Will Bitcoin Break Below $60K? With Kris Bullock & Bijan Maleki

**Kris Bullock** (0:00)
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**Bijan Maleki** (1:10)
Happy Wednesday, everyone, and welcome to Trading the Markets, but it's not with AI, although we will probably talk some AI. But this show is mostly focused on technical analysis, looking at crypto assets, and basically any assets that you and our audience wants to know about. So for those of you that are tuning in on Yahoo! and on platform, if you want to ask a question about any specific asset, anything that you're holding in your portfolio, you need to be a Connect member and above. So come on over to realvision.com and join us and Connect so you can ask questions and take part in the conversations. And Kris will directly do some TA on whatever you ask him, for the most part, unless it's like bitmine today. If he doesn't know, he's gonna tell you that as well. That's why we love Kris. So another thing, we've got quite a show for you guys today, right? Crypto is tanking, Bitcoin is teetering with $66,000, looking like it can go even lower. The man who said he would never sell Bitcoin has in fact sold some Bitcoin. So we're gonna be talking about all of that. And of course, when the crypto markets are down, our portfolios are going down, it's easy to feel the doom and the fear sentiment in the markets. But there's trades and opportunities and gains to be found literally everywhere, whether that's in AI, whether that's even within crypto, there are select assets that Kris and I have been talking about for a while that have been doing exceptionally well considering the overall crypto backdrop. But with that in mind, we actually have been releasing a few playbooks for you guys, so Kris' playbook just dropped today on the platform. So go and check that out. Joe Bland's dropped yesterday as well. So if you want to see how Joe Bland finds these 100% stock, space stock gains, how Kris knew that Kris found Venice in the early days, or how he found SPX when it was like $0.02, these are the playbooks that you want to read so that you can see what these guys are looking for. So maybe you can outgain them. But enough of me, Kris. How are you doing? Happy Wednesday.

**Kris Bullock** (3:35)
Yeah, doing well. Excited for this kind of new format. We've been doing this show round about two years now, and it's cool that we're now doing it to a much bigger audience. So I'm excited for that.
But yeah, no, everything you said, well said. I share those sentiments exactly, and I've got a lot to talk about today. I've got a lot of charts to dig into to show what I'm seeing. As is common, there are a lot of mixed signals. There's some bullish, there's some bearish, depending on which time frames you look at. There's a few reasons to be optimistic here and there. But yeah, I guess without further ado, I'm just going to kind of dig in and...

**Bijan Maleki** (4:16)
Dive right in. The audience is waiting. So dive right into it.

**Kris Bullock** (4:20)
I want to talk about, of course, what happened yesterday, first of all. Let's start out by looking at that and sort of see what the damage is, what the takeaways are from that. So the first thing I noticed yesterday, obviously big red candle, down 6.5%. It ended up being the third largest down day we've had, well, in recent past, since we had the big February 6th crash that kind of formed the potential bottom. And then of course we had the October 10th meltdown that we're all sadly familiar with. But outside of that, this is the third largest down day we've had outside of those two. So, there's that. Couple of takeaways though. Looking at the RSI, this is the lowest RSI we've had in quite some time. And if we want to look back at previous times RSI's got this low, it generally formed a low. It generally was the low. And so, the last time we had this low was also the February 6th low. That was the bottom for a while that kind of sparked this big major counter-trend rally that we had prior to that. The previous RSI dipped down into the 20s was, again, the low we had kind of coming off the back of that October 10th low. That also formed the local low and was the seed for that counter-trend rally there. Going back here, there's another interesting thing I want to kind of point out that is one thing that I'll be looking for. And that's this other previous time we had the RSI dip down into this kind of 1920 range. If we'll notice here on this one, this didn't actually call the low. Let me kind of turn this highlighter on so I can show what I'm talking about. We had the RSI here as the low, which was this low here. But we can see price actually continued to dip down for some weeks, several weeks in fact, before forming kind of a double bottom, ultimate low here. But if we notice here, the RSI formed a higher low here in this case, which was what's called a bearish divergence. We have price forming a lower low, RSI momentum forming a higher low. So this is constructive. And we can see off the back of this bearish divergence situation, it ran for quite a while, like, you know, for the whole rest of the year basically. This kind of formed the bottom of the tariff news situation and the big flesh out from that. But we got this nice structural pattern of a bullish divergence on the RSI. So I'm kind of wondering, are we going to get that here? What, how is this going to play out? Is this going to be the low and is just going to get another counter-turn rally or are we going to see possibly a lower low from a price standpoint, but a higher low from a RSI momentum standpoint? And will that kind of form the basis for a larger bottoming pattern that we're all kind of hoping that this ends up being for Bitcoin? That yeah, maybe it takes a little while longer to play out, but it forms a more solid base and then potentially a higher RSI low will be the big signal we need to fuel it into a bigger rally. That remains to be seen. We won't know in the moment. We'll only know sort of in hindsight, but that's kind of one thing I'm going to be looking out for.