Latest / The Paul Barron Crypto Show / Bitcoin Short-Squeeze Coming?📈Altcoin Technical Analysis with The Trading Parrot

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Bitcoin Short-Squeeze Coming?📈Altcoin Technical Analysis with The Trading Parrot · The Paul Barron Crypto Show

0:07
Speaker 1: Today we're going to be doing a trading video that'll
0:09
Speaker 1: be breaking down Bitcoin ethereum avalanche. We'll take a look
0:13
Speaker 1: at some other tokens that I think you guys might
0:14
Speaker 1: be interested in as we near possibly a big September,
0:18
Speaker 1: don't miss it. My name is Paul Barre. Welcome back
0:20
Speaker 1: in a tech path. I do want to thank our
0:22
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0:24
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0:26
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0:28
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0:30
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0:33
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0:35
Speaker 1: And the cool thing here is you can get into
0:37
Speaker 1: almost everything, all coins, bitcoin ethereum as well as precious metals,
0:43
Speaker 1: all available in an IRA. Remember always seek tax advice
0:48
Speaker 1: as you're doing in kind of these things. If you're
0:49
Speaker 1: rolling one over or if you're starting a brand new one,
0:51
Speaker 1: just use our link down below. All right, So I
0:54
Speaker 1: want to get into some tokens today. Of course we're
0:56
Speaker 1: going to lead off here with bitcoin and talk about it,
0:59
Speaker 1: and of course, of course we have traders on the
1:03
Speaker 1: show occasionally and we like certain ones that we think
1:07
Speaker 1: do a really good job on explaining not only trades
1:10
Speaker 1: and how markets are moving. So we always invite the
1:13
Speaker 1: best of the best back and joining us again today
1:16
Speaker 1: is of course Mariano from Trading Parrot. If you've never
1:19
Speaker 1: been over to his YouTube channel, check it out. It's
1:22
Speaker 1: right over here. You're setting on thirty two thousand subs here. Mariano. Congratulations,
1:28
Speaker 1: thank you, thank you both. I like it, man, I
1:30
Speaker 1: like it. So let's get into it today and let's
1:33
Speaker 1: talk about bitcoin. A couple of points I want to
1:36
Speaker 1: hit on first. Is this right here. Many people are
1:39
Speaker 1: looking at possibly a short squeeze coming in. Bulls are
1:42
Speaker 1: pressuring around sixty two K. We saw a little bit
1:44
Speaker 1: of movement yesterday and a couple of things are lining
1:47
Speaker 1: up here. We saw employment employment data revisions which was
1:51
Speaker 1: only kind of zoom in on that for everybody, which
1:54
Speaker 1: were pretty much a big disappointment I think in the
1:57
Speaker 1: markets in general, for traditional markets, many end up helping
2:01
Speaker 1: crypto on some of the risk markets as well. If
2:04
Speaker 1: you look at that and you look at what you
2:06
Speaker 1: guys are seeing on the chart, we're seeing that possibly
2:10
Speaker 1: there could be a little bit of movement here possibly
2:13
Speaker 1: meaning could going up to around sixty four to sixty five.
2:17
Speaker 1: What are your thoughts right now on the current chart
2:19
Speaker 1: the way you're seeing bitcoin move.
2:21
Speaker 2: So today, Paul I have prepared quite interesting information about Bitcoin,
2:26
Speaker 2: some signals and some things that are indicating we are
2:29
Speaker 2: starting to pile up the bi signals. Is incredibly how
2:34
Speaker 2: this area around here in the chart in terms of
2:37
Speaker 2: number of signals and reliable signals is starting to remind
2:42
Speaker 2: me all the Parish signals that we were getting at
2:45
Speaker 2: seventy three point five k back in the day. So
2:48
Speaker 2: I want to do a very quick summary for you.
2:51
Speaker 2: So we've been talking about this megaphone that it's quite
2:54
Speaker 2: the typical pattern that you see around the event of
2:58
Speaker 2: the helfing. What we were looking initially at a very
3:03
Speaker 2: positive and very quick recovery outcome this white trajectory in here.
