ON THE CUSP OF TIME as Bitcoin Price Chart and Altcoin Market Cycle Decision, Necessary Ingredients

Summary

In this video, the host of Blockchain Backer discusses the current state of the cryptocurrency market, comparing it to historical cycles and analyzing Bitcoin and altcoin price charts. They highlight the market's volatility, the potential for a bullish breakout, and the importance of broader market participation. The host emphasizes the need for a 'risk-on' environment and the Russell 2000 index's role as a leading indicator, while noting the similarities and differences between past and present market dynamics.

Takeaways

• 📈 The speaker discusses the current state of the cryptocurrency market, focusing on the Bitcoin price chart and the altcoin market, in the context of Cycle Theory and historical volatility.
• 📊 A comparison is made between the recent volatility spikes and crashes in the cryptocurrency market to significant financial events like the COVID-19 pandemic and the great financial crisis.
• 📉 The script highlights the unusually long period of market inactivity, with a specific focus on the time elapsed since the peak of the 2018 bull run, which is close to the longest duration in history.
• 🔍 The analysis includes a detailed look at the historical performance of XRP and Litecoin, comparing their past market cycles to the current situation.
• 🚀 The speaker anticipates a potential breakout in the market, similar to past cycles, but notes the absence of a 'risk-on' environment in broader markets, which has historically preceded such breakouts.
• 🤔 There is an emphasis on the psychological impact of the prolonged market inactivity on investors, suggesting that the feeling of the market 'dragging on' is justified by historical context.
• 📅 The script points out specific dates and time frames that are historically significant for the cryptocurrency market, suggesting that the market is approaching a critical juncture.
• 💡 The importance of the Russell 2000 stock market index as a leading indicator in past bull runs is discussed, with the current lack of a similar signal noted as a missing element.
• 📉 The speaker discusses the concept of 'capitulation' in the market, referring to a period of extreme selling pressure, and its historical timing in relation to market turnarounds.
• 📝 The script provides a detailed analysis of various technical indicators and market signals, suggesting that many signs point towards an imminent positive resolution for the market.
• 🌐 The final takeaway is a message of hope and optimism, tempered with an acknowledgment of the missing macroeconomic expansion signal, and an encouragement to stay informed and vigilant.

Q & A

What is the main topic of the video script?

The main topic of the video script is an analysis of the cryptocurrency market, focusing on the Bitcoin price chart, altcoin market, and the potential for a market breakout based on Cycle Theory.

What significant event in the cryptocurrency market is mentioned in relation to the volatility spikes?

The significant event mentioned is the volatility spikes that matched those of COVID-19 and the great financial crisis, followed by the biggest volatility crash in history.

What is the historical comparison made for the cryptocurrency market's current duration in the cycle?

The comparison made is to the duration of the market cycle from late 2013 to 2017 for XRP, which was 1,220 days, and the current market's duration since the peak in 2018, which is close to the same number of days.

What does the speaker suggest about the current state of the cryptocurrency market in relation to historical cycles?

The speaker suggests that the cryptocurrency market is nearing the longest duration it has ever been in a cycle without a significant breakout, which could indicate an imminent change.

What is the significance of the Russell 2000 stock market in the context of the cryptocurrency market's breakout?

The Russell 2000 stock market has historically been a leading indicator of a breakout in the cryptocurrency market, but currently, it is not showing the same signs of expansion that would typically precede a breakout.

What is the speaker's view on the current sentiment in the cryptocurrency market?

The speaker acknowledges that the sentiment in the cryptocurrency market is challenging due to the prolonged period without a significant breakout, but also provides hope that the market is on the cusp of a positive resolution.

What role does the US dollar play in the cryptocurrency market according to the script?

The script suggests that a weakening US dollar has historically been a positive factor for the cryptocurrency market, as it often leads to an increase in the value of cryptocurrencies.

What is the significance of the dates mentioned in the script for the cryptocurrency market?

The dates mentioned are significant because they mark potential turning points in the cryptocurrency market cycle, with September 2nd and August 27th being highlighted as key dates for potential breakouts.

What does the speaker mean by 'risk-on environment' in the context of broader markets?

A 'risk-on environment' refers to a market condition where investors are willing to take on more risk, typically investing in assets that are expected to perform well, such as stocks and cryptocurrencies.

What is the speaker's approach to providing analysis in the video?

