DEMOCRATS READY TO FIGHT CLARITY ACT! HYUNDAI'S HUGE CRYPTO ADOPTION!

**Tony Edward** (0:05)
Hey folks, welcome into the Thinking Crypto Podcast. 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. All right folks, let's quickly take a look at the Bitcoin chart because Bitcoin still continues to hold strong and it's still showing strength, I should say, despite the escalation of the Iran War.
Right now in the daily chart, the MACD shows the bulls are in control, the MACD is in the green and the RSI is in the neutral zone. So it's not in the oversold zone anymore, but it's also not in the overbought zone. So there's room to run here and as I've been telling you guys, we could see a rally up to 70,000 or a little bit higher. The question is, will it break through that 200 day moving average or will they get rejected like it did in the last rally up to about $81,000, $82,000?
Now, what we are seeing is on the weekly chart, the bullish divergence is forming which is great. That is something you see at the bottom of the bear markets and you're also seeing a bearish divergence for USDT stablecoin dominance. So the signals that we want to see are appearing here, guys. Very, very good sign. Now, it doesn't mean the bear market is officially over, but I believe the majority of the downside is complete and we are nearing that bottom if it's not in already. I know somebody is going to say, Tony, well, why can't you say the bottom is in? Because we need further confirmation. Because as I've been highlighting, the nuance of a bullish divergence on the weekly chart is that despite the RSI ascending, the price can still descent. Now, the question is always timing, right? Is this bullish divergence complete where Bitcoin breaks back above that 200-day moving average? There's a saying, and I believe Paul Tudor Jones said it, nothing good happens below the 200-day moving average. And I've often stated, when we are definitively above that 200-day moving average, it means we are in a bull market. When we are below it in a downtrend, we are in a bear market, obviously. So the positive signs are there. We just got to be patient and give it time. You know, could Bitcoin and the market bottom out this month or sometime in August and then start to rally sooner than people expect? Absolutely. Or could the four-year cycles continue to play out where Bitcoin does another flush down, maybe to the low 50s, but then it's sideways chop and then it rallies later this year. But right now, as mentioned on that daily chart, you still have room to run here. So fingers crossed Bitcoin can break through that 200-day moving average and then definitively say, hey, the bear market is over. Or it gets rejected from the 200-day moving average, rolls over to the low 50,000s, then finds the bottom, maybe there's some sideways chop, then it starts running. But nevertheless, guys, the majority of that downside move, the downtrend is over. So that's the good news. It's just continuing to hodl and being patient. And another positive sign is on the monthly chart, the RSI just bounced off of the 40 level. So this is levels it bounced off of in 2022
And in fact, in the previous bull markets, it bounced from a higher level, like around 44
So you're seeing the turn of the corner here, which is very good. And in addition to MACD shows, the bears are losing momentum because right now, the bears are in control per the higher time frame of the monthly chart. But the red bars are getting lighter and lighter. So these are things we saw again at the bottom of 2022 in previous bear markets. So all great signs. But again, I can't stress enough, the patience is so important because the market will make you want to give up. It will say, oh, crypto is dead. It's never coming back. If you're getting those thoughts and feelings, it means the bottom is near, guys, right? The market is set up where it wants you to capitulate. It wants you to feel the pressure and the pain, right? They call this zone here like the max pain zone, but that's where it's an amazing opportunity. So I've been telling you guys, I've been accumulating. I'm personally accumulating all coins. I haven't been really buying any much more Bitcoin. I might add some more, but I've been grabbing up XRP, some ETH, some Canton Network and others. So I'm turning bullish guys. And I know some of you are going to think I'm crazy because the price is not reflecting that, but the point is the opportunity. And again, we're going to turn the corner sooner than later. And some other signals that are flashing here is Bitcoin is nearing a power loss support line. Fidelity has tracked this since 2015