Bitcoin insiders are buying cheap bitcoins, do they?
In this video, I'm going to share with you one of the most powerful and best kept secrets by professional traders. I guarantee you guys that 99 percent of people do not know this about the markets and I'm going to share it with you today in this video. You'll see guys a few days ago I posted this video. Let me show it to you. So this is my video a few days ago, and in that video what I showed you was this chart of bitcoin and I was explaining what this movement in Bitcoin a few days ago could potentially mean. In fact, as you can see here, a few days ago, we had a quite an interesting surge or a pop in bitcoin into the 6,800 level. If I go onto a lower timeframe chart, you will see that that's surge that we had a few days ago. This is what it looks like on a five minute timeframe. Take a look.
You'll see on a five minute timeframe that pop higher looked like this as you will see here on this lower timeframe chart, but of course if you look at it on a higher time frame, on this daily timeframe chart that you see here, he doesn't look much of a rally, but it does certainly looked like a pop into those levels. Now, as I'm sure you're probably aware, there have been some interesting so called news stories about this event and apparently what may have caused that serge was that the beatniks exchange. Pause the trading. Now, before I go into this, let me just say something important about that. As I'm sure most of you know, bitcoin is subject to manipulation all the time, except we don't hear about it all the time. All right? In fact, every weekend algorithms and bots designed by institutions are constantly manipulating the price of Bitcoin, which is the number one reason why we do not care what the news narrative, what the mainstream media is saying.
Let me just say this guy's a lot of the stuff that is reported in the mainstream media is itself manipulation. All right. I'll explain this in a few moments and here's the big secret I want to share with you and guys. Ninety nine percent of people out there don't know this. There are two types of information. There are information for the masses, everybody else, and there is information for the classes. Who are the classes? I'm talking about the insiders, the elites, the professionals. Now let me ask you this question. Do you think what's reported in the mainstream media, the news narrative, the so called news narratives, do you think their information for the masses or are they information for the classes? Yes, precisely. They are information for the masses. What we hear in the mainstream media, and we'll get you reported, is just that information for the masses, the herd, but what we're interested in and what I try my best to doing these videos is looking at information for the classes.
What are the smart money thinking or that professionals? In other words, the elites. What are these guys thinking? You see guys, the elites, the professionals, the classes, the hedge funds, the institutions, they don't care about news narratives. In fact, let me just say this, guys, if you went up to one of these professionals in the city or Wall Street, and if you ask them, Hey, what do you think about this news event I heard, how do you think they'll react to you? They will laugh and I know this myself because it happened to me about 20 years ago when I was very young. I learned the hard way when I went up to one of these financial traders in the city and I said to them, Hey, what do you think about this news event? I heard guys, the reaction I got from the traders and the city was, who cares?
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Who honestly cares about any of that because guys, guess what? The financial traders in the city, the elites, the professionals, they're the ones who actually generate the news. They often produce the news. That is the manipulation that we hear in the mainstream media. So guys, remember these guys, the elites, the professionals, the insiders, they don't care about news narratives. The only people who care about that, let me just say, are the herd the masses, everybody else. So guys, if you're a source of information is the same source of information as everybody else, which is the mainstream media and the news and what's printed in newspapers and articles. Then guess what? You're relying on information for the masses. In other words, the herd, and we know the danger of following the herd. What happens if we follow everybody else? In fact, if we follow what everybody else was doing, guess what?
We're pretty much going down a cliff. So guys, you're probably asking yourself right now, well, what exactly is information for the classes where the classes doing? What are the elites doing? Professionals? What I can guarantee you this much guys, the elites and professionals, these guys, they are not relying on the same information as everybody else. Alright? Everybody else follows the mainstream media and the news and all that garbage. No guys, we want to know where the money is flowing. What we want to know is how money is being exchanged. Is it going from buyers and sellers or is it going from sellers to buyers? And for that, we need to be looking at the charts. Let me share with you a quote from one of the wealthiest and most important investors of our time, Bernard Baruch, who said this, he said, show me the charts and I'll tell you the news.
