The Wolf Of All Streets - Bitcoin Rebound: These Signals Indicate The Bottom Is In | Here Is What Next For Bitcoin & Altcoins

Episode Date: March 21, 2024

I am joined by Andrew Parish and Tillman Holloway, co-founders of Arch Public, who are going to break down the latest in crypto and provide their vision of what wise investors should do now to profit from these market conditions. Andrew Parish: https://twitter.com/AP_Abacus Tillman Holloway: https://twitter.com/texasol61 Check out The Arch Public: https://thearchpublic.com/ In the second part of the show Dan from the chart guys will share his market analysis and some trades.  Dan The Chart Guy: https://www.youtube.com/@ChartGuys ►► JOIN THE FREE WOLF DEN NEWSLETTER, DELIVERED EVERY WEEK DAY! 👉https://thewolfden.substack.com/   ►►OKX SIGN UP FOR AN OKX TRADING ACCOUNT THEN DEPOSIT & TRADE TO UNLOCK MYSTERY BOX REWARDS OF UP TO $60,000!  👉 https://www.okx.com/join/SCOTTMELKER  ►►TRADING ALPHA READY TO TRADE LIKE THE PROS? THE BEST TRADERS IN CRYPTO ARE RELYING ON THESE INDICATORS TO MAKE TRADES. USE CODE ‘25OFF’ FOR 25% OFF WHEN VISITING MY LINK.  👉 https://tradingalpha.io/?via=scottmelker ►►NGRAVE This is the coldest hardware wallet in the world and the only one that I personally use. 👉https://www.ngrave.io/?sca_ref=4531319.pgXuTYJlYd  ►►NORD VPN  GET EXCLUSIVE NORDVPN DEAL - 40% DISCOUNT! IT’S RISK-FREE WITH NORD’S 30-DAY MONEY-BACK GUARANTEE. PROTECT YOUR PRIVACY! 👉 https://nordvpn.com/WolfOfAllStreets   Follow Scott Melker: Twitter: https://twitter.com/scottmelker   Web: https://www.thewolfofallstreets.io   Spotify: https://spoti.fi/30N5FDe   Apple podcast: https://apple.co/3FASB2c   #Bitcoin #Crypto #Trading The views and opinions expressed here are solely my own and should in no way be interpreted as financial advice. This video was created for entertainment. Every investment and trading move involves risk. You should conduct your own research when making a decision. I am not a financial advisor. Nothing contained in this video constitutes or shall be construed as an offering of financial instruments or as investment advice or recommendations of an investment strategy or whether or not to "Buy," "Sell," or "Hold" an investment.

Is the great crypto crash of mid-March 2024 over? Do I get a t-shirt that says, I survived the recent bear market? Bitcoin has rebounded. Ethereum has rebounded. Doge is pumping like crazy. Big bounce across the markets. Is the bottom in? And if so, what is coming next for this market? Also, we're going to talk about Ethereum gate and all of the FUD that we just saw coming in seemingly at the same time against Ethereum yesterday. I have two of my absolute favorites who you guys have not seen on the show yet, who I talk to a lot behind the scenes. I've got Andrew Parrish, Tillman Holloway, the men from Archpublic. We're going to chop it up and we're going to tell you some exciting news about things

we have coming up together as well. Let's go. the fuck I'm doing here. But there's a little button that's a bell or something that'll tell you when I'm going to be doing stuff and then you'll know. Okay. That's pretty sure somebody tell you that. Anyways, guys, I'm going to go bring, go ahead and bring them on right now. I got Tillman Holloway and Andrew. People haven't seen you guys on the show, but Andrew, they hear you on spaces all the time. He's the abacus guy who's always giving us the deep inside information that nobody's supposed to know yeah man it's uh it's fantastic to be here a lot of stuff going on with gensler and the sec and ethereum um some really good stuff yesterday and stuff that frankly i was expecting so it's awesome to be here and awesome to be talking about it andrew always knows till but i don't know what's up tell I have a really important question for you.

If, let's say we were in like a six-foot-wide hallway, 50 feet long, 100 chances, how many do you think I could get past you running at full speed? Well, you know, there's a bell curve to everything. So maybe a couple of times you'd get past me, maybe a couple of pokes in the eye, something like that.

Yeah, you guys might not know. How dirty you got, basically. Yeah, I'm good. I'm just going to be dirty. Tell me, tell me, one of the best offensive linemen probably in the history of college football in Texas. And now, talk about the other SEC. I'm a Gator fan, and you guys are coming to our SEC to make life a lot more difficult for us. Consolidation of power.

It's going to be an interesting, interesting few years. I think it's going to be short lived, to be honest with you. I think they're going to have to make a super conference here pretty soon. I think that's where everything's trending. Well, that's the SEC I like. Let's momentarily talk about the SEC I hate. But first, we got Bitcoin top 67K on dovish Fed remarks, Ether rebounds from SEC fears, Doge soars. Andrew, we had this kind of wild situation yesterday where we got this very vague report that Ethereum was under investigation from a state authority, right? We never even said what state it was, what was going on. And then quickly, Fortune, that was here.

