 What is going on ladies and gentlemen today is the 22nd of May 2023. It's about 1 p.m. Eastern Standard Time and Welcome to another episode of Let's Talk Crypto Once again, I am your host Bitcoin Jay from Bitcoin Daily and I'm here with the Bitcoin Queen. How you doing Bitcoin Queen? Pretty good BTC week is over. Yep. I can relax. We had a great time If you guys caught the Jay's talk if you were in Miami for the chicken conference, you saw his analysis, which was spectacular But overall we're pretty good Yeah, definitely had a had a great time there once again. Thank you for Putting that event together. I know you put a lot of time and work into that I met a few people that are that are subscribed in our followers of the channel So I was able to yeah, I was able to chop it up with them over there a really good time So definitely thank you. Thank you for putting it together and thank you guys for those who came out there as well and supported Great definitely a great experience But today we are it's a new week, right? It is a new week. We're coming towards We're getting towards the end of the month of May There's no real big catalyst for the rest of the month coming up you know The last few months we've had a lot of a lot of catalysts along the way we had you know from inflation data to We had the banks follow the banks failing all that so we had a lot of stuff We actually the last well this month in particular there hasn't really been Too much going on We didn't get like the CPI reports, but it wasn't much change in the CPI report We got the the rate interest hikes, which we expected it came out exactly as expected so not much change and And it's and we're in a very very tight range one of that's the tightest range We've been in in Bitcoin since January of this year So we'll go a little bit more into detail on that during today's market analysis So we can talk about what that means for Bitcoin What happened last time that we saw some similar ranges like this that was this type So let's go ahead and jump into today's price update Let's take a look at the prices here as you can see currently. We're sitting at about $26,800 just below 27,000 we were at 27,000 Probably about an hour ago, but you you already know usually once we go live once we start streaming prices go up So let's see what happens with the price there Today while we're doing the live stream Yeah, right And as you guys can see this has been this is a daily time frame. So basically since let's see the 11th, I would say Not yeah, pretty much the 11th. We've been below just below 28,000 and pretty much above 26,000 so we've been in that in that small small range We have one day on the 12th That we went we went way lower we broke into $25,000 and then we pushed right back up and then we just kind of been ranging here ever since And you know not much has has happened really and pretty much if you look at anything else It's it looks exactly the same. This is Ethereum. Ethereum looks exactly the same Looking at Solana Solana Looks similar, but with more exaggerated moves And you kind of see that across as well if you just continue to look at different coins here not Tesla It's not crypto But if we go ahead and take a look at the top coins here see what they've been doing the last seven days or so You can see Bitcoin is down about two and a half percent a theorem down about one and a half percent Binance down almost two percent We do see XRP here is up about seven percent and that's because Last week they actually the judge in the case versus the SEC rolled in their favor On releasing I think the SEC was trying to seal some sort of documents or records or speech or something And the judge ruled against them and in the favor of XRP. So that's why XRP pumped a little bit last week in the last seven days And then the other one that's kind of moved here. We can see Tron here I'm not sure exactly why Tron is up 12% the last week But the one I was gonna point out was a litecoin up 3% we did retrace a bit but It's actually moved pretty well In the in the last week or so If you put it against Coinbase right Coinbase is down about three percent like coins up three percent And that has a lot to do with the upcoming halving event remember that's in August So we're about three months out from the litecoin halving event If you guys want to know more you want more in-depth details on that on what that means for litecoin And what that can mean for its price I did a full video breaking it down and I also did a Twitter thread So if you rather if you rather read it, you can check it out on Twitter if you rather watch it You can check it out on YouTube. I give you guys both options and and if we go here to the top Crypto gainers and losers in the last 24 hours We can see Neo is at the number one spot up six and a half percent and That's pretty much conflux is up about the same thing six point three percent tron of four and a half percent And and I mean nothing too crazy Nothing really stands out if you look at the losers the biggest losers is paper down six and a half percent Again that that's doesn't really stand out. There's nothing here that stands out in the top 100 coins So again, not too much going on. It's being kind of a boring week Which is better than having a down week, right? So if we look at the economic calendar, what's going on this week? What are we looking for this week? There's really only one main thing that we're really keeping an eye on this week, which is the FOMC minutes So that's going to be at 2 p.m. On the 24th of May on Wednesday So basically they released their their notes basically for it for for their previous meeting Detailing, you know, what was discussed? And their outlook and all of that So that gives us that's gonna give the market a little bit more of a hint on which way they are leaning As far as for the for the very next What is it the it's down here the interest rate decision So that that doesn't happen till next month But this might this might give some insight until what we can expect what we can inspect Oh my god, I can't say I can't speak English today. What we can expect. There we go I said I gotta go back to doing the show in Spanish. I know right. I did it So right now the market is expecting a pause you can see the 68% chance of