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welcome to coinbook my name is calvin waite and i'm a professional crypto trader i really like getting feedback from you guys about the market what you're trading successes failures so i'm gonna go ahead and start giving out a t-shirt every week now what i'll do is i'll look at all comments from thursday to thursday and then friday select a random winner well it was it was really nice to get away but man it's nice to be back i'm finally back at my desk back in the routine pretty pretty awesome so man what a weekend this has been the wildest three days ever for bitcoin so we are um we it was only three days ago i know people people really get ownership of of new prices and new price levels but it's only been three days that we've been above 30 000 and so with this this really big high and this is a fairly bearish candle you can see how the the wick is bigger than the body and there aren't very many others like that this was the only other one that we pointed out that was bearish but then it was invalidated as we kept going up so uh last night we had some wild wild swings in bitcoin in fact it from a dollar perspective this was the largest open to low uh drop in the history of bitcoin if you look at the open we opened at 33 068 and our low is 27 734 so this represents more than 5 000 dropping so it is getting i just you know we're getting we're getting higher and it's getting volatile but what a crazy candle this is because look at how long this wick is this is what really really surprised me but also the other thing to look at is what uh where did we find support this line is in play it is very very very much in play so we we dropped very fast and we got very very close to this line and found it as support and we are bouncing and so if i look at the five minute chart if i zoom out a bit you can kind of see the nature of this drop so two days ago we had our all-time high of almost 35 000 and then we we had sort of a consolidation and then we lost we lost this line right here and then dropped quickly bounced and absolutely plummeted and i think from what i heard on the news it was a finance um long liquidation event or something so huge huge liquidation this is why i'm not a real big fan of of um putting stop losses in i know that's something that that people preach and whatever but you don't want to put it you don't want to put a trade in unless you're willing to take the trade and it's just you know the guys that got stopped out down here they they probably didn't want to to make those trades but anyway that's another story for another day but anyway so we dropped really hard and what is so amazing to me is that we recovered four thousand dollars worth of ground up to up to here that is that is remarkable for it just kind of shows you what kind of buyers are in this market it's it is it is risky to be short bitcoin right now so anyway we're buying we're buying up and now we're kind of dropping again so we'll kind of figure out you know i guess the end of the day will tell us but if we end this day where the body of the candle is smaller than the wick underneath uh this is an amazing stability candle but it actually might give us some consolidation this so this could open the door for some conduct consolidation that is much much needed we've had this one you know unidirectional move in fact we even have a new line forming here if you look at this this is a new line so we've gone from this angle of steepness to this angle of steepness so we're getting steeper which makes things a little more volatile and it gets us closer to an eventual correction uh with this type of buying action after a drop like that uh we were probably not there yet but we'll see where we end the day if we end up selling off again and we close down here then we've got some serious downside we might hit 20 if we closed very very low if we hit near our days low um yeah we could we could correct back to 20. so we'll just watch and see what it does if if we end up creating a giant bullish candle we'll most likely consolidate for a bit and we'll head on up again now this was another surprise um what a crazy change in the altcoin market boy i'm a big fan of slower moves this is this is so sudden without any warning so we've got a big whale move where some big buyers just decided well time to buy all the altcoins so we went from a 2 million bitcoin market cap in alts all the way up to a high of almost nine so 8.8 million bitcoin we're settling back down at around eight but if we added a market cap of another million bitcoin that is a huge jump what a percentage increase so um this is good news though because these types of moves give give charts a chance for a correction we don't buy into stuff like this but we do but we do see it as a signal that the flavor out there is changing so we see a couple of strong days like this we give it a few days to consolidate and establish new lows and this is this is a formula for turning around uh the market so we might be starting to see our altcoin season that we've been looking for and waiting for um one thing to notice i'm gonna head over to bitcoin dominance bitcoin dominance was at its almost its all-time high i was i was mentioning this on another video that it's it was at a higher point in than it has been in three years it was ever since uh 20 july of 2017 and our tip top high in bitcoin dominance was 73.02 yeah 73.02 and when we uh launched up recently we cracked it but so our new high was uh 73.63 but we found it as resistance so this this line here touching this um three year high could prove to be a turning point so we might we might have touched it and now we're we're heading back down of course i hate to see it move down so quickly it doesn't give you a chance to get in like you know you don't you don't make a you don't you don't buy the falling knife and then hope for a sudden move without any warning you want to see structure in the chart you want to get a safe entry so these these aren't great this doesn't help us in our trading but it is a good signal so we'll take the signal and if we kind of pop up again and bitcoin dominance increases also fall back a bit but it'll give us a great entry point and then hopefully that should start off our new alt season which that would be pretty this is the reaction a professional trader makes when they miss the perfect trade yep life goes on so i just can't believe in a matter