Latest / The Paul Barron Crypto Show / Bitcoin Conference Crashes Crypto📉Technical Analysis w/ @investingbroz
Transcript
- 0:06Speaker 1: The Bitcoin Conference is happening in Vegas this week, and
- 0:08Speaker 1: of course, if you know what happened the last time,
- 0:11Speaker 1: well we're going to break it down for you, you're
- 0:12Speaker 1: gonna like it. My name is Paul Berre. Welcome back
- 0:14Speaker 1: into tech path. Let's get started today. I do want
- 0:16Speaker 1: to thank our sponsor and that is I Trust Capital.
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- 0:44Speaker 1: It's going to give you a one hundred dollars funding
- 0:46Speaker 1: reward to get started. Joining us today is of course
- 0:50Speaker 1: mister Tim Warren coming in from investing bros.
- 0:53Speaker 2: How are you.
- 0:53Speaker 3: I'm doing good, Paul, how are you doing.
- 0:55Speaker 2: I'm excellent, man.
- 0:56Speaker 1: The key is, I think with what's going on in
- 0:59Speaker 1: the market, right now because there has been asking, you know,
- 1:02Speaker 1: especially with bitcoin hitting one ten so quickly.
- 1:06Speaker 2: I don't know about you, but the people.
- 1:08Speaker 1: Coming out of the woodwork right now. Are you seeing
- 1:10Speaker 1: more retail people asking questions about bitcoin?
- 1:12Speaker 4: Now?
- 1:13Speaker 3: That's a good question. I don't know if I would
- 1:16Speaker 3: say more.
- 1:17Speaker 4: I'm actually probably going to be shooting a video this
- 1:19Speaker 4: week about a portfolio you can make for your mother
- 1:22Speaker 4: in law. And the reason why is because my mother
- 1:23Speaker 4: in law has been actually hitting me up.
- 1:26Speaker 3: Findy thing.
- 1:26Speaker 4: What can I put a thousand dollars into that will
- 1:28Speaker 4: make me a lot of money really quickly? And I'm like,
- 1:30Speaker 4: all right, that's a dangerous question for anyone to ask.
- 1:32Speaker 4: But you know what, I bet someone else's mother in law.
- 1:34Speaker 3: Is asking the same question.
- 1:36Speaker 4: But I don't think that we're yet seeing the massive
- 1:39Speaker 4: onslaught of retail investors. I think what we're probably going
- 1:42Speaker 4: to be starting to notice here is older investors who
- 1:46Speaker 4: gave up years ago start to dip their toes back
- 1:49Speaker 4: in the water. I think the mass euphoria of brand
- 1:52Speaker 4: new investors is going to be new. I know I'm
- 1:54Speaker 4: not at the conference right now, but Jadie Vance, I
- 1:57Speaker 4: guess just spoke not that long ago saying that he's
- 2:00Speaker 4: expecting one hundred million or more Americans to be buying
- 2:03Speaker 4: bitcoin in the next couple of months. So maybe that's
- 2:05Speaker 4: the level we're looking for.
- 2:07Speaker 2: Wow, that would be something.
- 2:09Speaker 1: Just as a reminder, if you guys have never seen
- 2:11Speaker 1: Tim's channel, I'm sure you have, but if you have it,
- 2:13Speaker 1: if you're a brand new to crypto, this is a
- 2:14Speaker 1: great place to also jump into with Tim's videos because
- 2:18Speaker 1: he does a really good job on breaking things down.
- 2:20Speaker 1: So you guys check it all out right there on
- 2:23Speaker 1: Investing Bros over on YouTube.
- 2:26Speaker 3: Tim.
- 2:26Speaker 1: Let's jump into a couple of points, especially around bitcoin.
- 2:30Speaker 1: You put out this tweet right here, good old bitcoin
- 2:32Speaker 1: conference volatility. This happened last year. Do you think we're
- 2:36Speaker 1: going to see that kind of retracement? I mean that
- 2:39Speaker 1: would be in the seventies if we saw close to
- 2:42Speaker 1: a thirty percent retracement here.
- 2:44Speaker 2: What are your thoughts?
- 2:45Speaker 4: Yeah, so I told my community I don't love the
- 2:49Speaker 4: It's always done it in the past, so therefore it
- 2:51Speaker 4: has to do it in the future. There's a couple
- 2:53Speaker 4: things that I think you could make an argument for,
- 2:56Speaker 4: But when it comes to events like selling May and
- 2:58Speaker 4: walk away, I hate that expression when it comes to
- 3:01Speaker 4: even the bitcoin conference. Historically bitcoin conferences, it's a little complex,
- 3:05Speaker 4: but it usually with the exception of one time, comes
- 3:09Speaker 4: with a pump before the markets or sorry, before the
- 3:12Speaker 4: conference or into the conference, and then either on the
- 3:15Speaker 4: last day of the conference or the first day or
- 3:17Speaker 4: a couple days later, we end up having a little
- 3:20Speaker 4: bit of a selloff. If you go back to last year,
- 3:21Speaker 4: it was actually two days later after the conference we
- 3:24Speaker 4: began to retrace once again. But what I'm gonna kind
- 3:28Speaker 4: of focus on, I tell my community, don't sell your
- 3:31Speaker 4: bitcoin because there's a bitcoin conference. Don't let it play
- 3:35Speaker 4: one way or the other into your decision making. Continue
- 3:38Speaker 4: to look at the charts, continue to examine are the
- 3:41Speaker 4: prices currently over bought or over sold, and make your
- 3:45Speaker 4: decision based off that. Coincidentally, I do think things are
- 3:48Speaker 4: a little overbought. I do think some form of a
- 3:50Speaker 4: tiny correction has been overdue for a couple of weeks.
- 3:53Speaker 4: So do we have another we pumped into the conference situation.
- 3:56Speaker 4: Maybe we come out of it with a small five
- 3:58Speaker 4: percent I don't even know if a ten percent dip
- 4:01Speaker 4: is needed, but maybe a five to ten somewhere in
- 4:03Speaker 4: the middle dip. That's just what the charts are saying,
- 4:06Speaker 4: and it's coincidental. We're also sitting here at the Bitcoin
- 4:08Speaker 4: conference once again.
