Thank you. Thank you. Thank you. Thank you. . Thank you. The1931年 4月1日に 東京都交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地によって、大阪市交通局の高校生地 I Thank you. so hey guys what's going on welcome welcome feeling a tad bit better, just a little bit better compared to yesterday.
Hopefully next week I'll be able to do the usual intro and all that stuff,
being excited and all that.
But thanks so much for showing up.
Quite the interesting day in the equity markets.
The S&P has hit a fresh local high since those lows in April, especially after yesterday's
events. It's like these markets now become so much more efficient as far as pricing things in.
Tariffs were priced in within less than 90 days as far as market positioning is concerned.
days as far as like market positioning is concerned and these markets are just
quite insane you know if if we had all this stuff happening two decades ago
um price action wouldn't be as wild as it is right now it's like a machine is running this thing
right um markets in turmoil i have the name of the space, right? If you're not playing
these markets, you're not staring at price action daily, you'd probably think that the S&P has hit
new lows and all that kind of stuff with all the headlines that are coming out. All the headlines that are coming out.
But man, Robinhood stock, yet another all-time high.
I remember on this show about a month and a half ago,
after the S&P eclipsed like 5,100, I think it was,
I was saying that the trade is probably long hood and reduce your exposure to MSTR and hood is just completely dominating.
I still think not only fundamentally, but from market cap perspective, hood is still way undervalued compared to MSTR.
You can't actually do anything with an MSTR except hope that Sailor borrows more money and makes the next big purchase on VTC. whether it's hood it's a it's a platform and you're actually able to onboard and offboard
stable coins which is pretty bullish you can't do that on a with with mscr can you
only click buy or sell there's no actual product but either way i don't want to make the space about that. BTC pressing up against 104.
It's still disheartening to watch what Sol has become.
Just from a price action perspective.
You look at things like Hyperliquid.
You have to wonder, like, how long is it going to take for a faster chain with more growth potential, with less overhang supply?
How long is it going to take for that trade to pan out where this inefficiency of Sol being much more overvalued compared to hype,
when does that gap close?
The last time a trade presented itself like this was BNB against Seoul from last cycle.
And if we look at them right now, they're basically pegged one-to-one almost.
If you look at them right now, they're basically pegged one-to-one almost.
Of course, sometimes they'll have gaps of 15% to 20% of market cap, but nonetheless, the gap between Sol and BNB has filled a hell of a lot more than it was last cycle.
But man, I want to thank all of you for showing up.
I'm here joined by Cheds, Prometheus, and Spread. It's going to be a great show, but before we get started, guys,
I want to thank you all, whether you're listening here live right now or, uh, to the recording,
you're going to have to excuse my voice once again. I'm sorry if it sounds monotone. Um,
I am still, you know, getting into the swing of things after getting my ass kicked for nearly a week.
But damn, Kida above a dollar again.
Jeez, Prometheus absolutely killed it with that play.
I think he called it out on this show at like 12 mil market cap.
Now it's at almost half a bill.
if you guys can go ahead and show some love to the space,
you guys know how to do that already.
Just click the spaces tab.
you'll see a little link, x.com slash high slash spaces.
Of course, it's a Friday. Space is probably going to be a bit smaller than usual. Hi slash spaces. You guys know the rest. Get more people in here, of course.
Space is probably going to be a bit smaller than usual.
But nonetheless, I'll kick it on over to Spread first.
Spread, what's going on, brother?
Nice to hear your voice, man.
First of all, I just want to kick it off in a funny note.
Maybe I can bring your smile on your face face although you don't feel so good so uh personal personal disclosure
god i might get a divorce last night i dreamed i dreamed about sailor
so i was in u.s and he just had a conference somewhere oh jesus christ and when he walked
out i just went and i said hi to the guy and he was trying to explain to me that he has some
i don't know some type of new assets that he's gonna roll over and because of that he's gonna
get more cash to buy more bitcoin so this is how you know that you're a bit uh
delulu in the mind and second of all watching what happened last night between uh you know between trump and uh and uh musk i have to say only one thing um trump said really something
really really uh i i didn't think that he's gonna say say something so under the belt, but he said that Elon Musk still stakes dimension in TIA.
