 All right, here we go. Ladies and gentlemen, welcome to another episode of Let's Talk Crypto. This is actually episode 17. I went back and counted how many live streams we've done once we started doing the Let's Talk Crypto. And this is actually a 17th one. Can you believe it? Today I have here my co-host with me, the Bitcoin Queen. How are you doing, Queen? Hey, man, it's all good. It's raining here in Miami, as you can probably also see outside your window. Life is good, otherwise in that, I mean, a lot of stuff is happening. Yeah, definitely. There's definitely a lot going on in the, not only in the crypto world, but just in the overall markets with so much going on. So today, we're going to be jumping into a lot of that. We're going to be talking about, of course, what's going on in crypto, where the prices are at for Bitcoin, Ethereum, and some of the outcoins. We're going to go over the economic calendar for the week. So we're going to go over what happened last week. Last week, we got the CPI data. We got the rate decision. And then we're going to, of course, go over some news updates with one of the big events that happened last week, which pumped up Bitcoin's price a bit back from that drop that we saw last week. So yeah, let's jump right into this. And of course, at the end of this, just like we do at the end of every live stream, we're going to do a Q&A. So at the end of this, make sure if you have any questions about anything that's covered in today's video, or any questions in general, you can drop it in the comments and we'll be more than happy to answer those for you guys. So let's go ahead and dive right into exactly what is going on in the world of crypto right now. As you guys can see, Bitcoin's current price is sitting at $26,550 right now. It is almost up percent on the day. Remember, today is a holiday in the United States. It is Juneteenth. And so the markets are closed. So the stock markets closed. All traditional markets are closed. So there's not going to be a lot of volume, like you would usually see on a Monday. So that's something to keep in mind for today throughout this stream. So markets will be reopening tomorrow. So tomorrow it'll go back to the normal markets. But as of right now, that's why there's not too much going on in the markets today. Other than that, we can see that last week, if we look here at the last week in the market for Bitcoin, although last week was pretty much one of the worst weeks we've had in a while, right? It actually, we actually ended in the green. So we did set new lows, but we still ended in the green. You can see here that we ended up the week up for 1 and 1 half percent. That comes following a 3 and 1 half percent decline and a 4 and 1 half percent decline the last two weeks. So we might be getting a change of pace here. One thing to note that we still are under that 200 week moving average there. We'll jump into that a little bit more when we do the analysis here on Bitcoin. Let's take a look here at the rest of the market. What is going on and how things are doing? So as you can see, of course, Bitcoin is up today. Ethereum is also up today. Wait, is it up today? No, and well, in the last 24 hours, it's actually down almost 1 percent. In the last seven days, it's pretty much flat. Okay, you can see the last seven days, Bitcoin is actually up 3 percent, 3.2 percent. And, you know, you kind of look across and if you guys hear any thunder and lightning, there's basically a hurricane out here right now. So I apologize in advance if you hear any craziness. Of course, it waited for the live stream to begin for this crazy storm to start, but we'll get through it. We'll get through it. As long as we don't lose electricity, we should be fine. But yeah, as you look across the market, for most of the market, we're seeing a lot of things are flat or might be green, especially in the last hour, we've seen a bounce here. So you can see that across the markets. If we look at the crypto bubbles, this basically is what's been going on in crypto over the last seven days. So the bigger the bubble is, the higher it's gone up. So you can see that there's a few coins here that are actually up in the last seven days here. And there's some here like BTT that's down minus 12%. Let's look at the top gainers and losers here in the last seven days. And we'll see here again, TWT, which is Trust Wallet, is actually the top gainer this week in the top 100 cryptos. It's currently up 31.6%. CASPA is right behind it at 26.7%. And then we have everything else that's up. Maker at 14%, GMX at 12.5%, Stacks at 12.3%, and so forth. So we've had a big change here. If you looked at this, probably like a week ago, you would have, this did not look this way. Actually, I think on Friday, I think it was, I posted up a photo of the top gainers and losers and there was only one crypto. I think it was CASPA that was green for the week. So definitely a big change. We're starting to see a bump here in the last few days. As far as top losers, BitTorrent is the biggest loser in the last seven days in the top 100 cryptos, down 12.2%. 8 coin right behind it at 10%. EOS at minus 7.6. And it goes on as far as any big projects here. The biggest losers are Cardano is down 5.8%. We see XRP down 5.2%, Polygon down 5.1%. A lot of that is gonna have to do with, of course, Robinhood delisting, Cardano and Matic, which was announced about a week ago or so. And for XRP probably has to do with the Hinman documents that were released last week. I think people were looking for a more bullish release as far as the XRP case. But the Hinman documents didn't really make much of an impact in that XRP case. And we'll talk a little bit more about that when we jump into the news. So let's talk about what happened last week as far as on the economic calendar. So the main thing last week that we got was on Tuesday and Wednesday. Remember we spoke about it? Tuesday we had the CPI data, which was released. It ended up, inflation went down from 4.9% to 4%. So, and we ended up beating expectations. Consensus was at 4.1%. So we beat that. But if you look back here in the market on that day on Tuesday, there wasn't much of a reaction here. So we can see here, let me see. Tuesday was this candle right here. There really wasn't much of a reaction. So we had a very, pretty much a flat day, right? We had some, we had a high, we did have a high of 26, 420 and a low of 25, 700. So it ended up opening and closing basically in the same spot though. And that's pretty much because everybody was awaiting the next day. They weren't sure which way things were gonna go. And basically on Wednesday, when the Fed interest rate decision came out, they did pause as was expected. Remember we spoke about this, we expected a pause. It was like a 90 plus percent probability for a pause, which was bullish, right? That it's supposed to be bullish. But the issue was the way that they