Crypto Ethics Issue Resolved Now Time For Lift Off? Clarity Act Vote Imminent

[00:00:21]Hey there crypto traders and investors.

[00:00:22]It's Rod here. Welcome back on the pursuit of wealth. We're going to get started with the live stream here momentarily. We'll give it another minute or so for people to jump on. It is Tuesday, July 21st. Hope you're doing well. We've been seeing some momentum back in the space finally and uh we've got a ton of bullish news. Price has been a little bit on the erratic side and people are starting to get hopeful again. Why we need to be a little bit cautious. Everybody in their dog is expecting the clarity a to pass. I do think it'll pass, but I don't think that there's I I don't think it's going to be smooth sailing. I think there's still going to be some turbulence. So, we'll be discussing whether or not it's time for liftoff. Is the bottom in? Are we going to the moon tomorrow? We'll discuss all of that. And I would love to hear everybody's thoughts as well. Let me know your thoughts and opinions in the live chat. And uh also let us know where you're tuning in from. I know we got people all over the world. So curious to hear where your neck of the woods is located. But we'll give it another 30 seconds or so for people to jump on.

[00:01:23]We'll get started here in just a moment.

[00:01:29]All right, I see we have a dozen people or so rolling in. Welcome, welcome. We're going to get started here in just a few m in a few seconds, sorry. And uh a little bit of a last minute live stream here once again today. Uh but we'll get started here in about 10 seconds.

[00:01:55]All right, welcome back on the pursuit of wealth everybody. It's Rod here. We're going to get started with the live stream. We're going to be discussing is it time for liftoff? We have ethics issues finally resolved or so they say and uh clarity act could come soon.

[00:02:23]We're we're thinking more than likely next week. I said for many like I think it was on the crypto rapidfire news that I didn't think it was going to be early this week. Somebody else I think it was a member of the blockchain association said that it could be early this week and I was like no way in hell. They still have the ethics issue to resolve.

[00:02:41]That seems to be behind us. Uh could it come maybe in the ne like toward the end of the week? Maybe. But I doubt it. I think it's going to be sometime next week where we get a vote. So we'll discuss all of that and more. We got a banger here for you today. Tons of great news. What's up, Bal?

[00:02:55]We got Temple, Texas in the house.

[00:02:57]Awesome.

[00:02:58]I'm from Edmonton, Alberta. Where's everybody else tuning in from? All right. As always, not financial advice.

[00:03:06]This is for entertainment purposes only.

[00:03:07]Make sure to smash the like, subscribe, tick the bell, all that good stuff.

[00:03:10]You'll be notified on any future videos, live streams, etc. And you can follow us over on Rumble as well. Tons of platforms are banning people left, right, and center for no reason. I've been a victim of it. I've been banned from multiple other platforms and I just said the hell with it. I'm going to be using this one and Rumble. So, best to follow us over there as well just in case we ever get silenced here and to maintain multiple forms of communication. I post all my content over there as well. So, the Clarity Act has been bouncing. We were down at like 31. It was looking pretty dire there for a while, but as we know, this is what they did with the Genius Act. They plummeted the odds and they said it wasn't going to pass. Mainstream media, it was activated. Oh, it's never going to pass. It's not going to pass. And then they ended up passing it. And I think a similar situation is coming here now. And sure enough, we were right at 31%. And it was I think Paul Baron who interviewed one of the members from the blockchain association as well who said that if they don't get it done before August recess, there's like a 0% chance that this passes uh before the midterm elections. So it it's crunch time over the course of it has to happen by the end of the first week of August before recess. So if it doesn't happen, that's going to be very bad. But I do think they're going to pass it. And there's a national security issue at play here now with many other countries moving because the US government is like a turtle with no legs. I always say it. They're they are beyond slow. It's ridiculous.

[00:04:30]They're a disgrace to the human race as far as I'm concerned. All of them. Not one party. All the parties. They're all terrible human beings as far as I'm concerned. H it's just absolutely frustrating. You look at what they're doing with the MJ industry. And anyway, I digress. But maybe they can finally do their job. And uh you what was there like 65 million Americans who hold crypto and they're still dragging their feet and worried about ethics and whatnot. It's like okay well they weren't worried about ethics with Nancy Pelosi making half a billion dollars on a few hundred,000 a year salary, right?

[00:05:04]No, no, no, no one cared about that. But they care about crypto. Now great.

[00:05:07]There's a bigger ethics issue here. But apparently has been resolved. We'll give you the details on that. I mentioned in my pal group private community in the slack private trading room that I did not think that the bottom was in just yet. I don't think it's time to celebrate. Everybody in their dog is getting bullish again. That has me bearish, right? Because when the herd, when all the retail investors, when the mainstream media and everybody's pumping it, that's when you start to get a little cautious. I don't think we're going to, you know, absolutely, you know, crater from here. But I do think that Bitcoin could dip below 50,000, maybe somewhere around 48K, maybe as low as 40. I don't see it going much lower than that. And it would more than likely be some sort of mini black swan that would take us there. I I don't see any massive black swan coming yet.

[00:05:48]There's still tensions in the Middle East. The World Cup is over now. So, who knows? Maybe they there's some sort of black swan, mini black swan that comes.

[00:05:57]But we were told that the Middle East, the tensions are rising. There was a couple of um US troops that uh that were were killed. So, you know, heart goes out to those and anybody who was affected by this war. Uh but that there's going to be some retaliations and uh there's been some pretty somber and uh sketchy stuff going on with regards to, you know, them threatening the the new administration's family. So things could get uh could get worse before they get better. But ultimately, I do think that there's a little bit more turbulence ahead. I don't think it's time to uh to really say that, you know, the bottom is in and we're going to the moon tomorrow. So, I'll take a look at the chart and I'll show you my reasonings. But, as you can see, Bitcoin, I mentioned 67,500 is going to be key resistance on Bitcoin. I'll tell you why in just a second. But look where we topped out right today. Uh, just under 67,000 and then we pulled back to about just over 66. So, we're still bouncing around and we could confirm an hourly downtrend here. We have an hourly bare flag on Bitcoin as well. But again, we'll bring up Bitcoin XRP and we'll look through those. But, if you're wondering where you can buy the dip, take advantage of this volatility. I recommend BTCC. I use it all the time or I wouldn't promote it. I absolutely love it. Our whole community is over there having a blast. And like I said, it's the sponsor of today's video. It's an exchange. They have over 350 plus cryptos. They have tokenized stocks on there, so you can trade SpaceX, Tesla, Robin Hood, you name it. They even have tokenized gold and other commodities.

