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Wall street is making huge bets on bitcoin and crypto right now, both on the investment side and of course, on ETF flows. People are starting to talk about super cycles again, even though we had a very small retrace tomorrow. And one of the hottest topics right now is the newly minted debasement trade that everybody seems to be on board with, which could buoy bitcoin and send it to prices of unimaginable by the end of this cycle, whenever that will be. I'm gonna definitely tell you exactly all of those things on this solo show before Chris Inks comes on in the back half right now. Let's go, let's go.
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Let'S go.
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What is up, everybody? Fellow members of the Wolf Pack, happy Wednesday. I hope you're all having a wonderful morning after the bear market of yesterday. I hope that you all survived. Bitcoin price dropping as low as almost $120,000. $120,000. Unimaginable lows for an asset like bitcoin. That should be at a million dollars by now. I. I don't know if we're going to make it, honestly. I know some of us will make it, but I'm not sure if all of us are going to make it. It dropped to prices not seen since three days ago. I mean, really, truly brutal bear market. Of course, I'm being slightly sarcastic, which I can do when I decide that I don't want to have a guest. And I just want to talk a lot of smack with you guys before we get started. You are contractually obligated to like and the video and to subscribe to the channel. If you don't do those things, literally, just leave. I don't want to be your friend. I don't want you here. I don't want you in the comments because you're not contributing. I asked you one thing, one thing, and that's to help me boost the success of this video in the algorithm. And yes, at the end of the show, we will have Chris Inks, who's going to put on his Oracle hat and use his crystal ball and tell us exactly where prices are going. We have a lot of topics to dig into today, but first, I want to start. Start with something very important. It's this. The word of the day, kids, is debasement. Can you say debasement? Say it with me. Debasement. I can hear all of you saying it through, because this word. I don't know if the Grand Council of Bank Wizards got together and decided that the Debasement trade was going to be a thing as of this week, but everybody's talking about it. Here's the definition of debasement. The action of reducing the quality or value of something. It's funny because I actually thought it was where my altcoin portfolio has gone to debasement. Do you remember those jokes when we were kids? Most of you might not be my age but where you would take a word and there'd be a funny word. We're not allowed to tell them anymore. One of them which was very benign. I'll tell you as I'm looking at debasement where my, where all coins are living is that the teacher asked little Timmy to use a word in a sentence. She said well can you, can you spell the word first? Actually said before. And he said yeah, it's easy. B E F O R E. And she said that's right. B E F R E. And she said can you use it in a sentence? And he said two plus two. Before we used to have a lot of jokes like that. Some of them leaned a little more racist. But we're like that debasement trade. But here we are, the debasement trade. Let's go through it first. We got. Well that was on the right spot there. Fiscal fragility fuels long term bitcoin upside. Bitcoin advocate Paul Tudor Jones. Paul Tudor Jones said they're going to debase the dollar. They're going to print money endlessly. This will be good for bitcoin, this will be good for gold and this will be good for the nasdaq. They're going to debase which means debase currency, print money. Yeah, here it is. Very appealing as bitcoin heats up. But it's not just him. We have some of the biggest names all of a sudden coming out this week. Citadel founder Ken Griffin warns of run from dollar into bitcoin and gold as both assets hit new all time highs. Yes, that Ken Griffin, that Ken Griffin we're talking about right now. We're gathering together the like all of the leaders of the Galactic empire and apparently cheering for them because they all think bitcoin is going to go up the debasement rates. Not just them. JP Morgan. Yes, that JP Morgan sees Bitcoin hitting 165,000 by year end on retail led debasement trade. And listen, we have to report on this stuff. I'm super excited if we see these banks send our bags to the moon. But watching bitcoiners have a JP Morgasm over news about humongous banks coming in. And I won't say co opting so I got in trouble for that. But participating in our asset class, cheering for it when you know they really do want to co opt it and they can't. But they would love to co opt it and control it. Man, it's really getting hard for me to cheer for all of these people. But we do see the debasement trade in action whether in bitcoin or not. Look at gold. Look at that chart of gold. Gold. The most boring thousand year old pet rock that our parents talked about burying in the backyard. Because they've also been talking about the basement for the last 30, 40 years. Trading at $4,045 a rock. Gold wildly outperforming bitcoin. Let's be honest. Mike McGlone will point that out to you.
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And.