spoke about it, the way that they basically released it was saying that this is a pause, but they're planning to continue raising interest rate hikes. I think they said that there's possibly two more in the future. They raise the expectation of interest rates for the end of year expectations at 5.6%. So that would mean that there's possibly one or two more interest rate hikes. Market definitely did not like that. They also said during the press conference that they don't expect any rate cuts, possibly one, two years or maybe even more. And a lot of the market was anticipating rate cuts as soon as the end of this year and then at the latest, the beginning of next year. So of course they said that things can change, but for now that's what their outlook is. They're not looking to cut any rates any time this year or in the following one to two years. And they're looking to possibly continue increasing rates, depending if it's needed, if it's demanded, depending on the economy and how fast inflation continues to go down. So once all that came out, you can see that the market really didn't like it. Bitcoin especially dropped down 3% on the day on Wednesday and we ended up hitting new lows. So we hit a new low here and that low was about 24,750. All right, so it's definitely clearly below the recent, all the recent lows. That was the lowest price that we've seen since about, what was it, like March? So in about three months or so that's the lowest price that we've seen. So of course there was a lot of panic in the market. So a lot of liquidations. Crypto Twitter was insane. Everybody was calling for the death of crypto, the death of everything, right? Like we see every few weeks, every few months. But we did survive guys. As you guys can see the next day on Thursday, the 15th we did get a bouncer and prices started going back up. Why you might ask and that's, we're gonna talk again cover this in the news section but BlackRock is applying and did file for a Bitcoin spot ETF. So we'll speak more about this on the news but if you guys don't know who BlackRock is, BlackRock is one of the biggest, if not the biggest asset manager funds in the world. So when they file for something, I think they have like a 99% success rate to get their ETFs approved. So that came out as very bullish news for the crypto world because they can potentially introduce trillions of dollars into the market which would be very, very bullish overall bringing that much money into the market. And that's pretty much the biggest things that happened last week. Now, this week is not going to be as crazy as last week. The biggest thing that we're gonna have this week as far as economic calendar, we have, if we look here at the economic calendar, let's pull it up really quick. We have a bunch of people from the Fed speaking, doing testimonies, but the biggest one is going to be on Wednesday and on Thursday, Jerome Powell, the Fed chair will be doing a testimony at 10 a.m. on Wednesday and again at 10 a.m. on Thursday. So definitely, you're probably gonna wanna tune into that because that will, I expect, rock the market or at least introduce some volatility into the market depending on how that goes. So that's the biggest thing to watch for this week is probably going to be that, looking over the economic calendar for the rest of the week, there's not really much else. But again, throughout the entire week, we're gonna have people from the Fed board speaking every single day. But the biggest two days are gonna be definitely when the Fed chair speaks on Wednesday and Thursday. Now that we have all of that out the way, I am going to pass the mic on to the Bitcoin Queen who will go over some of these, some of the crazy news events that we've seen in the last week or two. What's going on? Let us know what is happening. Here we go. All right, good amount of stuff happening actually. I think that some stuff got buried in the news. I don't know why, but we're gonna talk about it. So first and foremost, let's talk about the Hillman papers or documents, I guess. So pretty much the former director of corporation finance, William Hillman's, this is tied to both a string of emails that he had and a speech that he had in 2018, basically saying that Ethereum was not considered security and that there was a regulation gap between decentralized finance or decentralized blockchains, let's say, not necessary. He didn't use the word finance, and what we know as traditional securities. So pretty much that was used as leverage in the Ripple case. Now, I don't know how much that will actually affect the case, as Jay said before, because it's not really talking about the asset that's being sued at hand. One, two, they have different architectures, infrastructures, the way they launched was also different, things like proof of work kind of like helped ETH leverage certain things at the time. I think there's a lot of differences, fundamental differences between the two projects, but that was used as leverage in the Ripple lawsuit, which could overall help certain things down the line that we're seeing with a lot of these lawsuits in the SEC. But Jay, I'll let you comment on that a little bit since you did have something to say about that. Yeah, so as far as what came out, I think it wasn't like people were looking for something that's going to point for it to XRP, to give them an advantage, but there was nothing specific to XRP or really the case overall. What XRP, the way XRP is utilizing the documents is to show that there's been no clarity from the SEC and they've been contradicting themselves over the last few years. So they pointed out that him and when he released that, when he did that speech, he did it with members of the SEC, basically not even being on the same page. So they had comments on it saying that, hey, this is not really helping, you're gonna confuse people more than anything and they gave them basically tips on what to change in the speech. And he pretty much ignored all of those and did his speech anyways. And then after that, then the SEC chair at the time, even he did a speech talking about cryptos and he pointed people to the website where that speech was basically saying, look, this is how we believe the way that we're taking in cryptocurrencies. And then now Gary is coming out with a completely different approach while the Hyman speech is still on the SEC's website, which just everything completely contradicts itself. So for the XRP lawyers, they're basically using that as, look, there's been absolutely zero clarity in the market. You can see in this speech that still on the SEC's website completely contradicts everything else, et cetera, et cetera. So the main thing that did come out of this was would help Ethereum because that's the cryptocurrency that was specifically mentioned during that speech and where they were saying that Ethereum was not a security, that they did not consider