So I want to jump on. Do a little livestream with y'all, so if you're hearing me out there, let me know I want to make sure the microphone everything is going well and if that is going well here guys, what I wanted to do was read you a little something this is from Using technical analysis, a step by step, guide to understanding and applying stock market charting techniques, and what this goes on to say is buying stocks and putting them away. Another approach is to buy a blue chip stock or other well recommended stocks with the intention of holding it indefinitely. This tactic is based on two assumptions: number one: a company which has high profits today will maintain them indefinitely number two. The total return from this investment will outpace any rate of inflation in the long term, hoping to select a company which will maintain a high level of profitability, for the long run is a guessing game which becomes increasingly difficult as the length of time is extended. An industry with high profit margins today attracts many competitors until those margins shrink drastically. Almost every industry progresses through a life cycle of highly profitable initial expansion, slowing growth maturity and eventual decline. For these reasons, planning to hold a stock forever is more likely to result in a roller coaster ride than a successful investment, so that's, something we always have to be thinking about guys as people talk about the huddle, the huddle, the huddle and what I'm gon na Go on to here, quick is a more rewarding approach to the stock market.
What they're, basically saying here is, if you just buy with the hope of that or the anticipation anything in the world can take place just like we've seen with the pandemic around the world. No one knows what's going to happen so that's. ለምን, in terms of technical analysis, looking at the buying and the selling that's going to be the safest and trying to play these swings so that you're not caught with a 40 drop in a day like Bitcoin likes? To do I mean that just is the name of the game and what it goes on to say here: a more rewarding approach to the stock market. The approach is described above fail because they are based on unreliable and a row information. If you have tried researching companies, you know how difficult it can be to obtain current information about a company and its prospects for the future. Research reports are available, but have literal no value, because the information they contain is usually already reflected in the price of the stock and you'll, see that all the time guys that's something that you really need to pay attention to. But what this goes on to say is through the use of technical analysis. You'Ll be able to number one interpret stock charts to make more informed decisions on when to buy and when to take your profits, determine whether excess demand is likely to push prices up or excess supply is likely to push them down.
Use moving averages to increase your ability to hold stocks for the long term, appreciation spot stocks which are being accumulated by better inform investors for long term, capital gains so that's. What I'm saying guys? I just want to be here to kind of help you in terms of technical analysis and looking at a different way. I know so many people just want to huddle out there so we're gon na look at that different. What we're gon na do here is get into Bitcoin first and guys I'm glad to have you here, everyone's saying the volumes doing, okay for you and, if so, we'll get into this. So what we're? Looking at for Bitcoin here, there's gon na be a Bitcoin on the one day time frame and why this is still just such a sticky situation for us guys in the macro sense we're still having the lower highs coming in. So we still have all that overhead resistance, the stiff overhead resistance. We especially have now is 10000 psychologically, which we need to get up above and turn into support and then it's gon na be this 10500. This is stiff resistance and that's. Why you're seeing right now? The volume drying up and you're, seeing these cameras almost doji candles at the top here, because guys, who aren't in a position right now, they're nervous to jump in when you have all this overhead resistance right up. Above you, a lot of people like that, would rather wait for us to turn 10000 into support, or even that 10500 and then start making moves to the upside and maybe work this gap from 10500 up to 12000 369.
That more so, would be the area but it's just tough right now guys because we're having mixed signals, macro sense, we're having the downtrend, our secondary trend is still up. You can see this yellow trend line. We have. We have not broken down below it. We'Re still up above our 20ma we're up above fifteen we're, still trading above the 200, which we found support off of now. We found support off it and we made a move up, but it wasn't on the most volume there. So this could just be a weak reaction, but we'll have to see the trend here in this in the secondary is still up, though, and you can even see our volatility stop on the one day. Is it eight thousand seven hundred thirty three so that's saying if you're an along that's, where you would most likely once your your stop loss to be? It calculates the volatility the market for you, I really like it and sometimes, if I'm, using the stop loss, I'll use the volatility, stop and maybe even go a hair lower than that. Just because of how volatile crypto is, but you can see all through here, look see how close it came, but this volatility stop kept you away from basically getting stopped out for the most part it's far enough away, but it's also going to protect you. If you have a huge dump like we had over here and that's the beauty of stop loss, you don't want to wake up with 40 percent of your account gone, because Bitcoin went crazy while you, while you were asleep at night, that just is what it is Guys in terms of trading view, we'll take a look at this.
