 And we are alive. What is going on? Ladies and gentlemen, how is everybody doing? Happy Monday today is the 17th of April 2023. It's about 1 o'clock p.m. Eastern Standard Time and Bitcoin's currently sitting at 29,000 about five hundred dollars today We're gonna be covering a lot of stuff with the price. What's going on with? possible and possible outseason happening right now, maybe a little mini one and And and you know the latest crypto news that's going on in the crypto world over the last few days or so Today with me. I have my co-host the Bitcoin Queen. How you doing Bitcoin Queen? Pretty good can't complain. It's been a eventful week. So I'm excited to dive in Yes for sure So let's go ahead and not waste any more time and let's dive right into what we're gonna be covering today The first thing we're gonna start off like always is bitcoins price. Where is it right now? As you guys can see twenty nine thousand four hundred and eighty one dollars to be exact as of this recording, right? So we are down a bit today. We're down almost three percent It's starting the day the day started off, you know kind of Above thirty thousand and we've dropped below it. We did end up the week We closed above thirty thousand for the first time since May of last year So eleven months since we've closed above thirty thousand dollars for the week And now we're just kind of ranging here. I'm not I'm not surprised I'm expecting to see a little bit of range here be anywhere between like twenty eight thousand to thirty thirty one thousand dollars I wouldn't be surprised to see that over the next couple of weeks Because there's no real big catalyst that we're gonna be coming across in the in the until The third of May and we'll talk a little bit more about that when we get into the economic calendar but let's take a look at Ethereum as we know if they're in my last week had an incredible run it broke above two thousand dollars for the first time also since May and Actually went up as high as twenty one twenty one hundred and forty six dollars Yesterday, so So it set up a new a new higher high not only new higher higher, but a new high recent high That's the highest that it's been priced again in eleven months just like Bitcoin. So Right now it's having a little bit of a pullback Down almost two percent But it's been definitely been outperforming Bitcoin and Because of that we've seen outcoins recently in the last week or so begin to also rally and outperform Bitcoin so we're gonna we're not also we're gonna take a look at that Right now. Let's look at the overall market here You can see if we look over the last 24 hours We have a little bit of a pullback But we do see a run-up in avalanche up over 8% here in the last 24 hours up over 17% in the last week And if we keep going down, we'll see kind of more of the same a lot of red today Due to this pullback currently If we go here and take a look at the top gainers and top losers over the last seven days in the top 100 Market cap you can see the number one spot in the last seven days goes to Radix or radix not sure exactly how it's pronounced, but it's up 70% in the last seven days And the biggest loser right now is Casper down 17% in the last seven days So, you know a couple things to to to keep an eye on Some others that have been performing really well over the last seven days Arbitrum it finally started to to move up again. It's up at 162 right now It's up 37% over the last seven days We have rocket pool. That's one that's been popping up a lot recently I know I know I've been hearing about it a lot recently. We have ok B, which is an exchange token for I think it's ok X It's up 27.8 percent. We have Salana Salana coming alive again up over 21 percent Avalanche like we just spoke about up 19 percent We have the graph which is an AI AI related project 15.5 percent phantom showing some life again So we even have near protocol and chain leak here Cardinals up here So we've had a lot of different out coins once again begin to make that run up begin to to move up and Really outperform Bitcoin there. So Well, we'll get a little bit more into that when we get into the analysis part of today's live stream But first I just wanted to kind of take a look at what was going on in the overall market today So let's let's jump into the economic calendar here The next thing I want to look at and if we look at the economic calendar for this week nothing really big pops up We have a couple people from the Fed speaking so that can you know bring a little bit of volatility I don't expect anything crazy Other than that If we just continue going down we have on the 26 durable goods Those those reports are coming out and again, I don't think that'll that'll impact any You know create volatility too much volatility in the market. Maybe on April 27th We have the GDP growth rate if that's something that's you know Underwhelming or overwhelming could create some volatility within the market So maybe that's the biggest thing to keep an eye on for the remainder of the month And then the the next really big thing that we have coming out is not going to be until the 3rd of May which is right here Wednesday May 3rd We have the Fed interest rate decision and the Fed press conference there So that's at 2 and 2 30 p.m. Eastern Standard Time on the 3rd of May. That's the next big catalyst That's gonna probably bring Volatility once again into the market and it'll be a catalyst to you know make or break a Resistance or support zone. So that's the next really big thing we have to keep an eye on Yeah, that's pretty much it as far as the economic calendar, so kind of boring compared to last week, right? and as far as the Fed rate decisions right now the market is anticipating a rate hike of 85 basis points once again, there's an 88% chance right now That that's what's gonna happen. So the probabilities at 88% right now, but but yeah, that's pretty much it Let's jump into some news And I'm gonna let Bitcoin Queen take it away with the news Alrighty so Can you see me okay? I know my