 Welcome to another episode of Let's Talk Crypto. I am your host, Bitcoin Jay, and I am with my co-host, the BTC Queen. BTC Queen, how are you doing on this beautiful, kind of stormy looking Monday afternoon? It is great. I watched the Barbie movie over the weekend, which is amazing. Oh yeah. Highly recommend this. What was that? How was it? You know, it was, so it was pretty good. I think a lot of people are under the impression it's like, you know, it's like a Barbie, but it's like, it really talks about like the messages in society, like from like a misogynistic view, which is like quite interesting. So it's insightful, I'd say. It's a cute movie. I'd recommend it. Okay, so it's a Woke Ken, is that what it is? Woke Ken, that's actually what ends up happening. So it's like funny because like you think of Barbie and like it's like, I guess there's a lot of like live action movies that come out and like it's like stuff around the multiverse, right? So it's someone else's universe inter twinkling with like our universe, kind of like Marvel or, you know, I guess pretty much every movie that they make, Rick and Morty, like all this multiverse stuff, right? So if you put it in that perspective and you think about Barbie, which is all women, and then in reality, it's like everything's right by men. So it's like a stark contrast. So it's like, yeah, if you just have like that perspective, it's just like, oh, okay, I see where this is going. Nice, nice. So that's cool. Other than that, Perk didn't do too much during the week, you know, we're all still alive and nothing's on fire. Yep, yep. So yeah, over the weekend, not much happened. However, this morning, Bitcoin did take a tumble this morning and it went under $29,000 for the first time since last month. So it's really, it's not that long, but we have been trading in a range for a while. So in today's episode, we're definitely going to be talking about that, the price, what's going on. We're going to do an analysis on it as we usually do. Then we're also, we're also going to cover the economic calendar for the week. So this week, as you guys know, we have something big going on Wednesday that is definitely going to affect the markets. So we'll get our outlook on that. We'll go over the news with the BTC Queen and then at the end of it, of course, we're going to do a Q&A. So if you guys are tuning in or tuned in right now while we're doing this live, drop your questions in the comments and at the end of this, at the end of the stream, we're going to go ahead and answer some of those questions for those, you know, if you're listening to this now after the fact and just sit back, relax and enjoy the show. So let's go ahead and jump right into it. The first thing is let's look at the price. The current price on Bitcoin right now is sitting at $29,082. So definitely, we've definitely had a drop here as you guys can see this morning. So this happened between four to eight a.m. Eastern Standard Time this morning. We had basically a 2% drop and then after that at eight a.m. it continued lower and right now it's just kind of been sitting at that 29,000 support. So the low right now is $28,871. That is the lowest we've gone today. So let's take a look at the rest of the market and see how the rest of the market is performing. I assume everything is going to be following, right? So if we look here over the last seven days, well over the last 24 hours, we can see that basically everything is in the red except Doge. So Dogecoin is still up in the last 24 hours over 2% and I think that has to do with Elon Musk and Twitter, I wanna say. We have Salanas down about 6% and pretty much everything is in the red other than Dogecoin, everything else as we just kind of go down is in the red in the last 24 hours. If we look at the top crypto gainers and losers over the last seven days, we see at the number one spot right now we have the XDC network, which is up 63% in the last seven days. Stellar is back, it's up 16% in the last seven days. Casper up 15%, Mantle up 13%. And another one here, Chainlink. Chainlink, it's been a while since it's really moved up 11% over the last seven days. That's good to see. Top losers this week, we have Compound down 16%. We have Rocketpole down 14%. So Rocketpole's been kind of on a losing streak recently here. I think in the last couple of weeks, it's been up here in the top losers. I know it was above $50 at one point and it's currently sitting at $29. We have Bepe still a top five loser down 14% over the last seven days. Multiverse X down 13% and Solana down 13% as well. So let's take a look at the economic calendar for this week. This week is going to be a, I'm expecting volatility. So on Wednesday is when the show begins, right? On Wednesday, July 26th, at 2 p.m. Eastern Standard Time, we have the Fed interest rate decision. And at 2.30 p.m., we have the press conference with Jerome Powell. So right now, as you guys can see the consensus is that there will be another rate hike of 25 basis points. And if we look here at the Fed watch tool, we can see that the probability for a 25 basis point hike is basically 100%. It's at 98.9%. So basically that means that this hike is already priced in. So if the Fed raises it 25 basis points, on Wednesday, I don't expect the market to react too much. What we have to look for is at 2.30 when the press conference begins. Now, the reason why is because remember the market, and I speak about this often, the market likes to kind of be ahead of the curve, right? They like to try to guess what's gonna happen and they like to be right. And for the most part, they are right. Now, it's when they're wrong that you'll see a lot of volatility. So for example, we're expecting basically 99% that there will be a 25 basis point hike. What happens if there's a 50 basis point hike? The market's gonna dump because that's not priced in. What happens if there's another pause and the market's gonna go up because once again, it's not priced in. So that's kind of what we're going to be watching for when this news comes out, right? If it comes out as it's expected, 25 basis point hike, I don't expect too much volatility. Like we might see some movement up and down, but I think the market's probably going to be waiting for the press conference. Now, the press conference is where things get interesting because that's where Jerome Powell's gonna be kind of speaking about why they made the decision to raise the interest rates. And I think they've already, he's spoken about that over the last few weeks, but then he's gonna go into how they see the future. So people are gonna, the market's gonna be looking for indicators on if they're gonna raise