Bitcoin And Alts Collapse: Where I’ll Load Up (Hint: Very Close!)

Hey folks, welcome to verifiedinvesting.com. My name is Gareth Soloway, chief market strategist here. First off, this video is sponsored by Coinbase. They are awesome. I trade through them. We're going to use their charts today and we're getting close to some major entries in crypto as the markets are flushing here. This is a big wash out, big liquidity flush. And again, it's partially due to high rates and what we're seeing going on with risk assets here. There was some open AI news that just hit literally 20, 30 minutes ago where they came out with less revenue. Revenue, not earnings. Earnings, you can explain because they're spending a lot of money, right, to grow less revenue. That is a huge red alert. Now, you may say, why does that impact crypto? Well, it does because ultimately it's tied to the risk asset aspect. And that's absolutely what's going on here. So, just before we get into this chart and I'm going to give you the trade setups and give you everything, but just a reminder, we are brought to you by Coinbase as our sponsor. They are amazing. I'm going to be using just their charts today. As you'll see, I trade through them. I got my big money account through them. Everything there. Use the QR code. Sign up. They give you literally the tier one as if you've already traded over a million dollars for the month pricing. So, that's in fees. So, it knocks the fees down and saves you a ton of money on Coinbase by using our QR code. And when you verify your account, you get 25 bucks or something like that or or 50 or whatever it is. You can earn up to extra 275 just by doing some basic things when you create that account. It's remarkable, guys. Use the QR code or go to the link in the description. My point is the the fee savings alone on these next trades that I'm going to pull the trigger on, which will probably be million-doll trades, they will save me hundreds, if not thousands of dollars. Use it, create an account, save money, and make money in crypto. All right, let's get into it here, folks. The charts. Look at this. The drop today on Bitcoin down $2,700 to just above 80,000 if you've been following my analysis. And by the way, this is all Coinbase. I mean, this is these are great charts. They are literally amazing. A couple things. So, what we've been watching here on the charts is this trend line right here, which we're piercing at 81,000. If you even watched my game plan this morning, you know that I told you right here that this was the line in the sand. Now, we're piercing it intraday. Don't get too freaked out yet. We aren't breaking it. We don't know where this is going to close. We'll have to see at the end of the day, but that is something I'm watching like a hawk. I am actually intrigued by a quick trade. If it pierces 80,000 here to go long, you might be seeing this video later on. It may not be relevant anymore, but I think we pierce 80, then we bounce back to maybe 83. Then maybe down the line, we'll flush. And if you watched my last video that I did, um, I talked about how I was not okay with what I was seeing in the crypto structure of the chart. Not that the pattern was void. It was still a bullish pattern, but the riskreward wasn't good. And I was starting to see things that did not look good in the technicals, and that was the issue. And so far, it looks like that warning sign was correct here. All right. Now, listen, I want to be clear. It doesn't mean that I don't love Bitcoin later on. I still think it's going to $175,000. The question is when, and that could be a year or two away. In the near term, we're coming down here. This is the level to watch. 81,000 a daily close below. It opens up the door. Check this out, guys. It opens up the door to retest this low pivot at 75,500. All right. So, we know our two pivots. Now, on the upside, this was the level I was telling you guys about, right? So, if you go back to my last video or even today's game plan, I said, "Guys, we are stuck between resistance here. I'm going to change and you can change your colors. You can do all this awesome stuff. Let's do orange and yellow." So, we were stuck here, right? This was major resistance right right here up at this level. Bear with me as I move that around. So, we had major resistance and major support right down in this range. Now, which way was it going to go? That was the question. Major support. Let's let's put this in here. Now, remember, eventually a major resistance or major support does break. So, we have to monitor that. But right now, it's looking like support may be on the verge of breaking. If this breaks, this is your next target level. Now, again, couple things to monitor here. So, this was yes, a bullish consolidation pattern, but look at the difference in structure here. Number one, this was lower on the chart. It was just coming after a massive breakout that I did a video where I went long $5 million in crypto. Here's your trend line. This was your breakout trend line. It was an absolute beauty. So you can see high lower high or low high low lower high lower low lower high lower low then we got a new high right so you might say well isn't that bullish and the answer is yes net meaning over the bigger picture it is absolutely bullish but if you look at every past cycle in Bitcoin when it's bottomed and I actually believe that Bitcoin has likely bottomed but if you look at every last past cycle you get these initial moves and then you do at least a 618 Fibonacci Achi retrace. Listen, I study charts. I study data. That's what the data tells us. And so once we had rallied from like 58,000 all the