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And why is that happening? It is be happening because of the debasement trade and it's happening because central banks all around the world have said enough of these trash United States bond this trash debt that you're trying to pawn off on us for our central banks. We're just going to go ahead and buy gold. And yes, some of this is obviously driven by retail. A bunch of people fomoing in. That guy in India with all the chains that we always see the meme about who says that he's in it for the tech. You guys are that guy. I would find him but I don't have enough time for that right now. But gold, $4,045. And that's because Central banks have had enough of our debasing currency that we are purposely debasing and are trying to find something else. We heard the BRICS narrative for years. I think that's nonsensical because they can just go out and buy gold. Now. Our friend Jeff park who's often on the show here made a really good point that I like. He said, I don't like the term debasement trade. It implies the unwanted erosion of something durable and righteous. Righteous, dude. What's happening is the opposite. Everyone is learning to gravitate towards something valuable and permanent means bitcoin. We're long the purification trait. To which I obviously had to respond. Respond with Prince from Purple Rain saying you have to purify yourself in Lake Minnetonka. He also said it twice in the first sentence which is more quoted. He said you have to purify yourself in the waters of Lake Minnetonka. And those who haven't seen Purple Rain. Dave Chappelle made fun of this, but you should watch it. Apollonia, who's his love interest, he makes her jump in the lake and then she comes running out, it's freezing cold. And he says that that wasn't like Minnetonka. And then he peels off on his motorcycle and leaves her there. That's things that you could do in movies in the 80s that you're definitely not allowed to do any more. But is debasement the wrong term? Is this really a purification trade? I don't know. The fact is that the entire world is clearly catching on to the idea that the dollar is trash, cash is trash, and that you need something better. And every single one of these, even the big banks, has included bitcoin in that list of things that might be something better. Pretty epic. I really can't go back a year, two years especially. I couldn't have imagined any of this. I mean, didn't we just have Morgan Stanley yesterday say that crypto should be 2 to 4% of your portfolio? I remember coming on this show and salivating over the idea that Larry Fink and Blackrock might one day say that bitcoin should be 1% of your portfolio, which they've long said to registered investment advisors. Morgan Stanley, 2 to 4% of your portfolio should be crypto. I don't know whether Morgan had that idea or Stanley, but we need to send one of those guys a fruit basket. Do you ever imagine that Morgan Stanley are like the two guys from Trading Prices, Trading Places, Randolph and Mortimer Duke. That's how I. I don't even know if Morgan Stanley are two guys, but if they were, that's how I would, I would picture them. Randolph. Randolph. Okay, the next humongous, big, tremendous, ridiculous story of the week. S p unveils digital markets 50 index tracking crypto and blockchain stocks. This new S and P index will track 15 cryptocurrencies and 35 blockchain linked stocks, signaling deeper integration of digital assets into global markets. So I haven't seen these guys, Charles and Charles, they're two guys from S and P. I've had them on the show many times years ago. And they're the heads of all digital markets at the S and P. And they've been telling me for years, Chuck Mount's one of them, that this is coming and here it is. They will be able to actively create an index fund that people will be able to gain exposure to both capital markets and bitcoin. Bitcoin and actual tokens. I think the tokens have to have a 300 million market cap and the stocks they include have to have a 100 million market cap. I actually believe that this is going to be a monster. Huge, tremendously big market. But the part that seems to have gone completely unmissed, I can't see anyone talking about it. And I dug into this for my newsletter this morning. If you guys don't subscribe to my free newsletter, it's literally free every day. I've written 1200 of these 1200, 1200 newsletters. Do you read it? Can you read? I don't even know if you can read. I don't want to take for granted that you can read. But half of the intro today was about this very news. Look at this quote, my favorite part of the announcement, which I saved for last denari. A leading provider of tokenized US public securities has collaborated with S and P Global on the index design. And we'll create a token tracking the benchmark, as I said. That's right. There's going to be a token you could actually buy that tracks the index. Can you believe that? How crazy is that? How crazy is that? So you have the S and P, which is one of the largest financial institutions in the world. They're the masters of the index. This is literally what they do. Going all in on crypto here. And this will be the first, as we know, of many products. And not only that this product will be tokenized for people to trade who will be able to trade it. I have no idea where that token will be available. I have no idea. But holy crap. This is absolutely massive monster humongous news. And the other thing that's master monster humongous news, that's not necessarily bitcoin per se, but it's certainly crypto. Adjacent and is certainly huge is the fact that Poly Market, Polymarket, we are excited to announce that Intercontinental Exchange ice, the parent company of New York Stock Exchange is making a 2 billion strategic investment at a 9 billion post money valuation in Poly Market. Now you might remember I wrote about this as well. Today Poly Market is not even available in the United States. Okay, still still not available in the United States. Right? That's number one. But what's even crazier