camera was turning. Yeah, I see you turned off. Yep. Okay, great. So Let's talk a little bit about the news One thing that is kind of but I've been seeing it on Twitter recently Around the unstaking and staking of ethereum. I'll kind of just say this one off the rig because I just thought again come up on my feed so pretty much with a lot of people that are I guess not happy slash worried has slash Part of the Mindset that ethereum staking is a security risk And this is very simply put because when you do staking ethereum and you do Basically like broadcast to the network. It uses your IP address So basically you need to reveal your IP address to the network in order to stake And unsteak your coins. So a lot of people that's been the buzz this morning within the ethereum community A lot of people are saying that's a security risk Of course, some people use things like VPNs that help, you know mask, but I don't know how VPN direct In particularly with the network and whether or not that is a thing There are some services that you can't really use VPNs with like for example streaming services So I don't know how ethereum handles that but it's just a hot take in the news this morning Other than that, let's talk a little bit about what's going on in government. So the sec chairman Gary Gensler has been under fire recently Newest news that came out this morning was actually things like Algorand dash OMG coin they have all been deemed as securities And the reason that they've been deemed securities is because they advertised Their sale of tokens now interestingly enough Gary Gensler is out of MIT as we some of us know and So is Algorand so there's actually clips of him online Circulating on Twitter of him talking about Algorand and promoting Algorand and You know here the SEC is slapping Algo with hey, you're a security So the joke right now online is is Gary Gensler gonna get hit with the same 1.26 a million dollar fine Kim Kardashian did Yeah, he's he's been under fire this past week There's a been actually congressman and even Hester Pierce has called him out in the past Basically, they would like to replace Gary Gensler is there's a bill going around in office right now to replace the chairman of the SEC with a executive director role instead Basically to reduce the power I guess that the chairman has or think he has a Lot of people believe that Gary Gensler's has been like Overstepping his rule especially when it comes to the crypto space in general. So He is facing some scrutiny there We'll see what happens basically executive director instead of just you know being the head honcho would Be would Report to the board and then the board would choose these issues I guess amongst themselves instead of you know, the one guy is saying this is what we're gonna do and that's it So Yeah, let's see. Let's see what happens with Gary. Have you seen any hot takes with Gary recently jay? Hey, I don't know if you if you follow him on uh on twitter, but he posts some really cringy videos sometimes I don't know if you've seen any of those I've seen I have seen the steak one. Yes talking about baking. Oh my god That was I saw the one when when Kim Kardashian got in trouble And he was like celebrity endorsements blah blah blah um, yeah Yeah, I saw I I've seen his those are literally the cringiest most corny Videos and they try so hard to make it funny and it's not Oh man, it's not great. Oh, it's so bad. But um, but nobody nobody wants the guy who's supposed to be like you know telling them how to I guess Be safe with their money Be funny and it's just not a good look. Yeah, and uh, but yeah, I mean overall, he's he's He's definitely I remember when he first came in to uh, to sec that they're that he was he had Like giving a pro. Well, I don't know if it was pro crypto, but he had given courses on crypto So the whole crypto community was like, oh my god, like this is gonna be Great for crypto. No, and it's literally pretty much. It's been the complete opposite man. It's it's crazy. Uh, I don't know. I don't know how far that bill will go. But uh, that's interesting to see what's going on with that Yeah, no pretty much and this is why people are like get this guy out of here. You know, he doesn't know what they're He's doing. Um, they're also scrutinizing him because he had very little to say Uh, during the ftx same bank with a free case Um, he didn't have much to say but he sure did endorse and uh, advise him In the some situation. So it's it's quite interesting to see what's playing out. Um, there's definitely some fire under this guy's seat right now and uh Well, um, we will see what happens. I don't necessarily know what it takes to switch out the sec chairman but Time will tell So other than that Actually, it just piggybacking off ftx. So ftx has supposedly recovered 7.3 billion dollars in assets And it's planning to relaunch They are reconsidering relaunching the ftx exchange in the first or second quarter of 2024 So this is a year away. This is not anything that's anytime soon. But um, the new ceo that was put into place I think I had mentioned this last week that they were thinking Uh about doing this or maybe I was talking about it with someone offline, but um, yeah, they I remember when the ceo came in they were he had said something about him Trying to get back to business and you know all this stuff. So I'm not surprised that they are In talks of rebooting the exchange So, you know, we'll see what happens there now with this money that they've accumulated You know whose money is that where is it going? Are you returning it to customers because you're cute You recouped this money, but you recouped it and it belongs to other people like theoretically Uh, so I I'm not sure how they are going to distribute. Um, you know Basically what's been lost. Um, I don't know if they will I don't know do right by the people because that's that's pretty much what needs to happen here They need to do right by the people And Yeah, we'll we'll see what happens there Yeah, that's that is wild that