Bitcoin reached $35K before the correction yesterday on the optimism of the upcoming ETF approval. Matthew Sigel, Head of ...

Thank you so much happened this week and so much is happening right now at 1005 Eastern Standard Time in exactly one hour Jerome Powell will be giving his speech at Jackson Hole which will be live streaming on Twitter spaces so you guys don't want to miss that right after butWe also just got breaking news this morning from The Wall Street Journal and now from every other publication effectively that the treasury and IRS have proposed new tax rules for Americans and have finally really defined the word broker for companies in the United States and most these rulesYou're not going to like we're going to start digging into those today and review everything else happening this week including the fact that Pepe is falling off of a cliff because seemingly the team might be pulling a slow rug pull we got a lot to talk about todayIt's just me it's been a long time can't wait to dive into this with you guys let's go Let's go what is up everybody I'm Scott melker also known as The Wolf of Wall Street before we get started please subscribe to the channel and hit that like button as I said I'm alone today we're going to start with Nathaniel Whittemore as I talked about yesterdayBut he's a bit under the weather so we're gonna give a little time for next week to start that new show which is going to be basically the top five most important stories that happen each week but we had a long time long uh hard journey trying to get down to five todaySo we just gave up and I'm gonna tell you about a whole lot of things that are happening it used to be rant Fridays I don't know that I have anything in particular to rant about although I mean if you're gonna choose something to rant about even irrationally maybe it shouldBe the IRS IRS spares crypto Miners and validators in new broker reporting requirements effectively I can give you the greatest hits of what's Happening here it is now also of course in coindesk it's being written about broken in the Wall Street Journal but what we have here is that the U.S treasuryDepartment and IRS have released their proposed cryptocurrency regulations a lot of people were very concerned that miners would be deemed Brokers and they would basically be unable to be compliant well the good news is that's actually been left out this is all coming from the 2021 infrastructure investment and jobs act but they'reFinally defining these things so here's what we have proposed definition of digital asset Brokers includes trading platforms payment processors and certain wallet providers individual Miners and stakers exempt from broker requirements that's actually very very good news this was the biggest fear if you guys remember roughly a year or two ago whenWe were talking about how they were going to define a broker but certain wallet providers includes a lot of decentralized defy dex's wallet providers this could be wildly problematic because that means that they're going to have to report your transactions to the IRS by my understanding from the first reading ofThe article here you go crypto Brokers will need to follow rules similar to Securities Brokers filing information returns and providing payee statements in other words your exchanges will a hundred percent be sending the IRS much like an E-Trade or a Schwab so I can't get that mad at this will be required toSubmit all of your transactions and your capital gains directly to the IRS Treasury Department Etc kind of a big deal but you're all paying your taxes and Reporting those transactions anyway right we've seen even four or five years ago coinbase was forced to send certain uh reports to theIRS we know that that's happening but now this will likely become official if these proposed rules are passed but how a I can't I don't know specifically which wallets but how would a metamask do that or a trust wallet or any of these other web three self-custodialWallets how will they ever be required as a company to report to the IRS I think it's literally impossible so let's hope that that comes out the industry pushes for more sensible rules remember this is just proposed and more importantly guys if passed these rules will become effective in 2026 for the2025 tax years we have a very long time to worry about this even if it happens there will be a public comment period until October 30th 2023 and the public hearing is scheduled for November 7 2023 so I'm sure we'll see major pushback from the crypto industry against this weKnow who's behind this by the way Elizabeth Warren she was the one urging faster action due to looming deadlines if you look at the headlines on this it's all like finally closing crypto gains tax holes and disasters and and they're all criminals and finally we're going to getSome sensible regulation to stop these wealthy crypto billionaires from killing the children and not letting them eat if you read Biden's tweets that's what it looks like but the fact is most of this is probably sensible and I'm hoping that the industry can actually give them more clarity interestingly we get our veryOwn tax form a 1099 anyone knows like if you're a contractor or something like that you fill out a 1099 in the United States that's basically when you've worked you want to report income but it's not being withheld you don't have a full-time job W-2 gig workers Etc we getA 1099-da for reporting non-employment income from digital assets the aim is to curb crypto tax evasion my God I paid more taxes than anyone I hate this in closed loopholes potentially recovering up to 18 billion dollars cool I don't know what you guys think of allThat it was a lot but that is the gist of it so just to give you the very broad strokes this won't happen until tax year 2025 kicking in when you report in 2026 if it happens validators nodes broker uh miners they've been left out of the definitionOf Brokers that's huge there's going to be a big fight over what wallets need to report and how they're going to do that and we get our very own tax form we knew this was eventually coming I would say my first gig and listen I told you IWant to kind of go signal through noise if we're looking for the actual signal here we are seeing relatively sensible movement forward on something that we expected and there's no need to panic here that's my answer I know everybody wants me to scream and yell IRS but itIs the IRS they do deserve to get their taxes from American citizens and this is a potentially reasonable way for them to do it if we're still under the same sort of taxing regime I don't think there's anything to freak out about here that is the gist of what I'm getting at let'sDig in to the Bitcoin Market to the crypto Market in general then we'll start to get into more of these stories as you can see and as you already know because you're a human person who watches YouTube and reads Twitter and looks at charts and things Bitcoin notDoing that great gives up games slips below 26k ahead of feds Jerome Powell at Jackson Hole I do not think that the two are related at all you know where I stand I think we saw a flush from the 28 thousands down to the 24 25 000 becauseOf Traders doing Trader type [ __ ] because whales manipulate this Market that is how free markets work they do it in the stock market too and someone basically made a [ __ ] metric ton of cash by accumulating a massive position in Bitcoin accumulating a massive short with leverage selling it down triggeringLiquidation sending price down then they're the probably the buyer at the bottom I think that's what happened and I'm not really that concerned about 26 000 Bitcoin right now frankly if you follow me you know that I'm expecting a very long period of chop probably no real significant bull market until aYear from now in the next having that doesn't mean we can't go to 40 or back to 20 or up to 25 and 45 and down to four and maybe 27 000 million I don't know where it's going to go I just know that if you look at the four year cycleIf you look at the process with the having you know that about six months after the having we should be triggering a brand new bull market by the way interestingly I interviewed Caitlin Long the other day who we all love that will be out either this Sunday or next I'veGot Robert Breedlove and Caitlin long are the next two podcasts both both epic she pointed out that the having cycle games the bull market will be kicking in right as we hit a United States presidential election holy crap can you imagine if Bitcoin is actually booming it could have a real meaningful effectBecause people will actually care again on what's happening in that election pretty big let's take a quick look at the Bitcoin chart right here you've got the weekly chart of course I cleaned up my chart so I got rid of bit stamp I moved on to coinbase after all theseYears but here you go guys you know the line for me it was 25 000 212 on coinbase it's 25 000 214. we're calling it that now we've got 25 214 especially did I say 2000 because that was done either way if you zoom in here wellLet's take a look right you had the 69k high right here lower low lower high lower low lower high lower low that is a bear Market by definition a trend of lower highs and lower lows so to break out of that bear Market you need to make a higher high and thenConfirm a higher low we did that here we ran right into it perfect higher low higher high higher low higher high even if only slightly okay so I'm not saying this is a bull market but I will say that this is a bull Trend and that the bear Market structure brokeLook exactly where this drop ended literally at the line 25 214.57 I mean it's like to the penny when you Circle it like within literally less than a dollar right and now we have a potential reversal candle forming here a nice little doji at least a pause soI'm not that scared we are below the 200ma this was only the second time after losing it after 3ac if you zoom back you can see that we've never for more than a week lost the 200ma before so that is different this cycle when we say this time is different neverHappened and this is also the only time we'd ever gotten the bearish cross between the 50ma and the 200ma but now we have both of those potentially pointing up other words I'm not seeing anything to panic about now I made this joke the other day right that we kind ofGo sideways and then we hit October I don't think it'll be exactly like that I think we'll sweep and go up but I do think that we are in for a relatively boring time for a little while here and it's time to chill but you take a lookThat had daily RSI down to 9 teen and we've been still oversold now for basically a week which is a very long time looking at the daily any dip below this level here about 26 000 is going to give us bullish Divergence with oversold RSI on The Daily that will be a bottomFor me if we see that clearly coming in we already are very close on the 12 hour never made the low we had the bullish Divergence here in the six hour four hour already had a massive bullish Divergence right and so any low here is going to build that bullish DivergenceIn other words guys I don't think we can go much lower immediately