share ok so it’s been a little while since I’ve done some TA here and the charts are at absolutely ridiculous the Bitcoin chart although it nearly had the bearish engulfing candle the complete engulfing bearish candle yesterday so doesn’t look too bad the momentum on some of these indicators going downward isn’t really that severe you could very easily see it turn back up on the stochastics cask RSI not to mention we’re still trading above the moving averages so if there is a pullback I would expect that the 50-day moving average would at least be the first stop and if not we’d probably get another bounce off of the 100 and 200 again but if it goes down there I’m definitely looking to add more because switch out to the weekly chart here the weekly chart momentum has been really good the current week doesn’t look too great if it ends like this it kind of point towards possibly momentum turning back down but if it were to fill the candle back up fill that wick back up the momentum is gonna look crazy or is I still got plenty of room the stochastic RSI can stay overbought and so kind of sarcastic for a while you see that back here so if we’re looking at the weekly chart I’m trying to find a comparison you want to go back and you want to look at some of these values and see where they’re at and it really on stochastic the current value which is around here actually looks a lot like it did here you’re thinking that it might turn over here but if the week finishes strong it could continue to rise and you’ll notice here at the peak of it the stochastic was even going down as the price was going up so these don’t matter too much but the fact that they have been up and are pointing up is pretty nice to see and more importantly the monthly chart this is where a lot of stuff is gonna have to happen to make me be actually bearish and on the close some of these indicators the monthly chart on Bitcoin is absolutely phenomenal the the momentum indicators here is the cast of mystic a cigar as I both took a huge jump up now I have mentioned on Twitter and on discord that in order for the monthly to look bad after the month of June it’s gonna have to dump really hard in June because the momentum is up in order to cancel out that upper momentum it’s it’s really gonna have to dump hard it’s gonna have to look something like that and you know it’s gonna have to come down quite a bit even back towards that 200 week moving average to be able to kind of negate some of that and even then is that momentum really enough to carry it further lower I personally kind of doubt that so I’m looking for something like this on the monthly chart and this back over here that’s kind of what I’m looking for on momentum and then you’ll also see on the MACD kind of have something like that and on the RSI slowly coming back up here and where it goes from there we’ll see we’re kind of yet to see but honestly the momentum on the monthly chart looks amazing I don’t really usually do monthly tá but if you had done some of that earlier this year you would have been really well off or last year I should say take those off my chart alright let’s take this back to the daily chart here and by the way that red line I did draw that at the very beginning so that was a forecasted line and it’s kind of eerie how well that played out I’m trying to get an idea of where things are gonna go now but if I had to guess it’s well obviously we’re there now but that’s right this is the brush tool something like that is what I would like to see on the daily but you could also see potentially coming back down here and if it breaks towards there it could go down this way as well and that would take the momentum down pretty far with it as well so that’s what you’re kind of gonna have to see if the prices are going to go down there and at that point I would be like I have mentioned I would be buying more especially gonna take that off the chart now I don’t need it anymore so let’s compare that to the SP now the SP with all the same indicators also looks equally ridiculous and it’s rally since the bottom and it current link to me looks like it is trying to form a top now how close we are to the actual top I’m not entirely sure but due to its location in reference to the 200 the 100 day moving averages it really makes me feel like we’re gonna have to wait for a bearish divergence which would mean what I’m kind of thinking is that maybe until the end of the week price comes up and then next week it comes back down and then price goes back up above it even higher it could even get back up to 33 3400 but what you’ll notice is that the indicators down here are going to go down but they’re not going to come back up as quite as much as they were and really this is what I’m really going to be looking for when it comes to a top so I will be looking for price to be increasing while some of these indicators start to decrease or have their tops decreased that is so I’m gonna continue I’ve been buying some dividend stock some decent ones that I really haven’t done too much with stocks but I have started doing that recently and I’ve also started looking into some short ETFs I really do think that it is going to turn around at some point it’s completely ridiculous especially if you’re thinking in the terms of the market maker and this is something I talked about several times on the channel is if you’re the market maker and you’re doing really well obviously if you’re the market maker you sold you push the price down but you also bought very low but since then everybody else has been able to hop on board and win it’s a little too easy but just looking back at history they just kind of seems to be how the stock market does there’s very little chances for you to be wrong when you bunk I know this is going back through a bullish period but really you’re gonna kind of want to look for something