 The point is that looking at Bitcoin, if you're investing in Bitcoin, you have to really understand what it is that you're buying into and kind of believe in that narrative. Now Bitcoin came out and it was supposed to take over the banking system, a medium of exchange, disrupt the payment system, obviously it hasn't done that too slow, too expensive. Now it's being seen as a store of value. Again, personally, it doesn't mean I'm whether I'm right or wrong, it's just my opinion, but I don't totally buy it. I don't totally believe in that narrative. So I'm personally staying out. But for anybody who is buying Bitcoin, trading Bitcoin in a sense has to understand that when you get a lot of eyeballs on an asset, you're going to get massive pullbacks. Yesterday I think it was, you can see that massive swing and that's basically just liquidity, stop hunting, et cetera. So as you know, and many people I guess in the group, but not many other people may not understand, even people in the group may not understand this. But for somebody, you know, for Bitcoin to go higher, there has to be enough sell orders, has to be sell orders for buying to facilitate, have to match the buying with the selling, that's what liquidity is. If there's not enough sell orders to facilitate the buying, then the only natural way, the only area that sell orders are going to be is below the market. And why are they going to be below the market? Because that's where traders' stop losses are, right? Yeah, that's it. You know what I mean? Even a take profit, if you're buying your take profit is a sell and your stop loss is a sell order. Now, again, with the narrative of 146,000 plus Bitcoin long term target, like I said, you can bet, you know, everything you own, that traders are literally now looking to buy in, right? Buying in because the logic is, well, the unsophisticated, the retail trader in general looking to buy in at this price. Now, again, if you're not trading with, if you're literally buying Bitcoin as far as on something like Coinbase or, you know, Binance or wherever it is, and you're actually holding physical Bitcoin, then that's fine, right? You're holding for the long term. You're not trading with any kind of margin or leverage, right? But we're from a trading perspective, which the banks are going to, you know, be doing, you know, they've got, I think they've got a futures market in Bitcoin, et cetera. And they're looking to obviously, you know, there's obviously leverage and margin trading. But the point is in derivatives, but the point is, is that if you're looking to buy Bitcoin or trade Bitcoin, you really should expect at some point, no one knows exactly when it's going to happen, but really large swings. And I'm talking about, you know, really kind of deep pullbacks. Yes, we understand that there are demand zones here, demand zones here, demand zones here, for example. But from a technical analysis perspective, there's no demand zone or no supply zone or no level, no technical indicator that is going to stand in the way of liquidity. I mean, it's just a technical pattern. Yes, we identify where value potentially is, but it's whether the market agrees that there is, you know, enough, you know, buying enough demand at that area for prices to want to, you know, reverse. So buying Bitcoin, obviously the best places to buy are obviously at, you know, areas of, you know, demand with the confluences that we use. But for me, I think you're probably going to see at some point, whether it's, you know, you know, it definitely could be this year, but whether it's, you know, next week, tomorrow, next month, whatever it is, you're going to see probably massive pullbacks. This is unsustainable. You know, I mean, that that moves with no major pullback to even fair value. If you're looking at, you know, where the move probably started from from around here, right? And if we grab our, you know, a fair value tool, right? So fair value, as we know, is 50 percent between an expensive and a bargain area. So at one point that would have looked expensive, right? The higher of a range or the higher of price, that would have been expensive. But we don't see any kind of pullback to fair value. And markets must have, you know, mean reversion, right? And there's a financial theory that price tends to revert back to its mean. Yeah. So if you're thinking about mean reversion, prices haven't pulled back to their mean. And I guess I don't have to go through all those bars. But if we pull it up, if we pull this, it hasn't pulled back, right? Has not pulled back, has not pulled back, has not pulled back, has not pulled back to that 50 percent, even when it kind of pulled back around, you know, the 20,000 area hasn't pulled back to the mean. So at best, you want to start looking for you know, if you're looking at fair, what fair value is between an expensive area where probably the trend, you know, started somewhere around that 10,000 area. You