 All right, welcome traders Got the start of the new month here. It's pretty exciting. So we got new structure that we're going to deal with and Today we're going to go over the Bitcoin and Ether monthly structure. I'm going to kind of rip right through it's gonna be a little different Than what we've been doing before So we'll get we'll get into it. I'll introduce some new things that we've got going on So happy that book map is sponsoring this presentation I want to go through the particulars on the disclosure That you know futures and forks trading contain substantial risk and is not for every investor An investor could potentially lose all or more of that initial investment Risk capital is money that can be lost without jeopardizing one's financial security or lifestyle Only risk capital should be used for trading and those with sufficient risk capital should consider trading Should only consider trading past performance is not indicative of future results. Everything that we're going to go over here today It's going to be for educational purposes You know, we're here to you know, provide you insight give you some additional awareness I'm John Slazas from Dharma Capital Trading If you need to reach out to us you can get us at info at Dharma capital dot trade my personal Twitter X is JS services old old school one in the new X is Dharma cap trading and we're gonna We're getting ready to start a whole new campaign with with the twitters Same with our YouTube channel Dharma cap capital trading YouTube channel has been upgraded and that's gonna you will see consistent post there We just started a new sub stack Free weekly report. So Every Sunday evening. We're we're publishing a weekly outlook on Bitcoin And we will be doing ether as well And then we've got the the book map discord channel here So, you know, feel free to leave any questions you have In the in the discord channel as well So today we are going over fact-based trading and these are our tools. This is our edge You know in fact-based trading involves making decisions based on objective data analysis to reduce speculation and subjective biases So what is that that's giving you a foundation, you know with book map You've got the ultimate microstructure tool to read tape to read order flow And you need a foundation before you get in there and read that tape And you know when need knowing when to go into the microstructure and being prepared is what it's all about. And that's what we do for you and Our analytics, you know, we're going to help you standardize your decisions So we're going to give you that mandate, you know, you need a strategy when you get into the microstructures So things start to make sense and that our analytics will provide that and it will give you that structure Our applications will normalize that into your workflow. So we've got an integration with book map So it'll integrate right into your workflow and the heat map and Then we have a live trade room that we do trader development in to help you optimize your tactics So we're presenting our analytics and overview of our analytics, but we're also Working with traders to optimize what they do So with our method, you know, it's always the same thing all the time And you know as you prepare for your day, you just go through the process and we're we're going to go through that today And today we're going to go through the monthly structure. So we're going to start high-end You know, you're everyone trades at different structures different time frames People you know, some people don't get out of the microstructure Some people don't get out of the macro structure in there and they're just trading long-term positions. So We got the start of a new month. So it's a big deal. So we're going to get into that We're going to define the context of what's happening for the month of November And then we'll we'll dive into the moment to see what's happening So the context is going to define the you know, what are the state characteristics? What's the environment? What's going on, you know within the structure for Bitcoin and Ether right now with the new monthly structure Which will last through the month, you know, and then we're going to look at the specific alignment points, you know Where do where does this context change? You know at what point does the context change and that's where we're going to see the best liquidity And that's when we want to really dive into the microstructure to see what the order book is telling us and wants to do But we haven't we can anticipate what the opportunity is and then we're going to look into the order book saying that Okay, is it performed to the expectation? Is there is the live current events telling us that this is what the market wants to do or not and By doing it that way. We're able to you know, ideally get into some big moves and that's where we want to be You know small losses big moves and so it comes down to an expectation And if then statement, you know if the market is in this state with this structure Here's what's more likely to occur and so always putting ourselves in a situation where we are with the odds But you know and whenever it also helps us to understand that hey, we're in a position We then we do a fact check and we understand that oh, you know My trade my positions against the facts this market's broken structure I'm long market broke structure. I'm hoping, you know This is what it's all about to give you that awareness and to help you see that in the order book So then other things that you're seeing in the order book. You're not going to discount them You know and that comes down to you know another big plus of having a Statistical foundation is that it's going to help you see through some of these cognitive biases They'll have be hold on to trades longer than you should, you know, I got to get I should get out I better get out. I'm gonna get out and then you finally, you know, you have to get out You know, so but more times than