Crypto Market & Bitcoin Price Chart 3rd Week Confirming 50-Week, Next Range Then Expansion — Transcript
Full transcript
- 0:02[music]
- 0:13Hey, what's going on everybody? This is
- 0:16the Blockchain Backer bringing you the
- 0:19latest cryptocurrency news and analysis.
- 0:22Today we'll be taking a look over here
- 0:23at the total market cap of the
- 0:24cryptocurrency market which closed its
- 0:27third consecutive week above the 50week
- 0:29moving average along with the Bitcoin
- 0:31price chart following suit closing there
- 0:33above $86,000
- 0:35our highest weekly close since really
- 0:37back here in January of earlier this
- 0:39year 9 months ago. XRP still humming
- 0:42along there bucking right up against
- 0:44that 50week moving average but unable to
- 0:46get through yet as macro still continues
- 0:49its waddle. Of course it's been closed
- 0:51throughout the weekend. and we'll see
- 0:52how things go this week. But otherwise,
- 0:53the market looks healthy. It looks just
- 0:55like what it normally looks like after
- 0:57we go through bare markets and then do
- 0:59the typical things we do for a reversal
- 1:01where we've gone oversold during the
- 1:02capitulation phase. Then we produce a
- 1:04bullish divergence and then bust our way
- 1:07out going through the 50we moving
- 1:08average. It's all the same things we
- 1:10typically see in here. Now we get to
- 1:12enter kind of into the choppy phase and
- 1:15this kind of middle ground transition
- 1:17phase of where boom very exciting coming
- 1:20off the low and then I theorize right
- 1:23it'll probably be a lot of chop
- 1:24throughout in here until macro really
- 1:27gives us a green light to be able to
- 1:29push our way out and go together like we
- 1:32see in really all past cycles and all
- 1:34past bull markets. And so last week we
- 1:37talked a lot about how it being no
- 1:39longer a bare market, no longer uh
- 1:41bottom building behavior, but
- 1:43transitioning into risk on. And once we
- 1:45typically get through that 50week moving
- 1:47average, we enter into risk on. Of
- 1:50course, it's probably important to
- 1:51clarify risk on does not mean we go up
- 1:54every day or we go up every week or up
- 1:56every month. But historically, once we
- 1:58come off these lows and we get through
- 2:00that 50week moving average, it's the
- 2:02last domino to fall. We go through all
- 2:04the things that we look for on larger
- 2:06time frames when it comes to oversold
- 2:08bullish divergences breaking through 50
- 2:10weeks. We look for onchain data like we
- 2:12saw we got to 10.8 million coins and a
- 2:15loss for Bitcoin bouncing off of this
- 2:17300we moving average on the total market
- 2:19cap. Simply put that any corrections
- 2:21that end up happening historically are
- 2:24just corrections within a bullish trend.
- 2:27meaning that historically they're more
- 2:29buyable than trying to buy every dip of
- 2:32a bare market. Every time these things
- 2:34have happened, the bottom is already in.
- 2:36It's a more of a riskon environment. We
- 2:39don't enter bull market. And we can all
- 2:42kind of clarify what's a bull market.
- 2:43Does a bull market start at the literal
- 2:45low? I guess you could technically say
- 2:47yes, it does. We've brought that
- 2:48argument up before. But really, if we're
- 2:50looking for like bull market where
- 2:51things are like crazy and exciting and
- 2:53euphoric, they come during periods of
- 2:55expansions, right? And so now it's this
- 2:57long process of working back up this
- 2:58wall of worry to try to get to an
- 3:00expansion and looking for a lot of macro
- 3:02elements to align and confluences to
- 3:04align at the same time to say, "Hey,
- 3:06guess what? It is time we may send."
