Why Bitcoin (and Alts) Are Now in a Bull Market | Big Cheds & Big Chonis

Falls like a knife.

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With your hosts, Jackson and Giovanni. This is Cointelegraph's Crypto Markets Live. Cointelegraph's Crypto Markets Live is sponsored by Tokenbox. Tokenbox is a convenient, state of the art platform for managing your digital assets. It is advanced security infrastructure structure, deposit options for both cryptocurrencies and bank cards, a designated wallet for converting currencies on site, and multiple portfolios that can be managed under one account. All this makes the platform a one stop shop for professional managers and digital funds. Check out Tokenbox IO using the link in the description below. What's up everyone? Welcome back to another Crypto Markets Live. If you're joining us for the first time, we're happy to have you here. And if you're coming back for another show, we got a big show for you today. My name is Jackson. I'll be your host throughout the evening. And today we have two traders, Big Chonas and Big Cheds. How are you doing today guys?

Hey, how are you?

Good, I'm doing great. Happy to be here. Thanks for having us both.

Yeah, it's a pleasure. So today we're going to be doing some good old technical analysis. We're going to be looking at what's going on in Bitcoin and we're going to cover a few other altcoins including Tezos, Chainlink and Ripple. And if you guys have any that you're interested in hearing about, make sure you throw them in the chat throughout the show. If you guys have any questions for our two traders here, just throw them in the chat. I'll be keeping an eye on it and I'll ask it directly to them. And if you enjoy these kinds of shows, please hit that subscribe button so you can keep bringing them to you every single week. We love doing it, so it's a pleasure. All right, let's get into it. So first we're going to start with Bitcoin, of course. So guys, we've had some interesting price action over the last few days. Last few days, rather hit 12k and then immediately plummeted. And now we've been steadily making our way back up there. So I'd like to hear what you guys are thinking about what's going on in Bitcoin right now. Chads, I'll give you the floor first. Let me know what's going on.

Yeah, I appreciate that. What's going on is excitement. I think we're seeing not only the chart. There's a lot to talk about with the chart. I would say first and foremost, with the break of that key level at 10.5k and just briefly on that level. Generally speaking, when you have a support or resistance level that's tested that many times over a long period of time, we're not talking about testing it one week and then test it the next week. When there's a month in between tests, that's enough time for a trend to reset, to consolidate, and you're taking another full, you know, attempt at it. So given that we had that many attempts to break it and finally did 10. Five is kind of my line in the sand. We pulled back and tested it now twice after the fact. So there's a lot to talk about with the chart. There's adoption. I'm sure Big Shonas has a lot to talk about that. I know he kind of reads the news a lot in terms of becoming more mainstream. And we're seeing the effect of ease for the average trader to get into the market. We're seeing that kind of expanding, that kind of effect we're seeing with the dollar. We're seeing the weakness in the dollar, and that's kind of translating into people putting their money in gold and bitcoin and other things happening. So we're kind of. There's a lot to talk about. I think it's exciting, and I'm excited to be here.

Awesome. Shonas, what do you have to weigh in on that?

Yeah, I mean, Chad's really squared up the whole point about the back test, which was so important. The 10.5area, we've hit it. The first time we actually hit it. But six months ago, the rejection was incredibly fierce. Second time we hit it, it was less fierce. And the third time, which was the one that basically we've been consolidating over the past month, the resistance was strong, but. But we weren't getting that rejection from it like we did the last prior times. And then being able to basically hold around the 9k area, it really showed that there was a solid floor being created in the bitcoin price action. So being able to not only break above 10.5, which wasn't not only horizontal resistance, but descending line resistance, being able to break well above 11 and even 12k, and then that major break rejection we had several days ago, how interesting it was to see that lower candle wick literally find that major support once again at the 10. 5. Reason. So major resistance has now Been tested as major support. And the bounce now from 105 back to where we are currently 11 8, 11 9, I mean there it is, there's a thousand dollar bounce from the lows of that wick. So the overall narrative now really has to be bitcoin over 10 5. The bulls are clearly in control.

Do you agree with that, Sheds? Are the bulls in control right now?

Well, this is so rare. If you watch Jonas and I, we never agree and like he was, he just kind of agreed with me and I agreed with him. Bulls are, bulls are in control. I don't think anyone can debate that. I mean kind of when you look at, when you talk like Dow theory, right? The origin of a lot of this stuff is what's the trend, the primary trend. And bitcoin is bullish right now. So the first step to trading is identify the major trend, work your way down depending on what you're trying to do. I mean after breaking 10 5, forget about it. That was such a good buy signal. And now you have two, what are called throwbacks. When you back test or retest a broken or support or resistance level, that's happened twice and bulls have kind of bounced back. We don't know how it's going to handle resistance because there's kind of a less formed resistance area now. Right. Support is so well defined. And he also talked about a descending trend line. You can make a really solid argument for a bull pennant among the monthly chart. Basically a symmetrical triangle after an uptrend and we see a break of a macro, a long term downtrend line. There's a lot to talk about for any kind of chartist. You don't have to have any kind of depth of experience. You're seeing key level breaks, horizontal and diagonal. Horizontal is more important because classical charting teaches that it's much more subjective. A diagonal line, like when you use a diagonal line you have to have more of a filter around it, like a plus or minus, you know, like what you see with a lot of indicators like the cmf, you have that zero line. Same thing with like a, like a trend line but horizontal. Those are so much more clear signals. So my advice to newer traders is kind of focus on patterns with horizontal levels of clear support and resistance. The average retail trader can identify it easier. I see Jonas nodding his head. Do you kind of agree with that?

Yeah, I do. The one thing I would add is that I think from a bitcoin standpoint, for the first time in a while, the fundamentals of what's affecting bitcoin are starting to have a heavier influence, I believe on the chart. We are now post halvening. And I think because of all the monetary policy we are now seeing with the Fed and everything, the whole narrative of inflation. And then what would be a great hedge against inflation? Bitcoin is now more than we were even weeks or months ago being thought of, I think, as that hedge, the gold hedge. How do I protect my capital if the Fed keeps printing money now exponentially? And the finite nature of bitcoin could be potentially that excellent hedge.

Right. Like people are where they're going to put their money. I think we've seen some of that argument being said are kind of the way of thinking about that where they're going to put their money. Bitcoin is an attractive choice, more so now than ever. And I think we're seeing that paradigm shift.

