YouTube Video Transcript
[Music] hey this is David for big bits and this video is gonna be kind of an update video we’re gonna talk a little about a little bit about ta with Bitcoin there was a huge move today which could be kind of a precursor for another huge move and there are some major updates regarding the YouTube channel at mainly we hit two and a half thousand subscribers which I’m amazed the channel growth has been really amazing since I came back here not too long ago back in September of last year it’s that’s been almost about nine months now so it’s not that’s not that soon it’s actually been quite a while now but for nine months I think the growth for a channel like this has been really good made a lot of headway on a lot of things and gonna be sharing some progress with you all today as far as what’s actually going on and some of the plans for the future of big bits once we get things really rolling here soon so first off obviously we hit two and a five thousand subscribers here’s some ta I’ll talk about this in just a second but I did start another giveaway I said this is to celebrate two and a half thousand subs I did kind of want to wait on that but at the same time I was super busy in June so I just kind of combined the June and July giveaway this is gonna run through July but the thing that I do for you all on the channel is if you watch the videos I have the questions you can see it’s only worth 20 entries but I change the questions periodically so you get more entries if you keep up with what’s going on and the answer to this question is actually gonna be up here so if you can read that stuff then you’ll be fine if you need apposite that’s on too but that should be easy enough for you let’s see that is it for the giveaway we’re doing $50 this time because I combined them really nothing too special about it but if you’re interested in joining it of course you can check out Twitter I posted the link there it’s on the discord as well or you know you can look at the comments section of the video and you will not the comments the description and the video you should see a link to it there I might even put it in the comments that’s pretty good idea but you should see it in the description of the video while you’re down there like subscribe all that great stuff because we are going to be more giveaways in the future so let’s talk about ta the channel scripts tradingview my application I’m working on and many other things so please do that if you haven’t already that it’s a big help for me so I’m going to kind of get off of the giveaway and kind of focus on TA and Bitcoin is looking really good this is the chart here I’m going to actually switch back to the tweet because this does a really good job of explaining everything I said a lot of things turned a bullish today now this was before the end of the daily candle so we can’t see the next values on here I’ll show you those in just a second because I have the chart pulled up but any one we had the clothes about the daily mid Bollinger pan line and I’ve switched now to using my own fancy Bollinger Bands indicator which for some reason I hadn’t updated my chart to use that before here and I really do enjoy using this much more than the traditional one using the basic fill options so it’s not so ugly but I like what’s going on here you’re gonna have the 100 crossing over the 200 moving average down here your closing price was above the mid Bollinger Band and generally that’s a pretty common strategy with the Bollinger Bands is when the price crosses over the mid band that’s usually a good opportunity to enter into a long position so it’s up here at the top near where there’s been a lot of resistance and you know that would worry me a lot but you have these other indicators that are showing a lot of good things we already talks about the clothes above the mid band but the smooth RSI is signaling an upper trend change and you can see it’s down here pretty low it’s in a neutral zone right around 50 but it spiked up quickly with a green green bar and a green arrow that means that the smooth line changed directions upward and the histogram is up quite a bit as well so a lot of times with this indicator and you can see there’s a lot of false signals in here but when you’re looking at it compared with some of the other momentum indicators it can kind of lead towards that momentum change you can see this is I believe the stochastic and you can see that it shot up quickly and compared or paired with the other stochastic RSI these stochastic RSI really shot up and that is something you should really take notice of because when it does that it typically kind of runs with that and of course then this is financial advice I’m not telling you the bitcoin is gonna hit 12 K or anything and that you should go long but this is what I am noticing and I am hopeful for for the current situation and the dip buyers may be kind of left in the dust to buy another dip another day and of course the last one is the MACD bullish cross forecasted with in soon and my English is falling apart because I’m reading a lot of the comments that I’m getting from bots on YouTube here but in all seriousness there is a forecasted MACD crossover will zoom in on that on the actual chart alright so let’s go ahead and take a look here at the actual chart itself I wanted to zoom in on that MACD you can see it’s actually probably going to cross over after the next daily close if we have another green