Crypto Technical Analysis Bitcoin Ethereum Solana

[00:00:11]Hey folks, welcome to Verified Investing. My name is Gareth Soloway, chief market strategist here and today we're going to dive into some Bitcoin analysis. There's some key bullish setups that continue to have me long the cryptocurrency sector here. We're also seeing the semiconductors beginning to bottom out and bounce beautifully. I think it's a short sustainable bounce on the semis before another leg down there.

[00:00:36]But I think money is beginning to rotate back towards crypto. And the best example I can give is that if you look at the S&P, NASDAQ, gold, and silver, Bitcoin when you compare it is the best performer over the last couple weeks.

[00:00:50]Now listen, a couple weeks doesn't really matter, but considering the money flow from semiconductors has been going out, that is bullish to see Bitcoin moving back up. So, we've seen all coins putting in some bullish patterns as well. We'll look at a few of those, but let's jump right into the chart.

[00:01:07]Actually, before I do that, just a reminder, guys, is that I have Gareth's top squad here. And the reason I mentioned this is I did a video just for members this morning giving them Oracle, giving them the semiconductors that were gapping down today. Some of those semiconductors are up 10% off of their lows already. It was a homerun video just for members today. Incredible stuff there. All right, so again, you get about one to two videos just for you as part of Gareth's Top Squad. And then you also get a discount code every weekend.

[00:01:38]and I'll be putting one out on Sunday uh with a discount to verified investing.

[00:01:43]I've been doing big discounts of like 20 plus% off of a service or a course. So, it's pretty cool and one comes out every week. All right, so that's Gareth Top Squad. You can find the link in my description or simply just go to my main YouTube page. All right, so if we look at this here, we can see Bitcoin was down early, has come back and turned green. What I'm liking about this chart here shortterm is that we do have this kind of consolidation pattern that we have broken above. Right? So if we look at this and we zoom in high pivot to high pivot we then kind of came up here came up here got rejected then surged again broke out and we are holding above this line. It's also what I would consider to be an inverse head and shoulders which is a bullish technical analysis pattern right here. And we could see right here, there it is.

[00:02:37]Shoulder, head, shoulder. And again, that's a bullish pattern is an inverse head and shoulders. We break out and as long as we hold this neckline right here, then this looks very, very bullish to me on Bitcoin. All right. Now, listen. If this fails here and we go start breaking down and we take out these recent lows around 62,000, then we may retest the lows and the pattern may fail. But right now, when you're just looking at the purity of the chart, this is a bullish chart on Bitcoin in the near term. Now, if we zoom out on the chart, it may not look so bullish, right? If you zoom out, remember, time frame matters. It's really, really important. Time frame is everything because you can have bull moves in the near term, but still be in a bigger bare market, which is where I think Bitcoin is at this time. I think Bitcoin is so bearish, the sentiment is so bearish, it's it's almost bullish, right? And that goes like think about Micron and SanDisk that were at their all-time highs a few weeks ago. The sentiment was so bullish that it was bearish, right?

[00:03:37]And we've seen those things collapse 30 40% off of their highs. So in any case, keeping an eye here on Bitcoin looks good in the near term. The bigger pattern on Bitcoin remains weak.

[00:03:49]Granted, we continue to kind of hold this general vicinity right down here.

[00:03:53]But if we were to give way below this 58,000 level, we probably at least test this low around 50,000 right down there, which is also this high. Notice again, if we look at that, you can see again here this high right there becomes that low. And therefore, that should tell us that when price comes down into that range, and I'll just bring it all the way over. There we go. This will be the next support level. So again, just to summarize, short-term bullish with a bigger negative bias over the next, let's say, 3 to 6 months. But again, relief rally is very, very possible here in the near term. One thing to kind of keep an eye on as well, if we look at the chart on Bitcoin here, I'm watching a couple key resistance levels. This would be one of them here, which is my upside target of this inverse head and shoulders. And again, that would be right around 7172,000.

[00:04:48]I want to show you this, guys. So, if we put in our neckline, and this is how you calculate the inverse head and shoulders pattern at the target, right? So, we put this in right here. Okay? Right there.

[00:04:59]That's where it should go. You want to connect right there to there. We then do a measurement. So, this is what's called the neckline. And just a reminder here, we have uh let me get rid of that. Here we have shoulder, head, shoulder. Okay.

