Prices Drift Up for Bitcoin Price Chart, Altcoin Market & XRP with Structure, Technicals & On-Chain

[00:00:13]Hey, what's going on everybody? This is the Blockchain Backer bringing you the latest cryptocurrency news and analysis.

[00:00:22]Today we'll be taking a look over here at the Bitcoin price chart which sits at $66,000 as the total market cap of crypto sits at 2.24. 24 and XRP at $1.13 coming off of price finally able to push from this range that's been stuck in for about two weeks. A couple attempts to try to get out, but it looks like now we finally are here for the Bitcoin price chart. In my last video, we took a really bigger look at Bitcoin, showing how so many people are missing what's actually going on here on the chart compared to things that we experienced in past bare markets where we do have a bullish divergence being printed in here where, you know, price goes down.

[00:00:58]Doesn't quite get as high, but we have the bullish divergence printed. We're trying to confirm the bullish divergence here by being able to pop out above that May high, which over here on Ethereum, we're getting awfully close to being able to do that in here. Not quite.

[00:01:12]Still have to do it, but boy, we're really close. But also showing how we've done this exact same stuff. And we did it back in 20122 where the market capitulated through the 100week moving average. We went back to back test that previous support floor. And then of course we had the FTX collapse show up right in here. And then at this time the entire market was incredibly scared that we were going to go significantly lower.

[00:01:36]If you remember 12K 12K 12K that went on for a very long time after that. Then of course we drew those analogies to show that's really exactly what has happened here for Bitcoin in the crypto market here in 2025 and 2026 after we capitulate back test that broken support floor and then we get you know the $5 billion liquidation to show up in here.

[00:01:56]Similarly to then 2022 we get a $1.5 billion liquidation for the FTX collapse. But of course at the same time it's one thing to just sit here and visually say wait a minute I think I actually see the same things on the chart. Yeah, I'm going to add this line here. I'm going to make it look like this and this and this. They all look the exact same. But when you understand what's happening here on the technicals for these types of things to happen and then to back test these floors and then we check our technicals to see that hey we go oversold here on the weekly time frame and that we go oversold here on the weekly time frame on the capitulation through the 100 week and then after we test that floor we create a bullish divergence like we just talked about on the total market cap of crypto and here on Bitcoin and then we have the liquidation and then we have FTX then we and look over here at onchain supply and a loss or percentage supply and a loss to see, hey, wait a minute, we're hitting the exact same losses as we were hitting back then at the same time. We were not able to get this deep into total percentage of supply in a profit until FTX collapsed at that exact same moment that we're seeing here on these charts that we not only structurally do the same thing, not only technically with the indicators and price behavior do the same thing, but on chain we do the exact same thing. And so then you say, well, what did sentiment do during that time after FTX collapsed? Well, everybody screamed for lower, right? As a matter of fact, those screams for lower did not stop right there in November and December of 2022. They continued all the way until October of 2023 as we climbed the wall of worry.

[00:03:30]And the market was still scared that we were going to go down and set a new low.

[00:03:33]So right now the crowd is really coralled around the idea that we have to set the September October low that we are all wasting our time trying to find a bottom because we're not going to get it until the 364th day until the peak.

[00:03:46]And so I've gotten text messages from various people all asking me this sending me Tik Tok videos and I'm not talking about various like crypto natives. I'm talking about people who are very green behind the ears or green horns or noobs to crypto and sending me these Instagram shorts or Facebook reels or Tik Tok videos all showing, you know, 364 days from the top. And I know that the entire crowd is all coralled into this idea that that's when we have to end up hitting it. And I posted kind of a long form discussion about that over here on X. It's been a while since I've made like these multi-point posts here.

[00:04:19]But I addressed this, right? The discussion that hey, it takes 364 days from the top to find the bottom. But here's the major problem with that.

[00:04:25]Here's an old chart that I've had for a long time and I obviously haven't messed with for quite some time. But we can see that the 2011 bare market, it's 162 days. We can see that the 2014 bare market is actually 406, you know, 412.