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[00:07:48]So, check this out. Look at all these the the good news is just absolutely pouring in today. So, Bitcoin rallies after Bessant says Clarity Act is at the one-yard line. And multiple senators, even there was even a Democrat who said, "I'm tired of being I forget his name right now. It's uh escaping me."

[00:08:05]Something Warner, I think. Uh he said, "I'm tired of being in crypto hell and wants to get it done." So, that's coming from a Democrat. That's huge. We know all 52 Republicans are set to vote in favor of the Clarity Act, but we need 60 votes for closure. So, you're going to need some Dems on board. So we and and a lot of it looks to be resolved with these ethics issues which we'll discuss here in just a second. But some more good news. Patrick Wit uh was called out to mandatory training as part of a service in the Georgia Army National Guard, but it has been uh called off. So let me just see here. It was deferred.

[00:08:41]Yeah. So it was deferred. And he says, "Thanks to President of the United States and David Sax for the opportunity to continue this important work and everyone who reached out last week.

[00:08:50]Let's finish the job. So, he's here to try to get it across the finish line.

[00:08:53]We've got an update here from about 4 hours ago, 5 hours ago. Clarity Act update. White House talks went well, says Lumis office. And then Trump accepts sweeping crypto ethics rule to rescue the Clarity Act. And I I said this many many times as well. Don't you watch in the 11th hour he'll come in and he'll just kibash everything and he'll just agree to it. And sure enough, that's pretty much what's happening. So essentially no, you know, president, vice president, anybody in office, any elected official in Congress will be able to profit from crypto, make money from crypto, and that includes your uh immediate family as well. So the text hasn't officially dropped yet, we should get it soon in the coming days. And then now that this ethics issue is resolved, folks, this is the last thing in my opinion. And uh you know, they give them a little bit of a win. Give give the Dems a win and the Republicans get a win so everybody wins, right? uh but this was the last thing holding it up and it looks like that has been resolved and then this just makes it even more uh imperative that we pass this. So this this becomes a national security issue.

[00:09:55]Russia officially passes landmark cryptocurrency bill today legalizing crypto for foreign trade. [laughter] So they legalize crypto for anybody but Russians. It's hilarious. You can't make this stuff up. But then the bill still has to go to Putin's desk. So just has to sign it into law essentially. But it looks all but confirmed. And folks, it's not just Russia. Japan passes law to regulate crypto as financial assets.

[00:10:19]Japan is huge on XRP and crypto in general. And uh this is this is massive, folks. If we're and China has already been, you know, making making waves as well. And we know every the new administration every second word out of their mouth is, you know, if we don't do it, the China's going to do it or the Asians are going to do like the Asian markets are going to do it. So and this is very very true. So, you know, it's looking like this is the case. So, we need to get it done. The new administration knows well keeps saying we're going to pay down the national debt with crypto. Think about that for a second. 39 trillion 39.5 trillion the national debt is at almost 40 trillion with a T. How high how high do you think these crypto prices, the price of Bitcoin, the price of XRP, Salana, Ethereum, how high do you think these financial assets and digital assets need to go for them to pay off the national debt? Well, there's probably going to have to be hundreds of trillions flying into this industry, right? Flowing in.

[00:11:13]And that's only going to be when the floodgates open up after the Clarity Act gets passed. And then once the US legalizes and provides legislation and clear rules of the road and regulation, then guess what? There's a ton of other countries as well that are going to watch for the US's lead because they don't want to get left behind either.

[00:11:29]There's tons that are moving ahead of them, but also a lot that don't want to be left behind, and they'll use the US as a as a gauge to when to to to act and then use sort of some of their framework as well as their own. So, this is huge.

[00:11:41]But just imagine if they're going to pay off 39 almost 40 trillion in debt, how high would these assets have to go, right? It's it's it's unfathomable really. So, I I believe that this industry is going to be 50 trillion to 100 trillion easily. The DTCC, which we have an update here in just a second, settles over quadrillions. That's over a thousand trillion annually, folks. So, it's possible. There's enough money in the planet, the real estate industry, the real estate market, stocks, bond, treasuries, tokenizing all of it. The London Stock Exchange, I didn't bring it up here as well, but that's a huge uh piece of news as well. They're looking to go 24/7 365 trading starting early 2027. Folks, the whole world is moving.

[00:12:22]And who do you know that's heavily licensed in the UK? Uh that would be Ripple, Coinbase, and XRP. Also, South Korea moves to treat crypto as national wealth under new law. So folks, it's not just Japan, Russia, the US, it's the whole the UK is moving big time as well.

[00:12:41]You got the uh the Mika license under the EU uh framework as well. So you got the EU already legislated and that that's their essentially clarity act version, right? So everybody [clears throat] in their dog is moving here, folks. They're not going to sit around and wait. And this only increases the odds that they're going to get this across the finish line. They basically have to at this point. And Nigeria establishes virtual asset council to regulate crypto market. So again, folks, it's everywhere. It's absolutely everywhere. That's why I know this industry was created by governments.

[00:13:09]They they couldn't tell you because then no one would invest in it, right? No one trusts the government. So, it had to be some type of libertarian movement, but it was for sure created uh in my opinion by the US and more than likely the UK government and maybe one or two others.

[00:13:24]But this is huge, folks. So, DTCC went live last week on the 15th of July. Soft launch. The real launch is going to be October. We have an FOMC meeting in October. There's another one in September. I don't think it it's possible that they cut rates in September. I don't think so. My money's going to be on October and then the next one would be in December. I do think they'll cut toward the end of the year.

[00:13:43]That'll absolutely send this market flying. And then the DTCC goes fully live in October as well, folks. They've been given a no action letter from the SECC. The SEC, they don't need legislation to continue. London Stock Exchange is going to be going 24/7 365.

