Will Bitcoin Break Below $60K? With Kris Bullock & Bijan Maleki

Real Vision contributor Kris Bullock and Bijan Maleki are back with their weekly look at the most important charts across crypto, macro and AI. Tune in live every Wednesday at 1PM ET. Today’s sponsor is Plus500 US. Take your trading to the next level with cross-market contracts, from precious metals to key indices, and more. Whether you’re a seasoned trader in the Futures arena or brand new, Plus500’s user-friendly trading platform offers you the advanced tools, market insights, and quick execution you’ve been looking for. Get started with Plus500 for as little as $100 at https://us.plus500.com. Trading in futures involves the risk of loss. Monarch is the personal finance app that tracks everything – accounts, investments, savings, and spending. Use code REALVISION at Monarch.com to get your first year half off at just $50. Learn more about your ad choices. Visit podcastchoices.com/adchoices

• 0:06Speaker 00

  Happy Wednesday, everyone, and welcome to Trading the Markets, but it's not with AI, although we will probably talk some AI, but this show is mostly focused on technical analysis, looking at crypto assets, and basically any assets that you and our audience wants to know about. So for those of you that are tuning in on Yahoo and on platform, if you want to ask a question about any specific asset, anything that you're holding in your portfolio, you need to be a connect member and above. So come on over to realvision.com and join us and connect so you

• 0:48Speaker 00

  can ask questions and take part in the conversations. And Chris will directly do some TA on whatever you ask him, for the most part, unless it's like Bitmine today. If he doesn't know, he's gonna tell you that as well. That's why we love Chris. So another thing, we've got quite a show for you guys today, right? Crypto is tanking. Bitcoin is teetering with 66,000, looking like it can go even lower. The man who said he would never sell Bitcoin has in fact sold some Bitcoin. So we're gonna be talking about all of that. And of course, you know, when the crypto markets are down, you know, our portfolios are going down, it's easy to feel the doom and the fear sentiment in the markets.

• 1:31Speaker 00

  But that is, there's trades and opportunities and gains to be found literally everywhere, whether that's in AI, whether that's in even within crypto, there are select assets that Chris and I have been talking about for a while that have been doing exceptionally well, considering the overall crypto backdrop. But with that in mind, we actually have been releasing a few playbooks for you guys. So Chris's playbook just dropped today on the platform. So go and check that out. Joe Bland's dropped yesterday as well. So if you want to see like how Joe Bland finds these 100% stocks.

• 2:10Speaker 00

  You know, space stock gains, how Chris knew that, you know, Chris found Venice in the early days, or you know, how he found SPX when it was like 2 cents. These are the playbooks that you want to read so that you can see what these guys are looking for. So maybe you can outgame them. But enough of me, Chris, how are you doing? Happy Wednesday.

• 2:32Speaker 01

  Yeah, doing well, excited for this kind of new format. We've been doing this show round about two years now and it's cool that we're now doing it to a much bigger audience, so I'm excited for that. But yeah, no, everything you said, well said. I share those sentiments exactly. And I've got a lot to talk about today. I've got a lot of charts to dig into to kind of show what I'm seeing. As is common, there are a lot of mixed signals. There's some bullish, there's some bearish, depending on which timeframes you look at. There's, you know, a few reasons to be optimistic here and there, but yeah, let's, I guess without further ado, I'm just gonna, I'm just gonna kind of dig in and.

• 3:13Speaker 00

  Dive right in, the audience is waiting, so dive right into it.

• 3:16Speaker 01

  I want to talk about, of course, what happened yesterday, first of all. Let's, let's start out by looking at that and sort of see what the, what the damages, what the, what the takeaways are from that. So the first thing I noticed yesterday, obviously big, big red candle, down 6.5%. It ended up being the third largest down day we've had, well, in recent, in recent past. Since the, we had the big February 6 crash that kind of formed the, the potential bottom, potential bottom. And then, of course, we had the October 10 meltdown that we're all sadly familiar with. But outside of that, this is the, this is the third largest down day we've had outside of those two. So, there's that.

• 4:00Speaker 01

  Couple of takeaways, though. Looking at the RSI, this is the lowest RSI we've had in quite some time. And if we want to look back at previous times RSI's got this low, it generally formed a low. It generally was the low. And so, you know, the, the last time we had it this low was also the February 6 low. That was the bottom for a while that kind of sparked this big, major counter trend rally that we had. Prior to that, the previous RSI dipped down into the 20s was, again, the low we had coming off the back of that October 10th low. That also formed the low, the local low, and was the seed for that counter-trend rally there.

• 4:44Speaker 01

  Going back here, there's another interesting thing I want to point out that is one thing that I'll be looking for. And that's this other previous time that we had the RSI dip down into this 1920 range. If we'll notice here on this one, this didn't actually call the low. Let me turn this highlighter on so I can show what I'm talking about. We had the RSI here as the low, which was this low here. But we can see price actually continued to dip down for some weeks, several weeks in fact, before forming a double bottom ultimate low here. But if we notice here, the RSI formed a higher low here in this case, which was what's called a bearish divergence.

• 5:29Speaker 01

  We have price forming a lower low, RSI momentum forming a higher low. So this is constructive. And we can see off the back of this bearish divergence situation, it ran for quite a while, for the whole rest of the year, basically. This formed the bottom of the tariff news situation and the big flush out from that. But we got this nice structural pattern of a bullish divergence on the RSI. So I'm wondering, are we going to get that here? How's this going to play out? Is this going to be the low and it's just going to get another counter-trend rally? Or are we going to see possibly a lower low from a price standpoint, but a higher low from a RSI momentum standpoint? And will that form the basis for a larger bottoming pattern

• 6:12Speaker 01

  that we're all hoping that this ends up being for Bitcoin? That, yeah, maybe it takes a little while longer to play out, but it forms a more solid base. And then potentially a higher RSI low will be the big signal we need to fuel it into a bigger rally. That remains to be seen. We won't know in the moment. We'll only know in hindsight. But that's one thing I'm going to be looking out for. I want to look at Bitcoin through this other lens here. Similar chart, but this is just a bigger picture of the RSI. I want to note how, over the last couple of months, I've been saying I'm skeptical of this counter trend rally. I don't know that I see it ripping.

• 6:55Speaker 01

  And I called out a major bearish RSI divergence in this scenario here, where we had price continuing to run up in this upward channel. Meanwhile, RSI rolled over and was going down. So this gave me pause in terms of this counter trend rally really having the strength to break through and go up into newer higher highs. And so, wasn't surprised to see this. Didn't really want to see it go this far down to the bottom of the range this quickly. But honestly, we're just not seeing demand right now. It seems like AI stocks have sucked the wind out of all of crypto. Not all of crypto, but most of crypto, Bitcoin in particular. And it's all going into AI. But I want to talk about this down here, this indicator down here.

