This Indicator Signals Huge Bitcoin Rally (Buy The Dip?)

Bitcoin has fallen after the Fed decided not to change the rate yesterday. Despite this fall, one indicator signals that Bitcoin may rally, the same pattern (Bollinger bands) was in 2010 and 2016. Will it happen now? In other new: FTX is planning to fully repay its customers, and Celsius is about to do the same and distribute $3bn to its customers. I am discussing this and more with my today’s guests: Joshua Frank from The Tie and Dan from The Chart Guys.

Joshua Frank: https://twitter.com/Joshua_Frank_
The Chart Guys: https://www.youtube.com/@ChartGuys

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Timestamps:
0:00 Intro
1:30 FTX to fully repay its customers
5:10 Celsius
7:50 Miners
12:45 Solana
15:54 Justin Sun
20:30 XRP hack
22:30 Institutional adoption
24:40 Coinbase & elections
28:45 DevvE
30:20 Bitcoin: way to the moon?
31:40 Bollinger bands
34:30 When rate cut?
36:10 Crypto hedging
38:10 Cannabis
39:25 Psychedelics
40:35 Cameco – Uranium
42:30 I am now Palaum!

The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to “Buy,” “Sell,” or “Hold” an investment.

Is it time to buy the Bitcoin dip according to Ballinger bands and the legend John Ballinger maybe this is the time based on a signal that the Ballinger bandwidth is giving for the third time each of the previous two have been massive Market bottoms we’re also going to talk about bankruptcy paloa

We’ve got FTX settlement coming Celsius settlement coming and it looks like those of us who are Voyager creditors got super hosed in hindsight I’ve got one of my favorite guests today Joshua Frank talk about all of this dig into what’s happening in the market uh usually we’re just two cranky Boomers although he’s

Much younger than me I guess I can’t really call him that okay one Boomer and one guy who’s cranky like a boomer talking about everything going on in crypto and of course Dan the CH guys on the back end to tell us what’s happening with markets and probably tell us how

Dumb we were not to buy weed stocks earlier let’s go guys guys it’s going to be a great J what is up everybody I’m Scott mker also known as The Wolf of Wall Streets before we get started please subscribe to the channel and smack that like button I’m going to go ahead and just bring on Josh and start talking about this dude it’s uh the bankruptcies are

Finally coming to a close here it seems yeah I mean we we saw um the from a couple sources this morning FTX scrapping relaunch plans I thought that was a terrible idea to begin with I don’t know who is going to trust that business again uh and expects to pay uh

Customers their full money back obviously keeping in mind that this is their full money back in US dollar terms you know and and a lot of crypto has outperformed but also some cryptos underperformed I think since the bankruptcy happened as well yeah I’m sure I mean so I had the numbers it’s about

16,000 per Bitcoin it’s here somewhere now I’m not going to quote it incorrectly but as you said it’s based on the prices in November when they declared bankruptcy those of us who went through the Voyager uh process we got back 34% of the value on that day so this is

Three times better than that which I don’t think anybody had on bingo card after seeing how much was spent in this bankruptcy but basically it seems that FTX customers benefited massively from this dragging out and ending in more of a bull also Market than at the bottom of

A be Market well also um you know we’re we’re able to benefit from the fact that you know FTX made some Investments with customer funds which they should not have done but those turned out to be very good Investments I mean the number one be one being anthropic and others

So yeah so you know at the end of the day you know if you had told people that uh you know if you told people a week after FTX follow for bankruptcy that they’d be getting all their money back you know a year or two from now I’m sure

Everyone would be thrilled to hear it but I’m sure now people are like well you know if I had had the Bitcoin it would be higher but it you know the the claims the FTX claims when when trading started right where you could sell the claims to your to your Holdings those

Were selling at about seven cents uh right after the FTX collapse so anybody was buying claims and the amount of emails I got in Mound from traditional funds buying claims were insane you 13 extra money in like 12 months yeah if you got the bottom if you

Got the bot not everyone got the bottom but if you scrape the bot yeah but even people who bought them for 30 40 cents I mean it’s still a massive deal and that was considered high at the time that it was happen so first as you said they’re

Scrapping plans to relaunch The Exchange thank God cuz the last thing I need to emotionally trigger me is to look at the words FTX uh on Arenas or all over my screens again every single day so I’m glad that this is being wrapped up just incredible that the price of salana also

Helped this so massively and the gbtc discount closing all of those things have helped massively for people to uh get paid back we know that gbtc they basically dumped a billion dollars worth the minute that this converted uh to an ETF that was a huge part of those

