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Hello this is Matt on the moon Lambo Channel at the time I'm recording this Video it is 11:54 p.m. central Time Friday April 19th 2024 and so the Bitcoin having occurred About 4 and a half hours ago and um you May have noticed if you looked at the Price that nothing has happened nothing At all now of course um people making Arguments that the Bitcoin is going to Be this big thing they'll talk about What's going to happen in the coming Days and weeks but as it as it pertains To the supply and demand Dynamics it's a Big nothing I I I and I went into a fair About a fair amount of length in a video Yesterday explaining why so I don't want To write here right now but I just Thought I'd mention it since yes the the Having has occurred it doesn't matter It's a tiny percentage you know the Amount of new Bitcoin that comes out of The bitcoin's mining Bitcoin being mined It's a tiny percentage of overall volume Most of the the Bitcoin that people are Going to buy and sell it's already out There it just doesn't matter so cut that Already small bit in half it doesn't Matter matter it really doesn't but I Will tell you this in terms of what's Happening now and what we can expect Well uh just to be clear xrp is not Joking around and let me give you a Friendly reminder about how xrp has been
Performing that a lot of people seem to Forget xrp has been in an uptrend for About two years at this point ever since It hit its low in June of 20122 at 28 cents it has been trending Up higher lows You know it just it's a matter of fact So I understand you look at the xrp BTC Pair and it looks abysmal and I'll say Again as I've been speaking talking About this a lot in recent weeks uh yeah Looks abysmal that's not because xrp Hasn't been trending upward it's because Bitcoin has been Outperforming which historically is Normal and we should expect that and Then xrp catches up that's just how Things go that's why this is all Fant Fantastic so to think that xrp is not Going to participate this bull run is Complete utter nonsense it has been Participating it's doing what exactly What it should do it's just that the Face melt portion hasn't come yet but It's going to now that being said we do Need to talk about what might be Happening in the short term uh there are A couple analysts that are warning that It is possible that xrp could tank a bit More to the downside against the dollar Um now I you know I suppose if that Occurs in fun you know when it comes to Crypto unless something's in complete Looney Tunes land I try and never Say
Never so it could happen but I have a Suspicion that if that happens it means That bitcoin's going a fair bit lower if That occurs so we'll talk about that too Because Bitcoin leads the way so even if You don't hold Bitcoin and you don't Really care about it on some sort of uh Intimate level if you will I understand But you should be interested in what is Happening to it purely because it leads The market but uh before going further I Do want to be clear I do not have a Financial background of any kind I am Not offering Financial advice and you Definitely should not buy or sell any Anything because of anything I say or Right I'm just an Enthusiast who enjoys Making YouTube videos about crypto Related topics but just as a hobby and Just for fun as I record this video Xrp's 51 cents Bitcoin at 64,9 bucks and so here's a 24-hour of Bitcoin chart uh you can see where it Started ramping up about what what would We say about 1:25 a.m. in the morning so A little bit less than 24 hours ago um Fascinating to see that after it Actually hit a a low a little bit before That of in the upper 59,000 and that was uh after the news Broke of uh you know the the World War II nonsense if you will um it's not like It's not like it's like it literally was Set off right in that moment um but that
Was trending on social media so on and So forth and so there was this narrative While of course these risk on assets are Going to move to the downside but really Markets just got briefly spooked and Then there was a pop back up to the Upside bitcoin's mostly been moving Sideways xrp's been mostly moving Sideways but actually a little bit up Here's a 24-hour xrp chart uh with Against the United States dollar not the Worst thing crypto feur and green index 66 out of 100 so Market is in greed Right now despite all of that stuff and So I'll just tell you when it comes to Those types of narratives I just don't Buy into them I don't think it matters Uh pretty much not at all other than That very short-term move when the news Broke and yeah Bitcoin moved down but so That was very Shortlived uh I shared this post cuz all Sorts of people celebrating The Bitcoin having like it's some sort Of miraculous day it should be a National holiday right so I simply wrote Too many Bitcoin having cheers ba Humbug exactly I'm like I'm like your Bitcoin Scrooge Basically now as far as what Bitcoin is Doing that I care about that I'm Interested in here's CH analyst jelly Shared the following this afternoon new Local highs flipped previous local highs
Into support and back above 4our 50 RSI Level Higher and so his expectation is that What we should expect moving forward is Not more lows but moving to the upside Chart analyst Matthew Highland I believe Concurs he shared this post this evening Just a little over an hour ago 10:43 P.m. he said Bitcoin this pullback still Fits the standard correction we have Seen since the start of the uptrend Every pullback majority have expected a 30% pullback however it has not happened Consolidation in an uptrend favors a Continuation uptrend also favors 20% Dips as Max pain based on the past year Plus this structure has resulted in a Continuation up just from a numbers Standpoint it currently favors a Continuation up yeah so it is it is Interesting that from cycle to cycle the Size on average of the dips that we've Gotten from Bitcoin they've become Diminished although it's also fair to State that over time the volatility of Bitcoin has become diminished as you Would as you would expect of course as Uh as more participants come into any Space you should expect that and that's Why eventually if if crypto and Bitcoin Brought are truly broadly adopted it's Not going to be a very volatile asset Class when it's mature it's going to be Very boring so we're very fortunate that