And then quickly, Fortune immediately released an article saying, SEC probing crypto companies and Ethereum investigation as hopes for ETF dim. Seemed a little bit fishy on the timing of all this really coming out at once. So it was now more than two months ago, about two months and a couple of weeks. And it was the day after launch day of the Bitcoin ETFs. And I had several long conversations with two guys who were on the floor at the NYSE launching BlackRock's iBit product. And flat out, they told me that people at Jane Street, who were standing there with them, Coinbase that were standing there with them, and BlackRock that were standing there with them, that the chances of an Ethereum ETF were slim to

none. And so you have to think that those types of folks who have been in the rooms with SEC staff over the course of the last six months, you know, I would assume that the Ethereum ETFs came up a time or two and they were probably told, hey, listen, we're not going in that direction. You're lucky that we're doing this. It probably didn't help all that much in the short term, by the way. And I know these were Solana tokens, but the rise of the Elizabeth Horan token, I would think that Elizabeth probably

made a call to Gary Gensler and said, I don't know what's going on here, but can you shut this down? That probably wasn't all that helpful to the quote unquote cause in the short term. So, you know, some of this was predicted and understandable, while at the same time, it's, you know, we're talking about government agencies that are, they don't have a check on their power, right? So another note that I got yesterday was Gensler doesn't care about losses in court. He doesn't care what CT anonymous accounts say about him in the short term because it doesn't register. And oh, by the way, they got smacked by a court the other day and sanctioned and there's going to be fines. They don't care about those fines either. Why? Because we as taxpayers pay those fines. They're literally going to take from

their budget, which comes from the taxpayers, and pay those fines, right? So, you know, context, right? What's the context of what the SEC is doing? What are the outcomes? And then frankly, what is the alpha that can be grabbed from those outcomes? We can be pissed off about the outcomes and be pissed off about the SEC. But how do we leverage that for potential returns in the short and long term? I think it's massively bullish for the Bitcoin ETFs because from a retail wealth management, retail, trad fi, retail, 99% of people that are out there not trading Elizabeth Horan, you know, meme coins, the only access they're going to have to crypto is a Bitcoin ETF. So those flows in the medium and long term will accelerate.

Yeah, I was never that bullish on Ethereum getting that much attention, even if the ETF was approved, to be honest, a fraction, I would think, of Bitcoin. But still, it just would have been, I think, nice to see the industry moving. I don't think it's over, but I agree with you. It happens, just not with Gary, right? But, you know, let's talk about the kind of the fact, Tillman, Ethereum bounced massively on the bad news, right? Even more than bitcoin but then

we also at the same time had fomc powell came in kind of dovish obviously like pal just keeps saying the same and people interpret it however they want if you ask my opinion but we saw a major move obviously you're you guys and we'll get into it you guys are aggressively trading this you have an algorithm that does it till when you've been, I mean, you've been mining Bitcoin since like 1947 or something. And right. So you have a pretty good pulse. But like, what do you make of the huge bounce we saw in the market? And do you think then that the bottom is likely it? Well, I think there's always a reason behind these bounces, right? And the excitement about the money flow and the amount of money that's going to come into the market over the next six months is what we're seeing

as a response. Ethereum, you know, y'all talked about whether it should be, you know, in the same category as Bitcoin. Like you said, I started in Bitcoin and I started as a miner and I learned the technology and I fell in love with the technology, not from an appreciation perspective of Bitcoin itself, but because it was fair and equitably distributed. And so if you look at proof of work and you look at how we're 90% through the curve on Bitcoin and anyone who has a Bitcoin or a fraction of a Bitcoin either paid for it, mined it or stole it. Those are the three categories you fit into, period, the end. And if you look at every other coin that's ever been created, you cannot say the same thing. There was an unequitable distribution or allocation of that currency at some point during its history.

And so, you know, there needs to be further investigation into how those coins were distributed. That's an important part of the industry. You can't have the industry being led by meme coins, which is essentially the ultimate display of what this is. And so I think function, utility, store value, those things are important. Those need to be on the front page of every headline because that's really the value that this technology can bring to the market. So that's kind of my soapbox about Ethereum and kind of the rest of the bunch. The market is exciting right now. I mean, yeah, we are seeing a huge pump. I think interest rates are, I think we're all comfortable that they're at least on hold for a while, if not coming down. That's a huge driver. I mean, if you look at what the key sectors are that we're always variable rate perspective, if you're an investor and you want to hold a development for the next two years, that that's becoming unsustainable at these rates. And so I do think we're going to see a massive surge in activity.

And that's obviously obviously a good thing. I mean, America is always the leader in the economic drivers. So I'm excited to see what happens. I don't know how long it will be sustained, but I do think that, you know, make hay when the sun is shining is the point. I've become a hell of a lot more bullish on the ability of the United States government to kick these cans down the road. I was definitely one of those recession has to come. Every indicator says it.

