Alexander Lorenzo breaks down Bitcoin bouncing off support and why he's accumulating altcoins before a potential breakout. He ties price action to Trump's tariff comments, an expected Fed rate cut around October 29-30, and a future "Clarity Act" that could drive new all-time highs.
I'm genuinely excited to see how many new people are going to make their first million dollars after Bitcoin bounces off of this support level. Eight years of trading has brought me to this moment. I will be making the most money I've ever made off an altcoin cycle after this bounce because we almost broke through. It was really close. We almost broke through, and then the opportunity would have been off the table completely. Now I have time to accumulate as many altcoins as I possibly can because when we bounce and break through all-time high, it's going to be over. I want you to bring your attention to the golden zone right here. I've been talking about the golden zone for a long time, and basically, as you can see on July 17th, this is the golden. Golden Zone. July 17th, there was a specific regulation passed which was the Genius Act, and it was passed into law. Not like the Senate, like Trump signed it into law. That got us to break that major resistance and test new all-time highs for Bitcoin. That's how significant that news piece was, because as you can see right here, we tested, we tested. It really got us to break through. So we need something else to get us to break through all-time high this time. Now the thing that got us to reject from all-time high with that massive candlestick is when Trump put 100% tariffs on China and he started negotiating with them when it comes to precious metals. But ever since then— this was literally yesterday, October 21st— he's been telling people that he's just doing it for negotiation purposes. I'm not looking to destroy China is a direct quote from Trump. He is using it as leverage to negotiate. He doesn't want 100% tariffs on November 1st, is when it's supposed to happen. Direct quotes: October 20th, I think we're going to end up having a fantastic deal with China. It's going to be a great trade deal. October 20th, I think when we finish our meetings in South Korea, I will have a really fair and really great trade deal together. Again, this is negotiation talk. This is optimistic. This is positive. And that meeting that Trump is talking about is literally happening October 29th and 30th. This is not a coincidence. They're having negotiation talk right around the time the Federal Reserve is expected to cut interest rates. Right here, October 29th, there's about a 96.7% chance according to the public that interest rates will be cut at the end of October. So we have those key dates, both of them lining up to the end of October. And at the same exact time, we are bouncing off this major area of support which has previously been resistance. Look, resistance, resistance, resistance, resistance. It broke through, then it became support, support, support. Now we will have a fight. I'm not making a claim that we're going to break all-time high right now. We will have a fight. Like I said, we need one piece of regulation that's called the Clarity Act. Nobody knows exactly when the Clarity Act will actually pass, but the Clarity Act gives regulation to all altcoins in the market, basically classifying them as securities or commodities. And pretty much now every coin on the market will have a clear regulatory framework to actually produce and make companies in cryptocurrency. And it's like the most anticipated regulation piece that in probably like the past 10 years, to be honest with you, it's more significant than the Genius Act, Stablecoin Act that just got passed. If the Genius Act got us through that previous resistance and broke us through all-time high, then I do believe that the Clarity Act will probably get us even further. And soon I'm going to be making a video on exactly when I think the Clarity Act is actually going to pass. So pay attention for that.
