Boring Chop - Up Soon?

TechnicalRoundup analyzes Bitcoin price action, market sentiment, AI impact, and crypto trends with insights on trading and resistance levels.

Key Takeaways

Bitcoin is trading sideways with key resistance levels holding firm.
Market sentiment is overly bearish despite stable price action.
AI sector growth could benefit crypto but faces competition for investor attention.
Momentum trades could be lucrative if Bitcoin breaks resistance.
Security concerns about AI breaking Bitcoin wallets are unfounded.

What the video covers

Bitcoin price remains mostly sideways with resistance around 617-656 levels, showing little significant movement recently.
The S&P 500 has been trending upward, contrasting with Bitcoin's stagnant price action.
AI sector growth is expected to positively impact crypto, but market headwinds and past scams have dampened sentiment.
Momentum trades in Bitcoin could be profitable if resistance at 656 breaks, though the host dislikes momentum trading.
Crypto market sentiment is overly bearish despite little fundamental change, with many traders zoomed in on short-term fluctuations.
Meme coins and influencer scams have drained money from the crypto market, negatively affecting overall confidence.
AI is unlikely to break Bitcoin wallets; security remains strong against such threats.
The crypto market is currently range-bound, with no major breakout or breakdown expected in the short term.
There is skepticism about investing in AI infrastructure projects despite the sector's correction and potential.
The host emphasizes caution but remains slightly bullish on Bitcoin's medium-term prospects.

Chapters

What is the current state of Bitcoin's price according to the video?

Bitcoin is trading sideways within a narrow range, facing strong resistance around 617-656, with no significant breakout expected soon.

How does the AI bubble affect Bitcoin and the crypto market?

The AI bubble is expected to be positive for crypto long-term, but short-term investor attention shifts to AI, causing some headwinds for crypto.

Are there any security concerns about AI breaking Bitcoin wallets?

No, the video suggests that concerns about AI breaking Bitcoin wallets are mostly noise, and Bitcoin wallets remain secure.

Full Transcript — Download SRT & Markdown

Speaker A

Hello. Good evening, good morning, good midday, good night, good whatever. It's getting too conflicted for me. But anyway, uh, nice to have you guys here. Um, I promised Wednesdays. Um, so I'm here a little bit late. I had some stuff to do,

Speaker A

but we managed. So yeah, probably quite late for Europeans and might be a bad time for Americans generally, but it is the time that I have time. So here we are. Um, before we start the show, big

Speaker A

shout out to Kraken for sponsoring it. Really appreciate their support. They have all kinds of stuff now. Um, options and um options and um trade market and prop stuff and like pretty much everything you can think of. So if you

Speaker A

want to go check that out, go check it out. Uh, links are in the description.

Speaker A

Really appreciate their support. Um, here we are with um the the S&P on there. I don't actually know why, but fair enough. Up only.

Speaker A

Whatever. Here we are with Bitcoin. Still exactly where we were last month. Um, Doug, is it true that you bought a yard recently? That is not true. Since when do ducks need yachts? Ducks can swim.

Speaker A

Have you ever seen a duck on a yacht? I don't think that that is the case. So, no. No. I didn't like I'm not into all of that kind of stuff. I'm more than happy living a more normal life. Um,

Speaker A

never really been been interested. Seems like a headache to me. Whenever I have to put a bunch like think a bunch about maintenance and whatever, I'm like, "Ah, no, thank you. I just want to live my life. If I wanted to be on a

Speaker A

yacht, I'd rent it. Um, but I also don't really want to be on a yacht, but maybe that's just me. Um, but yeah, we've had a little bit of shitty price action uh on Bitcoin. We'll talk about it. Uh, we we also have like

Speaker A

sailor selling and like a bunch of other stuff. It's not the best, but is what it is. Uh, but the S&P's been up, so that's at least something. Um, we've had like a an up week last week, but yeah, high time frame, Bitcoin. Um,

Speaker A

I would like to see close green, no matter how green it has to like I I mean, you could argue like, hey, you'd like to close it at the boundary, making making like a a long setup. Um, which fair enough. I think

Speaker A

that's [snorts] all right, but I would like to see it close close high up. So, we we still have three weeks to go almost. Um I would like to see just continuation, but we'll see. We'll see how it closes. Anything below here,

Speaker A

um which is for the people that cannot see the number 617. Um that would be bad news. I think any close below there would be bad news. Um any close above there or or around there is fineish on the monthly time frame. Uh

Speaker A

on the weekly time frame, nothing's really happened. Um we keep pushing against that resistance and one day if we push in into it again, uh one day we'll break it. I think the moment we do break it, um there's momentum trades to

Speaker A

be had. It's probably a good trade. I hate momentum trades, but that's probably a good one. uh you break 656.