until all of this shakes out but we saw I showed you guys look go to the Daily we had bearish Divergence at the top which I pointed out at 31 I said I think we're topping right lower highs on RSIHigher highs on price and we went down overbought now we're oversold we rarely get this oversold and we rarely stay here this long so I think we're going to get the pop back up to the upside barring any terrible news a lot of people starting to make theirBig targets we talked about Tom Lee we had on Sean Farrell from funstrat well now we've got Digga Mega Chad Dan Morehead coming in and saying that we've seen enough battered Bitcoin at 26k can't stay down much longer and he gave a grand wild big huge price Target whichNow I'm looking for because I'm not reading my screen but I think it's about 150 000. yeah April 2024 150 000 by late 2025 in the next cycle we've got mark yusco saying that we've got fun Strat Tom what are you saying that now we've got Pantera saying the exact sameThing that we've seen enough of this battering of Bitcoin maybe we continue this bear Market but like I said when we get into the next bull market a lot of people aligning for 150 000 targets I don't think that that's hyperbolic or exaggeratory at all I think that's very reasonableInterestingly nearly all short-term Bitcoin owners are underwater making rallies harder no [ __ ] Sherlock what does this mean it means a bunch of people got really excited at 30 000 and above they bought and now they're underwater and they're looking to sell when price goes back up that's how thisWorks guys when you look at like a double top on a market things like that the reason we look at charts is to understand what human beings are thinking right and so listen I mean we could probably just look at it on the daily chart here right so all thesePeople may be bought up here right and so they're all underwater now so what are those people looking to do most of them are tourists they're not looking to hold and go above they're looking to sell at either even or a small loss or a small profit here whichAs this article very clearly says and it is correct as this article says it makes the rallies harder because now you have selling pressure you have resistance that's why 50 Mas and 200 Mas and different lines become resistance that is how these charts work but moving onFrom Bitcoin I just think it's really boring guys I don't think there's that much to talk about even though we did just dive in ether whales scooped up 94 million in each by the way that's not a very big number to be honest not not a very big numberAs price plunged to 1.6 K last Thursday's plunged in price drew the attention of a number of sizable holders yeah guys we know that on dips during the bear market and boring Trends this is when people are buying and selling ethereum these same wallets were all selling at the top they've all beenAccumulating for the last year we've seen it over and over and over and over again if you're looking for the evidence this is from look on chain whales are accumulating eth from the bottom four whales accumulated 56.1 ke if in the past seven days these are the walletsThat are doing it if you're interesting and these guys are buying a lot of ethereum why are they doing it I don't know do they know something we don't know but people who have been here a long time have massive wallets have accumulated those over time and theyKnow that whether price is 1.6 or 1.4 or 1.2 if ethereum is going to 10 000 in the next cycle it doesn't matter which price you buy it at right now they are slowly accumulating now we can take a look at the ethereum chart let's take aLook first ethereum uh Bitcoin which I haven't done in a very long time I just pulled it up obviously that 1419 level remains key because that was the high of the entire 2018 uh bull market pretty crazy that we were basically up at five thousand dollars on ethereum at onePoint here but right now I would say I'm literally charting this blind I haven't looked at it in quite a while but I can tell you this jumps out yeah this is uh I mean it's a little uh bear flaggy you know or it could be aBear pennant depends this is where uh this becomes uh astrology for men you can draw it like that that becomes more likely to break down you can draw it like that more likely to break up right bottom line now that I'm looking at this on a monthly chart holy crap this is aMonthly chart let's see what that looks like on the weekly on a monthly chart we have an exact to the penny support test of ascending support on ethereum I wouldn't be fading ethereum unless you see a clear break of that to the downside and I hadn't even looked atThat as I said now I don't know if you guys are huge fans of Arthur Hayes I've had them on I think he's a brilliant dude I still can't get past all the [ __ ] he pulled at bitmex sometimes in my mind but he's brilliant he writes incredible blogs well he wroteAnother bitmex blog right here kite or board is the entitled we covered these all the time he wrote about his kite kite surfing and brought it back to crypto and all the things and blah blah but he made some really amazing points here and some amazing quotes as usualAnd here was the kicker basically Bitcoin has a finite Supply and therefore at the denominator of Fiat toilet paper grows so bitcoin's value in fiat currency terms Hayes wrote aside from Big Tech and crypto the ex-ceo believes nothing will yield a better return for investors besides parking their money atFed and earning nearly six percent yield so effectively we want to have again have Arthur coming in and making the obvious points in a very very very long and well-researched blog post as always the Bitcoin is going to go up Bitcoin is going to go up that'sLiterally the gist of the entire thing that the FED is blowing it they've already lost it they will inevitably have to go back to money printing Fiat will become toilet paper increasingly and we will see the price of Bitcoin go up but it reminds us once again thatIt's not really about Bitcoin going up it's about the fact that the dollar the denominator will continue with time over a very long time to go down I'm assuming that since you guys are all here you think that that is probably going to be the case with enough time I'm notEven going to start talking about bricks we're going to talk about that on uh Town Hall but we're having seen a number of countries join bricks with the very idea of D dollarizing I don't think it's gonna work have fun but there you go nowWe have to look at the stock market talk about what's happening because we have Jerome pal at 1005 do you guys have any predictions I would love to see in the chat what you guys think Jerome pal is going to say I've gotten really mixed reviewsWhen I've said it you've seen it on the show my prediction is higher for longer data driven still kind of a hawkish tone I think David Young yesterday thought that he was going to be a bit more dovish that was surprising to me I think he's going to say we're committed toThis fight inflation is too high we need to get back to our two percent Target I can't see any Cuts in the future and I think what we more likely get is maybe one or two more tightenings if at all but then a really long sustained period without them raising uh lowering ratesAt all that's what I think yeah so I I don't really know what's going to happen here but stocks wobbled hard yesterday let's take a few look at a few of the Darlings here we've got 10 minutes till Market open but everything's seemingly trading flat we talked about thisYesterday I don't know why I'm getting this weird chart let's see if I can that's not letting me move it let me see okay this is NVIDIA right Nvidia obviously opened I was on yesterday with Dan and I said this to me was a gratuitous short until it filled that Gap it literallyFilled the Gap back to the dollar I would have probably shorted that from 500 to 480. I don't know that I would have written it all the way to 471. but this is not a great candle uh you know at least it didn't leave that Gap upThat we were talking about and we're starting flat but you got to think that that looks very very Toppy and we got this very very sexy Gap over here on the left that's likely to fill but let's take a look Nvidia obviously is kind of driving the entire Market but you gotThe SPX obviously the S P 500 look at that rejection yesterday at the 50ma it just broke recently okay we've been above this 50ma since March okay so losing the 50ma gives the 200ma as a Target that'd be 41 42 SPX uh but it's not just that Dow Jones LostThe 50ma first bearish retest massive drop not just that QQQ the NASDAQ got slightly above yesterday absolutely dumped obviously that's largely on the back of Nvidia because it is the dominant company in there alongside the Meadows Facebook's Amazons and the apples but not looking that great maybe we get some extreme volatility todayBased on Powell's words but I continue to believe that the stock market has at least for a while topped I said that to you I did a whole stream on it a couple weeks ago I told you I sold I showed you that I sold a lot of thingsWhat I still continue to think will happen that's what I still continue to think will happen I have no idea it could rally but um that's what I think kind of what I think here okay now we got to talk unfortunately I'm sorry in advance I apologizeWell I still didn't get your comments on what I didn't look what'd you guys think Did anyone say what they think amazing that one guy can speak in the economy markets overreact right data driven literally ignores all the data that's exactly right Market will tank change is the TargetThat that would be if he said three percent said two percent that would rock worlds he's going to say exactly the same things yeah I I think that uh this is the gist of all of it yeah just remember that the fed's the one whoDid this to us in the first place okay now we're gonna dig in a little bit to political ticks okay let's first let's just talk about this first right Trump surrendered in the Georgia 2020 election subversion case okay I don't really do politics anymore asYou know if you were here a long time ago you know I was a pretty outspoken critic of trump I personally dislike him I personally dislike his family I went to college with uh Trump Jr people have probably seen my story that went wildly viral from that which I don't discussAnymore because then people come to my house and I have to hide and that was in the last election cycle but I also as I've said before I once DJ to Gig at Trump National for the Trump organization I'm not saying it was him personally but as with every vendor everI've ever heard of they failed to pay me I just don't like to die I don't like his family fine I also don't really enjoy him as a politician but I also think even from that perspective very moderate I think that it's curious that all of this is happening right inElection season and none of this really happened before when it could be resolved and I take no like joy in seeing like Donald Trump do a perp walk uh in Atlanta you know and listen Maybe if these people all committed crimes Giuliani and Sid pal and him maybe theyDeserve what they're gonna get but