Bitcoin Breakout Failed, What's Next?

Ajouté : 2026-05-05

[00:00:00]Hey everyone, welcome back to Crypto Cash. Thanks again for joining me here.

[00:00:03]Happy Saturday to you. Hope you're having a phenomenal weekend. Thanks again for always hitting that like button, maybe even commenting below. And what we want to do is talk a little bit about uh not order books as specifically even though they are piling up, but more so open interest pulling back with uh basically spot volume kind of going sideways. What that tells us is well, it shows that this pullback isn't super strong and it's more fundamentally fueled, which makes sense considering the straight of Fro. Uh, and then also too when we look at, you know, the overall back-end data here too, there's a lot of indicators kind of telling us that we're more likely to go down than up um just based on, you know, simple standard trading techniques, right? Once more, it's not rocket scientist right now or I'm not a rocket scientist. It isn't rocket science uh to essentially figure these things out. So, we'll talk about the handful of factors here in both directions to kind of help build a case, see if it's worth taking a long or a short either this weekend or early next week. I'm per more leaning more towards uh waiting, but that's just me being more patient than the average trader. So, either way you look at it, let's go and take a closer look. Be sure to stick around.

[00:01:05]All right, folks. Before we jump in the back and data, quick reminder.

[00:01:08]Obviously, hit that like button, comment below if you want to become a better trader. Cryptocashtag is a site linked down below. We took some nice profits on our Salana short uh from basically $8980 or $90 down to about the $88 range. Our second target's at 86. I think that's very practical uh just based on just the overall uh you know poorness in how Salana is paired with Bitcoin. Either way, we're not here for that right now specifically. Obviously, I'll cover that here a little bit later, but I just want to kind of preface and let you know that uh you know there's some good opportunities in the market if you're patient. Now, patience pays off here for a lot of traders. If we just take a quick look, uh we can see a nine basically TDS uh letting us know that we have a significant overextension. When you have nine candles that are higher than the previous fourth candle, then it kind of just keeps counting up and telling us, hey, we're overextended.

[00:01:51]We've been moving in the same direction for too long. And typically, when you see that happen, the price action will pull back. So, if we take a look here, just say a 4hour time frame, give you some examples here. Anytime we see an overextension, the price action inevitably reverses direction. Okay?

[00:02:04]Now, it's not like a guarantee. It it doesn't always happen, but statistically we're more favorable to see that, especially if you got a nine on TV sequential on the 4 hour and also on the 12-h hour time frame, right? So those two things combined tell us a lot about the price action being just really too far in one direction. Okay, so hypothetically at this point, you know, overextended price due to pullback, how much further down we going to go? Well, we're going to take a look at that and uh just kind of see if we can figure that out. So let's go ahead and start with uh just once more the backend data here. we kind of zoom in, go to lower time frames, we can see, you know, volume is coming down. Spot volume is pulling back. So, it is pulling back in the lower time frames and that's kind of just this weekend. No matter how you look at it, that's generally positive.

[00:02:44]But if we do zoom out a little bit more, you can kind of see it's still pretty high in the overall sense. So, we're ultimately looking for uh spot volume to keep going lower, right? Open interest coming down is good, but that can reset kind of like RSIs in a lot of ways as far as like the um you know, the perception of how you know how to interpret that data, right? When it comes to spot volume though, spot volume being high that that that get gives me a little pause here for uh potential, you know, stability in this range. The reason why I think that is because this range has a lot of support. It's a previous range high. And right now, we're kind of testing that as a new low.

[00:03:17]Generally speaking, when that happens, you want to consider the fact that it might pivot off that level. All right.

