how’s it going everyone it’s Sam Black Rock saying you have one hour you have one hour I want to talk about that also talk about what’s happening in the market we also have some news on Tesla from yesterday they moved around a lot of Bitcoin and they did more than just
move some around they gave us an indication for what’s coming next we also have Max Kaiser talking about what Tesla’s doing we have shrimps selling Bitcoin while Wales are stacking G Gareth Solway is shorting the market uh a lot of reason to be bullish if you don’t mind hit
subscribe turn on the Bell notification underneath the CashNews.co so you can see future CashNews.cos just like this if you want to trade Crypto there’s a link to btcc underneath the
CashNews.co it’s a great platform where you can trade all different kinds of Crypto they literally have hundreds and hundreds of altcoins they have huge Liquidity
they’ve been around for over a decade you can get signed up with no kyc you can get started trading in just a few minutes check this out this is on the 5 minute here we have quite a little triangle happening a perfect triangle we’re seeing some lower highs throughout the day and some
higher lows I say black Rock’s giving you 1 hour a little bit tongue-in cheek cuz people love when Black Rock gives them a time limit but you can see we’re at 1920 here at about 2045 it’s the end of this low triangle now do we break out do we break down who knows but the fact is
the last 3 days we have seen massive inflows from Black Rock from Fidelity from Ark B so we’ll probably know here in the next few hours what they’re doing uh we also we also know that things are just looking more bullish for Bitcoin in general I’ll actually show a chart uh from
Plan B talking about like where he thinks Bitcoin is going to go are we too bullish now is RSI jumping up too much we’ll we’ll talk about that a little bit further in the CashNews.co but I would not be surprised to see some kind of shake out one way or the other either destroying shorts
or destroying Longs here in the next hour hour and a half 2 hours something like that so be ready for some volatility I’ll tell you that much now let’s continue on uh Bitcoin dominance approaching 59% that’s pretty beautiful someone that has over 80% of the
Portfolio in Bitcoin 80% of my Crypto Portfolio that is uh it continues to move up all of color: #1a73e8; text-decoration: none;">Crypto is doing well but Bitcoin just outpacing everything uh yesterday we did talk about Tesla the Bulls were talking about how Tesla’s gearing up to buy more Bitcoin the Bears are saying that where are your laser eyes Tesla’s probably
selling that’s what people are saying that’s what the Bears are saying right now all we know is they moved $750 Million worth of bitcoin for for for the first time in two years but if you go through the transactions there’s this transaction for a p a product purchase sweep this is
causing some people to think that they’re getting ready to accept Bitcoin as payment again they’ve said that they would do that or Elon said said that they would do that once the mining was 50% renewable I want to say and it’s much past that now Max Kaiser said he’s
depositing it at Howard’s new Bitcoin bank and he’ll use it as collateral to borrow I’m not sure what he’s talking about with Howard’s new Bitcoin Bank let me know if you know in the comment section below but it is interesting we’ll we’ll have to watch
because they do have their earnings next week just want to give you a quick update on that plan B says Bitcoin RSI is back at 65 so looking a little bit more bullish here’s a prediction in my opinion moving average RSI yellow line will reach about 75 plus in 2025 this means that RSI itself
needs to be much higher than 75 for a couple months because this is the average the moving average RSI so this is compar comparable to the bull Markets of 2013 2017 and 2021 okay so if we get
a another RSI of moving RSI of about 75 that means that he’s probably predicting that we see the RSI itself go up to maybe 90 maybe 92 to be clear even if we just took the RSI downtrend into account we’d probably be looking at around high 80s maybe 90 even for RSI keep in mind
we’re at 65 now back in the spring we were at 77 so we are still relatively far away we’re at 65 now and almost at the same price obviously the more we chop around the lower RSI goes so to get RSI back up to 75 we would have to have a pretty nice run I’m talking Bitcoin well over
six figures most likely depending on how quickly it moves up obviously but yeah uh Plan B saying we still have a lot further to go we’re not at that blowoff phase yet some people think that we’re actually overreaching you can see some uh some people are selling people with Bitcoin
addresses between 1 and 10 Bitcoin and all the way up to one Bitcoin so I guess 10 and less Bitcoin are selling whether you look at the last day the last 30 days or year to date they are net sellers the 10 to 100 Bitcoin yesterday actually bought a little bit 157 but over the last 30 days they are
net sellers year to date they’re also net sellers around 77,000 Bitcoin keep in mind that’s only about 1.5% of the Bitcoin that they hold compared to about 1% of the people holding 1 to 10 Bitcoin selling and then the wallets that hold 100 plus Bitcoin have been net buyers 279,000
Bitcoin added to their 11.8 million Bitcoin throughout the year so yeah they continue to stack more and more GE Solway is actually shorting Bitcoin right now let’s listen to what he has to say all right let’s go to a couple other charts here guys uh we got to take a look at Bitcoin real