We have four overall summary. Now we have four first sell nine neutral 15 buy oscillators or at three sell, eight neutral zero buy and moving averages like we talked about we're up above all, the important ones we do have a strong buy on those, but we have to be careful it's. Just an area we want to be careful in that's the best thing that I could tell you really watch this trend line as well, and then, if we go to our RSI, what you also have here, our price is almost at the same price that it was Back here and our RSI was about 83, and now our RS is at 63 right now, so we do have a little bit of that divergence there where price was moving up, but our RSI was not reflecting that so that's. Why I'm saying guys we're just having a lot of mixed signals? There'S a lot of bullish signals there's a lot of bear signals and right now the candles are getting very tight and that's going to show that we're either gon na start breaking hard to the upside. Here soon, maybe in the next day or two or even today, or we're, gon na start moving to the downside here, most likely when those camels get tight a lot of times like over here, a break is gon na come we're. Just gon na have to wait to see protect yourself that's. The main thing I can say so, I'm gon na come back.
Talk to you guys, quick here, then we'll get into litecoin. So do you see that, like with Bitcoin, why this is a sticky area, guys when you have all that macro downward pressure? You know what I'm saying that's that's a very difficult spot to say: hey! I just want to jump in the market right now, if you're still in a position going by the textbook here and this isn't financial advice. But if you're still in a position, you would want to stay in this position because you're still up above the important moving averages right now, so it's really just a waiting game to see which way we go good, guys loud and clear hi from Spain. That'S awesome. You know what my opinion on oMG, I like oMG, guys that's, actually, one of the ones where I've talked to people before, where you just have those little hot, Oh bags and you speculate and it puts them away. Omg is one of those coins that I've always liked. You know it may not pan out, but for me with how cheap it was to pick up, you know three to five hundred of those and see what it does it before was out there around thirty dollars before so you never know say you have 500 of Those you pick them up for a dollar or whatever, and it goes back up to even fifteen bucks or some have to half the price that it was you're cruising.
So sometimes there are those necessary hey. I want to take a gamble here. It looks like a decent company. I'M gon na buy some spend three four or five hundred bucks, and if things really hit, then you can do well that's the way I like to look at it, but in terms of having all your money and just huddling, I think that's very dangerous guys in This space it's very dangerous hi from Singapore, that's awesome, so we're gon na get back over to the charts here. We'Re gon na go into litecoin next and we'll. Just take a quick look at that and guys also, if you get some from this channel and you like learn and you like the way that we present this like subscribe, hit that notification builder likes or what's really gon na help us out here I mean it's. Just so hard to get buried by all the all the bigger channels and everything so anytime, you guys like comment anything like that. It really helps out. I appreciate it so we're at 45, 69 cents here for litecoin what's been making me a little bit nervous for like when. Why said this is one I wouldn't really want to be in a position right now. You know, could we continue to run hard to the upside? Yes, we can, but what we've had here? We still have our 200 moving average on the one day time frame here, acting his overhead resistance and that's also going to correlate around another resistance area that we went up to it 51.
So that's going to be staunch overhead resistance right now and what we also had was a trend line break. So here was the trend line that I was following and you can see we had a very power downward candle on heavier volume and now what we've had we've had this reaction trying to get back up in this trendline, but it still hasn't been on the most Volume we got a little more volume about two days ago on this candle here, but still you can see the volatility stop is even to the downside, so that's going to tell you that we're short term. Now we are in a downtrend and then overall guys. You know it's just a tough spot when you have that 200 moving average pressing down when you're going along. You typically want to be up above that, and you want to be up above the 50, which we are fighting with right now, we're kind of getting squeezed between the two. But if we go into trading view for litecoin here and we'll, take a look. What we have overall summary our oscillators about dead, neutral here summary six sell, 10, neutral, 12 buy and then moving averages. We have five sell one neutral eleven buy. So what you can see is on the shorter term here we're having buy signals for our moving averages and then basically, this Y says tough spot here for all of our oscillators we're, basically throwing neutrals and then you can see a sell and a buy there.