[00:13:58]So, the rest of the world isn't going to wait for the US, right? So, this is why it's best to position yourselves now. I don't think the bottom's in just yet, but it's very, very close. I'd say we're like 90 to 95% of the way there. And listen to this from the DTCC. We actually had more demand than supply after moving tokenized securities into live trading on the 15th of July. The DTCC's and Shakar says institutions were lining up to participate folks. This was just a soft launch. And look at the move Ono had recently. They're tokenizing stocks and whatnot following the M. And we know XLM has partnered with the DC DTCC to start tokenization in the first half of 2027 as well. Well, that remind you of somebody the London Stock Exchange doing 24/7. Folks, it's coming and the wave is going to be a tsunami.

[00:14:46]Floodgates, tsunami of floodgates are opening up. Following the milestone, production trades using DTC tokenized assets. On July 15th, DTCC and Shakar appeared on Bloomberg TV to discuss interoperability.

[00:14:59]What does that word remind you of? And the trusted infrastructure needed to support digital assets at scale. Look, it's a multi-blockchain environment where DTCC is really acting as the institutional orchestrator. And folks, we we were told that in order to use assets on on the DTCC as collateral, the assets has to be over $5. If it's not, you can't use it as collateral. If it is, then it's a 35% haircut rule. What does that mean? It came up in the XRP community. So, institutions won't be able to use XRP as collateral unless it's $5 or higher. And then there's a 35% haircut uh rule that's applied. Just Google it or use Grock or go to some sort of AIG GBT and Google what I just said if you don't understand and ask it to break it down in layman's terms. But essentially what that means is it's going to be even more incentivization for these institutions to get XRP over $5 because they'll they won't be able to use it as collateral. So, I do believe that $5 to $8 by Q3, Q4, certainly between now and the end of the year is very doable for XRP. But this is huge, folks. They they settle over quadrillion two I think it's over two quadrillion.

[00:16:07]That's 2,000 trillion.

[00:16:10]And and we're at like a couple trillion market cap in the in the crypto space, right, Raul Pal? We're going to 50.

[00:16:15]We're going to 100 plus trillion, folks.

[00:16:18]That's another 100x from here. Bitcoin ain't going to 100x. No way ain't hell.

[00:16:22]most it'll do is 10x, but I don't even think that's going to happen anytime soon. But these some of the and bitcoin doesn't have utility. There was a sharp link uh interview today with uh thinking crypto and they that's how you do a treasury company. They're not taking on debt to buy Ethereum. They're that's not what they're doing. But he said, "I commend, you know, Sailor and Micro Strategy for kind of getting the ball rolling with treasury companies, but you know, they they're they're taking out a lot of leverage debt and these convertible notes because Bitcoin doesn't have any any productive value.

[00:16:52]That just means it has no utility, folks. So they're the only way they can buy more Bitcoin is through leverage.

[00:16:59]There's no utility. There's no yield or anything like that, right? And it doesn't do anything. So there's no business there. There's no utility there. There's no value driving. It's only number go up. Micro strategy only succeeded succeeds if Bitcoin price goes up. But the thing is is that's not what that's not what is going to drive long-term value. Utility is going to drive long-term value. And that's the market force that we're heading into here is utility. What's going to happen when you tokenize real estate, stocks, bonds, anything of value, treasuries, right? The DTCC alone over two quadrillion.

[00:17:34]Folks, this this market's going to go to unreachable levels that you would have never imagined possible. You're going to think that this is a simulation. You're going to think you're you're going to think you're not even awake. You don't think you're going to think it's not even real based on the amount of wealth transfer that's coming. You have no idea. You have absolutely no idea. So, we'll take a look at the chart and then we'll jump into the chat here in just a moment. But, we'll take a look at uh some of the reasons why I don't think the bottom is in just yet and why we have to be cautious. So the first and uh first and foremost here is the Bitcoin monthly EMA 12 and 26 bare cross. So look what happened the last time this happened price when the when the EMA 12 was above the EMA 26. In this case the the 12 is the yellow and the 26 is the white. So let's let's just go back to the last bull cross. Actually it was back here. Tons of upside. We avoided a down uh bare cross here but then we got it in 2022.

[00:18:29]So after the bare cross occurred, it was okay. Well, let's just do this. So the price was at roughly 24,000 when it occurred and then it dropped another 36% all the way down to about 15,000. But that was in the FTX collapse. I don't think we're going to see as much downside now, but here we are. We'll just, you know, kind of use an example and it'll just be a rough idea here. So, and it wasn't it was yeah, it was right there around 22,000 actually. So 22,000.

[00:18:56]So we'll save about 30% of downside. So, we're crossing now. So, let's just say we saw another 30% of downside, folks.

[00:19:03]That's 46K. That's not too far from here. That's only 20,000. And we were just at 57.

[00:19:11]So, I mentioned that if we lose 58 with followthrough, which we didn't. We got to 577, then we could easily be down to 53K. And then after 53, and we also have support there at 49. So, yeah, 53K, which was the bare flag target on the weekly. And then we have price action support at 49.

[00:19:30]Also, if you look at some of the onchain metrics as well, it's all signaling a bottom. Bitcoin, the amount of coins in a loss right now are over half the supply. You've got um what else is there? I was just thinking of something else here in terms of a bottoming signal. Um the Bitcoin supply uh there was it'll come to me in here in a second, but 49 Oh yeah, it was the cost of production of mining. So the cost of production right now to mine a Bitcoin is around 48K and it has never really dipped below that either. And we're also right on the 300 day moving average as well. So this is very reminiscent of all bottoms. But again, I don't love the fact that we're seeing an EMA 12 and 26 bare cross right now. And we haven't even started the monthly bounce. So 74,000 is the high of last month. We're not even close to that yet. And we're seeing these EMAs cross bearish. So, uh, again, a 30% drop from here would be around 46K. What did I say at the beginning? I think somewhere around 50 to 48K is some is a pretty, uh, reasonable area to target as a bottom. Maybe as low as 40K. Peter Brandt came out today and said he believes that Bitcoin will bottom around 40K sometime around September, October, I think he said. And then he thinks Bitcoin is going to go in a multi-year bull market. I don't believe that at all. I think we're very close to the end. I think the market probably only has another three to It all depends when they pass clarity, but I think they're going to pass it over before August recess. If they don't, like I said, there's like close to a 0% chance before the midterms and then is it going to happen in a lame duck session? What if Senator Warren Warren gets uh gets the lead for the Senate Banking Committee?

