All language subtitles for mm.srt

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There are two kinds

of people in the world, those that believe

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in technical analysis

and have over 50 lines on their charts

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and those that think technical analysis

is complete bogus.

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In this video, you're going to find out

which one you are.

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Welcome the whiteboard crypto, the number

one YouTube channel for crypto education.

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And here we explain topics

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of the cryptocurrency world

using analogies, stories and examples

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so that even your grandpa

can understand them.

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In this video,

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we are going to be explaining

what technical analysis

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is, how it can be useful,

and even some common patterns

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that you'll be able to identify yourself

by the end of this video.

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Also, about two months ago,

I stumbled upon a fantastic crypto creator

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who wasn't reaching many eyeballs,

even though his technical analysis

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content was the best that I'd ever seen.

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So I reached out to him,

and he's going to help with this video.

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If you're impressed by the end of it,

I'd really appreciate it.

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If you head over to his channel

and watch a video or two

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to see if you agree about his quality.

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Let's dig in.

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Technical analysis is one of the things

that is overused by people

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who know what it is and undervalued

by those who have never used it.

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When it comes to investing,

not just in cryptocurrency,

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the main steps to make a profit is to buy

something at the cheapest price possible,

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and then they sell it

at the most expensive price.

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Now, that's much easier said than done.

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Technical analysis is a great tool

to help make that possible.

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It's worth noting that technical analysis

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is not a holy grail

and will not make you wealthy overnight.

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It's not designed to do that.

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In fact, some traders

will even only make trades once a month,

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but it will give you a small edge

in the markets.

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Even a one person edge in

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something can be much greater

or more useful than you think.

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For example, casinos make millions of

dollars every single day around the world

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because they have a simple edge over

the people that are playing against.

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Sometimes that edge is less than 1%,

but over a long enough time

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period with a large enough volume,

that is all you need.

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In fact, Gold Medal athletes in the

Olympics win by less than 1% all the time.

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Now, before we get off topic

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and go down the rabbit hole,

I want to help you understand

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some of the most important concepts

when it comes to technical analysis

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and how you can use it to give you an edge

when it comes to investing

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in cryptocurrency.

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The first topic I want to cover

is something that doesn't

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even have to do with charts

or covering technical analysis.

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Instead, this concept is

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probably the most important one

to remember when you're investing.

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The most important question to ask

yourself is who controls the markets?

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Now, your first thought may be

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whales or institutions,

or maybe even big market movers.

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And while those are all great guesses,

the real answer

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is that the markets depend on

you and I and the millions

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of other people who are participating

in the market on a daily basis.

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All of these people control the markets.

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So what I'm trying to get at is

that people by nature are unpredictable.

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So therefore,

the markets are unpredictable.

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Some guy has a car accident

and he gets sued.

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And because of that lawsuit,

he has to liquidate all of his Etherium.

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Maybe there are some women out there

who just realize she's pregnant,

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and so she sells half of her chain link

so she can have some cushion money.

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Or maybe there's an XRP

whale that woke up one morning

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and they start dollar cost

averaging out of their XRP bags

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because they had a dream

that the whole thing was a scam.

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Now these things might sound funny,

but these things happen

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every day, every week, every year.

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You cannot predict the lawsuit,

the pregnancy or the dream,

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but they lead to tons of money

being moved in and out of the markets.

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There's a common misconception

about technical analysis, and many believe

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that if you can just find the right tool

or the right trading plan,

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then you can predict the future

and make millions.

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But the truth is, nobody knows the future.

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Your only goal with technical analysis

is to find a plan that works for you,

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define your personal edge in the market

and never let your emotions

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get the best of you.

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Technical

analysis is simply a tool to help you.

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Now that we've gotten the theory work

out of the way,

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let's actually dig in

to reading a candlestick.

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Now, candlesticks are a way to look at

price action within a specific timeframe.

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A candle is very confusing if you have no

idea what you're looking at,

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but I'm about to teach you everything

you need to know about a candlestick.

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Candlesticks turn for points of data

into a single image.

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first, you have the price

that the candle started at.

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Now this is actually depending on

whether the candle is green or red.

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These points will be different.

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For example, on a green candlestick,

the opening price

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is the bottom of the base

or the body of the candle .

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The other end of the body

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is where it actually closed,

on the other hand, for a red candlestick.

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The opposite is true.

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The opening is the top of the body

and the closing is the bottom of the body.

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So the color tells you

which one of these is the opening

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and which one is the closing.

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But the two points of the body

tell you where

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the crypto opened and closed

within that specific time frame.

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Now, this time frame could be one minute.

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It could be ten minutes an hour

or even a whole month.

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They're technically fractal in nature,

but we'll talk about that later on.

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So now that we've gotten the big body

parts of the candlestick out of the way,

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let's move on to the thin parts

of the candle and these are called wicks.