So it's just a tough spot for me, I would want more confirmation before I would just go jumping into litecoin right now, but that's just me, I'm, a more conservative trader. I want to be completely aligned with the trend and I want to see it moving up. Strong and steady, and a lot of times I like to buy after we've had a huge pump have one of those really nice retracements, buy that and then try to ride, write it back up to the upside that's. What I like to do so litecoin guys that's. What you're seeing here we need to get back up above really, I would say, 50 50 psychologically, which also correlates with Bitcoin at 10000, so that's going to be litecoin and then next, one we're gon na go into aetherium. We'Ll. Take a look at that and that's at 204. I just want to check in you here hi from Germany. This is awesome. It'S amazing, I didn't know so many people from different countries were out there listening so that's that's great. We have 77 people in here guys. So it's cool to be here with you. Thank You, Gabriel, smash that, like from Ireland, this awesome from San, Diego California yeah. So, basically guys I had clients earlier and then I had just a little break right now. That'S why I was trying to run onto a livestream, then I have to go back to my business here. So all right, so we're gon na get into aetherium.
Take a look at this, so a theorems at 214 and what I did like about a theorem. We finally got through that overhead resistance thereof. 205 we've been talking about that for quite a while, because you can see the significance of it here. We got up above it, we fell below it, we got up above it, we fell below it and now we're back up above it with candles tightening and what you can see is this yellow downtrend here. So this show in the macro sense. We were in that downtrend secondary we're in the uptrend, and now what we're trying to do is get a trend line break and if we can get a 5 daly candle close 3 ወደ 5 up above this yellow trend line, I think we'd have a real great Shot at getting up there around 247. Remember all this you know depends on Bitcoin guys, it's gon na depend what Bitcoin wants to do, but if I'm just looking at aetherium here, if we do get this trend line break and we set a higher high here then about that 218. That would really give us a shot up to 247, and then we could have a shot to about 285, which would be nice now in terms of our volatility. Stop we're at 189. 95 right now is where they're saying you'd want your stop. That correlates right around that 50 moving average here and overall, I believe the support we need to hold is 175 and that's in green here, because we have back tested that and we made a move off it but same deal with the theorem here.
Do you see the volume lacking so we're moving up and for us to have a true trendline break? You would want heavy volume coming out of that trend line, break to show that it's a true move, a lot a lot of times in the crypto space. You get that quick move to the upside, and then it just all sells off on you, and you have to be very careful for that now in terms of trading view. We'Ll take a look at this overall summary. We have three sell: eight neutral 17 by moving averages, you're all looking, basically a buy there, you can see and then oscillators a little bit more mixed, like we were talking about neutrals, buy cells, and this will just kind of keep you in alignment with everything guys. So, like we said in the secondary term, here we're still in an uptrend it's, just we're getting to that area. Now, where we need a trend line, break it's, either gon na act as strong overhead resistance or we're gon na break through it hard on heavy volume, and we can go up there and really hit some good numbers and that's. What I'm looking for I'm hoping that's? The case but remember in this space guys it hope you don't want to hope you want to have a plan for the upside and a plan for the outside thumbs up from Hall and awesome Watchmen there. You are my man what's going on and they do.
Yes, they all appear at critical, junctures yep. It depends on a bullish, move from Bitcoin and that's. Why everything's just holding right now it's waiting to see as Bitcoin gon na make that strong move up above 10000 and can we find support off it it's so important that we find support off 10000 awesome, South Texas and guys? Let me know right now. What are you in right now? What coins are you in? Are you sitting in cash man I'm jealous Orlando Florida, my grandma lives in Florida. I was in Florida for our vacation, absolutely love it guys she's in Tampa, alright. So what we're gon na do now? We'Re gon na get into digi byte that's, just gon na be a quick one. Now we'll come back and talk with you all for a minute, so we'll take a look at busy bite I'm trying to find guys. I don't want tether. One second I'll find one with some decent length here for you, so we can see all right. So did you bite on the one day, time frame and this what we've been talking about people who've been here watching? Did you bite guys whenever you get up here and you really have that high selling volume and you can start to see these candles, like the dough Z's, that type stuff that can mark tops for you, and you can start understand that you're gon na have some Type of retracement, so what happened? Was we had our retracement? We had a bullish engulfing candle off this 20 here, but what we did we didn't get up here to make a higher high, and that was our problem.
