We did not want to lose this yellow, trendline and it's starting to happen right now, and you know this is where I've been trying to put out a warning of just be careful in this area, because we have not gotten over top of that ten thousand dollars And turned it into support. We have not gotten over that ten thousand five hundred dollars and overall, in the macro sense, we still have, as you can see here, lower highs now that are continuously coming in and now we're starting to break to the downside on heavier volume and we're. Having that trend line break so for right now, looking at Bitcoin in the four hour time frame, what we would need is a bounce off this 200 moving average on the four hour time frame, that's gon na be at about eight thousand six hundred fifteen. But this is guys why I talk about technical analysis and why it matters and why I emphasized that ten thousand dollars so much that overall now is acting his massive overhead resistance. We couldn't get up above it. We didn't have the strength to get up above it or the buying pressure to get up above it. So what that tells people is ok. Like me, in the market I got out, I was in a position of 9500. It went up. I didn't, take my profit. I had a stop loss in and it ended up coming back down to that 9500 and it was a break even trade and ever since then I've been out, but people have asked me, are you ever in trades? You know, but in this market, some of the best things that you can do is to sit back in cash waiting for a great opportunity, waiting for after a climax dump, where you can jump in and ride the reaction up for 10 to 15 percent and then Get the heck out of there.
Those are different things that I'm looking at or after you've had that retracement you set a nice high or low off a support area and then you're ready to go back up that's when you want to be buying. In my opinion, you don't want to be buying right when you're, underneath that ten thousand dollar psychologically and we've been putting in lower highs in the macro sense mm. Hmm excuse me so we've been putting in lower highs in the macro sense now for years, since, basically guys 2017 it's been all lower highs and what we'll do here is zoom out. So you can see if we can capture this on the 4 hour time frame. As well because it's important to see this, you know what we're gon na have to bounce out to the one day, we'll check it out on the one day timeframe, but you see now this was our top at 20000 and then we had 14000. Then we had that 10500 and then we got up to 10000 couldn't hold it couldn't turn it into support. So that showed guys that you know the buyers were stepping out and sellers we're now taking place, and that just is what it is in this market. People can short now so they would see something like this and they say: okay. I'M. Getting out of my long position, I'm gon na go short I'm gon na start making money on the short side. Then you have this big selling pressure so that's.
Why that area of buying for me was a very dangerous area, so now what we need to see on the one day, time frame, we're gon na really be watching to see what happens with this candle today, because this candle hasn't closed. Yet today, sometimes you can have these fake outs to where you'll move down like this snow look like a trendline break, but you'll actually get sucked back up, and then that can be your high or low and you can start moving from there so this summer I Really want to watch the candle closed for today. If it does close three to five percent below this trendline, then most likely guys that's gon na, be your true trend line break and we can start looking at some lower areas right now, it's still showing on my volatility, stop at 8700 on the one day. Time frame so that's still showing that the intermediate term trend is up, but now we're starting to get that pressure put on us to the downside. So you need to be very careful in these areas and you can also see the RSI now is starting to move to the downside. We'Ve been losing that momentum, because price got up to around 10000 100. Our RSI was at 83, then our price got right around that 10000 and our RSI was down around 65, so that type of stuff is gon na, give you clues and indicators and if it takes place with the trendline break, guys then I'd be looking down to That 200 moving averages see if we found support and that'd be about 8000.
So that was the importance and why, for the last couple weeks, I've stressed 10000. We needed this move to be up above that and to turn that into support. It was so important for us now if we look a bit coin on trading view. I like to do this for people, because people like to see it as well, so for trading view it's, basically running a neutral right now the oscillators are neutral. The overall summary you have nine sell, 10 neutral and then nine buy and then moving averages. Eight sell one neutral. Eight. So, for me is this: is an area where I'm out of the market I'm waiting for a great opportunity and I'm gon na see what ends up happening here, we're at 9000, 97 guys. So if you get something from that, like subscribed hit that notification bell, let me know download what you're doing, even if you guys put exclamation point smiley face all that just helps out with the algorithm and with all the bigger channels and everything it really helps guys. Just get out there, so I appreciate it next, one we're gon na get into is litecoin Lake coins down around 42 now and what we've been looking at for a while for like Qin, was this potentially being a Bear Flag? We had this big push down and then we had this move up and you can see now we're having that trend line break and we had that break on heavier volume there and we started having candle closed below the 50 moving average.