a pause Once they do that interest rate decision. So they're expecting a pause, but they're not the market's not sure right now So it's 68% pause, but there's 31% chance that there might be another 25 Basis points hike. So they're still trying to figure it out, right? This number was up above 90% just a Week or so ago and it's already been dropping every day a little bit. So we're currently sitting at 68% Maybe this the FOMC minutes will give you give us a Clear picture on what we might expect here. So So that's pretty much what will the biggest thing we'll be looking at You know, if it's looking like a pause for next month Then the market is probably going to try to to begin pricing it in Because that's what the market likes to do that like they like to try to front run the moves and they like the market likes To always be correct on those moves as well. So I think I pretty much covered The main things here for as for prices on what's going on with Bitcoin out coins The just the general overall of the market and what's coming up in the economic calendar Now we're gonna pass it over to the Bitcoin Queen so she can cover some of the news that's been going on in the past So, you know, you mentioned Dex are peer-reliar and the thing that I think is crazy about Everything that they've been going through is that they recently announced that they have spent $200 million protecting themselves against the SEC and I think that's insane That's an insane amount of money. Yeah, okay for for court fees and lawyers and all that. It's it's I think it's wild. I Just I just had to put that off there, but it's definitely what they're while they're while I think right? It's insane It's insane Hopefully, hopefully this gets over with soon because I mean, I just I just don't know how much Like how much money does like a corporation recently have to be fighting against like a government entity? Like especially if it's costing them that much like crazy Hey, so let's talk about Biden who has been in the Headlight of the news. We'll talk about politics a little bit first So pretty much president Biden recently had said that he will not Come to a deal helping wealthy tax cheats and crypto traders while people are on Food stamps pretty much what he said So there's a bipartisan deal going through the house right now and basically it's to raise the debt ceiling So as many of us know the I think the ceiling will be at its top or ever needs to be raised as soon as June The in technicality the original hypothesis was for July but it looks like we might be hitting that that ceiling a little sooner than we Thought we were basically what that means is that the Fed or not the Fed but the the government will run out of money And we need to come up with more a.k.a. We got to print some more for spending It's really hard to Come up with money if it's not printed within these government entities because there's obviously not as much inflow or Money being collected from taxes and things of that nature, which is another reason why they allocated I think it was ten billion dollars for the IRS to use over the next ten years to help attract or Make sure more money has been settled and collected from citizens from taxation So I'm pretty much Biden's like hey, I'm not giving any of these people tax cuts But you know ironically these are the same things that exist for Stockholders, this is anything that is nothing that's new So for him to be you know saying that he's not negotiating on the idea of This is all around the proposal of him saying, you know, 30% tax on Bitcoin mining or You know raising the tax for people who like do things with crypto and all that kind of stuff It's I don't think I don't think a lot of people realize that a lot of this funny money is like here today I'm gone tomorrow and a lot of stuff is also unrealized gains The people who actually have made money within this industry either a get paid and like crypto and stable coins and they're already reporting it or be They're playing around with mean coins that might go to zero and before they even get any profit Or if they have things like NFTs, which you know, there's only a handful of them that have done very well They're holding on to them and they're not worth anything until they sell them So it's like it's like a very weird like stigma that's been taking them like amongst these crypto bros Like there's a lot of bros that like to you know show off and like claim they have all these money It's in a lot of it's even it's let's let's even talk about the influencers the influencers who? You know dump on their communities sometimes and or take payment up front apart from you know from companies apart from You know what they're pushing like it's not even Crypto sometimes that they're accepting it's a lot of cash payments that they do in fact have to fill out taxes for So it's like a very weird stigma that's happening right now in the White House like thinking back crypto people are rich like no We're just as rich as like anybody else. I mean AI is gonna take over all of the crypto hype very very soon. It's already started doing it That's why investment in crypto is way down. We're down 92% for investment for the projects That's I mean that that in itself should speak So I don't know. I think this guy is kind of a little insane People who have actually made money off this or I mean, they're probably like early Bitcoiners early Ethereum early Solana people who got in at a reasonable time for projects and just a lot of stuff is unrealized gains There is Honestly far in few crypto traders who actually trade most of the crypto traders that I've met work for hedge funds and family offices Trading other people's money, which is all KYC in all play tax, you know, it's it's kind of insane There's very few people who even use some of these like loopholes that are being claimed to exist but Not not great and it also doesn't help because the SEC says that They have they have our no rush to make any regulatory claims Against crypto and it might take years. However, they're suing people left and right so You're not you're you're On one end, it's like there's a dissolution between how much money these people aren't making on the other end the SEC is like Hey, we're not going to provide any clarity for a long