Bitcoin BREAKS Resistance! (Fed Inflation Fears CANCELLED?)

SPEAKER_1 (0:00)

Welcome in to a very special episode from the Homestead on Discover Crypto. Hopefully, you've had a fantastic beginning to the week. We've had some crazy price action for Bitcoin. How incredible PCE data coming out, inflation data coming out, and Bitcoin rose right as this data released by about 2%.

Since then, it ran into resistance at $85,600 and is trying to defend the midterm of this general trading channel that we've been kind of bouncing back and forth in between since about September 23rd. So with that being said, very vicious candles on the 15-minute time frame. The one minute is getting crazy. We are gonna be having to watch out for a potential entry point in that trading plan. We didn't quite get to my more exciting short level of around 87K. Very, very close to, on the way there, but just got stopped out just before we got there. Couldn't hit the $86,000 market. Right now, you know, the very value area low is sitting right around 82,800. Value area high, if you're counting this entire trading range that we've been developing for the last week or two here, essentially, value area high landing at around $85,000. So, this is the time where I had someone ask me in the chat, am I worried? I am worried about those that are on the sidelines because I have some incredible information about the altcoin sector that I'm excited to release to you today, and a lot of data coming out that we got to pay attention to. So, I already covered the Bitcoin price. I will be bouncing back and forth between Bitcoin price as this volatility plays out to see if maybe I can get a little tasteful long with controlled leverage right around that $83,888 level here. So, hopping into the coin market cap and the setup, I am seeing some movement still within these altcoins. Quant rose back up to about $300.

The people who held Quant through that consolidation range deserve every ounce of this pump. Quant is up 300% over the last seven days. Midnight, making some moves at 3.7 cents. Again, up by 18% and up 60% on the week. This is some good, very good price action actually for a privacy token, kind of a privacy narrative play from the Cardano community. Layer zero, up by 3%. Near protocol dipped slightly below $4, or slightly below $5, momentarily, but is showing no chill. And even more news coming out of a near protocol. It just keeps pouring on the news here, and we are getting ready for our call today in the school community.

So, spot versus leverage playbook. Me and Kelly are going to be going live in school, laying out the groundwork and the mindset of how you look at spot positions versus how you look at leverage positions to maximize our gains as things move forward. I do believe the quant, trading quant within the school community is looking a little bit short on one of my favorite projects right now. So, I'm going to be watching out for this. But I got my copy trading going, and I am currently in a hyperliquid short. So, I set the stop up on that, adjusted it myself after the copy trade signaled, and I will be releasing this over the course of the next few weeks to the community. Just want to make sure that those stops come over effectively, keep everyone in the green. Now, let's look at the top news here. BitGit hackers moved $4 million into Zcash private pool, making funds harder to trace. So, we see a little bit of movement into Zcash Zika system from these wallets, links to the BitGit, nearly $400 million hack. They moved about $4 million into Zcash, into the crypto private payment system on Wednesday, making the stolen funds harder to follow. Other top news, and actually, you know what? I may as well hop on over to the DC Data Hub, because I know that we have a good rundown on the market pulse, but there's a lot of big news coming out in terms of PCE inflation data, right? So, core PCE is much, much cooler than expected. Preview, the PCE, 3% month over month expectations were a little bit higher. They were thinking inflation data was going to be a little bit higher. I love the reactions to this. There's no inflation, because we doctored the numbers, right? We have diesel going ballistic right now.

This is Rory Johnson, a great account to follow if you want to keep kind of up and up on what's actually happening in the world outside of our skewed data system.

The Middle Eastern oil exports are much higher over the past two months at a great cost. No, we are not back to normal, dear lord. This is the reality, but the markets are liking these print, but some of the reality of the diesel price increase might be playing in. And I actually, one of my more insane things that I found this morning, when just going over the general charts in the world economy right now, is the gold chart. I have some very, very interesting data to bring you on the gold chart. It's right around $4,200 an ounce right now, but I'm seeing something very similar happen on the gold chart that's got my eyes perked. And also, just a quick shout out, I had, and a correction, so I have put red pepper and oregano into the chicken food, and they are absolutely printing.