Episode Highlights:

  • 00:02 – My Youtube Channel
  • 00:37 – Market Updates
  • 01:11 – Coin Market Cap
  • 02:33 – Ador Coin
  • 03:52 – 10X
  • 04:30 – Ox Protocol
  • 05:24 – Bitcoin
  • 10:24 – Bitcoin Cash
  • 16:37 – Iota Coin
  • 16:57 – Icx Coin

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Transcription:

What’s up, guys? It’s Dan from cryptocamacho.com

00:02 – MY YOUTUBE CHANNEL.

And today guys, I’m going to give you a quick market update on what’s happening in the cryptocurrency markets. Before I begin guys, I really want to let you know that I appreciate it when you guys subscribe to my YouTube channel. I really, really appreciate it when you guys leave comments and I do try to answer as many comments as I can. I have to admit that I’ve been a little bit behind on answering comments, but I really want you guys to know that I appreciate it when you guys do leave comments. It helps me understand what you guys are looking for, what you want me to make videos on. And it really just actually educates me as well to help me understand what’s going on in the community right in the crypto sphere okay.

00:37 – MARKET UPDATES.

But guys today, I really just want to give a market update the markets have been going wild in the last couple days. And the really last two days, the markets have shot up right. Many, many of them cryptocurrencies have shot up 20% approximately. Some even higher, some a lot higher, some lower. But on average the cryptocurrencies and tokens have generally jumped about 20% in the last two days. And this really could be the start of a big upswing a big bullish market that’s to come in the following month. So, I kind of want to break that down. I want to show you a couple techniques here to do that yourselves.

01:11 – COIN MARKET CAP.

But first, let’s jump right over to coin market cap okay. This is today; if you were to look at this yesterday, this would have been really all in the green. Like everything right here would have been green because the price is really shot up in the last day or two. Today we are seeing a pullback which is basically a simple retracement from the all-time highs that we saw yesterday okay. And this is very, very common right. If you look at these pictures here, you see that everything shot way up and now we are seeing kind of a pullback or a retracement down to lower levels. But hopefully, they will be higher than the previous lower levels, right? So, for example; Bitcoin itself it had a high. I believe of around $7,500 yesterday and will jump into the details here in a minute. Now it’s going to retrace back down to a lower high sorry a higher high than it previously had you know a month ago or two months ago things like that right. Same thing goes with all of these different cryptocurrencies; Ripple you know is actually not performing as well as I would have thought. Ethereum you know really the top ten aside from a few rights Stellar, a few from Cardano and maybe a few others have performed more or less in sync with one another based on the overall market movements alright. So, that’s pretty common as well.

02:33 – ADOR COIN

But let’s jump into it okay. Now if we filter on today’s biggest jumps, Bitcoin Diamond has actually seen the biggest spike of the day right

37.39%, Ardor, has also had a very, very big jump. Because recently it was where was it? Ador I think it was…it’s going to be posted whoops. It’s going to be posted somewhere here. Let’s just look at the news just so you guys know what’s going on. Ahh on Binance listing right, Ardor (ARDR) coins spikes on Binance listing and you can see that really right over here it went up 32% today. So, anytime that a new coin is being listed on any new exchanges typically, we do see a large upswing right also Dogecoin has also seen a pretty big upswing not much of a pullback yet. And that list kind of goes on and on and on biggest losers of the day. We’re 10 xs not surprising to me because you know it’s gone up gosh it went up like 50% 60% just in the last two days. So, we’re seeing a 10% pullback which is not really all that bad concerning it went out 50, 60% right. Same with some of these other coins. Decentraland same thing Nano, you know and you could kind of go down the list and kind of see the same thing.

03:52 – 10X

10x is a very interesting coin because what it enables you to do. It enables anybody who holds an ERC 20 wallet like my Ethereum wallet or any coin based on the Ethereum Blockchain can actually create an exchange their own cryptocurrency exchange and actually trade on that cryptocurrency exchange and have others do the same thing right. so, I’m going to show you this real quick actually because I think this is actually a very, very, very cool technology that I think a lot of people are not aware of but it has a lot of potentials to really enable a lot of different types of trading right.

04:30 – OX PROTOCOL

So, here is the OX project and protocol. And you can see there’s a variety of different exchanges that you can join and you can actually trade any of your ERC 20 tokens right. So, I have an ERC 20 wallet as an example. I can connect that wallet to OX protocol and then I can trade on any one of these exchanges and basically what it’s enabling is peer to peer exchanges being enabled in the cryptocurrency space which is actually very, very, very, very powerful and is going to enable some very interesting things. And I’m not going to get into right now. But the potential for OX is very strong which is why we’re seeing the price jump. also the Securities and Exchange Commission the SEC has also given the green light to list securities on cryptocurrency exchanges which means that really anybody is going to be able to do this kind of thing alright. So, more on that to come later, but I really want to just give a market update here ok. So, let’s jump into some specific coins here.

