I grew up with nothing. Success felt
impossible until I found crypto in 2018.
I made every mistake, chasing hype and
holding coins to nearly zero. I then
found technical analysis and it changed
everything. My perspective on this
industry and my success within it. Now
I'm passing that knowledge on to you.
Welcome to Bitcoin Revealed, the true
[music] story.
Hey folks, Nick Valdez here, chief
crypto strategist for Verified
Investing. And today we're going to talk
about Bitcoin and the hundreds of
millions of dollars in liquidations as
Bitcoin had a huge sharp plunge earlier
today from the PPI data. So, we'll talk
a little bit about why Bitcoin fell and
identify the key levels of support. And
we have a new promotion for the viewers,
folks. We're going to talk a little bit
more about that as well as my open
trades and upcoming trade setups. And
great news everyone, we're gonna have an
episode on Friday. So, we're going to do
a show tomorrow, no crypto combat. So,
we're going to have an extra long
episode. We'll probably look at some
extra liquidation heat maps for some of
your favorite altcoins. And let me know
down in the comment section what
altcoins you want me to cover. But
before we get into that, let's talk
about the Apex asset, Bitcoin,
everybody. So, what are we seeing on the
Bitcoin chart? Well, look at this. I
love this trend line here. We're looking
at the 4hour candles. And we talked
about this yesterday, the 23rd of August
as well as the 2nd of September. And
then if you look exactly where we hit as
we had a huge, huge sharp sell-off in
Bitcoin. We're going to talk about the
liquidations in a second. And so I'm
watching this level right here to see if
it can hold as support. Now, we're going
to go to the 1 hour. I don't like how it
uh you know is gearing up to potentially
get a little bit closer, but we had a
nice higher high and sorry rather higher
low then another higher low and now
Bitcoin. Oh wow, look at that nice
little push up. Bitcoin starting to move
to the upside. We'll zoom in to the 15.
Yeah, nice little push up here on
Bitcoin. But almost looks like a little
bit of a W pattern. So we might see the
good old WV uh as this moves up. So, if
we see Bitcoin move up to this level
right here, I'll go ahead and draw it
out. The WV pattern, and you can learn
more about this on verified.com. We talk
about chart setups. WV, it's the
opposite of the MA pattern, and where
the V will go to the midway point of the
W. So, this is a classic WV pattern.
We'll see if this plays out. The MA
pattern is basically the inverse where
you have an M and then the A will go to
the midway point of the M. So, uh, we'll
keep an eye out on the Bitcoin charts on
this one. Now, let's zoom out to the
daily. As far as Bitcoin still, you
know, we got to clear this area of
resistance before we can start talking
about bare bare markets over. You know,
59 was the bottom. I'm not feeling too
confident on that until we get above
this channel and then use it as support.
And this is coming in from the November
wick into the May highs. And you can see
we knocked against it one, two, three,
four, four different distinct times and
were rejected every single time with
Bitcoin. Now, let's look at uh the ETF
data yesterday. Major selloff from Wall
Street, $120 million, $46 million the
day before. And we had a nice little in
streak or inflow streak, but now we can
see Wall Street, you know, not showing
the strongest appetite for Bitcoin. Now,
I do want to talk about the liquidation
heat map. This is the 48 hour
liquidation heat map. This is where
leveraged Bitcoin longs and shorts get
liquidated and it kind of gives us a
blueprint for where Bitcoin's going to
bounce, where Bitcoin's going to drop.
You can see yesterday, you know, hit
this area, cleared these, had a nice
little push up, and then this was
probably about when we were doing the
show. I was really expecting some of
these uh shorts to get liquidated, but I
ran US war continued to pop off. We
started to see risk assets start to
decline. Gold's down, silver's down,
treasury yields were going higher, and
as the treasury yields went higher, we
definitely saw a push down on Bitcoin's
price. Now, this area was telling us
where Bitcoin wanted to bounce. You can
see we dipped into this area and had a
nice little move up. But then this
morning, folks, this is a huge, huge
sell-off. $338
million in Bitcoin longs were
liquidated. So, these are traders, you
know, hey, big shout out to Bitbase. I
don't know what they're, you know, the
whales. They're opening these leverage
Bitcoin positions and they expect
Bitcoin to go up. So, they bet on it to
go up. But if Bitcoin goes down, they
get liquidated. So what we're looking at
with this chart is liquidations. The
brighter the color, the more
liquidations. And uh for for now, this
chart is showing $116 million when it
becomes bright yellow. And you can see
right here, we cleared out over $300
million in longs. Where why did we dump?
