Latest / The Paul Barron Crypto Show / XRP $1 Wall: Break or Bounce?📈Gareth Soloway Technical Analysis

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XRP $1 Wall: Break or Bounce?📈Gareth Soloway Technical Analysis · The Paul Barron Crypto Show

0:00
Speaker 1: Is XRP leading the clarity collapse today? We're going to
0:03
Speaker 1: break it down for you. It's going to be a
0:04
Speaker 1: good one. Let's just jump right into it. I do
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0:41
Speaker 1: Let's go over to mister Gareth Soloway because I wanted
0:45
Speaker 1: to bring him in today and break down a lot
0:48
Speaker 1: of what's happening in the market. Gareth, how are you?
0:51
Speaker 3: I'm good? How are you doing? Paul?
0:53
Speaker 1: Excellent? Excellent? So let's lead off with XRP. First. I
0:58
Speaker 1: want to look at the chart here. In a second,
1:00
Speaker 1: I was following good evening crypto over here, XRP, and
1:02
Speaker 1: I are the only one asking right now, where is
1:05
Speaker 1: Brad garling House With everything that's happening with Clarity. Most
1:09
Speaker 1: of the time Ripple has been out in front, so
1:12
Speaker 1: we haven't necessarily seen that being the case. And XRP
1:16
Speaker 1: dip below a dollar for just a moment on the charts,
1:20
Speaker 1: what does this look like, Gareth, especially going into Clarity
1:25
Speaker 1: the next month.
1:26
Speaker 4: Yeah, So the first thing that caught my attention was
1:29
Speaker 4: the fact that it pierced a dollar, because what we
1:32
Speaker 4: know is that the general public is going to play
1:34
Speaker 4: stops right there, and I'm sure there was a ton
1:36
Speaker 4: of liquidations that went off.
1:37
Speaker 3: There was a lot of volume right there.
1:39
Speaker 4: And what I loved actually about XARP is that it
1:42
Speaker 4: almost immediately bounced back above a dollar. And one of
1:46
Speaker 4: the things that's catching my eye here is that you're
1:48
Speaker 4: now trading almost flat on the chart here. I mean,
1:51
Speaker 4: this is not a bad setup, and potentially on a
1:54
Speaker 4: technical analysis basis, this could be a bottoming tail. So
1:58
Speaker 4: the question is, does did this flush wipe out a
2:01
Speaker 4: bunch of longs and is it now a short term bottom.
2:04
Speaker 4: The other thing that I like about XRP is that
2:07
Speaker 4: we had this longer term wedge pattern, and the wedge
2:10
Speaker 4: pattern broke out, And just because it breaks out doesn't
2:13
Speaker 4: mean it has to rip higher immediately. But the key
2:16
Speaker 4: is it's just slowly staying like this and it's creeping
2:19
Speaker 4: down a little bit. That's okay. You have tons of
2:22
Speaker 4: support around ninety six ninety seven cents potential bottoming tail.
2:26
Speaker 4: We see buyers swooped in today. Those are all signals
2:29
Speaker 4: that actually make me like being long XRP here, So
2:33
Speaker 4: I'm a bull right now. The chart is actually even
2:36
Speaker 4: as nasty as the chart looks, there are green shoots,
2:39
Speaker 4: as we call them in the world of tradfi here,
2:43
Speaker 4: there are green shoots in XRP.
2:45
Speaker 1: Or let's pay the picture that we get clarity in September.
2:49
Speaker 1: I still am skeptical, even though my research team is
2:51
Speaker 1: telling me we think it's going to happen. But let's
2:54
Speaker 1: assume that it does go through somehow, and Ripple benefits
2:59
Speaker 1: from this, because everybody believes that Ripple has all these
3:01
Speaker 1: things pent up to roll out waiting on clarity. Where
3:04
Speaker 1: would you put XRP if that were to go through
3:07
Speaker 1: in September October?
3:09
Speaker 4: I mean I would think there is fifty to one
3:12
Speaker 4: hundred percent upside right, And granted that's not a ridiculous
3:15
Speaker 4: number for a lot of people that have been in
3:17
Speaker 4: this for a long amount of time.
3:18
Speaker 3: But I think you have to just give it some time.