interest rates again, right? If in their next meeting, they're gonna do another interest rate hike. So that's where you have to be watching because if there's, and usually they're pointing and they're overly, I feel like they're always overly bearish because they already know that everyone's looking for any excuse to be bullish in the market. And the stock market has been very, very bullish so far over the last few months. So they're trying to slow things down because they don't want investors to start over leveraging and all that. So they're usually overly bearish when they do these press conferences. And so when that happens, things might go down, right? At least in the immediate future. So that's kind of what we're gonna have to be watching for. I expect probably things to potentially go down during the press conference if he signals another rate hike, which they've already signaled. They said that there's gonna be at least two more this year. So this is supposed to be one of them and then they're supposed to be one more. Now we don't know when that last one is supposed to be and if it's gonna happen. But if he does say that, yes, there will be another rate hike in the next month or two months or whatever it is, then the market's gonna try to begin pricing that in. So that's why it's important to kind of pay attention to that. If there's any indications of anything else, then you have to, depending on what it is, the market's gonna try to also, again, price it in regardless of what it is, whether it's bullish or bearish, market tries to get out in front of it basically. So that's what we're gonna be watching for the main thing there. And then other than that, we also have its earnings season, right? So this week we have a few of the big dogs in the stock market that are going to be talking about their earnings and we have Microsoft, we have Google, we have Amazon, Facebook, and Visa. So those are some of the biggest players in the stock market and they're all going to be reporting earnings this week. So you see on the 25th is Microsoft, on the 25th is also Google, then on the 25th is also Visa, on the 26th is Facebook, on the 27th is Amazon. So we gotta pay attention to those because the stock market has a lot of weight in like the S&P 500, the NASDAQ. These companies are usually weighed heavy within those ETFs and depending how the ETFs and how these big companies report is usually how the market does overall. So and as we know, crypto likes to follow the stock market. So that's why we have to kind of pay attention to these companies as well with their earnings report and all that. So that is another thing to keep in mind there for this week. What else do we have here? I think that's pretty much the gist of it. Now we're gonna jump into some news with the BTC Queen and then we are going to do of course our analysis for the market for the price and look for some trade opportunities for this week. So let me pass it on over to the BTC Queen. Hey guys, what is up? All right, so first and foremost, let's start off with some XRP news. As we all predicted, there was a high chance of there being an appeal and it looks like there will be. A lot of lawyers are saying that, there's nothing to worry about. The SEC does believe that the judge made a mistake and really in favor of XRP not being a security, but of course that will come with some repercussions. So there is going to be 99.9% in appeal in play if it hasn't been filed already, which I haven't heard that it has been, but we will see. They are salty. So next thing, what was it? They are salty. They are very salty. I mean, imagine you're going after all these companies and you're at the highest of the chords and you just get shut down. Like it's just not good. It doesn't look good for any of the companies that come behind it. So it's not a good look. We'll see what happens there, but hopefully the verdict sticks because I think that the crypto market needs this one in my opinion. So we all know about OpenAI, which founder Sam, what's his name? What's his last name? Starts with an A. Altman? Sam Altman? Yes, that's it. Yes. So he also is a co-founder for this. I don't know if you've ever seen it, but he used to go around conferences with this globe, this little thing that would scan your retina. It's called a world coin that launched. I believe it was this morning. He came out fresh off the press. They were raising, I remember meeting those guys walking around conferences like for like the past three years now, like it's been a while and they were like pushing this eye scanning retina thing and it was gonna be a thing. And I was like, okay, good luck with that. So supposedly he's one of the co-founders behind that project. And a world coin has launched and apparently is pumping. I don't know how much up I didn't look too much into it, but yeah, I thought that was a little interesting and it's funny because I started hearing about it more and more and it realized that he was behind it. So all his AI hype obviously carried over and like it's probably one of the top stories in crypto this morning because of it. Interestingly enough, now there was rumored that if you guys are familiar with Marlene, she does like astrology, TikToks. A lot of people are saying that that was his sister. There's not information on it. I think it was all fun for the views. I don't think that this person is actually related to each other, but yeah, just wanted to like clear that up there in case anybody was like also wondering and or heard that flood. So yeah, so basically world coin has launched. It is trying to, it's proof of personhood, which basically just we want to prove that you're a human and not a robot, which is funny because they have an AI project, which scares most people. So which by the way, if you guys are having issues with open AI, supposedly they made it dumber last I heard. So I think because a lot of people are freaked out about AI taking over the world, they did some updates to make it politically correct. And I think they did a little too much because now it's quite dumb from what I understand. I haven't used open AI in the past week or so. So I'll have to go check it out, see what kind of responses it spews out. But I heard that it's not doing too hot even with the paid subscription, because they updated the overall model, interestingly enough, which seems strange. I think if we're actually gonna go into this AI world and dive into it, we should embrace it for what it is and censoring things and making it politically correct, I mean, you're just basically feeding a robot information and telling it what to do. It's not like, I guess a singularity of consciousness or whatever