one thing I've learned in the history of 25 years of trading is that today I sit down with 25-year trading veteran Gareth Salway and so what we are seeing is Bitcoin is pulling back here and what I think is fascinating is that as he shares his short-term outlook for the Bitcoin price as well as long-term Outlook into 2025 watch today's whole video as Gareth also shares his 2025 ethereum prediction click the like button right now to support me and let's start Gareth remind us what is your experience with trading yeah sure so um I've been
trading since 1999 uh ages you know gives my age away a little bit there but but basically I started out just being fascinated by the dotc bubble um it was incredible I didn't have any money back then and so I I kind of played around with fake accounts and it was just incredible to watch how much you could grow a fake account or or a a paper trading account and it it kind of addicted me to trading and to the point where I said hey I got to learn how to do this I spent years
losing money um as most Traders do uh because you do everything wrong um slowly I learned uh I had to work three side jobs to uh to just replenish my trading account to be honest um once I was getting started but over time I started to learn that charts were the true way to figure out shorter term moves it shows you what the most probable outcome is and as long as you play it you essentially become the casino versus The Gambler and that's really what I've done now for the last 20 years or so um
so that's really the background there I I ran in themoney stocks.com for years uh which is stocks and then I branched into crypto and have verified investing.com now how much would you say Market sentiment or just narrative affects markets and then what is the sentiment this week yeah so in crypto sentiment is huge because it's a very emotional market so crypto is is a majority and it's slowly changing but it's been a majority of retail investors um and so emotion runs higher versus in the stock market you have these Mega institutions Pension funds and they'll
ground a market so it doesn't have crazy crazy moves but there's no doubt that sentiment is very very key and one of the things I will just say is that over the last week especially just the last few days in the crypto markets when you start to see some of these crazy moves like a 600% move in xlm um or cardano moving 3 400% these are things that as a Trader you start to pay attention to because they usually occur at the end of moves versus the beginning right and so as an investor as a
Trader I start to pay attention I start to look for opportunities in the short term for pullbacks interesting end of end of moves that's is that kind of like saying like when you get a fish out of the pond and it's the dead flap it's like the final few flaps before it goes dead is that is that right that that's something something I like the analogy there it it's essentially like so so money in markets tends to gravitate in uncertain times towards best of breed right so whether it's Apple stock or Bitcoin those will be
the first ones to go when it gets so easy that money starts flowing to like the the the crap coins if you will that's where people are just at that point pure gambling and it's showing that there's no real kind of Investigation or or knowledge being used it's just like hey I'm gambling let's try this this and this and people are making crazy amounts of money and historically that was the high of the dot bubble in 2021 we kind of saw that with crypto in many ways before the market and I don't want anyone to
unthink that I'm saying that we're heading into another bare Market I'm just saying as a shorter term Trader I'm looking for a pullback from these levels or a retrace to kind of cool the Jets of the crypto markets here let's flip to the charts and show us outlook for Bitcoin in the short term and as Gareth shows us the charts a few things to note about this interview number one we recorded this about 36 almost 48 hours ago I think when the bitcoin price was right around here so we're still in the same range but
something to note number two on Zoom the camera for our faces for some reason was coming in and out so you're not always going to see our faces you'll always hear us the audio is crystal clear and number three Gareth before we get to long-term shortterm what do you expect for Bitcoin yeah absolutely here let me bring up my Bitcoin chart and take a look and so what we are seeing is Bitcoin is pulling back here and what I think is fascinating is that we came up as high as about 999,000 and change right up
here and we're now seeing a pullback and just to explain what's going on here from a psychological standpoint is that you had a lot of people that were expecting last Friday even myself I was like hey I think we're going to break 100K here and it didn't happen and it didn't happen over the weekend and so what you had was a lot of kind of gambling money Pile in at 999,000 thinking it was going to break and now that it hasn't broken they're getting nervous and now as it down ticks that that kind of weak-handed
