So right when we thought that the Bitcoin spot ETF was approved uh, the SEC came out and said that their ex account previously known as Twitter account uh got hacked. So what's going on guys, it's Ricky with techit Solutions hope that you guys are all having uh, a better day than me. um I was long on again I'm not going to uh, whine about something that is out of our control. uh, but I was up a lot more than what I'm up now so up $133,000 on the day.

A nice little comeback after my um, red day yesterday. I just I wanted to get your guys's thoughts on this whole thing. um I reduced my position size I start I was watching the market even after market hours I was watching it as it was pushing up uh I reduced part of my position at the higher 155 you know range and then I was like oh man should I buy more I didn't but then it pulled on back in two minutes it gave it all back I wanted I wanted to share this with you guys from overall highs of 15710 to overall lows of within the no, it was all within 1 minute. Overall lows of 14843 Um, it gave back in 1 minute that was one of the largest candles I've seen in a while.

uh, 5.5% and into the later uh, selloff it went to lows of 14675. it gave back 6.63 %. So um, a pretty wild move if you look at the overall highs and the overall lows a 6% move. If again, we want to talk about it.

So um, dude, uh, let's just go ahead and break this down. So the SEC account got hacked share an unauthorized treat regarding spot Bitcoin ETF So uh, going a little bit more into it I Mean it's as simple as it could get. Uh, there was this tweet that came out with kind of this picture and then a bunch of other kind. kind of like crypto accounts began sharing the same misinformation.

The crazy thing is that this has happened in the past before on Twitter and then now of course on X. But it says again today the SEC grants approval for Bitcoin ETF for listing. um for listing on all registered National Security exchanges. The approved ETF will be subject on ongoing surveillance and compliance measures to ensure continued investor protection.

And then it this like I I Think it was really creative how they put this all together. It says today's approval enhances Market transparency and provides investors with efficient access to digital asset. Investments within a regulated framework. I Feel like if Gary Guzzler would come out with a tweet to say something that would be very close to uh, what he would say himself.

Um, but as of right now, it looks like we're trying to see a nice little recovery coming back up to the moving average. Uh, where we were at at close was right around 152. Right now we're trading at 151 so it's still down a dollar. um from yesterday I'm sorry from its close but we we'll have to wait and see if we begin to, uh, see a steady recovery or if we get rejected by the moving average and end and it ends up getting rejected even further.

Uh, the thing that I quickly wanted to uh chat about was I feel like this only makes it more discouraging for this ETF that is pending approval for two reasons and you guys let me know down in the comment section. um what you think the first reason is I feel like it's going to bring a lot of it's kind of just like the what would you call it um, the idea that they got hacked and how it brings a lot of uncertainty into the space and how the the space can be easily manipulated when one simple message gets shared. I Think it really devalues this Bitcoin ETF approval. Second thing is I I think that it could really rub the SEC the wrong way.

Obviously it has nothing to do with this approval process. uh, but obviously it's not doing anything any good by having this tweet be published and it was a fake tweet and to see the type of volatility that it creates in markets and then the decision hasn't even been made right to my understanding in the next 24 hours. I think it was I think it's by January 10th that they were supposed to decide if this ETF was going to get approved or not right? They asked for that extension it has been Um, it has been approved to that time. and supposedly in the next 24 hours from the 9th to the 10th, we're supposed to have a better understanding if it's going to get approved or not.

Um and out of all days. right? out of all days when I've been short coin I did short coin this morning. so I did a really good job shorting coin. My position, um was healthy.

It was strong. I started off well. we kind of traded sideways for the greater half of the day. Uh, but we were showing a lot of signs of support right around 153, which is where I decided to go long.

we continue to B bounce at this 153 range. We rallied, bounced, rallied. It was kind of fun. Uh, going long on.

it was a, you know, a change of pace for things because I was so constantly shorting. um, shorting it right? then when this tweet came out I remember looking at my phone, it popped off and I just began reducing my position size after market hours I got really excited. um I don't even want to talk about how much I was up at one point. Um, let me tell you, there's a lot more more than the 15K that I'm up right now and a lot more.

And I was reducing my position size doing my part and then all of a sudden this sell off happened I'm just like hey that that you know I'll scratch in my head probably like many of you guys is okay. if this spot Bitcoin ETF has been approved, why would it sell off and my buddy was trying to tell me like oh this happens sometimes there's like volatility um with with crypto but I was like no like to give it all back and then some. right from where we started to where we're at right now I was like something doesn't seem right and then we hear the news of hey you know within our Lpp Discord people were bringing it up, different news articles and different news outlets talking about this X account. um, being hacked and ultimately that tweet not being valid and then obviously an overreaction.

on the downside and I was like dang it, what a beautiful time this could have been to have been short I probably wouldn't have shorted it anyways because hearing the news that it got approved I would have not been certain to short anything just because it's overbought because if you think about it, if this thing did get approved and within 3 minutes it popped up to highs of 157, you know who knows how high this could have gone. Could it have gone to previous highs of 180? Could it have gone to 200? Um I don't know and we won't know right? because it hasn't been approved and the S just simply got hacked. So I think that this is just going to put uh I think this is just going to put like salt in the wound for the SEC and for all of the members and Executives of that group. Um, when it comes down to this approval process I don't think it's doing it any good.