time because We are in no rush to do so, but we're gonna sue people out of their mind Really weird stuff that's happening. It's definitely slowed down. However, I will I will agree that it's slowed down because like You know the past month has been People just getting hit left and right with this stuff Now it's just it just looks like we're in disagreements with with where things fall, but Well, we'll see what happens there any thoughts Jay It's it's it makes zero sense whatsoever because I don't understand like they're they're going around suing people suing companies for You know, whatever and They're like, oh, yeah, but we're not putting out any clarity We're just gonna keep suing companies and suing people, but we're not we're not making anything clear So we're just gonna make it they're trying to make it as difficult as possible for crypto right now at this point And they're gonna continue going they they're gonna continue going after exchanges after, you know companies after whatever and without, you know Putting any regulations or without just any clarity whatsoever on on what they're going after exchanges and people for so it just it makes zero sense to me right now at this point and Like you said, they said that they're in no hurry So it's almost like they're laughing about it, right that they're laughing about the matter They're like, yeah, we're gonna continue to to go after you guys And we're not gonna tell you what they're with what the you know, what we're looking for what we're not looking for We're just gonna keep continue attacking crypto So it's very frustrating. It's very frustrating. It's definitely pushing companies out of the US You know, and it's it's It's frustrating. I mean what am I gonna say like if you if you look at the the case against XRP, you know that we just talked about They're trying to seal documents that are not in there that that have to do with the case Because it doesn't help their favor, right? It's not in their favor. It doesn't help their case So they're they're going around trying to seal documents so that XRP can't use it against them Because they know if those documents are are used in the case. They're gonna the SEC is gonna lose So, you know things like that and now that that the judge ruled against them now They're just appealing it. So now it's gonna take, you know, they're just gonna continue and continue and continue to extend it They're gonna try to take it out. Yeah, it's it's really not great This is it's funny because I think I don't know in this one the I guess I guess the SEC pushed out The stuff against Albrand, but people are now starting to question Ginzler Like why were you seen as an MIT professor prior to taking your, you know, you know You know being a chairman of the SEC promoting this thing that you're going after it's like it's like sir, you know It's like people people in Within office and within government are starting to realize these things that are not making any sense And I think very very soon Maybe there is some restructuring that happens because it's just like it's it's very corrupt what's happening It's very clear what's happening. It's it's not great And you know, I get it like the US dollar is meeting and it's not in a good spot between Bricks and all the in between it's not it's not great and I understand that but at the same time you're hurting people There's people out here who You know, you're damaging them in one way or another whether it's they put their life's work into this thing and now they want to you know, raise money for it and they can't or You know people Who who did stuff like tornado cash and you know, things just went to zero. It just no sense is made but on the right side new presidential candidate who is currently running Robert F. Kennedy is bullish on Bitcoin. He states that it is a Form of democracy and freedom Ironically actually went to go see him prior to him speaking at the Bitcoin conference at a private event And really solid things. Most of my friends who are within the industry really like his message I do think that he's a pretty solid guy. He has a pretty solid message And maybe we can get someone else in office that may have some More optimistic views about what's happening and can steer this in a way That hasn't been steered for the past few months because it looks like it's just been like you said attack After attack after attack versus not recognizing that there is real citizens taxpayers Homemakers who are utilizing the stuff to make a lot of living and you know, do do different things because You know, we're human and we we find We all can't just do the same thing. We're not cookies, right? Like we're not cookie-cutters and it's just not right There's lots of industries out there and this is just like any other industry and hopefully if Robert Kenting jr. Ends up getting elected into office, maybe we can have some Different perspectives being thrown in and maybe we can get clarity much sooner because I think that every company Across the board that's like operating in the US all they're asking for right now is clarity All they want is laws put in place to not only protect themselves But avoid things like lawsuits and wasting money on trivial things, you know, like like a lot of these these lawsuits are being put in place to just wish the shareholders or people who are invested in the company that's already there and it's like Like why you know, it's weird, but let's see what happens there. I can't I So for some reason when listening to Robert Kennedy, his voice is just like it's so Yeah, you know That's the number one complaint that I keep hearing about him, you know, nice guy, but he's his voice Doesn't he doesn't it doesn't sound Confident, you know what I mean? Like, you know how usually the president? Yeah, like they're they're easily Like they just have that confident tone to them Like usually there's a lot of people that imitate presidents because they have such You know the the voices that that are really appealing and like confident and and either or funny You're like, you know in Trump's case, it was just a funny voice overall, but like, I don't know Kenny I don't I don't know. I don't I don't know if he has that it factor You know what I mean? I feel like that voice that confidence