Latest / The Paul Barron Crypto Show / Crypto Recovery Soon?📈Technical Analysis w/ ‪ @Tradingparrot ​

Transcript

Crypto Recovery Soon?📈Technical Analysis w/ ‪ @Tradingparrot ​ · The Paul Barron Crypto Show

• 0:07
  Speaker 1: The market may have scooped off the bottom. Today we'll
• 0:09
  Speaker 1: talk about a rally and what that might look like.
• 0:11
  Speaker 1: My name is Paul Barrow. Welcome back in a tech path.
• 0:14
  Speaker 1: Let's get started today. I do want to thank our
• 0:16
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• 0:18
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• 0:52
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• 0:58
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• 1:00
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• 1:03
  Speaker 1: use our link down below. All right, so, as you
• 1:05
  Speaker 1: guys know, we always bring on a trader during the week,
• 1:08
  Speaker 1: and today we're going to get a trading pairt on.
• 1:11
  Speaker 1: If you guys have not seen this channel, mister Mario
• 1:13
  Speaker 1: right here, a great channel. By the way, I follow.
• 1:17
  Speaker 1: This is one of the few traders that I follow,
• 1:19
  Speaker 1: So you guys get out there and subscribe to him
• 1:21
  Speaker 1: right now. It's a great place to kind of check
• 1:24
  Speaker 1: in what he's doing. Mario, how are you today.
• 1:27
  Speaker 2: I'm very grateful, thanks for having me.
• 1:30
  Speaker 1: All Right, well, listen, we got to talk about bitcoin
• 1:32
  Speaker 1: bull market now, as many people are kind of questioning
• 1:35
  Speaker 1: whether or not bitcoin can hold its current position. A
• 1:38
  Speaker 1: lot of analysts right now are kind of targeting the
• 1:40
  Speaker 1: seventy seven K range, and if you look at the
• 1:43
  Speaker 1: trading range, there is a couple of people that have
• 1:46
  Speaker 1: looked at it and said we might see a problem here,
• 1:49
  Speaker 1: but that at the same time we could reclaim around
• 1:52
  Speaker 1: one hundred k. Is what is your chart show right
• 1:56
  Speaker 1: now in terms of where Bitcoin's positioning is right now,
• 1:59
  Speaker 1: where it stands today.
• 2:00
  Speaker 2: To start off, we have had a massive, massive decrease
• 2:05
  Speaker 2: in interest on Bitcoin over time, and to me this
• 2:07
  Speaker 2: is something positive. I always look for entries on lungs
• 2:12
  Speaker 2: when I see people throwing the towel, and if you
• 2:16
  Speaker 2: cannot see here people throwing the towel. We went from
• 2:19
  Speaker 2: sixty five interests into twenty three, and that's something precedent
• 2:23
  Speaker 2: for this time in the cycle. I also look for liquidity.
• 2:28
  Speaker 2: This is also crucial to get another leg up, and
• 2:32
  Speaker 2: we are seeing liquidity increasing in China in the Global
• 2:36
  Speaker 2: and two Liquidity Index. The liquidity coming into crypto is
• 2:40
  Speaker 2: also entering as well, so that's confirming that that liquidity
• 2:44
  Speaker 2: is not just papor and actually landing in crypto with
• 2:48
  Speaker 2: this grain in here, and the Federal Reserve balance sheet
• 2:52
  Speaker 2: is also pointing up. At the moment, it's all mild,
• 2:55
  Speaker 2: is all the beginning of liquidity, but it's starting to
• 2:59
  Speaker 2: shape up. Some patterns that are resonating with things that
• 3:03
  Speaker 2: happen in August in twenty twenty four, like, for example,
• 3:06
  Speaker 2: this liquidity hand that we had in August twenty to
• 3:09
  Speaker 2: twenty four, that was the beginning of a move of
• 3:12
  Speaker 2: one hundred percent up in the open interest We went
• 3:15
  Speaker 2: from fourteen billion into thirty five billion. That started with
• 3:21
  Speaker 2: this thing here, and at the moment we are at
• 3:25
  Speaker 2: twenty eight and we are reclaiming support. So that is
• 3:27
  Speaker 2: another signal that I'm following up. And if you're suspecting,
• 3:31
  Speaker 2: I am bullished in the higher time frames, but there
• 3:34
  Speaker 2: are some things that we need to get sorted in
• 3:38
  Speaker 2: the lower time frames. I'm gonna mention some of that.
• 3:40
  Speaker 2: For example, the hash ribbons has printed capitulation that typically
• 3:45
  Speaker 2: comes with some troll down until we get the bi signal.
