This trading sin is all about. The refusal would take all losses on a bad trade and get out another word, for it is plain old stubborn. Why do people resist taking small losses and moving on to better trades it's, because they don't want to admit that their decision to get into it wasn't anything less than brilliant? They don't want to admit that they were wrong about the stock. I don't know about you, but I think it's, ridiculous and completely counterproductive act yourself to be right about everything that you do. How can any mature person pretend to be right all the time me, this is childish and really silly. If your person realizes that he's going to be right, some of the time and wrong some of the time tries to be right as much as possible when she's wrong. She admits it right away to herself and anyone else concerns its over it and moves on in the right direction. One thing you have to understand about trading number one rules of the game lock in profits, religiously, no one ever went broke, taking profits. Number: two greed equals death. Pigs get slaughtered number three swing for singles, not for the fences and often you'll hit a home run anyways, and this what I wanted to talk about today, there's so many people who get trapped in positions because they don't want to take her small loss. It'S happened to me before and then before you know it as an efficient like this, you see a bearish engulfing candle up here and we're, starting to move to the downside and you've rivet written this all the way up and we've had a trend line break and You don't want to get out and then all of a sudden you have a traffic loss and that's what blows up people's accounts and then they never want to trade again or they never want to be in the crypto currency against me, it's, so very important to Realize that you're gon na be wrong to set those stop losses and manage your risk.
One thing really manage that risk and what we're gon na do today, we're gon na get into Bitcoin litecoin aetherium and did you bite we're looking at those four we're gon na? Go through some of the bullish things we're going to go through some of the bearish things and one of the bullish things that we've been looking at here, like we've, talked about the other day with finding tweezer bottoms off this trendline right here. So a lot of times when you'll get those tweezer bottoms that can be the area and that also came off that 200 moving average acting and support what we need to do now. The most important thing for us is to get up above and thousand dollars and turn that into strong support and never look back. As I can't tell you how many times we've went up above ten thousand, then we've lost it. Then we went up above it that we've lost it. We need to turn that into solid support and never look back again and have that attempt of dollars, and you know, as we've continued to go through this. You know how many people have told you that Bitcoin at this 2020, having would be worth a million dollars or a hundred thousand dollars and that's, not the case, guys that's. Why we have to go off and I'm, not saying that to disparage anybody else or what they're doing but I'm saying? Realistically, we need to look at the market in a realistic and when anything goes straight up.
There'S gon na be profits that are taken, and now you know, we're, basically still dealing in the macro sense bubble from 2017, so we've had all eighteen, all nineteen and a half of 2020 and we're still not even fully above ten thousand dollars, and we haven't turned Into support yet so that's the key for me, if that turn, that into strong support the next area that we're gon na look at that we need. We can see this on the one day time frame here. We need to get up above that we'll call it that ten thousand 48 turn that into support. Then it's gon na be that ten thousand five hundred dollars. If you take a look at this and we can even go out to twenty thousand dollars, they just want to show you on this part of the screen here. This was our 14000 top and you can see we've had these lower highs coming in. So if we cannot now get over top of this 10000 and then that ten thousand five hundred dollars, that would be nothing but a lower high and we potentially could have a big failure there so that's why we have to be careful now, I'm, not saying that's. Gon na happen, but on this channel we look at the bullish, the parents and the sideways it's. A no nonsense. Channel it's just is what it is. You know I'm, not gon na puff you up fluffy up and get your endorphins go and say: bitcoins go into a million dollars.
