Did the Fed Crash Markets? TA – New Indicators – Channel Updates

Did the Fed Crash Markets? TA – New Indicators – Channel Updates

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YouTube Video Transcript

[Music] hey this is David for big bits and I hope you all are doing well the market today has not done too well and I’m posting this video at my old regular time because I wanted to kind of talk about what happened today as far as ta and I didn’t want to really wait until 9 a.m. tomorrow to post the video so that the TA doesn’t get completely invalidated by then which tends to happen a lot but so from the screen you can see we’ve done some work here recently if you missed the most recent livestream and you’re interested in the stuff we talked about here please go back and look at that stream I did fairly well we had a few views but we worked on some indicators and I plan on doing another livestream tomorrow so hopefully you can stop by for that one as well and I think we’ll be talking about TA of course but also the stochastic weighted and these other indicators that I’m working on and hopefully I’ll have a video come out this weekend regarding custom candles and how you actually create your own candles so this is something that was kind of playing around with today I think it’s good enough that we can make a video about that one soon but first of all let’s go ahead and look at the TA for today this should be pretty quick I’m not really too worried about it I kind of figured we were due for a drop in Bitcoin and we did I didn’t expect it to be this large but I think it had to do a lot with how the SP really huh crashed pretty much today it went down a lot probably the biggest losses since the original coronavirus dump for sure and that created this kind of liquidity rush or something like that that’s what they’re kind of calling it people are rushing to get liquidity they’re selling their assets because everyone is they need to get they need to get their hands on cash so they ended up selling everything so that kind of probably played an impact on what happened at Bitcoin today but I’m not too terribly worried about it because it did bounce off of the 50 period moving average although the concerns that I do have are that this could be the start of momentum we have you know stochastic and RSI is stochastic RSI and the MACD are all kind of tending to point down right now so that could mean that we are in store for further move down but we’ll have to see how it reacts against the 50 period moving average and if that can hold and if it does hold around here then the momentum could turn around pretty soon we’ll have to see how that goes and then it’s important to note it may be important how the SP works out tomorrow because it’s at a key support level right now the 200-day moving average it kind of tested it after blowing by it the first time it had some wicks go through it and touch it again but there’s a lot of momentum going down here I’ll be amazed if the 200 holds and I can imagine probably tomorrow that the SNP comes down to its 50 and 100 day averages and at that point it may bounce next week because the Bollinger Bands are moving up but we’ll have to see how it actually reacts it is still trading after hours so it could come back up to its mid Bollinger Band and could spend the next day moving down to the 200 and that also kind of corresponds with the weekly chart which has a finding support at the 50 week moving average so the 50 week and the 200-day are pretty much on the same same levels here I should say it’s acting as potentially a support for both of those so it may or may not go down any more and if it does find support tomorrow there I could imagine it closing back up level with the open of last week’s candle to create that bearish engulfing candle or anywhere in between there I’d be kind of surprised to see if it would close anywhere above that point just because then it wouldn’t be in a golfing bearish candle and it would have proved support off of the 50 weak twice so that’s gonna be something very interesting to watch tomorrow with the SP and I think by now we know that the SP does or L can have an impact on the crypto markets as well such as today and the big crash back when the coronavirus hit when people sold off all of their assets to get access to cash so this if this is happening again then that may happen again with cryptocurrency now it might not be so bad and Bitcoin isn’t at any support levels on the weekly level yet but it trades 24/7 so by the end of the trading week for Bitcoin it might be down there as well and who knows we are on the weekly chart I will mention that the 50 week simple moving average for Bitcoin is now going to be losing these very high values up here and let me hide these Decatur’s okay they’re real all right so these very high values that were being included in the calculation for the moving average are being removed and they are being replaced with lower values now so that has a negative effect on the moving average currently and if price drops again you can see it’s already forecasted go down some just because we are removing some of these higher values these are the highest values in the moving average history so you can see well that has a negative impact on the simple moving average coming down we’ll have to see if it provides support this is a weekly chart so I have a hard time drawing predictions on a weekly chart let alone a daily chart so we’ll just have to see what kind of happens here and like I said