What is bitcoin's next move will Bitcoin Crash again or should I buy now also When will altcoin season start seriously What are the signs to look at you are a Crypto Trader show me the charts today I Confront crypto trading veteran Tom Crown I think we're seeing a little bit Of progress here because Bulls are Clearly defending they're pushing price Up to discuss what's next for the Bitcoin price this is the chart I am Watching religiously how do we know when Altcoin season starts to answer your Question about when alt season and watch Today's whole video as Tom gives his Tron TRX price prediction this chart I Cannot look away from and it is Tron It's going kind of crazy join me on Buybit now with referral code altcoin Daily and unlock up to $3,020 in exclusive rewards a great Place to buy sell and trade altcoins Link down below Smash the like button and let's start And just for the new subscribers getting Into crypto now just as a reminder You've been on the channel before but What's your background in trading Absolutely uh to be honest I'm just a Normal dude I went to college try to you Know do the job that route didn't really Work out and uh turned to crypto and Trading is is just synergetic and I've Been doing this about eight years five
Full-time on YouTube and my background Is mostly self-taught when I started Trading in crypto there really wasn't Any guide or uh you know like stepbystep Play on how to do it so a lot of what I Do I figured out by myself and with the Help of others and very blessed to get To where I am today and for people Jumping into trading for the first time What's a piece of advice you wish you Knew when you first Started H go slow you're not going to Get rich overnight I know you want to But you can with pretty good probability Get rich eventually you know get get Past where you are currently and improve Your life uh from the wealth side just It's not going to happen overnight I'm Sorry on that note let's flip the camera Show me the charts what's bitcoin's next Move well you picked a great day to talk About Bitcoin so let me pull up a the Chart here great day um we have the fomc Minutes in and and the FED seems rather Dovish I think it's 60% of Traders are Looking for an interest rate cut in September it's big stuff and Bitcoin is Reacting Way Beyond actually what I Expected so I have just the daily chart Each one of these candles is a day and The price action inside of it and right Now Bitcoin is at 61.4k that's a price that we have seen Uh about for the last 160 days now so I
Understand if that's not exciting but I Have a reason that it might be a little Bit more exciting than you'd Expect please tell me so you're so the Fat is doish meaning they're probably Going to cut rates that's great for all Markets what is that reason why are you So doish oh yeah I'm super dovish so Earlier in this month we saw a selloff To multi-month lows we hit just under 50K and I think a lot of Traders got Shaken out of their positions there Understandably that was a pretty violent Move however what we've seen since and Into maybe this more doish rhetoric from The FED I think we're seeing some Strength on the chart here so here's the Selloff into the fifth and we've come Back up you'll notice these two lines on Our chart here these are moving averages On the day we have the 50 and the 200 And actually on the 10th Bitcoin Performed or completed something called A death cross uh that's my super villain Name by the way if I ever join like the DC Universe death cross uh so this is Typically not a good thing Bitcoin does Tend to kind of react opposite to these Crosses and that is what happened price Moved right back up to 626 and we've been hanging out mostly Sideways there since and I view this as Actually bullish rather than bearish Because I think the bearish path here
Was a rally back to where we saw And then an immediate selloff pushing us Down to lower lows you know the Bears Have their parties uh rooting for what Like 38,000 or something that didn't Happen and to me despite price not Actually making progress as of this Video I think we're seeing a little bit Of progress here because Bulls are Clearly defending they're pushing price Up they're not letting it fall back down To those August fifth lows and in this Very moment right now we're actually Seeing Bitcoin push up into the 50 and Maybe looking to test that 200 here at 628 this is what I deem as like the Critical level to get past if the Bulls Can reclaim 628 I think we move back to The top of this descending High Trend Here that has pretty much kept price Down since March and that would put it Somewhere in the realm of like 695 maybe 70k wow so just to clue and everybody When you say a death cross that's when The shorter term moving average uh goes Below the longer term moving average Signaling signaling uh bearish momentum In the short term that's crossing over To the long term I'm slowly learning how To trade Tom and I've heard some experts Say that that's a trailing indicator That once it's h everything happens up Up leading to it but once it happens It's you know it's not going to happen