So when I saw that, I was like, whoa.
I mean, you know, all the other things which were said there, it was okay.
But to say something like that, in 2025,
Musk still stakes dimension in TIA, brother.
That's something horrible to say to someone, especially publicly.
really happy to see you here.
I'm seeing a lot of people,
I know, calling for head and shoulders
or whatever they're calling right now.
USDT market cap hit a new all-time high,
another billion being printed most likely it's going to be announced tomorrow from the on-chain
and I see Bitcoin still above 100k so I don't know why these people are freaking out I don't
know what they are calling for lower values etc SMB 500 is like under 2% away from another all-time high. Russell looks amazing. So I'm extremely
bullish. I got my ass kicked off this week on two gold trades. Thanks, Mr. Pister Shift,
for going on your pedophile arc. And I think this is the reason why gold dropped today,
if we're being serious about it but all in
all I like how the markets are developing I'm still 80% in in Bitcoin I have around four altcoins
but just I think it's under 10% in them and I still have a dry powder to deploy I like how the
markets are looking I'm not in the camp of lower prices or if the lower prices are going to come
buying any deep or longing any deep as long as bitcoin stays above 90k there are also other
things that look very good in the market but when you have for example smp clearly very clearly
printing new higher highs and higher lows since the bottom and one less than two percent away from
a new all-time high when you you have Russell printing a very nice formation
and just about to break out,
when you have the NFP looking so strong,
although the Dumers were, again, you know,
beating the drum on Wednesday,
that the ADP report is looking so bad.
Some people, maybe they are new to the market,
but they should remember that the ADP is actually very,
like all the time is getting revised. So all in all, I like how the markets are looking and I'm just waiting to hear some decent bearish talks.
Yeah, I'm not sure. what's going on brother yeah i was gonna pass it over to you now man are you feeling about uh kita man and that caspa fractal caspa was an anomaly in 2023 and if you look at the price action um of Kida and Caspa like if you
look at Caspa from March of 2023 and Kida in March of this year they're doing the exact same thing
and you'll even notice that in June of 2023 Cas Caspa had a little correction, just as Kida did, or is going through, or went through yesterday and the day before.
And then going into July, from July all the way until November, Caspa did another clean 10x, where it effectively topped against majors.
clean 10x where it it effectively topped against majors and i mean that would take kita to
what like four bucks something like that another clean 4x just so it can match caspa's old uh
market cap so it's something that's something to think about and it's it's quite crazy because like
and something that's something to think about and it's it's quite crazy because like
i remember the caspa mainnet thing going live in q4 of 2023 um or early q1 of 24
and the whole thing was like oh just wait until you can bid shit coins on caspa if you remember
that man but that's still a legendary call man like it's something
it's something to call a 10x right but to call something that trades um like sub
teen like like sub sub 13 mil market cap sub 12 mil market cap and watch it right up to half a bill and market cap and cement itself as
a blue chip um is crazy and to keep up with the trade too not just like call it once forget about
it and then all of a sudden like hey remember this coin i called out three months ago? Like, like, nah, man, you've been trailing this thing step by step, bit by bit, man.
Credit is given where credit is due.
Hey bro. I appreciate it. Um, I mean,
the kind words is always from you and it's definitely been quite the
outperformer in the markets. I don't want to gloat too much, but I do appreciate your
kind words. And I think it's going to, I think Kida is going to continue to do numbers to the
upside, right? But kind of what I'm seeing in the broader markets in relation to everything,
I've been posting on my timeline that, you know, structurally here speaking, yes, we did sweep liquidity. But
based off from the price action the other day, could you see an accumulation here around 102K?