it a security. So because of that, now if the SEC wants to go after Ethereum, they have to first acknowledge that they, at some point in time, they did not consider it a security and I guess I think there was something about morphing during that speech in the documents and they have to kind of acknowledge that and they're basically taking all, what do you call it, precedent away from this case and they wouldn't be able to go back to any other cases basically to try to win the case, to try to use that as their argument to win the case. So yeah, so there's a lot going on. It is a little bit complicated but overall I believe it was a win for crypto and for XRP because again, it does help overall crypto when they were speaking of some cryptos even though they might start out as what we would consider a security, they can morph into not being a security which was part of that speech. So that's why if the SEC wants to go after Ethereum now, they have to then go back and acknowledge that they didn't and in the beginning they didn't consider it a security and now that it's morphed into a security so if something morphs into a security that means that something could morph from a security to not be in a security and that's basically where all this it's just this thing that they basically they're in a checkmate, right? They can't go back because then every project is just gonna be able to say that, look, even though they started at a security, now they're decentralized, so they're not a security so you can't go after them type of thing. So yeah, there's a lot going on there but I think overall it was pretty bullish. Yeah, I don't think they actually have a lot of leverage to go after something like Ethereum that's I think that's pretty much the main reason why Gary has avoided giving a direct answer around what Ethereum is classified. Rumor around the mill just based off the Coinbase lawsuit. I don't know if anybody has read those papers but highly recommend for you guys to actually read the papers that are being served to these companies directly from the SEC website because there are, I mean, it's loaded with information and I mean, the cases are good. They look good, obviously they got good lawyers but everything is in question until there's a resolve but pretty much the idea for Ethereum to be deemed as a security is not the idea. The idea is for crypto is like Ethereum and Ethereum itself to probably have a new category that it falls under, which I think is what everybody's been asking for for a long time now. However, the whole like staking and like staking to earn like all that stuff is pretty much what we got a lot of these cryptocurrencies and made them securities or anything at rewarded promises. Any of that stuff were pretty much like flags to just like destroy that whole narrative but we'll see what happens in the upcoming months because who knows, we'll see. Next story, so this one was one of the ones that kind of like went under the radar but my ears are up. So ABRA, which is a crypto lending platform, as we know, like I guess Celsius, which was one of the biggest ones went or supposedly has been deemed insolvent since March 31st of this year. Now they were issued an emergency cease and desist from the state of Texas security act commission because they were, because the SEC put out some of these projects were serving securities. Regulators have been pretty swift on moving on crypto companies that issue these securities and ABRA was one of them. Now, when they filed the cease and desist, apparently they had been back and forth with one of the co-founders, Brian and or was it William, one of those guys? Anyways, so they had gone back and forth and basically had came to the conclusion based off of the information that was given that the company has been insolvent for a few months now, which another one bites the dust. Another company that was working on leverage that no longer has enough to sustain itself. Now there's not really much word on this. There's been no word from ABRA on this matter. It's pretty much just like room around the mill based off these emergency cease and desist, whether or not they are in fact, a hundred percent insolvent is not clarified. Yeah, I didn't see any news clarifying this information. So I'll be on the lookout for that, but very shocked that, I mean, I'm like surprised but I'm not surprised, right? It's just like, oh my God, ABRA, like they were the one of the more compliant ones but at the same time, I think Warren Buffett says this, there's three L's that are bad to men, ladies, leverage and liquor. So that's it. That's basically what happened here. The leverage got him, so yeah. Anyways, so Doquan, moving on to the characters in this space, Doquan is facing four months in jail for using a fake Chilean passport along with his co-founder. So there was a huge gathering, I think it was in Montenegro where there was like, just like all this, it was like a Dow, like Vitalik was there, anybody who was, anybody was there. It was like a whole month long gathering and it was like this huge conference and it was about Dow's and, you know, everybody is having a good time in the space and Doquan went to go join them along with his co-founder and pretty much, they got caught in Montenegro because they had fake passports. I'm wondering if they had regular passports. Well, given their sensitive situation, it was definitely risky either way, but yeah. Now he's facing four months in jail in Montenegro. He claims he had no idea that the passport was fake. Yeah, I don't know how. So like there's this thing in Singapore. I guess there's a fast track to, you can do it in investments in different countries like business investments, investment visas is what they're called. And basically get on a fast track to become a citizen, resident and or just be able to get a visa to stay within the country. And supposedly this is what he claimed he did and it turned out to be fake, but I don't understand the math between you did a fast track in Singapore and in Singapore you ended up with a Chilean passport. Some of the details weren't really adding up, but yeah, he's gonna face four months in jail. However, what happens after that because there are a number of countries including the US asking for his arrest. So we'll see what happens. I pretty much believe that after those four months are up they're gonna either extradite him to the US and or South Korea, which is the South Korean police are also looking for him, which I mean, that's pretty much why he didn't use his residence or a country of a nationality passport because well, he would have got arrested immediately. But yeah, let's see what happens there. So onto our next felon, SVF who was charged originally with 11 to 13 charges. The courts have agreed to drop it to eight, which are likely to be dismissed by the way, mostly because the room around the mill is that he is talking