quick Bitcoin Co I did initiate a small short let’s walk over to the big board here so I did initiate a very tiny starter position on a break of 68,000 today just using that very simply this lower trend line but in any case what we see here guys is that we have Bitcoin piercing 68,000 now as
of now that’s resistance and a lot of us that love Bitcoin might be like oh man it’s going to blow right through that well it may that’s not my job to know right it’s not my job to know my job is to recognize what resistance is and what support is buy support sell resistance
now if resistance gets confirmed above okay well now it can go higher very simple but again too many of us rely on emotion what our gut tells us what our heart is praying for you know all those types of things and those are big detriments to our success and so the more kind of agnostic you can be
where you are you are devoid of personal opinion and emotion the better Trader you will always be always okay now a lot of people would say this is so stupid we’re going to pump to the moon this is the Jim Kramer effect all that kind of stuff the fact is he Gareth is a Traer right he he does
make a good point you don’t want to be emotional right I’m not sitting here thinking that anyone that sells Bitcoin is an idiot we’re all in different situations I will say though that some people hear this that Gareth is shorting and if they like Gareth they probably think well
I’m not going to be buying Bitcoin at these levels Gareth expects it to fall down and that can cause them to miss out on buying some more Bitcoin and I think it’s going to do well long term Gareth might even say that too that the fact is not everyone listens to the whole CashNews.co uh
I don’t know what he said the rest of the CashNews.co but I think I’ve heard that he’s bullish longterm on bitcoin so I’m not going to give him too hard a time but I mean shorting the best performing ass in the world can make you money it can also lose you money pretty
quickly of course I’m sure that he has like a stop loss right above the resistance so yeah I guess I like paying attention to this stuff but I’m not going to give him I’m not going to sit here and say that he’s stupid for doing this or anything we’ve been rejected five
times here so for a Trader to see us go up to the same resistance you know sometimes they’re going to make a play on it now if he was shorting with a large amount of Capital and he had no stop losses or anything like that he was using leverage I’d say that’s
extremely risky um but to each their own if you want a short there is a way too short over on btcc because you can trade with leverage miles the shooter says Bitcoin in March $72,000 coinbase App Store ranking 20th Bitcoin now $68,000 and coinbase is now 440th on the app store price is almost the
same but retail isn’t back at all we’re going so much higher now I’m not sure this is the best signal in the world but it is something that people continuously look at here are some other things to pay attention to every bullrun has kicked off in October the election is 3 weeks
away and Trump will probably win this is all coming from Lady of Crypto China is printing money the US is cutting rates and they will be printing money soon Global Liquidity
is going parabolic unemployment is dumping hard economic numbers are almost all looking good black rock is buying heavy Fidelity is buying heavy Ark is buying heavy Hedge Funds are buying heavy we have Larry fin continuously talking about Bitcoin I could go on but it’s
obvious what comes next yeah in hindsight it’s going to look very obvious but people will say how could you tell it had to be just luck right but no it’s years and years of sitting on an asset that everyone craps on that there’s a ton of volatility in and we made it through
that’s what we’re going to be saying we’re going to be happy that we made it through hopefully some of us take Profits too you know some people never want to touch their Bitcoin but uh alt coins usually you should consider taking Profit now let me
know your thoughts on this underneath a CashNews.co again you can check out btcc underneath the CashNews.co you can also check out Marx there are links to other exchanges underneath the CashNews.co as well thank you so much let me know your thoughts I’ll see you all in the next one and
remember black rock is giving you one hour I should just say I should just say I know it’s a bit of a joke some people give me a hard time sometimes you know now we’re actually playing into it a little bit maybe I need to make like a black rock is giving you one hour hat or something
like that let me know in the comments if you want that but uh I do think it’s important to remember we don’t have forever like it seems like we have forever at certain levels and then we just lose them forever we we’re never getting back to $220,000 Bitcoin in my opinion but in
the bare Market seemed like we had forever to buy Bitcoin at $2,000 under $20,000 we had like six months just like we’ve had six months to buy in the 60s now maybe we get down here in the bare Market again but remember these little like black rocks giving you 24 hours 1 hours 2 hours if it
helps you buy some more Bitcoin nonfinancial advice here it’s probably a good thing thank you so much for watching I appreciate I’ll see you all in the next one bye
CashNews, your go-to portal for financial news and insights.
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