Bitcoin Continues to CRASH: The ONLY Support Levels That Matter

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[music]
>> Hey folks, Nick Valdez here, chief
crypto strategist over here at Verified
Investing, and welcome to Crypto
Revealed, where we're going to be going
over the Bitcoin charts, XRP, Cardano
hype, as well as a major, major chart
that we're going to check in on on XLM,
and I'm even going to talk about the
trade that I opened today. So, I just
want to say thank you for joining. This
concludes my first full week making
content over here at Verified Investing.
I'm loving Florida so far, and I'm just
loving the response from you from you
guys in the Verified Investing
community, and I just want to say thank
you from the bottom of my heart,
sincerely. So, let's go ahead and jump
into the charts, though. We got to lead
things off with Bitcoin, as usual. And
Bitcoin hitting our target perfectly.
Now, it did wick below, but watch what
happens when I zoom in into this 4-hour
chart on this descending parallel
channel. Look at that. You have Bitcoin
trying to beat through the door. It is
punching at the ceiling as we as we
speak and as we look at it right now.
Let's go back to the daily. Now, we have
a couple targets. One to the downside,
one to the upside. We still have the
resistance at 66K. You're just going to
see a lot of daily closes around in this
range in the February and March and even
in the to the beginning of April. And to
the downside, our next level of support
is going to be this descending trend
line. Now, if you'll see this descending
trend line capped the rally within this
parallel range, and then ended up
creating a nice little support zone. And
so, if we do fall down and lose this
range, I am expecting, you know, a maybe
a nice little bounce on this level of
support.
But folks, as you can see right here,
the weekend equals low liquidity. It's
going to be illiquid on the weekends cuz
crypto is not like the stock market.
Crypto 24/7, but a lot of traders,
they're not trading on a Saturday,
they're not trading on a Sunday, and so
you're going to have heightened
volatility on these weekends. And yes, I
know the suit's not on today, but it's
casual Friday, everybody. So, if you're
feeling casual, go ahead and smash that
like button. Now, let's get into the
next chart, everybody. That's going to
be Ethereum. We have to check back in on
our levels here again. Now, we talked
about this 18-19 level, which was the
February 6 pivot low. You can see it
right here, sliced right through,
created a nice little support zone, but
then quickly flipped to resistance. Beat
down on the price, and it beat down on
the price a couple more times before
price was able to shoot above, and then
found this rejection that we pointed
out. This is from 2021 and 2022. You
just see a lot of levels, and you can
also see some recent price action in
that range as well. But, watch what
happens when we go to the 4-hour chart.
Look how clean that is. We're beating
against it, and now you can see one,
two, three different candles have wicked
into this area, and now the fourth
candle on the 4-hour is trying to turn
bullish. So, keep an eye out on
Ethereum. If we do continue the bounce,
I'm still expecting a little bit of
resistance at this 1930 level, but if we
fall down, of course, we're looking at
this descending trend line as the next
level of support.
That's just going to be catching the
tops here. Where you end up seeing the
rally stall out, that creates our trend
line, and then you can see where the
trend line had a lot of effect just over
the past week or two. Uh ended up
capping the rally, and then turning into
support yet again. Now, let's go into a
hot take, everybody. We're going to talk
about
Woo! Maybe one of your favorite
altcoins, and that's going to be XRP.
Now, XRP, from a trade standpoint, also
looking very interesting. Now, this is a
long trend line. This one's going back
almost a year. Let's shrink this Y axis.
You can see how long this has been
beaten down on XRP's price, but recently
we're trying to flip this into support.
Now, XRP's price did shoot above. It's
found one candle for support, then
today's candle also, but if we go into
the 4-hour
you can just see very clean price
action. And that is just remarkable
because this trend line is a year old,
but 1 2 I mean really 1 2 3 4 5 6 7
4-hour candles in a row is respecting
this level. So, keep an eye out on that.
Second hot take of the day.
Oh, some of you going to hate me for
this one, some of you going to love me
for this one, and that is Cardano.
Cardano is actually looking like a
fairly decent trade on the macro
timeline. Now, we do have this first
level of support at 15.6 cents. You can
just see nice support here, nice little
support here. And we didn't quite wick
down as low, but we now we're getting a
nice little bounce on the daily.
We go to the 4-hour, you can see just
very very clean bounce there. Let's go
back to the daily. The next level of
resistance is just going to be this
descending trend line that you can see
right here. Now, you see major support
at 15 cents. And this is why I'm saying
Cardano actually not a terrible trade.
We're very very close to a pretty good
entry, and 15 cents has just been a huge
line in the sand. These are weekly
charts. Folks, this is 2018. This is
2020, and this is December of 2020. Look
how the price interacted with this
level. And if we go back to the daily,
you can see that is going to be a nice
major support at 15 cents. Now, of
course, I've talked about my Cardano
journey. Cardano was one of the ones I
put too much emotion into that token. I
do love Cardano. I love the ecosystem,
but really when it comes to trading,
folks, you got to look at the
fundamentals, and you got to look at the
technicals. And if you want to learn
more about the technicals, I highly
recommend go check out
verifiedinvesting.com.
We put out over 100 pieces of free
content. You don't have to pay for this
content, but if you do want to join the
the live day trading desk, or if you
want to look at some of the courses out
there, I know Lawton has a great crypto
course. Uh you know, we do have some
options for those who want to take their
trading journey a little bit more
seriously. Now, let's get into
hyperliquid, everybody.