[00:04:40]It's moving over here to these two where we have the 2018 bare market where it's 264 days and this one right here in 2022 which is excuse me 364 days for both of these. So, if it's happened twice, it must automatically mean it happens every single time, right? Well, we've had two times where it hasn't. But, you know, obviously this is where everybody is coraled into the discussions of saying it must go until late September, early October because we must take 364 days.

[00:05:10]So, 364 days from the peak of the market means we don't find our bottom until early October. Right? That's the entire September October bottoming theory. I understand it. I'm well aware of it.

[00:05:22]It's how it's happened in the last two cycles that it took 364 days. However, the prior to one, the one prior to that was 412 and the one prior to that was like 200. Right? So, here's the issue I have when it comes to doing things like that is that we can kind of like isolate our capitulation moments that have happened here throughout the market and then look at the technicals of what was going on in the market at that time to see we really kind of maintained this floor at least for these last two cycles. Right? You go into your capitulation right in here. What do we have to do? We finally have to go into oversold conditions in here back in 2018, right? We finally have to go into oversold conditions right in here to draw any comparison of the technicals of with where we're at right now to say 2018 before it goes into the big capitulation down here at the floor. We have to ignore the idea that hey 364 days matters and the technicals don't matter. We have to ignore them. we have to ignore this right here that we hadn't gone oversold or in here ignoring that you've gone oversold or ignoring that you finally get oversold here on the 400th day. But I think the bigger thing is looking at over here on onchain and percentage of supply and a loss that when we go back to these moments where we say oh we still have to wait till the 364th day because we still haven't capitulated yet like in 2018. we can see what the percentage of supply and a loss was at and that we were hovering right here at about 52% of supply and a loss.

[00:06:41]Once the capitulation happens and we go to the 364th day, that's finally when we get into these low 40s of percentage of supply and a loss and the capitulation floor shows up in here in December of 2018 when we finally are able to get percentage of supply to be in a loss.

[00:06:58]The same thing goes over here with FTX's collapse that we reach down into these levels similarly to C19 when FTX collapses at 364 days. But what we can already see is that not only did our technicals already do it, we can already see that this has done it. So you have to make the assumption that this doesn't matter. Technicals don't matter. Moving averages, structures, depths of bare markets, you have to assume all of this doesn't matter and that we just don't need any of this data. We don't need any of this data showing total coins being in a loss and when people are the hurt the most, right? What do we know? When people are upside down the most, they become bearish. The the crowd swaps, right? We don't assume that averages will hold. Maybe averages will hold or that anything structurally matters because the only thing that matters is time. That worked twice in the past but didn't work twice in the past, right?

[00:07:50]2014 it wasn't. 2011 to 12 it wasn't.

[00:07:53]But since it was in 2018, which our technical behavior does not mimic that by us already going down and getting oversold in here, or by 2022, which our technical behavior already assumes we're beyond, as I just showed with our price behavior to show that, then we all have to assume, oh, time time matters. And I do just challenge anybody who is fully just holding on to this time thing, saying, well, you do realize that all the onchain behavior is different from the two past examples you're using, 2018 and 2022. The technical indicators are different from what happened both in 2018 and 2022, right? So, you have onchain, you have technicals, you have price structure. You're looped into the idea of time in which it's not measurable. You can't do anything with that information and and prove it in any way. Unlike all of these different things where we can use these data points and point to them and say, "Hey, here's this, here's this, here's this."

[00:08:44]And hey, if it was 364 days and if we hadn't seen onchain, then we'd be sitting here saying, "Hey, looks like maybe it's repeating the stuff. Maybe it still's got to take the 364 days because we just haven't quite reached to the total coins and a loss like we typically do at 364 days. Problem is we already have. And so that issue that's brought up there is that, you know, it seems like the crowd's wrong footed. It seems like the crowd is set up to be in a position where, you know, the price could go against them. And we know that happened back in late 2025. The entire crowd was coraled around the idea that Q4 was going to be incredibly bullish.

[00:09:19]And at the same time, what did they do?

[00:09:20]They ignored all the technical behavior.

