MARKETS in the MORNING, 5/21/2024, Bitcoin $71,300, Ethereum ETF Surge, Alts Up, DXY 104, Gold $2426
here we go here we go here we go here we go it is markets in the morning let’s [Music] go hey what’s going on everybody this is the blockchain backer bringing you the latest cryptocurrency news and Analysis welcome to markets in the morning today is Tuesday May 21st 2024 this is markets in the morning where we take a look at the price action to the cryptocurrency market including the Bitcoin price chart along with the altcoin market which if you didn’t catch it there was some ethereum news yesterday we’ll we’ll take a peek over there at financial markets as they get set to open up here in the next two minutes along with precious medals like gold and silver and the dxy or the US dollar currency index lastly we’ll wrap it up with any type of financial news or crypto news as we get our day going here on this Tuesday and then we’ll hang out in the chat and kind of goof off for quite a bit uh so thank you all for tuning in so much uh we obviously had a very active day over there in the crypto market yesterday uh just massive price massive price moves to the upside yesterday and when it all was happening I was just like my goodness we spent like 10 minutes talking about this in markets in the morning that this was the thing that might be going on behind the curtains that uh the market hasn’t priced in uh and that of course is the odds of ethereum ETF approval uh yesterday I had conducted a poll here in the chat and in the live stream asking people what they thought the probability of a ethereum ETF approval would be I gave the options of a 10% chance it could happen 25% chance 50% or 75% chance only 10% of respondents gave it a gave it a 75% respon uh probability uh 60% of the people who answered that poll in here gave it a 10% chance of getting approved which would be on the 23rd which is in two days from right now um I read stuff online saying that it appears that maybe Market participants don’t have this properly uh assessed thinking that it’s like a no-brainer it will get denied and that the was the potential that this Market would get wrong footed and sure enough yesterday it appears that there was a lot of filings that came through through to to the SEC from Fidelity and uh all the others that are trying to get a spot ethereum ETF through and the people who follow this Market very closely such as Eric pallis I think that’s how you say his last name uh opt their odds from 25% chance of getting approved to a 75% chance of getting approved and of course immediately afterwards we saw ethereum go on a big fat rip going from $3,100 now sitting up here near $3800 uh after the market found out uh they’re not properly uh positioned for an ethereum ETF to get approved and crazy enough that we uh spent a good amount of time talking about that and that people weren’t uh prepared for that of course we had no way to know what the the reality of the odds getting approved were but it did get updated yesterday that now it is at a 75% probability that an a spot ethereum ETF will get approved this week so what did we see we saw the market just rip uh lots and lots of stuff was up over 10% yesterday uh so just a killer move happening throughout the market we got an escape for the for the range to finally end up happening over here on the altcoin market which we’ve spent quite a bit of time just staring at this waiting for something like that to happen it had gotten out of those 4H hour moving averages but then uh uh there you go now a little bit of a popup to happen in here still this doesn’t you know mean uh we necessarily go for escape velocity happening right now or anything like that uh but it does uh it does give a little sigh of relief to finally get out of there uh so the reason the reason being of course in these types of structures what you don’t want to see uh is things like this where you know you go and your go and you fall and then then you capitulate one more time so the last thing we wanted to see is that we were sitting in something like that right in there uh because that’s typically what happens in a five wve structure down to the downside so the longer we sat in here of course that concern just sat there and grew will this thing go down um and fortunately we got our pop to the upside and a big side relief still not anticipating that we’re going in a straight vertical line up immediately uh but that that was our first big sign we needed for Rangers escape and we did end up getting it yesterday now you can look at something like others which is the altcoin market excluding the top 10 not quite as big of an escape happening in here but total two taking a look over there at the altcoin market including all altcoins including ethereum including the stable coins everything like that boom it’s through the 702 Fibonacci retracement currently right now uh that news also getting timed along with an escape through all Fibonacci retracement levels in here I post it over there for Bitcoin I posted over there on Twitter right when we got back to the 702 Fibonacci retracement po what was my post it was very very basic very Bland uh 702 retrace for Bitcoin as boring as you can possibly be here we’ll just screen grab it really fast boom boom boom boom there you go blanded as boring as you can possibly be as we are back at the 702 Fibonacci retracement go ahead and insert your timed news boom ethereum ETF odds increase drastically boom it shoots right through the last two right in there so you can see how these happen so uh still even when talking about things like this it’s still about coming back and doing