 Hey folks welcome to Monday the 28th of June 2021 just that day one back from a nice break To be with my newborn son PJ so we're all doing great and thanks for all the well wishes So without further ado, I'm gonna get on to these crypto charts and we have had a really miserable probably two weeks I would say Really punctuated to start off with Elon sort of commentary interference with the markets But really the main the main things Themes that we need to be aware of in the marketplace are last week You know we had Chinese authorities clamping down quite hard on mining activities there were videos and pictures all over Twitter and YouTube on mining operations with thousands of GPUs at work in the markets Taking them offline taking them off racks Shipping them out. I literally saw guys with shovels and buckets loading CPUs into into trucks and trailers and of course a little little known thing There is that these GPUs and whatnot are not licensed to be used in other territories the ones that are used in mainland China and The power ratings and whatnot and the safety ratings on these GPU units is is not Legal street legal I think for European Regulations or for your US regulations. So, you know when it comes to the question of where are these miners going to go? I think it's not a big deal. I think they're going to go offshore China You know, they could go to Vietnam Taiwan Lots of different places so actually to look back on what happened there with Chinese regulation clamping down You're really just going to see a migration of that mining activity from mainland China To other territories and I actually see it as a bullish story, but not in the short term Definitely in the medium term being a three to six month view and of course the longer term view is kind of probably the six months to From six months or a year onwards, right? So really, you know, I think that's quite a bullish thing for the longer term Backholders would be like What else we can look at in the major themes within the market We can look at really the biggest story at the moment being and that we of course have the UK financial regulator the FCA coming in as of yesterday and Talking about that they put on They put on basically I think some warrants Towards Binance essentially they've ordered Binance limited and to Stop Stop the regulated activities in the UK. Now what this means is it actually means that Binance are essentially a broker and an exchange at the same time There are lots of brokers and exchanges in the markets, especially in the CFD markets in the UK They are registered offshore in places like Malta for example But Binance the the division of Binance It's it's quite a separated company and siloed company and the division that the FCA have put these orders against and Is actually completely siloed off from the mothership? Which is kind of Binance limited Singapore? I think it is and so that's the one that I have an account with as well There's Binance that us there's Binance it. I think there's quite a few So this isn't really as impactful and as negative a story as we might like to imagine For these markets, you know I'm actually looking at a lot of the major coins like Ethereum is up 15% this morning Link is up 14% Stellar is up 12 and 12 and a half up to three-quarter percent You know, it's it's not really that negative a story Because essentially Binance is buffered against this sort of activity coming against them, right? It's buffered against that and but it is the UK government saying listen, you know what? We don't think our customers and the public are well protected against some of the activities going on Added to that the main reasoning for this action against Binance is of course to do with method to financial regulations Now method to financial regulations are really in place to clamp down on Two things anti money. Sorry. Well anti terrorism financing and then money laundering, okay? So these two activities, these are the you know main activities AML anti money laundering and Anti-terrorist funding right and so the UK regulators come in and said, you know what? We think there's quite a lot of that going on in Binance, right? And they regularly do this with a lot of licensed exchanges and brokers So if you're a money manager, you kind of have to be a method to certified and Take a course. I've taken the course in the past Where you have to kind of know your customer or these sorts of things, right? And so this isn't really that big a deal But of course it does make a terrible headline for Binance and so here we are So let's go across to the charts and have a look at what really I make out of these Because I don't really see it being as terrible for Binance Or for the markets as people may may get out to be and so let's just go through the main coins first We'll cover Bitcoin Excuse me and Ethereum. I'll just take some coffee before My throat shuts down. All right. So here we are on Bitcoin now I'm not actually I don't actually have my current price line on here, which is a little bit disconcerting Or I do so current price. I think for me current price at the moment I just have to check on my connection, but it should be in and around the 33s. Just let me check that Um, just going to type that on Binance Bitcoin USD