Bitcoin Warning: Why BTC Hasn't Bottomed — Plus ETH, SOL, XRP & Altcoin Targets

追加: 2026-05-06

[00:00:09]Hey folks, welcome to verifiedinvesting.com.

[00:00:12]My name is Gareth Soloway, chief market strategist here. Now, in today's video, let's deep dive into the crypto markets.

[00:00:19]What's Bitcoin doing? Is it going to surge up or is it getting ready to flush out? Where are the altcoins trading?

[00:00:26]ETH, Solana, XRP, let's look at them right now. So, first off, let's start with Bitcoin. Now, what we can see on Bitcoin is that after the last big drop that went from January of 2026 all the way down to early February, we've kind of been in this very much sideways choppy zone. Now, what's interesting is you can take the lows and you connect them and then look at how a parallel line to that. Notice again, this is a parallel line. I drag it up and look at what you get. You literally get the recent highs on that same portion. So, this tells us that we're trading in a range, an up-sloping or ascending parallel. And this also tells us where our resistance is going to be as well as our technical support. Now, in the near-term, this gives us kind of a neutral rating on Bitcoin, maybe a slight bullish bias as we have a green bigger candle than the previous red and inside bar action. So, it does imply a slight favoring that after a move up like this and sideways, we could get up to this 80,000 level. Now, 80,000 has been my low end of the range of the target since we saw this reversal green in the charts, right? So again, that would be the angle, but I want to be crystal clear. The bigger macro, which means the bigger chart setup, meaning the big kahuna essentially, is still bearish, meaning that Bitcoin has not bottomed out for the cycle. We can see again that again, this pattern is a classic bear flag. Bear flags are down moves with sideways chop slightly up usually. They usually end with another leg to the downside. So, while you could have a neutral to slight upside bias on the chart, which is what I have in the very near-term, meaning just over the next couple days or weeks, we have to be very cognizant that if we break this trend line here, then the bear flag on the bigger time frame begins to play out.

[00:02:22]Well, where could we go on Bitcoin?

[00:02:24]Let's find out. Let's zoom out on this chart. If we do play out accordingly, we should head down to this level just at the 50,000 level marker. So again, 50,000 would be our target here to the downside. And again, that's all contingent on when or if this trend line breaks, which currently sits just above 68,000. In the near-term, like I said, we could continue inside. Look, we were at the lows, we went to the highs. In fact, lows here, highs, we pulled back, went back to the highs, then the lows.

[00:02:53]So, it's making sense that we could be grinding sideways to up in the near-term, but the bigger term, this move down inside bar tells us we're eventually going lower. And by the way, you see that replication in the pattern perfectly right here, right? Here was a down move, sideways to up chop, and what happens? Eventually, we traded it down.

[00:03:14]Same sort of pattern, eventually, you have to assume we're going lower. All right, so that's your Bitcoin update. I love showing the bigger Bitcoin macro here. By the way, this would be target number one, and if we really things get really nasty, target two would be 30,000. But ultimately, the highs on Bitcoin, how was I able to call this in 2025?

[00:03:35]Simply, it was so simple, frankly. I connected the high from 2017 bull market to the 2021 high here, and look. So, when everyone was calling for those crazy price targets of like 250,000 on Bitcoin into year end, what ended up happening? It basically topped out, boom, to the downside we went. Pretty remarkable, guys. In fact, remarkably impressive in terms of the price action.

[00:03:59]All right, so that's your Bitcoin update. Let's go to ETH real quick here, the Ethereum chart. ETH is doing much the same, right? So, we have this little sideways chop. It's not really a parallel, it's more what we would call a megaphone pattern, but it's still the same general prognosis. This is general neutral to upside, right? So again, we're higher lows here, higher highs here. We have to assume we could make one more move up. Your massive resistance is between 26 and 2800, so that I wouldn't expect price to get above that, but in the near-term again, neutral to upside, but again, the bigger macro move down, just like here, down, choppy to upside, then led down again, choppy to upside, eventually down again.

[00:04:42]All right, so that's your ETH basis here. Now, let's go to the Solana chart.

[00:04:46]Solana's looking really good here. Now, listen, it's still a bear flag, right? I mean, macro bear, but on a bullish side, I love this short-term breakout sideways chop. You can see that all of these near-term candles are aligned up here and we're breaking above it. That's a short-term breakout on Solana. I think Solana is going to go retest $97 and potentially even get to about 115 to 120 dollars per the chart. So, really good price action here. And basically, the way you look at it too, folks, let's be crystal clear, is if Solana is bullish, then most of the other altcoins will likely follow suit. I mean, crypto trades somewhat all together. I mean, Bitcoin can be a little stronger, a little weaker than the altcoins, but in general, if Bitcoin's rallying, the alts are also going up. It's just a matter of how much. Are they getting the mega move or are they kind of lagging behind? But either way, it all trades together. I mean, it's one of those industries or assets that generally trades together.

[00:05:44]Okay? So, that's what we have there. If we look at XRP, let's take a look at the XRP chart, then we'll look at a couple others out there. XRP is getting a great move here as well. I remain bullish.

[00:05:54]Look at this, by the way, green reversal candle, then you start creating this sideways to down. And listen, you could also make a case, by the way, that, you know, this is So, this is a bullish pattern, right? Short-term. But this is still, if we look at this, we could still make a case that you have a bearish consolidation pattern off of this. And so again, I would just caution that yes, the near-term pattern is bullish and we're seeing it play out.

[00:06:18]You're going to hit a lot of resistance around a buck 60 and then ultimately a buck 80, but if we don't get through a buck 80, which is this massive zone of which was support back then, it's going to be resistance. If we don't get through that, at some point we're going lower again. So again, right now, it's actually a good chart. I still like I like the XRP chart for a move maybe as high as 180, but 180 is going to be massive resistance. The question is, can it get through there? Taking a look at a couple others, how's Avalanche looking here? Avalanche is looking very similar to the chart of Solana.

[00:06:51]Wedge pattern, short-term breakout. I like the move for a move back to 10 and a half, possibly as high as this low pivot over here, around 11 dollars and 40 cents. Chainlink, we can look at Chainlink as well. Same sort of pattern formation. Crypto looks again, these altcoins look very good here. I will say that. They look very, very strong in the near-term on the price action. All right, and again, we can always go through a few others, but essentially, you know, we look at Cardano. I know a lot of you guys love Cardano here. Let's look at the Coinbase chart on Cardano.

[00:07:23]You can see, same thing, potential breakout beginning here. We broke out above this down-sloping line. Look how we broke out, we came back into it. Now, we're pushing up. We got to take out this 26.6 love cent level, then we should start retesting 29 to 30 cents up here. Upside is limited to about 33 cents, but that would still be a very impressive move on a percentage basis from where the recent lows were. So, there's upside in the altcoins right now and potentially in Bitcoin. Bitcoin again, 80 to 85,000 is kind of my maximum, but if you get a move like that and the altcoins run, you could see 20, 30% upside in the altcoins very, very easily. All right, guys, that's your update from here in at verifiedinvesting.com.

[00:08:03]Thank you so much for tuning in. I'll talk to you soon. Take care.