 Yeah, the thing about Bitcoin right now though, is I do think it's established itself as it's proven itself as being something to reckon with even those people like you and me who have been looking at this out on the sidelines. You see, but what's happened to Bitcoin since 2018. Do you remember the last fight 2018 we hit that 20,000 level. It went live on the CME exchange and the moment it went on CME we pretty much sold off solidly. There you got it. Yeah, from December 2018 so from 20,000 all the way down to 4000 and rally through in 2019 and 2020 just hitting a low in March there about 4000. I actually think this is really healthy for Bitcoin. I think this has formed a healthy pattern a healthy base it's a w formation that you've got there. You've been tested. We see the thing with the first rally in Bitcoin it's almost like the first rally in dot com stocks it's like the first rally in any new technology. Right people don't know what it is yet so it's very quickly for value to dissipate and be exaggerated on both sides but but now I actually feel pretty confident in Bitcoin I've not been involved in so long. I think people who have done the amplified trading program they become Bitcoin whales. I have one trader who joined us in 2015, and he mine he's got miners all over Hong Kong actually just on the other border from Hong Kong because the cheaper costs in mainland China but he's been fully involved in Bitcoin. Everyone in Bitcoin has had a really tough couple of years really because a lot of those deep believers have been holding on since the 20,000 you know I know lots of students have been involved in Bitcoin who were looking at huge amounts of money in 2018 and and just all went away you know they weren't able to take the trade off because they had a deep belief in this asset. It was a belief trade rather than if you like a thought process of a trade. But now the fact that we've beaten out a bottom around that 4000 mark this becomes a much more psychologically interesting product for me and and also we had that sell off if you go back to the 25th of November go a bit shorter to the 25th November, because we were tearing higher around the 19,000 level. Just go back a little bit further we were tearing higher and then I don't know if you saw but one of the exchanges. It was okay so okay exchange. They, they had a few security issues so they were holding a lot of Bitcoin, not letting it get out. And you can see actually if you go back then to is that that's 25th, 26th of, sorry November. November so this big candle here so do you see that big red candle. So what's really interesting about this is in the run up to that big red candle everyone's getting super excited about Bitcoin. And in fact the day before that big sell off all of the news articles are out there saying Bitcoin 20,000 everybody's getting into Bitcoin. The OK X allowed people to withdraw their Bitcoin and we had the biggest outflow that huge red candle. I actually put a tiny amount long on that red candle only because you know this, that red candle was a unique event. You know, and the fact that the OK exchange has allowed, you know that was actually a positive thing for Bitcoin, if you like it's a positive thing for the system that it's working. It's more stable than it was before that announcement. So I think that was a really interesting moment in time and I was following a few people in Twitter. And someone I was following was saying like the last time I was this sure about anything oil was trading at minus $40. And I think that leading up to that sell off we had such a strong rally, and now we've recovered from that I just, I really like the technical point on this. I like the fact that bitcoins beat out the bottom. And I believe this I haven't I haven't been involved in Bitcoin for this whole story everyone's been telling me for years, you know, you're missing out you must have been involved but I didn't feel comfortable with it. Now we've beaten out this bottom we've beaten out this pattern over the last couple of years. I really do feel comfortable with it and I really do think in this environment when you're talking about, you know, IPOs double on the first day. You know, it used to be that Bitcoin was, oh, this is a crazy valuation, right, Airbnb had a target of 40 to 60 and then IPO that 150 so I mean, what is valuation now and and and if we're talking about, you know, stocks and shares moving away from their fundamental valuations then now I think that's where Bitcoin can can play quite a nice play quite a nice game for heading into the new year, going into 2021. I think now we're through 20,000. My viewers and I'm not, I can't believe I'm saying this as someone who hasn't been is always been one of the naysayers. I'm interested. I'm interested and I think this is it's proven itself it's had to go through this journey of the last couple of years to actually win the respect of longer term traders like myself, who have been skeptical before it has sort of been through this this battle zone. So you said, you sound excited, you sound interested. How are you going to affect how are you going to get into this market, how are you going to go outright futures are you going to buy underlying are you going to do options are you going to buy ETFs. Talk to us a little bit about how you know it's a really it's a really good play I mean at the moment the small one I have is an outright future but a divided contract online. I actually think options is a really nice way to play this, especially now we're around this 20,000 level because now we're above that 20,000 could we go to 2530 shop. Right, it doesn't matter so you could probably get some quite cheap options out there for some quite far out prices. I don't know, you know, the only thing to me that would really stop this movement now would be security would be something in it like a fraud. And all obviously you can't, you can't manage that you know you got that that's a risk that I think you have to take in this one but yes have you got these options coming up now. Yeah, you're what you're looking at is the options chain on Bitcoin futures, I have never seen options this expensive in my entire life. Well it's the volatility isn't it right. I'm selling you that option. On the, on like let's just go out to say Jan 21. Okay, I mean, that's, that's quite a close strike date, but I mean, let's just say what are we trading 27 or five. So that's, well just taking half the money here. If we want to essentially buy one of these bad boys. Okay, so this call is incredible. Let's go at the money, well I'm actually not getting quotes on this right now so let's see. So I'm not getting any quotes actually go to March go to fabulous have a look at those options. No, here we go. They're so far out. Try 29. I'm not getting trades on this but essentially you're going to have to shout out two and a half. Well $2,800 per option so that's going to be about 28 grand to get one option. Yeah. So, you know that's surprising equal. That starts not being an option. That's not being an outright. But look, super interesting and I just wanted to jump on this with you I think this is one to watch I think you're going to see this a lot in the news tomorrow. I know how the behavior of these markets work it becomes self fulfilling. I think I really like the fact we had the okay exchange sell off and we rebounded and really strongly. I think it's interesting. If you haven't traded on Bitcoin before don't now just just jump in just watch it just watch how it moves for a while. And if you do believe that above 20, then we're going to move higher than you can use 20 as a nice stop right and do it in the kind of size where it doesn't really matter well whilst you're learning if you get stopped it's fine. One of the instruments that I would use in order to feel comfortable about buying something elevated is to essentially go out to the monthly bars all time right and use a Fibonacci extension tool. And this kind of shows me the general flow so what you do with the Fibonacci extension tool right is you take if you're if you're projecting a higher prices you take from the latest swing low to swing high and where the pullback occurs. And this gives you a framework of operation on the trade. Now essentially if I go down to like a year one year one day, you can see where your pullback came into play. This was actually the 113.8% extension. Okay, so where were you when this happened I know we needed this information. Well, you could have picked up the phone could have picked up the phone. That's that's got it spot on really really nice and look and look at the reaction after testing that honestly. So you see this payout in lots of markets and so the good news is if you're want to get long this contract, the upper extension targets pretty much always come true so we're looking at if I was long this contract now I'd be projecting 6.76, 32, 471, an ultimate upside on this extension is 493.8. Well then then it really will be in the news and with my tiny contract on I'll even I'll be celebrating after that. Good to catch up with you Tim I just wanted to give everyone a quick update what was going on in Bitcoin it's been a really interesting pattern over the last few weeks. I longer term now I'm liking the way it's for my think it's it's one to watch. Keep it on your screens. If you really want to study behavior this is a really good behavioral asset to really focus on momentum moves. I'm not going to trade it super small super careful and use it as a learning process if it works out great. But the one type of person I know who suffered over the last couple of years of those Bitcoin believers that can't let it go if it doesn't work out doesn't matter, take it off. Yeah. Thanks Tim.