Gareth Soloway: “Bitcoin Going to $12k.. But Then What Comes Next Will SHOCK You!”

In this next bull market where do you See Bitcoin what's the range you see Bitcoin topping we could potentially be Looking at the next cycle High the next Bull market high right now for me as a Technician I'm going to start to Accumulate heavily on ethereum if you Know what a good Trader will change Their view based on what the charts and The data is telling you today I Interviewed trading expert and 20-year Veteran Gareth soloway and we discuss What comes next for Bitcoin what's your Next price target for ethereum is the Housing market about to crash but before All that Gareth what are your thoughts On the state of investing today in General yeah so I mean in in general you Have the stock market that's had a Really a tremendous run since October of Last year it's starting to show cracks Though right Apple missed earnings or They fell on earnings uh nvidia's kind Of been holding up the market You could Argue Microsoft's kind of rolled over We've seen Bitcoin and crypto start to Kind of come down off of its recent run And so these are things that I do pay Attention to and it's momentum that's Stalling out and eventually you run out Of buyers right so so at some point you Have to have a correction the question Is is it still within the bear Market or Is it a bull market and that's really

What we're trying to figure out now you Know when I look at the charts I look at History history is really what gives me My basis and if we go back to past Cycles on bitcoin it wasn't unusual to See a 100 or more bounce in Bitcoin even Within a bear market so it makes me a Little skeptical Um I also think that price action is one Of the best indicators and what we can See here is this was the BlackRock spot ETF news and it had a big move and it Couldn't break out Above This 31 32 000 Level we then got the news on Ripple the Ripple winning the case or or Predominantly winning the case against The SEC it stalled and couldn't break Out we then just recently got the news On gbtc the the judge found in their Favor and it popped and we've done a Full retrace already ready so to me when I view that it's price action and and It's telling me that the bounces or the Pops are getting sold into still and That's a warning sign at least in the Near term If you zoom out a little I'm seeing Higher lows I guess we just broke that But is that signify the break of the Broader Trend you're saying yeah so in The near term right so there's bull Markets within bear markets there's what We would refer to as micro Bulls within A macro bear the macro being the big

Micro being the bull and so there's no Doubt that we've been in a micro bull Market with a low high or low higher low And even here we still haven't taken out This low yet on bitcoin so you could Still technically say it's a higher low If we turn around here so that in just In terms of technicals this is something A huge thing that I'm watching is do we Take out this 24 800 to 900 level and actually make a Lower low now if we flip over to the Ethereum Chart real quick one of the Things to to note is that ethereum did Make a lower low here's your last low And here's a lower low so we see that as You go further up the risk curve meaning That ethereum is riskier than Bitcoin You know polygon Solana on the rest are Riskier they've made lower and lower Points versus Bitcoin is still barely But it is holding on to those higher Lows in the market so it is interesting To see that So what are your next price targets for Bitcoin Yeah so so what we had here was we had This little bearish flag pattern which Then ultimately failed and we saw a Beautiful pop on the back of that news Now the fact that we've come back in and Retraced is not a good thing right Generally after a pop you look for Sideways consolidation which is known as

Bull flagging it's essentially building Energy before the next move when you Come down like this it tells me we're Likely going lower so in the charts it Tells me 24 8 25 000 is your next Support level if that can hold we want To see it bounce and start to kind of Bounce up and make new short-term higher Highs again if that fails then you're Headed to 20 000 and if that fails then We're heading back to 15 7 15 6 area so So right now as a technician and I think This is important to say is that you Have to stay kind of neutral whatever The charts telling you that's the Direction you go you have to respect Support so I respect 25 000 but if it breaks then right away I Go to that next Target of 20 20 000 as a Target price on bitcoin Let me ask you a big picture more Thought-provoking question again a Different Traders would have different Answers but I guess this is just Specifically for you this first part You've told me in past interviews we've Done on the channel That the thing that Would get you to change your mind a Little earlier in the bullish direction Is if we got positive regulation now in The last few months we saw Ripple beat The SEC we just saw grayscale beat the SEC if you know as a investor I want to Be thinking six months down the line not

