 What is going on, ladies and gentlemen? Welcome to another live stream. Let's talk crypto with myself, BitcoinJ, BitcoinDaily and the crypto, well, the Bitcoin Queen. How you doing, Queen? How's everything? Pretty good, pretty good. Can't complain, lots of stuff going on in the market this week, lots of stuff. Oh, let's get into it. Yeah, definitely. A lot of things going on today is the 8th of May 2023. It is 1 p.m. Eastern Standard Time. And we're gonna be covering a lot of things today. Right now, the current price of Bitcoin sitting at $27,860. So today we're gonna be covering, we're gonna be talking about what's going on as far as price updates. We're gonna be going over some, the big event on the economic calendar this week, which has been igniting, basically, the crypto's rally all year long. So we'll get into that a bit. We're going to be going over some news updates. There's a lot of things going on. Of course, then we're gonna end it off with a market analysis. We're gonna go over everything. I'm gonna tell you how I'm playing the market this week. And then at the end of it, if you guys have any questions whatsoever about anything that either we cover, don't cover or just have a question. If you wanna know what maybe Bitcoin's queen's favorite color is, you can just ask it in the comments and we will make sure to answer that at the end of the video in our live Q&A section of this live stream. So without further ado, let's go ahead and jump right into today's video. So the first thing that we're gonna look at is the, what's going on in the market? Where's pricing at? How different coins have been doing in the past week since we last streamed? As you guys can see, we're currently sitting at 27,835 dollars. So we're kind of down a little bit. This is a weekly chart here. So you can see that last week we were, we ended the week down as well, down about 2.5%. Right now we're down about 2% for the week, but the week just started, it is Monday. You can see last week we had a lot of volatility with a low of 27,659 and a high of 29,869. So I think that we're probably going to see something similar to that this week. I'm honestly expecting more volatility than last week. So, we'll talk about why and stuff like that in a few. Let's take a look at the rest of the market. As you guys can see here, the basically everything, I'm looking at the 24 hour and the seven day and in the last 24 hours, everything is pretty much in the red in the last seven days, kind of more of the same. Ethereum's actually holding up pretty good versus the rest of the market. Ethereum's up 1% in the last week, while everything else is pretty much in the red for the most part. If we pull up the top performing cryptos in the last 24 hours, let me just change this to top 100 coins. I don't want to see the top thousand coins because then we get a lot of randomness. We see BitGut is the top performing in the last 24 hours, up 6%. We have stacks, we have flair, but really no coin, nothing crazy anyway, right? Now, if we look at the top losers, what a surprise, a top loser in the last 24 hours is Bebe, but because it's had a crazy run basically for almost a month where it's done some insane numbers, it went up to, I think, like 40th in the top 100 crypto by Market Cap, currently sitting at 57, so it's definitely had an insane run. I've been waiting and expecting this pullback. It seemed like it was never coming, but we have some sort of a pullback here now. And some of the other coins we see, Sui here, this is a new coin that dropped about a week ago, down 12% as well. And then a few other coins that are down, it's nothing crazy, but pretty much everything is pretty much down for the most part, as you guys can see here. So let's jump into the economic calendar, and this is the most important part of this live stream probably, okay, guys? So make sure if you're gonna pay attention to any part of the live stream, make sure it's this one, because we got some good stuff coming up this week. So this week, we have the inflation data, the CPI reports coming out on Wednesday. So last week we had the interest rates decision, and just as expected, we spoke about it here, they raise interest rates by 25 basis points. They also, just as expected, they said that they're probably, they didn't say guaranteed that next month they're pausing and going forward they're pausing, but they pretty much, they changed the language on their statement and on their release. And when Pa was speaking in the press conference, he basically said that they're probably going to be pausing, he didn't say it in those words, but that's basically like the way it sounded. But that they're prepared to use whatever tools they need to use and whatever they have to do going forward depending what develops, going into the next interest rate meeting. So that's the big thing that happened last week. As far as Bitcoin, it wasn't much of a reaction of if we pull up the price here, there wasn't too much. And again, like when we spoke about it, I said that you can expect some volatility depending on what happens, but if everything goes as it's already expected then everything was already priced in, right? So we didn't get too much volatility there cause nothing out of the norm happened, nothing that was unexpected happened. And we can see that on the weekly candle, we ended up only down 2%, the highs and the lows weren't that, it wasn't that much volatility between them. Now, this week, I think personally is going to be a whole different ballgame because we're doing the CPI data, CPI report. And the CPI report has basically been igniting this year's rally. And if we pull up here, let me see if I can pull it up here really quickly. Where's the chart? Not this one, wrong one. Here we go. So I'll dive a little bit more into this in a few, but if we pull up this chart here, let me make sure you guys can see the chart, yep. You can see that every week that we've had a big rally like January, February, March, April, those big candles have been during the CPI report, the CPI weeks. So we'll jump a little bit more into this towards the market analysis section of today's live stream. But just so you guys get an idea of what we can potentially expect, okay? As far as volatility, there