Yeah. And it'll be interesting to see how that whole narrative evolves throughout the rest of the year, really. But now I want to look to what's coming next. And you were speaking of horizontal lines earlier, and it seems like one that we're testing right now is that 12k mark. I mean, we hit it back on the second and immediately just plummeted off it. And now we're again slowly making our way up there. What do you guys have to think about the possibility of breaking that 12k mark? Chads, let's start with you.

I just kind of would almost take a quibble with the fact that there's like a 12k resistance. We don't really know where the resistance is right now. We had that big. We had that big momentum shift. It's. There are, there's all these varying peaks. If you go back in the daily chart, you go back a few months and you look at where people are drawing resistance to like the August 19th peaks, maybe the July 19th peaks. Where are you doing it exactly which day? Because at most you have one or two. One or two data points. And when you want to think about resistance, you want to think about what's the memory? Okay, what's the memory of the price action? The more recent it is, the more valuable that support or resistance level is. So you can make an argument for a 12k area resistance, but I like, I challenge you. Where, where are you going to put that? So rather than looking for a number, you have to look for a texture. What's the texture of the price action? Is it a bullish consolidation pattern or is it kind of a pullback and a bearish consolidate? Like what's Going on. I think that's kind of more important than trying to draw another horizontal level. We don't know where it is right now. And that's kind of what my thoughts are.

Mm. What are your thoughts on that, Shonas? Do you, do you take into account, as he called it, the texture of the situation?

Well, the texture is as follows. I mean, yeah, we, we were able to get above 12k. Was it last week, two weeks ago? I don't remember when that was. It was about five days ago or so where we were able to break above 12k, couple 12, one until we had that massive candle that. It's very interesting. I mean a lot of people got wrecked on that candle because when bitcoin was able to go down $1500 in like 10 minutes or so, taking so many of those altcoins with it, it put for a very brief moment a lot of those coins below their, their most recent breakout point. Bet you a lot of people had stops in that area. Basically mark that as an area where able to fall below that and that would negate the breakout. Unfortunately, like we see a lot of times in crypto, the wick is what stops everybody out. And then you have the spring backwards is like it never happened. The 12k area is meaningful, but we have to go back a year, you know, to August of 2019, where we were at the twelve thousand dollar mark, about twelve, two or so and change was where our peak was at that moment. And then we fell in, fell and fell. So there is history at 12K. It did mark a peak. Remember the July to August 2019 timeframe. You know, we were knocking on the doorstep of 14K. What's very interesting about this particular area here is with bitcoin being as big, bullish as it seems right now, we're getting into that thinner air of resistance, you know, in this area here. It could be argued, and as we did there, that that 10K, 10, 5 area was a clear line in the sand that the bears were trying to defend. They obviously failed to do that. And then we gotta head back further in time. And because of that year ago, you know, 12 to 14k area, this is kind of the next big block of resistance that bitcoin is facing. And it's not that fierce. I mean, we don't have a lot of history up here. There hasn't been a lot of money flow, relatively speaking in relation to bitcoin in the 5, 6, 7, $8,000 range. So it's hard to say from a historical standpoint as Chad was saying how significant these horizontal resistances could be. So that being the case, what other factors are we really able to look at? And there are oscillators, indicators that can maybe give us a little better clarity of where bitcoin is in this overall trend.

So, going off that, I'd now like to take a look at what you guys are looking at in your charts at the moment. Chads, would you mind bringing up your bitcoin chart and just kind of telling us what's going through your head at the moment? I'd also like to remind our audience, if you guys have questions for either of our two charts, trading experts here, make sure you write them in the chat. We've got one already from coinbook who's asking. The descending line that was broken will flip the support, but will we touch it again, in your opinion? I'm not entirely sure what descending line he's talking about, but let's do it.

Yeah.

Yeah. Maybe we can check out what's going on in your chart.

I had a lot of thoughts in my head, and I'll just kind of finish up with the point Jonas and I were making, and we're talking about that August top. There wasn't a lot of volume behind it either. That's just another factor. Like, there was some volume. So that just kind of, you know, if there's like a bigger volume cluster, that would even add more significance. But. So I have the 105 line drawn. We have a daily chart is a pretty large time frame. You'll go weekly, really, to kind of illustrate the same point of really that that level that was tested so many times here. And eventually once we broke it, you know, we can see it was tested several times. Once we broke it, we came back and perfectly retested it twice. So that's a point we're talking we made before. So initially, even the second day and the day after. So once you break a level like that, it's a great idea to kind of set some buy orders there or even maybe look to kind of play it in the other direction on a break. So that's a good area to kind of play with. So we had that immediate throwback. We bounced. And I will just plug the Bollinger band just for fun. We kind of rode that upper Bollinger band, and on that big volatility day, we pulled back right there, that 105 levels. Any kind of dip buyer at that level was rewarded. And we're kind of continuing to consolidate. And how we kind of led into that is we obviously, we have the march bottom. And we had a long term trend line that I was monitoring that was more or less kind of the peaks here and then the support here. And we broke that bearishly came back, were rejected again. And then this is a buy signal right there in that trend line. You also have other type of ways you can look at it short term. You can very clearly see some type of a tightening pattern. You can call it a triangle where we have some type of a clear break from this downtrend line. You can draw, you know, the other side of the triangle, you know, in any kind of way you want. You see the downtrend breaks. You had kind of an orderly consolidation and there's plenty of signals here. So we kind of with a little bit of momentum we broke out of this consolidation range. And as we were charging back towards that key level of 10 5. So that's the momentum that's leading into that. So you kind of want to think about the context of the price movement. The context of the price movement is after a long bullish impulse move we consolidated. We went sideways. We almost started to kind of droop down kind of like a horn top. It's a classical charting thing where you're kind of drooping. Almost like drooping bottom where it kind of comes back down. But you kind of broke out of that. It was a fake out move. You broke it. And here we are at 10 5. So that's a key level there. He asked about kind of the whomever that was our friend who's in the chat room actually. Yeah.

He mentioned he. He commented to clarify coin book. He said the descending line I'm talking about is on the monthly chart.