is that they were just fined three years back $1.4 million and issued a cease and desist order. The FBI raided the home of Shane Copeland, the CEO and seized devices as part of their DOJ CFTC probe into alleged user activity. They've been fighting against the United States and specifically the last administration endlessly and it didn't even look like they were going to make it. And now you have ICE investing $2 billion. Now I was surprised as everyone else that those guys that run around in masks arresting illegal aliens in the United States and deporting them back to their countries were investing and had $2 billion. But here we are, man, it's 2025 and anything can happen. Of course, it's not that ICE. It is international, it is this other ICE. You know, as we just discussed the International Intercontinental Exchange, my brain froze there. And they own exchanges all around the world, including the New York Stock Exchange. But this is the most 2025 thing where things that could not have possibly been on your bingo card in 2024 start arising. And not only that, I don't even have the news here, I don't think, but polymarket also just announced that they're allowing for bitcoin deposits. Bitcoin deposits. So we always knew you could use crypto on there and Americans couldn't get it. But now they're accepting bitcoin in yet another step towards institutional mainstream everything adoption right now. But not everybody is super on board with tokenization and what the S and P is doing and tokenized stocks. We're actually starting to get a hell of a lot of pushback all around the world on the idea of tokenized equities and all of the risks. And I think as much as I want to be on here, I don't know what, there's some game down here called Snorter. It's being advertised. Oh no, I gotta get that off at some pre sale. Sorry, Snorter. Snorter. But yeah, many of these tokens lack ownership or voting rights, exposing investors to counterparty risk. People are wrapping the stock. Who really owns the stock. There are actually a lot of issues that we need to work through here with tokenized equities that are not really being discussed. And we may be getting a bit out over our skis, but that's what we do obviously in the crypto industry, we get way out over our skis and we start doing things and we break stuff and then we FTX and yeah, I mean that's how it goes. But the reality is is that one way or another, this is definitely all coming. There's absolutely no question that everything will be on blockchain rails because it's better, cheaper and faster. And when you ask what could possibly be driving price or what actually matters now? Third highest Bitcoin ETF inflow day ever. Yesterday after booking their second highest week of inflows since reception. So second highest week ever last week, third highest day. Yesterday I think Monday was the second highest day or maybe even the first highest day of all time. This ETF train, it is not slowing. And when people talk about the four year cycle or what comes next or who's going to buy this stuff or how can it keep going up, you really just need to look at liquidity and flows which are probably the next two catch words after debasement.
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Debasement.
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Historic inflows. Right now I bet number one in those weekly flows among all ETFs. Oh by the way, also the most flows of any ETF anywhere on planet Earth. BlackRock's IBIT 3.5 billion which is 10 of all net flows into ETFs. So let's get that 3.5 billion in weekly flows and there was only 35 billion in weekly flows into all ETFs everywhere. Also notable is the rest of the 11 OG spot Bitcoin ETFs all took in cash in past week. Even GBTC. Somehow that's how hungry the fish are. Two steps forward mode. Enjoy it while it lasts. That sounds bad, but Here we go. ETF season's heating up. Salon ETFs on October 10th locked in. We're getting staking ETFs for Solana and ETH from Grayscale Canary filed final S1s for Litecoin and HBAR ETFs. Those are coming immediately. Granite chairs adding three X levered ETFs for Bitcoin. Eat Solana and XRP. We're doing it again guys. You're doing it again. If you want to know what can put in the top even amongst all these flows, it's going to be treasury companies taking on unnecessary risk and jackass moron idiots using 3x levered ETFs. Bitcoin's bad enough. Eth pretty bad. Soul horrendous. XRP disgusting. Not because of the assets. I'm not saying XRP is disgusting. That's up to you to decide. I'm saying with the volatility of altcoins, having 3x levered ETFs is absolute insanity. It's stupid. But hey man, let the kids play. I think we had like 30 ETFs applied for in a single day or something like that. Absolutely insane. And it's not only ETF flows right now. Over the past quarter short term holders Supply increased by 559k. Bitcoin rising from a low of 4.38 million to 4.94 million Bitcoin, a significant volume of new buyers entered the market here. We have proof. It's right there. It's not the highest ever been, but short term holders are adding a lot of that is we have ETF flows, but this is people actually buying bitcoin, not just buying the ETFs. And you have to imagine a lot of those ETF flows are also retail as well. The bottom line is that as we've seen over and over and over again, we're just getting really, a lot of people who couldn't buy bitcoin or didn't want to before finally fomoing it. Now listen, if you're on Morgan Stanley, you still don't have access, right? Vanguard, you still don't have access. A lot of these platforms you still don't have access to. You might be able to buy ETFs, but you certainly can't buy spot bitcoin if you want. That's all coming. We've talked to Matt Hogan, who will be here tomorrow many, many times about what percentage of retail investors in the United States probably still don't have access. I think last time it was still 30 or 40% of the people in this here United States who might have wanted to buy Bitcoin through one of their traditional platforms, unable to do so.