not your body's already told you get out and So by adopting, you know a fact-based trading approach and integrating that into your method And you know, we're not we're not looking to change anything you're doing. We're looking to enhance it We're looking to improve it. We're looking to give you an edge of what you currently doing your current skill set and What'll happen is, you know when you you know adopt You know an objective viewpoint it's going to improve your confidence and your consistency and your self-awareness and And in addition, it's going to reduce stress and it's going to elevate your performance You know, it's interesting when you you know what the odds are and You are constantly fading those odds, you know If you come in you got a position on and you know that okay This position is it is the against what's more likely to occur You can only do that so many times, you know, if it doesn't work out, you know, you can't you You'll get to a point where like, you know, this yeah, I'm I'm I know I'm training against the bias I know I'm training against probabilities. I'm doing it. Anyways, because I'm right and then you'll do that And you'll just you know, you the stick just gets bigger and hits you in the head And then you're just like, you know, I don't need this aggravation And I'm gonna I'm you know, and it's you're not happy that, you know The signals maybe aren't coming into alignment when you want them to but you know What'll happen is you'll start taking quicker losses and then all of a sudden. Oh, I'm in alignment Great, you know, now I can you know now I can execute now. I can you know increase my size and I can and having that and then you'll see and you'll have the confidence to hang on to your trades longer than as well So these are our applications. We've got that. Well, I'll show you today as we apply and go over the long-term structure for Bitcoin and ether our playbook and our price map overlay With our integrations with different charting platforms and with the book map platform and really what we'll see as we go through this is Is it how it allows us for proactive risk management and how it helps us to anticipate opportunities and What we're going to go over now is Different structures that we're going to use and so first we're going to take a look at price structure And then we're going to get into time frame structure along with a little Time phase and then we'll get into our market structure. All right, so what we're looking at right now is Bitcoin and this is a 240 minute chart you guys see this line. Let me Change the color here. So what I've done here is I've highlighted, you know, the previous month low and the previous month high previous month's close and the previous month midpoint and so Excuse me, we're going to you know, so what's happening just based on this and this is what I identified here is the start of the month And well, I'll go to a lower time frame chart in a second, but What do we know about you know our current what's happening? Well, there's some interesting things that are going on right now and this is what we're talking about here is this market structure Let me move this So, you know price structure what's happening, you know, we've got a market that's making, you know higher move highs And higher move lows So we have positive price structure. So and as we go through the different structures You know, I want to emphasize that you know the Identifying, you know Reading the market reading the price structure in the market is he's kind of the lowest rung of the of the importance of value, you know of a structural point And especially interday structure because you know what money drives the markets and the big money Isn't so concerned about interday structure what they are concerned about But you know, this gives us as traders and you know, this gives us, you know Insight to how we can trade within the bigger structures And so and it's especially if we're just using this price structure to identify You know, is it trending or non-trending? Are we holding the positive or negative structure? Are we not and you know, so that basically just tells us hey this this price structure is in a trend mode Or it's in a digestive mode period and that's the strength of Identifying structure in the mark price structure in the market, you know, you know I call it kind of high low game. That's you know, you just are we trying are we moving higher higher structure or lower structure? And where's the point where we shift? So we've got a market that's holding positive price structure into the end of the month and That's a little better my OBS. It looks like we're not able to see everything But I think that that blown it up there works a little better So what I've done is, you know, we've got the start of the new month here and This was the you know, we what's happening at the start of the month. We are you know, we closed near the Previous month high. So this time. This is time frame structure that we're looking at now And this is this is a higher level and why is it a higher level because this is what? Fund managers are mark to mark it on, you know, their monthly performances is Really what their whole game is, you know, and you know, obviously their annual performance is big But you know when it comes down to it, you know, how do they manage their monthly performance is really key? There's a lot of fund managers that just focus on hey I'm never going to have a drawdown more than 10% and you know what they're going to get into a mix of traders You know fund managers that and you know allocators that are only looking for people that don't have a drawdown greater than 10% And so that all of a sudden they're going to be attractive to those people and and so the you know The the structure time frame structure is key and the monthly structures is one of the most important for sure And so that's what we're going over today and we've got a market that Closed near its previous month high. So