way up to 85,000 or so or 88,000 in fact, you're starting to get into that area where okay, where's the where's the rug going to be pulled? Where's the liquidity flush? And we know this happens, right? People use ridiculous leverage in crypto. Um I'm not opposed to some leverage, but 300x on some of these platforms is ridiculous. like you are asking your your odds of winning are about 1%. I mean you might as well go to the casino and put it all in black or red. You have better odds. So the point is that type of stuff is going to happen. Absolutely. And what we can see here is that that is exactly what's going on. It's trying to bounce here and recapture this level right in this vicinity. We'll see if it does by the end of the day. Now if it breaks, we know we're going to 755. If that breaks, that's where things get real fun, right? If that breaks, let's get rid of that for the time being. That's where we start to retrace to what I call the neckline of the head and shoulder pattern. In fact, on this one, I want to actually make this white because this is the buy level. This would be So, if we look at this, this is between a 618 and a 786 Fibonacci. Look at this right now. I'm getting my fib tool out and I'm Oh, by the way, I'm doing this all on Trading View. All on Trading View. And what we can see is here's your 786 and here's your 618. Let me zoom in. All right. So, 618's here, 786 here. It's right smack in the middle of that level. Okay, so that gives us a zone where if we look at past corrective moves and again, I know people say always this time is different. I've heard that a million times. When silver was at $120 an ounce, I heard this time is different. And I still said, you know what, it might be different, but human nature doesn't change. Greed and fear drive the markets. That's what pushes it up. That's what pushes it down. And sure enough, we corrected on silver, right? So the point is is that when past bull market breaks, right? So when you go from the bare to the bull and you get these great rallies up, there is always a draw down of significance because what happens is people jump in at the end of it and lever up and they keep their stops down. Their liquidation prices are just below that has to be flushed out, right? Bull markets don't go from bare to bull and just go straight up. When does I mean think about this logically think about every cycle we've been in. When does the vertical move like the non-stop vertical occur? It occurs right at the end of a bull market. Not at the beginning. At the beginning, you still have these kind of leverage trades that need to be wiped out, but also people that are skeptical and that keeps people a little bit more hesitant. It's at the end when they go all in and they believe it and you hear the ridiculous, you know, I mean, I still remember in 2025 250,000 by year end, you know, that was the big one. And it's like, okay, when you're starting to hear that, it's the opposite. And sure enough, we did see the top back then as well. And we've pulled back. Sorry I'm so so pumped today. But I mean, literally, this stuff is awesome. And again, I do thank Coinbase for being a sponsor again, guys. And and listen, even if you don't have if you even if you have an account, go create another one and get the fee structure from Coinbase tier one as if you've traded a million dollars. Like you save yourself the fees, especially as we're getting action in crypto here. Like this is awesome. Um, so again, I might be playing a quick day trade here or swing trade maybe for a couple days, but really what I'm eyeing is this 755 level and then if we ever get back and I think we are going to get back to this 6667,000 level, that is the money spot. That is where I will be absolutely loading up. I want to show you something else. If we take this trend line down, all right, this kind of comes down in this vicinity as well. All right, that's one of the things I'm watching. And also if we let me see if we also look at this pivot low right through here you can see this is going to be another little bit of resistance right in this vicinity but again that will give me some credence to maybe inch into a trade right on that point on Bitcoin. Now again like I said what's causing this? Well high yields are tough on Bitcoin just like on gold. Uh that is causing an issue. It's giving people an alternative like buying the 10-year yield. Now many of us would say ah I don't want to get involved in that. But there is big money that has been in crypto that's might be saying, you know what, I can get, you know, 5% now, 5.3% on a 10-year bond. All right, I'll take it there. There's absolutely some money that's doing that. Then you have other scenarios, too, where you start to get people that, you know, they're starting to look at the core structure of the AI trade I mentioned there, starting to break down, and that's a sell signal as well. And I'm just keeping an eye on Bitcoin because I want to be able to trade it if it comes in here to the level uh that we're watching. Now, I do want to catch get up to other other charts out there because I have other levels. So, just to be clear, quick day trade. If today we come down and pierce 80,000, I'm going to look for a bounce back to this interim level around 83,000. That's just a quick day or one or two day swing trade. Next, I'll be looking for a longer swing trade off 755. And my buy and hold level is 66 to 67. And again, just to repeat, right? So, and people always are like, "But you did a video the other day that like you said, oh, it's going to 175,000." Dude, time frame matters. I still am a believer in Bitcoin. Doesn't mean I have to