In this livestream recap Frankie Candles covers the charts on Bitcoin and where it’s headed for this year, we give away tickets to BTC Miami, and Deezy covers Ripple’s gameplan as well as the BTC energy fud.
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Strap like the the tan line from his not Not in a weird onesie like a 1920s power Lifter onesies Significant tan lines on Frankie's Shoulders there yeah luckily uh I wear Pretty skimpy bathing suits so [Music] Thank you [Music] [Music] So here we go uh if we just go ahead and Take a look here I want to zoom out just A bit let's come out to the Daily and uh As you can see right we had this Previous value area that we were trading In all the way back from May of 2022 uh Now this is not my actual charts but I'm Just going to go ahead and put the Levels on the chart here manually Because I do remember the levels because I stare yes I stare at the charts long Enough to just remember where these Levels are uh but yeah the value area High of that range was at about 31k Right about there so I put a horizontal Line right there and then the POC of That range was at about thirty thousand Dollars even I will go ahead and drop That right about uh there and then we Had the value area low coming in at About 28.8 K which is right about Here give her no there we go perfect uh So we were trading within that value Area guys which was a value area all the
Way back from uh May of 2022 and uh it Was kind of the doorway to higher prices Right once we broke that level we got That big move up to 31k as we were Expecting and then as we rejected this Value area high shout out to the premium Discord we were looking uh we gave this Short setup almost to the dollar uh in The premium Discord looking for a short From that value area high because Typically when you come to those value Area highs you at least get a rejection Down to your POC and then uh you know it Is likely that you will come back down To visit your value area low which again Was at 28.8 K and during my market Update shout out to the candles in chat I see you guys uh I appreciate you yeah It feels uh uh yeah I hate being away From uh from uh from the YouTubes uh but Yeah I appreciate you guys and I do see You uh but that 28.8k level was kind of That level I was looking at in the Market update saying this is the doorway Two lower prices guys because if we lost That value area low what would Essentially happen is we could get Accepted back into our uh a different Value area where if I go ahead and pull It up real quick Um right here we had another value area Uh basically that we were trading in all The way uh through this 20-day range That was absolutely brutal just going
Sideways uh and that was kind of our Previous value area that we were looking At and we knew if we broke this value Area low we may be able to get accepted Back into this previous range that was Kind of basically between about uh 28.5 And about uh where we're sitting at now At about 27.5 so we were talking about How if we lost that 28.8k level we know It would be at least likely to come down To the POC at 28k and uh it would even Be likely if we weren't able to hold That POC uh it would be more likely than Not to come down and revisit that value Area low at about 27.5 uh we got off the Ship in uh in Orlando I checked the Chart and we were literally just Chilling at 27.5 and I was like thank God uh so yeah that was beautiful and uh Really guys all we're looking at is the Value areas right we have that previous Value area up here where we know if we Come to the high it's likely to come Back down to the low and then we know if We lose this value area low we're going To come back into that set that old area Of balance the range I just mentioned And now we are kind of just hanging out At the bottom of this range which is a Very very interesting level because if I Go ahead and turn on our visible range Volume profile we'll pull up those uh Volume bars on the side here you can see This is a pretty important level to hold
Because if you zoom out here you want to Take a look at that Giant volume Gap That we have below us uh you see we have This high volume node that's kind of Where we're sticking at right now but if We lose this level this is the new key Level this is the number one level that We must hold and it is coming in at About I would say about 27.5 right if we Start decisively losing uh these lows More accurately about 26 986 I believe That's the level I've been giving in the Discords uh but yeah this is a key level Because if we lose this guys we do have A pretty big volume Gap here that will Likely at least bring you down to that 27 26 100 level but you don't really Have that much volume here so you it may Not be that strong of a level and if you Lose that level you are more likely to Come down to that you know to 25ks right A lot of people have been looking for That move 225k uh I don't know if we're Gonna get it but this is a very key Level if we don't start getting a strong Bounce here uh you know we are very Likely to fall through that low volume Gat and hit those 25 000 levels shout Out to these new hoodies these are sick Actually TJ's is my favorite color uh That's like that cream it's got the Money bags on it uh these These are Absolutely awesome um are these on the Site yet TJ yes hitmerch.com this is
