BULLS IN CONTROL! BITCOIN HITS $87K, BIG XRP & ETH PRICE PREDICTIONS! GOOGLE & APPLE CRYPTO HIRES!

Tony Edward (0:05)

Hey, folks, 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. Okay, folks, we have to start with the price action. We've been seeing from Bitcoin and many altcoins are starting to wake up. So, Bitcoin continued its price surge. It touched $87,000 today. Once again, it broke that key resistance level of $82,814.

If we round it up, we will say $83,000, so that's very important. That was the resistance level from back in May. So we are officially back in a bull market. Now that does not mean we're going to go up in a straight line, as you all know, right? The market moves in cycles. And in fact, Bitcoin entered the overbought zone on the daily chart. So we're starting to see a little bit of a pullback. At the time of recording, it's at $85,507.

Now Bitcoin can hang out in the overbought zone. And I think it will do that after this pullback. And then we could see a move up to $90,000, possibly higher. Maybe it overextends and goes to $100,000. So we'll have to wait and see. On the daily chart, the MACD has officially crossed bullish. It is now in full control by the bulls. So that's a very good sign. Now if we zoom out on the weekly timeframe, which is what we've been looking at for months, the bullish divergence continues. The RSI has officially broken out from the downtrend. And the MACD shows the bulls are in full control. Now as highlighted in yesterday's podcast, Bitcoin has reclaimed the 50-week moving average. Here Analyst Blockchain Backer highlighted the chart.

Cohen going back to the previous two cycles, and he tweeted, Happy 50-week moving average break week. So we've broken through and historically, that pattern has led to a continued uptrend. Now, does that mean we go up in a straight line? Of course not. There's volatility. Markets become overbought and then they dump, right? But what we're looking for is higher highs and higher lows. As long as you maintain the higher lows, then you maintain the bull market structure.

As we've been talking about for months, Bitcoin has been following a Wyckoff accumulation schematic and it is playing out to a T.

Again, we could see this final phase take us up to 100K potentially. That's not guaranteed. It could just top out maybe a 90K or 92K and then roll over to test some lows again.

But again, I think the bottom is in, so we would maybe go down and test, let's say the 70,000s. Here, one analyst used the fractal. It shows that Bitcoin tops out around 92,000 dollars. It pulls back and then it goes down to test around 70K, and then we continue higher as we head into 2027 That's certainly possible. It doesn't mean that it's guaranteed or must play out like that. But these are things you want to think about and we want to look at the metrics.

But again, the big picture though is that we have turned a corner from a bear market into a bull market. In fact, you saw a lot of the bears and the skeptics, people like Benjamin Cohen and others who have been saying, oh, we must touch a new low in October and all these things. They've come out and said they're wrong. So we're seeing a lot of capitulation in the multiple fronts. Now, something that's interesting, the average Bitcoin ETF holder is now back above water for the first time since January. James Seifert of Bloomberg said, this rally this morning has Bitcoin above our estimated ETF cost basis of $81,722 per coin. So very interesting. You're probably going to see a lot more inflows into the BlackRock Bitcoin ETF and the other big ETF. So things moving in the right direction. Now, if we look at the higher time frame beyond the weekly to the monthly, that looks very bullish. It's looking really nice, guys. And you see, many of you watching on video, you see I have a big smile because I've seen this picture before. So the RSI is in a complete uptrend and the MACD is about to flip bullish. So bears are losing momentum really fast. So again, the higher time frames have been huge signals and huge confirmation, right, which we've been tracking for months. And of course, the USDT dominance continues to break down. So the stable coin liquidity is making its way into the crypto market. So we have confirmation of this move from multiple fronts. So on the weekly bearish divergence is continuing to play out here. Now altcoins are looking very bullish as well. I believe as Bitcoin starts to cool down, you're going to see the liquidity rotate over to XRP, Ethereum and many altcoins, and they're going to start to move. So if we look at the XRP chart from a weekly standpoint, bulls are in full control, put a MACD and the RSI is in the neutral zone. So there's room to run here before XRP becomes overbought.