 What is going on ladies and gentlemen and welcome back to another live stream here Bitcoin daily today is the 24th of April The start of a brand new week today's Monday. It is 1 p.m. Eastern Standard Time and Today we're gonna be covering a lot of different stuff just like we do every day on let's talk crypto I have my co-host with me the Bitcoin Queen. How are you doing? There you go. I was frozen for a second. I am awesome. Can be better This is another week in crypto It's the rise of the meme coin. That's that's pretty much what I've taken. Yeah, fast few few days And we'll talk about that and how to navigate this. I Don't want to say well, it's kind of a mess. I'm not gonna lie guys every time it happens It's it's a little hectic. You feared him gas fees are up, which is kind of obnoxious I'm surprised. There wasn't more of these meme coins launching on alternative chains or later twos But yeah, we'll get into that a little later Yeah, definitely. I know the meme coin. I think the talk of the week was a baby Wait, yeah, it's some crazy crazy games But it but I was only yeah supposedly what I was seeing was that a lot of the people that did these crazy games There wasn't enough liquidity for them to sell So they had to like even if like I saw one story that a guy turned like, you know $27 into a million dollars But by the time he was able to sell it if he would he if he were to sell it It was gonna actually be like closer to like $500,000 still amazing return But there wasn't enough liquidity to really you know to really earn Yeah, you know, but what what the thing said he had type of thing But but yeah, but yeah, it's been a better crazy weekend crypto the last week as we all know We saw a downturn in the market And currently we're sitting at Bitcoin sitting at $27,000 So we're watching here to see if it's going to hold up here at 27 or if we might fall below 27 So we're gonna talk about You know the price pricing what's going on there with crit with Bitcoin We're gonna take a look at other outcoins as well We're also gonna be going over the calendar the economic calendar for the week We have one thing that's it's not it's not major as far as bringing them volatility But it's kind of major in the macroeconomic sense That we're gonna cover today And then we're gonna be also looking forward to next week when we do get the Fed interest rate hike decisions And then we'll end it with what we're gonna of course to cover the news and Then end it with a market analysis and a Q&A. So let's go ahead and dive right in guys So first things first Bitcoin sitting at 27,000 $100 as of this moment Ethereum right behind it at $1,800 so if we look let's take a look at the weekly here to see how the close was last week Let me Dumped a bunch of Bitcoin over the past few days on centralized exchanges and it took quite a dump Yeah, yeah, there's there's been a lot and I think I saw a lot of miners also taking profit and stuff like that Or at least selling I don't know if they're taking profit or not due to You know how much it costs to mine a Bitcoin right now, but I think there was a round break The hash rate has gone up significantly which which in our choice factor increases security, but It's something to consider because it does generate it takes more electricity to generate a Bitcoin at that point in time and more and more Hash power so need more machines focusing just on one block. So right as effect those rewards. Yeah So you can see at on the weekly chart here Bitcoin last week was down 9% It closed out the week at 27,000 573 So the closing what it was actually it wasn't bad It pushed the price pushed up towards the end of the of the day of the weekly candle here And but you know today we pretty much started back off exactly where we left off on Friday Where we left off last week And we're currently down about a percent and a half right now We're we're gonna wait and see what happens here how it plays out if we take a look at the rest of the market right now Let me just refresh this screen real quick and you can see that pretty much everything is in the red As far as which ones have fallen the most right now, we see Matic is under a dollar again For the first time in a while It's down 15 percent if we keep going down I want to see over the last seven days is if there's anything that's really Popping out for me. Aptos is down 17 percent Nears down 18 Arbitrum down 19 so a lot of the coins that had Big run-ups in the last few weeks. You can see phantom down 20 percent It looks like these are probably leading the way down right now Rocket pool down 24 percent. So that's what it looks like, but like always Bitcoin is the king and the the market is still very much correlated with what happens with bitcoins price So whenever bitcoins go down goes down Everything else is following it and you know out coins. They're gonna move a lot more They're gonna exaggerate whatever move Bitcoin makes So that's why you see, you know bitcoin down 7.9 percent and then ethereum Is exaggerates that move a little bit and then you'll see other out coins. He also exaggerating the move So if we if we look at our top crypto gainers and losers Um, what a surprise that the top gainer in the last 24 hours is a meme coin flokey Um, if we go over the last seven days Um, we have mango man intelligent. I'm not sure what that is But that's up 69 percent Um, and other than that not really much else. These are the top 300. That's why we're getting like these random coins Um in the top 100, uh, there's really not much going on You see the top coin over the last seven days is up 2.5 