- 3:08Right now, I theorize we're just kind of
- 3:10working on these types of environments
- 3:13throughout right in here. This is all
- 3:15repricing of the market after being
- 3:17oversold with the whole market being
- 3:19panicked about us going down to 40 to
- 3:2150K. But then we kind of enter into a
- 3:24chop period all throughout in here. And
- 3:26then we're waiting for macro to be able
- 3:28to send us on our way to get out and to
- 3:31be able to escape. So the challenge of
- 3:33course is coming up with creative
- 3:34content without overhyping time
- 3:37expectations and thinking that things
- 3:39are about to explode right now. I think
- 3:41we would just look at markets from a
- 3:43process and how they work. We've watched
- 3:45all the processes unravel of going into
- 3:48a bare market. people not being scared
- 3:50of the dip. Thinking that we're still in
- 3:52an uptrend. Then we go into proof that
- 3:55it's been a bare market. However, that
- 3:57was capitulation. This is bottom
- 3:58building. This is recovery. Offsides
- 4:01capital re-entering. Then, as the market
- 4:04has repriced itself, we have to wait for
- 4:06macro to come in and play the game to
- 4:08say, "Hey, we're in a real bull market."
- 4:11In the past, when we've come out of
- 4:12these types of phases, right back here
- 4:14in 2023, we actually sat there for 6
- 4:17months. I don't know if we'll sit there
- 4:19for six months. I don't think we'll sit
- 4:21there for six months, but just to kind
- 4:23of teach you like the anatomy of what
- 4:25recoveries end up doing, we typically
- 4:27have these periods of excitement. Then
- 4:29we go into these periods of
- 4:30consolidation. We see all the same
- 4:33emotions run through the market and run
- 4:35through the crowd with retail investors
- 4:37and social media where right now in this
- 4:39particular moment in time. Pretty much
- 4:42most people are now convinced, hey, that
- 4:44was probably the bottom. But then we get
- 4:46everybody kind of coralled again
- 4:48together thinking, "Oh no, new lows are
- 4:50going to happen." And I know right now
- 4:52you don't see that anywhere, but I've
- 4:55been through so much of this stuff
- 4:56before. That's what tends to end up
- 4:57happening. And it's usually met by being
- 5:00in some type of range throughout in
- 5:02here. Then some type of liquidation
- 5:04comes in and ends the range. And then
- 5:06it's this period where everybody is
- 5:08screaming for lower prices again. And I
- 5:11don't mean to come on here and I keep
- 5:12using that term, be a wet blanket, be a
- 5:15Debbie Downer. When we're coming off of
- 5:16a period of extreme excitement, but the
- 5:18reality is, look, it's probably going to
- 5:20end up ranging at some point. And when
- 5:22it ranges, we go through all the
- 5:23emotions all over again of what the
- 5:25market typically does. And so, right
- 5:27now, it's just about, you know, being
- 5:28ready for that and trying not to be too
- 5:31excited. And that may sound like a wet
- 5:33blanket to say not to get too excited,
- 5:35but it's the things they do at the
- 5:36bottom, too, right? Like during the
- 5:38bottom, it's like, hey, not to be too
- 5:39scared, right? like, hey, when things
- 5:41get exciting, not to be too exciting.
- 5:43It's like trying to keep the equilibrium
- 5:45of emotions at all time and to try to
- 5:48remove them because when our emotions
- 5:49come into play and all this stuff, we
- 5:51end up making really bad decisions. I
- 5:53think we all know that. So, it's just
- 5:54about kind of keeping our cool
- 5:56throughout all of it. Right now, the
- 5:57market's just acting completely normal,
- 5:59right? This is our capitulation level
- 6:01that happened back here in 2025 and 26,
- 6:04right? We came down here in November.
- 6:06Then we ended up breaking. We back
- 6:08tested it. Then we did the liquidation
- 6:10crashing structure touches that new low
- 6:12ricochets. It's really all this stuff
- 6:14that we talked about this moment in time
- 6:16and theorized prior to this happening
- 6:18that we would see something like that.