right now I would rather see a clean election get it done we won't have a clean election it's going to be deep fake City but yeah man I don't uh I I don't really want to talk about this that much what I do want to talk aboutThough obviously so and everyone's saying you got 200 million views on his thing with Tucker It's the dumbest thing ever guys I I maybe I should show you my tweet or my analytics this is so funny um when we talk about views on Twitter I don't think people realize maybe they doAnd they just don't care but like literally if you scroll past something in your Twitter timeline and that is the most common thing it triggers and it gives you a view right it gives you a view so everybody we're talking about these massive numbers that he's doingHere's my uh I had posted it and I do no numbers on anything anymore but I had posted a podcast on Twitter on X or call it right literally look at the audience retention I kept everybody for zero minutes by 1350 I was down to 98 of the people goneNobody is watching these full long-form interviews on X the notion is absurd the numbers are absolutely ridiculous right it triggers I've seen I have not watched the truck the Tucker uh Trump interview but I would say that it's triggered in my stream in my feed at least 30 or 40Times right such a such a something calling me a Trumpeter yes I I it has nothing to do with politics I literally disliked the guy I've met him many times it's a personal thing it is what it is I don't like Biden either you know what IMean the I think we all know that I try to thread the needle I am registered as unaffiliated although I'm considering re-registering as a Democrat to support RFK against Biden because I think that in the primary is probably where I could have more of a sway but anyways anywaysIt doesn't really matter so he's surrendered but what it does lead us to is that people are saying that Rama Swami is potentially his most formidable challenger but then more importantly then you can see that in the betting results by the way on poly Market youCan now buy uh uh View Bank Swami 17 cents chances of getting the nomination 71 cents for Trump obviously High odds DeSantis 13 Haley 7 all the way down but interesting that DeSantis has fallen uh so far in this but what you really want to talk about here is that now besidesThat we'll talk about that in a minute uh but where does everybody stand on bitcoin that's the big question because as I said we could be in a Raging Bull Market the next time we have a cycle right but here you go where do they stand so I think the consensus right nowIs that RFK very much gets it he's not a republican candidate but I think he very much gets it Trump does not like Bitcoin we know that he's said it many times Biden does not like Bitcoin that's very clear Caitlyn long you'll see it but she came on my podcastShe obviously had her master account by the FED rejected is very deep down this Rabbit Hole she made the claim you guys have to watch this podcast that the directive to crush crypto and to send Bitcoin to zero I quote which failed they wanted to send Bitcoin to zero cameDirectly from the White House but not from Joe Biden because he's old and has no idea what the [ __ ] is going on but from the White House in Elizabeth Warren staffer plant in the White House sent this directive out over last Christmas basically to Gary Gensler and all toCrush this industry and it effectively didn't work obviously which I've said they pushed too far but you have to listen to the interview she basically lays it out but my point being we know that the older candidates the two main candidates they are not not going toSupport Bitcoin we have DeSantis who I think is just like the kind of dude who finds a catchphrase and jumps on top of something I was like yeah cool Bitcoin right but then I think we get down to Suarez who didn't even make the debate stage vivec who I think really reallySpoke at Bitcoin Miami is really starting to learn Ryan selkis a lot of guys I respect in crypto they're really jumping Camp to vivec even from RFK right now really deeply believing that uh he's going to be the candidate but the point here is that every candidateHas had to outline their position on bitcoin which is scene which is insane uh Brian's leaving guys in case you were wondering uh buy him a drink on the way up right as the door slaps him on the ass anyways anyways digging in though I mean I I did have toWatch I do have to show this video I also don't like to say it this much and I live in Florida I'm sorry I just don't like the guy but anyways did you guys see the facial expression did you guys see this I mean this is the mostUncomfortable thing listen I'm sure if someone zoomed in on my face at any given moment on this uh stream so take this with a grain of salt it would be terrible but I mean this is like let you down [Applause] do that again and I will not let you downAll I can think of when I saw this by the way is never going to give you up never gonna will not let you down I'm Gonna Give You Up Never Gonna Let You down we're gonna let you down again it's so good it's all I could think of when I saw thatBut man that face I mean look at it like is he a robot I think he's one of those NPCs I've been reading about one of those people that's uh not uh an actual human person but I do think that it's really really encouraging that he and other political candidates have nowOutlined their positions on bitcoin and that they are generally favorable positions but hey you know what's going to happen in crypto after you get a 200 million fake views guys it would probably I'm being transparent it was probably the most watched interview in history I'm sure that's true but notThose numbers right anyways and probably a tenth of it maybe or less but Donald Trump nfts surge after Tucker Carlson interview of course they do because this is crypto bro as of European afternoon hours the polygon-based Trump digital trading cards were selling for over 0.13 ether215 up from point one if you take a look at this on open C guys look at this look at him he's a football player I had never even looked at these that is amazing Is that real why is his face look like that this by the way he has millions in eachAs a result of selling this collection people are like he's an eth bull like no like someone on his team like got the royalties when you dig into this let's look at the analytics here see this is crazy right it was trading into the day yesterday when people knew heWas going to get arrested so it started about point one eighth as people knew he was going to come in 0.14 and then absolutely skyrockets to 0.2 each and now kind of flattening out but this is the most crypto [ __ ] ever right I mean what are you gonna do you're going toBuy and sell this nft I mean look at this collection oh wow there's a football one and a basketball one silly hats he's a boxer patriotic cat Cowboy soccer to the Moon uh Stars uh number one got the uh we got the finger the big foam finger you gottaHave that I like the big thumb finger sunglasses uh moon with blurry face head Lego uh Moon and cowboy wow these iterative I mean nfts guys I'm gonna be honest they are so dumb but like I I would kind of like want to project one of these behind me on theShow I would anyways so now that we are done with politics I would rather not see I'm just gonna say I would rather see a real election no indictments I mean honestly at this point like here's my take just give Trump a pardon and maybe he'd go awayAnd give like Hunter Biden a pardon and agree that maybe Joe Biden has to go away and then we can have a real election that would be awesome let's do that we already looked at this curved crisis shows pitfalls of decentralized risk management oh we're calling it risk management now guys I'mSorry if you hear noise in the background I don't know if you do there's a little construction going on around here can't do much about that but yeah guys I've talked about this sort of Ad nauseam but I can't stop coming back to this story right we all know that theCEO Michael from curve took out a massive loan using his own tokens that was over collateralized seemingly safe seemingly a very safe loan safe safe safe loan uh and basically he gave like 350 a 320 million in collateral for like a 70 to 100 million dollar loan we'veSeen different reports and then they got hacked got hacked people started running for the hills they started selling their curve and [ __ ] went down okay not a crazy story when you think about it I mean look at the curve chart right here right 44 cents so but theCrazy part is that when you dig into what happened here this loan is big enough that if it gets liquidated this is a smart contract you can't negotiate with the bank and call them and tell them you'll put up more collateral whatever if this liquidates the smart contractWill liquidate this and it will have massive consequences across all of D5 selling off all kinds of things to make up for these loans even going through a potentially the emergency fund of Ave and other big name platforms basically this guy took a big enough loan and wasAble to take a big enough loan that it put all of defy at risk think about that it's not like we haven't seen this in the Legacy banking system but imagine that a small Regional Bank gave a loan that was bigger than their entire bookAnd if that loan went bad it would like shut down 20 Banks because that's what we're basically looking at here right so it's a pretty big deal even though it may not seem like it is and on the back of that we're obviously seeing D5 shrinks toMulti-year low as a crypto fueled future of Finance falter that was a fueled Finance fit fuel Future Finance falter say that six times that's dual future finances fuel future factors possible yeah it's a tongue twister cute tongue twister from coin coindesk but yeah first of all this is like if we're doing2019 again which I kind of think we are guys listen views are down Twitter followers are down prices are down new Cycles down there's nothing to talk about although seemingly there's a lot to talk about this week but we know that this is the very boring time-based capitulation partOf the crypto cycle until the next having and so naturally regardless of the curve loan we're going to see tvl an interest in defy waning but as you guys heard on Wednesday when I talked to Josh Frank defy has a lot of problems right aLot of hacks a lot of exploits a lot of broken Tech and then you have the very fact that a single person can take a big enough loan to effectively crash the entire defy Market that's a problem that is a problem so we're going to seeHow that pans out oh and then you know in order to uh to to save the price of curve so it wouldn't liquidate he did all these OTC deals you guys might have seen they were doing these OTC deals at 40 cents Justin's son a bunch of otherBig people handshake you guys won't sell right it's fine saying that they wouldn't sell uh for a very long time and price was back up you saw that was here 48 he sold to 40 they got a 20 discount price went all the way back up to 70Cents now we're back below even where they bought pushing towards here you can't tell me these guys are going to