BITCOIN PRICE TRAP!! WYCKOFF PATTERN CONFIRMED... NEW ETHEREUM TRADE

[00:00:00]Bitcoin price is $64,000 and I'm still $10 million short on the price of Bitcoin, Ethereum, and Salana.

[00:00:07]And with the Bitcoin trade $600,000 in a profit, the Ethereum trade $449,000 in a profit, and the Salana trade $400,000 in a profit, the question becomes, should you take the profit?

[00:00:18]That's quite a lot of money. Everyone keeps saying the price of Bitcoin is going to go up. Thing is, I'm not everybody. I actually look at information and data. There are a lot of people on the internet that'll tell you that these lines on the screen, they're going to tell you things. And although the lines on the screen, they do tell you things, what you're far more likely to do as somebody that doesn't do this full-time is just draw things that you like, which in general will lead to worse trading decisions, less profit, no consistency, which I'm sure is something that you might have been finding in your crypto journey so far, is that you make money for a while and then you lose it all in one go. And that's where my approach is different. So, if you don't know who I am, my name is Jordan. I make videos about cryptocurrency on the internet. I've done that since 2016.

[00:00:58]I've been a Bitcoin investor since 2013 and I've been full-time crypto since 2019. Unbelievably, it's now 2026 and all them people that said, "No, you can't do that for a job." Well, they're still doing their jobs and I'm professionally unemployed >> occupation >> unemployed.

[00:01:14]>> Because the biggest part of my day is just getting the numbers correct and then printing my own money. And your best odds of that happening to you too is slapping a like on this video, turning on those channel notifications, and joining my free Telegram group in the Telegram. Every single day, I'm posting the most in-depth price analysis on Bitcoin. We go through it in great detail, the exact data and analytics of everything. And then also during the weekdays especially, I do fire in my own trades in here as well. So if I'm taking a trade, I'm letting you know. And you can see this Ethereum trade here that we placed in the Chart Vantage Telegram group where we've been taking some profit on it already. And so the question becomes, do we leave it or do we close it? So starting out here, the spot ETF flows yesterday were plus 2,000 Bitcoin. That's because Black Rockck bought 2,140 Bitcoin and Fidelity sold 65 Bitcoin. Now this is two weeks of ETF data. We can see that last week there was more of a propensity to sell than this week cuz only one day this week did we actually receive selling pressure from the market, albeit very heavy selling pressure. And what is pretty interesting here is they sold 6,660 bitcoins on the 13th of July and then they bought 6,660 bitcoins for the remainder of the week.

[00:02:24]Meaning that on the surface, we've got four bullish days there of Bitcoin buying pressure. But in reality, we had one massive day of selling pressure and then the equilibrium restoring itself and bringing itself back to par. So, we can't say that the ETFs were bearish this week or bullish cuz they were nothing. So, then we look at the funding rates here. We see Ethereum bearish, Salana bearish, but Bitcoin not so bearish apart from on Bybit where everyone is seemingly shorting. And I've got an important point to note about that. A lot of exchanges at the moment, these big ones like Binance and OKX, those exchanges are starting to transfer their users over the different platforms or lock out their European users. And because they're doing that, they're forcing people's trades to close. And when we look at the Hyperlquid long short ratio here, I know that Hyperlquid isn't one of the exchanges doing that because they don't really abide by rules. And that doesn't mean you should use Hyperlquid. It means you should stay away. But Hyperlid here have got 50,000 traders that are long and 25,000 traders that are short. So in a position where an exchange is closing down for their European users because of the stupid new European regulations, that means that users of these exchanges have to close their trades and the bulk of these users are in long positions. And then we look at the Bitcoin spot volumes versus futures volumes for the day and we see well spot volume is dropping quite aggressively. Bitcoin futures dropping even more aggressively. But right now spot volume is contributing about 7% of the overall volume to the market. And that's exactly in line with its 30-day volume distribution. It actually sits just below 7%. It's like 6.9% of is it currently spot volume? Which basically means spot volume is losing ground against futures volume. And that means futures is driving the market. So what is futures doing? And the answer to that is well it's not really doing anything.