percent So there's really not much going on. Uh, if we look at the top losers Injective, um, is down 30 percent and this was one of the the the leaders over the last few weeks That was up a lot. So that's that's why it's probably at this point leading the losers now. Um, we have uh, baby doge coin Down 23 percent. So you got to be careful with those. We also have arbitrom down 23 percent And a few others here as you guys can see So, um, so it's been it's been a a wild week Roller coaster kind of a week, you know, a lot of people You know how it is once when the the markets bullish everybody screaming All the bulls are screaming. Oh my god We're going to the moon and when it gets bearish then all the bears are screaming. Oh my god. We're going to zero Um, how how have you been how have you been handling this past week? Ah, yeah, you know, um, it feels good not to look at anything Yeah, you know, I try to get into some of those meme coins just just to see and The gas fees are just like getting out of control again. And it's just not uh, not great To even like Play around with these things like yeah, some of these things are so cheap like there's the the trending meme point right now. It's called, uh, pleb. Oh, yeah, and um It's it's like it's like all over twitter and I was like, oh, okay, cool And it's like, you know like point zero zero zero zero zero zero like one center or whatever and there's like I think like $300,000 and like 24 hour volume action, which is pretty good and it's pumped quite a bit Um, but you know, it's like, okay, let's put $30 and there see what happens and like gas fees alone Or like 30 35. So it's like, ah, I don't know Um, so it's like sometimes I just I just stay away. I just don't even look at it. Um, I'm just like Yeah, yeah, um, a lot of mostly like I've done a few transfers like on uniswap and stuff like that And um, most of those gas fees have been like minimum $20 So, uh, and that's and that was I think that was over the weekend So over the weekend usually gas is cheaper either on the weekend So usually if you want to make a swap, it's it's best to do it over the weekend Or uh, really really early in the morning or really late at night That's usually when gas gas fees are the cheapest On the network and still I was seeing like I was paying like $20. Basically, you know So so I was basically watching it if I could if I saw it go under 20 Then I'd make the swap Because I was the cheapest that I was able to see it. Um, so yeah, it's definitely been very very expensive over the last Uh, a few weeks because of these mean all these mean coins popping up in the market right now um, all right, let's take a look at, um Major, let's let's take a look at the economic calendar here Uh, and we can see there's really not too much going on this week as far as anything That's really going to bring a lot of volatility into the market. Um, now we do have the gdp Um on thursday at 8 30 a.m Um, that could bring some volatility into the market Um, how much I don't know. I guess it would depend on what you know, how how big or how how good or bad It would be, you know Now one thing to to note though that's happening this week. We have earnings That began I think began one or two weeks ago In the stock markets overall and this week we have a lot of the big players So I think we have uh google this week. I think maybe apple might be reporting this week as well I'm not sure. I'm not sure exactly which ones are reporting But we do have a lot of the bigger players reporting this week So that is something to kind of watch in the overall market to see, you know, how they're trending how it's trending Um, because it could also, you know, show some clarity on on the overall Economic standpoint in the market, you know on these big the biggest businesses in tech, right? A lot of a lot of them are considered risk on assets just like, uh, bitcoin is considered so Um, it could have some effect not saying that it's going to have an effect because bitcoin really doesn't matter what google or apple does But because they are risk on assets the same this Kind of how uh bitcoin is classified Maybe there might be some sort of effect, you know correlated effect But so something just to keep in mind just something to watch um Now the main thing that the next big volatility event that we are going to have will be next week If we look forward to next wednesday The third of may We're going to see that the fed interest rate decision is going to be at 2 p.m. On that day So that 100 percent is going to affect the market and it's gonna is going to affect bitcoin and everything right It's gonna bring volatility into the market So, um, you know, what can we expect right now as you can see right right here? the previous we had a 25 basis points rate hike right? Um, which got us to five percent Now, uh, the consensus is that we're going to get another 25 basis points rate hike which would put us at 5.25 percent So that's that's the consensus. That's also the forecast. Um, and also if we pull up This here, this is a cme fed watch tool and it gives you a probability of what they're going to do So you can see right now the probability is that there will be, uh, 25 basis points hike on Next wednesday. So that's already being priced into the market. So if they raise it 25 points, um, you know It's not a big deal. What what's gonna move the market more after that is going to be, you know, um, the press conference afterwards where Uh, the fed pal j-pals gonna Jerome pals gonna be speaking about, you know, what their Outlook is going forward how they plan to continue