that charisma the character is part of that it factor I don't know man That's definitely been the the number one. Well, I mean his his his overall standpoints and like what he represents is great. Oh Unfortunately people When they're choosing, you know, whether it's a celebrity or someone to put in office, these are factors that they Definitely cataralyze and Make fun of cuz cuz his voice is a is a bit worse. It does sound like he's dying Even though he's a very strong man if you see this man in person and he looks like he works out This forums are huge like this big and they're like he's he's like he himself is in very big shape I don't know what happened to his voice. I can tell But yeah, that's that is an unfortunate truth. Yeah, that's all I gotta say about that. Oh Wow So on to our good friend as SPF so SPF is currently getting sued by FTX There there's I've seen two figures. I've seen 220 million in addition to a couple other million that adds it up to 250 million Pretty much what happened there is a few months before F FTX declared bankruptcy. There was a deal that was made between FTX group and I think it's embedded to Basically push out and allocate money towards this Group of people who are like raising raising money And that deal went through prior to bankruptcy even though it was initiated months before And pretty much they're like, hey, we want that money back. So SPF is currently getting sued. Yeah, I don't really know if he has all that much money to be honest I feel like he just lost it all Maybe it's hiding somewhere. He has properties. So he needs to sell off. So he actually He actually just you know, you know open AI that they have that world coin or whatever So he was actually in the seed around of investors for that coin So they just raised a hundred million dollars SPF was in the seed round. So he definitely has money This was recent recently he's still investing recently Does not give a you know I think is I think I think this amount of money is Does he have millions probably? Does he have hundreds of millions? This is the question and you know, this is what's in question I think that Maybe did he sell all his properties in the Bahamas or are they still that I don't know. I'm not sure Yeah, because obviously his his money is definitely tied up in properties I know they sold they were the the big one was on the market But whether the sale was finalized, that's unsure. I haven't checked back, but he also had a smaller condo on a cable one beach That was worth a couple million. So that's another one. That's in question And then outside of that, I don't know how much property this guy has but his money staff who was tied up in two properties But yeah, they I Don't know how that guy is still out of jail I thought he was banned from like using the internet. How did he manage to go it on this round? This is this is crazy I I don't know. I can't I can't even answer that. I don't know Okay, well We'll watch that story closely. Yeah anyways, so I was thinking about tornado catch earlier and Turnip has lost a little bit of limelight because of Obviously the sanctions that have been placed against it and the restrictions That have been placed against it even though it was a very very very predominant protocol at one point in time Recently the Dow was still in place and it was still in order and it was still working except somebody submitted a malicious proposal to Tornado cash and it was approved with malicious code which gave them majority rule of the Dow and although Tokens that were still floating Outside of the Dow are still okay anything that was the state inside the Dow was basically seized and dumped by the hacker and That is the end of the tornado cash Dow. So If it wasn't dying before it's definitely dying now Just needed to put that out there Tether also is looking to allocate up to 15% of its profits to his purchasing Bitcoin which I think is a great call to take an advantage of the markets and I mean that's their prerogative, right? If they have profits They could do whatever they want with their profits, but that's cool And then Pakistan is set to ban crypto. Unfortunately. I guess they do not like whatever is going on with crypto Which is interesting because a lot of those countries in the Middle East they have really cheap electricity and some of the miners That become less efficient over time end of getting shipped over there and used Even if they mine, you know gain little bits of money a day because you know It's basically free money because the other person is basically free. So Thought that was interesting You know, I guess Pakistan is one of those places where I guess even women are still like Suppressed there. Yeah, for sure. Yeah, so it's like it's one of those places where if something doesn't Doesn't agree with the idea ideologies of the government like it's just gonna get banned Which I mean Islamic finance is on the rise and that's obviously like a Muslim region however, I think a lot all the meme pointer he has probably gotten to Has has outshined everything else. I think that's what's happening in this region specifically because these are regions where it's it's the I don't want to call them gangs, but They're the rebellious groups that end up like overthrowing the government and all that they just They enforce their ideologies and that's it. This is what ends up happening. Unfortunately So no surprise there. I'm not surprised it wasn't banned already, but um, yeah, here we are another day in crypto Another day in the meme cornery I think that that that covers the news, right? Yeah, pretty much there wasn't anything that was like nuts. Yeah, I think it's because everyone was at Bitcoin Miami So like maybe they were like honestly, there's probably like feds like sleeping the people out Like who bought tickets and stuff trying to see what was going on trying to get the intel. I'm sure but Yeah, we'll see what comes out over the next few weeks because I'm sure Things are gonna start picking up again. We are What 2024 is the election year? Yeah When yeah, so I mean we're we're halfway to through 2023 You know people are doing their campaigns primary. I mean the primaries are coming Soon and you know all the betweens so things are gonna definitely start ramping up and maybe just