So now what I would look at for support is this 50 moving average and right now guys say I wasn't. In a did you buy position, I wouldn't be jumping in right now, trying to just fish for that I'd. Wait for some type of confirmation to the upside that's, just sticky spot all the way around, but in terms of the 50 moving average here that's, we would look for support at 0.01, 2, 9, 6 it's. What we look at to see if we can find that, if not there, it would be about that zero point. Zero. One 102 is what I would look at, but you can see the volatility stop, how it started flipping now and it's in red that's, going to show you the trend we're in a short term downtrend, and basically, what that saying is. If you were shorting that's, where you would want your buy, stop right in that area and that's, why I loved guys this volatility stop on trading view, it's awesome, because it helps just align you with the trend and that's so very important. You always want to be aligned with the trend, so in terms of trading view now for digi byte we're gon na take a look at this we're throwing 13 sell 8 neutral 7 by moving averages, 10 sell one neutral six buy and then our oscillators three sell. Seven neutral one buys that's why I said this is one I just I wouldn't be jumping into right now.
I would wait to see if we have more of a retracement, because guys in this space, when we move really hard, we always have those deep retracements. I mean we could come all the way back to the 200 moving average here before we got the next move. That'S, just is what it is: that's how the space works and if you're in the space you have to realize, and also do you see how this top up here we were topping and look what was happening with our RSI losing that strength. These are telltale signs, guys that I wish I would have known when I got into the market in 2017 I'm just telling you – because I was in in that aprilmay area or whatever, and now I mean that's. Well, I guess what prompted me to study this hard. So I'm glad it turned out the way that it was, but now would be telltale signs, I'd say: hey, dude, take your profit, get the heck out of here and then you can rebuy them. For you know, 50 percent less price, so it just it is what it is and it's learning experiences and what I said guys to myself truly I'm, a very competitive person. I played baseball basketball football. I was in karate all different types stuff. I love competition and for me basically getting so kind of burned by the crypto market in a sense because I saw all those profits and then I let them go away and it was almost more of like a break even type deal for me.
But it fool me once all right, but you're, not gon na fool me again and that's, where I just went on a rampage of studying, trying to learn everything that I could because, as I see in these books this stuff, if you can understand this technical analysis, Is where it's at because it's going to show you the buying and the selling and if you can understand the buying and the selling and align yourself with the trends that's, what that's? What it's all about Oceanside San, Diego you're, killing me I'll? Enjoy it yeah see people talking about two sitting in cash waiting to see litecoin yeah the whales do play the opposite of what feels natural a lot of times yeah you can be. You know looking at a chart pattern, that's ready to be an ascending triangle that breaks to the upside 70 of time. You can break to the upside, and then you can just fall through the floor in the crypto space and that's the importance of stop loss. These guys, I know it sucks when you get whipped out from time to time, but that's your insurance that's. The cost to do in business is what you have to realize with that, and then you look for the next trade. So, basically, when I say take my profit so say I bought a coin for 100, say I'm trading, one of them it goes up to 120. What I do I would take my profit of that 20 now I'm.