[00:05:13]So to calculate the target of an inverse head and shoulders or a head and shoulders, you take the lowest point of the head. You shoot a line vertically up to the neckline and then you take that and from wherever we break out, that's your upside target. So right here, this would be about 71,500. Now you might say, well, it's not at that line. That is true, but think about this. If you look at this and we extend this out, we know that charts don't go vertically.

[00:05:40]Like look, we've already pulled back here. So now if we go up here, then we pull back, then we go up here, then we pull back, and we go up here. Well, guess what? Now we're at target. So, so because time, it's not linear, right?

[00:05:52]It's not like a vertical move up, and you've already seen it roll come back and retest because it takes some time to get there. That actually coincides, which gives me more credence that that's probably going to be short-term resistance. All right, so again, bullish on Bitcoin near-term here with a bigger inside of a bigger bear until proven otherwise. We have the same sort of pattern here. Here's your shoulder, head, shoulder. You broke out. You've done a classic retrace right there.

[00:06:18]Retrace to the scene of the crime. As long as you hold basically above 1,800, this is a bullish breakout pattern on ETH upside target calculation. Let's do that right now. Draw that right up from the breakout point. That gives us a $2,150 target. So, that looks good as well. Let's look at Salana here as we continue through. We'll do SoulUSD.

[00:06:40]We'll look at it on Coinbase. There we go. Um, so this one is different. It doesn't have an inverse head and shoulders, but it does have a bullish breakout of this longer term trend line, which is interesting because Bitcoin and ETH still have not broken out of this, right? They have not broken out of this trend line versus Salana actually has.

[00:07:01]And one of the things I pointed out in the last video is that you had your low here and a higher low. If you look at Bitcoin, this was a lower low on Bitcoin. And so again, that is showing relative strength in Salana. It's one of my favorite coins right now as again we've broken out. Now we're consolidating essentially digesting the move. Okay. Then and notice where that digestion is coming in. The digestion is coming in right through this midsection of this area. Right? So all of this sideways chop over here becomes resistance. Well, if you extend that out, look at that right there. Price went up. it hit the midpoint. Boom. Gets pulled back. So, the next move up, we want to see it break out above 8375.

[00:07:43]If it does, where's your next stopping point? See, this high matches this high right here at around $9798. We'll call it $100 as a target. That would be your upside target on Salana. XRP, let's take a look at that one here real quick. XRP, same thing. Beautiful, incredible wedge.

[00:08:02]And remember, the longer and tighter the wedge, the bigger the the breakout or breakdown. In this case, this wedge goes all the way back to one year ago. This is the July high here. Here we are in July. The bottom of it actually goes all the way back to February of 2025. But it kept price squeezing, squeezing, squeezing. Guess what? Breakout retrace.

[00:08:24]Now we're looking for this next move up.

[00:08:26]And what you can look at here is this could be an inverse head and shoulders, too. It hasn't broken out yet like some of the other ones, but you have your shoulder, head, and shoulder. So, you need to curl up. We need to take out that next trend line, right? So, what we do to find our neckline, we connect our armpit to armpit. That's what I call it.

[00:08:45]Um, and there you have it. So, this is it. And look at how it tested here. If we can break through this, we should get that next big move. Upside target would be 129 shortterm. Let's see if that's what matches up with the measurement.

[00:08:58]Let's do a measurement here. Vertical move up. And then where did we break out? We broke out. It's actually higher.

[00:09:04]Look at that. It's a little higher. The target's even higher than this, which is kind of interesting because look, you go right into this area right here. Uh your target's going to be up basically a buck 34 to a buck 35 on the inverse head and shoulders. All right. And again, in smart money crypto, which is a service where I show my live account uh with total tokens, like you see the tokens, you see you see really everything um in the portfolio, right? see what am I long or short. You see the tokens amount. You see the total cost amount. You see my entry price. You see my live P&L. That's smartoney crypto at verifiedinvesting.com. So that's pretty cool there. Um we'll go into some other charts here. Uh before I do that, I just want to make sure you guys make sure to take note of these guys because they are that awesome. Rumble, folks. Rumble wallet is the wallet that I love. And again, uh they are a sponsor so they do pay us which is appreciated because I got to keep the lights on. in our 15, what do we have, 15, 17 employees, whatever. I think we just hired another couple employees. So, it's really, you know, we're just growing. Uh, I want to just become better and better for you guys. Um, not just me, but all my other traders and everything we do here. But, in any case, um, Rumble Wallet makes getting crypto uh, buying cryptocurrency super easy. Click of a button on your app on the Rumble Wallet. It's backed by a $2 billion company, which is Rumble, at least two billion at this point. I haven't checked their market cap in the last week or so, but either way, fantastic there. You can also buy gold via Tether, right? And Tether obviously, uh I don't know if you guys know, but they actually hold the physical metal, which I like. I don't like companies that you can buy paper gold, but it's not backed by anything physical, right?