maybe They will start ramping down because obviously You need to gain favoritism for the people who are voting for you right and it's either you said fast hard on what you've been doing or You have to kind of like soften up and like figure it out, but there is no in between So we'll see what happens over the next few months. Yeah, for sure. I'm a percent. All right, so let's uh, let's jump into Market analysis here on what's going on what I'm watching this week and how I'm gonna look to play so Let's look at let's start off by looking at a couple different scenarios here So I want to start with some bullish scenarios first Right now the bullish scenarios that we currently have Let's see. Let's go over to I Set the different things up on different charts. So I just kind of kind of got to go through them here All right, so I found one of them. So this is one of the bullish scenarios right now If we look at the weekly chart, we'll see that we still have this inverse head and shoulders In play right so this pattern here is still valid where we had the inverse head and shoulders We had a clear clean and clear breakout Where we hit this resistance up here And now it's looking like we're you know, we might we might be retesting that that That neckline now if that were to happen that means that we have more downside to go because that would be at around 24 to 25 thousand dollars Okay, so that's that's the first thing There right we have that inverse and the target for this inverse head and shoulders is up here at about thirty six thousand dollars All right, so I'm still expecting this to to play out But remember this is on the weekly time frame. So this is not gonna play out overnight You know this breakout. It's been one two three four five six seven eight nine ten eleven Eleven weeks since the original breakout right so as you can see it's not something that plays out overnight We set up we broke out set up new highs here Since the fall right and now we're gonna we're pulling back a bit and I'm expecting this eventually to head back up now another Bullish scenario here if you if you see this moving average here. This is actually the 200 day I'm sorry 200 week moving average and if we kind of zoom out a bit here Let's see. Let's zoom out and and just kind of focus on that that moving average and This chart looks like it doesn't go back far enough I think this chart does yeah, so ignore all the blue lines That's something else that I was looking at. Let me see. Let me find a different one because that that is kind of annoying Here you go. So Let me just get rid of this If we look all the way back and actually drew this out on this chart, so the perfect chart The blue line is a 200 week moving average and you'll see that back in 2014 During that bear market the price held at that support of the 200 week moving average Kind of wrote it for a while and then and then once again in 2015 We retested it here and then that's when we broke out into the 2017 18 all-time highs Then when we dropped back down in another bear market in 2018 You can see once again look at where the price went it went to the 200 week moving average And then it went into its next move up But and then when we retested down This was actually during coven in 2020 Look at where the price went to 200 week moving average boom We went on the next bull rally hit new all-time highs Drop down and this time we actually dropped it below the 200 week moving average for the first time And when we broke below it we came back up Retested it and then continued to the downside right so the reason I mentioned that is because now We broke back above it and now we've retraced we've pulled back to the 200 week moving average And we're currently retesting it right now So this could be very similar to what we saw over here after we broke below it right we broke below it We went back up retested it and then continued down we continued the trend right we continued this trend So could we be seeing something similar now to the opposite side as you guys can see the trend has changed right we bottomed out right here set up a new higher high new higher low and Another higher high another higher low. So this would be another another. This would keep the same structure in tact right and This would be that we test of the 200 week moving average before we continue on this trend To the upside here. So that's another thing that we're watching here as far as a bullish scenario Another one more thing on the same chart is what we just spoke about. We have higher highs higher lows higher highs higher lows So it's expecting to see another higher high Up here somewhere right so that's the other thing that we're watching right now So those are all the bullish case scenarios now There are of course bearish case scenarios as well if we go to the daily chart the first thing that that we can see here is On the RSI Right if we kind of draw a line We draw a line With how the RSI has been going right it's been setting up lower lows If we if we during that same time frame if we look at the price And we've talked about this before It's going up. So RSI momentum going down price going up. That's a bearish divergence So usually when there's a bearish divergence In the market there needs to be it needs to be corrected and that could either be with a pullback or with just consolidation for a Extended period of time and I think we've kind of seen a little bit of both. We've seen Consolidation here for a pretty extended period of time and We have seen a pullback at the same time. So we've been in this range since March So pretty much two months at this point in this exact range. We've also seen a pullback here as well so You know, we can potentially either continue on this consolidation or we can pull back further, right? So that's the the first bearish Scenario the next one is if we stay on the daily time frame here Let's move this out of the way We'll see that on the daily time frame once again. We have boom boom And what is this? This is left shoulder. This is a head. This is a right shoulder So that gives us a head and shoulders, right now If this was the head and shoulders that would put this right here Pretty much around the neckline Meaning that we're at the break down point of that and if we were to