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Traditional.
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Really meaningful that we're seeing this happen and that it's slowly, slowly, slowly unlocking another huge piece of news today just in. UK retail investors will be able to invest in Bitcoin ETNs from today. It's like aluminum, aluminium. The British say things stupid and they call them ETNs instead of ETFs. They're obviously ETFs but they call them ETNs because they pronounce things dumb. And that's just how it is. But UK retail investors actually had been blocked forever because the uk, which is notoriously famous for freedom of speech, you can do and say anything there. It's the opposite. But they not surprisingly were banned from being able to invest in these bitcoin products which they will now be open to. We've seen what these flows do. Seeing what these flows do. Someone said we lost Yaga Yago's. Tomorrow he will be here with, with Matt Hogan. I'll be here with Matt Hogan. But yeah, retail investors in the United Kingdom are going to be able to finally participate in all of this. Guys, listen, there's a lot of reasons you could look at a bitcoin chart and you could definitely be like that looks toppy. As like I showed, I've been kind of sharing them. I can look here. Let me see if I got the chart here. Like, you know, we had this major fomo. I tweeted that we're extremely bullish at resistance as usual, but we had overbought conditions. That's the four hour. Here's a six hour bearish divergence, literally everywhere. Like, it was obvious that we were probably going to get some sort of retracement, but all we got was this so far. And we're back up at almost $123,000. It feels like they're going to print a whole lot of money and people are going to buy a whole lot of bitcoin. And speaking of buying a whole lot of bitcoin, I know you guys need the upd. I did it. I set up Arch Public. We were talking about it yesterday. I set it up on Robinhood yesterday. And they were doing all these parameters with me that I was specifying and I was like, guys, I want to buy a lot. Like, I want to. I want to. I want to be firing on the hourly. I'll add more money. I just want to get this thing going. I want to feel it. I want to feel the rush of getting emails and alerts. And I set up two more algorithms after the meeting, after yesterday's show, I got on with their guys. I set up two more Oracle algorithms, which literally will buy me like 1%, 1 1/2% moves. We fired off three times yesterday. Fired off three times yesterday. Here is one of them. You can see it was buying like $5,000 worth of Bitcoin at a time. Buying 2. 2600 worth of E. 2600 went ahead. Here's my Robinhood fired off about $32,800 worth of buy orders on the dip. Now, remember, my goal is to buy stuff at a discount. I started this when bitcoin was over 125,000. I was buying in the 121s and low 122. Now Robinhood has a 0.85% spread, so I was buying a bit higher. But once I hit 50,000, that'll be 0.25. And we're going to work on negotiating it lower once I hit 5 million in volume, which I will. 0.1. So just for complete transparency, this wasn't buying the dip as hard as you would expect with the 0.85. But they have no fees, so they're spread, you know, so like, if price was 121.9, I'm buying at 122.9 basically right. Which feels bad at first, but then you realize you're paying fees on any exchange and there's no fee. But that is going to come down massively and this will improve. But of course up about 1% on those dip buys from yesterday right now. But if I keep it up like this, I'm gonna have to add a whole lot of money to this because I use basically a third of my stack. Just fired it right in yesterday. And I'm pretty excited about that. As long as we don't go into the depths of a bear market and we're all dead and price goes back to 40,000, 50,000, then that's what it's going to be. Stoic surfer says some of your best pods are where you riff solo. This used to be my show. This used to actually be my show. And then I started just having guests all the time, which is easy and a bit lazy. And then last week, was it Wednesday or Thursday? I think it was Thursday. My guest canceled last second and Yaga was in Singapore. And like three minutes before the show I was like, okay, what's the news? And I brought up a bunch of story and I. We just rift ripped it, you know, like today. JP Morgasm, that was fresh off the dome of my head. Fresh fresh. Like I never thought of a JP Morgasm until today and I hope I never do again because I don't want to ever have one, you know. But I figured that I didn't have a guest today booked by yesterday and let's do a solo show. It's a good time, but in just a matter of minutes we will have Mr. Christopher Inks joining. Man, there are some wild price action as I look at this. I can't wait to see what he has to say about these gold moves. We've got this monster silver move. I mean, silver's about