05:24 – BITCOIN

Let’s first jump over really just to Bitcoin let’s say Bitcoin may be Bitcoin cash right okay. So, let’s start with Bitcoin here right. So, in the last few days, we saw the top of the market at about $7,500 okay. We saw a low point and let me change the chart here just a little bit so you guys could see this a little bit better. Okay, here we go. So, the last low the lowest low we’ve seen in recent times is around 57, 50, 500 approximately right. And we’ve been trailing around that since really May I’m sorry since really February. So, for a very long time, the markets have been hitting very low lows 50, 500 for Bitcoin being the lowest right. Now we’re seeing a bit of a spike up last time there was a spike up from let’s see. last time there was a spike up from around 6,000 here, we went all the way up and then you do see a retracement all the way back down. We went all the way back up, we went all the way up to 12,000 right. And then we saw a retracement all the way down to 9 and then back up to around 12,000 with a very, very big retracement or downturn all the way down to about 6500. We then saw a lower downturn to about 5600 and then we see a spike up right. So, what I’m getting from this and if you look a little bit closer at the charts, I mean what that really amounts to is an upswing of 25% really in the last like you know less than a week right. In the last two days was the majority of that upswing but really in the last week or two a couple weeks we’ve seen this spike go up to 7500. Now I expect to see a retracement back down. We’re not completely out of the woods yet for falling below 5500. If we do not fall below 5500, we will likely retrace to somewhere around 6500, around this point right here okay. So, we’re going to see a retracement around the 6500 mark and then probably a bit of a bump up after that. If that bullish trend does not hold, we are definitely going to see a downturn – you know 5,500 5,000 or even much lower right. So, that is kind of in the works I don’t know if the markets are completely turning right. There’s a lot of different critics out there that a lot of people are saying yes this is the sign of a bullish market. The markets are completely changing and they’re moving up now. And what we’re going to see from here is a bullish market moving forward. Other critics are saying nope we’re not out of the woods quite yet. We’re still going to see a bearish downturn for a little bit more time for a few more months. I personally think that we are going to see a bit more of an uptick in the coming weeks, in coming months. Although that does not mean that you’re not going to see a downturn at all okay. So, keep that in mind. I would wait a little bit till this goes down to at least 6500 before getting in and then you want to watch it from there looking over at the RSI and the MACD zooming in on this chart this is a 4-hour chart. Let me break this down a little bit more – a one-hour chart. So, you can clearly see that the RSI is weakening and that the price is going to drop right. If you look right up here, the RSI is about 85. It’s still at 85 right here actually a little bit higher right here right. So, it bumps up right here but then you notice that the RSI goes way, way down okay. But the price continues to go up that is a sign bearish divergence which means that the price is likely going to fall a lot further right. So, you look right here and you got an 87 on the RSI and you see the price at 70. Let’s just call it 7450 right and then all of the sudden you see the price going up to 7570 but the RSI is all the way down at 72. And now it keeps going down now, it’s at 50 right. The price does look like it may be going up a little bit but my thought is right here, is that the price is going to go down to probably the 6,500 mark before it does any type of significant bouncing okay. Same thing like if we look at the 30-minute charts, it’s even more distinct that that trend I’m showing you on the RSI chart here. If you look at the 3 hour 4-hour charts, not quite so clear so, I would be careful right. Because there could be a spike up and not all bearish divergence on a one-hour chart is accurate. You got to really look at like the 4 hours, the 6-hour charts and so on to really feel confident that the prices are either going to go up or down based on the divergence of RSI and price okay if that makes sense. you can also see the MACD is starting to trail down another indication that we are entering bearish territory at least for the time being so, keep that in mind okay. So, again the RSI up here at 89 yet the price keeps going up, but the RSI keeps going down. Again a bearish divergence guys okay.