hold a massive loss yeah right so I think it's uh there's a lot to be a little bit nervous about here clearly with curve and we know thatI told you yesterday balancer deposits pulled nearly 100 million in crypto after there's a vulnerability we talked about this the other day too balancer these are blue chips guys curve balancer we're talking about Ave compound where these loans are involved these are the best of the best that we have and theyBasically said hey some of the funds here are at risk because of hacks my God this story I'm having a little trouble unpacking to be quite honest so tornado cash devs charged with helping hackers launder one billion including Infamous North Korean attacks okay so my firstReaction the one that I've had here the gut check reaction and certainly the reaction for the one Dev who's already was in prison in I believe the Netherlands is that people who create open source code technology should not be liable for what that code is used forRight I use my iPhone so do drug dealers right should Apple be in trouble because a drug dealer makes a call on the phone call on their iPhone no because it's a usage of an agnostic technology should Bitcoin be banned because some criminals have used it obviously notSame way that cash should not be banned because some criminals have used it so these guys being charged and put on a sanction list we're talking about Roman storm and uh Roman seminar two Romans it's a lot of Romans right neither from Rome for two Romans right but they're being accused of knowinglyAssisting North Korea and other hackers use tornado cash so if they just built tornado cash to be private and to allow people to use this technology to obfuscate away some of the uh some of their transactions so we private they did nothing wrong if they were knowingly helping likeNorth Korean hackers use it like a step-by-step guide then they should be in trouble but I don't really believe that's what's happening doj alleges more than one billion and transactions move through the mixing service which tries to obscure who is behind crypto transactions okay who cares right this is basically saying that byCreating it they facilitated more than one billion in money laundering that is complete [ __ ] like it could be used for laundering but it can also be used just because I want someone not to see where I'm sending money we talked about on uh crypto Town Hall the other day gotta find it stopIt's blocked here in the United States of course because the United States but dop this is doc.org there's a new platform that's really [ __ ] cool um and what it does it's not like tornado cash but this is more interesting when you use dop you can basically send aTransaction to another person and hide the address that it came from doesn't that make a lot of sense like think about this and that doesn't mean you can hide it from the IRS you can still give them access this isn't to do any criminal things right but it's basically like ISend you money and now you because it's blockchain and because it's public and transparent you can go into my wallet very easily and see literally everything I've ever done connected to all my other wallets see what I've bought who I've paid how much money I have imagine if you could doThat in someone's bank account like I send you a wire and now you can go look at every banking transaction I've ever done it's absurd so what this does is basically just make you like be able to privately hit a button and it sends it to them they get their money and theyDon't know everything about you makes a lot of sense is that different than what these tornado cash guys are doing I don't know if it's massively different but it's a really really really scary to be honest with you but like Doc yeah I haven't tried it can't use it but we talkedAbout it at length because we had a privacy spaces two days ago and I thought it was really cool I thought it was really cool yeah and tornado cash indictment fails to show clear violation of certain laws so the the it seems like when you dig into it according at least to themThat the the clarity is not there these guys probably just built code and are getting in a hell of a lot of trouble for it and I think that that is really really freaking sad and finally the story that you've all been waiting for you've been dying to see PPWeird Pepe transfers spook crypto investors and prompt mean coins 15 plunge did you guys see this did you guys dig into this did you first of all my first take is why do I have to see Pepe in mainstream media meme coins are embarrassing can't we just get rid ofAll of the mean coins uh Cloud Casino says I thought all new wallet make private ones use IDs for every transactions no one sees all your transactions anyway no I mean anyone who knows how to dig into a wallet and sees the address it comes from can dig in orConnect it to other wallets eventually you got to put Ethan there for it to work and that Trails back and connects everything but here we go the weird PP weird PP transfers boot crypto investors and prompt me and coins 15 plunge got a couple threads on it miles Dutro did aGreat threat of this but I'll give you guys the gist right basically the the Pepe multi-sig if you guys don't understand this these projects have multi-signature uh wallets so if any of you multi said I use Casa multi-sync for my Bitcoin for example three of fiveWhat does that mean that means that I need to sign on three different devices out of the five that exist so even if I lose two I got three to be able to send a crypto transaction it's very complicated very annoying but very safe so I have to go to three devices checkMy email do the things send the thing go to the place so with these projects they generally have even bigger multi-sig so it's eight so this required five of the eight people who hold these wallets to agree before they could send any coins out of the Pepe's wallet of the coins held byThe team held by the original team right so what happened uh they sent 15.7 worth of tokens to various exchanges a small three four percent of what they were holding not a huge number it's enough though to rock the market for sure they sent that to exchanges right which meansThey're going to sell it so 15.7 million no big deal but the crazy thing is it came out that the multi-sig had been changed from five to two so for whatever reason only two out of the eight key holders are now required to sign a transaction to send PepeAnywhere they want and sell it which makes it sound like it's going to be a very slow and painful rug pull right now in my perspective you just stay away from this because it's just easy to stay away from it but here you go it's kind of the same story for move blockchainTaking a look at the chart I mean it's at a huge area of support so like if you didn't know this news and you actually want to trade meme coins you you know this is this is your area right here right I mean that's the support we're in it nice bounceBut if you think you guys are going to dump Mass and you're hitting over sold on The Daily here but if you think these guys are going to dump massively wait Watch Out Below and also if you break this area of support 50 drop to even the next reasonableLevel I wouldn't touch this I don't understand why we have meme coins I think it's uh really dumb and I wish it would all go away but I don't want it to go away with people losing all their money that's what I don't yeah yeah it's broken it's bad and we don't wantThis to happen obviously guys that's it we we we plowed through a lot in 20 minutes we're gonna be like I said so we're starting crypto Town Hall at 10 instead of 10 15. and we're going to be live streaming Powell at 1005 so you guys shouldProbably go check that out if you uh like punching yourself in the face and kicking yourself uh into the butthole that's basically what it is we're gonna give you uh never gonna chew down we're gonna give you uh now we're gonna let you down look at this faceSmile but I have no soul uh someone's saying to put a link in the feed I can probably actually do that one second I'm gonna do that we do have a link to the show one second I'll give that to you guys we're we're freestyling now guysFreestyling here here's a uh tweet I can put in there I think it should work do you guys see that crypto Town Hall link well guys I mean it's it's a lot that was a lot and now we're gonna get Jackson right in the hole I really don'tThink that uh pal is going to be giving like super good news for people who believe that I don't even know what that good news would look like at this point I think it's just going to be higher for longer data driven approach now I'm overHere closing all these tabs so I can actually like pay attention to what's happening in the world um but yeah I encourage you guys to join me over there it was fun to be back on my own show I'm sorry that we talked about politics I don't want to ever doThat too again uh but I might because we're going into election season and it's about to pop off right so uh things are gonna get super weird things are going to get super super weird that's all I got for you today I will be back on Monday morning of courseEnjoy it man it's the freaking weekend baby y'all about to have you some fun peace guys thank you for joining see you Monday

Now the topic of today's stream is whether a U.S default is possible and what you should do with your portfolio to make sure that you don't miss the opportunity either way that it goes but the fact is I'm sick of talking about debt defaults Christopher inks isn'tHere today he's actually sick so I'm just going to scrap that completely and look at a whole bunch of charts and try to make sense of this Market it's going to be a lot more fun this way than wanting to go take ourselves behind the barn and put ourselves out of our miseryTalking about the United States debt ceiling once again this will be better let's go let's go Let's go what's up everybody I'm Scott melker also known as The Wolf of all streets before you add some errant hairs there before we get started please subscribe to the channel and go ahead and tap gently that like button look at that hair it's over there I get theMirror thing and I don't even know which side it's on that one's just not going to behave today it's weird it's weird guys we're bringing it today we're ringing it uh pirate X pirate wants to know what happened to my face I don't know it's my faceIt's just my face to get a haircut maybe that's it I shaved oh I shaved that's what happened to my face I shaved shaved probably missed some spots to be honest so yeah guys I got a message a few minutes ago that Chris is not going to make it he woke upHad a sore throat there was a plan in place and now we get to YOLO this stream Dez says Scott let me see that shirt listen for for the depth default I went with the USA World Cup Kit nothing on the back I don't think but yeah I've been feeling the feeling theSpirit of the USA right now pirate X pirate says I look like a prepubescent boy I'll take it look at this look at this you see it stick push it over make it safe you drive me nuts the whole time not because of the Aesthetics just because I can literally feel itAnyways guys so yeah we're