The Wolf Of All Streets - Bitcoin Breaks $50,000 | Massive Bull Run | Check These Altcoins!

Starting point is 00:00:00 After 776 days, Bitcoin made it back above 50,000, although now trading around 49,500 because CPI numbers, inflation came in hot, putting a very temporary, hopefully, spoiler on this bull market. I think it will be very, very temporary. And guys, this is a really huge marker. Like I said, 50,776 days. Bitcoin has only spent a total of 190 days over that level total in its history. It's been a very, very long time coming, driven here by Bitcoin spot ETF buying. Today's going to be a little different. It's going to be a shorter stream. I've got John Wick. We're just going to look at a bunch of charts and trades. Your requests from Twitter yesterday. You guys don't want to miss this let's go let's go what is up everybody i'm scott melker also

Starting point is 00:01:03 known as the wolf of all streets before we get started please subscribe to the channel hit that Let's go. kids been sick. You know how it goes, man. It's just a thing. It's all going around. So we're going to cook through some charts here. Not going to have a long-winded interview conversation about the future of Bitcoin and the power of ETFs. We're just going to look at some charts and see what's actionable. Of course, I've got Wick here joining. What's up, man? How are you? Hey, Scott. Good to be here, man. Thank you so much. You are welcome very much. People are saying it's a Super Bowl hangover. Definitely not the case, unfortunately. Definitely not the case. I wish it was a Super Bowl hangover.

Starting point is 00:01:49 That'd be a much better story. So listen, what are we looking at here? Like, as I said, we've got the CPI report came in. We weren't planning to talk about this, but we probably should at least mention it. Consumer prices rose 3.1% in January from a year earlier. That was a cool down from last month, but more than the 2.9 increase economists polled by the Wall Street Journal expected. Of course, guys, so core prices were 3.9% above the 3.7% increase economists expected. So the numbers are actually down, but they're higher than expectation. And we all know that all that matters is expectation,

Starting point is 00:02:19 right? Beating the expectation. There you go. Yeah. So a bunch of people take a guess and then markets react to whether or not their guess is correct. But let's take a look at the Bitcoin chart here first. I mean, pretty astounding move here above 50,000. Really, really, really powerful on the back of 1.5 billion in spot ETF buying just the last three days. So we're getting net inflows over 500 million a day now. Yeah, no, it's amazing. And that's exactly what I assumed, right? We just make our assumptions, but I assumed it would take, I think I even said this in your show, that I thought it would take about a month or so for everything to digest to really see the power of that ETF come alive. And I've actually been one of the only ones I've

Starting point is 00:03:05 seen that's been charting the iBit chart. And it looks amazing. I mean, it looks really primed and good for this bull market. So I'm excited about it. All right. So what are we looking at in the Bitcoin chart? Has anything changed for you? Obviously, on the weekly, this just looks like a monster chart. No reason to fade anything. Yeah, Scott, absolutely. So I won't go through this all again, like we've done on your shows, but I've said that we've been in the stage two breakout uptrend. And once we went parabolic here, I mentioned to you that when we had the squeeze breakout,

Starting point is 00:03:34 that when you have these parabolic moves, right, if you have the dots, all you really need to do is keep long when the dots are green and they've stayed green. So I'm still bullish. The dots are still green. I do think. So I'm still bullish. The dots are still green. I do think that we're going to have some trouble here. So if you, if you look where you consolidated over here, while we had trouble here, if you go to the left here, it's because all of this price action here jumbled up and we have the same thing that's going to start

Starting point is 00:03:56 happening over here between 50 and 52,000. So that's what I think we're seeing. We're seeing this resistance from all of this supply over here. And I also think that just in general, $50,000 being such a round number, assets normally have a little bit of issues and problems as you reach those round numbers. But I think we'll break through it, Scott. But in the short term, I do think we see some short-term resistance in this zone. If we switch down to the daily charts, you can see the same thing happened here. We went through this little stage four. We broke out, went into a stage one basing, your sideways pattern, broke out into your stage two,

Starting point is 00:04:36 still has green dots in the daily as well. So both on the daily and the weekly chart, it still looks very bullish, not slowing down now. But I know that I saw, and I know you mentioned it as well, that there is a bit of bearish divergence on quite a lot of charts in the Bitcoin asset. I actually like that because I think it's going to give us some time to kind of slow down a little bit here at this $50,000 to $52,000 area. I think that's going to lead to the alts pumping. And they've already started to pump. So let's now switch our focus to the alt market and see some good opportunities that are happening right now. We'll move to ETH. And I wanted to point out on ETH something very interesting.

