BITCOIN's RANGE EXPANSION - What that means for Traders. Be Ready with Rational TA inside!

Added: 2026-05-11

[00:00:00]All right, guys. What's going on? Welcome to Sunday Night Charts with Jim of All Trades. Good to see you. Welcome to the channel. Let me see if I can get this off the screen. There we go. And let me see if I can get myself on the screen here. One more second. Three, two, one, and we're live. What's up, guys? All right, we got the We're all moved uh to a new place here. Got a new background in in here. This is my office. That's my kitchen in the background. We're gonna kind of got my desk in a in a central place in the house. Kind of interesting location, but it works. I like it. So, hope you guys are well. My name is Jim.

[00:00:52]I'm a crypto trader. Welcome to Jim of All Trades Sunday Night Charts. I'm here to help you understand the market from an Elliot wave theory perspective. Guys, I'm an Elliot waver. What does that mean? There was a guy back in the early 1900s who uh named Elliot who uh saw the saw the market through a lens of fives and threes. He as he looked at the market, he saw patterns of fives and threes. He put them together and kind of had an idea where the market might be heading. And that's what we're going to do. We're going to look at the market.

[00:01:21]We're going to see see if that we can see those fives and threes, put them together in known patterns and figure out where the market might be heading.

[00:01:27]Guys, we are expanding the range. The range is expanding. So, we're going to talk about what that means for trading.

[00:01:33]It's pretty awesome. It makes it an awesome uh time for trading. So, if uh if you're new to uh Elliot wave trading or Elliot wave theory, I'd love to invite you into my Discord. It's a great place to be where you can learn all about uh Elliot wave theory and how we look at the market and how we think about trading from that perspective.

[00:01:50]It's not the only thing we do, but it's certainly uh part of what we do.

[00:01:55]So, with that said, let me say hi to everybody said hi to me. I'm sorry. I'm a little multitasking here. Let me say hi to everybody that said hi to me. Got Keith on a run. What's up, buddy? I'm doing well. I hope you're doing well.

[00:02:06]Breathe, man. Breathe. Uh what's up, Eddie Bo? Good to see you, man. I'm doing well. Sorry I missed you guys last week. I I just crazy times in my life.

[00:02:16]been in the middle of a move here, but I'm finally settling down and uh man, oh, did I ever ever ever have a very tiring week last week. Oh, crazy. I worked a lot of hours and had a lot going on, but things are going to settle down here going forward. What's up, Ricky Spanish, my good friend? Hope you're well. Good to see you, man. Um, and there's Durham Durham Lion. Leon, what's up, buddy? Um, it's good to see you. We're ready for triangles. It's not a triangle.

[00:02:51]It's not a triangle. I love it. Crypto fever, what's up, man? Hey, Jay. I am keeping well. I'm doing really well. I'm uh been working hard, keeping fit. My blood pressure's down. Everything's good. All right, guys. Let me know the audio and video is good. If you can hear me and see me, everything's rocking and we'll get started. So, let me check the uh um check the live stream here and just make sure we're good. Stream health looks excellent. There we go. Everything on my end looks fantastic. I'm streaming. I see myself. We're We're good to go. So, uh all right, we're going to jump in here and look at the uh market. Don't forget, none of this I say is financial advice. I'd never do that. I'm not a financial adviser. I'm just a guy here in the state of misery looking at the chart with you and showing you what I uh show showing you what I see. But don't don't don't mistake it for financial advice.

[00:03:51]Okay. Everything's good. Durham says, "Awesome. Appreciate you." What's up, S Joe?

[00:03:58]S Joe Coco. What's up, man?

[00:04:02]Good to see you, dude.

[00:04:05]Uh, I hope you're well. All right, let's let's jump into the analysis here. All right, we're gonna we're going to zoom out just a little bit here. Do a little high time frame analysis, and I'll show you what I'm seeing. What I'm looking at here when I look at this wave structure here, we're looking at fives. And uh, basically, there's one, two, there's three, there's four, and there's five.