gonna we're gonna wing it today and so that means we're gonna take a look at the top 10 coins by market cap maybe like top 15 because there's a whole bunch of stable coins and then we're gonna just try toGet a pulse of the market here not a pulse chain of the market because we don't talk about X coins no no no I don't care about hex whatever a lot of hex pulse enthusiasts I have opted out of even uh paying attention to it to be quite honestBut yeah a lot of talk of uh stuff going on on pulse chain it's actually a real thing now which uh is more than we can say for a lot of crypto projects I guess but let's uh Oscar thought it was a Florida Panthers shirt that would work tooMark says Bend pumping I literally like I don't even really know what that is I know there's the Ben Eve guy and then Ben Armstrong bit boy is gonna buy it and then it was down it was up and there was then there was psyop scam and then there was some otherMan it's embarrassing yesterday uh you guys may have seen over the last few days after the Bitcoin conference that uh there were some very angry people we've talked about this I I just can't not talk about it there's very angry people one of my uh favorites youKnow Greg Foss who I always have on my Twitter spaces almost went into cardiac arrest like stroked out screaming about Wizards and um what an embarrassment it was for the Bitcoin conference and it's for the children and that um somebody should have taken Udi out uh and beating him upUdi werdheimer who was the Tapper at Wizards and I for some reason decided I hated myself so much that I saw this clickbait Twitter spaces and there were like 3 000 people there and it was like debate phosphorus Udi and I don't think there's ever been a time I only listenedFor about 20 minutes but like there will never I will never get that 20 minutes of my like life back and if like that's where we are now like it was like the biggest bitcoiners were in there debating and David Bailey from the Bitcoin conference came in and he had toLike explain why he did it then I found out which I didn't even know and I have to say this is kind of embarrassing RFK had just spoken and literally like as he was going off stage apparently like the two wizards who were gonna floss wereComing on stage so I guess like there could have been a better scheduling there to not have those things back to back but dude I don't know if it's like a bottom signal or if just like it's been such a long bear Market that people are losing their damn minds but likeI find the uh dialogue and like crypto Twitter in general and all the conference talk I find it like intolerable and just utterly embarrassing and then not only do I find it like embarrassing like as a community I find it embarrassing because hey I'm sitting here talking about it I guess that's oneOf the things and B like I spent years like cheerleading a lot of this stuff that's like it's complete garbage no at the time we live and learn but man like we are and I know there's a lot of amazing things being built in this bear Market but like five of themAre gonna matter and the rest like man we are spinning our Wheels uh arguing over this stuff uh Tito says No Cap tiger cap today yeah I got a haircut and you know shaved whatever yep seems like people losing their minds I mean that's my take on it at thisPoint is it like there's like there's nothing left to talk about and some people are losing their goddamn Minds yeah I think that is the uh gist of what's Happening Here but listen so this is what we're gonna do I can't promise we're gonna see anything uh amazing but we got uhYou know top 10 coins here by market cap a lot of them are stable coins so we're going to look at at least Bitcoin ethereum BNB xrp cardano Doge polygon Solano top 10 hasn't changed much Tron Litecoin I guess Dot and then we'll look at ship that gets us to 15 and eliminatesBusd usdc and usdt so if you look at a bunch of charts see if there's anything promising there I can tell you that looking at this it doesn't look too promising like there's a there's a green thing there's a green thing one percent point eight percent Market looking heavy kindOf crappy most of these huge moves down are not sizable most of these move down these red ones are not that sizeable but clearly a pretty heavy weighty Market uh at the moment Louise says I don't understand how anyone is talking about anything besides the fact there is a legit presidentialCandidate that can be called a Bitcoin president yeah I think that's awesome I just think like most people realize that DNC are going to crush his dreams not allow him the light of day no air and that Biden will probably come back although you know maybe uh I've heard some theories thatMaybe you know Biden really doesn't run again and they're setting it up for a Gavin Newsom oh my God or something like that who knows man politics politics are horrible and I guess uh you guys didn't even know Chris is going to be here we've got 168People where are the people go call your friends bring the people uh Wednesdays are always really slow anyways so diving in to the red here let's go first with Bitcoin of course we have the Bitcoin weekly guys like what's there to talk about volume is non-existentRight but if we care about these things the 200 weekly ma which a lot of people view as the trend like there's a lot of people who think the 200 weekly ma is the V line that determines the trend above it bullish Trend bull market below it bear Market well we'veTested it there and now we're just kind of hovering above it but like this is a no volume clearly we were rejected up here in the 30 000 area but just to make the point again we had a downtrend that's the red checks right lower highsLower lows all the way down to here we did make a higher high that was higher than this right here at the break of 25 212. that's a new bull Trend uh say it again we can lose it it can come down honestly now you say it's a new bull trendAs long as we will make this and we'll make it a big like uh pink or purple line purple line right so this was anything that lands Above This 19569 level will remain a higher low High ER low bull Trend low high high or low higher high higher low higher high would beConfirmed by any low that we put in above 19 569. I know everybody's still looking at twenty five thousand two twelve because we haven't gotten the retest of that line which we should right and then that puts well this Target's already in play but this head and shoulders inverse Head and ShouldersThat we confirmed here on that same break as 2-25 212 was a key level would be a retest and honestly we still have the target of that at 41 000. like I'm not saying we get there I'm not saying these patterns play out but we're looking at a weekly chart likeThat could hit its Target in 2024 and it would still be still be accurate yeah anyways anyways that's the weekly chart clicking through we have the daily chart looks like we want to go down and retest some of those areas oh no it'll happen but weHave this head and shoulders and look we have this very clear neckline this blue line right here and we've retested it one two three four times without really being able to close maybe an inch above and now pressing heavily back down on this 100ma which has now been tested four times the supportYou got to think there's a good chance we leaked down to here even down to the 200 here in the 22 thousands which would line up with this sort of area here Bitcoin could go either way I'm not there's no reason to be bearish on itYou just have to realize that you could drop and still not be bearish but like hey Chris is here he's just not here hey Chris wish you could talk yeah Chris is going to give us commentary from the comments which is even better yeah just gonna hang out with you guysInstead of hanging out with me like I don't know this is the monthly chart pretty clear rejection up here and what do we got here nothing doing on the line chart that's exciting I mean when you dig into the line chart this is just get rid of the Wicks I mean look howSideways we are I mean the four hour chart since the 11th I mean I haven't even looked at this but like by the way I haven't looked at all these charts guys we're looking at them fresh I mean you've basically been in the range of 27 4 to 26 3. that's a thousandDollar range since you could even pull it back to here since May 11th two weeks in a thousand dollar range discounting the wicks man brutal brutal so I can't see a reason to be like I need to get long I need to get short I need to do anything there'sNothing you need to do here this is uh I will show you a chart that this reminds me of yeah just bring it up over here there's a really cool chart that this reminds me of a lot um see if I can find it I found it weird ifI found it on Shutterstock which is not where I expected to find it but you get the idea it's discharge the chart of a Dying human person that doesn't mean it's dying it just means that we're here still awaiting volatility and boring now let's take a look at EthanThe Bitcoin pair nothing much has changed for me on this still had the massive breakout here that that bottom was in like I know that we have seen Bitcoin dominating whatever but if holding up exceptionally well actually when you look at this against Bitcoin throughout the last even year I meanWe've got decreasing volume here price floating down clearly some sort of you know descending wedge pattern show you guys take that blue for aesthetic purposes you know this should break up and we should be retesting higher levels I mean even if you just look if BTC theEntirety of this move here and down right still haven't even gotten to the golden pocket which would be 0.102 to 0.107 still a pretty big move up from here right and that would just be the normal even if you can considered that we could be going down and if you look the 50Level not a Fibonacci level but the Dow level a lot of people add it to their FIB levels but don't listen to people who call it a fib level because it ain't and then that's exactly where this resistance is at 0.08590 and exactly where this move hasBeen stifled two times so I think ethereum still looks completely fine versus Bitcoin even with all this sort of downside that we've seen and looking in on the daily like you guys may have remembered we had this uh ascending triangle back here right came up hit its Target overshotThis back in here I had bourbon sheds on the stream we were up about we actually it was more like we were up at like 1800 and I was like I'm buying 1284 and they were like yeah that line looks good and people are like you're nuts it's notGoing to 1284. well I did buy that's the last time I bought and it's gone much lower since then obviously down to about just above a thousand but then you kind of had this key level right here right created on this bounce up here created this key level of SupplyWhich was all the rejections here we talked about this a number of times but now we're above it right Consolidated inside and now all of this is support so yeah the 50ma is here but you got to think that as long as this red area is holding we should at least be comingBack up to 21.59 and we start flipping these areas yeah we