Starting point is 00:05:15 Yeah, look at this. I didn't see that. On the monthly squeeze breakout. Wow. Okay. On the monthly. We've actually never had a monthly squeeze on the ETH. So I'm actually

Starting point is 00:05:25 very excited about this. For those of you that don't know what this means for those new viewers here to myself and Scott show this little shaded area here, when this starts to print, okay, what it's telling us is that volatility has been bent up and it's pretty much a signal to let you know that an extreme move is coming. Okay. You don't know whether it's going to come to the downside or the upside, but as we see the green dots, it does give us some clues. And then eventually we get this breakout arrow. It's hard to see because you've got a dot right here, but a breakout arrow from the squeeze shading lets you know that the breakout is to the upside. So that extreme move is to the upside. Just started on the monthly chart. We've got 16 days until this

Starting point is 00:06:05 candle closes. And if it closes anywhere in this region, even right here where it is right now, it's still the highest close it's had so far in this cycle. So very bullish on ETH. As I've been saying, we sniff a little bit more of that ETF news and this thing flies in my opinion. So I've got my bags loaded and I think this is a good asset if you're trying to play the alt market in the next six months. I think it's going to be a good one. I totally agree.

Starting point is 00:06:31 I just want to really quickly go back and show people that bearish divergence just so I can see it. That's the four-hour chart. Very overbought, up to 87 RSI, topping 78 there. Multiple bearish divergence, another one you could actually add here.

Starting point is 00:06:44 Yeah, a little one right there. So yeah, I was making the case for a cool off. Super reasonable. Yeah, yeah, yeah. And we love cool offs right after this because that's when the alts fly. So yeah, Ethereum looks good. And talking about Ethereum,

Starting point is 00:06:58 it's only right that we switch to Solana, right? Everyone thinks that Solana is going to flip Ethereum, right? I think there's- Ethereum killer, right? Yeah. Yeah, exactly. I don't know if it's going to kill Ethereum, but I sure have bags packed for both to take off. So looking here at Solana, again, for those of you that have been following me either on Scott's show or just on my feeds, Solana is my favorite asset for this bull market. It's my biggest position, full transparency. And as you can see here, we start off on our stage one basing. Stage one basing, for those of you that don't know, it's a consolidation phase that comes after the bear

Starting point is 00:07:34 market or a stage four downtrend. So in the stage four, when it breaks below this track line, we call this the track line, you simply just don't buy. You stay out of the market. This is your stage four downtrend bear market, no matter what happens until it breaks above the trackline again. But before that happens, normally you'll start to base for a long period of time. We call this a stage one basing. Now, most old school crypto guys will buy these stage one basings whenever they start and they'll just hold them for a long time because they think they will pop. To me, I don't like doing that because these stage one basings can go on for days, weeks, months, even years. So I don't buy these basings. Instead, I try to look for those stage two

Starting point is 00:08:12 breakouts that are already happening and keep rotating into these. Okay. So once you identify the stage one, um, you know, you get your little breakout arrow dots breaks out into stage two. This is stage two, uh, part one. Okay. Breaks above it. Then you get your next resistance over here from here. This is a stage two, part two breaks above it. This is when the parabolic phase starts. And as you can see, Scott also on Solana, we have not stopped having green dots. And I think last time I was on your show, uh, we actually were right here. This actually just happened. And I think you and I both called this being the low. Yeah, yeah.

Starting point is 00:08:47 And we called this being the low for Solana. You both, you and I did. Yeah, I bought a bunch that I finally bought some. Yeah. Perfect move. And as you can see what happened, it actually tried to tag the track line. A lot of times this track line in these uptrend moves, this will act as support. So you have a little breath and then it bounces back up.

Starting point is 00:09:05 Solana is so strong. It couldn't even make it down to the track line, almost did. So yeah, I think this is still very, very bullish. I think that if Bitcoin kind of just takes a breather, I think we'll see this a lot higher. And it has been performing pretty well, actually. I've been watching it with Bitcoin going down. It's very strong. So that's good. We can even look at it on the- And very strong, even though they went offline a week and a half ago. Oh, yes. Actually, that's true as well.

Starting point is 00:09:31 And still keeps going. It dipped for like 5% for an hour and right back up. Didn't even- Absolutely. In fact, I bought a little scalp position over there. I knew that was going to happen. Everyone gets bearish on these. But I mean, Solana has gone down so many times.

