Bitcoin Crash Over?💥Altcoin Technical Analysis
BlackRock’s Bitcoin exchange-traded fund (ETF) reached $2 billion in assets under management (AUM) on Jan. 26, just two weeks after it debuted on the Nasdaq. On-chain data shows that Bitcoin miners have been participating in selling recently.
00:00 Intro
00:22 Sponsor: Lux Algo
00:42 Bitcoin Crash over?
04:12 Ethereum
06:04 Solana
08:31 FLOW
10:39 Avalanche
12:03 Rarible
13:28 Tesla
15:58 Hut8
18:08 Outro
#bitcoin #Ethereum #Solana
~Bitcoin Crash Over?💥Altcoin Technical Analysis~
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All right so let's take a look at Bitcoin today and take a look whether or Not the markets are actually in a full Maybe recovery or are we getting a nice Bull trap we'll take a look at that you Guys are going to love it my name is Paul bar welcome back in Tech path Before we get started I want to thank Our sponsor and that is Lux algo if you Guys are looking at going into enhancing Your whole trading experience Lux algo Is the way to go one of the things we're Going to do today is we're going to use A lot of the Lux algo chart indicators Across a whole slew of tokens so make Sure and stick around for that use our Special link down below and you guys can Get started I want to lead off with the Bitcoin tracker just to give you guys Blockworks has done a really good job on The Bitcoin tracker that kind of gets Into all of where everyone is today and If you look at Black Rock right there at The top AUM right now at around 20 Billion uh grayscale around 20 billion Right there black rocket around 2 Billion man that's up quite a bit there Just in the last day 1.75 billion for Fidelity those are top three right now Kind of jockeying position a lot of People have said okay maybe there's less And less outflows of grayscale and that Is stabilizing the markets we'll get Into some of that today and take a look
At the charts to take a look at the Charts I want to bring in Jacob from Lux Alo so let's jump to it hey Jacob how's It going good how are you B excellent Excellent hey we're going to look at a Few things Bitcoin reclaiming the 41 K Range this looks uh pretty healthy right Now if you are on a maybe a little bit Of a short play when you look at the Current chart I was just looking at a Couple of points here in where this has Come up 4% hut8 mining also had a little Bit of uh shifts upward we're going to Talk a little bit about that later uh Today but when you look at Bitcoin right Now do you like this chart as it sets Right now or are we in for maybe a Little bit of a correction it's Interesting actually um I I do yes I We've been talking on our stream all Week about this 42,000 level and we Think it's quite significant right now Especially on these lower time frames But a biggest thing from probably last Week too we we've noticed this uh Imbalance that was sitting here on the Downside around 38,000 I I really Thought 38k was going to hit um within This past week I mean it if you if you Want to say that it did you could I Guess because it's hit 38,500 but this Case it's like man this level is quite Interesting because you are inside a Recent you know buy imbalance but also
Holding above what I like to look at is These uh you know these fixed range Profiles as well so seeing that holding Above this uh old you know value range In which it was trading a lot um you Know this could be a you know Continuation on the weekly which is Something that I really want to see and That lines up almost perfectly with like The 4100 but even diving into these Lower time frames um you can see we're Starting to break the uh neocloud here On a 4our so structure is currently Trying to shift back to that core Support it was having you know right Above 40K so I would say if it does hold Over that 42,000 it actually might have Treated that one um this little bit of a Retracement here as it's what it needed To get back to those highs so I mean It's looking good so far interesting Okay so a few things happened this week And I think everybody's kind of been uh Having gbdc on the watch list uh James Safer kind of uh chiming in again saying Hey we got another 394 million out of uh Gbdc today uh so that's that still is a Looming factor that I think a lot of People have to realize listen grayscale Is still the largest holder of Bitcoin Out there regardless that we've seen Black Rock really kind of reposition on This so uh as you're trading Bitcoin let Us know make sure and smash a like