[00:03:22]Once more, taking a look at order books just to kind of give you some perspective. I post this on social media here, so make sure you check that out on Twitter, Telegram, or Discord. But the simple way to understand it is that 80,000 to 78,000 is a heavy area of uh basically orderbook pressure letting us know that there's a lot of intention to sell in that range. Uh so it's higher to the upside, more intention to sell than those that want to buy. Those that want to buy are more so heavy at 75 and 73,000. Okay. So we kind of got these two outliers outside of the current range um where we kind of, you know, have this magnetic pull towards those levels. We're closer to 75,000. that would make more sense especially considering the circumstances here. So overall that's kind of where we're at in the sense of uh you know kind of the backend data when we look at these are large whale orders. Uh there's basically $10 million plus positions. We saw really big sell orders happen at about 76,000. That was earlier today uh when the price action just before the price action pulled back. Okay. So pretty big sell orders there which is standard when you see a ton ton of buy orders to pump the price up. Okay. So that's kind of what we're looking at there. Um nothing to really note here too much. I post this again on social media, but these are really large u really large sell orders in place. Basically letting us know that these are intended sell positions. This is a 16 basically a $15 million position that wants to be sold at 80,000. So if the price comes up there, we can expect the price to pull back because that's a big sell order, right? That's kind of the concept there.

[00:04:44]And the same thing, you know, falls through here too as well. 5 million here for the 79K. So 79,000 has a lot more uh guarding potential there or you know, it's more guarded, if you will. All right. Now, take a look at the back end.

[00:04:56]Let's go ahead and get a quick refresh and just double check kind of where we're at here. This is um this isn't concerning. This is actually positive for the downside because as long start to pile in, the more likelihood of the price going down, right? So, we look here, 62% true retail long delta versus that of uh almost 0% yesterday, right?

[00:05:13]So, it pretty much was bottomed out. In other words, longs weren't taking longs.

[00:05:17]There was too many shorts. And right now what this is telling us is this tells us that longs are are fomoing in as the price pulls back which is generally favorable for the price to continue lower because once more adding fuel to that fire. We saw the same garbage fire last night or yesterday when shorts kept jumping in at 77 78 79,000. Eventually the price slowed down but we had to have that that uh that gasoline so to speak for that fire to continue right because you can't buy if if nobody's selling, right? So it's kind of that concept there. Anyways, 85% true uh sorry, open interest basically tells us as well that um you know this delta is pulling back from yesterday. So don't let that number fool you. Even though it's high, it's still tapering off from yesterday as we saw on these previous charts here where open interest is pulling back, right? So it's again favorable for continuation potential lower at least for that tapering effect. It's natural for weekends to have open interest dropping.

[00:06:06]So it's not like a super big outlier letting us know that we're going to dump because again it's a weekend low volume, lower interest. That's generally the concept there. So, um, nothing to really read into. Let's go back here to, uh, liquidation once more. This is on social media, of course, but generally speaking, we have pretty heavy concentrations at 75,000, 745, uh, 735, and 72K. Kind of just chunk down all the way there. The only small portion is about 785 above. I think the odds of hitting that level here soon is pretty low. Um but once more market makers uh they have a tendency of pushing the price action pretty hard on weekends. Uh at least lately they've been pumping and dumping which is uh not unusual. Anyways uh open interest basically letting us know for this heat map that 75,000 approximately plus or - 500 is that key level support which once more we see large buy orders at 75,000. That's just the previous range high and those often times work as new lows, right? That's why you can expect a pivot in the $75 to $76,000 range because naturally the price will slow down and it'll keep going higher because there's you know not not as much interest in selling. Now when we take a look here at open interest or sorry this is liquidation long delta we are we were at 20 billion yesterday at our highest point. So from 20 billion down to about 12 billion. You can see that number is cut almost in half. Basically letting us know that longs either a got liquidated or they closed their position in profit. Um, generally speaking nowadays, the way things are, longs are probably holding on because, you know, crypto Twitter and everything else is super bullish right now. So, they're gonna they're going to be the next ones to get destroyed. So, they're holding on to that position for too long likely. Uh, so the good chance of that delta uh mostly being uh those of those of positions that are essentially forced to close. Uh once more, those are late longs at 78 77,000.

[00:07:52]Probably just got hit this morning. All that said, daily time frame. Let's go ahead and pull this up and kind of understand, you know, where we're at on the macro. Um, let's see here. I pulled I posted a chart or so I have a chart ready. You'll see that on social media here shortly. But basically, it's kind of a macro structure. Let's see if I got the right um you know, it might be over here. There we go. Uh what we're looking for here, just kind of give you some perspective. I want to just kind of remind you with a friendly reminder. You know, most people get 10 pretty crazy when it comes to uh you know, just the price action. Like almost everything I saw on social media yesterday was just like mega bullish, right? And most of that is just kind of constituted in the fact that we had two or three good days, right? Truth is, yes, we had a nice little push from 71,000 uh on what was that was on Monday. Yeah, we hit basically 70.5K and pushed all the way through to Friday to almost 78K.