PPI numbers came in. That was
essentially uh the purchasing uh index
there. It shows the factories. It shows
the warehouses, you know, uh, a good
explanation would be if you're you're
buying a bunch of nails and you're a
wholesaler. So, this isn't what you're
paying at Home Depot. This is what Home
Depot is, you know, paying the other
people or what even they're making it uh
what they're paying for nails. So, go a
little bit further up on the supply
chain here. And it came in higher than
expected, showing a little bit more
inflation than expected. And because of
that, we're getting higher odds of
interest rate hikes. Uh if you go to
poly market you see it was about a 10
15% swing just like that folks. Now
let's get back into the liquidation heat
map uh right now is about equal and what
I find interesting here is we started to
dump. This is this morning. This is
after PPI data came in. This is the 8:30
uh wick right here. So started to push
down started to push down. When did we
find a bottom? When did we start to push
up? If you go straight up from this
green candle, look at that. It's when
people decided to flip short on Bitcoin.
So, when the lines are above, these are
shorts. The lines are below, these are
longs. And you can see right here, you
know, Bitcoin started to dump. Traders,
they're like, "Well, it's starting to
dump. I think it's going to continue to
dump. Let me go ahead and open a short."
That acted as a magnet for Bitcoin's
price to go up. Now, tomorrow's episode,
I'll probably show a lot more
liquidation heat masks for your favorite
altcoins. So again, let me know down
into the comments here. I see you folks
talking about Vchain. We did get a
Vchain trade in. Maybe we'll share the
chart a little bit later. But just one
last glance at this. The long there are
still some shorts that are piling up. No
guarantee that these are going to get
liquidated, but right now, you know, we
we got some traders that might need to
get punished. So we might might need to
push up into a little bit below $78,000.
Let's look at Ethereum. Ethereum has
this nice little double bottom. This is
again 4hour candles. We can go to the
daily here. So you can see right here,
Ethereum just starting to create
somewhat of a of a wedge. I mean, this
is not the sharpest wedge. It's
definitely not a 90 degree angle to the
downside. It's it's almost 180 degrees
would make it a parallel channel. Uh but
right now, you know, ETH just being a
little bit boring, kind of trading
between those two ranges. Let's look at
Salana. Salana, this is the one hour
chart. I got a level that I am watching
on Salana. I am watching this right
here. So, let me uh move it right there.
So, coming in you can see. All right.
Nice little bounce. All right. So, we
established the line with this wick into
this wick. That gives us our trend line.
We move it down. Nice little support.
Nice little support.
What happened today? Look at that,
folks. Look at that, folks. I just love
technical analysis when it plays out.
Now, I did get a scalp trade in on my
personal account here on Bitbase, but uh
we didn't get a trade in. This was
around 8 this morning. I go live with
the we got a new show coming up. So,
it's a little bit away from the charts
there. I couldn't really handle the the
major account here, but we got this
little area that was support. You can
see the wick here, the wick here, the
wick here. This might turn into
resistance. So, keep an eye out on this.
I'm not saying, you know, go full port
with a short, but you know, hey, that
might be a nice little level where we're
going to see Salana start to cool off.
That was the 1 hour candle. And if we go
back to the daily, you can see we're
kind of breaking out of this wedge
pattern right here. So, this is going to
be that next level to pay attention to
when it comes to Salana. Now, let's look
at GRT. I see you guys. I do read the
comments. I'm in the comments. You guys
are requesting the graph. Graph the
graph. They said graph the graph. All
right. Well, I give you a little bit of
a graph here, folks. Uh, let me get my
trend line. This is pretty interesting.
Move this up.
We're almost at support. Not quite, but
pretty close to support, folks. So, uh,
that's that's basically what I'm
watching right now on the graph. And we
go to the 4 hour. It looks a little bit
more clean. Let me get this where it's
really really intersecting perfectly
there. Yeah, keep an eye out on this. I
wouldn't I wouldn't be interested in a
trade here until it touches the trend
line at that point. Yeah, you know,
maybe then we can get something going
with the graph. if you just have to
trade it. Now, if you're holding it
longterm,
I'm sorry. I'm sorry. That one is just
down. I told you folks a long time ago,
stay away from this one. Stay away from
this one. But if you got the bottom on
August, you know, hey, definitely need
to take some profits on that one. All
right, let's go to the next couple
charts. Notice we got XRP
XRP making a nice little bull flag. Now,
we could zoom in a little bit. Let's go
to the 4 hour. Uh, look at this. So, we
have our wick here. We have our wick
there. That establishes our parallel
channel. Now if we go ahead and [snorts]
continue to move the parallel channel
down, it bounced again. It rejected
again. It rejected again and it rejected
again. And this is also uh very very
fascinating. Bounced right at the midway
point. So you can see we bounced at the
midway point here. We bounced at the
midway point there. This top line is
going to be your resistance for the XRP
chart. All right, let's get to the next
couple. We got Zcash.