[00:03:56]We've got complete parity pretty much on futures volume, take a buy versus take a sell, and spot markets are selling off.

[00:04:01]And as we go through this video, you begin to get the picture and understand how I think of the market. Now, I don't think of it in the way of, oh, look, there's a pretty little resistance line there. Oh, look, we've got this cute little Elliot wave pattern. Those things do work, but when you apply them without data, your accuracy rate drops significantly. So, what I'm saying is learn and understand what I'm teaching you here. Drop a like on the video, subscribe to the channel, turn on channel notifications, and right now I am actually doing this $10,000 to a million challenge. Most of you will know about it. But if you are new to the channel, then you can join that $10,000 to a million dollar trading challenge.

[00:04:31]The challenge only just started, so you've still got time to sign up for it.

[00:04:35]We're still only in the first trade. So if you've ever fancied something pretty crazy and wild, check it out, links in the video description. But moving on, we do also have news to discuss today, and we'll get to this in a second, but I did want to briefly bring it up as we go through the analysis that FTX is going to distribute $900 million in creditors uh in their fifth payment round. So, another bullish thing is this because they deposit it and credit it in USD.

[00:04:56]And that can suddenly boost liquidity in the crypto market out of nowhere if people decide, well, you know what, Bitcoin is pretty cheap right now. I should buy some. And that could be the catalyst for taking Bitcoin up to $70,000. And that would be suboptimal for me. I don't really want that to happen. I just want Bitcoin to be at $40,000 tomorrow so that I can buy the dip because I'm Mr. patient and I'll wait till it gets there. But looking at a shorterterm perspective here on the market, the long short ratio we can see is even across the course of the past 24 hours. In the past 12 hours, we've seen a lot more longing than shorting. In the past 4 hours, we've seen significantly more longing than shorting. And in the past hour, we've seen so much more significantly more longing than shorting. This is what I talk about with these. Like I'm currently sat under water in this trades. Most people would be closing this here. And I'm going, well, it depends because you don't want to be closing the trade and taking a loss here because this is a futures driven move. It's not being driven by spots at all. Now, I created this website here so that you could read this kind of data. It's called noctib.live.

[00:05:47]It's bitcoin spelledbackwards.live if you go to it. I'll leave a link for it in the video description, but on here it explains exactly what's going on. Look, you can see the futures market is aggressively buying up the price and the spot markets don't really care and there's no significant bias. So that's how you get these weekend squeezes upwards in price whereas futures markets push up price and then you end up with this massive drop down on Monday. And that's also how CME gaps form. The thing is when you look at the Bitcoin historical volatility index right now, we've come down, but we've not come all the way down. And the Bitcoin historical volatility index pretty soon is suggesting that we're going to have another big move. So we look over at the Bitcoin exchange balances and we've seen that across the course of the past week or so they have been generally rising despite a light drop off in the past 24 hours. And we look at the USDT exchange balances and we see that again across the course of the past week or so they've been generally falling meaning liquidity is getting less. And it seems that throughout this period of time people have been cashing in their spot bitcoins and exchanging them for USDT. A lot of people out there would make the case that this is because they're selling the bottom. Whereas I would say look at who's selling here. It's the richest people on earth. It's the institutions. Now the institutions definitely will sell the bottom because they definitely did buy the top. But the question becomes, what is the bottom?

[00:06:59]You don't generally get a bottom without a big wicky candle. So, we look over at the Bitcoin liquidation heat map here on the threemonth chart to get a longerterm perspective on things. And we can see, look, liquidity has built up all the way at $80,000. Now, these are people that have been shorting the price of Bitcoin down. These are people like me. Like, if you look at my Bitcoin short position entry, it's from $81,000. My Ethereum short position entry is at $2,082.

[00:07:22]And my Salana short position entry is at $92. These are all massive position sizes and that's me. That you see those yellow lines, that's me. But we also see a bunch of other people below the price.

[00:07:33]Now, this is different. These people here, they're in profit. These people here, they're not in profit because that is long liquidation points. But the point about a long liquidation point would be that if you was to be long right now, you would have had to long somewhere in this range. So, if liquidity at all spent time in this range, then it means that you're not in a profit because you had to take the long position somewhere here. Whereas for me, I took my short position somewhere here and that was when the price was a much better idea to do that.