[00:08:38]That's a big move. Okay, just keep in mind most big moves like that create a lot of fair value. They create a lot of uh a lot of situations that, you know, force the price to pull back to to to to collect that value. Okay, now it's not a guarantee, of course, but for the most part, that's something to factor in.

[00:08:53]Another thing to factor into is that um ETF net inflow is super high right now.

[00:08:58]And that number kind of lets us know, yes, strength, but also we've saw four out of five, you know, days in the last, you know, weeks worth of trading where we had a positive net inflow. Generally speaking, you'll see three or four days of of positive, three or four days of negative. It's pretty common. So, I wouldn't be surprised we see that that pullback uh once more because of that.

[00:09:17]Either way, the long story short here is that we're still in a bare flag type of pattern. It's very consistent with the previous pattern where we wicked up to 97,000 and came all the way down to 59.

[00:09:26]So that doesn't mean we're going to go down to 50K. I just want to let you know that the the concept here is pretty consistent that we haven't broken this upward trend line yet. Until we do, we want to kind of remain cautiously optimistic. All right? And not be ridiculously unintelligible. Okay?

[00:09:42]That's kind of the thing there. Don't just, you know, oh, oh, Tom, Dick, and Harry over here said we're going to 90,000, so I'm going to I'm just going to take along. Now, it it really the the market right now is not it's not super super, you know, shifted. Like the momentum hasn't broken yet. We got to get it way well above 80,000 in my opinion to see that happen and we're going to have to reevaluate when we get there. Anyways, long story short is the daily time frame looks pretty pretty bullish. We got a lot of positive contributing factors. In fact, we're only at a six on TD sequential. We could go up another three or four days. It's really common to see that happen. In fact, Bitcoin did overextend itself semi-reently from the run, you know, in early March to mid-Marchch where we saw that nine almost nine days nine days in a row, right? So, it can still happen, but once more, a lot of lower time frame factors, the weekend, um, you know, straight up for getting closed and reopen and closed and reopen, all that stuff kind of hits the reset button. And you know, with all-time highs for uh for S&P and NASDAQ and all that, I think there's a good chance that we do capitulate soon after sweeping that upper range of liquidation or liquidity depending on the charts you're looking at. Uh 4hour time frame, a lot of fair value below the price. Just keep that in mind. That doesn't necessarily mean we're going to see 65,000 or 67,000, but I can tell you that um those have a tendency of getting filled at some point. Not all fair value gaps are filled, but majority of them are at at some time or another. It's just kind of the the true ways of trading. So overall at this point, Bitcoin is looking pretty strong and I think that um you know a capitulation makes sense. We do have to have a uh you know you we want to be logical here about this. Our previous range high basically back from March or when we ran up to 76,000 and pull back.

[00:11:21]We couldn't close above 75K when we've done a pretty decent job about of closing above 75K on the 4hour time frame recently. What that means for us is that we got to treat 75K with respect and logically that could and should be the next pivot point. Okay, so hypothetically bullish breakouts have a tendency of continuing higher in this in the these situations, right? So if this is a true breakout, then we will see that hold at 75k and go higher. So you just some friendly advice there. If you're in a trade, just be cautious and careful in how you trade it. But for the most part, um at this point, I think lower time frame divergence makes sense.

[00:11:53]We're overextended a lot of time frames.

[00:11:55]Um, but the macro structure still is yet to be determined. We're mostly still bearish even though we've had a pretty nice, you know, three or four green days, right? So, try not to put your blinders on and just be one of those those persons that looks at today's data. Look at everything, make an informed decision like we do here and you'll be a better trader. If you want that for yourself, cryptocash.tag is a site link down below. Don't forget to join up over there. We do have a good handful of community members coming in daily. So, make sure if you are part of our Discord community, which I highly recommend so you can obviously take advantage of the signals. Make sure you read through the signals guide so you understand how it works. It's all here for you. Kind of just make sure you, you know, use proper risk tolerance on your trades. Don't just follow my trades blindly. I have a certain method of madness in the way that I trade. Okay?