Speaker A

Uh I think it just runs. Um we drew these lines last Wednesday. So for for the people that watched that video, um that's probably going to all look familiar and you know why they are where they are. Um how do you think the AI

Speaker A

bubble will affect Bitcoin? Um I mean it's going to be it should be good. It's just we have so much headwinds and there's been so much drifting that the market's just struggling like Trump has drifted and made his own coin extracted

Speaker A

infinite the every single influencer that you know of has done it. Um, so there's a lot of money that flew out like that that flowed out of out of um, crypto and people are kind of like not putting faces to that money, but that's

Speaker A

just like normal people, right? Like a bunch of normal people got scammed, got extracted from, and they are obviously not going to have the best opinion of crypto. And that's kind of why we're struggling. um even amidst like a

Speaker A

narrative like with the AI stuff that you would technically think crypto should do quite well in and just too much extraction and that might take a while to digest.

Speaker A

But yeah, um so on the weekly time frame, so I don't I don't think that the AI bubble would be necessarily bad. The only reason why it's bad like is is that it it kind of people are looking at greener

Speaker A

pastures um as in like AI stuff moves 100% in a day. Why would you be trading crypto? And to that I say fair enough. I mean like I don't understand these people trading the the memecoin [ __ ]

Speaker A

um getting extracted from your favorite K if you can just trade the trap markets instead have the same kind of volatility there but you're actually buying stuff that is that is or could be decent. I I just like like I don't understand the

Speaker A

appeal of the meme coins if you can just have fun in the bubble that's going on in the trap world where you're not enriching like influencer scammer whatever types. You might be you might be donating monies to like a bunch of

Speaker A

people that think AI is going to change the world and a bunch of grifters there too, but it's a little bit of of a different story. Like money that flows into that is going to have an impact in

Speaker A

the world. Um money that flows into meme coins and to be extracted by KS that's only going to be negative if anything like you're giving more power to bad people. don't necessarily think that's a good thing, but I mean,

Speaker A

everyone can do whatever they want. Duck sent Doge to 420. Yeah, we can [clears throat] talk about Dogecoin later. Um, we can add a few coins to the list here too if you guys want.

Speaker A

Do you think AI can break Bitcoin wallets or is it all noise? Probably all noise. I think you would be able to secure them. Um, so I'm not worried about that.

Speaker A

But yeah, the weekly time frame, we're getting rejected from resistance. The resistance we've tested a 100 billion times. Um, we're still kind of trading in this whole in this whole cluster here, right? So, you could argue like all of this is is

Speaker A

resistance. It's fair. We're getting resistant like we get rejected by the top of the cluster, held up by the bottom of the cluster. kind of going back and forth, back and forth, back and forth in like a 1% 2% range. So, like a

Speaker A

lot of people are very zoomed in and kind of freaking out about price action.

Speaker A

Um, nothing's happened in the last 1 2 3 4 5 six like six weeks if not 7 8 9 10 as in like in the last like if you if you look at it a little bit more zoomed out. Ever since we had

Speaker A

that nuke in in June, we didn't really do anything like it's sideways with a little stab below, but not really. Um, so there's nothing that's really going on here. And then on the daily time frame, uh, we're just in the range. Um,

Speaker A

didn't quite make it to the top of the range. If you drew it in here, we talked about this on the show, like that you could draw it in there. Um that's that's a rejection doesn't really matter in the grand scheme of things of the

Speaker A

range. You just don't necessarily like I think where it is right now like if it goes much lower the daily starts looking a little bit shaky and then we might retest we might retest in here as in the

Speaker A

closer we get to 6 point like 62.2 uh 62.2 to whatever um the more likely it is that we take a stab at the lows again. So, need to be a little bit careful um if it if it rucks a little

Speaker A

bit harder. Um but so far, nothing really. So, nothing's happened. Um nothing to talk about. No updated stances or whatever. It's the same when people say Bitcoin is dead is always the best time to buy. Yeah, but people always like Bitcoin goes down

Speaker A

like 5% and then people like Bitcoin instead. Um, so like that's like it's there's always going to be someone that makes you justify being bullish or bearish that you can counter trade. It's like a little bit of a fool's game. It's not

Speaker A

like everyone agrees. I do agree that sentiment is quite bad. I think people are overly bearish. Uh, this thing just it's just nothing happens right now. nothing happens time and I think up is probably more likely than down

Speaker A

and for that people are too bearish like people are like 40k is a given.