I've got my my like doomers who come on every Monday and tell us about the great reset. Shit keeps going up. Listen, I've been hearing about the great resets and, you know, since the 80s. But when I was a kid, when We've seen interest rates get to 20% in my lifetime. Think about that. I mean, we're nowhere near that right now. And people are going, the sky's falling, the sky's falling. No, we incurred a worldwide pandemic that put everything into a state of limbo for a long time. It's hard to start a machine as big as the global economy without it taking a while. And so we've seen that while, and I think now these liquidity pumps are being utilized for investment purposes, which is a good thing. I mean, if you want to see an indicator of

the hope that lies in a nation, it's where they put their money and putting it into the market and putting it into alternative investments and putting it into all these things that I think the retail investor is through technology getting access to. I think that's an exciting, it's an exciting time to live in. It's access to things that we've never had access to before. Yeah. And I mean, as for this specific correction that I sort of mocked at the beginning and said, I survived the correction of like the last four days, the bear market, very traumatic. I mean, Andrew, bottom likely in, right?

Yeah, I think it is. And, you know, even more appropriately, as it relates to Ethereum, like we survived the crash of four hours yesterday, right? So, you know, that's very typical of crypto, right? You know, you survive, especially in the last, you know, four to six months, there have been these sort of not necessarily flash crashes, but, you know, news focused, news based movements or corrections in the crypto markets that are very, very short lived. I mean, the reality is, functionally, there's a specific to Bitcoin,

there's a buy wall that exists there, right? There's a buy wall associated with, you know, the likes of, you know, BlackRock and Fidelity. These are the, you know, two of the largest financial institutions on the planet. And their Bitcoin products are some of the most popular overall financial products in the market right now. Right. Both of those products are in the top five of inflows so far this year for all ETFs. Right. That's hard to fathom. You know, we're in crypto, right? We're in the Bitcoin space. We talk about it all the time. You know, we're in crypto, right? We're in the Bitcoin space. We talk about it all the time. You know, we're kind of in the bubble.

Like, take yourself out of the bubble and people are like, what in the world is going on here? Like, what is that? It's like a version of an oil and gas, you know, mining ETF somehow becoming one of the top five ETFs for this year. Like, that would be weird. weird. That would be strange. They'd be like, okay, what in the world? Where is this coming from? What's going on? The point being is, there's going to be periods of asset allocation processes over the next two, three, four, six months where people are going to sit down with their financial advisor and say, what's the deal here? Why is this the best performing ETF? And you haven't said anything to me about it. What in the world's going on? So that's going to happen. It hasn't happened yet,

which goes to the bullishness of Bitcoin ETFs even further. All of these inflows are happening without there being a huge groundswell, again, outside of crypto Twitter, of visibility associated with these products. Yeah, these things are not out there as much as we think they are. Go ahead, Tyler. I just was going to say, I think a lot of people are missing the forest for the trees as it relates to what this shift really means and what's happening. When the ETF started, what we had was a shift in market maker. The market makers of the crypto industry used to be the Binance of the world. It's not anymore. That shift is going to bring tighter and tighter pricing spreads and less and less volatility over time. So when you look at these quote bottoms and people saying, you know, we've had pullbacks in

the Bitcoin market, every bull run that we've ever been on, right? And the pullbacks have been extremely violent. That doesn't mean that there are many bear markets. It's a bull run with massive pullbacks. Now, what's hopeful and what's positive is that you look at the pullbacks of the past, and then now you look at the pullbacks now that the market maker has shifted to responsible market makers that understand spread and understand how to get the buyers and the sellers at a willing price, because that's what it's all about, right? Where the most transactional volume is going to take place. And so the more exposure, the more rollout, the more customers that come online in the ETF space, the more power the market maker is going to have to keep the volatility at a minimum, right?

So we're seeing much shallower corrections this entire run. And we saw slightly shallower corrections last run. This is 2017 right here. I keep sharing this chart. 41%, 38%, 30%, 35%. I mean, there was one correction that was under 30% basically at that point. They were talking about 15.5%, right? The market after that was 21, 16, 31, 26.

Then we had the 55% drop down, 25. Now we look at literally it's like 22, 20, 21, 21, 50. That's this market. Our largest correction from 17,000 to 74,000 new all-time high was 22%. I mean, anything that's measurable and that you can see an improvement in, there's an architect behind the improvement. And the architect is these new large financial firms like BlackRock who have taken the lead and that are going to be the future market makers. If more liquidity is flowing in through those markets, then they're going to have the tools and the bandwidth to really lock these prices in and get willing buyers and willing

sellers together more quickly when you see these free falls or when you see these large pumps. And that's what we want. We want it to be a store of value, right? It's hard to, we have to, as a community, be able to be critical, right? It's like my therapist says, progress, not perfection. This one's better than the last one. You have the same therapist as me. But there's room for improvement, right? And the room for improvement is that hopefully we will see so much liquidity in this space in the future where the pullbacks will be almost unnoticeable. I mean, it will be a very small blip in the history of the price swings. Well, and to be fair, the reason why he has a therapist is because as a partner, I'm just an incredible pain in the ass.