3:21
Speaker 4: Like you know, you just the initial stage here is
3:23
Speaker 4: you want a big bounce that puts in a vertical
3:27
Speaker 4: kind of reversal signal on a bigger time frame. And
3:29
Speaker 4: so I'd be looking at first upside target on the
3:31
Speaker 4: chart really around a buck four, a buck fifty. These
3:35
Speaker 4: highs right over here, we can see how it kept
3:38
Speaker 4: on kind of punching up into this level once twice
3:41
Speaker 4: and three times and it got rejected. So on a
3:44
Speaker 4: clarity pass at about a buck fifty five, I would
3:47
Speaker 4: be saying, all right, that's my first level to see
3:50
Speaker 4: if it can break through. If it can't, okay, let
3:52
Speaker 4: it consolidate. Right, Sometimes charts need to digest the big
3:55
Speaker 4: moves before they can go higher. But on your comments,
3:58
Speaker 4: I'm actually a believer that is going to get through
4:00
Speaker 4: in September or early October. I don't mean to be
4:03
Speaker 4: a cynic about the political world, but my thesis is
4:08
Speaker 4: really as simple. As the elections are coming up in November,
4:12
Speaker 4: I think Trump has lost a lot of the crypto
4:15
Speaker 4: players after the debacle that's happened in crypto and for votes,
4:20
Speaker 4: He's going to try to push this through to get
4:22
Speaker 4: people psyched again before the elections.
4:25
Speaker 1: Well, yeah, that's kind of the basis of our team,
4:28
Speaker 1: is that there's just too much to lose here for Trump,
4:32
Speaker 1: And then you could have to compare everything that's happening
4:34
Speaker 1: with his family, but this whole issue with ethics, even
4:37
Speaker 1: though there has been a little bit of a slight
4:41
Speaker 1: maybe air in the room with ethics in some way,
4:44
Speaker 1: the real question is what happens between now and early
4:47
Speaker 1: September and possibly those negotiations. So, okay, Gareth, I want
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Speaker 1: to go the flip side of this clarity does not pass,
4:55
Speaker 1: where would we see this go? Where would be my
4:57
Speaker 1: low end on this for XRPF if it craters?
5:02
Speaker 4: So I think if it doesn't pass, it and I
5:04
Speaker 4: think the passing it has to be literally shut down,
5:07
Speaker 4: as in like no chance. You're probably going back to
5:11
Speaker 4: the twenty twenty four high pivots.
5:14
Speaker 3: Here.
5:14
Speaker 4: If we look at the chart, you can see there
5:16
Speaker 4: is tons of high moves right in here, right over
5:20
Speaker 4: in this range, all in this vicinity and that would
5:23
Speaker 4: be around seventy cents, So I think your base point
5:26
Speaker 4: is seventy cents.
5:27
Speaker 3: That would be another level.
5:28
Speaker 4: Where I would probably pick a little up if I'm
5:30
Speaker 4: a technical trader and looking for a long but that
5:33
Speaker 4: would be kind of what I would be angling at.
5:35
Speaker 1: Okay, let's take a look at micro Strategy, because this
5:39
Speaker 1: is a question of whether or not this trade is dead.
5:42
Speaker 1: You had Peter Schiff talking about this strategy sold another
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Speaker 1: sixteen hundred and ninety bitcoin last week, and you had
5:49
Speaker 1: where they sold six d and fifty three million worth
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Speaker 1: of discounted micro Strategy shares. So first of all, let's
5:55
Speaker 1: look at micro Strategy. Then I want to ask you
5:57
Speaker 1: about Stretch, and then we'll kind of flow into big
6:00
Speaker 1: in here for our viewers. But strategy in itself, would
6:04
Speaker 1: you play this stock right now or is this pretty
6:07
Speaker 1: much hands off?
6:08
Speaker 3: Would I would in the short term.
6:10
Speaker 4: It has a bullish chart formation, a bullish structure to it.
6:13
Speaker 4: One of the things we can see here is it's
6:15
Speaker 4: been hovering in this tight range now after an initial
6:20
Speaker 4: move up. So here's your little move up. This is
6:22
Speaker 4: all sideways digestion, and as long as we don't really
6:26
Speaker 4: break back below ninety dollars on this price, the probability
6:31
Speaker 4: favors a move up here. So obviously what we need
6:33
Speaker 4: to do now is get through this one Zho four level.
6:36
Speaker 4: Then it should really rip all the way to a
6:38
Speaker 4: buck fifteen potentially higher. But this type of structure is
6:42
Speaker 4: actually a bullish move, where you go up in near term,
6:44
Speaker 4: then you just consolidate, and then you're supposed to finalize
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Speaker 4: the move with another move to the upside. So I'm bullish,
6:51
Speaker 4: and I actually actually nibbled on.