[00:04:25]And that's a completed structure. That's a completed fivewave structure as far as I'm concerned. Uh however, we do we did down here at this level have some hidden bullish divergence which which ha is currently playing out and uh everything's happening just according to what we thought. I've been real bullish uh in this area. I was a screaming bull down here. I was yelling and screaming bull bull bull uh knowing that we could possibly hit the hit the low again. And to be honest with you, we are going to hit this low again with almost without a doubt we should hit this low again. Uh it's not nothing's certain in any market, but generally speaking, we we hit lows twice. I I haven't seen a low that we've made where we haven't hit it a second time. So, I'm looking to hit that thing a second time. Eventually, we're going to talk about what we might see to do that, but we're in a state of caution right now with Bitcoin. Why? Uh because we have a three-wave shape that I don't think is finished, but we have a three-wave shape. Okay? And uh we've come to an area of resistance that's very very important. Okay. So we have come into this zone right here. This is my first zone of resistance and we're in here. Okay. Now the question is where are we going? We'll talk about that in just a bit. But we have five waves. Now what we're looking for if we zoom back out here before I start talking about local waves here. Uh I'm looking for three waves to the downside. Okay. I'm looking for three. So we have our first wave. I think we've made a bottom right here. So, what is happening here? I think this is the beginning stages of three waves back to the upside. Okay, which to be honest with you, this bullish wave that we're in that might be headed getting ready to go sideways with a little bearishness over the summer um setting us up for a third wave back to the upside down the road towards the end of 20 uh 20 uh 2026 into 2027. Okay, I'm looking for three waves back up retracing this move. Then what do we get after that? Well, I'm looking for another move to the downside, a third wave. And so we would expect some shape on the chart on the weekly, something like that where prices retesting back down to here or in these zones at least back down to this zone. Okay? Uh and then and then looking to go back to the upside. We have all kinds of targets and wave shapes that could be made here, but this is what we're looking for. This is the idea here. Now, this can get complex. In other words, it could get three waves and then it can double up and take a lot longer. Um, that's totally possible as well. But if you look at the S&P chart, uh, let me just show you the S&P chart. Uh, the S&P, uh, you'll see it on the monthly, right? We are currently, in my opinion, in making this wave right here. And we are currently in this zone right here, working our way back to the upside in three, looking for it to hit again before you get long-term bullishness in Bitcoin. So, that's kind of what I'm seeing in Bitcoin, guys. I'm expecting long-term bullishness as long as Bitcoin is going to be a part of the future, part of the uh part of the finances of the future. And that's a big if, guys.

[00:07:59]It's a big if. We we talk about that on this channel all the time, how Bitcoin as we know it may or may not be part of the future economy. But what I do know, what I can say with certainty that it is the it was the in uh how do I say it, the Trojan horse um of the governing agencies to to bring in a digital society. They had to create something out of thin air and they call it Bitcoin. And it was created out of thin air. It was value out of nothing.

[00:08:32]Something that has no intrinsic value whatsoever. And they had to assign it value so that uh people can begin to have faith and trust in it. Develop that faith and trust. And as faith and trust is de developed in it, it can be used and trans uh and created into a viable uh currency. uh not as we know it but a a the can we say the backbone of a digital economy that's basically what Bitcoin is the technology behind Bitcoin and the blockchain technology is going to be the backbone and the nervous system of a digital economy of the future and they are now we are now in the embryo uh stages now the embryo stages were the early days now we're in the middle stages uh of the zygote of of of a digital economy. In other words, we're baking a baby, baking a digital economy in the womb of of this current global economic system. And they're doing this and they're implementing and stages are being, you know, gone through and and and and things are being done incrementally in order to usher in this digital society that they want to take us to. Guys, this is where they're taking us. So with that in mind, with that presupposition as the foundation of a lot of my personal thinking and understanding, I look at Bitcoin and say, "Yeah, uh either Bitcoin was just the Trojan horse to get us into thinking that digital assets can have some value when digital assets don't have any value intrinsically. They don't have historical value at all. They don't have any uh value uh whatsoever when it's just it's it's ones and zeros guys.

[00:10:24]That's all it is. Yet you guys pay money for it. Why? Because you and I have been trained through the steps that have been taken globally by the our leaders and the people who are bringing in this digital economy. They're training you to to believe that digital assets have value. And and to be honest with you, they do have value. Why? because people are buying and selling it. Now, is that value stable? Is it as stable as, let's say, gold or silver? Is it going to be as is it as time-tested? No way. No way.