[00:21:06]That wouldn't be good, right? So, there's going to be they're going to move mountains to get this done before the midterms in my opinion. And then you're going to see the biggest alt season that you've ever seen. And something that I want to bring up here as well is the Bitcoin dominance chart.

[00:21:19]So the Bitcoin dominance chart is just Bitcoin um the strength of Bitcoin compared to everything else. Right? So there's a head and shoulders here on the monthly. We have an EMA 12 and 26 bear cross lining up similar to Bitcoin on the monthly chart uh of Bitcoin to US dollar denomination. And then we have the potential here for a monthly downtrend. So key support is going to be 57% on BTC.D the dominance chart. If we lose 57% dominance, watch for alts to absolutely go bananas. And like I said, I think this is going to be the biggest alt season that you've ever seen. And I do believe that it's going to happen over the course of Q3, Q4. Could it spill into first quarter or so of 2027?

[00:22:00]Maybe. I don't think so, though. I think it's going to uh it's going to happen over the coming months. And typically, alt seasons usually range from about 30 to 90 days in length. And uh yeah, I think it was even uh a Van EC analyst who was saying that uh get your positions ready by October.

[00:22:20][laughter] So again, what do we know about October? The DTCC full launch, potential rate cuts from the new Fed. We we've been seeing economic data and inflation data re really start to fall off a cliff lately. So increasing the odds that we could see a rate cut into the end of the year. I've been saying for a while now there's no way in hell they were going to cut when he first came into office cuz he was getting grilled left, right, and center from Congress on, oh, you're not going to just be a puppet for Trump and come in and cut rates, are you? And he's like, no, I promise, Mr. and Mrs. Like, you know, it of course he wasn't going to come in and cut rates. That and plus, what kind of signal would that have sent to the mark or uh Yeah. Well, I mean, it would have been probably good for the market, but what kind of signal would that have sent to to to all the regulators and Congress? That wouldn't have been good, right? They would have hated them. And then there if he would have came in and hiked rates, well, holy [ __ ] that would have been Armageddon, right? It was enough uncertainty alone when a new Fed I said for a while uh before he got appointed. I said when a new Fed chair comes in, that's generally bad. It's usually bad for a few months after they get appointed. Think about that for a second. Why would that be bad? Because the market doesn't know what they're going to do, right? They don't know if they're going to be dovish or hawkish or they going to raise, they going to cut. What are they going to do?

[00:23:26]Pause. Right? So that's called uncertainty. The market hates uncertainty. You can tell an investor the price is going up or going down.

[00:23:32]They don't mind that. But when you tell them you don't know, they hate that, right? And that's what happened with the FOMC and the new Fed chair. So I said that that was going to cause issues and it did. And then now he's appeasing everybody. No, I'm not Trump's puppet and I'm hiring all these experts and, you know, collecting all this data and they're they're going to massage the data however they want it to to do whatever they want to do, right? To justify whatever they want to do. And we've already been seeing that inflation has been coming down and they're starting they got market and reason in there as well from A16Z, right? So watch it. They're going to cut rates. They're going to pass the Clarity Act.

[00:24:09]Everything DTCC is going to go live in October and you're going to see the biggest wealth transfer in history. So again, Bitcoin, if we come down and lose 57,000 53, then 49 is the next major support. But like I said, I it's possible that we could wick below and go as low as 40,000. I don't think we're going to go much lower than that, though. Like I said, 90 to 95% uh of the way there in terms of scouting this bottom. Now, another reason why I don't think that the bottom is in just yet, we're in a strong weekly downtrend right here. And we have key weekly resistance at 67,253.

[00:24:45]We also have EMA 12 at 66290.

[00:24:48]So 67, we'll say 67,500 is going to be key to get above and that's also where we have the Fibonacci resistance. So you can see here this was a bare flag. It confirmed, but we didn't get much follow through.

[00:25:05]So the bare flag was saying we could see Oops, I messed that up. Let me redo that. Oh, I guess I didn't. So right there. So this is saying we could go to 47.

[00:25:16]This is the weekly barefly. So, if we don't if we don't get over realistically, I'd like Yeah, 67,500. If we don't close a weekly candle over 67,500, this is just another bull trap in my opinion and relief rally before we see the real move. And like I said, if we don't get over that, then this is a weekly bare flag. We're already in a weekly downtrend. And then we have this falling wedge as well. If we just extend this out a little bit, look at that.

[00:25:41]this thing could go before we get pretty much to the apex somewhere around October, November into the midterms. And that's lining up as well. If we if we reject here at resistance somewhere around, you know, we could go up to 7 even 71K, we could just get knocked down from this bigger uh pattern that's that's acting as resistance. It's been acting as resistance since we started this this downtrend. So, if we were to come up here, like I said, it it's [sighs and gasps] I I almost want to change my level now to uh to 72 cuz realistically, we could go all the way to 72 and then upper wick and then come back down and and just be a massive bull trap. But, um yeah, if we can if we can get a weekly candle close though over 67,05, that definitely be a great sign. But, uh ultimately, we're going to need to close out of this this falling wedge pattern because that's been strong resistance.

[00:26:33]Yeah, it's it's hard to say at this point, honestly. It's We'll take a look at XRP as well, but yeah, I might might change my mind here.

[00:26:43]I' I'd like to see us get a weekly candle close over that. And that's also EMA uh 26 as well.

[00:26:51]Okay, so let's just say this. If it gets over 67,500, that's going to put the odds at, I would say, maybe 50/50 that the bottom is in.

[00:26:59]And then if we get over this because nothing's ever 100%. If we get over this and 60 or sorry, let me just get the exact level here. So if we get over 72 8. So if we get over 73,000 like a weekly candle close over that, then I think it's like 80 to 90% chance that the bottom is in and that we're probably going to be heading up to maybe even 140 150 on Bitcoin. don't think we're going to a million dollars this cycle or you know $500,000 like everybody else is saying but yeah that's I just realized that as well on uh the falling wedge and we also have a 1 2 3 4 5 Elliot wave count here and the fifth wave has not yet been completed just yet in my opinion and like I said that could bring us down to around just under 50,000. So let me bring up XRP as well. So XRP I mentioned nice move here on the weekly but same thing weekly EMA2 we haven't even touched it yet and we're still in a weekly downtrend we have weekly resistance there at 129 and now this is a similar pattern where we have a falling wedge we could come all the way up to around 120 on XRP which is the weekly EMA 12 and the resistance line from the falling wedge and then potentially come back down to around 97 cents. I think somewhere around 99 to 90 cents is going to be a solid area to target for a bottom on XRP. The there is a weekly bare flag saying we could see about 70 cents. You know, if Bitcoin were to fall, I I would say basically like look at it like this.