[00:08:00]So on my side, there's way less risk when the price is going up than what there would be for somebody that is long and the price is going down. So we drop over now to the one week to get a much shorterterm perspective on things. And we can see on the one week look, massive liquidity level above, massive liquidity level below. You can see what's happened here. Massive amounts of long positions placed at this level here with now the margin removed from those trades, which is meaning that they can just get liquidated at their entry. And then of course you've got a massive amount of short positions that were placed at the top of the range here. And that means that when those positions get taken out above that range, price goes up. What I think that happens this weekend is price ranges between these two levels. And when we drop down on 48 hour chart, what it suggests is we're probably going to come up start attacking this liquidity briefly before ultimately coming back down to below $63,000 and taking out this massive level of liquidity. So then we look here at this chart, which is the Bitcoin aggregated open interest chart, the best chart in crypto. If you learn to read this chart, it will tell you everything that you need to know about the way that people position themselves and how leverage unwinds. And that's important. And here we've got an annotated version of an hourly chart here on the Bitcoin price. And what we can see starting out with this first single drop down here when the price of Bitcoin dropped from 63,420 down to 62,740.

[00:09:11]We didn't see a significant change in liquidity. We actually saw liquidity rise, which meant that basically a bunch of short positions opened here, pressured the price downwards. They were then liquidated when the price got pressured back upwards by people longing the market and more liquidity entering the market. After that happened, what we did see was a short liquidation wick here. So you can see liquidity dropping off with the red candle price rising here. So that meant that basically all those short positions that entered in this range got liquidated when the price went up. And since that time what we've been seeing is profit taking because price has been come back down and the liquidity has been dropping back down aggressively as well. This chart for me gets super interesting when you stop looking at it on a short-term trend and you start looking at the long-term trend here about how liquidity has worked its way through the market. So when Bitcoin price up here was $67,000, the liquidity that we had was about, let me just measure it there, $22.48 billion. Whereas when the price of Bitcoin was $58,000, the amount of liquidity that we had was $19.88 billion. Right now, we've got $20.95 billion in liquidity, meaning that we've had a 5% increase in liquidity since the bottom when Bitcoin's price was down at $57,000. But if you measure $58,000 all the way up to where we are right now at $64,000, that is a 10% price increase with a 5% increase in liquidity. And that tells us two things. either that liquidity is going to restore itself and further push price upwards and we find price parity somewhere around $67,000 or more likely that Bitcoin is overvalued right now and the price is worth more than the value of its liquidity and therefore the price is likely to go down to refind its liquidity if there isn't a significant return to volume in the next few days.

[00:10:51]Now, if you're liking the video so far, don't forget join the Chart Advantage Telegram group because this is where I post in-depth breakdowns of everything that's going through my brain all the time. I know for a fact that it's better for you guys to consume all of this than it is some crappy signals service. The industry actually upsets me the way that it's going towards these signal services because it's attracting these noobs that don't understand what they're doing and they think you can just copy numbers and be profitable forever. And that's not true. You can't just follow a signal service and make money forever. A signal service makes money because it's a subscription service. So, anybody can subscribe to a signal service and offer a signal service, but it's a subscription that they pay for and then they give it to you for free so that you trade. What I'm doing here is completely different because I sit at a computer for 16 to 18 hours a day and I figure it all out myself and I've got a really good track record. So, please just subscribe and press the like button.

[00:11:38]Come, let's get let's get a,000 likes on a video. We get like averaging 6 to 8,000 views per video. We can get a,000 likes on one. And also, press the hype button if you're watching this video after the premiere. Press the hype button. Especially if you're on a mobile, scroll along twice. Press the hype button because now it's time for the news. And we already discussed FTX has got to distribute $900 million to its creditors. Senator Warren wants to see how much money Donald Trump's made so far this year after he declared 1.4 billion profit last year from crypto.