that's interesting setup. This happens, you know, when this does happen What's typical? Typical is the market is going to continue on this momentum and you're going to see some you should see some stabilization above the previous month close And then you should and then we should see a breach of the previous month high in this and this positive momentum should just keep going What can happen here is, you know, if this, you know, so right now what's happening, you know This is the start of the month here and we're trading around the previous month close We're just just below the previous month high. So what does that tell us for the moment? We're potentially in in neutral, you know, we haven't made a higher pie And since we are below, you know, we're net change negative on the month What can work in the market going and come back down to the midpoint? You know, that's just classic. You know, just trading that you range trading You've got this midpoint which is more acts is going to act like the momentum level It's the it's the previous month, you know VWAP and and then you've got our previous month low So, you know, what would be a big digestive trade then the market's going to rotate within last month's range And it's going to use this midpoint as that rotational area. Okay. So, you know, what are we doing? We're just building the fact foundation here. These are just troops, right? This is just giving you some insight and What I did here also is I identified the past seven days of trading And so this is what we call our settlement phase So at the start of the month, which is where we're at now is our opening phase And during the opening phase, you think about if you're a fund manager and you're marked you're marking Mark the market on every month and that's where you're, you know, how you're getting paid out as well Then, you know, at the start of the month, you got all your bullets You got everything, you know, all the you can take risks, you know You're gonna stay within your all your guidelines, but you have things to do And as the month moves on depending if you're up or down for the month, you're going to make adjustments You know, you might be, you know If all of a sudden you have a big move, you know, you catch a good move in the first two weeks of the month You're gonna lock in a lot of that profit. You're not gonna give that away, you know If you you're up, you know, five seven percent, you're gonna lock in five percent. You five percent month huge So, you know, you're gonna lock that in and you're not gonna you're gonna, you know, the risk management profit give back It's gonna kick in and it's it's not gonna let you take take a loss and you should think about that for all your trades It should always be a profit give back number. So when in for every day So if you come in during the day and you have a big morning And you're up X You know, you should have literally tranches of You know at this level, I'm locking in this much this level I'm locking in this much and you should shut down, you know If you all of a sudden you pull back and you get hit your 50% give back after you hit your your profit You know the minimum profit target that says hey, I'm having a positive day and I and I don't want to give this all back You know, you should take a break And let things reset if you if you gave back some of that dough And so it's the same thing all the fund managers are doing so what happens is during this opening phase that it behavior of the markets a little different and You've got people that are going forward more You've got new allocations that are coming in that start at the top at the start of the month So what happens during the opening phase is you get this, you know, big You know a lot of high orders come in other people want to get out it You know, let's say they're leaving the fund or they're getting out or take you know They're taking money off the table, you know, that's going to be provide selling pressure of orders And so you'll see what happened in the opening phase is you'll get a market that looks to range straight a little bit You know looks at how high can we press it to the upside the buyers are gonna come then the sellers are gonna come in They're gonna press it to the downside and and that's that's just a natural Factor of the opening phase and for the monthly that's the first seven days of the month and Just the same, you know unique behavior happens in the settlement and you know definitely in traditional markets You know settlements more pronounced where and crypto is the same way because the rest of the world that funds crypto trading is currently it is on the Traditional market time frame and people have to settle up people have to set up their margin. Can they carry that position? Overnight or not, you know And so all the institutions are doing the same thing and then you know And so you have this period of settlement On a daily basis just to because everything's got to be marked market. You have to have the money in Europe and But on a higher time frames like the monthly, you know, it takes more things into account as well where you've got, you know different explorations that are coming in you've got Allocations that are winding down. What do you maybe? Your portfolio didn't have enough of This token in it that you needed and you need to you know Make sure that it's on your statement for that month that you had that There's a you know a lot of different things and end of the day You're just here winding into the to the new period and it creates a specific context And that's what we're really getting into now. Anyway, it's just context, you know What's you know that because that's when where we want to be when we get into the moment we need to make sure that the order book and Order flow is in alignment with the context of the market. So that's what we're doing now is we're Defining that context Okay, so that's why I drew this line in here and this is the past seven days in Bitcoin