Bitcoin Nears $82K But Most Missed the Bottom - Here’s What to Do

**Scott Melker** (0:00)
Hello. Look what TJ Maxx dragged in.

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**Scott Melker** (0:31)
Bitcoin neared 82,000 American dollars overnight before retracing, and seemingly from reading my X feed and comments, most people missed the bottom. The good news is that we have two consistent guests on Tuesdays who can tell you exactly what you do when you miss the bottom. And we have another special guest. We've got Avi Feldman from 1000X Media here to join us. I have a feeling today is going to go off the rails, as has become tradition on Tuesday. Looking forward to it. Let's go.
Good morning, everybody. Happy Tuesday, and welcome to my intense trading setup here in Singapore. That is obviously real in the background. I'm going to go ahead and bring on Avi, Andrew, and Tillman. Good morning, gentlemen. I feel like Avi is muted. I feel like your background is real.

**Avi Feldman** (1:39)
Good morning.

**Scott Melker** (1:40)
Good morning.

**Avi Feldman** (1:41)
Yeah, my background is actually real. This is my office that I got over here. It's good. You need somewhere to be inspired. And I was working from home, and it was just the worst thing ever, so.

**Scott Melker** (1:50)
Well, I'm feeling very inspired by the market right now. Bitcoin obviously was trading in the 60s for 47 years.
Unable to break out, unable to make any meaningful progress, and here we are. Andrew Tillman, I think it happened pretty much like, you know, within a day of us being here talking about the endless range last time. I can't recall if it was Tuesday, though, where we talked about, you know, VanEck saying eight of their 12 bottom signals were in, and we talked about these endless signals. By the way, if you want the best bottom signal, this is the most important story that's happening right now. I just want to bring it up and get it out of the way. It's not there, is it? I'm on it today. It's that the owner of the miners tried to buy $140 prostitute in East Palestine, Ohio at a trailer park.

**Avi Feldman** (2:38)
I mean, wow, yeah, that's really important. Thank you for bringing it up. You're welcome.

**Andrew** (2:43)
Stupidity knows no bounds. You know what I mean?

**Scott Melker** (2:46)
I just want to make obvious, uncomfortable as possible straight out of here.

**Avi Feldman** (2:49)
This is what we talk about on a thought. No, that's not it.

**Andrew** (2:52)
By the way.

**Avi Feldman** (2:54)
Mainly, we talk about markets and you know.

**Scott Melker** (2:56)
Okay, we're going to get there. Okay, we are going to get there. I would just like to say, as an aside, yesterday I played that video of Sailor.
Oh, you guys saw that meme? And I was like, Mike McGlone, you know, because I get a copyright strike, so I got to make sure it's worth it. He was like, that was derogatory to women. Let's move on. And I was like, wow, we really hit it today.

**Andrew** (3:16)
Oh my goodness. Because it's the other word, bitch.

**Scott Melker** (3:19)
So there was that. All right, Avi, what are you thinking about the market, for real?

**Andrew** (3:22)
Oh man, I don't know.

**Avi Feldman** (3:24)
There are a lot of thoughts going through my head right now. But basically, look, the main thing that I always think of when I look at Bitcoin is if it doesn't go down on bad news, that's a really good sign. And that's basically what we got, the entire 47-year range that we were looking at over the last few months, is that everything, all the news that came out that could have sent it lower didn't. I mean, Michael Saylor basically almost blowing up on stretch didn't send Bitcoin lower. We tagged 58, we were back above 60 in a few days. You had all of these things happen in the markets, like the memory trade imploding, you had NASDAQ come off 10% from the highs, Bitcoin stayed where it was. It basically just shows you that you have to really pay attention to flows, because Bitcoin is just a flows trade. At the end of the day, that's all that matters. And so what do I mean by that? I mean, look at who's selling and look at who's buying. And the sellers are normally comprised of people that are up on their positions or down a significant amount on their positions. And when you get a long range where it churns and doesn't continue to go down, you reduce the average price that people are holding. And when that average price comes close to the current price, that basically means that they're probably not going to be any more sellers left. And so what you look for is you look for things that are going to send it up. And what really stuck out to me was gold. When gold started to trade well off that 4,000 base, which is also a completely flow based trade, you had the Korean Central Bank start buying again, you had China stop selling the shore up reserves, it just set up a really good environment for what we're now experiencing, which is the debasement trade.