[00:09:23]And so we talked a lot about price structure. We talked a lot about technical behavior there in late September and early October. And then sure enough, you know, the October 10th liquidation came in and a real bare market set in that still the crowd didn't believe in. And so we talk about like going through a wall of worry or a climb back up. Think of that as like when we went down, right? Throughout all of the stuff, right? It's still a bull market. It's still a bull market. It's still a bull market. As long as we're holding 74,000, it's still a bull market. It's still a bull market. Okay.

[00:09:48]Now it's a bare market. we must go much lower now, right? That's the idea is the same the same way when you go up. It's the it's you've seen the bubble structure, the anatomy of a bubble structure, right? It's called a disbelief rally. And so typically after we come back and back test these capitulation floors, like in the examples we've been using all year long, we expect to see a crashing structure.

[00:10:09]We expect to see a liquidation. We expect to see a back test of liquidation and then a secondary test of that floor.

[00:10:15]Think of it, you know, 1 2 3 4 5 6 7. I went through a whole video showing the crashing structure. I even ran a video from uh bcacker.com explaining the crashing structure in detail with like a 17minute clip like really explaining the anatomy of it. And so far right now it is still playing out. The thing is we will probably still see the psychological impact of people waiting for September and October and then people start screaming it about it even more as price kind of starts to go up uh in a disbelief rally. People don't want to buy it. They're scared of it. it'll continue rising and then it eventually it has to reach a breaking point, a pain point where they can't sit sidelined any longer and then that's when people typically come back in. And typically these processes are drawn out and it can take some time. So, um I don't want to come on here and tell you, hey, look, hey, we're at 66,300. This means we're going to be at $85,000 in a week from right now. It typically doesn't work like that in these types of structures.

[00:11:06]So, we'll kind of narrow in and talk about this type of stuff here for the remainder of the video. But I did want to address right like the 364 days like of course I can see that I'm not blind to that but I'm showing you the onchain data and the structure of the crypto market to say well you are you know that you're going against this stuff right if you're believing in that you're believing in the fact that we've already liquidated this market we've already hit onchain losses we've already reached percentage supply and a loss we've already reached oversold levels and all of those things had not triggered yet in the examples that you're using for 364 days and it actually took 364 days for all of those two trigger and they have already triggered now. So that's my point. Do whatever you want with it. You can look into the the psychic's crystal ball and assume that that crystal ball and they they know something because they're tapped into the universe. Uh but for me, I I do data and so I can present to you that data. Now, when it comes to what's happening with Bitcoin currently right now, for the last couple of weeks, the idea has been that we'll at least get to $67,000, right? The hard part about being where we're at right now is, you know, people want one of two things, right? They want price to either shoot back up and make them feel a whole lot better or the 364day gang wants it to go ahead and break down because these guys aren't actually bears. They're bulls that have sold low and just want to be able to get more coins. So going sideways like in an ABC correction will not leave anybody happy. But it's very common that's what we end up doing in here. Alternatively, we could actually just fire up here to I don't know 72 $73,000 and then build a range throughout here.

[00:12:41]So, let me give you some examples of those right here and showing that's what we typically do, right? We will get back up to wave four within wave five before we go to seven. We will typically get here. A lot of times you'll clip it, sometimes you won't clip it, sometimes you get a little bit above it. There's no hard rule saying it has to stop directly at it, directly above it, directly below it. But then it will A B C correct from here and then we can start an actual journey. It's usually not a straight line up like that. It's usually stairstepping its way out of there. Alternatively, we could just fire up in here. And so clearly this ABC example, you can see this right in here.

[00:13:17]Other examples of that are going to be like the 22 1.5 cent gang for XRP who were here back in 2020. If you remember, we went through a crashing structure throughout here. All right, there's your 1 2 3 4 five, right? Rolls back up to wave four within wave five. Then we go on and set the new low. Think of being with Bitcoin and something like this.