support building happening in here uh you know even in these examples looking for support building to come back down in here exciting to see the price move up exciting to see all that happen but I still go do go into it with a mindset that we’re up but it doesn’t mean we go to moon to uh just that that was very very nice uh for that to end up happening after all that waiting uh to finally get that move that we have been looking for now the next phase that we are going to be entering into and that we’re going to be watching for is now support building and support building to create a Launchpad to try to go for the actual Bull Run for this Market because like we’ve talked about uh this hasn’t technically been a bull run and we haven’t seen expansion happen in this market this was retracement of Epic Proportions back to a pinpoint precise nail of the 702 Fibonacci retracement for this market so now the next phase we want is to see uh expansion and if you follow anybody on Twitter like his name r can’t remember his last name somebody help me R what what is his name somebody saved me uh R Paul yeah call he’s calling it The Banana ban zone right so Banana ra Paul right banana zone so if you to understand what banana zone is it’s essentially this phase right here right so getting getting through the retracement levels happening in here and then entering into the big moment and that’s the whole bull run right everything after that is all a bunch of chop and maybe there’s a few coins that get going uh but this is that phase where the whole Market can move together because it moves into an actual true expansion that’s still what we haven’t had happen in this market yet it’s still like there’s being back down in here and we haven’t seen the whole Market go ripping and roaring so that’s what we need to be able to get out of there uh but hey very good uh but just uh definitely I definitely have the expectations uh that there would be ranging that takes place in here the interesting thing though of course is that on Thursday we’ll find out if the ethereum ETF does get approved like we talked about yesterday the market was was definitely not prepared for it the market did not think it was a possibility um and we talked about it yesterday that it seemed like some people in the no actually are saying this saying that the market does not have this priced appropriately on the odds of it actually getting approved and so yesterday those odds updated drastically now we get to a point where it’s not that the market is necess it may be possible maybe it still is uh that the market is not not priced appropriately for an ETF approval now has the market priced it in properly is the market now pricing in an ETF approval right and now we have to get that ETF approval right what happens if we don’t uh or is it still that we’re we haven’t still adequately priced in an ETF approval just yet and there still is more to go so it’s an interesting time obviously this is all timed to time news to happen when it did uh like we talked about uh with the GameStops stuff when it all showed up this is just like back in January of 2021 uh this is where the altcoin market hit its retracement level here in 2024 this is where the altcoin market hit its retracement level in 2024 this is the GameStop craziness showing up this is the GameStop craziness showing up but what ended up happening here so not only did we get uh retail investors nice and primed and lubed up and moisturized ready to act degenerate uh then news did come and it was news that really catapulted the whole Market Market this is what created the expansion and got everything really crazy what was the news it was Elon Musk it was Tesla adding Bitcoin to the balance sheet it gave a news narrative it gave a reason and a a why uh to also be bullish and so like what narratives that we’re really starting to see kind of transform right now uh is that the SEC which has been a nightmare in the crypto Market especially for xrp holders been dealing with it for many years at this point um the SEC of course has gone after everybody right they’ve gone after xrp they’ve gone after ethereum they’ve gone after binance coinbase Kraken you name it they’re everywhere right uh but it’s politically backfiring now and uh is that is we is this ethereum ETF approval if it does end up happening the first sign of that the SEC is going to have to back off for political reasons because Elizabeth Warden and Biden are getting absolutely crushed in the polls now uh due to this stance which is bizarre to be anti- crypto absolutely bizarre uh but you know are they going to have to change course right because the SEC is a political weapon right like is it really an agency we we all know it has done ridiculous amounts of harm rather than good uh so we’ll we’ll see if this is a changing of the tide is this some more positive thing for crypto moving forward and hopefully hopefully this is the early signs of that happening and of course that leaves me optimistic to say hey is this xrp thing going to come to a conclusion here pretty soon are they now backed into a political Corner that they need to do something and I sure hope so so okay uh but anyway that’s what’s going on out there is that going to be our Catalyst news is that going to be the what if it’s Gary Gensler gets fired dude would would that create a bll run I don’t know maybe uh that would be that would be a pretty good one uh but okay there you go that’s that’s what we got going on with Bitcoin uh there you go that’s what we got going on with the altcoin market finally escaping from our range thank goodness we’ve finally gotten out of there uh total two