ARE YOU READY? THE CRYPTO BULL MARKET IS HERE! BITCOIN & ALTCOINS TO SURGE!

**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. Are we in a crypto bull market? Well, the scale is tipping towards that thesis, guys, because we're seeing a lot of positive chart movements and signals, and it's all facts. It's not feelings and emotions, not just because the price is pumping, but what are the key levels, and what are the indicators that are flashing, right? So today, Bitcoin, it pumped up to $80,000. It is above the 200-day moving average. That is signal number one. That's one the bears don't want to mention to you, because I've often told you guys, when we are definitively over that 200-day moving average, we are in a bull market, when we are below it, we are in a bear market. You can look at this moving average on the stock market, on other crypto assets, Bitcoin, gold, you will see the same thesis playing out, right? And Paul Tudor Jones, I believe, famously said, nothing good happens below the 200-day moving average. So we're above that, and many altcoins are above that. Even the total crypto market cap is above that. So in the daily chart, the bulls are still in control, but the MACD is turning light green. So it looks like the bulls are losing a little bit of momentum. That doesn't mean that we're about to sell off because the MACD lines here haven't crossed bearish yet. But it's what I've been saying, that the market is overheated based on the RSI, which is, I mean, right now above 80 on the daily chart. Super overbought. So you can anticipate some sort of pullback. Now this is where I want to see what this pullback does before I can definitively say we are in a bull market, even though there's a lot of factors outweighing what the bears are saying. But just from my own personal conviction, I want to see when Bitcoin pulls back, what support level does it hold and bounce off of? Because there could be some bad news that, for example, the Clarity Act doesn't pass in September, and that drives the price back down to lower lows. It is possible. You can't rule it out. Although I don't think it's a high probability of that scenario playing out, it's still a possibility. So we have to make sure that we keep our expectations in check here and get the confirmations we need. But overall, things are looking great. I mean, if you go to CoinMarketCap, there's a lot of green here. When you look at some of these coins from a 7-day perspective, you see some incredible gains. Like Ethereum is up over 31% over the past 7 days, XRP up over 50%, you have Solana up over 33%.
It's looking really good. I mean, Zcash, geez, I wish I had some Zcash. It is up over 62% over the past 7 days. So you're seeing a lot of liquidity hit the markets here, guys. It's really, really great. Now the weekly chart, which we've been heavily focused on as one of our major catalysts, is flashing a huge signal. We know we've been tracking the bullish divergence. That's playing out beautifully. The MACD shows the bulls are in control. And today, today, guys, the downtrend of the RSI has broken out. So the RSI broke out of that rejection on the downtrend. It has broken out. That's a very positive sign. And that should scare the bears a lot. That should give them nightmares, guys, because even if there's a short-term pullback, this thing is signaling it wants to go higher. And then when you look at the higher timeframe of the monthly chart, it also looks good. The RSI is moving upward, just like it did in the previous bear market bottoms. So it stopped the downtrend. And MACD shows the bears are losing momentum, the red candles are getting lighter and lighter. So if you know how to read these signals, and I highly recommend you go research them because they apply to stocks, they apply to gold, you can look at them on those respective charts. They really help you to get an idea what's happening and what's to come.
Obviously, nothing is guaranteed because markets are volatile, they can move based on negative news and things like that. But overall, if you use these signals as a guide, it can help you get an understanding of which scenario has the higher probability of playing out. And guys, look at this beautiful, beautiful green candle on the monthly chart for Bitcoin. So things are in our favor.