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Now these are evidence of where

the price went, but then recovered.

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So let's take a look at a green card.

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Candlestick, this candlestick

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tells us that the crypto opened here,

went all the way down here at one point

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and then came back up to here

at some point

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and then ended at this part of the body.

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That's how you read a candle. It's

that easy.

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I will say you may need to watch that

a couple of times, but all candles work

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this way, and once you know how

to read them, it all starts to make sense.

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Now, some candles

give you insight into the market.

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For example, a candlestick that looks like

this means the price went way up.

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Then came back way down.

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And that usually means that the buyers

were exhausted or in other terms.

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There were more sellers than buyers,

and that the price of whatever this asset

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is might drop in the future.

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Alternatively, a candle like

this is where the price went way down

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and then came up,

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and that usually means

the sellers were exhausted

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and that the price may go

up in the future.

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These are not always true,

but they give us good ideas

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about what's happening in the market.

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Now, moving on the rest of this video

includes topics

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that will be a little difficult

to explain with a whiteboard,

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so I'm going to go ahead and let Christian

give a whack of breaking them down.

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So right here

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I have a diagram basically breaking down

the three phases of the market.

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first, we have an uptrend,

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a downtrend and consolidation,

which is sideways movement.

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An easy way to think of it is

that an uptrend

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is a series of higher highs,

which are these and higher lows.

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And as you follow the arrows,

it looks like the market is going higher

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and we know the market can't go only up.

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There needs to be retracement in

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a downtrend is the same thing,

but in the opposite direction.

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So you have a series of lower lows and

lower highs, lower lows and lower highs.

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And that is what determines

a downturn in its simplest form.

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And a consolidation is

when price gets stuck in between

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two price points

and just continues to consolidate.

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Now to show you this

in a real data structure or real

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technical analysis chart,

we have bitcoin on the four hour chart,

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starting all the way

from the beginning of January

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ending to around July 20th.

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So you could do this on any timeframe

because everything is fractal,

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which we'll talk about later.

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So actually, try this out for you

to make it even more simple.

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So we have the market coming up,

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coming down a series of higher highs

and higher lows.

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And this is an uptrend

until we start to make lower

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lows and lower highs in the market

and then finally right in this area.

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The market consolidates in between the

price points at 36,000 and around 29,000.

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And the market just starts to go sideways.

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And then as we go on even

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farther to the right

side, we could see that the market starts

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to give us another uptrend

until it starts to give us a downturn.

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So the market goes through these

three phases over and over and over again.

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And as you scale down to lower timeframes,

they start to happen more frequently.

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And if you get to higher timeframes,

it is a lot slower.

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But the price movements are a lot larger.

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So I'm hoping that this really exemplifies

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how simple market structure can be

and how easy trading can be.

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Sometimes because really,

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there are only three directions

the market goes up, down and sideways.

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Now that we have a common understanding

about what candlesticks are

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and when you put them all together,

they kind of tell us a story of

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what's happening within the certain asset

that you're looking at.

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So for example,

we're looking at bitcoin, U.S.

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dollar and on here

we are currently on the weekly.

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So each one of these candlesticks

represents one week's

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worth of price action, telling us

where price has been over that week.

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Now, trends or trend lines

help us understand

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where we are in the market

and where we might be trending

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to whether that's a higher price

or lower price.

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Now there's a couple of really

important things to know with trend lines.

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And while they're very helpful

and they're very simple,

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there's a couple of key things

you need to understand about them.

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The first thing is

that they're very subjective.

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When I see a trend, you may not,

and when you see a trend,

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it may not be very obvious or evident

to other people.

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So trend lines are very subjective,

just like many other things

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when it comes to technical analysis, so

always keep that in the back of your head.

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The second thing

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that we need to understand is that a trend

line needs to have two touches.

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For example,

I have this trend line on the weekly

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that you could see

the first touch is back around here.

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The second touch connects to right here.

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And the third one is typically

where people are anticipating price

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to get to now, not to put too much weight

or time into trend lines.

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The last thing I want to go over

is that there's three main

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trend lines that I like to look into.

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The first one is the macro trend.

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When I'm talking about macro,

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I'm talking about where price is going on

a very long time scale.

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So for example, when we're looking

at the weekly, the monthly or the daily,

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as you could see the timeframe of this

starting from back here.

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This is a lot of price action.

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This is currently around 658 days

worth of data that we're looking in.

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So you can almost consider this

as the macro trend, right?

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What is the large scale of the market?

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But if we come down to shorter timeframes

like the four hour, one hour or anything

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below that,

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that's when we're looking at minor trends

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and this is actually something

that's happening right now.

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So we're starting this

trend all the way back from November 10th,

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and it's actually going to price action

to where we are on December 30th.