• 3:48
  Speaker 2: That's another one for longer term that I'm using in
• 3:52
  Speaker 2: my favor to start looking for lungs. On the shorter term,
• 3:55
  Speaker 2: it's been a huge pain all this trading range being
• 3:59
  Speaker 2: tried up around ninety seven ninety six, constantly trapping shorts
• 4:04
  Speaker 2: and lungs, increasing that open interest. On the daily time frame,
• 4:09
  Speaker 2: we are also trapped in a range in here. We
• 4:11
  Speaker 2: are right there in the middle of the range, constantly
• 4:14
  Speaker 2: flipping between being slightly above suddenly below it, and threatening
• 4:18
  Speaker 2: to go to those low levels. People are thinking, are
• 4:22
  Speaker 2: we gonna go below nighty K at this point in time,
• 4:25
  Speaker 2: And every time it pinches here, it comes back to
• 4:28
  Speaker 2: the middle of the range. And I'm seeing some things
• 4:32
  Speaker 2: that are quite relevant at the moment. For example, for
• 4:36
  Speaker 2: the short term on the CME market, we have a
• 4:40
  Speaker 2: gap at ninety seven point two priced at binance prices,
• 4:45
  Speaker 2: and that could bring the price of bit gooing to
• 4:48
  Speaker 2: that level. And if we do that, we could start
• 4:52
  Speaker 2: igniting here some fire, because there is enough here petrol.
• 4:57
  Speaker 2: I call it petrol. Sometimes this is liquidity that there
• 5:01
  Speaker 2: is from short liquidations. Stop losses account for closes as well.
• 5:06
  Speaker 2: And we've been in this flag constantly coming down punishing
• 5:10
  Speaker 2: the lungs. But that party of punishing the lungs might
• 5:13
  Speaker 2: be coming closer to an end because we have already
• 5:17
  Speaker 2: had the same recipe one, two, three, and four times.
• 5:21
  Speaker 2: And as we do that, we are increasing this liquidity
• 5:25
  Speaker 2: at the top end, and that creates a path to
• 5:30
  Speaker 2: get into ninety nine into one hundred kg, And if
• 5:33
  Speaker 2: we can get there, things could slip very quickly into
• 5:38
  Speaker 2: going for longer term liquidity into over one hundred k.
• 5:43
  Speaker 2: Most likely the lowest hanging fruit in here is to
• 5:46
  Speaker 2: get into one hundred and ten. And for that, obviously
• 5:50
  Speaker 2: we need to follow step by step the rules of
• 5:53
  Speaker 2: getting there. And the first step into that direction is
• 5:58
  Speaker 2: to get into this exit on the top of this
• 6:02
  Speaker 2: flag in here, so we had done some progress in
• 6:05
  Speaker 2: that and carefully watching how we accumulate liquid on the
• 6:09
  Speaker 2: lower end because that could also drag the price here
• 6:12
  Speaker 2: if too many lungs get too greedy around that area.
• 6:17
  Speaker 1: A couple of things though, with this potential flattening of
• 6:21
  Speaker 1: the bitcoin market, what has happened is it has started
• 6:24
  Speaker 1: to put a lot of pressure on all coins. And
• 6:26
  Speaker 1: you look at people out there, you know, having fun
• 6:28
  Speaker 1: with bitcoins crashing outs downpoint one to seven percent. But
• 6:31
  Speaker 1: you look over here at the all coin season, and
• 6:35
  Speaker 1: we had that all coin season back here in this
• 6:38
  Speaker 1: was just a short two months ago where we were
• 6:42
  Speaker 1: leveraging into all coin season and we have absolutely bottomed
• 6:45
  Speaker 1: out down here on all coin season overall. So a
• 6:49
  Speaker 1: lot of factors in the market. We will be covering
• 6:52
  Speaker 1: some all coins for you guys today to take a
• 6:54
  Speaker 1: look as well. And Mariano, I want to jump to
• 6:57
  Speaker 1: our next one, which is a little bit more in
• 6:59
  Speaker 1: this point right here, and that's Solana. Okay. Solana is
• 7:03
  Speaker 1: setting on quite possibly, I would say maybe it's lowest,
• 7:07
  Speaker 1: not necessarily in price, but in terms of market sentiments.
• 7:10
  Speaker 1: Seven days, more money has left Solana than any other
• 7:12
  Speaker 1: major chain. I saw a tweet you put out that
• 7:16
  Speaker 1: just said Solana, So tell me what do you think
• 7:19
  Speaker 1: and what's your charge show for Solana right now?