I literally met you a couple months ago and I go like three times a week now. Yeah, that's right. Right. Right. So, you know, I take that on. I'm okay with it. Right. I'm okay with it because as he said, it's progress, not perfection. I don't claim to be perfect. It's all about progress. Right. So when there's a difficult moment, I just raise my hand and say, Hey, Tillman, this is about progress. Right. We were joking before we got on for the audience that, you audience that Tillman gets real uncomfortable if we start saying bad things about the SEC, considering history and wanting to be on the right side of things.

I said I was just going to do this every time we mentioned the SEC. Let's go, Popov. We'll let him stay on. But yeah, listen, I think that we have just a different market this time. I don't like to say this time is different, but when you have this steady bid coming in from ETF buyers and you have those unlocks happening so slowly, new IRA comes online once a month, right? Or whatever it is, that should at least make, we will have corrections, but they should be more shallow. You shouldn't be able to see a 50% drop off if that bid is in. But Andrew, I want to ask you, because I know that you are

the president of the Barry Silbert Fan Club. Of course. And you love, love Grayscale and GBTC, DCG in general. We've seen a, I think Eric Balchunas, who I had on yesterday, called it a second wind of outflows from GBTC. We had seen this huge outflow, which was obvious to anyone at the very beginning. That's when we saw Bitcoin drop from 49 to 39, right when that started. Then they trickled down to 30, 40, 50 million a day, well outpaced by all the other ETFs. Well, now we're back to like 600 million a day on GBTC outflows. Right. Yeah, there has been uh as of the end of the day

yesterday there's been 1.5 billion in outflows for gbtc just this week so in three days so that's an average of 500 million a day um we've gotten to the point in that particular story where um i think people uh that are in that trade, and again, I got some messages about it earlier this week, where there's just a large swath of people that are just like, I don't care about the tax ramifications. I want out of this product. I want out of this product

because of who it's associated with. I want out of this product because they're just spitting in our eye as it relates to the fees um it's hard to quantify the conversations that had to be had inside of that organization to say we're going to keep fees at one and a half percent when they're it's it's free well there's a better market there's a better market maker. That's the point.

It's like there's professionals that have stepped into the role, which is a huge kudo to the market. I mean, think about the people who we can call advocates this bull run versus last bull run. Think about the list of people on the world stage of finance that have come over to our side of the fence this go around. I mean, Larry Fink would be the first guy. I mean, he's been saying on public television, everything will be tokenized. I mean, think about that. I mean, that is a radical shift in perspective. And so I believe in free markets. And so I get uncomfortable when

people are pushing narratives one way or another, because the market will respond. If the value proposition is there, and the delta is created, the delta of change, the delta of efficiency, then the market will gravitate towards that. And we're seeing that. I would say this, like Bitcoin, in my opinion, what it's done from a proof of work and fair and equitable distribution of wealth over the last 10 plus years, it's never been done in the history of mankind. You don't have to defend it. It is its own defense. You can't argue with it. It's technology that if you understand it, you're saying this is a masterpiece. This deserves to be put in the highest level of admiration and

achievement that the financial sector has ever seen. And what we're seeing is the biggest entities that control wealth on the planet start to recognize the efficiency, the real utility behind the technology. That is an exciting thing to see. And so not to oversell Tillman in his experience, but, you know, he's got two generations and a long history in oil and gas exploration in his family, you know, on the ground type stuff, which led him to the idea of, wait a minute, there's real math and there's real equitable distribution associated with the mining of Bitcoin, right? Well, I fell in love with the notion that the whole world could be banked through a network that requires only electricity to participate. That's a really

powerful concept because inclusion today is what we're after we want a broader market we want more participants we want the the technology to change more and more lives well access to that from a mining perspective proof of work in my opinion is one of the most perfect um you know inflationary curves that you could you could have put on any technology. So I just think that there's a lot of appreciation. And I would not call myself a Bitcoin maximalist per se, because I do believe that the blockchain itself will be used for lots of stuff. But I do believe from a store of value perspective, and a fair and equitable distribution distribution and a security of technology,

all of the above, Bitcoin really needs to stand by itself. And if there's no other ETF option, that's good for Bitcoin ETF, right? That's the way I look at it. So it's a positive or we're stepping in the right direction and that network won't fail. But by the way, I at it. So it's a positive. We're stepping in the right direction. And that network won't fail. But by the way, I don't think this has been said because people forget. But the points that Larry Fink has been making for the last six months on tokenization of real world assets, that's equivalent to him being on stage at NFT week in Miami and saying the same things as many people said, you know, at a kooky, madooky, you know, funny looking, you know, NFT conference from three years ago, right? Literally the same points are being made by the largest asset manager on the planet. Have we taken that in? Have we thought

about that? Have we given that, you? By Larry, that is, you want to talk about bullish, right? You want to talk about bullish. I say there's four branches of the government, right? We've got the judicial, the executive, the legislative, and BlackRock. I don't really care what Elizabeth Warren and Joe Biden have to say.