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looks much stronger Um, generally we've we've seen a bunch of EFBTC strength and that still looks quite good. I kind of like this setup on on EBTC. Um, if you want to know where the levels come from, doesn't really matter. Um,

Speaker A

it's mainly I would argue if you want to it's kind of like this and we took a step below it. We retested it. Um, could argue like you want to draw it like this. And this is what I like better. That was quite

Speaker A

nice. But now that that has played out, right, we had that nuke into support and we bounced from it. Um, I would argue you would So that support is not going to do anything anymore. We've already done we've already done the whole

Speaker A

double test. If we nuke in here again, uh I don't I don't like it. I I don't think that would hold for much. Maybe something like this. Right. So, when you're in that in when you're in that situation, you'd probably want to redraw

Speaker A

the moment it's played out. As in, you had your bounce from the support that you wanted it to bounce from and then you're kind of like, what's the next best area of support a little bit higher up because that's where it needs to

Speaker A

hold, right? So, I think this is fine. if you're a little bit more zoomed in.

Speaker A

Um, problem with that one is that it kind of retraces the entire up move, which is not the best. And then you have some sort of support in here.

Speaker A

And that's kind of where we're bouncing from. And I would like to see that hold um on on ETH PTC. But there's not a bad like it's not a bad chart. It's not the best, but it's not a bad chart for how

Speaker A

much [ __ ] E's getting. Uh it's not a bad chart. Um and then like you see that's the the monthly level. Don't necessarily need it, but it worked out quite nice.

Speaker A

Like resistance in here, a broke and then support here. Um what I do like is that we kind of made a low here and then we made a new low and that couldn't like that didn't stick. And so far we are

Speaker A

like still in that downtrend kind of thing that we've had going on. Um, but we're kind of trying to break out here and um, it's actually not looking too too bad.

Speaker A

Um, I could I I would give it like I think it it probably will try to break out. I'm kind of in this range here right now, low time frame. So, we have like a little range here. Um, and that

Speaker A

looks not so bad. Like I'm still still heavily considering buying ETH. I might I might sit down today and and buy some ETH. I like it. Um on the on the Bitcoin chart and on the USD chart like on the daily

Speaker A

whatever doesn't really matter. Uh we go on the USD chart. Um this what we drew out on Wednesday. we are still kind of like running into that resistance. Uh same here on the weekly time frame. Um it is kind of buying into resistance on

Speaker A

the USD pair betting on the resistance breaking and I think if that resistance breaks same as Bitcoin uh we probably teleport from 1.9 all the way to 2.4 4 2.5 and then people will have to consider chasing at that point. Uh and I hate that buy

Speaker A

right right here. If I buy here at 1.8 um I can easily be like hey uh I'm buying here and that's kind of why I'm so heavily considering it. I'm buying here. There's a support down here. If we

Speaker A

close below there I'll just get out of the way. I'll I'll take my I'll take my 10%ish loss if we lose that support. Um, and that's just how it is. Um, versus we trade up here and then we're chilling

Speaker A

here, maybe push a little bit higher, you start buying and then it rugs all the way here. you're already down 20%. And then you have to consider like do I want to puke this support or if it goes lower again

Speaker A

um do I puke that one or just hold and at that point you're just in a really [ __ ] situation, right? Um so that's why like I don't like chasing it up if I if I can avoid it. Um and it it kind of

Speaker A

seems all right to me. So, might have to might have to get some and then buy some more if it breaks. I don't know. I'll think about it, but I think I'll get some.

Speaker A

Just like when they said they want to buy 8K instead of 16K. Yeah. Who was that? Bozo telling Don he was wrong. It was like Crypto Capone or something.

Speaker A

Yeah, that was Capo. Good times at 16K where I was like this the bottom and he was like, "Nah, bro. It's going to It's going to four digits. I was like, h I don't I don't think so. [laughter]

Speaker A

Well, good times. Good times. No, but I'm I'm kind of like it it looks much better to me um than it has in in a while. And I know I'm saying this why we're having like a red daily and we've

Speaker A

had like three days to the downside, but I still kind of like it. And and I especially like how some of these like how ETH's trading. Um and that might just be me buying the top could be. It's

Speaker A

not like I would buy the top by much. It's up like what like 10% 20%. Yeah. After a draw down of 70%. So I don't know. Seems seems kind of all right to me.