[00:12:37]It's not perfect for everybody, but it works for most. Either way, let me know if you have any questions. Comment below. Let's take a look at some altcoins next. Quick heads up to our traders. So, we got a 15% discount on trading fees if you use my link to register through Bit Unix. Links down below in the description. All right, folks. Let's take a quick look here at Ethereum. Just kind of getting some perspective. We talked yesterday once again. Better case scenario if ETH were to run like it's a 27 $2,800 range would be that better case scenario for us.

[00:13:01]That's our previous range low. Generally speaking, those areas create resistance when they're retested later. So, just heads up on that. Um because some folks kind of messaged me directly asking about that. When we look at the uh fair value gaps though, it's pretty straightforward. there's a lot more value to the downside than the upside minus this small little gap at 2400 and I think there's more propensity for for downside of course that's based solely on the fact that I feel Bitcoin is going to pull back and Ethereum is commonly paired with Bitcoin fairly well. So let's actually see on the right hand side this is the ETH chart. This is the hourly time frame and on the left hand side we got uh Bitcoin on the hourly too. So you can see some similar price action here um where both have achieved higher highs and essentially at this point uh retesting Bitcoin is retesting its local high range at least soon to do so when Ethereum has already blasted through it. So that that that does show weakness in the sense that it hasn't reclaimed or never held its local range high. Uh and that does suggest that further downside is more likely with this coin. Okay, once more, it's partially paired in the sense that, you know, Ethereum didn't pump quite as hard as Bitcoin did recently, but it's still a good factor to to understand and make sure to recognize when you do trade um you know, altcoins specifically. Okay, I try to teach that to all my community members. Uh when you're trading alts, make sure you understand how Bitcoin works. That's why I put so much emphasis on Bitcoin. You see, most of my data is all Bitcoin related because it filters in or factors into those altcoins. All that said, 2370 is that point of uh point of contention here. Basically, that area of open interest locally. Uh it does look like we're going to be losing that level here soon. So, ultimately what we're looking for here is this uh this range right of about 2,300. I think that's the area that um is more likely to be the next the next bounce or the next low. 2,300 has a lot of confluence there based on open interest and also 2250. Uh ultimately 2250 I feel is probably the strongest zone because that that area held like a champ in the past with a lot of retests and a lot of uh a lot of confirming factors for both the upside and downside. All that said liquidation long delta cut in half as as per usual that's the same as Bitcoin and there's more liquidation the downside than the upside. Same thing here. I mean Bitcoin has the same exact scenario. More liquidation to the downside. What we have like somewhere in the range of check this out. This is kind of an interesting stat. 11.56 billion to the down to the downside and only 1.8 billion to the upside. Okay, so that's like a 6 to1 ratio. It's not really good odds. So, if you're going to be taking a long right now, you're kind of, you know, you're kind of throwing money at the wall hoping it sticks. It's not necessarily the best strategy. Okay. Uh so, no shade against Ethereum. It's definitely still looking strong. If you were to draw an ascending trend here, fairly consistent with these SMAs, you can see that we're still honoring the ascending trend, higher highs and higher lows. Until that changes, we probably want to presume the price is going to go higher. It just makes more sense for the price to go a little bit lower before that happens. Okay. So, once more, 2250, 2,300, those are the areas I'm going to be kind of paying attention to. If the price goes up and I miss those opportunities, who cares, right? Doesn't matter. I'll find other ones. That's how you should start thinking, too. Try not to sit there and gravel over closing a trade too early or being just so frustrated with the fact that you missed some opportunities. There's going to be tons of opportunity every single day.

