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>> Hello everybody, J. Rod Secor with
Verified Investing and guys we've got a
hot commodity to go over today. Guys,
I'm talking about the sector of
cryptocurrency. Cryptocurrency has
literally exploded since the other day
when we had the meeting with President
Trump and other key executives in the
crypto space as well as the SEC
commissioner. So, everything was trying
to get underway to push forward with
this Clarity Act come potentially as
early as mid September. So, investors
are catching this news, hearing about
it, and getting excited, jumping the
gun, and pushing price up on
cryptocurrencies. Let's check out where
all this price action has been going
over the last couple days and how these
news events have changed the charts,
guys. So, if you look at this here, look
at Bitcoin. Guys, look at the last 2-day
push on Bitcoin. Incredible gains today
up 4.4%
yesterday alone on Bitcoin pushed up
8.99%.
So, a nice double day push, but it
happened before, folks. I'll draw this
trend line and show you. You can see
from this pivot low connected over to
this pivot low, you could see price
action was beginning to break down. We
were illustrating that Bitcoin having
failed at least for the near term this
inverse head and shoulders pattern was
on the verge of failing with price
getting under this inclining trend line,
but we can see that narrative changed on
Monday when price accelerated up just
closing on top followed up Tuesday with
positive gains and then all of a sudden
the rocket ship took off on Wednesday
blasting through both of these areas of
resistance, but most importantly this
declining trend line, which is the
neckline of the inverse head and
shoulders pattern. Now that price has
confirmed this breakout, the measured
move target for Bitcoin is $76,116.
You can see that's just under $4,000
away. So, we will likely have some very
good resistance there, specifically if
we continue heading up there within the
next day or two. Notice down here at the
bottom of the screen, I've got the RSI
displayed. And the RSI stands for
relative strength indicator. Whenever
price on the RSI or the value on the RSI
gets above the threshold of 70, that's
considered overbought near-term on
whatever chart you're looking at. In
this case, we're looking at Bitcoin. You
can see we're registering a 79.34
on the daily RSI, implying near-term
guys, we are overbought and due for some
sort of consolidation or pullback. The
main destination where that likely can
occur is here at the $76,000
mark, but beware. We're overbought now,
so a pullback can come at any time. We
have these pivot highs right here that
started this mammoth bear flag on
Bitcoin. That high is 73,978.
That's where I anticipate price to halt
at least for a day or two, but then
eventually could push and hit the 76,000
and then come back down, retest that
level here at 73,000,
and then at that point, we'll have to
determine where price can go with the
new pattern that develops. But that's
what I see in Bitcoin, overbought
near-term, could be due for a pause or
consolidation break within the next
thousand to fifteen hundred dollars, and
then potentially a final little push up
to 76,000, and from that point I see us
pulling back right back down to the
73,600
dollar mark, and we'll re-evaluate where
we go from that point. But great move on
Bitcoin largely. Let's look further back
to see why these parallel channels are
so valuable to us, especially on any
commodity, particularly with Bitcoin. We
can determine cycles, highs and lows
with these parallels, and you can see
most recently we did put in a head and
shoulder pattern on Bitcoin up near the
top of the chart that does have a
targeted move still down here at
$37,000.
Guys, this price target is still valid
as long as price remains beneath this
neckline. This neckline's all the way up
here at 88 to $89,000
on the chart. Now, with this recent news
and with the potential for the Clarity
Act to be passed in September, if those
if that goes well, I do not see a chance
of us hitting that head and shoulders
target down here sub $40,000. But if we
do have hiccups in the next month or
two, don't get that legislation passed
and they have bad news surrounding
crypto, that could stall out this
near-term momentum drive, put price
right back down underneath this parallel
channel, and then we could be targeting
this head and shoulders measured move at
sub $40,000. But as of right now and
moving forward to the Clarity Act, in
essence, near-term, Bitcoin's likely
going to $76,000.
Next up, we've got Ethereum also putting
in two nice back-to-back days of gains
here on the charts. Now, you see
Ethereum a little bit different. It
regained its access to this inclining
parallel channel before Bitcoin did.
Matter of fact, it pushed up and created
a small bull flag right here before
exploding up on the chart. Now,
near-term, we find ourselves into
resistance from this pivot low connected
over to that pivot low curve back here
on November of 2025 connected over to
the pivot high in the April of 26, and
you can see that is the area in which
price today and yesterday ran into sold
off. Today, we actually are budding up
against that at the time of this
filming. So, that's near-term resistance
on Ethereum. Now, if Bitcoin pushes up
to 76,000, Ethereum will likely get over
this declining trend line as we see, and
then test in the high pivots back here
from April
of 2026, April 17th, right at about
$2,500.