Speaker A

So yeah, that's Eve. Uh, like I said, it is right at resistance. Um, I kind of feel like the resistance is more likely to break than not, but if it doesn't, this going to get rolled over so quickly

Speaker A

and everyone that buys that resistance is going to look like the biggest [ __ ] Um, so I'm I'm happy to take that role.

Speaker A

Uh, it's just it's just how it is. Um, it's monthly resistance, weekly resistance, and it's daily resistance. and I'm considering to buy. Maybe I'm maybe I'm brain dead, [laughter] but I I kind of like it. I kind of like

Speaker A

it. Um and there is like even on the on the daily time frame, you could mark some invalidations out if you wanted to.

Speaker A

Yeah, that's that. Uh we have Monad, something we talked about a bunch. Uh it's not really moving much.

Speaker A

So like just been sideways against Bitcoin, which is a good thing. Um like if you check any other Bitcoin charts, Dogecoin, Bitcoin, that's how they look like.

Speaker A

Do I only have that one? This is so not That's so illegal. We'll add some We'll add some.

Speaker A

So now we have Salana. That's Salana versus Bitcoin. Had a little bit of a bounce sidewaysish, but generally down. And then like like I said with Monand, it's just sideways. Um there's not really that much going on. It's still like the

Speaker A

same kind of like we talked about the trade above 0.025 025 and then it ran up and it was kind of like that trade is invalidated below below this below this weekly here.

Speaker A

So that trade was invalidated in profitish um like technically was invalidated here at 0.027 0.208.

Speaker A

Um I'm just sitting there holding like an like a [ __ ] Um, but I still kind of like it given given this relationship obviously on its own not the best but this is quite a good chart to me against Bitcoin. Same story

Speaker A

um for like a few others but not many like most like most look like this like forever down sun monet is not coming back. You never know. Possible everything could go to zero and that's just how it is. Uh

Speaker A

that's the risk you take. But I do like I do like um E. I like Monat. Um uh Zcash is also not so bad. Um the more time it spends here at resistance, the better it gets. Like that's

Speaker A

like depending on how you draw that. It's kind of like it took a stab at the resistance, failed, had a false breakout, went back below it, had all the reasons to go down and didn't. Um, so Ccash kind of looks good to me as

Speaker A

well. Just needs a little bit more. It's so close to breaking out again. And after like a breakout after a false breakout is quite bullish. So that just needs a little bit more. Um, like I said, a lot of these need just a

Speaker A

little bit more. Don, are you considering buying AI infrastructure projects now that there's 40% correction in the entire sector except for Nvidia? Um, not really. No. Um, I I genuinely think the AI stuff is going to take off and

Speaker A

going to keep like a hold of the world. Um but yeah, I don't know. I'm just kind of not into trading it too much. I might at some point, but right now I'm just kind of like, yeah, it's cool. Yeah, I could trade it.

Speaker A

Kind of trading like all coins, but I'd rather just buy stuff and hold. Not really not really into trading that.

Speaker A

How's life? outside the EU. Um I mean life in EU was great in my opinion like I like but I didn't see all like a lot of the Americans kind of were like Europe is a [ __ ] hole and it's going to

Speaker A

[ __ ] and it's kind of like I don't know seemed kind of nice to me. Um and now outside of the EU also kind of nice like I mean New Zealand is is unbeatable um in terms of landscape and people are

Speaker A

great so I like it. I'm happy. How do you see hype? Uh, so hype's been underperforming a bunch and is now bouncing a little bit. I wish we had a little bit more history here. Let me see if any of the other ones has more

Speaker A

history. Yeah, that one. Um, so had a little bit like we had that whole breakout, false breakout, retest, nuke.

Speaker A

And this is, look, look at this. This is what I meant with Ccash earlier, right?

Speaker A

So you have that fault, you have like a rangeish, you have a false breakout, you have a retest, and you nuke, right? And you can see the urgency here, right? So like those are some big red candles. Now

Speaker A

look at this. and you have like you have a false breakout and then you had the close and now we're just doing nothing. There's no urgency, no nothing. There's no strong selloff.

Speaker A

Um that makes me think that that is probably just like a sign of strengthish that we like that it keeps pushing into resistance and doesn't doesn't go down.