Exactly. I'm on that right now. Exactly. So if we go to the monthly chart and you can make an argument. Pretty good argument for a bull pennant and a bull pennant. Recent bull pennant break. And I'll address this kind of move, this wick that kind of go outside that. So we have a bull pennant move and a bull pennant. Really it's. And this is hastily drawn, but it's a symmetrical triangle. Symmetrical triangles according to classical charting more than likely are continuation. They break towards the trend that preceded it. So you're expecting a bullish continuation. We're getting that follow through. So here's your descending trend line after kind of. This is a very. The arc of. This is a very bullish flag pole. We're kind of going straight up. It's not like a sideways one. So you have two things going for this in a monthly chart. Several Things rather. But in this context, very simply put, we just have this. We have the angle of this impulse move, we have the consolidation, the triangle consolidation and the break here. All the while, you know, you know, riding this exponential moving average support. So this is a clear signal. You can watch that. If it retests it, we're going to come throwback. We're going to come back down to 8,900. You're going to have to get through 10 five first. So are we going to retest it? You're going to have to get through 105 first. Okay. If you break 10 5, I think we could very easily retest that, maybe even go lower. So I'll kick it back to you. But for me, that's why those levels are kind of important right now.

Thanks. I liked. I'm really interested to see how that chart compares with your. Yours, Jonas. And going into your chart, we have another question from the audience. Mr. Barghathi, who asks, Are we forming a three soldier pattern in the league weekly charts? Can you guys confirm that? Actually, one more thing before I turn over you, Jonas, some people are curious in the chat about why you're wearing a mask. Chads, would you mind briefly explaining that?

Well, first of all, I'm doing you a favor because nothing too pretty underneath. I value my privacy and I'm honored that I'm allowed to participate in this type of a forum. So I like to do what I. What I can do and reach out to the community and be part of the community. But this is where I'm comfortable. And once again, thank you for having me in this manner.

Awesome. Thanks for that, Jonas. Take it away.

Yeah, I'll be the face of the operation. So. Yeah, listen, I'll comment on the three white soldiers in a moment here. You know, I was mentioning about how as we get higher up here into the high elevens, we have open air, if you will. We have an area where we have very limited, you know, price action. And I have up there the VP VR volume profile, visual range. And this basically shows us where most of the dollar volume trading has occurred throughout the history of or the. The modern history will bitcoin, let's say over $500 has occurred. And it kind of shows us a few really interesting things. First thing that kind of sticks out is these windows, like I call them, gaps in price history where we can see historically when the price has moved in that area, it moves very quickly. We've had multiple times where the run from 6k to 5k or 5k back up to 6k happens very quickly. And we can see compared to the middle sixes or the low fours, we have much less price action in that area. So the reason we tend to blow through on the downside and the upside of these areas is because of that limited price action. Also note the ones in the mid 3Ks and of course the one here in the mid one case. But we'll leave that aside. But where we are now and then above that you can see how much limited price history and volume, dollar volume there actually is up here obviously because bitcoin relatively speaking hasn't spent a lot of time up in this area. But that's what I mean about kind of the higher we get, the thinner the air is here. And we're currently supported by all this history here. Now in this, you know, 8, 9, $10,000 range, which Bitcoin more or less has been stuck in for the past three years. So I do find that interesting. As we can see, here's our horizontal where we currently are. We've been here before. We were here back in 2019 and of course we were using this area actually as support once we had our blow off top for a little bit there before we failed to blow through. And then you can see here on our back test, the 115 was major resistance, major resistance on the backtest here. So once again we are knocking at the door. So I'll be a little bit of a bearish contrarian here in this next little part and then we can obviously basically have a sense more or less of where we are in the grand scheme of things. We are still putting in a lower high so far, but still putting in a lower high from our, of course all time highs to our second attempt and now our third attempt. So yes, we have broken through what we consider, you know, descending line resistance. It was basically tagged here, was tagged here again and then the break above it was very substantial. Hard to say if we really have found a back test on that. I do like to find back tests on major descending lines when we actually are able to break them again, that would put bitcoin back under that 105 area, really under $10,000 if we were to have that backtest. But still here we can see our multi year equilibrium is still holding. Here's our high, here's our low, here's our lower high, here's our higher low, here's our lower high. And it's still okay to put in something of a higher low obviously, but still maintain the overall bull trend. And this, yes, could consolidate for, you know, still quite some time here until we're able to break that equilibrium on this, you know, higher time frame as we scan through the past several years here. So let's keep that in mind. Even though Bitcoin's bullishness has been significant over the past several weeks from a larger macro trend, we are still in this lower high, and really, that needs to be that break of, let's say, the mid to high $13,000 region. And that's still kind of on the table as we speak in regard to some of the indicators and oscillators that I really like to use. Chad's already mentioned the Bollinger bands after the pinch we had a couple weeks ago. Bollinger is still incredibly wide here. All three indicators, the top, the middle, and the lower, are all moving up. That's a bullish sign. We're above middle Bollinger support, which also is a 20 period moving average happens to be right at $10,500. It's a bullish sign there, but we are spread, which tells me that we could actually be ranging for a little bit in time here as we can see if we can consolidate the span of our Bollingers. My main exponential moving averages I prefer to use is my EMA 12 and 26, as you can see here. You know, once we were able to confirm this bull cross, after just barely doing this bear cross here all through the early part of July, you know, boom, we were off to the races. I am a little concerned about the bullish spread of our EMAs, although this is a nice sign here to see them spreading out as you would see, see, as the price rises, I don't like to see these get too ahead of themselves. And right now, our spread of our emas is approaching sort of the. The max spread of previous bullish moves. Just from, like, a visual standpoint, how far above the blue is from the yellow. Gotcha.

Isn't that almost like a fractal, though, to the May? See how kind of May opened up? Isn't it kind of opening up in the same way?

It is, and that is true, but it's the spacing that is kind of what's sticking out here. We can see our max spacing here before we had a corrective move here is very similar to where we currently are here. So it's a very bullish spread. But the farther out we spread, the board deviation from the 12 to the 26 to me, makes me feel maybe we're a little overextended in our skis there and you want us to consolidate. Ideally. EMA 12 support support is still holding. It's been tested numerous times. I like to see that if this were to fail, this is around the 11, 11, 20 area here. EMA 26 again at 105 would be my backup support. I'd like to basically be able to see hold. So, yes, the bullish have control on the EMAs. They have control on the MAs. We're above all our meaningful moving averages. 50 is over the 100 is over the 200. That's exactly what you want to see for a bullish trend, you know, to take place. But we are definitely well above all these. Last time we were this far above a confluence, we did take some time to kind of level out and allow our moving averages as well to catch up. So my narrative here continues to be, yes, the bulls have control, but a timeframe of consolidation wouldn't be the worst thing, you know, to allow these indic indicators and oscillators to catch up. So I just want to stick with the daily for just a little bit longer. Again, we're well above our cloud support and other things here. You know, our RSI is a very healthy and bullish, you know, 73. We are on the upper area here. I do see I have adjusted slightly. My RSI is 8020 versus the default of 70 30. It gives me a more conservative view when we actually do break above these extremes here. I, you know, looking for some sort of a rejection either on the bull side, of course, on the bear side here it's notable. You know, the break of the 20 here in March did mark our bottoming. The break of the 80 here in May did mark our temporary topping. And now basically the break again of the 80s here is still that resistance was we are seeing here. But the RSI is still very strong. Our on balance volume is still very strong. We're putting in almost a higher high here in this current area. And arguably we are in blue sky on balance volume territory here. So more bullish signs for sure. MACD is still strong here. Again, the spread is a little concerning because we're kind of way above our blue to our orange there, but still with the bullish histogram. So, yes, the bulls definitely have control. Now. When do we see exhaustion? What kind of exhaustion are we looking for in terms of either indicators or oscillators, prices and what have you. The question earlier was about the three white soldiers here. Here they are in what's being referred to this middle one here. Like to see it more of a maribozu than the upper wick here to, you know, have it as a white shoulder, a white soldier. But you know, I can see, you know, where he's coming from. And just, let's just face it, three solid, really good looking bullish candles there in a row.