and that is identifying our Our settlement phase and I'm going to draw in a Boundary here and let's take the Let's take this chart To a lower time frame here Let's see what 30 minute looks like in the monthly midpoints down here so what I've done is I've created a rectangle around the high and the low point for the Settlement phase So that gives me a range and so what I'm doing now is I'm just going to Put the midpoint in of that range. So it's Basically the same stuff, right? We're just looking at Well, if you can see the bottom of this Comes up on my chart. My OBS isn't shown. I'm going to assume you guys can see this So this is just identifying what happened previous month and now here we are in the current month and This settlement range is going to give us some insight to how the opening range is going to behave And so a lot of times is the opening range starts to get going It's going it's got a couple, you know, and again, these are just facts. This is just this is just is what it is These are truths. We should know what they are You should know how the markets behaving is the market net change positive on the month or negative on the month, you know And and the same thing that is true on this settlement phase is you know, it's did the market trade outside the settlement range Just like, you know the opening range saying it's going to be the same thing You know, that's what we're going to focus on after the first week of this one But right now we're in the opening, you know, the start of the month and we've got our We came in to press the top of the settlement range, you know, the markets net positive, you know opens up Crypto with the closes the open and then you've got you know, the markets was holding, you know Kind of negative most of the day here today. We had a little spike up It's it gonna make you know, try to make a challenge to the say the previous month high and and now and What what also comes into play is the Settlement range high so that came into play there and then we had a you know a pullback from there We're we're gonna go and you know, even this was kind of more of a test of the settlement midpoint test the high point of the range now we're testing the midpoint and You know Before we even came into today, you know, what else did we know? Well, we knew the news and we knew that we have FOMC coming up So so we the expectation is kind of sideways anyways, right? So we're not really Expecting things to follow through and there's you know It's kind of a difficult time to trade right now to put anything new on because we've got some big news coming out there But so and what the market is perform to the expectation? It's it's kind of churning a little bit and so, you know Just as we have the high low of the previous time frame period well on the discovery of phase here During I mean that during the settlement phase and this price discovery You know if the market is now, you know is trading off this settlement range midpoint We're gonna go it can go to the lower part of the settlement range Which you know it you know these levels here and So that you know that we can use the settlement range to give us insight to it to the formation of the opening range And it you know just it's part of the market state You know markets come into a settlement period and they come into an opening period. So that's what we're doing now Okay, so now we're going to Add some market structure. So this is where our work comes into play get this back in alignment So currently what do we know we know that you know the markets holding above the settlement range midpoint that's That's positive It's it's still it is below the Previous months close That's not positive. So we're you know kind of a bit of a wind-up. So now where is sentiment for this month? So that's our our level and so sentiment is below the market So I'm going to throw up the the previous period so we can get some sense of How the market has been you know behaving and where the where the sentiment has been and Maybe I'll just So Sentiment bias is the over under number. So this is the line in the sand So any any any trade period, you know, you can really you know Take this level draw it across your chart and that's going to give you insight to we positive positive negative bias and so you know This was last month set Sentiment bias and so and we went over this before and how the market you know moved quickly off of it came back through it And we had a lot of churning around it and then it finally made a move off sentiment And I believe this was the directional Yeah, it was the It was the directional Okay, so what are we now? What do we know about the market? We know that the you know the underlying tone is positive. You know we first we started out. We got positive price structure. Okay Based on time frame structure, you know, we were net change negative on the day We're still below we didn't make a new month high So that the things are in question there and we are, you know currently testing the boundaries of the Settlement range, you know the fact that we you know stalled out here You know if this market starts to roll, you know, you know sustained training below the settlement range midpoint We're more likely at least coming back down to test these laws But what we also know about this sentiment bias is that this is where the buying energy in Bitcoin is for this month So $28,640 is where the you know the real buying energy is so now let's throw the critical range on and all these terms and things that I'm going over now. This is stuff that we go over in the Trade room and we have got you know, and when you come on and subscribe with us We've got you know detailed tutorials that go through all this stuff. So I'm just going to kind of rip through this now But we definitely support you in identifying all the structure points So this this is what we call our critical range. I'm going to take off the previous period I just wanted to show here how sentiment