If you want that for light coins going to five thousand dollars by the end of this year, you got to go to another channel, guys we're gon na take this price action one day at a time, we're gon na take a look, but right now for Bitcoin. We have to get up over top of this area here, that's gon na be so critical for us to finally break out from those lower highs. If we can break out from those lower highs and get up above 10500 turn in sit support, then we really could have a nice shot to run up to 12000. We can start talking about the strangest or just not there right now. What we're looking at is when we had this downside move or this retracement here it came on heavy volume. So now what we're looking at is more volume, because this is our reaction here. We need more volume to come out of here and push us over top of that high, because we want to keep the higher highs and higher lows coming in. This was our high or low, and we found some port off that 200 moving average, both Bitcoin right now. What I do like on the one day time frame were up above our 20 DMA we're up above our 200 and our 50, and still up above this trendline. So if you're in positions it's, where you still want to stay in your positions, because we have not had any thing break forth, basically we're not below the 200, we haven't broke the trendline.
Those are the things where you still want to stay in your position and, if we're looking here at Bitcoin I'm creating view we take a look at this. One would just look at some of the oscillators here. What you're looking at now is to sell and neutral by that your overall summary, the oscillators to sell nine neutral zero by and then our moving average, of course wrong and that's, because or above the 20. The 100 100 that's very important for this. You go down through here. You can see we're losing a little bit of momentum, that's on cell and then MACD has a sell. The rest is completely neutral. Then all our moving averages there. You can see that our a buy I'm saying, if you're still in a position here, you want to continue to ride that, but we do need to get up above thousand dollars, turn that into strong support. Next, what I wanted to do is go into the four hour time frame and just to get a quick look at this. So on the four hour time frame, you can see where we basically whipped up here right to that area. Guys and this where we don't want to lose this here, we don't want to come up and challenge it like we did and all the sudden start just rolling over to the downside. So for me, what we need to hold is support. I, like the greet, see nine thousand three hundred ninety seven, so this previous resistance area right here we had it twice that we broke up through.
We want to turn that into support if that doesn't hold his support. Look down to that 50 moving average as support, and then it would be down around eight thousand nine hundred and sixty. It would be the area that bring little horizontal ray that I have here. We want to find as support, and this was also coming out. As you can see here, we basically have those tweezer bottoms here, they're a little bit separated apart they're kind of a mix between almost like a horn, bottom and pleaser bottoms, so we're gon na have to look to see if we can't get up there, but you Can see that wick we're feeling out this overhead resistance guys, and this is how critical technical analysis is. It will show you all this stuff. If you need to learn it it's important we get up over there, we may have a cool down see if we can hold that 9000 '7 is gon na, be the area if we lose that it's gon na be the 50 moving average at 9000 236 gon Na be down around 800 or eight thousand nine hundred and my apologies and then that's what we need to get up above is n thousand. We need to crack. We did wick up to about nine thousand nine hundred forty five. You see guys how things they just feel it out they're feeling it out, seeing what happens and then we may have to cool down.
So we can make the next move up. If we're able to hold these five lows here, so it is it's just it's. Just so interesting when you really start to study this stuff here, it's important that we do get over top of here. We don't want some. You know like fugly, Head amp Shoulders taking place here where we have a left shoulder on heavy volume and then we kind of came up here and we have a head on some heavier volume. Here then we came back down. We set a right shoulder I'm less volume here, so this is just something we have to be careful about we're, not at that area. Yet where we have to worry about. I still believe that we do have a decent shot at getting overtop of that, but we may have to cool down a little bit more. We have it bring forth so that's gon na be Bitcoin there guys next we're gon na go in the light point. If you get something from Bitcoin like subscribe, did that notification bail share with your friends pre, please guys, you know if you feel like someone needs some advice in this space or just a clear head, as opposed to just all the hype and everything send them to This channel, because I really do my best to try to help people that I've been a newbie in this space. You know three years ago and I was listening to the wrong people and thought that to happen to many more people, you know it's tough situations, time.