Starting point is 00:09:44 In my opinion, okay, this is why I was still bullish. I think Solana going offline, I think that was already baked into the price. So it's not the first time Solana has gone off. This is just people that are just trying to cause FUD. There was a lot of Solana haters out there. I don't know why. I don't know why guys are hating on this instead of just joining the party and making money. But yeah, it was a FUD story. So let's move on to a render here. This is another one of my favorite coins. Typical patterns that we always look for. You got the stage four downtrend. You start putting your bottoms. Now these bottoms, a lot of times they will actually help me identify stage

Starting point is 00:10:19 ones, right? Because where are stage ones? Stage one happens after you have that bear market and then you start to base. Okay. So here we are having these bees giving us a little bit of confluence. One of my favorite setups, right? Is, is having bees and then going into a stage two, right? Seeing those green dots going into a stage two. And then look what happens. We pull back and we get one of our next setups, the squeeze shading that I just talked about, right? Eventually we get the green, bright green breakout arrow, not to be confused with a strength arrow, breaks out into stage two, right above this resistance.

Starting point is 00:10:49 And here we go. Boom, hit a little bit of resistance, come back, tag the track line, just like I told you guys, green dots. And here we are. If we do close here, Scott, it will be- I was just going to say a weekly close there after that line's been basically the close for four weeks.

Starting point is 00:11:04 Four and it's gone. And it's gone. I love Render. Render and Solana. So Render is built on Solana. So there's kind of synergistic in my opinion. But this is another one of my favorite bags to hold here. So hopefully it performs well. And to me, it looks very, very strong. This closes here. And as you said, I think it takes off after that. So guys, that's another one to watch in my opinion. Moving on here, this was one of our requests. I had a request for Coinbase. Okay. So how's Coinbase doing? So again, as you can see in the stage one basing, what do we have? Our Bs, our bottom signals to let us know this is stage one. Then we get our squeeze shading. I mean, this is like printing money over here. A large move is coming. You wait for it to either break below a support or above resistance.

Starting point is 00:11:45 What does it do? It breaks above resistance. We got green arrow, green dots. We're above a green track line and look what we get. A squeeze breakout arrow from the squeeze shading. Boom. This is our stage two. You ride the green dots until they stop, right? Boom, boom, boom, boom. Where do they stop? They stop right here, almost at the top. We go set up for another move. We escape all of this while people are trying to buy these dips. They think this is going to pop up. Okay. What happens? We wait for our next setup. Again, clockwork, squeeze shading, breakout. Here we are. So this is our next setup, guys. Coinbase is breaking out on the daily chart. Okay. So I really like- I'll tell you one other thing too,

Starting point is 00:12:22 because this starts unbelievable. you if you looked at coin and i had it on trading alpha as well but if you looked you had obviously the the move all the way down from the uh listing kind of came down here 40 bucks there was this deviation but look at the resistance that was formed when you made this range and look at the i had drawn this literally uh in november but uh look at the retest here like so if you just waited for that you know patiently for support resistance to be retested as support you got a perfect entry within a dollar or two keyword their patience i'll talk about this a lot i think a lot of people lose too much money because they get too greedy the emotions kind of you know kind of hit a peak and people can't be

Starting point is 00:13:01 patient enough right they have that fear of missing out. Patience is what makes trading. You got to wait for the setups. And if you don't, you know, you're at your own peril. Let's move to INJ, uh, injective. Another one that was a, um, a request, you know, guys, I don't mean to be repetitive, but this is what our stuff does. You have your stage one basings here after stage four downtrend bottoms start printing. You start to think yourself, okay, we're in stage two breakout you got a breakout arrow here was a little fake out green dot start again above the track line and they don't stop all this time you should be thinking this stage one this is stage two this is where we party okay not once does it go below the track line okay you see that eventually once we start basing here now we call this stage two we call this a stage three

Starting point is 00:13:44 basing this is just like stage one stage two. We call this a stage three basing. This is just like stage one, nothing different. It's just called a different name. Stage three basing. We get our shaded squeeze. Here we start to watch and say, okay, do we go into a stage four downtrend or a stage two uptrend? We're watching, right?