should be some price movement this week leading up to it and after it as well. And that's pretty much it as far as the economic calendar and what we're looking at right now. So I'm gonna pass the mic on over to the Bitcoin Queen so she can jump into some news. There's a lot of different things going on that's been going on over the last few days or so and going on this week. So Bitcoin Queen, take over, do your thing. What up, what up, what up guys? It's the Queen here, one, two, one, two. Anyways, so I feel real swaggy today because I got my bucket hat on, roughing some cryptape. If anybody knows who cryptape is, you're basically one of the founding entities of the Ethereum Alliance and that mistake and like way back in the day. But anyways, so let's get into some news here. Let's start off with Binance. Binance has been in the heat of it all. They've basically been on a hot seat for the past couple months I would say because I don't know, something about the US trying to go after these guys, not looking good. So first and foremost, let's start with the not so gloomy news. So due to network congestion, Binance halted Bitcoin withdrawals twice within 48 hours, which it was, that this is just basic precautionary measures. Obviously if the chain isn't up to speed, there I think it was like 400,000 transactions behind which is not good due to some network congestion but they said, hey, we are gonna implement Lightning Network. So good news for all the Lightning Network people who like to operate on Lightning Network Binance without support, Lightning Network very soon due to some of these congestion issues. Now, a couple of weeks ago, we talked about how Binance let Russia start moving that Bitcoin around. As some of you may know, Russia is the largest second mining hub after the US right now and there is a lot of cryptocurrency coming out of there. Now, because of this, the DOJ has launched an investigation against Binance to see if they are helping Russians, I guess, conduct any criminal activity or move around sanctions. So as we know, there is an ongoing war between Russia and the Ukraine. Binance said, hey, these citizens are hurting. There's a lot of miners here. We gotta help these guys out. They let them get back on the platform and now the US is saying, wait a second, you're helping these people avoid sanctions and now there is an investigation. Ironically, Binance has been helping, I guess, basically track down criminals amongst some other investigations. Recently, they helped track down people who perform child abuse, trafficking, drug trafficking and some stuff on the dark web. So they do seem to be on the right side of the game. They're basically the DOJ is trying to find out if there is someone within the organization that was helping people in Russia do things under the table prior to them opening things back up publicly and that seems to be in question right now. So good luck to Binance because it seems to be a very sticky situation, although they do seem to have, I feel like Xianyue always has the best intentions with these things. He seems like a pretty all right guy. So let's go on to Coinbase, which is considering the AUE. So the Middle East seems to be a hot topic. We've seen the, I guess, feud between Singapore and Hong Kong as Hong Kong used to be a very big crypto hub prior to COVID and all the lockdowns and everyone pretty much moved all that energy to Singapore. We've been seeing Singapore and Hong Kong clash a little bit but Dubai has seemed to also come amidst in the spotlight during this period of time, also throughout COVID where Hong Kong had shut down. There's been a lot of tech hubs that have came and popped up in Dubai, which is interesting. And now we're seeing that not one but two companies are looking to move some headquarters there. Coinbase is one of them. They are looking to open an international hub in the Middle East as well as Ripple. Ripple is also looking to do something in the Middle East, Brad Garlinghouse, he made an announcement on Twitter saying that they are looking into moving an international hub because there is about 20% of the consumer base that operates out there and it is growing. And amidst uncertainty in regulation here in the US, it is seeming like a sound and safe mood. So I think over the next few months we're gonna see a lot of companies probably flushing out into those areas. I feel like a lot of people thought that was gonna be the case for South America. Obviously the president of El Salvador has been pushing that pretty hard. He signed into law officially that there is a 0% tax on any technological advancements in El Salvador. So it's seeming promising but it's not... I think a lot of people have an issue with the development of some of these South American countries versus things that you would find in Dubai and Middle East. So Dubai is pretty much like Miami but people can actually afford their cars there. Miami is all like flashy and you know. But anyways, I think Dubai and other countries in the Middle East like Qatar, Qatar is actually really big on mining because energy is so cheap out there. But I think if these places are really going to start seeing a lot of influx with crypto, there is a lot of places in Africa as well that have had an influx in crypto. So that Mediterranean area really will probably benefit over the next couple of years because of all the uncertainty that's happening here in the US. So I went for China though, speaking of Hong Kong. So China approved for small debts to be resolved using cryptocurrency. So there's been a blanket ban across China where you can't use crypto. Obviously we know that all the miners got kicked out. There's just a huge blanket ban. Hong Kong's been pushing really hard to kind of step away from the overall China narrative and kind of have their own regulations in place for innovation. But the Supreme Court did say, hey guys, if there's a small debt, you guys can sell it in crypto as long as the party agrees. So that's actually pretty good because that is a foot in the right direction once again. So dough, Mr. Kwan, as we know, got arrested a couple of weeks ago in Montenegro and the Montenegro priest still has him. Right now, basically the US and South Korea are fighting over