you want to call it, but just some thoughts, sip my tea. Anyways, so the Federal Reserve of San Francisco is hiring a crypto architect to help them construct some CVDCs, CVDCs back in the spotlight. That one was interesting, mostly because FedNow has fully rolled out. It was announced to roll out now in July, it finally did a week or two back. They're very gung-ho on pushing payments to go through there with partners and companies that have decided to participate within the FedNow network. Now, they have dismissed the idea that this is in conjunction or to push CVDCs on a federal level. However, there have been a number of bills and things like the Federal Reserve of San Francisco saying like, hey, let's get a crypto architect in here to try to figure some of this stuff out. So things like that tell me otherwise about FedNow that they're not trying to push that. Like maybe that wasn't the initial thought, right? But if now the Fed is actually taking steps to try to implement the CVDCs, like of course, why wouldn't it be done through FedNow? I think most of us expect a full rollout of CVDCs by the year 2025. There are a couple of US representatives that are against the idea of CVDCs and prefer a P2P permissionless payment system, which we already have, that's called cash. The only cash that is, I guess, permissioned is the one that you get from your bank. Otherwise, you can't track cash. You don't know, you get it from somebody, it goes to somebody else and it just is a continuous circle. If it never touches a bank, then that cash has no record. So I don't know exactly what these people are thinking of doing. I think it should just either keep the cash or continue with the full CVDC rollout by the year 2025. In my opinion, I'm not too much of a fan of CVDCs. I just prefer the cash. I think cash works well, it does well for what it is. Cash is very similar to Bitcoin when somebody steals your cash, like somebody steals your keys, you don't get it back. It's, I don't know, it's there, but it exists, cash, money is king last I checked, so. Anyways, other news, there is bills in office revolving around crypto regulations that have been introduced to the Senate. Now, the Senate is now currently reviewing it. There is no announcement and dates for voting or any of that kind of stuff just yet. However, it is intended to discourage and prevent companies such as we see, we saw with FTX happen ever again within our, I guess, jurisdiction, which would be the U.S. So interesting to see, I haven't read through the bill yet. I did read just a couple of articles that I saw that came out on it. I do like to sit down and read these documentations because there's stuff that gets snuck in there, which eventually get passed and approved and it comes back to bite us in the butt. So making sure you guys actually read the full bills if you are, you know, into this kind of stuff and not necessarily relying on, I guess others all the time is a good thing. Or if you have somebody who like, you know, usually reads the bills and you follow them, that's also a good thing. But definitely do not stick to just reading news articles when it comes to this stuff because they sneak stuff in there all the time and it's not great. Yeah, like there was a bill that was passed in Texas which basically was, it wasn't even a bill. It was basically nothing because like it was like a promise pretty much is what they pass and it just didn't make any sense. So more of these things because they get introduced often, we just kind of have to pay attention to them closely as a community because it's gonna affect us in real time. And the last thing we want is for anything to affect, I guess minors, minors are gonna be the number one thing to watch out for. The idea of proposing extra tax implication on mining facilities has been floated around many, many, many times and I think that's probably the number one thing we need to watch out for. There are tons of companies who have mining facilities stocks which are operating very well. If you guys, I don't recommend but I advise for you to look into diversifying your portfolio into traditional stocks and if so look at the mining industry. It's probably set to do some numbers. I don't think there's any mining company out there that has over a billion dollar market cap which if you're a true believer in Bitcoin, you know that will be a multi-billion dollar market cap one day. So it's actually very small caps right now, interestingly enough. So yeah, just there's some tea, there's some alpha for you guys and that is about it. Hopefully the week doesn't get too much crazier than that. You know, I think all season is coming. If I'm not mistaken, I keep seeing all season, all season, all season which usually comes right before Bitcoin. So I don't know, let's see. Come on Jay, tell us what the charts say. Yeah, definitely, definitely. So definitely a lot of things going on, especially with the world coin, I just looked it up and price is currently, it looks like it's down but you know how it is when these coins first come out? Yeah, they launch, they pump and then they dump. People, investors who have been accumulating for the past, you know, however many years they want to get the returns, so. Right, so it looks like initially it went up and then around, it looks like it topped out probably around 3 a.m. and dropped ever since. So I'll be, I'll definitely be watching it to see what happens with this. I don't know how correct this is though because it says that the market cap, it only has like a $2 million market cap. I don't know how correct that is. So I'll be checking in with it in a couple days once we have a little bit more information. Yeah, it's definitely something that's been catching a lot of wind. I don't know, I think a lot of people are, there's definitely like a split crowd when it comes to the project because it does have, I guess, privacy concerns if you think about it because it's literally like scanning your retina. It's scanning your eyeball. These are things that you use for security to get in a facility, clear at the airport if you guys have clear. They use it to expedite TSA. It's basically like scanning your fingerprints. Once you scan your retina and you have like, I don't know, that kind of information on people. I don't know how they store it. I don't know what they're doing with it. Those can be things where, it becomes a privacy concern. And you know, if there's a facility that uses people's retina to prove who they are and somebody gets a retina scan of your eyeballs, who's to say they're not you. And I think those are the questions that are kind of floating around the market right now. Even though