Latest / The Paul Barron Crypto Show / Altcoin Breakout Soon?🚀Technical Analysis with The Trading Parrot

Transcript

Altcoin Breakout Soon?🚀Technical Analysis with The Trading Parrot · The Paul Barron Crypto Show

• 0:06
  One of the ones that you and I talked about was B and B versus
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  layer ones, other layer ones you kind of compare. Right now, I'll
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  just give you guys a comparison and performance. You know, B and B
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  is the gold line right there. You can kind of i'll see if I
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  can hover over it there, but you can kind of see it. I'm
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  sorry. BnB is the red line. So right there's BnB. Then you've
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  got Avalanche, which has been performing well above, but he has recently dipped
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  down a little bit below. So now you've got B and B. Almost
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  every layer one out there performing about the same. What is your position right
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  now with B and B? So for B and B, I've been looking
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  at the charts and I'm seeing something magnificent going on right here. So if
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  you remember the pattern that we were seeing on ethium on their si Etherium is
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  about to break out. But B and B is fuss based at the moment,
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  printing higher highs and higher lows. And we already have the breakout,
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  and we already have all the golden signals for a potential re entry. And
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  very recently on BnB we have an all time high. So BnB is running
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  fast and strong. It's incredible to be seen already on a layer one,
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  one of the first all damp highs of this whole cycle. So it tells
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  me how strong. Interestingly, because not long ago people were talking about dumb
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  BnB because Binance is going to go bankrupt. There was a lot of fat
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  around all of that, and Binance has been under a lot of issues with
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  regulations being kicked out from different countries. But here it is BnB doing all
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  time high in the cycle, having the breakouts before all the other coins.
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  So it's really impressive in terms of tech as well. Yeah, well,
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  I think the key there with BnB is what we've see in the Asian markets,
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  and it continues to perform versus you know, obviously with some of the
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  other Western markets out there further into other coins right now. In video,
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  I'm just kind of comparison. Everybody's always saying, what's the what's the video
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  of crypto? Maybe people would kind of point to either render or maybe near
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  protocol. What is your position on near protocol right now? So near protocol
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  is an early entry and is subject to a bunch of things that are waiting
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  to happen, but the good news is that it hasn't broken out yet.
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  So you still had the chance to be early potentially on this trait. For
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  example, we can see that from the high that we did on March fourteen,
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  then we print a lower high, and then we enter in this other
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  consolidation kind of downtrend here in the daily but we are entering into a squeeze,
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  and this squeeze is telling me that if ethidium performs well in the next
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  weeks, let's say, with the etheridium approval, and we start seeing that
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  etherdium starts running high, I'm pretty sure that Neir is going to follow and
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  had a breakout from here. And since this is a breakout with an accumulation
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  of energy of one hundred and twenty days, I will expect it to be
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  pretty significant. Many other signals are also accumulating here. We have a crossfield
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  ratio here, and on the percentile, we have very very low performance in
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  the socials. This comes from lunar crash tells me whenever a coin is underperforming
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  so badly, typically that signifies that it's going to go do exactly the opposite.
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  Interesting, okay, okay, So a lot of people compare what has
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  happened with many of these cloud computer platforms, whether or not we see AIAI
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  connection. Render is always kind of at the top of everybody's list. It's
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  been a token that we've identified for years that is going to be a player,
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  and it has become that. When you compare Near and Render, how
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  would you play that out? Because Render, of course now also being suppressed
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  quite a bit on the chart. Do you have a potential opportunity there that's
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  similar to Near or not the same? Let's have a look so Render,
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  I didn't look at it today, but I can see very quickly here that
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  we have a very similar setup. Many old coins have suffered a lot,
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  and they were selling out doing lows as March, some of them as as
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  November before the whole run, so they erased most of the gains that we
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  saw during the past six months. But right now, if we are not
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  seeing a breakout that starts from February, we are seeing it from May.
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  And this accumulation here looks pretty solid to me. Let me explain a little
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  bit more. We have bullish divergences here underneath accumulating. We have a channel
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  that's starting to push to the upside with pressure to break above this trend line.
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  And at the same time we are seeing again once again the socials.
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  We are seeing the shorts staying in the very extreme of shorts, and typically
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  when you see so many shorts for an extended period of time, that is
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  just a countdown for them to also see a short squeeze getting liquidated being used
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  as fuel to push the price to your levels as well for a comeback.
• 5:46
  All right, so a lot of people kind of pointing at mime coins right
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  now. Are they dead? Are they out of the race? You know,
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  you look at some of the titans out there, whether it's those Pepe,
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  even if you now see some of the new surge mean coins, including
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  things like that with a bank, et cetera. You had an analysis on
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  Pepe that you wanted to bring in. I would love to kind of hear
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  this because do you see a breakout with Pepe coming in? Yes, So
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  let me show you the chart with Peppe looks also very interesting. You're going
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  to think that it's a coincidence, but actually I went through a lot of
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  coins and I found that this short list of three or four are either breaking
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  out today or very close to a very intense breakout. And here we have
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  Peppe. We are below the trend line as well. That is very sweet
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  spot to be and we are approaching the trend line, so I never take
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  the trade before cout. I wait for the daily candle to close above this
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  trend line. And at the same time, I looked to the left hand
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  side and I start scanning for areas where there's very low activity in the socials,
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  telling me that people get tired of the coin, that the shorts are
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  pushing very strong. Here at the low end, we can see loads of
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  shorts, and when we enter that area and the shorts get too confident,
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  the socials are very low and we see that we are approaching this level that
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  is where the lungs love to come back and then to punish those shorts,
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  and then we start seeing those explosive moves that people think, where are they
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  coming from? You know, those have usually an explanation as well. Yeah,
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  well, I like the analysis on this. This is you know a
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  bit of a different angle that you know, from time to time we have
• 7:43
  traders on that you know, have different comparisons. In many cases, I
• 7:46
  think you have a different set of tools that is great for some of our
• 7:50
  audience to really kind of get some insights, specially around things like technical trading.
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  So listen, Marian, it's been great having you on the show today.
• 7:59
  Thank you so much for coming in. We appreciate it. Thanks for
• 8:03
  having me. Thank you. Yep, you bet all right. Guys.
• 8:05
  By the way, if you're not over and checking out the Trading Parent,
• 8:09
  gover his YouTube channel. It's just the Trading Parrot. You can find it
• 8:13
  over there. Let him know you came over from PBN and follow this guy.
• 8:18
  I think this is he's got some interesting angles on this one thing that
• 8:22
  is going to be happening this week. We're going to continue to see more
• 8:26
  and more regulatory fronts coming in as well as legislative potentials that could be lining
• 8:31
  up with the Biden deministration. We'll report with you guys on that. We'll
• 8:33
  have a video breaking down the roundtable coming in along with some of the things
• 8:37
  that are happening in the House with some new bills along with that. So
• 8:41
  for you American people out there that are looking at where the market is,
• 8:46
  especially around the political landscape, make sure stay tuned and subscribe to the channel
• 8:50
  right now. It's one of the best places that will get you that kind
• 8:52
  of content. If you're not in our Diamond circle get in on that as
• 8:56
  well. It's a great place to get additional content or follow me out there
• 8:58
  on x at Paul Baron. We'll catch you next time right here on Techpath. Mm hmm