[00:12:06]Totally normal headline. If you ever wondered why governments don't like crypto, it's because crypto is replacing banks. And do you know who funds governments? The banks do. So they don't like us. So, we get categorized as the dirty crypto criminals on the internet.

[00:12:18]They use crypto as a slur in everything.

[00:12:21]But crypto is just money. And if you don't understand that, you're an idiot.

[00:12:25]>> Big idiot, RIGHT?

[00:12:26]>> IT'S BAD. IT'S NOT BAD. It's not bad.

[00:12:30]>> And the only person that would say that a bank account is safer than a stable coin is an idiot. Because a bank account isn't a self-s sovereign stable coin in a self-custody wallet is so much significantly safer than it is putting money in a bank account potentially having it frozen dep like say that you accidentally break a law one day the government can just shut you down take all your money that's not safe but headlines like this with the UK sentencing two hackers tied to $15 million crypto ransom scheme why the general public doesn't like crypto people and we get demonized as these horrible people and also in the UK at the moment I'm seeing this quite a lot people don't like crypto people. And this is all because of the Nigel thing.

[00:13:07]But the Nigel thing is nothing to do with crypto. Christopher Harborn that donated the £5 million to Nigel Farage has been a conservative donator since the early 2000s. And only now does anybody care that it's crypto and they use crypto in the words to defame crypto in the media. And it doesn't even make sense why. Because crypto is helping people. The coins that the government just prints, yeah, they have value. But the ones that we make that actually do have value, no, they don't have value.

[00:13:34]They're naughty. Anyway, the US has indicted a crypto investor over like like these headlines are just non-stop.

[00:13:39]But I'm telling you now, if you heard every single headline that was to do with financial and bluecollar crime in the traditional industries that use cash, we would just have like an endless stream of negative headlines every day about the cash economy, but no one's talking about that. You know, the news, the Clarity Act definitely won't pass this year in the USA. Please stop thinking it will. It won't. The security of Bitcoin in the long term is now being called into question because AI is getting so good that it's managing to decode things. And the fear with Bitcoin is it's secured by this thing called the SHA256 hashing algorithm. And that is an algorithm that is security by complexity. It's not just like like a locked key though like you can unpick the lock basically. And the fear is that as the technology gets better, they'll get better at picking locks and at some point someone will double spend some Bitcoin and it will happen and Bitcoin's price will just nuke to zero in a second. But in other news, there's still trouble in the straight of Hormuz. This is starting to get solved with Iraq and Syria signing an agreement to restore an oil pipeline. The problem is someone can just bomb that pipeline and it's probably going to take more than a year for them to fix it. SpaceX stock has been crashing. Epstein's back in the news again. And Trump's been escalating things in Iran. Iran knows that Trump's made a mistake and they're playing his game. And Trump's petrified that he's going to lose all of his power at the midterms, which is why he's already calling that the votes are fake and there's already election fraud before it's even begun. Andy Burnham's going to announce that we're going to start drilling for oil again because he's going to be the new prime minister of the UK on Monday. So, what's the plan?

[00:15:07]Well, I think it's probably going to be quite a quiet weekend if I'm honest. I think that tomorrow we'll be able to prepare very well for Monday and then when the market opens on Monday, chaos is going to happen. new UK prime minister, more war, more bombs, more craziness, and more of Bitcoin doing this until it does that. The thing is, if I do take a trade, I'll be posting it in the Chart Advantage Telegram group, and if I make a change to the $10,000 to a million dollar trading challenge, I'll make it in that group. Now, you can join the $10,000 to a million dollar trading challenge group. The link for that, if you click on the video description, is there. And don't forget, if you ever wanted to get super cheap fees on a trading exchange, you can use Weeks and get a 35% fee discount forever by using that link. If you've already got a Weeks account, you can still claim this offer by making a new account on that link, transferring your assets over. To do that, you'll need to send them out of Weeks to a wallet and then into the new account and then you'll get your fee discount forever. Then you fill out that form and in 30 days, your KYC will transfer over and you'll get a fresh but permanent fee discount. And on that note, guys, thank you very much for watching. I hope you have a very profitable weekend. I'll see you in the Telegram. See you in a bit. Gel.