um after Everything that's happened and the catastrophe that they've caused in the crypto space that they're Trying to to relaunch like they They they have zero trust. I don't I don't know how that how that's gonna happen I would imagine there would have to be some sort of rebrand probably if they were to do it. Um, I don't know. That's yeah, they have to rebrand I mean, they really have to do like a push they have to get Some sense of insurance or security for deposits like it really needs to be Uh done properly because otherwise it's just this disaster It's the same thing with Celsius like Celsius was like, hey, we're gonna try to Reboot and relaunch and reconstruct this and that and it's like I would never put my money there again I would never in a million years use their product or service and it's like I don't know how um, you know These people who can have the capacity of successfully driving forward After such things happen, but um, probably something along the lines of rebranding and you know, again insurance business models Something something needs to happen there because it's not uh, it's not great Yeah, I think that their their priority should not be on trying to relaunch It should be on Getting the customers all their money back. Then after that exactly once they've done all of that Then they can maybe consider Relaunching and and and they can use that look they can use that as look we We didn't know customers lost money. We made sure that we got all their money back So that might be able to build some trust But again, like even if even if all that happens they gave all customers back their funds and And I I wouldn't put my money in there if they you know rebrand it or if they just launched again relaunch whatever Whatever it is. I wouldn't again. I wouldn't put my money in there It's definitely a tough call. Um, and there's a lot of services that are coming out these days. I know I mean exchanges are uh unique in the sense that you can do uh leverage trading and the things of that nature But I mean there's products such as my mask that uh, uh launched I guess a week ago or a recent or they're planning to launch recently Um, they're launching the ability for you to directly Uh purchase cryptocurrencies with your fiat right through their wallet So, you know, I'll I'll wear the point where all you need to do is you know, have a metamask and basically you have an omramp and It's it's gotten pretty Pretty easy to the point where people don't really need to sign up for exchanges Now, I don't know how a lot of these things are doing. I mean they have to have kyc Um to some extent. I'm assuming Uh, if it is metamask now at that point in time, that's a very interesting I guess Yeah, they they needed I don't know. I just I fear for some of these companies getting um I don't want to say I guess interrogated by the government because we're we're falling into You know very fine lines with the sec. I I guess something I didn't mention is you know defy Defy supposedly is going to fall within the sec's jurisdiction now. Um, or so they're so they're trying to update the meaning of an exchange and what it means to be an exchange that is overseed by the sec So because of this they're trying to do anything that's decentralized finance To fall under they're rolling and it's it's kind of insane Um, it basically negates everything. Uh, we've been building in terms of having decentralized finance And not needing, you know all this information to you know transact. So Uh, yeah, I mean it's it's it's kind of wild And for metamask, all you need to do on board is basically a credit card a debit card A ch wire even paypal So they I mean, I guess they will be collecting some sense of information there, but um, you know the more the The sec tries to scrutinize these crypto currencies and say those security The more of a gray area we start operating in when it comes to stuff like this and it's it's a little freaky Yeah, 100% Um That's that's wild. I'm gonna have to test it out because I I'm also curious as to you know What information are they gonna require from you in order to make those because I remember I've used I've used exchanges before where you know, there's no KYC or anything like that required But if like as long as you were just like trading within the app But then if you tried to to on rent from fiat to crypto Then they started asking you for for more information Um, so I I'm pretty sure. Yeah, of course So then then you're you're basically pegging yourself to a geography I mean like theoretically if you are somebody who's Within the us, um, you can be here on vacation. You can be Here, you know on a layover Um, they don't know, you know, just because you're accessing an app from the us doesn't mean that you are in fact a US citizen, um, but when you're on ramping in usd That is a different story. So Yeah, it's uh I'm interested to see because I mean if they don't ask for anything, uh, I Will be extremely surprised and it will be very sad if the government's like, hey, men of mask You mess up because it like it's it's just one of those things like they're they're right now They're getting a lot of exchanges, um for not having money transmitter licenses Um, that is something that exchanges that you know, didn't pick up a lot of this information or have these crypto on ramps without Having some of these things in place. That's what they're getting them for they're hitting them with Hey, you didn't have a money money transmitters license. So, um, you know, you violated our blah blah blah So I don't know interested in seeing how it works Um, I guess the only uh bad part is if you once you do start, you know Connecting your metamask to like a bank account or something you're basically doxing yourself Um, so it's definitely something that you need to think about before you do and or create a new wallet or you know If that is a concern, um, I would I would Think twice about how you start functioning Yeah, for sure Um, and and the last thing uh, that I think we're gonna cover is