- 4:10Speaker 1: Yeah, before we get into that, there was some breaking
- 4:12Speaker 1: news that just came out, and that is that, you know,
- 4:16Speaker 1: my estimation actually came true, and that is a dark
- 4:18Speaker 1: horse has entered the race, and that dark horse is
- 4:22Speaker 1: in the way of Blackrock now to acquire ten percent
- 4:26Speaker 1: of USDC issuer Circle IPO shares. Now, that doesn't mean
- 4:30Speaker 1: that they're buying in. They're probably on the IPO side,
- 4:33Speaker 1: just buying a certain percentage. Remember that the IPO is
- 4:36Speaker 1: a fraction of what the value of Circle is because
- 4:39Speaker 1: they're only putting up so many shares. So, but the
- 4:41Speaker 1: point is is that you get someone like Blackrock who's
- 4:45Speaker 1: showing consistency in the space of saying, hey, we're going
- 4:48Speaker 1: to double down. Also understand that Circle tied to ethereum,
- 4:52Speaker 1: so a big one.
- 4:54Speaker 4: I like that first comment under there that said, what
- 4:56Speaker 4: does Blackrock not own ten percent of a comment there
- 5:00Speaker 4: from Hellia because I'm thinking the same thing exactly.
- 5:04Speaker 2: A couple of points I wanted to get.
- 5:06Speaker 1: To as well, is just the speakers right there at
- 5:09Speaker 1: the conference in Vegas. You advance, of course to what
- 5:11Speaker 1: your point was, ross Albright coming in, Eric Trump, Donald
- 5:14Speaker 1: Trump Junior sailor, and I mean, this is a pretty
- 5:17Speaker 1: good Bitcoin MAXI group, I would say to a certain
- 5:21Speaker 1: extent that have been speaking there, and of course that hey, listen,
- 5:24Speaker 1: this is a bitcoin conference. So I completely understand that
- 5:28Speaker 1: and kind of go with it. But you look at
- 5:32Speaker 1: that many good speakers. What Vance is talking about potentially
- 5:35Speaker 1: hitting one hundred million, What is your I want to
- 5:38Speaker 1: talk about the near term of bitcoins price in the
- 5:43Speaker 1: next week. How do you feel this plays out based
- 5:46Speaker 1: on the charts right now?
- 5:47Speaker 4: Well, the first thing to remember, and I'm sure Paul,
- 5:50Speaker 4: you have different levels of viewers. Some people maybe are
- 5:53Speaker 4: brand new to cryptocurrency, so this is gonna be most
- 5:56Speaker 4: important for them. But anyone who's been in crypto for
- 5:58Speaker 4: a couple of years, if not five, ten, fifteen, you'll
- 6:01Speaker 4: know what I'm about to say to be very true.
- 6:03Speaker 4: These conferences are very good for hype and building momentum.
- 6:07Speaker 4: And if you're brand new to crypto and you're learning something,
- 6:09Speaker 4: that's really cool. But for the most part, for people
- 6:11Speaker 4: who are more experienced, don't expect any of these speakers
- 6:15Speaker 4: to come out and say something you don't already know,
- 6:17Speaker 4: even jd Vance saying that over the next couple of months,
- 6:20Speaker 4: over one hundred million Americans you're gonna own bitcoin.
- 6:22Speaker 3: That's cool.
- 6:23Speaker 4: Pump your you know, pump the flags. You'll get it going.
- 6:25Speaker 4: But at the end of the day, that's not necessarily
- 6:27Speaker 4: a factual. That's an opinion of the Vice President. You're
- 6:30Speaker 4: gonna hear Senator Loomis get out there and just talk
- 6:33Speaker 4: about why we so need American government to buy more bitcoin.
- 6:38Speaker 4: But we already know all this stuff. So when you
- 6:40Speaker 4: have this great event that's coming up and then you
- 6:43Speaker 4: have people come out pumping the hype train, but it's
- 6:46Speaker 4: all details that the experience holders already knew. Again that
- 6:50Speaker 4: right there is a little bit of a reason to say,
- 6:52Speaker 4: all right, if we had been sideways going into the
- 6:54Speaker 4: conference or downward, hey, this could be a catalyst to
- 6:57Speaker 4: bring us back to the upside. But since we're so
- 6:59Speaker 4: overextended right now now, I really could see this be
- 7:02Speaker 4: a small exit liquidity for whales and larger holders. When
- 7:05Speaker 4: I look at the charts, we'll go look at them
- 7:06Speaker 4: here in a second. You're going to see why they
- 7:08Speaker 4: would take a little bit of profit, let it dip
- 7:10Speaker 4: back down. When you say what the next week is
- 7:12Speaker 4: going to look like, I'm going to do the best
- 7:15Speaker 4: I can. That is a very hard window to pinpoint perfectly.
- 7:18Speaker 4: But if I go to the chart, you can see
- 7:21Speaker 4: here bitcoin rallying since our early April, back when we
- 7:25Speaker 4: came back down all the way to seventy four thy
- 7:27Speaker 4: four hundred, we really haven't had any type of major correction.
- 7:32Speaker 3: We've had little stopping points.
- 7:34Speaker 4: If you go back here, back in mid April, we
- 7:37Speaker 4: had a symmetrical triangle that ended up being a bullpennant.
- 7:40Speaker 4: We broke bullish out of We then formed a little
- 7:42Speaker 4: bit of a rising megaphone pattern. These traditionally break to
- 7:47Speaker 4: the downside. You pair this with the fact that the
- 7:49Speaker 4: twelve hour chart was kind of screaming at us that
- 7:51Speaker 4: we were overbought and needed to come back down. All
- 7:54Speaker 4: the ost leaders are overextended. And then it denied all
- 7:57Speaker 4: the odds and went to the upside again. And then
- 7:59Speaker 4: here at the middle part of May, once again another
- 8:02Speaker 4: symmetrical triangle pattern, another bullpennant, and we've exploded. So at
- 8:07Speaker 4: some point, though, you do have to see the Piper
- 8:11Speaker 4: get paid. This thin red line popping up on the
- 8:14Speaker 4: chart is another twelve hour bearish divergence, and there's something
- 8:18Speaker 4: that's different about this one that I think could bring
- 8:21Speaker 4: a little bit stronger of a correction here. If you
- 8:24Speaker 4: look at the details of what's come afterwards, some people
- 8:26Speaker 4: are gonna say, tam, it looks like we're just consolidating
- 8:28Speaker 4: once again. But when you come down to lower timeframes,
- 8:31Speaker 4: for example, the four hour chart, we're finally actually seeing
- 8:34Speaker 4: some lower highs and lower lows on a small timeframe.