it's a very valid piece of technology and it's definitely something that a lot of people, I guess, use, but you know, even like think about it. Like think about, let's think about this on a federal level, right? Like if I'm walking in public and the cops are like looking for me, if their cameras are good enough and they have, you know, all this cash information from this company where they have everybody's, you know, retina scans and eyeballs and stuff, like they could pick it up in public in a second. That's something that China does. They do a lot of facial recognition scans and a lot of like all that kind of stuff. So yeah, things to think about, things to you watch out for, but this is the reality of things. Yeah, my worry is like, what happens when it gets in the wrong hands, right? What can people do with it? That's what I'm saying. That's what I'm saying. And that includes the government, right? And I think the government is usually the wrong hands as history has shown us. So... Yeah, it can be. I mean, I think as long as you stay out of trouble, you should be okay, but, you know, God forbid you end up in the wrong place at the wrong time. You're not your friends anymore. Yeah. Yeah, so that's definitely interesting and the SEC appealing XRP thing is also interesting. I saw Gary, Gary Gensler was very, very salty. He said he was disappointed. Oh, yeah. I don't feel. Yeah, and yeah, I think this is the end of the line for him, hopefully, because once with, because XRP has already been listed now and all the US exchanges at this point, they got re-listed, right? And yeah, it's gonna is, you know, I think what, I saw a platform. What was, what a, one of the platforms that, what was it? Was it Terra? That was saying that their case should be thrown out or something because of this ruling? I don't know. It was... I think there was a comment on Terra. It could have been, it could have been Terra, which, I mean, you know, don't get me wrong. Like, I'm very happy with what happened with XRP for the health of the entire space. However, Terra Luna, I have my own opinions about. Yeah, oh, 100%. 100%. So, yeah. So let's go ahead and jump into the market analysis for today, for this week, really. And remember, after this, we're gonna do a Q&A. I asked on Instagram, so you can either drop your questions on Instagram or you can drop your questions here in the comments. For those of you listening, after the fact, you on Sunday's afternoon, usually, I ask the questions on Instagram. And if you want anything answered, you guys can follow me on Instagram, bitcoin.daily. And on there every Sunday afternoon, I put up questions when you can drop your questions there and then we answer them here on the show. So, with all that said, it is time to jump into the Bitcoin price analysis. Just so you know, ever since we started the show, we are up just a little bit, but the price of Bitcoin is up a little bit. We're under 29,100 when we started the show and we're right about 29,100 right now. So, maybe if we're a little bit more bullish, we'll push that price up just a little bit. We'll see. So, let's go ahead and take a look here at the prices. So, right now, this is a weekly chart. As we can see here, we had the big move up, then we had a basically a falling wave. So, for those that are listening, we had the big move up back in March, right? That was a 26% pump to the upside ended. We ended up topping out at $31,000. Then from April all the way till about June, we basically consolidated in this falling wedge slash bull flag type of thing, type of pattern until we broke out mid June last month, right? For another 15% move up. And after consolidation for about a month where we topped out at about $31,869, for the first time in a month, we were at a new low below $29,000. So, we hit below $29,000 for the first time since that move up. So, what am I seeing here? So, the first thing I'm seeing is that this level right here is a big area, is a Fibonacci retracement area, right? This is a 61.8% area. So, it is definitely an interesting area there. For support, when I look back here into April and May, I can see that this Fibonacci retracement level played as a resistance here. So, I can see that. We can see that in these two months here, in these two weeks, I'm sorry. And if we go a little bit further back, we can also see it on March and around April for about three weeks, we were rejected by that same exact Fibonacci zone. So, that definitely makes this area here interesting to see if price holds up here, right? So, that's the first thing that I am watching here this week. I wanna see how price is going to continue to react here at this Fibonacci retracement level and what happens there. So, that's the first thing I'm watching, right? The next thing is, if we kind of zoom out a bit, we can see that we still have a clear trend, right? We have this clear trend where we set, after we bottomed out down here, then we set up a new high, we set up a higher low, then we set up a higher high, another higher low, and a higher high. So, what I'm expecting, if we do get this continuation and we see further downside, I'm not expecting us to retest this low right here. I'm expecting the structure to stay intact. So, for the structure to stay intact, we basically have to stay above this candle right here, which the bottom of that candle is around 24,750. So, that's the main area that I'm looking for price to stay above. So, how do we do that? Now, the first thing that we're gonna see for some support here is this big trend line, right? So, we've been using this trend line all the way back since we bottomed out last year in November, right? After we bottomed out, we kind of used this trend line, we bounced up, and when we corrected here, back in March, you can see that we got a big bounce at the trend line again, and then we made a new high at 31,000, we corrected again, and we once again, back in June last month, we bounced at the trend line here, moved up, and now we're pulling back again. So, if we continue to pull back, what I'm watching is this level right here. So, this level has two things. One, we have the trend line, right? Two, we have this big range right here. You see this big box, this big green box? For those who can't see it, basically there's a big support level there between 27,000 to 28,000 is basically what I wanna, the area, right? That is crossing path and it's kind of uniting, it's meeting the trend line at 20, basically this level's around $27,000. So, that's gonna be a big level there for support, and if we saw further downside, that's what I would say the bottom of this correction would end up being, and the more time plays out, the