The speaker's approach is to provide a balanced view by highlighting both the positive signs in the cryptocurrency market and the missing elements, such as the broader market expansion, that would typically accompany a breakout.

What resources does the speaker mention for further learning about the cryptocurrency market?

The speaker mentions the Blockchain Backer website and newsletter as resources for further learning, including detailed analysis, historical behavior of the cryptocurrency market, and technical setup instructions.

Outlines

00:00

📈 Crypto Market Analysis and Cycle Theory

The speaker begins by introducing the video, focusing on cryptocurrency news and analysis, specifically the Bitcoin price chart and altcoin market. They discuss the potential validation of Cycle Theory, referencing the recent volatility spike and crash, comparing it to historical financial events. The speaker provides a time perspective analysis, noting the duration of the current market phase and its similarity to past cycles, particularly pointing out the comparison between XRP's performance from 2013 to 2017 and the current market situation. They also mention the recovery of major stock indices and the anticipation of a market breakout, emphasizing the psychological impact of the prolonged market phase on investors.

05:01

📊 Comparing Historical Market Cycles and Current Situation

The speaker delves into a detailed comparison of historical market cycles, highlighting the duration and patterns of past bull runs and the current market's resemblance to those periods. They discuss the timing of market capitulation and the subsequent recovery, using examples such as Litecoin and XRP to illustrate the potential for a market breakout. The speaker also addresses the absence of a 'risk-on' environment in broader markets, which historically has been a precursor to a bullish shift in the cryptocurrency market. They emphasize the importance of the Russell 2000 stock market index as a leading indicator in previous bull runs and express the current challenge due to its lack of movement.

10:01

🤔 The Missing Element in the Current Market Cycle

This paragraph discusses the missing element in the current market cycle: the broader market expansion that typically accompanies a cryptocurrency market breakout. The speaker reflects on the past bull runs and how they were marked by a 'risk-on' environment in broader markets, which is currently absent. They also touch upon the concept of 'spring phase' and 'last point of support' in market dynamics, suggesting that the market is at a critical juncture. The speaker acknowledges the difficulty in predicting the market's next move due to the lack of a clear leading indicator from broader markets.

15:01

🚀 Anticipating a Market Breakout Amidst Uncertainty

The speaker expresses hope and optimism for an imminent market breakout, despite the current lack of a 'risk-on' environment in broader markets. They highlight the similarities between the current market conditions and those preceding past bull runs, suggesting that the market is on the cusp of a significant change. The speaker also addresses the psychological impact on investors from the prolonged market phase, drawing parallels to historical market behaviors and emphasizing the potential for a positive resolution.

20:03

🌐 The Importance of Broad Market Participation in Cryptocurrency Market Growth

In the final paragraph, the speaker underscores the importance of broad market participation for the growth of the cryptocurrency market. They discuss the historical correlation between the performance of broader markets and the cryptocurrency market, noting the absence of this factor in the current cycle. The speaker also provides specific dates and cycle days that could be pivotal for the market's direction, suggesting that the coming weeks will be crucial. They conclude by reiterating the need to monitor the US dollar's performance and the potential for a 'risk-on' environment to emerge, which could trigger the anticipated market breakout.

Keywords

💡Blockchain

Blockchain is a decentralized, distributed ledger that records transactions across multiple computers in a secure and verifiable manner without the need for a central authority. In the context of the video, blockchain is the underlying technology for cryptocurrencies, which is the main topic of discussion. The script mentions 'the blockchain backer,' indicating the speaker's focus on supporting and analyzing blockchain-based assets.

💡Bitcoin

Bitcoin is the first and most well-known cryptocurrency, often serving as a benchmark for the entire cryptocurrency market. The video discusses Bitcoin's price chart and its historical price movements, particularly in relation to market cycles and volatility spikes, illustrating its significance as a leading indicator within the cryptocurrency space.

💡Altcoin

Altcoins are alternative cryptocurrencies to Bitcoin, and they represent a diverse range of digital assets with various use cases and technologies. The script refers to the altcoin market and its behavior in comparison to Bitcoin, highlighting the importance of understanding the dynamics of the broader cryptocurrency ecosystem beyond just Bitcoin.

💡Cycle Theory

Cycle Theory in the context of financial markets suggests that patterns of market activity tend to repeat over time, forming cycles. The video discusses the potential for Cycle Theory to prove itself in the current cryptocurrency market, drawing parallels to historical market cycles and the timing of market breakouts.

