Is a Bigger Move Coming?! | Trading the Markets

**Bijan Maleki** (0:07)
Happy Wednesday, everyone, and welcome to Trading the Markets. I'm Bijan Maleki, and of course, I'm joined by Kris Bullock, aka Blastoplast. Happy Wednesday, Richie Rich.
Markets are doing their thing. We're gonna talk about it all. Kris has a whole bunch of things to go through. We're gonna take a look at some alts today. Obviously, we'll talk about Bitcoin, and whatever else is on your mind. If you guys have any questions, just drop them in the live chat, and we will try to get to as many as we can. If you are watching us on X, or on Yahoo Finance, or if you are on the free version of the Real Vision membership, join us on Connect to ask your questions to Kris directly. He'll take a look at whatever chart you want him to basically. Kris, happy Wednesday. How are you doing?

**Kris Bullock** (1:02)
Happy Wednesday indeed. I have a bunch of stuff today. I've got a good show today.
I've spent most of the morning digging into just which alts are outperforming, because we're seeing a ton of altcoins that are doing well, that are actually above their 200-day moving averages. And I know I kind of talk about a list of kind of the usual suspects, you know, each week, the likes of Venice and Hyperliquid and things like that. But I wanted to kind of do a deep dive and really look at what's going on and what is breaking out, because we are seeing some resilience in crypto. And I wanted to just make sure that I had a really solid picture of what that looked like, you know, because there have been a number of digital assets that have outpaced Bitcoin in the last 90 days. Some of them are a little, you know, speculative and iffy as per usual. But I wanted to see if there was some actual real substance there, you know, something that maybe I was overlooking that's been flying under my radar and, you know, see if there's anything else that we need to be paying attention to. So I'm probably going to spend the bulk of the show focusing on that list. We'll probably just go through the CoinMarketCap alt season index and look at some of that stuff and use that as a reference. But I think, of course, let's start with Bitcoin. Let's kind of go through that and see where Bitcoin is because even with all of these alts that are doing well, we still need Bitcoin to really be doing well to add fuel to this larger fire. And so we know we had a big dip down in Bitcoin last week. You know, we had basically a double bottom. It came back down and got back down to around the 50 or I'm sorry, 60,000 level and it has bounced.

**Bijan Maleki** (2:45)
One thing, sorry to cut you off. I don't know if you're looking at a chart right now, but your screen isn't shared.

**Kris Bullock** (2:53)
Good call. Forgot to share my screen.
Thank you.
All right, here we go. There we go. Much, much better. Okay, thank you. Yes.
Starting over. So yes, let's take a look at that. I've got a chart of Bitcoin up here.
We got the big bounce down. You know, it ended on a D Mark 9 and we bounced back up there. And so typically when we get a big extension, a big deviation away from the 20 day moving average, we often get a big snap back to that. And if we zoom in here, that's really exactly what we've received. You know, a big snap back right back to the mean. We've completed a mean reversion. Also note that it kind of lines up perfectly with this underside, this previous support turn resistance level at around 65,000 or so, 65,000, 8,000, give or take. And we did poke above it for a day. We closed above it. And then yesterday we closed back below it. And right now, today, we're hovering kind of right on the line right exactly right at a D Mark 9 also. So this bounce has basically gotten exhausted. It's completed. You know, the momentum has officially waned. We're at resistance and we're exhausted. So it's pretty much I would say this is a pretty key inflection point right now. It's basically do we get rejected here? Do we roll back over or can we actually turn this back into support? Can we invalidate the D Mark 9 and can we kind of hold back up in this upper range? Or was this just a mean reversion in a otherwise daily downtrend that we're in now? So that's the big question with Bitcoin. Obviously that remains to be seen.