Nick, the host of “Cheeky Crypto,” welcomes viewers to the video and discusses the recent price action of Bitcoin. He focuses on the 1-hour chart and potential triangle patterns.
Uncertainty in Triangle Structure
Nick talks about the possibility of a different triangle structure and how it might lead to a ranging market for the next few days.
Price Rejection and Upcoming Correction
Nick mentions that Bitcoin is getting rejected at the equilibrium area and 50 SMA, and he expects a small correction before a potential long trade.
Trading Platform Recommendation
Nick encourages viewers to use Bitget as their trading platform and provides an affiliate link for registration.
He emphasizes the risks involved in cryptocurrency trading and advises viewers to invest only what they can afford to lose.
Multiple Exchange Accounts
Nick suggests registering on various cryptocurrency exchanges to prepare for different trading scenarios.
Possible Price Scenarios
Nick discusses the potential for a significant price correction, either as a healthy pullback or a bear market, and mentions CME gaps.
Volume Profile Analysis
Nick looks at the volume profiles and indicates that they suggest bear market territory.
Potential Golden Cross
Despite bearish signs, Nick mentions the possibility of a Golden Cross on Bitcoin’s weekly chart.
Nick predicts a potential pullback to $20,000 by the end of the year and suggests that the Fed’s actions may play a significant role.
Nick wraps up the video, encourages viewers to like, subscribe, and stay informed with their notifications, and hints at an upcoming update on Bitcoin.