 What is going on ladies and gentlemen? Welcome to another episode of let's talk crypto with myself Jay from Bitcoin daily and of course my incredible host the BTC Queen Queen. How are you doing today? Oh? It's a good day. It's Monday. I'm a little sad because there is some misinformation going around Twitter yesterday and Yeah, I just I was hoping it was true Yeah, I I think everybody was hoping that it was true like I literally saw it everywhere on Twitter yesterday It was all over all over the Twitter news. I was gonna say all over the news all over the Twitter news and I think every everyone was kind of hoping for the same thing but at the same time I think everyone was also like I doubt it's true. There's no official sources like we haven't actually like, you know, it was a Trust me bro is my source type thing But so it was like there's nothing official like I know some people were asking me about it on Instagram They're asking me if it was true and I was like look, there's nothing official yet It's only rumors so unless I see something official from an official statement, then it's I'm not I don't even want to you know I don't want to get my hopes up, so Yeah, it's pretty much. So yeah, here you are It's Monday It is Monday and it is two o'clock Eastern Standard Time Today today is a couple they were today. We're a little bit later I had a couple other errands that I was running But it is a new week. It is also a new month So a lot of things to kind of just touch on today go over we want to review You know how how we end the last month, which was a very bullish month for Bitcoin overall And then see what we have upcoming this month. I know this week is not going to be as far as news Things that that they're you know coming in and on the economic calendar Stamp point. There's not a lot going on this week and we do have a holiday in the US So I think volume is gonna be a little bit slower to start off the week Then we have something coming up on Wednesday, but next week. I think then we got the Inflation reports again, so we're gonna go right back to that and next week, you know, things could go the volatility is gonna pick up again But um, but let's let's go over. Let's see what's been going on in the market See where Bitcoin is right now and as you guys know usually when we streamed bitcoins price goes up So let's see if that happens again today And see how the rest of the market has been doing over the last week. So let me switch the cam over There we go. All right guys, so Right now as you guys can see Bitcoin is currently sitting at about 31,000 dollars right now So not too bad at all It's been and you can see it's been staying here pretty pretty strong within this range, right? After we broke out we had this big impulse move up. We had a little mini Bear flag and then we we basically set new Highs for the year and then ever since then we kind of went back into that same range where we were Over here and we're just kind of at this point just in this range consolidating a bit And that's very common if we go here to the daily where that was a four-hour chart If you go to the daily we can see a little bit more clear We have this bull flag beginning to form here So as you guys know, that is a bullish A bullish pattern, right? It's a big impulse move Consolidation before continuation. So we'll talk a little bit more about this when we do the analysis Let's look over the rest of the market and see how it is performing so Let's take a look at the last seven days here So over the last seven days Bitcoin is up over three percent Ethereum of about six percent So we did see you over the weekend actually a pretty nice run here So I think over the last three days or so Ethereum went from like 1900 to where it is right now in 1963 and I think the high Is today is set a new high here of 1977 so It's it's been picking up speed because as you guys know Bitcoin has been outperforming the outcoin market overall for the last month or so If you look at Bitcoin's dominance here and for the first time we saw on Friday Bitcoin's dominance started dropping back a bit after hitting a high of 52.18 percent. So currently sitting at 51.2 percent And that's why you're starting to see in the last week Some outcoins are beginning to outperform Bitcoin at this point If we keep going down the list to see if we have any top performers here And one that's gonna pop out is going to be like coin like coin is one that we've been talking about for Multiple months now. I think for the last two or three months at this point I did a video on the light coin and why I thought it was a great time to buy When it was down between the $40 to like $70 range And as you can see it's it's up 23 24 percent over the last seven days, right? And the reason why is because it has a halving coming up in August So if you guys haven't checked out that video where I break down all the previous halvings and how light coins price performed and Basically my price targets due to its history you guys should check that out I'll touch on it a little bit more in a little bit Let's see what else Solana is also here outperforming is it's up eight eighteen percent over the last seven days Bitcoin cash Bitcoin cash has definitely been on a run. I remember last week when we looked at it it was up over like a hundred percent in the last seven days and It's still running up. It's up 32% in the last seven days here. So that that's an interesting one there and If we continue going down to see if any other big performers here Not nothing really that pops out too much here. We have the graph up twenty two percent. We have maker up forty five percent Bit down Bitcoin SV those are up over twenty four percent and twenty seven percent and Yeah, as far as the top 100. Those are the main ones standing out right now And one thing that that I have seen is a lot of the Bitcoin forks have been Have been pretty much moving up, right and not not only that but a lot of the proof-of-work projects have been moving up ever since the the SEC sued Binance and Coinbase and only named proof-of-stake type of projects as Securities so That that's an interesting thing to just just kind of you know keep an eye on right to see how things develop from there Other than that, let's if we go to our top performers over the last seven days You'll see compound is number one is at that number one spot. It is up over 78% in the last seven days. That is pretty crazy, right? Makers in second place forty five percent e-cash forty five percent flow thirty six percent And then if we look at the top losers over the last seven days, we have radix down 19 percent Conflux down nine and a half percent near protocol down seven and a half percent eight coin down five percent so That's pretty much covers The overall market where we're at right now, you know, what's been going on over the last week or so Let's take a look at the calendar and see what's going on this week. What is coming up? The main thing that that we're really gonna be seeing this week is probably going to be the FOMC minutes and Basically what that is is a report in writing basically about what was discussed during the last FOMC meeting when they decided on the interest rate hikes, right? So that's basically That report gets shown to us, you know, we have access to it. We can see what was discussed in all of that So it gives it usually gives a little insight on where the Fed might be leaning Next right so whether, you know, they're planning to once again Start hiking rates or if if they're pausing or if they're cutting whatever whatever it may be You