Necessarily investing where the markets Are today but where I think they'll be In six months isn't that the turnaround Yeah so so you're partially right in That so the news we've seen and I want To be clear for everyone watching is the News is fundamentally really good for Crypto and Bitcoin right so these are Wins for for Bitcoin and crypto overall They don't change the short-term fear And greed factors which are what Technicals are so technicals will give You the short-term move wins like we're Seeing with the SEC give us the Fundamental backdrop of the Strengthening crypto market and so once We get through this and we do get firm Regulation and we know what is a Security what's not what do these Regulators are asking for Um how is Bitcoin going to be regulated If at all and then is it is it become an Asset that you know Pension funds hold On there on their investment sheets so These are all things that whether it's Six months or 12 months or 18 or 24 Those will be really good drivers of the Next bull market but in the short term There's this disenchantment with Bitcoin And crypto where people honestly you Know every time they're buying these Pops on this good news there getting Burned and so there's this almost like a Kid touching a hot stove where you touch

It once ow you touch it twice Al you're Not touching it again until you see Something bigger occur here and I think That's what's going on here is that you Just don't have a lot of participation There's obviously the crypto Twitter Group who's going to be hardcore Regardless but we need more than that to Really Turn Around price action at this Point And macro is still a huge the the waves Of macro is still affecting crypto in a Big way so thinking of those other Markets the stock market at the housing Market gold I don't know what I guess Concerns you the most or what are you Looking at yeah so I mean the the Housing Market's insane right because It's basically Frozen Um we had a situation and this I find This fascinating because I don't think It's happened in history where interest Rates went up so fast that people that Were in three percent mortgages it Wasn't enough time where they had a Chance to get a four percent and sell Their current house and get a four Percent mortgage which isn't such a big Difference they went up so fast that Those people aren't going to sell their Homes and flip into a seven to eight Percent mortgage and then on the other Side prices have stayed so high and Interest rates have soared that everyone

Else who wants to buy a home can't Afford a home and so you have these two Sides and no one's meeting in the middle To create a transaction and that's Really what we look for with markets you Have to have a buyer and seller willing To meet in the middle and there's not That going on right now so you have a Stagnant Frozen housing market then you Have a backdrop where we're starting to See a little bit of weaker economic news Maybe so maybe the FED will stop hiking Rates but the question is is inflation Too high that they can't lower rates and That's what the market wants that's what Bitcoin wants is that they want that Free money flowing again to really get Their Mojo going and it's it's debatable Whether or not inflation will be low Enough for them to do that and so There's a lot of things going on here You know economically fundamentally that That are creating issues for Bitcoin and One of my fears is could Bitcoin Actually make a new low and I would I Would say that fundamentally bitcoin's Only getting stronger so you normally by Looking at the data and what we're Seeing in the news you would say no but Then you go and you say okay well what If we enter a recession and that Recession causes the NASDAQ to fall 30 Or 40 percent does Bitcoin is Bitcoin Able to hold up in that environment and

I would argue that fear and panic are More pervasive than fundamental news as We're seeing by these recent pullbacks After these news and that would make me Nervous that we still have the potential To make new lows on bitcoin before the Next bull market starts So your message is guys I know bitcoin's Been rallying for the first half of the Year I've been saying 12K is a Possibility forever it's a possibility I Was right it's happening as I predicted Is that your message well I'm not right Yet because it hasn't happened but but I Would say that it's still very much on The table even though fundamentally I Think the news has been amazing for Bitcoin and it strengthens the long term So basically everything I've seen in the News tells me that bitcoin's here to Stay and it's all and the price will Eventually go up so if your time Horizon Is three years five years ten years like It this is a rounding error at this Point whether it goes to down to 15 Again or 12 or whatever it may be you're Not going to look back and care whether You got in here or not if you're someone Like me who's a Trader then you're much More concerned with 10 15 20 moves in Bitcoin because you're looking to trade That Speaking of a recession which could take All markets down especially crypto do