So as we're gon na move on the light coin here in the next take a look litecoin we're at 43, 94 cents right now. Look at this. You can see we're kinda, good stuff here, we're running it back into this 200 moving average. On the four hour time frame right here and see for like when we actually did have that trend line break there, so we've had our trend, line, break and now we're trying to move back up, but it's still been on lower volume. So that's not looking the most pretty here on the four hour time frame. If you are in a litecoin position, the volatility stop is at 41 72 cents. You can see we had our hammer candle down here when we ended up wicking down about 40 is what it was, but for like when we need to get up above this 200, and then this 50. You can see how things are pressing down on it. Right now here was a high lower high lower high. We don't want this to just be our lower high right. We need to start coming back up you're getting this trendline in challenge in some of those numbers around 50 it's, just peaceful, a coin right now, that's like went on the 4 hour. I want to move out to the one day to take a look at this. Like coin on the one day we had our climax candle to the downside here we basically almost had a little doji candle.
Then this has been our reaction still on light or volume I'm, not very impressed with that. As of right now, obviously things can change in the space volatility stop on the one day. They actually have it to the downside here, because our friends has been down in the short term, so they're basically showing this as if you were shorting and that volatility stop. If you're shorting would be at forty seven dollars and 71 cents, one want to basically let the price go up above that. But you know: we're trapped below quite a few things here, guys and it's important for us to close up above this 50 moving average state and the 20 and then trendline and then the 200 moving average and that's. Why, when you lose these things, then you have to fight to get back over top of them again. It'S gon na take buying pressure and right now the volumes not looking the best for light point: okay, so that's, just something I do want to put out there for everybody. I want you to be aware that we need to get back up into that trendline. Otherwise, it's just going to act as overhead resistance, and sometimes you can get trend line breaks for you break down. You come back up and then you actually end up falling farther to the downside. So we do have aware of that and we have to be careful terms of litecoin on the one day time frame our stock RSI.
You take a look at this. We are starting to get a bullish cross here, so that's a good thing, but we're gon na have to see if that can get continuation and follow through and that's gon na take volume. We still have another 12 hours today, so maybe the volume will pick up a little bit so that's our stock we're at 21 and 11x. What I want to go into put a relative strength index RSI. Is that 48 so running a little bit more neutral here you can see how we tried to make a move, but we didn't get over this previous high of around 56. So this still could just be a lower if we don't end up making it upside there now in terms of training view. I want to show this to you in this kind of aligns, with the analysis that I'm, giving you 15 cell 9 neutral 4 by moving averages strong cell 12 cell one neutral 4. By and then we have our oscillators 3 cell 8 neutral 0 by you can see that right there, and that just goes along with my technical analysis that we're getting pressed down by these moving averages and we need to start making a strong move for Bitcoin. Er. Can get pretty ugly for it, your so that's litecoin guys. Let me know what you're doing with litecoin. You know you're part of the litecoin family smash that, like button for me, really helps out with the algorithms people just highly face thumbs up any of that really helped us out as well.
Not you back to you as soon as I can. I also want to point out guys this is about you know the fourth thing down the line. For me, I run another business that's, my main business and I just got a lot of stuff going on the life, so I will always try to do the best. I can to get you out videos and get back to the comments, but it's just always happened. This is my full time job. A lot of people are full I'm doing youtubers and everything. I got a hold another business going on this. I think that I like to do to be with y'all next we're gon na get into aetherium here. Take a look at 8th, Etha, bub 200, so that's good, we're, probably gon na, be trying to go up there and challenge that 205 dollars. Because that's going to be the area, we've really been paying a lot of attention to so on the one day, time frame here we have had our trend line break. We had it on heavier volume. We hit our doji off the 50 moving average and off that 175, which I've talked a lot about how we needed to turn that into support, and there it is right there guys you can see we've whipped down to it. I mean this stuff's textbook right now. Now, we're having a little bit of a weaker reaction on low volume, so we need to make sure that the volume picks up otherwise it's gon na be a lower high and we can start heading to the downside fairly quickly.