[00:13:37]All right. And so we're trying to work back up to that wave four within wave five. And you can see we can clip it and then ABC correct from here and still run sideways before prices can actually take off. We can just scoot forward a little bit over here to the next anatomy of the correction that happened here. When the SEC sued Ripple, we had a very clear crashing structure that happens in here.

[00:13:56]1 2 3 4 1 2 3 4 5 rolls back up to wave four within wave five sets the new low again for those who were here at this time when the SEC sued. Think about here. Did you think there was no hope ever at this point? Well, the anatomy said we did. But notice we work back up to wave four within wave five of the crashing structure. Look at this example. It doesn't actually eclipse above here unlike this one where it does eclipse right above wave four within wave five. Right? no golden rule saying we have to go above, hit it on the dot or a little bit below. But then what happens? We ABC correct from here and then price can shoot up and this is a crashing structure. So that leaves you here, you know, if you're working your way back to wave four within wave five, do you come up a little bit short? Do you go a little bit above and then go ahead and do your ABC before you can start shooting your way back up? Similar to here where you do get above it, your ABC and then you work your way back up.

[00:14:49]or this is another one that we've used for Bitcoin from back in 2023. We created a range. We liquidated the range, rolled back up, went down for the new low. Remember this everybody? This is where the joke is, right? Spicy BCB was born. People are still screaming for 12K. It was like a meme that this arrow was used right here to point down to 12K. I don't know why everybody in the major content creators were using this particular arrow. Maybe just for drama, but how many times I saw this pointing to 12K with like this arrow. You guys know if you watch this channel, I I frequently use these ones. But anyway, going back to that, right, in the anatomy of it, that's how it works, right? You have a crashing structure with a major liquidation. This is a $1 billion liquidation that happens. You roll back up, you set the new low, works its way back up, right? Wave four within wave five. And then what ends up happening? we end up getting the ABC correction and then it's able to take off. Right? So ABCing from this area and so consolidating longer is definitely reasonable and it's not something I haven't been showing to you. It's not something I haven't been talking about.

[00:15:51]It's not something that I haven't been writing about over here in the newsletter. At the same time, the expectation that we would see the rise happen in here for the price chart. But then we have to watch out for an ABC in here before prices can, you know, actually get moving. We have to stay in the wall of worry. You have to keep the crowd on their toes. And that's going to be kind of the thing we're going to have to kind of mentally prepare for in here is that we still have some stuff to do before we can shift up to the next wall of worry. Otherwise, the reaction that we've seen so far is really exactly what we would want to see. Now, I will say this is where it gets a little bit harder, a little bit diceier on how ranges can build in here. I continue to try to point to the major time frame stuff, right? It's it's a lot easier to know what's happening in the market on the bigger time frame. It's when we get into these nitty-gritty short-term time frames where the statistical probability of being right goes way down. Right?

[00:16:42]It's much harder for me to accurately predict what will happen in the shortterm time frame price action because daytoday, week to week, things can change. But when we're looking at things on monthly time frames, yearly areas, we tend to just kind of do the same thing over and over again. But then when we really narrow in on small time frames, things act very different. Just like we talked about for the 2015, 2019, 2023 bottoms, they all had different looking bottoms. So, if we're sitting here trying to nitpick and figure out exactly how each one of them are going to behave, we're probably going to end up getting it wrong. So, confidence levels goes way down on this on on picking short-term price action. While this is the most common, right, on a crashing structure, this is going to be your most common. A way to think about this, too, is going back to the top of the 2021 bull run. So for those who were here during that time, what is one of the things we did then is we actually looked at this from the inverse scale to say look this is a crashing structure or an inverse crashing structure that has happened here for Bitcoin and we used this at that time as one of the I don't know wild ways to explain how the top was actually happening at that moment.