10:24 – BITCOIN CASH

Let’s jump over to Bitcoin cash for you Bitcoin cash fans out there. The same type of scenario just zooming out and going to the 4-hour charts here same thing right. We saw a big, big swing up about 30% for Bitcoin cash which is a bit more than Bitcoin itself. We’re already seeing a downtick quite a bit for Bitcoin cash. Let’s zoom out even more to a 12-hour chart here. That’ll help a little bit more and in recent months the lows have been and I know it’s a little bit harder to see so, apologies about that. but the lows have been around 565 and more recently around 650, 630 area right. So, in June we saw the price of Bitcoin cash go down to 600 and let’s call it 40 then we saw in July the price goes down to about 665 rights. So, it’s a little bit higher and then we see this huge jump up right. so, the same thing with Bitcoin, we’re seeing a retracement likely we’re going to see a retracement down to around $700 may be a little bit higher than that, maybe in the 750 range approximately. Looking over at the bearish day I’m sorry looking over at the RSI in the MACD I’m on the 12-hour chart right. So, it’s pretty difficult we’re still showing an uptrend which is actually really good news, but if you go down to this the 6 hours, we see the RSI dropping even further. If you go down to the 4-hour charts, it even goes further right. We’re not necessarily out a bullish territory right here though because the RSI is slightly above where it was previously. So, that’s good right. but if we go down to the 2-hour charts you know and even, even further you see that the RSI kind of Peaks out at about 80 to 83. And the price actually this could be a good sign right here. Let’s go down to the one-hour charts to see what’s going on. Bitcoin cash actually, looks like it could continue its run. I mean the prices are not like the RSI is getting lower. I mean overall actually in the grand scheme of theme things, you see the RSI right here at 82 RSI is getting weaker right here. So, obviously the price is getting higher but the RSI is getting lower. So, it pretty much predicted this downtrend price right here alright. But that’s on a one-hour chart. You really got to keep that online because in a one-hour chart that’s not representative of the direction the markets going to go in the next day, two days, three days, a week or so it’s only in the short term right for the next couple of hours, for the maybe the next day at the most. And so, you want to keep that in mind. You know on the one-hour chart you know we see that the price and the RSI are kind of equally going down as they should in an in a healthy correction okay. But if you look at the 30-minute charts, we’re actually starting to see another kind of uptick here, and going back to the 4-hour chart here, it’s hard to say if this could swing around. This could definitely swing around after it hits this bottom around the 750 area. So keep that in mind. Be prepared for anybody who is looking to jump on the Bitcoin cash train. MACD is going down on the 4:00 hour which I think is an indication that we’re going to go down a little bit further. But again I think there could be a big uptick from where we are at today okay. So, that’s Bitcoin that’s Bitcoin cash. And obviously, we could go into any of these others on Ethereum classic has been doing really, really well because it’s going to be listed on Coinbase soon. So, I expect a little bit further of a retracement before bouncing back there if we truly are in a bullish market. Let’s see what other ones we see here TRX kind of lost hope in TRX. XLM has completely shot through the roof right. This is Stellar lumen because it is rumored that is going to be added to Coinbase alright. If it’s added to coin base, it’s going to completely increase the amount of purchases we see of Stellar lumens. A lot of people are bullish on stellar. I would be very careful buying any stellar at the moment because we’ve hit a peak an all-time high right here just the other day right. It was that 32 cents, I expect to see a retracement back down unless some confirmation comes out from Coinbase that they are in fact, going to add Stellar lumens to their platform. If they give the green light for sure, for certain, we’re going to see this go way up through the roof again. If they don’t which I don’t imagine they will in any you know and in the next couple of weeks I’m not sure if they will, but I don’t think they will. We’re going to see a continued retracement back down likely to somewhere around the mid-20s right. It could be 23, 22. It could also go all the way down to 20 if not even a little bit lower. So, keep that in mind. This is actually a probably a very good opportunity for anyone that wants to play the day trading game with Stellar Lumens okay. So, now going down let’s see we’re on the 4-hour chart hard to see what RSI is doing. If we go to 3 hours again same thing pretty, pretty, pretty bullish right here overall for Stellar Lumens. So, that’s pretty good 2-hour chart same kind of scenario right. We’re still seeing a pretty good uptrend of Stellar Lumens and the Bulls are really holding pretty strong. Now when we get down to the one-hour charts again, we’re seeing the RSI very high, the price very high but it is dwindling but so is the price. So that’s usually a pretty good sign. Going all the way down to the 15-minute chart, again this is a good indication right here right. So, if you were back here, the prices are going way, way up but the RSI is going way, way down. So, you could have predicted you know right here at the peak. The RSI is much lower than the price was previous or compared to the previous RSI and so you can call that okay this is going to go down in value because of a retracement coming okay. I’m not going to cover all coins in this video but I did want to cover some of the main coins.

16:37 – IOTA COIN

Iota, let’s zoom back out to the let’s see 6-hour chart here. Same story guys, once you kind of get these fundamental principles of RSI of MACD of pricing and retracements and how you know they make these parabolic. Let me go to a different chart here how they make these parabolic moves.

16:57 – ICX COIN

This is ICX. I mean every single time we go way down, we go way up, we go way down we go way up. This is happening all over. It’s a head and shoulders pattern and these retracements are very, very common and it gives you the opportunity to do great day trading when this happens okay. So, that’s all I wanted to show you guys. I want to know if you guys think the markets are bullish. Are we going to the moon? Are we set up now to keep going up? Is institutional money coming or is this the start of a further bearish market going down? I like to be optimistic and I like to think that it is the start of a bullish trend. I’m keeping my fingers crossed here but nonetheless, you could profit going up on a bull market and you could profit going down on a bear market. So, it really doesn’t matter. It just depends on how you play game and what your strategy is. Very important to have a concrete strategy in place with very specific rules that you follow so, that you can fundamentally you know increase your portfolio over time by following your strategy or your rules okay. I’m Dan from crypto Camacho guys. Again if you like my videos please subscribe on my YouTube channel by clicking on that little red button below my face. And I appreciate any comments that you guys give, any questions you have, I will try to answer. Thanks again, guys. I look forward to the next video see you guys