to cross 50 bucks. Maybe this is really the debasement trade happening. But what's crazy of all of this, and I didn't really dig into it, is what's happening with bnb, right? Bnb. Do I have the chart up here? I'll bring it up one second. I mean, bnb, like no bear markets, no retracements, no nothing. This thing only goes up. But what's crazy is when it topped a little bit there for a Second, it said 1300. I guess it got to 1350. So very near top. But I think I saw today, I mean, asters ripped, which I know very little about. Hyper liquid competitor, obviously on finance. But Meme coins on BNB apparently been going crazy the last few days. And whatever the Meme coin platform just launched on BNB is called, it surpassed Pump Fun already in volume yesterday. So I think it's important to note that there are alt seasons happening. They're just not on my alts which are participating in the debasement trade. I do have some alts that have done exceptionally well. But like all these alts we've been holding. I interviewed Arthur Hayes last night. That'll come out on Sunday. Set a million dollar bitcoin this cycle could happen. And I was like, yo, give it to me straight, man. All season he's like, there's been alt season this whole time. What are you talking about? But I was like, can we throw a D? And everything goes up. And he was like, yeah, that, that's done.
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That's that. Yeah.
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I would like you to know that Valerie said that this chat group used to be so fun. Now it's just full with bullying and negative. Hey guys, shut up and stop offending the people. Be nice to each other in the comments. Don't be assholes. Now you just fight about politics. And I guess I had the audacity to make an ice joke and ruined it. But. Oh hey wait real quick. I just found this tweet. I knew that I had it somewhere. Just to show you that I'm not making stuff up. BNB Meme Coin Launchpad for Meme Flips Solana Launchpad pump fun in 24 hour revenue. Clearly there is an alt season going on somewhere in this world. It's apparently just not where I am and I don't have the time or energy to go figure out how to use Meme Coin platforms on bnb. But I'm happy for those of you who do. Before we move on to Chris, I just wanted to reiterate. The wait is over. World Liberty Financials USD1 has landed on Aptos. Aptos is now the third largest chain for stablecoins. Learn about the ongoing campaigns happening here now from across the Aptos ecosystem. Give Aptos a follow. They are obviously our amazing, ridiculously cool, super sweet sponsor. For now. 10 months, I think. 10 or 11 months. It's right up there. Go learn more stuff about them. And now to bail me out for my solo ramblings, one and only Christopher Inks. How you doing, sir?
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B
Hey man, how are you doing? What's going on?
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I don't know. People don't like, I bet. Apparently I'm reporting on News that happened days ago. It's not reporting on news.
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B
It's.
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It's weaving a thread very deliberately, because I'm not winging it at all, very deliberately between stories new and old to create a narrative. I'm the media. That's what I do. But anyways, we had. It's over. Bitcoin had the. I mean, it went all the way down to $120,658. I mean, that's a really low, scary, terrifying price.
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It was tough. That was tough. Yeah.
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I mean, did you make it? Like, I was gonna wear my I survived the bear market of 10-7-T shirt today, but I forgot it.
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B
Well, that's all right. I'm sure you'll have another one to wear pretty soon as well. I mean, if we're looking at here, you know, really nothing that I haven't been talking about. You know, it just continues working as we've been looking at. I think we've got one more push higher up here toward this 129, 130 area, and then a pullback right back down here to this low, you know, as far as the next move goes. So we kind of get, you know, get everybody breaking out. You know, everybody's convinced that the top's in here. It's come back. I can't believe the number of people calling tops that I see again already. It's just getting ridiculous. But, you know, we're looking here. Let me zoom into the four hour here real quick.
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I had the audacity to call a local top, though. I'm just saying.
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Well, local tops, fine. Yeah. No people out here.
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There's bearish divergence everywhere. Four hour, six hour overbought. You know, you taught me that. So.
