 Hey folks, welcome to another Monday in these markets. We are Monday the 24th of May 2021. We have had a hell of a ride since last Wednesday and indeed this weekend also on the crypto DeFi space really started with Elon Musk hammering the market really last or the weekend before last with comments then again through the week around Wednesday Tesla then not accepting Bitcoin for buying Tesla cars anymore and then coming into Friday we've had the Chinese authorities come out and say that they are going to clamp down hard on Bitcoin mining. They have reservations about the energy usage that these farmers, miners have on the general system. So I know a lot of people kind of confused as to what caused the downside volatility over the weekend and now really three o'clock yesterday GMT time the offers really started coming in across all these markets. You can pick the rhetoric that you want as to why we're selling off. For me it really is this Chinese authorities statement and they didn't outright say they were going to do anything towards banning that wasn't the word that they actually used. So they just said they were going to clamp down on the space. You know I think we have been here before with this type of rhetoric from the Chinese governments and from Beijing. So you know without further ado let's you know these charts are very technical. We are scant on fundamentals most of the time with these markets. So without further ado let's go and have a look at these charts. So you can see here really let's go to Bitcoin first where it all starts from you know a lot of a scare coming in here and this was this Wednesday 12th of May. This was you know Elon coming in and really hammering the markets down and then really coming into the middle of last week you know Wednesday here well Tuesday night really we'd hammered down on this candle putting in these lows here of well pressing below the support area which was essentially a high put in on the 26th of December last year day after Christmas. And so we crushed down below there triggering some stops before them finishing that session and closing that session out. You know quite well on the bounce the following day we did have a little bit more of a bounce however you know I was kind of poking at some of the people who were buying that maybe bounce last night because you know we had it had continued to dip the nightmare for all dip buyers right. So you know by the by anyway we've had a pretty drastic selling day yesterday pressing down again on the 31 427s area here and you know for me I think you know that this market isn't really out of the woods here. Yes it does look like it's the the sell side pressure has abated for now and we probably are going to tip on back to 46069s up here but I really I'm not sure what we're what we're going to get when we come back to the 46069s. I'm pretty sure it is going to make an attempt to come back into this range that I've identified here that range how I put in the 7th of Jan this year and the range sort of sorry the range low started really to accept if you like as a market area on the 27th of February here and then we sort of struggled at the tops all the way through March essentially well early March and then trying to get above but just couldn't hold it and so the top of that range really then proven containment for this price action to crush a stand to where we are now you can see even on this arrow here you know you can see the market did identify with the range did see that there was a nice area to buy there except you know liquidation continued capitulation still continues in this market you know I'm not seeing a huge wave of buying coming in on this 31 427s on the low so you know I want to keep a lot of dry powder on the sidelines right now yeah I've taken some more Ethereum as of this morning taken some more ripple as of very early this morning so let's get over and have a look at those markets but for me Bitcoin I'm not going to be surprised if we see the 20k marker again at all and what I said on Twitter is once we get then the 20k the world and his mother know that there are a ton of stops to trigger below 20k because probably not a lot of people want to take a soap 20k right on this product if they're if they're really buying anywhere above 30s you know I think that's a hell of a bad risk war picture there but by and large I think most of the people holding this are our holders you know the diamond hands all of this sort of stuff so I think things could get wild if we put in a day closing below the 31 427s and that's really you know all I want to say about this so I am going to put on a little buy zone area down here for if and when we do get there so that's Bitcoin you know there is a school of thought that I would that I would subscribe to that would say this is the kind of leader coin Ethereum is number two that's just a given but the school of thought I have is that you know Bitcoin is fundamentally driving the boss here across this whole space and so you know we have a lot of derivatives and a lot of the yield farming is indeed based upon Bitcoin and Ethereum constructs if you like the you know staking Ethereum staking Bitcoin so therefore and you know if these coins do come off and it is going to cause a much wider spread disruption across the sort of the tokenomics if you like at play in the yield farming space and in the staking space and so therefore you know should we get that pressure down on Bitcoin we are going to see much lower prices across across the whole picture here now to talk about the number two coin that we all know about Ethereum these are all daily bars by the way you know we're not going to get caught up in the intro day and this stuff really because the obvious moves are happening here so yeah