Speaker A

[snorts] [clears throat] Uh but anyway, let me go back to hype. So I had that whole thing sold off, ran back up, and then you take the new one. Um and we kind of like tested support, tested it again, closed

Speaker A

somewhere around there. Um you can always box these out, right? And this is this is why I like the boxes so much.

Speaker A

Um, you see the lines didn't quite fit, but the box mate makes it work and gives you the right kind of mindset to trade these. So, you have the box here and that's kind of how I would draw it and

Speaker A

then you go into the box and you bounce and that's kind of like where we are right now. Same story as Bitcoin. Um, Bitcoin monthly dropped into support bounced hype weekly.

Speaker A

I hate this low history stuff. Um, dropped into support and bounced. Nothing too strong yet, but also it doesn't really need much. That's kind of like the the same story everywhere. Like these things need to go up 10% and then they look

Speaker A

incredible. Um because above here this thing starts looking really really good like above 5960.

Speaker A

Um and then like where's it going to stop? You have a range high at 72 and then you probably make new new highs, right? So that's the only resistance in town. Um so like if you're buying 50 52

Speaker A

you kind of have like an invalidation at 45. I think that's kind of makes sense.

Speaker A

like if you think this is going to go up. Um, and then I think you would not want to take off at 59. Like if you bought at 52, you'd probably just want to hold. Um, now should you be buying

Speaker A

here? I think that's a little bit of a more complicated question given with these kind of resistances. If this is bearish, you would actually like I think generally like if this is a bearish, you had that price action here

Speaker A

and you broke down. If this is bearish, you should not retest. So, you should not even run to 59. So, if it's bearish, this is basically the top of it. Like 59, 57, 58 on on like a wick basis would

Speaker A

probably be the top of it if this is if there's going to be a top. It's probably not going to run to resistance and then sell off. At least not on the closing basis.

Speaker A

Um, so yeah, if you like it, I mean, that's the most obvious support that we're bouncing from. And like I said, 59 I don't think is necessarily a sell.

Speaker A

Like if you're like, "Hey, I'm waiting for a short entry." I could be wrong on this, but usually in my experience, when they do this leg up here, this one, uh, it should stop short of resistance, not run into it.

Speaker A

Do you have an invalidation for if um, yeah, I talked about it, didn't I?

Speaker A

Didn't I say like you can um Am I tripping? I kind of feel like I boxed this out and was like you don't want to close below that. Maybe I'm hallucinating because the box disappeared. But I kind of like like I

Speaker A

feel like I did that. Don said hype before it pumped. I told myself I'd get educated on it before buying it and it took off before I was ready. Now I'm stuck not wanting to buy here because I saw it cheap. Yeah.

Speaker A

Story of everyone's life. Uh that's how it goes. It's kind of been one where we've been like both Cred and I have been quite positive on hype. Um just because it it is something that does something in crypto. I think that's

Speaker A

worth something. Um as in like that should give it a lot of goodwill and that's kind of what I've been giving it since launch. Um, it's also not the worst chart. It's not right now. It's not the best. Um, it's

Speaker A

exactly where like where you expect it to top before lower. Um, but it is coming from support same as as Bitcoin has. But yeah, if Bitcoin breaks down here, you're going to see some carnage on this one, too.

Speaker A

And then the next support is quite a bit lower down. Do you think we will have another bull cycle on crypto or will AI take all the money instead? I think there's going to be another bull cycle on on crypto. It's

Speaker A

kind of like um I don't know if you've guys been following this, but there's a lot of stuff that is starting to move onchain or starting to like just tra stuff that is starting to use the the technology in some form or

Speaker A

another. um stuff that we could have only dreamt about 10 years ago, but it's completely going under the radar because there's bigger bigger fish, bigger bigger news.

Speaker A

He also said XPL and Monet, so don't worry too much. I mean, Monet is going well in XPL I never bought. So, I said I like it, but I was like, I'm not ready to buy it. And then it just

Speaker A

went down infinite and I've just never felt ready to buy. It's one of the ones where like I could see that run. Um, but I would need to see some strength. It's gone down too much. And Monet's been

Speaker A

good. Monet's been like one of the best old coins I think in the last what, like six, seven, eight, nine, 10 months.

Speaker A

Don, when are you going to buy SpaceX? Since you love Elon so much, I'm not going to buy SpaceX. I think that's quite foolish.