3:08
Speaker 2: Of course that got invalidated with this big red candle,
3:13
Speaker 2: and then we were looking for the plan B the
3:15
Speaker 2: yellow trajectory and we went back to the bottom. So
3:18
Speaker 2: what we are looking now into doing next is to
3:22
Speaker 2: challenge the bull market support plan. It's been three weeks
3:25
Speaker 2: that we are below it and we're starting to gain
3:29
Speaker 2: some momentum to potentially break about that, so I want
3:33
Speaker 2: to show some information additional to just TA. For example,
3:38
Speaker 2: the long term holders are becoming really confident here in
3:43
Speaker 2: their move of accumulation, whereas the shorter holders, which typically
3:47
Speaker 2: are doing the wrong thing compared to the other ones,
3:51
Speaker 2: are starting to sell capitulate, and this is actually something
3:55
Speaker 2: very positive for the market. I'm also seeing, after a
3:59
Speaker 2: long period of large wells depositing, how the deposits are
4:05
Speaker 2: starting to step back and leave some more gap for withdrawals.
4:10
Speaker 2: This is very positive. We are ready below trend line.
4:13
Speaker 2: We broke below the May and we're getting very close
4:16
Speaker 2: to that sweet spot, which is the ratio of one.
4:19
Speaker 2: Anywhere below that one means that there's so many withdrawals
4:23
Speaker 2: that the price just has to squeeze back up. And
4:27
Speaker 2: at the moment I have a cheating code here on
4:30
Speaker 2: the ASI daily. We have had these head and shoulders
4:35
Speaker 2: around July that was telling us early that there was
4:39
Speaker 2: going to be a pullback, and actually an actual big
4:44
Speaker 2: pullback comparable to the one we have around the seventy
4:48
Speaker 2: three point five, which was also then shoulders right there.
4:52
Speaker 2: Then we came back to the bottom when the price
4:55
Speaker 2: of pitcoin crashed to forty nine K, and since then
4:58
Speaker 2: we've been building this moment to the up side. With
5:01
Speaker 2: this momentum to the up side, my fear has been
5:05
Speaker 2: all the time, is this going to be just a
5:07
Speaker 2: dead cut bounce? Are we just bouncing to the fifty
5:10
Speaker 2: fibonacchi just to see our rejection? So we were looking
5:14
Speaker 2: to get in at ANTHERSI of fifty three. Since the
5:17
Speaker 2: moment we were here, we were tracking this and finally
5:20
Speaker 2: we are at fifty three. So this is the moment
5:23
Speaker 2: where we need to see this momentum on the other
5:26
Speaker 2: side to understand whether we are going to break out
5:29
Speaker 2: here to the upside above an others I fifty three
5:33
Speaker 2: and holding there for a day will be impressively bullish.
5:37
Speaker 2: But at the same time, if we break down here
5:40
Speaker 2: with an aggressive move, then things could get very shaky.
5:44
Speaker 2: I'm gonna share some levels that I'm looking in case
5:48
Speaker 2: we break out to the upside of the or the upside.
5:51
Speaker 2: So here we have a triangle pattern that many people
5:54
Speaker 2: are monitoring. We are being held by the CPR levels
5:58
Speaker 2: of the monthly. We'd be one, two, three, four, five, six,
6:03
Speaker 2: seven times trying to attempt to break above sixty two K.
6:07
Speaker 2: So what I'm looking for is a breakout above this
6:11
Speaker 2: triangle will be extremely bullish. Of course, retesting back above
6:16
Speaker 2: sixty one point five will guarantee us or increase the
6:20
Speaker 2: chances that we go for the next liquidation levels. And
6:23
Speaker 2: very quickly I'm going to show you those liquidation levels
6:26
Speaker 2: in the upside. We have this tool here that shows
6:30
Speaker 2: where are all the stop losses and all the accounts
6:33
Speaker 2: of big institutions get liquidated as well. And the closer
6:38
Speaker 2: we want, the closer we have above. The price starts
6:43
Speaker 2: from sixty two eight to sixty three. Then we have
6:46
Speaker 2: sixty five and sixty seven. And if you notice there
6:51
Speaker 2: are three levels of big liquidations right above us below us, yes,
6:56
Speaker 2: we do have fifty five, and we have a little
6:59
Speaker 2: bit of liquidations here fifty seven. If the price will
7:03
Speaker 2: still tend to go and grab that. My thesis is
7:08
Speaker 2: if we hold this momentum to the upside, and we
7:11
Speaker 2: break the triangle and we hold, it's going to be
7:15
Speaker 2: very fast move because we have lots of wood to
7:19
Speaker 2: put in the fire there as a fuel to get
7:22
Speaker 2: to the higher levels and as a trick to start
7:27