Okay USDT. Okay. So here you go. I'll actually bring this chart in We're trading 348 50s 348 50s. So should actually have that Here but Irregardless these are daily bars. Okay, so I don't really want to get down to the muesha of 60-minute bars on this because it's you know, we really need to take a broad view with these markets so Um, yeah, I think look I've been saying it all along I think 20,000 is where we need to get to to pick up the real bars in this market and then get back on up here for you know, 100,000 for example, so You know every commentator on bitcoin in the market now Seems to talk about Wyckoff distributions and accumulation. Well, you know If enough people talk about something in the market and use a tool in the market Well, guess what that tool becomes all important and all prevalent I often say that You know, if Warren Buffett said that he makes his investment decisions by how sheep wakes up in the morning You would suddenly see a spike in in the price of sheep, you know, because people would just Well for for want of a better pun people would flock to that as a signal generator, right? Because they you know, it's Warren Buffett, right? so a couple of the technical analysts who are quite prominent on youtube have Been explaining Wyckoff distributions and what they look like and how you should trade them. And so therefore you actually do see A huge Wyckoff accumulation phase here Coming up into distribution. This is a bit of a fluff here This is um This is then accumulation for distribution again here bear flag accumulation for distribution And now we're coming back in here accumulation For distribution possibly on the upside. So yeah, I do see a push to 46s But I don't think that can distribute back down to 20s at some time. So for me, it's Look, I'm just going to wait and see how this trades. I don't actually own any bitcoin now I'm just way deep in defy. So where is the price going? It's very hard to say at the moment, but for me, I would say we have support on 31 of 4 27s And we have resistance on 46s. So really that range I think will play out over the next probably month to bring us into start of august So that's bitcoin. I don't want to harp on about it too much, but certainly the rhetoric I'm seeing in the media is that You know what? Maybe bitcoin is a little too useless. Maybe we like ethereum. Maybe we like the smarter contract and the networking abilities the defy appeal of something like ethereum. So that brings us on to ethereum and here we are. So I definitely do see major buying support 13 57 spot 30. That was indeed high from actually, I don't have the dates available back here, but you can see really good level to be involved At four here and selling down Back at this point was really well well supported and to come back up. But unfortunately, you know, you do see this pennant structure Let me just show you this here this type of pennant structure thing Happened all of the time and we do exit the way we come in And so, you know at this point here We did exit the way we came in. So we came into it from the downside Well, this is all actually earmarked by the bear flag that we had up here This was the actual pullback point here Very easy trading to be honest to short that thing there On the bear flag formation traded down into well pick your supports. But now When it starts to consolidate here people go, okay, yeah, yeah, it's caught in a better range here We have support we should trade back up to new all-time highs Incorrect because it's starting to accumulate In a flag or a sorry pennant pattern and it will exit the way it came in to the downside So I don't want to have a big set of drawings here On this chart want to keep it very simple And so there's a Ethereum trading 20 69 spot 8 at the moment Yeah, I mean I haven't I haven't changed these charts in quite a long time Not certainly since I left for a break. So Yeah, I think we could get higher in in in Ethereum back up to the 25s But you know, I'd rather really to tear in again for the buy for the long hold I'd rather wait for a 13 57 spot 30 and you know, have a limit order in there And buying it not on margin not on leverage Or on full margin and not buying any leverage and and if it does come down to the 495 stand here for support or you know, let's say the 916 is Well, you don't have to stress about that. I mean, yeah, you're taking a drawdown on your funds But ultimately I do believe in much much higher pricing for Ethereum 5000, for example Being the first major stop on the upside Okay, moving on Maddox Maddox not really a major coin like Ethereum or bitcoin However, you know a couple of traders that I kind of collaborate with in texas are big and maddox member of the elite team That we work within the uk is also being a maddox I've taken a little bit of this not much lottery ticket money to be honest And I am looking for much higher prices. It is well supported on the range that we identified back here So, you know, I do like the high spot 78 29s. This is maddox to the euro So, you know, it's the structure and the shape of the market will be the same on maddox to USD So you just have to put on your drawings or or you could easily convert these prices to dollar Market prices from the euro should you wish to