Speaker A

um obviously going to have some price price movements up and down and the reason why uh it has all of those. It's just because people either love Elon or hate him, which helps the stock. Um, because you have a bunch of people that

Speaker A

hate you and they short. Um, and then you have like a bunch of fervent supporters, which is just kind of like it's it's kind of like the meme coin guys that just like bull post this thing. And so you have like the support

Speaker A

that you need when you need it, but you also have like all that ammunition to to kind of torch all of these shorts. um because the companies are obviously overvalued. Um so it's kind of like good luck shorting that but I wouldn't want

Speaker A

to buy it either. Um but yeah, Solana, here we are. We had that whole breakdown retested resistance on the monthly. Now in the middle of nowhere, like actually in the middle of nowhere. Um, there not really too interesting here. Like I

Speaker A

showed you guys Eve and where it's sitting, right? And that's interesting with Solana. It's just sitting in the middle of nowhere. Now, that doesn't mean it cannot go up. It's just like how do you trade it? Like what's your

Speaker A

invalidation here? Like I was like on E. Yeah, you have that you have that nice weekly level that should hold and like this is all neat and tidy. And I mean it's quite choppy but it is like in a structure on all time frames

Speaker A

against Bitcoin against USD doesn't matter. You have some form of setup here. And then with Solana it's like there's nothing here.

Speaker A

There's nothing here. And then the [ __ ] do you do here? You buy here and then have your stop loss at the lows. Me like that's just kind of and then you get stopped out here and 40

Speaker A

42 is the bottom. and you get stopped out just before it. Me and then sold BTC like like what do you mean that just looks garbage. Uh it doesn't mean it doesn't like it cannot go up. It just means this

Speaker A

like I struggle to find a trade. Do you think old season will never happen again? Are we on our last musical chair right now which is Bitcoin? I mean that's a good question and I mean old season the way you want it will probably

Speaker A

not happen again. Um there is too many coins like you will not have all of the coins go up.

Speaker A

Um what you might have is some sectors go up together. You might have like like these those kind of things. Um but the old season of old where just like you you can be just throwing dots is probably not going to happen again.

Speaker A

Good times though. Good times. Um, but you will you might have like a meme season again which I would hate but just that seems to be what the crypto sector has been reduced to. So could see that.

Speaker A

I could see like like an E season where everything adjusting to ETH. Like if ETH goes up everything adjusting to ETH goes up with it. could see like a like an infrastructure season again where a bunch of the infrastructure goes up. Um

Speaker A

that's the one that I would like to see the most. Uh just because it leads to good things in crypto happening. Um people are like, "Oh, the VCs blah blah blah." But at least there's some stuff being built rather than just

Speaker A

[ __ ] memes where people just give their money to Koss. Um because like the argument is not like hey the the VCs are like are great but to me like there's the KS are 10 times worse than than the VCs ever were. And this is

Speaker A

like coming from someone that is not in the VC family but rather if anything in the K family. I never really took advantage of it. Um because like I I would like to be able to look at myself in the mirror rather than be

Speaker A

and and not be disgusted. Like that's just I I don't understand how like how you'd sell your soul for that. Um but fair enough. If people want to do it, they want to do it. But I in my opinion,

Speaker A

the cars are worse than the VCs. Like significantly so. So you're playing the the worst game on that front.

Speaker A

You can tell the truth, Dawn. Solana had its time, but it's cooked. Next run, there will be a new Salana. I don't know if it's going to be I could see it do well the next time all coins do well as well, but the one after

Speaker A

it most definitely. Yeah, long term, I don't think there's much um sticking power. It's obviously going to be around, but I think it's going to underperform. I genuinely believe that to be the case.

Speaker A

Um, and then you have XRP trading at a dollar. That one was such a good trade.

Speaker A

Quite happy with how everything went in that trade. I could have played it a little bit better, but like at least I didn't sell um like a quarter of the way up. I managed to get most of the upside which is nice.

Speaker A

Um XRP is also an interesting one. Just generally like whenever you have retail come in that's the one that they want to be buying.

Speaker A

Uh do we have Yeah, add the Bitcoin pair because that's just how we are. Um but yeah, that's quite a quite a brutal move down. Um, and I'm I'm not really too interested in in buying right now.