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B
Yeah, yeah, yeah. But I mean, this is. This is pretty clean right here. Right. Pulled back, you know, to the weekly pivot, you know, kind of doing some sideways here as you get that. That move from supply to demand and boom popped up. So we want to see some fall through. We want to see a breakout here above this swing high around 125, 184. And if we get that, I think we're looking up here again around the 129, 130 area. And I'm not guaranteed it's going to stop there. I think it should stop right about there and we'll look for reversal. And if we can get that, we'll look for it to pull right back down here around this 121 again, and then everybody can call the top again and Say that the cycle's over again, and then, you know, we'll just kind of these breakout traders that we get here will, you know, take their money from them as it comes back down here, and then everybody will go short, thinking the tops in, and then we'll take all their money as we go back up again and do its thing. But, yeah, I don't think the top's in yet. I don't see anything, you know, in the way of structure that says that at all. And so I like. I like the way it looks at the moment here. So we'd like to see this move up and pull back down here now after. That's a good question. You know, normally what I would say after that is we get like, you know, a fifth wave up here and then we pull back. But with as long as we've been going sideways here, I mean, effectively, we've been sideways since back over here in May. We were sideways here and then we broke up and then we get this range that's sideways here. So that's a long time. The longer you go sideways, you know, the longer you consolidate, the bigger and stronger and, you know, further that breakout goes. So I could potentially see us, you know, overextending here. You know, once we get this, if we get the rejection that I'm looking for up here, around 130, 132, maybe even somewhere right around there, and then the pullback down here toward 121, you know, instead of just getting up here, maybe at 135, 137, I could see us maybe see that fifth wave overextending up here toward 155. We'll see what happens. I'm not guaranteeing that's what's going to happen, but, you know, again, with the size of this, the length of this sideways here that we've had, I would not be surprised to see that overextension happen on that push up there. So we'll see what happens. But overall, not hating it at all. You mentioned Big BNB Miss. One of my favorite tweets that I've had, because back over here, you know, I mentioned was that December 3rd of 23, you know, I basically said, wouldn't it be a shame if we were to go off? Because this was the point where everybody was screaming, you know, this was with CZ and Binance and the US Government.
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All that he was going to jail and finance wasn't going to exist and it was going to be over. Yeah, rational points. Like, if you thought that BNB As a token would be banned or something. But hey, here we are.
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Exactly, exactly. And you know, and my thought was no, we're going to go up. And so I did that. You know, it would be a shame if it just kind of cleared the path this, this push right here. And we were to go and yeah, we've gone. So I mean had you gone long at that point and held on, you'd be up 5x so not, you know, not one of my strongest calls. You know, it's been what, about two years almost. But I like it just because everybody was so bearish right here. It was such an easy call to talk about it heading up and you know, again up here already almost fourteen hundred dollars. Absolutely insane. So really liked that BNB thing from there. Ethereum, I want to talk about theorem real quick because it's, it's a lot similar to bitcoin. You know, again looking for this, we pulled back mid range here. We're getting this bounce. So once again zooming into the four hour there. Not quite as exciting as, as bitcoin's four hour at the moment. But you know again I'm looking at this as like a flat correction here. So you know, A, B and then C down here looking for this to rally up. So if we can get some follow through here. I do think we kind of head up here toward just, just breaking the all time high up there right there around you know, maybe $5,000 and then I would expect a pullback down here toward this 44, 4500 and then we take off, you know, towards 7000. So still liking the Ethereum setup. It's, it's been so funny this cycle how anti Ethereum everybody's been, right.
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A
I mean until we got Tom Lee it was, but I mean it was brutal.
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B
Yeah, exactly. And you know, and you and I've been talking many times on here we go, right.
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I mean we, we were talking about that the same way you were talking about bnb. It was just irrational beat down.
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B
Yeah, exactly. And you know, and then it did that huge move and hopefully some people made a lot of money in a very short period of time there. And then now, you know, all of a sudden it's a very big oh my God, it's the end of the world. It's, it didn't break out right here, you know, and I don't think so again, I think we've still got from this area here. I want to see this kind of continue up here, but I think we've got that move up toward that five again, get kind of those breakout traders trapped in there, come back on them, take their money, everybody goes short, then come back in there, take their money and then send it back up. Similar to what I was talking about on, on bitcoin. So don't.
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A
Yeah, I mean the first, the first shot at a new all time high is, it's really, really tough. Yeah, getting right up there and getting rejected is not unusual. It's happened over and over and over with bitcoin by the way. I mean it even happened in the last bear market. 65, all the way down to 28, back up to 69. Swept it in new bear market. Right. Breaking new all time highs can be high. I think it happened at the end of 24. Right. We went up to like 110 and then way back down, then swept it and all the way to 74 and then made new highs.