well, salana's been on a uh, It's been on a rally recently. What's what's going on with salana? Salana Oh, have they been have they been up in all coin season? Have they been doing good? Yeah. Yeah, they so they recently I think they were up. I mean after you go so low you you got to go somewhere, right? Right, right So I think it's currently trading around 25 dollars. They might have hit 26 last night. Um, But yeah, but it yeah, but it's up like 20 percent in the last week All right. Well, it's not too bad. So I mean salana is basically finally, um rolling out their phone Now a couple months ago We saw that a lot of those salana spaces had shut down specifically the one in windwood and miami had shut down I'm not sure about the one in new york The purpose of those spaces was basically to sell these consumer goods to the public. Um, and With that being said, I guess their mobile phone saga is finally here It's ready for pre-order this month as of the 20th of april And I think it officially rolls out, uh, may And I will tell you exactly what day in may If I can find it here Ooh, momentum poor favor But yeah, I guess I guess the salana boys are going to get to use their phones. Um, I mean the the point of this phone is to have It's a crypto friendly mobile phone It's kind of honestly the way it's built reminds me of how samsung had um at some point in times like you could have your your samsung A private keys stored like within your device Uh, so it's supposed it's android based. It's web 3 enabled Whatever that means in my mind It's just going to be like like have you ever used metamask as an app Um, and it has like the dapp web and all that stuff that that that is what my brain says this will be life I'll have to find someone with this phone because um, you know, I'm not sure how much they're selling it for but I'm assuming it's it's not for a little bit. Yeah, it's a thousand dollars. It's a thousand dollars. Um, Yeah, so so basically I think it's may 8th. I think I saw yeah may 8th is is when it'll be On sale to the public. So pre-order as of the 20th on may 8th It will be on order for the public which is cool, but Yeah, it's uh, it has a pretty good amount of storage 512 gigabytes. Um, it has two back cameras I wonder how good they are I mean, I feel like you can't you can't drop a thousand dollar phone and have a crappy camera It's not gonna work. Um, yeah, they have to be able to compete Rolls out, um and for an operating system. Yeah, it's not too bad Uh, so it's at least it's connected to you know, your google and all those play stores and all that stuff So it could be worse. Uh, but yeah, let's let's see how it I guess Hangs on compared to all the other smartphone devices that exist. Um, I remember that I think it was htc Was trying to drop. I think it was like exodus. It was like a they were trying to like make this You know crypto friendly phone and I don't even know what happened to that It like kind of just came and went I don't even I don't even know if they released it, but there's been a lot of, uh, I guess ways of people trying to push, uh, this idea of smart devices Um in comparison to like the ledger and all this stuff in like a smartphone. This is definitely not the first time we're seeing this Um, there's a lot of people skeptical about the private keys and how it works with these cell phones and whether or not your private keys are actually your private keys Uh, I'm wondering if these cell phones have built-in wallets and whether or not the wallets, um, you know, like where is this stuff kept? They probably have a similar process something kind of to like ledger Yeah, so assuming where it's kind of like pre-made pre Built. Yeah. So the way that it's set up. It's like having a ledger within your phone So your your wallet your wallet is not Um, part of like the software your water your your wallet is part of the hardware So there's a disconnect so that it won't Get hacked so that you can't get hacked type of thing So, um, and then in in in order to use the your wallet you have, um You have to sign transactions using your fingerprint So, um, so it's pretty cool. Um, also you can you can just go onto like, uh onto the the defi apps basically, um Without having to connect your wallet every time Um, you just have all you have to do it again use your your fingerprint to to log on Um, you're gonna have a uh, I think theoretically this sounds a little dangerous. Um Because if I see somebody with this phone, I'm going to assume that They have crypto on that phone and and not and not a little crypto Yeah, exactly. Like there's people who have gotten, uh robbed in countries, uh, You know just by wearing like a mutant ape shirt I've had friends who have gotten jumped and if somebody is aware of this device they can be like Oh snap that person has a salona phone So so let's go get them, you know, like it's it's almost like strange It's like wearing a ledger around your neck, but you're I mean, it's your phone like like I mean you have to have it, you know, cased and It's it's something I don't really want to do like the idea of having your private keys is to have them away And at home and like your wallet away Um to be able to literally like it kind of like goes back to the problem of a hot wallet Um, and I mean you might as well just keep all your money on a hot wallet If you're gonna buy a phone that you're gonna walk around with that you You know pray to god you don't lose it. It just seems like not the thing you want to do to be completely honest. Um The idea of having a device that's Home locked away and you know, maybe have like a 2fa or something with it seems much more practical than walking around with you know 30 40 50 thousand dollars on your cell phone If not more it it just seems crazy Yeah, I I definitely agree Because if you have this phone it seems crazy if you have this phone, obviously You don't just have a thousand dollars in crypto like, um, I'm thinking I'm thinking if if you're if you're willing to invest in something like this and you probably