Speaker A

It's a dollar though. But yeah, I struggle to find good support. Maybe around 0 0.75, but I don't know. I don't really see a good reason why why I would buy it. the the reason why I bought it in the first

Speaker A

place like beyond just that this was like creeping upwards and pushing in a way where I was like okay this is ready to explode was because of crime season right if you guys remember um like that was my whole thesis like Donald Trump is

Speaker A

in power he like he's going to work with the the the people that give him the most money and I could see XP do that um they are shady enough Um, so I was like, you have that plus a

Speaker A

chance pushing up plus just generally I think it's going to be extraction season number one and XRP is really good at that. And then it just exploded, right?

Speaker A

And um that's the same reason why I don't think it's necessarily the best now because I think crime season is coming to an end. I think um and people might completely lose their minds over this, but I don't think the Republicans

Speaker A

are going to um do so well in the coming years. It's pretty in my opinion, it's pretty clear that the sentiment has shifted um from from kind of like, yeah, we have to have Trump so the economy survives uh to holy

Speaker A

[ __ ] what the [ __ ] going on? So, I kind of like I don't necessarily think the crime season is going to continue because the moment um Trump gets out, you will have someone that will try to

Speaker A

prosecute all of this. Um so, I think we're like in the in the late stages of of crime season. Um and um which means this is like a less obvious play to me. Like there's obviously other reasons to buy XRP. like if you're a big

Speaker A

XRP believer, whatever. Um, but to me, like I don't have the same setup, right?

Speaker A

Like look at that nice juicy uptrend into into resistance with like a nice narrative setup versus whatever the [ __ ] is that? Like the the strength is obviously gone. The narrative is gone now, too. Um, can it

Speaker A

go up? Yes. But will it be the coin that I pick? Probably not. Um so Don, would you prefer ETH over XRP and Solana? Uh, yes. Not even close.

Speaker A

Now, am I just saying that because I like ETH better than all of those?

Speaker A

Maybe. Let's see. I mean, we've had some ETH relative strength against Salana. So, that's Eve against Salana. Um, that's where it used to be. So you've had that kind of like like I think there's at least room for

Speaker A

up here. So 2x against Salana, I think that's fine. And I think generally that's probably going to reverse and is going to make new highs over the long run. So yes, longterm I think ETH is like an infinitely better bet than

Speaker A

Solana is. Um and that might be just coming from me liking ETH better than Salana.

Speaker A

So take it with a grain of salt, but like if I had to like in 10 years, is is is Eve going to be better relatively versus Sana?

Speaker A

I I would take that bet every time. Republicans will get smacked in the midterms and then in two years when Dems get come back, it will back in they will go hard on crypto.

Speaker A

Uh, I think they might have learned their lesson. I think they might not go hard on crypto. Honestly, I kind of feel like they would prosecute like people that did what Trump did. Yes. But I don't necessarily think there would be much negative

Speaker A

crypto regulation. I think and this like this might sound like completely delusional but I think you might get more negative regulation towards AI rather than crypto. I think AI is overtaking like people would just be like whatever jail the ones that did

Speaker A

like outrageous scams and then focus on AI. I I kind of like feel like that would be the the the route it goes. I don't necessarily think it'd be like, "Oh, yeah, kill crypto now." I I think they have learned their lesson. There's

Speaker A

a good I I think the there's a good chance that Trump won because of the negative sentiment towards crypto from from Democrats. And I think they're not that dumb that they just be like, "We're going to vindictive attack

Speaker A

crypto." I think it'd be more like, okay, we're going to go after the ones that the crypto people want to be prosecuted anyway. So, we look good, but we also look good to the crypto people.

Speaker A

It's not like like Trump is like a like a vindictive person, right? Like he's like, "Whoever faults me or attacks me, I will destroy." Um, I don't necessarily think that is the case on like that that is the same kind of sentiment that you

Speaker A

get there. At what price do you think Solana will bottom this bear? I I have no idea. I mean, if [clears throat] if you look at the chart, there's like a really nice support at 40 um and before

Speaker A

then if it goes above 100 starts looking attractive um on the weekly time frame.