Grayscale outflows and salana went to $120 something dollar if you Voyager creditor you literally watched them not only like mishandle the loan that that blew them up but then if you were watching price action they liquidated everything at the deadest bottom of the market possible at the time like Bitcoin was 25

Grand within a week on both sides and they sold all the Bitcoin at like 19 or 20 I mean it was just Insanity I mean the thing to think about is if you were a creditor and then you did take all your money and put it directly in crypto

You would have likely had an outcome so some more to this by this point but um I it’s totally fair and it’s I think it’s fair to be frustrated the other one is Celsius I’m happy I’m happy I mean I’m happy for the FTX creditors it’s

Frustrating in in a vacuum anyway so I’m glad that it works out better for others but yeah here’s the Celsius one yeah and I got I got one I’m actually G to share my screen let me throw this document here this is from the actual uh document itself on what Celsius creditors are

Getting so there have been a lot of reporting that Celsius creditors are getting about $3 billion cash and they’re getting equity in a new mining company um as you guys might have remembered uh Alex binsky took customer funds and used it to buy a tremendous amount of mining

Equipment and so among other things that he did with customer funds um and so what customers are getting back is about3 billion doar in liquid assets primarily in Bitcoin eth um they are also getting a new mining company so there is going to be a new publicly

Traded mining company so it is going to list right away that um celsi Celsius creditors are going to get um and there’s a there’s a there’s also some El liquid assets here and those El liquid assets they’re going to have a wind down period to give uh to to get those El

Liquid assets liquidated and and the total outcome that they’re estimating is about a 79% Total Recovery so it’s also you know on a relative basis it is a uh you know it’s it’s it’s a decent it’s a decent recovery what’s blowing my mind and not to not to dwell on Voyager but

There’s decent recoveries from the two guys who outright committed fraud and Voyager he did not commit fraud he literally just gave a loan and the result was so much worse I mean I think it’s incredible mashinsky and Sam were literally stealing people’s money and they’re still getting it

Back yeah yeah I I’m just happy that they’re getting it back I mean at the end of the day but please if you’re getting back Bitcoin Neath don’t dump it hold it please yeah so that was the the the I guess the like slightly Silver

Lining of mine is I did take it all in Bitcoin and eth which is what I still had and so that has you know effectively gone up you know 70 80% since then so versus what I would have had no but at least I didn’t take it in cash and now

I’d be down another uh yeah the thing the thing that I’m interested in though is all of the firms that bought claims to FTX right or bought Celsius claims a lot of those firms aren’t necessarily long-term Believers in the underlying crypto and these are very large claims

And so if you bought claims at 20 cents 30 C 40 cents right you know a lot of times you’re not interested in holding that underlying crypto you were just interested in making that trade and so I think as part of that you know you will see again some another wave of selling

Pressure um as these claims are received um from folks that were just trying to uh you know basically trade the Delta between what the claims were actually worth and what they’re able to buy the claims at Yeah you mentioned Bitcoin mining obviously we have the having

Coming in right before the show you and I were talking and you said that there’s been a really interesting trade happening you know uh yeah I don’t know how this trade is but hearing a lot on the traditional side uh about firms that are going and buying the ETF and then

Shorting mining stocks in the back end of it um basically the idea that going into the having uh Bitcoin itself will under will outperform mining stocks which are you know M miners are capital intensive businesses they have a lot of the same cost and obviously their

Rewards are going to be well have it’s the having and so there there’s there’s concerns about the performance of Miners and and and the view is look miners could go up and Bitcoin could go up but the view is that Bitcoin might go up more or miners could go down and Bitcoin

Could go down but the view is that Bitcoin will go down less and so that’s a trade that I think is interesting and it’s enabled by the fact that now it’s much easier for a lot of these traditional funds that couldn’t take spot exposure to get exposure directly

In with their traditional Prime Brokers right because they’re they’re trading the ETF they’re not they’re not need to get exposure to spot Bitcoin so it’s an interesting trade and you know they’re they’re they’re longing Bitcoin so that know itself is good is there a Nuance to that like specific miners

Because I even had James butterfill on yesterday from coin shares and he said you know listen these are kind of the the ones who are positioned well these are the ones who I don’t know and these are the ones who are screwed yeah look look these guys have varying you know

Levels of cash flow a lot of them have very different debt structures right some of them uh you know you know it depends when they were buying mining equipment how much they paid for their mining equipment how much it cost to service their debt what their capacity is what their electricity costes so