[00:16:12]Yes, they may be bigger or smaller certain days, but the key is you're not destroying your account by trying to find those bangers or whatever it is that people talk about. Um, just it's just funny how how much gloating people do, you know, when when these situations happen. And the truth is, you know, they're they're probably playing with pennies on the dollar or more importantly, they've closed out a million trades to just to get that one good one that they show off. It's just try not to be like that, right? protect your protect your portfolio, be a good trader, be smart, and uh you you'll benefit in the long run. Trust me on that. Either way, I hope this made sense. Let's go and take a look at some other ones. All right, folks. Quick look here at Salana. Let's go and talk a little bit about this bad boy here once more. If you uh took that trade, congratulations to our community members for that. Uh nice little 21%. That was some safer profits. That was only a 10x trade. I probably in hindsight should have 20xed that bad boy, but either way, playing it safe at the top because yesterday was very volatile. We shorted from 90 to $88 and I think 86 is very probable. We'll talk about why I feel that way here. Uh partially because we're knocking on that door, but also uh just based on the premise that I feel Bitcoin is going to go a bit lower and you could see that weakness versus Bitcoin for Salada. In other words, we had this double top price action um was essentially just a single top for Bitcoin for lack of better terms. In other words, when when you know Bitcoin did this, Salana did that, right? It's not very strong. held under that $90 resistance pretty pretty well and that just kind of proved that range is um still that that point of contention for Salana. So friendly reminder uh you know mental note $90 is that key level resistance more specifically 92 I feel is just a little bit stronger. Uh we never saw that level but that's the local range high. Generally speaking local range highs we see a lot of open interest there. It's an area in which you want to kind of avoid taking a long into in this scenario at least from the downside or the opposite. you'd want to, you know, take that long if it were to be a bouncing point to the to the downside. It really just depends on obviously the direction, but open interest works like like a magnet is probably the best way to describe it, but also works as a rejection zone, too.

[00:18:14]At least the first time it's tested. So that that's part of the reason why we took that short position yesterday.

[00:18:19]Having said that, liquidation short delta is not existent. It's still long delta, but what we're looking at is that's cut down by 2/3 where most other altcoins are only cut down by half. So, this shows us a significant disparity in value in Salana versus that of Bitcoin, which is never a great sign for a long position. Okay? So, unfortunately, if you took a long at $90 yesterday, I'm so sorry. Maybe you should reconsider who you're following there. But regardless of that fact, and no matter what you do, the important thing is to always look at everything to combined, right? Look at all the backend data and look at the front-end data and make an informed decision. There's more liquidation on the downside. I'm not proposing we're going to see $80, but if we do see $70,000 for Bitcoin, then $80 is a heck yes. Of course, we're going to see that.

[00:19:00]It's almost a guarantee. But once more, it's based on liquidation. A lot of we see a lot of synonymous behavior with liquidation and uh you know, Bitcoin versus altcoins. Having said all that, take a look at the daily time frame.

[00:19:12]Just to quickly note, there's a fair value gap below the price, mostly filled. So, that's good. Um we are above our descending trend line, which is also good. Haven't truly seen that bearish back test yet. So, usually it comes like that. So, I wouldn't be surprised we sweep some extra liquidity here to the downside between 80 and $86. That would make sense uh before we pivot and bounce. But we're over 50 on the RSI.

[00:19:33]Certainly not like a bearish situation.

[00:19:34]It's just not broken bullish. A lot of people seem to think that two or three solid green days in a row constitutes everybody screaming to the high heavens that we're going to the moon. I just it's so frustrating to me to know that that's actually a real thing in trading.

[00:19:46]Uh and generally speaking, they're not real traders. They're just kind of the people that kind of just spew data that don't really know what they're talking about. But once more, depends on who you ask, obviously. So, disregard that if you know your favorite person told you to take a long at 90. I I get it. Uh, nobody's perfect. It's It was a breakout, right? Generally speaking, breakout trades are pretty unsuccessful with the exception of a couple of times that Sailor bought here recently. Those are the the two breakouts we can talk of. He bought at 72,000. We push up to 76K the first time in March. back in April. Basically, just this past couple of days, we saw, you know, 78K and now the price is pulling back. So, it would make more sense to expect the price to go down than up, specifically after these fair value gaps to the upside are mostly filled and the ones to the downside are not. We still got our point of control at $83 and that 50 range at the RSI still below the price. So, there's still a lot of support below the price. Okay, don't take this as a discredit to Salana or your favorite coin. Uh the truth is Salana, just like any other altcoin, is it's trading with a trend, right? It's still moving higher, still honoring higher highs and higher lows. Hasn't broken bearish yet.