- 6:20Right? There's the crashing structure
- 6:21with the new low. Shuffling our way back
- 6:23up. Having to work out that whole area
- 6:25in there. It looks fine, right? But of
- 6:27course, you know, this just ends up
- 6:29being a longer range throughout in here.
- 6:30A lot of the exciting action in the
- 6:32market kind of like cools off for a
- 6:34minute. I would rather have that be my
- 6:36expectation than my expectation be that
- 6:38we're going to rocket ship today or
- 6:39tomorrow because I would rather be
- 6:41surprised by rocket shipping today or
- 6:43tomorrow or next week or next month um
- 6:45than be thinking that it's going to
- 6:47rocket ship right now and then be
- 6:48disappointed later. But market looks
- 6:51really just how it should. But frankly,
- 6:53these are some of the more difficult
- 6:55moments in markets because we're not
- 6:56like at extremes, right? like when we're
- 6:58at peaks and stuff, we can identify all
- 7:01these extremes that we're seeing in the
- 7:02market and all these bearish divergences
- 7:04that are happening at the market and be
- 7:06able to say there's problems here. Or
- 7:09when we get to the lows, we can identify
- 7:11all the bullish divergences. We can can
- 7:13identify the oversold conditions and the
- 7:16onchain losses. We can identify the
- 7:18structures and the price levels for a
- 7:21bounce to happen and for a reversal to
- 7:23happen at. But then when we're having to
- 7:25work our way back up, it's much more
- 7:27choppier. Every little move is a lot
- 7:30less predictable throughout here. And so
- 7:32we have to like kind of back off and
- 7:34look at it from just the bigger time
- 7:35frame perspective. And we keep reharing
- 7:38similar terms saying conviction and risk
- 7:41on that. We've marked everything on
- 7:43larger time frames to say, hey, we look
- 7:46good. We look like we've reversed. But
- 7:48it's when we narrow in on smaller time
- 7:50frames, we have to say, okay, but
- 7:51typically we're going to form ranges.
- 7:53These ranges can vary in different time
- 7:55spaces or time lengths. Where do these
- 7:57ranges usually happen at? They happen
- 7:59throughout here. We're going to see
- 8:00emotions. And then what we're going to
- 8:02need to see is we're going to have to go
- 8:04back to talking about the things that
- 8:06nobody wants to hear is go back to
- 8:08talking about those macro elements again
- 8:10when the time comes. Right now, I don't
- 8:12think the macro elements truly matter in
- 8:14this particular moment because we can
- 8:17clearly see this isn't some type of like
- 8:19expansion happening in crypto. So this
- 8:21isn't some type of alt season happening
- 8:22in crypto. Uh we've studied this market
- 8:24tremendously over the past seven years.
- 8:26Next next month it will be seven years
- 8:28of me making YouTube content to
- 8:30understand like alt seasons and when
- 8:32they actually occur. They they occur
- 8:33during expansionary moments for Bitcoin
- 8:36and for macro at the exact same time. We
- 8:38knew that heading into 2024 in 2025. And
- 8:41then when we got those conditions show
- 8:43up there in late 2024, we knew, hey,
- 8:45this is like the opportune time for XRP
- 8:47to do its thing. Sure enough, it did it
- 8:49right on Q. But the Bitcoin dominance
- 8:51tells the story that this isn't like a
- 8:53expansionary moment. This isn't an old
- 8:55season moment. So that you have to ask
- 8:57yourself, what moment is it? And what it
- 8:59is is it's the bounce off the low,
- 9:00right? It's not the expansion or the
- 9:03expansion. It's the move off the low or
- 9:05like I've shown you in past videos like
- 9:07in back in 2015, right? Getting through
- 9:09that 50WE, it's the move off the low,
- 9:11right? And there's the pre-capitulation
- 9:14range that took place in there. And so
- 9:15that if we're going to try to guess
- 9:17where that range is going to stall out
- 9:19at and struggle at, that makes the most
- 9:21logical sense for it to be within there.