You think we're about to see a housing Market crash comparable to 0708 because Like you said the FED is essentially Killed both the supply side and the Demand side Killed the market so so I do think I do Think when things unfreeze it's going to Be nasty and and the reason I say that Is because when things unfreeze it's Going to be because of a couple things Number one if you look at how many People own multiple properties that got Into the Airbnb game so as soon as the Economy weakens and they're not paying Their mortgages by renting their airbnbs Because the economy is too weak people Aren't doing that anymore then those Houses are going to go into foreclosure And once they go into foreclosure and The economy weakens interest rates will Come down and everyone who is who wants To move out of their three percent Mortgage house which again remember People don't it's not that the mortgage It's not that people don't want to move Right now they just can't afford to they Can't flip us three percent into a seven Or eight percent so as soon as those Mortgages come mortgage rates come down There will be a flood of people that put Their houses on the market trying to get Out and that will create an excess Demand and you'll see it collapse Now is It going to be as as deadly as what we

Saw in 070809 probably not at this point But the commercial real estate that's Another story that is a horrendous mess And I know you live in in LA and and you See what's going on there with with big Companies moving out and Office Buildings empty there is a lot of dead Weight on these Banks balance sheets Because of that 100 in La there's no More better bigger example Um can we look at the charts either Bitcoin the stock market whatever but Give me sort of a timeline if this stuff Were to happen where do you see these Lows happening Q4 q1 one Yeah so so for me at least when I'm Looking at Bitcoin is is I do believe That we'll probably test 25 000 in the Next week or two once that breaks you're Probably within a month of testing 20 And then I would say by year end you're Testing your fifteen thousand seven Hundred level so we're really not that Far away I think three four five months Maybe early 2024 from retesting these Lows once we get to this point and You're already seeing it right so bear Market bottoms they bottom when people Get burned so many times that they throw In the towel we're not there in crypto Yet but you're starting to see where These good news pops occur and then we See a flush that's really hurting the Psyche of the investor and that's part

Of what a bear Market does to break your Will to make a bottom so I think by the Time we get down to these fifteen Thousand-ish lows and we break that that Should really be the culmination final Dump out whether we get to 12 whether we Get to 10 I don't know but ultimately I Think the bottom is probably put in by Early 2024 in Bitcoin and then we'll Have to see if the house the the having Starts to have that impact where we Start to see it go up what do we see About that but but yeah I think that That for me is really important and then If we look at the s p here the S P 500 Is still relatively near its highs right So here's your 2022 highs in October and Look at the rally we've been on but one Thing I've noticed is that we're Starting to we had a bigger pullback Here we still have a higher low so here Was your last low this is still Technically higher so that's bullish but My guess is we're going to start to roll Over and actually make a lower low and I Expect the stock market to start to pan Lower as well and actually I think by The first second quarter of 2024 we'll Be at these lows in October and that's Really where that culmination of the Bitcoin lows and the stock market lows Could come together And we brushed over ethereum you Mentioned it can we look at Price

Targets for eth2 because like you said So yeah so let me just go into this this Chart here on ethereum and what we could See is ethereum still holding technical Support right around 1600 to 1650 is Still support it pierced the low which Made it lower low but it still bounced Back above now if you take that lower Low out and you take out this area You're headed down towards 13.75 and Then ultimately you're headed down to About 1100. now interestingly enough I Want to show you guys this there's a Head and shoulders pattern here on the Chart of eth right so we have a shoulder Here Here's your head Okay and here's your other shoulder now Your break point this white line was Your neckline which broke and that Kick-started a move down that will Culminate I want to show you this Because this is really cool you can Actually calculate your Target on your Head and shoulders so how low should This head and shoulders fall you take The highest point of the head drop a Plumb line down right to the neckline so It's 665 points and from the break point Where the neckline gets broken you do That same drop 665 points and basically you're at this Target down here so for me as a Technician I'm going to start to