know, we had Jerome Powell speak last week I think twice and he spoke about how they're planning They see at least two more rate hikes This year and they don't see any rate cuts at all this year So, you know, we'll see we'll probably get a little bit more insight on that And then on Thursday, we have I think the biggest one here is the job openings But I'm not expecting too much volatility there maybe just a When it when the report first comes out, maybe a slight move in either direction Depending how the report comes out and then on Friday the non-farm payrolls and unemployment rate Again, I don't think that that's going to be any bring any big volatility into the markets So the next big volatility event as far as that economic calendar is concerned It's probably going to be on Wednesday next Wednesday, July 12th. Well, once again, we get the inflation rate reports last time, of course, we came in at 4% and the forecast for for this month For the well this month's report is at 3.6 percent. So We'll see what the consensus is. We should be able to see that next week at some point and Then we'll we'll see we'll see what happens. That's definitely going to I'm expecting it to bring in a volatility And then after that, we don't have anything else for this month That's a big until the next really big one is of course July 26 when we get the Interest rate decision from the Fed once again. So those are the the main two events I think that we have coming up as far as the economic calendar, of course, you know with everything else From the SEC who knows what might be coming up as far as the news from the SEC And anything else going on that can also bring volatility into the markets and effect prices. We saw that last week on Friday, I think it was when SEC came out saying, you know that That all these companies that were filing for the spot Bitcoin ETS that the filings were inadequate We'll talk about that now in a in a second And we saw the prices drop basically one to two thousand dollars within an hour and then, you know, jump right back up So, you know, there's always things to keep in mind things to be paying attention to and that's why we also have to You have to somewhat cover the news and guess what guys? That's what we have the BTC Queen here for to cover some of that news Queen let us know what is going on out there. What should be what should we be watching? All right, so I guess let's get into it here My computer slow. No, it's not loading my document. Okay. So first of all us Let's talk about I guess the elephant in the room, which is SEC chair Gary Ninser is not resigning And that is why I'm sad on this Monday afternoon Anyways, so pretty much this was a product of AI. So AI misinformation Was pushed around supposedly saying that the chair See, there was an inside source from the SEC that That a rumored or alleged that the chair was residing none of these things are true and Supposedly this this came from an AI supposedly but there was someone running that AI, right? It wasn't just like the AI said oh, I'm just gonna do this thing It was definitely someone someone's doing but um, yeah, so pretty much that's that's about it. That is the That is the point of that. That's that's gonna be a new thing, right? Where? We're gonna get now misinformation from AI's is that is that the I mean, I don't it's like said if somebody just like, you know building like Learning models and just like letting them run wild. Is that is that what's happening here? Um, yeah, there's there's some people questioning like wasn't an AI wasn't it a part like how do we know? Supposedly it was an AI supposedly. This is what's being claimed. Um, I definitely have seen a lot of interesting things that AI's have came up with within I guess bounds of Memories that people give it I've seen like AI comedians that like stream and like do like stand up But like nobody's telling it what to say. It's just being fed bounds of information and it comes up with things and It does end up saying some wild things It's quite funny, uh, but yeah, we'll uh, we'll see if there is another day where maybe our dreams will come true Uh, so moving on. So even staking not secure So in a recent podcast by Todd Bearton had Revealed that he himself does not stake all his eat. He stakes a small amount because he fears That his ethereum could be stolen Yes So staking by a third party is considered to not be secure because you do in fact have to reveal private key information to that staking party And um, that's not safe for anyone. Now is it giving access to your private keys is not the way to go Um, so for that reason mr. Beater and himself does not state He believes that multi Stake party staking is a way to go Which does not really exist at the moment because it is very complicated and difficult to implement Um, and he fears that the 40 billion dollars in ethereum that are securing the network Could be at risk so, uh Wow, I don't know what else to say there Wow That's kind of scary Yeah, it's like Yeah, I know it's a little uh It goes to show that all this stuff is extremely experimental guys And that you should just not go all in on one thing because You just never know you just never know and that's that's what we're that is what we're seeing here We're seeing that you just can never know because these things are extremely experimental and Chances are if the guys at the top are in doing it then neither should you Yeah, you not you not only have to Diversify your portfolio, but you also have to diversify where you hold your cryptos That's that's a main thing that a lot of people miss don't put all your crypto in one spot Because again if something happens if you lose your keys if you get hacked, you know anything like that You just lost that so diversify not only your portfolio, but where you're holding your crypto Exactly. Yeah, no very very important things to know here um, so if you haven't heard as of yet Uh, another one bites the dust. Uh, there is another exchange that has been facing the scrutiny Of the united states and fears that it will get caught up in this jangle So they are requiring KYC and that is none other than cuckoing itself um Also sad about that So, uh, I I thought that more exchanges would stand up for themselves, you know Like it's um, it really sucks that a lot of these exchanges are are just operating outside of the realms and you know operating in fear But have you have you heard have you heard about this? Um So I just got a metaverse residency in the republic of Palau Palau. I'm not even sure how to how to how it's Uh, how are you supposed to say it? But with that they give you they give you an id card You literally sign up with the government and you get a one year See digital residency In their country and then you can use that residency To do your KYC in all these places where You know certain countries are not allowed So that's how No, tell me more about this Hold on there Please please tell the people about this this residency process. So give us some insight on this. This is quite interesting I'm gonna have to do a video on this. Let me let me actually see if I have uh, if I have my card Hold on give me a second. Give me a second. Okay, continue with the news Let's continue with the news That's kind of cool guys, I'm not gonna lie. Um Wow, okay, check it out. Check it out. Hold on. Look at this So it comes It comes in this in this thing like this Right, I see it's like it's like sealed. It's like official See if you can if you can see it. It's called Palau Digital residency ID Interesting and this this works to sign up