Why Bitcoin Still Can’t Catch a Bid?| Trading The Markets w/ Kris Bullock & Bijan Maleki

**Bijan Maleki** (0:06)
Happy Wednesday, everyone. You just caught Kris trying to tinker with his new keyboard, new mouse on the way. That is what lifestyle chips look like. Welcome to our weekly TA show, Trading the Markets. This is the show where we go over the charts, we look at what's happening in the world of crypto and technical analysis to see what we can sift through. We're back, guys. The market is slightly up, slightly down, who knows these days, but we're going to talk about all of it. But before we do, head over to realvision.com/pricing for your generational setup. Right now, we're running memberships up to 70% off, so $14 per month for Connect, which gets you access to Kris's AI portfolio, Kris's crypto portfolio, Joe Bland's macro portfolio, as well as our live shows and reports that come to you monthly. And Alpha, $49 a month, and you can get Pro for $249 per month. So head over to realvision.com/pricing.
Just so you know, we have a lot of stuff coming, especially by the end of this month, a lot of new dashboards, and something really, really cool, if you ask me about it in the Discord, I may tell you, but until then, you'll just have to wait. Kris, happy Wednesday, how's it going?

**Kris Bullock** (1:38)
It's going well. I actually did a really good TA interview with Rekt Capital earlier this morning for the Pro tier, and that was a lot of fun. So I'm primed to talk about Bitcoin and everything else that's going on, and yeah, looking forward to it.

**Bijan Maleki** (1:52)
Yeah, looking, definitely looking forward to it, I guess a little bit. Right before we started the show, Bitcoin was at 60,000, or a little bit above, and then I made a comment, and then it fell below 60,000. So I'm just not going to comment on it. I'll leave that to you. But I know you wanted to look at kind of the macro setup and seeing what's going on before we dive into Bitcoin. So why don't you take it away?

**Kris Bullock** (2:17)
Yeah. So I wanted to start with macro because I had made all these cool new macro conditions indicators. And so I wanted to just go back and do a brief run through of all of that, talk about how things have evolved over the past week. Conditions have started to loosen a little bit and are potentially trending in the right direction. So I thought that that would be a good starting point. And then, yeah, we'll get into Bitcoin. And I'm going to spend a fair bit of time using the Trading Alpha indicator suite because I haven't been using it on the shows as much lately. And so I was looking at it this morning and I was like, yeah, I think I need to give this one some love because it's a solid setup. And so we'll go through the watchlist and sort of look at crypto through that lens and talk about what we see. But let's start with macro. So last week, I don't know where we were last week at this point, but global liquidity was still chunking down, basically. Let me turn on my cursor here. It was doing this big ugly downtrend. And I don't know which button. Okay, no. New keyboard. Sorry, bear with me.
One of these will make this highlighter work. Anyway, it pivoted here. It bottomed, but it doesn't look like it's showing a lot of strength. It's like, yeah, it's a bounce. Of course, the dollar conversely bounced at the same level as they're inversely correlated. So it was interesting to see that. But the dollar is still showing a fair bit of strength. I mean, it really only bounced off of its 10-day moving average and is kind of bumping right back up there. And then if you look at the rate of change for the liquidity, which are these colored squiggly lines here, basically, these top three are the monthly, yearly, I'm sorry, three months, six months, and yearly rates of change. You can see they're all still pretty heavily pointed to the downside. It's really only the monthly rate of change that has bottomed and bounced back up, which sort of, of course, aligns with this short-term bounce we're seeing here. So on a monthly level rate of change, liquidity has bounced, but on the other higher timeframes, still very much pointed to the downside. So we are still firmly in a liquidity contraction and we're only seeing a potential slight bounce there.
So not great, but if we look at everything else, the VIX has settled down, which I think is good. It was hovering up in the low 20s and that was causing the stock markets in particular to go batty over the last couple of weeks. And it's sort of come back down to its, you know, kind of more boring level around 15, 16, which is good.