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Gareth Soloway: Bitcoin Bear Flag Warning — BTC $60K Target, ETH & XRP 2026

Channel: Gareth Soloway Published: 2026-05-21 12:15
Gareth Soloway

Gareth Soloway says Bitcoin has moved from bullish to neutral after reaching his 80k–85k resistance zone, with downside risk toward 60k if support breaks and upside back toward 97k if resistance is reclaimed. He is more cautious on ETH, relatively constructive on Solana if key trend support holds, and selectively watching XRP for a possible breakout, while emphasizing that crypto has broadly underperformed relative to equities.

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Detailed summary

Gareth Soloway opens by identifying himself as chief market strategist at verifiedinvesting.com and says he will review Bitcoin, Ethereum, Solana, XRP, and a few other altcoins. His core message is that Bitcoin is now neutral: he was bullish earlier when BTC was near 60,000, but after price reached his 80,000–85,000 resistance zone, he took profits, reduced crypto exposure, and is no longer in a swing trade on Bitcoin or ETH. For Bitcoin, he argues the market is trapped in a range between support and resistance. He says the “bigger macro bear flag” has not broken down yet, but if support fails, his minimum downside target is 60,000. If BTC breaks above the upper range, he says the next upside target is around 97,000. He stresses patience, saying that when odds are not clearly favorable, he prefers to stay on the sidelines rather than force a trade. On Ethereum, he is more concerned. …

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Main takeaways

  1. Bitcoin is back to neutral after hitting a major resistance zone around 80k–85k.
  2. BTC downside target if support breaks: 60k; upside if breakout holds: about 97k.
  3. ETH looks weaker than BTC and may be forming a bear-flag-style continuation.
  4. Solana is holding key trend support and is the cleanest relative setup among the names discussed.
  5. XRP is still technically interesting, but the broader crypto tape remains weak.
  6. He prefers cash/sidelines when the chart does not offer a clear probability edge.

Market read by horizon

Short term

Near term, BTC is a wait-and-see range trade with clear line-in-the-sand levels: loss of support argues for a drop toward 60k, while a reclaim of resistance would reopen upside. ETH looks tactically vulnerable, so the cleaner immediate risk/reward appears to be on the bullish side only if SOL and XRP hold their own support zones.

  • BTC is range-bound right now; the immediate question is whether it reclaims the upper boundary or loses the lower support.
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  • If Bitcoin breaks down from the range, he flags 60,000 as the first major downside target.
  • If Bitcoin breaks above resistance, he sees room toward roughly 97,000.
Mid term

Over the coming weeks or months, the base case is continued choppy consolidation in crypto until one side of the range resolves. Confirmation would come from BTC either breaking out above the ceiling or failing support decisively; absent that, he prefers reduced exposure and selective altcoin watching.

  • Over the next several weeks or months, BTC likely remains a trading range asset unless it cleanly exits the current band.
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  • A breakdown would strengthen the bear-flag interpretation and shift attention to 60k; a breakout would reopen the prior bullish trend toward the high-90k area.
  • ETH’s base case is weaker than Bitcoin’s, with trend deterioration likely unless it can stabilize and reclaim the mid-2k zone.
Long term

Structurally, he still treats Bitcoin as the strongest long-term crypto asset, but he is less confident that altcoins will preserve their historical leverage versus equities. The bigger regime question is whether crypto can regain its old outperformance profile or whether the market has matured into a more selective, lower-beta asset class.

  • He remains long-term bullish on Bitcoin as a core crypto asset, even while becoming tactically neutral in the short run.
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  • He is more skeptical of altcoins structurally, arguing that technology can shift and newer coins may outcompete legacy names on speed and features.
  • Crypto’s long-term regime, in his view, is no longer automatically aligned with equity beta the way it historically was; relative underperformance is now a key concern.
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Key claims (10)

MIXED crypto technicals Bitcoin

Bitcoin has moved from bullish to neutral after reaching the 80,000–85,000 resistance zone.

He says he was bullish near 60,000, but once BTC got above 80,000 his target was achieved and he turned neutral.

BEARISH crypto technicals Bitcoin

If Bitcoin breaks its current support, the minimum downside target is 60,000.

He explicitly states 60,000 as the low pivot target if support fails.

BULLISH crypto technicals Bitcoin

If Bitcoin breaks out above the upper range, he sees room toward about 97,000.

He states a high pivot target of 97k if the upper range is reclaimed.

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Assets discussed (6)

Bitcoin — BTC
MIXED crypto

Bullish earlier, but now neutral after reaching resistance; downside if support breaks and upside if breakout resumes.

Ethereum — ETH
BEARISH crypto

He says ETH is weaker, may be forming a bear flag, and he is not viewing it as an opportunity at current levels.

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Where this transcript pushes against consensus

  • The bear-flag thesis on Bitcoin is asserted from chart structure, but no stronger confirming breakdown is shown in the transcript.
  • The claim that crypto should usually outperform stocks by a fixed multiple is presented as a general rule, but no data series is provided here.
  • The idea that ETH is weakening because it did not bounce hard from support is plausible, but that interpretation is somewhat subjective.
  • The long-term skepticism about altcoins leans on technology change as a broad argument without specific project-by-project evidence.
  • The Rumble wallet promotion is adjacent to the analysis and may add marketing bias to the closing section.

Topics

Bitcoin technical outlookbear flag patternEthereum weaknessSolana support levelsXRP breakout setupcrypto vs NASDAQ relative performancerisk management / sitting in cashaltcoin structural skepticismregulatory catalyst: Clarity ActRumble wallet sponsorship

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