have Uh a lot more than that. So, um, I mean it's gonna be interesting and and and I think it'll be interesting to see how it develops You know going forward. Um, but I'll be I'll be watching I'll be looking for reviews and seeing how it works and all that I think I think it's an interesting concept. Um We'll we'll see how we'll see how it works Yeah, I'm I'm gonna say nag me because I just um, I don't see it. I don't see it for the purpose of security It's just like a really Really bad security option to have um Like you really you really like ideally you Oh, I don't know. I think she got disconnected or something She left the call Are you back? There you are This court hates me. It just keeps ending the calls like On purpose Anyways, um, yeah, just bad security risk overall I I don't think I don't think it was a good idea to begin with. I don't know who thought this was gonna be a good idea Okay, anyways, anyways, uh, the last thing that I that I just remembered I had added here. Uh, something that happened today bitrix received a well's notice um from the sec for violating investor protection laws. So, um Not surprised. Yeah going after everyone. Yeah, so it started to wind down into operations in the united states pretty recently And now we know why Um, and and I remember when when I actually first started Getting into crypto bitrix was that was actually one of the first exchanges that I Used to get into out coins Um back then there weren't a lot of options and bitrix is one of the one of the The you know, the best options at the time Um to get into into a lot of different out coins. Um So, uh, even though I haven't I don't use it and I haven't used it in a while It is uh, it is sad to see, you know, uh, I don't I don't know. Did you ever use bitrix? Um, I don't think I did to be honest. No, no, I don't think I did and And it's probably why because they were just like Yeah, I think finance was pretty much my first Go-to When I got into crypto because I got I got in a little later. Um in 2017 the first time I tried to buy I think it was bitcoin was 2015 and like my big was like no, yeah It was just like no, no, you can't get this. Um And then after that like I just pretty much forgot about it until like that bull run was coming and then I was just like, oh, what's this? Yeah, um, yeah, but then finance and all those were around so yeah The first time I tried to buy crypto was probably back in like 2013 Um, and I couldn't I wasn't able to buy it and I couldn't figure it out And I got like frustrated and I was just like forget this, you know And then I just I never I didn't end up buying and then I was able to buy In 2015 or 2016 in that range. Um, I I was able to get uh, I think bitcoin was at like five or six hundred dollars during that time when I first was able to actually buy Um, but I didn't again. I didn't really do too much. I didn't put a lot of money into it It's just something that it just I kind of left in there by mistake to be honest I was I had to buy bitcoin in order to um Back then you couldn't really legally I guess Bet on sports and stuff in the u.s. So you had to do it through crypto. So that's that's how I was moving the money Um, and I left some in the wallet and then like a year later I go I go to like delete the app. It was coinbase I go to delete coinbase and I saw that I had like $2,000 in there or something like that And I was like $2,000. I was like, where did this money come from? And it was that I had left like one or two I don't know a few hundred bucks and it turned into $2,000 and I was like, what? So, um, that's when I really got into crypto and started like basically obsessing over it and uh, and and during that time when I got into outcoins Bitrex was one of the the the main exchanges to tell them to get their coins together because there is a problem And they might be hacked and stolen. Um, so just security risk security risk red flag. Oh All right, so So, uh, so let's jump into uh, the next section here that I want to let's let's go ahead and jump into We're at the halfway mark. So let's jump into our bitcoin price analysis. Um, we're going to talk about the weekly clothes Um, current support and resistance levels Um, some possible bullish scenarios possible bearish scenarios and exactly how I'm looking to play this week We're also going to talk about the main thing we're going to be talking about. Um, today during this section is Uh bitcoin dominance and out season So, uh, two of the biggest topics going on right now in the crypto space if you've been listening to either traders or crypto twitter where people are just always talking things, you know, um Yeah, so that's what that's what we're going to jump into today. So so let's go ahead and jump right in. Um As you guys know, first, let's let's take a look at the price of bitcoin Um, since we went live the price of bitcoin has been going up. I think we have something to do with it if I'm being honest Um, I I think we're pumping up the price because when we first got on When we first got on the price was 29, uh, 400 I think it might have even been the low 400 when we first started and now it's at above 29, 500 I think we have something to do with it. So you're welcome For you guys if you're listening if you're watching this live right now Um, what we do this every monday. So if you want to catch the pump every monday when we go live Make sure to tune in anyways, um right now. So let's let's start off with the weekly, um on the weekly chart here So as you guys see last week, we had another green week. Uh, we went up over 7 percent and we're starting to see, uh Basically it's a pattern here. We can see that we have this one big candle, right? Um, and then before that we had three Doji candles basically indecisive candles and then and one big candle after that Then uh, then before that we had three red candles and one big candle Then we had three, you know, two red one green and then two big ones. So Just so you know, these big green candles that we've seen basically once a month Has