• 7:23
  Speaker 2: So on Solana, I have a specific target. I mean
• 7:28
  Speaker 2: I mentioned in that tweet. I know I mentioned one hundred.
• 7:30
  Speaker 2: One hundred is a possibility, not a guarantee. I think
• 7:34
  Speaker 2: when I was burish in Solana was when we were
• 7:37
  Speaker 2: at two hundred dollars. Just a public disclaimer. I sold
• 7:42
  Speaker 2: at two hundred and seventy and since then I've been
• 7:45
  Speaker 2: looking for a re entry and I say I'm not
• 7:49
  Speaker 2: interested in Solana until we get to one hundred and
• 7:51
  Speaker 2: fifty dollars. And that's particularly because I didn't see much
• 7:56
  Speaker 2: motivation for market maker at this point in time when
• 8:00
  Speaker 2: it to liquidity to push the price to just punish
• 8:04
  Speaker 2: these small liquidation levels in here. And also we have
• 8:09
  Speaker 2: quite a big rally. And also there was some impact
• 8:14
  Speaker 2: for example, for the cell of the mid cooin Trump
• 8:19
  Speaker 2: that I think it negatively impacted Solana the same way.
• 8:24
  Speaker 2: When they were listing Trump, it started pumping. Then when
• 8:27
  Speaker 2: they gave the news that it was kind of a
• 8:30
  Speaker 2: rack pull or something bad, then it also help in
• 8:35
  Speaker 2: a negative way. At that point there were so many
• 8:38
  Speaker 2: lungs in here, and the price went straight into one
• 8:40
  Speaker 2: hundred and sixty. I'm looking into one hundred and fifty
• 8:44
  Speaker 2: accident as an x liquidation that hasn't been taken. But
• 8:49
  Speaker 2: from one hundred and sixty into the one hundred and
• 8:52
  Speaker 2: fifty there's my first potential entry, and I don't mind
• 8:56
  Speaker 2: if I miss it. As usual, I don't chase price.
• 9:00
  Speaker 2: If I get a huge opportunity of one hundred and fifty,
• 9:02
  Speaker 2: I enter with one order, then follow with the next
• 9:06
  Speaker 2: level of interest in here, which is scary. But there
• 9:10
  Speaker 2: is a big liquidation at at one hundred and fifteen.
• 9:12
  Speaker 2: But seriously speaking, I think it's low likely that we
• 9:17
  Speaker 2: get there, so I will say one hundred and fifty.
• 9:20
  Speaker 2: Is the opportunity going much lower than that? Positively, with
• 9:25
  Speaker 2: the anlog of this massive amount of Solana that's coming
• 9:29
  Speaker 2: in in March, I believe that could make it positive,
• 9:33
  Speaker 2: but I wouldn't count necessarily on it. I'm going to
• 9:37
  Speaker 2: share a little bit of TA on Solana as well
• 9:40
  Speaker 2: if we have some time pulled I just for the context,
• 9:45
  Speaker 2: because later we're going to review other coins and you
• 9:48
  Speaker 2: can see that on the price action. We had this
• 9:51
  Speaker 2: breakout in November and we put this double top on
• 9:55
  Speaker 2: Solana and we are losing the one hundred and eighty
• 9:58
  Speaker 2: support as we did that. I mentioned a few days
• 10:03
  Speaker 2: ago in the past week that we could come back
• 10:06
  Speaker 2: to the scene of the crime. I call that when
• 10:08
  Speaker 2: you break out and you come back to the same
• 10:10
  Speaker 2: trend line that you broke out before. That we did
• 10:13
  Speaker 2: it by the dollar at one hundred and sixty dollars.
• 10:16
  Speaker 2: And now what I'm looking is at the support on
• 10:19
  Speaker 2: the ADSI weekly of forty six. I really want this
• 10:23
  Speaker 2: week that we recover at aside forty six on a
• 10:27
  Speaker 2: weekly basis, and some context are going to give you
• 10:31
  Speaker 2: relative to other coins. If we look at the RSI weekly,
• 10:34
  Speaker 2: we had the breakout, we lost one level and we
• 10:37
  Speaker 2: came to this new support of this new wildline. Then
• 10:41
  Speaker 2: we had a rally that I traded against that resistance
• 10:44
  Speaker 2: of sixty five. That's where I sold at two hundred
• 10:47
  Speaker 2: and seventy. Then it came back to this support at
• 10:50
  Speaker 2: fifty one and we lost another level. So it's been
• 10:53
  Speaker 2: really devastating in this area. And that support of forty
• 10:57
  Speaker 2: six is the same support of August. I'm hoping that
• 11:00
  Speaker 2: by Sunday we hold forty six, because for me, that
• 11:04
  Speaker 2: is a strong signal that we can get another rally
• 11:07
  Speaker 2: into the new resistance that now is a little bit lower,
• 11:10
  Speaker 2: which is fifty three, and that could be a really
• 11:14
  Speaker 2: great trait to take as well. I have covered that
• 11:17
  Speaker 2: in a specific video today with more details.