Button right now if you do um and if you Are playing Bitcoin I'd love to know Give us some comments down below how you Guys are kind of playing the market I Want to get into ethereum quickly eth is Facing a little bit of a crucial test Right now holding around the 2200 Support which we've seen a few times for Ethereum but we did see a little bit of A breakout when eth had started to Skyrocket above 2400 when you look at The chart right now CU this is one that We're watching very CL clely on Sentiment Trends what does this look like because This is one that's been up and down Where do you like it absolutely I mean Just on uh the the last few recordings We did remember that that 2500 was our Big big uh level watch and we rejected Right off of it comes off of these past Lows that were very high volume back in March of 2022 um that's pretty much what we want To see now it's nice that this structure Is holding over 21 00 um I think 2100 2200 you're fine I think if so long as Price holds that you might eventually Get that retest at 25 and then we could Go from there but um I mean just overall Definitely because it's still lagging Compared to that run that Bitcoin has Had recently so if it is going to kind Of choose these the right level to
Consolidate this would be it it would be Between 21 and 25 it's a great level for That consolidation period before it Decides to make Poss it's similar run That Bitcoin did up into the 3K or even That swing high that Bitcoin actually Retested so I think we're we're all set Right now um for sure where would you Would you make a position on on eth Right now as where as trading Today um for a weekly uh if you if You're not a day trader and you're an Investment like an investor absolutely I Think you know anything around the 2K Mark is fantastic um okay especially With the pending you know lurking news On the ETFs as well that's going to Drive a lot of a lot of uh buyers to This market so yeah um let's jump over To salana for a second a couple of Things happened with salana I'll kind of Zoom in on this tweet right here uh Because this is a this is actually a Pretty big deal it's called token Extensions this is a new update on Salon The blockchain and it really does change Some very big things around how you'll Be able to really kind of program smart Contracts that's a pretty big issue now Does it move the token we did see Sal Start to get a a correction in the Market I think a lot of that has been Because of Bitcoin and people taking a Look at you know some of the altcoins
With it if you look at salana it's Trading now above 90 again what do you Like about salana in terms of a longterm If we were saying hey let's go out to 30 Days on salana what do you think uh We'll see on the Charts yeah absolutely um so you know The daily this is very healthy Retracement um we finally got another Structure break uh which is good uh I Mean we were wanting to pick some up as Below 80 as we could get I mean we hit Uh a low on this at 7887 so barely hit Below 80 um in this case you know the Last high that it would have retested Would have been right here at 78 you Know right below 80 uh which is you know Really good price action to see uh if I Like go back into a weekly um the rough Part of about a weekly is you had that Really big pump um and something that is Kind of an area in which it's hard to Tell but I mean this this here has shown And all the news that's come out has Shown the strength of what salana can be You know besides obviously that first Initial run but it being able to Stabilize and then make it again it's Definitely you know the the I would say High 70s anywhere in the 70s is a great Area I would consider buying more of um For an entry for a longterm type of Thing but uh right this very second I I There is a potential it could actually
Reach in the 70s again so I wouldn't be Necessarily going long just here right Now right right on salana just to for a Lot of you I mean one of the things that Salana has had in terms of a knock has Kind of been this uptime scenario Interesting note right here maintaining 100% up time for 336 days so almost a Year straight full uptime which is good I mean that's continuing to show Positive movement on salana let's jump Over to flow while you're pulling up the Chart I'll kind of give you guys a Little bit of an Insight here we talked A little bit about this on our gaming Video wrapup If you guys haven't had a Chance to watch that video go check it Out a lot of things happening in the web 3 space flow is a big part of that They're launching their Crescendo which Is really a new update that is really Going to connect to ethereum basically It's that simple with that being the Case there's a lot of opportunities here You look at the flow chart right now This is one that's I think loved and Hated do you like it current Position yeah I mean that's it's it's a Tough one I think the love and hate Comments good um you can love it and Hate it at this level um I mean this is Pretty core support in the in the 70s um As low as 70 it's hit it a dozen times Before it made its rally above a dollar
