[music]
Hello everyone, Lton here with Verified
Investing back with another ProCharts
video. And in this video, we're going to
talk a little bit about cryptocurrency,
which is kind of going crazy as we see
Bitcoin pushing up very, very nicely
today. But with before I get any further
guys, please consider liking this video,
subscribing to the Verified Investing
YouTube channel, and leave me a comment
of what you want to see next. With that
being said, let's hop right into the
charts now, shall we? And start here
with Bitcoin.
So, Bitcoin up 6%
and basically from Friday up let's see
how far are we up pretty decently about
7% right up 6% today but on this chart
do you guys see any potential patterns
well I see
first of all potential inverse head and
shoulders pattern breaking up and out of
this today
having the left shoulder
head and then right shoulder here. Now
the right shoulder is a lot smaller
but just because it's smaller doesn't
mean it isn't a shoulder. The measured
move would take it all the way up about
30%
just to just about the 107 $107,000
mark. Now,
key areas of resistance coming up.
Basically, this range here from $89
to $98,000.
This entire range here should provide a
decent amount of resistance here on
Bitcoin.
All right. Additionally,
[clears throat] on Bitcoin, you know,
we're we're looking at a couple key
levels coming up. First off, this high
pivot here around 90,000. There's also a
nice psychological number there, 90,000
that should potentially provide some
resistance for the cryptocurrency.
Now, the question is, well, how is this
kind of affected the rest of the
cryptocurrency markets, right? How has
this bled into Ethereum or XRP? And the
answer
surprisingly or unsurprisingly rather is
yes, absolutely. Right. Last time I
talked about this, I talked about how
Ethereum looked like it needed to go
higher. And this entire chart here on
Ethereum looked like a bull flag, right?
Beautiful move up, sideways
consolidation. And if you just want to
copy this move here, basically this flag
pole, if you will, and to a potential
breakout, maybe you see the $3,100
level. And it certainly wouldn't
surprise me, especially if Bitcoin can
get up to this 90K level. I think
Ethereum at 3K is a nobrainer,
right? You're going to have a ton of
resistance. Look at this entire level of
previous consolidation that you have to
kind of get above. But if we can break
in and break above basically basically
2,800, I really think there's a high
probability we get up here close to this
$3,300 levels on Ethereum, right? If you
compare Bitcoin even to the S&P or the
Q's, which is the which is insane today.
Let's just take a a quick look zoom out
here on Bitcoin, right? And compared to
just the S&P, right? XMBB pushing up,
fading near its all-time highs.
Q's, same thing. Meanwhile, Bitcoin has
been left behind. Cryptocurrency have
been left behind. So, in in some ways,
this is a catch-up trade, right? This is
a trade where you're anticipating price
to follow and continue to push up and
catch up to the rest of these uh
uh rest of these
um assets. Excuse me. Next one I want to
talk about is XRP.
XRP uh having a great push up today
following Bitcoin and Ethereum, but you
know, it's actually a little behind.
Ethereum breaking out past recent lows,
pushing up, wanting 28, wanting 33 uh
3,000 and Bitcoin breaking up past these
previous lows down, previous highs
around 8283, passing 86,000, looking for
that $90,000 mark.
XRP isn't even past its highs
of uh $155. Basically, not even past its
$1,700 highs from August, the end of
August, right? So, so XRP has some work
to do, but as with the rest of
cryptocurrency, wherever Bitcoin goes,
the rest of the crypto markets follow.
So for me looking forward on XRP couple
key levels of resistance first 155 we
tested it twice right should provide
resistance on the third one and then
ultimately you know 1700 or not 1700
$1.70 right previous high the highest
point price has gotten since
basically January of this year. So these
are going to be two huge levels coming
up in XRP to keep an eye on. Next one
we're going to talk about is SUI and SUI
the pattern formation has been quite
different right whereas XRP Ethereum and
Bitcoin right they they had potentially
a move up downward sideways
consolidation pretty much a bull flag
perfect bull flag here in Ethereum XRP
kind of right but not quite breaking out
as much sui getting the benefit without
having the bull flag now compared to
some of its uh the other charts we we uh
talked about is way way way off of its
highs. You know, I would argue
significantly lower, but had a great
move up today, crushing and breaking
that key dollar level, $1 psychological
level. Huge level for SUI. If we can get
a get it a daily uh close above this, I
think we could be headed higher. But a
couple key levels of resistance. The
first one is uh 115, right? There's also
a pivot high here that kind of coincides
with that around 167
uh 116 117, excuse me. So, there's going
to be tons of resistance in and around
this area that I'm going to be watching.
But again, crypto markets are just
generally going to follow a Bitcoin.
Last one I want to talk about,
my favorite cryptocurrency generally to
talk about. Uh, Pangu, you know, way
beaten up from its highs. It still has a
decent IP, right? Decent IP, right? As
as they do sell stuffed animals and
things like that in Target, I believe
and Walmart. Um, was looking rough,
right? Was previously looking rough.
Pretty beaten up. Caught a bid here with
Bitcoin. A couple key levels that I'm
going to be watching. First off, this
nice downs sloping trend line depending
on where we run into to that trend line
could very well coincide with with these
previous pivots here around um 0.0098.
099
anywhere in and around this level should
provide um some levels of resistance
here on Pangu. We'll have to end up
seeing what Bitcoin is ultimately going
to do because at the end of the day,
whatever Bitcoin does, the rest of the
crypto markets follow. All right, with
that being said, that's all I have for
you today. Again, my name is Lenho here
with Verified Investing. Hope you all
have a wonderful rest of your day. Don't
forget to like this video, comment, and
subscribe to the Verified Investing
YouTube channel. Hope you have a great
day, and I'll see you next time.
Bye-bye.