• 11:21
  Speaker 1: Another point I want to hit on because Jupiter is
• 11:23
  Speaker 1: connected to Solana in a very big way. Jupiter essentially
• 11:27
  Speaker 1: think this is the DeFi engine pretty much, I would say,
• 11:30
  Speaker 1: the most popular one out there. And at the same time,
• 11:33
  Speaker 1: you look at a lot of the things that Jupiter
• 11:36
  Speaker 1: is doing. They're setting up their rewards program that's already
• 11:40
  Speaker 1: in place. Jupe has been very active within the Salona community.
• 11:44
  Speaker 2: When you look at.
• 11:45
  Speaker 1: Jupiter the token, how would you say its performance is
• 11:49
  Speaker 1: and can it possibly start to perform in this bull market?
• 11:54
  Speaker 2: So looking at Jupiter, I don't have much history in
• 11:57
  Speaker 2: here the listing Whilston generally four, but all I can
• 12:02
  Speaker 2: see that we are in the last line in the
• 12:04
  Speaker 2: sense since listing it reached a high of one point
• 12:08
  Speaker 2: eight dollars and we've been hitting this floor multiple times
• 12:12
  Speaker 2: of sixty seven cents, and this is just another instance
• 12:17
  Speaker 2: of that, but this particular instance is the one that
• 12:21
  Speaker 2: I'm seeing that now we are below support on the weekly,
• 12:25
  Speaker 2: So this, if it recovers above the support of forty
• 12:30
  Speaker 2: five on the weekly, I think is a buying opportunity.
• 12:36
  Speaker 2: Just saying that we are a weekly support is already
• 12:39
  Speaker 2: a buying opportunity, not of course, not to go all in,
• 12:42
  Speaker 2: but is much better placed to enter at the support
• 12:47
  Speaker 2: that being in the middle of the range where you
• 12:49
  Speaker 2: don't have any guarantees of going above. A great setup
• 12:54
  Speaker 2: that I really like is if we exit the support
• 12:58
  Speaker 2: from here and then we re enter that is a
• 13:02
  Speaker 2: liquidity graph that will make it a lot more bullish
• 13:06
  Speaker 2: because at the moment we are testing that and bouncing,
• 13:09
  Speaker 2: so there are no guarantees that we could continue a
• 13:12
  Speaker 2: little bit lower. But if we pinch this below and
• 13:15
  Speaker 2: by the end of the week we come back up
• 13:17
  Speaker 2: and we see buying pressure from there in a liquidity
• 13:21
  Speaker 2: hand kind of shape, coming back and reholding that level
• 13:26
  Speaker 2: of sixty seven cents, that could be actually a great
• 13:30
  Speaker 2: setup in my opinion, And hopefully when we do that,
• 13:33
  Speaker 2: if we could end the week on the art sid
• 13:38
  Speaker 2: back above this trend line. So it's very easy you
• 13:40
  Speaker 2: just grab an ADICI standard, you put it on the weekly,
• 13:44
  Speaker 2: you put this line and you can even put an
• 13:47
  Speaker 2: alert by the end of the week to tell you
• 13:50
  Speaker 2: whether we close or below. You get in an email
• 13:53
  Speaker 2: and you can action that. I think I think it's
• 13:56
  Speaker 2: a great place to be looking at you at the moment.
• 14:00
  Speaker 1: All right. I like it for a potential entry then
• 14:02
  Speaker 1: and again this is back to the point of where
• 14:04
  Speaker 1: a lot of people who are getting into crypto for
• 14:06
  Speaker 1: the first time, this is actually a pretty good time
• 14:09
  Speaker 1: to be getting in because you're getting in at market
• 14:11
  Speaker 1: conditions that we haven't seen before in a while. So
• 14:15
  Speaker 1: even especially with a lot of these all coins. For sure.