of course has gotten all the way up here you know keep an eye on these right you get back to these retracement levels again this can be major resistance levels happening in here I know we’re all bullish we’re all excited we’re all euphoric but we’re still at them so be cautious about them right it can be rejection levels be very careful in there and being super Yello uh still waiting on others to be able to do the same thing but again we’re just waiting for expansion but there you go ethereum $3,800 happening in there let’s take a look at the retracement levels happening in here for ethereum uh there you go right up see look at that right up to its last retracement level right there so you pretty much have your number there looking for a break of 3,821 so from where we are right now looking for one more push above to say goodbye to all retracement levels but as of right now we’re at the last one hopefully something shows itself up as for xrp xrp responding positively to the news as well but still range bound uh this again like we talked about yesterday still very similar structure to how things get going if we’re going to see expansion come in this market you got Bitcoin back at the all-time high we’ve seen this setup before it did lead to that hopefully we can get our Catalyst to come as well for this thing too um in that Gary Gensler comes out and says you know what I actually love it I didn’t want to do it Elizabeth Warren Made Me Do It um we’ll see but waiting waiting for something to come out of there as for the down the United States stock market everything um flat opening uh the Dow’s up two points so 0.00% the S&P is down four points so that’s 0.08% the NASDAQ is down a little bit more it’s down 60 points which is 3% winners and losers this morning are coinbase Tesla and Microsoft on the winner side losers are G m c AMC and Roblox and Nvidia I believe Nvidia is going to end up having earnings come out here is that today or is that tomorrow that is going to be tomorrow so Wednesday May 22nd uh earnings coming out for Invidia this tends to be for some reason the one that everybody is saying the entire economy rides on Nvidia don’t know if they’re right or wrong uh the breadth of the market is complete trash uh that you know it’s a handful of select stocks that are doing it so maybe so maybe it is depending on Nvidia either way moving over to gold gold is up uh a dollar today it’s at $2,427 with silver sitting there at $32 even or $ 3199 now uh US dollar currency index still in that 104 so we’re at 10463 right Clos that Gap still just kind of holding some supports here for the dxy uh but for far enough away from the historical danger to be crying about it right now so it seems like we’re doing a little okay today otherwise $71,000 for Bitcoin hip hiip hoay uh not not that I Bitcoin interests me in trading Bitcoin percentage wise it it means nothing to me but as a sign for the market we take it uh and then total three of course that’s the big one right there to see us finally getting escape from that range to happen in there next up is just probably the next couple of weeks like if we get a big fat break to the upside will I be upset no absolutely I’ll be super thrilled uh but the reality is my expectation moving into the weeks ahead and moving into June is that now that we’ve gotten that range Escape uh you know we still we still could tick up a little bit higher happening in here but my expectations are that we do probably end up ranging in here and doing some support building that’s what we talked about a lot before we even got out of the range we’re just trying to get out of it the next phase after that will be about the support building coming after that so thank goodness we got it hopefully there’s a big narrative change coming to the market hopefully that’s the thing like we saw back in here that we did get a narrative to get retail to compiling into this market and hopefully that’s what we have going on here today uh but as for total two you could see all the way up there what’s uh getting through the 702 Fibonacci retracement level there’s still the 786 sitting above there and you can see with ethereum it is right up there that 786 Fibonacci retracement level for ethereum is 3,821 as the market gets surprised by the ETF probabilities being updated to a 75% approval on the 23rd which is 2 days from today that is Thursday so was a nice 16 minute ramble going on right there but there you go that’s what we got going on in the market it’s a good day happening in here now we’ve got our range Escape now it’s going to be about uh spending some time in here to try to do some support building and all that stuff it still could continue marching a little bit higher but in the end like I’m just looking towards that phase the phase of supports so wonderful wonderful thing to see it go to the upside and uh hopefully we can keep that keep that juice going in there moving over to financial news to see what’s going on out there in the world today Nvidia is the Talk of the Town at AI events leading into this week’s earnings stock futures are little changed after the NASDAQ Composite hits all-time high lows beats on earnings and revenue even as consumers spend less on DIY projects one bad 30r Andro is Singapore Airlines flight encounter severe turbulence dang really turbulence crazy I’m never scared of turbulence my wife always gets nervous and holds my arm when it gets turbulent I’m like oh no this is the fun part you know what part of an airplane I don’t like the landing I do not like Landing I love taking off it’s super fun uh I don’t mind turbulence it adds just a little bit of fun to the ride