[00:10:58]Would I ever say Bitcoin is in the same camp as gold and silver? However, it does have value even if that uh faith and uh hope is, you know, the the the very fine thread that holds the whole Ponzi scheme together. So, as long as that Ponzi scheme is up, I'll be making videos about it and talking about where uh where I think um Bitcoin's going. So either Bitcoin is part of that Trojan horse just just to get us into a digital uh a digital age and they're going to transition us to something other than Bitcoin. But that the this is the first iteration of of the technology that's going to that's going to fuel that digital uh economy. Okay. Or Bitcoin is the is indeed the the digital gold that is going to back that digital economy.

[00:11:56]It's it's it's going to be the um the the thing that has the it's going to be gold of of the of the economy. So, uh that's what they're trying to make out of it. So if it if it does stay around, which again in my worldview um Anthony, that's right. That's right.

[00:12:29]Sorry, but my worldview says Bitcoin doesn't have to be part of the economy of the future.

[00:12:36]It it very well could be, but I could envision uh a scenario in which Bitcoin dies off as well as most of the crypto as you know it. In fact, I have been predicting for a while a crypto winter as it were where um the the the marketplace of the of of crypto will die off in general. all these uh Scoins will die off and money will be consolidated and what's going to rise out of that is going to be the the the the digital uh products uh and and and and items that are going to fuel the the future economy things like maybe XRP or XLM or or Ethereum um you know uh Salana and and and and Monero for instance you know for for privacy and whatnot. So these things that are being set up for that economy only things that have real use case are going to rise up out of that. So that's that's the foundational thinking as I look at this market from a geopolitical standpoint that that our our world governments are creating a digital society. We are living through that creation. Bitcoin is part of that plan. I don't know what the full plan of Bitcoin is but as long as it's here uh the way I'm going to look at this chart is I'm going to say okay I'm expecting it. As long as it's here, I'm expecting price of Bitcoin to come to to get to go to a million dollars. Okay, a million uh eventually, right? It's going to go up like the S&P. But I I I believe that the SM uh the current Bitcoin chart needs to do something like this before before that. And that was my purpose of showing you the S&P chart.

[00:14:25]That's that's what we're living through.

[00:14:27]Okay, we're right now we're in this stage of Bitcoin's price action.

[00:14:34]Okay, so S&P had an impulse wave, a three-wave pullback, and then the impulse continued. Okay, so Bitcoin, same thing.

[00:14:44]We've had an impulse wave. This is called a leading diagonal. One, two, three, four, five. Leading diagonal. We need a correction. I think the first leg of that correction came down to the 200 weekly moving average. perfect spot. And now we're bouncing off this zone. Now, I don't think we're going up forever. I think we're just going to retrace here in three waves, okay? And looking for another leg to the downside. And so, for the next three years or so, I I'm I'm well, for the next couple of years, I I'm fairly bullish, even though that's going to be it's going to be waving, right? Uh but but I've been really bullish in my Discord. I've been talking to them. I'm still I've been talking to them about, hey, I'm still bullish. I'm still bullish, right? But uh now I'm cautiously bullish because we're coming to an area of resistance, but I still see 95K as a real possibility.

[00:15:34]So we we'll talk about that momentarily.

[00:15:36]So anyway, this is my large very large time frame concept. And this this concept is is backed by all the presuppositions that I just shared with you, okay? that we are in a reaccumulation zone of Bitcoin getting ready for the the pump of a lifetime. And you need to make sure that this is the area that you are accumulating Bitcoin for the long haul.

[00:16:03]If you're trading it uh with leverage, you don't need to be accumulating anything. You need to be in and out of your positions. But this is the accumulation phase. Okay. Uh, now we're not ready, not quite ready um to, you know, go all in. I'm looking for three waves. Okay. All right. So, there's the macro analysis. That's what we're looking for. Now, with that said, with that overview, let's go into the micro analysis and start in the 4 hour here, uh, and the daily and just say, okay, what do we got? Okay, so let's start at the daily, then we'll work our way back.