• 14:18
  Speaker 1: Another thing you guys can do, make sure and subscribe
• 14:20
  Speaker 1: to the channel if you're not already in, and if
• 14:22
  Speaker 1: you're not in our telegram group, get in on that
• 14:23
  Speaker 1: as well. You can join us. Just go over and
• 14:25
  Speaker 1: visit Paul baron network. You'll get the link, but we
• 14:27
  Speaker 1: always leave one down below. Let's jump over to XRP
• 14:31
  Speaker 1: right now. A couple of things have been happening. We
• 14:35
  Speaker 1: saw Patrick Bett David. He was doing a quick pull
• 14:38
  Speaker 1: on XRP and listen. Patrick is not a crypto guy,
• 14:42
  Speaker 1: but you know, he's very interested in you know what
• 14:44
  Speaker 1: the markets think. Gary Cardon, who kind of came back in.
• 14:48
  Speaker 1: The point was, is that Patrick put out a tweet
• 14:51
  Speaker 1: that got just ridiculous performance. XRP outperformed Bitcoin in terms
• 14:56
  Speaker 1: of the token people would want. Then Gary Cardon a
• 14:59
  Speaker 1: big max did the same tweet and the same poll
• 15:03
  Speaker 1: and XARP one again, and of course he deleted the tweet.
• 15:06
  Speaker 1: So it's kind of funny that this is going on.
• 15:08
  Speaker 1: This just shows you the power of the XRP community. Now,
• 15:11
  Speaker 1: let's take a look at the charts and tell me
• 15:13
  Speaker 1: is this a good time if you haven't purchased XRP.
• 15:17
  Speaker 1: As Cardown said, if you've gone to sleep and decided
• 15:21
  Speaker 1: to wake up and buy something, is this the time
• 15:23
  Speaker 1: to buy it.
• 15:25
  Speaker 2: XRP is looking quite strong relative to many many other
• 15:29
  Speaker 2: coins that I have, not just in this list, but
• 15:31
  Speaker 2: my long list of coins that I'm constantly doing. Tha
• 15:35
  Speaker 2: fifty eight is the support of the weekly at the moment,
• 15:39
  Speaker 2: and I'm keeping an eye on that just because many coins,
• 15:42
  Speaker 2: including Thron and all the coins that are also looking
• 15:46
  Speaker 2: strong have come in touch base right there right at
• 15:50
  Speaker 2: this point, and that in the price at the moment
• 15:54
  Speaker 2: is two point three dollars, so holding that level is
• 15:59
  Speaker 2: something that is crucial for continuation of another impulsive move.
• 16:04
  Speaker 2: We are in the middle here of a flag. This
• 16:06
  Speaker 2: hasn't broken out yet. You can see that the side
• 16:11
  Speaker 2: top A ninety two and coming down in here. So
• 16:14
  Speaker 2: it's important, very important that when we come there we
• 16:17
  Speaker 2: hold that and we don't do things like Solana has
• 16:20
  Speaker 2: done that broke down this and then broke down another
• 16:23
  Speaker 2: level lower. So that level two point three is a
• 16:27
  Speaker 2: buying area for me, and of course if we don't
• 16:30
  Speaker 2: hold the two point three then I will consider adding
• 16:34
  Speaker 2: more at the next level of weekly support. I love
• 16:37
  Speaker 2: adding on Weekly Sports that if we lose that one,
• 16:42
  Speaker 2: I will have to find what is the next level
• 16:44
  Speaker 2: and then continue at the moment I have two dollars,
• 16:47
  Speaker 2: it's very important as psychological level followed by one point
• 16:51
  Speaker 2: five and a breakout like this will be indication that
• 16:56
  Speaker 2: we are about to exit from the top of the range.
• 17:00
  Speaker 2: Still far from that in my opinion, let's.
• 17:03
  Speaker 1: Go over the ethereum eth is destined to go above
• 17:06
  Speaker 1: ten k in this cycle. This is coming in from Ted.
• 17:09
  Speaker 1: He's basically talking about the highest TVL and stable coin liquidity,
• 17:13
  Speaker 1: institutional adoption, and of course lower inflation than bitcoin and
• 17:18
  Speaker 1: ninety nine percent of the all. So it's time to
• 17:21
  Speaker 1: stop and let's get rolling, as they say. But that's
• 17:25
  Speaker 1: the problem with ethereum. It doesn't give you a full
• 17:28
  Speaker 1: signal yet. Is there anything we can look forward to here,
• 17:31
  Speaker 1: Mariano to get eth moving up?
• 17:34
  Speaker 2: All right? So we've been three times at four thousand dollars,
• 17:38
  Speaker 2: and the last time we went there, we came back
• 17:40
  Speaker 2: inside the range that was perish and I was hoping
• 17:44
  Speaker 2: that we could hold three thousand dollars. I called this
• 17:47
  Speaker 2: area the horrible area, and I called below two point
• 17:51
  Speaker 2: six being kind of the end of everything. We went
• 17:55
  Speaker 2: into kind of the end of everything. But we managed
• 17:58
  Speaker 2: to get ourselves out of that trouble by reclaiming support,
• 18:03
  Speaker 2: which is great. This trend line. We have reclaimed that
• 18:06
  Speaker 2: with two green candles. There is still some battling around there.