with with things. I I did my uh, My registration my verification. I'm I'm gonna just kind of Show my ID here, but this is Let's see if it focuses the ID and um It's an identification card. So I did my verification I I did my so, you know, how there's like different different levels of verification You can do your level one because you don't have an an exact address So you can do your level one verification though with all these exchanges With this and for example on bybit I I verified with this ID and I can still trade on bybit Yeah, so I just did I just I just did the same thing with um With q-coin. So I just verified using this ID Um, and it was approved So and I could do the same thing. I could do it with binance. I could do it with With with any any exchange really like they all accept it. What was your what was the uh buy-in for this residency? It's in the meta verge. It's $250 a year Really but But um, if you're So so if you're and and I don't I think you have to be a VIP so that you so for example if you trade on On bybit and this this is how I did it. Sure if you trade on bybit, um, if you trade a certain Volume on bybit You get there's like VIP levels, right where you get discounted fees this and that Um, if you're a VIP on bybit They'll cover the cost of it for you You just got to speak to to the VIP person and they once you do it and you send them the stuff They'll they refund you the cost for the residency yearly You got the most maximum amount of alpha. You could possibly ever get um on this show That was That was some real news guys. That's that's some real alpha right there So I'll I'll probably do a video on it. Um, I I literally just got it So I wanted to to to get it and try it myself and everything first Um, and and it works. So I'll probably do I'll probably do something on it soon here on the channel Sounds good to me. All right. Well, you heard it here first Let's look out for that video with j. Yeah So in the meantime while j makes this video, um, I guess let's go back to some of these sec filings So coinbase filed, uh, uh, I guess a motion with the sec Because they want their case dismissed because it lacks merits Reason being is that they and we were talking about this two weeks ago allowed coinbase to offer a public IPO, um on Approved by the sec I should say and Six of the 12 currencies that they had mentioned Within the lawsuit were listed on the platform at the time so That is saying that the sec approved For for coinbase to go public While they were selling unregistered securities So that is being looked at at the moment It's a 177 page motion That was filed to the courts. Um, and this came days after Binance was denied There uh, basically attempt to shut down the investigation Slash lawsuit from the sec and to them Because they also believed that the sec was being uh Doing misconduct is what was listed. Um, so they were denied but Coinbase, I feel like they have a good amount of leverage because they are in fact a publicly traded company And it is true that part of their Unregistered securities were listed when they went public. So that means they were pre-approved by the sec to go public problematic very problematic So mastercard has been working on its own network and it's called uh, MNT multi multi network Uh token, I believe it is called. Let me let me look. I'll tell you guys right now Multi token network. Yes, I said backwards It's it's not to be a multi network multi token network product. Um And right now it's available in the uk as a beta Before it goes live in other places, but uh, it's basically their own platform that aims to do I guess multi ecosystem multi token transactions within the space and I mean, I I just see this as another like Stab at blockchain like my elicum IBM did uh, however, because they do specialize in payments This might be a little bigger than that. So I did think that was quite interesting. Um Yeah, we'll see we'll see what comes out of that It's it's in beta right now in the uk if you guys want to try it out if you're there And speaking of the uk the uk has recently passed a bill by upper parliament regulating crypto assets. Uh, so supposedly it is a Win for crypto in the uk because it gives some clarity and merits into how to utilize some of these digital assets Um, I didn't quite read through the whole bill because I I do know that there were some conflicts of interest at some point in time With some of the things that they were trying to pass in the uk and it was like no good But for the most part according to Some blockchain developers and other people who have looked over this bill. Um, it's not too bad. It's pretty good And it's very bullish for the crypto market in the uk Because now it gives the opportunity to more banks And financial institution within the uk to function with crypto currencies, which will eventually bring in more capital Which is cool So the sec Without really shut down The etf filings for bitcoin By black rock and fidelity and all the rest uh, so supposedly they spoke to uh, the chicago of board and basically said They spoke to to nazdaq on the chicago board and basically said that there was inadequate, um Information filed within these etfs. Uh, and they really only mentioned one thing when they were talking about The etfs it really was them saying, um, like who was In like their surveillance Surveillance sharing agreement Is is what they said like who who is a company that will be facilitating this specific function And if you provide clarity for that you can resubmit. That's pretty much what they said They didn't directly directly answer back to the companies. Um, so they didn't really like shut them down But it was kind of like a hint for them to Send in this information. Um, so then that they could potentially get approved So, um, we'll keep an eye on that but uh, it seems promising for black rock and last but not least The northern district of california, um, I believe acts crack in To provide details to users who engage with their platform With over $20,000 a year now I believe that this technically applies to the entirety of the united states Even though it was filed in the northern district of california. Um, now I think that the portion of the the $20,000 was approved. There was other portions of things that they were asking for that wasn't like You know where did crack and get their wealth from and like just just random questions like that that the sec Or the judge ruled as kind of like overstepping by the sec Uh, but pretty much, uh, if you are functioning within, uh, over $20,000 with crack in They will like details from you, which I think is actually pretty fair Considering the fact that usually over $10,000 is the number $20,000, I mean, that's pretty much double of what it usually is like if you Do if you wire $10,000 to a bank account, um, that is reported to the irs Versus this is not reported to the irs At all and they're asking for $20,000 in transaction Mind you if you use things like cash up in venmo, uh, the body administration Asked for anybody doing over $600 to be reported to the irs, which is a very mini school number So $20,000, I feel like is is pretty adequate, uh within a calendar year. I don't see an actual problem with that, but um Yeah, I feel like they should have been collecting that information already just based off, you know previous information that we've seen Coming out, uh, especially from coinbase in the past where they the number was set at $10,000 So no surprise there to be honest and uh, I think that's news This week again is going to be probably slow It's the 4th