FTX Donations, Optimism (OP) Spike & Bullish Chart

Go ahead ladies and gentlemen, welcome back to another episode of The Traitors Chat. And I am back from holiday. You. Now, before I go any further, a couple of things to say if you're on YouTube watching this please like share, subscribe, pick up the link, throw it to your mates in the different discord groups and telegram groups and Facebook groups. Because we'd love to have more

people involved, more questions, more interactions. Second to that, drop any questions into the comments section. If you're listening to the podcast, it does make a big difference if you can give us a rating. Yep, you just got to scroll down through. Drop a rating, drop a comment. If you would be so calm, we're approaching I think 2000 episodes of this that I've been doing. And guess

hello to you. If you're welcome back to you. Yeah. Welcome back, mate. Yeah. You look. I look different. I got a beard and I got blue block of glasses. I don't need glasses. Wow. It's a big difference. There isn't it. Just makes my eyes not so sore because I look at a screen here, a screen here and the screen here. And they fry. I like there.

So it doesn't that frying you. Anyway, I'm offling. What's going on in the markets, boys? Looks like you've increased your IQ by about 50. I look very distinguished. Thank you. I remember when I first started trading with Craig. And you said, I wish I'd had access to a dark mode screen and blue block of glasses because I traded for such a long time in London with

white. Yeah. But I'm not even doing it. I'm just doing it. You're doing it. You're doing it, yeah. It's bad. You spend so much time staring at screens. And intently. You know, you're like. And I just start frying. Forget the blanks. No. Oh, good. I'm going to look at glasses. You get it from your local pharmacy. Go and get it traded. How many fishes you catch?

Oh, I can't count them all. Um, how do you get good, pretty good, pretty good harvest, actually. Mahi, Mahi, Spanish, Mark, all mangrove Jack Travalli. I got to include my partner, Carly, I will do include my kids had a bloody cracker of a time camping, you know, with the kids, amacali, getting out in the bush, up and down the coast, you know, all over the East

Coast of Australia. And that's what I want to do. Just keep living like that. But, you know, there's bills to pay. And look more important. I would be doing it out of the back of a big, I'd just go and buy a big Mercedes van or something and deck it out and just have, you know, my screens attached to the wall. But, you know, I've got,

I've got two kids that I need to look after as well. So it's sort of not on the cards to just be a trading nomad for me at this, at this older, look at me, I look older, period in my life. But yeah, it was bloody good. I feel very refreshed and, you know, got my, got some routines in place, made some changes and feeling good.

Oh, good. Awesome. We are. Awesome. We held down the fort. Pretty well. So, you know, you're way, you missed a lot in the markets. Actually, you had a nice run with Bitcoin and all of the olds. Which would have been a good surprise to come back to. Yeah, mate. It was, it was, it was, I didn't look at charts, so to speak. I mean, look, I

looked at Bitcoin and Ethereum every now and again, just on my trading view up on my phone. Just to sort of keep an eye on it. I kept an arm of portfolio and just to see if there was anything that, you know, might have rocketed off and I need to take profits. Sadly, it didn't happen. But yeah, really nice to see that, that kind of January,

I suppose, sort of over two weeks, really the majority of that move, absolutely, I mean, 54% from the low to the high. Nothing to be sneezed at. Still looking a little bit shaky up there at the moment. I'd like to see it see the continue one from here or have a decent pull back on the weekly to, and obviously I want to see it step up

to a new high high on the weekly. But I don't know, man, the question I've got for myself when I look at the market at the moment is, you know, those, those people that do, they cost average or that they did buy went Bitcoin and the odds were you know, down around that $16,000 mark, they're now sitting in some pretty solid profits. I wonder if the

hangover of, you know, basically all of 2022, because there wasn't too much good news or goodness in 2022. Not too many opportunities to profit taking on the way up. I wonder if there's a number of people and we'll probably see this on the chart in the coming days and weeks with a sort of going, oh, well, I bought a bunch back down there, might take some

of that profit and then whether or not they put it back in. Or not. So it's depending on who's going to have learned their lessons potentially, but it depends on the plans. They plan to take profits quick, or do they plan to get a position for a long term. Hold time will tell, but I'd like it if they held on to it. So the supply didn't