There’s definitely Nuance there um but I think the view is that at least a few of the miners are really terrible businesses not all of them but a few of them are really terrible businesses and there’s Alpha just in in in the Delta between the performance of those Miners

And and Bitcoin itself yeah some of them don’t own any of their underlying infrastructure so they don’t really have any value there and don’t have any cash and they’re going to need to raise it to at least suffer those first few months before the having they’re basically

Betting that uh the price of Bitcoin goes up massively earlier in the cycle than it normally would or they have to go out of business think about that though it’s crazy if you believe that bitcoin’s gonna go up six to eight months after the having and you might

Not survive past four right yeah yeah yeah and that at that point right would you rather own the company that’s not going to survive past for the underlying Bitcoin in itself right and so look I think the having is a great narrative that people like to talk about but it

Over time it means less and less and less as block rewards decrease right two having ago was much more impactful than this having and next having will even be less impactful than this having unless you’re a minor and your primar business is mining Bitcoin and now your revenue

Is decreasing by half per per block right you know if we take out obviously all the fees that are paid in Bitcoin because miners also o do receive fees and when people go dgen and start using BRC 20s and ordinal and things like that that that that’s great for for miners

But you know all things equal you know new new new Bitcoin rewards are dropping by have and obviously over time you know we started with 50 Bitcoin down to 25 right you know now we’re talking a few Bitcoin per block right it’s just significantly less impactful narrative

However as we know in crypto reality doesn’t matter and the only thing that matters is what people believe because we have tokens trading at 30 and 40 billion market caps that have four daily active users so the only thing that matters is what people believe what the

Narrative is what people are saying and what people care about and so I think that’s a really important caveat thing to consider with crypto that is not the case with a Mining stock which is a publicly traded company which is going to be traded by you know companies

Obviously look we had we had the Reddit you know AMC GameStop phase and so that’s not to say that that can’t happen but broadly speaking miners are traded by traditional hedge funds that have access to information in financials that are going to make financially motivating decisions but I really just want to hear

The names of the companies that are trading at 20 and 30 billion dollar market cap to have like four daily active users yeah you you and I have been over these many times in the past so that was kind of our favorite activity in the bare Market was like

How’s this thing worth $10 billion do and you can go on chain and be like there’s three guys developing This and like a monkey that just traded with an elephant somewhere and and and about a 100,000 fake Twitter accounts that tweet about it the craziest thing is when you

See a when you when you go and you like find a new crypto project and you see that they have 150,000 Twitter followers but only two people you know follow them and you know that there’s absolutely no way that 99% of those are real human beings so listen I I dug in slightly

With James yesterday about salana and Jupiter and I’m the Boomer that I talked about before I don’t understand any of this but at the core James was saying that he thought that a lot lot of what was happening on salana and a lot of the tvl and the numbers being presented are

Somewhat cooked because it’s all aird drops and free money and people move on yeah do you think we’re getting real adoption on salana or do you think that it’s like a I think salana has real usage I think salana does have real users um I think there are a lot of

Developers I’ve actually I will give salana a lot of credit I’ve been very impressed by all of the developers that continue to believe in salana even as the token crashed to you know what did it go down to like10 whatever it was right like I think there are a lot

Of people that are actually very genuinely excited about salana they’re very genuinely excited about building on salana and using salana um you know does that mean salana is worth I don’t know what is the fully diluted valuation of salana like that those are different questions right I’m not I’m not making a

Comment one way or another on what salana should $54 billion is salana worth $54 billion I that’s up for question but but are there real users of salana I I would say the answer is yes but the question is what is a user right and and and a user and a Speculator can

Be one and the same thing right I mean I think people are using salana to speculate on assets right it is a chain that is fast that is cheap to use and so it is great for for defi it’s great for training it’s great for speculation and

That’s a use case right that’s a real legitimate use case of crypto I think so those people are afraid to say that speculation is a real use case but people love gambling like if you look at what did well during covid it was all the vices all the alcohol companies did

Well you know like uh the casino businesses did well the gambling businesses DraftKings all those kinds of guys in crypto right people when people have spare cash and and they can spend discretionarily they like spending it on gambling and so I I I think in that regard look having a chain that’s used

For speculation isn’t isn’t a bad thing right that’s it’s a thing yeah I agree makes perfect sense we just have to be like intellectually honest I guess about what this Market still is yeah I mean it’s it’s it’s still speculation like I do think there’s a lot of you know we’ve

Talked about this a million times right and our list your lists there’s nothing new here right stablecoin remittance is still a use case it’s still a big use case and it’s being used in latam I was speaking to one of the two biggest credit card processors in the world and

