Bitcoin To Hit $90K Soon | Mike Alfred

Bitcoin To Hit $90K Soon | Mike Alfred

is Bitcoin heading to
$90,000 in the very near future my guest
today who you’ve seen here and is
generally right Mike Alfred thinks we’re
heading there and heading there soon and
he’s going to make that case we’re going
to talk about that of course everything
else happening in markets and with
Bitcoin chart guys on the back half as
always on Thursdays let’s
go let’s
[Music]
what is up everybody I’m Scott mker also
known as The Wolf of all streets before
we get started please subscribe to the
channel and hit that like button the
title today is based on a tweet from
Mike Alfred which also had articles
written about it based on the same tweet
so pretty high ition here we could be
heading to 990,000 not saying tomorrow
but in the very near future so let’s
talk about it good morning Mike how are
you good morning sir how are you uh
jealous because you told me you’re gonna
have really good seats at the Laker game
tonight well if you look behind the
Nuggets bench you might see me but no
promises I said I’m gonna take a bunch
of screenshots and try to find the most
awkward uh facial expressions you have
and share them on share them on X but
yeah let’s talk about this right this is
the uh this is the tweet that uh Spark
marked a whole lot of uh attention gxy
dollar Index hit resistance at 106 as
expected and has started to turn over a
move back towards 102 103 will Turbo
turbocharge this rally the timing makes
sense because Bitcoin is primed to move
to 990,000 in the short term longer term
I expect dxy at 92 perhaps by late 2025
actually that aligns very well with kind
of my analysis on dxy over time um that
it will eventually be well under a 100
but let’s talk about the 90,000 Target
and how you sort of surmise that well
sometimes in in markets there’s a
Confluence of different factors and
candidly also there’s just experience
and intuition that comes into play I
think that Bitcoin is just programmed uh
to go to those levels and so when I when
I look for factors that could drive it
to support it occasionally I’ll find a
few um but in this case I feel like
there’s there are a whole bunch of them
um and if you look back to to last year
Scott you remember we we did the show I
think a couple times but we in August we
did one where I said Bitcoin was going
to
40K like 25 maybe 2ish I remember was
bouncing the 25 26 28 people were super
negative super bearish as they always
tend to do during these Cycles they flip
negative right before the before the rip
and 40,000 seemed kind of crazy we ended
up hitting that like in early November I
think um and then from there of course
we we we kept going um into the new year
as we as we hit new alltime high before
the having I think we’re in a similar uh
kind of setup here people have flipped a
little bit negative because of the
Slowdown uh in sort of the big Tech
complex the US econom is clearly slowing
down there there are some there’s some
justifiable fear right like when you see
Meta a stock that hedge funds love to
hide out and I call it hedge fund hotels
these are stocks that have become such
consensus Longs that like essentially
like there’s no reason for you to stay
in business if you don’t own them and so
everybody piles in not just the tiger
cubs but you know all the index funds
and even my uncle who hated tech stocks
15 years ago loves QQQ all of a sudden
right so like we’re just at the end of
the of the line in terms of people’s
fascination with with tech and so as the
air kind of comes out of Tesla and apple
and meta and even Nvidia a little bit
around the edge we saw it with super
micro over the last couple weeks as well
um there may be some like very very
short-term weakness in Bitcoin as people
tend to associate Bitcoin with the the
larger Tech complex and the q’s and
things like that I think that’s
Pennywise pound fuelish I think
bitcoin’s more driven by its own
internal Cycles it’s driven by the
liquidity cycle it’s driven by money
leaving China right it’s driven by
fractals it’s driven by Elliot waves and
and other technical factors and so I
think we’re sitting at like a really
high value area here in the low 60s we
could go down in my opinion to 50 or 55
or 58 uh but again all those levels
would be buying opportunities um because
I think in about a month to two months
out we’ll probably be in the 80 or 90k
uh range and again like to to directly
answer your question the fundamentals in
my opinion are are really good um thir
the deficits that the US government is
running are huge the national debt is
huge um you can see with the GDP numbers
slowing down today there’s going to be
more of a reason for the FED to
eventually start to lower rates as we
look out the market will price that in
months in advance uh again money’s
leaving China there are other
governments that are going to need to
print um and so the liquidity
environment I think is about to get a
lot better we’ve got the Hong Kong ETFs
coming we’ve got the support from the
the US ETFs I could go on there are like
a few dozen different things yeah I mean
there’s I think in within the Bitcoin
cycle itself as you said it’s nothing
but Tailwinds and I think that people
just perceive that the only headwinds
maybe if we see a market wide drop
outside of uh of crypto in general this
is the article on coin that obviously
was written effectively referencing your
Tweet and quotes you but there’s one
other thing that I want to show here
kind of looking at the Bitcoin chart
because I was just thinking about it as
you said it this was that time right and
anyone with a brain said listen when we
broke 25,000 which was here you can see
the kind 25,000 this candle right here