- 8:37Speaker 4: Right this peak that we just had yesterday definitely a
- 8:40Speaker 4: lower high, but at the same time those two bottoms,
- 8:43Speaker 4: one on the twenty fourth or twenty third excuse me,
- 8:45Speaker 4: and the other on the twenty fifth, you finally have
- 8:47Speaker 4: that lower position. So at the very best, we're kind
- 8:51Speaker 4: of watching right here. Potentially would be some form of
- 8:54Speaker 4: a falling channel that eventually will break out bullish for bitcoin,
- 8:58Speaker 4: but right now probably has targets moving its way back
- 9:01Speaker 4: down as far as where those targets could get to.
- 9:03Speaker 4: If we go back up to the twelve hour chart,
- 9:05Speaker 4: where once again we're monitoring that bearish divergence, the cell
- 9:09Speaker 4: signal of the red reversal, barish momentum, negative money flow.
- 9:12Speaker 4: We have targets on a twelve hour chart that would
- 9:14Speaker 4: bring us all the way back down here. My group,
- 9:17Speaker 4: we have a by signal in at one hundred and
- 9:19Speaker 4: three thousand, seven hundred giver take. That's gonna be kind
- 9:22Speaker 4: of paired with the daily chart right now. That also,
- 9:25Speaker 4: it's kind of flirting with that cell signal red reversal,
- 9:28Speaker 4: barish momentum. And there you go, the lowest money flow
- 9:30Speaker 4: we've seen since all the way back here early in May.
- 9:33Speaker 4: That one is the smart trail still climbing. Look where
- 9:36Speaker 4: the target's getting to around that one o three seven mark.
- 9:39Speaker 4: So I've been calling for a pullback for the last
- 9:42Speaker 4: couple of weeks. I have been wrong, but I know
- 9:45Speaker 4: at some point it's gonna happen. We're seeing we're seeing
- 9:48Speaker 4: a weaker Bitcoin on those lower time frame right now
- 9:51Speaker 4: than we've seen since all the way back in April.
- 9:54Speaker 4: So this could be it. What I want to make
- 9:56Speaker 4: sure I lead people with though, is don't get dooming
- 9:59Speaker 4: and gloomy over this pullback. This is a healthy, over
- 10:02Speaker 4: needed pullback before we expand again. I have the next
- 10:06Speaker 4: spot for bitcoin. There's a chance one fifteen one sixteen
- 10:09Speaker 4: can get a little sticky, but a lot of different
- 10:11Speaker 4: levels using Fibonacci would actually communicate. One hundred and twenty
- 10:14Speaker 4: thousand could be the next major level to keep your
- 10:17Speaker 4: eye on once the bull run does resume.
- 10:20Speaker 2: I like it.
- 10:20Speaker 1: You look at the overall market right here, Tim, This
- 10:23Speaker 1: of course is Chris. The crypto total market cap now
- 10:26Speaker 1: surging past trillion bucks, so forty two percent since April eighth. Low,
- 10:31Speaker 1: So man, that is insane for us to be moving
- 10:34Speaker 1: that much. And if you look at some of the
- 10:36Speaker 1: other points here, the market clap cap excluding Bitcoin has
- 10:40Speaker 1: also arisen by another three hundred and nineteen almost three
- 10:43Speaker 1: and twenty billions, so another thirty five percent. This is
- 10:46Speaker 1: all positive news if you're looking at the rest of
- 10:49Speaker 1: the market, even though many people will say, well, still
- 10:52Speaker 1: haven't really seen ethereum run, and we haven't seen all
- 10:54Speaker 1: coins even begin to get heated up. When you look
- 10:58Speaker 1: at the ethereum chart right now, does that give you
- 11:01Speaker 1: any indicator for Ethereum that could break out if Bitcoin
- 11:04Speaker 1: were to go sideways are down slightly?
- 11:08Speaker 4: Could it break out if Bitcoin goes down? If we're
- 11:10Speaker 4: about to enter into all coin season, yes. My personal
- 11:14Speaker 4: opinion is that is not quite here yet. I think
- 11:17Speaker 4: you had that win a couple more months. The catalyst
- 11:20Speaker 4: for a true all coin season is not here. But
- 11:22Speaker 4: as far as speaking about Ethereum, Ethereum is working on
- 11:24Speaker 4: a very bullish formation right now that people do not
- 11:28Speaker 4: want to ignore whatsoever. You're gonna see this right here,
- 11:31Speaker 4: and there's a chance we pull back down. But could
- 11:34Speaker 4: we see Ethereum hold up as well, if not better
- 11:37Speaker 4: than Bitcoin during a potential pullback. This is the daily chart.
- 11:40Speaker 4: Let me show you if I go down to the
- 11:41Speaker 4: four hour chart what we're kind of watching for right
- 11:43Speaker 4: now and keeping an eye on. At the very least,
- 11:47Speaker 4: you're probably looking at a zone to come back down
- 11:50Speaker 4: towards to twenty three hundred, give or take. We have
- 11:53Speaker 4: a by level just in case down there, but we
- 11:55Speaker 4: had a flat top at the moment, and we have
- 11:57Speaker 4: a rising level of support in play here forum. Now,
- 12:00Speaker 4: there's gonna be two different ways to kind of draw
- 12:02Speaker 4: this support, so I want to be aware of both
- 12:03Speaker 4: of them. Some people are gonna use this as an
- 12:05Speaker 4: outlier and say, actually, let's kind of track this momentum.
- 12:08Speaker 4: But either way, whichever line you end up using here
- 12:11Speaker 4: the more vertical one or the more horizontal one. That's
- 12:15Speaker 4: rising level of support paired with a flat level of
- 12:17Speaker 4: resistance for ethereum as overall zone. That is an ascending
- 12:22Speaker 4: triangle connected to a very explosive rally here on ethereum.