more we might be a little bit higher on that, because as you guys can see, the trend line's gonna continue up higher and higher, right? With each week that passes. So, for example, this week, that trend line is sitting around 27,300. Next week, that trend line will be around 27,700, 600. The week after that will be around 28,000, right? So, this week, if we were to see lower prices, 27,000 is the main level that I'm watching. So, that's the main thing right there. Now, a couple other things that I've been watching here, that I've been pointed out to my Discord group today. As far as supporting resistance, for, we know the supports here, 28, we have this Fibonacci retracement, which is at this exact level, 29,000. Beyond that, we have 28,000, which is gonna play as a big support as well. We've seen that play as support and resistance multiple times. And then, of course, this level that we just spoke about, where 27,000 meets, that support level there meets with the trend line. Beyond that is 24,000, 25,000. Now, I don't think that we see that level unless there's something big happens for the price to fall, another $4,000. And which would probably potentially break the current structure. I don't think we break structure. I think we continue with this trend. And that's why I'm eyeing this level here, which is at that $27,000, as a potential bottom there for Bitcoin if we see further downside. Now, to the upside, we have, of course, the levels that we've already seen, $30,000, $31,000, $32,000, right? Those are gonna be the main things that the main whole number levels that you need to know of. When if we get a move back to the upside, all those are gonna play some sort of resistance on the way up. If we look for some, what do you call it, imbalances here, I use that FVG, the fair value gap to look for the imbalances. And we can see, once again, we have some more confidence. Let me move this out of the way really quick. We have a fair value gap all the way down to about $27,000, right? The 50% mark of that imbalance is around $28,000. So those are both two big support areas. Now, why is our imbalances important? Well, usually the price likes to correct and likes to pull back to at least 50% of the imbalance of the fair value gap. If we kind of look back in history, we can see back in March when we had a 26% move, what happened to the price after that? We pulled back, look at where we pulled back, basically the halfway mark, right? Before we continued up higher. So that could be something that we potentially see. Again, if we look further back, we always see the price return to this fair value gap, this imbalance area where there are, and the reason it's an imbalance area is because there are a lot of orders, the price moves so fast up beyond this level that a lot of orders got left behind. So that means that there's liquidity down here. A lot of times, price likes to go down here, pick up that liquidity before continuing up. So if you go back, you can see it over and over and over again, it's something that's very common in all markets, and it happens over and over again. So that's something that we're watching for. That gives us confidence with $28,000 as a support as well as that $27,000 trend line as a support, right? The next thing that I am looking for here is, let's see. So let's look at the chart patterns, right? We saw up here, we had a, it's gonna be this one right here, we had a bearish pin bar. So we had a bearish pin bar there, and then the week after that, which was last week, we had a bullish pin bar. So let's talk about those two really quickly. First, the bearish pin bar was at a resistance level. The bullish pin bar was also at a resistance level. So that gives the bearish pin bar more confluence because there's more reasons that we would think that the price would reverse at these levels back here. So that's why even though we did get last week a bullish pin bar, the week before that, this bearish pin bar was more significant because it was at a resistance, at a big resistance level. So that's something that we were watching there and we did point out this bullish pin bar as well because it was at a support, but the resistance in this area is a lot stronger than the support. So because of that, the bearish one had a lot more confluence on the chart pattern here. What else do we got here? We have as well, let's look at some liquidity levels here to see where there's some potential liquidity. So let's pull up here, this right here and these levels are basically levels where there's potentially a lot of liquidity, right? There's a lot of orders. So here on the, and we're still looking at the weekly timeframe, you can see that up here which is just above the high or just at the high of last week, we have some liquidity there, that's 30.4K. Beyond that, there's really nothing else until we get to the high of the year, the yearly high and that's around 31,900, right? Now to the downside, we do have a lot of liquidity. We have all the way down at 26,260, there's a big level of liquidity there and then the biggest level of liquidity is all the way down here at 24,750. So again, I don't think that we go down that low but in the event that we were to break this trend line, then that's where I think would be our target there at that point. And again, that would, I would say that's a worst case scenario. If something really bad news came out or let's say the SEC won the rolling or the appeal, whatever it was, it has to be some a reason for Bitcoin's price to really drop another $4,000, $5,000, I believe in this current trend, in this current structure. So worst case scenario, I think that would be the target down there, it would be around that $24,000, $25,000 area. So we looked at the imbalances, we looked at the liquidity levels. The last thing we're gonna look for here is the wicks. So another thing that I like to do, that I like to look for when trading is look for wicks. And the reason why is because, again, just like imbalances price likes to return to wicks to fill them, right? It likes to fill wicks the same way it likes to fill imbalances. So we can see that right now we have a big wick to the upside. And the high of it would be, of course, the high of the year, $31,089 in that range. The middle of it, because a lot of times it'll fill at least 50% of the wick, that's sitting around $30,800, which of course is a resistance level. Remember, we've been talking about this resistance level for a while now. And that's exactly just about where the halfway mark of that wick is. So for any upside movement, that's gonna be two targets there that we're looking at to the downside. So last week we left this wick and