that was the end of the bar market right
some people will say the bare Market
ended at 16 or 17,000 but like it’s
hindsight to say you knew that the bull
market had started at the very bottom of
the bare Market but for me 25 was the
first higher high in an entire cycle
down from 69 then to your point we
ranged from April all the way until
October from basically 32 to 25 and this
is when we were talking it was down here
and just like now when you’re at the
bottom of a range people get
exceptionally bearish right and it’s
just range and we’ve had them every
single range all the way on the way up
and you get the sweep of the bottom of
those ranges and then price tends to
continue up it’s a story as as old as
time um and there are good reasons for
the again the tech names to to pull back
um I’m not necessarily saying like
they’re not bad businesses right there’s
nothing wrong fundamentally long term in
my opinion with like meta or Nvidia or
apple or Tesla or Netflix or any of
these companies but their expectations
for how their performance should go from
here I think are unanchored uh from
reality because the past performance has
been so good and because they’ve get
these systemic flows uh via like the
401K plans for example like basically
the the most unthinking money in the
world piles into the same set of stocks
um and so yeah the money can come out of
those and it doesn’t necessarily have to
have anything to do with Bitcoin other
than in the very short term it affects
sentiment around the edges so you’re
seeing people turn kind of macro bearish
uh on equities and macro bearish on risk
assets um and I think this might be the
cycle where we find out whether Bitcoin
is you know not really a risk asset I
think I think those of of us who studied
it know that it’s fundamentally not a
risk asset but it’s really hard to make
that argument when the short-term
correlations hold up and support the
argument that it is in fact a risk asset
but that that can that can that can come
apart right that that whole argument can
come apart if we see differentiated
performance I mean what one day where uh
you know TCH or Tech dumping and Bitcoin
puts in a $5,000 to the upside candle
and we have a different conversation
right and we’ve seen it kind of in both
directions but this is the story of the
day clearly Zuckerberg acts for patients
as met as AI push Spooks investors
overnight down as much as 19% I mean
sizable move I remember when they went
down 30 or 40% in a matter of 10 minutes
that one time I believe last year but uh
down 20% effectively because they’ve
said they’re spending billions more
dollars than anticipated or previously
reported on AI and a lot of people who
watch meta stock know that when it
really turned around from the lows was
when they cut expenses it wasn’t even
about how much more money they were
gonna make it was about how much more
money they were going to save by getting
rid of a staff you know and and so when
they say hey we’re GNA spend a hell of a
lot more
money we obviously see this big drop
overnight we’ve seen Nvidia showing
weakness to your point a lot going on
sort of in Tech and when these behemoths
move they tend to move the
market yeah I don’t know if if it’s my
connection or yours but I think I lost
you there for for a second but yeah I
was just saying when these behemoths
move they tend to move the whole market
so one bad you know earnings and you
know you see all Tech down right nid
Nvidia has shown weakness before even
this so now you’re starting to get all
the red flags for Tech yeah and this in
my view again somewhat predictable um
the Market’s been too focused on like a
handful of names for too long and
everything else in the S&P is
underperformed and so for a long time
now I’ve been expecting the equal
weighted S&P to start to outperform as
some of these other sectors catch up to
Tech and it could turn out that Tech is
just the best industry in the world for
the next 50 years that that might be
true um but again Bitcoin is not a
Technology stock it’s not a competitor
of Microsoft or app not uh directly um
and it would only take a short period of
time where you know Bitcoin dramatically
outperforms that group I think for
people to recognize that in fact they’re
not the same thing yeah I I I totally
agree and we’ve had this notion that ETF
inflows would be steady and would never
end and would put in a guaranteed price
floor for all time which we all know
that with a rational thinking inflows
can be outflows right and black rocks
Bitcoin ETF snap 71 day inflow streak a
lot of people panicking because they had
one day where they were not having
inflows but you know these are this is
one of the longest streaks in history
history of any ETF having steady inflows
so I think one day is not caused for
panic but of course it becomes a huge
story right and we saw Net Daily inflow
of 12 uh outflow excuse me of 120
million yesterday so there are some
people selling these yeah yeah and this
was always uh I I just don’t think any
of the stuff is going to matter I think
what happens is people become maniacally
focused on like the very very short term
and of course by making shorter term
predictions I I am participating in that
game a little bit uh but I don’t
recommend people trade on this other
than to if they don’t have enough
Bitcoin yet use any draw down any
weakness at all to make sure you top up
your position right like it’s not
Financial advice but it sort of is right
like you should probably own more
Bitcoin and all things being equal you’d
rather buy it at 62 or 63 than 73 um and
if we see 55 or 50 you’d rather buy it
there than at 90 um and so again like
this my prediction is shorter term in
nature like because I do think May and