In my exchange, I have a hundred and twenty dollars and I'm sitting back waiting for the next opportunity to buy more, even if it's of that same coin, and then do it again and do it again and that's that's the ticket volatility stop on light coin. Let me see you here and guys: it's just a rough estimate. The volatility stop. But for me I like looking at it, so the volatility stop right now is at forty, seven ten it's, showing that it's in a downtrend right now so that's, actually showing where your buy stop, would be so there's, not even one below, because it's not showing that Uptrend it's in a short term, downtrend is what we're looking at there what's going on Michael yeah and a that's that's. True, too, if you want to do the long vision and everything a like, I said, have small bags or whatever, and do that absolutely 90 XRP yeah guys it just sucks when you're at the mercy to market. I guess more so what it is cuz when your money's in and you're not trading, and if you're not aligned with the trend, then you're at the mercy of the market and anything can happen, and we know what happens in this space. No problem watching. Okay, guys, you know what one one more quick thing here: I'm gon na go we'll take a quick look at X. Rpi, put that in the description now come back to talk to you one more time and then I'm gon na have to run and we'll.
Just do a quick one here on x, RP it's at about 20 cents, 20 cents now, alright, so for x, RP guys same deal here. Volatility stop is at that buy stop here and that's, showing resistance and that's gon na be at 21 and a half cents. There so what x RP is doing now it's getting squeezed between this 200 in this 50, so a break is gon na be coming fairly soon for x, RP it's gon na have to make the decision to you either get over top of that 200 moving average And turn into support or guys it could be a dive down to that 0.178 v. 3. This an area of support I've been looking at for quite a while here and then guys. If that didn't hold it, it could go low because the problem with x RP just to show you here and remember all this can change guys over here X, RP is at 25 cents and in the matter of a day I mean it tripled its price. Almost so anything can happen in this space, but what you can see in the long term here, do you see these lower highs? This is a nasty nasty downtrend that we've been in. We even set a lower low down in this area. If we were to have another lower low, we could be looking at 7 cents down in that area. So this is a very sticky spot and you can see the reaction that XRP had here.
Didn'T, come on a lot of volume, so that's, where it's just making me nervous guys, apart from a manipulation, pump like this, where we just start moving hard to the upside, because the bigwhale steps in that could push us up. You know the 30 cents whatever this is a tough area to be in for X, RP and if we take a look here at trading view, as you can see, 9 sell 9 neutral 10 by moving averages or neutral because we're getting squeezed there and then our Oscillators are to sell so that's x, RP, guys and that's, where you just have to be careful from the UK what's going on guys. I'M glad all the people who are here. Thank You Jimmy. I appreciate that so guys. I got about two or three more minutes here. If you have any other questions that I can help you out with, or you guys even put two, what do you think is Bitcoin gon na break through 10000? Is overhead resistance, or is this gon na be a big dump? I really want to hear your opinion because right now, I'm mixed completely I'm just waiting patiently waiting, I would say in the macro sense I'm, more bearish in the short term, I'm, a little more bullish. Just because those higher lows are still coming in for Bitcoin, so that shows the buyers are stepping in, but we just have a few different problems going on with it as well: hey that's, exactly right, general tsao's.
So what you want to do, and I've been trading for about two years now. I still play very small positions. I macro trade. A lot of my trading will be between a 500 dollar position about a 1500 position and that's. What I would like to work between right there, I don't, want to get too overextended because I'm still learning this stuff and truly guys, I'm still a beginner at trading this this takes years and we're going against guys. Who'Ve done it, for you, know, 30 years and algorithms and BOTS and everything else, so I like to keep it small and I like to see how good I can get at trading before I want to start playing with big money, some guys uh. Oh believe me. I hope it goes to the moon, I mean guys, I I want to see Bitcoin and crypto and all this six cd, like I said I got some crappy hotle bags that are collecting dust, that it would be awesome. You know if they could go back to where you know the top was in 2017 shoot. I mean it'd, be life changing and then, like I said, if I could ever have an opportunity like that, then you have a really nice account. You can trade guys and it can change your life right. It can easily happen right. It'Ll, take a home run day, that's right yeah. We need to get through ten thousand five hundred dollars that's because we have we've had those macro lower highs coming in and that's right, general south, only the whales and that's the thing we have to ride their coattails so that's.
Why I try to plan so I'll have a plan. I'Ll say all right. If there's breaks to the upside here, I'm gon na try to ride this, you have to try to ride their coattails, but also be cautious because they'll dump on you real fast as well. Alright guys, well, I got to get back to work here, I'm glad to be here with you. If you get something from this like subscribe, hit that notification bell, I appreciate all your mark.