Larry Fink's their boss. Right, exactly right. So that. And that should be the thesis behind how you choose to navigate these markets. It's interesting that there may be some inflections of price associated with a story from Fortune about the Ethereum Foundation. Interesting, right? But more interesting is what BlackRock is doing on Ethereum, right? What BlackRock is doing with the fund that they opened up and they registered for. Tillman, I don't know if you saw that, but BlackRock registered for what is it? A hundred million. Yeah, they put a hundred million. B-U-I-D-L also.

They went full D-Gen with the name. Yeah, B-U- Yeah, BUIDL. So it's a project where they're on the Ethereum blockchain. They're, what is it, a dollar denominated sort of product? Yeah, there's a lot of conjecture. It might be something stable coin-ish, but more like a real world asset tokenization, real world assets. It's kind of vague. Yeah, but they did

register it you know you have to start somewhere and you know that's where you would start if if you were pursuing the tokenization of all assets you'd start at the second in command ethereum go ahead please i just i think there's such a ridiculous deep dive that has to be taken beyond Bitcoin as it relates to the nuances of each tech and each chain that you choose. I remember seeing clips and articles as far back as probably six years ago about Ripple working with X bank and Y bank and this. And, you know, I think there is a lot of companies that are buying that education right now and doing the deep dive. And is it encouraging to me that they are looking at this with Ethereum? Yes. But do I think that when they look at avalanche they're going to have a lot of questions to answer as it relates to what the future holds i think you i

think they will i think they just don't have in a cycle will this all be on bitcoin or will it all be on bitcoin in a cycle right well and and i think there is so many people that would want that to happen and they have the means to deliver that. I do think that's probably where it all gets concentrated at some point. So we got to talk about to our face. First of all, someone said, what is with the beards in the U.S.? And he said, do you not sell razors in the States? No, we actually we have no razors left because we just give them to homeless people in sell razors in the States. No, we actually, we have no razors left because we just give them to homeless people in California

and immigrants on the border. If you watch the news elsewhere, that's what we're doing with our razor blades. So that's why we can't shave. More importantly though, two things. So first we're going to go over time with you guys here. I'm sorry. I want you to tell us about ArchPublic

and what you guys actually do and why it matters because these guys have uh they've cracked they've cracked the system and i've been running it on my computer and it's bananas so give us the quick elevator pitch then i'm going to give them the news yeah sure so arch public is about bridging the gap of technology to the retail consumer if you have ever heard the terms high frequency trading, the vast majority, 70 plus percent of the volume that happens in the markets is through automation, is through automatic trades that a computer program is executing for you. We are trying to bring that to the retail consumer at scale. So Archpublic has trading automation that works with U.S.-based broker-dealers.

TradeStation is specifically the one that works on their platform. And you can load it into your computer. You can control it yourself on your computer. It's completely user-driven. You can change the parameters of what you want from an output perspective. And it will do those things for you without you having to sit at your computer and do them yourself. And it does it better than if you were sitting at your computer and doing it yourself. It can do the math a lot quicker than you. It can execute the trades much more quickly as it relates to putting in the orders.

So there's advantages that are coming down the pipe to retail traders that they've not seen before. And we want to give them that exposure. We want to create as big of an on-ramp as possible and let people see that technology for themselves and play with it and see if it's something that they want to incorporate into their daily lives. But the coolest part is that it can trade any market. But to be clear, you're trading S&P, but you can settle into Bitcoin at the end of every day. Yeah, so we're trading futures. And so BTC does have a futures market. So that is something that is viable.

But what we're trying to do is work within the framework to give our consumers the greatest advantage. Futures contracts have something called the 60-40 rule. And please consult your tax professional. But you get to tax more than half of your gains in long-term gains versus short-term, even though you're day trading them, that's a huge advantage, right? And so we're trying to create products that have all of the full encompassed viewpoint in mind and trying to get somebody something that at the end of the year, they can push a button and get their taxable information downloaded off TradeStation and have the advantage within those trades to be taxed at the lowest rate as possible. So there's a lot of advantages. We can talk through all of these with our customers. We consider this a labor of love in educating people and getting people really exposed to this type of stuff.

Because once you see it, you start to say, aha, the idea is to free up your time, to not make your entire life about trading and about being a professional trader and waiting for breakouts. If you think that there's a breakout that's going to happen at a specific point, why do you have to be at your computer when a piece of software can execute that trade for you. Yeah, it is a jump in. Yeah, it is a for 50 years, Renaissance Technology, Citadel, you know, all the biggest hedge funds, market makers, and, you know, Wall Street firms have used automation to trade. That's why I think it's 73% is the exact number of all trades across the globe happen in an automated way from a computer. That's been happening for 50 years with Renaissance Tech and Jim Simons.

He's kind of the father of automated trading and high frequency trading. And we've worked and worked and worked now for four years to be able to give products to people that do two things. Hand that technology to them so it's not just in the hands of guys with billions of dollars. And then secondarily, give them an opportunity to generate real returns or passive income where they don't have to buy an Airbnb. They don't have to invest in something that could get a return in six months. It's right there happening in front of you. And you don't have to sit at your computer. You turn it on, you check it once a week, once a day, however you want to check it.