• 7:37Speaker 01

  This is this order flow index indicator that I made a while back. And note the big red histogram candles here. So what this is showing here is that really today is the one I'm looking at. This shows kind of net buyers versus net sellers. Not like overall buy number versus sell number. Like you can have less buyers, but have more bigger buy orders, which will make the price go up and make the price green. This is more just looking at aggregate number of buy orders versus sell orders. And so what we're seeing here is today, an aggregate number of continued sell orders. So sellers are outpacing buyers right now in terms of number of orders coming in. So sentiment to me is still down.

• 8:22Speaker 01

  And the moving average for this buyers versus sellers is pretty much at the lows right now. And so sentiment hasn't changed with Bitcoin as far as I can tell. Yes, it's not as bad as yesterday. Yes, it's maybe not as bad as the day before, but it's still net sellers dominating the picture right now. So with Bitcoin in particular. So this is telling me retail spot buying is kind of nowhere to be found at the moment.

• 8:49Speaker 01

  Clearly, sentiment is low with Bitcoin. However, one thing that's pointing, that's kind of jumping out at me is we are at a D-Mark setup eight count right now. So we are definitely oversold. Clearly, we're well outside the bottom side of the Bollinger bands here with the D mark 8. So these are signs of exhaustion. We are seeing signs of exhaustion from a seller standpoint. So this could be waning here in the next day or so. Hopefully, there's a possibility that it could, you know, run all the way to a 13 on either the combo or the sequential, but we're not there yet. We're not even close to that, honestly. So seeing some signs of exhaustion in terms, or rather, signs of being oversold, certainly,

• 9:29Speaker 01

  with the RSI this low, with the Bollinger bands this far extended outside of it, with, you know, sentiment in the gutter, basically. So typically, when we see these D mark 9s flash, I want to kind of highlight this for a second. Let me get rid of some of these other indicators so that it's easier to see. Historically, in the, in the recent past, this has been a decent signal. So here was, here was a D mark 9. Oops. Wrong button. Here was a D mark 9 and a 13. If I could hit the right button here. Here too was a D mark 9. So this, you know, this proved to be a low, you know, exhaustion, counter trend rally. Same thing here.

• 10:14Speaker 01

  D mark 9, low exhaustion, counter trend rally. We have a couple more up here. Yeah, they weren't as big as these. They were more before Bitcoin peaked, but you'll note here and here, both D mark 9s that resulted in, in runs. Now, the problem is, yeah, they all resulted in rallies, but also they all, you know, peaked and then went on and legged down and formed a new lower low. So it's like, yeah, cool. That's great. Rally, fine, but like, that doesn't mean anything in the end if, if we're going to ultimately leg down and form lower lows each time. So these, these are really more shorter term signals, but the point being, it's been relatively consistent in recent past of showing a local bottom. And so I think that we're near that.

• 10:59Speaker 01

  I think we're seeing signs of a local bottom on the daily timeframe. And it's right at, like, if we, if we zoom out to the weekly timeframe and put a line right where... The weekly candle bodies close, we're right there. Like, let me kind of go back to the daily now. You can see how we're right here at support level, basically. We're right at the bottom of the range. Yeah, we had a few false breaks out. Yeah, we had a few whicks below, but we are right at the bottom of the range. And I've talked about how, you know, we very well could go back down to the bottom of the range. Now, the trick is going to be, do we hold this? Do we hold this bottom of the range? Or do we, you know, invalidate the structure completely? And gap down into the lower, into these lower structures?

• 11:42Speaker 01

  And so if we did do that, what that would look like is there's a couple other levels right around 60,000. And that ultimate low, I think, is, you know, around the low 50s, 52 range. I don't know if I think we're going to go down there yet, but certainly we're at a level where we're going to test it and see. So finally, real quick, before we kind of get into some other stuff, I want to look at things on the weekly and looking at this sort of risk framework. This is, this is bad, obviously. I talked about when this weekly mega trend flipped green, how I wasn't fully convinced that this meant the bottom was in. Some bear markets that we've had, we had a green weekly mega trend flip that ultimately didn't prove to be the bottom.

• 12:27Speaker 01

  And like here, back here in 2022, we had a weekly mega trend flip that ended up not being the bottom and we went down significantly. There was a whole nother leg to the bear market after that. And we're kind of right in that similar type of structure. Now, previous bear markets, we haven't had this and it just, you know, stayed red the whole time. So I don't know, we're on the verge of losing this right now. One more good close, weekly close in addition to this week, and this is going to flip it red again. And if we look at the trading alpha indicator here, it's kind of already foreshadowing that. It's sort of red across the board, red dots, red candles, red track line, big thrust, you know, indicator right here. This is, this is painting a bit of an ominous picture for Bitcoin as it stands.

• 13:12Speaker 01

  However...

• 13:15Speaker 01

  I want to point out here real quick. A couple of things that I'm noticing here. One, the 200-week simple moving average, which has proved to be ultimate low for Bitcoin historically in the past. And I said how I kind of want to see us come down and touch that. We almost wick down to it here back in February, but didn't. Now we're getting back into the neighborhood again. And right now it's sitting at right about 62,000. And so a touchdown here to 62,000 might not be the end of the world. That could be a good, hey, we formed a low. We touched the 200-week moving average, like we do historically, like it's been the low in the past. So a nice touchdown to here might not be a bad thing. And then also talking about bearish divergences with RSIs.

• 14:01Speaker 01

  If we look here, we had this February flush-out, big weekly RSI low. We're kind of now back in the same lower range, but the RSI isn't as low. So this could potentially be on the weekly timeframe, that bullish momentum divergence that we're looking for. And we can see the moving average for the RSI is actually flipped up still. And so maybe this is it. This is kind of what we want to see. Similar to what we had back here at the bottoms in 2022. We had a big ultimate flush that proved the RSI low. And then we had actually a subsequent lower low in price, but a higher low in RSI on a weekly timeframe in the bottoming pattern.

• 14:44Speaker 01

  So we might be seeing the start of that, which would sort of lend more weight to the idea that this is the larger bottoming pattern that we're looking for. Again, it is lined right up with this 200-week moving average. And if this proves to be a higher low and we can bounce from here, I'm going to feel pretty good about that. I'm going to feel like this really does look like it could potentially be the bottoming pattern again. So.

• 15:13Speaker 01

  Again, mixed signals. The daily looks kinda crappy. The weekly has some signs of optimism, signs of potentially bottoming pattern forming here. Right now, I think demand is at a real low, at least on the short term, but there's signs to be optimistic. So, so yeah.

• 15:32Speaker 00

  Yeah, definitely gotta take the optimism when you can get it in red days like this. Now, I'm glad you mentioned 2022 because like that's exactly what we saw. Like we saw, especially towards the second half of 2022, we saw crypto really starting to decline. Right? And then kind of in, and then in November of 2022, we had that Black Swan FTX event. Crypto absolutely tanked. We saw Solana go under $10. And then it tanked even a little bit more after that, but then it started, you know, kind of waffling sideways until we eventually got the major run up. So I wanted to ask you, just like, because you've been in this for a while. You've seen multiple cycles play out now. Does sentiment feel like it did around 2022?