and working with the Fed unlikely to face jail time. That's wild. So yeah, it's a insider job guys. That's all I gotta say. We've seen strange things like this before. There was actually, oh man, I should have done a little research on this prior to the show. I just remembered as I'm reading this aloud about this clown, but there's a company since 2017 that's been raising funds who all of a sudden has this super, super really hard license to get and was sitting in front of Congress and basically having a conversation with Congress, except when you have a conversation with Congress, like you're asked questions like on the spot, this person who is now coming into the, they've been in the crypto space. They just have never launched anything. They've been collecting money this whole time and supposedly just now have this extremely hard license to get that no exchange, not even Coinbase has ever gotten. Now all of a sudden they have this license. It's been granted about a month ago and they're sitting in front of Congress talking, testifying as a compliance crypto exchange. And it seems as if their responses were scripted, which was the thing that stood out to most people. Why was this person who clearly wasn't very knowledgeable? I guess he's seen the founder or the co-founder. He didn't seem very knowledgeable. Also a young man. The idea is there's pawns being placed in these positions of power and they're basically either doing inside jobs or creating a mockery of the space, which is pretty much what we've seen thus far. And yeah, lots of questions as to why this person had scripted answers to questions. Cause that's not normal. That's abnormal. That's just not how it works. And yeah, that's another thing that was circulating on Twitter last week. But yeah, we'll see what happens with SBF. This guy facing jail time highly, highly, highly doubt it. I mean, it's just like, it's ridiculous at this point what's happened. Yeah, it's quite sad. Yeah, that's wild. Anyways, let's move on from some of these clowns. So Ethereum is a hot topic today and it's because of the validators. So no, you do not have to stake anymore than 32 ETH to become an Ethereum validator. They are not moving the minimum. The minimum will continue to be 32 ETH. People were freaking out saying that the Ethereum validators are raising the bar to entry and therefore are centralizing the pool and yada, yada, yada, yada. That is incorrect, guys. And there was actually a lot of articles who also publish incorrect information. So it's not your fault. However, what is happening is that the, there was a proposal that was put through to raise the Ethereum validators to a new max of 2048 Ethereum. So you can still use 32 Ethereum to enter in the validator, but now there is a new maximum, my guess, wild theory. There's a lot of information that gets captured with these validators. Each validator has more information. If they increase the maximum, then that reduces the number of individual validators, blah, blah, blah. So rest assured, you can still stake your 32 ETH. Okay. So Charles Hoskinson, this one I found was interesting. I thought this was funny because me and my friends were talking about aliens this weekend. There's been a, I guess for some reason, 92% of recent UFO sightings have been in the United States the past year, which is a very high increase because most of it in the past was actually in the UK. And now most of it is in the US, which I thought was interesting. So pretty much Charles is on the search for aliens. So he took his private jet, which I like to say is an important thing to consider here. This person took his private jet with scientists to Papua New Guinea to find extraterrestrial findings from a 2014, what is deemed to be a UFO and or meteor, whatever it was, it crashed in the Papua New Guinea area and they went to go find it. A $1.5 million was invested into this research with this team of scientists and Charles is on it. So his latest expedition is in fact, finding alien remains. That's weird. So, yeah, it is kind of wild. It's quite funny, but you know, when you got a lot of funny money and the IRS is, or not the IRS, well, them two eventually, but when the SEC is coming after you, I mean, you gotta get rid of it somehow. So, yeah. And last but not least, BlackRock ETFs, which as Jay mentioned earlier, they filed for an ETF a few days ago, they will most likely land it. They will be the first Bitcoin ETF in the United States in history. What a surprise. BlackRock is pretty much the largest set management in the US managing $9 trillion in assets, which is a lot of assets. And ironically, their custodian will be Coinbase. They will be using Coinbase custodian in order to hold these Bitcoin ETFs. I mean, it just doesn't get any better than this. Should we be buying some Coinbase stock? You know, that's a good question. And I guess that would fall under the stock in theory, but I just found it so funny that they're going with, you know, Coinbase custodian admins of all the hullabaloo that's going on. I guess their custodian management is still a very valid, I guess, use. Was this in efforts to manipulate the price of the Coinbase stock prior to them filing for this ETF so you can get in low? Maybe, and if it is, then I guess now is the time to get in on Coin, because apparently if this BlackRock ETF goes through, I mean, like Jay mentioned earlier, that's trillions of dollars that could be potentially flooded into the market, which is, I mean, that's a great thing to have. So I'm not knocking it. It is also rumored around the mill as of right now that Fidelity is in fact, preparing to submit their ETF proposal again as well. So, you know? That's wild. I don't usually invest in stocks, but I would look into it. It's wild because BlackRock's ETF success rate with the SEC is 575 to one. And the last time that they were unsuccessful was over 10 years ago, or it was 10 years ago, almost 10 years ago. So that's pretty wild. And then, and what's wilder is that the SEC would have to approve it knowing that Coinbase is the custodian for the ETF. So I don't know, this is, I don't even know what to think of this. It's quite funny when I was just like, oh, okay, when I saw the Coinbase custodian part, I'm like, okay, I see what's going on here. That's most of the news for this week guys. Let's go into the Bitcoin price analysis, Jay. Let's see how this news is affecting our markets. Yeah, definitely. And we saw the effect of in the markets, and we're potentially seeing it right now, but we saw the effect in the market last week as soon as this was announced. Once it was announced, we basically had a $1,000 move to the upside in Bitcoin once that the news got around. So we see here that we hit last week on Thursday, we hit a low of 24,744 and a high of 25,743. So literally a $1,000 move from the bottom to the top once that news kind of broke out. And then the next day, we