IS CRYPTO ABOUT TO CRASH AGAIN?!! Should I SELL or HODL Ethereum Now?!! Why is Solana dropping?!!
Only today, im talking about a crypto update, so we have bitcoin, ethereum solana, polygon. I know that theres a lot of others out there, but the video is only so long theres. Just a few things i want to take a look through and uh. You know we really are starting to rally bitcoin prices, ethereum prices polygons also moving up solanas struggling ever since it got hacked. You know, even though its back up and running and uh, and you know, crisis averted its still something thats going to rock it in the short term, and even though i think that overall long term, it will recover its price. Its still struggling so were going to take a look at where were at with each of those cryptos, so bitcoin ethereum, solana and polygon, and just give a little bit of commentary on each one and where i think that theyre going next and where i think that Theyre, going over the longer term, so stick around and lets get ready to rock all right. Welcome back for those of you who are interested down in the description, i have my link to my patreon. If you want to join my community of investors over there, theyre uh positive, passionate people thats a lot of alliteration right there for you that that care, a lot about investing and theyre, always looking forward for that next financial opportunity and if youre one of those people, Then, by all means come over and join us wed, absolutely love to have you there also weeble moo moo.
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Token and then dont forget that for ethereum that we have that merge with the between the main net and the beacon chain, switching over from proof of work to proof of stake, which i think is going to be a major price catalyst moving forward. I think well ill get to more commentary on that soon. Let me let me come back to that. I get excited to get ahead of myself, ooh cardano pushing close to 250.. I know thats not really part of this video, but i do like cardano all right. So solana, under 160 per soul token, and to me i think that um, you know when we look at trial, well see that i think that thats a decent deal right now. I think that solana has a bright future ahead of it, uh seoul being the spanish word for sun, you know kind of goes along having a bright future and dad jokes, and i do love myself a good dad joke all right all the way down here. Taking back over for spot number 21 by market cap, we have polygon, which was down in the dollar 20s recently and now is back up over uh that dollar 40 mark so uh polygon. We have the e and y news joining the big four one of the big four firms uh in the world, uh partnering with polygon and theres speculation that we could get some short term excitement out of that. But then you know theres still some concerns that go along with that as well.
That is something that keeps the price down in the future ill discuss some of those when we get to it right now, lets hop over to bitcoin, so looking at bitcoins chart. Let me zoom out a lot here so that we can see more of the price action that we have and we can see the the winter into springtime excitement that we had with bitcoin and then kind of retaking, this kind of lower slant line that we have. I dont want to make this video too long, so hopefully me tracing my cursor along that slant line is enough for you today. I do want to take a look more near term to see whats going on. So you guys see this drop that we have in the relative strength. So this would be a drop in momentum and if you look at the prices going up, what that is is bearish divergence and so that can sometimes signal a drop. And when you look here thats exactly what happened? Is that eventually, when we got close to that 50 line, going from bullish territory down to bearish territory, we started getting that drop, that we have right here. So we have lower highs. We have lower lows and then finally, the straw broke, the camels back was uh. You know what we had with the regulation in china: the crackdown that we had on the crypto mining practices that were taking place there, and that was enough to weaken enough that we get that sell off all the way through most of the summer.
And now we come back to a price rally which took our rsi way up and we have a little bit of bearish divergence happening again, where we have that drop in relative strength and the prices are going up with that big sell off day and thats. Probably, what accelerated this part of it a little bit now mind you. These tops are kind of even, and maybe without that, sell off that we would have seen that what will happen in order to refute this little bit of divergence that we have here is that we need it to climb up and when it does inflect down again. Well, either it climbs up and puts in a new high that will break the pattern or that when it does settle and we get a low that its not a new low, where we get more of a sell off, anything under 50 would be bearish. So you can see we went bearish for a little bit during that time. When we had that big sell off on september, the 7th, and now the momentums kicked back up into bullish territory. We needed to pick back up even more so that way we can see that rally continues. So, even though we have bearish divergence, which is a good indicator that were going to have a bearish reversal, it does its not set in stone. So really we want to keep an eye on the volume that happens here. We want to keep an eye on the news that happens, because these are things that can make that play out and if youre bullish on bitcoin, you dont want that sort of thing to play out.