Yes, you could. With an extended third drive down into the FEG, backfill some of the inefficiency
and then look for higher. That's kind of what I'm expecting
at this point, right? The Xi Trump trade deal negotiation talks, I really think is going to be
a sell the news event unless we get some kind of outlier move in regards to, you know, a trade deal expectations, you know,
unless something big comes down the pipeline and they are able to really set, uh, settle, um,
really settle some of the questions that have been posed for the last few months, you know, is like, is Trump going to continue to remain
constrictive in regards to global trade? Is China going to actually back off in regards to
the deal that they have with us? That's obviously to be determined, but you have two pit bulls essentially that are historically have had,
you know, major issues coming to resolution in regards to, um, trade deals between one another.
We obviously understand the political tensions in the room and sure. It's nice and all that they're going to go down to London and have a cup of tea and do whatever.
But ultimately, in the short term and in the long term, I do not in not from a time frame respect, but I do believe from a catalyst perspective, I think the market could potentially get a little ahead of its skis in relation to that. And I'm expecting that to be a little bit of a sell the news event. Now, could that be the event that marks the lows? Structurally speaking, potentially, I'm eyeing, you know, 97 to 98k, a structural retest of that previous range that we had before we had the expansion higher to new all time highs.
retest of that previous range that we had before we had the expansion higher to new all-time highs
um but you know here locally speaking there's definitely some tickers and some names that you
need to pay attention to the strength out of ethereum is unbelievably real the flows out of
a lot of other l1s into ethereum have been very very real from a chart perspective ethereum looks
very good um again we did just break those that most those most recent lows at i believe all the
top of my head 24 65 ish and to me that kind of is signaling, you know, potential breakdown into the range lows near 2300. I know
some people are calling for a move to 2100. I don't necessarily think you get that just because
the strength that we're seeing in crypto specifically, we are in an environment from a
capital and liquidity environment that is leaning towards a growth regime. That means that when we have the
S&P currently pressing up into 6,000 and specifically the ES, again, I tell everybody,
you look at the futures charts, those are the drivers of the markets. If you're paying attention
to the futures charts, right, we are having some form of vertical accumulation up into 6,000
having some form of vertical accumulation up into 6,000 on the e-mini SMPs.
And structurally, it really looks like we want some form of breakout here fairly soon.
Options data and positioning from options data perspective is saying that, you know, from a money flow perspective,
that 61, 62 and 6400 are very much on the table. I tell people follow the money. That is very,
I think that's a keen thing that you need to be doing in the markets to be paying attention to
where liquidity is going and where it's heading. And for the market to shrug off the negative data, right,
is quite telling of a market that is very resilient in the face of quote unquote bearish
catalysts. And because of that, you cannot ignore the strength and the trend of the market currently.
Again, we did have large outperformance from Bitcoin off the lows, showing that it is one of the premier risk on assets in the market.
But then yet again, it's very important to understand that, yes, we've been underperforming
here over the past couple of weeks in regards to broader indices. But if indices do break out
due to the increasing correlation between now TradFi markets and crypto due to derivatives and the cross collateralization of capital and liquidity in markets, they become more and more correlated.
That being said, that we're now in a more of a growth regime.
That means that the rebalancing effect that occurs if and when we do get this break of
6,000 means that capital and liquidity is then pushed out onto the risk curve and seeks
yield elsewhere due to rebalancing effects that will occur.
So that's what I'm seeing in the markets.
Again, structurally speaking, crypto markets are looking like they want a bit of a pullback,
you know, but equity markets are looking strong.
So you're kind of having this teeter totter effect on the markets right now, where if
equities do start to show a little bit of weakness, you get that follow through to the
downside really in Bitcoin.
But I just think broader markets are really waiting on indices. They're waiting on
certainty in regards to trade, in regards to economic data. And I don't think, I mean, yes,
there's signs that things are seemingly weakening, but at the same time, the market can remain
incredibly rational and the market can also, uh, really doesn't
want to ever break down unless something structurally breaks too.