[00:28:26]Bitcoin fell to 40K, I would say XRP is probably at 70 cents or in the 70s. If Bitcoin falls to 53, XRP is probably going to be at around 99 cents. Right?

[00:28:36]So again, if if XRP is breaking above 120, well then we got to look at what Bitcoin is doing. And if Bitcoin's stalling out below 67,500, that's going to be a red flag. This is probably not going to see its follow through. Okay, so this is what I'm going to be looking for. If we can get a weekly candle close over that, so it's around 120, but I'd like to see like 121, 122 to be confident, then I think we're off to the races. But like I said, we have a lot of work to do. We're still in a weekly downtrend. We're still below all of our weekly moving averages.

[00:29:09]We are seeing a little bit of bullish RSI divergence on the XRP weekly chart.

[00:29:13]Same thing with Bitcoin and Bitcoin. We had a POW algo alert go off on Bitcoin here today as well. We had a we the price got above the 10-week moving average and we had a stocastic and a MACD bull cross. So, this is a great sign, but keep in mind it's the weekly time frame. So, it can take a few weeks for it to materialize and for for momentum to start shifting back to the upside. So, we had an example here where it fired off. We had the same alert fire fire off on the Powalgo alerts around 70,000 and we ran all the way up to 82K.

[00:29:48]So, the [clears throat] same thing's happening now. And to be honest, this is the third time. So, look from when we lost it as support, the 10-week moving average, then flipped it into resistance. Look at this one. We tried it here on the first weekly MACD bull cross two. This is the third one. And if you know anything about charting and technical analysis, usually on the third attempt, that's the straw that breaks the candles back, right? That's usually when you finally break out to the upside. Or if it's three attempts to the downside, testing key support three times, usually on that third attempt is where you break the support, right? So, like I said, this is very good indication that over the coming months, we're going to see massive upside on Bitcoin and the rest of the crypto space. We also just had a bare cross of the 50 and the 100 weekly.

[00:30:36]Uh, but we're back above the 200 weekly moving average. Now, that's a good sign.

[00:30:39]And we already got that bare cross out of the way. I really don't think we're going to see a 50 and a 200 weekly moving average bull cross anytime soon.

[00:30:45]They're still extremely far away. And, uh, if that were to occur, we'd probably be down at like $20,000. So, I don't think that's the most likely scenario at all. So, I think we're uh we can call ourselves safe on that one. And then on the daily time frame, look at this. Same thing. We're curling for a golden cross, failed. Curling for a golden cross on the second attempt failed. Here's the third one's potentially forming. And uh you can still see they're very far away.

[00:31:08]The 50 and the 200 day moving average.

[00:31:10]When those cross on the daily, that's called the golden cross. Death cross is when the 50s above the 200. Look, price was at 107 108K when that death cross occurred. and then we dropped all the way down to 57. So now we're looking for the golden cross. But again, based on how far away they are, it's looking like it could be two or three weeks before we get that golden cross minimum. Could even be longer than that. So like I said, sometime over the next two to 3 weeks, I think we're going to bottom out and then start a new bull trend. Again, anything can change, but this is just what the the charts are saying. Everything that I'm seeing from a fundamental standpoint, like all those things we just ran through, right? These are all pointing to they're going to get done.

[00:31:52]And let's just take a look at the calendar here. So if we know that it has to happen by August 7th, two two to three weeks, folks. One week is the 28th, 2 weeks is the 4th, 2 and a half is August 7th.

[00:32:09]So that's right in line with what I'm thinking here. 2 to 3 weeks until we get a golden cross. That's right at the deadline of this vote of this clarity act and whether or not it gets passed or not. Now, keep in mind the Senate might pass it next week, but then it has to go back to the House and there's been quite a bit of revisions since then. So, they passed the Fit 21, which is similar, but there's been a bunch of amendments and additions and provisions like the ethics act, ethics portion, etc., and all that.

[00:32:37]I think there was a couple other things as well. Uh, so it has changed quite a bit. So, it's going to have to go back to the House and then it has to go off to the president's desk, but maybe as long as they pass it in the Senate, maybe um they handle that later. I'm I'm not an expert with this with Well, no one could be an expert when it comes to corrupt um US politics, but um yeah, we we'll have to wait and see, but we have to allow some time for the House and the and to go to the president's desk. But I think could we get a vote next week? I don't think it's going to happen this week. We still haven't got the text drop yet. And then maybe toward the mid next week, toward the end of next week, and then that gives us a whole week to send it off to the House and then to the president's desk for signage. But who knows? Maybe they just pass it in the Senate and then they sign it into law like just before the midterms after the August recess. That could happen as well. But the big thing is they get the Senate floor vote and get this passed and get that 60 votes for closure and then go to the House, then to the president and into law. All right, that was a mouthful. I'm going to have some water. And uh we got over 30 people in the live stream at the moment. So, thanks for sticking with us through that 30 minute spiel.

[00:33:51]Charlotte Town, PEI, Rob, my family. [laughter] I lived in Charlotte Town PEI for like 10 years. [laughter] How you doing, brother?

[00:34:08]Hey Rob, you got uh great work. Thank you very much. I appreciate it. Rod the man. Thanks Jim. Glad you made it in.

[00:34:15]All right. Does Does anybody have any questions? Any any uh requests? We can I got about maybe 10 to 15 minutes if anybody wants me to take a look at any charts or anything like that. Uh any questions regarding any of this? Any thoughts, opinions? What do you What do you guys think and gals? You think they're going to think they're going to pass it?

[00:34:35]I think they're going to get it done.

[00:34:36]Let's do a quick refresh here on clarity. Down to 46 again. Rob says, "Doing good." That's awesome.