[00:17:46]Now, you can see in this example in here, price actually ricochets back up nearly getting to this floor over in here with this short squeeze or at the time it was a long squeeze that was a liquidation of the market that happened then. But notice how price kind of forms in here and look at this range that is built down in here, right? Look at this range. Very similar in anatomy that they kind of stay rangebound. It attempts to get out of the range but then gets sucked back in, right? Attempts to escape the range. It gets out and then gets sucked back in. Then finally it escapes, right? And then finally it escapes, right? So that would be like, oh, ABCing from right here, but obviously it doesn't. It it it has a leverage situation show up in here, right? And so you saw earlier, you know, we said, okay, like you know, you can ABC from right here or you could even come up in here and then build your new range from up within here, right? If there does become a short squeeze that happens in here like this, where you could still short squeeze higher, but then we still have to build a new range.

[00:18:43]And so that's the complication of looking at things on really shortterm time frame recoveries. It's highly unlikely, right? Bear or bad news, it's highly unlikely you're going to get a straight line up taking you out of here, which is what we all want. If you think I don't want it, man, I'm positioned for it. I'm very positioned for it now with 80% entered in. I'm fully happy with that. But it's just very unlikely, right? And so what we have to do is think of this as like climbing a wall of worry. And when you climb a wall of worry, what do you do? You stairst step up. You take a step up. Then you build a range. You try to figure out where is it that that new range is going to be formed. And then you have to say, well, what do we need to do now in order to escape the range? And it's kind of the same thing every time. It's kind of like what we what we just saw right in here.

[00:19:31]If you think about what's happening with the market, we typically will escape a range. There's typically going to be a lot of excitement, a lot of hooting and hollering that happens on X. people who finally capitulate on their ideas of thinking that we're going to go down and then they'll buy back into the market, but then the market pulls back and it gets real rangy and then they start kind of questioning, dang it, did I just end up buying back in at the top? And then as we build our range, what happens at the end of the range like we just showed right over in here from back in 2022 and 2023, the ranges tend to always end with these liquidations and then the crowd sentiment deteriorates thinking that we're going to go lower, but then we end up going up. And so we end up building a new range until crowd sentiment is deteriorated enough and then we have a liquidation and then we shift up. So right now it's just kind of trying to determine where do we end up building this range from. We know that in crashing structures typically this area of 6768,000 poses a challenge before an ABC shows up. If we do end up getting some type of liquidation that happens or a short liquidation, we could see price shoot as high as 72, 73, 74,000 until another range is built and then it ends with a liquidation. The crowd starts pointing their arrows down and then we shift up to another one. So that's where I think we kind of are right now, but it's really hard to tell. Are we going to ABC from exactly where we're at right now? I have to assume it until like a liquidation happens or a short liquidation happens. But either way, both of these things are implying, right? That was our low that just happened in there on a crashing structure and we got the crowd off sides, which is precisely what you would expect to happen based on what we've seen in this market before that after we capitulate through the 100 week. We going back test the support floor. We have a major liquidation and then onchain losses hit. We know what crowd sentiment did exactly when that happened and when FTX collapse happened. We know the crowd corraled themselves around a lower price and we have that currently right now. So, a lot of people kind of think of me as like the Darth Vader being against like the crowd and stuff like that. And the whole point of me doing these types of things is not to be that and not to sit here and scream and point at you and say you're wrong if you're in that camp. And I know most people who watch this probably aren't.

[00:21:47]If you watch this channel, you probably just enjoy looking at the data and getting the the straight take on it. But it's guaranteed a lot of people are watching who do believe in the 364 days, the late September, early October. And I show you all of this just to challenge that belief that that's fine. If it hits it, it hits it. If it does in 364 days, well, guess what? Then there's some type of magical little unicorn fairy dust puppet magic pulling the puppet strings gotter simulation to make it actually end up happening. However, in order for those things to happen in the past, very specific data all aligned for that to occur. And it may not be shown to you that 364 days did happen twice. However, two times it did not. In one time it was fewer than 364 days. At one time it was longer than 364 days. But everyone's hyperfocused on two. And so when we take a look at the data of those very particular two, we can see we've already done the same stuff of what happened in 2022 when it happened. And then we can also see that we've already done the capitulation stuff that happened in 2018 when it occurred. And so the data doesn't align for it like it did back in 2018 and in 2022. And there's inconsistencies that probably aren't being shown to you of 2014 where this one's over 400 days and then 2012's which is under 200. So do with it what you will. I do just know that back in 2025, we spent a lot of time talking about the data and saying something was very wrong up there at the top and everybody ignored the data and focused on time and it was detrimental to people who did. Right now, none of the data supports it. Right now, all the data points to we've already done an FTX collapse. So, we'll see how things go.