it might depend a little bit on the S&P so not too bad there is still momentum going up you could see this stalling out and continuing upwards in both markets so something to keep an eye on and hopefully we’ll find out a little bit more tomorrow there was some bad news in the equities markets for some different companies today and maybe that played into it but a move that large in a single day probably has something more to do with fear and maybe some of the stuff that the Fed said yesterday but and if you’re wondering the Fed didn’t really say a whole lot so for the past you know ten weeks or so they’ve been saying they are going to be doing a lot and pretty much for the first time since the coronavirus hit and crashed the market they didn’t really say they were gonna be doing too much and they said that they anticipate the 0% interest rates going through 2022 I believe so at least a few more years of 0% interest rates and they are not really considering negative rates at all even though Trump’s kind of calling for negative rates we’ll have to see how that goes but either way I like Bitcoin I like crypto even if it does come down you gotta think the 200 week would hold again and it’s still it’s it’s it’s up to 6k now so not doing too bad with that and I don’t think I really care to look at anything else right now there’s not really a whole lot going on there was one that I was looking at if he followed me on Twitter you might have seen this when I was looking at MCO and Bitcoin this one’s kind of interesting just because it was one of the few coins it didn’t pump over the last few weeks like a lot of them did and its counterpart CRO actually it’s really pumping hitting all-time highs and it’s got 50 week moving average support down here so we’ll see how that reacts when it hits that and if it does it finds that is support that one might be a good trade for me to DCA in over this period of time so we’ll see how that one goes that’s one I’m watching and brave and Bitcoin I hope it finishes the week strong because it was looking really good to head up towards its 100 week and now not so much there’s a very good chance it could close right in the same area and really give you no idea what’s actually gonna happen and it did move up to 24 cents and even 25 cents I believe what was its high 26 26 and a half cents so that’s not too bad and maybe just maybe it can find support on its multiple different weekly moving averages here instead of coming back down through them like it did back here so maybe there’s another round that you have to go through another wave before you can really get to a big move in the price on some of these tokens and some of these coins but that’s to be seen I’m going to go ahead and talk about some of these other indicators that I’m working on here and I’ve actually published this particular indicator that’s stochastic PC it is a stochastic calculation based on the percentage price change of a candle so we take the percentage difference from the open of the candle to the close of the candle and you can have like a four percent move up or a negative four percent which would be a move down and we take the moving average of those so that it doesn’t you know go up and down really quickly very volatile and then we do a stochastic calculation of that moving average and funny enough it actually kind of aligned pretty well with price now this is a slightly different chart and I just got a phone call I mean just a moment I need to turn my ringer off apologize about that I like to do these videos in one take so I’m not gonna stop recording anyways so it tended to align very well with price these are custom candles so you can kind of ignore this the blue line is the actual price so you can see the bottom kind of aligned pretty well with the actual bottom back here on this one and there was a increase and it kind of flowed pretty well with it so I thought it was useful enough to possibly include and the published scrip so I went ahead and added it there and I also started working on this stochastic weights indicator and I might rename this to fancy stochastic indicator or something like that because it’s really cool what we’re doing here is we are waiting our different stochastics our difference the casted calculations and the RSI which is an oscillator that goes between 0 to 100 so anything range about between 0 to 100 what I’m doing is I’m adding them all in together and then I’m getting their average and then that is the blue line and then of course was the casting if you didn’t watch the video I made about stochastic that calculation the average of their actual K lines would be the fast K so we smooth that out the blue line is actually a three period smoothed value of that and then the D value is a three period SMA at the blue line and really what you’re doing is you are kind of getting you’re trying to remove some of the noise and take the difference of the weaknesses and strengths and combining those together these different stochastics trying to get so you can see it may or may not actually mean anything let’s take the RSI out you can see it did a pretty good job of finding the bottom there because remember the blue line is the price and that was the bottom of the price and it found a dip here it was a little early on that peak and it was just on time with that peak pretty much so what we’re doing here remembers we are adding these together and let me go and start from the beginning here so this is the same calculation here I have the stock PC built into