They are genuinely taking very seriously the risk to their business of peer-to-peer remittances in Latin America using stable coins so they are is it visa was it visa it is one of that or the other one there’s two of them right so or there’s Master Card i’ I’ve

Figured it out guys it’s it’s one of them American Express it could be it’s one of those it’s one of those so the um but the point being is that you know these companies are taking it seriously there are real usage there is usage of stable Quin for remittance a lot of that

Still happens on Tron which befuddles me but you know it is what it is um yeah well you got other issu Justin sun is the last man standing by the way yeah if you look at like the the last cycle villain I’m not not saying he’s done

Anything wrong I have no idea I’m just saying can we can we bring up some Justin Sun classics there’s just some Justin son do you remember Justin Sun Greta thunberg moment that’s one of my favorites when I remember the Warren Buffett lunch I don’t remember there’s a

Couple all right I gotta pull up a couple Justin Sun Classics here just uh all right this is the Justin Sun gr I’m like I’m like now on the spot to pull all this stuff up so I’m gonna go as quick as I can all right Justin Sona

Thunberg Justin Sun pledged a million dollars as a young entrepreneur I share Greta thunberg’s passion to change the world crypto will continue to contribute immensely on reducing carbon footprint by implementing decentralized settlement I would like to personally commit USD 1 million to Greta thunberg’s initiative

Cop 25 Justin Sun that is a good cop 25 that is one my my other favorite thing is and I don’t know if I’m gonna be able to find this um I mean the Warren Buffett one was the best when he paid like four and

A half million I I don’t want to quote the number wrong to go to lunch with Warren Buffett I don’t think he ever got to go to lunch with Warren Buffett and he said he was going to convince Warren Buffett to like love Tron and crypto which

Is appreciate the effort is there a picture of this Justin sun in in 2020 or 2019 threw his face on every single elevator at consensus and the do open I gotta find this for you it’s fantastic the doors the tron’s marketing at conferences is intense flipping tokens he’s like

Flipping USD and Tron it is just it is insane there was also there’s also the Justin sun was supposed to give away a free Tesla didn’t give it somebody threatened a lawsuit had to give out two free Teslas that’s another one of my favorite moments there was the but he’s

Still here man he’s still here he’s still here and I mean htx I guess now which is like really close to FDX and name like he’s trolling but I mean still here and still got billions there was wasn’t there that there was also one where the whole world was convinced he

Got murdered in San Francisco or something no I think he got murdered in China but he was like I’m in San Francisco guys like here literally Proof of Life they thought he was in a Chinese prison I think that was the and then he became His Majesty of what country did

He become his majesty of some Caribbean nation of some sort Justin I think you son Ambassador right no this is fun this is more fun than his Excellency his Excellency Justin son Grenada Granada Granada yeah Grenada grada yeah I don’t I I don’t know I don’t know Justin soon

Justin sun I don’t know but yeah still still I’m look there there there have been historically a large number of rumors about different crypto companies blowing up and I think historically a lot of those have turned out to be true right there is everyone kind of within the crypto space was concerned about

Celsius for a while felt that mashinsky was not the best character FTX no one really knew about that right no one was really concerned until that balance sheet got leaked and then you know whatever but you know there there were a lot of there were rumors about Genesis

There were rumors about a lot of these different guys there have been a lot of rumors obviously there’s been a lot of rumors about usdt which have been proven incorrect I mean I think at this point um that big four audit firms and stuff have come to defend them I think that

That that you know that that establishes a sense of legitimacy but the Justin Sun one something has to be true there I’m not a I’m not a I’m not one that just says believe the crowd but there is no way that with all the he has going on something isn’t severely underwater

Or negative it just doesn’t make any sense where is all this money coming from yeah H I don’t know it’s he has unstable coins there a true USD fud that somehow he’s that for get poniac he has poniac wobe he’s got a bunch of and everything

Is named after him too he’s got like you know like just swap just lend just lend yeah H there was one there was like a casino win was the token and it was like literally one of those one tokens where like if it went from one sat to two Sat

You doubled your money and you just had to wait in line to buy it or sell it for months until you got filled in the order book because there were just two prices good times good times hey speaking of things that uh may or may not be dead I

Don’t know xrp price dip says Ripple co-founder says personal accounts impacted $13 million exploit not dead I’m kidding guys I love you you ripplers it just seems you just can’t can’t catch a break uh Chris Larson yesterday there was unauthorized access to a few of my personal xrp accounts not Ripple we were

