Why $80K Bitcoin Should Worry You [Gareth Soloway]

On Bitcoin

Guest Gareth Soloway · not counted as Crypto Banter's view.

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• Next weeks (next 2–6 weeks): Leans up: I'm still shorter term bullish in the next one month. As long as we can hold this trend line right here. ▶ 27:21
• Next months (next 2–6 months): Leans down (timeframe is our reading): even if we do bounce to like 80 or so, eventually we roll down and go a little bit lower. ▶ 16:29
• This cycle (next 6–18 months): Leans down (timeframe is our reading): you could actually argue and I and again, I still think Bitcoin does go lower, but you could argue that we've already retraced to that same level where we did in the prior cycle ▶ 14:38

If this, then that

• If Daily close below the 62,700 low confirms the bigger bear flag and leads to lower prices, then no target given (next months): if we ever close below this 62,700 level then it looks like the bigger bear flag which is telling us we'll go lower is going to play out. ▶ 16:08

Levels named

• 80–85k: Target (Relief rally while the trend line holds; would turn bearish there): I still think we get a move back up to about 80 to 85,000, which percentage-wise is a pretty good move. ▶ 27:46
• 62.7k: Support (Reversal green candle low; no daily candle has closed below it): we're looking at this 62,700 low. This is what we call a reversal green candle. ▶ 15:46

Their own position: Holding. And certainly, I do have some Bitcoin, right? Again, Bitcoin is kind of the new one on the block, if you will.