We get to be here while the volatility Is here because volatility is the Purpose of investing if there's no Volatility and everything just moves Sideways what the hell are we even doing Here and so this is the most volatile Asset class on the planet I I I Understand that scares people I wouldn't Be like I wouldn't be this thrilled About it running a YouTube channel about All this if that weren't the case and Nobody would want to listen anyway if That weren't the case you know I I just It is what it Is and and I'm here for it um here's What chart analyst credible crypto had To say morning folks quick update on Bitcoin price action that has developed Overnight since my update below momentum Stalled overnight leaving us with a Three-legged move thus far instead of a Clean five-wave impulse This doesn't mean we can't go higher in Fact I think we will still grind up but It does mean we have to air on the side Of caution if SL when we reach our range Highs we'll keep monitoring developing Price action and update as needed so Just a little bit of caution there I do Seem to I have noticed that many Analysts are expecting that there is Going to be a move to the upside more Seem to think that than to the downside But um there's not incredibly bullish
Conviction across the board on this and You can kind of see that that even in What credible crypto is uh is saying There's there's a lot of people speaking Along those lines saying hey we're range Bound let's see what happens I saw a lot Of that too so just take it for what It's worth uh there is a reasonable Chance that we could go up and down and You'll note that and sometimes and this Is where people make fun of Charis they They they'll listen to the analysis and Say so you're saying we could go up or We could go down O but there are times when it's much More clear and so in times where it's Much more clear and I see tons of Analysts screen the same thing I take Note of that and I share that with you Uh one such such instance happened a few Days ago when I said hey I just seeing a Ton of analysts are warning we might get A drop to the downside and right after That once you know we got a got two days In a row of major moves to the upside uh Greatest liquidation event in fact in Crypto history we just saw that Unfold um then there was also this from Chart analyst Ellie Martinez and this is Fascinating this is just something that Shows guys the Euphoria the blowoff top Hasn't happened and I know a couple Months ago I even saw people who weren't Confident that you know Bitcoin was
Going to be hitting a new all-time high Saying this looks like Euphoria to me And I just respectfully disagreed Because I was like I I see excitement Here but I was noting how few days we'd Spent an extreme greed on the crypto Fear and greed index uh participation uh Active users on coinbase I mean pick Aetric I went through the whole list at The time and I made my case as so I was Like I don't think this is the blowoff Top and and back then I was I was Leaning to the side of we're probably Going to see a new Bitcoin alltime high It's I spoke about why at the time and So this chart here just kind of Indicates and it's a fun colorcoded Chart we've not seen the Euphoria yet And if we don't this would be the first Time in history for this cycle so it's Coming folks we just need to be patient Uh I'm going to continue to do Absolutely nothing after I purchase Crypto I just do nothing that's it and Um and this been working pretty well for Over six years now but here's what uh Chart analyst Al Martinez said each Bitcoin bull cycle goes through a Euphoric phase signaling a market top Bitcoin has yet to see that Euphoria in The current cycle yep exactly tons of Metrics were indicating that it wasn't Euphoria it was a ton of excitement in January and you know early part of
February maybe it was uh remember Talking about it didn't look like crazy Euphoria to me it just Didn't the met there are so many metrics That you can look at that have nothing To do with technical analysis to say Well this is this would be a first then You know including people searching for Bitcoin like that that was that was Barely barely a blip on the radar you Know there's nothing There um here's a post from Mikey bu Crypto said altcoins market cap will Experience an explosive run in Bitcoin Post having we are still early given That it is currently in phase one of the Bull run after breaking out of long Range accumulation and so just one more Indication yes indeed The Best Is Yet To Come and yes xrp will be a part of it Xrp is not joking around look at at the Data look look at all you don't have to Be a chart guy I'm not a chart guy you Don't have to be a chart guy to Understand this what has xrp been doing For two years yet we still have people Claiming that xrp is just it's it's just It's doing something weird or it's doing Something bad it's doing these are Indications historically that it goes Here no they're not in fact you never See him word it like that they just Point all the stuff that on the surface If you don't know any better it looks