of july here and and I will say in america jay set out in the west But in america it's the 4th of july because no one else has a 4th of july And yeah, it should be a slower week. Uh, big coin is doing numbers Um, there's been other sources of news and I guess interesting information that has gone around Um Regarding the beginning of a bull market As we see it supposedly So, uh, yeah, we'll just keep a close eye on what we have coming up in the near future because It looks like bitcoin might be on its way up Yeah, but they will talk a little more about that. Yeah, definitely. So so there's definitely been a lot of uh In the last couple weeks since black rock began filing for that et the bitcoin spot etf A lot of people seems like they've been jumping on that bandwagon and also filing for uh, bitcoin spot etfs so You know, um, usually what does it say? Usually if there's smoke Then there's a high possibility that there's a fire type of thing, right? So so that's like, you know, if black black rock I think has been They have like a 99 success rate when they file for etfs Now, I know that scc came out on friday saying that, you know, that the filings weren't and that were inadequate But if you read into it, it also said, um, it basically Gave told them look, this is what you need to do so that they are adequate, right? So, um, Right like the scc was it felt like they were telling them like hey black rock here Fix this so that we can approve it. So before hand We've never heard anything from the scc when it comes to people when that they file They've just either delayed it or rejected it. There's been nothing else, right? They haven't told them why there's been really no reason why Um, no real reason why right there? They they give bs reasons. There's been no real reason why So this is the first time that they're like, hey, these these filings are inadequate here. You need to do this this and this so So I I even though and I and I think a lot of the communities saw it the same way even though the initial Headline was that that's it. They're rejecting all the etfs Then when you know, when they started reading into it, then they're like, oh, wait a minute. It's not really a rejection It's just telling them kind of what to do Uh, how to how to set it up so that they can potentially approve it. So, um, so I think that's That's bullish overall and I think that's I think prices are currently reflecting that Um, let's let's jump into into the chart here Um, as you can see, you know, this big wick right here. This was on friday. So that's when that news happened where, um The sec came out and said, hey the findings are inadequate You can see the initial reaction was to the downside and we went as low as 29,400 dollars on friday and as you can see We still ended the day green, right? It's a it's a doji candle, but we still ended the the day green and then we've moved up ever since So we're currently back where we started. Um on friday, uh, that you know that we got that moved down We were at 31 thousand dollars and then we moved down, you know, all the way down to 31 Uh, sorry 29 400. So now we're kind of put we're right back to where we started So let's let's go ahead and take a look here at the monthly candle because the month just closed And um currently Well last month we ended up closing up 11.94. So up about 12 percent on the month. Um, it is I'll say the third biggest month this year. Yeah. So january we we were up 40 percent Um in february we're basically flat, right? Uh in march we went up 23 percent In april we were up two and a half percent may down about seven percent and then uh Last month in june up about 12 percent and then so far this month It's only been a couple of three days. Um, but we're up currently almost two percent right now. So Definitely a good start overall and if we kind of zoom out a bit Let me see how far this because this is the the bybit Chart, let me let me switch to a different chart because a bybit chart doesn't go too far back Let's go to Let's see all-time history here Um, and and again, we're still looking at the monthly Now Excuse all the all the drawings on on this chart because I'm actually doing a video on the bitcoin halving So that's why a lot of these drawings are there. I'm I'm basically marked all the halving And then how long the period of time between between halvings The moves and all that etc, etc So I'll be doing a video on that soon But um, as you can see here after each bear market, right once we got Really big basically Monthly candles that began to what what we call break of structure Where it breaks the previous structure, which was the bear market. Um, Usually that's the beginning of a bull market, right and we saw it there last time around um, we saw it, you know Well, we saw it back in 2015 When we went from bear market into the beginning of a bull market into to that all the way throughout 2018 then we saw it again back in 2019 when we basically bottomed out And began a new move to the upside a new bull market and we're kind of seeing the same thing here. Let me Remove these drawings here because I can't see anything. Let me get all of this out the way. There we go So you can see the structure here how we've broken the structure Right and we now have a bunch of bullish monthly candles here And this is you know, if when we're going down, you don't see that that bullish months like that, right? You don't really see that so, you know, when we're in in the 2018 bear market, you know We got one green month and then red red green red red red red, right? So right now we're at green green green green red green. I'm expecting this month probably green again And that's anytime that's that has happened. It's because we've uh, we've broken the structure and we've basically Bottomed out and began the new bull market now. I'm not saying we're in a bull market as of yet but There's a good chance that this is the beginning of the bull market where you know a year from now will look back and will be like You know, oh, yeah, that was the beginning of the bull market Um, I think that's that's the time that we're in right now Right still here at $31,000 right now. So Let's now take a look at the weekly And as you can see the same the same thing, you know The main things that we've been watching here on the weekly is the overall structure here. So, um, you can see here You know when we bottomed out here and we had that initial move up We set up a new high and we set up a lower I'm sorry a higher low as well Then we had another move up. We set up another higher high Right and a higher low once again And now we're working. I I believe right now. We're working on that next leg up Right that next leg to the upside and you know, I I was sharing this last week My next target is up here. This is my next target Which sits and it's gonna be this it's so we have this line here, right? the line is a Fibonacci retracement line and you know that that was that comes all the way starting from from The last ball right up And that should that gives us a tart a number of about 36 37 thousand dollars Right now if we look back in history It gives us about the same numbers, right? So we have this right here and that's literally the line is that Fibonacci level is right in the mix of all of that Then we see it again right here We see it again over here We see it again over here, right? So this area is obviously a very very important area And that's why that's how we know That you know, uh, there's confluence there, right? We have the Fibonacci level there retracement level and we have Um, that