been every time, uh, we get the cpi report. So the cpi report has been Basically helping to pump the price of bitcoin has been, you know, one of one of the catalysts that's been helping pump the price of bitcoin here Um this year every every time we've gotten one of these big green candles. It's been due to um to The inflation data inflation going down People hoping that interest rate hikes are gonna stop or pause or get lowered or whatever the case has been And um, and that's that's what's helped, you know, um, the overall markets to pump up during, you know, once once a month basically So that's why um, you know, when we open the show we're talking about We don't there's nothing big again until may So we could potentially see another three weeks Two to three weeks of this right here where price is just kind of ranging, right? So you you saw here for three weeks straight price ranged between at this point was between 26,000 to 29,000 right for three weeks straight I wouldn't be surprised if if the next three weeks we range anywhere between 28,000 to 30 Maybe even push it up to 32,000. I wouldn't be surprised Um, another thing that we're watching here That's also a that's a resistance here other than the obvious red box resistance that I drew here for you guys That we're currently at the end of by the way If we can just break above this We can potentially really see that opening up to uh to like that 36,000 range that I've been speaking about there But other than that Right, we have this resistance here this this uh, you see this trend line here and this began back in january beginning of the year Um, and it's actually if if we go to the daily here, we can see a little bit more clearer It's as we've been moving up We've been basically uh stopped by that trend line. You can see it happened here Then we went down we set up we set up a new higher high We dropped we went back up set up a new higher high and and guess where we got stopped right at that trend line Right, then we dropped back down then we just this recent move up We moved up got stopped again by the same trend line. That's a resistance Um, and now uh in the last week when we moved up, guess what we just hit We hit that same trend line that's been that's that dynamic resistance line That has continued and kind of guided Um, the the way for bitcoin over these last few months So, um, there is a potential here that we drop back down set up a higher low here Right around around 28 to 29 thousand dollars and then in the next coming weeks, you know, if we stretch this out um, we can see something potentially where uh, we just kind of continue following this trend line, right And uh, eventually it's going to lead us up here to to that 36 thousand dollar range that we've been speaking about for a little bit But um, but that's something that we're watching you know Together with this big resistance that we're at right now. We also have this one right here that we're watching So um, just something something to watch right now. Now the next thing that that uh, Wanted to to look at was bitcoin's dominance. So if you don't know Bitcoin dominance has a lot to do and basically everything to do Without season because if you don't know what bitcoin dominance is is the the Market share in the entire cryptocurrency Space right so it it's you know, instead of thinking it as bitcoin dominance Just think of it as bitcoin's market share in crypto So right now that number is at 46.92. So all that means is that 46 Oh, I I think I got disconnected for a second there. I'm not sure what happened with obs um, but uh If we look back to 2021 we can see this resistance that bitcoin's dominance has hit Basically for the last two years where every time we've run into this number Which is sits right around between 48 to 49 percent Um bitcoin's dominance has at that point fallen and what happens every time that bitcoin's dominance falls Well, it depends. So during a bull market if bitcoin's dominance falls that means that um Outcoins uh, dominance goes up, right? So that means that money is flowing out of bitcoin into outcoins and that's what creates that out season So now in a bear market, you can't it doesn't it's it's not the same because if bitcoin's dominance is falling but at the same time overall prices for uh Crypto is falling that means that that bit that not only is money going out of bitcoin But it's going out of crypto period, right? It's not flowing. It's not going out of bitcoin into outcoins It's going out of bitcoin into fiat. So when I if we look back in may, um when when, um Basically the entire market just tanked right a lot of that was money going out of bitcoin into fiat not really into Uh into crypto. So uh, if we look at the total market cap, uh, Bitcoin here We can see it and I continue. I'm not I don't know what's going on, but I continue to get disconnected from obs I don't know if I'm the live stream is disconnecting or not But um, but my obs keeps telling me that I was disconnected and reconnected. I don't know what's going on with that But um, yeah, I think I think it just keeps dropping me for some reason. I think some in the call by myself That's the message I keep getting Oh, I think something might be going on with it with my internet. I was having issues earlier today So I don't know if that has anything to do with it, but uh, I don't know Ironically like I hear you, but then it's like you're by yourself. But I'm like, no I don't know. I'll have to look back on the live stream and see if it got cut off or not. Um Because I'm looking at it. It says we're live and there's no way it It hasn't told me anything that we've fallen off. So I'll just keep on chucking But uh, but yeah, so looking looking at the bitcoin dominance if we look at uh, the same date that the That out coins were dropping which was from april 22. So let's look at april 22 Let's see what was happening with bitcoins dominance April or here we go april 22nd, right april April 4th. So you saw bitcoins dominance went up. It shot up So during that time