Hyperliquid. I sold some hyperliquid at
this range. Now, my entry is very low. I
don't know if you'll ever be able to get
an entry that low again. I started in
the 20s. I ended up buying more into the
30s, and I even bought more into the
40s. But now, I ended up taking some
very nice profit on hyperliquid. But
folks, I just moved to Florida. You
know, I I initially thought, you know,
maybe I'll rebuy on this midway of this
parallel channel. I might be waiting for
the bottom of this parallel channel. Of
course, I I am open to updating my
thesis here, but I just don't like what
I'm seeing with the RSI on the daily. I
wouldn't be surprised to see price chop
around in this range. If we get some
deep deep wicks below, yeah, maybe I'll
go ahead and nibble. I didn't end up uh
you know, catching this trade here.
This one was happening in the middle of
the night. I think this is around Yeah,
this is around 2:00 a.m., 3:00 a.m.
Folks, I'm not trading at that time,
okay? I wake up at 6:00 a.m. So, I miss
those trades. But if we get some deep
deep deep pullbacks, I might be looking
to go ahead and add to my hyperliquid
bag. Like I said, I just moved to
Florida. I'm actually going to the
beach. It is I haven't been to the Gulf
Coast of Florida in my entire life. So,
I am looking forward to that. I almost,
you know, let's just say I have a
birthday coming up. So, maybe take a
little bit of a beach trip. Now, I did
get a trade-in today, and let me show
you my trade. This is going to be on
XLM. We talked about XLM, and then I'm
going to give you my tip of the day
here. My XLM entry, we're going to have
to zoom in on this one. I I've already
closed this long here. Let's go to the
1-hour. I got a nice entry at 18 and a
quarter. So, 18 cents, 18.25 cents. It's
going to be right in uh let's see, about
right here. Again, I missed some of
these wicks.
There's a nice low that I end up
catching this morning. I missed this
one. I missed this one. This is again,
this is at 2:00 a.m. This is at 4:00
a.m. When I saw this dip, it it hit our
level of support. I got in a long and I
have now since closed that long. So, XLM
just listening to our charts perfectly
here. Let's zoom out. Let's recheck in
on this XLM. And then, that's going to
give us our tip of the day, everybody.
This is a quote from William O'Neil.
He's a famous investor. He passed away a
few years ago, but his quote is "The
whole secret to winning big in the stock
market is to sell your winners too soon
and your losers even sooner." I'm more
than happy to lock in those profits. So,
I went ahead, locked in those profits.
Cuz folks, we don't know where we're
heading at the end of this wedge
pattern. Maybe it breaks to the
downside, hits the support at 17.2.
Maybe it breaks to the upside and finds
this nice support right above 20 cents.
The fact is, I don't like the
probabilities. So, I went ahead and
locked in my profits. Now, we do have
this resistance. You just see this
descending trend line and we have this
nice support. This was resistance all
through here for more than a week. Found
support, found support. And then, you
know, the bulls and the bears are going
to be in the middle of a battle. But
folks, I would just give you a lot of
caution trying to trade illiquid
altcoins like XLM on a weekend. Sure, it
might have more liquidity than
your average altcoin, but compared to a
Bitcoin, Ethereum, Solana, or maybe
even, you know, the large mega caps that
you see trading on the week like an IBM,
a Microsoft, there's low liquidity for
this one. So, this one's going to have
some very, very sudden moves to the
upside, to the downside. And I don't
want to lose those profits. So, we went
ahead and closed that trade. Let's jump
back into the chart here. Now, looking
at the next level, I wouldn't be
surprised for it to choose one of these
resistance or support. So, maybe, you
know, crab along on to the downside,
crab along to the upside. We'll monitor
this trade and probably check back in on
this one on Monday. Now, let's go to the
next altcoin. And folks, this is one of
the ones that you guys were requesting.
Like I said, I go into the comments.
You're seeing me replying to you folks.
And again, this is my first full week
making content. I appreciate all the
support. I appreciate all the love I'm
getting from the VI community here.
Let's check in on this one because this
is the coin that you guys wanted to see.
And that's Sui. I hear some people call
it Suey.
Suey just reminds me of that movie from
the '70s. We're not going to get into
the scene. Don't talk about the scene.
But, you know, Suey. Now, let's let's
talk about Sui here, everybody. Uh the
nice little Deliverance reference for
you folks. Now, we do have the same
situation. We have a wedge pattern
playing out. Now, XLM ran out of space.
Sui, we still have, you know, a
significant amount of time. This is
going to be all the way July 25th. So,
we got about, you know, almost 10 days,
about 9 days left for, you know,
basically a major decision, a major
inflection point for Sui. But, we have a
couple areas. We have this resistance
above, and that's just going to be
catching the bottoms right here and
catching the tops right there. If we run
that out, folks, it's going to be right
around 80 cents. Also a strong
psychological level. To the downside, we
have beastly historical support level.
Why am I calling it beastly? Well, let's
go to the weekly, everybody.
You can see it acted as support. Let me
I can actually probably put this on the
daily as well. Boom. Nice little tag
right there. Nice little tag right
there. Uh let me move it just so we can
hit that wick right there. And then,
look at this range right now. So, I call
it beastly cuz folks
this is pretty close. It's pretty close
to the 666 level. However, if it does
happen to say, you know, cuz this
ascending trend line is moving to the
upside hits 67 cents and then 68 cents.
Eventually, it'll hit 69 cents all the
way over here. So, keep an eye out on
this beastly historical support level as
we find a direction to choose outside of
this range. Right now, it is just
respecting the support and right now
it's also respecting this resistance
line. So, that's going to be our show
for the day. Hopefully, you're not mad
at me for, you know, keeping it a little
casual. I like to keep it casual on
Fridays, folks. Let me know if you also
get to do the same in your office as
well. Hey, maybe I have pajamas on. I'm
not I'm not going to tell you though.
I'm not going to tell you. But I just do
appreciate all the support you guys have
been giving me. Nick Valdez for Verified
Investing. Folks, thanks for the
support. I'll see you in the future.