break down Then we're looking for our target target would prop would pretty much be from the neckline to the top of this To the top of the head, right if we place it at the The neckline where we the breakdown would happen that would give us a target of about 24 23 thousand dollars and if we look for some confluence in the same range We can see that you know, we've had some We've had some resistance there before Looking back here. It's also acted as resistance. We can see here more resistance So it's clear that between 24,000 to Pretty much 24,000 dollars. There's a lot of points of interest in that range Which would be be a little bit of confluence with a drop down to those prices. So Another thing to note though, this is on a smaller time frame. So this can happen faster but The weekly time frame is is more you is usually more accurate than a daily time frame So that's something to keep in mind and on the weekly we have a inverse heading show so But remember when we just looked at the the inverse head and shoulders We saw that there could be a pullback to the neckline to her for the retest which would put basically It would mean that the daily heading shoulders would play out because this is pretty much the same level a retest of this inverse head and shoulders breakout would be at 24,000 and as we just saw On the daily time frame if we break down on that daily heading shoulders The target would pretty much be around the same price 24,000 dollars. So Something to keep an eye on and something that we're watching there now as far as what we're going to be How we're gonna be playing this week what we're gonna be looking for if we're looking to take any trades This week We're gonna try to keep it as simple as possible. Remember trading is already complicated enough No reason to over complicate it, right? So we're trying to we're trying to keep it as simple as possible here We're gonna draw our main resistance in our main zone So the green boxes are supports red box resistance You can see that we're just we're pretty much at the tip of this green box. So Where we're at the tip where we can fall here and drop down to this next level, right? This next box is sitting around basically 25,000 dollars 24,000 dollars. That's the next big area of support So in the downside if we saw a downside, that's the way it's gonna go now I'm probably not playing any anything's to this side because we're at a support right now and Because we're at a support You know the plate is going to be if I'm looking to enter anything. It's probably gonna be to the upside I don't want to get into something like this one here where it's a fake out to the downside And then it just you know jumps right back up So for now, I'm probably staying out of any short positions Where there's a lot of support in the area. We have this we have the 200 week moving average So there's there's a lot of support there. I don't want to jump into a short position here so But if we were to fall down here to a 25k range, then I might start looking for a potential short maybe below 25 or Below 24 so I'd have to reevaluate at that point if we saw a drop down Now to the upside there is some we do have some possible upside here as where we are sitting at on this strong support here I would if I want if I want to enter I probably want to look to enter on the 200 week moving average or as close to it as possible which currently sits around $26,300 So if we get a pullback to around 26 300 then I might be looking for a long entry at that point And try to write that up. I'll probably hold that more as a scalp Because I'd be looking to take profits probably around $27,000 my first area to take profit After that, I'd probably be looking on the top of this range where we've been kind of stuck That so it's probably gonna be before 27500 if you if you want to hold for a bigger move up you can but I'm probably taking profits at 27,000 I'm leaving a runners up And if I see that prices once again not going above to set up a new hide Then I'm probably you know closing out the rest of my position. That's pretty much the only thing. I'm really looking for this week If we break above these highs, that's another potential long That'll be a basically a break above 27 600 Or if you want to just kind of keep it a little bit cleaner a break above 28,000 dollars And that's pretty much it that's pretty much what I'm watching for this week Those are the levels that I'll be looking to play Not really looking for anything to the downside right now just because there's not too much room down You know and I don't want to be in a fake out like we saw here So I'll probably I'll only look for downside if price pushes up higher Maybe closer to twenty eight thousand dollars if I see that price is failing there And there's low volume then I might be looking for a short at that point But at these prices, I'm not I'm not currently looking for any short setups right now I Think that's pretty much it. I think that's that's the main things I'm looking for as always with out coins You know out coins are going to follow whatever Bitcoin does You can see this the same very very similar setups here in Ethereum You know, it's currently at a support to previous support if we lose this level Then we could drop down to maybe like the sixteen hundred dollar range Maybe with a low of around fifteen hundred dollars. So that's currently what I'm watching here That's what I'll be playing this week And now we're going to do some Q&A's so if you guys have any questions that you want either myself or the Bitcoin Queen to answer Could be anything that we've covered in today's video anything going on in the news Or maybe just want to know Bitcoin Queen's favorite color Just drop it in the comments and And we'll go ahead and answer it So I'm gonna give you guys a couple minutes here. If not, we'll we'll wrap things up. We're Approaching the one-hour mark. So, you know, we try to keep these under an hour for the most part Let me see let me look through the comments here I Saw somebody asked you earlier if you're still into stepping. Yeah, I saw I so I did answer him in the comments That was a tang tang bang. He was asking me about stepping and yeah, like I No longer am using stepping. I do still have shoes and every now and then when I