[00:16:38]The best I can tell, best I can tell here is that we have three down, three up, five down. One, two, three, four, and five. And that is an ugly shaped uh uh uh expanded flat. And that's the Awave. That's wave A or wave W of a three-wave correction that could be labeled ABC or WXY. Okay, now that that's the Awave. Now we're in the Bwave. Okay, I believe the Awave is finished. I got a complete count. I think it's done. I think this is the first wave. This is the first session to the upside. Okay. Uh is that complete?

[00:17:18]We'll talk about it. Let me just talk about the the general expectation here.

[00:17:23]This wave to the upside could be as part of a three-wave move.

[00:17:29]Okay, that's going to take quite a bit of time to play out. Okay, we'll talk about the different shapes it can make as it goes. All right.

[00:17:38]Right now, we're coming into an area of of real resistance. Okay. You'll notice that when when when Bitcoin broke this out to the downside, it kept going down and down and down and down and down. Right now, what? Now, what? Generally speaking, we're going to get three waves back to the upside, back to the bottom of these this area. And it's going to look like probably it's going to roll over and go back down for another low. And it totally could do that. Okay. Could totally do that. My eyes are so bad. My eyes are screaming right now. Sorry. Excuse me.

[00:18:23]uh it could totally uh uh make that shape.

[00:18:30]But the question is, is this three-wave done? It could be. We've already reached target. So, let's zoom in on the 4 hour and talk about Oh, I didn't finish what I was saying on the daily. So, what I think here is that this is the this is the beginning stages of a three-wave move back to the upside. Now, that three-wave move could could be simple or complex. Okay? So if it's simple, it's going to look like I just drew it just now. So it's just going to be something like this. Okay? It could come up here and then come down and but it's going to be a general three-wave shape just like that. Something like that's simple. If it wants to get complex, then that means what this is is the first wave of a complex wave. So you have three waves here. You could get three waves back down. that three waves could take the low and then you could come up and and take the high and that would be a flat correction and that would be a nice Bwave of. So you got three here and then you got three here which could come back and take the high if it wants to. That would be fine and dandy. Then what? Then we'd be looking for five to the downside. Fast and furious. Okay. If something like that happened, then then all of a sudden we're looking at something very quick. We're not looking at something taking forever, but that would be very very very quick in time frame. And mid2027, we'd be looking for a bottom somewhere.

[00:20:03]Okay. Now, what else could be what else could be happening?

[00:20:09]Well, again, on the daily chart, I'll get on the 4 hour here shortly, okay?

[00:20:14]But on the daily, this could get more complex. This could just be the Awave of something of a B and a C. And right there, that three-wave move becomes a Wwave.

[00:20:25]Three waves back down. There's your X-wave. And then you get three waves back up. And that's why.

[00:20:32]And all that would be is a complex three-wave move retracing this move to the downside.

[00:20:42]Excuse me. My eyes are just killing me right now. I can't see. I'm not sure what's going on.

[00:20:55]Okay, may have to cut this one short tonight. I may just go for an hour and call it a night, guys. I'm pretty tired for sure. I've had a real But anyway, those are the ideas that I'm working with as from an Elliot waiver. I'm I'm looking for three ways whether simple or complex or expanded. Right? So three three five that's expanded. Okay.

[00:21:22]Simple would be three three.

[00:21:30]That's a simple correction. We then we'd expect down.

[00:21:36]And then complex would be three three three five that's that's that's expanded complex expanded or three three three oh sorry let me try that again three and then something like that. And what you'll notice if we get if we got something like that, look at this range. Look at what price does. Price stays in this little range here for a year for like that's a eight months or six months to a year of price action right in that range.

[00:22:25]But all of that could be a complex three-wave correction of this move that takes the next year to develop.

[00:22:34]So, you got to be able to learn. You got to be able to trade within that environment if you want to trade this.

[00:22:41]Okay.

[00:22:44]Don't I I don't think, however, it's it's it's appropriate to think that Bitcoin is just going to the moon here.