• 18:11
  Speaker 2: There is an argument between lungs and shorts. People are
• 18:14
  Speaker 2: shorting in here and pushing and trying to do anything
• 18:18
  Speaker 2: that is possible to get it to exit from the
• 18:21
  Speaker 2: bottom in here so we can crash and then they
• 18:24
  Speaker 2: can cash out on a big short. I am looking
• 18:27
  Speaker 2: for a breakout of this particular flag in here, and
• 18:31
  Speaker 2: I have a short term target of three point three k,
• 18:34
  Speaker 2: but that is based on initially in terms of liquidations,
• 18:38
  Speaker 2: but there are big, big liquidations at four one to four, two,
• 18:43
  Speaker 2: four to three. All that area in there is quite heavy,
• 18:46
  Speaker 2: and that is because people keep adding to the shorts
• 18:49
  Speaker 2: in here, and they're making it so much easier for
• 18:52
  Speaker 2: our recovery on Invidium. From the point of view market maker,
• 18:57
  Speaker 2: they must be just watching that and thinking, okay, time
• 19:00
  Speaker 2: to send Itidium up. In my opinion, and looking at
• 19:04
  Speaker 2: the Arisi on the weekly, I have two alphas in here.
• 19:07
  Speaker 2: The Arisi weekly is potentially confirming on Sunday a breakout,
• 19:13
  Speaker 2: a breakout against this trend line. And this is one
• 19:16
  Speaker 2: of my favorite setups. After you have a long channel
• 19:18
  Speaker 2: down a breakout, and then you lose the support of
• 19:22
  Speaker 2: the breakout, then we get what I call a rally
• 19:27
  Speaker 2: into resistance of a lost support. And we have had
• 19:31
  Speaker 2: that in so many different coins, including Solana. I already
• 19:35
  Speaker 2: traded that setup and it was great to exit at
• 19:37
  Speaker 2: two hundred and seventy. So now if we did this
• 19:40
  Speaker 2: and we went into fifty eight, I did a calculation
• 19:43
  Speaker 2: earlier and the price was around three point two to
• 19:47
  Speaker 2: three point three. That is an initial rally just into resistance.
• 19:51
  Speaker 2: At that point, I will pay a lot of attention
• 19:55
  Speaker 2: because we can get another rejection there and go back
• 19:59
  Speaker 2: and meet back with the support once again, maybe at
• 20:02
  Speaker 2: that time at a higher level, and possively we could
• 20:06
  Speaker 2: break this resistance. So resistance is not impossible, it's just resistance.
• 20:11
  Speaker 2: If we break resistance, then we could be heading into
• 20:15
  Speaker 2: the four one four two four three where we have
• 20:18
  Speaker 2: massive clusters of liquidity. Why is such a great time
• 20:21
  Speaker 2: looking etherdium? I have this pattern which is the delta
• 20:26
  Speaker 2: between lungs and shorts on etherium, and every time we
• 20:30
  Speaker 2: hit one of these ends, there is a huge alpha
• 20:34
  Speaker 2: and we are right there at forty one holding that
• 20:37
  Speaker 2: support basically telling us that the lungs are trying to
• 20:43
  Speaker 2: do another rally into the top end in here. So
• 20:47
  Speaker 2: I'm monitoring this. I'm definitely excited because I'm a holder
• 20:50
  Speaker 2: of etherium. That's another disclaimer public.
• 20:55
  Speaker 1: Well, and I think a lot of people right now
• 20:57
  Speaker 1: are trying to figure out the short ethereal or do
• 21:00
  Speaker 1: they long it because it's in a very unique position.
• 21:03
  Speaker 1: As you identified, there a couple of times that's hit
• 21:06
  Speaker 1: those lows, reversed back up and started to see these
• 21:10
  Speaker 1: parabolic moves. And Eth has been one that just has
• 21:14
  Speaker 1: not had its day yet, or at least it feels
• 21:17
  Speaker 1: that and it may fall back on it is that
• 21:19
  Speaker 1: Ethereum leads the a coin runs, which is what everybody
• 21:22
  Speaker 1: has seen in past cycles. Question, of course, is this
• 21:25
  Speaker 1: the same kind of thing in this cycle going forward?