uh but the landing is a little scary to me and I think that’s just because I’ve been through Landings in the Cincinnati Airport uh when I was a kid I was maybe like 12 or 13 years old I was Landing in Cincinnati and it was a really bad storm and we circled around the airport for about an hour before we ended up going in for the landing then when we came in for the landing we hit we hit the ground boom bounced off the ground and then the pilot had to take back off and we had to go back up in the air and I’m one of those 737 Maxes or whatever uh and that was scary to hit the ground you feel the hard slam into the ground and then we bounced off the ground and the pilot had to take and the pilot didn’t try to land again he took off again and had to come back and we had to try to land a second time that is why I don’t like Landing but turbulence man I’m never scared of it but anyway 30 30 injured during turbulence that’s crazy this is not financial news but I’m rambling we’ll move on all right Fidelity drop staking plans in updated ether ETF filing annualized yields on ether staking are nearly 3% as of Tuesday data from popular staking service Leo shows Li shows so yeah so the big changes that are coming with the ETFs is that these ETF filers are having to remove staking rewards from the ETFs so the SEC does not want people who buy the ETF to get the staking rewards Wall Street gets them wow that’s how we’re getting rid of approved all right uh first mover America Bitcoin hits 71k as ether ETF hopes build the latest price price moves in crypto markets in context for May 21st protocol Village live Pier announces AI subnet launch web 3 marketing startup spindle launches onchain ad Network and salab based wallet Phantom buys web 3 specialist bitsky moving over to coin Telegraph Fidelity reported ly amends ether ETF S1 filings and removes ethereum staking ethereum price Soares on spot ETF rumor how are eth options markets positioned the $2,500 doco about FTX collapse on Amazon Prime with help from Mom okay Bitcoin perss Bitcoin preps the Golden Cross which last spark to 170% bitcoin price gains anti- crypto FDIC chair Martin gronberg grunberg is to step down which is the best day ever so yeah I guess we’re also seeing that happening there uh anti- crypto bro uh in the FDIC the chair uh stepping down crazy turn of events the Democrats fixing stuff uh Trader turns $2.2 th000 of Soul into 2.26 million in 8 hours with a new meme coin I doubt it I doubt it maybe on paper you did but you did not have $ 2.26 million of sell liquidity in in 8 hours uh Ripple publishes math professor warning public key crypto crypto systems should be replaced do users really care about decentralization industry figures Clash I I don’t think people really care that’s reality uh open AI leadership responds to former employee safely out wait what AI leadership responds to former employee safety allegations why do I say they don’t care about decentralization just because the the exact same thing about people caring about private saying they care about privacy and if you ask somebody they truly do care about privacy but then when it comes down to it They Don’t Really [Laughter] Care US Senate over in crypto they don’t care uh they’re more than happy to have everything be public US Senate overturns sec’s anti-crypto resolution but will Biden veto the law decoded so we’re going to find out there right that’s uh you know everything passed in the Senate and the house now it’s Biden’s turn all right so moving on over here to Fed rate height cut pause odds still sitting at 96% probability that the FED will be paused on June 12th with probability is coming in September a 76% probability of a cut coming in sep September otherwise we set at $71,000 here for Bitcoin as we kick off this beautiful Tuesday and uh ethereum 3,788 try to take a stab there it looks like try to take a stab it getting above unable to right there keep an eye on it throughout the day see if it gets any more juw to be able to take a second attempt otherwise green after yesterday’s Mega Green Day over here in crypto and um yeah that’s what’s going on so uh I I’ve already seen some of the super chats come through in here and uh so we this that kind of wraps everything up so here we’ll we’ll do one last little recap here really quick you guys uh stock market the Dow Jones is up slightly it’s up 45 points which is 0.11% but then it’s mixed everywhere else because the NASDAQ is down. 35% the S&P is about flat at negative .6% and the Russell 2000 is down. 1% uh leaders and losers in the morning Tesla coinbase United Health GE losers or GM uh GameStop Roblox AMC and Amazon uh but there we go that’s what we got going on over here in crypto that’s what we got going on in stocks silver and gold have taken a little bit of a chill here for the last couple of days we’ll see if that Still Remains to be true but silver sits right there at $32 flat bounc in there there you go 32 bucks so there you go all right uh we’ll hop into the chat we’ll hang out I hope you guys have a great day if you’re going to head out at this point if you could hit the like button before you go I really appreciate it uh just give you a little bit of background on what’s going on in my world really quick uh because there’s going to be a lot of super chats that come through because I’ve already seen them see come in here and I seen the messages in the chat will fill you in and what’s going on in my personal life of uh things that happened here in the last day the last 24 hours have been a head spin for me over here uh with an injury that my son sustained yesterday and uh uh again L I posted a long-winded tweet