Just a little bullish news here I've Been trading nfts for over five years I Have extremely high confidence we'll see Another Mania that is even more maniacal Than the last one if you disagree you Are wrong I agree with that okay Nicholas uh T Haddon and Andrew Schuman Nicholas Hadden Andrew Schumann good Good thing with the uh yeah yeah yeah we Will be emailing out promo codes that You just go to the Bitcoin 2023 or the Bitcoin conference website put those Promo codes in you'll get a general Admission ticket for zero dollars and Zero cents and we will get those sent Out later today so congratulations to Those two winners guys I gambled over The week uh I was on a cruise I did a Little bit of slots I did a little bit Of 21 very very small amount of roulette Walked away even on roulette down on uh Slots and down on uh Blackjack but you Know what I did I was waiting on Cat to Finish getting ready you know uh not a Big surprise I think guys can get done a Little bit quicker in females I I Started gambling on stake we won turned 350 bucks into eleven hundred dollars Let's go while on vacation so all those Losses like kind of went back but I Didn't really look at it that way I was Like all right well I'm down but now I'm Up all right let's just go be a DJ and Then I like lost it all then I've like
Lost a little snake but yeah what uh Felt good about that felt good about That what's up I'm wearing this uh nice New merch Morels morel's been working on All this stuff man it's the orange one But you know it is also orange and we Got from NASA Tang hey so big big shout Out to Tang thank you NASA for Tang it's That orange drink baby give me But that is just so sharp I just had a well I wanted to point out a couple Things uh you know you all were talking About that 20K level Um I'm gonna kind of tie this in with Technical analysis and on chain this is A chart that I put out uh several months Ago just outlining different spots where Smart money buys and you know I don't Call it dumb money but retail gets Brought in by all the mainstream news That comes out once we get these very Fast price action movements like we saw Uh in 2021 into 2022 uh or 2021 here and Then this time into 2022 when all the News media is just pumping uh the hope For the retail to come in and buy the Top of these areas these people don't Have conviction they're buying hoping That they can take advantage of this not Realizing but by nature of buying at These levels emotionally charged that They are contributing to the weakness of Those levels so what one of the main Points that I try to talk about on the
You know in bitlab academy and on The Bitlab Daily stream stream is we want to Get as far away from emotional trading And more data driven rather than being Held hostage by our emotions and being Excited about price levels ignore the Price the price should only be something That gives you a tool to set a target For whether it's stop losses entries or Exits but the data is what really gives You the opportunity and I I mapped out This possibility of what I I thought was Likely going to be the price action Going uh into the having and then post Having and we can see this is exactly Where we've gone exactly as expected Right here at that 30k 31k level and the Golden pocket from this to this level Would be right at that level you're Talking about TJ and DZ that 20 20 500 21 000 if we were to come all the way Back down here I don't necessarily think That's going to be the case the point Here is a structure this sort of Pullback now coming over to uh some of The the what's going on right now well We can see this is from will Clemente Who I'm actually having a conversation With tomorrow I'm going to try Try to bring him on the shows here uh is That we had a large Baseball playing Family oh yeah yeah large increase in Open interest which is essentially Derivatives uh Futures uh you know all
The leveraged Traders while price action Was going sideways and this is mostly Positive uh open interest in terms of Longs and so this is this is this Pullback is needed you can't have 60 of The market trading on Leverage long so What's happening right now is okay now Diving into what's going on right now There is some hope around these levels Right now we're having the Stronger-handed considered people the Long-term holders we see a sharp Increase in Supply right here on this on This dip as opposed to this 25 000 level Where long-term holders were selling to Weak handed short term holders now it's Inverse we can see that on this chart And then coming over to uh this right Here you can see this sharpen this green Spike here long-term holders Supply Increasing now you see right here the Short-term holders are actually actually Selling the long drum holders which is Kind of an interesting change in Dynamic For the market so there is some Bullishness that goes with that however With all the stuff considering what's Going on in the market there is still a Looming bearish not even a cloud it's Just uh it's it's not even a cloud it's More like when you walk outside and There's so much fog you can't see 20 Feet in front of you is it nice is it Not you don't know you can't see you
