ALERT! XRP LEDGER BUG IDENTIFIED THAT COULD MINT MORE XRP & CHINA'S BIG BLOCKCHAIN PLANS!

Tony Edward (0:05)

Hey, folks, welcome into the Thinking Crypto Podcast, your home for cryptocurrency news and interviews. I'm your host Tony Edward. On your way in, please hit that subscribe button, as well as the thumbs up button and leave a comment below. If you're listening on a podcast platform such as Spotify or Apple, please be sure to follow and leave a five-star rating. All right, folks, we have to start with the price of Bitcoin because Bitcoin closed very bullish on the weekly. We know on Sunday evenings we closed the weekly candle, and we see that bulls took control, and folks, they were able to get the price to close above the key support level because it was the May high of $82,800. So we held that support. That's very bullish because you saw what happened earlier last week, where Bitcoin dipped down to below $80,000 and the bears started celebrating. But markets can fake us out, and we, of course, have not been paying attention to the hourly, four-hourly daily. We've been looking at the weekly chart where the bullish divergence has been playing out and has been telling us the story of where things are headed for months now, right? And of course, per the weekly chart, we have the MACD showing the bulls in full control, the RSI is not in the overbought zone, and the bullish divergence is playing out. If we jump back to the daily chart, the MACD shows the bears are losing momentum. So, we could see this week, Bitcoin start to rally higher. And of course, we're anticipating prices of around $90,000, possibly up to $100,000. Not guaranteed, but there is a probability of that happening. And in fact, you know, I talked about the key support level of $82,800.

Well, Bitcoin also closed above a key Fibonacci level of $1.272, that level, which is at $83,558.

The next level up is $1.414, which is $91,158.

And then the $1.618, golden ratio there, right? Which is $102,078 or something like that.

But no guarantee it gets there. But the point is, we're holding the key support levels. And the bears should be scared right now because they keep falling for the traps, right? They keep loading up those shorts every time the market pulls back because they're anticipating 4-year cycle timeline stuff when you should be going off the chart data. So very bullish close to the week, very strong. The bulls took control here. And as always, as Bitcoin finds strength, it will start to move higher. And so will the rest of the market. The altcoins will follow. We've seen this in phases, right? So Bitcoin had that big move up. If you guys recall the end of August, then all of a sudden the altcoins started following. So as Bitcoin has another big move up, we could see the alts follow. And I believe that's what's going to happen as rotation of liquidity takes place. And of course, we've been tracking the USDT stablecoin dominance, because that tells the story of the liquidity that's making its way into the market. And there's still ways for that to go before it becomes oversold. It's still in a bearish momentum on the MACD. This is on the weekly standpoint. Once this flips bullish, that means that crypto is going to correct and liquidity starts to make its way back into the stablecoin. So that's just how it works. That's the inverse, right? These are not the only metrics we should be looking at, but obviously these are the strongest ones. So we've been using these as the benchmark and they've been playing out according to how we've been tracking it. So once again, very strong close at the end of the week. And let's see what this coming week brings us. Now something else that's very fascinating and confirms the bullish rally in the bull market we've turned into is that Google Trend data shows by crypto search volume has started to move up again. So these things happen when we've entered into a bull market. And it's not at all time high, so don't get me wrong, but it's starting to trend upwards. So again, you have a lot of confirmation here of the transition from a bear market to a bull market. I believe the lows for the bear market were hit in the summer of $58,000 for Bitcoin. And we've turned a corner and have started an uptrend. But as mentioned, it's just the first inning. We are very early. There will be corrections. There will be boring sideways chop periods where it's like, people are going to be like, what's going on? Is the bull market over? Because that's just what markets do, right? They want to shake you out. The market makers know how to play the game. So you have to learn all these principles and these things and look at the data and not be emotional about the markets. Because again, the market makers and these folks, they want you to be emotional. They want you to feel fear and dump, and they want you to feel FOMO and buy. You do not want to be like that. You want to be buying when everyone's fearful and starting to take profits when people are getting greedy and bullish, and there's a lot of green candles, right? So just keep that in mind, guys. It's something you have to learn. I had to go through that process, and it did take years, but now I get what's happening. Now, even the same thing can be applied to the stock market and other markets, as long as you know how to read the charts and the sentiment and these different metrics to get an idea of where we're at and where we're headed. Now, folks, quick word from our sponsor. This episode is brought to you by Kalshi. You probably know Kalshi for prediction markets, but now you can also trade crypto perps with a free $25 bonus. You can trade on crypto up or down with up to 6x leverage, meaning you can put down $100 and control a $600 position. And the big one for us in the United States, it's the first CFTC regulated perps exchange in the country, which means no VPN and no offshore nonsense to deal with. To claim your $25 bonus, all you have to do is make your first $50 trade through a special Thinking Crypto link, which is kalshi.com/p/thinkingcrypto.