Zcash also very fascinating chart here.
Uh this one kind of gave us the
prediction of where we were going to top
out. This is the one hour candle. We had
a 1 hour inverse head and shoulders. You
see the left shoulder, you see the head,
you see the right shoulder. And so what
we do is we go from the neckline to the
lowest point, measure it from the
breakout. And that essentially gave us
our light nice little level of
resistance. You can see it tried to beat
above that four hours in a row. Wicked
above, wicked above, just kept wicking
above, then got pushed down. Now, I'm
watching the RSI because the RSI is
giving us some good predictions on what
Zcash is going to do. Here you can see a
very classic what they call bearish
divergence, the higher highs where we
were getting lower highs on the RSI. And
so, this kind of gives you nice little
sign of things are going to cool off.
This one's more of a hidden bull div or
bear div, sorry, we see higher highs,
but if you go down to the RSI, it was
equal. So, this isn't a a full-blown
bear div, but it is a hidden bear div.
So, not quite as bearish as this, but
still bearish nonetheless. And so, I'm
not interested in any kind of long until
we see bull divs or at least hidden bull
divs on the 1 hour RSI. So, I wouldn't
be surprised to see us hit a lower low,
maybe come down to this range right
here. Which takes me to the next chart.
We got to sweep the leg just like we
might need to sweep the leg on Zcash. We
got to sweep the leg. Where's Johnny?
Uh, that was his name, right? Can I just
say that's an awesome show, by the way.
I don't want I don't want to sidetrack
too hard. Probably do more of this on
Friday.
But, uh, yeah, the Cobra Kai show. Let
me know if you like it in the comments.
It is. It is one of my favorite guilty
pleasure shows for sure. But I think in
my opinion for pump.f fun, this one has
fallen the most. This one is down. It
was down 20%. Let's look right here.
22%. It was 20% in the last 24 hours.
We're looking at the last 21 hours here.
So, this is a major major flush to the
downside. But, uh, I'm not interested in
trading this one either until we sweep
the leg. Now, this is pretty bullish on
the RSI. This is going to be more of a
uh hidden bull div where that RSI is
flat, flat as a pancake, but the R or
the price is making lower lows while we
have just kind of sustaining level lows
on this one. I'd rather see a bull div
kind of like what we see right here
where I guess it Yeah, it wicks slightly
lower. Not a whole bunch, but hey,
definitely lower. Look how much higher
that RSI is. That gave a beautiful pump.
Beautiful pump. Uh this h ah you know
not quite as clean. So I'm waiting to
sweep that leg, everybody. We got to
sweep that leg. All right. I see you
spamming XLM. I swear it's the person
from two different alt accounts. But
hey, I I'll I'll allow it. I'll allow
it. Let's look at XLM real quick.
We were charting XLM. Yeah, we have our
little bit of uh resistance. Oh, this is
the one hour. Let's go into the daily.
Okay. Okay. Yeah, we're starting to lose
this area. Trying to think. Okay, this
was the old school price here. 18 cents.
We were looking at this a while ago. Uh
you can see where it bounced. It
bounced. Continued to bounce. Little bit
of bounce right there. Turn it to
resistance. Do we have a little bit of
price action around that range? Yeah,
kind of rejected from it again. Uh right
now, this is your resistance. We're
going to have resistance right here on
XLM. That's a heck of a decline as well,
though. Maybe a little bit of a parallel
channel moving to the downside. So, if
you want to go ahead chart that on your
own, you're going to see the parallel
channel over here. And that gives you
nice little Yeah, I mean, right now,
this just kind of in a bearish
downtrend, but as it moves down, that
eventually will break to the upside.
That's what basically you can expect.
Now, I do like talking about the current
trades and the upcoming trades. There is
a current trade that I'm looking at. I I
normally just put in an aggressive entry
before I go live, but I have the the
good entry for you as well. Don't worry,
we don't just go uh this is, you know,
my level's not your level, okay? I I
like to have the live trades and I will
go ahead and reveal and then talk about
the deal we have for the verified
investing uh crew here for for the
community. I'm looking at this 2523
range. This is going to be a nice short
for near protocol. near protocol. Lot of
liquidations above this range. And if
you look here, it's just kind of getting
a little toppy, folks. Getting a little
toppy. We we cleared these wicks. I
don't think it has enough juice to clear
these wicks right here. But I'm This
isn't a long-term trade. This is a swing
short. Okay. Very, very short price
action here. And so, might need to clear
this range right here, 254. So, maybe
start looking around this area right
there. Uh not. Looks like it is trying
to I don't think it's going to break
out, folks. I personally think this
one's going to get pushed down. So, keep
an eye out on this one. 252 and a half,
253, 254, though. 255 uh maybe needs to
sweep the upside here. That's where
we're going to keep an eye on. I didn't
uh I'll show the trades in one second.