daily here and even then it might not even require green daily as long as the if it’s a red candle smaller so you’re gonna probably have a MACD crossover and the fact that it’s happening closer to the zero line to me and my experiences the crossovers around this area are usually a little bit stronger I’ve in fact written a script about this back in the old days when I was using quantconnect I wrote the number one script on their platform because they do have a social ranking for your scripts it was the number one overall on the entire site that had to do with a MACD crossover within like this 1 to 2% range of price here so whenever the crossover occurred here it was usually a lot better than if it occurred up here or down here well with bullish ones it actually was just as well if it was up here as well as down through here as well but that beyond that point just the crossover does look like it’s gonna come as long as we don’t crash down hard and I did mention this could be a bull trap I do think that is quite possible as we are heading into resistance you can see there’s several areas here to watch we’re not up to any of the main resistance levels just yet and zoom in just a bit switch this back to just Bitcoin and I don’t like the way this looks anymore but you can see there are several key levels here we are not quite up to yet and if we can get past those levels then likely it’s kind of game on I think I believe a lot of other people if you’re following on crypto Twitter and some of the other places to get some sentiment then I think you can see that a lot of people are very bullish if we can bust past this resistance level here and shoot up to eleven to twelve thousand dollars a lot of people believe the next ball cycle might be starting in that case so just something to keep an eye on I’m very concerned about the bull trap but at the same time I’m not going to be longing resistance i’ve dc8 for a very long time so I’m not too worried about trying to FOMO in here if it does break up we’ll eventually get another dip it’s not going to go straight up to a hundred thousand so I’m not too worried about that if I want to add more alright so that is it for the Bitcoin TA let me see I usually talk about some other things and the stocks they actually look kind of similar I’m looking at the SP here their momentum indicators look fairly similar of course they’re a lot slower because you don’t trade weekends and off hours on the SP well these are the future contracts so can I do but not with the regular ones so it’s also closed above its mid Bollinger Band it’s got some momentum shooting up a potential crossover on the smoothed RSI and these potential crossovers as well although I’m not really concerned about the MACD that one’s not as great of a concern as the Momentum’s if it has another green day tomorrow I mean honestly think it could shoot back up here and you might even get that famed bearish divergence on the RSI on the daily if the price comes up to say you know three point three to three point four and perhaps does a double top I have a hard time seeing the price going lower right now with this kind of cluster of mas up here and I just realize you couldn’t see the momentum indicators down here so there you go you can kind of see those now there’s a chance for those crossovers I’m just about all of those including this smooth RSI which I believe you might have been able to see that one but that’s it for the SNP I’m not really gonna go into a lot of the other ones you will have noticed though there has been a lot of whale movements on basic attention token and that’s one of the coins I pay a lot of attention to those should I say tokens that I pay a lot of attention to so go ahead take a look at that chart it’s actually done pretty well the last couple days it’s a little bit ahead a Bitcoin on a lot of these indicators it’s actually kind of charting similar to Bitcoin as you can see well move it back over here so you can actually see the values it’s stochastic shot up it’s smooth RSI shot up and this was a couple days ago it’s indicators are shooting up and including the MACD crossover so it’s fairly similar to Bitcoin here it might be a little bit ahead a Bitcoin so we’ll see if they actually play out and act the same but a lot of the reason there’s these large well movements on basic attention token right now is that the compound token which if you’re following around crypto on crypto Twitter or basically YouTube anything that has to do with crypto you’re probably hearing about compound the defy token people are staking kind of their tokens on there for people to borrow and you lend out your tokens and you get interest back and the interest on base extension token was ridiculous like 26% it was huge so you put your tokens in there and you get a 26% annual return out of it and it’s locked in a smart contract so there’s almost no way you’re not going to get those back so it’s kind of interesting to see how that’s happening but there’s been a lot of basic attention token whale alerts come through here’s one for nineteen point three million forty five million let’s see there was a few more seven million you 19:17 sixteen so yet there’s a lot of basic attention tokens moving around lately but that doesn’t necessarily mean that it’s bearish if they are moving these into the compound system to lock them up for the interest then that could be a good thing depending on how much interest they’re bearing and if they’re