all of a sudden, you know, outway the demand and we go back down. But, you know, we trade is so up down as long as it's not sideways, we're good. Yeah, it seems like a lot of a lot of people threw in the towel after 2022. And we had a nice little run on Bitcoin and they sort of, you know, coming back out of the woodwork

and jumping back in the community and like, oh, you know, crypto still a thing. How are you guys going? And unfortunately, you know, we've had some great running trades up to that point. So that missed a bit of a chunk, but, you know, we're still at really good prices for those people looking to dollar cost average and even trade if we're doing some more upside momentum.

Did you call like a 40 to one? Yeah, on that gullotry. That was amazing. Far out. That's like, for those that are wondering, when I say 40 to one, just just for the, for the listener or viewer who's going, what, what does that mean? Is it a 40 X? Yeah, it's a 40 X on the risk you put in. So if you risk a hundred bucks

and you don't scale out, that's a 40 to one on your wrist, that's 40 times your risk multiple many hundred bucks makes you four grand. You know, that's the way that we look at it as traders. We look at the multiple of risk and then the multiple of reward. These are, you know, against one. So one is the risk and the number 40 is the size

of the reward based on that risk. So absolute ripper of a trade that one may well done. I can't take all the credit. We actually chatted about it with one of lose live trading force. I do. So it's a team effort. I think you're right. And in the community, they got to see all that and be involved. Yeah, exactly. Yeah. The community have been killing it

actually. It's a few members really standing out taking some fantastic trades. Just really good to see. And now we're just entering that consolidation period, which we'll chat about in a minute. But yeah, last week, last year was a bit of a run. Thanks to FTX. But the FTX debtors have sent out a message to recipients of donations that SBF and FTX have donated to asking for

that money back. Have you. I think you read about this. Lou. I did. I read about this morning. So we haven't used channel in our discord in our free, in the free discord area. And I decided to post this article. In our news channel in our free discord area. And basically what the article said was it was an official release from the FTX debtors. And the

guy that says CEO of FTX is going to John Ray. He's like, he's basically the complete opposite of. His response. He's not just responsible. He has. He has a lot of experience in these type of things. He actually was the CEO of Chevron. When it went into liquidation and he paid out all the creditors. And so now he's going after. He's like a bulldog this guy.

And he's now. And and kudos to him as well. He's set up the FTX official set up a. A. A. A. A. a tip line, I guess. And so if you've received an account, however, John Ray is decided to get a court order from the US courts. Basically court ordering. Anyone that received any donations to return the money back to FTX. Okay. Okay. So let's just

break this down for a second. He's saying. So it's a good old John Ray. Good on your Johnny. We love you. Johnny's gone out there and said, right. Okay. Politicians of the world of mostly the US, but of the politicians of the world. We are going to try and get back the money that we gave you in donations. And we know that politicians are the most

honest, you know, high moral compass, uncorruptible people on the planet. And they're definitely going to do the right thing and give the money back to the people for which they govern. Right. That's what's going to happen. Every. But every sense coming back. That's correct. And that was said a couple months ago. It said, well, S. B. F. was the second highest donor political donor in the

United States. Specifically to the Democratic Party. And there's like all the moral responsible thing would be for these people to return these donations. Like we're talking. We're talking like the second largest donor in the United States. I think it was like 40 million to the Democrats. Wasn't it? Something like that? Is something like that? Yeah. Yeah. Just behind George Soros. George Soros. But anyway, yes. Yeah.

So, so, so, please. So this announcement was made. And then Johnny goes, and then Johnny goes, okay, so please politicians, you're really good people. Do the morally right thing by citizens and return the money. And the politicians, well, what the politicians then said was, S. B. F. We don't actually think he's guilty. And we don't think he should. We, you know, he can, let's give him

the grace of turning up to a court hearing. And then he got in prison. And he's going to be a lawyer. And then he got in prison in the Bahamas. And then now, now, now Johnny's gone voluntarily return that money. It's all good. Voluntarily return or do something. They're basically saying do something. Do something with these donations. But while you're probably not doing anything, I'm getting