Before you move on, can I just kind of. I want to just talk about. That's a really good point. And with candlestick theory I would definitely that that upper shadow of the middle candle shows bears rejecting higher prices, but it's not. We need to get away from the idea of having to name a pattern. You want to understand the texture, we want to understand what that price movement is telling us. That's bullish price movement. We were seeing two large real candle bodies, three large real candle bodies with one upper shadow. It's arguably a three white soldiers, but I can see someone disqualifying it. But that doesn't matter. It's not about naming it. That's bullish. That's what's important. And it's probably going to continue. You pick a trend, it's going to continue until you start to get, you know, some doji spinning tops, some indecision signs. We don't see that there.

It's true. The last thing I want to say about being ahead of our skis here, I've commented on. I like to use higher time frames to get my overall narrative. And I've been really amazed about how long we've had our Bollinger bands on the weekly chart as wide as they currently are. The break last week of our upper BB was the rejection. We are again up above it currently intra week got about three days left to form out this candle here, but another upper wick here at the rejection of the upper Bollinger would be for me a very interesting sign here that we're not able to climb any higher at this moment. We can see the Upper Bollinger here and here also represented major resistance, but different context, frankly, trend changes at the time they were both hit.

I'd say the first and the third have more of similarity. But that one in the middle is kind of within the context of, you know, the shadow of the first one. So I agree, kind of the first and the third there are both within like an, you know, an uptrend within kind of the bullish movement. That second one is kind of a clear rejection point. Not only do you have that upper Bollinger there at the end of, at the beginning of 2020 when we broke it, but you have kind of the Horizontal highs. October and looks like May, that kind of ran into as well.

And then last thing I want to say is about volume. I mean, stocks are up, gold is up, oil is up, bitcoin is up. So everything's up. So that's a trend question is how much more money flow can we attract across the board here to keep the trend rolling forward? As I've said, we're up several thousand dollars in the past few weeks. Overall, crypto market has been very bullish with new inflows of money, new eyeballs, etc. But my question to really is how much stability under these price action is there? If there's a sense that the music is slowing and that the money flow is slowing into crypto and the gains that people have made over the past weeks here, you know, some have banked and some are just still letting that ride. This has been very easy money so far. Many times that gets tested. You know, the bulls have had it pretty easy for several weeks and months here, but at some point they will be tested on the strength of their hands. And I love the bullish price action. I'm just not as comfortable about the lower support ports that we've obviously broken through, but how strong they truly are and any hiccup, I think in equity markets, maybe in a rising dollar, that could offset some of the gains in the gold and bitcoin momentum. That'll be a real test to see if these price areas continue to act as support.

Thanks for that, Jonas. That was a really in depth look at all of your indicators and oscillators and, and your charts and such. And I wanted to give Chads an opportunity to respond to anything that Jonas was laying out there. I saw, I heard you giving a few and nodding your head a couple times.

Yeah.

So is there anything that stuck out to you that you like to respond?

So if you guys know us, I always. People tell me I interrupt him too much and you're probably right. But just like we, we are, we talk all day long about this stuff, you know, on and off camera. It was enjoying him Looking at all the different indicators. A lot of them showed, you know, the uptrend, the unbalanced volume in general is like a moving average, like you know, 200 ma moving up is an uptrend like that. The obv is a great indicator of whether people are loading or dumping. So we're seeing that strength in bitcoin. What's going to happen in the next few months? 6 months till the election? I think it's probably going to be status quo until the election and then after that, that probably is a pivot point. So I think this, my opinion is that the current climate we're in with all those factors, the weak dollar retail money coming in, you know, people can't bet online sports betting. Right. So where are they putting their money? A lot of that, some of that's into trading. So I think we're going to kind of see a similar climate to what we have right now, probably through the election and then who knows from there. And that's kind of where I'm at.

Yeah. Yeah. Great. So I think that probably about wraps it up for our look at bitcoin for today and we're going to move on from here to Tezos xtz. I saw Alex Agbo in the chat was, was looking forward to hearing your guys's thoughts on xtz. So I'll, I'll let Chads let you take it off on this one.

Cool.

What are you, what are your thoughts on XTZ at the moment?

So I am going to, let's go ahead and do the, I'm going to do the BTC pair chart and I'll just look at the chart and kick over to my man Chonas here for a little bit. So Tezos is one of the most bullish alts for sure. When people have asked me kind of this is what weekly, let's go like daily, like what are the most bullish alts? You know, it's really been link Tezos and lately XRP as well, though XRP has a little bit more of a downtrend in its history over the last year or so. But Tezos has been bullish. You know, we have, it's been trading pretty orderly where generally speaking, if you're kind of drawing these trend lines, you're drawing kind of lower support lines. You have an ability to kind of play it within a channel. I think it's a nice one to buy on a dip. Kind of generally in this range, if you're looking at it, you've pulled back from the 40K Satoshi level, which is we're obviously trading against bitcoin here. Sorry, we're trading against bitcoin here, not the USD pair, but you've got plenty of support in this area. So if you're looking to kind of buy in that area, you've got a pretty good reason to and you can kind of cut loose if you break your support. Like I like these types of setups, you know, where you have a very clearly defined level where if it Breaks, that's a clear trend indicator and that's, you know, so you can have kind of a tight stop loss. So this is a great level to load. I know plenty of people played kind of bought in that 25k area. We have a little bit of rejection here. We have some of these lower highs to have to deal with. Generally speaking, I think if we're above this line from the BTC pair chart standpoint, I think bulls definitely have the edge on tezos. Jonas, what do you think? Do you want to play with it.