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So as you could see, we are currently

in a minor downtrend on bitcoin.

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But if we were to take a look

back at the weekly, you can tell

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that we are somewhat

in a pretty bullish state.

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So these are always good to consider

what timeframe you're on

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and what trend you're

in on that timeframe.

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Now, the last thing I want to get into

is a counter trend,

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and this might be kind of confusing,

but I'm going to make it very simple.

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Now what we're talking about a counter

trend.

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The first thing we have to identify is

what is our main trend?

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So we're looking at bitcoin right here.

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We're looking at price action

from the end of January,

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going all the way

to around the middle of April.

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Now you could pretty easily

tell that bitcoin was in an uptrend

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just by looking at price

and plotting this trend line right here.

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But a counter trend is the opposite trend

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against the bigger overall picture.

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So currently we're in an uptrend,

and the counter trend would be any time

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price is going down

against the main trend.

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And as you could see,

this only happens for a little bit

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and then we break out and continue

with the main trend.

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We go down for a little bit and breakout

with the main trend go down and breakout.

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Now an indication that this might be over

or that our main trend is getting broken

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is when it breaks below our main trend

line, as you could see by this white line.

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And that is indicating that

now we might be switching

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our trend line to the opposite direction.

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Now that you know what market structure is

and in what directions the market moves

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and in what phases,

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it is also important to understand

that the markets are fractal.

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A fractal is simply a never ending

pattern.

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It's a mathematical phenomenon,

and it's basically

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just a self

similar pattern across different skills.

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So let's hop into the charts

and I'll show you exactly what I mean.

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So as you can see right here,

we have a pattern of a large triangle

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that is made up of smaller triangles.

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And the deeper we look

into the actual triangles,

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as you could see right here,

it seems like it's a never ending pattern

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of bigger and smaller triangles,

and it just continues to zoom in.

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And then and you can actually

look this up on Google

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and get a better understanding of it.

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But basically, I have two Ethereum

USD charts pulled up for you.

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The first one is the four hour chart,

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and it dates from September 16th

to around October sixth.

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The next chart is the 15 minute chart,

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and this one dates from December 12th

to around December 16th.

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And you could verify that by the scale

down here and the numbers up here.

00:12:52:00 - 00:12:54:10

So the first one we have

is the four hour chart.

00:12:54:19 - 00:12:56:26

The first thing that happens

is that the market drops

00:12:57:07 - 00:13:01:02

and then we have three

touches on a floor or a support.

00:13:01:12 - 00:13:05:13

And then we have a big bullish

move off of that level.

00:13:05:25 - 00:13:08:20

If we jump over to the 15 minute

timeframe, completely

00:13:08:20 - 00:13:12:01

different time, completely different

scale of candlesticks.

00:13:12:08 - 00:13:13:28

We have a move down.

00:13:13:28 - 00:13:17:01

We have three touches into this support

or this floor

00:13:17:09 - 00:13:20:06

and then we have a large reaction

to the upside.

00:13:20:19 - 00:13:23:25

Now you can see that they're not perfect,

but the whole point of this

00:13:23:25 - 00:13:27:15

is that you can go even down

to the one minute or the weekly chart

00:13:27:21 - 00:13:32:00

and you can compare these together

and the market moves in similar ways.

00:13:32:12 - 00:13:38:03

And we all know that the market is not

predictable, but it is not random either.

00:13:38:12 - 00:13:42:02

So now that you know what fractals are

and that they're in the market, it's

00:13:42:02 - 00:13:44:20

your turn to go up on the chart

and go find a couple.

00:13:45:08 - 00:13:47:28

So if you made it this far, I just want to

thank you for bearing with me

00:13:47:28 - 00:13:51:03

and my examples, and thank you

for not thinking that I'm too boring.

00:13:51:04 - 00:13:54:02

Maybe you have, but you've made it

this far, so congratulations.

00:13:54:10 - 00:13:57:18

But the last thing I want to share with

you are reversal zones and patterns.

00:13:57:26 - 00:14:00:09

There's a saying that goes In order

to understand the future,

00:14:00:15 - 00:14:02:12

we need to look at the past first.

00:14:02:12 - 00:14:05:27

The markets may be unpredictable,

but they are not random.

00:14:06:06 - 00:14:07:04

And with this knowledge,

00:14:07:04 - 00:14:11:07

we can use it to our advantage

to understand what price might do next.

00:14:11:20 - 00:14:16:00

So right here I have the entire 2021

bitcoin chart almost summarized

00:14:16:00 - 00:14:19:15

for a lot of its massive uprisings

and downfalls.

00:14:19:24 - 00:14:21:14

But as you can see back here in February,

00:14:21:14 - 00:14:25:00

this massive uprising came

from a lot of institutional support.