you can see that this wick has now been completely filled and we just started the week, right? So that's been completely filled. There's really nothing else until you get all the way down here. And once again, this is that $24,000 to $25,000 area. Again, I don't think we come all the way down here, but again, that gives confluence in the event that we lose the trend line as a target, right? The $24,000 to $25,000, if we were to lose this trend line, that's gonna be a major target area there because there's a lot of things going on there. There's a lot of confluence there to make it a target. And that's pretty much it as far as that. So let's look at the daily and four hour charts because now that we understand the overall outlook of what's going on in the market, we understand we know what the trend is, we know where the trend lines are, where the main support resistance areas are, we know where liquidity is, all that, right? So now we're looking for, we're gonna say, okay, so how can we trade these levels, right? How can we make money in the market this week? So remember before, we were just trading within a range. So all we were doing was buying the bottoms, selling the tops, right? So that made life pretty easy. We just had to buy down here, set orders down here and sell when we got up here. Now it's gonna be a little bit different because now we can potentially, we're not gonna be trading in a clear trading range. So because of that, we have to now say, okay, where's the support gonna be where we could potentially grab some longs and where's the resistance gonna be where we potentially be looking to take profits, right? So right now, it's looking like this $29,000 area is a support, right? It's been holding here today and we know it's a previous Fibonacci level. If we look back in history, we can see that it's played as resistance levels plenty of times. So there's a lot of confluence that could hold this up as a support level there. Now, I'm not ready to take a position there yet, especially with the FOMC meeting coming up this week because it comes on Wednesday in two days basically from this recording. I wanna see what happens, right? I wanna see what happens for the rest of today, what happens leading up to it tomorrow and Wednesday and then in the meeting. I don't wanna be caught on the wrong side of the trade here. So I'm most likely just kind of sitting on the sidelines, sitting on my hands for right now until a direction, you know, there's a clear direction of a clear move, right? In one direction or the other. And because this is the first bounce on that support, I still don't feel comfortable looking to take a trade there. So for now, I'm sitting out. Now, if I see a move, let's say tomorrow and Wednesday, price moves down, right? Let's say we get something where, you know, we might bounce here today, then tomorrow we go a little bit lower, retest this as a resistant and then Wednesday, when the meeting happens, we go lower, right? Now what? Now we just hit this trend line. And not only is that the trend line, but this is also a big support area here that we have marked. So now that's potentially a place to take a long position there. So if we get to this range down here, I will potentially be looking for a long position. Now, I'm not just going to, you know, blindly take a position, put an order there and blindly open it up. I'm going to be looking for, you know, chart patterns. I want to see a bullish pin bar or I want to see a bullish engulfing candle. I want to see something that gives me the confirmation that this is support and that we're moving back up. So that's kind of what I'm going to be looking for if I'm looking for a long position. I don't really want to go long at this current, I don't have minor support here. So I'm going to wait it out for now. Now if we do see a bounce here, if we see that 29K holds here and we see a bounce back up, let's say we get a bounce up from here and we, you know, we retest $30,000 and potentially after that drop back down to $29,000 again and it starts looking like we're going to be trading in this type of range. Now I might be looking to take trades here at $29,000, right? Because now we're getting multiple taps here, right? So I'll be looking for some sort of candle here that gives me some confirmation that buyers are coming in and that we're going back up. And then I'll be the same thing up here, I'll be looking to sell. So I'll start treating this the same way I was treating this up here when we got this, you know, buying this support, selling at resistance. So I'll be looking for something similar there, but first I have to see a bounce here, right? I'm not, this is the first time that we're here, I don't want to open a position here yet. So I'm going to be waiting for that, need some confirmation. For short, now if you're shorting, you have to remember that you're shorting against a trend, right? The overall trend is to the upside. So usually if you're a beginner, if you're a starter, if you don't have a lot of experience, you want to always look for to trade within the trend, right? You want to trade with the trend. So, because that's where the biggest, the highest probability setups are going to be set, right? So that's why I spoke about waiting for potentially retesting this trend line here. However, if you are looking for shorts, you know, if we lose this $29,000 area, this could be a potential short. Now the way I would probably look to play it is I want to see us lose it and then potentially retest it and then, you know, continue down lower. So that could be a play there. I don't know if I'm taking that because I don't know, I don't like it. Even though this week we could go down lower right now for me, we're already down, right? We're down a lot. Look at this big candle. So we've already moved down a lot. We could potentially see a move back up and then at a rejection at 30K, maybe that's a better short position. But right here at this level, even though we could continue down because of interest rate hikes and all that, I don't feel too good about opening a position there. So I'm probably going to be sitting it out. If I do see a big move down and then a retest and I see prices kind of stalling out there at 29K, then potentially that's a case to open up a short. But for right now, I'm not opening up any shorts there. And then another potential short would be on a break of 28K. Now, 28K, again, it's a big support and we're close to this big support area here. So I probably would not be taking that either. I think right now the highest probability trades are, you know, longs at the support. If we reach that low, and that's probably the best play