Speaker 2: speculating which side is going to be. I'm looking very
7:31
Speaker 2: closely at the dollar index. Of course, this is influence
7:35
Speaker 2: influenced by the rate cards, by the monetary policies. But
7:39
Speaker 2: if you notice what happened right before the last leg
7:43
Speaker 2: up in the previous bull market the dollar index, they
7:47
Speaker 2: crash from ninety nine all the way to eighty nine,
7:52
Speaker 2: and that is what many investors are at the moment
7:56
Speaker 2: looking into. Are we going to see the dollar index
8:00
Speaker 2: breaking down this triangle possively closing this week below one
8:04
Speaker 2: hundred dollars That will be extremely bullished for all the
8:09
Speaker 2: bull case And at the same time, we are already
8:12
Speaker 2: done on the weekly with three consecutive bullish crosses on
8:17
Speaker 2: the stochastic sign higher lows on the adside. Potentially a
8:23
Speaker 2: weekly breakout here coming in. I think all of this
8:27
Speaker 2: is just waiting for the monetary policies to get the
8:31
Speaker 2: final go ahead, so we get there this one is
8:35
Speaker 2: not a fake out, and then we get a breakout
8:38
Speaker 2: from the ADSI as well. And my suspicion is if
8:43
Speaker 2: that happened, it's going to be very quick. So if
8:46
Speaker 2: you're not in a position already on bitcoin, you might
8:49
Speaker 2: miss the train, because this move could be really exploded. Also,
8:53
Speaker 2: as many people are referring to as a short squeeze,
8:56
Speaker 2: we had the funding fees at extreme red numbers, which
9:02
Speaker 2: we haven't seen in quite a long time in binance.
9:04
Speaker 2: All of that together with many signals for example, this
9:08
Speaker 2: v one on the viixpi that before gay one and
9:14
Speaker 2: eighty percent just trigger a couple of days ago. So
9:17
Speaker 2: we are starting to accumulate so many signals that are
9:21
Speaker 2: positive for the market that I'm prepared for that if
9:25
Speaker 2: things delay a little bit longer, I'm also ready to
9:29
Speaker 2: buy lower levels as well.
9:31
Speaker 1: All right, So I mean this is quite very polish
9:34
Speaker 1: right now, Mariano, based on a lot of these strengs
9:36
Speaker 1: you're outlining here, what about ethereum, Because there's a couple
9:39
Speaker 1: of people looking at ethereum and looks good, but it
9:41
Speaker 1: needs to continue its climb. Right now. It has been
9:45
Speaker 1: getting a little bit of adjustment, but there's nothing between
9:47
Speaker 1: around twenty seven and thirty one when you look at
9:52
Speaker 1: the trigger for ethereum to get into back to a
9:55
Speaker 1: three K. Is there anything you're seeing in your charts
9:58
Speaker 1: that would indicate that it m being that in that loop.
10:02
Speaker 2: For evidium, I'm looking into the weekly chart and I'm
10:06
Speaker 2: looking specifically at the other side the movement below this
10:10
Speaker 2: trend line, and as you can see, it's been printing
10:14
Speaker 2: lower laws and lower highs in the momentum. But we
10:17
Speaker 2: are reaching a level where we could positively start finding
10:22
Speaker 2: some support at the level of forty. Let's remember we
10:25
Speaker 2: are in a bull market, so getting on the weekly
10:28
Speaker 2: on another side below forty puts us back in a
10:32
Speaker 2: bear market territory. So my thesis is that we should
10:35
Speaker 2: be expecting some sort of bounds from this forty and
10:39
Speaker 2: potentially start challenging this trend line. For me, the go
10:43
Speaker 2: ahead on IFIDIUM in terms of expecting a big move
10:48
Speaker 2: to the up site is once we break this line. Also,
10:52
Speaker 2: if we look at the price action around this time
10:56
Speaker 2: in the market, around twenty twenty, and we were also
11:01
Speaker 2: waiting for the dollar index to come back down, we
11:04
Speaker 2: were waiting for cutting the raids monetary policies, kind of
11:09
Speaker 2: same story just repeating every four years. Interestingly, but at
11:13
Speaker 2: this point in times there were also people saying, oh,
11:16
Speaker 2: if video instead, nothing is going to happen, And I
11:19
Speaker 2: just want us to appreciate how fast can it be
11:24
Speaker 2: once it starts, once all the conditions are met. In
11:27
Speaker 2: terms of monetary policy, timing in the market, exiting the summertime,
11:34
Speaker 2: and eventually it just enters around that you know, leaves
11:38
Speaker 2: everybody behind if you are not already in a position,
11:42
Speaker 2: and I will expect that that will trigger once we
11:46
Speaker 2: get the breakout on the Weekly in here.