him. Man, the US loves to get into everyone's business. This guy's not a US citizen and they're fighting over this dude. I just don't get it. At least I don't think he is. He does speak English, but I don't think he's a US citizen anyways. So they want to be involved in everything. What is it? They want to be involved in everything. They want everything, everything. And it's like, it blows my mind. And it's funny because there's been so many times that the Supreme Court, not the Supreme Court, I guess the FBI and the SEC have been like interviewed and they have confirmed that they will overstep their jurisdiction and boundaries in order to protect Americans. And it's like insane, it's insanity. And it's like, man, you guys are just like going after everything and anything you can like find and like niche and it's crazy. Like there is a guy who got arrested. I didn't know this part, but he was using fake paperwork, by the way. He was using fake paperwork, which is why he got arrested. I don't know why he was traveling. If I was wanted and I lost people billions of dollars and people killed themselves, like you're never going to see me again. Like I'm going to fake my death. Anyways, so they got this guy. They seized him up in Montenegro. He was using fake paperwork and basically South Korea is like, give us him. We've been looking for him, extradite him. And then the US is like, no, give him to us. We charged him too. And it's like, what are you talking about? It's absolutely insane. So yeah, the Montenegro police prime minister basically said that they are ready to extradite him to whatever country is looking for him. And very, very broad. But yeah, so Doquan is facing up to 40 years imprisonment at this time, which is very unfortunate for his wrongdoings with Terraform Labs. So more on that story coming soon. So let's talk a little bit about the US banking system. So I think since last time we spoke, I think another bank had collapsed since then if I'm not mistaken. And or was that, was that over more than a week ago? Yeah, last week, yeah. Yeah, OK, so a bank, another bank has not collapsed. So I think we're at four now, right? Is that right? Yeah, so I think the news last week with the banking was JPMorgan acquired First Republic Bank, which collapsed. Which failed. Right, which failed the week before. And then last week, we saw PAC West's bank court drop like 90%, and we saw Western Alliance also drop like 80%, 90% as far as their stocks. I don't know if their, I think Western Alliance dropped because there was a rumor that they were looking to sell their bank. And then PAC West, I'm not sure exactly what's going on with it right now. But I know they were having issues. But they haven't failed. Right, so we're good. But there is still a lot of uncertainty. So when Jerome Powell raised the basis points, those 25 basis points, he basically came out and said that the banking system is as stable as ever. And that it was insane to me how he just, it's crazy how some of these guys just like look into the camera. He was even looking into camera on us. He was looking down at his paper the whole time, who just lands up. Because you can't look somebody in the eye and just like lie to them, you know? So pretty much the US is thinking about banning short sales on some of these stocks. Because we did see what happened last week where these banks were down 80%, 90%. It's not your average Bitcoin, actual regulated stock. And this is actually news coming from Jakey Morgan. So obviously the CEO of Jakey Morgan is actually on the head of the Federal Reserve Board. So a lot of these things that come from them are probably true because chances are they're talking about it. So he's warning basically US traders to stop all these sales of these bank stocks because chances are the US is gonna ban them. They're gonna ban these short sales. And there's also a rumor going around, not from Jakey Morgan, but from an analyst saying that there has been a lot of people that have been scared. So they've been withdrawing their money out of the bank. And it's been causing kind of like a mini bank run. And basically the US is going to ban withdraws over a certain amount as well. Those are the two things that we could face over the next few weeks, if not days, depending on how all these things pan out. I thought that was kind of insane, in my honest opinion. But yeah, this is pretty much where we're at because the SEC needs to get a hold of the situation. It's not looking good for a lot of these banks. They are trying to prevent any other banks from collapsing. And if people are selling these banks down to 80, 90% from where they opened day of, that is not looking good. And we saw that already happened, how Jay mentioned with two. We can't see it happen over and over again because that's actually gonna cause a liquidity crunch and no bueno. So that's pretty much where we're at. They're pretty much claiming that it is manipulating the market, the way people are just short selling these stocks. And because they feel that the market is being manipulated, they will be putting a ban on it potentially. But that is circulating in the news this morning. Any thoughts on that, Jay? You know, it's kind of the same thing, you know, when they're losing, if they're losing money, then they change the rules of the game, right? So that's kind of how this game goes in the financial world. You gotta be able to adapt to whatever they throw at you. So I mean, I understand as far as, you know, what's going on with banks and stuff, but you know, they're always changing the rules. So you gotta be able to adapt to if you're trading any of these things, you know, you gotta be able to adapt. That's really what it comes down to at the end of it. But we'll see what happens. Cause they keep, I mean, they keep raising the interest rates, that's exactly what's affecting these banks. But they are securing the banks and nobody's lost money as of yet. So you know, if anyone was to lose money, that's when that would be the collapse of probably the dollar. So I don't think that we'll ever get to that because the government's never gonna let that happen. They'll just, whatever amount of money is needed, they're gonna print it out, right? So yeah, that's pretty much where we're at. And print it out because inflation isn't real. And here we are, which is very unfortunate. Yeah, and you saw that last week, they want now to tax Bitcoin mining 30%, another 30% on top of whatever. 