shifted up Because we're in this positive trend But I don't but the the previous structure is not going to have an influence on the current period It does give you insight To how the how you know how the market behaves in different structures because you know in this in this situation here you can see how the sentiment sentiment bias last month was within the critical range Inside this range. So it's in the middle. So it was this was a pivotal structure So in a pivotal structure, you know, you're this is Classic where you're rotating around the midpoint of a pivot and then you break out and that's and that and so Understanding the context of that structure gives you insight to you know, how do you jump on this train? You know, how do you jump on that breakout and how do we seeing that in the order book with the expectation? You know, the expectation is hey, we've broken out We should we should see that in in the order book in the moment and when you do then you're in alignment And it's all good But for you know, so now we've got sentiment below the critical range So now since it's down here, it's not in the middle. So it's different So there's a different structure and so what this structure tells us is that the energy is down here And the energy is actually outside the critical range. So this whole zone here becomes a good, you know buy area for Bitcoin So 30,000 354 down to 20,000 640 for November, right? So I'm gonna I'm gonna get rid of that previous Previous periods and we can keep our numbers straight. I don't want you guys to think that those Are gonna have a lot of value right now But that's what I wanted to show you Okay, I'm messing up my labels here. I do have a fix to that and Have it installed next week so So now we are you know, I'm going to add some our validation points. So we have our we have some interior price points this top of the critical range is If we get a breakout above this monthly high the expectation especially for the start of the new month would be for the market to stall out here So we do get a new impulse At least in the first seven days, we'd anticipate, you know, this market so if you're trading weekly options You know this thirty seven five hundred dollar strike is going to be a big deal as a potential containment and For this positive momentum, so we see, you know, you have this positive price structure You know, that's going to start to break down if we fail from here and Then you have This isn't this is the real structure low point, right? Actually, this is right here We had this big spike and we had a pullback here and these are all Lower than that So a lot of these lows don't really matter, right? So your your risk on price structure is here and That's coming into alignment This thirty two eight hundred levels coming into alignment with this directional with the metric boundary of the directional So that this is nice when we get this kind of alignment. So if we you know, also we have Below this point here is when the positive start market structure starts to break down So this is the this and with the settlement range Low here With this alignment here in this confluence, you know, this is identifying this area as the solid base So if this positive momentum is going to continue for November, we're going to have this, you know, this thing scale back higher Market really shouldn't trade below 33197 basis the finance perp if it does we're back into Okay, where's the you know just looking at the classic, you know our Previous month high previous month midpoint and our previous month low point You know, we're going to you know going for that midpoint and then coming in here making a play for our sentiment bias basis Bitcoin So now I'm going to put what we call our validation points on to just get more clarity more granularity and what's happening here I'm gonna blow this up a little bit Again, this is a monthly time frame so the structures are bigger We can take a look at the daily Shortly, I don't know if I'm gonna have time to get into the ether. I can answer questions later on that But So what's happening here, you know, you know, so we're going up the food chain, you know, we've got price structure We've got time frame structure. We looked at this discovery where we're at and so now we can see that the market Then we had this alignment with the settlement range high and what we call our critical range positive area And so what'll happen a lot of times when the market's looking to make a decision It'll it'll kind of rotate it'll you know, it'll challenge this area first and then it'll look to trade back within this directional area and Then sometimes if it can't really make up its mind at all, it'll rotate all the way down to this area And it'll have this rotation within this This this interior critical range and at levels You know if we Are you know if we're going to maintain this aggressive buying We're going to maintain a trade above the settlement range Midpoint right now and then we start to trade above here and we start to base above here That's gonna that'll be our tell that the market wants to shift into trend mode It wants to take out this high. He wants to make a new time frame high It wants to you know, take out the november high and have and have november have and make a new high higher Move high positive trend and and with the expectation for the first week Just you know really just the first week because who you know this thing Who knows where this thing can go up? It starts to you know get on a train Would be to you know stall out around the upside pivot. That's what up stands for and and with you know Kind of a capitulation high of 38,926 at what we call our critical range extreme Because that that is the point Which validates a larger breakout And if we get a breakout of this critical range area, where can it go? It can go you know what we call a 2a PMD move or a two-segment move up to with this ut2 Which stands for upside target two Which is a 44,069 So that's