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Hello this is Matt on the moon Lambo Channel crypto markets have been Crushing the hopes and dreams of Speculators over the last several days Until today at the time I'm recording This Bitcoin is up almost 5% xrp is up Almost 4% if anyone's curious it is 432 P.m. central Time my time zone on Friday January 26 2024 and so the question is does that Mean that the local bottom is in can we Finally resume uh back on up to uh you Know the 49,000 range get to a new high Finally is is is that the place where we Are or is this just a fake out and we're Going to be a bunch of sad pandas Tomorrow or sometime in the near future Well that's what I want to talk about in This latest Moon Lambo Hot Jam uh I'd Also be sharing with you perspective From an analyst who noted uh right Around the time that uh Bitcoin started Taking off just by coincidence this Morning that um xrp was actually in Oversold territory anyway and it has Burst since then so anyway before going Further though doing 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 anything because of anything I say Or right I'm just an Enthusiast who Enjoy is making YouTube videos about Crypto related topics but just as a
Hobby and just for fun at the moment xrp Is 53.5 cents Bitcoin at 4,954 bucks I'll note the 24hour high For Bitcoin is $ 42,2 41 and it's Started to move to the upside at called About 4:15 a.m. Central Time now of Course it wasn't immediately evident That it was just going to keep running You know we found out eventually after a Couple hours it was clear like okay this Is uh this is potentially something here At least um xrp got his high as 53.6 Cent so it's very close to uh the 24-hour high at the moment now the Crypto fear and green index it doesn't Update for another hour and 26 minutes It updates once every 24 hours so it is Still sitting at 49 out of 100 but I Speculate that number go up what do you Think I just don't know how High 50 Something would it be up to 60 I don't Know I don't enough times passed for That to happen uh but either way I'm Expecting when I report back tomorrow That that number is going to be a bit Higher um and and by the way this is in The face of what was supposed to be I Guess scary news uh look at this Headline from the Crypt basic US Government to auction $120 million in Bitcoin linked linked to Silk Road Forfeitures and this article is from Today but I'll note that the story Actually broke yesterday in fact here
Was onchain analytics guy will M uh Noting the following uh here's just his Personal take on this and I think he's Probably right he said really not that Much referencing of course the $130 Million Figure um really not that much U Market Has been absorbing hundreds of millions In selling a day for the last two weeks LOL and so it's just funny that this News broke yesterday and the very next Day finally the market like okay they Don't even care Market specul don't even Care just moving to the upside here uh There's also this headline uh from the Crypt basic daily active Bitcoin Addresses hit yearly Peak across 1 Million as Bitcoin breaks $41,000 and It's not necessary for me to read this Article I just wanted to note that as of Yesterday that that's what they were Referencing 1.1 million daily active addresses on Bitcoin 1.1 million which is absolutely Massive so it's just interesting to see That level of activity uh same day that We're getting scary news and then the Very next day we get this price pop so What should we be expecting uh well Here's a post from a chart analyst Credible crypto 12:36 p.m. central he Just shared this bitcoin price chart and Wrote the Bears just got deviated out of The market which I thought was kind of
Funny and um and he shared a video Update and if you want all the specifics Uh you know go to his go to his page on X he's got his 6 and half minute video Posted there I don't want to regurgitate A bunch of T ta but I did want to share With you some of the most interesting Takeaways from the video I thought Anyway because you know credible crypto He no longer thinks it's likely that We're going to revisit a low of $38,500 For Bitcoin which is what he thought was Most probable just yesterday but I guess You know with he saw that the move today Just had enough conviction behind it he Doesn't think that's what's most likely And so now uh he thinks that roughly the $42,000 price range may act as at least Slight resistance which actually is what We been seen in recent hours and he says That's because you know that's the level Where bitcoin price dropped Precipitously several days ago and he Speculates that some of the holders that Are in the red will want to sell just to Break even just maybe get the hell out Of the market even and so he thinks you Know as a result we may dip a little bit Lower maybe lower 40,000 somewhere there About uh but uh but he thinks that'll Probably be about it you know he uh he Expects after that short order Relatively speaking that will be seeing A more notable move back up to