• 16:14Speaker 00

  Or is like, is this kind of like the lowest in sentiment that you've, you've felt it like since you've been in this game?

• 16:24Speaker 01

  Yes, it does feel like it. So a couple of things I want to point out here from 2022. We had multiple sort of soul sucking events play out, you know? And we haven't really had the same kind of thing. I mean, yeah, we had the October 10th thing, but like we had, you know, first we had the

• 16:44Speaker 01

  the Terra Luna collapse, which devastated a lot of people, nuked a lot of people was a major, had major ripple effects, major sort of lasting effects that, that, that played out. So we had the Terra Luna collapse. And then from there, we had the Three Arrows Capital Celsius BlockFi collapse. That was sort of a trickle down effect from the Terra Luna collapse, which really sort of brought us into the, the depths of the lows. And then we were kind of starting to recover from that. And really around this timeframe here, it was...

• 17:19Speaker 01

  Hold on, I just nuked my, nuked my chart. Whatever I did, I nuked my chart, but that's okay. Let me go back to, I'll just go to this one here.

• 17:29Speaker 01

  That's so funny. I totally don't know what I did.

• 17:31Speaker 00

  Literally just on it, too.

• 17:33Speaker 01

  I know. Okay, well, here. We'll go with this chart. We'll go with this chart for now. So we had the Terra Luna collapse, and then we were almost starting to round back up right here. Liquidity, like, we saw the economy and the macro start to roll back up right in this timeframe here, and things were starting to look good, but here is actually where FTX melted down, right here in November. And this sort of was the final flush that caught everything out. So outside of that, we haven't had those same kinds of catalysts this time around like we have in previous cycles. You know, yeah, we had the October 10 event, and there was some fallout from that, to be sure.

• 18:12Speaker 01

  But it wasn't, it wasn't like this, it wasn't multiple businesses or major exchanges like melting down and collapsing, or major blockchains collapsing and going to zero overnight and stuff like that. We haven't had that, you know, in the same way. It's been much more measured. We have a much more sort of, a different audience now. We have ETFs, we have institutions buying primary, they're sort of the primary buyer right now. And so it's a different dynamic, for sure. It's a different market, and...

• 18:46Speaker 00

  And that's why I'm wondering, like, if, yeah, history not repeating itself, right? Because we had those exchanges collapse, but I'm like, I'm wondering, though, if history is at least rhyming. And this could just be me trying to like, you know, glean whatever hopium I can out of this. But like, you know, maybe rhyming in the sense like, yeah, maybe 10-10, not like-for-like with, you know, Luna. But, you know, still a very big moment in the market that caused the dip. Then we had the war breaking out a few months later, right? We had the longest government shutdown in history as well. So I'm like, I'm wondering if like, these things, maybe not like-for-like, but if it's like rhyming and kind of setting up something similar for us going forward. But I guess that's more of a wait-and-see type of thing than anything.

• 19:30Speaker 01

  It is. One of the things that does sort of keep me up at night to some degree is the just the cyclical timing. I know, you know, there's the whole back and forth debate. Are we still in the four-year cycle? Is the four-year cycle broken? Blah, blah, blah. I mean, at this point, you have to argue, we're adhering to the four-year cycle, whether we like it or not, whether you believe it or not, it kind of doesn't matter. We're in it until proven otherwise. And so, you know, one of the things I look at is the fact, oops, is the fact that, you know, the last three bear markets in a row have all been 12 months. Right now, we're on month eight. And so, and month 12 puts us out at October. So, and then if you look at this, like, looking at the monthly mega trend, I've talked about this

• 20:13Speaker 01

  too, how, you know, I'm not really going to feel optimistic until price is like pushing up against the bottom side of this and trying to break through it. And not only did we not get anywhere close to it, even in this large counter trend rally that we had, but we've since gone right back down to the bottom of the range. So, the monthly mega trend does not look threatened here like at all in terms of like looking like it's about to be flipped and invalidated. If anything, it looks like it's, it's gaining steam and just kind of like, what? You know, like, we're in a downtrend and, and, you know, I don't care if you like it or not. So, I do look at this. And if you kind of look at this, you could easily make

• 20:55Speaker 01

  an argument that it's going to take about four months for this to really resolve and kind of get back above this, unless there starts to be some major big catalyst that starts kicking off big green candles, you know, like, like you see here and like you see here. And sure, that's possible, but like, outside of that, I don't really see a scenario where this flips back to green in the next one to two to three months. It just doesn't really, I just don't, I mean, do you see it? I don't see it, you know?

• 21:25Speaker 00

  Well, it doesn't lie. Hey, four months. That puts us right in October. So you could be on to something there, Chris.

• 21:31Speaker 01

  Yeah. Now, that doesn't mean we can't chop sideways between now and then. Maybe, maybe this February low at 60,000 still does prove to be the low. I mean, kind of like it did back here. When, when was this? February? Okay. Back here, when we had the major flesh out, you know, in June of 2022, from the Three Arrows Capital and everything. Big Wick down. That really was gonna be the low. Like, that would have held, were it not for FTX imploding at the last minute and kind of kicking down this, this last bit. But otherwise, we basically would have, you know, plotted sideways for that whole time and bottomed out and, and rounded back up. We were actually in the process of rounding back up. So

• 22:13Speaker 01

  that's, that's a pretty good comparison right there. Again, we're a little early still. I mean, this low happened in February. This didn't happen until June. So there's that. But it's not out of the question that we do hold this low and plod sideways. And as long as everything can kind of keep it together, and we don't get any more like structural breakdowns, we don't get any more October 10th style mechanical glitches in the matrix, if you will, you know, like, I think that we can manage to plod sideways and hold the lows. We do know that there is decent, a decent bid at the 60,000 level. We know that institutions are willing to buy at these levels. They're not sold off that much. Yes, ETF inflows have been on the decline, but we're still

• 22:56Speaker 01

  holding up overall structurally from ETF flows. So, you know, I can make an argument that we go sideways until whatever, June, July, August, September, October, whenever it is. And kind of round up from there. And, and this just proves to be an extended bottoming pattern. Probably not too terribly different than, you know, we had kind of in these, this past, what was it? 20, sorry, 2014, 2015 in there. That went on for quite a while. And so maybe it's something like that.

• 23:30Speaker 00

  All right, shall we, shall we maybe move on to some particular assets that the people are asking about? I think it's, I think it's probably best to start with MicroStrategy, just considering that they are the news.

• 23:44Speaker 01

  Indeed.

• 23:45Speaker 02

  So, a quick break in your regular programming. If you're serious about your future, grab my free report called Prepare for 2030. I think you've got five years to make as much money as possible, and this guide will help you navigate what's coming. The link is in the description, download it now.

• 24:03Speaker 01

  So, I mean, as you can see, the chart looks pretty much, pretty much identical to Bitcoin, arguably. Note too, though, higher-low on the RSI, which I think is a good sign, kind of like I pointed out with Bitcoin on the weekly timeframe.