[00:22:59]All right. So, that's simple. That's complex of what I'm looking at in the macro. So, let's get on the 4 hour and say, okay, what do we have then? What is going on on the chart? Well, let's first off mark our levels. Okay, say, Jim, what do you mean marked levels? Well, we're going to mark where the support and resistance is. Okay, I want you to note something just just way the way price moves. Okay. When you have a breakout, for instance, right there, price came down, hit the bottom of that wave right there, you had a diagonal, you had a diagonal trend line. It hit it, you had a reaction back to the upside.

[00:23:44]They came back, took that low, created a divergence.

[00:23:52]Then back up to where the breakout was. Boom.

[00:23:58]Back to those levels.

[00:24:01]Broke this level. Back up to the breakout.

[00:24:06]Broke this level. We just now returned.

[00:24:10]No, I'm sorry. That's incorrect. This came back in three waves back up to the breakout.

[00:24:20]Now what? That's the standard price action where you got a breakout. Oh, come on.

[00:24:30]You got a breakout. Boom. Now we got price action back up to the breakout.

[00:24:37]Now what? Now what? Well, it could play around up here. It can even break. But notice in the process it's broken out.

[00:24:46]It's broken out to the upside as well.

[00:24:49]So now we have a breakout to the upside.

[00:24:52]That's bullish for now, which is why I I believe we've bottomed here. It doesn't mean we can't revisit that price. It just means structurally this wave was the this was the end of this move. Now I think we're in a move to the upside.

[00:25:12]Uh straight up from here, no. If you're not long from down here, you don't have an entry.

[00:25:21]Okay. Now, 4hour chart, let's mark levels. Here's our first level.

[00:25:29]Okay. Then, we're going to go up and look at the bottom of these with that wave there and that wave there. And we're going to mark this level.

[00:25:42]Okay. Then where's the next level?

[00:25:47]See the tops of these waves right here?

[00:25:50]Top of that wave.

[00:25:53]That's an important level.

[00:26:08]Ah, let me turn off this light right here.

[00:26:13]Ah, that is better. Oh, that is so much better.

[00:26:16]Uh, can you still see me in the camera?

[00:26:20]Let's check it out. Yeah, it looks okay.

[00:26:22]I suppose it's dark, but that is better.

[00:26:25]Thank you for that.

[00:26:27]Just my eyes are just burning. All right, so we got the tops of these waves right there. Tops of that wave. And so that gives us that level right there.

[00:26:36]And then the final final levels here are going to be the tops of these waves right here.

[00:26:41]All right. So, these are the levels of interest for the end of this wave. Once I mark levels, the second thing I like to do when I'm looking when I'm analyzing a chart is I like to pull the fibs.

[00:26:53]Again, if you want to learn how to pull fibs and how do Fibonacci analysis, feel free to jump in the Discord. I'll teach you how to do it. But where we overlap right now, we're sitting at the 127 and the 1414 zone. So, that's a perfect bounce zone, which, you know, we're we got a little bit of a bounce here. But, so what's happening? Is this going to rock down right here and then roll up or is this going to kind of keep keep going up? Either way, I'm still looking for more up right now.

[00:27:24]I believe doesn't mean it has to go up.

[00:27:27]Just I just think it's a strong possibility.

[00:27:34]Okay, look at the 618, the 1618 extension.

[00:27:38]Okay, that's right up here. Notice how that correlates. That 1618 correlates with the bottom of these waves, with the level I marked. Notice how these fibs line up with the levels. It happens all the time. Okay, you got the uh the 2.38 and the 2618. The 2618 is right up here at the top of that wave. So interesting.

[00:28:03]Let me show you another Let me show you some more levels here. Pulling the fibs a different way. We're going to pull from the top of there to the bottom of there. See if I got it. I did. Where do those fibs line up? Notice this is the golden zone. This area of confluence right between my first two levels. Notice the 1618 extension is correlates with the gold top of the golden zone. 85K guys is an important level. 85K. Are we going to reach 85K? I can't tell you. Yes, I think eventually we're going to reach 85K. But are we going there in this wave? I can't tell you that.

[00:28:45]I'll offer some ideas here shortly.

[00:28:54]the 786 retrace correlates with this level that I've I've drawn the tops of these waves. Okay, notice the um Oh, never mind on that last sentence.