Quickly able to catch the problem and notify exchanges to freezy affected addresses law enforcement’s already involved this is coming from Zack atbt it appears Ripple was hacked so it wasn’t Ripple it was his personal his personal wallet’s but about $113 Million worth he’s got billions Dro in the bucket

Right I mean his token trades at $45 billion or whatever it is so you know I’m sure he’s got more than $13 million worth look I’m just happy that users weren’t affected so um you know look you know obviously it sucks for anybody to lose $13 million but I’m sure it’ be a

Lot sure you’d lose a lot more than 113 million if other users on his chain were hacked versus him because of the price impact of that you said something to me when we were talking about this earlier what if what was the what if do you remember they roll back oh

Yeah yeah yeah that would be a great one yeah what if what if he just decides Ripple just decides because they you I don’t know how decentralized xrp is to just freeze the chain and reverse the transactions or to pull a you know ethereum Fork uh esque thing that you

Know as as a lot of people remember with the Dow hack with ethereum forking and E Etc and eth um they decided to just Fork Ripple and say that you know everything pre the hack is what’s real but I mean that that that is going to uh the SEC is

Already not happy with xrp and losing that case that would introduce an unbelievable amount of scrutiny and I do not think that that possibly happens it would be it would be a a whole level of fun if it happened to watch that play out but that would be a terrible idea

I’m sure he’s thinking about it but you can’t do that yeah is there anything you’re watching right now that actually excites you I mean the ETF narrative seemed to be the thing for so long it seems like we’re kind of just floating it see again looking for a new

Narrative we’ve talked about the ethereum ETF here we don’t need to do that one but you know uh these air drops on salana kind of seeing different ecosystems have their little boom and bus Cycles right now is there any of this that’s real and kind of you think

Will be lasting into this next cycle yeah well look I mean I think the things that are interesting or real or things to consider I mean the the the first thing that I’m just looking at is institutional adoption of crypto and and what’s happening and I think the Bitcoin

ETF actually just makes it a lot easier to F for floods to get exposure to crypto um I thought you said flood but you said funds but you you coughed and you said for fud to get explo I thought and I was like w for funds to get

Exposure a lot of funds are now able to just trade the Bitcoin ETF they couldn’t trade spot Bitcoin before again that doesn’t mean that they’re going to be buying and that they’re going to be long term but that is getting roduce liquidity to the market and liquidity begets liquidity right the more liquid

The asset is the less it moves on large moves the more size that could come into the market the more interested people are in participating in the market so I think in that regard it’s a good thing you can lever up you can you can you know your your traditional Prime broker

Golman can extend you margin on your Bitcoin ETF right or JP Morgan or anybody else um because it’s just ETF um and so I’m interested in just seeing you know how many participants we see start rolling in and start trading the ETF and then maybe get you know a little bit

Um you know a little bit excited about the rest of the market right and using that as kind of just like an introduction and a taste to you know eventually want to go to spot and want to be able to trade more because you know if you’re just trading the ETF you

Know you’re not getting the same level you know you’re not able to trade it on weekends you’re not able to trade it after hours right and crypto moves a lot on Asian hours so um you know you’re going to want to you know you’re not

Going to really want to be in the market you know overnight necessarily if you’re you know depending on kind of your your time Horizon because your ability to exit unless you obviously you’re you’re you’re able to go short on uh you know a crypt native DS exchange and not

Something that trades you know particular hours of the day I don’t know if you’ve been paying attention to this but coinbase has quietly been prepping a huge War chest for this election uh saying they want to get to about a hundred million Brian called it the most consequential election super packed

Owners include Andrew and Horowitz Ripple again Etc do you think that this election is as important uh as they’re saying here I mean is this like a Do or Die situation for crypto yeah I mean I don’t think it’s a Do or Die situation for crypto but four years is a long time

Right and so you know four years of having an SEC commissioner and and broadly a um political landscape within the United States that doesn’t favor crypto that’s a really long time and we’ve sat through the beginning of that I mean I still remember when Gensler was appointed and everyone got excited

Because they’re like oh he teaches a crypto class at MIT that was years ago right and obviously that hasn’t worked out just as we planned um it it you know we thought it was going to work out necessarily but people who knew Gensler kind of had that Viewpoint um yeah I mean I

Think I think it is really impactful I think it does matter I think it matters who is the SEC commissioner I think it matters you know are we going to change rules around crypto custody to enable large traditional Banks to offer custody Services uh are we going to give

Licensing to crypto companies are we going to um you know are we going to put in place regulations that help move this this the space forward in the right way and I think I know a a huge number of people that politically you know are maybe more on the side of this