- 9:23And then we have to wait to be able to
- 9:24get this thing to be able to collapse
- 9:26and for XRP to be able to send and that
- 9:29it'll likely come with a macro element
- 9:31at the exact same time. And so I get
- 9:32that that we've been like reiterating
- 9:34that for, you know, solid week now. But
- 9:36I still continue looking at it and
- 9:38thinking the same thing. And my my
- 9:39thoughts don't change and it's not that
- 9:40I'm seeing anything different. And I
- 9:42know I come on here and I check in with
- 9:43you guys and you know I could easily go
- 9:45a week or two without saying anything
- 9:46and that that that point would still
- 9:48remain valid. But I do find value in
- 9:50coming on here and looking at it after a
- 9:52couple of days and saying you know what
- 9:53it still looks the exact same. Have the
- 9:55same thoughts. Market looks good. We're
- 9:56bouncing off the lows. We're in the risk
- 9:58on environment. Conviction is going to
- 9:59matter. There's going to be corrections
- 10:01on the way up. However, we shouldn't be
- 10:03afraid of those corrections because
- 10:05we're in a riskon environment
- 10:07historically. Anytime we break the
- 10:0850week moving average, either in 2015,
- 10:112019, 20, and in 2023, when we get
- 10:14through those after a prolonged bare
- 10:16market, it's been a risk-on environment
- 10:17every time. That doesn't mean we go up
- 10:19in a straight line up. There's going to
- 10:21be a lot of ranges along the way. We
- 10:22have to kind of maintain that same
- 10:24perspective. There's likely going to be
- 10:25ranges along the way. What happens when
- 10:27we have ranges? We see the entire
- 10:29sentiment of the crowd change all over
- 10:31again. And so we want to just constantly
- 10:32make sure we're not in in lock step with
- 10:35the crowd's emotions, like the crowd
- 10:37getting really excited, should we go
- 10:39push towards the top of this range?
- 10:41Because then what happens if we get in
- 10:42lock step with that and then we end up
- 10:44ranging throughout here? Well, then we
- 10:46know there's usually a liquidation at
- 10:48the end of the range before it shuffles
- 10:50up. And what happens with the crowd
- 10:52here? They get very pessimistic and
- 10:54scared. And so it's constantly trying to
- 10:56be like one step ahead of that crowd and
- 10:58ahead of their emotions and to make sure
- 11:00we're not getting in lock step with them
- 11:01or at least for me and then
- 11:02communicating that to you guys. I'm
- 11:04excited about the market in general.
- 11:06Like I'm thrilled. Obviously we grabbed
- 11:08or I grabbed uh a lot of crypto down
- 11:11here at the lows after getting out a
- 11:13bunch up here at the top. But I'm not a
- 11:15day trader. I'm not, you know, somebody
- 11:17who's sitting here managing positions
- 11:19every single day or every week. I
- 11:21operate on a much bigger time frame. I
- 11:23preferably I like to hold my stuff for
- 11:25longer than a year so I can get
- 11:26long-term capital gains tax status
- 11:28bracket. And so essentially the only
- 11:30thing I'm ever doing is managing my time
- 11:32expectations at any point. Like when we
- 11:34start moving like this, we start
- 11:36thinking to ourselves, hey, if we just
- 11:38keep doing this over and over, we're
- 11:41going to be filthy rich in no time. But
- 11:44but usually it doesn't move like that.