investor is starting to sell and it's causing Bitcoin to retrace and I think that's really important because I still think it's going to break 100,000 here I just think you have to kind of wipe out those weak hands first that kind of piled in Just For That Glory of watching the breakout above 100K so right now we are pulling back sentiment had gotten very very bullish everyone was gambling and thinking it was going to be 100K easy break so now you have to kind of wipe out those weak hands once it gets down you'll have
some support around 91 92,000 here my guess is it'll stabilize and then we'll start turning back up once those weak hands are kind of liquidated from the market and I think at that point this is interesting at that point I think not only do we Pierce 100,000 on bitcoin but I think money from the altcoin moves will start to rotate into Bitcoin and push it even higher than 100K now on a technical basis this is something I discovered it's it's the parallel channel that goes back to the high of 2017 so here's your bull market
high of 2017 here's your bull market high the first high in 2021 and exactly to the high the second high in 2021 now the way I tell if a line is important is I drop the parallel down and so what we can see is this lower line is a parallel right so I'm taking it down and notice how it perfectly interjects at this low and at this low and what that tells me is that this line has Credence meaning it has power because there's a there's an even parallel with that that kind of solidifies its
importance and so what I would expect is at some point we push back up Pierce 100,000 and we kind of go up to tag this upper level which is right around 107 to 108 once we get there then I think we get the bigger correction maybe back to 74 to 75 now where do I get 7475 from that's looking at this former all-time high right here that was in March and there's inevitability where markets tend to what come back to what I call the scene of the crime right so you had this level right here
we kind of chopped around we bull flagged here we broke out and there's this tendency to come back into that level here and then that's where for me that's where I'm a buyer like if you give me 74 75 I will buy hand over fist because usually what you'll do is you'll break out retrace and then you'll continue up much much more sharply so so at least to kind of game it out that's what I would expect from a technical standpoint and super quickly let's just understand the charting the expectation s Gareth just laid out
actually first off we were recording right around here and notice in the short term price did play out exactly as gareth's charts were predicting we fell down to around the 90 to 92 support level shook out the weekends now we bounced back and not that we can't you know chop around here for days weeks this can continue this can continue but then Gareth said he expects the Bitcoin price to climb to 108 before then correcting down to the 70s this next support So then my question is and so ultimately you're right there is a paradigm
shift I continue to be long-term crazy bullish on bitcoin I think it's going well above 150 maybe 200,000 or Beyond but I don't think that you're not going to ever get big pullbacks right historically we know Bitcoin has Corrections that can be as much as 50% or greater I think we'll get one that at least takes it back to 74 to 75 do you think 108 to 110 is that your 2025 cycle top expectation whereas 15200 the cycle top expectation in 108 would be the short-term top wow that's a really good question um so I
think I think over the next month or two 108 107 is my high with a correction back to 74 to 75 by end of next year I think there's so many things that are unknown that it's hard to predict for instance where's inflation because you know we're talking about massive tariffs which can be inflationary we're talking about other factors and if we start to see inflation getting out of control and let's say let's say Trump doesn't follow through on his doge project with Elon Musk and cut spending then there's you know like if they can
bring spending down and and the deficit starts to shrink then Bitcoin as a digital gold is less valuable to me and I'm not saying to everyone but it it's it's for me it's the offset of ridiculous spending in governments and Fiat currencies so the big question is does he come through on his pledges or do we just see business as usual in Washington and the spending just continue and the deficit just continues to balloon the more the deficit balloons I think the more Bitcoin goes higher and if it's that perfect storm then you can see
150 to 200 by end of next year yeah I think I think I mean again 200 seems really crazy but then again so did 100 12 months ago so so I think I think at least 150 is very realistic and I think if it really gets out of control then there's always a possible Maybe by 2026 you're at 200 and just for Traders in this market how much of the Trump inauguration on January 6th with uh Trump being the Bitcoin president do you think that could be a rally into a local top yeah I think
