Are Bitcoin and Ethereum Planning a "Surprise" Move? | Alessio Rastani - Двуязычные субтитры
All right, guys.
Hello and welcome to the special video.
We're joined here today by our good friend and trader Charlie Burton.
And in this video, we're going to talk about the number one market and crypto, which many have been asking about, which is Ethereum.
And we'll quickly mention Bitcoin if we can.
well in this video.
Orgais, join us.
Orgais, welcome back.
Now, Charlie, by the way, welcome back.
Hope well.
Thank you.
I care of us, Charlie.
You said I was a overdressed last time, so I went a little bit different this time with the...
Well, you've gone casual.
I've now got the shirt on.
What's going on?
We've a roll with her.
I know it's well I went for a different my my friend calls this my friend calls me this my PUA out it I don't know why I'm not I'm not into PUA that kind of
stuff at all I don't know what that means I would say PUA stands for pick up artist.
Oh, I would just call it your Miami Vice outfit.
I'm a big fan of Don John.
I used to watch my voice.
Don John John John John.
This is great.
Yeah, it's our era watching wonder what we're talking about probably, but Okay, let's get down to it.
By the way guys before we dig into the charts We just mentioned Charlie has a fantastic offer which will tell you more about at the end of the video
So make sure you check out this link for 30 days free access to Charlie's Gold service.
That's the link.
You see there, cholibertontrading.com forward slash LT Gold.
Charlie, listen, in the last video we made,
there's actually something I wanna mention before,
I got,
I got some criticism in my last video because some people,
and listen, the majority of our viewers, the majority of you who watch my videos, I know you're intelligent and sophisticated people.
Okay, so this is by no means about you.
There were just a few people, I would say some very lazy nincompoops or in the seals, who basically criticized and said.
Oh, your first 10 minutes of your video was just talking about your previous video,
as recapping and reviewing what you said in the previous videos.
And therefore, that was a waste of time.
It was worthless and it was useless.
First of all, I don't know who thinks like that, Charlie.
Honestly, I don't.
Because if you actually watched the first 10 minutes,
you will notice that what we tried to do,
what I tried to do is first of all, explain what Charlie was thinking when he said that Bitcoin was going to drop to 20k.
He was talking about psychology.
herd mentality, the price structure, you know, the previous lows, very important materials from Charlie.
And also the bits I mentioned was what Elliot wave theory, the process was going in my mind about support, support levels, the key levels.
So listen,
if those nincompoops and those lazy people out there,
if they think that's useless and worthless,
then listen,
those people have no No,
you know,
no curiosity,
no intelligence whatsoever,
in my view,
those are the kind of people who just sit watch,
you know, binge watch on Netflix every single day, and don't want to learn a single thing.
As I'm sure most of you know, again, I know the majority of our viewers are intelligent people.
I know you appreciate that knowledge is power.
Okay, now get that out of the way.
Let's talk about Ethereum and Bitcoin.
Charlie, listen, in the previous video, you mentioned that you thought that Bitcoin may potentially drop further lower in the next several weeks and months, perhaps.
But I think I think you might agree with me on this.
that maybe in the short term,
maybe in the next several few weeks,
maybe several days and weeks,
I think there's a chance for some kind of reversion back to the mean because it's so depressed,
I think it's been so oversold recently and a lot of negative sentiment, very sentiment I think has been going on.
I think that there's a chance,
maybe you agree with me on this,
of some kind of reversion or some kind of short term bounce,
some kind of reversion back to the Oh yeah,
absolutely, you know, when we talk, we're talking globally a of, when I say globally, I mean, a big picture a lot of the time.
So right now,
if we look at what's just happening in recent days is that we're seeing yields
and the stock market's securing that a little bit because then the stock markets are a very
fickle beast and the stock market's looking at falling bond yields and thinking ah so the federal
reserve may not put interest rates up quite as much as we even thought just a few weeks ago and
if the stock market start going up again we have that risk on appetite and risk at on will spill
over into other asset classes so yeah yeah totally agree.
in shorter term,
it has had a pretty good run to the downside and in the short term, yeah, absolutely could have a bit of a bounce, yeah.
Yeah, I agree with you.
Let's have a at the of Ethereum quickly and then we'll turn our attention to some other matters.
Right, here we go then.
So, yeah, Ethereum, really, I mean Ethereum put in a low LSCO back in sort of middle of June.
And here we are in early ish July.
So, a few weeks ago that Ethereum put in a lowest point.
And so it's failed to make a new low so far.
It's attempted here.
And it's a fail to make a new low so far.
So...
you're absolutely right as a as a reversion to the mean as you've quite rightly said you know markets I always say they breathe in and they breathe out they don't just go in a single
And even if a market's going to go up to here,
how it goes about doing it, it might be, you it's step approach or whatever.