30%. That was something that came straight from the White House. It's actually not looking very good for Biden, unfortunately. There's, I think a lot of people, especially with the crypto bros and people within the, they're being affected by what's going on right now are really hurting and they're feeling the repercussions of everything that just has gone across the line. And I think right now the issue that we're really facing is we have somebody who's pretty much very far left on trying to impose all these regulations, all these taxes, basically be a harm to miners. And this is why Texas put up that bill saying, hey guys, you cannot impose on our miners. And they put out that bill basically to protect them because this was coming, right? Like you can't say, hey, you now owe federal tax of 30% on this thing that you, it's like you haven't even made profit off of yet, right? It's like you minted this Bitcoin, great. And the crazy thing about this is, it's like they're charging it on the electricity and that doesn't mean that you actually got a block reward. You know, like that you could have somehow not gotten a share of that reward because your hash power wasn't strong enough, wasn't high, whatever it is. And you still have to pay on that electricity but that doesn't make sense just in an industry's perspective because nobody charges anyone tax on electricity, it just doesn't make any sense. But besides that, basically what's happening now, we saw that DeSantis last week said, hey guys, CBDCs are banned, clearly in Florida, Biden wants to kill crypto, blah, blah, blah, blah. And we're actually now seeing democratic candidates come out because the election is right around the corner guys. 2024 is an election year. We are in the middle of 2023, it is May 8th of 2023, 2024 is an election year. And we are seeing democratic candidates come out and go, hey, we're peaceful, we're crypto friendly, our hands are up, our hands are clean. And it's insane because there's so many people who are affected across the board. Like most millennials and like 40% of like millennials and Gen Z or something like that have crypto. Like that's a lot, like that's a lot of people. Only a quarter of the country like voted, voted the president that we currently have into office. You know, like there is more people who hold crypto than like the amount of people who voted the president to office. It just like the math right there, it's just insane. So yeah, we're seeing some democratic candidates come out and say, hey, we're crypto friendly because we have seen that a lot of the Democrats in office right now are just like, yeah, get those crypto bros, take them down. And in reality, that is not very good for their side. It is, it is just not. Cause a lot of people see what's going on with the banks. They know this Bitcoin bull run is coming. And once it runs and the banks are going down, it's like, it's just like a dystopian reality. Ironically, I think Kennedy, Kennedy Jr. John Kennedy Jr. is going to be speaking at the Bitcoin conference in two weeks. He is a Democratic candidate running this year. And he's speaking at the Bitcoin conference in two weeks. And we had, kind of crazy. And we had Ty Cruz speak recently at consensus. He said that he buys a dip and that he was very happy to buy the dip. He has a, he DCA's every Monday. So I thought that was pretty interesting. Yeah, so I mean, it's, I don't know. I think some of these guys that are, I said John, I met Robert F. Kennedy. I think it's very interesting that some of these guys are just like, wait a second, we got to get on the right side of this. But, you know, some people get it. Some people don't, we'll see how these things pan out. And, you know, it's very interesting. It's very interesting. And I think a lot of politicians don't, they don't, it's not that they don't understand. They just don't care to understand. And they don't care to have things, you know, where it makes sense. They just rather not have it because it's, you know, it makes their jobs harder. Yeah, for sure. In my opinion, that's pretty much what I see, to be honest. They're going to get on whatever side of the fence gets them the most votes at the end of the day. At the end of the day, politicians want votes. Whatever side of the fence gets them the most, that's the side that they're going to be sitting on. What they need to do is, if they're going to tax Bitcoin mining, tax electricity on Bitcoin mining, then there should be a tax on the money they're printing. And a percentage of all the money they print should go out to the Americans. I mean, that's the same thing, right? Taxing electricity? Well, we should tax them printing. So anyway, let's go ahead and jump into the next section here. We're about 30 minutes in now. And now we're going to talk about, we're going to break down the market analysis. We're going to jump into the market analysis. Going to talk about CPI week, how it's been performing year to date so far this year. And we're going to take a look at current support resistances and what I'm going to be looking for this week, how I'm going to be trying to play the market this week to make some profit. So hopefully I can make some profits. Hopefully I can make you guys some profits using these major levels that we're going to be looking at. So let's go ahead and jump right in. Let me put the chart here on the screen. So as you guys can see, this is the weekly chart here. Currently down, we're at 27,900. So starting the week off in the red. But the real thing that I want to look at here is, let's jump into the picture that I showed you guys earlier. So let me pull it up here, which was this picture right here. So as you guys can see on this picture here, right now, if we, if, well, not if we, but what's been going on lately is, if you look at January, February, March and April, right? You can see that we've had really massive runs throughout that week, right? Once a month, basically we've had these massive run-ups and that's been leading this rally so far. So if we