right now. If we get any bullish news and start moving back to the upside, then you know, we have to reevaluate, depending on what candlestick patterns we're getting there and potentially open some long. So for like the intraday type of stuff, I'm looking at the four hour usually. And this is where I'm looking for candlestick and chart patterns here to see what's going on, right? So we see a potential pin bar there after this big move down into the support. But it's not looking strong. It's looking weak. This next candle is not looking strong at all. So that's why right now here, I'm not really looking to open up any long positions. I'm just gonna kind of wait it out, especially with the news that we have coming out on Wednesday. So that's pretty much how I will be playing it this week. You know, every day this changes though and every day you have to reevaluate what's going on in the chart, what the price is telling you. And you know, so this changes. If you guys wanna see exactly what I'm doing every single day, as I do it, you guys can join my Discord. The link is in the description below. Or you can find it on my Instagram as well. My link in the link is in the bio. But yeah, so that's pretty much it for the price analysis here for this week. Now next we're going to do the Q&A. So if you guys have any questions, make sure to drop it in the comment section. If not, I will go, I'm gonna be looking over my Instagram right now to pull up some questions here. Queen, while I'm pulling up some questions here, what do you think about Bitcoin this week and the interest rate hikes? We don't need them. We don't need those interest rate hikes. That's what I think. Bitcoin overall, like I said, I think that the alt season seems to be coming or is what most people are speculating based on market movement. Now, again, these things may be true. If that's the case, Bitcoin might be a little stagnant. It has gone up quite a bit for the time period that it's gone up. So for it to go sideways for a little bit of time is okay, prior to the next climb up because Bitcoin seems to climb like thousands of dollars at a time. And because of that, it's okay if it takes some time to, I guess, level out. I think if there is more like ETF news and stuff like that, then maybe once that stuff is approved and there's actually more money dumping into the market, there will be some moves. Supposedly there was, I think like 78 billion dollars of like deposit that was like leaving banks. And then there was 1.2 trillion that the stock market was questioning off whether like that money would flock to crypto. So there's been a few things that had been float that had been like, I guess, thrown around. But overall, I think that we, you know, I keep dollar cross averaging in, you should be fine. I don't think anything of it. Yeah, for sure. All right, so I got our first question here. And the question is, can XRP get $100 this coming bull run? What do you think? $100? Yeah. That's quite a bit. Yeah. I mean, it just, it hasn't hit five or 10. Right. I feel like a hundred, it's pretty high. Maybe, how, like, so like the thing is, when you ask those questions, and you got to do some math in terms of, oh, am I gone? I hear you, I don't see you. You disappeared. That was weird. Hold on. Yeah, I still hear you though. Yeah, I don't see myself. That's so weird. What happened? It's fine. While you're getting that set up, I'll answer the question. So to give you guys an idea, right? For XRP to reach $100, the market cap of XRP would have to be $5.3 trillion. We can look at it here, the coin perspective. For XRP to reach $100, that, you know, the cap, the cap would, the market cap would be $5.3 trillion. Right now, if you look at the Bitcoin market, the Bitcoin, the entire Bitcoin market right now is $1.1 trillion. So you're saying that XRP would have to not only be $1.1 trillion, but five times that. And that's just XRP alone in order for it to get to $100. Do I think that's gonna happen? Definitely not. At least not in this next bull run. Maybe when the entire cryptocurrency market goes up over the next 10, 20 years, as it grows into trillions and trillions and trillions of dollars, then yeah, potentially. Right now, again, the entire market cap is $1.1 trillion. I think the highest the market cap ever was was around the two to $3 trillion range. So is XRP gonna go from right now, where it is right now, $36 billion to $5 trillion? Definitely not. That's just not something that's realistic right now. Now, you know, let's try to get a little bit more realistic. So even if XRP was to go to, let me see if it lets me, let me try to refresh it here. All right, so if XRP had Bitcoin's current market cap, which is, what is it right now? Let me see. The current market cap is around the $500 billion market. Is that what it is? $500 billion. So with even $500 billion, which is 14X from XRP's current market cap, that would put XRP at $10, right? So do I think that could happen? I think that could happen at the peak of the bull run, right? That's something that's, it could potentially happen. Now for XRP to be at $500 billion, Bitcoin would have to be way more, right? I don't think XRP gets close to flipping Bitcoin or Ethereum. And let's look at, what if XRP had Ethereum's market cap? That would put XRP at $4, right? So this puts, this gives you more of a perspective when you compare it to Ethereum, Bitcoin using the market cap and the circulating supply. Gives you a better perspective and more of a more realistic approach to trying to project what it's gonna be worth. Now again, we're still pretty much in the bear market, right? So, how high is Bitcoin going next? We don't know, right? We don't know. A lot of people are expecting $100,000. For $100,000, that would put Bitcoin at, let's see what $100,000 would look like. For Bitcoin at $2 trillion, right? Is that realistic? Yeah, it's definitely realistic because we recently saw $69,000, which was $1.3 trillion. If we're expecting ETFs and all this other stuff coming in, we're definitely expecting at least $100,000, which would put Bitcoin at around $2 trillion. So that's definitely, so even at $2 trillion, let's say if we expect that to be the high for the next bull run, the peak, we expect the peak of the bull run to be $100,000 for Bitcoin. That's $2 trillion, right? So now if we go back to XRP, and let's say XRP at $2 trillion would be $36, $37. Now, XRP is not gonna be $2 trillion in the next bull market because it's not gonna be more or the same as Bitcoin. So what percentage of Bitcoin is XRP right now? So Bitcoin's at $500 billion, XRP's at $36 billion. I don't know how to do the math to figure out what percentage of