When a lot of things are going on in the world, they can get extremely volatile. So what i want you to do guys is really focus on those stop losses really focus on your risk to reward management don't. You know over leverage yourself do anything crazy, like i've talked about before. I think the best trading in this space that i like to do is spot all coin trading. I think that's, the safest i don't like to get into leverage, sometimes for me, even bitcoin, will be a little too slow that's. Why i like to play those alt coins, because they'll run a little bit harder and they'll also retrace a little bit harder than bitcoin and that's, something that i'm into i really like trading and playing those spot alt coins that's. What i like to do, i don't want to use any leverage in this space and the reason i don't want to use leverage in the space. Take a look at these wicks guys and just as i get a little bit of time here to go down through, you can have wicks of seven eight nine percent at some points and then the price reverses on you and that's. Typically, what happens when you're in those leveraged positions, people leverage themselves, and then you end up getting caught on a wick? You lose all your money and then the the price just continues to go in the direction that you were thinking. So i would not do leverage in this space.
You know just be smart, really, trade, those spot all coins, and you can really do well in this so that's. My opinion on that also guys we're going to get into bitcoin here, that's going to be on the 12 hour time frame to start out, we may bounce around a little bit. I'Ll tell you when i change the time frames, but i want to put that out there for you, so we can get a little bit better look here as we've just really been moving sideways for the last week or so all right. So if you get some from this don't forget to like subscribe hit that notification bell and let's dig into this, so this is bitcoin on the 12 hour time frame. One of the main things i was looking at was this longer wick up here, and it took place at 11 hundred dollars, that's a key overhead resistance that we're going to need to get up through now, even on the 12 hour time frame. We'Re still up. Above all, our important moving averages our 20, our 50, our 100 and our 200 we're still up above them all we broke out of our symmetrical triangle to the upside on some heavier volume. The main thing we're looking to do now is to hold as support 11 162. This was a previous area of resistance that we have broken through. We want that resistance to support flip. So we want this to become support.
You can actually see our volatility. Stop is right below that and that's. This trading view calculating that for us, and that is at eleven thousand one hundred and twelve dollars. So basically, what they're saying with this volatility stop is that if we do start breaking down through this 11 158 area, which was previous resistance and we don't turn into support, most likely we're going to go back a little bit lower and try to find support at An area like that 10 786 and then be down around that 200 moving average on the 12 hour time frame at 10 630. What we're, also dealing with is a little bit of rsi pressure to the downside here, we're sitting at 55. Right now remember this: on the 12 hour time frame want to bounce out to the one day and take a look at this. So if we end up closing where we're at today, this would be a bearish engulfing candle, so that's, something that we do want to pay attention to rsi. Moving to the downside right now, we've put in lower highs volume, though, has not been crazy, so we haven't had a heavy selling volume up at the top here. To that eleven thousand five hundred more so have just been moving sideways patiently, waiting to see if we're gon na find support off this critical area of 11 158. If we get into the technicals for bitcoin, we are still throwing a buy signal on the one day.
We have a three cell, 10 neutral 15 by oscillator, zero cell nine neutral and a two by moving averages, looking strong there. So what we're looking for is just that continuation to get up over top of thousand five hundred dollars. Then it could be up around that eleven thousand nine thirty two, but we may have some more time consolidating moving sideways, maybe even cooling down a little bit, but these are the main areas that i'd be looking at, that eleven thousand one fifty eight and then ten Thousand seven hundred and eighty are going to be the support areas that i'm looking at for today, so we'll just see. If we can get that moving, so that's going to be bitcoin the next one we're going to get into is ethereum. If you're here for eth, let me know down low leave it in the comment section. Let me know what you've been doing. Are you accumulating during this time? Are you buying? Have you been selling? Have you been trading i'd love to know your guys's opinion, so ethereum on the one day time frame is what we're on right. Now we are still up above our 20 or 50 or 100 or 200 moving average, so we're looking good there, but we've really just been consolidating sideways we're in this equilibrium pattern. The overhead resistance we want to break up through is 378 dollars and be up to around '6 dollars. Gon na be the overhead resistance targets in terms of support.
If we do end up breaking lower, we want to look to that 100 moving average at 344 dollars to support then be down that original area of support at 332 we've been looking at for quite a long time now. Rsi is at 50, so i mean we really could go either way at this point. In this equilibrium we have plenty of room to run to the upside, where we could even go up and test that 500, but we also have plenty of room to run to the downside being at 50.. You know a lot of things could happen here. Excuse me with the rsi at 50. You know a big dump down that could put us down to around that 200 moving average and that could be at dollars worst case scenario there for ethereum, then most likely people would be stepping in in that area. But right now, we're sitting at 366 dollars we're in an equilibrium pattern, consolidating moving sideways patiently waiting for the market movers to make their next move overall, summary: seven cell 10, neutral 11 by oscillators, one cell nine neutral and a one by so a little bit weaker Than what bitcoin's dealing with for ethereum right now so let's keep an eye on those areas, guys that's going to be eth next we're going to move into link. I want to talk about link for a second. This is a position i'm still playing as well. We got in around that 200 moving average and what we're trying to do is change the trend.