For a little bit just to keep your skin there? I really don't have much to add from a TA standpoint. Tezos like link and like Ripple also has their own army of supporters and true believers. So it is one of those cult tokens that has more of a force behind it than others. So as Chad just pointed out there, you know, it's been able to hover over this area here of previous resistance, though, acting as support still. And it's being added to a lot of new exchange pairs as well. So it definitely feels like it's one of those coins that has a similar buzz to it, like other ones there, and it's trying to become that kind of next link, if you will. So from a. From a non TA standpoint, the fundamentals of it do position it stronger than most altcoins that I've seen there. And that gives it so much running room. You know, if it's able to break through these key areas here, the moving average that basically it's currently hitting that resistance on still is overall holding this kind of equilibrium pattern here. And what's interesting about the equilibrium pattern is getting tighter. So we're approaching an area here where one of these other major resistances or major supports will need to be challenged one more time. The current double bottoming area there is a very nice bounce, but if we lose that now we're talking here that wait a minute, maybe the bulls aren't prepared to kind of make that push through just yet. And like any other altcoin, it will trend with the overall altcoin market if bitcoin is able to break out of its dominance pattern here, which has been in the low 60s and trying to stabilize.

Yep, I love it. I think that's a great point. I would kind of just re emphasize the point about the social media army. Those types of tickers have liquidity. You want to play something with liquidity. If you're going to go long or short, whatever you're doing, put in your cold wallet that's cool too. If you have liquidity, you're good. Tezos has liquidity. I like charting about it.

Very tradable.

It's very tradable. And that's what we're looking for, something tradable, right?

Yeah. You guys are also mentioning Link and Ripple and we're going to get to those in a little bit. I was kind of curious because obviously alts are a bit different. Trading alts is a bit different than trading bitcoin. And how do you, how do you balance valuing fundamentals versus technicals when you're trading bitcoin versus alts? Jonas, do you have any thoughts on that?

Well, fundamentally speaking, a bitcoin maximalist could argue that there isn't any fundamentals to any other coin of meaning other than bitcoin. The S coin domination to alts is there for a reason. A lot of these projects are total bs. There's nothing behind them more than a copy and paste white paper and a website. That being said, historically when bitcoin rips and is in a bullish stance, alts have a better opportunity from a percentage standpoint to rip, to face melt rip with them. So we've seen bitcoin advance, but we've seen significantly more percentage gains from a whole other basket of altcoins. Higher risk can equal higher reward. And as we continuing seeing bitcoin dominance just fall and fall and fall, that tells us that money is flowing into alternative altcoins and it's staying into altcoins. Now everything does have a pullback. You know, even in the run up in 2017, you know, alts had pullbacks. There were major pullbacks as well. So I, I do expect these to happen again. I don't feel that we've found generational bottoms potentially in alts, maybe in some, but who, who knows? But there are times where trading alts is a lot more beneficial and there are times when you don't want to really touch them or at least be on the more of a short side with them. Because when the music stops with certain altcoins, especially those that have run so hard, you then learn that liquidity and lack thereof has major impact. And you actually see that none of the resistances that were challenged when the altcoin rose up have any meaningful support when the coin drops. And we have seen that where alts coins seem like they're just running parabolic and then before you know it, there's a tremendous crash.

Chads, how does your approach to trading altcoins differ from your approach to Trading.

Bitcoin, it really doesn't. I look for liquidity. And I'm of the matters. It's all translated into the price action. Like the chart resolves everything. What the price is, the current summation of all the known information in the world. That's the price. And that's kind of how I trade. So I trade all coins if they have action, if they have momo. I like that my FA is what's the, what's the sentiment involved? Who's trading it, you know, what kind of people, what kind of traders. Like what's going on? Not necessarily what they're like blockchain this and that thing does. I mean it doesn't matter to me in terms of bitcoin. Bitcoin I know will be around. Bitcoin is the ecosystem. Bitcoin is freedom. Bitcoin is whatever you want it to be. I like bitcoin, you know, I'm happy to be involved with it. Altcoins will come and go. Some that are hot today won't be hot tomorrow. Bitch. One makes a lot of great points. You have to think about cycles of bitcoin and what the right climate, the perfect climate for an altcoin is when bitcoin is consolidating. The ideal climate for altcoins is when bitcoin is sideways with a slight up bias because then you get better BTC pair, usdt. It doesn't matter. It's when bitcoin is consolidating, it's usually the right amount of time, right time to trade it. When bitcoin is in a downtrend, you don't touch it until it consolidates. That's your window. So when it's going up, most people are putting their money into bitcoin and it tops off, they drop that money into alts, they play with alts, they try to kind of keep it going. So you see these ripples in action and pun, you know, pun not intended, where you have the big bitcoin move and then you have altcoin action that cools off and then bitcoin will move again. So it's kind of. That's the ebb and flow and how I trade it.

Yeah, that's a good thing to keep in mind. And we're now going to move on to Chainlink and xrp. Take a look at those. I just want to remind everyone to make sure you stick around because I see there's some interest in the chat to see how we analyze those. And if you're enjoying the show so far Please hit that subscribe button. We do these shows almost every week, so we'd love to keep bringing you this kind of content. So make sure you hit that subscribe button. And if you have any questions for our two traders about Link, XRP or any other altcoins you'd like to like them to take a look at, make sure you drop in the chat. I'll be keeping an eye on it and I can ask it to them. So in terms of link, I'll let Jonas, you take this one off. Chess did the last one. So now I think it's, it's your turn.