the structure on the upside We currently have not You know moved out of this You know in this critical range is really a behavioral zone. We haven't moved out of that yet. We haven't validated above 35,204 Which is also the settlement range high. This is a key area We take that out more likely this monthly Previous monthly high is in jeopardy and we're gonna you know make and look for the expansion of that opening range And look to set an opening range high This may be the opening range low Who knows If you know if all of a sudden you know Market doesn't like what paul has to say and we Have a negative tweak which more likely is more likely to occur since we've stalled out here A lot of times and we're also trading negative on the month And we challenge this settlement range high The market likes to just test its boundaries. So it makes sense for this thing to Have a pullback and we could get a pullback down to this, you know 33,200 area Today and how the market behaves here is going to be a big deal Because that's going to set the stage for the balance of the month Because just as with price structure, we're looking for the market to hold higher move highs higher move lows With the price map structure, which is what this is called the price map We're looking for then it and it represents the market structure Which which defines the boundaries of the context of the market We expect it to climb the stairs You know it should make you know higher steps and just you know step higher Come down hold the step step higher hold the step step higher And that's what we're looking for and so if it breaks structure here It's it's a negative signal and now we're stepping down And since we know sentiments below the market, this is our expectation Because markets like to go to where liquidity is and this is where liquidity is for bitcoin this month So we have some key points, you know to to make note of 35,204 And 33,197 33 200 and we've got 28,640 so you know trading Spot or you know different exchanges. That's one of the issues with With trading cryptos is what price you're looking at But basically those zones All right, so let's let's let's start you know, so now we've got a good sense of What's happening on the bigger scale? So let's let's flip gears here and just say okay So the market's indecisive on the big scale more likely on the bigger scale It's telling us he wants to go lower. It looks like we've got this You know the settlement range midpoint is kind of big coming in at You know around 34,200, you know, what does that look like a basis the daily? I'm going to throw the daily on here and And so now I'm going into the daily time structure and and we and what what jumps out at us is that the sentiment bias for today Right, so we were looking at sentiment bias for the month which will last through the month But what the sentiment bias for today in bitcoin and that would just last that's the daily structure Right, so we're going down to a smaller time frame Uh Basically it's coming in just below the settlement range midpoint And this is what we're talking about with when you look for alignment with higher and lower time frames and the power of that And so this is really interesting because we've got For bitcoin today, you know the sentiment bias Was at the downside pivot. So again a little different structure still positive And the upside pivot the top of the critical range was in alignment with the cr plus So here we had, you know monthly alignment From the cr the cr plus with the daily upside pivot And the monthly settlement range high So let's let's just flip out, you know, so we've got our big picture. We're we're going down micro. Let's let's flip out of the The monthly here for a moment And let's dial in let's take a look at the daily And this is your daily workflow right here So it's it's all the same process, right? We have you know, it's the same information You know, absolutely we're mark to market. You know the Settlement range is really the first four hours of trading then you've got the opening range is the The next four hours and the market starts to make decisions and here we have our time frame structure And we've got a market that you know, the you know, the closest they open Immediately it's it's not change negative all day. What's what could it do? It's either gonna, you know At this point, it's either going to test the high or it's going to test the midpoint So it tests the midpoint Rotating around it, you know, this is just giving us some insight. What's happening? What's the expectation? Hey, you know here expectations. It's going to come down here. It did test the low point Well, it can't it pops back above here, you know, and it breaks in here. We're looking at price structure We had this negative price structure and at this point Here the price structure broke we stopped making lower highs And we and we and we did that after we rotated above the midpoint And then the then the market is not able to make a lower move low and we're starting to you know Now it's flipping the other way You know, this is a this is a lower high here So, you know, we're really looking back to this low is the key low And we get this surge makes a new high So this is positive and it doesn't hold structure and immediately it's back Net change negative and you can see these these are just facts, right? And the and the markets behave, you know holding structure, right? You know this time frame structure So the market comes right, but this is the expectation too the market fails from the Can't sustain a trade above the previous session high point and we pull back to the the midpoint We retest the close it's classic You know, was that it? Are we is this just a big squeeze and we're going to get going? Well, if we are then we're going to stabilize above the previous days close We're going to go net change positive and we can't do it And so What else do we know? Well, this market try isn't going anywhere today because a pile is coming