Let me just repeat that one more time because it's so important. Show me the charts and I'll tell you the news, not the other way around. He did not say, well, let me look at my newspaper and let me see what the news is telling me and then I'll make my decision on what's happening. No guys, it's the other way around. We look at the charts first to understand what's really going on. That's what I've been saying now over and over again in my videos, we need to be looking at price action because price action is pure. What we see on the charts is fact, which is why the trader Alexander Elder said there are two types of information, information for the masses and information for the classes. Let me just give you a couple of examples. They can look at this chart of bitcoin from last year.
Back in September of 2017, bitcoin dropped quite heavily as you'll see here. Now. What was the new story at the time when bitcoin dropped? Was it positive or negative? It was of course negative. Without a doubt. Take a look at this. This is the new story at that exact time when bitcoin drop in September last year, top Chinese bitcoin exchange to stop trading, so there was a lot of panic and fear in the market at the time that China could affect bitcoin. What was I saying? In my videos, I was saying the exact opposite. In fact, in my video of last year, I said, look, bitcoin has come down to an important key level of support. The 100 moving average, we're seeing a bounce off these levels. This is a bullish signal, and I said, this is a time to be bullish on Bitcoin, not bearish, and ignore the news.
Let me repeat that. Ignore the news. Narratives. Ignore information for the masses and focus on information for the classes. What had bitcoin do next? Executive be expected and it's staged a massive rally higher. Let me show you another one. Now this is the chart of the stock market. Now I know this is not bitcoin, but it's important. Let me ask you this question. For the last few months, what kind of news stories have you been hearing? All the time? Have they been positive or negative? They'd be negative. All we've been hearing for the last few months have been trade war, trade tires with China, North Korea, Iran, and the possible impeachment of president trump. Again, a lot of garbage and new stories, but again, what I've been saying for the last few months is ignored in use. In fact, as you can see here, I've been bullish on the p 500 the stock markets, so what does this teach us?
It teaches us that the only place where the news and the news narratives belong is the garbage bin. Now at this point you're probably thinking, well, how can we know what these guys are thinking? How can we know where the classes, the elites are thinking? Again, guys, remember when these guys take action, when these guys are going to do something about, let's say bitcoin or some other market, guess what? Their actions leave a trace. Their actions leave a trace on the charts. Whenever the insiders, the smart money is doing something, their actions gets reflected on the price charts. That's why we look at the price because price is pure price fact, which is exactly why. Again, Bernard Baruch said, show me the charts and I'll tell you the news. So guys, that is exactly why. A few days ago I said to you this action that we saw a few days ago on this particular chart right here on this price bar.
Notice that despite the, despite the jump, despite the surge that we had in the price of Bitcoin, notice where stalled. It stalled. I'm just bring this chart of it back right here. Very interesting. It is not just by accident that price of Bitcoin stoled at this key level we've been eyeing for some time. I've been saying this now for many weeks and months. Sixty 800 is a key level for bitcoin. In fact, you remember from last month that I said if bitcoin falls below 6,800, that is a major warning signal for bitcoin because that could potentially push but going down to $6,000, which in fact that's exactly what happened. So guys, what's happening is the fact that bitcoin stoled at precisely this level, you see here this 6,800 level where that trend, so that trail and coming down here where it meets us these levels, this is telling us that 6,800 on the bitcoin shark is becoming very important.
That is acting as resistance. That level is acting as resistance for bitcoin and what that means guys, is that bitcoin must be able to get above 6,800 to be able to change the dynamics. Now, personally, I don't think that even if bitcoin gets above 6,800, it's going to be enough. No, but in any case it's going to be something. And by the way, let me show you this chart here as well. This is on a one hour time frame charts of Bitcoin, and over here on the right hand side I'm showing you my market profile indicator, which I'm looking to release later this year, and look at this thick level. This is a thick level of market profile right there at 6,800 to 60 8:50 right over here, so even the market profile here is telling us that this is going to be a level for bitcoin. This is the level of where buyers and sellers could meet and potentially do battle, and that's going to be something we're going to keep an eye on. All right guys, I want to thank you again for watching this video. If it is help, please give it a thumbs up.