• 21:28
  Speaker 1: I want to jump into Optimism a little bit speaking
• 21:32
  Speaker 1: of Ether yet Jesse over on coinbase talking about this
• 21:36
  Speaker 1: eight million in op rewards. So Optimism is trying to
• 21:39
  Speaker 1: build in more developers, so they're doing some retro funding
• 21:43
  Speaker 1: for on chain builders and of course you can apply
• 21:45
  Speaker 1: over there, so check it out. But when you look
• 21:48
  Speaker 1: at Optimism right now, also on the downtrend, we've seen
• 21:52
  Speaker 1: consistent potential here of this token, especially within the ETH community.
• 21:58
  Speaker 1: What does your chart show around op Tomaism right now
• 22:00
  Speaker 1: as the.
• 22:01
  Speaker 2: Buy I think so. I think so At the moment
• 22:06
  Speaker 2: Optimism on the price action, we can see that is
• 22:10
  Speaker 2: holding the support of one dollar. We held it on
• 22:14
  Speaker 2: the fifth of focus on fifth of juney twenty twenty three,
• 22:17
  Speaker 2: multiple times. And on the other side though we have
• 22:22
  Speaker 2: broken down. That was on the twentieth of January. But
• 22:25
  Speaker 2: many coins did this. It's not just something unique or
• 22:29
  Speaker 2: bad about Optimism. Different coins are doing it with different quality.
• 22:37
  Speaker 2: Some of them are breaking down and breaking two levels down.
• 22:40
  Speaker 2: In this case, Optimism has managed now to put a
• 22:44
  Speaker 2: pivot around thirty seven on the RSI, and on Sunday
• 22:48
  Speaker 2: we could be confirming a breakout. This is the same
• 22:52
  Speaker 2: setup that I'm talking about on Ethidium. After breaking down,
• 22:55
  Speaker 2: after a channel down, up down, then we can get
• 22:59
  Speaker 2: a rally in to the support that we just lost,
• 23:03
  Speaker 2: and that is a rally to around one point seven dollars.
• 23:06
  Speaker 2: And why I care about the setup, Well, we have
• 23:10
  Speaker 2: an excessive amount of shorts at the moment, pretty much
• 23:14
  Speaker 2: about to have more shorts than ever before in the
• 23:17
  Speaker 2: whole listing of Optimism on a weekly chart, So that
• 23:21
  Speaker 2: is something really important. Number two, the support of one
• 23:25
  Speaker 2: dollar in here is incredibly strong at the moment. We
• 23:29
  Speaker 2: could potentially, we could potentially lose the support, but I
• 23:34
  Speaker 2: really want a quick reclaim of the one dollar. I
• 23:37
  Speaker 2: always aim for the same. If we lose it, let's
• 23:41
  Speaker 2: ideally reclaim it. And so we can not be talking
• 23:45
  Speaker 2: about sixty four cents or anything like that. But I
• 23:48
  Speaker 2: think between one dollar now, either we just hold it
• 23:53
  Speaker 2: or we go to sixty four cents and we can
• 23:55
  Speaker 2: add a little bit more, but we are very close
• 23:58
  Speaker 2: to getting a rally on the weekly against that resistance.
• 24:03
  Speaker 1: Yeah, I think. Well, the cool thing here is is
• 24:06
  Speaker 1: that within these eth ecosystem there's going to be probably
• 24:09
  Speaker 1: a lot of chains within ethereum that are going to
• 24:12
  Speaker 1: are a lot of projects within ethereum that are going
• 24:14
  Speaker 1: to do really well. I'm still looking at UNISWAP being
• 24:16
  Speaker 1: a potential. Obviously, we'll see what Optimism does along with
• 24:20
  Speaker 1: some others out there.
• 24:21
  Speaker 2: For sure.
• 24:22
  Speaker 1: I want to talk about Suite just so you guys know.
• 24:25
  Speaker 1: They're a channel partner. We talk about them, we get
• 24:28
  Speaker 1: a chance to get data and insights from them when
• 24:30
  Speaker 1: they're doing updates. Walrus was one of them, and they're
• 24:34
  Speaker 1: announcing now that the Walrus main net is coming in March,
• 24:37
  Speaker 1: so just around the corner in case you don't know,
• 24:40
  Speaker 1: Walrus is basically a decentralized storage. Think of this as
• 24:44
  Speaker 1: like a light coin and are we you know, any
• 24:45
  Speaker 1: of those projects, but much more active in terms of
• 24:49
  Speaker 1: real storage. This may be the first real solution on
• 24:53
  Speaker 1: blockchain storage, and we had their one of their CEOs
• 24:56
  Speaker 1: on just here not too long ago. Go back check
• 24:59
  Speaker 1: that video out if you guys want to learn about it.