- 11:46It's going to pause out. It's going to
- 11:47have a couple struggle periods along the
- 11:49way. And my my thoughts are we're
- 11:51probably just going to have one. And
- 11:52it's probably just going to be in here,
- 11:54which will be in conjunction with being
- 11:56in here for the IGV or the eyeshares
- 11:59tech software sector ETF. And then uh
- 12:01once we can kind of get through here and
- 12:03macro really wants to cooperate and get
- 12:05out of that pre-capitulation range, then
- 12:08we go. So I only see one struggle point
- 12:10frankly between Bitcoin's all-time high
- 12:13and where we are right now. And it is
- 12:15that range. And so, you know, it just be
- 12:17questionable on whether or not does it
- 12:18have to come down and hit this 50week
- 12:20moving average or will we watch the 50WE
- 12:23moving average kind of make a turn up in
- 12:25here and come up and scoop us, you know,
- 12:27scoop us throughout here. And that's our
- 12:29patience game. And that's a patience
- 12:31game over there for XRP, too. You I
- 12:33think everybody operates on hopes of
- 12:35time and things like that. And I'm
- 12:37really bad at predicting time, but I do
- 12:39know that we've been in this bare market
- 12:41for XRP since 2024, right? And it's like
- 12:44the you're getting near the end here of
- 12:462026. It was kind of the same uh
- 12:48mistakes that we saw here in 2025 and
- 12:512026 as what we saw back in 2021 and
- 12:542022. You know, we could really see that
- 12:56when we were using Micro Strategy that
- 12:58we saw the exact same thing. While
- 13:00Bitcoin did go and set these new
- 13:02all-time highs in here, we can see with
- 13:04Micro Strategy, where does the peak come
- 13:06in? It comes in here earlier, right?
- 13:08Micro Strategy's peak was set there in
- 13:10November of 2024. And back here in 2021,
- 13:14it was set in February. Then this is
- 13:16just a retrace that happens in here. And
- 13:18this is just a retrace. However, Bitcoin
- 13:20goes and sets a new all-time high during
- 13:22this moment. So, it's like a bearish
- 13:23divergence created. And we talked a lot
- 13:25about this in the thick of this moment
- 13:27happening that hey, look, we we have
- 13:28this confluence with Micro Strategy
- 13:30telling us the same story that there's a
- 13:32problem, the exact same problem that we
- 13:34saw in the last one. and that people
- 13:36won't recognize where we are within the
- 13:39cycle back there in September and in
- 13:41October of last year of saying I don't
- 13:43think people realize the the bull market
- 13:45actually ended back in here. And so it's
- 13:47kind of that same stuff in here that
- 13:49we're so deep into it that this has
- 13:51really been a prolonged bear throughout
- 13:54in here. But the nice thing about
- 13:56Bitcoin and about Micro Strategy of
- 13:58course is we're getting back into lock
- 13:59step where things are operating together
- 14:01again like we saw back in here where
- 14:03we're getting in lock step. But as you
- 14:05can see, like once we come off this low,
- 14:07you know, it just gets choppy until we
- 14:11can actually get into an expansion and
- 14:13macro can cooperate with us. And so
- 14:15we're kind of entering into that kind of
- 14:16like chop grind stuff, which is what we
- 14:19always expected. Like even in our most
- 14:22bullish scenario, we could draw up in
- 14:24here for the market. That most bullish
- 14:27scenario said, "Hey, there would be this
- 14:29chop zone that happens in here before we
- 14:31could expand." All right. If you notice,
- 14:32I haven't even been like presenting like
- 14:34worst scenarios like worst scenarios are
- 14:36where we we do things and we have to
- 14:38really pause out for a long time in here
- 14:41like we saw for XRP back in here like
- 14:44right the whole expectation was that
- 14:45what we would push back up into this
- 14:47area back in here you guys have seen
- 14:49this a thousand times you've seen it on
- 14:50thumbnails you've seen it in newsletters
- 14:52and videos right this one pulls back way
- 14:54down deeper that I'm really not even
- 14:56presenting that I'm really presenting
- 14:58that you know it's looking way more
- 14:59optimistic that we're like actually
- 15:01having the more bullish scenario happen
- 15:04And the more bullish scenario happen has
- 15:05to have this range. And so the grand the
- 15:08grand picture of it all is the market
- 15:11looks really good. The market looks like
- 15:13we're in this risk environment, but it's
- 15:15like we're going to have to operate like
- 15:17emotionless machines throughout in here
- 15:20if the crowd starts getting too excited
- 15:22because there's multiple phases of
- 15:24markets. This is the phase where we
- 15:26repric off the low. Next comes where we
- 15:28establish a range. Very difficult to
- 15:30know how long that range will last. But
- 15:32then after that range is established and
- 15:35matured, that's where we try to go for
- 15:37the actual real one. And so the thing
- 15:39I'm just trying to do is to not get
- 15:40ahead of ourselves on thinking we're
- 15:43pres we're doing the elements that say
- 15:45we're going for the expansion one cuz
- 15:47it's not quite yet. This is just the
- 15:49ricochet off the low. We then have to go
- 15:51through this where everybody's like
- 15:52yelling at each other. And then after
- 15:54that, that's where we try to go for the
- 15:56big boy. We try to take this thing down
- 15:58and we try to get this IGV out of here.