6:52
Speaker 3: This today a little bit.
6:53
Speaker 4: I picked up a little bit in my portfolio, granted
6:55
Speaker 4: a small position because it is high risk, but I
6:57
Speaker 4: did give myself a little bit of shares.
7:01
Speaker 1: Okay, So micro strategy very tied into what's been happening
7:05
Speaker 1: with Stretch, and Sailor has kind of showcased where he's
7:10
Speaker 1: heading with Stretch, and of course it has recovered to
7:13
Speaker 1: a certain extent. But what happens, first of all, will
7:16
Speaker 1: do you think we'll stretch will go back to a
7:19
Speaker 1: dollar in peg?
7:22
Speaker 4: I do think eventually, but I think it's got Yeah,
7:25
Speaker 4: I do think it will eventually. I think it just
7:27
Speaker 4: has to you get to you have to get some
7:28
Speaker 4: bullish sentiment back in the cryptosphere, right. I mean, if
7:31
Speaker 4: you look at sentiment, it's been in the extreme fear
7:34
Speaker 4: zone for just so long, and that takes its toll
7:37
Speaker 4: on people. People start to doubt crypto assets. Any asset
7:41
Speaker 4: that's have been only around for as long as bitcoin,
7:43
Speaker 4: it's going to have doubters that emerge during periods like this,
7:46
Speaker 4: especially when you see the semiconductors running and gold starting
7:49
Speaker 4: to run right now, stock markets near all time highs.
7:52
Speaker 4: You know, people start to doubt that there's there's something here.
7:55
Speaker 4: I still think there is in the crypto markets, and
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Speaker 4: I do think it will peg back to that one
7:59
Speaker 4: hundred love.
8:00
Speaker 1: All right, there you go.
8:02
Speaker 4: All right.
8:02
Speaker 1: So I'm looking at your tweet. It says bitcoin is
8:04
Speaker 1: on the verge of an epic breakout. The trend line
8:08
Speaker 1: extends from the all time high in October down to
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Speaker 1: May twenty six. So path or chart this out for me.
8:17
Speaker 1: Why do you think that is looking so bullish right now?
8:21
Speaker 4: So what we've seen here is this trend line, and
8:23
Speaker 4: why it's so important is it goes back to the
8:26
Speaker 4: all time high. So like if it was a mid
8:28
Speaker 4: level trend line from here down to here, it's kind
8:31
Speaker 4: of like, Okay, well it's in the midst of the
8:33
Speaker 4: bear market, right, but this one actually starts all the
8:35
Speaker 4: way back at the all time high connects through your
8:38
Speaker 4: first point. Notice no other of the pivots in here
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Speaker 4: touch the line until you get here.
8:43
Speaker 3: And what I loved about this.
8:44
Speaker 4: Here is that Notice how it hammered on it three
8:47
Speaker 4: times once twice three and failed. And here you hammered
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Speaker 4: on it once twice, three times and you broke out.
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Speaker 4: Now a lot of people are expecting this monumental epic surge,
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Speaker 4: you know, twenty thirty percent upside. It doesn't work like that.
9:00
Speaker 4: There's too many bears, too many people that are nervous
9:02
Speaker 4: about this. But what you want to see is as
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Speaker 4: long as price holds above this trend line, now it's
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Speaker 4: setting up for that eventual resumption to the upside, and
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Speaker 4: we should.
9:12
Speaker 3: See a move up.
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Speaker 4: You know, first target for me is around seventy one
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Speaker 4: seventy two thousand. If it gets through that, you're looking
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Speaker 4: at seventy seven all time highs. I'm not ready to
9:21
Speaker 4: make a proclamation on that, but I love the fact
9:24
Speaker 4: that you have finally cleared this trend line that goes
9:26
Speaker 4: back to all time highs. That is a step in
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Speaker 4: the right direction.
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Speaker 1: All right, So Gareth, you have to compare this to
9:33
Speaker 1: the S and P five hundred, especially with a clip
9:36
Speaker 1: I'm going to play for you. Actually, let's play that
9:38
Speaker 1: clip first and then I want to get your opinion
9:41
Speaker 1: on this on Bitcoin versus the S and P five hundred.