• 24:20Speaker 01

  I mean, really, this comes down to, and I can't speak too in-depthly, I mean, we, we could probably spend several minutes talking about this, and I'm not going to get too in-depth with it, but there's issues, people have fundamental issues with some of the ways that Michael Saylor is running strategy, and some of these derivatives plays that he's doing, and these yield-bearing products that he's putting out, and having to, he's basically now having to sell some of the Bitcoin, not because he's like upside-down in the overall trade, but having to sell some Bitcoin to pay the yield on some of these other products that he's introduced. And so, people are starting to take issue with what he, like, is this, is all this really necessary? Is all this necessary to kind of fuel this, this experiment that he's got going on here?

• 25:02Speaker 01

  And so, that's part of why we had such a big sell-off with MicroStrategy, not so much, "Oh, we had to sell Bitcoin." It's, it's like, it's more like, "What are you doing here? What's going on, and why are you, why are you doing all this stuff, and is it really necessary?" And I think that that's part of what's reflected in this price action. And so, that's a different dynamic than what's going on with Bitcoin on its own. Bitcoin on its own doesn't have all these other products, and having to pay these yields to these people that are buying these other products, you know, that are associated with MicroStrategy, so...

• 25:34Speaker 01

  I don't know, I mean, in terms of the price action, let me see, let's look at the price action compared to Bitcoin directly. I'd be curious to see what that looks like.

• 25:44Speaker 00

  Yeah, was it Strategy Coin, S T R C? Like, that one has really gotten people up in arms.

• 25:50Speaker 01

  Exactly, exactly.

• 25:53Speaker 01

  Yeah, no, you're spot on there. So, it's funny. On a weekly timeframe, since year-to-date, Strategy has outperformed Bitcoin. I mean, it's not been without its volatility, but it is up against Bitcoin overall, which is a little interesting to me. But, um...

• 26:14Speaker 01

  Yeah, I don't know.

• 26:16Speaker 01

  It's funny. For me personally, it's not something that I'm into. I don't... I don't necessarily get the appeal of holding Strategy. But, there's a lot of people that do. Some of the people use it as a proxy because of what they have access to with wherever their jurisdiction is or if they're using it for a retirement portfolio or whatever. Although, there's plenty of other stuff now out there with ETFs and other things that I sort of even less see the appeal of MicroStrategy, but to each their own, whatever. Clearly, if you're holding it year-to-date, you're doing better than Bitcoin, so who am I to say anything?

• 26:52Speaker 01

  But, yeah.

• 26:55Speaker 01

  I don't know. I'm not sure what else to say about MicroStrategy.

• 27:00Speaker 00

  Yeah, I mean, what else can we say that hasn't already been said in the last, what, 48 hours? So... Although, you know, I guess to take some solace out of it, you know, Sailor did just post "Back to Work" today, so who knows?

• 27:14Speaker 01

  Right.

• 27:15Speaker 00

  Anyway, maybe let's talk about, you know, yeah, Strategy's been outperforming Bitcoin, but there are quite a few that have really been outperforming Bitcoin and Strategy. Hype hitting all-time highs, literally, like, every day. I think they hit 73 within the past 24 hours, or maybe even 7... I think, no, they went to maybe even 74. So, why don't we take a look at what hype's doing and where it can continue to hopefully go?

• 27:43Speaker 01

  Yeah. Let's see, I want to kick on a couple of indicators here.

• 27:49Speaker 01

  So yeah, hype looking very good. I mean, there's, there's people calling out, you know, $300 hype year and stuff like that. I kind of get it. I mean, you know, we've talked about it. There's certainly the, the outside appeal of hype in the larger traditional finance world, you know, with all the being able to trade commodities, perps after hours, 24/7, basically people are trading oil, gold, silver, all kinds of stuff. It's getting into prediction markets. And, and not only that, there's been a lot of, there's a lot of chatter going on. There's a lot of rumor. We know, I think perps were just approved by the CFTC in the US, like

• 28:31Speaker 01

  crypto perps were approved, or I think just perps in general were approved. And I know there's been a lot of rumor of Hyperliquid engaging with all of the regulatory agencies, trying to get approval to operate within the US as well in the, in the near term. And so that's, I think, in part, driving a lot of this excitement right now. And I, you know, I think where there's smoke, there's fire to a large degree. I'm not really going to be surprised at all if we see an announcement in the next, whatever, two, three, four weeks, that perps are, I thought I saw Coinbase even, or something where Coinbase is going to allow perps sooner rather than later. And so I'm like, if we can trade perps on Coinbase, then I'm sure that paves the way for Hyperliquid. I don't see how it wouldn't. And so that's

• 29:15Speaker 01

  all exciting. That's going to open up a huge market. I mean, I'm sure there's people out there that are, you know, finding loopholes to trade from the US with Hyperliquid anyway. But this is going to make it legal. This is going to make it completely compliant and on the up and up. It's going to get rid of a lot of that, you know, there's a lot of like murkiness or people concerned that this could be a potential headwind for Hyperliquid, you know, from a regulatory standpoint, if, if they kind of clamp down on them and try to, try to close them. And it seems like that's only going the opposite direction. That's only going in a favorable direction. And so I don't really, you know, barring some unforeseen announcement or circumstance, I don't really see how Hyperliquid can't

• 29:56Speaker 01

  just keep going like this. So yeah, and we know that it's, it's operating kind of way outside the, the, the sort of cloud that is crypto. I mean, it's, it's got a lot more going on. And so, yeah.

• 30:12Speaker 00

  Yeah, no, absolutely. You can't even like you can't even you can't trade perps right now in the US and look what Hyperliquid has been been doing this despite all of that. So I don't I don't see it necessarily hurting them, especially since again, I'm a broken record here, but especially since they added the Coinbase Circle, uh, stablecoin yields. I only see them getting stronger. Um, I'm not super familiar with Binance's um, tokenomics, but I'm one of the people that I've been saying I can see very much see a $300 Hyperliquid.

• 30:44Speaker 01

  Yeah.

• 30:44Speaker 00

  And that's because like Hyperliquid, their their their Dex volume is is comparable and is competing with Binance's Dex value.

• 30:52Speaker 01

  Right.

• 30:52Speaker 00

  And if Binance was buying and burning their token, uh, I can't imagine like how bullish people would be on that and and what Hyperliquid's uh, market cap is still under 20 billion. Uh, and then we just look at where Binance is is, I'm not saying it should be at that level, but if it even gets close to that level, then you'll have a $300 uh, Hyperliquid, which I think is not crazy. So.

• 31:16Speaker 01

  I I hear you. I I totally see where you're coming from. Binance does buy back and burn their token, though not to the same degree that Hyperliquid does. They're not taking 90, what is it, 98% or whatever of their fees? And uh, buying buying back and burning the token, but they do do that. And that has been one of the reasons that Binance token has been one of the better crypto investments in history, uh, largely due to that. But yeah, I I certainly Hyperliquid kind of kicked it up a notch and and they are undervalued uh, from that standpoint. I I totally agree with you there. So, yeah.