Absolutely. So Link, I mean you have to basically say, okay, this is one of the coins that has had the best of the best bull run since the March lows. I think we were down to a dollar fifty, you know, USD, two bucks at the lows. Yeah, here we are there and then, you know, we're knocking on $10 here. So, you know, just a tremendous, tremendous move here, you know, 500% move here. That's altcoins. That's the advantage. That's the high risk, high reward of the altcoins. Notably resistance, resistance, resistance back tested numerous times here and then the advance off of it was significant, was also significant. It was the first one to on that death candle Bitcoin had about four days ago. Its recovery was much stronger than bitcoin, than even Ethereum. It basically was able to put in a higher high the next day where all the other altcoins were still struggling to get closer to where they had been before the big drop. Be that as it may, we were Talking about a 500% move here since March. Things don't go up forever exponentially here. I would expect some sort of a cooling off period of the price action here. I know Chaz is gonna jump on me on this here, but I do find, you know, the kind of higher high here in the price action, lower high here in the RSI could be argued about divergence. We have a lower high here in our obv as well as we have the higher high here in the price action that is more meaningful of a divergence that you want to basically see and stipulate. But I look at this from a standpoint of having been so bullish. I'd be looking for, if I were to want to find a better entry, I would be looking for a more meaningful pullback and just to just to kind of put an area where I'd be more interested in that pullback. Assuming that this 10k area is the Current resistance, however long that does hold, there any kind of meaningful pullback in the Future to the high 4 or low $5 range. For me, that would be more of a buying area I'd be a lot more interested in if we are able to get a more meaningful pullback in that area. Of course, if it continues to run, that would raise up to over $5. If we were able to hit $11 here. I know that we have history of Ethereum and Litecoin just ripping and then not coming back. Obviously that is a possibility here. I personally don't believe that will be the case. I believe there will be a stronger pullback in the overall crypto market eventually. And that's when I'd be looking to reenter some more meaningful long positions. So overall with Link, congratulations for the longs. They've been able to achieve something really great here. I'm not a buyer though at this price level and would be waiting for a much more meaningful fall if I wanted to to get in more a longer term hold. Clearly Link is has enough behind it now that it will be a player in the future of this whole market. In the future, I could definitely see the potential of this beginning and adding to its exponential run, it could be that case.

So, big Chonas, what about your moving averages? What do they tell us on this chart?

Similar to Bitcoin, only just more in the extreme that we are well above our EMA 12 and 26. We're well above our MA 50, 100, 200. Like we are at the extremes above. Now this is exactly what you want to see, that fanning out of our moving averages and EMAs. And as you can see there, the 12 and the 26 have been tested. And even though we had those intraday breaks on the 26th, we've yet to lose it. So if you say, where's the sign that we're really starting to lose our momentum here? Losing these EMAs is kind of that first step there. And if we end up putting a pattern, I don't know, something like this, where we're forming potentially our head right now and looking for a shoulder in the future there, that would be a pattern that would allow these EMAs to roll over.

And that's not necessarily a bad thing for bulls because you could have that head and shoulders form and break bullish, which would be a big, big, big buy signal.

Yeah, I mean, consolidation after a run like this is fine. The higher we achieve above these moving averages, the more riskier it is in my opinion, to continue to hold Those longs in that area.

Yeah, I was kind of curious. You, you mentioned how the indicators fanning out is an indicator. Why exactly is that important? Jonas, I think you might. You're muted.

Yes. So it's a great question because trading is about time frame. You know, I can take a trade based on a daily or a weekly time frame, but I expect to be in that trade for days and for weeks. If I'm using a lower time frame of 5 or 15 minute or a 1 minute, I'm looking for a scalp here. Now I'm using my moving averages emas to have a sense after if we were establishing a trend. What's interesting about what we have on the fan out is the higher the time frame we are able to achieve the fan out, the more bullish the pattern becomes. So when we're at the 50, above the 100, above the 200, on the hourly, the four hour, the six, the 12, the daily, that's how this bullish run took place. Bitcoin had to achieve that from a lower time frame running up to a higher one. And now that we're in the proper fan on the daily and on the weekly again, it's hard to argue that the bulls aren't in control. But thusly, we will see a rollover starting on lower time frames and then moving to those higher ones. Now, so far those rollovers on the lower ones haven't been good signals yet. Again, that's the trade off. The smaller time frame, the less meaningful the signal is. But we will see that get more substantially strengthened as it runs up on those higher times frames.

That was. There was so many great points there. I think, I think that was really nicely done. I guess I would only add on the fanning out is it shows kind of the expanding nature of the price action and those higher moving averages are more attuned to what just happened. So it means the kind of. The price is almost kind of moving up in that kind of momentum direction. So it's expanding out like an accordion opening up. And that's kind of what we're seeing. And I think he made so many great points there.

Yeah, thanks for that explanation, guys. We've got another question from the audience, slightly off topic, but I think it's still worth a look. Raniel Seguera asks, do you also look at other countries economical state other than the US when you do technical analysis, do either of you have.

It's a good question. Predominantly what's happening in other countries, countries. It can affect the price action as a whole. But in this current economy, really, what's going on? The United States seems to have the most emphasis. I think from a fundamental standpoint, though, a bullish case for Bitcoin can be citizens in countries where the banking system or the devaluation of the. The currency is so affected that those citizens look for an alternative to their local fiat. And that's where Bitcoin can play a tremendous role in protecting value and wealth. So, yes, a foreign land that's having problems. From an economic standpoint, Bitcoin is the answer for a lot of these countries. The hedge against inflation, owning your own assets, unconfiscatability of it. And I think that's going to be a narrative that plays on as the world is trying to wend its way through these interesting times.

Yeah. You can think about countries like Venezuela or Argentina, some of these countries where their currency is just skyrocketing into inflation, and Bitcoin could be a good option to preserve their value. Chads, do you have something to add to that?

I would just add in terms of looking like if something happens in another country, they have an economic event, a sociopolitical event. We just look to see how does that affect our market here in the US how does the Dow open? Is the Dow opening or up or down? I mean, that's all. So all that is the stuff that gets put in the sausage grinder. What comes out is what the Dow is doing, that's what we're trading, what the dollar's doing, what bitcoin's doing, you know, So, I mean, you have to find ways to reduce your signal noise. You can't sit there with a thousand newspapers in front of you and trying to figure out who's going to be the Prime Minister. You got it. Like, whatever. What the Dow. Follow the price action. Let that be your guide. Simplify things. That's how I approach it.

Yeah. It reminds me a little bit of when I, on a previous show talking to Peter Brandt and he was saying, you know, like, the chart is the sum of everything. Yeah. So just, just look at the chart. You know, it's got everything there in it already. Yeah, Yeah.

I think price action overall will override any oscillators or indicators. You know, it's just, what's the price action?

Exactly. So now I think that that covers Link. So let's move on to xrp. I think that's our next one. Chads, I'll let you take this one away. What's, what's your take on xrp?

