Crypto Market Appears Flat Today

Indexed: 2026-05-21

[00:00:00]Good morning everyone. Let's have a quick look at the charts. Again, only needs to be quick. And based on the four hourly, we've reclaimed a few moving averages overnight. It's nothing special throughout yesterday. And if we can hold above this area, 77,000, fine. Cool.

[00:00:15]We'd have every chance to move up further. But at the moment, we've got an incoming death cross. This is the one we've been waiting for. So, we've got a four hourly death cross around 78,400.

[00:00:23]That needs to be taken out. Otherwise, it's going to prove to be a big resistance. I mean, it already is a resistance, and we haven't yet tagged it.

[00:00:30]But looking at the bright side, um the measured move that we had from the mouth of this symmetrical or ascending triangle, whichever one you want to you want to call it, um basically hit. And that was also targeted up at the 50 exponential moving average on on the daily.

[00:00:48]So, again, yeah, the daily's got support. It's also got resistance. 1 2 3 4 5 6 7 8. Really, tons of them. There's loads of them on the way up. At the moment, we're still responding to the support, which is reassuring. It's reassuring, but it's just again, it's nothing special in either direction. It could go up, could go down. Um so, I'm not I'm not really looking to call for any major direction. But if I if I had to say, I'd say it's more likely to continue to go up, basically. That's that's the most likely scenario. But there's not really any positions to be to be taken, not really. I've said this on the Patreon last night, you know. And even over the last week or so, the only positions I've been taking futures-wise are crypto stocks like MicroStrategy and CleanSpark, which I closed the CleanSpark one yesterday.

[00:01:42]And I'll probably be looking to go back into MicroStrategy if anything else, but not from this level, from a little lower.

[00:01:48]So, you know, thinking about Bitcoin on the weekly, we've still got the obvious signals that suggested that the that the low is in. There is obviously that chance. Bull div on the way down, basing around this box, bouncing out of the box, classic sort of bull market beginnings, really.

[00:02:08]Similar to the previous consolidations or bear market ends, where we get given this target that this this we get given this signal that says, "Go on.

[00:02:17]Go on.

[00:02:18]Should be okay. Should be okay for the long term."

[00:02:22]And that's what that setup really was about, you know, buy and hold for the long term. And so far, it's done all right. Altcoins haven't necessarily followed. We have had some decent moves on some of them. And again, it's all about the crypto stocks, really, for me.

[00:02:35]They've done really, really well. And and they've probably got a lot further to run over time. And but just, you know, on a day-to-day, minute-to-minute at this stage now, we could come down, we could go up. I'm I'm not really, you know, I'm not really sold on on any direction, like I said.

[00:02:52]And I think the best thing for me to do is just to wait. Because, again, you know, I've got enough bitcoins, I'm not buying any more of them. I've got all the altcoins that I want. I don't really need to feel the compelled to buy any, certainly not at this level. It'll have to come down a lot lower.

[00:03:06]It'll have to see a drop of 25% or more for me to be interested in buying more from a from a lower area.

[00:03:13]Like I said, you know, I'm not highlighting this as something anyone should do, but there you know, this is the chart that I'm be looking to buy back next. Remember, I bought here, sold around Remember, around about here. And now, if I'm going to be buying it, I'd like to see it come back down to 153.

[00:03:31]And then I'd be I'd be okay with that.

[00:03:34]But we're not at 153 yet. We're slightly above. And I I don't feel compelled to to buy into it now.

[00:03:40]And yeah, I've I've still got all the stock that I bought at 107.

[00:03:44]I'll be holding that for a a prolonged period of time. But when it comes to trading, you know, I don't know if we you know, the trade has been exited on MicroStrategy and then the next trade at at its at its highest is going to be bought around 153. So, again, like you know, you don't always have to be in a trade, you know? I was in this futures position from here all the way up to here. It's a long time to hold futures and it did really well.

[00:04:13]Um exited the CleanSpark trade yesterday.

[00:04:16]Maybe I'm just going to just chill out and have have maybe a day off. Unless, of course, I do find that we come down to this target and and then I'll give it a go with a tight stop loss and this is what I need to put point out to everybody.

[00:04:27]You might hear me say, "Yes, I like this chart, you know, CleanSpark looks good and you know, blah blah blah." You might hear me say, "Yeah, MicroStrategy I'm interested in buying back here rah rah rah." But, you know, that's me doing it.

[00:04:39]There's also a There's also a like a hidden component to this that that most people won't imply. If they see me say and talk about me you know, I talk about wanting to buy something, a long something. I always put in risk management. I always have stop losses and I get stopped out all the time.

[00:05:00]I know a lot of people don't. So, when I highlight something as a trade or a setup that looks good, it doesn't mean it's going to play out.

[00:05:08]You will have to put a stop loss in and get stopped out on that, especially on these crypto stocks which are highly volatile just like any altcoin, really.

[00:05:16]And if you don't, then you get wrecked and it's it's not my fault, okay? So, I'm not telling anybody to trade anything at any point. I'm telling you what I'm interested in doing and where I'll be doing it from. But, I won't be holding it if it keeps going down. No, I'll be stopped out and I'll wait for lower and I'll try again. I won't wreck myself in a trade that hasn't responded to a support I highlighted as an interesting opportunity.

[00:05:45]>> [snorts] >> That's basically it. There's no need to to to milk this. I'm sure you've all got things to do. I'll leave it with you there. So, today it could go up, it could go down. Not massively bowled over in either direction.

[00:06:00]I've got a set up which I'm happy to try if it comes down to that level.

[00:06:05]Other than that though, I'm just going to have a day off, I think. Just going to have a have a nice chilled out relaxing day off. Right, thanks for watching. Take it easy.