11:50
Speaker 1: So watch the Weekly right now on eight. That will
11:52
Speaker 1: give you guys a little bit of an insight, you know,
11:54
Speaker 1: going forward on this. And this is a strong talking
11:56
Speaker 1: that we you know, we obviously talked about a lot
11:58
Speaker 1: here on the show because it has such a vibrant ecosystem.
12:03
Speaker 1: I do want to also recommend you guys jump over
12:05
Speaker 1: to our Diamond Circle. This is our own private member group.
12:08
Speaker 1: You guys can jump right in there. It's free. We
12:11
Speaker 1: do additional trading concepts, but we also do a lot
12:14
Speaker 1: more in the way of research, So check it out.
12:17
Speaker 1: It's free. Just go over to Paul Baron Network. You'll
12:19
Speaker 1: find us over there. I want to go over to
12:21
Speaker 1: Tron real quick, Mariano, and one of the things I
12:24
Speaker 1: want to hit on with Tron is justin sun now
12:27
Speaker 1: part of this. We did a video yesterday and we've
12:29
Speaker 1: been talking about the transaction fees on Tron they're coming down.
12:32
Speaker 1: Justin promised that, you know, with this bump in interest
12:36
Speaker 1: in Tron due to some of the meme token ecosystem
12:39
Speaker 1: that's starting to build up and sun Pump which is
12:44
Speaker 1: kind of the pump dot me version for Tron. But
12:46
Speaker 1: he's talking about currently transaction fees are down on the
12:50
Speaker 1: Tron network have been reduced to two point seventy six
12:52
Speaker 1: so per transaction average fee, very low on per transaction,
12:57
Speaker 1: very competitive fee rate. He says, let's they're.
13:00
Speaker 2: Ready to go.
13:00
Speaker 1: But he goes on further in another tweet, and it's
13:03
Speaker 1: still early, so do the math. If you look at
13:07
Speaker 1: the market it can create with over sixty billion in liquidity,
13:10
Speaker 1: so we could see a lot of liquidity in there.
13:12
Speaker 1: Total market cap of Tron meme is still less than
13:15
Speaker 1: two hundred millions, so we could see a lot of
13:18
Speaker 1: breakouts on this and the obvious soaken much like an eth,
13:22
Speaker 1: not saying that it's compared TOEP, but when you look
13:25
Speaker 1: at breakouts within these meme ecosystems, usually the mother token
13:30
Speaker 1: like Solana and possibly like Toron, could be on a breakout.
13:33
Speaker 1: What do you think Tron looks like right now in
13:36
Speaker 1: terms of your chart?
13:38
Speaker 2: Well, I've been quite happy with the price section of
13:41
Speaker 2: I'm a tron holder from a long time, so seeing
13:44
Speaker 2: that we are approaching a new to high at this
13:47
Speaker 2: time in the market is really impressive. It shows that
13:51
Speaker 2: it's being used in their use cases. And one of
13:54
Speaker 2: the things that it's very interesting to see in the
13:59
Speaker 2: price action on the weekly is all this area of
14:02
Speaker 2: twenty twenty one and that looks to me like some
14:06
Speaker 2: sort of fractal of what we are seeing in this
14:09
Speaker 2: bull market. So one thing that I pay attention was
14:15
Speaker 2: that in here we have a bull pattern. This is
14:18
Speaker 2: an inverse head and shoulders, and typically an inverse head
14:22
Speaker 2: and shoulders breakout breaks out calculating the high of the head,
14:28
Speaker 2: and then when you project this, that is how much
14:32
Speaker 2: it broke out. So we could repeat the same approach
14:36
Speaker 2: in here and considering this some sort of deformed head
14:41
Speaker 2: and shoulders. Here you have the shoulder, another shoulder and
14:45
Speaker 2: the head. We have this high from here. So one
14:49
Speaker 2: target that we could be achieving in this bull market
14:52
Speaker 2: if we see something similar, if there's this use case
14:55
Speaker 2: and this progresses, is to get somewhere around the seat
14:59
Speaker 2: of four three level.