9:43
Speaker 2: Let's take a look, but under the right circumstances, and
9:46
Speaker 2: the right circumstances being you know, extreme capital markets activity
9:51
Speaker 2: FOMO like we've seen at the peak of every structural
9:55
Speaker 2: technology driven bull market that you could move as high
9:59
Speaker 2: as nine thousand. And what we didn't expect. We thought
10:02
Speaker 2: nine thousand at the beginning of this year looked more
10:05
Speaker 2: like a bubble. But guess what. Earnings have surprised everyone
10:08
Speaker 2: to the upside. And so frankly, nine thousand is no
10:12
Speaker 2: longer even a bubble type thought. We think you can
10:15
Speaker 2: get there before the cycle ends, all right, So crazy.
10:18
Speaker 1: To say that nine thousand not being about Granted, I
10:22
Speaker 1: would agree with him. Earnings have been kind of the
10:24
Speaker 1: on the forefront here for most every many people would say,
10:28
Speaker 1: still though some of that is built on inflation around
10:32
Speaker 1: what we've seen in terms of the growth of the
10:33
Speaker 1: S and P. Over the last ninety days, S and
10:36
Speaker 1: P five hundred rows five percent, Bitcoin fell twenty Garrett.
10:39
Speaker 1: So if you're betting on one or the other right
10:43
Speaker 1: now through the end of this year, where would you go?
10:48
Speaker 3: So, I mean through the end of this year.
10:49
Speaker 4: I love Bitcoin setup right now, So I mean, I
10:52
Speaker 4: do think there's upside in the S and P. I
10:54
Speaker 4: actually have a year end price target around eighty two
10:57
Speaker 4: hundred on the S and P, so that's still a
10:59
Speaker 4: decent I think about six percent move up from here.
11:02
Speaker 4: But could I do I think I can make more
11:04
Speaker 4: in bitcoin? Can I make ten or twenty percent in bitcoin?
11:06
Speaker 4: I do think you can with this breakout in bitcoin,
11:09
Speaker 4: So I would choose bitcoin at this point.
11:12
Speaker 1: Okay, there you go. Eth danger zone or breakout zone.
11:16
Speaker 1: I'm looking at ETH overall. Spot demand is weakening. More
11:19
Speaker 1: buyers need to step in otherwise we could see it
11:23
Speaker 1: go into a correction phase. Would you agree with that
11:26
Speaker 1: right now?
11:27
Speaker 3: I I'm actually I actually love the chart on ETH.
11:30
Speaker 3: Right now.
11:30
Speaker 4: Eth is a fantastic inverse head and shoulders. It's broken out.
11:34
Speaker 4: And what I love about ETH right now is that
11:37
Speaker 4: it's this is what we call the neckline, This orange
11:39
Speaker 4: line and price went above it, retest it, and now
11:42
Speaker 4: is just going sideways.
11:43
Speaker 3: So same structure here.
11:44
Speaker 4: We have an upmove, we have sideways consolidation as long
11:48
Speaker 4: as it holds this trend line around this seventeen seventy
11:51
Speaker 4: five seventeen eighty level.
11:53
Speaker 3: This is a very bullish chart.
11:54
Speaker 4: Now listen, if it breaks there, then you have to
11:56
Speaker 4: admit that the thesis is wrong, and then it's just
11:58
Speaker 4: it could head back down. But in verse head and
12:00
Speaker 4: shoulders off of lows like this are very bullish. And
12:04
Speaker 4: I actually have an ultimate target of around twenty one
12:07
Speaker 4: point fifty in the near term on ETH.
12:10
Speaker 1: Near term twenty one to fifty, and it kind of
12:12
Speaker 1: goes in line with what we're seeing within the market itself.
12:16
Speaker 1: Wall streets starting to explain ethereum a little bit differently,
12:20
Speaker 1: including Morgan Stanley, which is a big one, has published
12:23
Speaker 1: their entire primer explaining ETH, which is interesting to me
12:27
Speaker 1: because this means maybe new investors will start to really
12:30
Speaker 1: understand how this works, and with that it could flow
12:35
Speaker 1: to the point that you're talking about, which is maybe
12:37
Speaker 1: an uptrend here overall, if you look at clarity and
12:41
Speaker 1: the potential here, and we'll kind of go on the
12:44
Speaker 1: situation of you either could go pro clarity or we
12:47
Speaker 1: don't get clarity, and you would compare that with maybe
12:50
Speaker 1: a handful of tokens. One that we did a video
12:54
Speaker 1: on was uniewap, and the reason was because of this
12:58
Speaker 1: little move here by Grace starting to consolidate a lot
13:02
Speaker 1: of their funds and really going heavy on UNISWAP. What
13:06
Speaker 1: do you think Do you like UNISWAP.