went to a high of 26,505. And now currently, as we speak, we're at 26,874. So a $2,000 move since this was announced on Thursday of last week. I think people are starting to get it. And the market is expecting that ETF to get approved. And when it does get approved, I think we can potentially see new highs for 2023. That's gonna be kind of my prediction there. Not saying we're hitting new all-time highs, guys. I'm saying potentially it could lead to a new high for this year. Now, it's really not that far off. We're talking about a, from where we currently are, we're at 26, let's say 27, that's a $4,000 move. We just saw $2,000 move in the last lesson a week. So I think for the price to move $4,000, if it gets approved, that's not much in Bitcoin, right? That's really not a big move. If we look at what that move will look like percentage-wise from, let's say where we are right now, guys, that's less than a 20% move. Like Bitcoin does that in its sleep, right? So definitely, I think that's something that could be possible where we can see something like that where we set a new high for 2023. And that might be the peak of 2023 for the price of Bitcoin that could set up a high. But I don't know. I'm just kind of speculating here, who knows, right? This thing could go either way. Maybe they become the second ETF that gets declined in the last decade or just overall for BlackRock. So with crypto, one thing crypto is to always expect the unexpected. So we'll just see kind of what happens with that. But let's go into the analysis here for this week. So let's start off on the weekly chart. Well, actually let's go all the way back to the monthly. Let's see what the monthly's looking like so far. As you guys can see here, we've been after a amazing start to the year in January. We moved up almost 40% move on January, February, we're pretty much in the flat. And then in March, we had another 23% move up. And in April, we had a two and a half percent move up. Then of course came May. And you know, as the saying goes, sell in May and go away. Well, so far it's proving to be true because in May we saw about a 7% loss. And in this month, so far we're down only 1%. It seems like a really, really bad month because of everything that's happened in the last couple of weeks, but we're only down 1% this month, okay? We still have about, what, we have about two weeks to go, a little bit under two weeks. So, you know, let's see what happens. You know, let's see what happens, right? So let's go to the weekly here and kind of see where we are on the weekly. Now, one thing to note here, the first thing to note is check out this resistance, right? That's pretty much been holding us back since we hit that high back in April. And we've pretty much been getting rejected by that after that. So, one thing that we definitely need is a close on top and beyond this resistance line here, which we have not had, right? Right now we are above it, but we need to close this candle above it. So that means that on Sunday, we need to make sure that we're still above this, right? The other thing is this blue line right here, that is a 200 week moving average. If we go back and we spoke about this before, we won't be able to see it on this chart, but if we go, let's see, probably all time history, this should be able to show us. If we go back, you can see that before this year, we had never closed, well, we had closed here, but we had, other than that, we had never really spent much time below this 200 week moving average until this year. This year, for the first time in the bear market, we spent a whole lot of time under that moving average. We tried to break above it, and then we fell right back below it, and then now we broke above it again, only to once again close below it, as you guys can see, last week was the second week in a row where we closed below this line. As of right now, we're back above it, but remember, we're talking about closing. So the line is pretty much around 26,600-ish, is looking where it's at right now. So we need to close above that number, basically, to potentially get a bounce here and to continue to the upside. And we can see, if we look back in history, we see that we bounced off that line so many times, you can see it right here, we can see it here. So that was during the last bear market, the bear market before that, we can see that we bounced twice on it as well. And you can just see that, that's been a really, really big support, not only a support during the bear market, but it's basically acted as a reversal when jumping into the next bull market. So we definitely want to see that price close above that 200-week moving average and hold there, because if not, we can potentially get further downside. Okay, and we definitely don't want further downside. So also on the weekly here, you can see that we still have this higher, high, higher, low setup. It's still intact, guys. So although we cleared and set up new lows here, we still have higher highs, higher low. If we just kind of look at from the bottom here, we set up higher high, higher low, higher high, higher low. So right now we're still good, right? Right now we're still good. We're pretty much retesting that previous high or high. So as long as we keep this pattern intact, we're still looking good for the long-term here. This still could be that reversal that leads us into that next bull market. So so far, two good things there, right? Another thing to note, of course, we have that head and shoulders pattern that's a big reversal pattern, right? We have the left shoulder, we have the head, we have the right shoulder, and then we have the neckline here, which we got this clear breakout there. So what this could be, what's happening right now could be a retest of this neckline, right? And that could be what we saw here, because that's around that $24,000 range. So potentially that's something that we saw here, and if we just kind of look up, we just go here and put head and shoulders pattern, right? And we go to images. I'm sure we're gonna see some, well, this is an inverse. So inverse head and shoulders pattern. You can see that a lot of the times after the breakout here, there's always a retest before a continuation to the upside, right? Let me see if there's another one. Here's another one. There's a neckline, breakout, retest, continuation, and you can pretty much see this in most of these patterns. A breakout, a retest, continuation. Let's see which other one here. We have, this one's not loading correctly, but we can see that we had a breakout, retest, continuation, another retest, and then continuation again, and on and on and on, right? You'll see this over and over and over in a lot of these photos because that's a very, very, very common thing for price action there. So that's pretty much what we're seeing right now, right? We have this, the inverse head and shoulders, which is a very, very