going forward if they think, you know, we're going into a recession If they think we're in a recession already, which I believe we've been in a recession for the past year and, uh You know, things like that that will give more clarity on what they might be doing in the future I'm going into the next interest rate hike, which will be on the 14th of june And as you can see right now, uh, the probability is that there's 67 probability That there will be a pause in interest rate hikes There's a 26 chance that they will increase it another 25 percent. So depending what happens Wednesday, uh, and and you know what they say all all of these numbers are probably gonna change But I think the one that's pretty much For certain is this one right here where there's a 91 chance probability That there will be a 25 basis points rate hike So something to keep in mind something to watch, uh, and prepare for as I You know, we will see Volatility come into the market during all that So, um, now that we got that out of the way, I'ma pass it over to the queen here So she can go jump into some of the news I know we got some big news on one of the exchanges that I personally used by bit Uh, yeah, it's quite sad So, um, we all know what's been happening, uh, especially here in the u.s And how the sdc has been cracking down on a lot of individuals. I have bit tricks We saw last week Got in trouble and got slapped on the hand. Um, and we've also been seeing coin base Having a we think we need to leave america campaign pretty much And go to the u.k. So I guess let's start by by bit by bit basically is having mandatory k y c For all the services and all its products no matter where it is So, I mean, this is pretty much what we saw what happened with finance back probably a few years ago when You know similar things were coming up Around money laundering and all this kind of stuff in between So similar move where, you know, anyone who is using their Products, um, they will start rolling out Any I guess new users that can only exchange as of next month And then I think by december Everyone needs to do k y c is pretty much what i'm seeing So yeah, so like identity verification At least level one will be mandatory for all products and services As of may 2023 um Yeah, so any existing orders Will be the only ones that are honored I guess without any k y c If there's anything new after that date then that that's pretty much it so yeah, I uh I don't know. I don't know what you guys used to trade, but um, you know, we're gonna we're seeing this this slowly Start to tumble. Um, I think exchanges that still have some I guess free like I think I think there's some exchanges that still do about like one big coin a day in terms of withdrawal Um, like uh koo coin and a few others that will will slowly start we'll start seeing this um Because even defy the the sec is is is Saying like hey, we need to control defy as well. So, uh Unfortunately, it's not looking good for centralized exchanges or decentralized exchanges Yeah, I I know I'm I'm looking at a a few different options At this point now for trading because I'm definitely gonna be having to move off of buybit Um, so I'll update you guys, you know once One I'm going through them right. I'm going through them right now and testing them So once I figure out which ones I really really like I'll I'll definitely be updating you guys with that as well Yeah, but We like you buy a bit We don't blame you But in in lighter news So last year we all saw what happened with tornado cash and the sanctions in north korea and all that Mess pretty much And we saw that one of the Developers who worked on tornado cash was arrested in the netherlands Well, he's been denied to be released Up until recently So he will actually be released two days from now pending trial He was arrested all the way in august and two days from now. He'll be released Which is insane, you know, and they actually never charged him because he never went to trial now He's going to trial Within the next month, but I guess They're gonna let him go. He's gonna be home for his birthday. His birthday is coming up, which which is cool But yeah rooting for him because I mean, it's just really insane what happened There and how how a crackdown can like actually like really affect innocent people who kind of just get caught in the fire For other people's actions really but um, yeah, so in lighter news that that guy got released or is being released in the next two days so coinbase so coinbase we've seen that they've had a Basically, I guess like a campaign because so it was about three or four weeks ago It was like circulating on twitter where coinbase was saying that they Got intel from the sec saying that they may be violating Some regulation now, I think the issue that everyone Everyone within the industry takes is that there is no actual Regulated regulation and clarity around regulation as of right now Even though we see the sec pumping out lawsuits and serving people left and right So it's it's a little concerning that Especially for an exchange that's been around for so long operating within the us for them to all of a sudden Have something that they have violated or don't have clarity on it's a little concerning so basically coinbase has been having like a campaign to um lobby for Regulated regulation clarity or leave the us If they leave us, I mean, that's that's a pretty large exchange. So I think last week they were granted a license to operate in bermuda and they're looking into derivatives training Trading internationally, which is cool But this also gives them a