start talking about targets up to like 3 000. nothing looks bad here to me right and more importantly I mean I don't know if the line will connect but if you draw this kind of idea you can seeNothing but higher lows right so still a bullet Trend low high high or low higher high you know nothing nothing looking particularly bad here on these coins going back I believe the next coin by market cap is B and B uh I don't know super sidewaysLet's zoom out a bit I have one line on this chart because I deleted a whole bunch of lines to try to give us a fresh look I mean I think that something like this happening really right just move bottomed here you can either pull it to here or maybe to hereI like that better because look how that mid-range has been Chris might disagree I don't know he might like it here still pretty good hmm it's even a little higher right about there kind of like that we'll just call these deviations because that really was the high that was put inAfter that low although we haven't really returned to the bottom at all Chris says yes you like that one better yeah I figured you would it's more honest I mean because this is one big wick and it's kind of uh giving you a bias after all thisPrice action and that would give us kind of false hope for a higher Target but you can see that we are either way I mean we're kind of clenched here between the 50 and 200ma but holding very strong towards the top and once again you knowNone of these are looking bad right you got okay we can call this like sort of the main sport but you got a low higher low high or low potentially a higher low looks good just doesn't look bad right I mean that's obvious this whole area isObviously really okay so if we were going to draw that this will explain this a little better if we're going to draw a supply Zone off of this last sort of up candle before that major downtrend right remember the idea is that you got people getting chopped up all inHere right see this down up down up okay well yeah I'll just sell when it pops back up to here is what they're thinking and then you drop so you got all this selling interest or Supply left over that'll show you why that Wick landed there right that's straight into that SupplyClean rejection come back down to test the mid-range really didn't come to the bottom so I think it looks fine and I think that assuming you break out here you're looking at 400. you're certainly looking at Price action in this area just kind of a vacuum yeahUh guy always sounds like you just took a huge hit of a bug it is a holy smok white ducks do you know what you're talking about man yeah I would name yours in Chris's band Florida Texas lines I like that I like that it's a good name for a bandGood name for a band yeah we put debt ceiling in the uh in the title and people are like I ain't watching that I like I should have uh we should have titled today's you know what Misha I have an idea here's what we're gonna doI don't know if we're really gonna do this but this would be funny as a test as a test for a week maybe for a week Misha we're gonna go ahead and we're gonna like make the most outrageous thumbnails and titles for the streams like humanly possibleSo Far So Far Over The Line that it's obviously sarcasm and trolling because like I you know like here's an example cardano to pull a 17 000 X tomorrow what's the next 40 million x all coin that you need to buy three hours ago right and it'llLiterally be like me like with the liquifier going and then and then like we'll have like huge red x's and big green checks and like a big Target and we'll see see if people show up and then little but no like people like like people you know like guys there's a wayTo do this algorithm I've told you I don't do it like there is a very good way to do the algorithm that's to go like this and do a clickbait title but I'm talking about going like so over the edge that it's literally insane like Bitcoin to zero tomorrow or your momLikes horses I don't know like some weird you know but like so crazy maybe like like AI pictures of like Gary Gensler like you know with a lotto ticket going like this just wild wild clickbait maybe it would yeah maybe that would work I'm not going to talk about that stuffIt's just to get the people people here xrp because we gotta look at it I mean listen we know that uh these descenders have been a little less uh impactful of late but that's pretty good line yeah yeah exactly Des one inch going to nine inch don't miss it chart of paloozaDays were good yeah those images for YouTube agree just stupid that's what it takes to drive traffic but you have to do it you have to do it you can't not do it but I mean you can but then you get 201 people watching you uh scream into a microphoneAnd look at charts on a Wednesday morning yeah we have a hundred and twenty six thousand subscribers on YouTube I'm not very good at math but I know that 200 isn't a high percentage of them anywho descending line right there the thumbnails are going to be so good INeed like the worst ridiculous thumbnails ever but they have to be so bad and so obvious problem is there's gonna be a lot of people who are like this dude's doing the clickbait thing he's given up he's capitulated because they'll think I'm serious because people don't understand sarcasm xrp looks totally fineTo be honest I don't even know about these this line yeah I like it 200ma it's kind of a clean line I mean above 41 cents I think it looks pretty good you dropped that I think you're coming down into at least the 36 but probablyLower that's a very key major area of tons of uh price action that I drew on the weekly chart at some point Harry head reminds me of 127k don't sell yourself short man don't tell yourself short judge you're a tremendous slouch what movie so I think you just gotta wait for a reallyClean break of this line honestly at this point I want to be above 55 cents because like if you get above this resistance right here it's just party time there should be clear skies for like a dollar you know or somewhere up in the 90 cents range so yeahSarcasm alienates dumb people are you saying that I have a hundred and twenty six thousand eight hundred followers that are dumb because those are the ones who aren't showing up they're not showing up all right I mean xrp I literally I would wait for a flip of 55 cents I don't know AdaBullish Divergence on the daily chart all the way to oversold bearish Divergence all the way to over sorry all the way overbought bearish Divergence all the way to oversold it's like that is a pretty good indicator pretty good strategy this it looked like I would have said that itLooked like a big inverse Head and Shoulders but kind of didn't confirm so maybe we're getting a complex inverse Head and Shoulders which is like a person with a defect who has two shoulders right but either way once again Guys these coins are not really okay this oneThat's a little shady I would say they're not really in down Trends because you're making higher lows and higher highs low high higher low higher high as long as you come in anywhere above 0.2976 he knows the movie we got a pool in a pond a pond would beBetter for you Scott it's Caddyshack guys it's caddyshad Chris likes xrp in case you were wondering yeah uh uh perhaps geolocation subscribers plays a part it's 227 the UK and most people are in work or others are in bed perhaps but crypto banter's on right nowAnd I bet they got 3 000 people watching you know probably anyways uh I do not love when I pulled this I don't love the fact that this broke down and but uh I still think this is gonna put I wouldn't buy it now I still think thisIs going to put in a higher low here and then head up I mean all these coins look totally fine and boring the doggy coin as they like to call it I still feel people like call it Dodge who have been here a long time like how do you notKnow that this coin is called Doge at this point really uh there was the Saturday Night Live top that was the topiest top of all time at 73 cents you guys can go back play the tape I said buy this thing at uh 16 cents or there was like nine cents itWas here yeah nine cents it was this line which is no longer impactful but I think I actually said nine cents I don't think I even said 15 cents I said buy this thing at nine cents and never retested that when it came out and then uh you're still poor if you didYou did get a chance to get out 16. it's gone as low as five cents crazy don't see uh any like fundamentally good reason to be in Doge at this point all kinds of lines we can draw but uh you know got this one if we're gonna do the uh Pink FloydLaser light show you could do this one then we could draw one right all kinds of lines bottom line it ain't breaking any of them anytime soon I don't see any reason to look at Doge this is this price action is horrid I mean look at that move and then itRetraces almost the entire move right back days later hmm I don't know um Christopher said ran got rid of his intro song says time to grow up are you talking about the one where he does the like that guy in the bathrobe I like that yeah it's played out eventually youGot to move on I'm not moving on from my intro music though I'm sorry guys guys Doge I see nothing Matic I've been really disappointed I'm gonna be honest this is this is after Bitcoin and ethereum is my largest position has been for a long time even it's suchA weak bounce even uh after off oversold here right I mean got oversold did not make bullish Divergence because he got a higher low on both like almost reset ours I had a 44 without any meaningful price action you've got a death cross here which I don't really care aboutBut there are people who do care about that this line is meaningless at this point I thought that it would actually come off 130 and go to 170. I will say though that uh one of the bigger plays I did post was this inverse Head and Shoulders here uh in the middleOf last summer and that did Hit the Target and overshot by 20 cents so at least uh there's something there but now I don't know I don't know I think you can't like it let's forget okay let's dig in over here pretend all that other stuff doesn't work you can'tLike it below this line I would say right that's a very very very clear support major break so I think you get a tire I think right now if you were trading this and listen like if you were just a Trader just look at the chart no whatever like you're looking to shortThat in theory your target if you're going up is 94 if it breaks that the reason though is because like you can set a stop loss at I don't know 97.98 if you're wrong and then just buy the retest and it flips bullish right so you've got two setups on the same lineOkay I'm encouraging but like this is bear flaggy obviously right so I think you're looking for a trickle up and then a breakdown to guys I love Matic like I said I'm not selling that's one of my biggest bags even seeing this but yeah I would not beSurprised to see this go to 75 cents I don't know if Chris still here what do you think of that yeah yeah oh big move soon should be my uh my uh band name it's good uh uh Scott include GMT time along EST in your Showtime tweets I missed the beginningAfter we watch it on