This is verified investing investing's
exclusive claw machine. All right, this
we have a link down below. Uh you can
scan the QR code if you're watching the
video. you go down into the comments or
to the description, you'll see it right
here. Try out the verified investing
claw machine brought to you by Bitbase.
That's going to be the link right there.
So, grab your rewards, win exclusive
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have a bunch of draws there. So, click
the link down below and you'll see all
different types of trial funds. So, the
way the trial fund works is you open a
$1,000 or thousand USD Tether trade,
keep the profits, folks, or you can get
little tokens uh of just straight
tether. Uh looking at the trades here,
let's hit refresh. I didn't get a many
many trades in because the PPI data, it
made things a little bit hectic, folks.
Very, very hectic. But the streak is
still alive. The streak is still alive.
We got three winning trades and this
near Hopefully this one. Uh oh, man.
Look at this. This is trying to push
down. It's trying to push down. Push
down. Push down. I will have to close
it. Close this before I leave for the
day. So, if this doesn't push down, this
will end the streak. But again, I I put
in the aggressive entry. 255 254. I'm
jumping in a little bit before 253. And
sometimes I I like to move it right
below, you know, what might be a little
bit of a suspiciously round number. 525,
you know, five and a quarter. I like to
go down 100th of a penny or oneth of a
penny or 1,000th of a dollar rather
onetenth of a penny. So that's what I'm
looking at on Bitbase. Folks, I
appreciate you guys sticking around
until the end. Uh you want me to look at
hype? All right, we'll look at hype just
because you're hyping me up, but hit
that like button. You got to hit the
like button, otherwise I I'll stop right
now. All right, looking at hype.
Hype uh you know did get pushed down
from this range. Try to get above. try
to get above. But if you notice, all
right, let me uh get that right there.
All right, so we're hitting here. We're
hitting here.
We close one, two, three, and then right
here. Uh look at the wick on that one.
Pushed down below, pushed down below,
and it looks like today's daily candle
wicked into it. Looks like it turned
into resistance, folks. Uh yeah, this is
not looking great on the hype chart. We
did take some profit, by the way. I've
taken a little bit more profit on a hype
hype trade. Average entry though is like
30 40 bucks. So, uh, you know, I think
everyone's exit strategy is going to be
a little bit different for this one. But
starting to see this one curve over.
Okay, folks. This is looking a little
bit ugly. Uh, where do we go from here?
I don't think it can go that low because
there is a lot of massive buying. I
think this wick right here, I think
that's going to be a strong level of
support. And so that's what I would be
watching for hype. I'm not saying I'm I
mean I'm not buying at $76, but that
might be a pretty good place for a swing
long virtual. Okay, again, I swear you
guys are just typing on your alt
accounts here. You're on your alt
account. Admit it. You're on your alt
account. Can't trick Dy here. Uh looking
at virtual. Virtual's This chart's ugly.
This one's moving down. Moving down. I'm
personally looking at the bottoms for
support. So, pretty far from where Oh,
yeah. That's That's looking pretty
clean. I mean, that's a ways away. I'm
not interested in trying to short it
into that point. Uh, that's another 18%
to the downside. That's what I would be
watching on the virtual chart. All
right, that's all I got for today. I do
appreciate you guys spamming the
comments. Uh, hey, I'm glad you found
me. MRA. That's right. We used to be
different channel. Now, we're over at
Verified Investing. I'm putting a lot of
these chart setups that you're seeing in
the afternoon on the website in the
mornings. We put out a lot of free
content, daily charts, technical
analysis. We put a little alpha action
post there as well. And we have an app
whether you have an uh Apple device,
whether you're using Google. Hey, maybe
we'll even make a Zoom Zoom uh app
there. All right, don't hold your breath
on that one. But folks, stick stick
around as always. I do appreciate it
when you do. Hit that like button on the
way out. And tomorrow, extra long
episode. We'll look at the ETH
liquidation heat map. We'll look at
Salana. And let me know down in the
comment section what other altcoins you
want me to chart. And I'll see you
there, folks. Bye-bye.