trade the structure? This is not investment advice. This is educational purposes only so Yeah, I like this range in pink here. Look at the support that came in. Look at that support what like 10 days ago 3 4 4 6 7 days ago a week ago I mean look at that support. It does look like it has a face rip in mind Back up here, but You know remaining to be seen I'd love to probably see this thing trade down to the 55s the zero spot 55s Get along and then trade that thing up And I don't really understand the fundamentals on maddox as well as I do on the other products though Um, just let me get some of these fans off here. I think it's kicking up a lot of dust in my office And the one under my desk, okay Let's have a look at the doge. Yeah, I mean doge I don't know. I mean I had a couple of buy points in here You can see support did come in at this point And again at the bottom of the range will be where I really do want to get on board with probably tearing in Just another small amount of money again sort of lottery ticket money Just you know a couple of hundred maybe a couple of thousands into this, you know and then look for some upside Um, didn't really take too much of this off at the tops When I think we're up, uh We're up about 2000 percent on the trade And you know, look, I'm not I'm not really making a living at a trade in crypto. It's more futures is my bag and so Uh You know, I'm not going to be putting too much attention into this day today And so that's why I'm really trading the daily bar candles rather than trying to trade like 60 minute bars Let's look at cardano Cardano having a pretty decent morning Something here. Yeah, it's up about 10 percent We're not actually seeing that I think my exchange is a little bit behind times right now, but Um, yeah, I think we're working the pink range here Uh, I think a breach to the downside is going to be extremely meaningful for cardano But you know, if it does, I just think it's going to be well supported. I really do You know, it seems a lot of demand here for for contracts on this product And anything below this, uh range that I've identified, right? So, you know, we're just coming into major swing buyers territory Should we come down here and probably I'm going to put on like some moving averages on these so next monday You'll probably see where we sit against the moving averages on a lot of these products um Yeah, what else? Stellar, yeah, I think stellar is actually having a decent day But it has dropped out of of its supportive range. And so again Into this area where we do have really good demand And uh, I think that demand, you know, well, it is trying to pick up again So, you know, if you're long at the moment from any of these lows, it'll be only prudent to take something off here And uh, the spot, uh, zero Or zero spot 25, uh, Euro cents to the stellar lumen And again, you know, I'm holding these things for the medium to long term. So I'm not too to obsessed with Any of this price action at this time, you know, I think we're going to be trading much higher in this product over the next 24 months Um, so that's really it for the major coins to look at ripple as well. Of course ripple um You know testing the high of this uh consolidation range that it had been in for quite some time I do believe the future is a lot brighter for ripple than it was through any of this here any of this They've sorted out their court case. It's looking really good future wise for this coin So I do see a lot of good support coming in here and anything in this area should be bought Uh, essentially that stands to spot three, uh, Euro cents per coin Up to sort of spot five four, uh Euro cents. So Okay, I posted in the uh in the app by crypto room an article that was published on zero hedge Which also then had an accompanying Wharton finance school report on defi space I highly recommend going back and having a look at that Go read the article read the report. It's uh, really fantastic stuff And uh, if you know if you want to know a little bit more about defi And where it's all going who are the major players? And what are the networks what stage are the networks at et cetera, et cetera All right guys girls if you're interested in joining us in the futures trading room, uh for live, uh coverage of our Of our markets, uh what we look at really in that area is uh this You've got Euro cable gold Dax spooze. We also look at nasdaq once we open on the u.s. Uh the dow Spooze being uh the s and p 500 Um, that's that's we get stopped at or something there um, so What else bonds wti? T-notes and the dixie so We look at these pretty much every day From 8 a.m. To 10 a.m. And then uh, we cover back on again We lead into the u.s. Session at one o'clock with a pre u.s video Uh covering what we expect to see throughout the upcoming session And we also cover data events as they break both in the euro morning and in the u.s. Session So, you know, we've got a really good crew. Uh, we're spotting a lot of great trades here guys and girls. So Um, yeah, it'd be great to have any new comers Along so with that i'm going to wrap it up for this week's edition of the crypto week ahead And i wish you all the best and uh keep your your risk well managed guys and girls. Cheers. Talk to you soon. Bye. Bye