15:01
Speaker 1: That'd be a three x Mariana.
15:03
Speaker 2: Yeah, yeah, and I think that will be to get
15:05
Speaker 2: started because at that point, when we have this increase
15:10
Speaker 2: in the price, we didn't have this narrative of using
15:14
Speaker 2: it for mim coins or using it in the reverse
15:18
Speaker 2: use cases. I think the way I learned about Tron
15:22
Speaker 2: was just to hold USDT to make very quick transfers,
15:26
Speaker 2: and that was the reason I opened my wallet. But
15:28
Speaker 2: now seeing and exploring new use cases as got me
15:33
Speaker 2: a lot more bolish in Tron.
15:35
Speaker 1: Yeah. I was looking at justin tweet here is everything
15:38
Speaker 1: is just getting started.
15:39
Speaker 2: Storm.
15:39
Speaker 1: This is just a warm up. This weekend is going
15:42
Speaker 1: to be unbelievable. So he's definitely a showman when it
15:45
Speaker 1: comes to pumping Tron. So if you okay, so let's
15:49
Speaker 1: assume if you look at the Tron chart, maybe you
15:52
Speaker 1: missed this little bit of move that we're in. I
15:54
Speaker 1: shouldn't say little bit. It's a nice twenty percent move
15:56
Speaker 1: right now. Is now a good time or would you oh,
16:00
Speaker 1: no way for maybe a rech racement or do you
16:02
Speaker 1: feel like this is maybe Tron's opportunity to run.
16:06
Speaker 2: Yeah, that's a good point. Actually, I'm happy that you
16:09
Speaker 2: mentioned that poll because at the moment we have a
16:12
Speaker 2: breakout above this ranch at seat of fourteen, and we
16:16
Speaker 2: are getting some very signals. And don't get scared that
16:21
Speaker 2: the signals means that it's the end for TRON or
16:24
Speaker 2: anything like that. These are just signals that I use
16:27
Speaker 2: to time a little bit better my entries when I'm
16:31
Speaker 2: in the context of running a swing trade. And this
16:34
Speaker 2: one in particular that we're getting here is called a
16:37
Speaker 2: delta signal, and I want to show you what it means.
16:41
Speaker 2: It means that the moment there are an excessive amount
16:46
Speaker 2: of lungs in a position on TRON, and as a trader,
16:51
Speaker 2: you don't want to be in the majority sign You
16:53
Speaker 2: want to be the one that enters early when there
16:56
Speaker 2: are a very little number of lungs and then there
16:59
Speaker 2: is a rever So that's how you gain the largest
17:02
Speaker 2: move for a swing trade. And this timing, at least
17:05
Speaker 2: on the daily, it's a very hot period to enter.
17:09
Speaker 2: So what I will do is I will wait to
17:12
Speaker 2: see if we hold above zero fourteen. We are allowed
17:16
Speaker 2: to go slightly below it the zero fourteen, but hopefully
17:20
Speaker 2: on the daily we close above that level. We don't
17:23
Speaker 2: want to be a liquidity graph and just allow those
17:27
Speaker 2: shorts to squeeze us back into the ranch and then
17:31
Speaker 2: be forced to close our swing trade in order. If
17:35
Speaker 2: we were to hold in the next days the zero
17:37
Speaker 2: fourteen and let's look at the weekly as well, we
17:42
Speaker 2: could say that that could be a good opportunity to
17:45
Speaker 2: enter at zero fourteen, but that is subject to holding
17:49
Speaker 2: that level for one day. And if you are on
17:51
Speaker 2: the conservative side, see the full week. How we close
17:55
Speaker 2: on Sunday on tron and if we are still above
17:58
Speaker 2: the range of zero fourteen, and it means that this
18:01
Speaker 2: was here to stay and that will be a great
18:04
Speaker 2: opportunity to buy as long as you manage your risk.
18:07
Speaker 2: In case we still go inside the wrench.
18:09
Speaker 1: Well, I want to go quickly over to unicewap because
18:12
Speaker 1: there's some things happening on uniswap. We saw a big
18:15
Speaker 1: move yesterday weekly number of pools now creating on uni swap.