$45,000 and shortly after that Continuation to the upside CU he does Still firmly believe we will be seeing a New all-time high for Bitcoin this year So he doesn't think we're going to have That low of $38,500 uh as he was thought Thought yesterday just based on the Activity that has unfolded today but he Does con see that there could be a Little bit of a dip and it's interesting Because um you know the blockchain Backer today he he was talking about uh Crashing structures and how typic when It's played out in a form that looks Similar to this um you you'll know after You get one flush to the downside which You did you'll start to have a move to The upside but it can essentially be a Fake out and then you you you do usually Uh get one more crash to the downside Lower than the most recent low and That's where you get that short-term Capitulation so the blockchain backer Interestingly enough actually thinks um That we more more likely not guar not Guaranteed but more likely than not we Actually are going to be seeing one more Drop to the downside lower than the most Recent local low so we'll see what Happ And it's kind of funny because that's What credible crypto was thinking Yesterday now he thinks it's less likely And now the blockchain backer today Based on this information thinks that it
Is likely so a slight disagreement there It'll be interesting to see how it plays Out but either way both of them are are Thinking uh Regardless you know move to the upside After that just you know typically when You see this type of crashing structure That's just how it Unfolds um then there was also this from Chart analyst wct Capital he shared this Bitcoin price chart with his 39,500 followers on social media Platform X and wrote The Following and This was as of 10:26 A.m. uh Bitcoin great recovery as Anticipated but Bitcoin needs to weekly Close above the $41,600 range low to Rescue the range nothing concrete just Yet as this could technically be a brief Upside deviation back inside the range Inter interesting weekend ahead yeah so A couple more days to the close and We'll see where we end up hitting um Then there's also this from a chart Analyst dark Defender sharing some Perspective about xrp okay and so Earlier in the video I noted that Bitcoin started to rise roughly around 4:15 a.m. Central Time this post from Dark Defender is about a half hour later At 4:44 a.m. and so although it is the Case that Bitcoin was already starting To move up it wasn't clear that it was Going to be some sort of notable break
At that point it just happens to be the Case this is about when he was posting This and so he shared this xrp price Chart and dark Defender wrote to the Following uh xrp in the daily time frame Is between 52 cents roughly and 46 cents Roughly I'm just kind of using a round Number there and just in the oversold Area on the daily RSI indicator Previously these levels were at the Bottom for reversals which are Highlighted in green and folks isn't the Timing so it's just it's funny like he's Saying oversold area typically good area For reversals and then fine who knows What it is by the time you're watching This video I'm not pretending to know For sure but at least to this point you Know 12 hours later roughly it's been Moving to the upside and a little bit Sideways in recent hours but uh that Actually could have been the bottom and That's what he was saying so anyway just Interesting the timing of it and then he Says we discussed the 3-day Rule and Today is the third day so it is time for The ret test of the Fibonacci level at 52 cents today and tomorrow if it can't Break the 46 Cent uh level uh should be Considered let's expect xrp to break This level in the daily we will check Weekly and monthly time frames over the Weekend thank you so how about that and And again you know like like I've said
Though whatever Bitcoin does anyway the Market generally speaking is going to Follow so analysts have been warning in Recent days that you could see like 33 Cent xrp or 28 Cent xrp I've seen all Sorts of warnings like that but it would Be almost unfathomable for something Like that to unfold if it weren't Because Bitcoin were horrendously Tanking first so now that bitcoin's been Moving to the upside should it persist I'd be very surprised if if xrp on its Own just keeps going to the downside Because pretty much the whole Market has Been moving to the upside I mean here's Live coin watch if you look at the right Here it's just a sea of green right like Everything's up you know withed Exception so it'll be interesting to see How things unfold here but um just don't Be surprised if we do get one final Break to the downside whether it's above 40,000 or it dips into the 308 or 39,000 Range that doesn't mean it's mean it's The end of the world and neither Credible crypto or the blockchain backer Or the dark defender or Rec Capital Think that this is going to be some sort Of indication that we're moving to the Downside in fact yes you can find Analysts that think okay Bitcoin still Even at this point is likely to go into The lower 30,000 or even the upper 20,000 but those analysts are few and
Far between those don't seem to be the Most widely held perspectives which is Why frankly even though I I'll mention Them here casually but I didn't even Feel like pulling them up for the Purpose of highlighting for this latest Moon Lambo Hot jam it could happen I Mean fine look even even credible crypto A couple days or so ago he said okay in Theory yeah maybe Bitcoin could go to $34,000 but he said he didn't think that Was remotely probable like that would Really have caught credible crypto off Guard and so let's hope that's the case I would love to resume move to the Upside rather than this being some sort Of fake out but even if it's a quote Unquote fake out probably just for the Short term it doesn't mean that Everything is going to stop moving up You know permanently or anything like That anything or even for the midterm Right I'm not a financial adviser you Should not buy yourself anything because Of anything I say or right that would be A very very very bad idea until next Time to the Lambo
