Bitcoin and ethereum have had an amazing week, but in all seriousness, will that continue over into the weekend generally on the weekends, bitcoin and ethereum move quite a bit to be honest or if they don’t move, they really don’t move at all. So in today’s video i am to determine in which direction bitcoin’s price is going to take uh during the course of of the weekend. I’M also going to be telling you the cryptocurrency news for the day, i’m looking at four particular all coins that are really catching. My eye at this moment in time, so if you are interested in any of that, then please do slap like on today’s video make sure you are subscribed to the channel turn on those channel notifications and let’s crack up [ Music ]. So, starting off today’s video, by looking at my current open trades, i have two open at the moment.
I’Ve taken two thousand dollars worth of profit on the ethereum trade, meaning in total at the moment. That’S looking about eight thousand dollars of profit, and the same goes for bitcoin with around eight thousand dollars of profit. The ethereum position that i have open at this moment in time is much larger than the bitcoin position by about three and a half times, but all in all, been an absolutely amazing week. Uh. My goal this week was to set out to make enough money from people that were shorting the market to buy a bentley um and pretty much achieved that goal.
To be honest, it has been an amazing week. My accuracy seems to be absolutely on fire at the moment. Every single thing i’ve said this past week has happened, so let the the good times continue and let’s go straight into the bitcoin analysis for the day now. The first thing in today’s bitcoin analysis is, of course, bitcoin is forming this bull pennant on the 15-minute chap, as we do in every video. You can’t just look at that and go bull.
Pennant must be bullish because, of course, many bull pennants at this moment. In time i keep breaking to the downside we kind of formed one here that went straight to the downside. What we do know is every single time we break a support level on bitcoin’s price. At this moment in time, we generally get sold into very hard, but for a short period of time we saw the same thing here as bitcoin’s price got sold into, and let me just measure that drop when we got sold into there. We essentially dropped two percent.
Very, very quickly, in fact, that didn’t even take three hours it took about two hours. In fact, we dropped quite significantly very quickly. We dropped about two percent in the over the space of one hour, so we do know when we break support. It’S not always good news, however. It does tend to be very short-lived and the buy-ups from these are quite large.
Now that points towards more accumulation. What we’ve talked about in in this period in bitcoin’s history, a lot is accumulation. Everybody that has a lot of money at this moment in time is slowly buying as much bitcoin as they possibly can, without increasing the price too much to the point where it becomes a bit of a risky investment. Of course, everybody’s investing in bitcoin right now is expecting bitcoin’s price to surpass 100 000, probably by the end of the year, myself included in that when you look at bitcoin at the moment getting back to it, we are bullish um. We are really really looking good to be honest.
So, on the 15-minute chat, of course, the bullish here on the macd rsi is looking all right as well. You can’t really gauge that much from the 50-minute chat, there’s enough data really on the 15-minute chart. So for that we need to start working up the time frames on the hourly chart again technically bearish a little bit, but really nothing to be concerned about until we break to the downside here around forty thousand six hundred dollars, uh breaking around forty thousand forty breaking Around forty thousand five hundred to four thousand six hundred dollars will likely result in a retest of that forty thousand dollar level. Now something that could perfectly well happen. I expect a lot of things are going to happen this weekend.
Bitcoin has been rather volatile this week, but at least the volatility has been on the upside for a change which has made my week a hell of a lot less stressful anyway, notching up now to the four-hour time frame. This is where i start getting a little bit: uh giddy and excited because what we’ve, what we saw previously, was bitcoin kind of came around. We formed this head and shoulders pattern. Looked like we’re breaking to the downside at that point in time i said: look i’m pretty sure that we’re not gon na break to the downside. Here we didn’t, we bounced back to the upside and if we managed to essentially break above the level that we’re currently trading, basically a break of 41 000 is very highly likely that we actually come in and complete the formation that i was talking about.