look here and if we pay attention to what week those rallies were in, we will notice that those rallies happened during CPI week. So in January, that happened on CPI week. And this is, you can see here, mid January, basically the second week. So CPI data usually comes out second week of the month. So here's the start of January right here. Second week, boom, CPI, right? February, second week, boom. We have a 15% candle. March, second week, boom. We have a 27% candle. April, second week, boom. We have a 9.62% candle. So if we get something, if we average those out, that comes out to like 19%, right? Now I don't wanna say that we're gonna jump up 19% this week. That is a big jump. And even though we've gone over 19% twice so far this year, I don't wanna say, I like to always be a little bit more conservative, right? So, and another thing that I wanna say about the CPI week that every time we've had CPI data release, we've set up a new higher high. So in January, we set up a higher high, right? And then when we came into February, boom, we set up a new high. When we came into March, we set up a new high. Came into April, set up a new high. So if we continue with this same pattern, the same trend, I'm expecting us to set up another new high. And that would be, doesn't mean that we're gonna go all the way up to 34,000, which would be the average here, taking all these months into consideration. But if we're a little bit more conservative, let's say just above 31,000 to 32,000, right? 32,000 is another major point of interest. It's another resistance level. So that could be the play. That could be something that we can potentially see if we see this trend and this pattern continue. So that's all obviously going to depend on what we get as far as the news and the data that we get on Wednesday and all that, that whatever narrative is around it at that time. So it's something that we're gonna be watching closely because we're definitely expecting volatility this week. As you guys already see here, we're expecting that volatility. Now the only question left is in which ways are we gonna go? Which way are we going to go? So let's take a look at the current resistance and support zones here. As you guys can see, we basically have the same thing. We're stuck in the same exact area. We've been here since the March, since in March when we broke that, this is actually the week of the CPI. We had a 27% run up. Then we, for three weeks, we're basically just ranging. Then in April last month, we had a run up on the week of CPI but we retraced that whole move completely and we had an engulfing candle here that took us all the way back down to this support here which is basically around that $27,000, $28,000 and currently we're still sitting there. So we've been trading between 27 to about $30,000 for the past what, one, two, three, four, five, six, seven, eight. So for basically two months, we're in this range, right? Between $27,000 to $30,000, we had one time that we broke just above it and that was during last month's CPI week. So hopefully we're looking for something similar to this where we can get a, use this as a catalyst this week for another move up to potentially break above this resistance here. So what I would like to see is us break this resistance finally and set up a new higher high. Now, a new higher high, what could that look like? We already spoke about possibly $32,000 that would be right here but if we test this trend, so if you look all the way back to January, we've basically had this resistance level where we've continued to set up the new higher highs, right? So we started off over here in January then we retested it again back in March and then recently we retested it again last month in April. So can we retest that level again? Well, if we were to retest it this week, that would be up to around $34,000, $35,000. So I mean, that would be great but that would be a pretty big move from where we currently are right now. That would actually put us probably, that would be, well, I mean, it's a 21% move. So although it seems really big, it's not that big but again, I like to always be more conservative than anything else and like that, we can, if we blow above our conservative estimations, then that's great. So that's currently what I'm looking at, right? So we have the main resistance zone if we can break above this, test this resistance line and then retest this resistance as a support, that would be beautiful. That would make this current resistance that would then turn into support would be the buying area for a pullback to then continue that trend up. I also wanna see this trend continue so that we can just continue setting up these higher highs and higher lows here. So we had the higher high, higher low, higher high, higher lows, higher high, higher lows. Now we're waiting for a new higher high. That's currently what we're waiting on. We'd love to see it up here around 32 to $34,000. So that's basically the overview of what we're looking for, what we're watching for, right? The main resistance right now still the same level between that $30,000 area in that range and the main buy area right now is gonna be the same zone here that we've been watching for the past two months, right? And that's between that $27,000 to $28,000 range and that's where we currently are sitting right now. Just below $28,000. So it's not a bad area to open up some long positions. If you're opening up long positions then you do have to be careful where you're putting your stop loss because you don't wanna get faked out, right? So what the market likes to do a lot of times is you can see it with this candle here. We had this low form here and what happened the next week we went just below that low just to stop out anybody that had stops there and then price bounced right back up. And then we can see that happen again. We had a low here and the next week we dropped below it, right? We had that wick there and what happened this week? This week we dropped below it, basically tried to shake everybody out, tried to stop people out and then we moved up. And that's something that we can potentially see here if we're setting up orders here. So you have to be careful with it. What I'm doing right now, I don't mind an entry