• 25:02
  Speaker 1: But those very interesting things. They're probably going to start
• 25:04
  Speaker 1: dropping some NFTs and some things like that, and to
• 25:06
  Speaker 1: swee holders wallets for the wall token. If you look
• 25:10
  Speaker 1: at the chart right now on swite, it had a
• 25:12
  Speaker 1: little bit of a recovery yesterday. Where do you like
• 25:15
  Speaker 1: sweet to go in the next few months.
• 25:18
  Speaker 2: So at the moment on suiet, I'm comparing what we
• 25:22
  Speaker 2: are currently doing with what we did end of November, sorry,
• 25:27
  Speaker 2: end of twenty twenty three into the beginning of twenty
• 25:30
  Speaker 2: twenty four, which is to do this whole swing in
• 25:33
  Speaker 2: here and then a channel down. It resembles a lot
• 25:37
  Speaker 2: that activity, and my worry is to repeat it because
• 25:41
  Speaker 2: when we did that, we had a drawdown of almost
• 25:44
  Speaker 2: eighty percent in the price action. I still think that
• 25:47
  Speaker 2: Sue is not going to fully repeat that. So far
• 25:50
  Speaker 2: the drawdown is around fifty five percent, and at the
• 25:54
  Speaker 2: moment we are having trouble with having lost this yellow
• 25:58
  Speaker 2: trend line in here which I mentioned. My target was
• 26:02
  Speaker 2: to go back and test the support but we broke support. Unfortunately,
• 26:07
  Speaker 2: we went beyond that and now we have it as
• 26:10
  Speaker 2: a resistance and there is a confluence in here. There's
• 26:13
  Speaker 2: the confluence of the resistance or resultant or horizontal of
• 26:17
  Speaker 2: three point eight and the one sloping upwards that is
• 26:22
  Speaker 2: also meeting the three point eight dollars. That is our
• 26:24
  Speaker 2: current resistance. And I think I think that very soon
• 26:29
  Speaker 2: the other side is going to aim to do a
• 26:32
  Speaker 2: rally against the top of the channel in here at
• 26:35
  Speaker 2: sixty one, and that could get us back out of
• 26:39
  Speaker 2: this of this trap that we are below the three
• 26:42
  Speaker 2: point eight dollars. I don't think that we are necessarily
• 26:46
  Speaker 2: going to have the same pain that we have from
• 26:50
  Speaker 2: April twenty twenty four up until we got to the
• 26:53
  Speaker 2: bottom of zero zero five dollars zero fifty eight at
• 26:57
  Speaker 2: the bottom of August. I think something is going to
• 27:00
  Speaker 2: curve in here and we're gonna do something different. It
• 27:04
  Speaker 2: is in a barish period, but the recovery, in my opinion,
• 27:09
  Speaker 2: is going to be much quicker than the previous time.
• 27:12
  Speaker 1: MM well, and I think the point with Swee is
• 27:15
  Speaker 1: this is one of those tokens that many people are
• 27:17
  Speaker 1: pointing to as being possibly the star of this bull run,
• 27:21
  Speaker 1: so a lot of people are kind of you know,
• 27:24
  Speaker 1: compare it to what Solana's last bull run was, and
• 27:27
  Speaker 1: it'll be interesting to see because there is a lot
• 27:29
  Speaker 1: of tech they're doing their big event. They have several events.
• 27:32
  Speaker 1: They've got the new handheld device that's getting ready to release,
• 27:35
  Speaker 1: the Sweet Play. That'll be interesting if they make a
• 27:38
  Speaker 1: splash in the gaming sector, especially if it's at the
• 27:41
  Speaker 1: right time, because narrative and timing is super important, especially
• 27:46
  Speaker 1: in this market going forward. All right, Marianna, we're gonna
• 27:49
  Speaker 1: definitely get you back in to chat about some more
• 27:51
  Speaker 1: tokens in the future. Thank you again for coming in today.
• 27:54
  Speaker 1: We really appreciate it.
• 27:56
  Speaker 2: Thanks for having me.
• 27:58
  Speaker 1: You bet good to see you, are you guys? If
• 28:00
  Speaker 1: if you are not in the Diamond circle, get in
• 28:01
  Speaker 1: on that. That's our own email list. It's our own group.
• 28:04
  Speaker 1: You guys will get of course an update on stuff
• 28:07
  Speaker 1: in case you miss something. But it's very easy to join.
• 28:09
  Speaker 1: Just link down below, and of course you can follow
• 28:12
  Speaker 1: me out there on x at Paul Baron. We'll catch
• 28:14
  Speaker 1: you next time right here on Techpath