Bitcoin And Gold DUMP - Do THIS Next

**Unknown** (0:00)
This is Discover Crypto. We have a huge show for you today. We have Hyperliquid signing a major, major deal. We have an XRP Treasury Company filing to go public. We're going to talk about what does that mean for XRP's token and for the XRP token holders out there. Major escalation with Liquid Natural Gas Facilities being bombed, and we have Bitcoin's reaction to the Fed minutes yesterday. And I'm joined here with Drew. Drew, how are you doing? I heard, do you have some trades open? I heard you've already done very, very well this morning.

**Drew** (0:28)
Yeah, I mean, it was a stop out in profit. I am snooping around the low 69K realm for this to be a spot for turbulence. I'm checking it out on Bitcoin right now. We're trying to defend ourselves, but the market's just open. Lots of volatility, and I think the natural gas might be the conversation of the day, but Bitcoin, it's trying to defend itself.

**Unknown** (0:52)
It is trying to defend itself. It is trying to create a higher low here. Let me show some of the charts that we've been talking about. Now, one, we did have the head and shoulders. We talked about this yesterday. We made a prediction. Hey, you know, look for a little bit of a relief bounce around this area. Let me go ahead and make sure I had a log on there. Then move this just to see that the target, the natural target here, target played out. However, what do we see after that? We started to see a bear flag form, and you can see the flagpole right here. You can see the pennant also forming right here.
And then we have another downside target. If the bear flag continues to play out, we might get some support before then. I'm not saying it's guaranteed by any means, but this could push us even lower for Bitcoin. It's going to be right around $68,000. That's what we're seeing on Bitcoin, seeing a little bit of short-term bearishness. But Drew, Zoom out even further, and what do you know? You see another potential trend. That's what I'm looking at. Not quite there.

**Drew** (1:50)
I know. It's like we're getting close. RSI has reset to the lower spectrum on the S4 hour. And so it's not that I have this clear confluence that we're going to be able to bounce from here, but there's a lot of volume that we're sitting right above. And now that I've seen basically a lot of the scarier news events kind of priced in gold with a major pullback, silver with a major pullback, I can see some flows in the ETFs. You know, they've been doing well in terms of Bitcoin over the last few weeks. So we're seeing the action kind of come back to Bitcoin as I'm seeing this huge pullback. This pullback on gold is trillions of dollars that's leaving the gold market cap. It's got to go somewhere.

**Unknown** (2:34)
Yeah, we have a couple levels of support. It looks like we might be losing this support right here. You just see this kind of where we calmed down. First had a little bit of consolidation, a very important higher high that we created after this huge bearish engulfing candle. We're going to talk about gold. We're going to talk about China. We're going to talk about Wall Street's impact on gold. It looks like Wall Street might be selling into retail here. Let's zoom in a little. Let's go to the one hour, and you can see the bull's trying to defend this level, trying to push it back above. And interestingly, WIC right there. That's probably pretty recent here because, oh yeah, I drew this at least an hour ago, and you can see it came down to this level. And I'm not, again, you know, not DZ Strom is here, just looking at this previous point of control. I would say the next area to pay attention to is going to be this level. You can see very, very strong confluence here, rejected off here, rejected, then turned it into support. So I think this can potentially play out as support again. So if we dump, I would look for gold around $4,400. Now I heard Gareth Soloway, some call him Bear Soloway. Gareth has a even lower target. His target is the upper range right here. He said he is a heavy, heavy buyer at $3,500. I don't know if you guys think it can go that low, but maybe just another target to pay attention to over here.

**Drew** (3:50)
Yeah, that was the target we were talking about yesterday. It's the kind of a bull flag shelf that gold created for itself before the major move up into the $5,000 range. And yeah, it's pretty clear. If it loses this, because what goes up fast comes down fast if it's not able to hold those support levels.