CRYPTO WARNING: Don’t Be Fooled, It’s Not Over Yet…

Summary of Video Transcript

Introduction

The host discusses two important charts that may indicate where crypto prices are headed. They mention the crypto market may have needed a reset, which could be happening now.

Market Analysis

• The host notes that despite the hourly charts looking green, the market is still recovering from a strong drawdown.
• They discuss the fear and greed index, which has reset to 50, and the yearly open chart, which they believe is crucial for the next market move.
• The host mentions that if the market breaks below the stop and reversal indicator, it could lead to a continuation of the downtrend.

Crypto Market Outlook

• They believe the bull market is still intact, with a 1-3% chance of it being over.
• The host discusses the importance of the $85,000 level, which they think could be a turning point for the market.
• They mention that if the market reclaimes the yearly open, it could lead to a long trade opportunity.

Altcoins Analysis

• The host analyzes various altcoins, including Salana, Phantom, and Suey, discussing their current price action and potential future moves.
• They note that some altcoins have been hit hard, but could be due for a bounce.

Trading Strategy

• The host advises caution and recommends waiting for the market to reclaim the yearly open before entering long trades.
• They discuss the importance of managing risk and protecting capital.

Market Indicators

• The host mentions the funding rate, which they believe is a more objective measure of market sentiment than the fear and greed index.
• They discuss the aggregate funding rates average, which has come down aggressively, but not yet reached negative funding.

Conclusion

• The host summarizes their analysis, noting that the market is still in a risky territory, but the bull market is likely still intact.
• They advise traders to be cautious and wait for the right entry points, and to manage their risk accordingly.