Accumulate heavily on ethereum if if I Say if because there's no guarantees in Trading but if we get down to the Completion of this head and shoulders Which is what should happen here I'll be Accumulating right around 1100 quite Heavily on ethereum And what if you're wrong because I feel Like around 20K everybody's expecting Lower lows and we rallied this first Half of the year so what happens then Yeah so that's a great question so what You do is and let's just go back to Bitcoin so there's very much defined Levels on bitcoin so for me this was the Line in the Sand that I talked about Even maybe when we talked last we were Talking about this 31-ish level if we Get above that then I think that's it That's the culmination saying that okay This is a new bull market but as long as We stay below this level which was Rejected multiple times then I think for Me at least I'm in the camp that this is A bear Market rally versus a bull market New bull market In our final few minutes I want to look Into next year past the having because As you know as you mentioned that's a Huge Catalyst cuts the supply faster Than half In in this next bull market whenever That is where do you see Bitcoin what's The range you see Bitcoin topping wow

That's a great question so so for me I Would I would tend to look at trend Lines and going to trendline analysis And I mean if we talk next bull market We're talking fully regulated everyone Is singing Kumbaya even the SEC which Seems unlikely but I think it will Eventually happen and I think that you Have institutions like BlackRock and and Hedge funds and Pension funds they're All moving into Bitcoin as part of their Portfolio it's going to be considered Part of the Diversified portfolio having Said that I think what you do is you Take this trend line here from the high Of os of 17 to the highs of the 2021 Market and you start looking and saying Okay that might be a good Target price Of where price could go so if we just go Like this and can extend this out a Little bit more we could potentially be Looking at the next cycle High the next Bull market high right now is around 90 000 but I think very likely by that time This line is a little higher it's up Sloping so it's probably around 100 000 At that point Yeah man that would be wild yeah and This is by the way just to say this guys A lot of people say oh Garrett's a bear Or whatever but like I just follow price Action right it's just like it's me just Looking at the chart and the chart tells Me with slightly good better

Probabilities than not which way things Gonna go so you know again when we get In that bull market I'm gonna be a Full-fledged bull when the charts tell Me to be a bull it's just until then I Have to remain skeptical And by the way going off that I heard a Trader say once that respect trading is Not about being right trading is about Making money meaning adjusting your Position Um based on what the charts are telling You that's right and then I think that's Important a lot of people say oh well he Said this a year ago well you know what A good Trader will change their view Based on what the charts and the data is Telling them and so you have to be ready Anyone who stays stuck in their mode and Is unwilling to change will ultimately Lose out Final question Gareth and I want to take Trading out of this charts out of this Entirely more of a big picture just Getting to know you finish this sentence Oh boy I became successful when I Understood blank Wow so I became successful when I Understood work ethic and discipline and Ultimately when it came comes to Investing position size position size Was a game changer for me once I went From putting all my money in one Position and hoping and praying to make

A million dollars that's where I blew up My account it's when I started to do the Smart way which is diversifying that's Where I started to make real money I love it Gareth links for all your Stuff for down below by the way I love You and Ben Cowan on the no-shill Zone Thank you I'm a watcher um so I Encourage the audience to check that out But final thoughts for the altcoin daily Army wow all coin daily Army you guys Have great leaders in the two two Brothers here it's amazing Um you guys are awesome I know I get a Lot of love from your crew as well and I Appreciate that and I would just say um Remember crypto will have its day in the Sun again you know bear markets don't Last forever so you just have to weather The storm and again think about it like It building your your knowledge like This is the period to think and to learn And to understand so that you can Maximize the next full Market to your Advance