13:09
Speaker 3: I tend to like it.
13:10
Speaker 4: Here if we take a look at the chart and
13:12
Speaker 4: let's jump over to that. The one concern I have
13:15
Speaker 4: is that we're kind of coming down.
13:17
Speaker 3: To this key support level.
13:18
Speaker 4: So we could see that if you go back to
13:20
Speaker 4: February of twenty twenty six through March twenty twenty six,
13:23
Speaker 4: and then again in May twenty twenty six and even
13:25
Speaker 4: again in July, we broke out above that trend line
13:29
Speaker 4: and now we've retraced to that level. So for me,
13:32
Speaker 4: the bowl case is still intact. But you need to
13:35
Speaker 4: see UNI swap hold this three dollars and seventy cent level.
13:38
Speaker 4: If that were to break and confirm below, then I'd
13:41
Speaker 4: be a little bit more concerned. But right now, again,
13:44
Speaker 4: I think this is a fantastic opportunity as long as
13:46
Speaker 4: you keep a tight stop at this level. And I
13:48
Speaker 4: just point out what I've liked about some of the
13:50
Speaker 4: crypto markets is that every so often a new coin
13:54
Speaker 4: is starting, or I should say an older coin is
13:56
Speaker 4: starting to rally, Like we've seen recently a Cardona start
14:00
Speaker 4: to make moves to the upside. ICP just in the
14:03
Speaker 4: last days started to perk up. Those are signs either
14:06
Speaker 4: of short covering or something that is. To me, it
14:08
Speaker 4: looks like bubbling. Right it's before the explosion, before the
14:12
Speaker 4: volcano erupts, that they're starting to kind of be rumblings
14:16
Speaker 4: of some sort of move up here. And I do think, again,
14:19
Speaker 4: going back to Clarity, it could be that we come
14:21
Speaker 4: back after I think Congress comes back in early September,
14:24
Speaker 4: and then that's the priority, that's what Trump starts pushing.
14:28
Speaker 1: Yeah. Well, and that's the thing, guys. You will many
14:31
Speaker 1: of you probably think, Paul, you're not too heavy on
14:34
Speaker 1: Clarity right now in terms of its passing. And it's
14:37
Speaker 1: not that I'm giving it a negative spin. What I'm
14:40
Speaker 1: saying is is that you always have to figure out
14:42
Speaker 1: how to play the markets one way or the other.
14:44
Speaker 1: There's always a trade and you just have to be
14:47
Speaker 1: prepared for both, and you could hedge one way or
14:49
Speaker 1: the other. And I think the factor is you're still
14:51
Speaker 1: assuming that there still may be a breakthrough here, and
14:54
Speaker 1: that would really start to position the market pretty heavily.
14:58
Speaker 1: I don't know if you saw this, but we played
15:00
Speaker 1: this the other day, tom Lee claiming that Robin Hood
15:03
Speaker 1: could one hundred x from here. Did you see this
15:06
Speaker 1: clip where he was talking about this.
15:08
Speaker 4: I didn't see the clip. I mean, I mean, listen,
15:10
Speaker 4: anything as possible. But again, you know Tom Lee's known
15:14
Speaker 4: for I still remember two hundred and fifty thousand bitcoin
15:17
Speaker 4: at the end of twenty twenty five, right there was
15:20
Speaker 4: the prediction. So think I think part of it too is,
15:22
Speaker 4: you know, it's all about getting clips.
15:24
Speaker 3: I mean, I do this.
15:24
Speaker 4: You know in some of my thumbnails, you do a
15:26
Speaker 4: little bit more of a sensationalized kind of thing to
15:29
Speaker 4: get the attention. Ten years from now, short, Robinhood could
15:33
Speaker 4: be up, maybe five years. But I think keeping in
15:35
Speaker 4: mind realistic approach just kind of like what you're mentioning
15:38
Speaker 4: is being a little skeptical on clarity until it happens
15:41
Speaker 4: to pass and then saying, okay, we've got it at
15:44
Speaker 4: this point, I think, especially if you're in crypto, skeptical
15:47
Speaker 4: is the way you got to be almost.