- 12:26Speaker 4: And if this ends up holding up, let me kind
- 12:28Speaker 4: of draw back. Let's go with the lesser of the two,
- 12:31Speaker 4: just to make sure I'm fair to it. Dude, this
- 12:34Speaker 4: formation does end up playing out with this explosion of
- 12:37Speaker 4: price action, a bullpenant on ethereum could signal a rally
- 12:41Speaker 4: for ethereum all the way up here towards thirty eight hundred,
- 12:45Speaker 4: possibly sometime in early to mid June. And again right now,
- 12:50Speaker 4: we're consolidating. Like I said, Bitcoin, I'm expecting to consolidate
- 12:53Speaker 4: before an explosive explosion to one twenty. Could we see
- 12:57Speaker 4: that explosion kind of correlate with ethereum consolidates still within
- 13:00Speaker 4: this formation, and then later on again early to mid June,
- 13:04Speaker 4: explode up towards thirty eight hundred and four thousand dollars
- 13:07Speaker 4: give or take. That's what I'm watching for a theorum
- 13:09Speaker 4: right now. Great looking chart to trade and to buy
- 13:12Speaker 4: before another big move and Austin I'll stay here, and
- 13:15Speaker 4: we kind of talked about the all coin season. We're
- 13:18Speaker 4: kind of referencing this, and I'm not going to go
- 13:19Speaker 4: into a lot of detail the charts because it would
- 13:21Speaker 4: take me a long time. But for anyone who has
- 13:23Speaker 4: invested in crypto for more than five years, there's a
- 13:26Speaker 4: lot about what's happening right now that's not acting like
- 13:28Speaker 4: the four year cycle. But if you were to go
- 13:30Speaker 4: back to like October November area of twenty twenty, if
- 13:35Speaker 4: you remember bitcoins started to move, all slowly were coming
- 13:39Speaker 4: behind it. Ethereum was a little ahead, but all slowly
- 13:41Speaker 4: behind it, and then by January the all coin season
- 13:44Speaker 4: got explosive. I see a lot of similarities between the
- 13:47Speaker 4: price action between that fall of twenty twenty and right now,
- 13:50Speaker 4: which could lean towards a mid to late summer explosion
- 13:54Speaker 4: for all coins.
- 13:54Speaker 2: Yeah.
- 13:55Speaker 1: Well, and I think timing because remember in twenty twenty
- 13:59Speaker 1: going into twenty one, we had that too high market
- 14:02Speaker 1: and a lot of Solana was exploding at that time.
- 14:06Speaker 1: So that's a good example of that for sure. The
- 14:09Speaker 1: other thing that could be creating a little bit of
- 14:12Speaker 1: market potential for Ethereum is the fact that we now
- 14:15Speaker 1: have the micro strategy of Ethereum, and that is we've
- 14:19Speaker 1: actually reported on this yesterday. This was a company called
- 14:21Speaker 1: Sharplying Gaming. If you guys didn't catch that video, go
- 14:24Speaker 1: over and check this video out right here. That's the one,
- 14:27Speaker 1: and it was basically highlighting some of the key things
- 14:30Speaker 1: that were going on Ethereum. First of all, almost a
- 14:32Speaker 1: half a billion dollars going into the acquisition of Ethereum,
- 14:36Speaker 1: Joe Lubin from Consensus coming in and being part of
- 14:39Speaker 1: that group. That tells me that there is a method
- 14:43Speaker 1: to this madness, especially around Ethereum. And plus there's a
- 14:46Speaker 1: lot of tech advancement, so maybe we are in this
- 14:49Speaker 1: position right now in terms of a potential upside for Ethereum.
- 14:53Speaker 1: I want to go over to a couple other tokens.
- 14:55Speaker 1: One of course, is Render. Just so you guys know,
- 14:59Speaker 1: if you're the with Render, Coinbase is getting ready to
- 15:02Speaker 1: delist the R n D R version of Render, so
- 15:07Speaker 1: just be aware of that. They're also delisting I think
- 15:09Speaker 1: Mobile and a handful of others. But if you're trading
- 15:12Speaker 1: on Render now it's our E N D er that's
- 15:15Speaker 1: the one you want to jump into because it's obviously
- 15:17Speaker 1: the liquidity is going to shift over. But when you
- 15:19Speaker 1: look at the render chart and Render one of our
- 15:23Speaker 1: tokens that we'd love here of course very tied to Nvidia,
- 15:28Speaker 1: and Nvidia of course coming in with some pretty interesting
- 15:32Speaker 1: data right now, and Earning's day is here, so we
- 15:36Speaker 1: are going to either get a little bit of a
- 15:38Speaker 1: bump here around four to twenty this afternoon.
- 15:41Speaker 2: Interesting timing they did that.
- 15:43Speaker 1: Earnings calls at five and the release will come out
- 15:46Speaker 1: of four twenty, so we'll hopefully not for end then day.
- 15:48Speaker 1: My guess is we're going to see a positive number
- 15:51Speaker 1: going up that could have some impact on Render. If
- 15:54Speaker 1: you were if you were trading Render right now, tim
- 15:57Speaker 1: how would you play it?
- 16:00Speaker 4: Very good question, how the play render? Render again one
- 16:02Speaker 4: of those coins that has such a fundamental upside, but
- 16:05Speaker 4: the sharks have been a little frustrating in this big
- 16:08Speaker 4: pullback since the peak back in March of twenty twenty four.
- 16:11Speaker 4: This is the falling channel once again, with a little
- 16:13Speaker 4: bit of an outlier in December, but this is a
- 16:16Speaker 4: bullish formation. Eventually it will go to the upside. The
- 16:19Speaker 4: worst case scenario would be you come back down and
- 16:21Speaker 4: go back towards two dollars, but I would be very
- 16:24Speaker 4: surprised that happens. What I'm excited about though, and you
- 16:28Speaker 4: still see higher highs and higher lows kind of being formed.