fact that's exactly what's going to happen right is so so investors are have bought this kind of idea that Trump's going to come in here and be you know so Bitcoin Pro that that it's just going to be amazing but the thing is this is that markets price in expectations right and this goes for stocks Commodities and crypto and so investors are pricing in this lofty expectation that he's going to name a crypto are that he's going to do this that he's going to create this reserve and that's what they're pricing in now so anything
less would be a slight disappointment and that's where you get that local top at 107 to 108 that actually could create that another reason not just stock market related but another reason maybe a little disappointment maybe he doesn't move as fast as the crypto investors want and that could bring in price so gareth's short-term projection for Bitcoin into the Trump inauguration on January 6th a run up to around 108 110 before a correction to the 70s and then top of cycle in 2025 150 how about ethereum and by the way anybody that wants to follow
along trade on their own I'll put a link down below for Marx I am in a long position right now but do not be afraid add the take profits definitely set the stop losses this is proper money management that everybody should be doing just remember it is dangerous in a sense to keep your coins on centralized exchanges so unless you're in an open trade take the coins off the exchange put them in cold storage and is now the time to invest in altcoins looking at Bitcoin dominance do you have any insights on to when altcoins
might outperform Bitcoin yeah so Bitcoin dominance this is a great chart here to take a look at so what we have here is a beautiful parallel that we see Bitcoin hovering in here so what this tells me here right is that when you see going back to 2023 June so basically a year and a half ago is that the highs and the lows are marked here and notice how right up here we kept on hammering hammering and it kept failing it got above and then it would come back below and then look at where we
are on bitcoin dominance coming back in so I think what's going to end up happening is the altcoins are still going to outperform Bitcoin in the near term which is going to bring Bitcoin dominance down here but then once you get down there you have to just go back to history and say okay this is where we're hitting this level we got to be a buyer back down here so I'm just playing like as a technical Trader I'm just using this parallel to say when to buy alts and when to exit alts and buy Bitcoin
um and final question there's an ethereum ETF as well meaning Wall Street investors can get some exposure to ethereum if ethereum you know that perfect storm happens and maybe ethereum outperforms Bitcoin what's your outlook for 2025 for ethereum yeah so the key on ethereum here on the charts is that we've been rallying up into to this little level so you can see this trend line right here and price hit it here was rejected it's now hit it here again and getting rejected if we get through this you have resistance at 3700 which is a trend
line from your previous 52e High here to your secondary high if for some reason we can get through 3700 I think then we make a run at the 4100 level and could actually go and retest the all-time highs of 4,800 but the key here is getting through anywhere between 3500 and 37 700 got to get through there first then I think the road is much clearer and it can take off and a 2X if we can clear it's alltime high that's nothing in crypto is that you know realistically you're a chart guy is a 2X
reasonable in a bull market it is reasonable it it absolutely is reasonable and and you could make a case here where if we look at this and we go back to our 2017 high and if we just take that trend line and stretches out that actually would be almost a 2X from here right you're going up to about 7500 from about 30 in fact it would be a it would at least be a 100 100 move here um percent move to the upside but that would be major major resistance the only thing I'll say and
listen I'm I'm more of a technical guy so I I can't say that I should be I'm not an expert but it does make me a little bit nervous that ethereum has underperformed as much as it has and I do wonder if salana is eating some of its lunch and that there's other alt coins that are starting to kind of nip at the heels of ethereum and that's causing it to underperform doesn't mean it can't go up you know 100x from here or I should say 1X or 2x right but I think again you just
have to be very aware that if there's competition competition like with Nvidia if there's more players producing these AI chips it's going to bring down the margins on something like Nvidia not to bring it to stocks but that can happen with ethereum versus Bitcoin is the Pure Play of digital gold right that's the way to play the 21 million Max coins that's the way to play digital type gold against currencies if you've made it this far in today's video click subscribe we drop one video per day keeping you informed also just announced my brother and
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