18:18
Speaker 1: Optimism is up, Arbitrum is flying, polygon getting ready to
18:22
Speaker 1: move in. Of course, ethereum all sliding up base. Look
18:26
Speaker 1: at that number five hundred and twelve base is exploding
18:29
Speaker 1: right now, and of course unicewap is seeing some benefits
18:32
Speaker 1: to this. If you look at the uniswap token and
18:35
Speaker 1: you kind of look at the potential here. Forget about
18:38
Speaker 1: what's happening on the legal front, forget about even regulation
18:42
Speaker 1: for a second. Let's just talk about DeFi the power
18:44
Speaker 1: of it and what it can do. When you look
18:46
Speaker 1: at your chart, Mariano, do you like unie swap as
18:50
Speaker 1: a long term play or is this more of a
18:52
Speaker 1: swing play for you? How are you playing this one?
18:55
Speaker 2: That's how I look at the chart, and I'm going
18:57
Speaker 2: to focus on the weekly. I think in the area
19:00
Speaker 2: where we are on UNISWAB is great for accumulation, for
19:06
Speaker 2: holding long term, not necessarily for a swing trade. So
19:11
Speaker 2: if you enter today you might see some downside, but
19:14
Speaker 2: if you are planning to accumulate and hold strong throughout,
19:19
Speaker 2: hopefully the remaining of the bull market that we are
19:21
Speaker 2: assuming is here to stay. But of course nothing is
19:26
Speaker 2: guaranteed in trading. But if we were to do a
19:29
Speaker 2: position for long term, we're in a very very good
19:33
Speaker 2: position in my humble opinion. Here we are on the
19:38
Speaker 2: other side weekly, and I love seeing that this is
19:43
Speaker 2: breaking out in here. This is a move that started
19:46
Speaker 2: from March and we are here in August and just
19:50
Speaker 2: now we are breaking out about that and we are
19:53
Speaker 2: breaking out from a position of other side forty, which
19:57
Speaker 2: I also like. We didn't go that law as we
20:01
Speaker 2: went in the bear market where we went to thirty.
20:04
Speaker 2: So being at forty, still healthy and breaking out about
20:07
Speaker 2: this line is telling me that we are preparing for
20:11
Speaker 2: the rest of the wood market for higher prices. And
20:15
Speaker 2: I would prefer to enter on the weekly close. On
20:21
Speaker 2: the weekly close seeing no rejection here on this trend
20:24
Speaker 2: line at ansa of forty four on the weekly. Let's
20:27
Speaker 2: say we close at forty five or forty six, that
20:30
Speaker 2: will be very boolish for UNISWAP. It will mean that
20:33
Speaker 2: this move on the weekly was genuine, that we can
20:36
Speaker 2: trust it. But let me cover the daily as well.
20:40
Speaker 2: Let's see how those lungs are, because if they are
20:43
Speaker 2: too overextended, you may want to wait a little bit
20:46
Speaker 2: more for support maybe to enter. And you can see
20:50
Speaker 2: that yesterday we were way beyond the highest number of
20:54
Speaker 2: longs that we have seen in the past one hundred
20:58
Speaker 2: and fifty days, wow, which is quite high, and that
21:02
Speaker 2: got a rejectional. Obviously, you enter at that moment, you
21:05
Speaker 2: are following, and then they start taking profits, and they
21:09
Speaker 2: took as many profits as it went, I, that's kind
21:12
Speaker 2: of the expected move. But the good thing is that
21:15
Speaker 2: we are holding strong on the breakout on the daily,
21:19
Speaker 2: so this actually is right there at the resistance. So
21:24
Speaker 2: I will wait to see on the daily a breakout
21:28
Speaker 2: on fifty six on the other side, okay, holding up
21:32
Speaker 2: of it, and the weekly doing this on another side
21:39
Speaker 2: above forty five forty six. Those two things will convince
21:44
Speaker 2: me that we are not just going to continue putting
21:47
Speaker 2: new laws.
21:49
Speaker 1: One thing that is happening though, is over on polygon
21:51
Speaker 1: Big News there a reminder that maddk the token is
21:55
Speaker 1: getting ready to flip over the pole. This doesn't happened
21:58
Speaker 1: on September fourth, so you're most likely you'll see all
22:01
Speaker 1: that start to move. And I think this will be
22:05
Speaker 1: interesting because it could give new interest in the token
22:10
Speaker 1: itself just by in general within crypto Twitter. But if
22:13
Speaker 1: you look at Polygon Matic the token right now, would
22:19
Speaker 1: you wait till all of this kind of flows into
22:21
Speaker 1: the new token and see how things start to flow
22:24
Speaker 1: up on some of the exchanges, or how would you
22:26
Speaker 1: play this one.