popular and very common reversal pattern. Then we have the breakout, and then we have the retest here. What does this lead us to? What is the target here? And I do think I drew this before. Yep, here we go. You can see here that our target from this pattern is basically right up here, that sits around $36,000. So and that's very close to this next Fibonacci level here, which is at $37,000. So that's gonna be a big, big area right there for us to target and potentially hit in the future. Remember, this is on a bigger timeframe. This is a weekly timeframe. So this develops over time. You can see that for this pattern to develop, it took what? From June of last year, and now we're in June of 2023. So in a year, it's what it's taken for that pattern to develop and then the breakout to happen and now a retest, right? So these patterns take time. So even though the target up here is at $36,000, doesn't mean it happens overnight. Doesn't mean it's gonna happen in a couple weeks or even in a month, right? It's gonna take time to develop. We could be talking about this maybe end of year reaching that $36,000 target there. So that's another thing that we've been watching again. That's bullish overall. And looking through this, we can see confluence, right? We can see the overall picture looking pretty bullish, right? Looking like a reversal and basically showing us that we've pretty much printed a bottom. We've probably hit, most likely hit the bottom for this bear market. Now, remember, we deal in probabilities, not absolutes. So there's always a chance that we might not have, right? But from everything that I'm looking at, from my experience, it tells me and it points to us being basically at that point where we've already hit that bottom. We've already, we have the big reversal here and now it's just a matter of time before we continue to the upside there. So those are the main things that I'm looking at. Now if we dive in deeper to the daily timeframe here, the main things that I'm looking for here are going to be this green box. Remember that was a big support area and is now going to be acting as a resistance area. So you can see we've already been rejected there and we're at it right now. We've been rejected already in the last few days. Let's see if we can kind of break back into that range there. I think that we have to probably get above that $27,000. I would like to see it maybe around 27,400 range and above I think is a good level to maybe break through and close above to then once again, convert this resistance back into a support level. Now remember, if we do go down lower, we do have the support here which we just recently tapped last week and that's in that $24,000 range. So we just tapped that support level last week and you can see if we go back, we have a lot of open interest here where it was once a resistance level. We got rejected from it multiple times here. We got rejected from it again here and then we had a little bit of trouble here before it finally breaking above it. Now we've once again tapped that level and we bounced back up. So that is a good sign overall. Now we still do have a lot of work to do here. We have a lot of resistance. We have this dynamic resistance here that's been holding us back since we set the high for the year. We have the support flipped into resistance as well. We have the 200 week moving average in that range as well. So there's a lot of things going on in this range that we're gonna have to try to break above. And if we pull up the volume shelves here, you can see in the volume shelves that there's a lot of open interest in this range. So that means that it's harder to move above or fall below it, right? Because there's a lot of buying and selling in this range. So it's gonna act as a resistance as well. So that's another thing to keep an eye on because if we go below it, you can see how easily we moved down here and then moved right back up, right? And that's because, look, there's not a lot going on. There's not a lot of open interest. So it's a lot easier to move the price beyond these gaps, right? Now there is a gap, once we get above $28,000, you can see that the volume shelves start kind of falling off and that does make it easier for us to break back into that $30,000 range. So there's gonna be a big level, the biggest level here on this volume shelf is gonna be $28,000. So breaking above that and holding above that is gonna definitely be monumental if we wanna see a continuation back into this year's highs. So what am I doing this week? What type of trades am I looking for, right? How am I going to play it? So right now we're still kind of, like right now we're like in this resistance range, right? So we don't really wanna be looking for a long position at the current prices. If I was looking to open a position right now, if you put a gun to my head and you said open a position right now, long or short, I'd probably be shorting here with a stop. Probably I'd give myself a little bit of room maybe to these highs right here, these recent highs that seems to be like around the $27,400 range. So I'd probably put my stop somewhat above that. And if price broke above that, then I'd close out the trade because then we're probably, we might be going up to test at $28,000 range. And then again, I might be looking to short at that range as well. So there's not a lot of long opportunity, I don't think right now at this current price, now if we do drop back down towards that $26,000 range, there is some opportunity there for a long, but again, that's kind of, if we look at the price here, that's kind of the middle of nowhere, right? It has acted as somewhat of a support, but if we go back that you're kind of the middle of nowhere there where things could go in either direction. So again, not really a high probability play there. So right now, I'm probably looking either to short these levels here, anywhere between now and $27,400 would be possible opportunities to short. And again, $28,000, another possible opportunity to short. So maybe the best play this week, if you're looking to open trades, what I would recommend and what I'd probably doing, I might not open trades this week, especially with Wednesday and Thursday knowing that Jerome Powell's gonna be speaking, but every time he speaks price goes down. So that might actually play into the narrative where we're at a resistance right now. There's a lot of resistance between here and $28,000. And price could drop lower on Wednesday, Thursday when Jerome Powell speaks. So if you're looking to open trades, that's what I would probably be looking at. I'd be trying to find something within there. You can even set something up where maybe you open up a beginning trade here and then kind of ladder your way in. So all the way up to like $28,000. So again, you wouldn't need, this would be a lot riskier because your stop would probably have to be above $28,500. So if you wanna start at $27,000, then you kind of another entry at $27,500 and then another entry at $28,000. It is kind of a risk and then you still have a $500, you're gonna need another $500 here for your stop loss. So that is a big range. Maybe for swing trades, you can try something like that. If you're looking for scalps or day trades, I wouldn't set something up like that. But for a swing trade, that's probably the best setup I would say for scalps. Again, you're trying to play this level here, this resistance here and trying to catch a quick move to the downside. And when I say a quick move, I don't mean a move to $24,000 or back to $25,000. I mean, I mean very small moves, right? We're looking at moves probably like in the $200 range. So if you're scalping, you're looking to scalp $100 to $200 ranges and make a quick profit and then get out. So that's pretty much the only setups I would be looking at so far right now. Remember, this could all change depending what happens as a week goes on. As price changes, as we get new prices and new highs and lows, then the way I reevaluate at that point and making a new game plan from there basically. But as long as you have a game plan, just make sure that you always know exactly where you're gonna be exiting, whether you're right or wrong. That's gonna be the main thing. And just by doing that alone, by having a game plan, by knowing exactly where you're getting out and just opening up a trade versus just opening up a trade and not knowing where you're gonna get out and having a mental place where you're gonna get out but then changing it because your emotions might run high. Emotions will mess you up as a trader. Whether it's greed or anger or because you're losing trades, whatever it is, it'll make you a bad trader. You're gonna lose more and more trades. So that's what I would recommend. You can open it in either direction, but just make sure you have a plan, right? Make sure you look for confluence and have a plan know we're gonna get out regardless whether you're winning a trade or losing a trade, always have an exit plan. So that's the biggest takeaway, I think, from this if you decide you're deciding to play the charts this week. So that's pretty much what we're gonna be looking at. And I think that's all I have for you as far as the analysis here on the week. Remember, I only look at Bitcoin because everything else is gonna follow whatever Bitcoin is doing. So if Bitcoin moves up, Ethereum is probably also going to move up. Outcoins will probably also move up. Bitcoin moves down, then everything probably just gonna follow as well. So pretty much the main thing. Another thing that I didn't really quickly wanna look at, Bitcoin dominance. I know a lot of people have been asking me about it. It did break through its previous resistance here and we've set new highs here. If we go over to the weekly, you can see that it had been rejected at this exact level many times before and we just broke above it and set up new highs here for the Bitcoin dominance. You can see that we're hitting 50% dominance right now. So what does that mean for the overall market? Well, it means that more money is flowing into Bitcoin. So any new money coming into crypto right now is flowing into Bitcoin versus into Outcoins. So that's gonna set Bitcoin up to outperform in the short term, right? But if that reverses, which it reverses all the time, as you can see in other charts here, then that means Outcoins are gonna be outperforming Bitcoin. So just something else to keep in mind, if Bitcoin dominance continues to go up, then there is a possibility that Outcoins are underperforming Bitcoin. So just something else to keep in mind overall, as you trade, I don't know if you guys are trading Outcoins or you're trading Bitcoin, Ethereum, whatever it is, but just make sure to keep that in mind. So, what do you think, Bitcoin Queen? What do you think was gonna happen this week? Have any thoughts? Oh, no, not really. I mean, there was something around the, there was like a, I mean, we haven't had any interest rate hikes recently, that's been taken a pause. There's a rumor on the mill saying that they might start over and start increasing those rates again, if inflation doesn't figure itself out, which I thought was insane because why would inflation go down if you're just gonna hire these interest rates? And yeah, that was, that might have something to do with it eventually, but I don't think that's in the upcoming week. For right now, I think we've basically have hit pretty close to rock bottom if we haven't already. I mean, this is definitely not the lowest Bitcoin's been in the past six months, it's been lower. But yeah, I mean, it looks like we're checking along. So, let's see what happens. Yeah, so let's go ahead and dive into some Q and A. So if you guys have any questions about anything that we've spoken about today or anything, that you want our thoughts on, drop it in the comments right now and we'll answer a few questions here and we'll go from there. So I did ask as well on Instagram. So I'm gonna pull up Instagram really quickly to see if we got anything, any questions that came in through Instagram. If not, we'll just answer whatever we get here in the comments section and then I'll unwrap things up from there. So let me take a look here. Someone said big gap, or Bitcoin to gap to 20,000 I think is what they're saying. I'm not sure they wrote it kind of weird. It says bit to gap 20,000. So will Bitcoin drop down to 20,000? I mean, like I said, we deal in probabilities, right? Nothing in trading is ever absolute. So is there an argument or a narrative or a scenario where Bitcoin could drop down to 20,000? Yeah, for sure. So there could definitely be multiple things for that argument. One being that we do have one of the CME gaps at $20,000. So that's one of the arguments that people are talking about. But again, remember I told you not all gaps get filled. Even though a majority of gaps do get filled, all of them do not. So just because there's a gap there does not mean that 100% Bitcoin has to drop down there to fill that gap. And the other thing is there's liquidity that was left behind in that range, right? So because we have this big, huge green candle, that means that there were a lot of orders that probably weren't ever filled here. So a lot of times what price action likes to do is basically retrace this whole candle here that price never came back to, right? So those are two arguments that can point to Bitcoin potentially dropping back to $20,000. And again, $20,000 has always been a big magnet because during the previous bull run before the last bull run, so the 2018 bull run or a 2017 bull run we topped out at $20,000. So that's always been a big number for Bitcoin in the last few years. So can, is there a scenario where we can drop back down? Yeah, of course. But we're not just gonna