BITCOIN PUMPS TO $75K DESTROYING BEARS! XRP LEDGER LENDING IS HERE! ELON MUSK'S X STABLECOINS!

**Tony Edward** (0:04)
Hey everyone, 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. Well, folks, the pump continues. Bitcoin this evening crossed $75,000.
Once again, it is now definitively over the 200-day moving average. As you all know, when we are above that moving average, definitively we have the supports and all those things. We are in a bull market. When we are below it, we are in a bear market. So this is a very, very positive sign. The MACD on the daily chart shows the bulls are in full control. However, as I mentioned in yesterday's podcast, the RSI is in the overbought zone, extremely overbought, where it's turning green.
Many of you know the inverse of that is when we are oversold and when we go below 30, it's extremely red. So you're seeing the opposite here. But it doesn't mean there has to be a major sell-off. What we want to see is that we do have a pullback because markets don't move up in straight lines. We pump, hit resistance, pullback, build support, pump and breakthrough to resistance, and so on and so forth. So we're looking for some sort of pullback soon that will build support around $67,000 to $70,000.
And again, we have to close the weekly, the monthly and all these things above that 200-day moving average. So this looks really good, guys. And I'm not saying that we are officially out of the bear market yet because I still need more confirmation. Markets can fake us out. Market makers are looking to fake people out, right, guys? So please understand, this could be a big-time bull trap or fake out. Now, if we're talking probabilities, I don't think this is a fake out. I think this is the slow, steady turn out of the bear market back into a bull market. Doesn't mean we're going to new all-time highs immediately. But the reason why I believe that is on the weekly chart, we have that bearish divergence, similar to what we've seen at previous bear market bottoms. We just need further confirmation and time will give us that. Now, I know there's a lot of people who are using time-based theories saying we must find the bottom by October or November. But that doesn't have to happen. We have to look at the charts, right? What is the data telling us, the entree metrics and the charts? And again, this bullish divergence is a very strong signal that I believe outweighs the time-based theories out there, especially as you see the MACD has flipped bullish and the price is increasing. So it's looking pretty good here.
Even total three, which is the Altcoin market excluding Bitcoin, Ethereum, and Stablecoin. So those are out, has broken through the 200-day moving average. And similar to Bitcoin, its MACD is in full control by the bulls, but it is overheated. It's in the overbought zone. If you look at individual altcoins like Ethereum, they have also done the same thing. You look at XRP, also, well, it's knocking at the door of the 200-day moving average, but it looks like it's about to break through. Solana has broken through. So this is what you want to see. Again, we are turning the corner away from that bear market. But again, we need further confirmation because we need to see the support levels built to continue higher because this could easily, easily, you get some bearish narrative and something, it just rolls over, right? And it could be a massive fake out. The markets can do that. So this is why I'm stressing that you need, we need to be patient here. We need further confirmation, but we are seeing very positive signs and a lot of bears are getting liquidated and wrecked right now. I mean, it is insane, right? Because this is a very strong move. So all the bears who are getting super greedy, calling 30,000, 20,000 getting destroyed. And I see a lot of them are crying and whining and getting angry. And you could just tell, it's like the saying, tell me you got liquidated without telling me you got liquidated, right? You just see the emotions coming through. But as I've been telling you guys, we want to look at the charts, the on-chain data and more and look at the facts, not our feelings, our emotions. We want to check those at the door. And you want to have a good dollar cost averaging strategy. I've been telling you guys for the past month that I've been accumulating Altcoins. And I'm pretty much going to be executing the majority of my Altcoin buys this week, even if we have that another flush down, right? And that's a probability. I don't think it's a high probability, but it is one.