like that maybe but this is a daily chart so this has gone on quite a bit longer than this so it’s hard to say but it’d be nice to kind of see something like that to shake out some of the lungs and also give those of us who were being more patient a better chance to get in at better prices to be able to hold more for the long run I’m gonna leave these on this particular chart because I want to see these actually happen and I’m also kind of when it comes to the RSI I’m kind of wanting to see it up here come down hover around here as the price goes up and then we’ll see it go down something like that it’s a little bit harder to draw the RSI but give me just a moment I’ve got something I’ve got to take care of and I’ll be right back you you okay sorry about that guys so that kind of takes care of Bitcoin and the SP but I want to go and look a little bit more advanced so I’m going to actually convert this chart to a single layout now and I still have the drawing tool on which is unfortunate so I was meaning to drag that now we can see things a little bit better I’m trying to think of which one I want to start with here I think aetherium is the obvious choice let’s look at it it’s looking very similar you’ll notice it looks like momentum is wanting to pick back up even though we’re up at the top and however you will notice on both Bitcoin and aetherium something like this and I think if the stochastic goes below that then it’s probably gonna go down quite a bit and this too could also see the dip and rise but we have not tested the 50-day since it broke above unless you count these two but they were both at or above the 200-day so I’m not really sure that would qualify so kind of the same thing with Bitcoin looking for it to come down to the 50 possibly the 100 and 200 let’s look at a versus Bitcoin so I think I drew this line on regular scale no maybe yeah I think I did you all this on regular scale for some reason and it definitely looks like I was trying to break out verses Bitcoin and oddly enough it the chart itself looks a lot like how it does versus USD and that the momentum is looking to pick back up while it’s already pretty high so could see a large move if things start to pick back up again soon but just come back in through history here for it it is at this level of resistance that used to be support on the prices here but we have already beaten that before or poked through it somewhat maybe you’re looking for actual resistance up here because this level seemed to be pretty important as well that’s what 30,000 satoshis around that so you get back above that then it can really really move and when you look at the weekly chart let’s see it the weekly chart looks really really good so if you pair that with the daily chart I think things look really well to continue to move up at least to the 50 not 50 this is the 50 the green one did the yellow and just the 100 week moving average that one looks really good to me as a first stop for it and it can obviously go beyond that now this is that 30,000 satoshi range around here that one will be interesting you can see that it did a fake out here below that range came back above it and it turned back into support but then it broke and then it tried to act like a fake out but the support then turned to resistance and it’s been trading below that level ever since so I’m actually gonna mark on this chart that’s actually a pretty key level is the moment that’s something we’re gonna watch if it breaks that and actually I’d like to see another chart that actually has a little bit more history so let’s see bitstamp sure there is so much for us Loney axe probably goes further back yeah oh my goodness it’s been a while since I’ve looked at this chart but it’s got a lot of the same information that I had on it before I’m not sure why I put that line it seems kind of out of place so I’m gonna remove that and you can see where this was support head is now resistance it looks like that’s what I was kind of looking for there but the 200 is up here around 0.04 that was I reading the chart earlier okay without looking at the wrong thing oh well anyway point remains that you’re looking at this level it’s a pretty key level currently and then also this level here and then you get the 200 there all right I wanna get off of this one I’m confusing myself right now on something that I did alright so I’m gonna go back to a light coin it’s usually the third one then I take a look at here momentum is very similar to the other ones it is also playing around at some former support and resistance levels right now probably the key one you’ll notice is from the major bear market after 2017 that key level which was supported for a long time only was briefly resistance for it came back up but it also acted as support here has it really meant much since then but there is a lot of price activity around this level it’s something to watch especially as the moving averages have kind of coiled it tightly in this cluster if it does break up it could be a pretty dramatic move and it’s go ahead take a look at the weekly as well versus the dollar the litecoin weekly chart versus the dollar looks really good it I would say it’s headed towards the cluster up here as momentum looks to be picking up on all of the different time frames is the daily my preferred time scale or I just use 4 to 1 hour much so it kind of depends I usually do daily for the most part but once you get into so let me go back and show you the SNP and go back to the daily here so I am talking about a potential daily divergence here and I will actually switch to the shorter timeframes once we once it starts to look like there’s a divergence there because if you can find a divergence on the daily chart and then you also find another one on like a 4-hour or a one-hour chart you can do pretty good at finding a top or a bottom there at least