Crypto Insider: Weekend Watch | Whats next for BTC, ETH, and ETC Ethereum Classic?

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Hey everybody and welcome back to the crypto Insider I’m Paul Samson uh and today we’re going to cover a couple of things right the crypto Market has been pretty exciting uh we’ve got a little update from our last week uh the Bitcoin areas I was looking for have been

Adjusted quite a bit here right so we’ve kind of seen some movement uh through that 50% uh Fibonacci retracement that I was looking for uh for potential more more upside uh and uh yeah just jump right on into it right we’re going to take a look at Bitcoin ethereum and my

Flavor of the week is going to be ethereum classic all right so here for Bitcoin right uh we had the you know the 49k high we had to plunge down to like 38,500 at the time we were looking for like 395 you know push down a little bit

Lower uh we were looking for the reclaim of this low right here right which we effectively got uh we basically Consolidated right below it for a little bit got the move up and then I was looking for this 0.5 right the 50% retrace from the overall 49k High down

To that $38,000 low right and you know a few things stacked up here we had the quarterly vwap we had you know this last week was our previous week high we had a weekly level that had you know technically not been tapped yet um just

Kind of gave us you know a couple of areas of Confluence you know we obviously met that area got a small pullback but then Consolidated down below and while I highlighted the the gold pocket right above it I really wasn’t giving too much you know thought

To it because you know really of of one one thing here right so uh you know just like any other kind of patterns out there as far as trading would go you know we have inverse Head and Shoulders you have falling wedges there’s there’s all kinds of things that we can you know

Utilize all kinds of tools um and this pattern I’m about to show you I wouldn’t get too overly you know involved or overly concerned with it and how to identify it and what the necessar rules of it are um Everybody kind of tends to get really uh um overly addicted to them

Uh myself maybe included uh but there’s a really specific pattern that I was looking for to play out and you know this this 50% retrace played a major role in that uh and what it is is it’s a a a sequence of Fibonacci right and it’s

Known as a harmonic pattern uh and if you’d like to learn more about these the harmonic Trader uh who created them uh has a website uh he’s got you know multiple volume sets that you know explain these I’m just going to kind of give a little overview of this specific pattern

Uh that we were looking at right here right so uh this was the I call it the January shark you know so it took place from that really uh swing low here we came up and effectively took the high from January 9th we came down we took the lows into that

38,500 uh and then you know main reason I was looking for that low to get reclaimed is essentially we’d look for that X level to get uh claimed and then you got a few simple targets from here uh one immediate Target does come in pretty pretty much at the B leg but the

Other thing is that when we come up to that 0.5 uh this has and and first of all this is a bullish shark so this is a bullish pattern right um obviously you see just like a falling wedge or a head and shoulders or anything like that uh

When when the pattern is being made you know maybe the price action is not the most bullish but upon completion that is a bullish setup right so just like if this was a falling wedge right price action would be coming down to complete the pattern you know so that would look

You know bearish it kind of scare some people but at the end of the day you’d be looking for a bullish setup right so uh that is uh exactly what happened here right so we got a nice bullish setup 05 was a target b leg uh back up here was a

Target uh the thing I was looking for around this 0.5 and the reason you know not just because I wanted it to happen but because there was multiple areas of Confluence here right so there’s a good amount of resistance we had all those you know things I outlined in the

Beginning of the video uh and getting a rejection at the 0 five had the potential IAL to turn this into what’s known as the 50 all right where you get the rejection at the uh 50% retracement and you continue lower so we did not get

That so for me I was building a short here I had a tight stop loss for a moment I opened it up a little bit uh but when we started actually claiming uh this region here I went ahead and just took the loss I got stopped out at like 1 and a

Half% um and the reason being is because even though the gold pocket was just above generally this pattern here if we get above that point five you blow through the gold pocket and the next Target is essentially the 886 of them Fibonacci uh retracements right so if we

Go ahead and tap that on you can see that that’s basically where we came into yesterday uh so you know now we’ve got basically one two three major targets of this pattern um basically it’s played out very well could get a reversal from here uh so something to be aware of we