know, because we were in a bit of a range, I guess, from, you know, from here to here, prices were contained between that range. So if we're looking at that as being the last range and this being, you know, breakout, then probably fair value is at the low of that range there. So fair value actually is at around the 22,000 Bitcoin mark. Now, again, for now, if this remains the high and price can't push higher, that's the fair value area here. Now, in the meantime, getting back to liquidity, we have to understand that if the financial institutions are now looking at buying, yeah, as they are, definitely, so strategists say digital asset is competing with gold for flows. Again, if that's what strategists say, I guess that's what the thing is. But I don't personally believe it might be, you know, dropping Bitcoin volatility needed to unlock, you know, price potential. But the point is in this is that if the financial institutions want to go long now on Bitcoin, yeah, yes, they're looking, they're probably going to be buying also at highs if they believe long term. But if they're trading for as derivative spot using leverage, et cetera, then what they need to do is they need to create liquidity for them to buy. They need to create the buying or they need to create, actually, sell orders for them to buy. And how do they do that by, you know, certain patents, right? So we know that, for example, when you see massive moves to the downsides, you know, massive candles, what does what does that do? That seduces traders into going, what? Sure. Sure. When traders take a new trade, sure. Who's on the other side of that trade? It's the big guys. There you go. It's the big guys. Right. Again, at certain areas of obvious support and resistance levels. So what they'll do is they'll create a level, yeah, manipulate markets, create levels, yeah. And then we've traders looking to do what at levels that support buy. Yeah. What's what's their stop loss? Just below the level. There you go. And it's a sell order. Then they'll manipulate the market to take out the sell orders. And at the same time, they can buy as they manipulate market because the transfer of wealth is from the loser to the winner. When our stop loss in our seller order is triggered, it transfers to the entity on the other side of that. Yeah. I mean, so and, you know, so there's many different ways to seduce, you know, buying in. And it's usually to the two ways is literally driving markets down. And as they drive markets down, they basically buy as the market is going down. Yeah. Well, or manipulating stop losses below those those areas, as we know, because we we trade stop hunts, right? So so you know this, but I want to relate this to to to to gold, right? So gold at the beginning of the year. And this is what I was going to create the video on. So yeah. So I don't know if you were trading or looking at gold around March, were you looking at gold around in? No, I wasn't here. Right. So you know now anyway that, you know, what what had happened, right? With with gold, but at the time in March, when this was happening, you know, there was the Fed was slashing rates. And this was basically just due to coronavirus, you know, the world economy going into lockdown. Yeah. And so what they pretty much, you know, did or what the financial markets, say financial markets, but gold and the banks really did was they they wanted to buy gold, right? Now, everybody was looking to to buy. But what happened during this period? Well, it's when you go now, the average price action trader believes that price action is king. Yeah, does not slightest clue. Yeah. All right. Fair enough, there were traders that would have made money on the downside, right? And just because you make money on a on a certain asset doesn't mean it was the right thing to do, right? Just because, you know, we we tend to justify actions by the result. But doesn't mean because you because because you lie and get away with it, doesn't mean that it's the right thing to do, right? So so it doesn't, you know, but but but what do you think the financial institutions were doing? Right, because they didn't want to buy gold at 16s. They wanted to buy golds for cheap. You know, so all they were doing as prices were coming down and manipulating prices to go lower. Yeah, they were buying, buying, buying, buying heavily into that because obviously gold being a safe haven asset, you know, the sky was falling, etc. And many people think, oh, they go, oh, fundamentals don't work. Fundamentals don't work, but they do just not when you want them to. You know, I mean, it's not because just all right, you know, we're in coronavirus, so prices are going to go higher because everybody remember again, liquidity, if everybody is buying, if there's nobody selling, then where is the liquidity? It must have been below the market. So below these swings here, right? Stop losses, stop losses, you know, I mean, it must have