walk somewhere if I remember I might turn it on just for fun But it's not something that I'm like actively doing I did you know It's almost a year now since the whole thing with seven happened, but Yeah, they kind of took the project in a direction that I didn't like I tried to address it with the team team ignored me So I made a post about it on Twitter then the team finally acknowledged me and and they're actually very very How can I put it they're pretty disrespectful I would say Yeah, they're pretty Disrespectful and They tried to get me to take down my tweets and they only wanted me to spread the messages that they wanted to spread And they want Right they wanted me to spread their narrative and I said no I refuse so so I We you know, we went in separate directions and I walked away from the project and I stopped covering it all together So that's kind of the gist of what happened with stepping and and if you look at step in's Coin You'll see and if you look at it from the time that I left in let's see when was that I left I left like some point in July of last year Where are we we're in the daily if we look at Weekly here if you look at July Yeah, so it's already actually set up for when I from what I left here If you look at July when I left till now they're down 72 percent the project is down 72 percent from that point On their their what's supposed to be their main coin GMT? Oh, you guys are So yeah, so yeah, so I left in July their coins down 72 percent ever since then and you can see in GST their other coin it's down Also 58 percent since you know, I walked away from it and I saw I saw that this this trend coming And I tried to help the team But they you know, they they they knew better than everyone else, I guess and they didn't they didn't want to take Suggestions or ideas from the community or from small players like myself, I guess so So yeah, so we walk that we went in different directions pretty much is is what happened with that Let's see what's going on the rivers, how you doing? Ducky Dave. Oh 100 deaths. What's going on man? How you doing good to see you in here? Haven't seen you in a while Ducky Dave 92 said what are your opinions on the recent meme coin craze? So You know, we've talked about it a few times with meme coins that there is opportunity to make money You just you just got to be in there at the right time, right? So with meme coins, you got to be in early if you're not in early You have to try to catch a pullback and the catching a pullback can be tricky with meme coins Since there a lot of it is not based on technicals It's not based on fundamentals is not based on utility, right? So meme coins are 100% driven by community So because of that it can go up for no reason at all the same way it can drop for no reason at all So you have to one Keep up to date with the community. What's going on in the community? What's going on with the overall of that, right? To you got it you got to you got to see who the whales are who are the big players They're making lots of profits or that hold a lot of the coin, right? And there's different ways that you can follow those people I've done a couple videos on how you can follow whales Including I did a video where there was too well. There were there was three wells that made, you know millions in Shiba Inu and then made millions in Bebe and Basically put their addresses up and showed how you can kind of watch what they're doing what they're buying what they're selling And then maybe that can give you an edge on What the smart money is doing right because if they caught two different meme coins and made millions off of it Then obviously they might know something we don't know, right? But at the end of the day, it's it's I think meme coins is more of a gamble more than anything else It's a game of musical chairs You want to make sure that you have a chair when the music stops so That's the thing, you know If you're if you're investing anything into meme coins Make sure that it's an amount of money that you're okay with losing If you're not if you can't risk losing that 100% I would say do not invest in meme coins If you don't mind putting a very very very small fraction of your portfolio and meme coins just to try it Try to see if you hit one you get lucky is like bought buying a lottery ticket, right? So, you know, you don't mind some people most people don't mind paying ten twenty dollars for a lottery ticket But you know don't start throwing in thousands of dollars into it If that's a large chunk of your portfolio or if that's all your portfolio is it right? You don't want to you don't want your portfolio to be completely Made up of meme coins You want to have a foundation made up of like the blue chips and crypto like Bitcoin Ethereum And then you on top of that you want to have some more, you know safe Projects with the higher upside and then after that at the end, you know, is the meme coins meme coins are like the luxury, right? luxury items, so That's kind of how I Would say to if you want to play meme coins that you can play Bitcoin Queen what what are your thoughts on that? The meme coins. Yeah, it's definitely something that you play around with Honestly, maybe it was a pretty lucky shot After that like it's it's kind of like a hit or miss the first one is always going to be the best and Anything that comes after that can be risky because like you just don't know by that point in time. There's a lot of people just like Deploying anything and everything And even influencers that they rock people all the time. We've seen that actually a lot in this past meme coin craze It's gonna fizzle out eventually Probably give it like a month or two. It's it's I mean people are already starting to take profits on their Pipe even and it's it's starting to dump the market a bit so It's one of those things where if you can catch it really great When Bitcoin actually runs some of the stuff is gonna be pulled up anyways So if you are so very very bullish on baby and Bitcoin runs and that also starts running a bit because it's getting pulled up You know maybe play with it. But like other than that, I don't I don't I don't really like getting into all that stuff. It's just it gets problematic I like the idea of Doing some of this stuff like wholesomely, right? Like