drop down for no reason, right? There has to be a reason for prices to want to drop down basically $7,000. So, yeah, that's kind of my thoughts on it. I don't know if we will get that again. I wouldn't just wait on the sidelines with all my money in cash to see if that's gonna happen or not because there's still a lot of people at like 10, 11, $12,000 that were waiting on that to happen before the previous bull run and it never happened. So, it just depends what that means to you and why do you want the price to go to drop down to $20,000? Is it because you're completely out of crypto right now and you're waiting for $20,000? If it even hits $20,000, are you even gonna get in at that point because it's hit $20,000 multiple times? So, if those people did not get in at $20,000 when it was down there, why would they get in now, right? So, usually those same people saying that Bitcoin's gonna drop back down to $20,000, this and that, you know, that they're sitting on the sidelines or whatever it is. When price does drop down to those numbers, those people probably don't enter because they think at that point they're gonna say, well, it's gonna drop down to $15,000, right? Or they're gonna set up a new low at $13,000 or whatever number they decide on that day, right? Whatever fits their narrative that day and they end up never entering Bitcoin. So, yeah, that's pretty much my thoughts on that. Let me see, do you have anything else? Let me take a look here at the comments. Rodrigo says, do you have an update status on the Binance and other case? Do you have any updates on that, Queen? Oh, you know, so the only thing that came to mind, and I think you might have deleted it, I kind of like edited it. But so, Binance and the SEC, they strike, they stroke a deal in terms of you, Binance, US customer assets. So, last week Binance, or the SEC was trying to freeze, I guess Binance from accessing customer assets and from people, from withdrawing, from Binance's platform, which I think is absolutely insane if you're trying to protect consumers, you should let them get their money off the platform immediately, but instead, they were looking to get all the assets frozen. So, basically, the Binance came to an agreement with the SEC and the courts approved it, letting Binance freeze US customer assets only not all of Binance's assets, and employees have access to the assets, if need be. So, if customers reach out to Binance and they file whatever it is that they need to file, they might have access to get their assets back outside of the freeze. So, that is the only thing I've seen that is mentionable from the lawsuit. Thus far, there's really not much out of either lawsuit at the moment. It's still very, very young and it's pending a dating court, so we'll have to wait and see. All right, there you go, Rodrigo. Hopefully that answered your question there. Yeah, that's pretty much the same thing that I've seen so far on those cases, exactly what she said. So, we're just like you were kind of, everybody's pretty much waiting right now seeing what ends up happening there with both of those cases. I know Brian Armstrong, the CEO of Coinbase has been basically, he went on a bunch of different news stations. I think he did interviews, basically talking about all of that as well. So, I know he's been out trying to talk as much as possible as well on that, but haven't seen anything else from the SEC or the famous Gary Gensler since they did that. Let me see anything else. I'm gonna check any other questions. I don't think I see anything else on, nothing else on Instagram, nothing in the comments. So, I mean, we are over the hour, so we're gonna go ahead and wrap things up. Thank you guys for everybody that has tuned in and that was here. Thank you for those that asked the questions in the chat and on Instagram. We are here live every Monday, usually 1 p.m. Eastern Standard Time. Today we're a little bit behind, but we were able to get it up and going either way. Thank you to the Bitcoin Queen as always for coming on here with me and going over the news. She does an incredible job with that as always and that's pretty much it, guys. We will be live again next week. Again, I still wanna turn this into a podcast. I just gotta figure out the easiest way to be able to do it and probably start uploading into all the podcast websites. I don't have Bitcoin Queen if you have any experience with that, but I think that's the next plan. For multi-podcast upload anchor, what a lot of people use, it uploads it to everywhere else to distribute. And there's a lot of AI stuff these days where it'll take videos and turn it into text and then vice versa. So yeah, there's a lot of stuff out there. Yeah, so I think that's the next step for this to just put it up on all platforms as well so that it's available for everyone to listen to regardless of where they are. I know not everybody has the time to sit down for an hour watching a YouTube live stream, so I think we'll be able to reach a lot more people if we just turn it into an audio podcast where they can listen to it as they're in the car or while you're at work or while you're running or in the gym, whatever the case may be. Rodrigo asks if you have your own YouTube channel. I do. I don't use it very much. Honestly, Jay is like the only person I stream with these days. I used to be an influencer, but I pretty much have gone incognito and have been working on the back ends of the crypto world instead of reporting on the front ends. I like reporting stuff, but also getting my hands dirty and running events. I mostly run events. That's like most of what I do. So anytime I have a conference or a large event coming up, I pretty much just chill it on here. And yeah, so that's the best place to catch me. Yeah, for sure. Yeah, and that's actually where I met her at one of her events that she was working on. So yeah, definitely, well, give them your Twitter. I think that's probably where you're the most active, right? Kind of. Yeah, I mean, you can definitely reach out to me, no problem, I'll definitely answer back. My Twitter is at the BTC Queen. That is what I go by, the Bitcoin Queen, the BTC Queen. And yeah, if you got questions, reach out to me. Occasionally I tweet on there. Sometimes I like clear up fud, stuff of that nature. So I'm around. Awesome. And yeah, Rodrigo, it's very, very rainy here. It's actually, there's a storm here right now. So it's thundering, it's lightning. I can't see out the window right now. Like it's just all cloudy. So yeah, it's definitely been a storm here today. But hopefully it wasn't too loud. I think it was quite relaxing. Maybe from now on we'll put storm sounds, rain sounds in the background while we do the live streams. Cause I feel pretty relaxed today. So I'm not gonna lie. All right guys, well thank you again so much for tuning in guys. We will see you guys on the next one. As always, peace and love.