82,500 Hit Today. Here’s Where Bitcoin Goes From Here

Añadido: 2026-05-09

[00:00:00]Well, Bitcoin getting over 82,000 today.

[00:00:03]We hit our final take profit on our big swing trade that we took right after the Powell crash.

[00:00:09]Doing pretty good. Finished up about 130% in profit. Now, the question lies, what happens from here? Chris here, the world champion crypto cowboy. We've got a lot to talk about this morning.

[00:00:21]Bitcoin made the run up and it's getting rejected at the time. I still think there's some more upside in the tank. I still think we have a realistic shot of heading towards $87,000.

[00:00:31]What I want to see here is I want to see some kind of bounce around that $80,000 mark.

[00:00:36]If we can get a bounce there, I think we've got room for a little more upside before we get some kind of bigger pullback.

[00:00:42]And when we get to the pullback, the question is, where? Where do we finish up? Do we finish up at the with a higher low or do we go ahead and head back to that technical target somewhere around $35,000?

[00:00:53]A lot of questions going on right now.

[00:00:55]If we have a weekly close above $87,000, I think we're in the bull market and we'll figure out where to jump in with our spot purchases there, but if we reject before there and head back down, those are the two places I'm looking for today.

[00:01:09]The whole thing's kind of setting up the way we thought it would. The tinfoil cowboy hat's playing out.

[00:01:14]Got the new Fed chair coming in. He gets confirmed this week. The Clarity Act gets You should go to the Senate probably here in about 4 days. We've got to get it through the Memorial Day session before if you don't, it gets pushed out to 2030 and that sets up a whole lot more downside for things like XRP and ICP.

[00:01:34]Which reminds me, ICP up 10% today. I gave you a video over the weekend that said it was ready to run and that's exactly what it's doing.

[00:01:41]Just makes me think that something bigger's at play here.

[00:01:45]You've got the DXY that's ready to come down.

[00:01:49]You've got bond yields that look like they're ready to roll over. Oil looks weak, but it's still elevated and that's the biggest 800-lb gorilla in the room we have right now.

[00:02:00]Question is, is there a hat trick in this somewhere that brings oil prices down with the Strait of Hormuz still closed? 62% of the world's oil supply runs through it. And we've been out at Sorry, 20% of the oil world's oil supply runs through the strait.

[00:02:16]And it's been blocked for over 60 days.

[00:02:18]That's going to hit a supply shock.

[00:02:20]We've talked about the things that JP Morgan has said about oil prices rising up exponentially in the next 12 to 15 days.

[00:02:30]But if everything's ready to run, something's got to happen with oil, too.

[00:02:33]It can't just stay elevated and everything run. That's why I'm not buying spot yet, and that's why I haven't gone in deeper into my spot purchasing and and investing.

[00:02:42]We've got It's got There's a There's a There's a balance here, and oil's got to come back before everything runs, and that's just the way it is.

[00:02:51]So, I'm going to sit out for a while.

[00:02:52]We're going to watch it, see what happens. Maybe there's a hat trick in this. Maybe there's a There's a There's an opportunity to sell domestic oil to fill the gap. I'm not sure. I don't think anybody really knows what's going on, so it's big hurry up and wait.

[00:03:06]But I'm going to wrap this one up. Got some horses to shoe. My client back there, she's going to get mad if I don't go to work in here pretty quick, so I better get back to work.

[00:03:14]Wrapping it up here, Chris Harrelson, the world champion crypto cowboy. I really appreciate you watching. We'll see you down the road.