in my opinion but it’s easy to get caught in bad trades on one in four-hour time frames for hours not so much one-hour you can definitely get burned on big moves especially on crypto stuff so I usually stick to daily because I’m actually pretty busy I don’t have a lot of time to do this that’s why I developed trading BOTS and things to handle that for me and I’m currently working on one now so that when I do get this completed the software completed they’ll be able to do that for me on these shorter time frames so that I don’t have to set baby set it so much okay so litecoin on the daily okay I’ve already talked about litecoin on the daily I think I even started talking about in the weekly yes yes it’s momentum but it’s really good on the weekly let’s look at it versus Bitcoin very similar as far as the momentum is concerned although it is trading below all three key moving averages which the other well which theory n’t so that’s something to watch out for there is that potential resistance and you have former support here former support here there’s there’s just a lot of a lot of volume in this range or if it breaks out of there it could be really good especially considering the weekly chart and let’s take a look at that weekly now this you’re hoping for momentum to turn around here this is probably a spot where I would consider to dca in your momentum is at the bottom it looks like it’s money to turn up but there’s always a good chance when you’re looking at momentum like that it could turn back down go down further form that divergence and then come back up so that’s why I would usually start to DCA here on the first approach because even if it does turn profitable immediately you can take profits on the smaller amount as opposed to none at all go back to the daily think of another one I want to look at I won’t take a look at Raven coin I wanted to look more at some of that proof-of-work coins out there and this chart actually reminds me a lot of the tokens I’ve seen where they have climbed in price very steadily versus the dollar but have not had their kind of breakout moment you see it’s been fighting this former support now turn resistance level there’s a lot of activity there Raven coin got down to like is that right what’s the low there it got less than a penny it was almost eight tenths of a penny Wow they got pretty cheap and considering now – – it’s more than doubled in price that’s a pretty good move found a bottom comparative – back here you could even call that a lower bottom although that’s not much if there is an incline there so that’s good and there’s a lot of potential so two cents previous highs around seven it doesn’t have as much potential as some other points but it’s definitely got a lot let’s take a look at it oops take a look at it on the weekly as well this chart reminds me of the SP as far as the stochastic of stochastic RSI both pointing up pretty dramatically on the weekly but it’s pretty clear when you’re looking at the weekly chart that you’re working with this support turned resistance now although it does appear that it might be able to get out of that get to about that 50 but you also have some more resistance here but not nearly as much let’s take a look at it versus Bitcoin take a look this on the daily first so it’s similar to the other coins or it’s looking to flip the momentum around but this one’s a little bit lower serving below all three key moving averages we’ll see how that plays out I’m that one doesn’t look nearly as strong considering on this chart it’s at all-time low so let me see if I can find another chart that’s got a little bit more history so I’m on Bonnie ants metrics ah there you go bit Rex has a little bit more history although it is around all-time lows versus Bitcoin you’ll see it’s at 213 satoshis its all-time high was around 1600 so that’s what eight Tom gained so you could potentially get eight times your Bitcoin I that although it’s not funded highly unlikely if it does break down it does have a huge move it’s more likely going to find a top around here which is still about four and a half times just really good let’s take a look at the weekly chart this one looks like it’s been accumulating for a very long time so just purely based off of TA I actually really like this one on the weekly chart as I think you’d actually have a divergence here with the siq astok RSI RSI seems to flatlined like a lot of all coins it seems like a pretty decent time to DCA versus Bitcoin and one thing that is really interesting about this one is that actually has this trend down on the stochastic terrific breaks that could go up quite a bit all right so let’s see if there’s another one when I take a look at I want to take a look at basic attention token I always take a look at it and I think we just talked about this earlier how it’s had a steady rise all of the all coins kind of look like this versus USD all right now on their momentum potentially turning back up the good thing about basic attention token it is above all three key moving averages so that’s good go back take a look at the weekly momentum is continuing to climb up this seems like a pretty important week for basic attention token because it is looking to potentially close above its 100 week moving average which would be huge so give me just a moment I’ve got to take care of something I’ll be right back you you you you you okay I’m back for now so well or I just come from all right so back to my thought process here this one looks really good if it can close above those moving averages on the weekly chart that if there were one much longer than this would be hard to take that say it’d be around the same spa’s you got a lot of cluster on these moving averages I’m trying to think where resistance might be on this one I think it’s kind of at resistance right now honestly although you can also see there’s