15:49
Speaker 1: So anyway, yeah, what about Okay, So, if I'm betting
15:52
Speaker 1: on Hood versus Coinbase, one, which stock am I buying?
15:56
Speaker 1: Not financial advice, but I'm just wondering which one would
16:00
Speaker 1: you look at Hood versus Coinbase?
16:03
Speaker 4: I'd probably go with best of breed on this. On Coinbase,
16:06
Speaker 4: I don't love it at the current levels, but if
16:08
Speaker 4: it flushed a little bit, I think Coinbase has a
16:10
Speaker 4: ton of support around one hundred and twenty dollars. Right now,
16:13
Speaker 4: it's trading around one hundred and forty and change. But again,
16:17
Speaker 4: did break a trend line here, so that's something we
16:19
Speaker 4: have to be a little bit concerned about. On the
16:21
Speaker 4: other side, you have Robinhood, which obviously has gotten into
16:24
Speaker 4: you know, and honestly, the performance of Robinhood has been
16:27
Speaker 4: much better. And if we just look at this spade
16:29
Speaker 4: as a spade, right, so Coinbase is almost purely crypto,
16:33
Speaker 4: granted they're branching out, but Robinhood is much more traditional
16:38
Speaker 4: finance as well as prediction markets, and I think that's
16:41
Speaker 4: why robinhood has performed. So if you go a step
16:43
Speaker 4: further and say crypto starts to perform better, which one
16:47
Speaker 4: would be the recipient of more upside?
16:49
Speaker 3: It would be coinbase.
16:50
Speaker 1: All right, there you go, Gareth. Let's take a look
16:54
Speaker 1: at Solana. You had a chart up here, classic wedge.
16:58
Speaker 1: This is a breakout upside potential. All you're saying around
17:00
Speaker 1: one hundred bucks. This is a strong one because it's
17:04
Speaker 1: trading down in the seventies right now. What is a
17:07
Speaker 1: catalyst for this that would make you think that?
17:11
Speaker 3: That's a good question.
17:12
Speaker 4: And again, the catalyst is always something that you're not
17:14
Speaker 4: quite sure about, is it again? Just that the performance,
17:18
Speaker 4: Like you said, I think what's important to recognize on
17:20
Speaker 4: the chart is that it's been making higher lows even
17:22
Speaker 4: while Bitcoin during this period, Bitcoin, when when Solana made
17:26
Speaker 4: a higher low, is actually making a lower low, right,
17:28
Speaker 4: So there's been relative strength here, you know, In terms
17:31
Speaker 4: of the catalyst aside from clarity, I'm not sure. But
17:34
Speaker 4: what I do know is that this chart is extremely bullish.
17:37
Speaker 4: You got the cup and handle or the wedge breakout
17:39
Speaker 4: right here. Granted it's retracing, but that's super normal. Like
17:43
Speaker 4: we discussed on some of these others, you basically look
17:45
Speaker 4: for these things to come back into technical support here
17:49
Speaker 4: and then use that as a trampoline to make your
17:51
Speaker 4: next move up. And really, if the cup and handle
17:54
Speaker 4: pans out, I mean, that's this trend line right here
17:56
Speaker 4: becomes your target, which again is right at one hundred.
18:00
Speaker 4: But I still think that, you know, you look at
18:02
Speaker 4: this and you have to ask yourself, is there an
18:04
Speaker 4: avenue for a lot of these cryptos to be plays
18:07
Speaker 4: off of the AI revolution?
18:09
Speaker 3: And I actually do think there is. I mean, you know,
18:11
Speaker 3: h Bar.
18:12
Speaker 4: Has multiple deals that involved AI and the AI build out,
18:16
Speaker 4: and I do think that this tokenization side of things
18:19
Speaker 4: is going to be part of the next bull market
18:21
Speaker 4: move in crypto.
18:23
Speaker 1: Well, tokenization agentic to a certain extent will start to
18:28
Speaker 1: see real use case being able to use this on
18:30
Speaker 1: a lot of these blockchains, whether you're looking at Salona
18:32
Speaker 1: out there, and we'll see how those play out. Okay,
18:37
Speaker 1: So would you say right now that the crypto market
18:40
Speaker 1: has bottomed or do you feel like there's still some
18:43
Speaker 1: potential for a reset here?
