This is the WORST for Bitcoin - LIQUIDATIONS will be HUGE

The Essence of Crypto: Making Money Work for You

The whole point of crypto is to make your money work for you while you're doing something else. So, if you're spending more than 20 minutes a day watching the crypto charts, then you might be doing it wrong. We only need to double our money once per year to become a millionaire, so there's no hurry, and there is no hurrying it.

So let's take a minute to go through the charts. Then, I'll talk about what we should be doing to make money with the rest of our day.

• I'll go over whale feeding zone,

• I'll go over Bitcoin dominance and what that means for altcoins,

• and I'll finish up with the most important place for increasing your financial abundance.

Welcome to Digital Currency Traders

Welcome back, everybody. It's the 17th of December. My name is Doug, and I'm the editor of the DigitalCurrencyTraders publication on Medium. If you write about making money with cryptocurrencies, we would love to publish your articles. Check out the link below, and we'll help you make money.

Now, let's jump into the whale feeding Zone.

Here on the daily time frame, you can see how I'm watching for the price to come back to this trend line.

• Let's zoom into the 12-hour now and move our indicators just to see where everything's lining up.

• Now, we can see the 4-hour has pinched in quite a bit, so this is good.

• We're coming down to the decision moment now.

• And if we go into the 1-hour time frame, we can see that this is pinched down really nicely, and the 1-2-3's are starting to set up even more clearly now.

Analyzing Market Trends

Now, at the same time, we have 1-2-3 bottoms, one right here, and a nested 1-2-3 bottom. So, if you had gone short, that would be in profit. If you added onto that short and managed your risk properly, it would be in profit.

And now, you would have your stops to manage your risk, and you'd be hands-off because if it starts to go down, it'll go really fast.

There's nothing for you to do.

You've got your position, and if it starts to go up, your stops will kick you out, and you'll start to rethink it and look at the 1-2-3's from the bottom and start scaling in a very small position here.

And again, if we can consolidate with a 1-2-3 above that, we'll have a place to add on and to build our position size without increasing our risk.

So right now, while we're stuck between 1-2-3 bottoms and 1-2-3 tops, it's the worst place to be doing high leverage trading.

This is where you got to be small, and you got to give it time. It just, that's what we got to do.

Bitcoin Dominance and Altcoins

Now, if we go into Bitcoin dominance, we can see that dominance is easing off as Bitcoin prices are getting a little bit of strength.

And that means more money is coming into the altcoins than into Bitcoin.

Now, if Bitcoin really takes off, dominance could go up again, and we'll have to keep our eye on the alts. If you're into spot positions, for my own part, I'm just going to be hands-off and let them float and do their thing.

But if dominance continues to come down from here, many of the 1-2-3 bottoms in the alts are going to be taking off.

So let me go to the alt season co-pilot so you can see the perspective here of how many holds we have and where we have two new holds. We have five coins, though, that are passing the 4-hour EMA exit. So as those are churning now, we have to do a lot of work.

We have to pay attention to managing our risk, taking our profits, and closing those trades because they are matching our trading system's exit signals.

So if dominance starts to go up, that will put us back into Bitcoin for many of those coins, and that's what we should be doing. Our system will get us back in there.

Long-term Perspective and Strategies

Now, I want to zoom out a little bit, so I'm not going on too long in this video. We can see where Bitcoin dominance is way up there. If it starts to come down, we should, the alts will make some great profit. Now, as I zoom out to the longer time frame, you can see what happened for me in the past.

I had $500 in May of 2015. May of 2016, I had $5,000, and you can track what happened in Bitcoin dominance and the altcoins during that time. And that's why my Bitcoin went up by that much. In May of 2017, I was up to $50,000. In January of 2018 was the peak for me at $530,000, and I really wasn't ready to make that much money that fast.

So now, I have a better plan for what I'll do with it.

But I didn't understand Bitcoin dominance through this period of time, and it really frustrated me because it wasn't doing what I expected. And this is when we created the altseason co-pilot spreadsheet. It evolved and improved over the years, but now it's been collecting data for 5 years.

Every time Bitcoin dominance has gone up or down, we've tracked the transitions every single time, up and down, up and down. And now, our system is very clear. There's nothing left to doubt in it at all. It really works well. It milks the money out of the, out of these season changes, out of these trend changes.

So as this is coming through now, all we do is we just follow what that system tells us because we don't know the future.

And it really only takes about 20 minutes a day if you go in, and you just do what the system says for the transition points, and you just build out your portfolio that way.

Creating Multiple Income Streams

So now, I want to finish up the video by talking about moneymaking. We don't know the future for cryptocurrencies, so we really only should be spending 20 minutes a day. We just put a little, we trade in there, and we let that trade take care of the market. But how fast to become a millionaire, there are other ways to make money that you could be bringing into your system.

So our ultimate goal is to earn money from our income stream and then take a part of that money and make that money earn money for us.

But if you don't have enough income stream, I recommend that you go online, and you start publishing about your hobbies, cryptocurrencies, whatever you're working on. Make some money on Medium, and then take that money and start to grow it through this, uh, trading system.

And so, by doing these videos, I'm creating extra income streams for myself in many different ways.

• I'm a little bit from YouTube,

• a little bit from Medium,

• a little bit from the affiliate fees,

• and other projects that I've set up now that people can be promoting on my behalf.

1. So I have me working for my money,

2. I have my content working for money,

3. I have my crypto working for money,

4. and I have my audience who are promoting my referral programs. They're also working to help me earn money.

If you get those four things working for you, you can become a millionaire. And that's what my passion is now, is to help you become a millionaire. I would love to hear your success stories.

So that wraps it up. You should be working for you, your money should be working for you, you shouldn't be watching your money work for you. You should be spending time creating content online so that your content is working for you. And as you build all of these ways of earning money, you're just going to be getting wealthy faster. Great to have you along, trade safe, and keep those losses small.