support there now because remember Resistances supports that they're never uh exact numbers. They're always a zone So that's why I created this green box and that's my little zone Where we've seen that act as a resistance and as a support All right, so that that's the the zone i'm focused in and that's between 35 to about 38 thousand dollars So that's the level that we're watching that's the main level and that that's what i'm looking at for our next target there now To get there we do have to break above this current resistance see this red box This plays as a Major resistance right now if we look back Again, the same thing we just saw in that green box, right? We look back over here We see back here. That was a major major support there. Once again here Major support and here major support notice that when we lost that level look at this crash we crashed automatically Where to this very next yellow line, right? The very next yellow line which was down here So With a break above this yellow line I think we move up to the very next yellow line just the same way We saw it when we went down when we went down when we would lose one yellow line One Fibonacci retracement support level we drop right to the next one when we're moving up We would lose we would get past one. We would go up right to the next one You know, I think we see a similar move here Eventually in the in the coming weeks in the coming months, whatever it is And it's that next target. So that's why that's my next target now furthermore You know, I'm always looking for confidence. I'm not just saying okay, you know history says that's a support and resistance Fibonacci retracement gives me that level as well as as a number I'm looking for more confluence. I'm looking at volume shelves, right? Where where's their volume? Where's their open interest and what what what number does that give me? Guess what? It gives me the same number. Look at this the vault the highest volume shelves are up here, right? So that's basically telling me the same thing. Look at this right now. We're at the top Open interest area and once we break above this level, look at this gap There's a huge gap here between 32,000 all the way till You know, the the the volume comes back in when we get to that green box That's right right around 34 35 thousand dollars And where this line is where a Fibonacci retracement level is That's where the volume shelves starts picking up there, right? So that's going to be a resistance area So there's that that's more confluence there If we continue looking for confluence I've shown you guys The head and shoulder the inverse head and shoulders pattern we've talked about a bunch of times, right? Where our target for the inverse head and shoulders is that same target up there I could probably pull it up here I just I I can never find which chart I have it drawn on since I there here it is So guess what same exact same exact area, right? It's not an exact number. I'm not looking for exact numbers I'm looking for The range that area and this gives us a target of around 36 thousand dollars for this inverse head and shoulders Pattern here that we're looking at and it's playing out exactly the way an inverse head and shoulders plays out Right, we have the inverse head and shoulder. We have a breakout We have a test of resistance Then we have a retest of that neckline before continuation up. This is plain literally This is a textbook inverse head and shoulders If you look this up on google inverse head and shoulders, it will show you this exact pattern exactly how it's playing out So, um, we have a lot of confluence on this exact same, uh Target up here, which is that 36 To 35 to 38 thousand dollars. So that's my more mid mid-range target. I would say Um, because I'm not I'm not saying it's gonna happen right away As you can see with all these moves it took multiple weeks, right? So, um, when we had this this impulse move up that we said a new high It took what? one two three four five six Seven weeks before that next impulse move up right and um It's take we've been here in this same range for about a month now But we had a more of a correction than the previous time So, I mean now it could take a couple more weeks before that impulse move up But I think eventually we will get that that impulse move up and that next move is going to be into in this direction between 35 to 38 thousand dollars And then I think we start, you know start consolidating in that range and trading in that range, uh, you know, maybe retesting And having eventually having some sort of correction pullback Before once again continuing, uh higher up I think that next after we get this one then we will consolidate and, um And trade within a range probably it's toward till the end of the year before Uh, we break above this because once we break above this level Guess where my next my next target is my next target is basically fifty thousand dollars Because again, I'm I'm just kind of looking at the the Fibonacci retracement levels And then I'm looking back at his that gives me an idea of where I should be looking for for targets, right? And then I look at history and I look for for that confluence Right and we we start seeing it there. We see price, you know Kind of uses that as a resistance and support We see it again here resistance support, right? And all the way near that level so, um That that's my next target after that and that so that's not a target right now, but that's Once we get above this target, um, once we hit this target again consolidation Trading within a range, um, and I think it's fair to say, um, and it's it'll be realistic As long as you know, this is obviously also going to depend on news cycles everything coming out during the time But I think towards the end of the year Um, we can you know, october To de october november december is is what i'm thinking We can see Another leg up here Um, and that that other that that other leg up could be in this range The $50,000 range so um and then in 2024, you know as we start approaching that halving That's when we can see a break above this range into a retest of the previous all-time highs So now that's now we're getting a little bit ahead of ourselves But uh, that's just kind of overall what how i'm looking at the market what i'm looking at and You know, I always like to do an overview um from a wider perspective because then Based on what I think overall we might see in the in the longer term Then I can I can build how I want to trade it right I can build my positions Um, I can I can do all of that. So that's kind of you know, how I I set up for you know For what i'm doing daily. So that's after all that, you know, we have all that in mind now I'm going into the daily chart and looking and seeing okay, where where can I take trades here like what what's You know with those ideas in mind and thinking that that's what the end overall end results going to be Then what what am I doing here? What am I going to do to try to uh Make as much money as possible with my trading account, right? Remember my trading account is a small percentage of my overall portfolio I'm not trading with my entire portfolio. I'm trading with 10 or less of my overall portfolio, right? So you never want to be risking your entire portfolio on day trading That's that's not never a good idea because then your portfolio becomes very very volatile Um, you don't trust me. I've done it. You don't want to have that stress put on you. Trust me um, so what we're doing Is using 10 percent or less of our overall portfolio to trade The way that I kind