leadway to start that exit If there is no regulation clarity and it doesn't look like mr. Ginsler is trying to give us that clarity I don't know if you guys watched the theorying last week that he had with congress, but he got grilled and You know, you know when he was asked like, oh, can you tell us whether Ethereum is a security or commodity? He literally could not answer and these are things that are scary As well as it jeopardizes a lot of what's going on and You know the right now the there is two sides of the parties right now where it's like yay Go get those cryptobros And then there's other people that are like hey slow down you're hurting people So we're in a really strange stage right now and the last thing we need I think as an industry is Games We do not need to play games. We need to know where we're going how we're doing things Etc because it's just a very very strange time. What's happening right now And I think it's just insane that We can't get straight answers I think I think there is Certain reasons and certain parties that Are being avoided To not get straight answers for example So a lot of people don't know this but Circle circle has their usdc stablecoin and they basically have a lobbying group that Wants to make usdc the Stable the the stable coin of settlements like officially within the us and Basically ban all the others so no usdc no die none of it. They want to get rid of all of it and they just want to be You know themselves the truth is there's a lot of players within the industry that Yes, they want regulation, but at the same time it's almost for their own benefit Which is driving some of these lawmakers to you know, not Tell us yes or no in a sense Because there is a lot of people who hire lobbying groups for their own benefit and I don't know it's it's it's not a I think that in general Governments need to focus on not driving away business and general guidelines and framework For what's in front I think as long as we have those and don't have any Definitive answers, especially for lobbying groups. I think we should be okay but Just randomly suing people. I you know just every day is I feel like this is it's it's bad It's bad. Yeah a hundred percent and and and and I watched some of it When he was getting grilled and at being asked, you know, is it is he thermal a commodity or security? And then he just he wouldn't answer he would just give us he would give a You know, it's like he Yeah, it's like he had a script and he was trying to like, you know Say his memorized lines and then the guy kept cutting him off and they're like, that's not what I'm asking you I'm asking you is ethereal and and then Gary was like, oh, I don't want to speak to any specific and he's like Well, I mean you already spoke into other specific. He spoke about bitcoin So if you can speak about bitcoin, why can't you speak about it there? Which is the second largest market cap coin on the market, um, you know, and and he's like, oh because I don't want you I don't want what was he said something about um Him prejudging something, you know, I just wanted to pre-judge but right, you know, the issue is the issue is he's He's giving a lawsuit. They're they're suing. Yes. He's giving lawsuits everyone and there's no clarity He did he did things with Albright first. So this guy's at an MIT, right? Albright also at an MIT and You know, he used to show Albright people thought Gary Windsor was gonna come into office and he was gonna be You know the saving grace because he used to talk about crypto and you know, this is great And um, everybody regrets that decision now because he's just like hammering these companies left and right um, and you know to be fair To be fair what's happened with Celsius block by FTX and all the in between is very scary Uh and has in fact to an extent put him under the bus because um of his relationship with FTX and you know Some of the companies in between so he kind of has to be tough, you know, like I understand him from the perspective of Okay, uh things are getting out of control. We got to protect consumers We got to make sure we go after these companies and keep them accountable but at the same time, um, you're going after them on technicalities according to what you're you're saying because If there is no Premeditated, you know, like just frameworks or guidelines or whatever for anyone to follow and You don't want to speak on it You don't want to clarify on it But you want to take action on it like it's just it looks bad It's just it looks really really bad. It makes real sense Yeah, no, it's it's not great. It's not great the situation that's um happening right now um, like I was I Like people are shocked with a whole like Algram thing because he used to be in classes at the university talking about how great he thought Algram was and how you know, this and the third and blah blah blah blah blah and Here we are Him serving them. You know, it's it's like and it's funny because people are just like, oh is he going to give himself a fine like he did to Kim Kardashian because he's promoting an asset and It's just one of those things where it's it's it's definitely a tough spot that he's put himself into but it's something that you know This is your job And you need to be held accountable just like any other employee at any other Industry firm company corporation would and that's pretty much the end of it. Um, but yeah Enough about Gary um so Yeah, I I just think it's going to be interesting to see what happens with a lot of these um centralized and decentralized exchanges over the next two years within the