The start of the week that nobody really expected to happen, and that will be an underside test of this red line here somewhere in this range between 42 and 43 000. Now, should we break that 42 43, 000 level and resume trading back in this kind of trading range that we have here if we start trading in this range again here, everything is going to get very good very very quickly. However, now you’ve had a taste of the bitcoin analysis for the day time to talk about the bitcoin news before talking about all coins. Before giving you my personal entry and exit positions when it comes to the price of bitcoin – and i also want to point out if you are interested in trading bitcoin you’ll – find a link to buy it in the description of today’s video. Please make sure that you’re, not in the usa or the uk, when using this website, it is not allowed by those jurisdictions, have a lovely government that made some silly laws.
That means you’re not meant to do this. However, it is a point of sale law, meaning that it’s illegal for them to serve. You not illegal for you to use them. However, having said that, i am not a lawyer um and so do not take any advice from me, and that also applies to anything that you may consider as a little bit financial advice. There is nothing in today’s video that is financial advice.
You should do your own research on top of what i say every single time, but anyway now to talk about the news when it comes to bitcoin and the first thing is the weekly macd. This whole article is about the weekly macd. That’S the moving average convergence divergence when it comes to bitcoin it’s going to cross over bullish again very very soon, and should the weekly macd cross bullish, which seems quite likely then bitcoin’s price opens up those levels of 100 000 per coin, and it seems quite likely At that point, in time, the bitcoin starts rising up to those levels. The bearish sentiment is very quickly, leaving this market now and to me at least to me, it feels like well bull season kind of does feel like it’s back on. We’Ve had some very very positive days recently.
Ip1559 could well be the catalyst that takes bitcoin and ethereum to the next level of this wonderful bull market. However, moving on from that, the next thing in today’s crypto continues: users lose 490 thousand dollars trying to mint knockoff crypto punk nfts. The launch of a new nft project called thing. Punks resulted in the burning of one and a half million dollars worth of ethereum in less than an hour. Now i see where people see value in crypto punks.
I just find this really really interesting. As a story, i won’t be buying any of these versions of a fake version of a crypto punk. I might buy a real crypto punk if, if the trend carries on long enough and they don’t get too expensive, but essentially the reason i found this article really interesting is because of these nfts being minted for a very short period of time. Yesterday, ethereum switched to being deflationary because there was so much ethereum being sent through the ethereum network trying to launch these crypto punks. Essentially, it caused ethereum’s price to go deflationary, proving in fact the eip1559 is, is good for ethereum in terms of what it does to the coin.
Now, when you look at ethereum at this moment in time now, eip1559 has taken place. Currently, 5.4 ethereum are being burned. Every single minute you can see that from this chart right here, this is the live chart of how many ethereum are getting burned over the course uh since, since uh vip-1559 has been launched, we’ve now had 4961 ethereum that have been burned, an average of 2.68 ethereum.
Being burned every minute and over the course of the past 24 hours, that rate is 3.19 ethereum that are being burned every minute. Now, if you’re wondering how much ethereum are put into supply every minute, it’s about 15 So, in order for ethereum to go deflationary, we need to be burning above 15 per minute, so the aim for theorem is not to be deflationary. The aim for ethereum is to have a more stable amount of coins entering supply and also initiate this kind of burning mechanism that makes ethereum more usable and more holdable for the long term, but back to the crypto news. For the day, the bank of england well um they’re going to keep printing money, which is exactly what we want.
It’S not what you want if you hold all of your money in a bank um that i don’t want to say, there’ll be a run on banks, because i don’t think there will be a run on banks, because there is so much cash in circulation. I don’t think that could possibly happen. What is certainly happening at this moment in time is, if you’re holding money in a bank, that’s earning less than five percent interest per year, every single year, you’re losing about five percent of your money. Now, given that most bank accounts in the uk are paying about 0 1 interest per year means everybody, that’s holding money in a bank is losing money and because they continue to print more stimulus that continually devalues that money. That’S in banks, which means that people look for stable stores of value to enter uh into positions in like gold.