So that was tough for us, but right now, overall, you can see that the volatility stop is turned red, so that's, showing you that you're in that downtrend and the volatility stops up around 47 dollars for people who are shorting. You can see where we whipped up to it before, but now we're gon na watch to see what happens with this next leg here. If we're gon na break down through about 41 dollars and 67 cents is gon na, be the area that I'm gon na look at 40 psychologically but we're gon na have to see. I mean this is a true trend line break. We came back up with this candle, so if we extended this out, even you can see how we tried to reach back up to it. We couldn't get in it so now we're starting to fall again and we're. Just gon na have to see today where we end up going, but guys to the upside we'd have to get back over top of 46 now it's gon na be the area is what we're looking at RSI. You can see. We'Re 44 lower highs coming in. So this is an area as well, just be careful because overall, look our high of 150 and we had our lower high. What if this is just another lower high and then we have a whole nother leg down guys to maybe even that 20 to where we set a potential double bottom from this area over here, then we start moving again I mean there's all different types of scenarios That we're gon na have to deal with so we're, just gon na have to keep an eye on that and that's litecoin on the one day.
Time frame there overall for trading view, take a look at this. You can see here. This is ugly strong, sell all around moving averages, strong, sell, oscillator, strong, sell, it's, really bad guys. I apologize my dogs whimpering back here. I really don't know why. But if you hear me in the background, don't pay attention to it. I apologize so then what we're gon na do we're going to get into a theory, next a theory and what we need to do. Remember this yellow downtrend line. We were talking about. We, how we need to break up through that and start having candle close above the guys we're having the opposite here and it's about, on average volume we're starting to have a move to the downside. We had like a doji candle up there, then a bearish engulfing candle and now we're getting pushed to the downside. What we would need to hold is that 175 for a theorem. That would be a key area because that's, where we've been to before we had this doji candle, long leg, doji, and then we started to move to the upside again, but we still could not get over top of that 215 and that's. Why support and resistance trend lines all this stuff matters, guys technical analysis matters, anyone who says it doesn't and it's all about the fundamentals. I you haven't done enough research. You know, fundamentals are important, but the buying and the selling price action is, is number one it's.
King of the chart – and you have to pay attention to it. If you're going to be in an asset, you got to pay attention to it. So for a theory and what we're looking at here same about neutral, we have buy, we have 10 for a sell. 9 neutral and then we have 9 for a buy, moving averages about the same and then oscillators were running more neutral, but this is just a tough spot. Until we set a higher low, we can't really go up and make that next move, and now we have another area of 215 to get over then it's gon na be like 219, then be up around that 247, but still just this isn't, the best and we're Losing 200 psychologically right now, so apart from some type of just, you know, manipulation with a whale step and quit guys. The trend is starting to move in the short term, to the downside, as well as the macro to the downside, then you'd have your intermediate term. That was moving to the upside still, so you got a whole mixed bag of things there, and this is just a tough spot to be in positions in my opinion and then we'll go into digi byte. Let me know guys if you like me, cover and did you buy it if I should continue to do that if you're getting something from it, I want to put in coins that people really get something from or the most viewers who really want to see this Stuff, so what did you buy? We'Re having that sell off that we've been looking at here, so we ended up pushing up to about that 0.
02. 7. 3. 2. So that's going to be our top now and then you can see we had a lower high, and now this would be our lower low and we're gon na have to see what happens next, with the reaction that will come up, we need to find a bounce Off the 50 moving average and that's going to be at zero point, zero one. Three one: six is gon na, be the area that we'll need to hold, but you can see all this volume now has been selling pressure RSI to the downside we're at forty four, and this is the importance of taking profits guys when you're seeing stuff staring you In the face you know, look at our price range from where we went down to look at that that's. 46 percent. I mean these are crazy, crazy amount of percents so that's. Why we need to capture those the best that you can it's important to take your profit whenever it's staring in the face? This is really high volume selling right now, so we'll have to see if we hold that area. If we don't it's gon na be down to that zero point, zero one one one one will be an area I'd, look to see if we could find support off of as well in terms of trading view. Now we have 12 for a sell. Nine neutral seven buy oscillator x' to sell eight neutral one buy and the moving average we're looking at a 10 sell one neutral six buy.
So this is where guys. In my opinion, this is just an area to be safe. I would be more cautious than I would risk e saying you know I want to buy. Did you bike right here and you know get ready for the next one if it could still go down another 10? 15 percent? You need to be aware of that. So it's something you know on this channel guys I'm, never going to tell you we're going to the moon. Do I want us to go to the moon? I sure hope so, but these charts aren't playing that out. Right now I mean Bitcoin past the halving here. We, you know, we can't even hold 10000 to support, so we have to be realistic as well. In this space you know it's great, to get hyped up and say: bitcoins go into a million dollars and get the endorphins going. But you know guys we got to get over ten thousand dollars and turn that into support. First and let's let's see what we can do from there. So price action is the key it's, not hopes and dreams so that's. What I'm looking at guys! God bless you all.