guess what happened to out coins out coins dropped And then now here we see in starting in june Um all the way to august The out coin market cap went up. So if we look at bitcoin dominance dropped, so so it wasn't going out of Oh, not not Okay, now it's i'm reconnected again. I don't know what is going on here um But uh, but if we see at the same date bitcoins dominance in june to august Bitcoins dominance dropped from 48 percent down to 39 percent And if we look at the total crypto market cap excluding bitcoin, it went up during that time So it went up by by 211 billion dollars So that means a bunch of money went into out coins meaning that out coins ran up during that time So um, so that's why it's important to note and to look at bitcoins dominance because it can tell us when An out season is about to trigger right or when out coins are about to rally This could be this is an indicator for it and right now we're at a big resistance in bitcoin dominance So if we fall down here like we've done in the past the last the last one two three times We've ran into this resistance every time it's fallen here. That's either because one um Bit the money was just leaving completely out of crypto But I think that's not going to be the case right now. I think the case would be Money going flowing out of crypto out of bitcoin. I'm sorry into out coins Which is what's been causing if if we look back at the top gainers and losers over the last seven days What's been causing these big rallies in out coins? So again, I don't think we're not in An out season yet Like when when outs when outs start, you know, one two three four ten xing But I do believe we're seeing a little mini Outcoin season. So the same way there's like mini lobster seasons. I don't know if there's anybody that fishes and goes a lobster ring But there's like little mini lobster seasons. Um, I think we're having a little mini Outcoin season right now. Um, I think we this probably continues to drop Especially over the next three weeks until we run into another another catalyst in the beginning of may Um, when we get the fed interest rate decision and the cpi data release again Um, maybe bitcoin's dominance goes back up to retest this but I think for now we might continue to see this Um dropping here for the next few weeks. I wouldn't be surprised if we drop back to around 45 and below So dropping down before below 45 would mean a increase in outs in out coins as long as the money keeps flowing Into the those out coins there. So that's definitely something to watch there for those. Um Now that are trying to catch that those rallies from out coins So and and another thing that that i'm actually doing a video on this week. Let me see if I have it here um so Check this out bitcoin queen. I I basically went back in time um to 2017 2016, I think it was I'm trying to find I don't know where I put the charts here but I I went back in time and what I wanted to do was um I wanted to look at the top 100 coins and basically I wanted I wanted to know how Like how from from the bear market the previous bear market to the top of the previous bull market um, how they performed Right. So so I grabbed a snapshot of the bottom of the bear market in and uh, I think well, this is actually This one in 2017 after the 2017 rally in 2018 I I got the top 100 coins data for the top 100 coins um Took all their prices market cap everything right and then I compared it to the top of 2021 Because I wanted to see what that difference was and and it's crazy. I I don't know where I put the spreadsheet right now I know it's here somewhere But the the results were actually pretty crazy. The main thing that I learned Was that um, the safest option to put your money isn't the top 25 coins Regardless if some top 25 coins fall off um, it showed that it was by far the safest option To put to have your money in there because it outperforms. Um, if if I broke it down into four different Um areas into top 25 2016 50 51 through 75 76 through 100 and top 25 outperformed All of them, right? Even though there were coins that were not in the top 25 in 2018 that at 2021 were in there You know, we didn't count those we only counted what was in the top 25 in 2018 at the bottom of that bear market And even though some of those fell out of the top 25 They still went up in price by a lot and you would have made a lot of money So I think if you would have evenly spread And and again, I can't find the spreadsheet right now. So I'm just kind of ballparking But if you would have evenly spread a thousand dollars Through the top 25 coins and actually just found the spreadsheet while I was saying this um If you would have done an even spread of a thousand dollars in the top 25 coins, you would have had By that by the top of the run you would have had a 486 thousand dollars So, um, let me pull up the sheet right here really quick So so here it is these are the top 10 coins Back in 2018 and their price you see bitcoin was at three thousand dollars XRP was at 36 cents ethereum was at 85 dollars Look at stellar and eos which which are I don't think are anywhere near the top 25 right now But they were in there Litecoin was at 23 dollars bitcoin cash Bitcoin sv was a top coin at the time Tron was there and cardano was it was the 10th one there Um and look at the difference between them between 2018 bear market and the top of 2021 of the bull run So, um, and then you can see the percentage change here with the biggest one being uh cardano went up over 6 000 The second biggest one was ethereum over 5 000 percent Um, and then again, and I did this all the way down to 100. So you can see here These are the top 100 coins in 2018 And they're and their price change in in uh in 2021 so Out of all that data, you know, if you would have put a thousand dollars in each in each of them Uh, this was by far the biggest return on your investment here And you can see out of the top 25 zero of those projects went to zero So none of them busted, but then once you start going into 26 through 50 and beyond You