💡Volatility

Volatility refers to the degree of variation of a trading price series over time. The script describes significant volatility spikes and crashes in the cryptocurrency market, emphasizing the high-risk, high-reward nature of cryptocurrency investments and the importance of understanding these fluctuations for market analysis.

💡Dow Jones

The Dow Jones Industrial Average is a stock market index that measures the stock performance of 30 large companies listed on stock exchanges in the United States. The video mentions the Dow Jones in the context of a bounce back, indicating a recovery in the traditional stock market, which is relevant for understanding broader market sentiment and its potential impact on cryptocurrencies.

💡NASDAQ

The NASDAQ is a major stock exchange that focuses on technology companies and is known for its tech-heavy composition. The script discusses the NASDAQ's performance in relation to Bitcoin and the broader market, suggesting a correlation between the performance of technology stocks and the cryptocurrency market.

💡Capitulation

In financial markets, capitulation refers to a point where investors give up and sell their holdings due to a prolonged downtrend or market decline. The video script talks about market capitulation in the context of the cryptocurrency market, indicating a period of significant selling pressure that precedes a potential market turnaround.

💡Risk-On Environment

A risk-on environment is a market condition where investors are willing to take on more risk, often investing in higher-yielding assets. The video discusses the lack of a risk-on environment in the broader markets as a missing factor for the cryptocurrency market's potential breakout, suggesting that a shift in investor sentiment could be a catalyst for market movement.

💡Russell 2000

The Russell 2000 is an index that represents the performance of the small-cap segment of the U.S. equity markets. The script highlights the Russell 2000's historical role as a leading indicator for market movements and its current lack of breakout, which is a missing element for a broader market risk-on sentiment that could positively influence the cryptocurrency market.

💡Macroeconomic

Macroeconomic refers to the branch of economics that studies an economy as a whole, including aggregate indicators like GDP and unemployment rates. The video mentions the absence of a macroeconomic breadth and expansion in broader markets, which is a missing piece for the cryptocurrency market's potential upswing, indicating the importance of macroeconomic factors in influencing market trends.

Highlights

Analysis of the Bitcoin price chart and altcoin market in the context of Cycle Theory.

Comparison of current market volatility with historical spikes and crashes, including the unprecedented volatility crash seen recently.

Discussion on the Dow Jones, S&P 500, and NASDAQ's bounce back and their relation to Bitcoin's 50-day moving average.

Historical cycle analysis showing the time taken for the cryptocurrency market to break out, with a focus on XRP and Litecoin.

Mental struggle of investors due to the prolonged market inactivity and its comparison with historical durations.

The longest periods of inactivity in the market without action and the psychological impact on investors.

Historical context of capitulation and market reactions, including the influence of external events like COVID-19 and Wall Street Bets.

Potential market breakout timing based on historical patterns and the current proximity to these patterns.

The significance of the Russell 2000 stock market's role in leading indicator patterns for cryptocurrency market movements.

Current absence of a risk-on environment in broader markets as a missing element for market breakout.

Detailed comparison of past bull runs and the role of the Russell 2000 in signaling market direction.

The challenge of market analysis without a clear macroeconomic lead from broader markets.

The potential for a simultaneous breakout in both the Russell 2000 and cryptocurrency markets based on recent history.

The importance of watching the US dollar and its impact on the cryptocurrency market.

The upcoming weeks as a critical period for the cryptocurrency market, with potential triggers for significant movement.

The need for a macroeconomic risk-on environment to complement the current state of the cryptocurrency market.

Final thoughts on the potential for a positive resolution of the current market situation, with a focus on historical patterns and Cycle Theory.

Transcripts

[Music]