out So what's it going to do? It's going to go test the lower metric boundary So it tests the previous days low point and now we're back in the midpoint. Okay, so we got that insight So now let's take a look at sentiment Okay, well Here, you know, what do we know from the start of the day from the start of the day? This is this is where the buying energy is and from here So let's so now let's let's throw on the critical range So we we know that, you know, the buying energy is here You know, the fact that we aren't trading here tells us we might get an opportunity to buy this area But we we didn't we did not get that So let's take a look at those interior critical range points So this is this is something that we talked about earlier with the monthly and the structure is all the same The beauty of this stuff and when you learn it and you can come into our trade room to learn about this stuff Is you know, it it you know, it doesn't happen exactly but you know, it's you know, what does they say, you know You know markets rhyme, you know, and and you'll see You know at the start of the trade period the market will rotate or challenge these Interior critical range levels to make a decision. Are we going to go lower? Are we going to go higher? Well, we couldn't validate going lower We couldn't validate a move into this area the market stabilized above it And then with this midpoint here, it gives you another kind of insight, you know, it's a Momentum level. So there's as we get above here. We can't take out that low We know sentiments below the market, you know, it gives us insight, especially this is and this is where you're here right And I actually should have this data here So this is still early and and this didn't Give us a lot of insight and intensity of trade. I'd have to maybe adjust my parameters, but it's also a minor level. So That may be the case, but it is nice when you have the vwap coming in into this alignment as well and With a market that and then let's let's take a look at our other application Because this this is what is giving us our insight into Why we like it? so the Bitcoin perpetual is in a bull trend market state So this is the the underlying context for for bull for bitcoin is bull trend And so the expectation higher move highs higher move lows. Is it performing to expectation or not? So we're we expect it to hold structure and make positive impulses And then when we identify the structure of that we understand that okay. Well sentiments in alignment with the bottom of the critical range That's that's kind of a power stance for a bull trend because the market's off the Low point of the critical range and it's telling us that sentiment is positive above this price point And it also identifies. Okay. Where's that inflection point where the market needs to breach to extend? And it's telling us that you know, the 35,218 level the upside pivot is going to do that So as long as we're above the dp The the the type of risk state is what I call less risk. It's more it's like a gravate You know, it's going to gravitate to the upside But the you know, it really doesn't shift into a complete risk off where we you know when the market's vulnerable to positive events Um until we're above the metric boundary of the upside pivot And so if we're in that state we're in that structure. What are the strategy themes? Well, you know currently with uh With bitcoin You know the market Was maintaining, you know positive structure above the r level. It was maintaining this uh optimal theme And then Then the you know, and then we get a move to the upside and we get a An exhaustive hedge strategy that kicked in the market couldn't Overcome the upside pivot And we get this sharp rejection back to the downside pivot, but it's back into our sweet spot So the market has been just it's been holding structure and You know, it's gonna we're probably going to be in this mode for you know, whatever at least another hour and then And then it's going to make some decisions And it's going to make decisions, you know here why Because we we challenge it to the upside that this the structure was valid it held We challenge the downside. This is our sentiment bias for the trade period And if the market's positive it's going to get back it's going to go net change positive on the day Which is going to be above the directional and so basing above here and since we've already taken out The previous day's high point Which is a positive signal you know, we could you know Revisit, you know revisit these highs We're not expecting the market to start trending or break out the day is pretty much over Definitely on the upside because the upside already went and if the upside was good It should have gone and it shouldn't have come back, but it did So What's more likely to occur is that you know if we did base above here? It's going to be more, you know firm sideways And if we can't base above here We're more likely going to test this area And what can happen is you know since We broke market structure Because we started climbing the staircase here and then we start and we broke it here And we're now we're climbing back down the other way We're either likely to go sideways into the next trade period. So that would be Daily structure is going to shift it 12 midnight UTC time. So I'm in Chicago. That's 7 p.m. My time Or or this hedge theme is going to dominate And so the trigger on the hedge theme dominating is the market failing here Which is also the previous day's low And daily sentiment and so So now we so now we have this, you know baseline We have our context Backdrop we're bull trend Are we, you know, we're not performing like a bull trend should Right, so we're not optimally in an optimal performance We were and then we shifted into a hedge theme when we and then we broke structure We did hold sentiment. So is this are we re-engaging this positive trend? Or are we going to be in the hedge theme or we just is the day over and we're into a