[00:29:07]Okay, let's pull let's pull the fibs one more way.

[00:29:11]Let's pull the retrace from the very top.

[00:29:25]Notice that the golden zone retrace of this first wave is at the top right above that wave.

[00:29:37]Guys, none of this is by accident. This is all common uh wave structure.

[00:29:47]So without doing any wave counts, those are the levels and that's what I'm expecting. So price action can really come in to this zone any way it wants to. Now what we do as Elliot waivers is we take those zones and we like okay with those zones marked now what is the wave structure? What's the wave count and is is there any uh anything in the wave that kind of tells us?

[00:30:13]Okay, we look at volume as well. And you'll notice we got a major on this down move. We had a major volume spike.

[00:30:19]This was a major volume node here. So, the fact that we're getting a bounce here makes sense. One of the things I look for to say, okay, u as a wave goes up, does it give the look of being finished? And when I look at this wave right here and I say no, it does not look it does not have the look like it's finished. What does a finished look look like? Well, generally Bitcoin as it's going up, it likes to spike up, okay, straight up. So that's the kind of look I would like to see. I would love for this to spike up here fairly quickly and come take out some liquidity. Then I would say, okay, now we have a a real possibility for a finished three-wave move.

[00:31:12]Okay, let's talk about the wave structure here. How am I reading this?

[00:31:15]That my best guess here, my best guess is that this is an A. Boom. Right there.

[00:31:21]This is B to there. So that's three waves. And then this is C.

[00:31:27]And because C didn't break the origin of A or yeah of where A was. Okay. That means it's a running flat as a B wave or an X-wave. Okay. It's it's a B wave as far as I'm concerned. So that means this is A. All that's B.

[00:31:47]What do we got? We got C. Could C be done? Yes, it could be done. It it it's fulfilled all its requirements. We got fivewave shape.

[00:31:58]One, two, three, four, five.

[00:32:14]So, that's a real possibility.

[00:32:17]Or this five could get extended and it come way up here, which is what I would like to see. I'd like to see a stop hunt.

[00:32:26]um for anybody trying to go short through here. Okay, stop hunt for that and then price to kind of just kind of zoom up here over the next day or two.

[00:32:37]That that that would be ideal for me. I would love that.

[00:32:51]If we get an extended fifth wave now, could it be done? Yes. If it's done, then you have a finished three waves. A, B, C could be done. And now what what's happening?

[00:33:11]We're in the beginning stages of a three-way move to the downside.

[00:33:25]Boom, boom, boom.

[00:33:29]That's what this is. It's beginning to take us down potentially.

[00:33:43]So that's a possibility.

[00:33:46]So that's the bearish look.

[00:33:49]But the title of the video is the expansion uh uh Bitcoin's range uh range expansion. What what to expect, right?

[00:33:59]What does that mean for traders? Well, basically the way price likes to move is is it'll range and then expand that range and then it'll take out those levels. So, it created a range here.

[00:34:13]Now, it's taken out the top. I would expect at some point are the question is are we going to take out this top or come back up into this range before down? But this this range right here, this low is going to get taken out eventually.

[00:34:32]I'm expecting price action to hit this level and to hit this level. Now, I don't know which one's going to happen first because either one could be either one could happen. Price will be revisiting this area and this area. Why?

[00:34:54]Because that's why price moves.

[00:34:58]Okay, it creates a range, it expands that range, and then it takes out that range and it's rinse and repeat on every time frame. I could show you example after example on every time frame. Okay, but there are trapped traders right up in here who were looking to go long in here and they held that and they're still holding, waiting for this to come back up.

[00:35:26]So, they can't release those. They're bringing price back up to any trap traders that are up here. Okay?

[00:35:37]But they can't come and release them fully. So, I imagine they're going to come up here, boom, and you're going to get some fake movement to the downside or it's going to reject so that traders aren't allowed to be released. Otherwise, you might get a small rejection and then another hit very quick.

[00:36:03]That rejection will will discourage anybody trapped because they're excited.

[00:36:08]The way the psychology works for me, whenever I'm trapped is, okay, good.