• 31:49Speaker 00

  Yeah, awesome. And uh, we've been talking about hype for, I don't even know how long we've been to be, we were definitely talking about it in the $20 range. Um, man, I think it might have even been $19 when we kind of first started talking about our interest in it and how good it looked, but uh, look where it is now and per as well. Why don't we take a look at per while we're on on hype? Because per is another one that's, I mean, if hype's doing well, per is gonna do well.

• 32:14Speaker 01

  Exactly, and it is. I mean, it set a new all-time high a couple of days ago, too. It's had some crazy days. The other day, it was up 16%. So, PER, if you don't know, PER is a digital asset treasury company that, for HyperLiquid, basically. Not to be confused with the meme coin. Right, no, yes, exactly. It is a, it is a stock, trades on the NASDAQ, which, which makes it very appealing for a lot of people who don't have access to the HyperLiquid token that are in the more sort of trad-fi world, who aren't going to go on HyperLiquid, or maybe they're not going to go on even Coinbase or Kraken now where you can get it. They, they want to have access to it through, through their broker,

• 32:55Speaker 01

  and that, this is an easy proxy way to get access, to get exposure to the HyperLiquid token through a digital asset treasury that has been also performing very well. It's kind of like a bit of a leveraged version of, of hype, although I say that leveraged, but in reality, it's tracked almost exactly. Let's, let me like throw this up, let's draw up a hype chart and see.

• 33:24Speaker 01

  It's pretty much, yeah, I mean, it's pretty much even, even Steven. So, you can hold hype, you can hold PER, and you're going to get the same benefit, basically. It's just kind of, it, it moves in conjunction. I initially thought it would be a little bit more juiced. I thought maybe my, my thesis in the beginning, when I first got into hype, or PER, rather, was that it would, it would be a leveraged play on the hype token, and it hasn't proven to be the case yet.

• 33:49Speaker 01

  Though, there are some, some options, dynamics at play. There's a potential gamma squeeze that, I'm going to count, I follow Capital Flows, has been talking about a gamma squeeze potentially coming on for the PER token, or PER stock, rather, specifically, that could result in a, a pretty good rally in the PER token. I'm not going to get too much into the details of that, but go look and, go look at Capital Flows if you want to kind of dig in on that a little bit and get some insight there. But yeah, no, outside of that, it, like I said, clearly it tracks right even with, with hype, and it's a way to get exposure to that hype token through more traditional means, if, if that's easier for you.

• 34:30Speaker 00

  Speaking of hyped tokens, Venice has also been on an absolute tear. So why don't we take a look at that?

• 34:39Speaker 01

  Yeah.

• 34:42Speaker 01

  Venice too. I thought it would kind of take a bit of a breather and it almost, it kind of did. But yeah, I mean, anytime, I talk about this a lot if you've been watching the show, anytime something is in a major rally like this, a major uptrend, I look for anytime it touches its 10 or 20 day moving average as a good sort of buying, dip buying opportunity. And we had one of those back here. Last Friday, actually, and that proved to be yet again, another great opportunity. And it's just kind of ripped up out of there and formed a new, was it another all time high?

• 35:19Speaker 01

  Almost. I mean, we have the opening candle that goes up a little bit up to $23, but we're right there. We've almost completely. It's funny to think that despite this massive rally that it's had, Venice, if you bought on day one, you're still upside down technically a little bit.

• 35:37Speaker 01

  But you're almost back in a net positive green territory after a long, you know, crazy stretch. So.

• 35:45Speaker 01

  And again, I don't, I don't see this slowing down anytime soon. It's got the narrative, it's got the usage. And it's, yeah.

• 35:53Speaker 00

  And it's only going to get better and it's AI too. So it's only going to get better as it learns and time goes on. So. I know some people that have actually used the Venice token might have like, you know, some, might be a little clunky or not as intuitive. That's only going to get better and improve. And if the price action is doing this while it's still working through its kinks, like just imagine what it'll be kind of in six months as the AI portion of it gets, gets better.

• 36:21Speaker 01

  Yeah. I want to talk about Near, that's been coming up a lot. Jamie Coots has been talking about it, it's been coming up in the Discord. And I want to look at the price because it's been rearing its head a little bit too. So let's take a look here. Big rip over the last month, big volume boom. It's a little bit overheated now, we had a DMark 9 here that resulted in a local top, came back down. Only got back down a little bit below its 10-day moving average. And then it's run up again, but we've got now a combo 13. So it's definitely overbought right now, it's definitely showing some signs of exhaustion. I would say it's not something that you'd want to pick up right here. It needs to kind of come back to earth a little bit.

• 37:04Speaker 01

  But this is important because, again, unlike a lot of crypto assets, I mean, just compare this to Bitcoin, which is, you know, challenging the lows of its range here, down here. We've got Near, it looks as good as, you know, Venice or Hyperliquid or any of those other ones we've just been looking at. And this volume profile, don't fade this, like this is saying something right here. This is saying that this has a lot of attention. And there has been a lot of, you know, AI-related narrative strength happening here with this. They've got, they kind of came out with this, it's not brand new, but there's this, Near has this thing called this intent layer.

• 37:44Speaker 01

  And it's making it easier for, kind of, basic, making it easier for AI agents to engage on the blockchain, to trade things on the blockchain. It's a way for AI agents to not have to necessarily know the inner workings of how to, you know, transact on the blockchain. It can, you can literally just have an agent go, I want to, you know, instead of having to like learn how to bridge funds or make a swap or, you know, move from one chain to another, move from one wallet to another, or settle the trade. You can just have an agent basically say something like, you know, get me 1,000 USDC on chain B and move it from my holdings on chain A at the best available price. And this intent layer will sort of infer what your, well, intent is.

• 38:27Speaker 01

  And, you know, break that down and do all the mechanics behind the scene and That transaction for you. And so again, it's paving the way it's streamlining the way for agentic transactions to take place on this blockchain. And I think that's a cool thing. And it's seeing a uptick in activity because of that. And so that also plays very well into the larger AI agent narrative that we're seeing. And so I think near is something to pay attention to. Clearly, the rest of the market does at this point, too. We'll see if it continues. But it's, you know, it's officially on my radar now as a result of what we're seeing here. So I think the people that are into it keep watching it.

• 39:08Speaker 00

  It's just funny because I'm looking at the price right now. What is it 282? Am I seeing that correctly?

• 39:13Speaker 01

  Yeah.

• 39:13Speaker 00

  Just funny because I think over a year ago, I was buying, I was buying near my average buy in was still above what it is now. So I guess there's

• 39:24Speaker 01

  I know you're totally right. And I'll be, I'll be honest, I faded near for a long, I was like, nah, you know, I don't, I don't like it. And for what it's worth, it underperformed the market for a long time. Like, it definitely was a bit of a stinker, even though maybe it shouldn't have been. But this, you know, whatever's going on now is different. And you have to acknowledge it because this is a completely different structure than what we see from a lot of other crypto assets right now. There's very, very few crypto assets that are well above their 200 day moving averages and their 20 week moving averages. There's, I mean, I can probably count them on two hands, you know, total. And so the fact that this is one of them, you know, warrants consideration just based on that alone. So yeah.