selling that interest so just something to kind of be aware of if you’re like me and you’re into basic attention token it’s holding up really well versus Bitcoin it’s actually close to its highs since the corona crash back there take a look at this on the weekly chart and yeah it’s still within that range of the 50 to 100 that we talked about on the channel before now a lot of the momentum is still kind of pointing up here it looks like it’s kind of waiting on something it is kind of consolidating so we’ll kind of see how these things play out but I’m still kinda hoping for the 100 moving average here it’s not looking incredible but the price just kind of keeps going up and if Bitcoin can make its way to the top of the weekly Bollinger Bands which would bring it out into a potential bull cycle then it could lift up alts as well with it so we’ll see how that goes all right so I’ve been going on about ta for a while it’s time to actually talk a little bit about the channel here and big bits itself and to see where things are gonna go now I’ve had and some discussions lately with some people I’ve been working with regarding big bits and what I’m going to be doing with things and work that people would like to see me do I’ve had some people approached me to create custom scripts for them and I’ve been fine to do that I’ve done that off and on periodically I’d really don’t do it very often don’t have a ton of people approached me right now because I’m not seeking that but I do have people approached me and I’d do it occasionally I might seek out to do that more often I do need to be able to generate a revenue and the channel itself is about to hit monetization status with YouTube so that would mean ads on the videos and as much as I don’t want to have to do that I’m probably gonna need to do that probably on the tutorial series and some other things unless I can get some content sponsored eventually but we’ll see how that actually goes I’m not really too too sure that’s gonna ever happen unless I have a much broader audience and right now it’s pretty much focused on trading and scripts in general and development it’s a it’s a niche area within a niche area if so we’ll see how that actually goes but the monetization is going to start I don’t expect much from that probably not even enough to cover the giveaways well we have two and a half thousand subscribers we don’t get a ton of views on all of the videos and the videos that we do get a ton of views on we’re probably not going to generate a lot of revenue and it’s probably not gonna be enough to cover the giveaways themselves so there’s gonna have to be something else so I’m gonna probably look at doing some more scripts and after talking a little bit I’m gonna try to do a few more live streams and I think I have decided I’m going to convert some of my more well-known scripts such as the fancy triple moving averages and the fancy Bollinger Band scripts into private strategies and by that what I mean is I’m going to take the indicators I’m going to convert them to a strategy and I’m not just going to make it a single strategy once you make it I want to make the fancy indicator into a fancy strategy so not only will it have all of the features of the fancy indicators but it will have multiple options for the strategies so you’ll be able to select multiple conditions to be able to be true so I have the alert condition set on the moving averages so you can get an alert whenever there’s a crossover in the moving averages when the price crosses up-and-down so what I’m hoping to do is build an assistant to where you can select which conditions you would like for the strategy to look for to buy which ones you would look forward to sell and it will go through and it will try to find all of those that match on the current candle and it will run the strategy based on your settings on the already very customizable indicator itself so I think I will create those and make those private and kind of sell access to that because apparently that’s a pretty good model for the people on trading view platform I’ll see how that actually goes if it’s going to be very receptive if people would even like that otherwise I might just focus on seeking out the freelance work to help people with creating their own scripts and I think I could use the big bits and quite a bit to do that and one other thing I’m also considering is creating some courses some online courses that go very in-depth I know the YouTube videos are great free resource but I think I might go look at creating like a udemy course or something like that to sell and maybe give a little bit more insight than I’m able to give their go into a little bit more detail as actually what’s going on and how things are actually gonna be done maybe even combine some of the work that I’m doing and we’ll see I’m not too sure about how that would actually work but I’m just trying to find ways to monetize things to keep things going so that I can continue to give aways and continue to get people onto the channel continue to grow everything and hopefully build some partnerships here and actually start making some real money because ultimately that is the goal so I do love to share and provide education but I also have to provide and that’s part of it but I do want to share with you some updates the whole moving average candles for the last video that I did on the custom candles and bars this one if you haven’t seen the video it’s a pretty good