Um and now it's back down that's what I Don't like it's back down below 80 again So time it comes and retests these Levels there's just a less likely chance Of it actually bouncing for you know a 10th time or whatever you want to say But in this case I mean you are like This level Clearly is you know a decent area in Which people want to trade it so it's a Definitely a good start like if I was Somebody that was just getting into flow Especially looking at a large time frame This here the 70s anything below 80 Would be a good starting position um not Necessarily you just dump in your life Savings thinking okay you know this is This is the bottom type thing but it's a Great start this is a value area you Have you're extended on the oscillator As well um you've shown price be traded Through this level a billion times it's Just good area to start buying some now And then maybe if you do get that dip to Kind of help it run later then you're Okay you can wait to buy more for sure But not not bad not bad okay all right These are tokens that of course we track In the market sentiment index flow has Been kind of uh on a little bit on the Ropes in terms of downtrend sentiment But we are seeing some stabilization on That as well now John Woo was on uh NASDAQ this week we did a video cut of
This and he talked a lot about gaming Being kind of this next generation for Avalanche lot of transactions we've had The Pulsar team on but when you go to The chart of avalanche it's been at this $30 range here for a little bit Jacob And it hasn't been really to get in a Position to break out what do you like About Avalanche right now in the Charts yeah the biggest thing I like is These this retracement the retracement Is very clean it it doesn't it's you Know had this massive run uh you can see It's already it's broken through like It's 50% retracements down to the 6 618 Which is you know a pretty healthy Retracement for anybody considering like Long-term type moves especially after These big pumps uh but again you're Still stuck on a daily downtrend it's Like you can't you can't inevitably say It isn't um so that daily downtrend for Anybody that's wants to be bullish on it You would want to see that break um for To you know see any type of bigger Upside move if I go to like a 4 hour Though I could even see like we're now Starting to show you know rough Structure change I honestly would want To see it above 3350 to actually determine this level um Just because this has actually been a Level that it's treated and tried to Rally off of a few times well you
See right let's go over to rable uh this Of course is rare chain a couple things Have been happening right now they of Course have launched uh this is now on Mainnet so this is a big deal this is a Big move for rable this over it's a Layer three I understand on air arbitrum When you look at Rara R A RI the token Yeah um any signs of Life on this one in Terms of a Trade um in this case you probably Whoever was watching me in that second What looking at the chart is just Something that I like to sway away from Especially if I'm just trading price Action or like actual technical analysis But in this case I mean it's something Where you want to maybe consider doing Research on um seeing if it's worth it But I mean it has shown a peak of volume You can see how small it's been trading Forever and now it's showing life that's You know it's a great sign especially on A weekly chart I mean had a nice pump Here recently definitely way better than What it was doing um last week uh so now I mean mean if if if it actually wants To show a strength and an uptrend I Honestly would have wanted that 145 to Hold um so if it can get back over 145 Then maybe you could see that breakout But for now I I think the volume might Be coming back out of it and people are Waiting for that next move yeah so I
Wouldn't be too wouldn't be too pra to Just buy it right now Jacob I want to Get on a couple of stocks uh here of Course Tesla has been making news mainly Because of their most recent earnings Miss uh and if you're I know some of you Guys have watched our Channel because we Used to cover quite a bit on Tesla and Electric vehicles and one thing to watch Of course is just the narrative because That's the missing link for Elon he Hasn't plugged into Nvidia or AI or Anything that really kind of gives the Market a little bit of upside hope what Does this what does this stock look like Right now cuz I mean it it's pretty much Been in freef Fall yes yeah so the terrible earnings Wasn't great I mean they barely Increased their revenue from last year EPS was down from last year at the same Time it's just not good it's not looking Great um we're down quite a bit but and Their out was Bad their bad exactly yeah exactly um I Mean looking at the chart it's it's it's Quite interesting to see actually the Last earnings report dropped 9% But then shortly after that you had a Similar uh you had another move down Another 9% so it's quite interesting if You take this kind of idea into how that Earnings dropped 9% it's very similar to What we're seeing now if I were to take