Are consolidating down below here and the next major level to look for is going to be the one one three expansion so this is actually a 113% uh expansion of this move so meaning if you were to chop this section of the chart up and you put 25% 50% 75%

100% this would be 113% uh comes in just about like 50,400 I’m going to go ahead and turn this off and the one thing that’s you know interesting about that level is if we look back to uh our macro gold pocket from the overall uh 69k High

Right down to the low where we’ve pierced that at the 618 at the 49k high we can note that uh the 113 expansion comes in right at basically the outer shelf of this gold pocket so for me it’s it’s more of a Zone um you know this is definitely a

Big area uh to be paying attention for right so we looking for potential reversal here you know you could view this as a double top um you know there’s actually a new pattern that you know very well could start to play out here but you know won’t get into that at the

Moment just kind of looking at Targets as we come into certain levels um definitely just hit a major one potential to come up and actually take that high into the 113 you know we still have our quarterly pivot at 52k and and honestly if we start you know getting

Into this region here at that point I think it’s just short squeeze City once again uh and I feel like we probably go up to like 57,000 uh so that’s kind of the game plan right you gotta kind of have to be aware of that and for me I’m not like

Aggressively trying to just short everything on bitcoin I am obviously looking for good trades uh I did take the long here I closed it right at the 05 I went short I got stopped out I actually flipped long right at 45k so right at it wasn’t a great entry um for

This reason right because you were basically I basically bought right into resistance but because of this pattern at play um I took that chance right so uh it was long win stopped out on the short flipped long here took profits at the 886 uh and now I’m actually looking

For another short opportunity right so um that’s on bitcoin if I don’t get it then whatever I’m I’m more focused on the altcoins at the moment anyhow uh one thing I do like about this move up at a Bitcoin is that I feel like it this

Could be the little bit of fuel we need to get a move up out of ethereum and the altcoins uh as you know I’ve been anticipating a pretty nice move out of the altcoins and ethereum up to like potentially 3200 um and that time frame

Has been q1 and you know it’s it’s been a little bit of a a hard uh not a hard like game plan I guess but like you know overall I do anticipate Bitcoin to come down into these levels you know you know whether it be you know this is the next

Little lower high right we got our new lower low maybe this is our lower high and we come down you know maybe we actually come up and take the high regardless I do anticipated us coming down here at some point and when we were living in this region if we were going

To get that 5 type of pattern to play out out it probably would have already began uh and it’s hard to picture ethereum going up 20 30% when bitcoin’s getting a pullback right because we generally don’t see that uh so it’s kind of like one of those things where you’ve

Had to have i’ had to have certain uh areas where I’d be paying attention for um so anyways Bitcoin just as as clear of a a setup I guess or as clear as Direction I could give here um we’re in major resistance potentially up to 50,400 into 52 I know that that’s a

Pretty wide area there um but overall I am still looking for you know some short opportunities here out of Bitcoin here if we start to live above this region I think we’re you know I think we’re going to see 57 and that’s just as clear as it

Gets right so we’ve got the what I what I what I want to point out the most is I know everybody gets into the whole like oh it could go up it could go down very well could but you you are at some very key levels here and just like this key

Level right instead of trying to short here and just getting annihilated here I I shorted right into key resistance and I had a very tight stop loss so yes I lost that trade but I did not lose much I didn’t lose any sleep um and I was

Able to adapt to the next move right and that’s kind of where we have to be right now so we are at key resistance we are in potential reversal territory and that’s you know kind of how we have to to line this up could this be the area we top at and we

Reverse from absolutely uh could we push up here you know there’s there’s a case for that and makes makes sense right on a technical base um but yeah that’s what I’m looking for I do still Target down into uh these lower areas here and I know I keep pointing all the way down

Here but you know 35,000 is a big one 38,000 um and then honestly I do I do see us kind of coming down into these levels at some point but uh yeah as far as the next week of price action here that’s what I’m looking for out of