video it shows you how to plot your own custom candles and custom bars this one is actually going to be selected well that has already been selected to be a featured script and the month of June and this is the third script the last that four or five that we’ve had that’s going to be featured and this is a super simple script and I’m honestly surprised it was selected to be featured but it is kind of out of the box so I’m I’m completely fine with them featuring the script itself it’s a little bit different it’s very simple so it’s a good way for people to look at a script and think you know maybe I can do this too so I understand why it was selected for that it like I said it’s very simple so it’s easy to think that it shouldn’t be and I don’t necessarily disagree with that maybe it shouldn’t be because there are other people creating scripts probably similar to this making their own custom candles but in the end I’m completely fine with it I don’t have a problem with it like you’re probably thinking why would I of course but yeah there’s kind of a community of people who are in the pine coder scene and you know I completely agree with some of them who think that this might not be good enough for that I know myself it I think it might not be complicated enough but as somebody else mentioned just thinking outside of the box and doing things in a different way and not everybody is a skilled developer so these are good ideas to put out there for other people to look at and that is kind of a purpose of the channel here in my target audience is people who may not know anything about coding and showing them how to do these things so I think the script is good at doing that and in that aspect alone I think it’s probably worthy of it and when you pair it with the fact that there’s this video to go with it and I know there’s not a lot that really shows that I have a youtube video associated with this because you’re not allowed to put that in the description of the video but if people look and they find these YouTube videos that explain the scripts then I think there’s a lot more value added than just the actual script itself I don’t know I’ve been going on about this script quite a bit but that being said if you want to check out the scripts go to the profile on tradingview and I always have to mention to use the referral link in the description of the video if you want to sign up for a paid plan some of the scripts require a paid plan that I’ve done because they use real time data and one-second candles I know that’s crazy to think of but yeah they do use one-second candles for the reason of creating custom delays with alerts so if you want to use that you’re gonna have a premium so if you’re gonna do that please sign up with a referral link that’ll help me that’ll help you I think it’s $30 credit towards your paid plan now on to the trade alert responder application and it’s gonna throw an error when I started that’s because I changed some rules here but it will eventually fire up entirely or might not throw an error I believe that fakes that so we’ll wait for this to come up all the way and this videos been going on for a while I do apologize about that but here we go I there are some very big updates here we have the alert scanners the plugins were added we’ve already talked about this on the channel we have the custom settings for the individual instance of this and we also have the plug-in wide settings for it so this is all looking really good but the big thing that I’ve done is I have added the alert action plugins and I have the Twitter and discord alerts working using the plug-in model there’s a pretty big step so there should be another release of trade alert responder by the end of the week hopefully and I’ve also kind of changed some of the look and feel of the application to match the overall dark theme of it now there’s several things that I have written down I’ve cleared out my alerts if you haven’t noticed I’ve cleared out the alerts I’ve cleaned up the theme there’s still several things that need to be done before we can move on one of the things that I am going to be doing before really working hard on the alerts and kind of sharing this is the alert settings what I want to have is a custom message with placeholders similar to the alerts on training view to where you can take any property of your alert and you can design your own message that’s gonna be shared in your alert using those placeholders and the properties of the alert so that might be a little bit confusing but that’s gonna be really neat and this application itself will be part of the monetization strategy for big bits in the long run I have talked about the plug-in model before and how it is gonna be something I want to monetize I’ve thought of a fairly decent model for how to do the monetization I am going to be testing that model out probably this week if I can get time we’ll see how that goes but once I test that model out if it works then I can actually go ahead and add it to the application what I plan to have is like a section up here in the top that shows your user account and there will be accounts I’m believe I’m gonna tie it to my website and you’ll have to authorize through my website and we will base permissions for plugins based on your membership level slash rolls on the website itself so hopefully this will work out and then once we do that I can come up with the actual monetization strategy I got to make sure everything