It'S. All about the trend see here lower highs and lower lows that we're coming in and now what we got was that nice push up. We got a higher low. We got slightly a higher high now. What we're trying to do is set that higher low. So our volatility stop right now is at 9.25. The area of support that i would really like to hold would be that 200 moving average and that's roughly going to be around that 8'. We don't want to drop below that often times when you drop below that you start getting trapped below that, then things can get really ugly here, but we're trying to change this trend, see how that works and then set a higher low than a higher high, and Then we would see if we can get up to around that 1277, but right now we just have to be patient. We do have some selling volume but it's below average right here, we're just patiently waiting for the market maker to make their next move we're at 51 on the rsi right now, just really trying to change that trend. That'S what's, most important wan na see. If we can find that support, where we're at today in terms of the technicals eight cell, eight neutral twelve by oscillators, two cell, seven neutral and two by moving average, is six cell one neutral and a ten buy for link. So this is something that i'm going to continue to.
Let keep going in the position that i'm in i was accumulating around that eight dollars and you know like 60 cents, 40 cents right in that range, and i was just trying to accumulate so that we can play this next uptrend that we potentially could be getting In here so that's, what i'm doing i got to break even stop guys and that's. Just what i like to do, that's, how i like to trade, this market, sometimes ladder into fear ladder out in the green that's. What i like to do so that's going to be link if you're here, for that, let me know down low next we're going to move into bitcoin cash, this one that runs really hard. I know people hate on bitcoin cash, but if, for a trader you know it can really move hard fast and aggressively. We have continued to hold 202 dollars and that's roughly been since march 19. 2020. Since then, we've just really been in this range moving sideways we've made some nice moves. The high that we got up to was around 338 dollars. What we're trying to get up to next turn this red here. This is going to be overhead resistance at 270. Right now, though, on the one day, time frame, this would be a bearish engulfing candle and it's coming out above average volume right now. So we want to be careful of that. We want to pay attention to that, and we want to continue to hold.
Excuse me guys hold up above this 200 moving average at or i'm sorry get up above that 200 moving average at 252 dollars is going to be the area there let's see if we can hold that and continue to stay up above that, if not i'm going To look down to some of these lower areas, our volatility stop is at 238 right now, but overall we don't want to lose this 202 that's. The range we've really been working in for quite a while, and if you zoom out for bitcoin cash, guys really look. How far and aggressively we've dropped, and then this area is what i believe is accumulation zone and just building until we eventually start getting those nice impulse waves to the upside on some heavier volume like we had here before, we had that big major dump. The rsi is at 60 right now we are starting to move a little bit to the downside here, like we talked about on heavier volume, so we just want to look down to some of these lower areas, see if we can find support – and i would look At roughly about 240 also hold that around 240 would be important. So if we get into the technicals, we have a seven cell, seven neutral 14 by oscillators, two cells, six neutral and a three by moving averages: five cell one neutral and an 11 by there. But when this does run guys, it runs really hard.
I mean you can see this last little run that we had. There was about 53 that's huge, most major markets, don't move 20 in a year. So we got to remember that as we're in this space, so that's bitcoin cash. Let me cover that guys. Let me know down low, so i know if people are here for that as well it's one i like to trade and then we'll get into theta. Take a look at theta theta, one of the main things i was warning people about were these horn tops up here and since then we have just been getting pushed to the downside, so i was hoping people were taking some profit up there. You know this isn't financial advice i just like to warn people and since that area, since those tops, we have ended up retracing about 16. So these are things i like to look for. Look at this long wick here then we had a nice retracement wix at support and resistance can really help you out and that's just a little secret there, but over our overall. Our volatility stops at 63 cents. Right now we are at 68 cents. What theta needs to do is find support in the area that we're at right now we almost have like a rickshaw doji taking place a lot of fight between the bulls and the bears volume's very low right now, so not a ton of interest. I think more people are probably waiting for more of a retracement like i was.
I was looking at this 59 cent area and then i would look down to this 100 moving average at about 51 cents. For me to really want to jump in and maybe play one of those reactive positions that's, why i like to play it rsi being at 50 right now, plenty of room to go either way. We really could retrace a little bit deeper depending on what bitcoin does if bitcoin starts moving, then most likely theta is going to start getting a nice kick to the upside here, regardless of what's happening on the chart, that's just how this rolls or if ethereum gets Moving but right now i would be cautious a little more cautious if i was in a position for theta right now, just given this may have marked our top and we may have to cool down a little bit more before we get that next move to the Upside here, if we take a look at our technicals, you can see this is behind some other 12 cell 9, neutral 7 by oscillators, 3 cell 8 neutral and a 0 by, and i think all this is about just being patient right now guys we need to Be patient.