hey what's going on everybody this is

the blockchain backer bringing you the

latest cryptocurrency news and Analysis

today we're going to be taking a look at

the Bitcoin price chart along with the

altcoin market as we enter into a new

week one step Clos to whether or not

Cycle Theory is going to prove itself to

be true coming off of two weeks ago

having one of the biggest volatility

spikes in history matching that of c19

and the great financial crisis followed

by the biggest volatility crash in

history with the vix all the way back

below 16 again never before seen to see

that big of a volatility crash before

with the Dow Jones having a decent size

bounce back last week along with the S&P

500 and the NASDAQ as we talked about

with the NASDAQ hitting its 50 we moving

average along with Bitcoin but as the

clock continues to tick we inch closer

and closer to how much time it took for

the market to finally break out from

historical cycles for the cryptocurrency

market so we're going to look at that

today we're going to kind of put things

into context on how long we have

actually been in here and if you're

mentally kind of struggling with this is

taking forever you probably have good

reason to feel that way and you'll just

see that from the time perspectives for

example with xrp from late 2013

till

2017 just that rip right there was

1,220 days from the peak that was set

back there on April 14th we're sitting

right now pretty darn close to that just

napkin drawing there same amount of days

have elapsed now for the class of 2018

through

2021 here's a picture for you for how

long we've been in here you just go from

the peak back there in 2018 to where the

peak came in there on April 14th that

whole time between Peak to Peak was

1,198 days so imagine the peak of the

bull run the excitement in 2017 and 2018

we go through all the horrible

capitulation we go through c19 we go

through the and then we go through Wall

Street bets laser eyes Diamond hands

Elon Musk on Saturday Night Live all

that stuff that's that had already all

happened by the time this much time had

elapsed compared to what we've dealt

with right in here now the thing about

xrp is it did top a little bit earlier

than a lot of other things did xrp

topped there in April 14th where most

assets topped over there in May

particularly around May 8th you look at

things like Litecoin in here from back

in 2014 through 2017 compared to now

just seeing how much time elapsed in

there you're pretty close but you're not

all the way there just yet but as you

can see back there in

20156 and 17 certainly a very rough ride

and then eventually broke out there

which an equivalent for now would be

about September 8th so if it feels like

it's just going on and on and on that's

because we're really matching the

longest periods we've ever had to go

through in this market without any

action arriving it's not to say it's

unusual but if you're looking at it from

like the context of what 2018 through

20121 was like you certainly had already

been relieved by now all the feelings of

the bear had worn off the excitement had

arrived and everybody was holding hands

singing Kumbaya however compared to the

longest one we've ever experienced we're

still a few days short and if you look

at it in context of being like where was

actual capitulation of this Market still

like we've talked about a lot late

August which surprise surprise is in the

next week week and a half now of course

when all of this was happening here what

was going on with Bitcoin well we can go

back and look at that time and clearly

see see where we were with Bitcoin

sitting all throughout here right there

as it began to take off well what do you

know that's the thing we keep talking

about on how much time we've spent in

here so we're pushing the boundaries at

this point of how far anybody's ever

been pushed in this market before and of

course the thing that was difficult

about that time back in 2015 through

2017 the capitulation going here I mean

you can just take this thing off of log

scale and see that's what Litecoin

looked like I'll take it off that there

you go that's Litecoin right oh this

Market's dead it's over and then

suddenly it just wakes up and goes that

story of course was very similar for xrp

as well just long duration stuff and

then finally Up and Away it went add

Litecoin on top of it same story it all

really happens right in here no real

warning they both just kind of wake up

at the same time and get going but the

moment leading up to that certainly

didn't feel like that on either of these

assets especially when you take them off

of log scale to see them like that and

then suddenly boom they both just wake

up and go but of course by that time

Bitcoin had already marched all the way

back up to the highs going through the

prolonged bear the climb back to the

all-time high this big fall similar to

like what we were talking about back

over here with how bitcoin's price

action has been relatable to what

happened during that time after I

completed super cycle I put out a video

about that last week essentially you got

into here and this is where all that

price action for the altcoin market

really started to kick off starting from

no warning to suddenly just being turned

on but as we approach that time and we

say man we're kind of entering into that

window right now and like we showed

there with Litecoin and xrp like next

week and a half you reach this time

period where you're' in the longest time

period ever you got structures looking

good price action looking good you got

Bitcoin back up there near the highs

like it should you've got time ticking

you're like right there on the edge and

you say hey I know we've been pushed the

longest ever but you know we're right

there but the thing that is still just

completely missing that still is just