June are going to be quite good like
between May and July at some point in
that area there’s going to be a massive
spike in my opinion in Bitcoin and the
miners the miners are already sort of
setting up for that you could see that
since kind of Wednesday of of last week
they’ll be down again today but they’re
all up quite a bit like Riot rallied off
of the high sevens to like 12 something
yesterday I mean it was up more than 50%
and like 4 four or five trading days I
expect that those stocks can do 200 or
300% uh in that window um and that’s
something that I’m like gearing up and
preparing for um because the leverage
the operating leverage you get in the
mining sector as Bitcoin goes up to 7080
90k is significant and people forgot
about it because the having was such a
Negative Catalyst that was scaring
people out in the future that they
didn’t want to imagine you know what
would happen to minor margins at 90k or
100K it was too far away and that having
was too guaranteed and too scary uh but
that catalyst is gone now and so what
I’ve been telling people is like the
asymmetry is flipped over where for the
last year year and a half in the mining
sector is like what could go wrong right
and if it could go wrong it probably
would go wrong um what I think’s about
to happen for the next 12 to 18 months
is a lot of things that people aren’t
expecting might go right like for
example transaction fees might be higher
uh than you expect bitcoin price might
be higher than you expect Global hash
rate might be lower than you expect and
margins might be higher than you expect
right and I think we’re going to see
significant earnings in that group their
earnings reports start in in a couple
weeks from now in early may there’s a
handful that are earlier than that I
think we’re going to see significant Gap
profitability in a bunch of those names
I think those names will start showing
up on traditional Equity investor
screens um and I do think like now
basically is going to be one of the last
kind of loading zones this cycle for
both those names and Bitcoin itself uh
sure you can still buy it at 90 100K
like if it goes to 90 or 100K I think
Bitcoin can go to 150 or 200 but um from
a risk standpoint risk management
standpoint like I would rather see
people uh take bigger positions now when
the sentiment is negative and when
people are a little bit afraid again
than wait until there’s Euphoria like
there was this guy who tweeted in your
reply Scott I know you saw it he was
like stop the madness stop with the
predictions like wait and see what
happens and I’m like well literally
that’s what we do in investment markets
we make predictions about the future
right and and then we place our bets
accordingly um and if you wait you’re
just a spectator right you’re just a
tourist you’re just watching um so
anyway is what it is like PE people can
say whatever they want but like it took
a lot of conviction last year to be
allocating heavily to bitcoin at 20 25
30 but it was the right decision I
continue to believe it’s the right
decision now in spite of all the
short-term negativity what invalidates
the idea you know like obviously if you
have a thesis and a premise and that
something is going to happen for some
people it’s a level on a chart I keep
hearing you know if we lose 60 that’s it
bare market right we’re below the range
and that that’s one Theory but is there
something fundamentally you could see or
that could happen you know even outside
of Bitcoin that could be significant
enough some sort of Black Swan that
would invalidate the idea that we might
be going to you know 90 uh you know
before 40 or something like that it
depends on your time Horizon right I
mean obviously the the prediction of 90
in in May or June is not going to happen
if there’s a global depression
collapse that causes everybody to sell
every asset they can into Fiat so that
they can pay their bills um again like
meta going down 16 18% is going to scare
some people but it’s not the end of this
economic cycle in my opinion it’s
actually a healthy correction and
rotation away from from something that’s
worked really well uh for the past 15
months um so I don’t think that’s going
to happen but if if we were like in the
fall of this year right or or end of
this year and we were still at like 30
or 40K Bitcoin I’d start to become
concerned that that perhaps I’m wrong
structurally about the value of
Bitcoin uh in this current environment
and in this economy um but I but I think
that’s just really unlikely because the
math of it says that as long as the
governments around the world don’t stop
printing don’t stop debasing don’t stop
taking on Deb and running huge deficits
that over time maybe not tomorrow or
next week or even next month but over
time then the price of Bitcoin and Fiat
terms should go up um so the the only
way you could really be wrong about that
in my opinion over multi-year
periods is if um austerity measures
become like the most popular thing
amongst governments globally um and
again we’re in an election cycle in the
US like we’re not going to see any
significant austerity I actually think
the the GDP numbers today and a little
bit of slowdown around the edges will
prompt Janet Yellen to have a
conversation
uh with Jerome Powell I do think that
eventually rates are coming down it may
not be in July as I originally thought
it might be in like September uh but
we’re we’re too early in the liquidity
cycle in my opinion for for that to be a
significant risk so yes if if uh
bitcoin’s not at 90k by the end of call
it um by the middle of June let’s say
I’ll invalidate this specific prediction
um but I won’t really just say 90k in
October right I mean because that’s my
like I for me as you said it’s a