[00:36:12]Price is coming back to me. And so, if I'm trapped in a position and price is coming back to me, I'm just I'm thinking, okay, yeah, when it gets when price gets to me, I'll I'll close I'll close that out, right?

[00:36:26]And a lot of times it'll just come tag tag a position I was trapped in uh and then and then go. So that psychology of of of of liquidity there, liquidity is made up of of of people that are transacting. And the people that transact on the crypto market, many of them are traders, okay? And they're looking for positions, right? And so um they're like you and me. Well, we're trading. And um you know in the process that the the the price action has to trap you in locals in locations on the chart based upon the price action traps you in your position and if you're not disciplined to to to take a loss then you'll get trapped and you'll you you'll increase your losses. Okay. But nevertheless, there are people who were looking for this to go on up and they were long from this area.

[00:37:21]Well, price went down, took them out fast and it's been threatening up, but it's not been going up straight. It's been going up in a very choppy fashion, very corrective.

[00:37:32]However, however, now they're coming back up to where traders might be trapped. If they're coming back into the zone, chances are those people are not going to be freed. They're not going to be allowed out. They're going to get you're going to get a massive rejection from that zone.

[00:37:52]When that rejection happens, the psychology is, oh crap. And you have you'll do one of two things. You'll continue holding or you'll you'll then take the loss thinking, oh, I missed I messed up. So it it's just it just depends on what psychology is. But that psychology there is creating liquidity and that liquidity is what this chart is is doing. It's going for. So from a liquidity standpoint then from that kind of standpoint I'm expecting price to come in here strongly.

[00:38:27]Okay. And and reject. Now, however, if it breaks into this area, I expect the break into that area will be followed by uh something a little bit more hard rejection to the downside.

[00:38:46]So, if price comes into here, okay, I would expect a harder rejection. Okay, why? Because the trap needs to be set.

[00:38:55]This needs to be building a long trap.

[00:39:01]Okay.

[00:39:04]All right. So, what's going on in here?

[00:39:20]One of two things. One of three things.

[00:39:24]Got a correction. Three-wave correction.

[00:39:26]Going up again.

[00:39:28]It's possible or this is going to continue going up and finish this thing.

[00:39:43]Where is it going to go?

[00:39:47]They could they could take it really fast up to here and reject really fast. reject.

[00:40:00]More likely they're going to come into this zone right here, 88K range, and reject off of that.

[00:40:21]come into the range and reject.

[00:40:27]That rejection can take a million different shapes, which I've talked about a little bit already, but it can be simple or complex.

[00:40:45]That would be three.

[00:40:48]Three. looking for three to the upside.

[00:40:53]In general, I'm bullish with a bearish wave in the middle and I'm cautious in this zone right here that this is coming back down.

[00:41:05]That's the range expansion I'm talking about. All right, I've done all the talking tonight. What say you guys? What are y'all thinking? Are y'all feeling bullish? Feeling bearish? How you feeling? Let me take a little sip here.

[00:41:16]Then we'll do some analysis with Ethereum and XRP.

[00:41:22]We'll look at the silver chart uh in gold and see where they're going.

[00:41:26]And then we'll look at the S&P and then call it a night.

[00:41:40]All right.

[00:41:43]looking at Ethereum.

[00:41:46]Ethereum hasn't got up. Why I'm still bull. One of the reasons I'm still bullish in Bitcoin is because Ethereum hasn't finished and these things always move together. Okay. So, yeah, Ethereum needs to make its way up here.

[00:41:58]Bitcoin's already reached this level, but Ethereum hasn't. I'd like to see Ethereum get up here into these zones, at least to this zone right here. So, looking for a spike, but then I'm looking for rejection after that.

[00:42:18]That's going to be three waves.

[00:42:27]So, looking for Ethereum to pop to the upside. That's the way I'm seeing that.

[00:42:32]Let's zoom out just a little bit.

[00:42:40]That looks really good. That shape right there.

[00:43:14]That looks decent the way I'm reading this wave. Three three five A B See, now let's talk about a bearish count.

[00:43:42]A bearish count says, "Hey, boom, boom."

[00:43:51]Something like that.

[00:44:00]think that's coming before we get an up move. Maybe.

[00:44:06]I don't I don't know though.