- 16:00So things I'm not seeing in the market
- 16:02right now, right? Like I'm not seeing
- 16:04overly excited markets, right? Like I'm
- 16:08not seeing euphoria throughout the
- 16:09market. Certainly there is greed in the
- 16:12market, but there's always going to be
- 16:13greed when these moving averages are
- 16:15breaking and when prices are up
- 16:16consecutively for months on end, but
- 16:18it's not excessive greed. My guess would
- 16:21be is if we got back to the top of this
- 16:23range, that's where we would actually
- 16:25see some more real greed start to come
- 16:27into the market. And it's hard to
- 16:29measure that. We just kind of have to
- 16:30point it out at the time if we saw it.
- 16:32But I don't think we would actually see
- 16:33it until then. And that I I do speculate
- 16:36there would be a couple elements
- 16:37happening. Maybe we'd get lucky. Maybe
- 16:39we see XRP be able to pop out of here
- 16:42and then establish in that same range
- 16:44that we're talking about between like a
- 16:45buck 70 and 240. Then we would probably
- 16:48see some euphoria happen. [laughter]
- 16:51$1,000 is not a good enough. We need to
- 16:53call for $10,000, right? they would be
- 16:56like, "Okay, well look that $1,000
- 16:59fine.$10,000 that's crazy." But I'm just
- 17:02not seeing it. So otherwise, you know,
- 17:04we look good when the 50WE breaks this
- 17:06market historically has been for buying.
- 17:08Yeah, I'm treating it that way.
- 17:10Definitely selling is not a thought.
- 17:12It's still just about accumulating and
- 17:14waiting for those elements. If you find
- 17:16yourself sidelined, I you know, a lot of
- 17:18times with patience and FOMO and
- 17:20everything like that, what what
- 17:21typically happens with all ranges is
- 17:24really the same story, right? Move up
- 17:26here. Usually once a range develops, it
- 17:29does this thing where we kind of go
- 17:30above the top and then it eventually
- 17:33liquidates down here. This is usually
- 17:35where the best opportunity happens in a
- 17:38range development to be able to grab
- 17:41like what we saw back here in 2023 and
- 17:44back over in here back in 2019. I'll
- 17:47kind of highlight this area right here
- 17:50and swap us over to the daily time
- 17:51frame. It may not look the same as what
- 17:54Bitcoin does, but the concepts are
- 17:56really the same that a range develops
- 17:59and then there's a liquidation that
- 18:00happens here. Bitcoin wasn't as pretty
- 18:02as the total market cap. regardless of
- 18:04like finding support on top of a
- 18:06previous range but the idea is the same
- 18:08that you know it enters a range and then
- 18:11it liquidates and that there's one thing
- 18:13you always look for in the market okay
- 18:15and like I want you to remember this and
- 18:18it may not be important for months from
- 18:20right now I don't know everybody is
- 18:22totally fine with the market ripping to
- 18:24the upside and the market making these
- 18:27big fat green candles coming in here and
- 18:29happening very quickly everybody is
- 18:31totally fine with it however However,
- 18:34whenever there's a candle like this in a
- 18:37range which is super common to liquidate
- 18:39the end of the range and deteriorate
- 18:41sentiment, you will see extreme calls
- 18:44for manipulation. And it's always when
- 18:47that word manipulation is being like
- 18:50spread throughout crypto. That's like
- 18:52the like historic buy opportunity.