After there is definitely validity to That statement um I I love it I love They're getting into trading man I you Got my number text me any time uh I hear That a lot and I think you're right it It is without a doubt a lagging Indicator and you can even see that Literally on on the chart right here the Death cross happened on the 10th price Bought out the fifth and moved right Back to it and while in normal markets Or traditional markets these tend to be Kind of better clear-cut signals in Bitcoin I think there's an argument that They're a little bit in verse by the Time the bearish cross happens usually The low is in at least short term and uh The same is true in the other direction When we get the bullish version of this The top or the high at least in the next I don't know weeks or months tends to be In by then so I think you're on to Something there give me your worst case Realistic scenario for Bitcoin if the Wor should happen what are the Levels absolutely so I think the worst Thing we could see here especially right Now at 615 is into today into tomorrow Seeing a selloff a strong sell-off so That would be characterized by like Mostly just downward price action not a Lot of sideways that we're used to uh Big red candles that's probably what You're thinking if we do see that and
Price moves below August 5th's low being 49 th000 I think the next downside Target or the next place that I would Look to maybe take a long position would Be like 385 I think there's a lot of Kind of game theory behind this numbers I won't go too much into the technicals Of it that would get a little Complicated I'll get into the easy part Which is this is where the low after our ETF for Bitcoin started in January we Saw sell off down to this number it's About 385 and I think that likely that Is the price where we would see a lot of Those ETF participants kind of fold Their hands they've been up this entire Time and a lot of those weak hands I Think would be shaken out just by seeing A little bit of red on their portfolio I Think that's a great spot to look for a Bounce that would be my bearish take and Realistically like Bitcoin dipped you Know a couple weeks ago that that big Wick because of the Japanese Yen carry Trade which we all learned about at that Time and that dipped to 49,000 uh for a Minute you know and that was a huge Macro event that brought that suck Liquidity out of the market if you're Talking 38 or 35 I mean to me that would Have to be like a global war breaks out Or some even more major macro news to Get to those Levels well in the history of Bitcoin
That really wouldn't be that crazy of a Move that would require maybe something Global like that but I think you're Right where a really large Global event Could spark something like a selloff That would bring us to those levels but Doesn't need it but it doesn't need it No Bitcoin in all of the bull runs we've Seen and I will admit this one looking Very different than the past ones at Least so far uh we've seen bigger Sell-offs with almost no reason no real Narrative or anything just seems to be The nature of Bitcoin you know if uh I Think in the 2017 cycle we saw many 40 To 50% retracements from whatever High We hit and the really wasn't a catalyst It was just this is kind of the Volatility of the Market what's your bull case let's say The FED does cut super doish heading Into the election heading into next year What is the bull case well that's my Favorite case this is what I spend my my Energy on in my thoughts so the bull Case I'm looking for could be happening In front of us right now as we film this Video Bitcoin has moved to a higher High Versus yesterday or uh today is Wednesday Tuesday uh and it's moving Back to that 200 moving average this is Really where my attention is it's at About 63,000 and the bullish case for me
Starts when we can move above 63 and Just close really any time frame doesn't Matter I'll say daily close anything Show us that Bulls are not just Interested in this price but they're Interested in defending this price if we Get that I said earlier I think we're Going to move up to about 70 or 69 and I Think the most bullish path we could Follow would be a break of this top Trend moving higher maybe to a new All-time high back down to say 70 and Then really kicking it off with one of Those typical Bitcoin face melting Rallies this is what I'm really hoping Is g to Happen based on everything we've seen This whole last year has your cycle toop Uh projections for Bitcoin changed what Do you think cycle top whenever that is Based on the charts where will Bitcoin Be that's such a good question Uh in the past and even on this channel I've been extremely bullish and of Course I'm still extremely bullish but The game of calling you know the the All-time highs is goes on just seems Almost like a Fool's errand you know Last cycle we hit 69,000 and that didn't Make sense to anything on a technical Level to me in my charting and uh for This cycle I mean man it's just like I Really think it's a hard game to guess I Would like to see Bitcoin at a quarter