this giant head scratcher is that

Russell 2000 stock market historically

getting that exit to shoot its way out

in which if we were looking at it

through this lens being like oh yeah for

sure the Russell's out we're expanding

the breadth is wide open throughout all

markets right now just like 2017 just

like 2020 we'd all be looking at this

saying oh yeah we're good but of course

this time we're just not now the thing

about 2020 and 2021 is they were pretty

closely time to each other maybe that's

the case maybe there's got to be some

surprise that happens in the Russell

they've got to happen at the same time

still the Russell had even broken into a

new all-time high before Bitcoin ever

touched its all-time high then over

there in 2016 and 17 the Russell ended

up beating out Bitcoin by quite a big

margin a couple of months and over there

in 2011 through 2013 the Russell also

beat Bitcoin by about a month so

remember the 2013 the 2017 the 2021 bull

runs they're all marked by the Russell

escaping then Bitcoin escaping and going

off into its bull run as well and so as

we approach this time and we're like

right there at that window it's all this

fingernail biting because it would be

very nice to just sit here and say hey

look the Russell's out well the clock is

ticking we're right there uh but this is

our glaring thing still in our face and

I know you're all sick of hearing that

but I would say that 80% of my time is

that I'm spending thinking about the

actual Market maret it's sit here

thinking about this Dynamic and how this

can resolve itself and I think that's

the thing that makes it more challenging

than it actually was when you look back

here on 2017 or you look back at 2020

that we definitely had this risk on

environment happening in broader markets

at the exact same time and I do believe

that is why we saw so many things get

pulled back after hitting the

retracement levels like ethereum salana

and Tron including the altcoin market

cap which hits at 702 retracement but we

haven't reached that exit velocity in

the market yet because we haven't had

that risk oncome yet and I think that is

what really makes it so difficult just

for everybody in general is that have we

been in environments where it's taken

this long before the answer is yes it it

took this long back in 2014 through 2017

and the thing that made it challenging

back then is that really everything just

looked dead until finally it all woke up

so we all kind of know in the back of

our head the market can do that it can

punish punish punish punish punish and

then eventually wake up and so we know

that we're like kind of in that

environment with how this Market has

reacted so far which makes it incredibly

challenging but the thing that of course

makes it even more challenging and even

harder knowing that is that we just

don't have the macro picture at the same

time and that's what makes it the

hardest you are literally right there

which is literally right there from

2017 like we saw even with Litecoin 7 8

days away from the longest ever and it's

kind of requiring a hanging of the Hat

on the idea that something's going to

show up because right now you don't have

that leading indicator that we've had in

the past which is breett expansion

broader markets Russell 2000 we just

don't have that and that Element of

Surprise needs to just kind of show up

when it's supposed to show up as we talk

about often with magical unicorn fairy

dust or Puppet Masters pulling the

puppet string SC or simulation that

things will happen when they're supposed

to happen that it's kind of depending on

that actually happening and like when we

look throughout the market like we've

talked a lot about like the safety trade

dominance and that it's done all the

same things Bitcoin dominance did from

back in 2018 through 2020 every little

step in here is all through here that we

had back then in that period before

things really kicked off and got going

let alone that safety trade dominance

what going back to the 702 retracement

then slamming it a second time that's

exactly what it did back in

2019 and 2020 is that it slams into

these things two times just as we have

over here so like this signals were like

right on the cusp of it the Bitcoin

price chart signals were right on the

cusp of it and the alt coins would be

right on the cusp of it and it's not on

unusual to just sit there and just

Teeter for this long after capitulation

so has it been tough to be in here this

long of course it's knocking on the door

of the longest of History the thing that

just makes it even tougher is the fact

that there's not that broader expansion

throughout all markets and that's just

the thing we're still all waiting for

and scratching our head and this would

absolutely be incredibly easier if we

had that I'd have no problem coming on

here and have people yell at me no

bitcoin's still going down we're like no

forget that right like that's like

that's what it like back in 2020 after

c19 is that we were seeing the market

rally we were seeing broader markets

rally it was breath participation

throughout broader markets but after c19

people were just utterly terrified but

we had that macroeconomic Dynamic

happening in broader markets and when we

had this happening back in 2017 we had

that macroeconomic broader participation

of markets to where you could just sit

there and say hey man things are looking

good and it's not to say that won't show

up it very well could

it just isn't here right now and so

while I want to come on here and just

say look time is ticking all elements

are the same this is great xrp is great

Litecoin is great everything is right on

time we're all on schedule everything is

good all systems are go I want to come

on and be like that and just be a moon

boy because this is moonboy stuff that's

happening right here this is moonboy

