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– TIMESTAMPS –
1:45 What Is The Top?
4:00 What Causes Altcoin Tops?
6:18 What Causes Bitcoin Tops?
9:01 How To Spot The Top
11:27 Local Top Or Long Term Top?
13:03 When To Sell The Top?
⛓️ 🔗 Useful Links 🔗 ⛓️
► Bitcoin Stock To Flow: https://www.lookintobitcoin.com/charts/stock-to-flow-model/
► Bitcoin 4 Year Cycle: https://rektcapital.medium.com/fouryearcycle-a45408cd0372
► Bitcoin Dominance: https://www.tradingview.com/symbols/CRYPTOCAP-BTC.D/
► Cryptocurrency Market Analysis: https://www.coinbureau.com/education/crypto-technical-analysis/
► China Bullish On Bitcoin: https://www.cnbc.com/2021/04/19/china-calls-bitcoin-an-investment-alternative-marking-shift-in-tone.html
👨🏫What Is The Top?👨🏫
In cryptocurrency there are two types of tops– long-term tops and local tops. The long-term top is the highest price a crypto coin or token will reach during in a crypto market cycle
Until the long-term tops come, we are almost guaranteed to see hundreds of local tops. As the name suggests, local tops are the highest price a crypto coin will reach in a shorter timeframe
🔎What Causes Altcoin Tops?🔎
When a cryptocurrency’s price starts to explode, there is usually some news or event that is fueling that price action. An example of such a causal factor is a listing by Binance or Coinbase
The key takeaway here is that the effect these kinds of events and announcements have on the price of an altcoin are intense but short lived
🕵️♂What Causes Bitcoin Tops?🕵️♂
To cause a blow off top for Bitcoin, a lot of money is required. As far as I can tell, there are only two places this amount of money can come from: institutions and untapped markets
Institutions in the United States have been itching to dip their toes in the crypto game, and the only thing stopping them is the lack of a safe and regulated way of doing so, i.e. an ETF
In terms of untapped markets, China comes to mind. It has the second largest economy in the world, and cryptocurrency has technically been banned since 2017
Recently, Chinese officials called Bitcoin a QUOTE ‘investment alternative’ and noted that they are working on regulatory framework to make it possible to invest in cryptocurrencies again
👀How To Spot The Top👀
To spot a local top, the first thing you need to look for is a blow off top. To do this, open up the trading terminal of your favorite cryptocurrency exchange and set it to full screen
Next, remove all the indicators and set the timeframe to daily. Do you see parabolic price action that seems unsustainable? If you’re not sure, switch the 4-hour time
Combining the RSI with the Bollinger Band and EMA should give you enough info to call a blow off top
📏Local Top Or Long Term?📏
Long term top territory is between September 2021 and January 2022. If you’re watching this video before this timeframe, then you are probably in local top
If this is the case, then you need to figure out what is causing your crypto to pump. If it secured some serious partnership with a public or private institution, it’s definitely a local top
However, if your crypto has zero fundamentals and is pumping purely because of social media hype, you might already be looking at the long-term top
🤑When To Sell The Top?🤑
If previous cycles are anything to go by, Bitcoin will see its blow off top first followed by altcoins. Bitcoin’s blow off top will probably be caused by one of those two catalysts
This means you’ll have to keep a close eye on what Bitcoin is doing even if you don’t hold any BTC. Once you spot a blow off top, the next thing to watch for is a drop in Bitcoin dominance
Historically, big drops in Bitcoin dominance tend to last for about 2 weeks, which is about the amount of time you’ll have to spot and sell the long-term tops for your favorite altcoins
Keep in mind that there is a risk of getting caught in a bull trap after a long-term top. There were three bull traps in the previous market
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome
#Bitcoin #Crypto #markets #trading #analysis
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