Speaker A

I think like there's there's a good trade on Salana to be had and that I think is above this weekly level. So, we go back above there. I think you can trade Salana to the upside and there's like a road to 100 120. Um I think it's

Speaker A

probably not necessarily going to outperform other things though. Um but I think if we break that resistance you would if you're in a short when we break that resistance. If we break the resistance I think you're going to get

Speaker A

run over. Democrats going to have way bigger problems after Trump than crypto? Yes. They're going to have to fix so much [ __ ] And I mean the problem is like the funny thing is and this is how

Speaker A

it's kind of going to go is like you have the markets kind of just like when you when you take out all the regulation, right? And this is kind of like how I look at the AI stuff. So you

Speaker A

have you have that whole AI sector just completely running away um kind of unsupervised. No one gives a [ __ ] Everyone just wants to get to a better model um and be the first one to get anywhere. There's no regulatory

Speaker A

oversight whatsoever, right? And that could get quite dangerous long term. Um but given there's no no oversight like that sector can just go completely nuts and it's even supported, right? Like it's from like by the government supported um to kind of fuel that that

Speaker A

whole whole thing. Um, and I think people are going to get so negative about AI um, coming midterms, coming like coming the next presidential election that that's going to be like a main talking point and then if you put

Speaker A

regulation into that whole sector, uh, you're going to have like a good old crash, right? Because like the moment you put on safety rails, you're going to get a crash, right? So, it's going to be like, but I think you have to um

Speaker A

and they're probably going to have to um because you cannot just let that thing run and then see what happens. Seems quite dangerous. Um so, you're going to sit there and you're going to like Trump goes out of out of office and maybe he

Speaker A

can keep the market afloat until then or even have it rally and then you're going to get some regulation that just gives the market and it's like then the Democrats will look like [ __ ] losers. Like the moment they get

Speaker A

to power, the market goes down is is what it is. But that's kind of like that's going to be really shitty for whoever gets in power next because they're going to have to deal with that beast. And I think that it should have

Speaker A

should have probably been realistically reigned in at least a little bit already. Seeing the videos of people living near data centers screams they need to be regulated. Yeah, it's just insane, man.

Speaker A

Like, have you guys seen the videos of people in their houses near data centers and like there's like noises that will drive you insane? Like, that's it's it's nuts. Like, that stuff is nuts.

Speaker A

Now, I I I get where people are coming from when they're like like these these lefties are just trying to style progress, but Jesus Christ, I would not want to live like that.

Speaker A

as AI is a must-win race for USA. Otherwise, China will be the undeniable dominant superpower. So, US government will not curb AI. I mean, they they need to work with the Chinese otherwise.

Speaker A

I don't know. It all seems like a little bit like we let let the genie out of the bottle and we'll see what happens. And maybe it goes well, maybe it doesn't.

Speaker A

It's kind of like with with nukes kind of like that's how I put it in my mind like you like everyone's racing for the nuke but then you have to regulate that thing because otherwise we're [ __ ]

Speaker A

Anyway, it's not my area of expertise but that's kind of like how I think about it. Um that's going to be like a an interesting discussion like in the coming months uh going into midterms.

Speaker A

[clears throat] Uh so yeah, Dogecoin. Someone asked about Dogecoin that's just kind of struggling um as all other coins. It broke through support which is not great. Um and now it's back at age old support.

Speaker A

Yeah. Not great. Not great. It's finally at like massive massive Bitcoin support. Like that's like the best like that's such a good level on the BTC pair.

Speaker A

But the use just kind of like uh maybe maybe can make an argument. So you have supportish It's all right. I guess that is all right. Anchor here.

Speaker A

Oops. That is fine. Dogecoin Dogecoin has been that Dogecoin's been just struggling ever since Elon got on board. like he pumped it, but ever since then it's just been down only. Um there is nice support on both USD and on

Speaker A

BTC. Maybe I'll have a look at it. We'll have to keep an eye on Doge just because it's at these important levels and then stuff like the other memes just keep on going down. Litecoin stood struggling in the middle of nowhere.

Speaker A

Fcoin, nothing to say there. XPL just down only. Like I said, that needs to show some strength for me to be interested.

Speaker A

So, yeah, I think I think that's enough for today. Um, a little bit of a yapping yapping session. Hope you enjoy it. Anyway, we'll have a proper show maybe maybe on on like in two days, 3 days depending on

Speaker A

where you are um with Cred. I never know. It's it's always a surprise. [laughter] Um otherwise, we'll see each other again on next Wednesday slashfirst depending on where you are. Um but yeah, thanks for hanging out. Always appreciate it.

Speaker A

Big shout out to Kraken for supporting the show. um send them some love. Uh always always nice to have partners where you're like this actually like this is great. I'm happy to to work with them.

Speaker A

So yeah, anyway, see you guys next time. Bye-bye.

Topics:Bitcoincryptocurrencycrypto markettechnical analysisAI bubblemarket sentimentmomentum tradingS&P 500crypto scamsprice resistance

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