stuff right here like we've talked about

with like salanta sweet and tia these

are moonboy stuff right in here here

like you've just got all kinds of good

stuff looking here throughout the

cryptocurrency market but I try to stick

as true to the data as I possibly can

and say well what is the element missing

the element missing is a macroeconomic

breath and expansion in markets and

that's just not there yet and maybe we

get surprised and they all happen on the

exact same day because I posted this

over there on Twitter last Friday that

even this whole move that we had in the

crypto Market from late October all the

way up in here until March everybody

thinking Bitcoin ETFs no it was a move

happening there in broader markets that

you could see that the Russell is stuck

in a range for the same amount of time I

mean just look at ethereum and look at

the Russell right I mean Peak bounce

waddle crash crash then range bound the

whole time and then what happens spring

for the Russell last point of support

for Final Phase of woff accumulation

we've talked about a lot about that how

difficult that is at the end of whether

you can get last point of support or

spring phase and you can see that even

in the crypto Market we had various

ending phases throughout the whole

Market whether it was LPS or if it was

spring and here you can see even in the

Russell it had spring and then

eventually it shoots its way out what

happens the market goes with that as

well and so even in this circumstance

it's not like there was some huge lead

that happened here for the Russell right

so like there's still that hope to hold

on to and say well look it's not like

there was some massive lead that took

place here for the Russell for the

market to be able to Rally the Russell

and the market rallied together and so

while sitting here saying hey look you

know in all past circumstances we do

know the Russell was the lead well we do

know that here within this last year

they were really occurring

simultaneously which leaves that hope

there to say hey look maybe the wake up

all happens at the same time and they

actually just run together rather than

them being some type of lead happening

with the Russell right it's not

outlandish to say that but it's just

when we go back and we look at these

things in these contexts and if we're

going to view them from that context to

say well what were the other things that

were happening at the same time and the

other things that were happening is that

there was actually broader participation

expansion happening throughout markets

that were a leading indicator of this

actually ending up happening and we

don't have that leading indicator right

now but we also did see that it didn't

exactly lead here in late 2023 early

2024 they happened simultaneously so

like you could still hold on to that

hope that that that those could occur at

the same time right but is still having

to just kind of remember that it was a

leader in those past moments it's not

leading right now and while I wish that

picture was just perfectly clear on that

if like there was just the absolute lead

there in the Russell you know the best

thing I can do on the YouTube channel is

just paint the picture as clearly as

possible as I can to try to just give

you more data to process and

understanding where you're sitting in

here right how it's going to resolve

itself exactly I'm not quite sure but I

can show you all of these things and say

look we've watched this thing for the

last three years we've seen these things

play out all of these phases it then

goes on and has this big 33% crash right

here just as it did back in 2017 that

inevitably led to things taking off

that's also right when we were right

here for Litecoin and for xrp we're at

that particular phase where all of that

occurred It All Happened from right here

the same goes for xrp this was that

moment where it all happened that I can

tell you if you're feeling beat up by

the market has the market beat people up

like this before to this extent

absolutely with the same Dynamic with

Bitcoin getting back up to those highs

these assets just waddling sideways for

as long as they have and then eventually

the market just woke up as Bitcoin sat

back there at those highs now I can come

on here and I can paint a super mega

moonboy picture by saying all of that

and leaving out the part where the macro

picture was there but I'm trying to also

give you that perspective as well to say

hey look where's that element why is

that element not here this time because

it was there during the 20133 2017 and

2021 bull runs and it's just not there

right now the fortunate thing is we did

even see it here within the last year

that they did just kind of wake up

together so it's not to say that can't

happen but if we're going to truly paint

this picture and be sincerely honest

with the data then we say hey look the

thing that was also leading was breath

so I come to you with a message of Hope

and optimism of being like look if

you've been through it this far you're

kind of right there at the the Finish

Line where the answer is going to reveal

itself there's an absurd amount of

things in the actual crypto Market alone

that favor a resolution being positive

and while most things in the crypto

Market are very similar to that time

period happening there is one piece of

data that is not similar and that was a

lead happening over there in breadth and

expansion in broader markets and that's

just the honest way I have to paint it

to you and like I said earlier I spent

80% of my time when I'm thinking about

the crypto Market on how that resolves

itself and the problem there of it being

like well it's not leading it's always

been the leader why is it not leading

right now the only way I can resolve

that within my own head is by looking at