been, it must have cleared out all of the stops, but also allowed them creating the liquidity to the downside. So lots of selling who's not going to be tempted by that, you know, that downward price movement into getting short, especially over what a week or two, but the smart money were doing what? And at this time, you can go back in the group as well, you know, and look at this, I was saying that this was basically a massive stop on and look at what happened here. And it's the same thing, right? So, you know, you get traders that want to get short, you know, around highs. Yeah, all right. And then what tends to happen is as they're getting short, so if they're selling here, yeah, and selling here, again, not to say that they can't make money or whatever it is, but what do you think is going on as these guys are pressing sell? There's a buyer, it's accumulating liquidity through that. Oh, that's the accumulation phase, what they were calling you. But you would never know any of this if you don't understand fundamental analysis, as we know. So going back to Bitcoin and look at this trade, oh, by the way, are you in this trade? Did you get into gold down here? No, no, I didn't get into gold here. Oh, I got in on silver to be fair. I got in silver. I got in on silver. Yeah, December. December and like January are very busy for me at work. Oh, OK, OK, no one. But did you get into silver on this trade? Do you get in on this? Yeah, I got in on this. Filling with me. So it's going to be a nice profit, a nice, nice, nice profit on the market. Just have a quick look on silver. GSD, looking at silver. Yeah, so it's making it. So you got in around, yeah, it's 22 level. Yeah, yeah, yeah, that was it. Brilliant. Anyways, so going back to back to back to Bitcoin and client is all in is is just if if if you are considering or if anyone, you know, considering I'm recording, it's obviously like, you know, he's watching this. It's just understanding value at the moment. We know this is expensive. Yeah, because otherwise prices would have gone higher if it wasn't. So but I expect just like on gold where you get massive pullbacks to create if prices do want to go higher, you're going to have to have deep pullbacks to, you know, to these areas. Now, you're going to see probably narratives that say, oh, Bitcoin is crashing from 35, you know, 45,000 to 22,000. Smart money are just saying, hmm, this is my buying opportunity. And anything below that, as we know, is a bargain. But we have if you believe the narrative, you know, I mean, of that Bitcoin is a store of value. The dollar is being devalued because I think Citigroup as well, you know, last year we were talking about this, talking about this for ages. Anyways, the Citigroup dollar may drop by 20 percent next year, you know, and that narrative is still, you know, true, I guess, as we know. And oh, by the way, did you did you see the the not to get sidetracked, but did you see the 2021 let me go to bank research where they have data from all big institutions. Yeah, I'm actually halfway through that I'm reading. I was reading it this morning. Yeah, very interesting in it. Very, very, very interesting. This is the kind of thing that we need to. I'm going to cover it probably tomorrow in them. See probably I will cover it tomorrow in tomorrow's group call. Definitely will, because this is something that comes out when, when, when, when, when this type of analysis comes out, you have to, you know, you have to read it and understand where the general themes are. So very, very good. But again, back to, you know, Bitcoin and understanding value. If you believe that the dollar is going to be value, you believe that Bitcoin is a safe, a safe haven and a store of value and a hedge against inflation. Basically, hedge inflation being a weaker dollar, as you know, a devalued dollar than any pullbacks are literally buying opportunities and that's pretty much it. So supply and demand, I get a lot of questions about whether supply and demand works on, you know, on cryptocurrencies, on bonds, on stocks, and all that kind of stuff. Supply and demand works because it's a law, but it's, it's understanding the fundamental analysis and risk sentiment and the drivers of value and future value and current value. And then you're looking at just identifying areas of, you know, a potential value and then looking to trade those areas, right? Like here was, here was a very interesting setup. And this is what is known as a bit of a CPR zone, not in the traditional sense, because we don't have an obvious obvious level at the 26,000 because price has never been up as high, but the mechanics of it is still the same. So see this pin bar here. See that pin bar? How many traders do you think were placing their stop losses? Right above that. But there, yeah, just literally looking at that candlestick pattern as a pin bar, doji, whatever you want to call it. Nice, brilliant reversal candle. Yeah. And