of three days that we had so many things happen um somebody was talking about uh hey what other coins should i be looking at you know and the suggestion in the comments was ethereum's uh definitely something to be looking at and my comment was well yeah i mean ethereum looks looks great and all but uh the problem is we're in a red zone uh we're down we're moving down um where you know it would and i kind of made the comment it'll take an absolute miracle for us to get out of the red zone so we're probably going to be sitting around for month a month or so before we see any change and then seriously less than 24 hours later we have this giant 23 percent gain in one day and we exited the red zone that is insane this represents so much money flowing in so i don't know which billionaire decided that uh it was time to buy all of the ethereum on the market but that happened and what a what a w but yeah this is this is something i did not trade i had i had an open i had some open trades for uh you know just because i was upside down on some things so i exited a couple of of trades that that i'd been waiting to exit but i haven't entered as a brand new trade um this one i just hadn't it just moved too quickly and i hate to buy stuff that's that's rocketing up i like i like uh slower entrances and you know what that's part of trading you know if you miss it you miss it and you don't you don't need to feel bad about it and you know it's not a competition we want to make smart trades and so if you miss it and everyone makes tons of money and they're all celebrating without you that's it that's okay you know we're not gonna we're not gonna be stupid and and and jump into a a risky trade so anyway but there are a lot of lot of changes that have happened over the past few days uh litecoin finally has been uh popped up a bit we we've been kind of you know we were we've been cheering on litecoin for quite a while but this last run where we lost this uh low we got lower um it just didn't look as good so this day was definitely welcome we're still rejecting off of the 50 week moving average though so we're gonna have to watch that closely ethereum classic is one that is starting to show a little bit of life and we are at a price level down here at the 2000 2200 or excuse me 22 000 satoshi level this is uh this is pretty this is pretty awesome so i'm not in yet but if we get if we get a nice downturn where we can establish a lower low excuse me a higher low um i'll definitely be entering this because this is a this is a high reward low risk trade for sure there are a lot of things so so xrp has been delisted from many exchanges so it's just kind of leveled off but stellar lumen from a percentage standpoint today has been something to really watch so that's one that's been on my list of kind of coins to watch so we might be might be getting a new entrance here pretty soon the one that that that does show the right support is did you buy so i've been watching did you buy because we we had a little bit of a chance of a change in momentum but but it fell out right here and then we found resistance there so this was not looking good but we did officially get our swing well so at the end of day yesterday at this green candle this digi bite was looking really really good so um it may have been a little premature just from today's action but i did enter a good position in did you buy i just feel like we're we're getting very close i think our risk versus reward is is looking really nice at these price levels so um i'm in did you bite right now and it's one of the few that i've actually picked up i'm still waiting for a confirmation almost across the board but this with this with these couple of days where we kind of showed the market that hey we're we're still alive we've got a heartbeat and then we swung low and had an awesome higher low this became an opportunity so keep in mind all of our positions are small so for if we're buying into uh into these coins we're making sure that we're 1.1 of our of our total portfolio just so we can deal with uh ups and downs but this is a pretty good risk in my mind so that's that's kind of the big one that that is making some headlines um oh last one uh dogecoin so a few days ago um about a week ago i mentioned that hey we exited the red zone on dogecoin and that was over in here i was like you never know i mean our our all-time low for doge is 15 satoshi's and so anyway after we had kind of popped up through here i entered a position at 17 satoshi's and boy what a surprise it's just a crazy coin you just have no idea what it's gonna end up doing you know it it just pops up without any warning but at least this one gave us a little warning so we had we had a couple of attempts in the past month and it was like okay maybe there's maybe there's something coming up here so i entered a position at 17 and i exited a portion of it at double because that's i like to reward myself for doubling up a trade but this is looking awesome uh it's it's tough to say you know will we do this where we popped up and then we just sold off back again and then we ended up lower than we began or will we do some of this where you have a couple of days that are looking really really nice and yeah you pull back because this is way too much too fast but then you go on these major tears you know what i mean like these types of things this this is what dogecoin does so i'm gonna be patient i'm gonna hang on to the rest of my position and we're gonna just see if it decides to to head up and and do some some new good old highs but yeah what what a fun trade this was because we kind of called it a little bit early here and then boom suddenly we double our our investment it's always awesome anyway it's nice to be back and i'll try to catch up on all the comments uh today okay it is time to separate the coin book trolls from the coin book fans so these are the magnificent t-shirts that we are giving away every friday these are individually packaged with love from your best friends china there's also this incredible option designed by yours truly and we'll be giving away uh probably one or two of these every friday to uh just a random comment and on any of the videos over the past week but and i don't blame you if you absolutely cannot live without one of these shirts i am willing to part with them for 15 worth of your favorite crypto just reach out to me on social media and we'll we'll get you guys hooked up