18:46
Speaker 4: So I don't know if it's bottomed for the cycle,
18:48
Speaker 4: and that's always the big question, right because then you
18:51
Speaker 4: have to look at the four year cycle. How long
18:52
Speaker 4: did these things come down. But what I will tell
18:55
Speaker 4: you is that almost all of the major cryptos like
18:58
Speaker 4: Ethereum or Ether, Bitcoin, Solana, even XRP. Although that chart
19:03
Speaker 4: is a little bit on the weaker side, the signals
19:05
Speaker 4: today tell me there's someone accumulating here.
19:08
Speaker 3: Someone is sneakily buying this up.
19:10
Speaker 4: And that tells me that, at least in the near term,
19:12
Speaker 4: I'm bullish unless key levels are broken.
19:16
Speaker 1: Well, listen to his words, sneakily, someone sneakily is buying this, So.
19:21
Speaker 3: I know something about the Clarity Act.
19:24
Speaker 1: Maybe somebody's got a play on this for sure. Hey,
19:28
Speaker 1: let's jump over to gold real quick. We had ran Paul.
19:31
Speaker 1: He says he has been over to Fort Knox. Why
19:34
Speaker 1: didn't he put out a video on this? I don't
19:36
Speaker 1: understand that one. But he says, the gold's there, one
19:38
Speaker 1: hundred and forty seven million ounces of this. It's impressive.
19:43
Speaker 1: I would listen if I saw that much gold, I
19:45
Speaker 1: would say that's impressive too. But when you look at
19:49
Speaker 1: the chart for gold, it's.
19:51
Speaker 2: On the move.
19:53
Speaker 1: Is it a temporary move here or could we see
19:56
Speaker 1: that five thousand dollars ounce again?
20:00
Speaker 4: So it certainly was a fantastic wedge pattern breakout. And
20:04
Speaker 4: just to show you guys again here what we had
20:06
Speaker 4: is you had this longer wedge pattern, which, by the way,
20:09
Speaker 4: is very similar to what you had on XRP. The
20:11
Speaker 4: difference is Gold ripped out of its versus XRP kind
20:15
Speaker 4: of dribbled out of it, right, But either way, the
20:17
Speaker 4: pattern setup is still the same. You did come up
20:21
Speaker 4: here just in the last few days and hit a
20:23
Speaker 4: resistance point. You have this low pivot right across here,
20:27
Speaker 4: which was support support and support broke resistance and it's
20:30
Speaker 4: hitting here. So this is the one. This is the
20:33
Speaker 4: first big test on Gold. Can it break through this
20:36
Speaker 4: forty four hundred level or does it start to retrace?
20:39
Speaker 4: If it retraces, I'm a big buyer at this. This
20:42
Speaker 4: wedge pattern zone right down here, so I mean basically
20:45
Speaker 4: gets back to thirty nine hundred, I got to be
20:47
Speaker 4: a buyer. I mean, you just look at the debt levels,
20:49
Speaker 4: you look at all of this the you know, Kevin
20:52
Speaker 4: worsh supposedly being super hawkish but then not giving any details,
20:55
Speaker 4: and then we have the weaker jobs data. To me,
20:58
Speaker 4: it's pointing to less rate high or no rate hikes
21:01
Speaker 4: and ultimately more printing of money, and that again is
21:03
Speaker 4: good for gold and it's good for bitcoin.
21:06
Speaker 1: Well, listen, you could look at retail investors now rushing
21:09
Speaker 1: back into gold. This is another signal right here physical
21:12
Speaker 1: gold backed ETF We're seeing movement there. Fifty million in
21:15
Speaker 1: retail inflows that was Wednesday, so largest daily inflow since March.
21:21
Speaker 1: So good, good moves there. And to your point, this
21:24
Speaker 1: could be a precursor to what could be happening coming
21:28
Speaker 1: down the pipe from the FED and also from a
21:30
Speaker 1: macro environment, because I think gold wins either way, whether
21:34
Speaker 1: it's you know, a tumultuous time or even when people
21:38
Speaker 1: are looking at the situation we're dealing right now, which
21:41
Speaker 1: is more macro driven where everybody's just collecting it. You know,
21:44
Speaker 1: you've got the you know, everybody out there is building
21:47
Speaker 1: on their gold coffers. Biggest catalyst right now I want
21:53
Speaker 1: to ask you on because you look at the bonds
21:57
Speaker 1: right now, US bond yields hit five point two eight
22:00
Speaker 1: highest level to two thousand and seven. Okay man, that's
22:03
Speaker 1: a long time Greic. What's the biggest catalyst effecting the
22:06
Speaker 1: markets right now? What would you say, Yen war Fad yet.