Million right uh but if we go by maybe The kind of change from the previous All-time high to 2021 that would probably put the number I don't know somewhere High 100,000s let's focus on this because You're a Trader what is your time frames That you prefer are you on the five Minute I'm guessing you're not on the Long-term stuff no I I do most of my Trades as longer term trades I think Patience is the most valuable asset to a Trader of course you can trade any time Frame you can there's many different Kind of uh iterations of trading you can Like a scalper and be kind of in and out Intraday that's not really my preferred Style because takes a lot of attention a Lot of energy and a lot of emotion I Like to just set my trades and kind of Let them cook without me you know just They fill and I'll check in on them when They hit their take profits or when they Get stopped out so I'm a longer term Trader for sure so you're trading on The Daily or what's what's what are you Trading on yeah I would say daily is a Really preferred time frame for me uh Weekly of course and a lot of the time I Will look for my entries on even a Monthly Level wow nice Tom big question we all Want to know what signs do you look for When we're gauging altcoin season when
Will it Start I got your answer right here for Sure so we're gonna have to change the Chart here obviously Bitcoin going up Going to be a good signal for that just More liquidity more money in the space But there's actually a chart that Describes this better and that would be Bitcoin dominance it's not quite as sexy Of a chart but this is the chart I am Watching religiously for signs of Altcoin season and I hate to say this on The altcoin daily Channel but we are not In an allcoin season yet get out yeah I Know F out no Tom I like that I Appreciate that Realism so dominance is what you should Be looking at the ticker is BTC period D And what it describes is bitcoin's Market cap versus the total crypto Market cap does this include stable Coins this does include stable coins uh I pr that make it different than other Years because now stable coins are Everybody's making one that's eating up That side of the dominance yeah so That's an argument that's valid as well But I kind of don't really follow that Line of thinking because well one why Are we excluding them is it just Convenient for our chart is it Convenient to whatever you know Narrative we're trying to tell uh I know I'm not sure why people exclude it it is
Crypto it does have a market cap and so I feel that maybe it's a little Misguided to exclude them you know they Are part of it what if I decid to say I'm just going to exclude uh Litecoin Right but they're not altcoins I think The argument is they're not Altcoins I would make the argument they Are they just are less volatile they do Vary in value they don't stay at exactly The dollar they have fluctuations it's Just much softer much slower than Everything else there I acknowledge that There's some value behind it I see both Ways I can see it both ways it doesn't Change that much either that's that's Kind of maybe my biggest argument is That this still pretty much just looks Like this even with or without alt coins So I keep in uh but to answer your Question about when alt season and for Those of you interested in trading Altcoins I'm personally using Marx it's No kyc no VPN and one of the easiest Entry points in crypto for beginners and Advanced users use code altcoin and Claim up to $110,000 in bonuses link Down below and if you want a kyc Obviously buy bit I would say is the Better option some people just don't Want a kyc they don't want to give up That data that's why I like Marx do not Keep your coins on exchanges not your Keys not your coins but a great place to
Trade so just like I don't know when Moon I would love to have that answer Definitely for you I'd be a Bajillionaire if I had it but this chart Can give us really important Information about we are and when we Should maybe start looking for it so I Said said well we're not in an all Season and we haven't been and you can See that on bitcoin dominance in September of 22 with the greater market Dominance hit its lowest point in I Don't even know how many years since Then it has just gone up with very few Very shortlived kind of downside moves Meaning Bitcoin was representing more And more percent of the total crypto Market cap while this remains true coin Season is kind of a Dream It's lives in Our hopium and I I love hopium but uh it Isn't reality until we start seeing this Chart show some kind of Weakness so what are the lines when it Crosses 60% dominance that's that's the Tell so that is where I'm looking and I Know a lot of analysts are looking there And this number really is just found by Looking at the previous High high from January of 21 then looking at our low in September and placing our Fibonacci Retracement tool that 60% number is what We call Golden Fibonacci retracement and That's kind of the favored level to look For really in any move in any Market