about it last night and again it’s just kind of a reminder on the things that are important in life the these charts are one thing these are just a a small part of our lives in here but uh to keep you kind of in the loop of what’s going on with me uh yesterday after Marcus in the morning uh got a phone call from my kid School uh kid fell and and hit his face on the ground and they said that he they thought he would need stitches so he rushed over there got him took him to the Urgent Care and uh spent about an hour an hour and a half at the UR about an hour and a half at the Urgent Care and uh they did liquid stitches on him and they told us he would lose a tooth and we took him to the dentist they said no he’s goingon to lose multiple teeth um and uh that they thought that the stitching job was horrid and we needed to go to a hospital and get a better stitching job because at this point we’re like two and a half hours after the accident he’s still bleeding profusely from his mouth uh so we take him to an oral surgeon yesterday he confirms again he my son is going to lose multiple teeth and uh but at this point we’re like four or five hours into this whole thing and the bleeding has slowed down to a manager rate and fortunately the oral surgeon did say that at the rate of bleeding that he was at at that time it did seemed like it was going to stop bleeding on its own no the good news is I’ll give you an update this morning the bleeding has stopped so thank God uh but it’s a highly frustrating situation uh because the whole thing is caught on camera of when it occurred I don’t know if you if you have little kids you may know this that uh many times when they make kids walk in the hallway uh you have to be quiet you have to keep your mouth shut you’re not supposed to make any noise when you walk in the hallway um but at my kids school they also make them walk with their hands behind their back so when my son fell he was unable to catch himself and so he took the big face plant to the ground busted his mouth open and he was going to lose teeth because because the school makes them walk with hands behind their back uh so I’ve got another situation I have to deal with with that whole thing um but again that’s part of life we’ll figure out how to deal with it life is really just about how you deal with the the face plants that are Delta so you know he’s he’s all jacked up his mouth is totally effed uh and uh you know when he talks he just talks with his mouth open and he he does move his jaw nothing like that so you know man you know on the other just remember on the other side of the screen there is a human being and like I go through a lot of things like a lot of you do and what I’m saying isn’t special right I always say you’re not special I’m not special this is stuff that just happens right and we all deal with these types of things in life these uh curveballs happen in life and a lot of times we want to think we’re in control of every aspect of our life that things just happen and you kind of got to roll with it man and and uh so we’ll get through this and he’s not going to die that’s the best thing about it all now what he’s going to look like with missing a bunch of front teeth I don’t know but uh that’s what I dealt with yesterday and so when all the green candles are Printing and everything I’m like oh this is great uh then I look back at my son and just mouth jacked with blood everywhere so getting a little personal story of of me at this point um but I too deal with life’s unexpected and unforeseen um in unpleasant circumstances as well and um you know I’m just grateful he’s okay you know from a health perspective situation you know if a head straight to the ground if you don’t know this about me when I was uh like 13 years old I skateboarding accident I hit my head on the ground really hard I had to have surgery I cracked my skull uh so I do know the consequences of of having a head hit on the ground and so I’m grateful that we don’t have that happening so anyway uh yeah so that’s why I wasn’t like posting a lot during yesterday’s big thing that’s what I had to deal with so yeah we’ll get through it we’ll get through it and just more frustrated that you know that just it’s if you have kids get it man like you get it sucks but we’ll get through it but okay I’ll move on uh happiest little place in the Galaxy gifted five uh memberships uh thank you very very much I really appreciate very generous of you thank you uh Ed the Metalhead said BCB sorry I’ve not been active in a while but I’ve been lurking I just wanted to wish your son to speedy recovery War runs to show off to his mates yeah uh Annie Philpot thank you Ed it’s good to see you man Annie Philpot gifted five memberships brother thank you very much hot tub Brian gifted five as well guys I appreciate it thank you uh miles essic says I hope your son is okay thank you I appreciate it yeah so I mean here here’s I’ll say the positive things this morning he’s acting much more like himself uh might if you don’t know this about my son you probably don’t he’s totally a troll uh he’s totally a goofball he’s a trick um he’s the polar opposite of what my daughter is my daughter is like this sweet little innocent always wants to please you type of person my son is 100% the polar opposite uh when we when my wife and I talked about having a second child years ago we thought you know what this is too easy look how good we are at raising children look at our daughter she’s a shining example of a complete perfect human being we are God’s gift to Parenting like we should absolutely have another one how much harder can it be we got the absolute polar