- [33:43]
B
Yeah, yeah. Well you know it's like when you got to bitcoin and everybody's complaining about oh look, it can't hold 100,000 because it kept kind of bouncing back and forth through it and what it's been 140 somewhat days above a hundred thousand now. And yeah, you know, people just want, you know, people are irrational. They just want those, those, you know, they want the breakout, the guarantee instead of understanding how, you know, liquidity works, you know, on your charts in those markets. So it is what it is. But anyway, you know, again I, I think the setup's there. We just need to see a little bit of follow through here to get us heading up there. So as long as we're above on, you know, on these daily time frames, as long as we're above these monthly pivots here on, on ethereum, that's around 42, 44 or so. You know, as long as we're above those we should be thinking higher overall. Now if we get an impulsive breakdown and close through it, well then things start looking a little different. And I look down here toward you know, 3724, potentially sweep that low and come down there. But you know, while we're above it, generally speaking we should be looking for higher. So again I like the setup there. Three quick alts here, I'm looking at ACX is interesting. We've, we've kind of pulled back up here toward the, the pivot here, the weekly pivot. So this is the four hour time frame. Really what we need is a breakout above this 0.1236. That's going to add confidence to this idea where we'll have you know, we'll be looking up here around 16 cents as the target before we get a decent pullback. But right now, locally here we've got this big four hour fair value gap. So I mean if you can get a four hour candle to close above the top of this fair value gap here, which is right there at 12 cents, you know, that would even be quicker than the 1236 here as far as indicating the low is likely. And you can look for a four hour candle, just an impulsive breakout and close above this 0.117 to give you an even quicker idea that the low is probably in. But I do like the pullback pulls back right here to this previous resistance support area here. So it's, it's absolutely where you would expect it. You know, high volume ledge there right back up into the low volume node here. So we should kind of pop up on through that head there. But decent little target up there for that. Tom, I've got CRV here. CRV is also interesting. This is the daily time frame. We got the breakout. This looks like a bit of a wedge here. We do have this breakout, you know, with some volume and larger candle spread through that descending resistance. Rallied up toward the R1 pivot there. Rejected. Pulled back down here to the pivot, finding support pivot. That descending resistance there. Doji candle, I mean it's looking pretty good overall to be. So I think, you know, overall my next kind of general target here is right up there around A$9. And if we're getting up there, you know, of course, you know, we might pull back before we break out, but ultimately should break out ahead higher. But I do like the setup. I do like the, the bit of the run here, the bit of that rally again, it pulled back right to where you would expect it to pull back here, which is all again just part of this right here. So again you look left. All the information you need is on the chart, right? Everything you need is on the chart. Low volume node. I mean everything works there. So looking for that to hold right here. And if it can hold here, we'll get that pop. We should ultimately be heading up there. And then finally a blast from the past. Dash. I remember that first time dash was running up and 200 and 400 and all that. Absolutely fantastic. This is a great push right here in September. It's great push up. We came down. Here we go. Looks like. I love the volume and the price action through here. You can see especially from this, this Push up in the swing high, this pullback, that volume just drops off. That's what you love to see as it kind of prints what appears to be a spring here. So on this four hour you get that the spring at the low here you've got a bullish engulfing candle Tom pushing back up and really, you know, again just kind of coming to this swing low area here. So I like the setup here. I think that's probably a spring. If we can get a four hour candle, impulsive breakout and close above the weekly pivot here at 32.17 that's going to signal the low is likely in breakout above 38.36 is going to add confidence to that being complete. And then we've got a 40, almost a $49 target up here based on the, the height here of this pullback. Nice little price action target there. So this does look like reaccumulation. This does look like a spring here. And so now we just need some follow through on this. Now if it doesn't, if it does happen to break on down here, I would look here around this 2450 area as the reversal point. But so far it's looking good here on the four hour. So those are the charts I have right now. Those are the ones I'm watching and what we're looking for as far as all that goes.
- [38:49]
A
But I think how about the most bullish chart in the history of mankind. Gold.
- [38:54]
B
Look at that man.
- [38:55]
A
Gold cup and handle, by the way. I mean when you look at it, it's like really astounding.