a court order to force you to give. To give a lot of that back. I think that's basically what that happens. I mean, if there's one thing that we've learned about politicians, especially in the last sort of three or four years, is that it's almost like the tail wagging the dog. The politicians, the dog tail someone else. And, you know, I can only speak for a

lot of the stuff that happens here in Australia. The tail tends to be the mining corporations. And the dog does what the dog what the tail tells it to do. So good on you, Johnny. Get after and bulldog. Go get that money back. I wonder where my money went. Yeah. I'm into the party. So I'm. Yeah. I know. He's got it, mate. Yeah. I think my

money, Tom Brady either has my money or Joe Biden. I think Tom Brady lost a bunch, didn't he? Oh, mate. I should actually. Yeah. Actually, Tom Brady lost a bunch. He's the same. He had a fairly similar to me last year. Got separated and I got dusted by FTX. So me and Tom Brady. It's just like a nice. Yeah, or talent throwing a ball. She done.

If you're listening to this Tom Brady, come and jump on the podcast. Yeah. Talk to us. Tommy. Big fan. The next article. So optimism. The token OP or Tiki Kodopi has been on an absolute tear the last few weeks, hitting all time highs of just over $3. I think it was. So we looked into why and it's some. It's an Ethereum layer to project. It has

a an upcoming upgrade called bedrock where they're looking to decrease fees. So yeah, I think optimism is a really good Monday, keep an eye on if you are looking to dollar cost average into a project. Again, not like not financial advice at all. But yeah, optimism is a really good project now. On the terms of market caps. It's, you know, compared to other layer to projects

like Maddick or. Look, other. You know, loop ring or. Arbitram like there's. It's just so undervalued in my opinion. And it's such a good project. What is the market. Of. Open. Yeah. Look. I have a couple here. It's just a game that the ticket goes. It's about 500 million. So look, question on this right. This this six six hundred and forty five million right now. Three

dollars and one cent currently on CoinGecko at 4.1%. The question I like. Look, I'm not huge on layer two. Okay. I'm not. Yeah. That's why I wanted to bring you this. Bring this up. Zero layer one fan. I'll lay one fan. Hey guys, just quickly. You reckon you could in two centers or less describe the difference between layer two and layer one for those. I'm actually.

I kind of know. But not that well. I don't know. Lay one projects are Ethereum and things like Bitcoin. It's like the network. Layer two projects built on top of on the. Yeah. But is it does it actually like this. This like. We said that. Decreasing fees and whatnot. Okay. Does that help the Ethereum. I'm obviously it helps the Ethereum ecosystem because it's a layer to

build on a theorem. So it's, you know, within that community within that network. But does it. Essentially, it's lowering fees for OP, not for Ethereum. So I guess it can't take the thunder from Ethereum being built on Ethereum. Can it? No, that's right. I don't think so. I think Ethereum has such a bright future. They're just been doing things in the background and we've got that

Shanghai upgrade coming up soon where people can unstake a lot of their Ethereum. Not sure if that's going to be interesting. That's going to be really interesting. There's billions and billions and billions of dollars of the theory. I think that's 60 billion dollars. And when they don't forget when they staked it. So a lot of staking. Obviously it was it was ongoing for a long period

of time, right? But when they staked up Ethereum's prices, if I'm correct, we're a lot higher than what they currently are. A lot higher. A lot higher. So going into the back and it was kind of a lot of the bull run during the bull run. A lot of that period was pretty much that 12 months where we saw that bull run, which is when they

were staking their ETH. So a lot of people watching their ETH go through the roof after that 4,000 plus or whatever it was. And now it'll be interesting to see like a lot of the people that are staking it, one of the potential outcomes is they have money on FTX lost that. A lot of the knock on effective FTX was that obviously a lot of the

companies had to hold their treasury in the FTX platform for the very first time. FTX to then go ahead and be a, you know, or Alameda or whoever to fund these projects and offer them money. So I wonder, it's really interesting to see what's going to happen when this unstaked because people are people just going to dump Ethereum and try and cover some of their other

expenses and losses. If that is to be the case, that is an opportunity that is very saucy because, you know, people are just dumping out of sheer need, you know, like if people are going to have to sell because they need the money, then you can't stop that from happening, can you? If it dumps, man, we could get some good cheap Ethereum, look, it's not great