Like bitcoin um, and this could be the next round of stimulus pumping bitcoin’s price, it would not surprise me to see that at all, we’ve started to see with gold over the cost of pacquiao past week. Gold’S price is really starting to turn around now and uh. Bitcoin is as well, if you actually look at the gold chart and compare it to bitcoin’s chart they’re, actually very, very similar. Continuing the conversation of debt bitcoin fixes this uf’s infrastructure bill would have 250 billion dollars of debt uh to their economy. They don’t the governments, don’t seem to understand that you can’t just keep spending money and it’ll have no impact on society.
If you keep spending large amounts of cash unless you’re generating huge amounts of income from that cash, that you’re printing you’re not going to balance out the equation and you’re going to end up with a very top-heavy equation that causes a devaluation of your currency. Now i i have this conversation with my parents the other day. Well, they said well, if everybody’s currency around the world is devaluing, then surely it doesn’t matter if we all have devalued currency because between each other, it doesn’t matter. But the point is you, as a person can buy less in your own country because of inflation? Yes, between nations you’re not going to be losing much money.
However, you don’t often trade change money to another currency and you only do that when you go on holiday or if your business, when you you might do it more often, but the point is you don’t change your entire life savings over to another currency? Every now and again, obviously, we all know the big time fixes this. Obviously we all know the bitcoin is deflationary and obviously we all know that there won’t be any more bitcoins printed and for that one reason, uh 21 million bitcoins. That’S why bitcoin is so valuable because it is have it has a capped supply unless people lose them and they go out of circulation, the supply gets lessened and, finally, in today’s crypto news, something that uh i find interesting is ksi is stuck by bitcoin um. I don’t know why he likes to talk about how much money he’s lost and he seems to be like the main topic conversation around ksi, the fact that he’s not made money in crypto.
He has definitely made money in crypto. I assure you of that. You don’t need to be worried about if ksi’s, making money or not but ksi anyway. He says that bitcoin is the future. He has a lot of young people, especially here in the uk, that look up to the guy and they’ll copy everything that he says.
Ultimately, ksi is like a gateway um for new bitcoin users and then i guess, as your knowledge develops and you come more involved in the crypto space um. You come to mod like channels like this, where we describe exactly what is going on with bitcoin and trading bitcoin in a more serious manner, which means hopefully fingers crossed. I’Ve got a bunch of ksi subscribers on the way to me right now and if you are a subscriber of ksi slap, a like on today’s video and subscribe, but anyway now it’s time to talk about all coins. Having covered the crypto news for the day, which is remarkably bullish, um the crypto markets as a whole look remarkably bullish. One thing i keep finding amazing is my uni swap airdrop is worth so much money now um, i’m so glad that i never saw my uni score.
Bear drop everybody that used in uni, swap before uni swap was cool, got given 403 uni-swap coins that are now worth about 8, 500 or 9 000, or something uni swap literally just gifted nine thousand dollars to every users. What an amazing airdrop that was! But now, let’s get down to some serious business when it comes to all coins, because l rund is up uh a lot and that’s looking really good in terms of its price. Now we all know that i, like elrond, i’m an early investor in 12 round when i say early investor, i made a video last year in december, investing forty thousand dollars at six dollar lrond and the price of it is now 120 per coin. I get messages from lovely subscribers all the time that decided to take that same trade as me, and you all changed your lives off the back of one trade.
So it’s great to see so many people that took that one now, one of my future players. I intend to be successful, hopefully is daffy daffy. A lot of you always ask me about staking daffy you’ll find a link to how to stake daffy in the description of today’s video it’ll be a link to this article right here. That is basically a tutorial on how to stake your daffy coins. It’S well worth while doing that, because, even while the price of the coin is fluctuating, even if it’s wildly fluctuating, if you’re earning 200 300 interest per year, it doesn’t matter what the price does, because the market cap is already so small, it makes logical sense to Buy a little bit and stair ki and that’s not financial advice, it’s common sense.