timeline issue because even if you
ignore all of this and we just happen to
fall right back into the four-year cycle
we know that you get a having in four to
six months of boring and then uh up in
the fall I I’m not saying that will or
won’t happen but that just becomes the
next base case if it doesn’t happen
sooner I mean the reality is nobody
knows uh but but occasionally like for
example last November I sat with a
friend at a steakhouse here and I said
in the next like couple weeks feels like
the most high probability period
uh you know for Bitcoin that I’ve ever
seen right and and it went like through
the weekend it went from like 36 37 38
39 it was like low 40s in a week and it
was just there was just a Confluence of
different Technical and fundamental
factors I think we’re sitting at a very
similar area we might see like a few
days of weakness as like follow through
from this meta blow up and and some of
the other stuff that’s going on with us
tech stocks uh but I think as soon as
next week like there’ll be a significant
get move at some point and and I think
it’s pretty simple like if we’re at
75 uh in the next week or two then it’s
sort of like becomes inevitable it’s
amazing how quickly these things shift
at 63 it looks like we’re going to 60 or
55 right but if you get to 73 next week
or the week after all of a sudden
everyone’s going to flip positive and
it’s so reflexive right everybody flips
positive and it’s like oh it’s
inevitable we’re going to 90 the hard
part is to make that call on a day like
today when it definitely has a more of a
negative uh kind of Paul cast Over the
market right you can kind of feel the
negativity Brewing I mean that that’s
yeah that’s why we get ranges right
euphoric at the top and complete panic
at the bottom when really nothing’s
happening and that’s what we’ve seen in
every one of these I mean this is that
period you were talking about went from
30 to 44 in just a matter of you know
seven or eight weeks but then you had
two months of consolidation with the
same sort of sentiment that we had now
where it was oh no if we lose 40 if we
lose 40 we’re going back to 25 it was
the same I’m not saying it will or won’t
but it was the exact same conversation
there were really smart people in that
December consolidation where was
bouncing between 40 and 43 who couldn’t
believe that the ETF wasn’t priced in
and I made the case repeatedly even to
like other board members of companies
I’m on like really sharp people and they
just couldn’t imagine how Bitcoin could
be that underpriced that it eventually
would be a 60 or 70k uh price I said it
could do that in a couple months um and
so again every time this happens uh you
know usually happens because a big chunk
of the market doesn’t believe it’s
possible so I think one of the most
bullish factors right now is that even
after I can rattle off a couple dozen
reasons why it could go to 90k the vast
majority of people won’t believe you and
I I think that’s really healthy and I
think as long as that continues we’re
still in a bull market so if everybody
agreed with me right now I would start
to become concerned that we’re later in
the cycle I think eventually when people
see this consolidation and breakout
pattern a few more times you’ll start to
see more people just assume that it’s
going to happen but at that price if we
wait and see as the reply guy did said
on your Tweet if we wait and see It’ll
be 150 or 180 and that’s when he’ll all
of a sudden not need to wait and see
anymore he’ll just want to Pile in yeah
I mean people always you know it’s the
old memes that’s you know Bitcoin at
19,000 nobody in line and then Bitcoin
at 74,000 the huge crowd piling into the
door I mean it’s just how how people I
think operate I mean this is my favorite
candle ever which is that ETF approval
that you’re talking about right this
from 41 all the way to 49 back and then
down sweep the lows and there goes the
ETF right so there’s so much emotion in
each one of those candles what’s cool
about a chart like that is it it it
totally offis scates away like all of
that emotion you could just see very
clearly the reality of what price was in
that moment I remember what each one of
those candles felt like to be in the
market and reading tweets and talking to
other people and you know it’s turns out
that like most people just don’t have
enough conviction um they they lose
Faith really really easily and and based
on things that maybe have nothing to do
with the fundamental thesis and that’s
why I think it’s really important to
have a deeper fundamental view on this
sector like if you really go deep into
Bitcoin and you develop a view on it you
don’t get shaken out so easily by stuff
that’s basically Shenanigans like you
remember Israel fired some Rockets uh at
at uh Iran and like the Market tanked
but like you look back a week later and
the and the price is back to where it
was it was actually higher than before
all that stuff uh happened and actually
the more because it happened on a
Saturday and that’s because it it was
Iran firing missiles it happened on
Saturday and the few people who needed
something to sell or felt panicked they
sell the one thing that they can sell on
a Saturday well it happened twice Scott
it happened when Iran fired and then it
happened when Israel fired back and both
of them were like uh you know formality
type of things where it was like a
warning it wasn’t they had no intention
of starting a global war but the market
at least for an hour or two acted like
it was real until it kind of sniffed
that out and realized it wasn’t but when
you see an asset bounce like that every
time there’s some sort of geopolitical
event like you know that it’s gearing up
it’s like building energy it’s coiling