[00:10:38]Um and really at this point, you could just do everything in there. Gold, crypto, swing trade, and there's verified five. use verified 5 to get a free $5 um in stable coins in that wallet. So, check that out, guys. Uh you have the QR code right here on the screen or the description. In the description here of this video, you'll see the link to get that. All right, let's get back to some charts here. I'll take that rumble off the screen. Let's go through a couple others here. Hyperl, let's see what's going on there today.

[00:11:08]Hyperlid, I gave I last video I said, "Guys, it broke down. It might retrace and then it's going to get slammed." And that's exactly I mean this is chart 101.

[00:11:16]I mean this is low pivot low pivot low pivot all these low pivots finally breaks it does a retrace and it gets rejected. That is textbook technical analysis. Where is this going to go?

[00:11:28]Well you did hit some small support here. If it continues down you're looking at around 53. I would even be looking at this as a buy target right around $49 to $50. Notice long-term trend line. If we come into it we should get some sort of reflex bounce. Cardono.

[00:11:43]I know people always tell me Cardono. No one trades Cardono anymore. Frankly, I don't care. If it's tradable, it's tradable. This doesn't really have an inverse head and shoulders, but at this point, what I would do here is I would say I still expect one more move up to about 22 to 24 cents. And if we look at that and we extend it out, look at this.

[00:12:02]It starts to all converge. So, high pivot to high pivot. All right. And over the next, let's say month or so, these lines will all converge. And my guess is somewhere over here we get in. So this would be in August. Basically in a month from now you probably get up to 22 to 24 cents on Cardono. Now obviously if we take out the low here that's off the table. But right now that looks like a decent target. All right. Looking at a couple others out there. Let's look at Zcash. See how Zcash is doing. Zcash interesting. All right. So Zcash has broken back above. So notice it was support bounce hits bounces breaks down.

[00:12:39]Then once we break support, what does this become? It becomes resistance. So up it goes, resistance, rejected. Then it comes up here, tries to get rejected, pushes through. Now this is trying to establish itself as support, which opens the door to going back to these highs.

[00:12:53]So this is actually again, I want to see it hold this level for a few days. If it can, then I think you're heading back up towards 700 on Zcash. All right, so that's pretty cool there as well. I can bring up this and we can look at a couple other crypto pairs real quick.

[00:13:09]Let's look at uh let's see here. We'll look at XMR. XMR is holding technical support here. I don't really see anything on that one whatsoever. It just kind of a a mediocre chart at best. Uh a here again kind of crossed above.

[00:13:24]Nothing new, but great bounce on that.

[00:13:25]Fantastic move to the upside. Oo, Suie.

[00:13:28]Sooie is trying to break out here guys.

[00:13:30]Look at this. So Sue here you do have an inverse head and shoulders shoulder head shoulder. It hasn't broken out yet. It tried. It briefly closed above and then it got rejected. So right there we can break through this 75cent level and confirm. I think Sue has let's do a calculation for those of you out there that want to know exactly. And by the way the target is you know it should hit. It doesn't mean it has to. Always remember that. But let's just say here this would give us a 90 target on that which isn't bad percentage wise. That's a pretty solid move. And by the way, it can go higher than that. It just means once it achieves that, the target from the inverse head and shoulders is complete. Then you can have bulls running it higher and that's fine as well. All right, guys. Listen, I got to get going. But as always, you guys are rock stars. And thank you guys for supporting me. Whether you're in Gareth's top squad or just someone who's casually viewing, I do appreciate it. I appreciate your kind words in the comments. I do my best to read every single one of them. I try to heart them in the very least, if not even respond to them. So, thank you guys so much.

[00:14:29]Have a great rest of your day. Have a great weekend. I'm off vacation. I'm going going going home. So, I'll be back in the office next week. You guys again.

[00:14:37]Have a great one. I'll talk to you soon.

[00:14:38]Take care.