So it's really hard to get in front of the freight train that the strength, that the
market, that the strength, the market has showed over the past few weeks.
So kind of what I'm seeing here again, uh, you know, waiting for this, I believe a further
That means that, you know, the rotation in out of gold into other assets, I think, is largely going to drive markets ultimately higher, especially when that whole risk off trade comes off the table and the sheer amount of liquidity that's really in gold goes elsewhere into other tickers and names specifically.
Great to hear from you, man. I'll pass it on over to Cheds. Cheds, what's going on, man? It's been a minute, man.
How are you feeling? What are your thoughts on the discussion? Great panel. Great.
So thanks for inviting me.
I'm just hanging out listening to the birds.
I was playing chess on my iPad.
Listening to some smart market talk.
Hope you're doing well, Wabi.
This thing really got me.
Did you get hit by the itis?
No, it's a viral respiratory infection.
It's something that hits you pretty hard.
Thankfully, I have a pretty quick recovery rate.
But I remember by the second day, I'm like, okay.
And I'm just coughing up some blood.
That usually means the end of it.
And then on that third day, it was just hell, honestly.
And then on that third day, it was just hell, honestly.
And I think yesterday was the first time I was able to get up on my feet with no pain.
I wasn't able to walk that much on Saturday or Sunday.
It was quite brutal, honestly.
And I'm like, damn, dude, I literally squatted over 500 pounds for over 10 reps, no fucking belt, a depth, two days ago.
And now I'm fucking bedridden.
Like, I was literally feeling like Superman.
And within 48 hours, I was taken out to the cleaners.
And it gets really dark. It really does
You can't you can't allow those thoughts to get see you have to start praying but
I'm glad to not be bedridden anymore
Like stripped in me or anything like that.
Yeah, that's kind of how it's built.
We take our health, like, it's nothing like being sick.
I'd say the upside is the momentum you get from the recovery,
and it gives you a sense of purpose,
maybe to reshuffle things a little bit
and take a serious look at your life.
I mean, so, I mean, being sick, there's nothing like it,
where it's just being under the weather.
But when you recover, I think you can use that momentum.
And so maybe there's an upside to it if you can kind of make it work.
Yeah, it's like, I guess it's like, it's like you're a chart, right?
When you get sick, it's like a pullback, you're a chart right when you get sick
it's like a pullback and it kind of depends
and then the aggressive buyback
you're the one in control
you know once that buyback
yeah there you go, brother.
Um, well, I'm glad you're back.
Thanks for letting me hang out.
Um, just let you, everybody know I did do, I did a stream today on my YouTube
So I did like a live stream today and I put out another couple chapters in my
quotes book, if anybody's interested in that.
Um, but I kind of just talked about, I mean, great comments so far.
And I mostly agree with equities looking incredible and um you know price is resilient absorbing bad news and
you know uh greed drives the market um you know bitcoin's steady it's consolidating maybe
frustrating for some people um it's kind of a different for me with bitcoin it's a question
of time frames like in the weekly chart it's just a a different for me with bitcoin it's a question of time frames like
in the weekly chart it's just a little minor pullback to that first moving average for me the
ema8 um it's been really the four hour which has only been the one that's been to hinting at
weakness with a minor up thrust in that first 4h ma200 tag daily you know uh daily ma20 middle bollinger um equally weighted 20 period and then you know
first ma50 tag so i i think i put out a tweet i was just kind of messing around drawing like
a rough ascending triangle in bitcoin um but that doesn't complete till like october
so it could be squiggling around sideways grinding around um i don't know i think it's
really hard to handicap like short-term movement I think all
you can really do is look at key price levels I'm you know for me I want to buy a dip in an uptrend
I'm looking at key demand zone for me uh for Bitcoin like around 96k I would love to buy it
88.5 I don't know if it's going to go there you know per se um but if we get another deeper
retracement of Bitcoin to that weekly 50 like like we saw the last couple times, that would allow for a massive move to the upside afterwards.