a lot of this stuff is scammy and that that is what it is Yeah, and for every pepe there's for every successful pepe coin. There's Thousands probably of meme coins that failed. So um those and literally thousands. I know I I saw I saw this thread on twitter where there is a They basically found a wallet that creates two to three meme coins a day. So um And the majority are our failures, right? So just gotta be careful Pretty much. All right. So the the last question we got five more minutes here Are you using ledger after the latest news? So, um, I don't know if you have a ledger If you do are you using it still after what happened with uh with ledger? It was in conversation with this someone last night. Um, actually looking for alternatives Uh, I there's a lot of good like bitcoin alternatives for some of this stuff. Um I don't I don't really have good experiences of treasure honestly. So I try to stay away from it to be completely honest With ledger I think the scare overall is A little more problematic than it actually is in reality But the fact that it can be Done like it can exist. I think that's what's really like like Like piss people off. Um Yeah, I I think the other good alternative that I've seen that's like reasonable if you want a device That is multi coin and cross chain in theory Is to have a dedicated like device like a like a laptop or even a phone that doesn't do anything else, but except and send out crypto um I like the idea of it being hooked up to a Router that does not directly connect to your modem. So like anything that goes on the router Like erases and it doesn't go to your modem and the router can also have a built-in vpm Um, so it kind of like gives you a couple layers of protection Um, but that's that's a reasonable alternative because there's a lot of things where on bitcoin it exists We can randomly generate your keys and There's actually better wallets then for things like ethereum and stuff like that on bitcoin But if you want something that's like like a ledger that's like cross platform and stuff like that Then it's a little tough to replace that. That's the best alternative. I've seen right to be honest Any of the other wallets like I don't really like them. I'm gonna be honest with you guys So, yeah, what about you jay? Yeah, same, um, you know, I I still have on there But I think the the the best thing that I can say is even if you're using cold wallets like ledger Is still don't have all your funds on one in one spot So I think that's the biggest key here My problem with most of those wallets is that any way you look at it Somebody still generated those keys, right? The only wallets that I like which mostly exists on bitcoin that you can generate your own keys Just accept bitcoin Other than that if you want to generate your own keys, then you pretty much have to sign up for a hot wallet And if you want to sign up for a hot wallet, then you need to have it on a dedicated device that you don't use for anything else away from the internet most periods of time and probably away from Directly connecting to your modem like those are those are probably the better ways If you do if you do want to be more more secretive secretive But um, yeah the the the the idea of your keys being generated by someone else like that's always going to be In question Yeah, so any of the wallets that you buy pretty much today, they work that way ballet wallet um, you know, somebody's printing those keys ledger even Trezor all those wallets very very few exist where they don't print your keys and Um, both of them I think are on bitcoin Yeah, so um, so yeah, I think I think the the biggest thing I could say is don't don't keep all your crypto in one wallet I think it's the biggest takeaway And I think it's the the safest play Because if one of them something happens to one of them at least all your crypto is not in there So that's that's that would probably be my my best recommendation For that and that's something I've been practicing probably for the past two or three years So, um, yeah, unfortunately if you actually want to custody service, you might as well go with like keys to casa or something um Obviously ledger did this as a play to expand their revenue and subscription, you know base models and stuff like that, but it it definitely the I guess starstruck some people with the the the Realization that they can in fact just have your keys if they just did a firmware update and they can access them And in theory steal your funds, but not that they would However, did you actually we didn't talk about this in the news, but did you see that madam asked? said that if the Government wanted to withhold taxes They would comply if they can get your wallet tracked down. Did you see that wow? No, I didn't I didn't see that Yeah, yeah, I um, I actually this is what I'm saying like the stuff that's actually like hot That like should be spoken about like it's getting like like covered and like buried. Yeah, that um That I saw like yesterday So like madam asked if the government's like hey this person owes us money and they can track you down and like Because they collect IP addresses, right? So anytime you use your metamask, they can tell who you are based off your IP address um, and they can You know do as they please pretty much That's wild Yeah, that that is wild. So Be careful guys pay your taxes All right guys, so um, it's two o'clock. So we've now been live for over an hour We're going to wrap things up here. Thank you guys everybody for tuning in. Thank you guys for those who sent in questions Um, and everyone who who stayed till the end. I appreciate you guys. Uh, we're gonna be live again Next monday. We do this every single monday kind of Try to just kind of an overview of the entire market the price and use An analysis. So um, and then we do live Q&A at the end as always So I hope you guys enjoyed it. Um any final words queen? No, I think we're good. See you guys next time and uh Send us your questions in advance because we we definitely can't collect questions throughout the week if you guys have any I know jay sometimes you put them in your Instagram stories, but yeah, so feel free to ask us questions guys, but cheers. Take care Awesome. See you guys on the next one as always peace and love