us because quite interesting Um, and with these elections coming up so besides, uh, uh, Apple we've we've seen the rise of I guess internal Wallets and abilities within devices. Um, we saw it with samsung now. We're seeing it with apple except There's vulnerabilities. So it is not recommended right now for you to use The apple wallet directly to hypercryptocurrencies because there is some major vulnerability project that's sold out and um Most people are tired of thinking about a biden trump reelection Um, I think it's crazy that some of these guys are even going still I don't know. I think we need to have retirement rules. Yeah, there's no way that biden can run again, bro Like I don't even know what's going on. I don't even Yeah, like like and and I mean no offense, but like Like Even even trump at this point like how old is he he's he's getting to his 80s, right? Like these guys need to sit Down like isn't retirement age. What's retirement like 65 or something like 65, but there's definitely a retirement crisis So there's there's there's definitely retirement crisis of people who You know cannot afford to retire by 65 because of the cost of living going up diet more much faster than The ability to sustain yourself and you know money that's being given out to doing certain jobs But these are people who don't have that necessity Um, right that I just don't even know what they're doing right if if the retirement age is 65 Then I think the You know, we should put a limit on on the people that are running for presidents as well Um, you know, maybe not 65 Maybe you could extend it, but come on like Like this these last few years have been Have been very very weird to say I keep getting uh disconnected again. I don't I don't know what's going on, but I keep getting disconnected supposedly Or was it Reagan? Reagan was in his 90s. Was he wow in his 90s? That's crazy No, hold on No, he died at 93. No, how old how old was he? I think he was the oldest president to live so far in 93, but um The oldest person to assume the presidency was is joe biden. Yeah Yeah, so he's he is the oldest person to be inaugurated to be a president. Um Yeah, and which and how old is he? He's currently 80. Yeah, I I think I think after this, um, we need to To set some type of standard or some type of rules, you know, based on age because um We've seen we've seen this fall off really really hard. Like it's it's been crazy It's been it's like you fall off a cliff the last like two years or something. I don't know, but um But yeah, it's been a steep drop off I think we need we need to we need to put some sort of rules against the age of of people running for president Yeah Yeah, I uh And so I guess you can't you can't be younger than 45 And then you are 40. I think it's 40. Maybe it's 35. I think it's there's a 35. I don't even let me say I'm not sure Let's see It's 35 you have to be at least 35 And the I think the youngest president that was elected into office was 43 and um, yeah, but anyways Politics politics are a slippery slope Yeah All right, uh, we got anything else in use or is that it? No, I think that's it. Um, there hasn't been uh, it just arrives at rise of the meme coins and um, I guess navigating that whole ordeal, which I which we kind of talked about a little bit Um, but uh, you know, I all I can say is guys there was going this is this is the period of time Where there's a lot of bs that happens. It's like it's like all points. It's like the like D This is kind of like the defy summer of 2020 Um, we're just all these meme coins start saturating the market and you just see them You know pump every day and new things get minted every day Uh, so yeah, all I gotta say is be careful People who know how to do, you know, navigate and make profits off this of the true degenerates, you know, um and have fun be safe, but It's it's gonna be a hectic time You know, if you're not somebody who is a good trader or can pay attention to charts or has, you know, things set up to Have fail safes then Probably stay away Just, you know, I think, uh, region to the safe stuff. I think that we should just create our own meme coin Um, do it live Do it live on on a live stream And um, and and see what happens I mean, really theoretically, yeah, just because there's it is funny because last The last cycle there was this guy who made um a scam coin. It was really called scam coin Do not buy this token and like people like, you know, just throwing money into this and like over two days Like there was like a million dollars in tbl in it and I was like, this is insane Like people just do these things um kind of like pure humor and yeah, it's cool and all but it's it's like guys Last thing I need unfortunately is for someone coming after me You know, because I made a security, but I mean there there is no Any I think as long as there is no nothing behind the token and the token and it has like no significant value or meaning Um, I mean realistically you shouldn't be fine Kind of like that guy who was like, hey, this coin is a scam like do not invest into it and people just did it anyways like I told them I I was honest, you know I think I don't think you can like get like pin someone down for that All right, so, um Let's see here. All right. So let's jump into, uh, the bitcoin price analysis to next week's, um Big event a big volatility event So, uh, before before I jump into it, make sure if you guys have any questions We're going to do a q&a after this So any questions about anything that we've already covered into today's live stream Or that i'm that i'm about to talk about now or