around this current level or was currently at. What you can do, you can potentially wait for a break back above 28,000 and kind of use that as a breakout entry if you don't wanna enter here or you can wait for a lower price closer to 27,500 or as close as 27,000 as possible and set up an order there. Setting up, I would probably set up my stop losses below this wick here. So this wick was the lowest 26,925. So the closer you can enter to the bottom of this wick then the better your risk to reward will be, right? So what I like to do is open my initial position right around here where we're currently sitting right now and then have a second entry set up somewhere. So let's say I enter here at 27,800 and I set up in another entry, let's say 27,200, right? Now that would give me an average entry of about 27,400, 27,300 more or less, right? Depending how big my second order is. So what I like to do usually is my first order. I wanna make it a little bit smaller. My second order may be a little bit bigger since my risk to reward is better at that point. And that's how I'm probably going to set it up so that I can buy in this green box. Then I'm setting up my stop losses below this wick here. And again, depending on your risk tolerance, you could have it right below this or you could give it a little bit more room. It's up to you because the thing is markets like to fake you out. Markets like to chase these wicks, drop right below them and then move up. So just be careful with that is the only thing that I would say. If you get stopped out and you see the price start to move back up, then you might wanna buy right back in around 27,500. If you see it pop right back up above 27, you might wanna either enter there or enter if you see it continue up above 27,500. So those are a few different things that you can do with the current market with where we're sitting at right now if you wanna play a long entry here for this week's CPI data. Now, like we said before, I'm expecting volatility. Now, the move, even though all year, during CPI week, we've gotten that move to the upside. There is a potential that there is bad news and we get the move to the downside. In that case and that scenario, then the next support is pretty much $25,000. This is my next green zone. That's why you wanna have those stop losses set up. You wanna make sure that regardless what happens, you're able to minimize your losses, just stop out there. Potentially, if we wick down below this area, this is potentially a, you can open up a short position on a break below this low. We'll be setting up basically a new low at that point. At that point, there's really not too much that'll be holding the price here. We could retrace all the way back down to $25,000 in that scenario. Also, another potential retrace below $25,000. We could expect to hit $20,000 in that scenario. Again, I don't think that will happen, but it's always better to be prepared for a scenario to the downside so that you know how to play it as well as a scenario to the upside. So for the upside, like I said, I'm looking to buy in this green box. I went along here and then as price moves up, I start taking profits. As we get into this red box, I start either taking profits completely or setting up a trough stop so that if I see, you know, we start wicking like this, I'm taking my profits and getting out of my positions and then waiting for again to get into this green buy box here for me. So that's currently the way I'm playing it. If we do break above this resistance, then that could be a play as well. You can set up an entry of maybe a breakout order above this high here. That's basically sitting at $31,000. I think if we break above $31,000, $32,000 is definitely a real target there at that point. So I'd be taking profits probably around there. And there's a potential that we can break above and beyond that as well. It just depends how much momentum we get this week, you know, with everything that comes out during the CPI data and anything else that happens within the market. Remember, there's always things going on. There's always news events, news catalyst events. And you can use news catalyst events as opportunities as well. There's a lot of times where a news catalyst might push the price really, really down right back into this level. And this is a long opportunity that you can take it to write it back up. That's happened several times. It happened two weeks ago when we had the fud of that Mt. Gox funds were moving, that the government funds were being sold, et cetera, et cetera. We had a move from $29,000, almost $30,000 all the way down to $26,000. That was not only a perfect selling, shorting opportunity here in our red zone where we've been ranging, but a perfect long opportunity once we got back down here in the green zone. So there's always opportunities in the market and we're gonna see plenty of more opportunities this week. You know, whenever something's overextended in either direction, that's always a good time to evaluate where the market currently is. And possibly open, have an opportunity there for either a long or a short. I think that pretty much sums up everything that I wanted to cover in the way that I'm playing it this week. Again, I'm keeping it as simple as possible for you guys. Buy in the green zone, sell in the red zone. If we break below or above any of these levels, then we just have to reevaluate at that point. But for now, don't overcomplicate trading guys. Buy in the green, sell in the red, do it over and over as many times as you can. Look how many times you would have been able to buy low and sell high here if you would have been doing it over the last month, right? You would have been, I'm telling you making some crazy profits here over the last month, just keeping it super, super simple and doing this. And all you're doing here is basically charting a main support zone and a main resistance zone, buying at support, selling at resistance. That's it, that's all, a lot of it has to do with just keeping it simple. A lot of times we like to overcomplicate it, keep it as simple as possible. Trading is already complicated enough. So that's basically what I'm looking for, what I'm looking at and what I'm recommending you guys to watch