for the market short term, but I mean, we're here long term. So, you know, it's interesting to see how it plays out, I reckon. I'm definitely waiting for that to happen. I think there's no set date, I don't believe, but around March, I believe it's happening. So it's definitely worth getting on. But before we bring up the charts, although Lou does have the OPE chart up,

but before we jump into the charts, we just have to switch over to a quick word from our sponsor, BitGET. So stay tuned. Just a quick word from our sponsor's BitGET, you know, to keep the lights on and all. Trade a carbon BitGET have partnered up as we've done extensive research on what we believe to be the best trading platform for margin traders on the market

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right. Thanks guys. Let's jump into the charts. So take us through the top 10 Lou and what you're watching. Okay. So let's start with Bitcoin. It's my favorite. We're not going to be showing you in dollar market cap. I think so. But I just see. Sorry. Bitcoin crypto. Okay. Yeah. Let's start with the crypto market cap. That looks just like Bitcoin. So this is total total

market cap. Yeah. Craig, you're right. Yeah. We just ticked over one trillion today. What's the dominance look like? It'll be waning. Let's just. Sorry. Let's just let's just have a look at this quickly. So I think I put. So back in August 2022. What was the high of our market cap? It's about three trillion. Oh, sorry. That you've done Bitcoin. Three trillion. Okay. All right. Let's

have a look at the dominance. I think we just broke three trillion. Oh, just shorter. Three trillion. So an interesting. Well, during the bull market. Well, yeah. So during the bull market, we were observing this trends on the dominance. Where we were the dominance of Bitcoin would drop off. And then we would see a rally in the Alts. Yeah. We'll have a look at where we

can dominate spiked back then. Go back to the September. No, not just just gone. Yep. There. Yeah. Where you cross areas. Yeah. Yeah. So you can see that. Obviously, we're still on a bull market in 2020. At least I can't see the date there. Cause my that's 2022. 22. Oh, yeah. Oh, it's a daily shot on a weekly. So that was the. So here. This is

here. I'll bring the weekly up. So 2022. This is 21. So I descended. He said that was a start. Yeah. Yeah. December 20. Yeah. Remember. Yeah. December 20. We'll remember that. It's so secret. The December seems to be the peak of a lot of our bull ones. But check out one thing I'm pointing at here. Like check out that support. Look at that support. We're sitting

down there. If you've come, we've pushed through. Now we're going to be able to see the numbers. We've got high lows out of there. And we're going to weekly uptrend on the market cap of dominance. We got an uptrend. I think on. I know on Bitcoin. We're an uptrend on the weekly on the market cap Bitcoin dominance. We're an uptrend on the weekly as well. I

believe would be on the total market cap. So it's, you know, green shoots all call it after the fire. We start missing. Yeah. And that's a solid monthly level of support. They're on dominance as well. But yeah, you're right. You're right. Great. Yeah. We're uptrending on on all these. These are the metrics. So let's have a look at Bitcoin. So purple is daily. Why are monthly

levels of resistance and support? And purple in daily levels of resistance. So just for the lessons on the podcast. We're looking just looking at some support resistance level. That's right. And so we're just in that range right now between this daily level and this upper monthly level of resistance at 24,500. But then after this, I'm kind of looking after this. If we if we were to

push through that 25,000 range in, there's quite a lot there on the chart. Yeah. So really 28,000 30,000 is kind of the next stop if we were to push through that. There's been a range between that 24,000, 25,000 years in there. We're sort of wick through and then that's all hanging now. Yeah. That's where we're hanging now. There on this particular day. It's the higher time

frame. I'm kind of focusing on the we get the whole market running. That's when you can trade pretty much any timeframe. You can be over there. Everything because we've got trends all in agreement. It's nice to have the way back. And and also like look, like we have the negatives of the consolidation, but the positives we always talk about in life training for is that every

single time we talked about this in January. I remember talking about it. So I was doing life training for all for all of Jan. And every single time we see one of these long consolidations, same here to a lesser extent, same here, it's followed by a huge move. Every single time. Every single time. Bitcoin consolidate, whether it's up or down, that's up to the market. But

every single time price consolidates, it is followed by a big move. So that is the positive about consolidations. That's what I look forward to. And we're just looking for the clues to see which direction. Well, let's have a look at a theory of a hit that top 10 up. And for those that are listening, of course, you can go and watch this section of it on