can see that seven of those busted one to zero or one to zero or went negative throughout that time 51 through 75 again another seven either went to zero or or went negative And 76 through 100 the further back you go the more projects bust So nine projects either went to zero or ended up negative Um, and the the biggest return by far was the top 25. So Again, I this is something that that we always say but stick to the safe coins a big project So ones that are trustworthy, right? Um, and it basically all goes back to that. Um, I'll be doing a full video on this this week. Um, You know, I did all the data and research last week. So I'll be I'll be recording it this week Um, now to end it. Um, lastly, I want to talk about what I'm doing this week In the market. Um, right now I I'm just sitting right. I'm sitting tight. Um, I'm just gonna See what happened duck. What happened You're sitting duck. Yeah. Well, not a sitting duck because sitting duck gets shot, right and dies So I'm not I wouldn't say I'm a sitting duck. I'm just sitting tight. Um, I'm sitting on my hands, right? I'm doing nothing disconnected again and now I'm reconnected again If we go above 30 Then I might take some scalps in that range But nothing crazy. I'm gonna have very low risk there. Um, below 29 is where I would put a little bit more risk on To buy that dip because it's it's only a matter of time before we start continue upwards. I think Um, and and still, you know, I spoke about it a few weeks ago And we still have that bearish divergence, right? If if we look here at uh at the indicators, let's look up rsi really quickly Um, so if we look at this and we draw trend lines, right? So the trend in the rsi is still to the downside while the trend on the price is to the upside Creating that bearish divergence. So we're we're still seeing that bearish divergence Um, so there has to be a pullback at some point, right? Um, so at this point, we're just kind of waiting. This might be the time that these next three weeks It might be when we see start seeing some sort of pullback. Um, you know, how far down we're gonna go. I'm not sure Um, so I'm just gonna kind of sit tight and and see what happens throughout this week. Um, and It's probably gonna be a safer bet for you probably to stay out of the market um, the next couple weeks Until we start getting some more volatility back in the market. So That's kind of what i'm doing. That's kind of where my heads at right now for this week Of course things can change depending what news might come out or what price does, you know From here on out for the rest of the week So, uh, you can you can uh follow me on my socials bitcoin.daily if you aren't already doing so Where I'm usually updating throughout the week if I see anything that changes So, um, that's pretty much it as far as that, um, if you guys I want to go into do some q&a right now So if you guys have any questions for me or the bitcoin queen Drop it in the comments section and we'll be more than happy to to answer those for you. Um But uh, but yeah, what do you think about? um Everything that I just went over Well, there is a 30 chance my video is going to disconnect in a minute because it's done 20 000 times um So I will say that I think Overall, uh, safe call. I think we are going into an all point season. Um, it looks like avax was rallying this morning And a couple other currencies as well Uh, so it's it's a good time to start looking into your bitcoin alternatives if you are into that If not, um, sit tight and just keep accumulating your stack I actually added uh today to some of my positions as you guys know, I like I like to add at least once a week um And usually I add I wait for a day like today when prices are down Then I just I dollar cost average into some of my favorite projects. Um, You know, that so I did some of that today. I added to some of my positions um Did you have you added recently to any any of your favorite bags? Honestly, I've been buying just buying mostly bitcoin. I bought a little at ethereum, but mostly bitcoin. Um, I haven't bought in any All coins. I'll have to check to see what I had. I had things like, uh optimism and some of the other layers who's um kind of sitting In my bag a little bit, but dust of things I've been accumulating some ckb if anybody knows what ckb is It stands for common knowledge base. It's nervous Uh cryptocurrency which um, I like the ethos of the project. I'm a big fan of it. So That has been most of my all coin accumulating Yeah, so so I got disconnected again Yeah, it's it's pretty usual. No, it keeps doing that. Yeah It's weird because discord says you're I'm literally talking to myself and I'm all alone and It's making me sad. I don't know why it doesn't like me Yeah, so um, I guess on that note, let's wrap it up. Um before we get disconnected again Uh, hopefully next next our next live stream is a lot better I'm not sure what's going on today with I don't know if it's the internet if it's youtube if it's obs if it's discord There's so many moving variants Um moving parts, right? So, um, yeah, yeah, it's cool I'm getting texts from my friend the same that the congress is gonna fire gary ginsler. So Let's see what happens throughout the week Yeah, so um, so again, thank you guys for tuning in. Um, you know, we pretty I think we pretty much covered everything We wanted to talk about we did the price updates economic calendar for the week news updates Market analysis and the only thing we didn't do was a q&a, but I didn't I didn't see any questions come in And before we disconnect again, you know, I want to make sure that we're able to wrap this up So, uh, again, thank you guys. Um, we'll we'll be here again next monday every monday 1 p.m. Eastern standard time Doing the same exact thing make sure to bring your questions for next one. Um, so we can do a q&a Thanks again guys. Uh, any any final words? Uh, keep stacking and and we will see you next week. This is not financial advice. Do your own research Peace out homies. There you go. Peace and love