of suggested is the more experience you have the closer to that 10 percent that you can be The less experience you have the less money you should That uh, you know the further away from 10 percent now It also is going to have to do with your amount of capital as well Because when you have more capital then you want to risk less you want to take less you want less volatility You go from trying to make profits a lot of profit you go from that To preserving capital now, you know when you have a smaller portfolio your your priority is You know try to grow that small portfolio Into a bigger portfolio as fast as possible, right? Everyone wants to grow as fast as possible So you're taking a little bit more risk and it's okay to take more risk when your portfolio is smaller Because for example your portfolio is a thousand dollars Although it hurts to lose a thousand dollars It's still like anyone could go out and in a month make a thousand dollars, right? It's not difficult to make a thousand dollars. So that's why it it's it's more okay And and again, you shouldn't I'm not saying go out there and bet a thousand dollars on one on one trade but um, you should it is okay To risk a little bit more when your portfolio is smaller versus if your portfolio is a million dollars, right? Now you don't want to be Risking a million dollars risking a hundred thousand dollars because that's you know 10 percent of a million is a hundred thousand You don't you probably shouldn't be risking a hundred thousand dollars on trades, right? Um, so you should probably be using less maybe around fifty thousand dollars for your trading portfolio Um, and and that's kind of how you build it up because when you when you already have a million dollars 10 million dollars 100 whatever it is when you have a big portfolio now your focus your priority is Preserving that wealth that you've already accumulated that you've already created you want to preserve it and of course make profits on it But as conservative and as safe as possible because you want to be preserving that portfolio that that capital that wealth So that's the different the shift in minds in mindsets and focus and priority You know when you're trading you have to be thinking of all those things and and be aware of where you are in your journey Because everyone's journey is different. So, you know, maybe a thousand dollars to you is not a lot But to the next person a thousand dollars might be a lot So, um, that's why we like to deal with percentages usually, um, and and I talk a lot in percentages because percentages You know, whether you have a thousand dollars a million dollars 10 percent is still 10 percent, right? So that's just the rule of thumb And of course it depends depending on your risk tolerance all that you could you can kind of adjust depending on experience So that's that's the issue so much goes into it. There's no one answer for everybody Right, there's no one answer for every single type of portfolio trader person, etc. So With all that in mind Um, the the way that I've been playing it in the last week Again, I am bullish. I think that eventually we continue up Um, so any and and again, we have a bullish pattern here um Right now we're at the top of the range, right? So because I'm at the top of the range, I'm not opening up any trades here Where I would be looking to open up trades is probably either above this Which is the yearly high right is the highest we've been all year or Above that look for um, the next big psychological level Which would be Right here, right 32 000 dollars So those are the two numbers i'm looking at if i'm looking for a long position if i'm trying to find Uh long trade right now, right? Now there is one thing you need to be careful with When we're trading in a range a lot of times what you'll see is um We'll break above this And what kind of the what the market will try to kind of try to do is trap you so We'll see you can see something like this for example where we kind of go like that we break that Because there's going to be liquidity up here. There's going to be a bunch of people a bunch of traders like me, um That have an appetite for risk that'll have uh breakout orders up here And what the price a lot of times will do it'll try to trigger those orders here, right? And then drop back down So you have to be careful with that so because of that If you want to be a little bit safer, then I would recommend 32 000 dollars to be Um where you're setting up your long positions above 32 000 Just because there's there's that possibility for something like this where we break it and then it's like psych And then we retest Our range lows down here, right? So there is that possibility so you got to be careful because we're still in this consolidation pattern We still haven't broken uh out of this resistance area So you have to keep that in mind that is a possibility. That's why you want to have an exit strategy if you are entering Um any long positions at the highs you want to always be prepared that this is a fake out And you want to be able to make sure that you have a plan if you're wrong So those are two different orders, uh trade setups there that you can possibly take. Um, if we You know go to those levels Um, or what I've been doing this week I've been looking for moves to the down the bottom of this range and opening positions up there So I was able to catch, uh multiple positions over the week here at 30 000 dollars And we did it literally I probably in the last seven days I've probably taken like I want to say like seven eight trades at 30 000 dollars where I was able to write it to the highs up here Take profits and then re-enter again at the bottom Um at that 30 000 level and I and I also caught this wick down here when I saw it wick down here I was like oh, this is a perfect buying opportunity I was able to enter there and ride this all the way to 31 000 dollars. I literally just closed one of my trades Um less than an hour ago at the current prices around 31 000 dollars speaking about Current prices remember I said when we opened up when we started the show at we were at 31 000 dollars And I said during our live stream Bitcoin's price always goes up at what price are we right now or we were at 31 200 So bitcoin's price has gone up during the live stream So we we're going to keep that record going every time we live stream. Bitcoin's price goes up Um, I so I'm taking the the credit for that. I think uh me and me and btc queen are going to take the credit for Bitcoin's price going up every monday at the same exact time. What do you think? We already know what it is guys If you want bitcoin's price to go up you gotta tune in tune in Yep, I I think I think that that the new the new play now is going to be every time we go live open a long position And then close it at the end of the live stream. I think I think that's going to be the play that we're going to have to do there Sounds very yeah So, um, so yeah, so overall I think I think that's pretty much it as far as what I wanted to cover on the analysis Um, I wanted to talk about how I'm playing this week Um, I gave you guys two different well three different trade setups The first one's above the the year high the second one's at $32,000 That's probably going to be the safer option. And then the third one is trying to buy any pullbacks, right? If we pull back To $30,000 again in this range. Um, I think that's a good buying opportunity there, right? So I think those are the the three setups that i'm going to be watching for this week, of course Things can change right things can