opposite with our son totally opposite um so anyway when he yesterday he was not acting like a troll he was definitely in excruciating pain this morning he is showing some signs of being a troll again so that’s good that’s good anyway yeah thank you uh Chris uh and one skipped because I know one came through to earlier in the Stream Chris Deion had said all and thank you very much Chris it’s generous he says all the best wishes to your son and your family sorry to hear your story and wishing a quick healing perfect father who keeps in mind what’s important thank you for all that you do thank you very much Chris it’s very kind of you I’m definitely not a perfect father uh but uh I you know I think anybody can resonate with the feeling of a kid getting hurt uh thank you Chris and then Chris Merill uh says the same thing happened to my daughter BCB had to have her two front teeth removed turned out fine her adult teeth came in eventually so there’s no issues good luck to your son thank you yeah that’s what the oral surgeon said yesterday said we’ll give it a couple of days and take a look at it and if not we you know we’ll see if we have to pluck them out of there uh John uh sugar but thank you Chris is generous thank you John sugar says sorry to hear about your little one yesterday praise for all that you’re dealing with thank you very much uh thank you very much John uh Cameron LMFAO my first Super Chat yesterday and this dot dot dot dot dot I don’t get it I don’t get it oh yeah well you got the big move right uh Chris aamal says I hope the fam is better today sending love brother thank you Chris and then he had gifted a super uh a membership that Chris I appreciate man crypto prepper BCB you spoke the ethereum news into existence can you do xrp now sure all right so what happened yesterday right we acknowledged that that the market had not appropriately priced itself for an ethereum ETF approval in markets in the morning yesterday of let’s okay wait we got how do we how do we recreate that um now because it see it won’t be real because people will know anyway uh now what if the is feeling a whole lot more pressure to accept any type of settlement with xrp Ripple now again that’s just me just fabricating and making up stuff I don’t have any source of information to know that to be true when we talked about it yesterday there were actually sources indicating that the market had not appropriately accounted for the probabilities of the ethereum ETF getting approved that the market was reading it as being like a 67% probability we conducted the poll in here uh over half of the people said that there was only a 10% probability of the e ETF getting approved even after we spoke those statistics right in that but um then the odds got bumped up yesterday right the pros came out yesterday and said hey the odds are actually 75% probability that it’s going to end up getting approved so there was like data happening there was things happening showing the market wasn’t priced appropriately and then what happens Boom the market says wait a minute the odds are 75% it’s not 6% like we thought and so uh Market re repriced itself of course accordingly unfortunately I don’t have any information to tell you that what the odds are for xrp or the Ripple or anything like that so we’re kind of just stuck where we are on doing that so um but hopefully we could speak it into existence by saying it is appearing that there’s a lot of political pressure happening against Gary Gensler Elizabeth Warren Biden and the Democrat um party right now uh to kind of clean up some of this mess that they’ve made and what is the biggest mess of them all uh it’s the Ripple and xrp situation so hopefully that can get itself cleared up pretty soon XR priest morning bring me down mom bring me down some hot pockets some more Hot Pockets yes 423rd thank you very much uh Pega member for 5 months says I read your Tweet today reminds me of myself as a crushed my tee on a metal pole at the age of seven sucks hope your son’s getting well soon I appreciate it guys the Jake F show says bcba I’m getting the urge to fomo out of Litecoin and Bitcoin cash is sell for a loss in buy ethereum well Bitcoin cash has been way up uh and buy ethereum I feel this is part of where it’s never my token is strong oh yeah people that’s how people are always going to feel after a move like that this was I believe percentage wise this was the largest daily candle uh in ethereum’s history right so people were not appropriately allocated there right ethereum is my second largest holding so I talk about that a lot this with ethereum if you haven’t done the research on it the entire crypto ecosystem is built on ethereum and it’s more than just saying token price go up the thing is built on it the token is used as the gas and it used is used as a ticket and the entry fee uh into practically the whole ecosystem of crypto um and I just don’t think people when people try to do ethereum fud like it’s a waste of your time it is an absolute waste of your time uh to FUD is reality um but yeah ethereum should have been on your radar the whole time bro uh Jason fish uh M for four months uh get your mashed potatoes and smoothie recipes out yeah exactly yeah last night the only thing we could get him to eat was uh we had to make homemade milk chocolate milkshakes miss mix with like pedite or pure whatever they are I don’t know what not pedite what’s it called I know there’s going to be a bunch of people who comment say don’t give that stuff to your kid I don’t care Pia sure but yeah thanks Jason exactly get a sip of water hold on yep there’s rattle that stuff is the devil now I’m gonna