We'D still need to hold that 175 it's important to me, the main thing and from the overhead resistance. What we need to get over top is gon na be that 205 and then we need to get up here above about that 215 and be around that 247. But we're still in that sticky fari, now we're kind of just moving sideways and we're gon na have to see what we do with this reaction. In terms of, is there gon na be enough volume to get up over top of that 205 again and turn that into support? Now, if we take a look at our stock RSI, we are getting that bullish cross on the one day, time frame kind of coordinating here with that little doji and short a candle moving up here. So we do need more strength that we need more volume to go along with that cross. That'S what's important for me and then we'll take a look at our relative strength index RSI we're at 55 running a little more neutral there. You can see we're trying to make a move, but still to set a higher high. We need to get up above about 64 on the RSI we're going to be looking at there and then in terms of the MACD MACD guys we had our bearish cross to the downside here. Histogram turn negative now we're trying to get back to the upside that's. What we're trying so hard to do? It'S back to the upside? We have not had a bullish cross since March 23rd.
2020. So when these things do take place in the right here, we had a cross with a bullish engulfing candle. What was missing, though, was that heavier volume, but we were still able to move very big on volume, guys you'll get that more i've studied it. The more I realize how important volume in this space so that's, a theory of, let me know if you like me, cover in a theory and let me know what you're doing with the theorem guys like subscribe, share, hit that notification bell and then we'll move into Ditch bike did you, but I know y'all if your heads love this and you want me to keep covering it, so let me know down low. If you want me to keep doing that, leave me. Some love we'll, keep going after it all right, so let's take a look at. Did you bite here on the one day time frame? First? Is this what we were talking about yesterday or about two days ago? We wanted to get a nice fine, nice support off. This twenty EMA there and we ended up having it with a bullish and golfing candles on heavier volume. So now what did you buy it needs to do is get up above will course it go off the real body candles. It needs to get up above zero point zero. Two four three stick is gon na, be the overhead resistance that we have to deal with.
We want to continue to hold as support zero point zero one, seven, four, five and guys it you know, it's tough, when you're trading did you bite, I've always told you I feel like did you bite is one that you most likely would want a hollow more. If you feel confidence and did you bite or some of these other projects that typically have lower volume, it's always better to maybe just hold those or just speculate with those as opposed to trading them, because in this mark, excuse me in this market bitcoins wild enough, Then you start looking at things like did you bite here and some of the other ones that are lower liquidity and it can get absolutely insane in terms of what happened with the price act, and things could be thought a perfect textbook and then all of a Sudden you have a massive dump or pump whatever so just be careful, but right now, we're trading up above the 20 we're up above the 50 we're up above the 200. We had our golden cross, which is just to the outside. You can see we've been making higher lows so right here was our low higher low higher low we've been making higher highs, and this is where we need to get make up, get up there and make that next higher pie is gon na be very important for Did you buy now, in terms of the indicators, take a look at our RSI, so price was going up, but we have been having some negative divergence here.
So I would be careful about this, as we couldn't, maybe even have another sell off down into that area of that 0.017. One for Bitcoin doesn't pump to get us out of this. Just so, you know, because a lot of times when you do get that divergence when price is going up in your RS is going down. It doesn't always happen, but sometimes you can get that sell off. It happened with Bitcoin. It was on the 4 hour time frame. I was talking to people about. You know the bearish divergence that was forming on. I know some people were saying: oh it doesn't matter whatever, and then we ended up having that fairly big dump right around the halving, but for me I'm happy that the Bitcoin having has taken place and we're. Finally just getting back to normal trading everything it's. Just anything can happen during that. The whales are already so manipulative in this space, so it's difficult to trade when all that stuff's going around. So a lot of people are even just sitting back and sitting out of the market, but for me here guys did you buy. It is still in a nice little move. We have to be aware of that bearish divergence and we would not want to lose 0.01. 733, we do lose that then we probably could come down to around that 50 moving average, which would be about 0.01 1 to 1, is what we're looking.
So if you get something from this, you get from some from this channel guys, let me know down low. I appreciate you being here with me like subscribe to that notification bail. I got to run to my my business here and hopefully I'll be able get back some comments later today.