22:10
Speaker 4: Or I would definitely, I would definitely go with the yields.
22:13
Speaker 4: I think that is the number one right now. It's
22:15
Speaker 4: basically the thing that's either holding the markets up, it's
22:19
Speaker 4: helping push gold up if it goes if yields come down,
22:22
Speaker 4: and vice versa. But I think because we're such a
22:25
Speaker 4: debt layden economy and country and really the world is
22:29
Speaker 4: I mean, look at Japan and look at the dollar yen,
22:32
Speaker 4: is that more and more rates matter and that's just
22:36
Speaker 4: the end of it. And one of the things to
22:37
Speaker 4: look at, I mean the Japanese The US intervention with
22:41
Speaker 4: the Japanese Central Bank, to me, was a huge event
22:44
Speaker 4: because they didn't sell dollars. They sold euros to strengthen it.
22:47
Speaker 4: So the US said, hey, we don't want to hurt
22:49
Speaker 4: our currency because we know the endgame of this is
22:52
Speaker 4: weakness anyways, so let's go sell euros to strengthen the yen.
22:56
Speaker 4: And what I'm watching here is on this chart of
22:58
Speaker 4: the dollar yen, I'm really focusing in. So we saw
23:02
Speaker 4: the intervention crush and break technical support on the dollar
23:06
Speaker 4: y in. Now we're starting to head back up. Now
23:09
Speaker 4: what should happen here on the chart is we should
23:11
Speaker 4: get rejected and we should start to move lower. If
23:14
Speaker 4: that doesn't happen and we start to go back above
23:17
Speaker 4: and head back to our high to me, that would
23:20
Speaker 4: be epic in that it tells you that even intervention
23:23
Speaker 4: can't stop the train in the direction that it's going
23:26
Speaker 4: with FIAT. And I think that again, it doesn't mean
23:28
Speaker 4: Fiat's collapsing tomorrow, but it just tells us more and
23:31
Speaker 4: more that there's something bigger at work here that's going
23:33
Speaker 4: to play out over years and it's not good for Fiat.
23:37
Speaker 1: No, No, So devaluation, you guys understand how that works. Gareth,
23:41
Speaker 1: if you look at the big sectors right now, would
23:44
Speaker 1: you say that the AI trade is dead? Is crypto
23:48
Speaker 1: a better play right now based on its deflation that
23:51
Speaker 1: it's in terms of market deflation, energy, everything that's going
23:55
Speaker 1: on in the middle least, What sector would you play
23:58
Speaker 1: here or multitude of sectors sectors?
24:01
Speaker 4: Yeah, so I think AI isn't dead, but it's had
24:05
Speaker 4: a healthy correction in many ways. And I think the
24:08
Speaker 4: realization that more plants, it may be a couple of
24:11
Speaker 4: years away, the memory chips, the storage chips and everything,
24:15
Speaker 4: there's going to be more plants coming online over the
24:18
Speaker 4: next few years, which is going to crush margins. And
24:20
Speaker 4: as much as people say this time is different, it's
24:22
Speaker 4: never different, and we are going to see all those
24:25
Speaker 4: stocks come back to realistic levels much much much lower.
24:29
Speaker 4: So for me, I'm certainly not long the memory plays
24:32
Speaker 4: or the AI trade. I think AI is going to
24:35
Speaker 4: change our world. It has already changed mind, but I am
24:37
Speaker 4: more focused in on, at least in the shorter term crypto. Again,
24:41
Speaker 4: that's where people are most negative, which automatically I use
24:45
Speaker 4: it as an indicator to make me more positive. And
24:48
Speaker 4: again I think that that's the space where at least
24:51
Speaker 4: in the next couple months, I think the reward is
24:53
Speaker 4: going to be being in crypto.
24:55
Speaker 1: There you go, guys, being in crypto. If you guys
24:58
Speaker 1: want to follow Gareth, you can do that. We are
25:00
Speaker 1: on Verified Investing right there on YouTube, so check him out. Garet,
25:03
Speaker 1: thanks for coming in today. We appreciate it.
25:05
Speaker 3: Thank you, Paul. It's always a pleasure. Appreciate it.
25:14
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25:17
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