this ratchet YouTube okay I will do that but like I'm American we don't think about the rest of you guys it's not what happened I'm not saying this will happen I'm saying if you're just looking at this blind you have aVery key level broken that was a major support you're looking for a retest as resistance the higher RR play is to short that down hate to say it Solana did exactly the thing now it's just boring this is Solana the soul no you got soulS James Brown is it no no it's not um I can't believe I just missed wrote that can't believe I just said said that but hey whatever I was thinking about Eric being Rakim but the original sample now I'm trying to remember Bobby bird maybe no now I gotta look this upBobby bird and yeah that's all I think that's it said James Brown because it just popped it yeah I know yeah it's always poppy bird but anyways Anyways uh you guys don't care about that Solana I just don't see any okay here's the thing like we're zooming out we're looking at Daily charts yeah there's no trades to find right now but all I see so far is that this one did not make another higher highRight low high high or low not confirmed not as much of an uptrend but still it just looks kind of good I mean the fact that this went from eight dollars to 27 when it was supposed to be dead pretty good uh when are you leaving to TwitterSpaces and breaking the internet guys uh I'm not leaving anymore in fact we'll talk about it more tomorrow probably but uh you guys know that I've been unsponsored for like I don't know since Moses people throwing money at us all the time I get like 400 meme coin DMS every dayThey're like bro like uh promote our project we'll give you twenty thousand dollars in meme coins to talk about us on your YouTube and I don't take any of those sponsors ever right um and I've been looking for the right partner and looking to do something thatWas a much kind of like bigger deal and so like this is my uh teaser by telling you without actually telling you about them but I did just uh did a pretty meaningful deal with okx and I'm super excited because um not only do I think they're awesome uhUh but it also means I get to go to a lot of Formula One races right going to Silverstone with them in July going to Singapore uh in September gonna give speeches about crypto coins to the to the normies and orange it's gonna be awesome so yeah I'm not going anywhere fromYouTube we're gonna be we're gonna be doing the okx thing here for sure but next Wednesday every weekday I will be on Spaces right after this so it's going to be 9 A.M here right then banter does 9 30. I finish at 10 they finish at like 10 15 and then weMove everybody over to spaces and we do spaces every single day decal for your car also dad was literally just I was hoping they would just throw me a McLaren but I don't think that's happening Jared says team Red Bull I can't be team Rebel anymore man I know they're theFastest car in the grid but we're gonna be rolling with with a player and the best way honestly like my content's all free and whatever like the best way you'd ever be able to support me is literally just go sign up you don't even need to do anything there but the reasonYou're gonna ask and I'll tell we're going to go into it more but the reason that I'm like rolling with okx is because a they have a U.S presence and okay coin different be like I think their marketing and branding is amazing I love their CEO I love heiderRafiq the CMO who we've had here A bunch of times I think that they have a very concerted and thoughtful way of deciding who they work with and how like McLaren and it's all about the tech and Innovation and also like they are disrupting themselves with a massive web3 presence they're decentralized wallet they believe in taking your coins off the exchange they allow you to you know work in defy which basically competes with their own centralized exchange so I think it's pretty awesome yeah I will be shaking those big champagne bottles on stage with myselfBecause I'm not going to win anything anyways we're looking at Solana we're looking at Salama yeah you guys are going to be seeing a lot of okx I'm gonna ask you guys to just go sign up uh you know whatever you don't have to don't really care if you don't do itUh we won't be friends but that's your problem not mine because I'm great to be friends with TRX guys I have not looked at this I didn't know that this was back in the top like 15 but actually I'm not I couldn't go out on the limb and say I'm surprised TRXIs not doing better because the fact is like this is the network that people are using to send stable coins do you know like I I now I gotta look it up I don't have the number on me but uh percentage of usdt transactions on TronUh I'm just seeing more than 50 percent and this is from Finance this is like a long time ago but yeah I think it's like the last number I saw I think was like 65 percent or something uh of tether transactions are on Tron and now if you look like I uhOn like the exchanges and stuff largely if you go to send tether the default is TRX it's Tron network trc20 not erc20. crazy yeah trying to santis guys mm-hmm yeah he's gonna now Ron DeSantis gonna announce his uh presidential bid uh with Justin sun on Tron you heard it here firstYeah okay X and we signed it it's a long deal so like I've got uh I'll actually be able to I don't know like pay my employees and my mortgage for the first time in six months on actual income that I'm making at the real timeI won't make anything by the time we're done because I'll just blow it on uh making more content but at least my employees will you know they'll feel good uh yeah I mean Tron looking pretty sweet here right and I didn't even know like I said IThink you know listen that was the Epic breakdown let's just zoom in on this much of the price action um I mean if you want to buy this at .072 this is what you're looking for maybe you get a little one of those to fake you out and then to 92 cents butEither way either this retest or you wait for the reclaim like it comes down in here yeah I mean this is that's what I'd be looking for from Tron I'm not saying that'll happen but this is where you actually are interested with another you know 30 something percent move to the upsidePretty good pretty good you can't can't be mad at that and then eventually to uh 12 cents up there didn't know didn't know Tron looked kind of good okay X there in USA they have okay coin but you can as an American you can useAll of the defy and web 3 parts of okx without kyc because it's just defy right so they have a wallet they do like yield farming and defy and swaps and all that stuff they don't get paid for you to do that which is amazing but yeah pretty coolOkay coin has a lot of issues well there's some liquidity issues right now since the banking problems happen yeah Chris says he posted TRX chart a week ago or so on Twitter been watching it for months now yeah I mean it's just I mean it's in an uptrendHigher highs higher lows anything above this line five cents whatever that is it's looking good looking good Litecoin not heavy coin apparently has a having coming up I know that because crypto Twitter won't shut the up about it why am I looking at a bitfinex chart here let's uh do something new let'sIcon let's see if I have a better one but if not we're just gonna um I join coinbase let's do like join usdt it seems like a more reasonable place I used to like that oh guys you ever see my old charts there's so many lines you ever tripped on acidSo many lines okay we're gonna do something to do you guys remember what I used to like had my dark charts fizz oh man let's just do like going usdt on uh oh my God that made my brain hurt that was awesome that means that we haven'tLooked at that chart in a long time throw up some things boom Litecoin a lot of excitement around the litecoins because it's got a having because you know it's Bitcoin knockoff so I'm not saying I don't mean that in a negative way I know we have some serious Litecoin enthusiastsAll up in here Randy are you here Randy are you here today Randy who's always here uh who is uh Miss Teen cryptos amazing father he's a big litecoiner loves the litecoins yeah I mean guys uptrend right higher lows all I see is higher lows on all these charts do youThink Hong Kong opening up in dead ceiling news will lead to bullishness man I didn't even see that but yeah sure why not um yeah man those charts were wild it's like 2008. so many lines Charlie Lee dumped on me sounds like a personal problemChris says I'm a fan of Litecoin since I mentioned it as a buy at 50 in October I think we've still got some good upper movement incoming so good that gives me some bias uh yeah sorry about back in here it was starting to starting some pretty clearAccumulation refusing to drop and now moving up I mean I think I mean Chris correct me if I'm wrong I I don't see why you'd buy it right now I kind of want to see a flip of this hunt like above 100 basically you know youGet above these areas 105 and then we're talking big bang big moves see what happens if we draw a line from here I guess finding this constructive our numbers are going in reverse so maybe people just don't like these charge streams yeah I was doing too many lines on my chart umYeah uh he said it's a problem how actively do you trade almost not at all I've been pretty transmitted like I gained a following because of my trades and trading and that's why we had a YouTube we used to have 2 000 people in here and we'd be Charter palooza and I'dBe showing my trades but like where can you even trade anything awesome in the United States and like can you even show it on a screen without worrying about like Dairy showing up and saying that you're giving Financial advice to people like I'll tell you this like I've satWith some friends who are like YouTubers who are based in the United States who were doing like live trading on like vpns and I'm like bro you gotta stop I know I hate it but uh yeah yeah but I'm not really trading because heyAlso I mean not not a not a big secret that like my liquidity a lot of it was on Voyager guys so the money I was using to trade that was where like I was holding all of my profits it's gone so it's likeNot a point where I want to go like sell a house to make a to put together a portfolio worthy of like my timed trade so yeah uh Litecoin does it looks fine but I think you got to just flip that area Dot that didn't happen huh youYou still though like you got these break but dot is at like if you're an accumula if you're an accumulator that's with like a bunch of O's right the memes on crypto Twitter is crypto Twitter just become like maybe it always was but I think like it's just the worstIt's bad and I don't I I that's sad to me I like used to enjoy it but it feels like it also feels like sort of the like and uh Anonymous like trolley is like you've just become very marginalized by more like legitimate people in the space which I guess that'sA good thing I mean you got a little bullish sweep of that five dollar fifteen Cent low that looks pretty good I just I don't know you got this tiny little kind of range going on here from here to here like maybe above 550 you start toDude