for its next move higher that once like
the path is cleared it will do that and
and usually has to wait until enough
people kind of get liquidated or get
pushed out and we’ve seen the funding
levels negative
here for a prolonged period people don’t
want to take people don’t want to take
long positions 200 something million
dollars was was just liquidated on this
most recent draw down from 66 to 63 like
that’s insane I don’t know who’s
gambling that much money on like
short-term moves like they would make so
much more money if they just bought and
held spot Bitcoin right like you made 4X
to Here by just holding it from you know
January 1st of last year like well what
more do you need uh but I get it there’s
always going to be a gambling Instinct
and it kind of drives the market it’s
just not something that I’m that
interested in yeah listen if you’ve been
using you know 10x plus leverage for any
time in this range you’ve gotten
liquidated both ways right and there’s
no reason for it at all if you’re
sitting in spots very comfortable and we
always have these stories but Bitcoin
options worth over 6.3 billion set to
expire tomorrow on derit we do tend to
see this sort of volatility or Price
pushing towards a max pain scenario when
we have these options expires and right
now we have a 68 put to call ratio I
mean people are short like really short
right
now yeah and if they if they own a lot
of puts then that can create pressure uh
for the dealers right to to hedge also
so yeah I mean look I I don’t think any
of this is going to matter I I think
it’s possible soon as next week Bitcoin
is just like starting to Rally uh and
when it starts to move up it’s again
it’ll feel pre-programmed it’ll feel
like it’s just on a line and it doesn’t
really matter what the news flow is and
it doesn’t really matter what the NASDAQ
is doing like as long as the NASDAQ
isn’t down 40% in the next month or 20%
in the next month or 30% then I think
bitcoin’s going higher and potentially
substantially higher uh so that’s my
call we’ll see like if we if you want to
revisit this in kind of mid mid June I
think we’ll know by then whether or not
this was the call I think May will be
particularly good but it may take until
June or July to get up into the 90 or
100K level but I think that’s where
we’re headed
I can tell you anecdotally from Twitter
and certainly from the chat that I’m
actively watching while we’re talking
that people are just overly bearish for
the actual situation which to me is
always kind of just interesting to watch
the sentiment I mean how long are we
going to watch the market slowly drop
and continue to use such bullish video
titles the market is still just in a
sideways range on any given day at 66
it’s 63 it’s 60 it’s 69 the market is
not slowly dropping it’s consolidating
side ways and people capitulate because
we don’t make a new high every single
day today’s price action does not change
Mike’s conviction of what might happened
in two months yep and it does it
definitely doesn’t change it over five
years right and again like my my time
Horizon is five or 10 years on bitcoin
it always has been um like a big most of
the Bitcoin I own today was acquired in
in the end of 2018 right and going into
2019 right so the vast majority of the
Bitcoin I hold was acquired five or six
years years ago right so I held all the
way through going all the way up to 70
and all the way back down to to 16 right
so like I’m not selling because we are
going from 66 to 63 because I think
we’re ultimately getting to a million
dollars in within 10 years um and that
interests me a lot more like candidly
$5,000 Bitcoin moves don’t change
anything in my life because if you’re
not liquidating any of your coins and
you’re not spending them then it doesn’t
really matter like the price on the
screen is just the price on the screen
you could choose to act on it uh but I
would argue that most people shouldn’t
like Bitcoin is this really really
unique collateral asset um is super
pristine it’s got beautiful monetary
policy it can’t be disrupted like why
would you trade that away for Fiat right
now like it just seems crazy to me but I
just have to point out that like this is
the sentiment is that we’re dropping
like that we’re dumping zoom out guys
we’re at 177,000 in November of 22 this
has been up only with some sideways
consolidation in the middle but you’re
going to get bearish because we’re
sideways for a little while just think
about that like there will be a top and
you’ll be correct but we’re we’re up
multiples you know 4X on a huge asset
from the bottom and we’re talking about
slow bleed you shouldn’t be bullish I
mean it’s I’m trying to help you guys
not uh yeah this guy says Scott is
triggered because he’s losing so much
you’re literally watching a YouTube
video and complaining about the content
that you’re choosing to watch I mean
think about that for a second because
you can’t handle the fact that someone
thinks price is going to go up then then
then short well Bitcoin isy is up
42.8% uh year to date and the S&P as
going in today was only up
6.97% right um so so bitcoin’s beating
the S&P by 6X and the S&P is going to
drop again today I mean so the the
Bitcoin drop is already priced into that
year-to date number right because we
already know bitcoin’s going to be down
today we already know the minors are
going to be down today again doesn’t
really matter though because uh what
really matters is like what does the
Bitcoin price do over the next one two
three four five six quarters during what
should be kind of the peak of the of the
next Bull cycle for Bitcoin and and
historically those numbers always
surprise people to the upside like like
the way I think about it really simply