be dumb and think that it can't come down in the near term. Like, wake the hell up. You know, this is this stuff drives me nuts. Like, like people understand that nothing goes straight up and nothing goes straight down. there are always bounces and such. And so, as a trader, I can maneuver in the near term while looking for where it's going to go in the next bull cycle. Understand that. If you understand that, you literally free your mind and you'll become wealthier for it. I guarantee. I mean, it's just a no-brainer, right? All right. So, anyway, sorry to digress and get kind of off on a tangent there, but these type of things are unbelievably important to understand, right? So again, net bullish, next bull cycle coming up over the next one to two years, we're going to hit 175,000. That's in the stones for and listen, nothing's in stone, but for me, that's what I believe. In the near term, I honestly think we're going to 755. I'm going to do that quick little trade at a pierce of 80, just a quick one day or an intraday trade. Then I'll start nibbling at 755. And if it goes to 6667, that's where I put the majority of my funds in Bitcoin. All right? All right. And I'll do it right here on Coinbase, guys. Again, Coinbase publicly traded, 50 plus billion dollar market cap, like monstrous. Um, giving you tier one fee structure if you use our QR code, um, or link to sign up. Um, also the bonuses if you complete things on there and so on and so forth. All of these things, it's a no-brainer. And again, I do thank them for giving you guys these these deals. Like I mean it's it's basically free money because I mean most people aren't going to aren't going to be trading a million dollars in Bitcoin uh per month on Coinbase, right? I mean so to get that fee structure is really important. All right, so let's go to some of these others. How's Ethereum doing? Get in crushed. Look at this guys. Key break line here, but that's okay because we have another structure right on this level where we're coming down to. Okay, this is going to be the potential buy level on ETH. Keep an eye on that. Let's go into So watch that. If that breaks, by the way, you're coming all the way down here. This is where I really accum. So, I may nibble here, but again, this is where majority of my buy is going to be sitting, right in this range around basically anything below 2,000. All right, let's continue on here. Um, Zcash. Zcash is on my radar, guys. Um, I actually like Zcash if it gets below,00 here for a near-term swing trade. There's a big level here. Let me just uh let me get rid of that. Don't need that that right there. We'll get rid of that. But if we go here and zoom out on the charts on this, take a look at the structure that it's starting to form. And I'm trying to remember. So you take you these key pivot highs, right? So if we take these pivot highs and we drag it up, I like this spot right here. In fact, we kind of kissed it right there. I'm hoping it breaks 1100. Then you also have all this sideways chop. So this is going to be an area for a bounce. The bounce probably takes us back to 1300. Gets through there. Now, we're starting to talk about this vicinity right here as your next key level. And this is where I would start to to buy more significantly on Zcash right into this level right there. All right. So, first little nibble for a swing trade. Maybe a pop back to 1300. Breaks here. This is where I buy for a longer hold with an additional ad down around 675. Don't know if it gets there, but the key is do you have a plan? XRP, guys. Great drop on XRP here. This is going to be first support around 125. I will be a more aggressive buyer down here. Look at these pivot lows here. 115 is more my aggressive level. All right, I could go on and on, but let's look at Salana real quick here. Salana breaking key support. My first level of interest here on Salana. Let's look at it. Let me analyze this chart. So, a couple things. I just draw my trend lines in. So, this is number one. We don't know when it'll come down here, but this would be significant. Then I'm also seeing that you have a secondary structure right through here. So this now becomes my my major buy zone. Basically 88 down to about $85. This is my big level for wear. Now listen, there'll be swing trades in between here. This is my bigger accumulation zone right down here as well. All right. So, um, and listen, just a couple notes here as I get ready to put out some trades and some limit orders and such on in my Coinbase account, which by the way then goes into the Smart Money crypto account for crypto, my crypto subscribers at verifiedinvesting.com. But basically, I do limit orders. I don't do market orders. You get screwed on market orders. Um, in addition, u you become a a maker, not a not a taker, which is even better. Plus with the fee structure, it just reduces the cost to be able to trade on a legit platform like Coinbase. And you really can do anything you want here at that any other major. Like I mean you you show me Coinbases order entry. I don't know it from any different from TDMIR trade uh trading stocks or IBKR all those. It's it's it's phenomenal. So uh that's all from me today guys. I got to get going. But thank you so much. Let's watch and trade and make some dang money here as things come in. I love the action. And I know it's not great for a lot of people, but this gives us opportunity. Remember, people look at it price going down and say, "Oh, this is horrible." I look at it and I say, "Bes is it's like it's like my favorite pair of shoes going on sale." I'm like, "Yes, here we go. We get to load up. Heck yeah. Talk to you later. Take care.