00:14:25:08 - 00:14:28:15

Companies like Tesla, MicroStrategy

and MasterCard

00:14:28:15 - 00:14:31:21

were all publicly supporting bitcoin,

which made it rise.

00:14:32:00 - 00:14:33:21

Then we had the summer FUD

00:14:33:21 - 00:14:36:22

dating all the way back in May,

even starting back in April.

00:14:37:04 - 00:14:40:02

And then at the bottom of it,

Grayscale announced

00:14:40:02 - 00:14:44:02

that they bought $1.5 billion of bitcoin,

which made it rise.

00:14:44:09 - 00:14:45:20

And then China again

00:14:45:20 - 00:14:49:19

banned cryptocurrency once again

around the middle end of September,

00:14:49:19 - 00:14:53:12

which made it drop, and then Bitcoin ETF

hype pumped it up again.

00:14:53:18 - 00:14:56:06

And then right here, our most recent rally

00:14:56:13 - 00:14:59:13

was our Santa Claus rally,

which takes in effect the last.

00:14:59:15 - 00:15:03:13

Week of December

now, while all of these events are unique,

00:15:03:22 - 00:15:07:00

these are massive

price points or movements in the markets,

00:15:07:00 - 00:15:10:18

as you could see, the market comes up

and comes down violently.

00:15:10:26 - 00:15:13:12

Usually the market

kind of flows up and down.

00:15:13:12 - 00:15:14:26

It has an ebb and flow to it.

00:15:14:26 - 00:15:17:26

But when these massive fundamental

or news events

00:15:17:26 - 00:15:21:10

hit the public, we could see

massive changes in the market.

00:15:21:16 - 00:15:24:03

And what we can actually do is

we can map this out

00:15:24:14 - 00:15:27:28

all the way across,

and we can use these as levels

00:15:27:28 - 00:15:32:00

of future price reversal zones

and you could see if we map these out.

00:15:32:01 - 00:15:34:27

It's no coincidence

that over and over and over again,

00:15:35:07 - 00:15:39:09

when we see support or resistance

right here, we can see over here as well.

00:15:39:15 - 00:15:40:20

And over here,

00:15:40:20 - 00:15:44:09

even though that this is not a one time

event this summer, FUD,

00:15:44:16 - 00:15:47:27

you could see that

a lot of traders and investors

00:15:47:27 - 00:15:52:06

look at these levels because this is where

Price moved on a very large scale.

00:15:52:14 - 00:15:56:08

And if we continue to take out

all of these, you could see that it's

00:15:56:08 - 00:16:01:18

no coincidence that these levels continue

to react into the future.

00:16:01:25 - 00:16:06:16

So while something big might happen once

and it might not recreate itself

00:16:06:16 - 00:16:07:14

in the future,

00:16:07:14 - 00:16:12:00

those levels will be remembered by the

traders and investors in the future.

00:16:12:09 - 00:16:14:10

So these are important things to remember.

00:16:14:10 - 00:16:18:14

And even if no big event happened,

but we hit an all time high

00:16:18:20 - 00:16:23:04

or a local low, those are important things

to remember for the future because

00:16:23:04 - 00:16:27:19

it's an indication that something similar

might happen again in the charts.

00:16:27:27 - 00:16:30:12

So that's the last thing

I want to leave you with.

00:16:30:12 - 00:16:31:10

And just for fun.

00:16:31:10 - 00:16:31:28

Go ahead.

00:16:31:28 - 00:16:35:12

Go on to find some really important price

reversal zones.

00:16:35:20 - 00:16:39:09

Go ahead and see what happened in the past

and then what happened in

00:16:39:09 - 00:16:40:22

the future as well.

00:16:40:22 - 00:16:41:13

So I hope you guys

00:16:41:13 - 00:16:44:19

enjoyed everything in this video,

and I'll pass it back to Theodore.

00:16:45:20 - 00:16:46:09

All right.

00:16:46:09 - 00:16:47:14

If you enjoy this video

00:16:47:14 - 00:16:51:07

and lessons about technical analysis,

I have a big ask for you.

00:16:51:08 - 00:16:52:25

Could you head over to Christian's channel

00:16:52:25 - 00:16:55:10

and watch one of his videos

and let me know what you think of them?

00:16:55:12 - 00:16:58:13

He's been growing like crazy,

and to be honest, he is my favorite

00:16:58:13 - 00:17:02:12

technical analysis YouTuber who doesn't

put shocked faces on his thumbnail

00:17:02:15 - 00:17:05:16

or just sprout off random

price predictions without any evidence.

00:17:05:22 - 00:17:08:14

Either way, we both want to thank you

for watching this video.

00:17:08:18 - 00:17:12:07

I really hope that you learn something,

and most of all, I hope to see you over

00:17:12:07 - 00:17:13:04

at Christian's channel.