22:27
Speaker 2: I'm actually a Matic holder. I'm holding strong with Matic
22:32
Speaker 2: as well. I actually hold all these coins, all these
22:34
Speaker 2: coins that we have mentioned are coins that I like. Particular,
22:39
Speaker 2: this one o Matic has something in common with tron.
22:42
Speaker 2: It also has some sort of fractal that we can
22:46
Speaker 2: relate from the previous cycle. We have this area in here,
22:50
Speaker 2: and then it kind of catapulled to a new ranch
22:53
Speaker 2: from the zero zero one. It went all the way
22:56
Speaker 2: to over a toller and at the moment where we
23:00
Speaker 2: are is a very interesting place. I actually want to
23:04
Speaker 2: highlight three things in here. Number one, there's a number
23:09
Speaker 2: that is calling for attention from confluence from three different things.
23:14
Speaker 2: If we place a v web, an anchor v web
23:18
Speaker 2: from the end of the previous market at December twenty
23:23
Speaker 2: twenty the law here, and we place an anchor v
23:26
Speaker 2: web at the top of the price at two point
23:29
Speaker 2: six dollars, and then we also look at the point
23:31
Speaker 2: of control of the volume. The three of them are
23:35
Speaker 2: calling for zero nine, zero nine dollars. And there's a
23:40
Speaker 2: fourth thing actually that is calling also for zero nine dollars,
23:44
Speaker 2: which is this trend line that is restricting the price
23:48
Speaker 2: with a breakout from this week that is pushing there.
23:52
Speaker 2: If we were then to see our rejection at this
23:56
Speaker 2: neckline and come back here for a retest, we will
23:59
Speaker 2: form a head and shoulders with a neckline at zero
24:03
Speaker 2: fifty four, and the high of the head if we
24:07
Speaker 2: project this target takes us again to zero nine. So
24:12
Speaker 2: it's four things that are pointing to this zero nine
24:15
Speaker 2: I would like to see. Of course, I might be
24:18
Speaker 2: wrong in two ways. In number one, maybe we break
24:21
Speaker 2: out straight away right now. Maybe things are too bullish
24:25
Speaker 2: and we just start going to higher prices, or maybe
24:30
Speaker 2: we get to the shoulder or at zero forty three
24:34
Speaker 2: and we continue going lower. So that depends on what's
24:39
Speaker 2: your play at the moment. I'm already in a position
24:42
Speaker 2: on MATIC, and I'm hoping for higher prices in the
24:46
Speaker 2: rest of the would market. So if we were to
24:48
Speaker 2: continue or coming down, I'm not going to do any action.
24:51
Speaker 2: I'm already invested in MATIC. But if you are sitting
24:55
Speaker 2: on your hands and thinking, Isthmatic a good opportunity. And
24:59
Speaker 2: there are two points. Whether we break out from set
25:02
Speaker 2: of fifty five right now and we come for a
25:05
Speaker 2: retest from above to the seat of fifty five, and
25:09
Speaker 2: that could be calling for those higher prices. And second
25:13
Speaker 2: entry is if we see a rejection a seat of
25:15
Speaker 2: fifty five today and we start coming down in the
25:19
Speaker 2: next weeks and we form the right shoulder, and then
25:23
Speaker 2: later we have a breakout from serio fifty five. That
25:26
Speaker 2: could be the second triggering point to confirm that those
25:30
Speaker 2: higher prices are coming. And why are we going to
25:32
Speaker 2: zero nine? Well, this is just back to the medium.
25:36
Speaker 2: The median with a volume is calling for the price
25:40
Speaker 2: to come back there, it's like a magnet.
25:42
Speaker 1: Let's move on to Avalanche today in the organization, Franklin
25:46
Speaker 1: Templeton brings its money market fund to Avalanche, representing a
25:52
Speaker 1: big component of their move and of course this is
25:55
Speaker 1: very similar to what Biddle is the black rock if
25:58
Speaker 1: you think about, and of course is Ethereum. But a
26:02
Speaker 1: global investment firm one point six trillion assets under management
26:05
Speaker 1: now explaining to one blockchain footprint to Avalanche, So big
26:10
Speaker 1: news for Avalanche. Not only that, but also a gray
26:13
Speaker 1: Scale unveils their investment trust for Avalanche the token as well.