is I think there’s probably 10 or 15K of
downside Max and that’s probably like
I’m probably being too bearish in saying
that because realistically maybe 55k is
the bottom so you’ve got like 8K of
downside and you’ve got something like
200 50k of upside from here so something
like 30 times the upside to the downside
um generally when you see those types of
setups it’s like it’s sports betting
like you don’t necessarily have to know
the winner of each game but if you take
bets where you have a slightly positive
expectation a 100 times you might only
get 51% right or 53 3% right but if you
take those positive expected value
setups you tend to make money over time
it’s about systematically compounding
your capital and to me this is that high
value the super high value area uh for
long-term holders of Bitcoin like if
you’re if you want to add or you need a
new position like you you basically want
to start taking it as aggressively as
you can now because again even if you go
to 55 if you’re at 90 or 100 in three
months or two months then what’s the
difference yeah I mean a uh pool where a
big a kind of a high money high stakes
pool where we bet on every single NFL
game of the entire season on a spread
and consistently the person who wins
that pool hits about 53 54% against a
spread right exactly right so I mean
exactly the same with trading I just it
makes me laugh at the same people who
will say you have to buy the dip always
buy the dip then when the dip comes say
buying buying Bitcoin buying Bitcoin is
like being the house
right because it’s pre-programmed to be
better than than the Fiat currencies
that are being printed so the smartest
thing you can do with is just own it you
don’t you don’t have to be so cute you
don’t have to pick every top every
bottom you don’t even have to do timing
like yeah we’re we’re I’m making a
prediction on timing because I pretty
confident that we’re we’re gonna make a
move in the next 30 to 60 days but in
the long run it won’t matter right it
doesn’t matter when it goes to 90 it
just matters that it does go to 90 um
and as long as it goes to 90 there’s a
pretty good chance it’s going to 100 if
it goes to 100 there’s a pretty good
chance it’s going to 150 and so on and
so forth and so like you should just be
the house with Bitcoin you don’t have to
you don’t have to catch every top or
bottom you don’t have to make every
right trade I think everybody who’s
tried to do that ends up with less
Bitcoin later on yeah absolutely I know
you have to go but this just made me
laugh as I was looking at at it I don’t
know if you saw this but the buy Bitcoin
sign from Yellen got auctioned off and
just went for over over a million
dollars this was the thing but I just
want to show you guys who the bit Wales
are uh this is the guy who bought it
with this this guy’s appearance with
that PIN you is the dude who uh spent a
million dollars to buy this sign there’s
just so much wealth in Bitcoin that
nobody knows about with people who have
been holding this and just don’t give a
and aren’t on a Forbes list and
never come out in public this is the guy
I mean if you saw that guy on the street
you might throw him 50 cents or or a
dollar and he’s buying uh buy Bitcoin
signs for a million bucks I just love it
Bitcoin is still a non-consensus trade
with the masses and that’s a beautiful
thing like as long as that’s the case
it’s still going to be a good bet it’s
the moment that everybody agrees like
everybody agrees that Nvidia and meta
are great companies like the moment that
everybody agrees on that it will no
longer uh have the same upside
opportunity as it did before so enjoy
these times enjoy the times where people
are bearish and they don’t think it’s
going to work I mean these are good
times yeah this is the time to buy all
right man Mike I appreciate it thank you
for coming and laying that out uh and
listen we’ll just be back in two months
and if it’s at 50 we’ll adjust and if
it’s at 90 we’ll say I told you so it’s
easy sounds good all right man guys
please follow Mike Alfred absolutely
incredible Alpha on X and Beyond and
just one of my favorite follows and
always so steady so appreciate that man
thank you all right
thanks all right guys now before we uh
head on to Dan CH guy who I’ve you know
we haven’t been able to do it for a
while because I’ve been traveling
obviously G to tell you guys about Lumar
in once again and now I’m realizing I
need to like bring this up because if
you want to know like literally why I
care about this uh this platform and why
uh I have accepted them as a sponsor I
would just say you need to absolutely
listen I guess I got to run this but uh
you just got to watch this podcast I I
had a podcast with Ryan uh their CEO who
obviously from Titan Mining and they’re
they’re partners with uh block Matthew
Rose in those guys but here’s why you
need to buy Bitcoin before countryes
start fighting for it a deep
conversation that he and I had great
numbers people constantly from my
regular life telling me holy crap I
listened to that it was amazing you just
got to listen to it and it will tell you
exactly why something like Lumin is so
important decentralizing truly
decentralizing everything right because
when you dig in and you see how
centralized even Bitcoin mining is and
certain aspects of Bitcoin Point are
it’s important that we support people
who are working hard to decentralize
things like hash rate to decentralize
things like AI to allow you control
yourself there’s no reflink here there’s
no affiliate there’s no nothing it’s
just a platform that I think is amazing
and worth checking out what they’re
building and listening to Ryan uh who
I’ve become friends with and really like
so I just ask you guys check out lin.