- 18:54[laughter]
- 18:55Anger, frustration, screams of
- 18:58manipulation. That's historically the
- 19:00buy window. I'll never tell you when to
- 19:01buy or when to sell. you do whatever you
- 19:03want to do. Markets are risky. You could
- 19:05lose all your money. You know, this is
- 19:06crypto. It's ridiculous. But man, uh
- 19:08there's nothing better than a a crowd
- 19:10screaming manipulation uh as a as a buy
- 19:13signal. It's just the classic classic
- 19:16thing. So, I don't know. I am rambling a
- 19:18lot for a Monday. I think it's just cuz
- 19:20we we have the same things that we've
- 19:22been talking about for the past week or
- 19:23two. Markets have done exactly what we
- 19:25want to see off the low, but I'm just
- 19:28looking at it through the lens of being
- 19:29like, "Hey, man. there's there's likely
- 19:31going to be a range that develops. Can
- 19:33we talk about what the sentiment's going
- 19:34to be like? At the same time, we're also
- 19:36like really ahead of it, right? Like if
- 19:38that if that range takes a couple months
- 19:40from right now, we're talking about this
- 19:41stuff and it could be a couple months
- 19:42until that, you know, manipulation stuff
- 19:44starts happening. Um I think what it is
- 19:46is I'm just really trying to paint the
- 19:48long-term picture. I'm not looking at
- 19:50this thing through the lens of a week or
- 19:51a month and that we're going to be
- 19:53rampaging then. I'm looking at it
- 19:54through the process of being like in,
- 19:56you know, year or two. How does it look
- 19:58rampaging its way up? And what are all
- 20:00those phases and what do they look like
- 20:02to get there? The first phase is to get
- 20:04off the low, confirm all the bullish
- 20:07divergences, confirm those 10.8 million
- 20:09coins and a loss. The next phase is go
- 20:12establish a range and then wait for
- 20:14macro to give you the green light to go
- 20:16for the all-time high. And right now,
- 20:17we're at the phase of getting into that
- 20:19established range and creating that and
- 20:21then waiting for macro. And so if you
- 20:23hated it during 2023 [laughter] of
- 20:26talking about breadth and macro markets
- 20:28and we needed to see this and we need to
- 20:30see that, well, I'm here to tell you
- 20:32we're gonna do it all over again. Um,
- 20:34but if you stuck with the process in
- 20:362023 and 2024, you know that it was
- 20:39right. You know that that's what did end
- 20:41up causing the market to end up ripping
- 20:43and that'll be the thing that we're
- 20:44looking for next. But what we're not
- 20:45going to do is we're not going to sit
- 20:47here and let the crowd continuously get
- 20:49wrongfooted like they have um in these
- 20:52ranges and try to mess with our own
- 20:55emotions and our own understanding of
- 20:57what's happening in the market because
- 20:58this crowd is going to non-stop get it
- 21:00wrong. And that's not to pick on
- 21:02anybody. You just have to understand
- 21:03being in this market for so long,
- 21:05everybody knows it. The general
- 21:07consensus always gets it wrong. And you
- 21:09can always kind of pinpoint where the
- 21:11general consensus is going to have
- 21:12extreme emotions. Extreme euphoria,
- 21:15extreme fear. Then once we go back into
- 21:17a retrace, they get extreme euphoria at
- 21:20the top of a retrace. And then as a
- 21:22range establishes, they get extreme fear
- 21:24and they scream for manipulation. And
- 21:25then we look for macro to take us on our
- 21:27way out. So it's a huge process. We've
- 21:29got to work through it. However, we're
- 21:31in a risk on environment. And I'm very
- 21:32excited. And I'm going to quit rambling
- 21:34at this point. I'll just leave you with
- 21:35this. Today we're going to have the 100
- 21:38day moving average cross through the 200
- 21:40day moving average. That'll be the first
- 21:41time pulling out of here that we end up
- 21:43getting that to happen in 2022 and 2023.