[00:23:24]But, as for Bitcoin, things look all right. Now, one of the things I get asked a lot in the comments, and people always want to make assumptions, and I'm very clear with you. try not to like leave you riddles or leave you anything like that cuz people keep asking me, "Oh, so do you you're saying XRP has bottomed?" And I think I've probably said it a dozen times just in the last month, even writing about it in the newsletter, hey, even if we end up getting this that you could still see that bottom come in here for XRP. And it's not necessarily that each individual altcoin has ended up bottoming. The challenge with something like XRP and where we can be really straightforward and assumptive about this data for Bitcoin. The challenge we have for XRP is not that we can say, "Hey, look, we've definitely hit these onchain losses in here or a supply and a loss because XRP is still a little bit short on that supply and a loss. Does it automatically mean it has to go hit the 43 to 45 billion coins that it typically does?" No, it doesn't mean it. But can we make these exact same assumptions like we can for Bitcoin or for Ethereum which have hit them? We can't do it definitively. We can't say it with as much certainty as we can about those that Bitcoin has officially hit percentage supply in a loss, right? Or Bitcoin has hit total coins in a loss.

[00:24:34]We just can't say that exact same thing for XRP in here. So don't make assumptions because none of this has changed. Can we get a nice little surprise and that was good enough at 41.3? Absolutely. But we can't make the exact same assumptions that we can for Bitcoin and for Ethereum because if Bitcoin goes and sets another low, that would be the first time that we set a higher floor for percentage supply and a profit. You can see here, here's 2018's down here at 40%, then when C19 happens, it goes to 42. Then when FTX happens, it goes to 44. And then right in here, what do we get to? We get to 46. Right? So we have these floors constantly rising. If Bitcoin goes and sets a new low, then we have a change in trend or we have more people and more percentage of supply going into a loss and we're no longer in some type of uptrend within this data.

[00:25:26]Which of course, if we go and set a new low, we're going to see total coins in a loss get even higher. When we have these very clear levels of where we get to and then that being the end of the bare market. So going lower on Bitcoin creates an anomaly in the data of what we've historically seen that is a marker of the actual bottom. We can't make that exact same assumption about XRP because we haven't hit the numbers that we typically do. It doesn't mean it won't come up short and 41.3 was good enough and that's it max pain. But we just can't say the exact same thing if you follow what I'm saying, right? Like we've hit the 10.5 million for Bitcoin.

[00:26:00]We've hit the percentage of supply and a profit. We just haven't done that for XRP. So you can't do the exact same assumptions for it. So when people say, "Oh, you're saying this about Bitcoin?

[00:26:10]You're saying that about XRP?" I think I have to say this over and over again because people do kind of hear what they want to hear and make their own assumptions of what they want to hear.

[00:26:18]Well, I'm being pretty clear with you, pretty pretty clear in the newsletters and in the videos really outlining it like these things are still on the table and all altcoins are going to behave differently and you know, we've seen Hyperlid go set a new all-time high.

[00:26:31]We've seen Ethereum reacting really well from these levels, right? Some things are going to already be bottomed, some things are still going to deteriorate.

[00:26:38]you you just can't do every altcoin identically with the whole market because that's not how it's happened in past markets. It didn't matter that FTX bottomed and that Bitcoin bottomed back in November and December of 2022 because we saw inconsistencies because some coins bottomed there, some coins didn't bottom there. Even prior to FTX collapsing in 2022, a lot of altcoins didn't even need to set that new low and that their true low came on the capitulation moment in here. like Ethereum, its low happened right there in June. Notice that when FTX collapsed, it didn't set a new low. That was true for BNB as well. The actual literal low of BNB happened right here in June, not during FTX. That is also true for XRP.