26:18
Speaker 1: So beyond the lookout, we've got a little bit of movement,
26:20
Speaker 1: and of course Avalanche did move. It's one of the
26:23
Speaker 1: top movers of the day. Do you like Avalanche at
26:26
Speaker 1: the current price right now if you are looking at
26:28
Speaker 1: a long term because we get a lot of people
26:30
Speaker 1: that say this token is possibly still in a frame
26:33
Speaker 1: of a ten x in this bull market, what is
26:36
Speaker 1: your position?
26:38
Speaker 2: I would say in terms of timing, Avalanche is a
26:43
Speaker 2: little bit behind what we are seeing today automatic And
26:46
Speaker 2: just to prove that, if we look at the Avalanche chart,
26:50
Speaker 2: we can see that regardless of this bullish green candle
26:53
Speaker 2: that we are seeing straight into the twenty four resistance,
26:58
Speaker 2: it still hasn't broken about the trend line. Where Asthmatic,
27:02
Speaker 2: for example, the one that we were just reviewing before,
27:05
Speaker 2: has already printed a massive green candle showing a breakout.
27:11
Speaker 2: So Avalanche at the moment, what it needs to do
27:16
Speaker 2: next is to break out from this trend line. And
27:19
Speaker 2: what I normally do is I don't expect the price
27:22
Speaker 2: to break out first. What I expect is momentum. Always,
27:28
Speaker 2: momentum precedes the price action, and what we are seeing
27:32
Speaker 2: right now on the momentum in this case, I'm using
27:35
Speaker 2: a site for momentum is on the trend line. On
27:39
Speaker 2: the weekly, we are currently on a candle in progress
27:44
Speaker 2: breaking out. So if again by Sunday we hold about
27:49
Speaker 2: a level of forty three on Avalanche, that will mean
27:53
Speaker 2: a lot in terms of forecasting. That the price is
27:58
Speaker 2: soon going to fall up with the same catch up
28:01
Speaker 2: with the momentum and also breakout. I will say price
28:06
Speaker 2: follows the momentum at least above eighty percent of the cases.
28:10
Speaker 2: So I take that and I start getting bullish as
28:13
Speaker 2: well on a potential breakout here on the price for
28:17
Speaker 2: the upcoming weeks and months. The next targets to look
28:22
Speaker 2: at is this order block at thirty two. But I'm
28:25
Speaker 2: sure that if we continue with the bull market pitcoin
28:29
Speaker 2: pumping towards October November, hopefully, then you're gonna see an
28:35
Speaker 2: old coin season following up after that, following the flow
28:39
Speaker 2: of the money pit coin first, then a higher cup
28:44
Speaker 2: and then the lower cup. So eventually the flow hits
28:48
Speaker 2: these coins and then we no longer look just for
28:51
Speaker 2: thirty two, thirty nine or forty four, but we start
28:54
Speaker 2: talking about two x three x four x. Yeah.
28:56
Speaker 1: Yeah, Mariano, will always fun having you on the show again.
29:00
Speaker 1: Just as a reminder, go over to Trading Parrot The
29:02
Speaker 1: Trading Parrot over on YouTube. You can catch Mariana's latest
29:06
Speaker 1: videos over there, so make sure and check it out.
29:08
Speaker 1: I just watched this one on are you ready for
29:11
Speaker 1: some extra volatility? On that one. So that's a good one,
29:16
Speaker 1: and that'll be interesting because I think bitcoin right now
29:19
Speaker 1: we could see a little bit of moment this week
29:21
Speaker 1: as we go into September, which is going to lead
29:23
Speaker 1: us into possibly a rate cut month, which could get
29:26
Speaker 1: very exciting for bitcoin. Mariona, great having you on. Thanks
29:28
Speaker 1: so much for coming in today. We appreciate it.
29:31
Speaker 2: Cheers, thank you both. You bet all right.
29:34
Speaker 1: So make sure guys, as I said, always like the video.
29:37
Speaker 1: It's one of the ways that other people discover, you know,
29:40
Speaker 1: things about crypto. Maybe they're just getting into trading for
29:43
Speaker 1: the very first time, they haven't even maybe bought their
29:47
Speaker 1: first token. This is how you can help others start
29:50
Speaker 1: to really learn more about it. Just smash the like button.
29:52
Speaker 1: That's all you have to do, and of course follow
29:54
Speaker 1: me out there on Twitter x app. Paul Baron, we'll
29:57
Speaker 1: catch you next time right here on tech Path, Mutt