And it's going to do what it's been built to do. And so you get your time back. You're not sitting in front of your computer on crypto Twitter for 22 hours a day trying to find the next job do that for the meme sir yeah right for the next joe buden token to go up 37 000 and then come down 35 300 in 45 minutes right like you know if that's the life you want to live cool that's not the life i want to live i want something that'll do it for me i don't want to think about it worry about it set it up let it go well and that's yesterday ran said that uh he

he finally went into the shitcoin meme casino and then it was more fun than going to the movies with his wife or like going to the national casino but he was like it's just so much fun that's why i'm doing it go ahead tell me before we gotta run in a minute. I just was going to say, the real distinction here is that if you've been in the crypto space, you've been exposed to automation, you've been exposed to bots, if you will. But they're always on overseas exchanges. You have to send money to people that you don't trust. The difference here is that TradeStation is fully in support of what we're doing. We have an agreement with them to support our customers, and they know that our customers are trading automation. Their platform has been built to receive it. And so when you have an issue, you have somebody to call. You have a full support

team in the United States of America. TradeStation is a great group of folks over there, and they're going to be ready to serve you in a way that you've never been served in this area. Well, Scott, you know that I love the idea of taking daily, weekly, and monthly returns from our algorithms and put it in a Bitcoin. Put it in spot Bitcoin, put it in a Bitcoin ETF know put it in spot bitcoin put it in a bitcoin etf that turbo charges the returns even further and uh you know it it's a it's a cheat code so to speak um but here's the deal it's a cheat code where you're not actively involved with your fingers on a day-to-day basis right it's built to do it for you so pretty pretty remarkable stuff we'll

talk about more in the future because that's the announcement. I told you guys that I partnered with Mario over at IBC. We're building out the channel, a lot more content. You know, I added Trading Alpha on Thursday, on Wednesdays, Market Mavericks in the afternoon on Thursdays. Well, the three of these guys with the amazing, my beard sucks, but my slight beard and the two bigger beards joining forces every Tuesday at 3 PM Eastern standard time, we're going to dig deep into literally exactly how to trade these

markets. What we're looking at much more sort of deliverable alpha than this theoretical conversation. And I'm just going to count on Andrew to bring me some tidbit of future information that nobody else knows about every single week to tell me every time, every there's like some enforcement action or something have you ever guys watched ever game of thrones i know i have to apologize to dan in the back we're running over but you ever watched game of thrones you know the character varus like yeah i'm not saying that you're neutered or or anything um but he has his network of little birds like he's got all that that's you yeah that's strange because the little birds came to me without me asking like i i still i still don't understand how i got in this position

but i'm fine with it you know i'm running with it it's good all right well now we got to take our little birds elsewhere andrew telling guys to follow them both on x if you can find andrew he's got the shadow band for one of your little birds apparently i reported you for something but yeah they're both tagged right down below and next tuesday we'll be starting at 3 p.m so you can see a lot more of these guys uh i'm looking forward to it because i have i have held it up for months for some reason when you guys have been pushing me and i'm the worst so glad we're gonna finally get that got that rolling uh tillman we're gonna see you in the hallway. All right, guys. See you. All right, guys. That was awesome.

Yeah, we went over time. So I'm going to go ahead and bring on Dan. I want to see, obviously, every Thursday Dan comes on and shares his charts. I want to see where he stands on whether the market has bottomed here and what his signals indicators are saying. I think, Dan, it's likely that big bump. That was about it. 15.5% correction and move on with our lives.

What do you think? Yeah. And definitely having, you know, for the people that want a fundamental reason, and you can look at, well, the broader market, the FOMC, you know, full steam ahead. We're seeing a bit of follow through overnight in the stock market. So definitely confidence returning. And right now I'm on the 12 hour timeframe for Bitcoin. So even if we do stall

out here, we can see this previous resistance right around 69,000. But even if we do stall out here, we'll just be looking for a 12 hour inverse head and shoulders. And I know I interact with a whole bunch of traders. There's a bunch of them that are looking for an entry on a 12 hour higher low. So there will be some dip buyers out there. It's just a question of do we get it or not? But as you mentioned, the weekly chart and just the dip, this is picture perfect at this point. I mean, this is textbook bull flag as far as the retracement size and just no red flags whatsoever. Yeah. You talk about that 69 level, obviously locally is important when you zoom out to the weekly. I mean, that's the previous all-time high, right? And to the penny, when you look at it on this chart, two weeks ago, the candle died exactly

there, right? With a slight wick above. Then we opened, wicked all the way up to 74, closed below 69. And then this last candle wicked just up to 69, right? So clearly 69 is the level to beat in my mind. So I think the bottom's in, but if we're trading above 69, for me, that's when I'll be really convinced that we're good to go. And it may take a little bit, you know, it may take into next week or even a little bit longer.

We saw the last time around, you get to the all-time high, you trade around it for a bit before getting that next leg up. And one of the things I want to point out is, you know, we've talked many times about the dollar. Just want to keep an eye on it because, you know, we're getting ready for a break here on the dollar.