So the next thing in today’s video is umbrella again, you’re always asking me about staking umbrella coins. I forgot to put the link in yesterday’s video description. I will put the link to how to stake umbrella in today’s video description. It’S very simple: just click the link in the description and then press stake and you’ll be able to lock up your coins that way again the interest rate on these things. I earn so many coins from staking my coins, which earns me more money and then, when the price of the coin rises, it’s like this lovely effect of you just you just end up getting rich quite quickly.
Yes, i know that there’s no such thing as a get rid of there is it’s kind of called cryptocurrency, but there is no such thing as a get-rich-quick scheme, but certainly being smart, investing in projects where nobody else is investing in them and staking those projects. Until you have loads of coins, that, for me, is, is a risky but possible way to make a lot of money in a short period of time. Why is it a good way of doing it because i’ve done it myself and i’ve not done it once i’ve not done it twice. I’Ve done it, tens of tens of times i’ve been moving on from umbrella covalent again up today glad i mentioned it in yesterday’s video. That is looking very nice at the moment in time, and then we have uterus.
Uterus is up 30. Today, it looks amazing, and the reason for that is because they’re launching in over 5 000 stores around the world tomorrow, um amazing news. That’S adoption is that right there they’re, using wheezy um it’s gon na, be an interesting one. Is this? It also means that bitcoin is going to become more popular because you spend bitcoin via you trust.
It’S a way of you spending your cryptocurrency via it’s like paypal. That’S what utrust is it’s essentially paypal, but for cryptocurrency um make an account, see what you think of it. I like uterus, i use uterus on several applications and then the final altcoin in today’s video is ten set. Ten set is now two dollars and three cents down fifteen percent or down twenty percent of this bitcoin value, nice pullback on the price i bought a little bit this morning around two dollars. Ten set is a highly deflationary cryptocurrency.
That means that the supply – also it’s very there’s a lot of staking that you can do with this coin, so you can learn a lot of money from staking it, but at the same time, it’s very highly deflationary, so anytime, a transaction is sent a lot of The coins get burned, but i explained it in more depth in the video that i’ll link above my head right now, because right now, it’s time it’s time to analyze these prices and boy. Oh boy, are we looking healthy right now? Um? Currently, a nice amount in profit, actually, that’s ten thousand dollars, profit on ethereum and eight thousand dollars, profit on bitcoin. So overall we’re looking very nice there.
It’S been a great week. I can’t stress that enough. It’S been a long time since we’ve had so many things. Go right in a row and the last time that that happened was kind of at the start of the bull market or the last time that i felt this way that i feel now was at the start of the bull market. Not at the end of the bull market and if i’m correct in thinking that bitcoin is going to 100 000 this year, we’ve got a fantastic time ahead of us.
So please do subscribe to the channel turn on those channel notifications and by the way, if you are interested in joining my trading diary, which is where i post all of my trades as and when i take them for complete transparency on exactly what i’m doing. So. You can watch it and you’ll find a link to the trading diary in the description of today’s video. It is very important that you fill in that form correctly. It’S an automatic system that i’m using, we don’t store any of your data, but the automatic system that i’m using requires each of the individual criteria to be met 100 correctly, because, if they’re not correct, it won’t send out the link to you to join the group.
So please make sure they are correct for those of you that have applied and wondering where your invites are. It takes a long time as well to do all of these things, although it’s an automatic system, there’s a little bit of labour involved with moving things around and pressing buttons, and that takes a bit of time. So please do bear with us once you’ve applied. It can take up to two weeks to get your invite sent and then you can join, which is why i say: do it now? Do it right first time and then there won’t be any issues, but 80 percent of you did it wrong first time, but anyway now time to get, as i already said, onto the important stuff, bitcoins price, if we break through 41 000, i will be going very Heavily long because 41 000 would be an extension of this resistance level that we have here and that resistance level as soon as we break it opens up that 42 000 level and 42 500.