Starting point is 00:13:57 Maybe we even draw a little bit of resistance right there so we can define when it breaks out. Okay. Squeeze shading, green dots, all of a sudden breakout arrow above resistance we can define when it breaks out. Okay. Squeeze shading, green dots, all of a sudden breakout arrow above resistance. This is the moneymaker. This is what I play. You find these all the time and you'll be rich. This is it. Green dots all the way, right? The green dots. When did they stop? They haven't stopped yet. However, I do want to note that I do see a lot of wicks to the upside. So it does seem like there's

Starting point is 00:14:23 a lot of pressure to push this down. And this would be again, a stage three basing where it can break into a stage four or interstage to simply draw yours, your, your support right at the bottom, your resistance at the top and wait for the breakout, right? So this one, I would actually, if I was in this move for you guys, I would think about taking profits on injective, not the other ones, but injected because I see all these wicks to the upside and it starts to come down here on the stage three basing. So not worried yet, but you know, um, it would be a good time to take profits. If we break out into stage two, you can always redeploy them for breaks out into stage four. Glad you took profits. So that would be my, uh, opinion, not financial advice, but opinion on injective, uh, not my, not my favorite,

Starting point is 00:15:04 but it has been good to ride. And if we look at the daily chart, it is showing a little bit of a setup, bottom setup with green dots, but I don't like it on the weekly. So short-term move, we might get a little bounce. I don't like it long-term right now. I want to wait and watch and be patient. You got anything on that, Scott, or should I move to you? Yeah, totally. I just want to mention obviously that we had the all-time high from the last cycle at 25 31 and that has not been retested so like i've had since i've literally have been that area i'm in injective from way below and from last cycle

Starting point is 00:15:37 to be honest as i've said before but uh you know i think that should get retested but god who knows right but you know so like you're at 35, I do think this will probably come down close to 25, 31 at some point. I could see it. I could see it. This is a stage three. So, and it's looking kind of weak to me versus the other coins, right? We call that relative strength.

Starting point is 00:15:56 So on a relative basis, you know, not much, but it is looking kind of weak. So I agree. I wouldn't be surprised if it did test that Scott and, uh, kudos to you, because for those of you that don't know, I think Scott got into injective earlier than anyone that I saw on Twitter. Um, so congrats. I do. Let's move to art. I have sold some though. I have sold some, just to be honest with you guys, I even sold some at 25 on the way up. Okay. Well, previous all time high, but I, yeah, I've sold as high as like 42 bucks. So that's when did you get in? When's the first time you got in? Well, I, yeah, I've sold as high as like 42 bucks. So that's a nice size bag.

Starting point is 00:16:25 When's the first time you got in? Well, first, the first time I got in was literally a way over like three bucks on the first cycle. And then on the second cycle, I jumped in like six or seven bucks. Yeah. Oh my God. I rode some of that $3 I rode all the way up and all the way down. So, you know, not that great, but it was an investment. I really believed in this from the very beginning. So. Well, I don't blame you for taking profits if you started at six. Moving on here to Arbitribian. I always have problems saying this.

Starting point is 00:16:53 Arbitrum. Yeah, Arbitrum. Arbitrum. Good. So here we have a little double bottom. For those of you that have been watching Scott's show, hopefully you saw me share this setup because this is the first time that I shared the art set up because on the lower timeframes, it was a signaling, a bullish setup, and we had a bullish set up on the weekly here. We get a green dot after the double bottom.

Starting point is 00:17:14 This is your confirmation. This bar right here, we simply just follow the green dots, green bars, and look what it, look what it's done. It's gone a lot higher. So I have gotten in on this move. Um, I did get in on it when I shared it with you guys, and I'm glad to see that it still has green dots. I would like to see this weekly candle here. I don't want to, I don't want this to turn into a double top.

Starting point is 00:17:32 So I'd like to see this close for a close high. I'd like to see a close a little bit higher than these candles here. So that's what I'm watching on our bright here. Okay. Uh, I am still bullish, but I am paying attention. I'm being, I'm being patient with this one. I'm not adding any more. Um, but if it does break below this line right here, I probably cut this position, uh, and rotate into something else. So arms looking good, but I want you guys to just watch for a potential double top over here. Okay. Uh, moving on to FLR, um, FLR, hold on a second. That was going to, let me actually check the daily chart here.

Starting point is 00:18:06 Okay. So see, I say that, but look here. I mean, the indicators, a lot of times when I fight my indicators, I end up being proven wrong. So know that as well. Okay. You see a double bottom here. You got the bees. And then what happens?