• 40:08Speaker 00

  And yeah, and like you said, it's absolutely benefiting from the AI narrative. And we've seen what that narrative does. And we've seen what it does when the, when a crypto coin catches that narrative as well, like Venice. So it's just very, definitely one to keep an eye on for sure. Jamie has been talking about it a little Jimmy Coots has been talking about a little bit more recently as well. So he's got his eye on this too. So yeah, just one to, to keep an eye on, especially with that AI narrative, see how that grows. Okay, we got another question about Pangu. Let's, let's see what that one is doing. We haven't Haven't heard much, I mean, maybe a month ago, we saw like the meme coin sector, just we saw that tweet about the meme coin sector outperforming DeFi, right?

• 40:53Speaker 00

  But like in general though, haven't heard too much talk about it. So yeah, let's see what's what it's doing.

• 40:59Speaker 01

  It uh, it yeah, it kind of rolled over. Um, it's it's definitely over oversold now. Uh, but you can see like Bitcoin, it's very reminiscent to the Bitcoin chart in that it kind of came up, got rejected off of these larger moving averages and then is sort of right back down near the bottom of its range. Maybe not quite as bad as Bitcoin structurally, but not far from it. It's it's essentially tracking with the way Bitcoin is. So not faring as well as some other stuff. Um, you, hold on, I have a chart here I can pull up. Oops. That shows the, oh yeah, here. That shows the larger, the larger meme coin sector.

• 41:39Speaker 01

  Um, it kind of has rolled over overall as a sector. It's still doing well-ish. Uh, I mean, it's not like a major, major, you know, drawdown, but it's it's more of a, it's a pretty big correction. It's definitely rolled over. The moving average has rolled over. It's holding up overall comparatively out, you know, out of the the March lows. But um, yeah, it's uh, taken its foot off the gas a bit compared to what it was doing.

• 42:05Speaker 00

  Uh, another meme coin, one that I talked about at the beginning of the show and you finding it like two cents, SPX. Um, I guess, I don't know if we want to bring up the chart, so you know, they are with the chart, but.

• 42:18Speaker 01

  Sure, sure. I'll just say it's it's tracking with everything else and I'll I'll leave it at that and we can.

• 42:25Speaker 00

  It still hasn't flipped the S and P, so uh, the the goal is still on course, right? The journey is still on.

• 42:32Speaker 01

  The journey is still, and and what I will say about SPX is, um, you know, it's it's still, the holders are still holding. Murad's still posting content. The the the community is still absolutely very active. I think they've got, they've already had two or three in-person events globally this year and they've got like five or six more scheduled out for the rest of the year, uh, in various cities all over the world. That's super cool to see. They're having in-person meetups. The community is getting together. You don't see that with meme coins, really. You don't see in-person meetups of fervent community members that really believe in this mission. And I think that that's absolutely noteworthy, you know. I mean, I can't think of any other meme coin that has something like that right now.

• 43:16Speaker 01

  And so the major players are still in it. The mission is still go. I don't see any reason to think otherwise, you know. Yeah, crypto as a whole is down, so it's naturally going to be down if you do look at the chart. But, again, like I said, we don't need to look at the chart. Just know that, like, I mean, if you go on the SPX Reddit, or even just mirad's been posting videos lately on YouTube again.

• 43:43Speaker 01

  Again, mission is still a go. That's all you need to know.

• 43:48Speaker 00

  That's all they need to know in the SPX community as well. We talked about BNB, but we didn't take a look at their chart. So why don't we look at them? Because BNB, like we said, has been like one of the best crypto coins in the history of crypto. And they are doing, Binance is doing a lot of things behind the scenes as well that, obviously, will, just anything that I think that Binance does will benefit BNB, but let's check it out.

• 44:15Speaker 01

  Yeah, they just, I did think it just announced that they're going to start trading stocks, US equities 24/7, if not already. I don't know.

• 44:23Speaker 00

  Actually, I think it's 24/5.

• 44:25Speaker 01

  Okay. Still, I mean, to have access as an international user to US equities via Binance, I think is super cool, which I'm assuming that's the case because US residents don't have access to international Binance. So I can only assume that, which is great, because outside of that, it's pretty difficult. Like, you need an account through international brokers, which is fine, they're awesome too, or something like that. But otherwise, it's pretty, it's more difficult, I should say, to have access to the US equity market. So to get it through Binance is awesome. I love that all of these big crypto exchanges are onboarding US stocks. And I use them too. In fact, I mean, I have read-

• 45:04Speaker 01

  Regular brokerage accounts also, but most of my stock holdings I've been buying through crypto exchanges just because it's it's easy. It makes it's my money is already there in a lot of cases. I don't have to transfer fiat around and go through the banking system. I'm just like, hey, if I can buy it on Coinbase or Kraken or whatever, why not, you know? And so, um, yeah, I I love that. I think that's that's an amazing development. Also, you could argue it's helping to take some of the the wind out of the sails of of crypto and altcoins by making it so easy to access these other asset classes right from within the same exchange. But I mean, I guess it just it just means the altcoin space is much bigger now. It now includes stocks.

• 45:48Speaker 01

  So, yeah.

• 45:51Speaker 00

  All right. How about, uh, let's, uh, Doge?

• 45:57Speaker 00

  Got a question about Doge. Would like to see where we can see the hype going for Doge.

• 46:03Speaker 01

  Um, let's see Doge. Yeah, it's funny. We're starting to see a pattern here. A lot of these charts look very similar. They they've been they held up this bottoming pattern. They kind of had a counter trend rally. They ran up. Most of them got rejected at their 200 day moving average cloud and then have kind of come right back down to the bottom of the range. Just like the B and B we just like sort of just like, you know, the other charts we've been looking at. So this is sort of the typical crypto market pattern we see. And and the the reason all these charts look the same is really just because there's no there's no retail buyers right now. There's very low retail spot buying activity. So a lot of these these patterns that we're seeing, these chart patterns are largely driven by

• 46:46Speaker 01

  just kind of market makers moving the price around, you know, and navigating the price up to pockets of liquidity so that they can execute their buys and sells and sort of do what they do. There's nothing wrong with that, but like that's what these this is more just kind of all of the charts look the same because it's really just market makers that are active right now and not much else. And so, um, the ones that don't look the same are the ones you want to be paying attention to because that means they've got something going on that is, uh, you know, attracting retail buying activity, spot buying activity and and aren't following the same just general trading patterns that the market makers are following. So, um, anything that doesn't look like this is something that you want to pay attention to.

• 47:31Speaker 01

  And anything that does look like this, know that Not many other people are paying attention to it either. And so maybe that's a reason why you shouldn't be.