But it's just a question of how deep that consolidation is.
I think it looks like one's begun with the weekly inside bar.
I mean, this is probably just all academic speak to just the normie trader.
but it looks like there's a consolidation phase beginning which is fine which is good you want
But it looks like there's a consolidation phase beginning, which is fine, which is good.
to consolidate i don't like ethereum as much and just because the chart market doesn't like it as
much as reflected by eth btc pair you have a move off of the bottom there a mean reversion i still
think is likely to continue down with the trend i need to see much more evidence to think that's
turning around so i'm playing ethereum versus usd more skeptically would love
a dip to 21 21.50 i'm not saying it's going there that would still be logical that'd be fine um
you're looking at attempts to break 2700 locally but failed initial failures and a loss of a higher
low potential 24.50 so i see some weakness in the short to medium term in ethereum which would
posture me to want to wait for a deeper level to kind of buy a dip uh solana just grinding 180 zone to 145 and um you know you got
to be careful with altcoins you got to play the stronger ones there aren't many but um sometimes
the ones that's been really bad is kind of perking up and you can play that on a clean break and
defining your risk you know in some type of a move off the bottom like curve did at 60 cents and now it's kind of
throwing back that level um i've seen a little breakdown in momentum on suey so i'm a little
more cautious there so it's a kind of you know it's chart by chart of course uh dominance grinding
higher in bitcoin which means there hasn't been as much space you know for altcoins um you know
broadly speaking so it's still really just a chart by chart uh situation for me wabi
have you noticed that solana has um has acted quite differently compared to previous times.
Anytime the market has achieved any local bottom.
We look at Soul Cheds and it's kind of acting how ETH was starting to act
after BTC started to rip up, um, off of those FTX lows, it just didn't really act the same.
Honestly, it's just not, it's just consolidating. It is churning. There's not a ton of strength.
And it's kind of, for me, similar to Ethereum right now, which it's not bad, but it's not great.
Um, it's definitely not a bearish chart, but it's just chilling right now there's not a lot of mojo or or or you know
enthusiasm in my view but the chart high time frame is still pretty good quite good in fact
it's an uptrend it's the day lower time frames are consolidating there's no trend in the daily
which is kind of depressing if you're a trader but you still you've reasonable levels to work with
you know one you know and i just speak as a trader you're more of a big picture like you get the big picture more than i do i'm not smart enough for
that but i just decent levels 140 145 and 180 and then avoiding the chop in between stepping out
and seeing that the trend's still pretty good in the weekly for solana so let it cook a little bit, I guess, you know? Cheds, do you remember this one ticker from the 2017 style called Railblocks?
So that team actually ended up making another coin called KITA, tickers KTA.
and like the chart for KTA
it looks like a longer version
a more extended version of what Railblocks did
when they rebranded to Nano in December 2017
and then Nano went up like 100x in four weeks.
And it hit like four or five bill market cap.
These teams from previous cycles are starting to come back under different tickers.
And it's great to see some price action that's actually similar to that cycle.
A lot of people that have been here for multiple cycles often look at 2017 as like a much more cleaner cycle.
Well, that's because it was less bifurcated, right?
And I mean, why wouldn't a team come back?
I mean, what's the downside to launching a coin or wherever the heck they do?
I mean, it's all, you have these, you always have parabolic odds for them.
Like you, you start 20 coins and if one does well, then they a hundred X their money.
I just, you know, I don't know the exact numbers, but why wouldn't they?
I mean, there's still risk appetite.
You're still people buying, buying garbage coins or whatever.
And I'm sure there's good projects that are
doing well i don't dive into the fundamentals but the casino is still open so i don't know why they
wouldn't you know keep making stuff you know um it's just it's just gonna drain you if you play
bad charts and it's been like this for like 16 months i don't know you know i don't know. You know, I don't know if big altcoin season's coming, right?