- 16:30Speaker 4: Here is after bottoming out back in April, we have
- 16:33Speaker 4: officially broken a bar of structure on render. This was
- 16:37Speaker 4: the former high set back in February we needed to
- 16:39Speaker 4: get above. Of course, we did that here a couple
- 16:41Speaker 4: of weeks ago in May eleventh, So we have a
- 16:44Speaker 4: bullet structure. But I want to see is can we
- 16:46Speaker 4: get back above this cream level here? Can we officially
- 16:50Speaker 4: do it and then get to higher levels if it
- 16:52Speaker 4: does end up going that way, we're looking at a
- 16:54Speaker 4: pretty big jump on render after that breakout again, depending
- 16:59Speaker 4: on if we get a anytime soon. We're looking at
- 17:01Speaker 4: prices to go back up here, actually higher than we
- 17:04Speaker 4: were back in March, somewhere in the field of back
- 17:07Speaker 4: towards fifteen dollars on render.
- 17:10Speaker 3: This is one Again.
- 17:11Speaker 4: The good news about it is there's not necessarily well,
- 17:13Speaker 4: let's see, let me zoom in here. It looks like
- 17:15Speaker 4: there is a many little cell signal, but it's not
- 17:17Speaker 4: as aggressive as bitcoins is because it hasn't had the
- 17:20Speaker 4: same amount of rallies. Look at the volume going in there. Actually,
- 17:24Speaker 4: as I'm checking this out, a lot of volume coming
- 17:26Speaker 4: in here. And Paul, I'll tell you right now, as
- 17:29Speaker 4: this volume is coming in on the daily chart, because
- 17:31Speaker 4: I haven't looked at Render yet today, this is the
- 17:32Speaker 4: first time my eyes are actually looking at it. That's
- 17:35Speaker 4: a great story for what Render is doing right now,
- 17:38Speaker 4: because that's a massive red histogram of volume, but a
- 17:41Speaker 4: very little candle. It is a bearish candle on my chart.
- 17:44Speaker 4: The blue ones are bearish. But what that communicates is, yes,
- 17:47Speaker 4: we've been falling here a trend since back here on
- 17:49Speaker 4: the twenty third. But there's buyers coming in right now,
- 17:53Speaker 4: buying in bulk. I bet you if we come down
- 17:55Speaker 4: to lower timeframes, there you go. Yeah, big money comes
- 17:58Speaker 4: in with small candles.
- 17:59Speaker 3: It. It looks like we're slowly but surely scooping this
- 18:02Speaker 3: up right now.
- 18:03Speaker 4: This looks like a long opportunity on a shorter timeframe, Paul,
- 18:06Speaker 4: if you kind of take on some different support and
- 18:08Speaker 4: resistance levels, an another little falling channel with some large
- 18:12Speaker 4: volume kind of marking a bottom position, I could see
- 18:14Speaker 4: this very easily giving us momentum. We're very low on
- 18:17Speaker 4: the oscillators right now. We could see targets on shorter
- 18:20Speaker 4: next couple of days back up here towards resistance, back
- 18:23Speaker 4: towards five twenty eight. But don't forget a lot of
- 18:26Speaker 4: these charts are still under weekly by signals. We got
- 18:29Speaker 4: targets on a low ento eight eighty high end fifteen
- 18:32Speaker 4: dollars again, and that kind of marks the same breakout there.
- 18:35Speaker 4: So short term, I think it's a bye, and I
- 18:37Speaker 4: think you kind of watch and you feel more confident
- 18:40Speaker 4: when we get maybe above like five seventy five to
- 18:42Speaker 4: seventy five, you feel a lot more confident about a
- 18:44Speaker 4: move to nine to fifteen dollars in the next couple
- 18:47Speaker 4: of weeks.
- 18:48Speaker 1: Well, And I think obviously the Nvidia earnings coming out,
- 18:52Speaker 1: and Render is very tied to Nvidia in terms of
- 18:55Speaker 1: compute power and just where the future of render is going.
- 18:57Speaker 1: So if you guys are following Render, it's almost like
- 19:00Speaker 1: the Nvidia version on the crypto side, it kind of
- 19:03Speaker 1: goes EBB and flows with what's happening with Nvidia, Like
- 19:07Speaker 1: we showed earlier, I want to jump over to Flow
- 19:09Speaker 1: real quick because this is something that is happening with
- 19:12Speaker 1: Flow We've reported on.
- 19:14Speaker 2: Flow quite a bit.
- 19:14Speaker 1: This is one of those all coins that has been
- 19:17Speaker 1: highly depressed and right now they've got a big update.
- 19:20Speaker 1: So this is for NFD NFT developers on Flow. Now
- 19:23Speaker 1: you've got a whole new bridging that's a lot more customizable.
- 19:27Speaker 1: Cadence is now working with some new technology within it.
- 19:30Speaker 1: If you know anything about Flow, go do some research
- 19:32Speaker 1: on this. But it's an interesting project that also is
- 19:36Speaker 1: tied to some pretty big projects, including Disney Pinnacle, which
- 19:39Speaker 1: is a big collector's community in that area. But when
- 19:42Speaker 1: you look at the chart, tell me Flow is going
- 19:46Speaker 1: to recover.
- 19:47Speaker 2: When you look at.
- 19:48Speaker 4: This, well, there's not necessarily a whole lot lower we
- 19:52Speaker 4: can go with Flow all right here there you go. Now,
- 19:55Speaker 4: this is not a great looking chart. You know, this
- 19:58Speaker 4: is on coinbase, so I think there's probably history beforehand.
- 20:00Speaker 4: But if you just go back to the highs of
- 20:02Speaker 4: August in twenty twenty two, it's been lower highs and
- 20:05Speaker 4: lower lows on the macro right, that's not what the
- 20:07Speaker 4: rest of the crypto space, at least the good cryptos
- 20:10Speaker 4: are looking like. With that said, well, I wouldn't necessarily
- 20:13Speaker 4: look at any type of long term investment in flow.
- 20:16Speaker 4: The fact that we have recently bounced off support the
- 20:19Speaker 4: bottom side of this trend, you really have a lot
- 20:22Speaker 4: more room to the upside. The weekly chart, let's take
- 20:24Speaker 4: a look here again, this coin is not terribly old,
- 20:27Speaker 4: but just like everything else, it's going to have some
- 20:29Speaker 4: targets low end around eighty cents higher on a dollar
- 20:32Speaker 4: seventy four.
- 20:33Speaker 3: Let me make sure.