- [39:00]
B
Yeah, yeah. Here's the one thing about commodities. Commodities. You know, again, if we're talking in terms of how people are right, which is identified through, through Elliott Wave, then what we know about commodities is usually you get that really vertical movement on the last, on the final wave, on the fifth wave. That doesn't mean it's done yet, but you know again, you usually get it going much more vertical there from that. I like your little coffee cup.
- [39:30]
A
Classic technical pattern. I was listening to you. I'm just a, I'm just. I know you're God tier multitasker. I just wanted to show people.
- [39:37]
B
Well, you know, and, and you know, I've been bullish on gold since. Gosh, what since. Well, publicly since really since 2018. You might remember when I was talking about it back then.
- [39:48]
A
I've been bullish on gold since the Spanish Inc. Was like.
- [39:53]
B
But yeah, but you know, we were talking about 4 000. So we've got 4000. Now, back on silver a few years back, I was thinking we might get lower. We, you know, we dropped below $10. I was thinking we might get, you know, a little bit lower. We didn't, we turned and then I changed and you know, I started talking about 50 hitting that, you know, that all time high area. We're just about there with that. I mean, so, you know, no real surprises with anything that's going on here. You know, my other thing is I was talking about the Dow probably hitting at least 50,000 before, before we get any kind of recession or anything. We're pretty close to that. You know, we've been up there around 45, 46,000. So, you know, everything just kind of working as, you know, as you would expect or at least as I was expecting. The funny thing is you get, you know, as you know, you get a lot of hell when you make these calls when things are a lot lower. And then people tend to forget when they get hired and then you remind them like, oh, look at you, you're showing off. You're, you know, you're whatever.
- [40:52]
A
But no, I have no idea what you're talking about. Nobody ever says anything like that. Hey, jerk offs. Most of your calls over the past five years are wrong.
- [40:59]
B
Oh, that's funny. That's funny. You know, you really got to wonder, you know, people that, that lash out like that, you know, you got to wonder what happened to them, why they're hurting so bad that they feel the need to be, you know, silly like that. But, ah, you know, people be people. No skin off my back.
- [41:18]
A
It's fine. Well, guys, we'll have Chris, of course back next Wednesday. Maybe I'll be solo before him. Maybe I'll be more responsible and buttoned up and put together with a guest. We will see. But Chris, where can everybody check out everything you're building, man?
- [41:33]
B
Of course y' all can come on out to members.texaswestcapital.com we'd love to have you there again. You know, we do, we do a lot of calls with a lot of amazing calls, BNB and others like that. But the real, the real thing you get there is just learning, you know, how markets actually move, how liquidity flows through markets and you know, not these one offs that a lot of other people out there are telling you. So we'd love to have you there, we'd love to bring you in and kind of teach you that you can do this yourself. It's not, it's not, it's not difficult, but it's you know, it's not easy, was it?
- [42:03]
A
How many years now is the anniversary? Seven years. Eight years.
- [42:06]
B
Eight years, man. Eight years. Yeah. Since 2017. So. Had so many, so many amazing calls during that time. Best one we did real quick, man.
- [42:17]
A
No, you jerk offs. No, you jerk offs.
- [42:20]
B
5 we did naked a few years back. N a KD. It was like around 8 or 10 cents. And then, you know, I talked about that in there and that thing ultimately went up to like $52.
- [42:31]
A
We did, yeah. You're not remembering the trig.
- [42:36]
B
Trig. Oh, trig. Yeah, Trig is what started. I always forget what that one's called.
- [42:41]
A
It was some, like, putting guns on the blockchain or something. But we pulled like.
- [42:45]
B
Yeah, Yeah, I said a 10.
- [42:49]
A
Or XRP at Pennywise.
- [42:52]
B
Yeah.
- [42:53]
A
Tron. When it was trading like in sats as like one of those, like, low sat coins, it only moved one set and it was like 2000. There were some big ones, man.
- [43:04]
B
Xvg. Yeah.
- [43:05]
A
There's a whole bunch of really SVG listed on Pornhub. You remember that?
- [43:10]
B
Oh, my God. Yeah. So much. So much news that we listened to back in the day that was really. Ends up not being much of anything. But that's why charts kind of lead the way, right? That's.
- [43:19]
A
That's. That's why we. That's why we need you. Yeah. All right, guys, thank you so much, Chris. Thanks, man. Always fun going down memory lane. We will see you guys tomorrow. I got Matt, Hogan and Yago. Peace out. Bye.
- [43:31]
B
Awesome.
- [43:32]
A
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