the weighted stochastic indicator here and if I disabled that and I enabled a stochastic this is the actual stochastic indicator and what’s going to happen the blue line here and the blue line with the CICC PC are going to be added together and averaged out and you’re actually going to see this line is created the blue line is created based off of that average and then the orange line is based off the blue line here it has nothing to do with that other than it’s based off those averages so I’m looking for other indicators that I can add to this that are range bound from 0 to 100 so if you have any please let me know I’ll add those to this I’ve even added a stochastic volume which is similar to the siq astok price change but it is based on the volume so if you have green volume the stochastic would be higher you have red volume it would be down so essentially the red volume or cell volume days where the price goes down that volume is multiplied by negative one so it counts as a negative number so you kind of get the idea it kind of works like the percentage change except it’s with volume and it’s yeah it’s pretty much exactly the same as the percentage change it just works with volume but that will be about it for that particular indicator for now I am going to be publishing this at some point but like I said if you have any ideas for other stochastic that that can be added to this I’d really appreciate that information I’d like to know because I’d really like to add more on here we’ve got five right now but I’d like to see more than that if possible so if you know any range-bound indicators 0 to 100 please let me know any but if they’re somebody else’s indicators maybe we can add those as well so we’ll see but that is it for that one you can also see we have these custom candles that we’ve created and that’s going to be its own video as part of the tutorial series finally going to be able to do a video for the tutorial series and this is kind of like the Hagin as she candles right but what I’m doing here is I’m basically creating these candles based off of the whole moving average so the open the high the low in the clothes are all based off of a whole moving average of the open high low and close so we get their body we get their highs and lows and it creates its own candle and then we color it appropriately and I’ll show you how we do all of this and how you can get rid of the default candles to be able to show this for your own so that was pretty cool and then I also had to put the blue line on here so you can actually see that real price because one of the things I don’t like about the fake and ashy candles is you look at those and you’re like oh wow I can get such a good entry right here oh as soon as it turned green I mean that’s obvious but look your price is actually up at the top of that candle so it wouldn’t have been that good and that’s something that people struggle with what the heck energy is like they look at it for the first time and I think wow this is amazing and then they actually look at where they’re in trees would be compared to what they think it would be and it’s not quite as good although it is still pretty good baking sheet candles are really good in my opinion but I think that’ll do it for this video I’m still looking to see if I’m gonna do a giveaway this month I’ve been a little busier than normal and it’s a lot of work to set up the giveaways I’m thinking about just making it a fifty dollar giveaway next month instead of the twenty five dollar giveaway that might increase the interest in the contest and well not really contests and sweepstakes and hopefully get some more people to come the channel were almost at two-and-a-half thousand subscribers we’re doing about two hundred and fifty two hundred seventy per month I can actually show you I think I think I’ve got this pulled up over here oh yeah there you go these are the analytics for the channel we are getting really close to being monetized again you see we’re two thousand four hundred and twenty here’s the growth of the channel it’s kind of flatlined I’ve been a little less busy lately you’ll notice when I was very busy making a lot of videos you can see down here the growth was pretty good but it still kind of plateauing at a nice high level we’re gonna get the 4k ours are gonna be able to monetize and hopefully do some better things with a channel and maybe eventually even make the sweepstakes a little bit better so I really appreciate all of you all who have stuck around and watched everything and there should also be an update on the trade alert responder very soon I made a lot of progress on that I think now I’m actually done with the video so if you wouldn’t mind please like the video if you did and of course while you’re down there please subscribe if you haven’t already if you’ve watched all this video hopefully you’re interested in the things I’m doing here I’ve talked about a lot of the things I’m doing already so I’m not gonna go over that again but I really appreciate that thanks and have a great day [Music]

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Did the Fed Crash Markets? TA – New Indicators – Channel Updates: In this TradingView Update, we discuss TA on major crypto markets and the SPX500USD. We discuss a bit about how the Fed may have impacted the markets and perhaps lead to the crash. I also talk a bit about some new indicators I’m developing, as well as other channel updates for those who follow!

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