Bitcoin Hanging by a Thread: $67,000 Next?

Hey folks, welcome to verifiedinvesting.com. My name is Gareth Soloway, chief market strategist here. And in today's video, we're going to deep dive into the crypto markets, looking at the technicals, what's going on here, because Bitcoin is hanging on by a thread to my key $75,500 level. And again, folks, if this level breaks, we're likely headed down possibly as low as $67,000, which would be an epic buying opportunity per the technicals. We'll also look at a few other cryptos like Zcash, Ethereum, and a few of the other big ones, maybe Hyperlid. But as always, folks, we try to focus purely on charts with no BS. Just a reminder before we get started, guys, this video is bought brought to you by Coinbase. Coinbase is sponsoring us. Thank you, Coinbase. Seriously, it's one of the reasons why we have such a great staff, why I'm able to do these videos for you so often. So, again, always want to give credit to our sponsors. And just a reminder, guys, if you sign up for Coinbase, you get tier one pricing. Tier one pricing means massively um lower fees, right? So, basically, it's the equivalent as if you traded a whole $1 million in crypto for the month, but you get it instantly, which means your fees go rocketing down, uh literally saving you probably hundreds, if not thousands of dollars a month in fees. And what's even cooler even so you can do that as a new account or you can also if you've been idle for 30 days just join you can you can go through this same same QR code or the link in the description and you can join as as even if and get that same tier one pricing if you've been idle or if you signed up under someone else's you can actually switch and it'll show you how to switch to me and get that same tier one pricing and that's just awesome folks. Listen, no one should pay high fees. I'm I'm anti high fees. Um, and I I appreciate Coinbase for hooking you guys up uh for me and also giving me tier one pricing, which is great. Although I do trade over a million a month in volume. But either way, guys, use it. It's awesome. Take advantage of these type of deals. Every dollar saved is a dollar that you get to invest and potentially grow. All right, let's get into the crypto markets here, folks. Taking a look here. This is where we are on Bitcoin. And by the way, I'm charting everything on Coinbase today. It's almost identical to Trading View, which I love. But you can see here these are my three levels right and in fact we should really change this now right so this should be changed to uh resistance now right because it's technically broken so let's do that together now on the chart resistance so now we have now brought this up to be resistance and what do I mean by that well very simply put what we had was we had support here right we went up resistance down to support resistance down to support and then resistance and We broke out. We then established a new resistance. Came down, resistance again. And now what was formerly resistance became support, support, and support. We then broke down and now it's resistance. And then we hit support and resistance, right? And back and forth here. So again, you can see how the chart is literally dictating the moves here beautifully. Back and forth, up and down as we go. And I think it's important to recognize that you can very clearly see how this is working, right? So if we take this and we take a look, we can see this level here. Okay, this level right here as well. Let me lock this in so we can keep it on right here. And this level here is the level that if we break it, right, if we break this level here, okay, and we take that out and again I'll just I'm not sure what's going Oh, I locked it in. Dur dur. But in any case, if we break it in there, we can get rid of those. If we break this here, then we go down and I'll show you the level I am watching here on Coinbase. Let's put a trend line right in there and we'll drag it across. And this is, my friends, this is where I honestly think Coinbase is headed. All right. Now, I know no one wants to hear that, but there's a couple issues here that we have to pay attention to. So, number one, is this the beginning of a head-and shoulder pattern? It's possible. that's bearish. Um, the fact that we've been hammering on this level is a little bit on the kind of the nerve-wracking side and we keep on as we see potentially breaking to the downside. All right, it hasn't broken yet. It looks like it's getting saved today, but it is a big concern here that again we are still knocking on this level. I would also point out that technology stocks, the AI trade is bouncing a little bit today and and and Bitcoin is not. And so that puts me in a a concerned area. Now, we're still technically holding support, but we have not again gotten off the mat. It's still on the mat. Bitcoin's barely holding on to 755 right now. Literally trading at 756. So, it's barely above. I don't want to see a daily close with confirmation below 755. All right. So, that's number one right there. as we continue through. And if we go back to the chart again, why am I looking at that level? Because very clearly this 67,000 pivot high pivot high. In fact, if we go back to this, what kind of pattern was this, guys? You guys know this pattern. I know if you've been following me, you knew that pattern. This was the pattern that had me long Bitcoin going into this when no one else thought it was going up. I spotted this bull uh inverse head and shoulders and boom, to the upside it went. We made a lot of money. In fact, we're almost up $300,000 on our million-dollar portfolio. And that's with no leverage. I mean, people can claim that they made a ton of money um and in smart money, you know, or or in crypto in general, and then you're like, well, you know, how much is in your Oh, I put 10,000 in there if I just use 100x leverage. Okay. Well, that's not impressive. That's not impressive. Um, you know, basically, if you don't make 100 I mean, making 10% on on no leverage is the equivalent of making 100% with 100x le, right? I mean, it's it's it's it's you have to put it spades to spades, and that's a key factor there. All right, so that's your Bitcoin analysis, guys. Again, watch this level. This is all that matters. 