it from this perspective and saying look

well at least in this last year we did

see a moment where they woke up together

at the exact same time so there is that

but over the course of the next 3 weeks

we are going to cross through that time

period of where this Market has never

gone this long before without things

waking up in a significant way it has

never taken longer than 3 weeks from

right now fortunately a lot of this

Market looks very similar to how it

looked when that happened several years

ago there's even rhyming of this Market

currently right now to our past cycle

and as you've noticed watching this

channel for the years with all these

things marked on here the only reason we

even use this is because of the

absurdities of how these things will

land on the exact same days and the

Peaks coming in on the exact same days

and the breakouts happening on the same

days in the same ranges and when Bitcoin

officially broke out in here it happened

right there on day

1,237 we know that even right in here on

day 348 they both hit their peaks at the

same time and then go on into

capitulation we know when they were

range-bound they both broke out and hit

the top of these ranges to eventually

escape on day

699 and day 1

,237 lands you on September 2nd that the

breakout in Bitcoin should be occurring

post capitulation date for the old coins

would be August 27th and so it's a super

nail Bing time because there's all this

stuff I mean no matter what angle you

look at it from whether it's altcoins

Bitcoin safety trade dominances all

these different things you're just right

on the cusp it's just where is this

thing and so as we approach this time

and we go through these next couple of

weeks it's still just going to be all of

this it's going to be focusing on this

and in the event that this thing gets

its way out of here well then that's the

final criteria that was the last thing

that was missing from it all we have all

the things all the Dynamics in the

crypto Market looking great it's just

this glaring thing over here that's just

missing and this has to somehow resolve

itself and so I don't know how many

times I can talk about that except show

you everything I mean I can show you

everything in the crypto Market I can

show you where we're lined up how you're

doing on Cycles how long you've been in

this if you're emotionally beat up from

the market from being in it so long and

it hasn't taken off well it's like you

know what that that's really just

exactly what happened in here when we

went through all this stuff that's what

this Market was doing that whole time so

I could provide you some hope and be

like hey you're at the Finish Line there

on that that's where that thing got

resolved at but also knowing that you

know this was also one of the

ingredients that has been part of all of

it since the beginning of the crypto

Market this has always been one of the

ingredients and I don't know how many

times I can repeat that probably more

but as we approach this moment of time

all eyes are going to be over here on

this guy and seeing that it can get its

way out the US dollar still continues to

get slammed which is historically been a

good thing for crypto it's just that

macro risk on thing that's just like

where are you so we'll keep our eyes on

it in the coming weeks I'll try not to

repeat myself too much but I think I

pretty much painted the picture in here

the next couple of weeks really like the

next week and a half was that triggering

point for the altcoin market the next

two to three weeks was the triggering

moment for Bitcoin the thing that is

just missing out there is that risk on

environment and broader markets rather

than being a Consolidated Market I

posted about that on Twitter as well

last week only 11% of the S&P members

have outperformed the S&P index 89% of

the S&P members have underperformed the

S&P index we're wanting to see that

thing really open up and if that does

and if it happens right on time well

there you go cue the simulation to be in

full play and so hopefully it all works

out hopefully we're right there on the

cusp of it we'll keep our eyes on it so

on that note we'll go ahead and go

through the wrap up I hope that you had

a wonderful weekend hopefully had an

opportunity to catch up on the

newsletter over here on blockchain

backer dos substack

docomo that big flash crash that we saw

back there on Monday August 5th the

Dynamics of the market on what happened

there and how that recovery happened and

the technical levels of them occurring

at that nothing really broke in the

market when that happened diving into

detail about how like we're talking

about in this video the decision is

approaching we're reaching that moment

on Cycle Theory which has really been

talked about a lot in these last two

newsletters I do audio record all of

these includes a nearly 24 minute audio

voiceover in there of course if you sign

up for the newsletter you get access to

all the past ones as well with all the

research that's been included in all of

those that's available over here on

blockchain back. substack do.com of

course you can check out BCB backer.com

with over 40 videos and 11 hours of

content teaching you how to set up your

own charts and your own indicators

within trading View and coin Trader Pro

also discussing a lot of the historical

behavior of the cryptocurrency market

which is a lot of stuff even we talked

about today but we go into extreme

detail in there there's links down here

in the description of this video to BCB

backer.com and to the newsletter right

there at blockchain backer.com otherwise

here we go it's a new week and I'll

catch you guys in the next one 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 to pick me up or a

little bit of reassurance just remember

that the blockchain backers got your

back have a good one

[Music]