Taking a look at whats, going on with ethereum there, we go ethereum didnt quite make it to three thousand seven hundred dollars per ether token. I think it felt like 24 shy of that on this most recent candle that we have here. The prices have a slow, steady climb, however, the rsi again showing that little bit of bearish divergence that we have going on honestly. This part right here, this big sell off, is something that may make it look like something that isnt actually about to happen. We do have a tapering off right now with the volumes that theres not as much commitment necessarily in these prices that its currently trading at so thats, something to watch out for im, not bearish on ethereum. As a matter of fact, ethereum is the one that im most bullish on that, i think is going to be one of the clear winners that we have within the next five years to next 10 years. When i talk about this possibly pulling back taking on a sort of bearish reversal for me that creates significant buying opportunities. I was in the crypto market a long time ago and i i did the mining myself um bitcoin litecoin dogecoin um. Well, i didnt mind the bitcoin. What i did was i converted the coins that i did mine over to bitcoin figuring. That bitcoin would be the leader there and well. I i stepped out of the game for a long time, and i didnt get back in until this most recent dip, when i saw opportunity figuring that we would recover – and you know catching at least a decent part to step into it.
So i got back into it this summer and uh really started closely following it and then i, since im on youtube now i also decided to start putting coverage out there for crypto as well and ill. Tell you what its a lot to do my homework, but you know its something that i i think is going to pan out really well and its going to return some pretty darn good gains that are going to outpace, that that we would find in the regular Stock market, so to me it makes a lot of financial sense and it is a small. It is the smallest portfolio i have, it might be a grower, but it is tiny for right now. I continue to dollar cost average and thats exactly what i would do. If we get a significant pullback in ethereum is that i would take that as a dollar cost averaging approach right now. I do little bits at a time and if i saw this pull back to 3000, i would take a bigger chunk if i saw it drop below 3 000. That would be something that you know i could buy even heavier on. Do i think that were going to have that bearish reversal honestly, i dont know that we have a lot of really good signals other than the bearish divergence that you see here. That september the 7th sell off is something i think accelerated. Some of this push that we have here, i think, without that i dont know that we would have put in a lower low down here.
I think that we would have seen maybe a slight rest in momentum before we carried forward beyond that. So i think that we do have a pretty clear shot to 4000 and im not saying its going to be straight there, but we might pull back a little bit, but maybe down to this little slant line down here. So maybe back down to 3 300. From here, so what would that be a little um just under or right, around the 10 drop? So those are those are my thoughts on ethereum, i think, overall, by the end of the year 2021 that were going to be at around 5000. I believe thats conservative and its bullish and its conservative and thats a lot my style bitcoin bitcoin, overtaking that 60 000 mark, i think, is way. Conservative and you know for end of 2021. I think its reasonable and anything beyond that is just gravy on my part. So i do think that the bull run is going to continue and i think, giving three months time when we can get astronomical gains or we can get huge losses. I think staying right in that wheelhouse bullish, yes, but with problems along the way, because the crypto market is still developing, it is still going to be a volatile space, even if its not as volatile as it used to be. I still think that were going to continue to see those periods. I think that were going to end 2021 on a strong note and i think its going to be a nice step into 2022, giving us good prices moving forward from there solana solana is finally settling people cant decide what the heck to do right now we have Some battle tested, doji candles in here and these narrow range dojis.
We could see some firm support showing up if either today or tomorrow, we get strong volume and a large body candle. That starts to reverse some of this, especially we get over a 50 retracement from where were at right now, which is about 158 to the top of this candle 192, so thats a difference of 34 so 17 up, so that would be about 175. So if we can break the 175 line either today or tomorrow on good volume, then we know that we have a good chance at the next leg up on solana and peoples. Confidence is shaking right. Now i mean it just got hacked and people dont want to lose their money. I think those are very valid concerns. The nice thing is is that we want these sort of tests early on in a cryptocurrencys life and for the soul token, and for solana itself to be tested in this way and find that point of failure and with their hackathon coming up. I mean this is honestly, in my opinion, its good timing, even if its bad news. This is the time that we want to hear it. We dont want this to be really established and have it globally launched where we have so much institution and enterprise and large investments. And you know we have very large sums of money in this and then all of a sudden it gets hacked and and locked up and forks everywhere. Um.