Should we break through it. That opens up forty seven thousand dollars. All we need to do is trigger those resistance levels and break through them, and then the price will start moving at the same time to warn you of the downside. If bitcoin breaks through forty thousand five hundred dollars is very likely that bitcoin will drop back down to around 40 000 and 40 000 is a little bit crucial for bitcoin, because if you crush through 40 000, you end up dropping back down to where we were And then things start looking pretty gosh down nasty again now i’m favoring the upside, given that we are now bullish on the four-hour chart if we flick over to the daily charts, we’re still bullish on the daily chart. If we flick over to the weekly chart, we’re about to take bullish on the weekly chart, so of course i’m favoring, the upside.
There will be some massive volatility over the course of the weekend, or at least that’s what i’m expecting. I intend to trade that volatility and i intend to show you all of this on the channel, because i upload every single day so subscribe and turn on channel notifications and like today’s video. Now it’s time to analyze. The price of ethereum ethereum has now broken to the upside of this bull flag on the one hour time frame. Interesting one is this: it’s likely that that is not actually the bull flag and will probably just top out again around 2 800 before dropping back downwards and kind of forming a slightly longer pennant formation.
I’M essentially waiting for ethereum to take bullish here on the one-hour chart. Should we take bullish on the one-hour chart? Ethereum is very much looking to the upside, but when it comes to the price levels to be watching on the price of ethereum at this moment in time, all you need to be watching. Is this level here, two thousand seven hundred and forty dollars? If we break below two thousand seven hundred and forty dollars is very highly likely that we will then eventually start crashing back downwards towards that two thousand six hundred dollar level, it’s possible that that happens during the course of the weekend.
But it’s important to remember that anything that happens on saturday will more than likely be undone on sunday evening, because prices generally reset come monday morning to resume trading at what they were at on friday night. Because this stupid thing called the cme gap exists and we fill it every single week consistently at this point in time, the cme gap essentially acts as a magnet for bitcoin and the ethereum’s price it brings them back to where they were trading at on friday. On a monday morning, but anyway, let’s flick through the time frames on ethereum to get an overall gauge of how the market’s looking it looks. Great um. The only problem that i foresee with this is we do have this bearish divergence here on um, the rsi that doesn’t look the best.
It’S always a little bit disconcerting to be seeing a bearish divergence. However, now the only thing that concerns me about the way that bitcoin’s price looks at this moment in time is this bearish divergence that we see here um. It is really the only concerning thing that we see. I don’t really expect it to play out, and at least we have some more bullish room within this for a little bit of a price pump upwards before the inevitable retrace that i’m expecting on kind of sunday afternoon, i’m expecting a fairly good start to the weekend. With a fairly bad end to it, however, i can’t predict that, and really all we can be looking at is the support and resistance levels for now being that we’ve had so much of an uptrend.
If we keep smashing through these resistance levels, we’re gon na have a very very happy weekend and, of course, if you are interested in trading links for trading in the description of today’s video, i’m also trading on xbt, which again you’ll find a link in the description On primexpt, not only can you trade bitcoin, but you can trade ethereum versus bitcoin, you can trade ethereum alone, and if you don’t want to trade any cryptocurrencies at all, you can trade traditional financial markets with bitcoin, which i mean they move a lot less frequently and Also, they don’t trade on weekends. So if you start trading stuff like that, you get weekends off, which is a possible advantage. If you want to haul bitcoin and trade bitcoin, but you don’t want to be caught up trading bitcoins price on a weekend. Well, maybe you want to try traditional markets, however, again, please make sure you are able to use these exchanges from your local jurisdictions on another guys. Thank you all very much for watching, and i will see you in the next video.
Please make sure you have subscribed and liked today’s video um. It’S been a good one. It’S been a great week and i hope that we can replicate the successes of this week next week and also made enough money to go and buy the bentley that we set out to uh this time, maybe one more week, and then we can afford that bentley. So i will be bringing it to you, but it might be a lamborghini, i’m not sure yet i might might want a lamborghini or a, but i’m not sure you might think, i’m being a little bit bossy about it. But i’ve been wanting a new car for a very, very long time.