go smoke my cigarette okay today is the last day of Kemo F Johnny let’s go congratulations skeleton want to see something cool take the gme prior run and place it on the current price you’re welcome you’re welcome actually thank you speedy recovery all right let’s go mess around with GameStop let’s go see what’s going on all right I want to see something cool take the GameStop prior run and place it on the current price I don’t know if I’m supposed to like I don’t know what you’re talking about bro I’m not seeing it my man I don’t know uh KT official M for two months hey BC backer you rock thank you very much uh meami says it’s going to be a froggy Wednesday for the community I’m preparing a tutorial in the form of mem meme okay let’s go so there you have it that’s what’s going on in markets today obviously the ethereum ETF stuff now the market is starting to price this in right so yesterday the market what we call it sell the rumor buy the news right and that there was kind of two situations Happening Here For ethereum One people selling uh with the expectation of a denial of the ETF and that so it was a sell the rumor buy the news rather than buy the rumor sell the news and then what would actually happen if it was a sell the rumor but they were wrong and the odds were better for an ETF approval and based on article seen yesterday it seems like that was the case and then of course everything comes out so there you go that’s what we’re at now we all uh now we kind of want to see the question is now do we have to have the ETF approval now has the market said hey we absolutely need it don’t know that this the story will develop more today uh in regards to filings that are coming from these ETF issuers uh and the opinions of people in the space so we’ll keep our eyes on that throughout today to see how that progresses but as for ethereum if you’re looking for like a price level to kind of get super encouraged by at least I mean just obviously the encouragement happens if we can kind of cleanly break above 2821 and and that gets us uh through all the retracement levels of this range and hopefully hopefully we can get this Market to actually expand in here um as of right now though we are back into retracements on total 2 total 3 did get out of the range that we were stuck in thank good holy guacamole thank goodness uh and we’ll just kind of we’ll kind of Go From Here expectations are probably that there’s going to be some some washing around happening in here but fortunately we got through the top so thank God otherwise stock market up for the Dow up 58 points which is 0.15% S&P is flat zero slightly green but zero uh NASDAQ is the one that’s down a little bit it’s down 42 points um moving over there to the actual stock losers or GameStop Roblox and AMC the winners or Tesla apple and Y Health we might have to end up removing these because these are just meme stocks we we added these last week when the The Craze was happening in here but I think we could just I don’t know if it’s relevant to have them in there every day maybe we’ll leave them in here for this week and then we’ll take them back out again next week we’ll see s says 2.6 th000 viewers the day after it ain’t over yeah know what did we get to yester earlier I think earlier we had gotten as high as 2900 maybe almost 3,000 to today so you know you get a big price move there’s going to be more interest more people tuning in on what’s going on what’s happening in there well the range finally broke all right came with a little bit of news uh the news also happened exactly when the price of Bitcoin was at the 702 Fibonacci retracement right so can’t get mad at that nice to see right there’s your news right there it is hitting it then it comes up and boom insert the news don’t worry you don’t you don’t live in a simulation don’t worry don’t worry maybe maybe a little bit all right there we go I think that’s it for the day guys uh uh nandini says Hey I want to build a business on The xrp Ledger but I’m not a developer and I don’t know how to get started so I’m going to Amsterdam Apex to find out I think it’s a great idea hope your son gets better and thanks for all that you do xrp Moon all right cool good luck thank you and it was very generous thank you very much um I think that’s a a great place to go I would go to uh Apex I would go um but from a traveling perspective and uh which work perspective I I’m pretty uh pretty beat on traveling and I’m not done I’ve got to travel next week and uh I think I I’ve just kind of reached the point where it’s always exciting to get to this time of year to get to that traveling but then uh when you get to the end of it you’re just kind of tired of traveling and so I I’ve kind of reached my Max uh I’ve kind of reached the max I want to spend on this stuff I don’t get to go to all this stuff for free I don’t get to attend all these events for free and get room and lodge and all that kind of stuff you know uh I think my total travel expenses this spring have been close to $20,000 and uh I’m tired of that I’m tired of that for sure so uh yeah and it’s work right and like it’s totally a lot of fun to meet everybody and do everything uh but I’m there to gather information and I’m there to progress things along so all right $3,800 for ethereum uh one more break to the upside uh takes it through all the retracement levels that’s the thing to keep an eye on throughout today we get more green returning back over here in the crypto market right now uh and hopefully this is the precursor to the big event hopefully the ETF does get approved uh because this signals way more than uh what a Bitcoin Maxi would want you