We've just been tightening up on this weekly chart for many months at this point. And, you know, if you're a crypto bull, you're hoping that this is a weekly lower high being set and you want to see the dollar roll over there and break $102.35. And, you know, people say, you know, it's not really helpful, but on a macro perspective, this is the last time Bitcoin had weekly consolidation, and this is the last time that it had weekly consolidation. So it's definitely worth just keeping an eye on. And it's one little piece of the puzzle, but if we want full steam ahead and full confidence for continuation, you want the dollar to be breaking bare as Bitcoin is hitting new all-time highs. Yeah. And listen, I don't think the assets are generally correlated, but it's hard to ignore the fact when things like FOMC happened and everything pops at the exact same time. So there

definitely is an element of money. And I think especially with ETFs now being traded by TradFi, where these big events are going to affect sort of the moves of Bitcoin, certainly. Yep, I agree with that. Another thing I'm keeping an eye on is the miners again, just, you know, we had that period of relative weakness that caught a lot of people by surprise. And I was, you know, playing bearish a lot in these miners, but I'm back to looking bullish, just yesterday was a big day for the miners.. CLSK is one of the major ones. I haven't been trading this one a whole lot, but I look at CLSK on the daily chart. This is one in hindsight where you just hit yourself in the face palm. Look at that support. We just held it,

held it, held it, and then a significant 35% move or whatever off of it. And so it's one of the stronger miners. I watch MARA just because I've been trading it a lot more. But essentially, the next week for me is going to be, can the relative strength return? The last few days, the relative strength has been returning. Does it stick around? And this weekly higher low in Bitcoin, is that a new surge of confidence for these miners to start outperforming Bitcoin again a bit in the short term. A quick question, which MA is that? You've got it right there that Merit just broke above, but on the CleanSpark chart, it looked like that was major support. Is that the 50 or the 20? I've got EMA 12 and 26 here. So yeah.

I'm just looking at the one that's clearly bouncing off over and over again. Yeah, that's the 26 there. Yeah, it's it's just showing more relative strength and then marathon even when you when you kind of take it in that perspective, because it never lost that when Mara is kind of struggling to get back above it. Yeah. And even just looking at CLSK divided by MARA to just, you know, compare the two, this is an uptrend, which means CLSK has been outperforming it for quite some time. So, yeah, that's, you know, it's almost like, all right, you know, I've been dating MARA. I'm very comfortable with it. I need to, you know, explore the other, get comfortable with somebody else.

And polygamy, a little stock polygamy. I like it. I think you got Tesla up next, man. What's been going on? Yeah, just keep an I like it. I think you got Tesla up next, man. What's been going on? Yeah. Just keeping an eye on it. Again, if we get continued confidence and this market stays in melt-up mode, it's going to start looking to laggards and certainly has been underperforming big time. And just watching, for me, it's zoomed out. The premise of my thesis is, all right, long-term three-month timeframe, Tesla, a three-month higher low compared to that

101 low is the most likely scenario to keep tightening up for me. And so I'm looking for that. And this might be starting to shape up. I have to see relative strength return. And it's trying to, it's just been relatively weak for so long because the semiconductors have been stealing the show, but I'm going to keep an eye on that. And if Tesla can start showing us that bulls are getting interested again, it's another one where I mentioned the Bitcoin 12-hour inverse head and shoulders. This one, if we top out here and then pull back, it could be a daily inverse head and shoulders shaping up. But essentially, I just know that I'm going to want to make an attempt on that longer term higher low eventually. And so starting to pay attention a little bit more closely into the next week or two to possibly make that attempt.

Yeah. Love it. What else you got? Cannabis and psychedelics, just a quick check-in. So we had cannabis get a nice run again where Kamala Harris said, hey, DEA, hurry up and let's reschedule here. And so again, it's the headline game. We're just waiting for the headline here. It feels inevitable. It really does feel inevitable now. I mean, probability wise, it's high that it's going to happen. It's just when it could happen tomorrow, it could happen in four months. It's a very wide window. And so it's just, you know, patiently waiting because if MSOS, you know, I mean, we just got to get back to fresh highs and that may take a little bit, but again, just paying attention to the headline surge.

And of course the psychedelic space we mentioned a few times and then MB after that pop and significant profit taking is just doing his grind back up. So, you know, bulls don't have anything to worry about. And it's the kind of sector where when you have significant market confidence, I view these as stock market altcoins. I mean, these are the bottom of the barrel as far as highest risk, highest reward. And if people are confident throwing money at everything and it's all right, what's next? Where can I put my money next? These are some of the names that definitely benefit from that kind of market environment.

And that's one that we are in at this point with this. S&P 500 melt up is unlike anything I've ever seen just in terms of the magnitude of the straight up nature. And, you know, it's just a question I posted on Twitter yesterday. My mantra for this melt up is, you know, do not fight the bulls, but be prepared for bears, just in the sense that we know how euphoria ends. And there's so many monthly charts that I could pull up, whether it's semiconductors, Eli Lilly, Wingstop, Abercrombie and Fitch, you know, all these names, you look at their monthly chart and it's like, okay, well, I've seen this a dozen times. I know how this ends. It's going to end fast and hard. Eventually I'm not going to nail the top, but I don't have to in order to take advantage of this. So ride the bull momentum, do not fight it, but just be aware that at some

point, you know, the harder we run, but just be aware that at some point, you know, the harder we run, the harder the pullback is going to be. And so I'm just watching. I did not see this chart. I'd never say I did not see this chart. I just zoomed in 10 bucks to 137 bucks. 14. Yeah.

