Bitcoin's BIGGEST Risk! (Prepare for Crypto Chaos NOW)

**SPEAKER_1** (0:00)
Welcome in to Discover Crypto. Holy cow, what a Friday, what a week it has been.
We have some situations on hand. We have insiders of major ETF holdings of BlackRock dumping Bitcoin again, preparing potentially for a major announcement from Trump today at 1.30. But as that's happening, the S&P 500 is trying to fight back, trying to stop the bleed. Very interesting sign that Bitcoin actually might be trying to defend itself at this local 60K region. All this while CZ is hitting the podcast circuit with a foundational threat to crypto. We have to discuss on this channel major updates from the Clarity Act. It's a jam-packed news circuit today. I can't even keep it all together. There's a lot going on. We're going to be going into this understanding what to expect as we go into the weekend for the markets. And I wish you all a happy Friday here. Thanks for joining me on this wonderful live special broadcast. I'm feeling good. It's Friday. I'm feeling frisky now on the broader markets right now. Things aren't looking too terrible. We have Bitcoin coming back and hitting around $59,800, but it did tap the 60k region. But I want to remind you before I get too deep into the news, too deep into all of this information that I'm about to give you is that bear markets create strong portfolios, and those strong portfolios can create great profits if you take those profits off the table, right? But then good profits turn into weak order books and weak order books create the next bear market. That's the situation we're in right now. Just keep that in mind. Don't get it too ahead of yourself. If you see slight increases to these prices, we are not out of the woods yet or woodwork, as some love me saying. Bitcoin coming in at 59.8, Ethereum at 1,500, but the scary part here is that Tether has actually flipped Ethereum towards market cap level.
BNB showing a little bit of pump at $561, XRP riding the line at $1. But I did come across a pretty interesting newscast that was talking about Bitcoin today. It was actually CNBC. Now, obviously, mainstream media is no friend to me.
But this is kind of an interesting snippet here. So let's go into this and make sure to let me know if the sound is working or not. Turn on my sound and make sure we're all cooking. But this is basically CNBC discussing a long-term oversold condition for Bitcoin. Let's get into it.

**SPEAKER_2** (2:40)
Strategies founder and managing partner and a CNBC contributor. I'd like to talk about a lot of different things, Kate, even gold. But let's talk first about Bitcoin because 59,000 for months has been something that you said was important. And this is how many times have we seen it test 59 as a support?

**SPEAKER_3** (2:59)
This is probably the third test.

**SPEAKER_2** (3:01)
Is it going to hold? And if it doesn't, I was talking the other day about if it didn't hold. And it wasn't you, I don't think, but someone told me some terrible number about where it could go.

**SPEAKER_3** (3:10)
It's not to say the bottom drops out, but the next support, the next major support, we're talking low 40s.

**SPEAKER_2** (3:19)
I heard someone say even worse than that.

**SPEAKER_3** (3:21)
That can't be unheard of for Bitcoin, knowing the volatility, it's down about 30% after failing, right at that 200-day moving average. It was almost perfect right there as resistance. So that continues to be resistance. It's obviously trending lower.
The good news for Bitcoin traders or investors is that we have a long-term oversold condition, and it's been in place for a duration at which it usually starts to impact the chart. So we're looking for stabilization. Ideally, it does happen in this range because it is a key Fibonacci retracement level below which oftentimes a full retracement happens. So we're hoping to see it. 60,000 is also a key level as well.

**SPEAKER_1** (4:04)
Pretty interesting to hear the based approach that this lady has on the market. It's actually a pretty good technical analysis. And essentially, the main thing that I want to get out of that and kind of emphasize here is that you want to see the markets stabilized for at least a few weeks before really kind of acknowledging that you might actually be looking at the bottom. Now that we did have that moment at 60K recently, but the recent candles have really been cutting through. Just to show you what I'm talking about, I do not trade Wall Street Hours at all. I like trading Asian Hours for sure. Now opening up this morning, we do see a slight rally. You know, very sharp pullback. Essentially, these are 3% moves to the down and upside. So there's a 2.5% downside. This is liquidating a lot of different positions that are trying to get longs or shorts in early market hours. The main thing that I'm looking at as well is on the weekly timeframe. Now the weekly timeframe and the 200 moving average, essentially, the accumulation zones are under this moving average. For the best entries, I always have to make sure that the hammer time is at or below this entry point. And that's for the best entries. And I might have a Discord open here. Let me see. Got a bunch of... Discord's kind of going on fire right now. I'll close that up. These are kind of the entry points that I'm looking. It's where we break below this moving average. Obviously, the price of produced Bitcoin, I highlighted that yesterday in a bunch of other metrics, but this moving average oftentimes does represent a very, very good opportunity in the markets.