to believe that Bitcoin is the chosen one because what this opens the door to is that altcoins matter and that can lead to a tremendous amount of speculation stories narratives irrational exuberance and crazy behavior and in my opinion an ethereum ETF represents that and steals all the power away from the Bitcoin narrative and that is that is something to truly say finally and that the nonsense of Bitcoin maximalism comes to a conclusion cuz that imagine the tears of crying imagine that there is there is no second best and bitcoin’s the only one there is no was crypto that’s not what Wall Street says so hopefully it’s what we get we’ll see what happens come uh Tuesday excuse me Thursday I do not know what will happen right all I could do is look at the pros and see what they say and try to reiterate that information to you and put you in the direction of it uh that’s what we did yesterday today now Eric rales the team they come out and they say 75% when they come out and say 75% probability now you see what happens to the market now we need to see the follow through come on Thursday so keep your eyes peeled for that in two days that we do get it otherwise tomorrow will be our big fat it’s Wednesday my dude’s day and hopefully we are frogging real hard but all right thank you guys uh so much for tuning in thank you so much for watching uh if you’re looking for some information uh detailed reports that we put together you could check out over here on uh substack is blockchain back. substack do.com is a newsletter that gets put out twice per month uh a lot of research and opinions on the market and you could check out uh the audio recordings that come in here they’re all usually about 20 to 30 minutes long in there I audio record them explain the charts there’s a lot of research in there on development activity user activity levels the things that mattered in the past Bowl run uh which what insights gave a better probabilities of things doing better what we’re warning signs to look out for tons of stuff in here tons of information you can just listen to passively in your car while you’re walking or hey man dive into it and read it along with me uh the link is down there in the description of this live stream and there’s a link that I just posted right there in chat uh also you can of course check out BCB backer.com which has over 40 videos and 11 hours of content in here deep diving into the historical behavior of the cryptocurrency market teaching you how to set up your own charts and indicators within trading View and coin Trader Pro got Elliot wave theory wof uh wof method in here historical Behavior secret sauce from the market stuff that improved odds and there’s a downloadable PDF file in here there’s a master file in here lots of these have their own individual files but there’s a master file in here Master PDF you can download uh print it out put it on your put it on your wall and stare at it all day whatever you want that’s over here on BC backer.com the newsletters at blockchain backer.com links are down in the description of this live stream otherwise guys uh David Cara says do we get an ETF frog if it’s passed sure on Thursday if the ETF does get approved well frog if the ETF gets approved later in the day then we’ll frog on Friday whatever it’s a celebration whether you love ethereum or not just the representation of an ETF for an altcoin uh should be a milestone in this market so all right guys that’s going to be it for this one thank you all so much for tuning in thank you so much for watching hopefully I got all the super chats and all the memberships I never intentionally try to skip over you so if I missed you I sincerely apologize but I do think I got them all um but that’s it thanks for watching if you could please like the live stream and give it a thumbs up thank you all for the kind wishes uh for my son too thank you very very much um if you’re new to the Channel Please Subscribe and hit the notification Bell so you can be notified of when I create new content and when I go live as always this is not investment advice and I am not a financial adviser but if you ever need a pickme up or a little bit of reassurance just remember that the blockchain backers got your back have a good one
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Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions. Any affiliate links in the description of these videos may provide a commission if you decide to purchase their products. I appreciate any and all support of my channel, and without you, I wouldn’t be here. Thank you.
Blockchain Backer Newsletter – https://blockchainbacker.substack.com
Blockchain Backer 702 Digital Art NFT Collection on XRP – https://nft.onxrp.com/collection/blockchain-backer/
Hi, I am the Blockchain Backer, bringing you the latest cryptocurrency news and analysis. The content of my channel primarily focuses on crypto news, motivation, and chart analysis on the XRP chart, Bitcoin chart, various Altcoin charts, and market cap charts.
CREDIT: “It Is Wednesday My Dudes”
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ZimoNitrome
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DISCLAIMER: I am not a financial adviser. Investing and trading is risky, and you can lose your money. The information in this video should not be used to make any investment decisions. You should contact a licensed financial adviser prior to making any investment decisions. Any affiliate links in the description of these videos may provide a commission if you decide to purchase their products. I appreciate any and all support of my channel, and without you, I wouldn’t be here. Thank you.