- 21:47Of course, that was it. It had symbol
- 21:48that the market had already reversed. So
- 21:51again, another thing to stack into that
- 21:53corner. There's going to be ranges.
- 21:54There's going to be chop that happens on
- 21:56its way up. But I think we have an
- 21:57established plan to look at it and a
- 21:59lens to look at it through. We're
- 22:00repricing the market right now. We know
- 22:02there's going to be another range at
- 22:04some point that develops throughout
- 22:05here, but after that range, it's going
- 22:07to be looking for macro and looking for
- 22:09the actual real full send of this market
- 22:11to be able to escape into new highs. So,
- 22:13it's nice to see the third consecutive
- 22:15green week close above the 50we moving
- 22:18average. We're back into risk on in this
- 22:20market. It feels good. We'll just kind
- 22:22of take it a day at a time and wait for
- 22:23things to get more clear in regards to
- 22:25ranging and range boundaries and things
- 22:27of that sort. Otherwise, we just kind of
- 22:29keep looking at it through the lens of
- 22:31this is what recoveries look like. So, I
- 22:33hope that you guys had a wonderful
- 22:34weekend. We'll see how this week goes
- 22:36and I'll check in with you, of course,
- 22:37multiple times throughout the week for
- 22:39any type of developments. In the
- 22:40meantime, you can check out the
- 22:41newsletter that I published last week
- 22:43titled, "The last domino has fallen with
- 22:45Bitcoin's move historically confirms
- 22:47risk on. All coins are waking up with
- 22:48giant structure building and the next
- 22:50phase of the market begins." It includes
- 22:52a 30-minute audio recording in here. I
- 22:54record all of these before I publish
- 22:55them. These are like my deep think
- 22:57pieces that I put together that take
- 22:59several days and I do two of them every
- 23:01month. If you sign up for the
- 23:02newsletter, you get access to all the
- 23:03past ones and all the audio recordings
- 23:04that go with those as well. There's a
- 23:06link down here in the description of all
- 23:07of my videos to the newsletter at
- 23:09blockchainbacker.substack.com
- 23:11or you can go directly within your
- 23:13browser. Otherwise, I hope that you are
- 23:15doing well and I want to thank you so
- 23:16much for watching. It's exciting to be
- 23:18on this phase with you guys and to be
- 23:19especially in this particular phase. It
- 23:22was very difficult to say the blockchain
- 23:23backers got your back in September of
- 23:26last year all the way through February.
- 23:28It was a lot easier when we're bottom
- 23:30building to say I got your back. But
- 23:32it's even better to say it when uh price
- 23:34proves it and we bounce off the bottom.
- 23:35Now we just have all the processes to go
- 23:37through to try to get back to the
- 23:38all-time high. So I look forward to
- 23:40going on that journey with you guys and
- 23:42uh we'll stick together throughout it
- 23:43all. But all right, that's it. Thank you
- 23:44so much for watching. If you could
- 23:46please like this video and give it a
- 23:48thumbs up. If you're new to the channel,
- 23:49please subscribe and hit the
- 23:50notification bell so you can be notified
- 23:52of when I create new content and when I
- 23:54go live. As always, this is not
- 23:56investment advice and I am not a
- 23:58financial adviser. But if you ever need
- 24:00a pickme up or a little bit of
- 24:01reassurance, just remember that the
- 24:04blockchain backers got your back. Have a
- 24:07good one.
- 24:10[music]
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