always change. Um, and if you want to see exactly what I'm doing, um, every single day You know, that's why I have my discord group for you guys if you if you know, uh, the description on it is The link for it is in the description or you guys can message me whatever the case may be Um, and uh, and I'll give you the info for that But uh, but yeah, that's pretty much the three setups i'm watching this week. Um Which way is gonna go this week? I don't know we're gonna have to wait and see. Um, I I just set up the trades I I look for the for the potential trades. I set them up in both directions and I see which one plays out basically What do you think this week? Uh We going up or down? Whoa, it's gotten quite a bit. Um, I don't want to be greedy but Something tells me we're going up. I don't know something seems very abolished. It's not coincidental that, um Yes, you see is like Hey etf people fix this thing And then they're suing all these other guys and just like getting them out of the way for like old money institutions to come in It's like they're just rolling out the red carpet for these guys. I mean, we all know the the Historic happening bull market is coming. Um, so they're just getting right I feel like everyone's just getting ready for that and um, we're starting to see the slow creep up Slow creep up until you know, we get near last year's highs and then you know to surpass that and um I said last year's high last last bull's highs. Um, and then we go from there. Uh, yeah, this this all seems very, um peculiar and the the way that these things are happening is in I mean, there's there's some places that uh our tightest tightening regulations, um, kind of like Thailand, but it's mostly mostly around, um services that offer like Stuff like Celsius and like Abra more or so just like regular, you know, bitcoin purchases But um, yeah, everything seems very coincidental. So, uh, I'm I'm gonna take a wild stab at it and say we're going green Okay, that's that's what I like to hear. So so if we're going green, then we're that means we're setting new high new yearly highs Um, this week. So let's let's see how that plays out Um, all right, so let's let's go ahead and do uh the q&a to wrap things up So if you guys have any questions about anything going on right now in the market Anything that we covered in today's video Just drop it in the comments and we'll answer that question for you. Um while we're waiting on that I'm gonna I I asked, uh The same question basically on instagram. So I'm gonna take a look at instagram to see what good questions We might have got and then like that we can answer those questions for you guys Well, I think I think the btc screen disappeared I gotta get my charger. I'll be right back. Okay. Okay. Okay. No worries. No worries. All right. So, um, let me take a look here Um, and let me say what's up to a couple people in the chat Uh rivers what's going on? I appreciate it He's in here, uh, mimi What's going on mimi? Uh Oh, oh la lay. Oh la lay. I don't know. That's how you pronounce it. But what's up? How you doing? Uh ducky dave 92. No worries ducky dave Um, yep, the bottle definitely be up on the on the on the channel So you can check that out at any time you like and I'm trying to get I'm trying to get turn this into a podcast as well Um, so soon I'll try I'll be trying to uh, put it up on anywhere where you can find a podcast Just haven't gotten around to it yet um Shazad what's going on shazad Uh, okay So shazad said one will be the next stream the next stream we stream every single monday For the most part sometimes we we may you know Change things up but for the most part on mondays at either one pm eastern standard time or two pm Eastern standard time that that's usually the times where we start to streams And when we do them All right, let me uh, take a look at some questions here on instagram So one of the first questions right off the bat and that now I could really answer it is is jensler resigning And uh, you already spoke about it. He is not resigning. That was misinformation. Um No, he's not resigning unfortunately, right? Yes, he will not be resigning guys. Um, this was a product of Supposing ai probably a person but uh, just just fake news. Yep. All right. Um, let me see what else Um, organic sunburn and salty Said what broker exchange are you using these days? So for me right now I have For trading for day trading. I have two different exchanges that I'm using I'm using bybit. Still that's the exchange I've been using for the last two or three years And I'm using uh mexi It's a new one that I that I started using recently because they do not uh, you don't have to kyc On there. So that is one you can check out. You can check those those two out. I have the um I have my referral links my affiliate links in the description for those If you want to use that to support the the channel, I appreciate it. If not, you know, you could just go to those websites and sign up um for Holding for well for outcoin trading. I use qcoin Um, but again now you're going to have to kyc with them if you want to use it um For on ramp off ramping. Um, I usually use gemini for the most part Um, how how about you? Is there anything different that you do? Um on ramp off ramp, uh I don't really get off too often sometimes I use um What's it called cash up? I guess. Um, that's all now actually just started letting people Put cryptos on and off their platform. So that's also an easy on ramp If you don't want to go through a centralized exchange um, although if they're only like Getting reports. I mean in theory anything that you get on off ramp, um, or anything that you you trade Under kyc you need to report but I guess in theory if some of these companies are asking for only I guess 20 000 dollars to be the threshold And that's not a bad idea. But um, but yeah, no that's that's not good advice guy Well, this is not advice at all. This is not financial advice. These are just opinions. Um, but yeah Anything you you move kyc you should report always always. Um Yeah, so yeah, no not really. I mean I used to use coinbase, but uh, I just don't get off too often I usually stay on I'm waiting for uh For a big boom and then you know one day when I can retire I will Yeah, definitely definitely. Um, let's see uh Is litecoin good for buy long or short sell which what should I use? That's from i'm faiz faizan md. I'm not sure. I'm not sure how to pronounce it something like that Um, basically asking if litecoin's a you know, they should buy litecoin right now or they should short it um, so what The facts right now are there's a halving coming up In a month um So that's why it's been going up right that has to do a lot with why the price of litecoin has been going up Over the last few days, uh, if we pull up the chart here, you'll see this huge move right here We had a 28 day on friday and then we were kind of consolidating here Now I think we still have room to run up a little bit more. Uh, we still have time Now one thing that we did that I covered in the video and that's why I recommend you guys to watch the video That I have on the channel talking about the litecoin halving is that usually about 45 days before the halving um The price had uh topped out and began to retrace now It could there could be an argument because we're already within that period right But there could be an argument where um Because of every all the news and with the sec and all that going after Crypto overall and just so much so many things going on that We could be topping out a little bit later this time around um If