Administration but are going to be flipping their votes uh next election cycle uh because of this issue specifically um a huge number he made it clear he made it clear that this is a bipartisan effort they’re basically just going to re helicopter money on anyone

Who’s crypto you know a it should be a bipartisan effort but I think you know it starts federally down right in terms of you know cabinet appointments and and appointments of chairs of different uh commissions and government bodies um so I do think it’s really important that

There there is a huge lobbying effort I am I am skeptical on the ability to Lobby the Biden Administration on this just because of the relationship that exists with Elizabeth Warren and the fact that Biden is dead I don’t know how he’s still alive um like you like yeah

Like not not in the water like actually dead like he’s like actually physically dead like I don’t understand that guy he should be at an old in an old age home like and like I’m not saying Trump is any better in a lot of ways but you know um you

Know I think there there’s an ability to push for more Progressive policy there and I think it depends who makes his his VP candidate right I think that that’s really important I think it’s it’s really important to be lobbying with any of Trump’s potential VP picks on this

But I think also I don’t know look you could also there’s also a world in which Biden decides to dump you know camela Harris and potentially you have a VP on the Democrat side who is pro crypto and it’s worth obviously the effort there but I think look you want to have

Congress being pro crypto you want to have both the Senate and the house Pro crypto uh you want to have as many people uh you know that that are pro this Bas is possible and so lobbying is super impactful and I think the important thing to note for anybody who

Is you know a politician or anybody who’s in Congress is just look at the percentage of people under the age of 30 that hold crypto that is the next generation of people that are going to be taking power that are going to be entering politics and

You know I think we’re going to see much more Progressive policy from from 30 year olds and 40 year olds and 50 year olds in the 97 year olds we have running for uh presidency I think they’re 497 years olds but yeah we’re out of time

Josh always a pleasure to have you here uh I owe you a I also you a personal message on some business we’re trying to work on could be some amazing things coming from myself the tie we’re working on it uh you guys can follow Josh right

Down below uh and thanks once again man I’ll talk to you very very soon anybody finds the Justin Sun elevator picture please comment it on this uh this please yes we need it do it all right man thank you all right guys so listen uh two

Things before I before I get Dan up here one is as you know we have a once a weekly sponsor which is Dev e I’m so bad at the mirror thing does it look like I’m moving it along the bottom feels like I’m doing it like I’m on the uh

Escalator or that thing at the airport that makes you not have to walk as far but guys yeah I I’ve been talking to you about deie quite a bit uh if you’re wondering what it is from their own words deie is orders of magnitude faster cheaper more scalable more

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Literally they just want to get the word out and so you guys understand what they’re doing and after that the next thing we have to talk about obviously is the title I’m gonna bring on Dan Dan really quick I just want to talk about why uh apparently bitcoin’s going to go

Appar way to the moon and then you can give me your thoughts on it because it says there this indicator signals huge Bitcoin rally by the dip I’m so bad at like um actually doing my titles like we do the title and then I literally do a show on Justin Sun like it

Could right so but this is based on uh John Ballinger and the Ballinger bands uh which is a indicator that quite a lot of people use for those who don’t understand how it was created there’s a middle line which is basically the 20 period simple moving average and I I I

Believe no I’m going to look I think it’s two deviations yeah two standard deviations above and below you get the Bands right and so the bands either widen they act as support and resistance for people who’ve never used it but they also get narrower or wider based on how

Much volatility are right now they’re basically as narrow as they’ve ever been on the monthly chart that’s the that’s the that’s what we’re talking about here basically a 1% so you can see you don’t even have to look at the Ballinger band if you look at the indicator it’s

Bottomed three times here at 1% and those have been the bottoms of every single Market guys it’s monthly chart right so you’re talking about 2016 2020 2024 that doesn’t mean tomorrow we go to the Moon it could be like years right but this is a indication that a lot are

Using that saying it’s time to you know buy the dip here and start really uh looking at Bitcoin again have you ever used Ballinger bands I went through a Ballinger band phase oh yeah it was it was a backbone of my analysis probably the first six or seven years of my

Trading uh definitely useful in terms of and as you mentioned you know it tells you when volatility is coming you know I use price action and equilibriums and tightening ranges now to do that but it was a good visualization say get ready volatility is coming it you know when

You break out above them you know you know not to be surprised by a pullback and uh yeah it’s it’s a good Trend indicator with the 20 period simple moving average I use that as a core aspect of my analysis for a long time so I don’t use them at the moment crypto