actually works before I can tell you that this is how it’s going to happen I’ve kind of thought about some other methods on monetizing the application of the plugins one was actually using a smart contract and interacting with the etherium blockchain but I felt like that was a bit too complicated now it’s entirely possible I could actually make this application a wallet and you could fund your accounts your address your wallet here and you can interact with a smart contract that would give you permissions and it would read off of that and I thought you know that’s the the perfect API but it’s actually really complicated I would feel really bad if people lost their seed phrases or anything like that to actually be able to access their address so I don’t think it’s quite ready for that I think what we really need is like a third party service that will allow you to create an account to interact with smart contracts for you I’m not aware that actually exists or not if it does please leave a comment and let me know because if I can put a third-party service in here that interacts with the ethereum blockchain and allows you to interact using a proxy account essentially your account is hosted on a third-party site whoever is hosting this API and then you would grant permissions to do this so that it can interact with a blockchain for you then that would be great and that might actually be a good business idea itself to actually create the hit I can’t believe I’m just now thinking about this as a solution but yeah that would be great but the simplest and easiest to implement solution would be to connect this with my website and memberships there and I’m thinking I would like to reach out to try and partner with someone to add news or a publication feed to my website and thus to the application itself I think that would be a nice thing to add to this I believe people will want to use this application if they’re actually using it to monitor their logs actively and doing all those other things they might want to have their information published in a featured section really it’s just working with trying to help someone else grow because I believe there is room for a partnership here that can work in the sense that I host this software that helps you spread the word about your publications your trading alerts using the different plugins so I help you post to Twitter post to discord and use whatever additional plugins I’m going to create and you get to put your publication here so I help you spread your information as well so I would be helping them spread their information through the use of plugins and they would be helping me I don’t know I’ve lost my train of thought but anyway I’m helping them with the alerts and they’re helping me getting the word out there about the application itself I’m getting their information on here because it will draw those people who want access to their information into the application itself so yeah I kind of went at a loss for words there but that’s what I meant there is room for a partnership here I would love to see this actually happen an extra tab for like information or maybe even other things related to that so I would love to see something like that come of this hopefully once we get things figured out a little bit more but yeah I have been going on for a very long time this probably should have been a live stream but I’ve been super busy lately with the Father’s Day holiday and I actually took off sometime recently and I was away for several days here so I haven’t really been able to make a video and yeah this probably should’ve been a live stream I’m kind of rambling a bit but hopefully you got to see all the updates everything is now dark theme we’ve got everything else coming up it’s all looking really good here but that’s gonna be it for this video please remember the giveaway and I talked about at the very beginning of the video nearly you know twenty eight minutes ago so if you haven’t already please check out the giveaway answer the questions and check back on the channel for the answers to those questions periodically remember the answers for this one or up here so you’re already good I have a head start and then while you’re down there clicking on the link for the giveaway go ahead and like and subscribe if you haven’t already my goodness if you’ve watched this whole video I think you should subscribe because if you set through all of this then you’ll love my other content because I usually don’t ramble like this and it’s usually a lot more valuable the entire duration so we’re usually talking about pod script tutorials trading view updates and there will be some videos this week about trading view updates I’ve had quite a few big ones come through but okay I’m done rambling that’s it for the video I’ve already asked you to like I’ve already asked you to subscribe so I have a great thing [Music]
YouTube Video Description
< br/> 🔻🔻🔻🔻 IMPORTANT LINKS BELOW 🔻🔻🔻🔻
🤑 GIVEAWAY URL 🤑
New Featured Script – 2.5k Sub Celebration – TA and Big Bits Updates – New Giveaway!
In this video we celebrate the channel hitting 2.5k subs on YouTube! We also talk about a new featured script from one of the recent videos and then also do some Bitcoin and Basic Attention Token TA and talk about what Big Bits is going to be doing in the future. Please comment if you have any ideas to share!
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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!