[00:20:49]Okay, so we look at the 4our quickly.

[00:20:51]Just note here that we are in a position where the price action is still essentially creating higher highs, right? And this is a good sign. Sorry, correction, higher lows, right? Higher lows constitutes a good run. So if this continues, hypothetically, we'll see a pivot or a bounce in this current range.

[00:21:07]So there's no guarantees. I I don't think that we're going to continue lower, but I think the odds of success in that direction is higher. based on just, you know, the odds that Bitcoin is going to continue to pull back.

[00:21:18]Obviously, watch my Bitcoin analysis if you haven't yet. Make sure you rewind.

[00:21:22]Shame on you if you're just fast forwarding to the altcoins to try to get the answers because truthfully, you know, honestly, all the way to become a better trader is just to pay attention to learn from everything I talk about.

[00:21:31]While I'm not perfect, there's some good foundational knowledge there you want to kind of build on. And um you know, if you're if you're wasting it, it's it's unfortunate, but there's no shortcuts in trading. You got to put forth the effort and learn this stuff. and it makes sense in the long run once you do. So, a lot of fun if you can be on the right sides of it, right? Either way, we'll go ahead and uh take a look at some other altcoins next. Stick around. All right folks, quick look here at Sueie. And this is a very similar chart to Bitcoin and Salana charts, right? Basically higher lows uh retesting its local high range and in this case definitely a solid range here about 96 cents. So, if Bitcoin holds 76,000 and pivots in its current range, then I think we're going to see Sue take off. But strong butt here. Uh if if Bitcoin loses 76,000, starts trending towards 7574, then we're going to see this ascending trend line break. And often times what we're going to be looking for if that were to happen is that bearish back test of the previous local range high or this ascending trend. Both of these things add up here. So my speculation is that we see Sue pull back uh break this range here and then retest it bearishly. And that's when you want to consider a short. This is generally the entry target there for a short. All right, so between now and then it's you don't really want to short into an ascending trend, right? It's generally not the the best strategy, but if there's backend data here that tells us otherwise, then we can maybe consider something like that. Uh let's go ahead and just get rid of this previous patterns here and just quickly understand that uh we're right here at support at 96. And if we look at the side by side here, Bitcoin is definitely performing better than Sooie, but the general consensus is that they're both pulling back pretty hard. I would say Sooie is pulling back a lot harder. Uh so what that basically just tells us that, you know, as per usual, Sue right now is 2x to the upside, 2x to the downside. That's just a close approximate, not not exact, but you can tell there's extreme volatility. This coin is always the same. That that's how it works, right? So when you take a trade of this coin, you don't try to catch the top or the bottom. you generally find the middle of the trend and move in that direction and get out before it reverses. So, for right now, 96 cents, we got to presume it's going to hold. If that's broken, maybe a short from 96 to the 90 range makes a little bit more uh it's a little more statistically favorable. And that would basically me be Bitcoin losing 76K and moving towards 70K, right? There's a lot of synonymous behavior between these coins. And we look at liquidation delta, it's still fairly well bullish. Uh at least it it's better than than in the red. However, when you see these transitions occur, oftentimes they do shift momentum. So, when you get closer to a break even point on liquidation delta, it's commonly a case and point where you want to be careful taking either a long or a short. Um, generally, you want to go with a trend. Right now, the trend is down for Bitcoin on lower time frames. I think Sue should continue to progress lower. There's a lot of liquidation as low as 85 to 90. It's not a guarantee we're going to hit that, but this coin precipitates quickly and gets out of control fast. So, just be mindful that we lose this ascending trend. that may be something to to bear in mind.

