Welcome to bitboy altcoins, the largest altcoins channel on all the interwebs, the only channel in the history of altcoinscurrency to reach 700 000 subscribers uh. Thank you so much to everyone for that. Of course, my name is ben every day on this channel.
I show you how to make wealth in altcoinscurrency. If you like wealth and altcoins make sure to go ahead and hit that subscribe button, we're out driving today on a uh on a rainy day, getting ready for uh some kids baseball games.
Hopefully we're, going to get those in for the rain happens and uh. You recognise i'm. I'm just thinking about bitcoin today and i'm thinking about what happened this last week and i'm thinking about when i used to make videos a long time ago and we're backwards hacks.
I i don't recognise if i'm gonna do that again. But the point is, i was really reflecting on this week and here's. The thing i think that with bitcoin. First of all, i'm gonna, be telling you my exact moves.
I'm trying to make right now, but i want to tell you guys something that i believe is a very important lesson. One of the most important lessons that we can learn from what happened this week, because you start to see things in altcoinscurrency and they're cyclical.
We talk about it all the time the futures contracts expired yesterday. Now a lot of us were really looking at now. Let's, go back a little bit. It wasn't just the futures contracts. It was the last ready of the month.
You get the monthly users contracts closed, but it was also the close of q1 quarter, one for this year, which is very important. Every month. At the end of the month we see drops, we've, seen it three months in a row.
You can actually go back to november, and in november we had a large drop as well and in december we did have a large drop right before christmas and then it bounced back, of course, very quickly by the end of the month.
But you could argue that for five months in a row that we've seen drops at the end of the month. Now it's, not it doesn't have to be on the 29th 30th 31st. It just has to do with the last friday of the month whenever that is so, what we were kind of anticipating is.
We were anticipating the price of bitcoin to rise, leading up to the expiration of those futures contracts which would have been yesterday at uh. I believe 4 30 central standard time or 5 30 central standard time, because uh, the main close is the cme.
It's, chicago mercantile exchange, so it's on central time. So that was a long way to say that. But the thing is is what actually happened when they expired, absolutely nothing. The price actually went up um.
I got a little freaked out on a trade i was in yesterday, um i was in the trade and i was doing really well um. I've, almost recovered all my losses from uh this week and uh altcoins face was going on live on air saying he was hunting for a short and i got nervous altcoins face.
You cost me a bunch of wealth uh, but so i said you recognise what i'm gonna go and close this trade. I was weighing the profit and so i closed it, and that was good. But the fact is, i shouldn't have because last night the price continued to climb and we've had a pullback this morning and that obviously is very good news.
If you don & # 39, t have a position and of course, if you want to get a position and trade on buy bit, you guys could do that bitboycritter.com deals, but make sure you recognise what you're doing uh or if you are A beginner make sure that you start small because guys the fact is - and a lot of you recognise this when you are leveraged training getting wrecked is a part of the process on learning how to do it.
I promise i've been wrecked, a whole lot uh, but we & # 39. Ve always came out on top at the end, but the point here is is right. Now i'm. Looking for a position, we had a pullback overnight. Um now we had a very important indicator on the uh daily time frame on the daily time frame.
We got a small green dot on the momentum wave on the day for yesterday. So when you look at the price right now - and you see that actually we got that green dot on the momentum wave and the price is down today.
That's. A good signal to you that it might be a good time to be looking for a position for a long, because, probably by the end of the day today, i expect the price to go up now. Make sure you're, make sure your heads, you got to stop loss so that way, if something crazy happens, you don't get hurt, but the fact is right.
Now i'm looking for a pretty high leveraged position, because i think we're, going to see some some fireworks, but let's. Go back to the lesson, because i really want to give you guys this lesson here.
We see the futures contracts close last ready of the month every single month and it seems like for five minutes in a row. We've, not got the memo that the fireworks of the drops are happening before they expire.
It's happening in the days leading up to it so kind of like when we were looking at a few months ago or the last several months. How we wanted to stop trading on sundays because we're a long time in a row.
Sundays were just very bad days: uh the price was getting, dumped, f2 pool was dumping. A lot of dumping was going on on those sundays and we decided we wanted to stay out of positions in the daytime and then it was actually a pretty successful strategy to wait for those gigantic dumps on the sundays because they were so consistent.
Well now we're, seeing the beginning of the month is where all the wealth is getting made and as we lead into april. You should be thinking about that. You should be thinking about when you recognise we hit a new all-time high at 70 or 80 k and it's.
The end of the month and people are talking really bullish. Traditionally, in the last several months, we've, seen large price drops due to that. So we can also look at june and we can say okay in june, no matter where bitcoin is.
We need to be thinking that a lot of these futures contracts from quarter one have gotten rolled into quarter two now, and so we will probably see some pretty strong downward action based upon those futures contracts expiring.
Now i am going to be doing a video this week, where we are going to be touching on that and talking about exactly why. That is why the institutions push the price down when it's, a hedge uh against their you recognise, most likely their own altcoins holdings, so something we will be looking at this week.
That will be pretty exciting because i think it's, something that you really have to understand the. Why and the how, in order to protect yourself the best well guys i'm, not going to push it today. That's.
Really. All i want to get on here and say is tell you. I'm hunting for a position somewhere in the 53s. I could be eyeing, but of course i'm using market cipher. I'm using our indicator to watch uh for exactly when the best position is going to be right.
Now we just had some kind of bearish action on the chart in the short term, so i'm. Looking for the price to drop a little bit, like i said, maybe down to the 53s and maybe scoop up a new position. So if that sounds good to you, you can make sure you can check out pivotal altcoins dot com buy bit to join the buyback contest, trading, competition or biblical.
com steals if you want to check out market cypher all right guys. That is all i got. Thank you. So much for watching today, you guys are the best community in altcoins, be blessed big boy out.