MASSIVE Bitcoin Signal Not Seen in Over a Year! ($87K Holds the KEY)

SPEAKER_1 (0:00)

Welcome in to Discover Crypto. Happy Monday to you. It is an incredible day to be waking up with bags loaded as we're looking not at how bad things can get for Bitcoin and altcoins, but rather how high can we go? That is the fun question. Sorry to all the people that were waiting for October 5th to be that wonderful $40,000 Bitcoin by day. Instead, you're having to pay twice the price. If not more, things are looking very, very bullish. We're joined here with the man, the legend, Mr. TJ. How are you doing?

TJ (0:32)

I'm doing good. Happy to be here. Another fun day in crypto, watching prices head to the direction that we said. And yeah, it feels like it's going to be another bullish week, but we're going to get into that as to why. Yeah, it's obviously October 5th. Like you said, you know, just to put a little context, everybody was saying October 5th was going to be the bottom. This was going to be, you know, your time to buy $40,000.

It felt like at the time we were the only people out here saying that was not going to be the case. And, you know, high, you know, low 60s, high 50s was the best time to buy. Most of you guys did. So very happy for you guys. And yeah, I just keep getting bullish. I mean, every time I look at this and keep looking, it's like, man, this is bullish. And, you know, 100K before the end of the year. I don't know, we're going to look at that in the show and talk about it.

SPEAKER_1 (1:21)

Absolutely, and we have some driving factors that are pushing Bitcoin to highs that it hasn't seen in over a year's time frame. And a big part of that is big money and Wall Street. And we do see some changes coming up in the ETF landscape for Bitcoin. We had the SEC approving a 3X fix for Bitcoin and Ethereum traders who missed the wild swings. A lot of big bags looking to catch up on the Bitcoin pump that we've seen play itself out since that $60,000 region. And now the conversation really isn't about, can we get that 40K flush out? It's, catch me up, give me some leverage to catch up with these moves, as Bitcoin seems to be screaming to that psychological $100,000 level. And TJ asked me the tough question this morning, can we get to $100,000 before the end of the year? Well, let's talk about that real quick.

TJ (2:16)

That actually was spawned, my wife and I were talking about that last night. And I was like, you know, I was looking at it, and even, you know, we're gonna look at it on the charts, but we got Don Alt here too, saying like, this thing's gonna have to gap up to 100K for people to really actually flip bullish. And I think it, I mean, there's a very, very likely that we could see that before the end of this year, or maybe even, you know, pretty quick. So we'll see.

SPEAKER_1 (2:42)

Absolutely. And we are still banging our head against that resistance level we highlighted and kind of identified last week. It's $87,000.

We ran into it, you know, this is on the five minute time frame. So we ran into it on the morning trading hours. And now we had a secondary attempt to make it to that 87K and are momentarily getting flushed out here. This is actually a pretty good candle. It's about a 1.3% five minute candle. Things are getting frisky. Now, the main thing that I highlighted in the school community yesterday is on the daily timeframe for Bitcoin, where we're looking at two different metrics here. So on the daily, one main metric that I want us to be paying attention to this morning is the RSI. The RSI and the stochastic are usually, when I see a very, very hot and heavy stochastic and standard RSI move to the upside and then plus 90 range, but then do a very weak downturn and start angling back up to that 100 mark, things are about to get silly. So it does look like for the local forecast, Bitcoin is moving higher in the next few days here. I think that this RSI move is going to breach above the 100 mark, and there is some gasoline in the tank. If you think that Bitcoin is already pumped and you've already missed out, the weekly money flow is still in the red. We are simply just angling to the upside on the weekly money flow, and I'll show you what I'm talking about here. This is just for all of our trading interests and everything included in that. So the money flow is clipping strongly to the upside. I don't think that we're running into many problems here. We are seeing some major, major signals from Wall Street outside of this increase in leverageability so that they can play a little catch up on this price move from 60K. Another major metric here is to look at the weekly ETF inflows. Now, this candle that we have solidified as of last week, a net inflow of $2.39 billion.