Actually changed that because I just went price action when I started trading crypto but uh and as far as indicators out there it’s definitely one of the better ones in my opinion yeah I I I’ve gone through the phases as well you know I went through I think we all go through

Our B ban phase our ichimoku Cloud phase our spline demand phase yeah then then you eventually I think everyone lands at just price action and volume pretty much eventually yeah I can remember back in the day I had a buddy that I was trading

With and he told me yeah I took all my moving averages off my chart and I thought what are you an idiot and then you know a couple years later like oh yeah this makes sense yeah it’s pretty much all there just see where the

Volume’s at so what are you what are you looking at today we obviously had a bit of a dip in Bitcoin over the past few days I I I think we kind of got excited speaking of moving averages it had gotten above the 50 two days ago and

Dropped right back down below yeah uh looking at the daily time frame you know I mean it was a nice bounce off the lows and now we need the the trend change so there’s no red flags here we got to set the daily higher low and higher high if

We’re going to see follow through and at the moment this is you know pretty healthy consolidation trying to hold these these EMAs on the back test uh I go on the 4H hour time frame from here just knowing that you know we have a 4H hour downtrend after the reaction

Yesterday and we got to see these Bulls regain the 4-Hour Trend in their favor if we’re going to say that that daily high or low is shaping up but uh essentially what the Bulls need from here is that daily uptrend to confirm if this weekly is going to follow through

And again as I mentioned in my opinion the most likely scenario will be a tightening weekly range for a good bit of February unless we see increasing volume the daily volume is dropping pretty considerably at least on coinbase and you know binance some of these exchanges so uh generally speaking when

You have a significant amount of volatility in both directions if the volume continues to taper off anticipate a tightening range which is what I call the equilibriums and uh that’s going to you know potentially lull people to sleep a little bit to start February and then when that range breaks we’re GNA

Get a whole bunch of information because a tightening weekly range if we do get it if it breaks bull we’re going to test the high of the year and if it breaks bare then we’re looking at monthly consolidation and those are obviously two very different things uh looking at

A bit of a fork in the road yeah we’re choppy we’re choppy you just referred to this on bringing up bitcoin’s price dips as Federal Reserve Hold trate Steady markets were all over the place yesterday I think which is exactly what you would intend interesting because they did exactly

What everybody knew they were going to do but in my mind and what I expected and got was that pal basically said we’re gonna just kind of stay here for a while everybody’s anticipating these cuts and there’s just no reason for them to do it he sort of alluded to that

Right which I’ve been saying the whole time like why would they cut if jobs are strong and you know inflation’s coming down yeah my my very very unfundamentalist is yeah why why are they going to cut everybody’s looking to March and so what the fomc reaction and Conference was doing was determining

Probabilities of what’s the probability we get a cut in March and the probability dropped significantly and now everybody’s looking okay well maybe may maybe June uh and you know for me it’s it’s not really a significant part of my analysis it’s just a question of now you know how significantly are bulls

Going to buy this dip and they are buying the dip so far and we’ll see if that continues you know just looking at spy I still consider that we’re in a a melt up phase over the last few months and you could see that you know every

Big red day where we have closed at the low it’s just been zero follow through and so we’re watching you know is that going to be the same thing this time around and you know it’s worth watching for sentiment with the with Bitcoin and things like that um and as of right now

The Bears have a lot of work to do if they’re going to derail this S&P 500 chart which has just been extremely strong yeah what else you got uh watching these miners I like I like that segment tuning in you know I like that nobody talks about hedging and

Protecting yourself if you’re going to be really heavy Bitcoin uh maybe it’s worth you know some hedging shorting the miners granted if Bitcoin goes up the miners are likely to go going to go up as well but if there’s relative weakness there because of the the fundamental you

Know drop in revenue and things like that uh that’s definitely worth paying attention to so uh we know Riot has been a lot weaker than M so I’m going to be keeping an eye out for the possibility of a longer term bearish entry in some of those names especially if Bitcoin you

Know underperforms as far as expectations uh heading into the having and posst having but uh that was a good good segment as far as my trading mindset yeah I thought it was really really interesting and he said it to me right before that he’s just hearing that

This is being done by a lot of Institutions I mean we all know about the other ways people have uh you know uh taken these hedging or whatever trades in crypto in the past and have uh ended pretty poorly you the gbdc discounts and premiums and and all those

But uh this one is it’s very rational right like if everything goes up you’re assuming that uh you’ll still make money just less that’s the point of the Hedge right and and if things go down well at least you’re not just getting slaughtered y so yeah it’s the same