[00:34:44]And I see you've been a member on YouTube for over 12 months. So, that's awesome. You're in the uh the year club.

[00:34:55]All right, let's just take a look at the crypto space here as well. Yeah, so we're selloff's accelerating here now, folks. Like I said, 67,000 was key on Bitcoin. And now we have an hourly bare flag. And uh if we lose $66,39, that confirms hourly downtrend and bare flag. And we're probably heading down back down into the low 65s.

[00:35:16]But yeah, Litecoin taking a crap on itself here, giving pretty much all of it back. XRP back down to 113.

[00:35:25]We'll bring up the Bitcoin chart. I'll show you this hourly bare flag, and we'll take a look.

[00:35:30]Yeah, that looks damn near damn near perfect if I do say. Okay, so it got to the 0.5, but ignore those upper wicks.

[00:35:37]That was a perfect pretty much textbook.

[00:35:41]So yeah, 655.

[00:35:44]If we come down and lose 6639, like I said, then uh we could see 655 and there's a huge EMA 12 and 26 bare lining up here on the hourly chart as well. [snorts] Could be heading to hourly oversold. Like I said, I just the whole all of crypto Twitter X uh pretty much every like social media platform I've seen and anything that I've come across lately in the comments, it's uh everybody's bullish again. So, you know, this is how it works. They they dropped the percentage of this passing down to like 31 and then everybody said it wasn't going to pass.

[00:36:21]Then all of a sudden, out of nowhere, Russia, Japan, South Korea, you got um Nigeria, the EU, and the UK and all this news about, you know, them creating their own version of crypto legislation and the London Stock Exchange. And then in the 11th hour, of course, Trump comes in and says, "Yeah, I agree to all those ethics. No worries." [laughter] So that's how quickly things can change and it's against your favor. Right? And uh again, now that everybody's bullish again, I'm cautious short-term, but bullish medium-term. And let's just take a look at the fear and greed crypto.

[00:37:02]Where we at? We're at 25. So again, what happens when the fear starts to get out of extreme fear? They get everybody bullish again and then they knock it back down. But this is a good sign.

[00:37:11]We're no longer I think we got down to like 11 not too long ago.

[00:37:17]But yeah, now that it's starting to rise out of extreme fear, everybody's starting to get bullish again, probably going to see another mini rug pull and then I think it's go time. But like I said, I I don't love the tensions in the Middle East right now.

[00:37:33]So that could be something that spooks the market.

[00:37:37]Litecoin really going now.

[00:37:41]Michael, if you can, can you do flare and h bar please? Sure, no problem. So, yeah, I I posted a video a long time ago on Hideera and uh I was hoping I was wrong, [laughter] but I said this was a Whoa, that was a year ago. Holy [ __ ] Crazy how time flies. I posted this on December 27th, 2024.

[00:38:09]Is this the right one? No, no, no.

[00:38:14]Hang on a second. It's not the one I'm thinking of. So, oops. [snorts] So, yeah, Hideera had that network hack as well. I said, "Time to worry." No, it was just a DeFi bridge exploit, which has been very common. Here it is. Here, four months ago. That's That's right.

[00:38:32]So, this one I posted on February 25th of this year, and I was talking about the bottom being in, and then I said, "No, I don't I don't believe so." And oh, it was a different video. It was this one. More downside ahead. Yeah, this this is the one that I So, it was over 4 months ago cuz I was referencing this video in that video from 4 months ago. So, it was like 6 months ago. And uh I warned when the price was at 10 cents, 10 12 cents that we could see, you can see that. I'll just blow it up so you can see it full screen. My target was 6.4 cents.

[00:39:09]And if we bring up H bar, so I was warning about that when the price was at like 10 and a half cents. And if we bring up H bar here on the weekly time frame, this is what I was warning about right here, the in the red. And it was right here. So I posted that video in like December, January. And then this is what I was talking about right here. So I was talking about this high, low, lower high, weak bounce. didn't get above the 382 fib. And then we confirm the weekly bare flag. And you just take your measured move there from the high to the low. You move it out to your 382. And look at this. We're right on it. You literally can't make this [ __ ] up. You couldn't script it any better. And here we are right on that key support 6.5 cents.

[00:39:55]So I I even kind of surprised myself with some of this with this stuff sometimes. And I actually took an H bar long and I'm in on a trade and I'm I was down like 50% or 60% last time I checked, but I did a 2x leverage. Don't recommend leverage if you're not used to it. You can do it on BTCC, but again, just start with regular 1x no leverage, but um yeah, I I got caught with my pants down a little bit on this trade, not going to lie, but I'm just holding it. I do believe H bar will be at 12 cents 10 uh 20 cents again in in like an absolute hurry once we finally start to bottom out here. But I I should have took my own advice a little bit more because I was buying it here around 7 1/2 cents 8 cents and I just you know I was like what are the chances we're actually going to go all the way to 6 1/2 cents. I was like you know we just were at 40 cents.

[00:40:40]So that now in terms of percentage draw down they've pulled this thing back almost 84%. So I I just didn't think that was the most likely scenario. So I started adding and I got in a little too soon here. I was kind of like I said I was kind of expecting it to undershoot like it did here. And that's actually where I think I I entered because we almost got to the target and I missed my entry. Was kind of sleeping on that one a little bit. I should have had a buy order set, but I Anyway, that's nobody's perfect. And uh yeah, so I started I entered here like back up closer I think it was like 7.6 cents or close to 8 cents and then here we are back down to 6 and a half. So I I should have listened to my own analysis a little bit more, but you know, you just think you're like, "Holy crap, we're at 40 cents, we're at 8. That's a steal." It's like, well, what's cheap? What's the definition of cheap? And it can always go lower, right? So, yeah, I uh in hindsight, I probably shouldn't have used as much margin or any leverage. But again, it's all about learning. And uh I'll definitely learn from that one for sure. But again, I didn't sell, so I didn't lose yet. And I, like I said, I do think that this thing will be easily back up to 15 to 20 cents in a hurry.

[00:41:47]And if it gets back up to 10 cents, I make thousands of dollars. So, [laughter] uh, it's not [clears throat] the end of the world. Just could have executed that trade much better.