if you have any questions about anything in the going on Within the market right now drop it in the comments and then we're going to answer those for you So let's go ahead and jump into, uh, today's market analysis and what it exactly it is that i'm currently looking at So as we can see this is a weekly chart right now And it gives us the bird's eye view of pretty much what's going on in the market, right? So, um, if we kind of zoom out we can see, you know, we had the whole run up and then all of last year Basically, we were trending down, right? So we're trending down. Um, let me put a These moving averages. So we're trending down and now um We can see that we kind of bottomed right here in this little Range right here kind of bottom there the the bottom price was pretty much 15,450 Um, and now we've seen a change in uh in the trend right now So we can see that ever since we set up this bottom here We've been setting up higher highs and higher lows, right? So that's currently what we're watching. That's the first time that we've set those since The last time we set it was actually when we bottomed here and then we went up and set up new all-time high Um, and then the last time before that that this happens, you know, we have to go all the way back to When we started the previous boron. So as you can see, this is usually the sign of Starting a boron. This is how a boron starts The whole trend basically reverses and changes and it starts going in the opposite direction Now, of course, there's always going to be pullbacks within that trend Um, as you can see, we had when we first bottomed out here, we ran all the way up to Let's see. We went up as high as 25,285 and then what happened we went all the way back down to 19,526. So that's basically what a five thousand six thousand dollar move down before Then moving right back up So now we've again another impulse move we've gone up as high as 31 thousand dollars And currently we're sitting at 27 thousand dollars. That's a four thousand dollar interest. I mean a four thousand dollar difference and um, we can potentially go lower, um, and and we're gonna go more into into that now um, let me go into the daily time frame here and You see these little The you see the first the big red box this big red box is the resistance range, right? We've been talking about I've been showing this resistance range for a while now You know going back to the weekly time frame really quickly You can see that this has been a point of interest for quite quite some time since 2020 right um, and this is this is a big range here. So if we look at this you can see that this is played as a support and resistance here back in 2020 and 2021 Then once again in 2021 when we had this big big, uh, 50% pullback again, it was um We pulled back into the support which is this same red box and um last year when we lost when we dropped We had this massive move down This happened after we lost the the the support here in this range. So Now we're on the other side of that which is it before it was a support And guess what happens to supports once we lose them. They flip into resistance. So that's currently where we're sitting right now Um, just so you have an idea of of what we're facing on the way back up, right? So now if we can't break through this on this first go-around I'm thinking that we we're going to pull back into one of these boxes potentially And these boxes are three different levels. So first we have the $25,000 level. That's of course a big, um A big support area a big psychological number. It's halfway between 20 to 30 Um, and we've we've seen it here that you know, we've we've seen this as a resistance level Um multiple times here. So this is going to be the first area of support Um, the next level is going to be between 22 to 23 23.5 range and you can see that this played a Uh, a major role here a few times, right? And then the last level, of course It's got to be all the way back down here. This is $20,000, right? We already know 20,000 $20,000 big psychological number $20,000 a previous all-time high $20,000 has played a lot of roles. It it's also happens to be where we have a CME gap, right? So there's a gap there. Will it get filled? Will it not? Um, you know We don't know. Um, but the previous one did get filled. So just something just to kind of monitor that, right? Um, so those are that's the resistance that we're facing right now And those are the support areas that we could potentially drop down to Um, and then the other thing that that we've we've been watching we've been talking about it of uh multiple times over the last few weeks Is the divergence, right? So if we pull up, um an rsi here We're gonna be able to see it pretty clearly just get a trend line. We already have the trend line going up So on the rsi, let's just draw the trend line where it's at right now And you can see the clear divergence, right? We have Prices moving higher while momentum is moving lower Um, so what that usually when that usually happens that there's you know, there means that there It means that there must be some sort of pullback because there's a disagreement With the price and the momentum, right? Momentum's falling. So how can price be going up higher? Um, so usually these two need to be in line with one another Right. So if we go back here, you can see that as price here went up Momentum also went up then when price went up higher momentum went up higher So now as price has continued higher momentum has dropped off So usually that points to a short term. Um, you know pullback, right now if we look back Go all the