When it moves up or down we look for it To go back to the golden pocket that Sits at 60 60 is also a very solid Psychological number it's something we Can easily imagine in our brains has a Lot of value when it comes to trading Anything so that's where I'm looking I Know many others are however there Really is no other Rhyme or Reason that That would be the top this is just kind Of when my headlights are going to turn On and be like we're going to start Looking for altcoin season now we hit 60% it may still have higher to go but I'm going to start maybe looking at what Coins I want to add to or what positions I want to take at that level and until Then I'm kind of hands off on adding Adults Tom I want to have you back on in You know maybe four six weeks we're Going to revisit this so make sure Everybody stay subscribed and Link for Tom's channel is down below click Subscribe um what's one altcoin that you Are actively trading or you are looking At today absolutely man I actually Noticed that you made a tweet about it The other day and I was very impressed So I will preface we tweet about a lot They're not you know Right what was it and it's some coin on No I'm just kidding I was some Co on Salon it no um I do want to preface of Course this is not Financial advice I'm
Just looking at what's moving I'm a Chart guy I'm into charts so this chart I cannot look away from and it is Tron It's going crazy it's going kind of Crazy man I have been kind of preaching About Tron for the last I don't even Know how many months now um this chart Is incredibly strong and I cannot find Really any others that are from a Similar time like 2017 that look quite Like this and even the price action in The last 48 hours has given us some Reasons to be bullish now you should Always be cautious when things go up Because while they're going up you have That chance of buying you know the top Or the high but this chart is really Interesting to me Tron has made some big Big moves in the USD pair it has almost Gone back to its high in April of 21 That's about 18 A5 cents I think it hit 16 and a half today that alone is very Very spicy I actually want to correct You I think your Tweet said it's about To go to alltime High I don't know if You actually looked at the whole history That and about is very Ambiguous you're not wrong you're right You're not 30 Cents I think you can go back there too Um just even showing this kind of Strength while the rest of the mark very Much Undecided is something that I find
Valuable as a Trader um there's a little Bit of extra spice that I'm going to Bring just to the altcoin Daily Channel And that's a little bit different view On Tron if we look at the market cap we Actually see something very spicy market Cap did break to a new all-time high Vers 2021 and I find that very Interesting as price is kind of hovering Around that high total market cap has Broken out and as a Trader here looking At this chart Tron has very little to I Say almost no actual resistance on the Market cap chart if you look to the Weekly closes or weekly highs it's Actually trading above its highest Weekly close ever and we'll find out by Sunday it may close the highest weekly Market cap ever on tron's entire history Tom give me a just for fun give me a Tron TRX price prediction if it does Blast through all-time highs what where Does that upwards Trend take Us and do so I would say at first the Alltime high 31 cents is a great Target Provided we can get past 18 and a half But if you want some Moon maath I'm not A man afraid of moon maath I'm just Going to use my FIB tool connected from My alltime high to our bare Market low In 2020 and I'm going to do what I always Do I'm going to use my FIB extensions up Here and that gives us
$22.79 how's that Sound that sounds like I wish I had a Bag um you don't have a bag oh my Goodness I don't I don't I think my Brother does but you can't hold them all You you know I really appreciate you Taking the time today what's your Subscriber count on your YouTube channel Roughly today you know we hit 100K in March and uh we're at 122k now here in August we're doing Pretty good I think that'll come up a Little bit after this video I have a Feeling I think this was your best Appearance yet I really appre this was Alpha I feel this was genuine Alpha There's no reason the that the altcoin Daily Army can't explode your channel to 125 the link is down below thank you for Joining me let's do it thanks for having Me on again