non-event? So now we can go into the order book and see what's happening Just to get some kind of insight to What did occur? and here's here's some interesting stuff and then Kind of ran out of time here Next time I'll we know we didn't get a late start. So I'll go I'll go a little a little over I was talking about this the other day when you're having and you know This intensity of trade and you're having it through the figure And especially after we've gone through this the v-wap And then you know, so that's this is this breakout So we're getting this happening here and it's above the previous day's close as well And then versus having this additional intensity of trade in front of the figure So a lot of times when this happens You got these people chasing it and they're chasing it in front and And and a lot of times this is a tell that you know, this is this is going to contain the market Another another tell of why the mark, you know, there's a bunch of tells why we would have exhausted here You know one of them being that, you know, it's the start of the new month and we've got You know Paul speaking, you know today and you know, we've got news events Are having the markets going to want to wait to just see what happens So it's unlikely that it's really going to make a big move in front of that news And we also know that they you know the breakout. What's the max risk? We're really above here Because that's our critical range extreme and you can see how we had this resting paper Above the market in alignment with our extreme there. So we had we had, you know Money that's up here saying, okay. Yeah, this is uh, this this market is going to be contained at the most here But we you know, we also know the upside pivot is a big deal And then when you get this intensity to trade into that figure Um, and then it flips and we get some, you know, we get some sellers that are coming in here That's telling us, okay That you know, this is we could see a rejection and where can we see a rejection to back down to the To the directional And if this is turning into a hedge theme then after the market can't stabilize above the directional here And a retest here and it holds a daily close. It just tells us where, you know further Defines that this hedge theme that we're in is corrective hedge seem and where can it go, you know, even here The target is here You know, because we know that if this structure holds You where you where could it go if all certain go here? And so now they attain that so that you know, they they basically They gave us some money on the upside and the downside today And then we and again here we got in the upside. So now now the market is basically in the waiting seat and You're waiting for the news and then after in you know, but basically the the numbers are on a daily basis is this 34,700 And 34,100 So this is you know, if you're teeing up for a move into the next session or what's going to happen later today That's those are the parameters So we're you know, we're either what's more likely if we're going to hug this midpoint, you know for the balance of the session Or a positive move is going to be more lackluster. So you wouldn't expect this action to return You would expect more stop and go above here because they already market already tried to do that If we get the market starts to fail, we would expect more of this Panic kind of emotional trade with the potential of coming down to this 33,000 level on an event and that comes in into alignment with a retest of the The monthly directional You know, so really anywhere in this zone is kind of what the market likes to kind of retest that's uh, that's what I went over before um Again always just you know looking for the alignment with higher and lower time frames To get you the context So when you're coming here and so here's the same situation Off the r level where you had Well, this is a good Good example here of intensity of trade where you have this intensity of trade pushing through and giving us this negative signal below the metric boundary And then on the retest you had the alignment with the v-wap and the previous day's close To giving us, you know confidence And then we're not getting any support and you know, there's no we're not getting this intensity of trade of buying here And so this and this structure gives us insight That you know, we're in this and also we're we know that the market held structure here and we're in this hedge Then we're kind of it can go here and so that that's set up In the order book here and then we get this You know big selling pressure into the figure, but we know this is the big buy area We know this is there's going to be liquidity here And so when you're getting this intensity of trade in front of it and these big sellers, you know The expectation is is they're potentially going to get stuck And so you don't you don't need to catch a falling knife here But you're waiting for that that uh intensity to stop and then when you when the market qualifies back above this Metric boundary and we break price structure here You know, that's a tell that we're at least going to get a retest of this cr minus area, if not the directional And so we're getting that you know, and we're getting that retest the directional now All right, so any questions you can you know feel free to post and you can post in the discord channel as well Or you can email me You know again, you know, here's the kind of the bigger picture what's going on where we're at So this you know this 34,700 level is going to be really key right now for bitcoin And if you want to you know get a better understanding of these tools you'll come to Darmic capital trade and you can sign up with us We also are on substack And you can get our weekly free weekly outlook there And you can follow us on twitter at dharma cap trading So I hope you enjoyed the presentation, you know, click like and forward this to your friends And we'll see you next week Good trading. Cheers