[00:27:21]Its literal low happens right here in June of 2022, not during FTX. We never went any lower. But then as some of these altcoins creep up, you can see BNB, it even comes back down and touches this floor once again without setting a new low, it comes back to the floor. But then some coins act differently than you know XRP, Ethereum, Binancecoin, and even Bitcoin in here that here's the low of June. Here's the FTX collapse.

[00:27:45]Cardano still sets one more. And so with each individual altcoin, it's very difficult to nitpick. Is this one going to do it? Is this one not going to do it? And the the challenge of course is we know that XRP has really followed Cardano's 2022 bare market and it hasn't hit the onchain losses yet. So XRP is kind of this challenge in its own that it structurally still has like the wild card left in it and we don't have these definitive things to say it's good enough but that if it did do one more you know we would have an identical structure to what Cardano did and we would also have the onchain losses and then we can start making these same statements like we're making for Bitcoin where it's done the onchain losses supply and a profit oversold conditions FTX all that different stuff but to pick your individual altcoin and say how is your altcoin going to So I mean even right now like looking at XRP we could add hyperl liquid and say that this coin's already gone all the way back up above where the October 10th crash came from right the altcoins act very different in and of themselves and so all of our discussions about Bitcoin are not implying very specifically to each individual altcoin and you can see those challenges of what happened in 2022 specifically in June where Ethereum Binancecoin and XRP all bottom at the same time Cardano drifts a little bit lower or making that assumption currently right now that XRP is not going to do the same thing. I'd love for it to go up. I'm positioned for it to go up. It's great. Uh but you have this data anomaly in here and until that resolves itself, we can't say the same definitive statements like we do about Bitcoin. And I addressed this earlier in videos for the past several weeks and even in the most recent newsletter published that, you know, if it does this ABC stuff in here, I wouldn't be surprised if our moment came during that ABC correction that that's how it could find its bottom. And right, these are all just guesses on small-term time frames on how this is going to end up playing out. I would love for it to be a surprise and for it to shoot its way back up. I'm fine with that. I'm I'll be done accumulating. I'm good. My bag is just fine. However, right, this has kind of been addressed multiple times. So, the things that we're really watching is just to see, you know, is Bitcoin going to have an ABC reaction come from right within here? Do not be surprised if it does. We've talked in detail about this.

[00:29:55]Alternatively, if this thing short squeezes its way out of here, don't be surprised by that either. Uh, it will just mean, of course, we we've seen the same thing that we've always seen, something like an FDX collapse happening. The crowd getting off sides, they get the Michael Sailor story where Michael Sailor sells at the lows, so they all believe it must go lower, and then suddenly there's a lot of wrong footing. This will create a lot of excitement. I still would think it would probably range after that. So, you could cheer for whichever one you want. I think if we get this one, this will probably relieve a lot of crowd sentiment at that point. So, I welcome that with open arms, but definitely this type of move right here is on the table.

[00:30:28]So, just be mindful of it as we head into this week and into next weekend.

[00:30:32]Otherwise, guys, that's going to be it because this video is over 30 minutes long, and I appreciate your patience if you made it this far into it. I'll go ahead and start wrapping things up. Uh, you can check out the newsletter that I just published several days ago over here at blockchainbacker.substack.com titled, "Everyone's watching. The narrative, the data isn't technical, onchain, macro, and top network activity coins tell a different story." We of course go into all of this detail, but at the same time take a look over there at any type of coins that are actually still seeing use case happening and we can look on chain and see which ones are. There's a link down here in the description of this video to the newsletter at blockchainbacker.substack.com.

[00:31:06]Otherwise, I hope you have an absolutely wonderful day and I'll check in with you tomorrow and markets in the morning. But that's it. Thank you so much for watching. If you could please like this video and give it a thumbs up. If you're new to the channel, please subscribe and hit the notification bell so you can be notified of when I create new content and when I go live. As always, this is not investment advice and I am not a financial adviser, but if you ever need a pickme up or a little bit of reassurance, just remember that the blockchain backers got your back. Have a good one.