[00:41:56]But yeah, now's the time to go long in my opinion. Again, not financial advice, of course, entertainmentformational purposes only, but I've been longing the hell out of this thing. I've been adding it all the time. I actually added the HBR ETF as well in my stock in my uh stock brokerage account because you can buy an ETF now. So yeah, it's looking very bottomy bottom and bottomy bottomy definitely not a word.

[00:42:23]Yeah, daily bounce underway.

[00:42:26]Still a lot of work to do. We had a daily bare flag as well that was back here and that was targeting the exact same target pretty much. Monthly time frame.

[00:42:38]Yeah, not that's a monthly bare flag, but if we were to actually see that, that would be like back down to 2 cents. I don't think that's the most likely scenario. We already got the EMA 12 and 26 bear cross out of the way on the monthly time frame. That's what I was warning Bitcoin at the beginning of the show was it's close. It's basically happening now. And once that happens, generally we see more more downside.

[00:43:01]Look what happened the last time, right?

[00:43:02]Dropped another 30% after the bear cross. So, if we dropped another 30%.

[00:43:07]That would put us around 46K like I mentioned earlier. And let's just see how long it took to bottom out after took two months to bottom out after the bear cross. So, we're be we're bear crossing now. Two months would take us into September, beginning part of October.

[00:43:31]So, man, I I I just can't imagine a world where they don't pass this. But it would not be good if they didn't. That's for sure. But you never know with these freaking US politicians.

[00:43:47]Don't care if you're left, right, green, yellow, blue, red. They're all scumbags.

[00:43:53]This absolute cancers.

[00:43:56]They all deserve to be fired with prejudice and removed, stripped of every dollar they own. They should all be thrown in bars for as far as I'm concerned. Never allowed to see the light of day again. Shouldn't even be allowed to go outside.

[00:44:08]Corrupt sobbs. And then uh yeah, never allowed back again.

[00:44:14]Should absolutely be ashamed of themselves.

[00:44:20]But yeah, I mean monthly time frame still in a monthly downtrend.

[00:44:25]It's going to be a while yet for H bar, I think.

[00:44:28]And again, news news could change it, but right now, even the weekly MACD and stochastic are pretty bearish. [snorts] That doesn't look good either. The 50's close to crossing the 200 weekly moving average. And when the shorter is above the longer term moving averages and they cross, that's not good. Look what happened when the 50 crossed the 200 last time. Absolute rocket ship to 40 cents. Now we're looking at a potential bare cross. But let's see news clarity could change that golden cross potentially. It's not as far away as Bitcoin, but maybe over the next week or two, we could potentially see a golden cross there.

[00:45:11]But just based on everything that I said earlier with that weekly bare flag target, I mean, we're down over 83% from the high in January of 2025.

[00:45:21]40 cents down to 6 cents.

[00:45:25]I I don't think you could go wrong longing it here.

[00:45:32]So, Flare Flare had a decent move today.

[00:45:36]Uh, this one as well was a weekly bare flag and I warned about this one.

[00:45:39]Remember, oh man, did I ever get a lot of hatred when I posted this video. So, my bold move.

[00:45:47]I posted this video over two years ago and it was titled my bold move. I sold 90% of my flare to buy more XRP. When I sold flare and I'll just go into the video and show you here.

[00:46:00]So when I sold flare, it was at 4.7. We're now at like little over half a penny. So when I sold flare, my 90% of my my flare over two years ago was at just under 5 cents, like 4.7 cents. and I bought XRP which was at 5859.

[00:46:20]Well, today XRP is about 100% higher and flare is I sold it at like 4 cents. It was like right here. Oh, it was this one here. It was back in February 2024.

[00:46:37]So, Flare dropped 87% and XRP is up over about 100%. So, I avoided a 90 or almost a 90% correction on my flare by selling 90% of it and putting it into XRP, which is now up 100%. So, I made off like a bandit on that one. But, this is another example of when I saw uh this bare flag here.

[00:47:00]And I'll just change the color so you know what I'm talking about. This red one here. So, this is when, you know, even I remember when I drew this back, this was back in November 2025. I remember when I drew this and then we broke out of this symmetrical triangle which was a huge red flag. And then I like to use the uh when it's like nice and big like that, I like to use sort of the uh the midpoint, but this was saying it could go to about half a penny. And here we are almost at half a penny. Then we had a weekly bare flag. And like I said, I drew this way back in like November 2025.

[00:47:40]And then you just take your measured move there from the high to the low.

[00:47:42]Whoops. And then you move it out to your 32. And then there you go. We've overshot that. So H bar undersshot it so far. But could it pull something similar like flare where it overshoots it? It's possible. It doesn't always have to happen, right? Doesn't always have to reach the target or undershoot or overshoot or hit it exactly. Right.

[00:47:59]Sometimes it's all different. But one thing to note here is we do have some bullish RSI divergence on the weekly time frame. Higher lows and higher highs on the RSI and lower highs and lower lows on the price action. That generally means we're probably going to head to weekly overbought and start a new uptrend soon. Right?

[00:48:16]So, we should start to see something like this soon.

[00:48:22]Keep in mind as the price cratered 87% I was getting all the flare drops every month. So, getting thousands of free flare every month just for the air drops and token distribution. Then I'm getting the delegation reward. So every few days I get, you know, like a few hundred flare for free because you're doing delegation. So I've got a boatload of flare and I was buying a ton actually. I actually uh with Ben in the pal private community, I think it was at the beginning of the year when the flare drops ended in January. We sold uh quite a bit of XRP to buy Flare back again. So and that was just at the beginning of of 2026. So, and then that ended up being a great idea as well because XRP absolutely cratered [laughter] over the last uh six months.

[00:49:07]So, XRP when we sold it at the beginning of the year, where was it? It was like right here. So, yeah, XRP was around 220 when we sold it. 250 at 220 230. So, that we sold that and then bought a It wasn't 90% of my XRP or anything. It was like maybe 5% or like 3% of my XRP and I bought more Flare again. So, my average right now on flare is really low. It's at like a penny.

[00:49:33]So, all this thing has to do is go up like from current levels, all this thing has to do is go up like 50% and I'm in the green. This thing goes to a dollar.

[00:49:42]I'll see you on some island in the Caribbean and it'll be called island rod.