Bitcoin you know do we push up potentially is this the local high here as a next um lower high uh there’s definitely a pattern that has played out and the case is there I don’t have to get to the 113 right but if we start leing above the 886 that’s where I

That’s where I’d look to um so yeah that’s that’s kind of the outlook on bitcoin is that you know I still look for a potential pullback area maybe range a little bit in this region but what’s more exciting is the ethereum chart right so um into the last few

Weeks not as much uh price action has really unfolded right as compared to like even Bitcoin even still on these last few weeks but we were looking for a move into this region right the gold pocket weekly naked point of control uh obviously we came up and tagged that

Perfectly so for me I’m looking for dailies I’m on the daily time frame actually right now I’m looking for daily closures which we’ve gotten one we might just get about two I’m looking to keep Above This yearly high from 2023 20 uh4 $2,452 and at that point I’m looking up

Right so uh I do see uh a potential move up to about $3,000 right and potentially even up to 32,000 to 30 I’m sorry 3,200 to 3500 uh that has remained my Target and um yeah we’re going to continue uh to just kind of trade that that that way right so I

Did have a leverage position that I did close out at this target here my spot holds however from 1,200 I’m still holding for those higher levels there um looking for a new position in as the coming week comes you know maybe we come down and we back test you know this uh

Overall 23 High maybe we come back down to this region here and get a little bounce um you know not saying we can’t go below this region for a little bit I just want to see like some material closes above and continue above right so uh Wicks below during during a day which

Could be an entire day basically and as long as we close back up in this region is what I’ll be looking for uh for that move up so uh I’m in from lower so these little small moves won’t won’t matter I’m out of my leverage position so I’m

Not worried about a pullback at this moment and I’m looking for a new entry you know if we get it around these regions all right the flavor of the week is ethereum classic so ethereum classic tends to be a really good mover when ethereum is moving right so I’ve been

Tracking this really high time frame range here dating back to January of 2022 you could almost um you know consider this if you’re you know pattern Trader at all you know there’s a potential uh Adam and Eve you know double bottom you know maybe in the making here uh you got a

Rounded bottom uh however you’d like to view it for me I’m looking at the range right we were deviating down below had the yearly uh level down here it this does have an asterisk but it has been met and you know we came back in and we

Living back within this range so uh got a gold pocket that’s you know just above at $34 you’ve got an untapped yearly level here we have a monthly naked point of control here as well as the uh point of control from this overall uh range here and um yeah just looking for

Potential just range rotation at the end of the day obviously we got some speed bumps along the way here uh this would be a pretty decent move like 70% probably would have to go hand inand with with eth you know pushing up to like 30 3200 you know that’s only like a

Uh how far is that it’s probably like a third way more than 30 oh not way more give or take 30 35 so that makes sense you know we’ll see like double the gains at times on ethereum classic um so yeah that’s uh you know just something I wanted to

Point out you know we’re we’re definitely at some some low regions here you know maybe you come up and you make this huge cup and handle um but either way you know from where we are now I’d be looking to to ch that up not Chase

I’d be looking to trade this up I definitely not want to chase anything but yeah we even though this has got a pretty big expansion already uh off the low we definitely have flipped some support uh some resistance here into support uh and I’m looking at to change

You know challenge this higher I guess so uh gold pocket up in this area like I said yearly area as well 34 uh $34 so 30% move not bad uh and then potentially run the whole range up to like $44 and then we’ll reevaluate all right I hope you all enjoyed uh this

Saturday edition here of the crypto Insider you know I try to bring you all the most uh timely updates on the crypto Market obviously Bitcoin ethereum to me I think are the most important to just kind of overview there’s a million altcoins out there so um usually when we

Can track and have an idea of where Bitcoin and ethereum are heading we’ll get a better idea for some of the other altcoins maybe put some risk on for that uh or understand that maybe you know we should be anticipating pullbacks in the market but um yeah hope you all enjoyed

This uh I look forward to putting uh together another episode for you next Saturday if you have any requests uh for what the flavor of the week or what the additional altcoin you’d like me to cover uh please leave that in the comments let me know your feedback uh

And until then I’ll see you next Time