Um, and it's just something that we're going to have to follow up with. Um I Just wanted to go live and see if you guys had anything that you guys wanted to share yourself. um, where we can, um, talk about it with open dialogue. but um, yeah.

I mean that's that's really just it. Uh, a handful of you probably maybe not were not aware, uh that this was happening after market hours because alerts are not triggered after market hours. But I just wanted to make sure that um, when you do come across that information that you are aware of what now is going on and it just shows how powerful social media can be, right? Uh, a simple little tweet can literally cause Millions if not billions of dollars. Uh, and and those transactions to happen in a matter of minutes? I mean we're talking in about um, 6 to 10 minutes there was a nice push up and a nice push down just on coin.

Uh, not even talking about what was going on with, you know, BTC and it looks like Bitcoin um isn't doing too hot right now either, right? We aggressively pushed up to highs of nearly 48,000 and then we quickly pulled on back to lows of 44,000 Think about that. I mean that is a change of 3,000 for a Bitcoin that that's a huge range of movement off of fake news and then the reaction of it being valid as fake news. Um do you know who made the original announcement and who also reported it that it was hacked. To my understanding it was under the SEC account on Twitter uh or on X right previously known as Twitter uh is where the Tweet was released that that it came out like this, right? If I'm not mistaken, this was the Tweet says today the SEC grants approval for Bitcoin ETF uh for listing on all registered National Security exchanges and then it has this little speech by um Gary and it looked legit.

Obviously if you see it from the Twitter account, um I mean this has happened in the past before where there was specific CEOs uh promoting crypto coins. That was just really weird, right? right? And that it came out to be that those accounts got hacked. But um yeah, I mean that that's really just it. Who was the first account to report that it was fake news? I don't know I Think the SEC came out right away and tweeted themselves saying hey, we were hacked That tweet is not valid We have not approved this Bitcoin ETF Yeah and I think it's just going to create more scrutiny uh, towards the SEC and it's undesired scrutiny, right? Because you have to think about it.

I mean I Made a quick little joke about Gary but you have to think about it like these people are the ones that are deciding if this ETF is going to get approved right? The people under the SEC are going to decide if they're going to get approved and I'm seeing all of these accounts making um, you know, either making fun or poking fun at the validation or the validity of s the SEC and all of these officials known as Gary and it's like I mean it is funny on the surface, but if you think about what it's actually doing, um, to the overall big picture of this pending approval process, it probably doesn't put Gary and the other SEC officials in a very desirable mood to approve this. ETF because I mean it's not their fault that they were hacked and that's just you know, like straight up it's it's not. But it also probably doesn't feel good for them because now they're under a lot of pressure and under a lot of scrutiny because their own accounts got hacked when they had no control over that. So um, yeah, it's just it's a just a sticky situation and um, yeah.

I just thought that I would go live and uh, quickly chat about it so wanted to hear your guys' thoughts. uh I know a handful of you guys have been waiting for um this Bitcoin ETF to be approved. Uh, when looking at Mara it's down 2.4% after market hours which is more than what it lost during normal trading hours. we have Bitcoin selling off Mara sell um, coin selling off and a handful of others obviously because it's not going exactly according to plan.

So hopefully in 24 hours again things can become a little bit more clear. uh and we can have a better sense of direction. But for the overall NASDAQ Market As of now it looks like towards the middle of the day we peaked and we pretty much began to trade Sideways from there. uh, there is no, uh, clear direction of you know or what's what's it called.

As of right now we are above the EMA and we're above the moving average so it looks like everything has a clear direction to continue to move up as it's looking healthy. We just bounced off of that EMA we held above it. It doesn't look like it's tracing, but we'll just have to follow up with it tomorrow and especially on Thursday because Thursday is when the CPI data report gets released 1 hour before the Market opens. I will be live streaming it for free on my YouTube channel and again, all you have to do is subscribe.

So hopefully we earned your thumbs up on this video. Uh, feel free to share your thoughts down in the comment section and I Hope to see you for tomorrow's Live trading session which is the second link in the description down below. Feel free to check it out. Our discount is a little bit bigger than what it normally is and I think you'll find it as a nice little gift if you've been waiting to sign up for Lpp.

So I Hope to see you for tomorrow's live trading session. Until then, like always, let's make sure that we end the year on a green note. Take Care Team.