I like this high on Ethereum to the dollar putting around 2000 2000 level it has been supported on the way up and the you know the market is not accepting a close below this area so far come very close last night closing at about 2103s and you know we're now a bit up all for this area do I do I do I believe in this this is the bottom for Ethereum I don't think I have to I think I just need to know what value is you know and if I see the value being held I can continue to trade that and I see the value here is you know I'm in this thing personally and I think a lot of people are and for you know a much bigger trade than a scalper position and we're in this for a big swing and a fundamental trade more than anything else so fundamentally I believe in 2000 Ethereum absolutely is value and so crushing closing below here yeah we could be buyer at 1357 which is this next area down here I like that I think it's that's a good price I don't really see if we are to get below their decent support or resistance so if I change to a logarithmic chart and just put this on automatic we're going to be able to see a little bit of that here and so we're looking at yeah some of these prices you know but you're talking silly prices by comparison where we are now like about the 428 sorry 495s and we've also got a market here at the 366s now these are I'm not saying that we're going to trade these prices but it's always good to know if you've traded oil from you know plus $40 to negative $40 it does always pay dividends to have these levels marked up and really never say that anything is impossible in a market so you know I do like the logarithmic because we can we can get to see the activity down here at these smaller prices so for me I think the support ultimate support here is 1357s I don't know if we're going to trade that I have bought more Ethereum in this session so far and yeah you know I'm holding in there guys and girls so technically I wouldn't be scared on any action from sort of the 2000 down to the 1357s but I'm certainly not going to be aggressively just buying in buying in buying into the freefall and should we get that and you know and if we take an excursion below the 1357s I'm just going to sit on it really and and and and and weather the storm you know I think there's a longer trade as I was saying so that's Ethereum for you and just let me I think I have to turn this one back do I know there we go that'll be fine so that's Ethereum on the logarithmic what else should we go to Ripple you know Ripple is kind of interesting in that it has an ongoing sec investigation or be it that investigation rhetoric the tone from that investigation has been softening towards Ripple one thing to be really aware of here folks is that one of the founders of Ripple liquidated about 265 million coins over the weekend right so that may have led to a certain amount of denser pressure in the overall picture but you know I'm pretty bullish on on Ripple for you know the two-spot three four marker at the top here this is Ripple to the euro so you just you know that currency adjusts for the two-spot three four euro center yeah I think the structure of this market is still holding I think we have a consolidation zone that we were in down here by ways like this I think we had the breakout and I think we look at that you know to the tip we've pulled back and traded that and now we're going big and I think fine this is good I like it bullish you know I think this this pullback we've had just on any of these coins actually is incredibly bullish never knew all-time highs to come this summer now I know you know under traditional technical analysis that may not be something that you would be so so aggressively getting on with that trade but you know having traded these things now for about six months you know there is a rhythm and there is a sort of a pattern to the buying the selling the sell-offs then the rebuy off the bottom so you know you kind of got to be monitoring these things but sure if I switch this to a logarithmic it might actually show you a better picture as well same with a lot of these a lot of these coins so I just switch on automatic again and then funny there that it's actually curving this this what was a straight line that's pretty I've never seen that in a charting system before and so let's just get this play ball a little bit logarithmic charts are not all together the easiest things in the world and actually I think I'm limited by the amount of data I can get off Binance here yeah I am so all right we're just going to put that back to your standard linear chart anyway from now and do a bit of this cool so that's ripple very bullish on ripple link yeah link is really you know by this bear flag that it fell out of bed down to test the range did take an initial day buying over that range here on this day I did have a buy on that from my own buying again this is not investment advice this is purely entertainment and educational purposes that we're doing this so yeah I did have a buy there I actually didn't buy it because I just saw this this selling was so heavy we're now back into you know holding on the bottom of this range which is about 17 bucks sorry 17 euro bucks per link and I'd be interested to see now if we can hold this range and and get bid on back up but albeit you know I don't want to be just trading the range I want to be trading the breakout on on the top of the range and so maybe you know some headwinds are really picking up for for rip or sorry link chain link coin at this time albeit it is a high-grade what I would term a high-grade and defy system and network and coin so you know it is quite expensive at 18 bucks but you know the value is the value for me on this coin I actually did mean to add magic to here