[00:44:13]I don't know.

[00:44:16]I just feel like we need to come and and tag this zone at least.

[00:44:21]So, I'd like to see Ethereum hit 2600.

[00:44:24]Let's look at XRP. XRP is a little bit different. The chart's different.

[00:44:31]Notice this breakout line that I've I've drawn here.

[00:44:38]We're threatening a breakout.

[00:44:46]Boom. Three waves and then looking for this to come up.

[00:44:52]up to this zone and then down 4hour chart.

[00:45:18]Really nice 4hour breakout candle there.

[00:45:34]This looks really good.

[00:45:37]I would just like to see this have some follow through. So, is this going to play around in here tonight?

[00:45:46]Very well could.

[00:45:49]So, do we get some bearishness over the next couple of days? Very well could.

[00:45:54]That would reset the RSI.

[00:46:05]So I am bullish again uh in the in the immediate term for XRP, Ethereum, Bitcoin.

[00:46:19]Looking to see a pump up into uh the retrace area to take out the levels they've they previously should have hit.

[00:46:28]And then I'm looking for rejection.

[00:46:32]And that could mean um that rejection really hits this low.

[00:46:51]All right, guys. There's the analysis for XRP. The shape looks really good.

[00:46:56]That's it's my main idea. I'd like to see that play out.

[00:47:00]Is it going to play out? I can't say I can't I can't say with any certainty, but those my main idea from wave structure.

[00:47:09]How we doing? How we doing? All right, let's look at silver. Silver I love. We got a bit of a breakout in silver. Uh breaking some structure here. I like it right there. That's That's a good sign right there. I think we could have a finished three-wave shape. Boom. Boom.

[00:47:27]Boom.

[00:47:29]a little bit of a truncated C or or Ywave, however you want to look at that.

[00:47:33]But that looks done.

[00:47:35]And this this could be.

[00:47:47]So, let's see if we get some follow through. We might get some immediate pullbacks here, but looking for some follow through here to the upside. At the end of the day, guys, on silver, I I'm expecting silver to hit 200 easily. easily.

[00:48:26]Okay, let's take a peek at the S&P chart. S&P is bullish, man. is is just won't stop, will it? S&P is really hard to nail down because you really we don't have a finished wave structure that that's pretty but uh we do have some divergence of course that the divergence here is uh been taken out this local divergence here. Now this is the monthly chart. Let's check the weekly.

[00:49:10]7,000's uh I mean let's see 7,500 is a nice round number. 8,000 is a nice number as well.

[00:49:21]wouldn't put it past an S&P um pump and then a dump, a rejection off of a top coming into the summertime. So things are going to slow down a little bit.

[00:49:43]DXY's got a bit bearish right now.

[00:50:02]All right, looking at uh the DXY.

[00:50:05]This looks like a flat.

[00:50:10]Boom. Local flat.

[00:50:14]Let's come down and take the low.

[00:50:17]take that low, we might get a pump up after that.

[00:50:27]So, if we get a little bit bearish, let all the markets go up and take those highs like we're talking about and then and then the dollar starts pumping again. That would be interesting.

[00:50:52]All right, guys.

[00:50:54]What other charts are we looking at?

[00:51:04]I'm pretty much exhausted my small time frame ideas.

[00:51:19]Guys, thanks for being patient with me last week. Sorry to didn't do Sunday night charts, but I'm back and everything's settling down. So, hopefully next week I can get some coffee and uh just uh and be a little bit more rested and we can we can go uh go again. But there's Sunday Night Charts for you guys. I hope you enjoyed it. Thanks for being here. I'm going to call it a night. I'm pretty tired. My eyes are burning tonight for some reason. and I'm having a hard time. So anyway, thanks for joining me, guys. And uh uh watch out. I'm I'm I'm bullish.

[00:51:46]Jim Jim's still bullish, but looking in this level for a short uh to take place.

[00:51:52]So um I'm I'm looking to take some shorts here soon, but I'm still bullish.

[00:51:56]I'm still in my XRP long for now. And I want to see this uh see if this plays out where I think it's going. I hope you guys have a great one. Take it easy.

[00:52:05]Bye-bye.