YouTube if you wish. But we'll try and keep it as interactive for the podcast listeners as we can. The theory is got a bit more of a trend going on there. What's that hive that week there, mate? Right. The one that's it. Yes, we've got to get a lot of money. One, one, seven, yeah, 1720. And that's a monthly and daily level. So very solid level.

If we blast through that, happy bike. We'll be looking good. Be nice to blast off the and then to pull back into that when this unlock happens in March. So we can get a trade off of that. I mean, look, that's a lot way off. That's how I think. For sure. Next we got BNB just stuck in that daily range, but such a nice uptrend. Look,

if we get that little bush candle in there, tomorrow on live trading floor, we could have a daily cradle option there for sure. Yeah, it's been turning well. It's been grinding, but it's it's the last last week. It's sort of kicked on with other markets. Didn't. Yeah, grinding. Grinding's the right way to describe it for sure. Next XRP. Nothing. XRP. Yeah, it's just waiting. It's been

like that for such a long time too. This needs to see things are rubbish. Rubbish binfire. Yeah. I think that's it. So I think it's going to be a lot of money. We got don't look grinding grinding. I'll take these levels out there. I don't need to punch through those. A lot of them need to punch through their eyes to continue. There's still so much like

in the top 10. There's a lot of work that needs to be done. Although adder is in a very nice uptrend. Yeah, it's just grind again grinding grinding. We need to reset it because what's happened with a lot of these trends is they've run so hard away that they've not allowed us to have that beautiful cyclist. So the only thing that's been done is the cyclist.

It's just been like straight lining. Magic. Magic looks really nice. One of the better trends in the top 10 at the moment. I think on the daily. That is the daily chart. Oh, 100%. Look at that. I would have actually liked to have seen it coming a little bit further for us so we could get a trade on it. Maybe it's still will. It's only one

day thus far. Oh, look for a breakout on those lowers even. That's a beautiful looking trend there than done. Dot needs to kick from that to set that high a low and take it. Get the higher high. The problem is that that big candle that pushed us up to that higher high above $7. It's quite a way off. You know, $7.3. We're currently sitting at what?

$6.454 or something like that. No, $6.00 to be something. So it's still got quite a bit of movement to get up there. But I mean, if we can do that, that trend will have a new high a low and a new high a high. And it will. You know, when I say reset. It's been a bit messy in the market, but we haven't lost a lot

of these top 10s. We haven't lost the higher lows. We can reset and then set the next one up. And maybe with a little less haste, you know, trends that run hard and fast. They look good on paper. When you look at your portfolio, but it's sustainable trends that we can trade that we make money on both investing and in trading. That's all I'm just hopeful

to get that sort of condition at some point. For sure. Next Litecoin. Look at that. The daily that's popping off a really well established daily and monthly level there as well. But the double look at pull the 12 hours. The 12 had a little little blip of a lower high wouldn't make just turn about it. But it wasn't the smallest of care. It wasn't too big

though to be honest. It just wasn't that pretty. Was it. Looks good. They're trained on like now. Good trend on Litecoin right now. Put that in the mirror this morning. Yeah. Yeah. Yeah. We did. Yeah. It wasn't the community. It's like climbing in the top 10 anymore. No, it's not. It's not. No, mate. It's number 16. Oh, I'm leaving out the stable Bitcoin Ethereum. Binance. Exxon.