they’re incredible uh and definitely
worth your time to to give a look now
Dan are we nuts
90k see yeah I mean it’s it’s just fine
right now as you mentioned you know the
the last Friday was a big tell for me
bouncing right off 59 when the NASDAQ
and semiconductors were dumping uh
that’s your everything’s just fine at
this point in time indicator and yes
things can change but again even like
the monthly time frame eventually we’re
going to see monthly consolidation and
there’s tons of space for a monthly
higher low so we just have to remember
where we came from let’s pull up the
monthly real quick again just straight
up for for however many months and we
did that last time and granted that’s
eventually what led to a top but uh that
monthly consolidation led to a
significant amount of upside as well
that’s another 100% plus after setting a
monthly high or low so it all depends on
your time Horizon if you’re on the
hourly chart right now yeah it’s bearish
but uh you just gotta zoom out a little
bit as you mentioned and you know the
most important thing for me is is can we
hold a daily higher low into next week
and that’s what today and tomorrow are
going to be about uh for both Bitcoin
and the NASDAQ but uh you know it’s
about 50 60% retracement at this point
and we need a new support you know 59
has been doing a good job but we want
something a little higher than 59 so we
can start progressing forward if these
Bulls are going to regain that control
in the short
term so uh it doesn’t upset you that uh
every single candle is not green so
every red one doesn’t mean that the top
has to be in and it’s all over and that
uh my my titles are too hyperbolic and
I’m smoking bull
rocks I haven’t heard that one no I just
made it up I made that up right that’s
good smoking bull rocks um yeah I mean
weekly em2 has been my guide for a very
long time and we’ve been holding that
for six months at this point and we’re
still testing it we’re not out of the
woods but uh again it’s it’s not like
you mentioned the Doom and Gloom for
where we stand it’s like man don’t you
guys remember don’t you remember when we
30% plus like yeah and I actually made a
tweet recently where the The Who Song
Eminence Front you know people forget is
a line that they keep repeating and
every time you get a little bit of red
after a lot of green people forget
people forget what it’s like and that’s
where these liquidations come from
people get overly aggressive and forget
how easy it is to pull back 20% in the
crypto space so again it’s you know into
next week can we set a daily high or low
and try and shape up a daily uptrend or
do we head back down at test 59,000
again
and even if 59,000 breaks that just
means zoom out to the monthly and for me
that would mean okay now we can
consolidate for a number more months but
again even that wouldn’t be the end of
the world from a longer term bull
perspective it’s happened every I’m not
saying the having cycle will repeat but
that has happened every single having
cycle four to six months of super boring
and then literally parabolic upside if
you guys can’t wait four to six months
uh without panicking and soiling
yourself then you shouldn’t be
here agreed yeah so what else do you got
I mean obviously I think we all agree
Bitcoin is chopping sideways right we’re
sort of consolidating in this 74 to 60
or 59 is as you said range want to see a
higher low there we just got to watch
and wait and see right now what happens
with Bitcoin so what else are you
watching uh at the moment while we’re
sort of waiting honestly I had not
looked at binance in a long time it’s
looking really good its weekly chart is
even stronger than Bitcoin right now way
stronger I was at that this morning I
mean B&B’s up 12% this week yeah and and
you look at you know how many altcoins
are have a a b have a BTC pairing that
is at nine Monon highs and you can’t see
many that are there and this is you know
but BNB BTC is at its highest level
since June of last year and uh yeah it’s
just standing out to me and another
thing you know anytime I love Blue Sky
breakouts as you know and and anytime
something is near alltime highs to me
that just means it warrants extra
attention and this sideways range we are
chopping around just under alltime highs
and uh yeah I’m just honestly I was just
I looked at this hadn’t looked at it in
weeks and was like why am I not hearing
more about binance and how strong it is
technically speaking and so I just found
that interesting I could tell you a sad
story so I I very rarely listen to other
people when it comes to my analysis but
if you guys recall at the bottom of BNB
it looked like things were going to be
terrible for binance and there was
really no path forward uh before there
was kind of the resolution and my friend
ran from Crypt banter he kept telling me
man you just got to sell the B&B you
have he’s like he publicly had sold his
CZ unfollowed him he was like man you
know there’s just no way there like
there’s no path forward for this token I
think almost everyone agreed that and I
sold mine sub
300 so that’s the way it goes yeah just
just those sentiment cycles and yeah
looking really good now we’ll see I mean
it’s a kind of setup where you know even
if we pull back from here we’re just
going to keep tightening up for a while
and uh again it’s that Weekly ema2 I
just love it as a guide where I love
making things simple in trading because
trading can be very complex you got all
the indicators all the different things
we’re looking at but when I can just say
if this red line is holding there’s
nothing to worry about it just makes
things so simple and and then I can say
all right well if we lose the red line
ema2 then I take a step back and I
reassess the situation because things
have changed but if it’s not not
breaking it then nothing changes and I
don’t need to reassess because it’s full
bull
control yeah I I totally agree totally
agree I I mean it’s not listen it’s a
surprise in hindsight because things
look so bad for binance but once it was
cleaned up it’s not a surprise at all
because it’s still a massive exchange