Abercrombie and Fitch, man, the shop. I mean, look at Wingstop. These, these names, they're just, it's got 67 to three. It's just, these things are, you know, again, it's, it's got 67 to 3. It's just these things are, again, it's all bull. We're not going to fight the trend, but we're aware that when the shift happens, we can easily see very significant pullbacks. And I'm looking for this melt-up to continue into the summer. And if we get another 10% plus in the S&P 500, there will come a point where it's all right, get ready, because, you know, same as 2021, just straight up off the CBD lows and a big pullback once the

music stops. So, again, don't fight it. Escalator up, escalator up, elevator down. So the good news is that people in crypto are trained for exactly what you're describing, because we do this in a day rather than waiting six months or 12 months or two years. Yeah. I mean, that's what I guess. You can do it in a meme coin in 10 minutes. We're great at this. Yeah. A big pullback in Abercrombie & Fitch would be a 30% drop. And as you mentioned, everybody in crypto, 30%. Okay. I've done that 10 times. It happened while we were talking on some meme coin that just got funded randomly. Last question before I let you go.

I mean, we obviously had the Fed staying on track saying maybe three rate cuts rest of the year. I mean, did anything surprise you with what Pal said? I'm not saying you listened to the entire thing, but like, or is it just, to me, it just feels like par for the course. Predictive markets go nuts. Everybody tries to guess and he just says the same thing at every single meeting. Yeah, nothing is changing. And, you know, I honestly, I haven't listened to one word he's ever said during a conference because I just watched the chart when he's talking and I

know he comes on at 230. I know to look for the volatility spike, but yeah, it's just, it's the same thing. And, you know, whether we actually get three cuts or not remains to be seen. I would be a little bit surprised if they did that. But, you know, whether we actually get three cuts or not remains to be seen. I would be a little bit surprised if they did that. But, you know, if there's one thing that we know, it's that the Fed is laggard. They're pretty slow in terms of not really thinking ahead too much. And again, that's part of the thesis for me is if we keep running up massively this year and, you know, things get nutty and everybody's going to be leveraged long. Everybody's going to be bullish. And for me, that means get cautious and get ready for leveraged longs to flush out.

And we see it on Bitcoin all the time, the leveraged longs, like you mentioned, just real fast and hard. But in the broader market, it's going to take a while for that to happen, a couple of months, but definitely watching for that eventually. Maybe like one day after the election. Yeah, right. That's the other thing. It's like, yeah, the election, so many people are like, oh, it's an election year. It's an extra safety net almost. And maybe it is, but play long as long as it keeps working, walk your stops up and then just mentally prepare yourself. I know how euphoria ends. I can look back at plenty of examples. I've seen it before.

It will be hard and it will be a massive shift. The market loves to go from FOMO to fear and fear to FOMO as fast as possible. And so just prepare for it and have a game plan. You know, if there's a spy, I mean, spy has not confirmed a daily downtrend with a lower high and lower low since the October lows. So I can make a little note in my head. The next time spy has a clear daily lower high and lower low, I can make a little note in my head. The next time SPY has a clear daily lower high and lower low, I can say, this is different than anything we've seen in the last X months.

And so just make little notes like that to let you know when something is shifting, something that hasn't happened in a prolonged period of time. Yeah, totally agree. Guys, follow Chart Guys on X and of course his YouTube channel. And I love the little videos you've been doing a lot of. They're really, really helpful. So you can find those, obviously, in all those places. Stay bullish while, what did he say?

Make hay while the, I forgot the term that Tillman used, but yeah. Make hay while the sun is shining, right? Because you don't want damp hay. It gets all mildewy. I think so. Yeah, you don't want to do wet, dark hay.

It's bad. I know that. All right, guys. That's all we got for you today to do wet, dark hay. It's bad. I know that. All right, guys. That's all we got for you today. Of course, got spaces. We're doing a meme coin spaces, Dan, at 1015. So for me, way out of my element, there's this project called Catboy

that my wife's cousin called me a month ago and his friend, and they talked to me endlessly about this amazing thing, Catboy, and we're letting them come on Spaces today because my wife's cousin. So that should be entertaining for me. Wow. All right. I hope they do well. I hope they look good. Catboy. We'll see. It's going to be awesome. Yeah. I'm holding some Catboy now just in case. So, you know, I'm convinced. You can't be wrong. Yeah. I get some Catboy. Anyways, guys, that's all I got for you we will see you on Spaces

and then Market Mavericks this afternoon of course tomorrow morning back here with NLW for the Friday 5 thanks Dan thank you everybody see you soon bye Let's go.