[00:24:27]Taking a look at the daily though, um it's not like it's a amazing structure, but for the most part, most altcoins looking good on the daily time frame. I don't really need to elaborate. Um while we are at this point of control once more, reinforcing 96 cents is that uh significant barrier uh of either support or resistance. We can see we're above 50 in the RSI, but we're starting to top out on stoastic. So, that's that's somewhat of a momentum shift we're seeing. And then we look at the 4hour time frame. Pretty straightforward. more fair value below the price. Um, which is generally just not something you really want to try to trade against. We've also lost 50 on the RSI kind of letting us know that that that lower time frame shift is occurring, right? So, once more, 96 cents should hold until it doesn't. Once it doesn't, I would say the floodgates are going to be opening here and Bitcoin will uh will pull back.

[00:25:12]So, those are my thoughts there. What are yours? Comment below. All right, folks. Quick look here at XRP. Just quickly double-checking some key levels.

[00:25:18]I just want to reinforce uh specific ranges from before. Our significant area of open interest is 147 148. That's kind of that local range high. Obviously, yes, the price went above that, but on larger time frames, I think we're having trouble closing above that range. There we go. We're right there at 148 for the local range high. In other words, we could not close above that yesterday.

[00:25:38]Kind of reinforcing that resistance in that range. We spent the most amount of time in that in that area or below.

[00:25:43]Okay. So, just an area to be cognizant of. And we take a look of course at the 4hour time frame. Uh we can kind of denote here that there's a pretty big gap between the current price and the previous range high which hasn't been tested as a new low yet. So me personally once 138 is hit that's going to be much better consideration for a long than taking a long at 150 like most of social media was talking about yesterday. Right? There's a reason why I emphasized you know being careful in taking a long or short position yesterday and to maybe consider waiting for this coin to top out. Right? It did top out. Hindsight's 2020 of course, but you know, it was fairly fairly well bullish yesterday in the low 140s, but you know, trying to take a coin like this to the metaphorical moon is a pretty bad decision, uh, at least for the moment because Bitcoin hasn't broken any key levels. It's still, uh, is still in a bare flag type of pattern. There's not a lot of reasons why we should expect, you know, XRP to do anything different. Just keep in mind this coin has been fairly strong versus Bitcoin in the recent past and it was creating an ascending channel when Bitcoin was making a descending channel. So that that was a strong situation. However, those situations always inevitably come to an end at some point and we want to recognize that right now. Um it's kind of one of those turning points. In other words, you know, Bitcoin is retesting its local range high as a new low. And XRP doesn't really have one of those.

[00:27:03]It's kind of 143 I would say is a point of contention, but it's not like a super amazing level. Uh let's double check the back end data to see if there's any kind of helpful information here. Open interest, which commonly works as a magnet. This is probably more likely a target for this coin, is the 138 range, plus or minus a couple cents. So 140 to 136 is a significant area of open interest. That's the local support. And then we look at true retail uh sorry, this is liquidation long delta. It's cut in half. What that basically means is it's moving synonymous with Bitcoin.

[00:27:30]Bitcoin's delta was cut in half as well from 20 billion down to about 12. So all that kind of combined lets me know that hey this this coin is still strong. This coin is still bullish but it's also moving down and either going to capitulate soon or lose a key level support and continue lower. There's not a lot of liquidation to the upside incentivizing further downside potential. So when I see that it does give me pause to want to take a long. it makes more sense to consider a short from 143 to the 137 138 range just based on the fact that Bitcoin is probably going to come down to 75 74K. All right, so those are kind of the concepts there.

[00:28:02]Uh pretty straightforward though. I would just say be careful taking all that you got and putting it into a trade with this coin. It's never a good strategy in the first place, but it's especially a poor strategy right now when Bitcoin topped out and most alts are laying down flat. So it's a weekend, folks. Low volume is expected. The true magic will come tomorrow when CMA futures opens. That's when we've seen mega dumps and mega pumps coming typically on Sunday afternoon, right?

[00:28:27]So, heads up on that. Just be careful and cautious uh in that regard. And I hope you farewell and u keep up the good work. Thanks again for being an awesome part of my life. Deeply appreciate you.

[00:28:37]Don't forget to like, subscribe, and follow. Once more, join us over at Bit Unix. Uh links down below for that awesome exchange. Uh they have deposit reward bonuses active right now. And then obviously you want to become a better trader, cryptocash.te is a site link down below. Look forward to work with you. Have a great rest of your day.

[00:28:51]We'll see the next one. Take