- 20:33Speaker 4: Yeah, we got a good bysingle on that weekly chart,
- 20:35Speaker 4: so that's kind of like the next couple of weeks.
- 20:38Speaker 4: It is under a mini cell signal right now, we
- 20:40Speaker 4: are kind of bouncing here off support, so that's a
- 20:43Speaker 4: miniature good sign. But it could even get as low
- 20:45Speaker 4: as thirty six cents before it's all said and done.
- 20:48Speaker 4: It really depends on what I see on these lower
- 20:49Speaker 4: time But I look at the four hour chart and
- 20:51Speaker 4: see if we're getting any type of support coming in here. Yeah,
- 20:55Speaker 4: there's some building pressure, some bullish divergence coming in. I think.
- 20:58Speaker 3: I think worst case.
- 20:59Speaker 4: Scenario, you're looking at a pullback down here back towards
- 21:01Speaker 4: thirty seven cents. But with the daily chart kind of
- 21:03Speaker 4: feeling like it's bottomed, what it needs to do on
- 21:06Speaker 4: it cell signal.
- 21:07Speaker 3: The four hour looking like it wants to regroup.
- 21:09Speaker 4: It's if you're looking at the weekly chart and saying, hey, Tim,
- 21:12Speaker 4: I like those signals. I like the by signal. I
- 21:14Speaker 4: want to trade it back up to eighty cents. Where's
- 21:16Speaker 4: a good entry. I would say anywhere between this with
- 21:19Speaker 4: the current forty level and thirty seven cents, not a
- 21:23Speaker 4: bad spot to keep your eye on. Maybe put your
- 21:25Speaker 4: stop loss a little bit below this green level back
- 21:27Speaker 4: towards twenty five cents. But that's a nice little trade
- 21:30Speaker 4: opportunity for flow on the short end. On the long end,
- 21:34Speaker 4: let's get some more positive news. Let's get a confirmed
- 21:37Speaker 4: breakout above this green resistance line that's been trending since
- 21:41Speaker 4: twenty twenty two, and then we can start to maybe
- 21:43Speaker 4: discuss does this potentially have some big moves coming? But
- 21:48Speaker 4: unfortunately it's not the greatest looking chart if you're looking
- 21:52Speaker 4: for a longer term hold on cryptocurrency.
- 21:55Speaker 1: Yeah, I think it's one of those that has been
- 21:57Speaker 1: up and down and obviously has really started to reach
- 22:00Speaker 1: race downward for the last almost year. One point I
- 22:03Speaker 1: want to get at on avalanche. One thing that if
- 22:06Speaker 1: you notice, especially with some of these major projects, is
- 22:10Speaker 1: the meme coin community. And this of course is the
- 22:13Speaker 1: cat token. This thing is up since April twenty fifth,
- 22:17Speaker 1: up three hundred and fifty percent. And this is writing
- 22:21Speaker 1: within the avax ecosystem. When you look at Avalanche and
- 22:24Speaker 1: what the meme community is now starting to do. What
- 22:27Speaker 1: do you think is going to happen with Avalanche right now,
- 22:30Speaker 1: which has been kind of sideways for a little bit.
- 22:33Speaker 2: Where do you see it going in the next week.
- 22:35Speaker 4: Yeah, I would say Avax is a better looking chart
- 22:38Speaker 4: than Flow, but it's not the best looking chart in
- 22:41Speaker 4: terms of longer term perspectives. But I'm going to continue
- 22:44Speaker 4: fundamentally to hold on to this coin. It's another one.
- 22:46Speaker 4: I think we were talking about two coins. You go,
- 22:49Speaker 4: can remember what we were discussing Render. It's still in
- 22:52Speaker 4: a negative move move right now, even dating back to
- 22:55Speaker 4: last March and twenty nighty four. But again, you look
- 22:58Speaker 4: at this redline I have highlighted here. This was a
- 23:00Speaker 4: significant high we had to get above to regain bullish structure.
- 23:04Speaker 4: We did that over the last couple of weeks. We
- 23:06Speaker 4: have targets on the again weekly chart, low end up
- 23:09Speaker 4: here towards forty three dollars, high end back up above
- 23:12Speaker 4: seventy five dollars, levels we haven't seen since all the
- 23:15Speaker 4: way back in twenty twenty two. So hopefully we get
- 23:18Speaker 4: that kind of ball rolling there when you talk about
- 23:21Speaker 4: the next week again, somewhere between the daily and weekly
- 23:24Speaker 4: chart is gonna be your best bet. Let's see if
- 23:26Speaker 4: this daily chart is giving us how many little cels
- 23:29Speaker 4: you know that money flow is bleeding out kind of
- 23:31Speaker 4: has a floor down here towards twenty dollars to keep
- 23:34Speaker 4: an eye on. Let's look at that four hour chart though,
- 23:36Speaker 4: and see if it is bears. Yeah, money flow still going,
- 23:40Speaker 4: no bullish divergence, a lot of room to run to
- 23:43Speaker 4: the downside on those oscillators. So Avax is one I
- 23:45Speaker 4: would keep an eye on for the next week and
- 23:47Speaker 4: some change back down here cut again, Yeah, back towards
- 23:53Speaker 4: twenty dollars would be a very interesting level to maybe
- 23:56Speaker 4: scoop up more Avax.
- 23:57Speaker 2: I like it.
- 23:58Speaker 1: That's probably a good slot for and entry, at least
- 24:00Speaker 1: when I look at Avax anything around that twenty window,
- 24:03Speaker 1: because that's been one of those I think psychological resistance
- 24:07Speaker 1: areas that has been holding with Avalanche over the.
- 24:10Speaker 2: Last little bit.
- 24:11Speaker 1: Let's get into our last token of course that's going
- 24:13Speaker 1: to be XRP. A lot more positive news with XRP.
- 24:17Speaker 1: The SEC is now beginning their review of Wisdom Trees
- 24:20Speaker 1: Spot XRPTF.
- 24:21Speaker 2: If this goes through, this would be the first.
- 24:24Speaker 1: I think there's a bit of a race right now
- 24:25Speaker 1: as to which one's going to come out, whether we
- 24:27Speaker 1: see a Salona ETF or a potential XRP ETF.
- 24:32Speaker 2: One of the things that they broken here is under.