But, I don't see Ethereum really
stopping there. Now, yes, if Bitcoin
then turns around and we have bad news
about the Clarity Act in September, then
we certainly could see Ethereum come
back down and test these lows. However,
the way Ethereum has held onto this
parallel tells me that Ethereum is going
to do whatever it can and the bulls are
to hold this parallel again. That
support is 1872.
Once we clear this declining trend line,
my eyes are attracted to this other
in uh the secondary inclining trend line
within a parallel. And I'll bring your
attention to its origin back here in
June of 2022. The main reason, notice
how when price began in this parallel,
how it just continued hitting this same
trend line. Even when price separated
from it, it eventually came back. Look
at that bounce that occurred right on
that trend line before flushing. And
then when it recaptured, bounced,
bounced, bounced right on top of that
trend line. Even pierced before it
ripped higher. Then when it came back
down again, bounced right there at that
trend line. So, that tells me the
destination for Ethereum near
potentially near to mid-term is going to
be up here on this inclining trend line,
$3,064.
So, I like this chart actually a little
bit more than Bitcoin at the current
state.
Next up, guys, into XRP. Another crypto
straight into resistance. Now, XRP is
exploding today and yesterday. Look at
today's gain, 16.54%
just in the last 2 days, over 28%
gains. Nasty move here on the chart of
XRP. No doubt about it, 2 days worth of
gains like that puts us already into
overbought territory, 78.88
on the daily RSI. Now, similarly to
Ethereum, there is an ultimate
destination I do see for XRP that will
be the bottom area of this inclining
parallel channel at $2.35.
We've got a long way to go before we can
do that, guys. So, we need to see a
breakout and then we need to see XRP
hold this declining trend line. That
value by the time it retraces could be
around $1.27.
If we can hold that area, that would be
very, very solid for XRP. Notice that
also is the same area of this pivot high
and these pivot lows going all the way
back here to the origin of this initial
bounce. That's the same spot in which we
likely can catch a bounce after the
breakout and eventually push up towards
the bottom of that parallel. Of course,
the Clarity Act will certainly provide
guidance and illuminate the momentum
behind these altcoin plays, but that's
where I see XRP at least near to
mid-term potentially heading back up
there to that parallel. Just to show you
the parallel, too, that parallel started
back here in January of '25, held price
for the most part when it did trade
around the $3 range, and then you can
see how it held on with this last little
bit of attempt here and then ended up
failing. So, I we didn't have um
a full retrace after this a big
breakdown. So, I anticipate that to
occur uh sometime in the future. Next up
into Hype. Now, this cryptocurrency,
guys,
has literally lifted off. Now, you can
see here we didn't have any significant
drawbacks on this chart mainly because
it's not really been around a lot to
chart. Um but most importantly, it did
um um get brought up yesterday in the
White House about uh a potential avenue
for it to become more legitimized. Hype
is involved in all sorts of markets,
too, with the poly market and Kalash
that you name it. These guys
are likely going to be a new and
upcoming cryptocurrency likely replacing
several other coins like Litecoin that
has somewhat taken the back burner.
But into this technical on the charts
near term beautiful breakout that you
see here on hype. That means this
declining trend line now putting in two
daily closing candles above this
declining trend line means any sort of
pullback to this trend line is a buying
opportunity down here at $62.67.
We do have resistance coming up. We're
overbought near term as you see down
here at the daily RSI 76.16.
The 50% area of the parallel will be
that resistance at $76.02.
Notice how that lines up with the
previous double tops. We're in essence
going up to make a triple top play here
on hype. And eventually if this pullback
occurs, that's your buying opportunity
folks. Start gobbling up some hype for a
breakout retrace bounce play that can
take us upwards of the top end of this
parallel channel. So be mindful of that
for a new buying opportunity in the
crypto space. The upper range of that
parallel does get above $100 by the
middle of September. All right guys,
thanks so much for tuning in and
watching with the pro charts breaking
down the crypto space. These four charts
are on fire. Guys, take the TA I
provided, angle some buying levels of
support that way you can catch the
momentum rather than chasing the
momentum. Catch it when it's falling
right back to you and wait for that
additional bounce play and that moment
momentum to return to the charts. All
right, thanks again guys for watching.
We have a lot of other free videos here
so stick around, check out those free
videos and once you're done guys, don't
worry, we're going to have new ones
coming again and we'll see you right
back here on the charts. Until then,
have a great day folks.