Yeah, I'll do the, let's do the USDT pair. I'll mix it up. So right now it's bullish. I've been highly skeptical of it for a long time. If you know me on Twitter and follow me on Twitter. But I still provide clean chart analysis. I do think it's, it has its own problems which have to do with too much circulating supply. But that's neither here or there. What's happening now is we have a bullish chart. We have kind of a long term downtrend really since obviously the peak like bitcoin and we're kind of, we have a long term. You can just draw downtrend lines. You want to, you want to back yourself out. You kind of get a sense of what's going on. And just these two prior peaks. We have the June highs of 19, we have the Feb highs of 2020. We have what you want to be looking for in a chart. There's some general concepts and the most volume comes at the bottom and the top. And we have a very nice bottom type cluster here. We have the bulls, not only after several rejections at the SMA 200, the MA 200, they accelerated through the MA 200 on volume. That was your precursor leading to this, this test of this descending trend line. You broke through it and now you are just climbing. You're trading above your exponential moving average support. I use the EMA 8, I have the MA 20, I have the EMA 34 and MA 50 MA 200. So we have what we're consolidating now in a tightening range. We have what is called a high wave spinning top from August 2 with Japanese candlestick theory, you want to identify within whatever time frame or time range you're looking at the highest volume candle. This is the most volume is the most important candle. So everything is trading now within the range of this candle, the low of the candle and the height of the candle. And within the height of this candle, we are consolidating. We have pretty much two inside bars where this candle was inside that candle, this one was almost inside that one. I think they had a similar high. It's contracting range and you have to look at what the context is. The contact is a, in an impulse move up, a strong bullish move and a consolidation phase. It's a triangle. It's a symmetrical triangle, which means it's probably gonna break bullish. We're on the daily timeframe. Anybody can, you can trade at one hour. You can go 50x, you do whatever you want, but you wanna Kind of slow yourself down, get a sense of what the trend is doing. We have some analogs here to bitcoin where we have a clear downtrend line break. We have some nice bottom type volume but we do want to be careful. You don't want to lose 30k. We have established a little bit of price history here over the last week. We talked about recent price history. We're starting to build a little bit of support. You start to break 30. Maybe people have a little bit of a doubt that we're going to pull back. But you are seeing a shift in the BTC pair as well. The ripple chart is turning around. I don't think it's going to $5. I don't think it's going to $538. I think if bitcoin goes buck wild we might be able to get to a dollar. But right now it is a bullish chart. You know, it's not 35, 40 cents, it's not out of the range. But right now I think bulls are putting in some nice work and they have really started to turn, started to turn the chart around.

Are you also seeing a bullish trend on this, Jonas?

I mean from a TA standpoint I can't argue with anything that shed says, just said it does appear to be a pendant consolidation. Clearly a tremendous move. Ripple has a very strong army, of course, and that's definitely something that, that we basically seen here. But I actually have more of an essay thing I'd like to add to this. Chad, let me do a screen share real quick.

Yeah? Yes, sir.

So, all right. The TA part is true. You know, it's a great looking chart. We've had the advance for very impressive. The FA part of this is really important to me. Ripples max. I'm on a coin market cap. Calm. The ripple's max supply is a hundred billion with a B tokens. Okay. That's a very big number. There's only 44 billion coins out there. So we're only 44% of the actual total supply is on the market. Which means there's 56 billion more ripple that could be flooded at any moment in the future onto the supply of ripple. That's incredibly inflationary. And that to me tells me that it's just. I just think it's such an overvalued at the moment in my opinion and that at some point the reckoning will come through when people, when these locked up coins start to enter the market, which they will, and you actually add such a inflationary downward Pressure on the price action.

Chads. What are your thoughts on that? Do you think the eventual inflation of XRP will drive the price price down?

Yeah, I think it just stands to reason. It's not like it definitely will happen. I think you have to look at the history of the asset and that's what has happened. Big Chonas and I have some experience trading the OTC penny stocks, and we encountered these projects which had a large available supply and when they flooded the market, the price just drops. So we come from a place of not wanting people to get too ahead of their skis, perhaps. And I think what he's saying is very reasonable. That supply can kill you. We've seen it happen. That's one of the great arguments for Bitcoin, it's the scarcity argument. So if I'm going to, on one hand be a strong advocate of the scarcity argument, I have to also respect the ripple 100 billion argument that it's a problem. I have to kind of be intellectually consistent.

Yeah, exactly. So I think we can probably do a little bit of a lightning round, maybe take a look at some other coins. I was looking at the chat and some people are interested to see Tron, Cardano, Digibyte, Eos and Ethereum. Obviously we don't have to look at all those, but are any of those coins on your radar at the moment?

I mean, Ethereum is really the one that's leading this whole run here. This defy movement. The honor app to that has been the Ethereum token. You know, arguably, it could be argued that Ethereum is actually the one pulling the market up as a whole. Much more so potentially than Bitcoin. That's kind of the first thing I'd be watching to see if we are going to, you know, break down any, any way meaningful here. I think from Ethereum standpoint. And let me go to BTC pair. Yeah, the BTC pair. Because thinking, yeah, it's. It's at a very critical area right here. Let me go out here. So we, we are right here. And let me do a horizontal here. And I find this area. Let me get rid of the volume here to. I find this area such an interesting place because this right there. So this was an area here where we were basically doing a little triangle consolidation here. And we broke bearish and we did this really quick up thrust here that probably, you know, stopped out a lot of shorts. And that up thrust brought us literally right to where we currently are, you know, right here, finding that resistance. Now, this is the weekly chart. And yes, we have three more days left on the weekly chart. Not liking the shape of this candle currently. Again, a lot can change the next few days. As long as we are able to consolidate in this area here, it's still very bullish. But for right now it could be argued that we're just back testing bullishly. But we are back testing an area of, you know, major. Nothing major support, but an area of historic, you know, support area here. Congestion resistant congestion. Right. So it was an area of major support where we bounced. You know, we were able to find it as a ranging area. Okay. We broke down from it and now we're just back testing it once again. So from a. Etc. Sorry, from ETH BTC pairing, we are literally back to our December, January of 2019 highs. Now, granted, this is how a bullish chart can start. You go back up there, you get initial resistance, we consolidate for a little bit, then you actually are able to break through. And that could definitely be the case. But because of this area as congestion, as Chad's pointed out is there, I expect this to be a hard nut to crack. So I wouldn't be looking for the bullish to bitcoin that we've been seeing recently. I don't think ETH is ready to bust through that current area.

Well, not first, but bitcoin, I would just kind of add to that. If bitcoin just boom, accelerates, that's not. That's nothing against Ethereum too. Like bitcoin just accelerates, you know, that ETH BTC pair will go down, but doesn't necessarily mean Ethereum, you know, itself is bearish. You know, if bitcoin just goes, you know, we've seen what it can do.

Right. But I think the bullish divergence has been the narrative over the past few weeks here as, yeah, the ETH breakout was pretty tremendous.