not today today, we set a new high in litecoin, uh, which was set up set at 114 um But last time around for example if we look at the last time pre halving Uh, where was it pre halving? We we went up as high as No, that's that's not pre halving. Where's the pre halving here? If one one was it four years ago, what are we in 23? So it'll be what 2020? No, 2019, right? So 2019 um I'm not sure. I don't have them. I don't have the data on me right now, but uh, I think it went up to a high of of like 140 ish, I want to say uh before it retraced. So I think maybe this it's this right here around 140, um, then it retraced right and then it it moved up again And that's when it set it to all-time high um at like 400 or whatever it is and then again, you know retrace Move up that move up that pre halving rally um, you know I I I can see a scenario where where we go back up to to where we went last time right around that 140 range Um, it within the next couple weeks. It would have to be soon though. That's the thing it has to be soon because the halving is within a month at this point, so I would I would expect something within the next two weeks. Um If there's no continuation at that point within the next two weeks, then we might have topped out here and uh And at that point wait for another bottom Before buying again. So usually after the halving, uh, we get that retrace period It would kind of bottoms out and then it moves back up. Um, and that's kind of What I what I'm watching for next So I'm looking the next two weeks to see how price reacts if we continue going up Um, if we do then I'll be I'll be probably my target is going to be between 120 to 140 dollars 120 to 140 dollars Uh, I'll be trying to get out of my light coin positions probably at that point Um, and buying back at a cheaper price potentially. So Those are my thoughts on it. You have any thoughts on that? Yeah It sounds about right for light coin. Um, yeah, I mean Really if you're looking for like actual gains again guys, um, you got to wait till bitcoin starts pumping because that's when everything is going to run. Um, and that That's that. Yeah Now's the time. Um, and if like if jay said if we haven't tapped already then we're pretty much done I mean light coin was the other day like 50 bucks. That was technically a big time to buy right, but um Come here. Yeah. Yeah, definitely. Um Um Light coin has never hit an all-time high before the bitcoin halving. So that's something to keep in mind. Um If if you want no, you want to go for that ride those profits After like when they when it potentially goes back to all-time highs Then definitely after the bitcoin halving is is when that's always happened. So, um, so yeah, definitely um, all right, we'll take this last question here, which is Where do you see the price of bitcoin in the next 20 to 30 years? What do you what do you think 20 to 30? Yeah, that's a way out there. All right Uh Shoot at this rate. I mean it really depends because I think for this time around With this run, I think people are predicting for us to hit Anywhere between 100 to 250 thousand dollars per bitcoin um I mean if all these ETS are actually going to go through and all these big money managers are actually going to push these investment products onto their clients Um, I mean it's trillions of dollars that are can potentially flow into the market uh I mean By then at least a million dollars. I'm assuming like I That were the I mean the amount of halving halvings that would have happened by then like what is that? Five like five halvings. Yeah between 20 to 30 years at least five five six um Yeah, I mean, yeah by then By then your kids should be said Yeah, definitely. Um, yeah, I mean looking that far out it's Super difficult, right? Um almost impossible to really You know try that because in retrospect like like what bitcoins 14 years old technically now And I mean like it went from point zero zero zero zero zero whatever to I mean a high of 70 brand um That is that is an astronomical like jump. Okay between 15 years now Double that time frame. I mean, you know, you can only imagine Yeah, and and you know It's so difficult to to try to to put a number on that 20 to 30 years out from now Even if you look at for example, um, I know one of the really popular Things that people follow to try to look at You know where bitcoins price could potentially be is like the stock to flow model right and even that like by By 2028 it basically has bitcoin at Half a million dollars, right and that's just five years from now so You know in five years If they're thinking that one bitcoin is going to be worth half a million dollars then in 20 to 30 years like what could that be? Right and and it's exactly It's so difficult to really put a that's why it becomes really difficult to really put a number on that because it's just Yeah, like we're talking. We're we're definitely talking in the millions Right, there's some some some of these charts Uh show before 2030. We're already gonna be you know, bitcoin's value will be over a million dollars So um, and that's that's what seven years from now So It's it's difficult man. It's it's difficult to try to put try to put a prediction and I think um What a lot of these models are using is that they're they're using Obviously using bitcoin's history Um, but I think as more and more institutional money comes in and you know more regulation comes in The volatility is going to it's not going to be we're not going to be as parabolic each bull market as we were before So I think each bull market we're going to move up a little bit less a little bit less parabolic than the previous one And I think that just kind of continues on and on and on um So in 20 or 30 years, I don't know man. I don't know even a million dollars Like right now we we're thinking a million dollars. And it's like wow, that's so far away like I it it's it doesn't even feel realistic to think a million dollars Uh a bitcoin could be um worth that but We thought those same things when you know, bitcoin was worth a thousand dollars We're like 20,000 10,000 dollars. Like It feels so unrealistic, right? 50,000 that felt so unrealistic $69,000 that felt so unrealistic and we hit all of those already. So um Even though it's very true even though it feels unrealistic I think it is a reality and it's only a matter of time before we get there Um, I would say just just try to accumulate as much as you can during bear markets um and and You know, it's it's gonna it's literally going to set you up for the rest of your life like That's it's it's changed my life. And that's why I do this Right. Um, this this changed my life forever. So and the way I did it was accumulating during bear markets If I did it anyone could do it Right Exactly. Yep. So so basically guys fingers crossed. Yeah All right guys, so um, so yeah, I think we've covered everything that we wanted to cover on today's video On today's live stream Do you have any last words anything anything else that you want to Mention before we wrap it up Uh catch us on Monday for our next stream is what I'll say Because someone asked how often do we do this and we again we try to do it Every Monday around one or two p.m. Eastern time. Um hit the subscribe button if you have not ready And uh hit the post notification button. So you know when we go live and I think that's it I think I think that we're good for today. Awesome Well, again, thank you guys for tuning in especially if you tune in live and all the way throughout the end Uh, appreciate you guys. We will see you next week. As always peace and love