REAL BITCOIN EXPLOSION HASN'T BEGUN?? [why THIS news may change it all]
As short positions were squished and squashed like a no coiners life savings, after depositing it in a bank to earn negative interest and with beautiful granny, janet yellen. Now suggesting an elimination of the debt ceiling allowing trillions more to be printed, did crypto just get the green light to pump on us very bigly, your host bobby butter snatch and much like an unfaithful husband. We are about to betray our morals and perform tna on another womans charts, absolutely very big. We have so much to be jumping into a bitcoins price and a few absolutely major announcements as well. So if you get a new channel, make sure that, like subscribe, turn on those ghost notifications, so you never miss these absolutely time sensitive alerts as well make sure to join our pool if you want to earn interest on your ada risk free and as well. If youre interested in other bonuses or anything make sure to check out the pinned comment below and without any further, my goo lets pump on in wow, janet yellen, now saying that she supports the elimination of the debt ceiling treasury secretary, janet l, yellen, said on thursday. That the statutory debt limit should be abolished, arguing that the borrowing cap is destructive and poses unnecessary risks to the economy and with that being said, could that be a green light to absolutely print trillions more which, as weve seen over the past almost two years has Very much so benefited crypto and as well with bitcoin, seeing an absolutely gargantuan move to the upside.
Yesterday we talked about the range between 40 and 45, 000 being absolutely uh, boring and meaningless, and we said yesterday you know if we actually do break 45 000. That is when things can actually start to matter in terms of price, because we were trading with within 40 to 45 000 for like 11 days, and as long as we were below 45 000 uh price action was insanely, boring and meaningless, and within literal minutes i Believe it was like three or four minutes of breaching 45 000. We immediately shot up past 47 000, so that was a clear level that was seen as pretty big resistance, but well get into that in a second here but uh one of the major catalysts of this, so markets have been trading sideways for weeks uh and some Of the lack of regulatory clarity and statements from u.s authorities were partially because of this right. Theres. A lot of uncertainty theres a lot of uh gray area, which there still is, but at least now were kind of slowly trudging along here, and so that combined with a stock market. Looking not very good, which were going to be looking at in a second as well, and that combined with october being a a historically better month as september, is one of the worst months for crypto and also stocks uh. But the last three months of of the year are historically very good for for crypto, and today is the very first day of that fourth quarter and as well yesterday, a lot of people took this in a positive way.
Powell saying that he had no intention of banning crypto, but he did add that stable coins might be appropriate for regulation. Again, a lot of people were kind of expecting that the us was not going to have an outright ban. But this is just further confirmation and again if we know anything about the government theyre going to try and milk this and make as much money and take as much of it from you as possible via taxing even this horrible new proposal of taxing unrealized gains. If you dont know what that means its basically the silliest thing ever, you would be taxed on profits that you havent even taken. Okay, it doesnt make any sense. Okay, say i buy a house for five hundred thousand dollars and it appreciates to seven hundred thousand dollars. I would then be liable for that two hundred thousand dollar gain, even though i havent sold the property and comparing that to crypto it would absolutely uh the markets in the us again. So thats one thing were gon na be watching, but before we jump into the price as well, coinbase did get hacked and it disclosed this recently only again. 6 000 is not a lot, but it is a. I mean, a fair amount of people. It is a lot of people that most likely did get their cheeks absolutely ripped open by this. But again, coinbase actually said that it will be depositing funds in your account equal to the value of the currency improperly removed.
So youre basically going to be reimbursed from this. If you havent already but yeah, i believe its a its a mix of like sms, using your your cell phone as a two factor, authentication, which i highly recommend you do not do, because sim swapping is fairly easy for scammers to do. While on the topic uh. Never respond to scammers, i have hundreds of fake twitter and instagram impersonators of me, uh in fact, theres a fake instagram profile of me with like 10 times the followers that i have, even though those followers are not real. Okay, they just buy followers which is fairly easy to do like bots bot accounts, and you see that big number of like 40 50 000 followers on instagram and you think its real its. Not so be careful of that. I will never message you its not because i hate you its just that i have been exhausted, responding to comments and reading all of that for about eight months now so uh yeah. I have absolutely no patience. I am not going to be sending out any emails. Any any messages on instagram twitter anything there is a 99.9 theres a 100 chance that its not me if you get a message from me and so with that being said, uh this potential falling wedge that weve been watching for a long time as it teetered right On the bottom of this pattern, here did break out to the upside and as well for the for the most part, the very top of this descending triangle here, which is typically a bearish pattern, its only about about half a month or about two weeks long.
This clear level of descending resistance here was broken, after which, with only with only a few six hour, candles uh it actually blasted to the upside. Now here is a big test, so the 45 to 47 000 range is absolutely huge and its very good that weve gotten back here, weve breached two previous lower highs here as well, and now bitcoin is attempting to break this uh very big, 48, 000 and well Round up to about 48 48.8, but like 49 000 level for bitcoin and obviously the 50 000 level is absolutely huge, which we reached back on september 7th and we have not gotten anywhere close to since then so. Its been nearly a month since we have been above 50, 000 and 50 000 again remember it took so long to get above that back in uh the middle of august as well, so were not out of the woods yet. But this is a very good first step and as well, if we go to this chart, you can see just a big resistance right around about 48 000 us dollars. So 45 was huge and uh pretty much. The whole range in between 48 and 50 is not going to be super easy. You can see on this chart. We literally bounced all the way up to exactly forty. Eight thousand four: eight: zero: zero. Zero point: zero zero. So obviously there were a lot of theres a lot of orders, a lot of resistance there and its to be expected, but as well again, another bounce, the 21 confluent with the 50 week moving average and as well a gigantic fettuccine, retracement level, uh, just very important.
That we bounce here, but again, we are just – were still slowly trudging along, but this is looking more bullish, considering that the 40 000 level has, for the most part, been defended, even though he dipped a little bit below it very briefly earlier uh in the month Or about a few weeks ago, overall, big and the 48 to 50 000 range is going to be another big test realistically, if we can breach these previous highs here, these previous highs of about 53 000, then its, i think, were on a very bullish. Continuation of this reversal ever since the middle of july uh so were not there quite yet, in fact, we would still need about a 10 uh to 15 pump to really validate that from where we are at this. Very second, but overall, progress is progress, and i personally think that if we can get some of these regulatory concerns and some of the fears in the environment, the macro global environment, out of the way, then i think bitcoin will have no problem exploding to the upside And as ive been saying, i dont think theres anything bad going on with crypto at all anything bearish at all. I think the only reason at this point weve had uh pullbacks in the market is because of fears globally. That really are not really too much related to crypto other than the additional fears of regulation. However, the fears of regulation will most likely be worse than the actual regulation itself and as well, its just so important to watch this.
The spx is now below again the 100 day moving average, which uh pretty much ever since the recovery we saw back in march of 2020. Okay, remember that massive crash across all markets for the most part, the 100 day has seen almost immediate bouncing from it. And now this is a big test, because if the stock market really does collapse, usually we would expect bitcoin would not do well. However, i would say one of the most bullish possibilities that everybody would get ecstatic about is if the stock market did start dumping and bitcoin decided to decouple from that and started to just absolutely moon. Okay. That, ultimately, is what the goal is here. Okay, we dont want bitcoin to be really coupled with these legacy markets or these traditional markets anyway, but uh. This could be a very big, very big moment, uh over these next three months, but well know uh much sooner than that. If we are going to actually see decoupling from the stock market whats, your news youtube be sure to like subscribe turn this into absolutely time sensitive alerts as well. If youre interested any bonuses, anything like that make sure to check out the links pinned in the description.