- 24:35Speaker 1: Federal law, the SEC has up to two hundred and
- 24:36Speaker 1: forty days to approve or reject, so that could still
- 24:39Speaker 1: be in play.
- 24:40Speaker 2: Again.
- 24:40Speaker 1: We don't know all the dates on each one of these,
- 24:42Speaker 1: but there's a lot of ETFs brewing around XRP. And
- 24:46Speaker 1: when you think about this, along with the real estate
- 24:50Speaker 1: situation that's happened in the Middle East, where we're going
- 24:53Speaker 1: to see a lot more RWA's now coming into the
- 24:56Speaker 1: XRP ledger. There's a lot of very positive news around
- 25:00Speaker 1: Ripple and the token.
- 25:02Speaker 2: What about the price?
- 25:04Speaker 1: Where do you like and is there a good entry
- 25:06Speaker 1: point for XRP, because I think some of our audience
- 25:08Speaker 1: may think, Wow, this is a token I haven't invested
- 25:11Speaker 1: in before. Where can I buy this one? Ken In
- 25:14Speaker 1: terms of price.
- 25:15Speaker 4: Yeah, so when you go to this one, it's a
- 25:16Speaker 4: little bit different than some of the other coins we're
- 25:18Speaker 4: looking at. Similarly, we do have now it's not the
- 25:21Speaker 4: same time frame. We do have a falling channel. We're
- 25:23Speaker 4: wrestling with the resistance of that channel though, so that's
- 25:26Speaker 4: a little bit different. But I do think a breakout
- 25:28Speaker 4: probably is coming at some point. I think XRPS one
- 25:32Speaker 4: to keep an eye on. It's very similar to how
- 25:34Speaker 4: it traded, you know, years ago, where it's very suppressed.
- 25:37Speaker 4: We'll just go back to that big explosion in July
- 25:39Speaker 4: of twenty three suppressed. We knew that something big was
- 25:42Speaker 4: coming down the line, you know, we told people, don't
- 25:45Speaker 4: don't sell it. There's going to be some time when
- 25:46Speaker 4: it explodes. We didn't know how right we were going
- 25:48Speaker 4: to be. It explodes here in November, and now it's
- 25:51Speaker 4: consolidating back up top again. It's consolidating around two dollars.
- 25:55Speaker 4: People need to appreciate that because the last time we
- 25:58Speaker 4: were above two dollars, we skimmed it briefly in twenty
- 26:01Speaker 4: twenty one, and that was the exact top. Now we're
- 26:04Speaker 4: consolidating around the twenty twenty one high that's very bullish.
- 26:08Speaker 4: Before I tell you where to buy it, the target
- 26:10Speaker 4: to keep an eye on to the upside.
- 26:11Speaker 3: The people are still looking.
- 26:13Speaker 4: We're not talking about a twenty x or anything, but
- 26:14Speaker 4: we are talking about another big leg up to the upside.
- 26:18Speaker 4: And I have price targets above ten dollars pushing towards
- 26:22Speaker 4: twelve dollars on XRP according to a bullflag that still
- 26:26Speaker 4: is playing out right now. It's part of this consolidation
- 26:28Speaker 4: long term zone.
- 26:29Speaker 3: Be patient.
- 26:30Speaker 4: This could take, you know, not even just the summer.
- 26:33Speaker 4: I think summertime. You're gonna be happy with a lot
- 26:35Speaker 4: of five dollars XRP. This is something I'd look for
- 26:37Speaker 4: maybe close to the end of the year or early
- 26:38Speaker 4: twenty twenty six. But you want to be scooping up
- 26:41Speaker 4: as much as you can in that timeframe. It's very strange.
- 26:45Speaker 4: We're at resistance, but we don't have a daily cell
- 26:48Speaker 4: signal at the moment. I want to see if there's
- 26:50Speaker 4: others as well here that we are going to see
- 26:52Speaker 4: cell signals twelve hour. You can make an argument for
- 26:55Speaker 4: a twelve hour sales signal right now. Little bit of weakness,
- 26:57Speaker 4: a little bit of reason to pull back here that's
- 26:59Speaker 4: got a smart trail kind of remember bouncing right now
- 27:03Speaker 4: here around this zone. I want to see where the
- 27:06Speaker 4: daily smart trail is right there. I think XRP might
- 27:09Speaker 4: be a bye here very very soon. You could try
- 27:12Speaker 4: to make a case for a lower level and potentially
- 27:16Speaker 4: retrace back down to the weekly smart trail. But that's
- 27:19Speaker 4: not a strong cellizon right there. I see actually see
- 27:21Speaker 4: a lot of the weekly charts starting to bounce back
- 27:23Speaker 4: up and starting to turn bullish once again. So if
- 27:26Speaker 4: you want to put a just in case bisingal in
- 27:29Speaker 4: down at one eight nine, that might not be a
- 27:31Speaker 4: terrible plan, but don't necessarily anticipate it's gonna get hit.
- 27:35Speaker 4: If I'm right about what bitcoin's gonna do, wh I'm
- 27:37Speaker 4: right about how all coins are gonna follow, I think
- 27:39Speaker 4: this could be what we're watching right now is a classic.
- 27:42Speaker 4: We're ready to break out of this formation. We just
- 27:44Speaker 4: need the catalyst. And so this was a final move
- 27:47Speaker 4: where we rejected on the resistance once again. We're going
- 27:50Speaker 4: to miniature pullback, but within a structure of higher highs
- 27:53Speaker 4: and higher lows. You get this bounce right here, and
- 27:55Speaker 4: then we make a move to the upside. I would say,
- 27:57Speaker 4: anywhere between right here and maybe two twelve is, in
- 28:01Speaker 4: my opinion, probably a very good level to buy more XRP.
- 28:04Speaker 4: And if you want to get a little bit, you know,
- 28:06Speaker 4: care crazy with it and maybe that weekly smart and say, hey,
- 28:09Speaker 4: just in case you want to get somewhere in here
- 28:11Speaker 4: on one ninety two eighty, you can put it there.
- 28:14Speaker 3: I just don't know.
- 28:15Speaker 2: If it's get triggered, you may not get a filled.