755 and 81,000 to the upside. We break above 81,000. That would be very good for the charts. That would give me a bullish bias. Right now, I'm more neutral to negative as we continue to hold this 755, but barely hold this level. All right, so let's go on. Let's jump back here, folks, and we can take a look here. Uh let's go down to this chart on ETH and we can expand expand it out for us so we can always get the charts bigger. And we can see very clearly here that ETH tried to get a bid and break back above and it failed ultimately. And again, I'm going to get rid of these for the time being. This is the level that matters. And what we've done now is we've come down on ETH where we're now back below this key level right here of technical support which opens the door to us going down into this level here at basically a pierce of 2000. And this, my friends, is where I am buying. So I'm giving you the keys to the castle. Like literally, I'm a buyer. When we get down and pierce 2000 on ETH, I will start accumulating it. It's a great technical support zone right here. That is the level that I would generally expect ETH to go to. All right, looking at a couple other charts here. We can go to Zcash. All right, Zcash. Here we are. Zcash is still holding this ascending trend line. You can see again, this is a beauty right here. And we talked about this in the last video. You can even extend it right back there. But ascending trend line goes right through that pivot low right there. And again, I still think, listen, it's still holding, but I'm looking to buy this level right here at around 875 880. Again, a flush in there would get me involved. I would add at this level. Now, notice how I'm not overly bullish on crypto. Um, mainly only because Bitcoin is not the chart on Bitcoin is concerning. Now again, we have to respect the fact that it hasn't broken technical support yet, but at the same time, it's one of those scenarios where, you know, it's it's, you know, it bothers me that it's not catching a better bid, right? Gold's had a good bounce, right, recently, right? We saw gold over the last couple days. Um, Bitcoin has not done that. Um, that is a concern to me. And again, the fact that it's not up today even with the AI trade up, why isn't up today? So, so gold went up when the AI trade went down. Okay, so it's kind of a money flow safe haven thing. Bitcoin didn't. Um, today gold is down a little bit. AI stocks are bouncing. Bitcoin isn't. What's going on here now? Is it a hangover from the Democrats winning and maybe potentially no chance of clarity? Yeah, maybe. But to be honest, I actually think the Democrats potentially being more regulatoryminded is actually a net long-term positive for crypto. And a lot of people disagree on me with this on me and I get that. But my thinking is there were so many scams in terms of memecoins and Trumpcoin and Melaniacoin and all this other nonsense that went on is you need you act to for crypto to really become mainstream. And I'm not just talking about Bitcoin. I'm talking about all of crypto to be fully mainstream. You have to get more regulation. There has to be better rules. You can't have scams. You can't have stuff like what what went on the last year. You just can't. All right. So, again, just keep that in mind. At least that's my personal view. Either way, I still love Zcash. I just want to see it come lower. To me, this What kind of pattern does this look like? Right? If you're looking at this, what kind of pattern is this? Looks like a bare flag, which means I would be a buyer here at around 8.85 or so. All right, 880 give or take. All right, let's go to a couple other coins here as we go through. Here's Hyperlid. Hyperlid again continuing to just chop sideways. Had that good news that drove it up. It went literally right to double top. Look at this, guys. Right here to double top and it got rejected back down. Now, I'm watching to see whether or not it's going to hold this level. Look at this level right here, guys. If this breaks, this is where we get our buying opportunity. A break here, which by the way is also right through this area, right? Draw this line across. You see that? That's remarkable there. A break of this and it falls all the way down. I would start getting interested around $50 or so. All right. By the way, this actually looks like it even extends out here. You could argue, well, maybe not. Well, actually kind of because you can see low pivot and then these high pivots match up with this right there. That's almost perfect. So, yeah, you could argue that that works out right there. All right. In other words, a lot of these charts are not particularly bullish right now. And again, people may get mad at me for saying that, but I'm just, you know, it's it's what I see in the charts. When it's bullish, I tell you it's bullish. When it's bearish, I tell you that's that's what the charts are signaling um across the board. All right. So, again, watch crypto here in the coming days and weeks. Um I am along with smart money crypto people a little bit, but overall, nothing crazy. Um here we have chain link. chain link. Look at this very clear support area right here. In fact, you could see how on chain link, it goes right through there. And that's what you're holding. If this breaks, this is where I buy chain link, right down in this area here, right around 875, give or take. So, lots of good support on that front. All right, going through I mean, listen, I can go through a dime a dozen of these. Near Protocol, uh, slowly coming in. Near protocol is very easy. This one's an easy buy right in this area right here. So you're looking at around three bucks. Right around three bucks. This looks really good. Former high pivot retrace. I would be a buyer right there. And again, I could go on and on, but the bottom line is here. I want to just mention one thing, guys. Going to the Binance hack. I I will say this is that, you know, you know, Bitcoin or C or Coinbase gave me a bunch of talking points. And again, I always I always do what I want, right? My my number one is to make sure that you guys get everything out of it. But I will say that Coinbase to me uh everything that I know about them, everything that that they have in terms of regulatory stuff makes them so much more secure than than even a Binance. And when it comes to my personal crypto, and we're talking a lot of money here, um the security is of the I mean, after what happened with Binance, the security is number one to me. All right, listen. I can trade crypto on a zillion platforms, right? but where is my million plus dollars going to be housed where it's safest, where I know that I can sleep at night. And so, not only will they give you tier one pricing, but again, they'll give you that ability to have to sleep at night, which I and which I appreciate. So, thank you Coinbase for that. Thank you for being a sponsor. You guys are amazing as always. I will keep you posted. Uh, watch that 755 level, guys. That is the only level to me that matters. Remember, a daily close with confirmation below opens the door to 67,000. There's your QR code if you want tier one pricing. Remember, even if you signed up under someone else, you can switch under me and get tier one pricing. And you can also, if your account's been idle, you can just use that even. So, even if you have a current account, switch over, man. Get the tier one pricing. Save money. That's what it's all about. Have a good one, guys.