• 47:40Speaker 00

  Doge recently fell out of the top 10 as well, overtaken by none other than Hype.

• 47:47Speaker 00

  Question, let's take a look at a chart that I have a feeling won't look like this. Is Zcash a buy right now for us?

• 47:56Speaker 01

  That's been an interesting one lately for sure. So obviously, again, here, like you said, night and day. This doesn't look anything like the other ones. I mean, it started with the same bottoming pattern down here. Has just ripped ever since, totally blew away both its, you know, moving average clouds. And it's looking, it's funny. It's forming a bit of a head and shoulders pattern here, which is a little peaky, toppy sort of looking, like if we, you know, kind of here. Here's what I'm talking about. And we've got the special shoulder forming here, and then that might mean something like that. We don't know, obviously, we'll see. But not to mention, you know, some pretty, pretty high D mark counts on the combo. So I don't know.

• 48:41Speaker 01

  That said, that said, we know Zcash has a narrative clearly because it's been running for a while since, you know, since the bottom. So I like this. I would say this could be a good buying opportunity, but you want to, you want to kind of have this situation resolve itself a little bit first. Like right now, it's kind of in no man's land a little bit structurally. Like you want to see if this is going to resolve to the downside. It's kind of in the middle right now. If it breaks above these higher highs and sets a new high. I'm sorry, yeah, breaks above the high, sets a higher high. That's a sign that we're going to see continuation that, that, you know, people are back in, whatever. Conversely, if it breaks down below these wicks down here on this low side, that means the structure is breaking. I don't love this volume profile.

• 49:26Speaker 01

  There's not a lot of enthusiasm here that I'm seeing, so that's sort of noteworthy.

• 49:33Speaker 01

  So yeah, I would say kind of let this play out a little bit and see what's going to happen. On the, just looking at the two moving averages, we can see how they were heavily diverged for a long time, and they've come back together now. And now the, the green 10-day has crossed below the, the red 20-day. Kind of showing that the daily trend is, if anything, there is no trend, or it's potentially starting to break down to the downside. So that's why we want to see a little bit of resolution and not play this guessing game. Like, you don't want to look here and go, "Well, it's a 50% chance it could go up, but it could also go down." That's not, that's not how you invest, you know? You want, you want the chart to give you a little bit more conviction, to kind of show its hand a little bit, if you will, and, and kind of know what it's going to do first.

• 50:16Speaker 01

  And right now, it's not showing its hand at all. We don't know what this is going to do. And so, um, I would say, again, let this, uh, resolve a little bit more, and, uh, we'll, we'll see how it plays out.

• 50:27Speaker 00

  Can we, what is, um, can we see what Zcash has done? Was that, is that the February or March low that it, that it was? Looks like they're basically at the same level, but I guess let's just take it from March. Can we just see from that March low to where it is today? Just see that, what, how much it's gone up?

• 50:46Speaker 01

  So 214%, um, a little over 3X, basically, so yeah.

• 50:54Speaker 01

  I mean, that's, yeah, that's, that's awesome, you know?

• 50:59Speaker 01

  So yeah, it definitely, like I said, we know, we know that the, that the narrative is there. We know that, um, there, Zcash is good at marketing also, which is, can be good and bad, you know? Like, you want to make sure there's actual substance there with the project itself, which, I mean, there is to a large degree. But know that, um, some of this is in part driven by big KOLs talking about it. People with lots of money are actively engaged in Zcash, and, uh, they carry influence. And so that plays some role in this price action, and I think that that's worth calling out. But it also is a good project.

• 51:39Speaker 00

  Yeah, no, very well said, especially because like the privacy narrative is going to be just increasing as we as we progress in the future, especially with AI and like, you know, the whole facial recognition and you know, just all of that stuff. I think privacy is going to be more and more important. So yeah, good narrative, but well said about the KOL like push behind it because the Winklevi and Balaji and so on have been very vocal about their transition.

• 52:07Speaker 01

  Very, very silver. It's another one.

• 52:09Speaker 00

  Right? Yeah, yeah, exactly.

• 52:11Speaker 01

  Yeah.

• 52:12Speaker 00

  Said, um, anything else you want to take a look at?

• 52:16Speaker 01

  Yeah, so we had a request in the Discord to look at WorldCoin and I wanted to kind of dig into that for a second. Um, let's.

• 52:28Speaker 01

  So it's been, uh, it's had a, it's had a bumpy ride to be sure.

• 52:35Speaker 01

  Let me kind of zoom out here a little bit. Let me get rid of these bollinger bands and clean this up for a second. Um, so yeah, it's had a bumpy ride. Um, it, it was one of those tokens that launched with a big market cap, with big money backing, which I'm always a little leery of out of the gate. And, um, it's, you know, kind of been down only ever since its initial run. Yes, it's had a decent bounce of late, but, um, I, there's, there's a few headwinds as I kind of dug into this project because I hadn't really been following it super close, but there's a few headwinds that I wanted to call out. I think that this is a project that somewhat falls into the category of a good tech project, but

• 53:15Speaker 01

  not necessarily going to be the best investment, um, as a lot of crypto projects are. For one, you know, like we talked about with Hyperliquid and stuff like that, it doesn't have any mechanism in place to accrue value back to the token holder. So there's no buyback and burn. There's no fee capture. There's no, nothing like that. So it's really from a token holder standpoint. It's just, it's purely a speculative asset. And so those are always a bit iffy from an investment standpoint. They, it functions more like a meme coin in that regard. And yes, it can do well. Yes, it can go on big runs. Uh, certainly we know meme coins can go on big runs. And if it gets some memetic narrative that people get behind,

• 53:56Speaker 01

  yeah, it can rip, but those tend to, in, in cases like this, in cases like projects like this, that, those don't always have staying power from like a price action standpoint. Then on top of that, there's a lot of. Regulatory headwinds with this project. There's a lot of governments that didn't like the idea that, you know, Sam Altman and co. were essentially paying people tokens to capture their, their identity. You know, from a privacy standpoint, a lot of governments started pushing back at that. They didn't like the idea of sort of, you know, not tricking people into capturing their, their identity, but, but paying people. Like, it needs to be more of a voluntary thing without this incentive behind it. And so there's a lot of governments that are pushing back

• 54:40Speaker 01

  on the, the progression of this technology being built out in their countries. And so that's going to be problematic for them, I think, until they, they can really get around that. And they've tried to do a few things to, to, to improve that with some ZK proofs, and things like that, changing the way they, they collect the data and store the data. And, and that's helped, but it's still, it's still going to be an uphill battle. And so what I'm seeing when I look at this is, good tech, good idea behind it. Like, the idea was, was, I think, legit. Like, I think they were, they were initially trying to, you know, help people create a real identity online so that you could prevent things like deep fakes and, and identify people

• 55:25Speaker 01

  and know that there was an actual human sort of behind the, the veil, so to speak. And that's good, and I think that's a noble cause. But the way they've gone about it, I think, is a little bit flawed, from what I've seen. And like I said, it's just going to continue to have headwinds. And, and ultimately, the big problem is not having a value accrual back to the token is, I think, the biggest failure for me. Like, regardless of what the tech does, the fact that there's no way for the token holders to sort of benefit from the, the, the, I guess, the, the production of this, or the build out of this technology is going to be problematic. And so I would personally...

