Today it has been very volatile and, of course, a lot of people are wondering. Should we buy bitcoin right now? Should we sell bitcoin right now? What should we do? I am going to tell you exactly what i think is the best thing to do right now, with bitcoin we’re. Also talking about ethereum we’re talking about the levels you need to pay attention to on bitcoin on ethereum also i’m, going to bring you a setup here. I’M, going to bring you a setup that is going to be very important in the coming hours so make sure that you watch this full video because, yes, this is going to play out in the coming hours. I will tell you all about it guys. So welcome back everybody. My name is cristiano, bringing you trading videos every day today with a second video, because bitcoin is so volatile and, as you know, i have been updating you on everything. That’S been going on over on twitter, but let’s kick this off and we are going to continue where we left off and we talked about not buying bitcoin at the top. So i released this video. We anticipated the breakout one day ago with this video and then once we had a big breakout. I did tell you to not buy bitcoin at the top, and why did i say that? Well because i started to see people say that yeah, we should just load up right now and i was looking at my support and resistance levels, and i saw that we were not even breaking my levels here.

Still people were screaming that we should buy going into this massive resistance right here so but let’s continue okay, so then we had a huge dump. I mean you had a couple of consecutive candles here and yeah. This was a dump of almost six percent, but if you follow me on twitter, you notice that i put out this one, so the price was going down. We were right at the edge of uh of this brown box right here you can see the price was at thirty, seven thousand eight hundred and forty six and i said my levels as a reminder: brown boxes are usually very strong. In other words, even if we break down there’s a decent chance that we may just wake, if we get a full breakdown, you need to watch 35 873.. So how did things play out? Well, we went down, but so far this is only a wick and i’m telling you guys these brown boxes they are not to be messed with. These are very important to keep track of. This is why i always remind you whenever you have some serious price action going on. I am going to put out my exact levels to keep track of so let’s continue. What more did i update you on? Yes, i updated you on ethereum and i said that right now we are on miner support, but if we, but that we are bouncing, which is a very good sign and then i have to make a clarification here, as you know, during the last couple of videos, I did say that uh, you know taking profit on ethereum up here at seven 1750, when you’re sitting at hundreds of percent in profit it’s good to take that out, because it makes it easier for you to hold when the bit with the bitcoin ethereum, whatever asset.

When the price dips it’s easier for you to hold that dip hold through it, and this is how it looked based on my resistance level, sorry support level, and this is how it played out again. We did only wick down here and this held like a boss. Now sure, if you have strong hands, you can hold through this dip no problem, but for most people it’s very easy to say that and then you actually see the price start going down and then you sell at the bottom. That is why i am telling people to take profit when you are at the top and then hold through the dip and, in fact, also perhaps accumulate on the dip and yeah, sometimes it’s easier said than done. But this is what you got. The satoshi stacker youtube channel for right and then lastly, what i updated you on was the altcoin strategy video, because some people are telling me like, should we go all in in altcoins right now, and no because you should always have a strategy and, for example, my Strategy has been from december up until now, and this is a very important video to watch if you have not already watched it, make sure to watch it after this video, because it’s also important to understand the thought process of how to actually think yeah. I just wanted to point that out that right now you should be thinking about what you’re going to do for the next six to 12 months and not you know reacting too much to these price movements that are happening right now, because you should already have your Strategy in place and, as you know, i’m always sharing my strategies on youtube on twitter.

Whatever i am doing you get insight to. If i am getting wrecked, you are going to see that as well, but so far so good. Now i want to share something with you, because if you remember last sunday i put out those videos talking about the traditional markets opening up and how that was going to lead into a massive bull run if they opened green. Now you can see here that from the 31st of january, price has gone up right. So we had this uh consolidation right here, but then we continued right back up and i can almost tell that this is probably going to be exactly the same with bitcoin. So let’s go to the 1st of january. I can almost february i mean i can almost yeah. I can bet that this is it. First of february we had a massive pump in bitcoin. We had a massive pump in the uh traditional markets as well, and in fact, you formed this kind of bull flag right here and we have hit the target from this bull flag on traditional markets. What we want to see right now is we want to see this previous resistance flip into support if we are to go down here. In other words, if this uh opens up red and by the way this opens up in a couple of hours, i think two hours so make sure to pay attention to this. Well, if they open red, then uh take a look at this support right here, because you could see a bounce here and then you know we can continue to the upside that’s.

One scenario just understand that you have this support, so don’t expect us to just free fall here, but if they open green, we are right back into price discovery mode, because we are already at an all time high here on a traditional market. So i mean this can just shoot up very quickly, and that is also going to affect bitcoin, and this is what i talk about when i say that i try to find some catalyst like, for example, right now. We are forming some consolidation right here, and this is a good floor, because if you zoom out, you can see that we went down to these levels. At 30 000 we went up and then we had consolidation rights. Here. Right went up consolidation right here, up consolidation up consolidation up, and are we going to see consolidation right here? You can see that the overall structure of the market is good. We are making higher floors on these consolidations, but if you look at the very very short term, you can also see that we just made a lower high, so it’s a bit indecisive right now, it’s pretty much this brown box here that is preventing bitcoin from going Down to this level here at 35, 847, but again, the catalyst we need to pay attention to right now is the traditional markets. If they are all going to open up green, that may very well be the fuel needed for bitcoin to get into this brown box.

Again and then we will take it from there, but remember this is still going to be massive resistance here at 42 128. But if we break this redline, that is going to be very good news for bitcoin. If we can close above it and guys don’t forget, if you want to start trading and get a nice bonus over on femix, you can get 680 dollars for free on this time, limited bonus so make sure to sign up using mylink and then click on this Link right here, you get all of the conditions right here and also make sure to watch my trading tutorial at the end of this video, and is this a double bottom? No, this is not the bottom double bottom. According to me, first two reasons: first off this downtrend is not so long, so i don’t like to see you know a very short downtrend like this. Ideally it would go down. You know perhaps something like this continue for a bit, and then you see that double bottom and then you start to take off, but also secondary. You see that this low is higher sorry lower than this low. So for a double bottom, i would like the reverse. I would like this low to be low and this low to be higher, but other than that sure you can say that this is a double bottom. If we are going to break this level that is potentially going to play out and what is that target going to be then? Well, i would say a push towards this red level, but again i’m, not giving this pattern too much merit right now, so yeah guys short little update, just pay attention.

Bitcoin pay attention to all of these levels.