I need Chris's thoughts on this one it also looks like a descending triangle to be honest I need you Chris foreign like the smash button guys and the other reason obviously the numbers go down is now we're earlier it's interesting when banter used toStop and I was at 9 30 and we were going to 10 30 we would literally like double our numbers at 10 15. now yeah um yeah Chris says it doesn't look great yeah I don't think this looks great I think this looks you know guys descending triangle obviously is a flatBottom so you got this right maybe you'll get another one of those before the breakdown but like this is like a bouncing ball right you know you guys know whatever like when the ball bounces it hits the floor and just keeps getting lower until itSweeps down so I'd be looking I mean I'd be looking down here in the four bucks if you're looking for a buy otherwise you're in I don't even that's not even a great line let's be honest bad luck talking for 424 maybe below that I mean you're starting to look atLike 350 and then it's really Goblin Town Tito says you need a new show if I could do ish this is what I do tell me what you would do Fat Bottom Girls but I do like the flat bottom girls Queen reference Shiba Inu still in a top 15 coin are these Layer Two still bullish long term I think so if we believe in crypto and know that these layer ones can't scale then anything that makes ethereum better should work ship guys there's nothing to see here kind of like a natmatic one maybe youJust say Hey listen I could long it to 9.65 but then yeah I would be looking for this trade on ship yeah these don't look great some of these definitely look better than others you know and then down to here that's what I'd be looking forYeah that's really all I got for the charts and I I haven't seen a single chart here that's like compelling me to like dive back heavily into this I want to see what uh Tito's show ideas you guys are you tell me show ideas we'll try them we'll try themWhat about xrd is that Radix I love those guys so I at a consensus I've never really I'm gonna be honest I've never really looked at the token I don't even know what this token oh glimmer Moonbeam I pulled that up because I saw some news about uhUniswap is expanding to polka dot via Moonbeam parachain so I pulled up Moonbeam and that's the chart I thought that yeah that's good news like whatever sweet uh what was I just doing xrd uh uh xrd try and find it on a bigger exchange it would do kucoin not much history thereWe have more here a little more on bitfinex oh you guys aren't even looking at my screen but hey whatever man whatever man whatever dude this is xrd yeah that moomim chart which I own by the way remnant of the last Bull Run I was looking bad okay let's see hereOkay there's Radix so yeah I was a consensus and I've become friends with Piers uh Richard from Radix I just think he's a really cool guy and so he was like dude you got to come by the booth and learn about the ecosystem and I literally went to their booth for likeAn hour and a half and they have like you know four or five other projects there that were being built on Radix and I spent time and sat there and listened to every single one of them giving me their full pitch some of it was really cool I can now ICan't remember the name there was an nft project where you could like create and mint your own crazy nfts that I thought was actually really really cool stuck out so much so that I don't remember the name but yeah I mean I really think that uh good people trying to doGood things that said I don't yeah I think we just do this right I don't know if it holds 642 it should go back up there's a pretty Savage sell-off after that move though big move up no volume dropping I'd be looking for a bounce there yeahCan we look at FGM that is a show of Gensler dies tomorrow I'll be trading X I didn't see that part that's a good show you FTM oh did something die while we've been talking crypto I mean wildly oversold on the four hour hitting oversold on The Daily losing theDaily 200 though I don't like this I don't like this I'm not an M.A guy but like they happen to be on my chart there and that's a very clear retest as resistance and then the AAA moved down if this can close RSI above them no I don't like itWow something happening here there's real volume sell off on FTM right now was there news or something did uh did FTM get busted laundering money for Russia and Ukrainian uh Chinese cartels I don't know that's not good not a good chart through 37 I don't know I don't know manThis is a consolidation and a breakdown there's nothing bullish about that not touching this what I would look for for me now uh you know maybe I will is for uh bullish Divergence right this comes down we get that because wildly oversold can't that I can't can't uh in goodFaith get excited about this market right now it's a market-wide move yeah something uh I think crypto just got herpes let's see let's look at the Tie by the way okay let's look at the screener I'm not it's not a comparison I'm just saying like we do we factually have aLot of the same fans and uh my fans we got a bunch of their fans at one point and so they come here and they hang out and then they go uh watch banter and it's not a bad thing first of all guys this is relative trade volumeRight here I don't know if you can see this but 20 relative this is 30-day trading volume over the last 30 days uh on a moving basis average I mean everything here not named xrp is down over 20s so most over 30 percent so like that shouldShow you how little volume there is across the board just a lot of red like maybe you're a dip buyer but uh that chart looks bad let's fly back through these ship dumping a little FTM is dumping extra though Litecoin super kind of dumpy TRX might give you that entry soul IMean these are a lot of these are losing their 200 Mas Matic you might get that breakdown Ada don't like that yeah man I don't know if not even oversold on the four hours so I would say more to go got the overbought get the oversold Bitcoin pushing down at the bottom ofThat very boring range let's see if that's a good place for a bounce I don't know man what terminal is this this is the tie if you guys don't know guys we are improving on it but like let me show you so I've talked about this a lot the theThai terminal so this is my dashboard this is basically like the uh Bloomberg for for crypto right so I've got my news feed up here this is like all the news so like every two minutes this is just like opening the tap for literally everything this isThe most viral news based on tweet velocity in in an hour like on a rolling basis so this is where you get your like really good breaking news this is like events unlocks things like that uh main net launches wallet stuff I don't use that as much obviously just a quick lookThis is that screener that I blew up I just made it bigger it shows you and you can you can basically like I mean you can make a million settings you can tie the things together it's incredible but I just like the relative trade volume and the relative tweetVolume on a 30-day rolling basis this is all your sector performance um see and then uh trending coins on coin gecko this will give you there you go Ben like you this would have told you hey Ben's probably moving because it was a that it shows you ahead of it thenI've got like a bunch of macro Futures ethereum uh inflows and outflows um total tvl of different coins trending collections I'd never look at that because I don't care about nfts hash rates mining stocks mining pool market share ethereum staking rewards I mean there's a lot here percent of ethereumStaked in profit these are just the ones that I've chosen I mean you can dive in here to a million things what I was going to tell you is that like we created this the daily close newsletter um that's not what I wanted to do at allUm to give you like on a rolling basis this is that trending news which to me is the most valuable thing gives you the top stories every day at the daily close and then shows you the Futures we're working on a way to make this uh more text basedSo that like it's more obvious gives you a summary with AI there's all AI driven and from them like it's basically all the metrics I just showed you outlined in uh more easy to read and understand right what's going in what's going out relative active addresses obviously things seemingly dropping what coins areWhales accumulating right now like in the last 24 hours trending searches we got rid of the uh nft part yeah so there that give you an idea anyways so yeah we're trying to dumb down this terminal make it accessible nice little bounce there on bitcoin butThat's a five minute chart so yellow uh yeah yeah if you guys hear that if you care about the daily glows if you like that if you don't I don't care it's fine right there 25 bucks a month because I pay for the data and the tie I'm losing money on that tooIt's kind of my thing these days losing money yeah scrolling there you can read about that in the comments um you can tell them when Scott's really tell in scotially thinking stay the away from training today yeah I mean we got higher lows and a lot of thingsBut I can't see trading this right now did something did I like I don't know if I missed some major news just now did like uh Kevin McCarthy come out and say that like Biden died during the talks and that the Republicans are taking over with a spaceshipDid I miss something you guys know better than me the name is the Thai but the tie itself is only available to institutions I happen to have access to it uh and so I was trying they don't allow retail to use it it's very expensive forI mean there's so many things and I can't even like I I I don't even know how to start looking into this I it's insane companies nfts coins and then like I don't know like find a Coin you're like let's go into ethereum and then likeYou do this wild Deep dive into all the ethereum news all the metrics all the tweets about ethereum and like this is not I haven't even derivatives unlocked like it'll tell you all the coins that are unlocking which by the way is probably the most important thing to know with aRelatively newer altcoins trading charts research charts screeners alerts news I mean it's just insane yeah yeah anyways um yes I personally think you need a new format for the Daily News Feed is kind of rudimentary looking you need to Bear design Welcome to My Life yeah don't disagree I'll disagreeAnyways guys that's all I got for you today I think make sure we gotta we gotta we got a panel tomorrow do we I'm looking I think we're doing a panel tomorrow he's typing I can see him working on it yeah put together a panel for tomorrowGonna be great it's gonna be amazing and then next week dude we're ramping it up bigly ramming it up huge we're gonna go big can we go big on the Twitter you spaces uh I'll tell you one thing I'm working on and it shouldn't be saying thisPublicly I'm trying to get RFK and sailor together for a show working on it back Channel because uh sailor did a big fundraiser for him shouldn't have said that publicly but hey here we are guys I will see you tomorrow 9 A.M Eastern Standard Time peace please Let's go