This video discusses the potential impact of political events on the crypto market, particularly focusing on the Federal Reserve and its chairman, Jerome Powell. It also provides updates on various cryptocurrencies like Bitcoin, Ethereum, Solana, Dogecoin, Pepe, Bonk, and Avalanche, offering trading insights and market analysis.
Here’s a breakdown of the key topics:
Jerome Powell and the Fed
The video highlights the immense pressure on Jerome Powell, with calls for his resignation and even a criminal investigation for allegedly lying under oath. The speaker suggests that if Powell is forced out, a new Fed chair might lower interest rates to 1%, potentially fueling an already hot economy and market, including crypto.
Bitcoin Analysis
Bitcoin is currently testing the upper end of its bullish pennant, with relatively low trading volumes. The speaker discusses potential breakout targets of $26,000-$27,000 and a downside target of $10,000.
Google searches for altcoins have hit a four-year high, indicating renewed retail interest. The Blockchain Center altcoin season index is currently at 53, suggesting there’s still room for upside before a local top is reached.
Dogecoin (DOGE)
Dogecoin recently retested a key support level at 26 cents. The speaker suggests limit orders at 26 cents or trigger orders at 29 cents for potential trades, targeting highs around 47-48 cents.
Ethereum (ETH)
The video discusses significant ETH ETF inflows, with daily inflows ranging from $250 million to $500 million. Ethereum is currently in a “danger zone” around $4,000, which has historically been a resistance level. The speaker advises waiting for a breakout above $4,000 or adding on pullbacks to $3,500 or $3,000.
Pepe (PEPE)
The speaker expresses frustration with Pepe’s performance, noting it hasn’t followed the ETH pump as expected.
Solana (SOL)
Solana is experiencing significant buy pressure, with a treasury company acquiring an additional 100,000 SOL. A US Solana staking ETF has surpassed $100 million in assets under management, indicating strong demand. Solana has broken out beyond a key pivot point, with the speaker suggesting a potential move back to previous all-time highs.
Bonk (BONK)
Bonk is seeing substantial buybacks, with a million dollars a day in Bonk buybacks. The price is currently consolidating, and the speaker suggests waiting for a pullback to the 20-day EMA or a break beyond 0.00004 for a long opportunity.
Avalanche (AVAX)
Avalanche is at a key resistance level, having been in a huge consolidation range since February. A break above $27 could lead to a quick run to $50.
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