Starting point is 00:18:17 You get green dots. This is one of our setups from bees to green dots and it's breaking out higher. So watch it. But again, on the weekly chart, I just want to be, again, acknowledge that we do have a kind of double top pattern here. Hasn't confirmed, but something to watch for just in case. Moving on to FLR. This is another one that I really like. I'm in it. Vinny, if you're listening, Vinny got me into this one. Very beautiful, right? Stage four downtrend, you get your stage one basing over here, green dot start, and you go into your stage two uptrend. So that's it on a weekly chart. Still looks good. We still got a

Starting point is 00:18:55 green dot, even though we've retraced just a little bit, not a big deal at all. Moving on to the daily chart, you know, same thing, right? You get a squeeze breakout. We can even scale out a little more here. Uh, squeeze breakout here, stage two uptrend. And this is a continuation from this bottom signal followed by green dots. Boom. Stage one, basing stage two, boom, stage three, stage two, stage three, stage two. Remember stage three is just a sideways pattern. And again, a lot of times this will be your resolve giving you warning to catch these moves. So Flare, I really like Flare. I think this is going to do really well in this bull market.

Starting point is 00:19:31 Again, I do hold this position. So full transparency there. Moving on to SEI, another one that's been hot as of recent. Super hot. These new coins have all just blasted off. It's pretty crazy. Yeah, no, absolutely. Absolutely. I'm grateful that I have some friends that get to tell me about these things so I can start charting them early. But yeah, Flare and SEI have been doing

Starting point is 00:19:54 great. So as you can see, SEI here, same thing, right? Let's just call this WIC a stage four downtrend. Going into a stage one basing pattern, I mean, again, I'm so repetitive, but this, this is what trading is. You get a strength arrow, but we kind of ignore that because there's no green dots. You start to get your green dots with another strength arrow and we're off into stage two. Okay. Looking at it on a, on a daily chart, uh, same thing, right? We, uh, we have a little bottom pattern here, a squeeze, squeeze, uh, shading and green dots. So here's a double setup right here, bottom signal to green dots and green dots. So here's a double setup right here. Bottom signal to green dots and squeeze shading. So what I think is going to happen, Scott, I think that once Bitcoin starts to just cool off and that's what it's doing right now.

Starting point is 00:20:34 I see that's 48.9. I think you're going to eventually start to see these things rip higher once Bitcoin shows that it's not falling much and it just kind of stabilizes. So all of these ones that I've shown you today are ones that I'm watching. And of course, we have our two in the middle here that are worthy requests. So any questions, Scott? No, I love that. I just wanted to point something out just back to ARB really quickly because there's, and then we're going to go,

Starting point is 00:20:58 but there's a few patterns just for classical TARDIS. We've had a number of alts breaking descending resistance. You had AR arb doing it here you had jd mbs something i owned from last cycle shib breaking a descending resistance alluvium breaking descending resistance metis breaking descending resistance polka starter these are a bunch of coins that i happen to own from long ago another way guys you can just look for when these downtrends start to end and then go for confluence with trading alpha really pretty simple yeah no a lot a lot of ways to skin a cat i guess is the point that i'm trying to make

Starting point is 00:21:29 guys it you know he ran through all those indicators we do i should mention in the description we've added a permanent discount which is 10 off so 10 off no matter what for all you guys uh who are signing up uh through me so you know, I use it every day. I share it in the newsletter all the time. I've got a gift for them today. I've got a gift for everyone. So let's scratch that 10% and let's give you guys 25% off. Okay, so if you go down to the comments,

Starting point is 00:21:56 click on Scott's link there, go to the website. If you check out and you enter 25OFF, 25-O-F-F, you will get a 25% discount. This is only happening during Valentine's and then we'll revert back to normal pricing. So there's your discount code, guys, and make sure to click the link if you want to try these indicators out. They are mine. I did make them. And if you ever have any questions, just DM me. Absolutely amazing, man. Thank you

Starting point is 00:22:23 so much for your time. Sorry, I'm a little under the weather and sick and we had to do it quick today, but I guys, I won't be here tomorrow. I actually have a prior commitment. Uh, I'll probably be in bed to be honest. Um, so, uh, I'll see you guys for sure on Thursday, man. Wake. Thank you so much. That was, that was epic. Really? I love to see you cook through those charts. Thank you, Scott. Thanks for being here for all of us too. While you're sick. I mean, hats off to you for doing that. Gotta show up. All right, guys. Thank you so much. Thank you, man. See you guys on Thursday. Bye.

The Wolf Of All Streets - Bitcoin Breaks $50,000 | Massive Bull Run | Check These Altcoins!

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