some more resistance here but looking back I think it’s currently at resistance because of this particular area and then of course you have the most recent resistance of around 27 cents something like that but it’s been a while since it has visited overbought territory on the RSI which the last time it went over bought on the RSI put it with a high of 50 Cent’s so that’s what I’m kind of looking for basic attention token I’m looking for the next time the RSI gets overbought hanging in there really well it’s at a higher low there on the clothes it’s yeah so that was a higher low on the clothes I did weak below that I wish I was able to buy that at the time I missed it having really quick all right so let’s take a look at it versus Bitcoin similar stuff here this also looks similar to some of the others but it’s momentum has already surpassed the other ones and it looks like it’s already moving up as opposed to potentially moving up on some of the other coins and tokens out there it is facing resistance this is a pretty cute level in the past apparently as you can see but if it can close back above the 200 things could get pretty interesting so let’s take a look at its weekly vs. Bitcoin and this is another one of them that I really like because momentum is shooting up this one here’s some of the reason why it had this kind of channel damn in kind of multiple areas and it’s seeming to be breaking out of that so perhaps it will come back up here which is another resistance level on the weekly chart versus Bitcoin to 3200 satoshis around that level and that also happens to be around where they 100 week moving averages as well so if it closes above the 50 I’m pretty much thinking it’s almost certainly going to the 100 week but of course that’s not trading advice no financial advice here I really think of another one here and a few different ones today I just pull up coin market cap see what we got going on Red Bull that’s one I always forget about but I usually end up doing you know we use a bit Stan let’s go to the daily chart this is versus the dollar somewhat similar to the other ones were looking at but it’s only trading at 20 cents really nothing too important here single get it versus the weekly it’s trading below key moving averages momentum pointing up though for it to be bullish I’d wanted to close above its fifty week at least but it doesn’t look as promising as some of the other ones we’ve looked at I’ll put it that way take a look at it versus Bitcoin let’s go the daily chart first the daily chart looks pretty bad I’ll go ahead and say it looks pretty bad it’s already really low moving averages are pointing down in all directions and that’s pretty recent to their pre level here and neutral they’ve been going down recently momentum doesn’t look good there’s not a lot of good stuff here when you look at the daily charts take a look at the weekly now the weekly is not so bad if you wanted to be a longer term trade here like I’ve mentioned before this is around what I would consider to dcin you also have momentum moving up although it is from the entire bottom it is moving up as the price goes down so that’s something that kind of throws a flag to me something might be up all right see if I can take a look at something else here I wanna take a look at crypto coin this one has been pretty interesting CRO yeah this one’s pretty incredible it’s been doing really well lately and there’s a lot of reason why people are wanting to get into crypto but crypto comm they offer a huge huge interest rate on the on things that you hold there especially when you stake with their token and the CRO is their token so you can see it’s between really really well versus the dollar lately and I would look for divergence here before I would even consider to short it and possibly I would probably really want to go long if it has a dip wow you could have got it for two cents let’s see what the low was that day yeah two point three cents Wow it’s went up almost 50 times just this year from its lows that is incredible so you look at it on the weekly chart it’s kind of insane that is doing really really well I’m not sure just looking at the weekly chart it’s it’s hard to say when that might stop it’s pretty much at all-time highs mainly because apparently that is its starting price it looks like if there was an ICO I don’t I don’t know too much about the coins history but if this was its starting price from like its ICO or whatever it dropped immediately since then so I don’t really consider that the all-time high or that because they didn’t close up there but it did pop up can consider blame give me just a moment got something else to take care of you you you you you you [Music] you [Music] you [Music] you [Music] you you you you [Music] you [Music] you you you you you you you you you [Music] you you [Music] [Music] [Music] you [Music] you [Music] you you you you you you you you you
YouTube Video Description
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We are going to be taking a live look at some crypto market TA, and perhaps some more traditional markets. Going to share a few minor updates on Trade Alert Responder, and discuss some of the recent updates from TradingView.
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DISCLAIMER: All my videos are for educational and entertainment purposes only. Nothing in this or any of my videos should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto coins and tokens. Consult with a professional financial advisor before making any financial decisions. Investing in general and particularly with crypto trading especially is risky and has the potential for one to lose most or all of the initial investment. In simple terms, you are responsible for your actions when trading.
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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!