way backer. We say, okay, let's look for the last time that We saw something similar where price was going up while momentum was dropping So let's look for something like that and um, the the most recent one I found was actually all the way back in 2021 in um And and it it it's funny because it's actually Around the same period, right? So this started this move up started in january and it went all the way up Where it topped out around april So that's exactly where we're at right now, right? Um, we our move up our current move up started in january and Our highest point has been in april Then what happened? Um, well last time we saw this We can see that the price is moving up higher higher higher And then if we draw a line on the momentum Um, we can see that momentum was going lower and lower and lower So again, the same thing that we're seeing right now price was was moving higher But momentum was moving lower. So what ended up happening? We actually had a 50 percent retracement over the next few months Um, and that's gonna be may June july And it wasn't until the end of july where we started rallying back to the upside So again, i'm not saying that this is what's gonna happen. I'm just showing you guys what happens last time that we had something similar now, um During this you also have to keep in mind what was happening during this time Right during this time. We had china banning bitcoin. We had tesla pulling out of bitcoin Um, we had um, you know the whole campaign against bitcoin not being green Um, we had a lot of things going on. We were towards the end of the previous bull cycle Um, we were at the end of you know, all that funding all that Money printing uh, zero interest rates, you know, all that stuff. So we do have to take those things into account as well A lot of things that were going on And again, it was the tell the tell end of the previous bull market. So it's different, right? But that's just to kind of give you an idea of what we saw So i'm not saying that i'm expecting a 50 drop here. Uh, because a 50 drop from its Preve it's current high right the high that we just set 50 drop would put us basically back down at the exact bottom that we set back at $15,000 So i'm not saying that we're going to get a 50 drop But I do think there there has to be some sort of The rsi and the price need to realign Right, whether it's consolidation for the next few months or some sort of pullback as we're seeing now Um, there has to be something that realigns the momentum of That we see here in the rsi Realigns it with the price itself All right, so that's current. That's the biggest thing that that I think we're watching and because again this week There's no real economic Uh, no real nothing really big on the economic calendar as we've seen the last few weeks while we've been rallying up Um, you know, there's reason to believe that this week we either continue to consolidate or we could even uh You know have another leg down So that's currently what i'm watching. Uh, the main things that i'm watching this week I will love it for it to just continue to consolidate here as we lead up to the fed interest rate hike Decision next week. Um, which would bring volatility in and probably a move up We've seen move ups. Um, the last few times that we've had that um And then after the week after that then we're going to have the cpi data As you guys know if we look at see at at this uh at the data here at what's been going on All these move ups here every time that we've had these big big big move ups that you know, I've been You know 10 20 percent move ups or whatever they have they've been if we look at the at the weekly here We can see a lot more clearer These have all come the week of the cpi data release So because the cpi because inflation has been dropping Um, you know bitcoin has been running up. So we've seen this 21 percent move up this 26 percent move up and in the last cpi data release date we had a seven percent move up So it wasn't as big as these the previous two, but again, it was another big move up during that week So, um, I think that we could potentially see something similar But until then we might either consolidate here and we can potentially even see another Uh, uh Leg down here to one of these support levels that I'm watching here now as far as what I'm doing this week for the most part I am uh Probably staying out of trades out of day trades for now until I see I don't want to trade in the middle of this. I want a clear move in one of these directions So, um, that would probably be, um, I don't know it would be either above $28,000 I would start looking for long positions again, uh, potentially Or below $27,000 I would uh be looking for some short positions potentially So those are the two levels that that I'm looking at and as you can see today, we've touched Basically both those levels we've hit a high of $27,997 and a low of $26,925 So you also have to be careful not to to get stuck in one of these, um, you know Fakeouts, right? So, you know, the market loves to do that loves to sweep the lows And then once you enter your, uh, short position, then it removes right back up and it basically stops you out Now I'm back Can you see me can you hear me? Uh, I can hear you. Okay. Okay. Yeah, you're like bear and then you're gone. I was like Yeah, I don't I don't obs obs continues to disconnect. I don't know why I'm gonna have to look into it this week because this is the second time the second week that that we've had this happening I don't know what is going on but um But yeah, but I don't know what's the last that that I