[00:49:52]But yeah, just like H bar now, Flare is hitting this long-term target. If we go from the high there to the low, we're down almost 90%.

[00:50:03]If you're wondering when's a good time to go long, no better time than the present.

[00:50:11]Yeah, like I said, you couldn't script that any better. [laughter] What an absolute perfection of a move.

[00:50:25]Yeah, we're still a while before we see a bull cross there on the stochcastic.

[00:50:32]What else we got on the weekly time frame here? Yeah, well below all of our weekly moving averages, daily time frame. So, kind of similar to H bar, not as close as H bar, not as far away as Bitcoin. So, maybe two weeks could see a potential golden cross here on Flare. Like I said, we had a pretty decent day today if we go from and look look where we're bouncing off of, right?

[00:50:56]That long-term target of around 6.7.

[00:51:02]But yeah, from the low of the day yesterday to the high of the day today, it was up almost 12%. But again, it's again, when in doubt, zoom out. Like people see numbers go up on a screen, they see, you know, plus 8 plus 10%, they get excited. Well, just zoom out to the weekly or even the monthly.

[00:51:18]The monthly hasn't even started bouncing yet. We haven't even broke the high of last month yet, right? And that high is at 6 point Wait a second here. I'm looking at the wrong one. That's at 8.2 cents.

[00:51:29]Or sorry, not even that. It's at 82 cents. So 0 0.0082 is the high. So we from current levels, we'd have to go another 24% just to break the high of last month. So yeah, we're we're not turning any heads here at all yet.

[00:51:51]We still need to break the high of last month and we're still in a monthly downtrend. Then we need to form a uptrend by starting the monthly bounce, which we can we can only bounce once we break the high of the previous monthly candle. So we would have to bounce at least like 25% just to start the bounce.

[00:52:06]Then when we top out, we'll look for a higher low and then a higher high. We still need the bounce, which would be a break over here. Still need the high, then the higher low, then the higher high. How many candles do you think it's going to take to do that? Probably one, two, three for a higher low and then four maybe for a higher high. At least four or five. I I say minimum three, but most likely four or five candles. So that would take us, let's say we're going four and and my drawings were terrible, but uh four would take us into in November and then December. And again, if that's when I'm thinking all season's going to be, which I do think so as in October, you got the DTC potential rate cuts in October or September, maybe even December, but that's when I think the blowoff top is going to be is around the midterms.

[00:52:53]And like I said, usually about 30 to 90 days is the historical alt season.

[00:53:01]Just remove those chicken scratch.

[00:53:08]All right.

[00:53:10]Hopefully that helps. Let me know, Michael, if you need anything else that uh clear as mud.

[00:53:16][snorts and laughter] Yeah, Bitcoin's still holding, but we'll see what happens here over the the coming days. All right, going to start wrapping it up.

[00:53:34]Do one more refresh on here. We're at 46.

[00:53:38]Still at 46.

[00:53:42]Let's just go to the day. What was the high of the day? I think it was 49. It got to at one point July 21st.

[00:53:52]Oh, hit 53.

[00:53:58]double topped at 53.

[00:54:04]So, we'll have to wait and see. Another thing, too, is um the members of Congress, they they've been banned from uh prediction markets.

[00:54:15]So, anybody in the know with true insider information, which they're still allowed to buy stocks in crypto. Isn't that Isn't that awesome? Isn't that wonderful that they're regulating this and they're still able to buy it? No wonder they they're talking about ethics. [gasps] But again, if you're going to do ethics, if you're going to open up that can of worms, well, let's How about we investigate Nancy Pelosi? H yeah, would make sense, wouldn't it?

[00:54:44]like a monkey could [ __ ] tell you you if you're in Congress and you're legislating stocks and crypto in the in the SEC and you're the one creating rules and and laws, you shouldn't be able to own individual stocks or crypto.

[00:55:01]I know it gets dicey. It's like, well, can they buy gold? Can they buy a house?

[00:55:04]And like they could do something that's good for the housing industry. It's like, where do you where do you draw the line, right? It's pretty pretty gray area. I wouldn't want to be the one figuring it out, but for damn sure, a monkey could tell you they shouldn't be allowed to buy individual stocks or individual cryptos. Maybe a house, maybe some gold, some silver, um, and and some ETFs, like a basket of like of of holdings, right? Like the S&P 500 or something. But even that like I think Senator Bernie Mar Marino or Marino I think his name is out of Ohio he he when he said he got when he got into Congress when he became a senator he said he sold his business which was his baby. He created his own business and sold it. He sold all of his assets.

[00:55:50]He sold all of his investments and all of his crypto because he thought that was a conflict of interest and didn't think it was right ethically and morally. See now that's a good human, [laughter] right? and that the rest of Congress should follow follow suit. And to be honest, a lot of them should be in jail for the rest of their lives.

[00:56:09]But of course, they don't we don't hear about it with stocks or ethics there or Nancy Pelosi. Nope. I love how Trump though uh whenever they were like I forget it was some sort of address the nation or something and [laughter] he was like we're looking right at Pelosi point at her. But anyway, I hate them all. Like they're all scum. They're all scum. Don't pick a side. They're all terrible. Just hate them all and life gets way better. Same for any government. Like I said, politics can't stand any of it. Government, the world, the word literally means control, right?

[00:56:38]And they could care less about any of us. But like I said, there's hating politics, there's hating governments.

[00:56:43]The US is on a whole other level. They they just they got the award for the worst government ever. It It's just such a gong show. Can't stand it. Absolutely terrible.

[00:56:57]Thanks, man. Appreciate it. You bet. No problem at all. All right, that was fun.

[00:57:02]Hopefully uh it was valuable. Hopefully got lots of information there and uh yeah, we'll see what happens. Nobody has a crystal ball, but I do think that they're going to get it across the finish line. It's just what are they going to do? [laughter] It's uh yeah, like I said, you could put a bunch of monkeys in Congress and I bet you they'd figure out better policy when it comes to 99% of this stuff. All right, hope you have a great rest of your day.

[00:57:28]It's Rod here. Thanks again for joining us on the Pursuit of Wealth. And let me know what you think of this in the comment section if you're viewing this after the fact. Always love hearing from you. And uh we'll check back in soon.

[00:57:38]All right, have a good one. We'll see you on the next video.