You just got to play chart by chart, Wobby.
I know this one guy, Dan Larimer.
He's done, like, four projects already.
He's been in the space for, like, ten years.
Yeah, but do they do anything?
Like, what's the point? What does that mean? Like, has he created anything? but do they do anything? Like, what's the point?
Like, has he created anything?
Like, what does that mean?
So he was like one of the main code contributors for Ethereum.
Like, he was like one of the main guys.
And then he went on over to do eos and uh there was
one other project that was like huge um in 2017 and that specific ticker was like one of the
largest volume tickers one of the largest volume tickers um on bitrix i can't remember the name man but
uh oh steam it steam it that's the one steam it uh he did steam it and also uh bit shares
as well all right yeah he's done like four tickers in the last 10 years so
He's done like four tickers in the last 10 years.
So I guess people just love the brand name.
How many people are looking that deep and have any idea?
Aren't they just like most of them just reading messages in like chat rooms and just throwing money at the wall?
wall pretty much man yeah you know like you're way more discerning than i think like 99.9 of
the people i've talked to in this space so it's just like tell me what to buy is like how most
people like you know operate and it usually doesn't work out too well spread prometheus anything else you guys want to say
no i mean i largely i mean i largely agree with what chad's is saying um
yeah you have to be selective in this market, especially with the liquidity conditions being fairly thin.
I mean, you're seeing that on with what's occurring on Solana right now.
Like Solana on chain is getting literally cannibalized and has been cannibalizing itself for quite some time, which I've talked about on these spaces for months and months and months now.
for months and months and months now.
But if you're able to be selective,
if you're able to, yes, see good charts,
if you're able to understand narrative
and how and when it's going to fit in,
and if you're able to get in or find projects rather
and get in on them when we're reaching friction or friction points or when
the market really starts to heat up. And you can tell that through not only price, but also the
timeline, right? There becomes points. And if you remember at the end of 23, the beginning of 24, the end of 24, summer of 24, and earlier, really earlier this month,
there becomes points where things really start to heat up. People become agitated in the sense where
they're ready and willing to put capital and liquidity at risk. And if you're able to find and understand those timings,
and how they're going to work,
you're going to be very, very successful
And I really don't have much more to say, guys.
Honestly. Wabi, if you don't feel fine
it's not a problem to call it a night now
it's okay, you don't have to stretch it
it's already like an amazing effort
that you just opened the space now
maybe you just need more rest over the weekend
so you can come with full power next week
I appreciate it man um i actually have some soup in front of me so i'm gonna call it here
y'all thank you all so much for coming through cheds prometheus spread to you guys on monday
feel free to follow us guys this is your first time tuning in and all
that stuff we go live throughout the week um youtube show 11 a.m est called market check
focuses on all things ta and then um we have spaces usually at like 4 20 to 4 40 p.m est for
start time um i usually host these shows for at least an hour 15, an hour 30,
but yeah, I am completely spent, man.
But great show nonetheless.
I think this was pretty decent.
We got a lot of talking points.
So thank you all so much for coming through.
I'll see you guys next week.
Later. Thank you. you If there's anything you need, all you have to do is say.
Don't you satisfy everything you need, you shouldn't waste a single day.
So don't stop me falling, it's destiny falling, the power I just have tonight.
It's never changing just can't deny
It's never changing, can you hear me? I'm saying
I'll go to the heart and escape my life
Together forever and ever to pass
And I know to be together forever with you.
If they never get you down, there's always something I can do.
Because I wouldn't ever want to see you around, I'll always do what's best for you.
And if ain't no mistake and it's true, don't over make it.
Something to last for a long time.
It's never changing, as you hear me, I'm saying, I want you for the rest of my life.
Together forever and never too fast. it's What? What?
So don't stop me falling, and it's destiny falling,
a power I just can't deny.
It's never changing,. Can you hear me? I'm saying I want you to always accept my life. Together forever and never two miles. Together forever we do. And don't you know.