CLARITY ACT VOTE TODAY: 9 Democrats Hold the KEY

Drew (0:00)

Welcome to Discover Crypto, where we live in a pressure cooker right now, folks. We have a week of crazy price action ahead of us. Starting off today, we have the Clarity Act Closure Vote, which is a discussion happening within the Senate right now. There are nine Democrats standing in the way of this crypto clarity moving forward, and the battle of the century, getting ready to unwound itself as the Federal Reserve interest rate meeting comes up tomorrow. It's going to be a crazy day in the markets. Already proven to be a crazy day for Bitcoin. Shout out to Trump, as we tested the bottom end of this value area low this morning. He comes out with the loving tweet here.

Talking about the United States, President Trump says that the Supreme Court tariff decision will cost us trillions and trillions of dollars. He does this right as the market's opening here, makes us really test our gumption at the bottom end of this trading channel that we've been in for a little bit of time on Bitcoin, getting very close to breaking lower and finding out where that actual support is. But all that being said, I have all the support I need. Mr. Kelly Kellum on the sticks here. How are you doing, Mr. Mann?

Kelly Kellum (1:14)

Everybody seems to forget. We got a pump up. It was August 17th, August 18th, and they think that it's only up, up, and away from here. And you and I have been talking about this while it feels great. My portfolio is still up, because I stacked in late, mid to late July and early August.

But when you have big run ups, you have necessary pullbacks. In fact, we talked about it in last week's school call, where I was breaking down reversal patterns and how to identify markets really shifting, whether you're looking at the macro, the midterm, or the smaller timeframes. But the fact of the matter is, when you have a 20 plus percent pump, you need, I mean, it's a given.

It's a given right for you to have the knowledge to realize a large pump is going to have a necessary dip or a pullback that is going to find either a new high, I'm sorry, a new low, right? Where it doesn't break down to where it was before, or it breaks all the way down and breaks every bull's heart and goes to new lows. But we're not seeing the signs and the signals for new lows developing soon because we haven't even hit the level that you and I have been talking about for the last three weeks and that $70,000 to $73,000 range. So everything right here with this dump, it's noise. It's just opportunity. We got clarity. We've got what's going on with the AI trade. We got what's going on with the Bitcoin and crypto market moving up against the stock market while the stock market AI trade is cooling on fears around AI slowing down. I think it's all noise. I think we're still poised for a very good fall. Absolutely.

Drew (2:49)

I'm glad to have you on, and that level that we've been talking about.

Kelly Kellum (2:53)

By the way, I'm bringing my sport of Atlanta today with my coffee cup.

Drew (2:57)

I need to take my boy to see them. He wants to go see the Braves first. Now, let's just check out that retracement zone that we've been talking about for some time. Just a golden pocket retracement to the 65, 618 zone here in the 73, 72, $73,000 range. We still haven't seen it yet. It was a very fast move up, and now we are knocking on the door of seeing if that support does exist there. We have a lot of things that are about to unfold on the Senate floor today as well when it comes to crypto. I'm going to make a little bit of reasoning why there's so much opposition here in today's market on something that seems so simple as optimizing and moving our monetary system forward, which kind of can get complex. Let's check out the biggest losers, biggest gainers as things sit right now. There are a couple of coins that are making a pump, but for the large part, we are looking at a sea of reds. Bitcoin is down 3.2% over the last 24 hours, down to $76,000 flat. We have Ethereum at 2430, and I do believe Bitcoin just punched into that lower box here. Let's check it out. I think we just tapped into the 75K region. Yeah, let's check it out. I think it was happening, or as we were talking, 75,800 just hit on Bitcoin. So a ride downtown to Chinatown is currently unfolding. XRP still hanging out strong. XRP is only down by 0.23% here. BNB, not much moving on there. Solana under $100, even with major upgrades that just went down for Solana that we will discuss here. And Hyperliquid, given a little bit of breather, maybe some entry points here, we might want to actually check out the Hyperliquid chart as we move forward here. And Zcash is still over $1,000, Kelly. Unbelievable.