it it is, but it's definitely around, I think it's under 10%. Is that what it is? Is that like a 3%, I don't think it's 3%, I don't know. Let's say 10%, just for fun, right? To keep things simple, let's say at 10%. So 10% of what, $2 trillion? I can't even input $2 trillion on my calculator. Two to the whatever power. So even then, that would put Bitcoin, I mean, I'm sorry, XRP, try and see if you can get that number for me. I'm thinking it's probably around 200 billion range. Would that sound right? That would put XRP at basically $4. Do I think XRP could go to $4 to $5? This next bull run? Yeah, I think that's a lot more realistic than thinking it's gonna go to $2 trillion, which by the way, $2 trillion doesn't put it that high. And $2 trillion, I mean, it does put it very high, but that's gonna, it basically saying that's gonna be higher than Bitcoin in the next bull rally, right? So that's kind of where I look at it from. So I think the more realistic answer is that XRP will reach new all-time highs, but I think the height of it is probably gonna be around that $5 range, because even at $5, that's $263 billion. And I think that sounds a lot more realistic for a market cap. I think $5 would be a good target there for XRP, which from right now, from its price right now, that's 614% return. And we're talking about in like the next two years, I think that's a pretty good return. I don't know, I don't know. I know we're in crypto, but 600% return in two years when the average return in the stock market is 8%, I think that's a pretty decent bet there. What do you think? Do you have any thoughts on it? My thoughts are hang tight, guys. Those are my thoughts. I was looking at the charts and running the numbers myself. Yeah, I think like, recently you can make some decent gains. And I think everyone needs to remember like the main reason that like XRP itself like takes so much money to get so high is because the idea that it's supposed to be used for like institutions and that institutional money is supposed to flow in and like actually use these things, which is the idea behind it, right? Which is why it would just take so much for it to reach, you know, like a measly $100 as we see it, right? Compared to like Ethereum, which is nowhere near the amount of money it needs to reach. And it's like quadruple, quadruple like 50 times the price, right? 100X, whatever. Yeah, I think this is, these are the important things when you take into consideration what projects you choose to support and invest into because these are, these are definitely key factors is what I'd say. Yeah, for sure. All right, let's move on because we're running out of time here. The next question, we'll take two more questions. The next one, Litecoin halving date. And I pulled that up here so that we can answer this one quickly. Right as of right now, there's about nine days left before the Litecoin halving and that the date right now is about the second of August. So about nine days away, guys. So that was an easy one to do. That's why I chose that one. Let's see, and let's get one more question. Let's see, let me look through these, the questions here. Looking for question here. A lot of just general questions is what I'm seeing. Let's say, let's do this one is just very general but how do you get started? So I think we've spoken about it before. For me, the way I got started was kind of by mistake. I was trying to do some American football gambling. The only way to do it at the time in the US, you needed crypto, you couldn't do it with, you couldn't use credit cards, debit cards, anything like that, it wouldn't take it. So that's how I kind of got in, left the money in there. This was back in 2016. I think Bitcoin was like at four, five, $600 at that time. And when I checked back, and probably like a year later, right, my money had like doubled or tripled or whatever it was at that point. And I was like blown away. I was like, where does money come from? And so I'd started investigating and I saw it because I had it in Bitcoin. Bitcoin's value had like doubled at that point, doubled or tripled at that point in a short amount of time. And that's why my money had also done that. And I was like blown away. So I basically got obsessed with crypto at that point and just started learning day and night, 24 hours a day, I was just hooked on it, wanted to know everything that there was about it, got into outcoins and everything else, then I got into trading it afterwards. Before that, I was already a trader. I was just trading stock options and futures and things like that. But I had never tried to trade crypto before then. When I saw that, I was like, this is crazy. I want some crypto and that's basically how I got started. How about you? Me, I guess I was, I also tried to buy, I think it was called Gamecoin. Like back in like 2016 or something like that. 15 and like it just wasn't working. And from there, forgot about it. And then I couldn't stand my job. It couldn't stand like being like in an office, like the corporate job life just like was not for me. I like to have like, you know, the leisure of doing things. So I started like, I guess diving into the idea of entrepreneurism, entrepreneurship, I should say. And then I stumbled upon the crypto space. I had some friends who started like hosting meetups and like teaching me and I would learn. From there, we started kind of like doing our own, I guess, events slash like streaming online and doing stuff of that nature. And also capturing footage at events and like just doing different things, hosting events. And I mean, you know, I've been here for the past seven years. The rest is history. That's pretty much how I went down. Yeah, awesome. All right guys, well, we're gonna wrap it up. Thank you guys so much for tuning in for those of you that tuned in during the live and who are tuning in, whether it's through our podcast or on the YouTube channel. Remember guys, we are now live, officially live on the podcast. You can check it out on Spotify. You can check it out on Apple. And I think on Google and Amazon, I believe those are the four different area places that you can listen to the podcast. So if you guys are listening to us through the podcast, make sure to give us a follow, make sure to drop a rating as well. That helps us to get discovered more by people. But yeah, we're gonna be doing this every single Monday, usually at 1 p.m. Eastern Standard Time, talking about the latest news, the latest things with crypto and what's going on throughout the week. So again, thank you guys. Thank you, BTC Queen for being here with me as well. And I'll see you guys next Monday. As always, peace and love. See you guys.