So what's going to change that though isn't that it's defi driven.

Right.

Isn't that the hype? So is that going to have to change?

Yeah. And even with those coins, you're definitely seeing a lot of those big runners start to kind of lose their steam. And. And that's an example there of when the music stops. It's amazing how quickly some of them have just collapsed. Really amazing.

Yeah. Speaking of the future, we have another question from Raniel Sagueira who is asking if you guys think Ethereum will have the same or bigger value as Bitcoin in the future. This is the money question.

Not even close.

All right.

Well, I think that settles that. Sorry for all those hopefuls out there. Maybe we can hit one more coin before we call it a night. Afternoon, morning, wherever you guys are out there again, we've got people are interested in hearing about Tron, Cardano, Digibyte or eos. Any of those. You guys have any thoughts on.

I'll just do Tron. What do you think, Jonas? Let's do a little Tron. It's very popular. Justin, my son. And Moon is very popular. He's got Cult Guy, I think so. Tron's though, it's just been. It's been fun to kind of, kind of bang on it for a while. It's been bearish. It was bearish. We're seeing a little bit of nice little action here. We have the bottom that corresponded, you know, in March with bitcoin. And what we're seeing here is a clear series of higher highs. You don't want to get too complicated depending on your method, but you want to kind of get a sense of what the trend is. We see an uptrend. We see these moving averages all riding up. We see kind of pullbacks. MA50, pullback to MA50, pull back to MA50, pull back to Ma50. That's been your story here, generally speaking. And you have kind of a little consolidation. MA200, breakthrough throwback, you know, retest, boom. So you kind of have a nice construction here. Nice orderly trading. With xrp, you can start to draw your trend lines. It's very subjective, but you can kind of do one of these kind of see, okay, that goes through all this price action. Let me draw it this way. I mean, you don't want to get too hung up on that, but you should draw some lower trend lines to get a sense of where the price might pull back to. But it's really been moving averages here. It's been the MA50. Like I pointed out, this orange line. And as we're doing that, what we're doing is we're punching through and we are breaking. We're breaking key levels. We broke through these highs from May. We turn those into support and then, whoops, didn't broke it again. Now it's support and pretty well established support at that 17 what penny and what. I mean, it's crazy, but 1.7 pennies or whatever, right? So that's your. That's your big support. 1.7 pennies and we're pushing higher. It's got momentum, it's got mojo. That's what you want to identify when you're trying to. If you're. If you're hodling it, you got to think long and hard about why and your cost basis and what you think you want to do. But if you're trading it, figure out the trend. What direction is it moving? On a daily chart, you're bullish within that. That's good. That's a consolidation. We see all. We see the doji. We see the spinning top. You can kind of try to jump in at a lower time frame. Maybe look for a bollinger pinch like you have here for some. Some volatility. You know, maybe you're looking for some type of a divergence with an RSI or the obv. But bottom line is you have a bullish trend. The idea with this one, if you want to play it, wait for a pullback. Buy. A pullback in an uptrend is a great way to start a trade, right? Sell. Sell some. Sell the. The rip in a downtrend is a great way to start the trade. This daily charge, bullish. We see several levels it can adhere to. We see pullbacks to 8 EMA. Within this uptrend, we see potentially a pullback to 2 cents. I would say a retest of that, like 194 retested. That level might be a fine place to take your first entry. But be ready for an MA50 test. So that's going to be rising. That's, you know, 1.8 cents. That's kind of how I'd approach it and kind of what I think is going on with it right now. Do you have any thoughts, Big Chunis, on that?

Yeah, I mean, it's a very clean chart, I think. What's so interesting chads about your lower trend line, it's almost like a parallel. And what's so interesting is all those lower wicks every time it appears that it's about to fall off a cliff. Those have been excellent buying opportunities. So from an entry standpoint, you can clearly see that the best entries are when that lower trend line gets tested. Now, the last week was a little bit of a front run. We weren't able to get as low. So that just kind of shows how much, you know, strong shortfall. Shortfall. Yep. And then. Well, and then the. The more. The newer one there. The one with the big. Yeah, that one.

Yes.

A little bit of a higher. There actually a hot higher low there in the wick there. So it's a clean chart. And if you're looking to make any kind of an entry, if you've missed the run up Again, somewhere in that lower trend line would be a better entry. And you can see it's just like buy the lower trend line support, sell the upper trend line, resistance, rinse and repeat is kind of the thing that's happening there. But yeah, it's a clean chart and it's a lot less volatile, it seems, than a lot of the other ones there. So as long as that parallel continues to hold from a trading standpoint, that's how I would approach it.

I think that's brilliant. I would just kind of illustrate a point that you made when you have a trend line. Let's just get back to the one I had a moment ago when you have. What he talked about is how right here we didn't quite reach that lower trend line. That's a sign to where bulls are anxious. They're so anxious to jump back in. Everyone's anticipating, you know, you know how you have a, like a channel and it's, you know, cleanly trades. When it doesn't quite get to where it's supposed to and it comes back, people kind of jump the gun. Like everyone was anticipating a test, but the bulls in this case pushed it back up. It's called a shortfall and I think it's a fine, a fine one to trade. I don't know if it will, it will probably still be around in a few years, but I don't know if it's going to really be anywhere outside of the ranges. Curling and now is kind of what I would say.

Awesome. Thank you guys so much for all that excellent ta and for those of you watching, I mean, this has been an awesome tag team to witness. You guys were riding off each other's charts and it was really cool to see and especially the, you know, the in depth analysis making those points really clear for everyone to understand. I know I learned a lot today. Hope you all did as well. So I think that's going to about do it for the show and I'd like to extend a huge thank you to Cheds and Jonas for coming on today.

Thanks for.

Thanks guys.

Thank you. Thanks for having us. I mean, this is definitely an interesting time if you're new to crypto or you've been here for years. It's hard to argue with the past few weeks and everything and it feels like we're approaching a paradigm shift. So exciting times these are for sure.

Yeah, great. I had something but I forgot it. Apologies. So everyone who's watching, if you enjoyed the show, please hit that subscribe button so we can bring you this kind of content every week and you can stay up to date with it. We do these crypto trading shows usually on Thursdays at 2pm Eastern time, so you can stay up to date with all of that. I am your host, Jax. I remember it seems like we have a lot of bullish trends almost across the board. On every coin we looked at, it was going up. So if there's one thing to take away from that, it's there is a pattern out there and we're tuned into that. So thank you guys again for coming on the show. My name is Jackson, and we'll see you next time.