• 56:03Speaker 01

  I don't know. It's not for me, I should say. But yeah, I wanted to kind of dig into that and talk about what I'm seeing and what I've learned from it. So I don't know. Do with that what you will.

• 56:13Speaker 00

  That was a great segue, though, Chris. Going from Zcash to WorldCoin. Just completely different things. And like also, in that sense, too, I feel like WorldCoin has terrible. We were just talking about Zcash having great marketing. I think WorldCoin has terrible marketing. Yeah. Because anything I see about it on like on socials or anything is always just kind of trashing it and just talking about the identity point of it and like kind of giving away, tricking you into giving away your identity. That is a narrative that I've seen very much at the forefront of the WorldCoin critics, if you will.

• 56:47Speaker 01

  Yeah, yeah.

• 56:49Speaker 00

  Um, okay, so let's just take one more question here. Hope Crocodile wants you to take a look at gold, silver, copper.

• 56:59Speaker 01

  Yes, yes, let's see.

• 57:02Speaker 00

  Mostly interested in thoughts on spot, but open to mining companies if there are any worth looking at.

• 57:09Speaker 01

  Okay, well, let's kind of take a look on the weekly for a second here and start. So I'm a little surprised to see this, honestly. Because I still can make a really solid case for gold being a solid investment in this current environment that we're in. But nevertheless, we've had a technical rollover on the weekly timeframe with gold. I thought that this was going to resolve back to the upside. It was holding its support for a while, right in this range here after this initial crash. And I was like, yeah, I think that this is going to come back around. And I was wrong. Not only did it, but we had the 10-week crash down below the 20-week, and now we've got price trading down below both.

• 57:49Speaker 01

  This is, I mean, this is objectively a trend reversal on gold on the weekly timeframe. And that's, that's, that, that is noteworthy. Whether you believe it from a fundamental standpoint, or whether you think it should be doing better than it is, the fact remains, it's not on a weekly timeframe. And that's after, you know, this is significant because this is the first breakdown we've had since all the way back in, really, October of 2023. So.

• 58:18Speaker 01

  Don't fade that. That's like, yeah, that's a development. Now, let's look at silver. Uh, silver, same thing. Arguably faring a little bit better, but silver's been obviously more volatile at the same time. Um, you know, it's had some breakdowns all the way kind of throughout the last year where it kind of plotted sideways before it went on this parabolic run. But even, you know, as recently as January of last year, we were having big crossovers on these, these weekly moving averages before it ripped. So, silver's holding up a little bit better. Not, not a lot better. It's still technically in a downtrend too. It's still, you know, objectively trending down, but it's eh. And then copper, also another one. Copper does look better. Copper hasn't had the same breakdown.

• 59:04Speaker 01

  Copper, I can absolutely make a strong fundamental case for copper. We know there's extreme scarcity and extreme demand for copper in this AI build out with all of the network connectivity, with all the electrical connectivity. It's a huge, important, um, you know, metal in, in all of this. It's very much an industrial metal that plays a huge role in, in the data flow, in the electrical flow, um, in all of this, in the power delivery. So, um, yes, copper will continue to be in demand. It's not necessarily going to go on a parabolic run the same way silver did, but clearly it looks better. It's still in an uptrend on the weekly timeframe. It's moving averages, its weekly moving averages are in the right order and prices above both. So it's got a strong uptrend. Um, not, not worth, or,

• 59:49Speaker 01

  I should note that rather, um, it is pretty overextended. We've got a D mark nine on the setup. We've got a D mark 13 on the, on the combo count here. Um, I want to see what the bull in your bands look like too. Yeah, it's, it's kind of at the top of the range. It's a bit overextended on the weekly timeframe. Maybe it's do a mean reversion back to its 20 week moving average somewhere. Um, but even if it did that, that would still be healthy. That would still be fine and it wouldn't invalidate the uptrend or anything like that. So, um, just, it looks a little local, toppy, but overall much, much healthier than gold and silver for sure. Uh, but of course that makes sense because there's maybe less speculation going on in gold and, or in silver, I'm sorry. There's less speculation going on in copper than there is in gold and silver.

• 1:00:32Speaker 01

  There's legitimate industrial scarcity and industrial demand with copper right now, and that's what's driving this right now. That's what's driving this chart right now. So, um, we're seeing that reflected.

• 1:00:43Speaker 00

  Yeah, copper is used in a lot of our everyday products as well. I think even silver too.

• 1:00:48Speaker 01

  I was gonna, I was literally just gonna say, there is of course industrial demand with silver too. Arguably as much in some ways, less so with gold. And that's why the silver chart looks maybe ever so slightly better than the gold chart because of that. But still, copper looks obviously much better still.

• 1:01:05Speaker 00

  Alright, well, thank you everyone for tuning in. Thank you for the question, Hope Crocodile. That's, this has been our first edition of Trading the Markets, not with AI, but with just live TA. So, thanks everyone for tuning in. Chris, we'll be back on Monday with, with the world according to AI. But until then, what are you looking for at the end of the week, into the weekend, you know, price action wise?

• 1:01:35Speaker 01

  Well, funny, so, stocks had a, we know stock, we didn't even get to it, but stocks ripped yesterday like crazy, crazy update. They've kind of come back to earth a little bit today. But they're still, they're still hanging in there. There's a lot of green, green stocks out there. They are, the indices are looking a little bit toppy, so I want to see how the indices close the week out. But also, I'd like to see Bitcoin show a little bit of signs of life here too, and, and see if it can, can rebound. You know, kind of close the week out with some strength, because right now it's very oversold. Tomorrow is going to mark the D mark nine count on the setup count, so maybe that'll be the, the local low. Or within a day or two of that, so I'll be kind of watching to see how that resolves basically.

• 1:02:20Speaker 01

  And see if we can get a little bit of a bid here on Bitcoin at these, at this support level that it's sitting at right now.

• 1:02:28Speaker 00

  Fantastic. Alright, everyone, thank you again for tuning in. Don't fuck this up. Best way not to fuck this up is to go download Chris's and Joe's playbook, which is available right now for free on the RV website. And we have Andreas and Jamie's playbook coming later this week, so stay tuned for those as well. Get yourself a full game plan and you can, you can trade like the best of them. See you guys on Monday. Let's go Knicks. Have a great week, everyone.

• 1:03:03Speaker 02

  You obviously enjoyed the episode because you're here with me at the end. But listen, don't forget to go to realvision.com/join and grab a free membership. It's an incredible community packed with alpha, great investment ideas and the research that you need to help you unfuck your future. So get started now. Go to realvision.com/join.