as well. So put these areas of interest in your charts and watch those levels. So I think that's pretty much it. If you guys have any questions about either anything that I just covered in the market analysis, if you have any questions about anything that we've charted in the video today or just anything in general, drop it in the comments and we'll do a Q&A really quickly here to wrap things up. So I'll give you guys a couple minutes here to see if you have any questions. If not, we will wrap things up here. While we're waiting for any questions to come in, Bitcoin, what's your take on this week with Bitcoin's price and CPID and all that, what do you think is gonna happen? Do you have any thoughts? At first I'm interested, well, I mean, obviously we had another raise in these, I guess, these interest rates. So the dumping was inevitable. It's interesting, I'm interested in seeing what's going to happen with these upcoming reports and in the next month. As much as I wanna say, it seems insane for the interest rates to go any higher. I don't know, it seems also inevitable. These guys are basically pushing everything to the brink of extinction at this rate. So we'll see. Keeping it slow and steady, I think is probably the safest play because the state of the economy is very uncertain. It just seems insane. The housing market's still up. High interest rates, high housing prices, high asset prices. Let's see how the short selling ban rolls out. Let's see if there will be a stop on consumers, pulling out their monies out of bank. I think that will have a big play in the market if that actually happens. If there is actually a ban on short selling some of these assets, in addition to them not letting you withdraw from the bank, that's going to be insane. I think that's gonna be a signal. That's gonna be a buy signal, in my opinion, because I mean, wow, let's talk about it. Also, I guess we'll have to steer clear or not steer clear, but stay steady, looking to see what happens when Bitcoin is, or not Bitcoin, I'm sorry. The anti-CVC stuff is signed into office this week here in Florida. I also believe that New York put out a bill and there is something going through Congress supposedly at the moment around some regulation as well. So everybody sit fast, hold onto your seat, put on your seatbelts. We'll see how this ride is going to pay out for us. Yep. All right, so I don't see any questions in the comments, but I did do an EMA yesterday on Instagram. So I have some questions here that I got on Instagram and we'll just kind of run through a few of these. So one of them was, in this state, they usually ask these type of questions. May, do you think we're gonna dump or bump? What do you think? In May? Yeah, for this month. I think May is usually historically a dumping month, or is it, so usually right before the Bitcoin conference run and then there's kind of a steady sideways crab, if not a dump, usually. So probably if we don't go sideways, we may just dump a little bit more. And it really depends to, it really depends with all the upcoming news, right? So this is a game of current events, unfortunately. If the market is performing iffy, depend with these short sales, and if we see that, if we also see that ban, I think we will pump because pretty much your money is not safe within a US bank, it is safe on the market. And chances are people, that's where people are gonna put their money, within Bitcoin. If not, then we'll go sideways and we might dump. But it really depends on these current events because it's, I mean, we're on the edge here, people. Like this isn't a game, you know? Yeah. If things were so volatile, it'd be a different story. Yeah, I think a lot of it's gonna probably depend if for this month, on this week probably, depending on what happens this week, I think pretty much they'll set up the momentum for the remainder of the month. So that's pretty much what I'm waiting for, see what the CPI data comes out and how the market reacts to that. Like I said, we could and it could end up being where we get a big run up this week and then last month, we just retraced the complete move and went right back to the levels where we were. So it could be something like that and we just end up staying in the same range until we see something else. Because I think a lot of the market is just kind of waiting and unsure of what's going on with the economy if we're in a recession or not. I think what is going on, right? Are there regulations coming to crypto or are there not? Like what is going on? I think a lot of people are just kind of sitting back waiting trying to figure out what in the world is going on in the market. Yeah, yeah, no, it's very, very, very uncertain. And to say it's gonna dump or pump is like, it's almost like there is no right answer right now because there's just so many possibilities. There's so many things circulating. There's so many ideas in the news of what may or may not happen. It's kind of insane. Right, right. Another question here, and this is one that we get all the time. What cryptocurrencies are worth investing in long-term? I always say, stick to the safest ones. You know, you consider blue chips, like you consider blue chips in the stock market, Apple, things like that. There's blue chips in the crypto as well. So, Bitcoin, Ethereum, things of those majors, top 25 coins, if you're just starting out, I would start there. Don't start playing that meme a lot of it yet. I would build up a foundation for your portfolio first. Stick to the top 25 coins that are mostly made up, you're gonna realize they're made up of there ones, layer twos, things like that. That'll set up a solid foundation for you where you're not investing in projects that have no utility and are probably going zero. So, I would start there, and then after that, take a little bit deeper and start doing a little bit more education on how to research projects and upcoming projects and companies and all that, and then you can start putting small amounts into different things further back in the market cap. Because you can definitely make money, but you have to know what you're looking for, basically, so yeah, that's what I would recommend. Stick to the top 25 layer ones, layer twos, coins and projects