Can't see anything right but I guarantee You the sky above that fog is blue and So we need to be aware of that now Looking at this this is one more bullish Potentiality anytime we've broken above The short-term holders realize price This is the uh the green flag here Purple is when we broke above the uh Hope Zone here the capitulation or hope Capitulation will be on the way down Hope would be on the way up once we've Broken above these levels we've seen not Only the strong price action but Continued price action this may look Small but this was a about a three to Four hundred percent move from here to There so similarly right here this was The beginning after the global economic Shutdown March 2020 back here this is The 2015 cycle and I think that we're Going to have something a little more Similar than the 2015 cycle than the 2019 cycle because we're finding a lot Of resistance at this uh bull floor band Now the last thing I'll share here is uh We had a lot of supply and profit it got All the way over 70 Supply and profit When the market is that profitable and So many people are making money At some point people start to get get Wind of that and they take profit now if As bullish as I've shown some of those Charts we always have to look at things In context and now this is not Bitcoin
This is traditional assets but this is a Smart money betting big on the downside These are this is the increase of puts On the SPX and we can see now this has Been up here it has some continued price Action with upside but if anything it's Always been a setup for the start of a Bearish trend and with the fomc meeting Coming up in the matter of a couple Weeks we got to pay attention to this so With that make sure you come over to Bitlab Academy check us out every day 10 A.m We got the new courses the new Website all this stuff will be being Launched while I am here in Atlanta I Leave May 5th so go over to Bitlabacademy.com sign up today it's Still the old site because if you sign Up today or before we launch all the Updates you get to keep the current Price of bitlab Academy for the life of Your account rather than have to pay the Updated cost which is will be going up a Little bit when we launch this you can Use bit Squad 15 as well for an Additional 15 off all right uh Ripple Plans to help 3.7 billion people here is Hell that's a lot of people TJ it's like Half the globe that is a lot maybe more All right uh blockchain base fintech Company Ripple has now it's planned to Help over 3.7 billion people who are Either unbanked or underbanked around The world in a tweet released on Earth
Day the company believes that the global Climate crisis is one of the most Pressing challenges of the century and That blockchain Innovation carbon Markets can assist in achieving Global Environmental goals they see one Solution to the problem as providing low Cost and always on money transfers in Emerging markets and creating essential Bank digital currency platform for Governments working to improve Financial Inclusion they believe it's xrpl which Is The xrp Ledger is the world's first Blockchain to be carbon neutral and his Framework has the potential to provide Green cryptocurrency Solutions and more Productive carbon markets company has Set a goal of achieving neutrality by 2030 if not sooner by reducing emissions Using green energy and investing in Inventive carbon removal projects they Know where the money's at they know the Money's at you know this ESG style Narrative and they got to play the game And we always say look it is a banker's Coin and that is part of the appeal to Some people and if they want to be a Banker's coin they got to play the Bankers games Sam bankman freed said it Best these are these stupid games as Woke westerners Play Because it's what Is expected and so I think uh it's maybe Along the same lines as that I I don't You know I don't think people use xrp
Because a tree is planted every time you Know you send 10 transactions but it is Going to be needed and it is an Important uh aspect of cryptocurrency Especially as the energy fund is going To be hitting another wave in another Wave just wait for the next having cycle It'll all be in the news and I'm sure They'll turn the having into some sort Of biblical plague style event where oh My God it used to be fifteen thousand Dollars of electricity to make a Bitcoin Now it's thirty thousand dollars of Electricity and then they're going to do The equivalent oh that could power 1700 Smart Homes in Norway that use Geothermal for 87 years a piece you know Though they'll come out with some Moon Mass so expect to see it it will be Happening and I think xrp they're just Kind of playing those games [Music] Foreign [Music] [Music] Foreign