A 9% drop after this earnings we see it Comes down right to this perfect order Block Level that rallied before so that Is intriguing to me um seeing that it's Come off 15% off of what it gapped down Before um now of course put an Entry uh it put an entry right down here Below 160 it' be right where this order Block's sitting which I think that Actually is not a bad value but I will Say it is extended um and we all know People will buy Tesla no matter what so Long as Elon is talking well about it That's the difference here though it's Like elon's been a little on edge about Tesla talk and more SpaceX talk so That's where it's kind of maybe you need To kind of keep an eye on what he says About Tesla and then that's where you Start considering where you want to buy But again it could easily come back down To 160 well the other B yeah the other Person I always watch when it comes to Tesla is Kathy Wood here's Cathy of Course she's adding 32 million of Tesla Shares a because of the sell-off so we Had a 12% sell-off so does Kathy know Something or does she just have that Long-term effect because she's very Bullish on electric vehicles and you Know sustainable energy going forward so This will be one to watch uh as well Let's jump over to some Bitcoin min Miners HUD eight was in the news this
Week they had some short selling um Rumors of course Sue inis who's been on Our show many times has responded to This this is their last response we have Reached out to HUD eight for a comment Uh they are laying low right now but When you look at the stock this one Actually took a pretty big hit and then Seems to have stabilized would you make A trade on Hut 8 right now if you look At this Stock I mean looking at it I mean since Let's see all so this is the first thing I like to look at is is this volume Prof Uh profile from the range that's been Trading so back in April of 22 uh we kind of dove into the these low 10 you know low or sorry low 20s down to You know below 10 bucks now you can see This area is an area which people are Willing to buy it and they're also Obviously willing to sell it but they're They're highly trading it in this Zone Um so it's not a actually I would say Below eight bucks like it just went up Above $8 is not terrible for like a Long-term value um so it's like it's at The bottom of this you know pretty high Volume value range I would say you could Have maybe room to 13 from here um Overall though even looking at like a Weekly didn't have a chance to fully Look at that but um you just had a Bearish change of character so it's one
Of those things where you know I if I Were to trade this like in a shorter Term type situation I would want to get Up over like nine 10 bucks trade it back To you know these higher levels but this For the overall chart standpoint is Something I would more so consider a Long-term investment due to you know the Whole crypto boom going on you know the Idea we got it coming up yeah in the Happing and yeah exactly and it also Being at a pretty decent price level so That's something that i' would honestly Consider so a bit of a discount really If you think about miners if you go comp This to Marathon and many of the others Out there that are trading publicly Um this would be one to maybe reconsider So we're watching HUD eight closely Obviously for reasons that you know Affect Bitcoin but we'll definitely keep An eye on H all right Jacob hey it's Good to have you on the show we'll Definitely get back in next week Remember we still got to do our altcoin Portfolio plan because I'm getting more And more people asking about that so What we'll do is we'll give you a heads Up on that our team will reach out and We'll put that package together so we Can really come up with a good one and Uh get that out maybe on one of the next Shows or two okay yeah that'd be great Send it to me and we can totally do that
All right my man thanks for coming in Today we appreciate it yeah thanks Paul Appreciate it you bet all right so you Guys are maybe tuned in on the podcast Jump over to the YouTube channel that's Where you get a chance to see these Charts you really get a chance to see The tools that we use here on the Network and obviously look Alo being one Of them and also a partner with us so Make sure as I said click the link down Below you guys can get to that if you're Not our Diamond Circle get in now it's Additional content more podcasts all That good stuff catch me out there on X Paul Baron we'll catch you next time Right here on Tech Path