- 28:17Speaker 1: Yeah, well, I think that's that's a factor of that
- 28:20Speaker 1: Right now. I think a lot of people are looking
- 28:21Speaker 1: and I still am questioning what kind of major announcements
- 28:25Speaker 1: are we going to see coming out of Ripple and
- 28:27Speaker 1: Garling House in the next two months, because I have
- 28:30Speaker 1: a feeling that they're they're coiling up some big announcements
- 28:33Speaker 1: for the summer. Let's get into one more. I want
- 28:36Speaker 1: to get your opinion on this one. So the sweet
- 28:39Speaker 1: situation that happened, and I won't say sweet, but on
- 28:43Speaker 1: see this there was a major hack. The proposal is
- 28:46Speaker 1: now going back in and they're actually going to do
- 28:49Speaker 1: with a fifty two percent approval, a potential refund.
- 28:54Speaker 2: For anybody that got hit on this hack.
- 28:55Speaker 1: So many people would look at that and say well,
- 28:57Speaker 1: this is good, Paul, But in reality you would also
- 29:00Speaker 1: look at this and say, well, that's not really decentralized.
- 29:02Speaker 1: But if you look at Swee as a token, it's
- 29:06Speaker 1: an open blockchain. We get that, we understand the model
- 29:10Speaker 1: in which they're building. Would be would you outside of
- 29:13Speaker 1: just trading suite right now, is this one of those
- 29:17Speaker 1: tokens that you're saying, I'm gonna hold this through an
- 29:19Speaker 1: all coin run.
- 29:21Speaker 2: Would it be one of them that would be in
- 29:23Speaker 2: your bag?
- 29:24Speaker 4: I think Swee is gonna have a sui suite. You know,
- 29:27Speaker 4: we pronounce it different ways. It it's gonna have a
- 29:31Speaker 4: longer run. It's a very it's a VC coin. So
- 29:34Speaker 4: there's venture capitalist there. You know, when I heard the complaint, like, oh,
- 29:37Speaker 4: this means it's not decentralized. Yeah, some people trying to
- 29:41Speaker 4: defend it. Don't.
- 29:42Speaker 3: Don't.
- 29:42Speaker 4: Don't try to defend it and say no, it's decentral No, no, listen,
- 29:45Speaker 4: it's not. But here's the reality. We live in a
- 29:47Speaker 4: world where decentralization is not the end all be all.
- 29:49Speaker 4: That was a really big argument back in twenty twenty one.
- 29:52Speaker 4: People acted like a coin showed any signs of centralization
- 29:56Speaker 4: that you had to sell it. We're in the world
- 29:59Speaker 4: of institution adoption. They don't care about decentralization versus centralization.
- 30:03Speaker 4: They care about making money and they care about technology.
- 30:06Speaker 4: And just what we've seen with Solana, let's not pretend
- 30:08Speaker 4: like Solana is a decentralized coin and yet it had
- 30:12Speaker 4: one of the most impressive starts to this bullmarket. Why
- 30:14Speaker 4: because the technology and the speed. If you want to
- 30:18Speaker 4: stick to decentralized coins by Bitcoin, by Cardano, by Caspa,
- 30:23Speaker 4: and by Manaro, other than that, don't try to buy
- 30:26Speaker 4: other cryptocurrencies because you're gonna find yourself being sorely disappointed
- 30:30Speaker 4: that there's levels of centralization.
- 30:32Speaker 3: But if you want to make.
- 30:32Speaker 4: Money, stop making arguments about centralization verus decentralization being a roadblock.
- 30:38Speaker 4: Vcs and institutions do not care about that argument. They
- 30:41Speaker 4: invest in the tech, and Suie's tech is still very strong.
- 30:45Speaker 1: All right.
- 30:46Speaker 2: I like that.
- 30:46Speaker 1: That's one of our statements and the sayings here in
- 30:49Speaker 1: crypto bit is I'm here for the tech, which is
- 30:53Speaker 1: there's always a little bit of a moniker to that. Anyway, Tim, Hey,
- 30:57Speaker 1: it's good seeing you guys again. If you guys have
- 31:00Speaker 1: not checked out Tim's channel. Go over to Investing Bros.
- 31:03Speaker 1: You guys can of course subscribe over there and get
- 31:05Speaker 1: some of Tim's latest knockouts he does there. Are you
- 31:08Speaker 1: doing more live shows now or more recorded shows?
- 31:10Speaker 2: What's working now? Yeah?
- 31:12Speaker 3: We made a switch here.
- 31:12Speaker 4: We still do live shows every Wednesday at three pm
- 31:15Speaker 4: Eastern Standard time, but other days of the week we're
- 31:18Speaker 4: putting out uploads. And we just see fifty thousand subscribers,
- 31:22Speaker 4: so I see that shout out to I know you
- 31:24Speaker 4: were a big part of that sending people over to us,
- 31:26Speaker 4: so thank you so much for that. Hopefully we'll be
- 31:27Speaker 4: at one hundred k soon. But we found it works
- 31:30Speaker 4: a lot better for us to put out We've been
- 31:32Speaker 4: put out like ten to twenty minute long videos Monday, Tuesday, Thursday, Friday,
- 31:37Speaker 4: and then mostly Saturdays, and we just had that one
- 31:39Speaker 4: live show a week get in.
- 31:41Speaker 3: Some people don't have time.
- 31:42Speaker 4: To sit around for a whole hour of a live show,
- 31:44Speaker 4: so we made the switch. It's been very beneficial since,
- 31:47Speaker 4: but totally we still go live once a week.
- 31:50Speaker 1: I love it, Tim, all right, my man. I will
- 31:52Speaker 1: give you an update once we get back from the
- 31:54Speaker 1: Vegas event, and we'll get some insights on what's going
- 31:57Speaker 1: on out there. A lot happening in those in those events,
- 32:00Speaker 1: so be on the lookout for some news. We'll catch
- 32:03Speaker 1: you later. Thanks for coming in today. We appreciate it
- 32:05Speaker 1: absolutely Thanks for having me all right. If you guys
- 32:08Speaker 1: are not part of the Diamond Circle, jump in right now.
- 32:10Speaker 1: It's absolutely free. All you do is hit the link
- 32:12Speaker 1: down below, catch me on Twitter at Paul Baron. We'll
- 32:14Speaker 1: catch you next time right here on Techpath