that’s Now sort of oper operating in a
regulatorily positive environment with
the spotlight on them so I you can like
it again I would you know it was a back
then on what would happen to binance you
know and so uh was wrong but I’m glad I
was wrong because I you know a world
with a uh binance that’s operating
properly is a better world for crypto I
think you know um so fundamentally so it
seems you got at least one or two more
things up there yeah I’m keeping an eye
out on the miners uh and if I weren’t on
this call with you right now I’d
probably be buying this gap down on Riot
this morning but uh I just the relative
strength was was really nice here over
the last few days and it’s pretty much a
bu the news event you know these miners
got absolutely trashed into the having
and then the having happens and we see
this rocket ship off the lows and uh it
was it’s you know we reach a point where
nobody’s left to sell nobody’s left to
short and we hit the the having you know
bearish for for revenue or whatever
event and it’s just all Bulls squeezing
some shorts and and I love when that
kind of action happens that surprises
the market but then you learn about what
does priced in mean and things like that
and uh yeah I’m looking for daily higher
lows to be the most likely scenario on
these miners I started paying attention
to CSK more because it’s had some solid
relative strength so I’m going to be
keeping an eye out for potential swing
entries looking for daily higher lows
and just being really patient and and
the most uh notable thing for me is you
look at Riot divided by m and this past
week on Monday was the biggest shift
between these two names that you know M
has been outperforming Riot for a very
long time and Monday that shifted very
drastically and so that caught my
attention in terms of well now maybe
Riot’s going to go back to being uh the
bull to pay attention to it’s a bit too
soon to say but I’m just fascinated
watching these miners trade around and
as a Trader you know there’s plenty of
volatility in both directions which uh
is all I ask for and and they’re
certainly giving it over the last couple
of months I mean I know Mike’s opinion
aligned with that uh specifically about
you know miners hitting that sort of of
low at that moment and I’ve even seen
reports Bernstein I know Alliance
Bernstein they said miners were a good
buy and it was either a JP Morgan or
Morgan Stanley Morgan and Morgan the
attorneys I don’t know some kind of
Morgan uh that was saying the same thing
that you know this is kind of a moment
uh we’ll see I guess we’ll separate the
wheat from the chaff to whatever degree
and see which miners are strong and
which are not but those that are
fundamentally strong this should be
their moment yeah could be potential you
know consolidation of the the sector to
to allow for some some leaders to
clearly uh be standing when the dust
settles one thing I want to point out
technically speaking uh just a little
trade lesson is you know I used to early
on in my trading career would see
support break and that’s bearish but
oftentimes now I’m I’m realizing more
and more you can see a key level break
and if there’s no follow through you can
look in the opposite direction and clsk
just did that where you know you’ve got
the clear support that everybody’s
watching you break it there’s no follow
through and then you vshape and I’m
watching you know things like Baba I
haven’t been paying attention to these
Chinese names for a very long time but
it looks like a little bit of yob
accumulation where you’ve got this base
of support it breaks with zero follow
through into the vshape and so
oftentimes I look for a break with no
acceptance to to be a signal to look in
the other direction and so uh clsk and
and Baba let’s see if the Bulls can
confirm daily uptrends from here and try
and make our way back to highs over the
last handful of months yeah those are
those deviations are favorites to a lot
of traders that I follow uh actually on
on X and elsewhere sort of those like
depending on the time frame like if you
put that on a weekly maybe not that one
but it looks like a wick below and ends
up being sort of a sweep of the lows
before price heads up so if you zoom out
on a monthly I guarantee that shows that
it’s a wick below support or something
you know so um really good Alpha there
and something that I’ve started to watch
a lot more too because the minute you
break that support we know that trigger
shorts and and it liquidates Longs right
and so that’s guaranteed liquidity if
somebody’s trying to fill a huge
position they might even be the one
pushing it to that level that’s why we
get those sort of sweeps of the lows the
whale games but uh those games are much
easier to play in Bitcoin and crypto
than uh in markets with with higher
volume so it’s something you see quite
quite frequently
absolutely all right man I think that’s
it I’m Gonna Let You Go trade Riot so
guys follow chart guys go maybe he’ll
he’ll update you later this afternoon on
his channels on what he’s doing here man
always a pleasure glad uh we’re back
guys go follow him and check out his
channel Dan thank you so much everyone
I’ll be back uh this afternoon with Mark
at Mavericks 3 PM with McGlone and
Gareth and then tomorrow morning at 9:
with nlw thanks man see you next time
trading bye
[Music]
that’s do

Mike Alfred predicts Bitcoin will achieve $90,000 in the short term. We will uncover what this prediction is based on. In the second part of the show, Dan from The Chart Guys will share his market analysis and some trades.

Mike Alfred: https://twitter.com/mikealfred
The Chart Guys: https://www.youtube.com/@ChartGuys

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#Bitcoin #Crypto #trading
Timestamps;
0:00 Intro
1:15 Bitcoin to $90K
7:40 Meta’s stocks plunge
10:30 ETF inflows
13:30 Bitcoin to $150K
16:00 Risk of austerity measures
23:10 Bitcoin options expire
25:30 Bitcoin to $1 million
30:20 The picture of Bitcoin whale
32:00 Lumerin
33:30 Bitcoin chart
36:50 Binance looks good
39:50 Riot
40:30 CleanSpark
44:00 Wrap up

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.