Exactly. Exxon. No, doge. Poly. Oh, magic. Oh, okay. Okay. Bees at number 11. Eight. Salinas at nine and she was at number 10. Doge and she was still up there. It's baffling to me. Whatever. The meme points. Whatever. And then we'll have a look at the ship. Yep. Yeah. That's actually work. I think that's a really nice trend. Yeah. It's good power. It's not matter of

trying to find an entry. It is. That's correct. Yeah. Yeah. And entry with enough room where you capture the overall trend. Not just. And look, if it breaks through to new highs, it will have left a mate. Look, go back to that weekly or two day or whatever. You go to weekly. Yeah. Yeah. We break out of these highs again. Look at what we got. We're

kind of free. There's room. There's a lot of room. And look at the look at the move. Yeah. I mean, it's just off its head. I mean, the concept is off its head, to be honest. But it's moving. I don't care if I'm trading a dog meme coin or a bloody whatever. As long as I've got trends and liquidity, which we do have with bit yet.

So be it. 100 and 2% it's moved from this. It's too high. It's too high to call. It's two. Five decimals and then it's. Yeah. If it's a top 10 now and we see another. Nice run up into that open area. Where's it going to sit? Is that going to knock out? Knock out, you know, things like magic out of top 10. Has potential. I mean,

she has a market cap is 8.3 billion with magic at 11 billion. So it wouldn't take much. It's never ridiculous to take magic. Well, doge is above magic. Take out B and B. Doge is like what a top. B and B is at 44 billion. So the step up from XRP. So you go XRP at 20 Bill. Then you go USD stable USD C 41 billion.

B and B 44 billion. 10 to 68 billion. And then the jump up to a theory is 197 billion. So yeah, it's a long. Jesus, those market caps. When I look at the actual market caps now, it's supposed to just the charts. The room, the potential because Bitcoin had over a trillion dollar market cap it up peak in same. So a lot of room, a lot

of room. There's so. For 40 and 40 billion. Isn't so much room to move. There's so much room to move. And like if we were all have a quick look at the DX Y before we wrap it up. And then and then here's the Dixie just a really nice downtrend on the daily. Yeah. And had a little pump. So that's three days. It's a little one.

I'm so glad where I converted out of USD into a strained dollars. I just looked at the chart as a chart. You know what you called Craig. Last year you said we may get a pullback of bullish candle and the Creel Zone, but it would have been, you know, ideally of this resistance up here. You know, it's still early days, 21 days for the month. Yeah,

I would all pump there. But look at that down. It's just a little bit of a change. It's been strong. A little bit of raise now. But yeah. So dollar index starting to well, that if the US economy gets better and they stop inflation across the globe. And you know, somebody can get with that wall that rubbish wall. Stability comes back. I think we'll see the

dollar tank. Just because stability equates to more liquidity into. Other asset classes, people rush to the dollar when when things are uncertain because they're like, I don't know, I don't know, there's too much risk everywhere else. I'm putting it in what I call a safe haven. And I did a piece on this sort of, I don't know, I don't know what my maybe October or something

like that last year talking about, you know, because I've taken profits in the bull run and I had it sitting in stables and I'm like, oh, dollar index holds up like 20% on just my dollar US dollar position against the Australian dollar. And I'm like, I'm all about taking the chunk in the middle. I think it's time to do that. And you can, this is just

a explainer is to whether you're an investor in crypto or an investor in anything. You don't even need to be a trader. But having that skill set of a trader, whether you use it to trade or not, it's definitely going to help you with your entry and exit points. And I think it's what a lot of people are missing out of when it comes to I

would come and trade a course is that they think, I don't want to be a trader. So I just won't bother doing it. Guys, it's completely free. But it will teach you a lot about when to get in, when to get out, how to make sure you're locking that chunk in the middle. And that's something that's really, really important. All right. I think we wrap that

up. Yeah. Yeah. Well, that was good boys. I appreciate you. Yeah. Well, I'm back. It's good to have the chat with you both. And I hope that the audience has enjoyed it. Don't forget all the links for your big get account for the back. Come and trade a course. All that sort of stuff that you need is in the description below, whether you watch us on

YouTube, please like share, subscribe. And as I said before, I would really appreciate the help. Are you sharing this with your mates? And sort of spreading the trade a cob word. And if you're on the podcast, please give us a rating or write a comment in YouTube. Began any questions, pop it in because we keep an eye on those comments ladies and gents. Hit us up.

Let us know. Join the discord group if you want to get us much more available answering your questions. So thank you, gentlemen. And I look forward to having another conversation. Love this sort next week. Hopefully we're trending higher.