Ibrahim | AI x Crypto

No daddy money, No elite degree, No network, No starting capital, No safety net, Just 2 balls to conquer everything. Don’t compare yourself with others.

$ETH just gave its highest weekly close against Bitcoin in 11 weeks. Bullish for Altcoins.

Most traders don’t fail because of one bad trade. They fail because they start the challenge with no risk plan, no rule clarity, no max loss limit, no strategy for bad days, and no idea how they’ll behave after a loss. The failure usually starts before the first trade is placed.

Bitcoin just gave its highest weekly close in 5 weeks. BTC closed above the 200-week MA support for the third week in a row, showing strength even as the Nasdaq 100 fell more than -4%. Key levels to watch: Resistance: $67,000 and $83,000 Support: $58,000 and $49,000 What the chart shows: - MACD has turned bullish. - RSI bullish divergence is still valid. - Stoch RSI is showing positive momentum. The bullish engulfing candle from three weeks ago is still holding. And It has appeared three times this cycle, each followed by a strong rally. Two possible outcomes - If BTC holds above $58K, it could break toward $67K and then $83K. - If BTC closes below $58K on the weekly chart, the next support is around $49K.

Thread: how I think about the growth of AI capabilities and what it means for us as they keep getting stronger. I think the right model for comparing humans and AI is not any single dimension like intelligence or aggregate performance on economic tasks. Rather, I view both humans and machines as having a whole range of capabilities. This includes both physical (eg. doing things with our hands, walking) and mental (eg. strategic thinking, mental math, emotional intelligence). For most of human history, machines have only exceeded us in very few areas, eg. a strong early example is water and windmills. So we can look at the situation in 1500 like this:

🚨NEXT WEEK COULD PAVE THE WAY FOR THE CLARITY ACT. In 3 weeks, the US Senate leaves for August recess. There are a total of 15 sessions left, in which the CLARITY Act could get passed. 5 of them next week. Congressman Bryan Steil said he is optimistic the CLARITY Act will pass next week. There might be SIGNIFICANT progress next week. And my subscribers know how to position for that.

DON'T ASSUME THE FIRST DIP IS THE BOTTOM. In 2022, Bitcoin sold off in July... Then rallied just enough to convince everyone the worst was over. The final flush came weeks later. Is the market setting up the same trap again?

This was a huge week for crypto. 1. Bitcoin hit a 1-month high of $65,500. 2. ETH broke $1,900 for the first time in 6 weeks. 3. BlackRock bought $204M in BTC this week. 4. Ethereum ETFs bought $105M in ETH this week, the highest in 11 weeks. 5. ETH/BTC hit a 2.5-month high. 6. CPI and PPI inflation dropped to a 3-month low. 7. Japan passed a bill to legalize crypto ETFs, while South Korea recognized crypto as a "national asset." 8. Morgan Stanley ($9.3T) filed for SOL and ETH spot ETFs while rolling out crypto trading.

You wake up to this, What would you do next ?