so people reverse into, they think that price is going to reverse in dinner because if you think about where prices had gone, shallow pullback, massive. And then people just tend to want to short for, you know, for no reason, if you know what I mean, they can't go any higher. I'm going to place my stop loss above, yeah. Now, their stop loss, if they sold, yeah, is a buy order. Yeah, yeah, it's a buy order. Now, you can see that when, so one second, move that out of the way, so when price didn't reverse and carried on going higher, this is, you know, so they entered the trade, they've been captured. Pain is here. Why pain? Because, well, I'm realized, I'm realized losses, right? You know what I'm saying? Instead of risking maybe 2%, they, you know, now they're down maybe 15, 20%. So they're in, you know, pain. They're not, you know, moving, they're moving and moving their stop losses, loss of version bias or that. You know, don't trade with stop losses, etc., etc. Now, at what point do you think these guys were relieved? Look at that. When it came down there. Yeah, when it added, because if your stop loss is somewhere around here, just above that area there, yeah, or was above that pin bar and you weren't sure then what happens, you know, on the other side of that, if you want to, you know, relief, if you want to do some relief to get out at your original 1%, 2% loss, or just a break-even trade, etc., I don't think anyone got out of break-even, but, you know, a small loss, if you're sold here, you have to buy to exit and that's exactly it, demand, yeah? So there was a lot of demand, new traders looking at that level of what? Resistance should turn to what? Support, more buying, more buying there. And then new traders who managed to actually pick the top or, you know, basically managed to sell at the highs, where are they looking to take profit? If you sold up here, take profit around here, here's a buy. Buy again. So that area there. It's not the conventional way that we would look at, you know, as far as our technical setup, yeah? But you can see the mechanics behind it and it's obvious because it's driven by that pin bar right there. Yeah, yeah, what does it look like on a smaller timeframe? On a lower timeframe, let's have a quick look. Yeah, I'm gonna assume most of these traders, we don't trade as we'll be trading on a lower timeframe. Yeah, it's a lower timeframe. Oh, you've got, no, you've got, you've got intraday traders, you've got old manner of different trade. So again, you can see level, level, yeah. These guys probably would have maybe added in, you know, I mean, thinking that, you know what? Possibly, you definitely would have had traders caught down here, you know, at those, regardless of what happened here. And you can see it pretty much there. Yeah. Same mechanic. If they didn't get relieved here, yeah, if they weren't smart enough to, to exit their trade position there, or literally, they just added into a losing position. Yeah, thinking that it was gonna go lower, lower, and then it just drags them again into deep water. Because remember, 30,000 was the level, right? 30,000 was the zone that everybody was looking at. So, yeah, so you probably would have had, in fact, I know for a fact, you would have had more traders getting short in and around these zones here, 100%. Yeah, and people taking profit there. Yeah, people taking profit there, but you would have definitely had traders getting short. Short here, short here, short just below the 30,000 supposed resistance, especially there, a little zoom in a little bit. You just clear this up. Yeah, so that 30,000 right there, that level right there. Yep, that nine o'clock, this is like peak time, peak London time, you know what I mean? Yeah, yeah, yeah, yeah. Nice and golfing candle in the one hour, that's going at that 30,000 level, like it literally just came short of it, and look at that drags them right into deep water. So obvious. Yeah. And then C, P, and then if they managed to get out there for an original loss or small loss, those are the first guys that are gonna get out, but the order these guys are still caught in their positions. They're waiting for that too. Yeah, they're waiting for that, and then what happened there? They sold here, this is where demand is gonna come in from take profits, and then you've got new traders, new orders, people placing orders at what? That level here. Resistance, support, boom, right there. Now, you're seeing basically what's happening there, and that's pretty much it. The algos are in, da, da, da, da, da, da, but the mechanics of it is there, it's all there. So you can see supply and demand principles work in all markets, but the key factor is, is that you really have to understand why Bitcoin, or you have to have that belief that Bitcoin is undervalued at a certain price, or at certain prices. Yeah, to me, I don't know, ma'am. I'm just gonna stare at it for now and just observe. Yeah.