You know it doesnt. It doesnt sound like a good plan. So i think, solana, i think, is going to have a lot to learn from this and i think that theyre going to recover – and i dont think its going to take that long for them to regain that momentum. As a matter of fact, we could even treat this as a bullish flag pattern that we have going on right now. We have excellent volume along this flagpole sort of flagging to the downside, finding support between like 150 160 and then starting its next leg up where the front there, possibly taking us up to that 250 mark. So definitely watch solana, im gon na wrap this up. For you guys, with polygon here polygon, we have uh the hermes merger. We also have uh coinbase using the matic token for uh for its efficiency and for also its low transaction cost ernst young also joining it and um. You know these are absolutely huge movers and i think thats going to be something that moves it up over time. We have. If you look at the rsi like i was talking with bitcoin and with ethereum. This one actually looks pretty solid, for i dont know what you want to call it, but like here we have that that rise up – and here we have that that drop. So you see bearish divergence, but here we didnt put in that next high. I think that we got wrecked by this, so i dont know how much we can trust this in the overall pattern.
This could be one of those uh black swan events that comes in and knocks things down for a little bit so well see as long as we dont put in another low. If we stay above that 50 line, i think that were going to continue to march upward with polygon prices, and i think seeing that two dollar mark by end of 2021 is very reasonable end of 2022. I mean it really. It depends on how ethereum does you know the relevance that people see from matic once they get those transactions per second, one thing thats concerning about matic, the polygon network is, is centralization and its something that allows them to have really fast transaction speeds, but it does Put a hit against their security so its not that its without its problems, because if it was a perfect network, if it was the the pinnacle among networks that we have or a blo or among blockchains that we have well, then we would see pinnacle type prices. So theres reasons that im bullish on this. I think that theres a lot of adoption. I think that theres a lot of demand for thematic token and i just dont – think that were seeing the prices to really merit, or i dont see i dont well. I dont think that were seeing prices that reflect what matic is really worth for its current value and, i think, certainly end of 2021. We should most definitely be solid in the two dollar range and then up from there end of 2022.
As long as that strength continues and the adoption continues, you know we really have to watch that demand. Five dollars is not out of reach, i mean really again, it depends on what we see for the ethereum network and how far theyve progressed with their eth 2.0. With their proof of stake and with sharding how many transactions per second are they able to put through? So those are some things that i think about when i consider polygon. So let me summarize bitcoin ethereum solana, polygon. I think that they are all going to be taking up overall by the bull run that were on, and even though we do have some signals that we could possibly have a short term pullback in this. I think that it is something thats going to continue to rally and honestly that sell off that we had on september. The 7th, i think, is messing with some of our indicators a little bit and the rsi looking at a single indicator and putting too much emphasis into it, isnt necessarily the best idea. So it is something that im keeping an eye on im, also watching the volumes im watching the news, the different price actions that we have, and i think overall, that uh its almost a channel that we have on ethereum and its a bullish channel that uh its Keeping us locked, you know we have parallel lines, marching upward for ethereum, and you know those are thats a thats.
A very good thing. Solana, i think, is resting a little bit, but i think its also going to start its next leg up. Polygon polygon is also some people are, are calling an inverse head and shoulders pattern that were seeing and uh that we should see a breakout above the neckline sometime soon its above 63 mark so thats. Something else that you want to keep an eye out for so just to be clear: im bullish on every one of these. I have a very, very tiny position in bitcoin ethereum is where most of my money is. I have a significant portion of my money in polygon and i have a a um, a growing position in solana. I started that at seventy dollars per token and i dollar cost averaged at around – i think 160 and maybe 170. I think i added into that. So the gains dont look as big as they are, but my initial position has just as big a gains at this price, its just those positions that i added on to. They have smaller gains, and so, when you put those all together, the weighted average as it works out turns out to make it look like its less so which is kind of painful. But i say that to you, because when you, when you do add in a higher prices, because you believe something is going to continue to rise, that is overall a good thing. It looks like a smaller percentage, but its of more money.
So those are things just to consider just to keep in mind. So thank you guys for watching this. I really appreciate it its been incredible. Remember that you can always uh, you know, uncover your eyes just tap the like button subscribe button and notification bell to see anytime. More of my videos come out and thats absolutely enormous support, even watching this video all the way through wonderful support and then also dont forget down in the description. If you want to join my patreon and see more of what i have to offer over there with my portfolios newsletter watch list of stocks that i put out every week, then those are things that you can also check out. Moving on from there weeble moomoo, the referral links are also there, for you, sign up deposit, your money, get your free stocks, and then i get my free stocks thanks again for that sort of support. Last thing that i have for you is just an overall again.