and probably do that super quick if you give me a little second I could get my matic up here I'll just add this and then I'll just copy charge and then we'll just do a quick little bit of CR chart magic if you hold with me here and then we're going to matic because the the technicals on matic were actually very clear and clean as of last night actually sorry it's this morning at about 4am so let's just see if we can get the matic up here we can matic we'll just do matic to the euro for now okay okay let's just copy the symbol anyway do you pick this chart too chart and then we'll have and a deity 60 minute we'll call this one and we'll just hide that one so we can look at the deity bar here on matic I'll just get some text on here cool so this is matic on the let me get the one day bars yeah it's quite scant in terms of how much data I'm allowed to pull down from Binance if I can load a whole lot more no I can't however this sort of range was what I was looking at here on matic into this buying you could even say the consolidation range was sort of here given that these candles couldn't close into that range and so this is why I'm kind of bullish on matic to the euro let me just widen this out a bit so I have been looking into matic over the weekend I know I'm probably slow to look into it like a person to the rest of the market however this is a pretty high-grade DeFi coin and network system a few friends in the states and indeed one of the traders on the elite team is an avid matic trader and you know I do like this coin cheap at the price one dollar one euro 15 cent at market you can see how how beautiful a breakout pullback it is here on this former range that we really started putting in 28th of April this year to the breakout and then the pullback that we had the 14th of May so you know I really like the structure of this market I really like the potential here for a new all-time high you know looking at looking at the chart calculator just get my chart calculator probably looking at from the pullback on the high basically open up today up to probably the all-time high is going to be that's a 60.47 percent move to back up to the highs here and I think it's going to do it so that's a pretty good risk reward here and yeah we like it I like it so uh doge I mean talking about doge yeah it's funny because I do I do see a shift across the part across media uh crypto and investing media towards doge being the people's coin everyone wants doge no one's thinking about supply and but you know with the massive overhang of of limitless supply essentially on this thing it's really hard to then fundamentally say well why should this be why should should this trade much higher prices I just I just don't know right so yeah I had a buy point here on doge that I was interested in and I think there's a little bit more downside pressure I'd rather be buying the bottom of the range and then really see that thing get on up from there and you know stop that below so you know I'm holding from like well five cents on this thing so you know it's it's been a rough ride to see this pullback but I mean this is a complete flyer lottery ticket for me um you know I'm not trying to get too clever with my uh doge or yeah doge trades um stellar again you can see a lot of these coins now picking it up from the bottom of the range and so we have to then stick with what we normally would see is that we'll we simply just trade to the top of that range and and then we make further decisions but the trade right now is buying the bottom of the range selling out at the top so middle of the range here on stellar to the euro is spot 38 cent right here and you can see that's quite clearly traded as a line in the sand before going up and then you know on the way back down pretty much to the tick we had that really bad day there the 18th of May and then the following day where it tried to get there on up like pretty much to the tick on the 38 euro cent to the stellar limit so very technical stuff very very technical markets boys and girls so I do like stellar I it's a stellar is actually my largest weighted holding uh for uh all um all uh you know hands uh to be clear about that uh so what else yeah it's no surprise that given in the soft bitcoin environment that if you are trading hbar uh denominated in bitcoin well you can see this this is actually having a great time holding on the breakout of the range here and you know should we get further downside in bitcoin hbar is going to be loving that and given the way that it's configured on a lot of the platforms to really be denominated in bitcoin or USDT or any of these stable coins so I do see a lot further upside for hbar this coming week and yeah I think you know it's going to be a week where you're going to get paid out for holding and I'm not going to fluff that scared out of your trades so you know that's going to a wrap from me for the crypto for this week and if anyone else has anything they would like me to cover for next week or during midweek you know feel free to reach out to me in the discord and that we have um the amplify live discords I know a lot of the guys here are with me live right now in the discord or you can reach out to me at t.dogan at amplifytrading.com so or you can get me on twitter at timdog t-i-m-d-u-g and yeah I'd be more than happy to have a chat so listen guys for me it's a week of holding buying more keeping the powder dry maybe deploying a little bit of it now maybe maybe a lot of it that's entirely up to you and I'm certainly not a financial advisor but um yeah it's going to be an interesting week to see what crypto does from from the selling it's had so far so have a good week and I look forward to seeing some of you in the discord chat room and yeah be good cheers