🚨Bitcoin Bottom Confirmed ($74K Next?)

**Drew** (0:00)
Good morning and happy Wednesday. Welcome to Discover Crypto. We have some major, major changes on the Bitcoin ETF flows that have started to show themselves on the Bitcoin charts with a key level I highlighted earlier in the week actually playing out on Bitcoin right now as we're entering the final stages of our chances to see the Clarity Act go through. We're gonna take a look at is this even possible still? Some very unexpected names came out in support of the Clarity Act, and Ripple and XRPs nemesis Jay Clayton just took a position, one of the most powerful positions in the US government. Is it over for the XRP bros?
Welcome and joined here by Mr. TJ on the sticks. How are you doing good, sir?

**TJ** (0:45)
I'm doing good, doing good. Another beautiful day to be in crypto.
Yeah, it's in another beautiful day to not trust the government, I guess you say. I mean, Clarity feels like, I mean, they're gonna vote on it, I guess. We're gonna talk about a little bit later in the show. Feels pretty dead in the water. You got everybody out there saying the Democrats suck. You know, that's a pretty good sign to say that way. You're not getting the job done. Yeah. So you play the blame game, point and blame all that sort of stuff. But the market's actually looking surprisingly strong. I'm gonna talk about a little bit. We got somebody in school sharing, you know, Austin, he's been a star in school sharing what something he noticed on the ISM PMI relationship to the Bitcoin price, which we've talked about a little bit on the show, but it is the manufacturing index is something I like to keep an eye on as it relates to the markets and looking strong across the board. We got some viewpoint levels to look at. And a lot of people didn't like my call saying that the bottom was pretty much in at $58K and thought I was crazy. Had it heard everybody calling for $40K and these really, really, really low numbers and they're all slowly starting to come back around towards towards my point of view slowly now, which is actually funny because TJ went to 57 seven.

**Drew** (2:00)
So that's what you're doing. And you're never going to live that down that week.

**TJ** (2:04)
Yeah, that week. I'm sure people will call, you know, like it went lower than what I said. But, you know, I was pretty loud and pretty out. You were not far behind me, but most, you know, I was definitely out on an island saying that I thought just under 60K was the bottom. Everybody else was calling for lower lows. We're not out of the woods yet. I can't take a victory lap yet. It's just interesting for people. You know, anything's possible. Yeah, here you go.
Yeah, there was a lot of 40Ks. I mean, there was numbers in the 30s.
So we'll see. We'll see. I just think, you know, like anything's possible. I can't predict the future. I just was saying, based on my experience of bear markets, it felt like a bottom and it still does. It feels like we're strengthening off the bottom now where doesn't seem like bad news can, anything can affect Bitcoin all that much. So we'll see. We'll see where it goes. We're still, again, not out of the woods. There's everybody that's asking for that last flushout is saying September, October, you know, I think Clarity not passing is pricing. I don't think that'll really have any impact on it. You know, we've got other three-letter agencies saying that they're going to take the reins. But yeah, what do you got? What do you got on levels, prices, and then we'll look at the overall coin market cap.

**Drew** (3:14)
Absolutely. So, you know, for the bears, if you're looking for a price rollover right now in crypto, there is a liquidity pocket for Bitcoin in which longs would be liquidated to a very sharp degree. If Bitcoin were to fall down to the $61,500 level, there is a magnet below us for Bitcoin's price. But what's happened is the daily green dot has continued to play itself out. We are seeing the VWAP get a little bit sharper to the upside. So, you know, over the course of Friday, you might see this VWAP start to pander, kind of patter out. RSI is continuing to move to the upside on the daily, though, as well. And it's trying to recapture and move above the 50 mark, which is something very, very key on the underlying indicators to watch. So, the lower target, and where I have a really good conviction for longs, is right around that $61,500 mark. Generally, flows are moving to the upside. But there are some key levels that the bears are looking for right now. And the local level, kind of right above our head, is around $65,500.