So, yeah, at the moment, the scope is there for a retracement, whether it be to a moving average, or if I bring my pen up here we've got these prior lows, oops, here in this
sort of zone.
So, there's scope there, and that would still be in the context of this.
downwards move on the on the daily charts at the moment,
but certainly there's scope there for a Retracement, yeah, absolutely one interesting thing I found Charlie.
I wonder if you can maybe show this maybe it's possible Can you just zoom out a bit so we can see the all-time high how much zoom do you want?
I yeah, that's good.
That's good.
That's good and if you do This is just something I noticed recently,
which is that if you take the tool in the, it's called the Fibonacci extension tool.
And if you just choose that from the left-hand side,
it's the second option on the right, on the left, if you just click that option to bring down the tools, yeah.
And if you just choose the second, yeah, that one is a trend-based fit extension.
Oh, there.
Okay.
If you just do a measure that first wave down the first from the top all time high to the low we made in January February,
I think it was, and then project that from the high we made in April, I believe.
Yep.
Okay.
And if you just going to settings and extend.
that.
Okay, if you can just remove everything except the one, the one that says one, the one extension, yeah, extend lines to the right.
There's a box at the very top.
There, there, there.
Anyway, what is interesting about it is that it seems that Ethereum, yeah, so what we've done here is we've done the 100% projection, non-logarithmics, it's a linear
linear projection.
The theorem can very close this 100% measured move to a 100% symmetrical move down.
Yeah, perfect.
Well done there.
Thanks.
Thanks Charlie.
Yeah.
Yeah.
So I just find that interesting.
Now, whether that means anything, we shall find out, but I just find it interesting that.
The theorem made a 100%.
extension there on the chart.
But anyway, we shall see what happens there.
Just out of curiosity,
going back to what you're saying,
Charlie, if we did see some kind of retracement or a version to the mean, what would be the level you'd be looking for on a serialized resistance that it may
that it may potentially test?
Well, Looking at the weekly charts to start off with, the typical sort of things that we would look at in technical analysis would be if you break a prior high or you break a prior
low, then you look at that as a resistance.
This level here,
we can see it was quite a significant low back there on the weekly chart,
and can see that it tested a few times here, tested again here, and then broke through.
So that zone there that I'm just penning on,
which is, we're looking a little bit more detailed in a minute, but it's somewhere above 1600 to 1700.
it would be a good resistance zone, looking at this in a technical manner.
So if we got a bit of a bounce coming, then that would be a level that I would be very much interested in, yes.
So that zone there.
Is it still here?
when we see a bounce let's say we get a reversion to the mean or not is it still
your view your opinion that we could get another drop down to retest the lows or
even make a lower low because I think you Do you have a similar view with Ethereum person?
Of course.
Yeah, I can't see a Bitcoin, if Bitcoin was to come lower, then I can't see it coming lower without Ethereum as well.
So if that is the case,
if that was to happen in the coming months, then I would expect Ethereum to come down with it in a risk asset sell-off.
Yeah.
So that's what we've been seeing so far.
They've been moving very, very similarly, not completely, but they move very, very similarly to each other.
So highly correlated markets really.
And unless they disconnect, and it does happen at times, that these markets will disconnect and those correlations will change.
But for a while now, those correlations have been quite positive.
that for anyone who's not sure is that you're seeing very similar patterns and similar movement
overall whether you're looking at a chart of Bitcoin or looking at a daily chart of Ethereum as well.
One thing I want to say, Charlie, is that often when Ethereum leads or outperforms Bitcoin, now shall see if that happens.
I think so.
case.
Usually when Ethereum leads an outperforms Bitcoin, that's a good sign, a positive sign for Bitcoin as well.
As far as I've noticed in the past, and we shall see if that continues or whether that happens to be the case.
Before we finish, guys, please check out Charlie's brand new service as Goldman which you can, by the way, access for free.
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Just a brief synopsis for everyone who may not be familiar with your service.
Charlie?
Yeah it's a trading service.
I've actually been running this for since March of this year.
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But they get full access.
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I've known Charlie for almost 14 years now and he's been a successful trader now for nearly over 24 years I think 20 20 years and
24 yeah out of all the traders.
I know definitely Charlie is definitely one of the people out there.
I trust the most.
He's a fantastic guy I'm a great person to hang.
My wife will disagree.
A person to hang.
Not me.
But also, you know, the one person I can definitely say, I trust when it comes to both charts analysis, but in just in.
So definitely guys do all the risk right now is with Charlie because giving you 30 days free access to his trading room
And his all of his gold gold service so do check it out.
Give it a test drive All right guys
And by the way offer is gonna be there for a time period
So take advantage of it now while you can thanks very much Charlie really appreciate it
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