Thing you know Bitcoin we need the daily Trend change same thing for these miners Riot has to confirm the daily uptrend if we’re going to get any follow through I would like to see that happen because I would like to scout a weekly lower high bearish entry at the moment it’s a

Possible weekly bare flag but again way weaker than M you can see we didn’t break the summer High here whereas M did uh and again the way to compare the names if you just look at Riot divided by m uh it shows you who is stronger and

Who is weaker and if this chart is going down it means Riot is weaker than M and that’s an ugly chart so uh we’ll keep an eye on that as far as not not all miners are built the same clearly yeah definitely not as far as other things

You know I’m going to talk about cannabis so still looking just fine at this point uh we’re testing this the resistance level that everybody’s watching is 988 in the short term and we are knocking on the door here and just grinding the daily higher lows it is a

Little bit Rising wedgy uh so I am you know put put on my be glasses just to ensure that it doesn’t catch me by surprise but um watching you know we’re either going to lose the daily uptrend or break that 988 resistance sometime within the next two or three days so uh

It’s just building momentum and hype you see on social media you know oh decision from the DEA is imminent and a source in in Washington says this so uh it’s getting people excited and it’s getting people holding their positions and uh there’s a lot of excitement around

February so we’re going to continue to watch this space and even just our analytics as content creators we could just see building and building interest and you know live streams getting a little bit more than our crypto viewers recently uh for the Cannabis stock that’s interesting that’s interesting yeah yeah yeah definitely paying

Attention to msos and and again we’ll continue to you know I did a live stream about it yesterday we’re going to continue to cover it as long as that opportunity remains and I was kicking myself as soon as I signed off last week you know you you end saying anything

Else and I didn’t have the the cmps chart this is psychedelic name but I loved the uh breakout from this weekly longterm downtrend and it was just a little inverse head and shoulders and again same thing you know that the Psychedelic space has these catalysts where the FDA May approve MDMA for uh

You know the ability to be prescribed and that would be a catalyst for this sector they’re all just low cap names so any kind of headline that gets attention uh it’s it’s highrisk high reward sector and uh cmps is definitely one I’m keeping an eye on I’m watching heard

I’ve never even heard of that one so I’m taking note and putting it on my radar right now yeah it’s it trades you know dollar volume it’s about 7 million a day it’s not a lot but you know we just went straight up 50% and we’re going to look

For a daily higher low uh first hourly oversold conditions is definitely going to have my interest but uh definitely seeing you know it trades in hand inand with the Cannabis sector and so you know anything that’s good for the Cannabis sector good for psychedelics and vice

Versa just as far as people being more willing to put their money in these higher risk uh sectors awesome looks like you have one more up there uh one more uranium’s still going man today big day ccj yeah huge testing the all-time high we’re just riding the weekly

Uptrend urj is one of the ETFs new all-time high today I mean they’re up huge today and the reason is one of the major companies came out and said you know we produced less uranium than we thought we would they guided down what they’re going to be able to produce in

The future future and knowing that there’s a a crunch with you know there’s high demand for uranium and there’s low Supply now one of the major players is saying yeah there’s even lower Supply which increases the price of uranium which benefits the other companies so it’s still definitely just a bull sector

Urj if you just you know weekly ema2 just hold that and it is good to go so definitely you know as far as looking back over the last uh couple years it’s definitely one of the stronger sectors out there and it remains it remains in the lead

Here love it man thank you for the alpha as always if anybody had just been paying attention to weed and uranium since you’ve been talking about them here for months uh you could go uh I guess smoke some weed and buy uranium but uh but yeah no no no never uh don’t

Don’t light the uranium don’t do that I heard that that’s bad theoretically I don’t know much about uranium but I know that’s probably bad dude thank you so much uh guys follow CH guys of course uh on Twitter right down below and check out his own YouTube channel uh really

Amazing content there man thank you once again for for joining thanks Scott have a good one see you next week buddy all right guys that’s all we got for today Debbie the sponsor please just check them out you just click it and you look and you check it out there’s literally

Nothing in it for me except for you checking it out because it’s cool yeah guys that’s all I got uh for you today I don’t know if I showed you guys this I’m to cover this but I’m a I’m a card carrying member of the Republic of palao now a

Digital resident of the nation of Pala I’m P palan I’m a pan I’m not pan with you from Pala guys I’m now from Pala so all I got I will see you tomorrow with Nathaniel nlw doing the Friday five it’s going to be awesome we’re going to have amazing

Things to talk about and you guys are going to show up just show up please please if you don’t show up uh I’m going to cry see you guys Tomorrow let do