covered but uh, basically what I was I was kind of wrapping it up Pretty much everything. I mean when you start wrapping it up, then that's probably when you cut out for me to be honest Yeah, so yeah, so I'll just talking about that. Uh, be careful with uh, the market trying to Um, potentially, you know Either either take you out from the on on the top or the bottom. They likes to sweep the lows and highs So gotta be careful with those. Um You know as we go through throughout the week, I'll be keeping keeping everybody updated on my socials and discord You know depending what I what I what I did what I do here depending how That week progresses. So that's what we're gonna be watching here for the rest of the week and uh, and yeah, it's pretty much it on that now, um I don't see any questions here. So if anyone has any questions for the q&a We'll cover it. If not, we're gonna wrap it up. I know, uh, bitcoin queen has um Something else to get to she got things popping off. I know you have uh You have a conference coming up. You want to talk a little bit about that? Well, there's a community conference that I helped put together in the miami community because um, I like to help the miami community so It is called the shit coin conference. Um, it is happening on may 17th guys If you're going to be at btc miami and you're not going to btc miami and you want to hang out with some cool people Come to shit coin. Um, this year it is at night Um in previous years, I mean anyone from tone vase to oji's like da vinci BitBoy showed up. I don't know. He's going through like litigation right now. I don't know what's going on with him So I don't know if he'll be here this year, but um, usually all the cool people come out Uh and hang out and um a lot of people like it because it's kind of like what crypto conferences used to be Just like a very lax environment um The story behind shit coin is that uh two maxis if it's not a bitcoin It's a shit coin. Um, so we just decided to meme a conference into existence around, um, not necessarily shit coins or all coins per se Um, but it's really just to fight like anti maximalist culture. Um, and the only reason is because There is this article if anybody knows who's j who jamison lop is He's probably the one who said best uh like originally the idea of like, uh, bitcoin toxicity and, um, maximalism Came from, you know, not only protecting The asset and making sure that it gained its place in society where it's gone today But it's gotten kind of out of hand. Uh, you know, it served its purpose in the front run to like you know Help navigate people Uh, in a sense to stay away things like, you know, all these meme coins that are coming out, for example, that'll like rug you Like overnighting you don't you don't know it hit you, right? Um, that that was pretty much the the idea behind maximalism But it's it's gotten heavily toxic and it's not, um It's not a really good look for bitcoin and cryptocurrency and generally more Um, it's going to the point where people are now demonizing bitcoin and saying, you know, it's it's the It's a toxic culture and this end of third and you shouldn't join, you know, bitcoin or like a lot of people Who I know were friends of mine who got into crypto very early They're like, I'm not going to the bitcoin conference because it's just full of, you know, taxi, snobby, maximalist And that's not the image That a decentralized movement and sovereign currency should have um, it's just not um, and it's just not the attitude that Will welcome mass adoption So, um, you know, maximalism is fine um, but taking with a non-toxic approach, um, I highly recommend, uh, uh, google, um, james james and lop Bitcoin maximalism and there's just this wonderful article if you wrote it's it's a very very long dialogue, but it's it's very good um, and yeah, it kind of talks about that culture and um, where we kind of need to go as a community and I think I think, um, the idea of maximalism is it okay, you know, you I might I Personally, I do most of I'm wearing the white paper. You know, this is a bitcoin white paper Like I bitcoin is my favorite chick coin And I can say that because originally bitcoin started as a chick coin It started as something that you know people rejected people didn't like had no values until it became What it is today, right? Um, and I think as long as we can like Realize that and accept that and uh, you know Hopefully push people into the community. Um, yeah, I think I think that's that's what that's the the Characteristics that we need to show To attract People but yeah, so if you guys are interested chick coin conf.com May 17th There you go All right, I think I got my soap box for a second I think we're gonna wrap it up with that. Thank you guys for those who tuned in Appreciate you guys tuning in. Uh, we do this every single Monday Let's talk crypto at 1 p.m. Eastern Standard Time where we cover everything that's going on in the market from news to uh, to prices to You know, our overall market analysis and a live Q&A at the end So, um, you know as as we grow this uh, because we just started this back up recently So as we grow this bigger and bigger, you know, I'm sure we're gonna be getting more and more people involved and uh, And I'm definitely want to grow this into something a lot bigger where We could do this and have people come on the show and all that and uh, just make it a lot of fun. So, um That's it. Thank you bitcoin queen once again for being here. Uh, we'll be live again next monday Uh, and uh, thank you guys. I'll see you guys on the next one as always peace and love