with utility, and then go from there. What do you think? I think you have a similar answer probably. Yeah, pretty much, I mean, sounds about right. Man, it's like a user word utility, and I'm thinking of all the Pippet. Pippet got a $2.7 billion market cap, what was it like two days ago, yesterday, something like that, which is insane. Insanity, actual insanity, and it's basically listed on every exchange right now, except for Coinbase. I think people are pretty much taking Coinbase as like a signal at this rate. Because, I mean, OKX, Binance, all of them, just all the important ones that you can think of top of mind, like mine is Coinbase is basically listed on the coin, and it's quite funny. Yeah, it's crazy. I'm enjoying it. I'm enjoying this, meme culture is real. Yeah, and now that you bring that up, I'll bring us the last question that we'll cover here today. Are there any meme points that you're buying, and how do you find meme points before they go parabolic? Do you have any answer for those? So I think that the, honestly, the best way is pretty, in my opinion, has been Twitter. Twitter, usually they'll start talking about things, and once they're kind of like, legitimized enough, it's OK. I think the thing you have to be careful about is buying into random meme points that a bunch of influencers are pushing. If it's like, hey, this guy, I didn't, so for example, Pippa, I didn't see any influencers pushing it. I actually saw influencers against it. So that was a virtue signal right there. And then the fact that they had done a ban on a $27 transactions from, I think, a transaction that came out of North Korea or something like that, there's a valid that, put in $27 worth of Pippa, and they blacklisted it. And I think now it's almost worth like, it was like $8 million, somewhere around there, last I checked, it was pretty high, on its way to nine pretty much. So it's one of those things where if you can see that the project has better intentions than most, which is not getting a bunch of influencers show and not, and probably even blacklisting addresses, those are probably not going to be rugs. And that's probably one of the safer ones. But in order to get on it early, you kinda have to get it before it starts getting listed everywhere. As soon as it started getting listed everywhere, that's where it's like, okay, maybe it's too late to buy in. I think there's a lot of, there's definitely a community that's been built from a lot of these holders that kind of like join together and say, hey, we're just gonna hold each other up diamond hands, which is why it's up at like, almost a $3 billion market cap, which is insanity. And yeah, I mean, it's, I haven't seen anything quite like Pipi. I think Turbo was the other one that people were talking a lot about. The same situation, but a lot of the ones that influencers were pushing have turned out to be rugs. And yeah, it's quite sad actually. Yeah. Yeah, it's the thing with meme points, it's basically usable chairs right here. You're in there, you wanna be out before the music stops. So, I know a lot of people, they just start throwing money into any meme coin now because it's all the rage, so they're just hoping for one of them to become the next baby. But one of the things that you can do that, and again, I think a lot of it starts also on social media and one of the things you can do, you can actually track some of these wallets. So what you can do, and this is what some people do, is you can look for the top wallets that got into Shiba Inu, for example, before it blew up, then look for a wallet that got into back there before it blew up. If there's a wallet that got into both of these before it blew up, which they are out there, that might be someone with some sort of inside information, right? So maybe that's something you can, where you can do is track, try to find multiple of these wallets that got into, to a meme point really early on, before they blew up, that are worth lots of money right now. And look for that confluence. If there's multiple wallets that got into both of those projects before they blew up, and they get into a new project, and they're all kind of getting into the same project, that might be a hint to you to get into that project. So I'm not saying to follow people blindly, but it might open your eyes to a new project that you might not have known about in getting to it. I might do a video on this down the line, but you can use things like D-Bank to follow people's wallets. You can use things like look on chain to see what their on chain activity is. So there's multiple ways that you can follow people and you can see what they're buying, selling, and what they're holding. So I might do, like I said, that's the gist of it. It'll take a long time to really break it down. So I might do a video on that sometime in the near future. But yeah, I think we're gonna wrap it up with that one. We are at 2.59, so we've been live for 59 minutes. I'm actually about to be exactly an hour. Any final words? Come to Shitcoin guys, Shitcoinconference.com. Come see Jay, he's gonna do his technical analysis. It's gonna be fun. This conference has actually gotten quite the buzz. It's very like, just, it's going. It's gonna be fun, it's gonna be great. I'm getting messages left and right of people like asking like me for like more information. It's gonna be packed. I'm actually really excited. It's a party, so come have fun, come have a good time. Yeah, it's in Miami, May 17th, 5.30 p.m. Shitcoinconference.com. There you go, I will be there. I will be doing, I'll be breaking down, going over to Shitcoins, right? And basically going over, if you would have bought the, on these Shitcoins, the top 100 Shitcoins, previous bear market, what would that would have looked like than in the bull market. So we'll take a look at, well, I'll be talking about that. You guys should join us for sure. And that's pretty much it guys. Thank you guys for tuning in. Make sure to smash that like button on this video. Make sure to leave any comments with anything, any suggestions, anything you wanna ask, anything you want us to include in these live streams. And that's pretty much it guys. We will see you next week. As always, peace and love. Have a great week guys.