Bad like the xrp BTC pair but they don't Say from a historical perspective this Looks bad because that would literally Be the opposite of what is true there Just being there a lot of people that Are just intellectually dishonest Because they have xrp derangement Syndrome that's what it Is uh here's a warning from chart Analyst EG Greg crypto with a bit of Optimism totally fair and here he wrote Xrp fake out or no fake Out and this isn't just a xrp price Chart USD seems like a potential fake out with The next destination likely between $120 To $1.50 Xrp Army stay steady xrp is the real Deal and the only digital asset with Clear legal and Regulatory Clarity and So for those of you not looking on the Screen when he says uh looks like a fake Out that does warn that we the fake out Zone at the bottom you know closer to 42 Cents but what he's saying is because I Understand it would be outside of this Channel that he's he's drawn here if That's the case okay fine that'll scare The hell out of some people but Instances like that do occur you know we And we do see historically some Wicks to The downside but Again the idea that xrp is not going to Participate in this market cycle is
Laughable to me and so I I suspect in a Broad sense he's right even though I Don't make price predictions if he's Talking about that type of range that Certainly doesn't seem crazy to me even As a starting point you know now love Crypto he's sharing a similar Warning um so just to kind of remind you Of what he had said in recent days on April 8th he wrote The Following then I'll share with you his most recent Stuff but on April 8th he was talking About Xrp and we actually started uh Purchasing dollar cost averaging back in And he said xrp the time to load up on My first major spot position in several Years is upon us plan is to dollar cost Average into my position once my blue Support line is hit expect it to be this Month of April best risk reward setup in My opinion now the chart he shared was Xrp BTC and shortly after that um xrp Did take a hit you know another dip to The downside but you can't for sure Where a bottom is so that's not some Sort of knock against Leb crypto you Can't know that it's just about Understanding roughly where we are in in This Environment and so he he wrote on April 9th been dollar cost averaging since Yesterday into my spot if Bitcoin holds $68,000 an xrp bull rally is upon us at
Least until the having so the next 10 Days I don't see this as the rally Though just a sweet short-term 100 to 200% pump um so again note that he said That would be if Bitcoin holds that Level uh Bitcoin as you know did not Hold that level and so on April 13th he Wrote Bitcoin couldn't hold $68,000 hence weakness Confirmed pump delayed then until my Line gets hit alts looking very weak Across the board yeah and and we know That what's happened over the last you Know week or so alts have really taken It in the shorts they absolutely um xrp Just everything everything getting hit Tremendously hard uh but that doesn't Change anything about the the big Picture what's going to happen as the as We finally reach the Euphoria stage of This Market cycle and so then we get to This post uh this is from April 16th just several days Ago he said um my major xrp BTC level is Now hit adding more here xrp and he Shared another xrp BTC chart and so as It gets as it you know on the surface What would look for it to be be worse He's like this is a track now because He's not an idiot you know the people That say oh this well it's been bad for This long Turing downward it'll just do That forever I guess it goes to zero Those are idiots those are act or they
Liars you know maybe it's a little Commum a a little commum B you know what I'm saying and then Leb crypto said this Does not mean whatsoever that xrp cannot Decline further in price what it only Means is that the risk reward now is Much more uh much much more favorable to Enter a spot position than anytime since First quarter 2021 see he gets it that is exactly true And I understand it's a higher price Than the bottom against the United States dollar but he's talking about the The BTC pair and where we are at this Exact moment and his expectations of When things are going to pop I get what He's saying absolutely somebody named Crypto fan wrote to him and said xrp Has Broken a very significant level of Support don't you think more downside Will come let crypto responded yep Further downside is likely in my opinion Especially as Bitcoin Corrects however good to be dollar cost Averaging into spot uh from now from a Risk reward perspective I like 38 Cent Level a lot in plan to add with size There if presented and so you know he's Not being some sort of fudster bear guy He's Pro xrp and he's been purchasing He's just warning hey might go down to 38 cents and if it does he's saying that Would look incredible to him now of Course if that happens my guess would be
That Bitcoin would have to the downside And a bunch of alts including xrp would Continue to move to the downside not a Guarantee it's going to happen but just Thought I'd put it out there a little Little warning just in case but even if It happens you know that short-term Price action is not some sort of Indication in and of itself as to Whether or not xrp is going to hit a new All-time high or go to zero it's neither Of those things that in and of itself is Not but one of those things is going to Happen xrp is going to go to zero or It's going to hit a new alltime high it Cannot it will not stay here forever and I'm going to hold on to xrp until I find Out which it is and you know what I'm Betting on for Sure I'm not a financial adviser you Should not buy or sell anything because Of anything I say or right that would be A very very very bad idea until next Time to the Moon Lambo
