BITCOIN ABOVE $45,000 MEANS THIS WILL HAPPEN NEXT (analysis)

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Timestamps!
00:00 intro
02:45 bitcoin analysis
07:52 altcoins
10:00 traditional markets

Snipers, you have to see what’s happening

to the Bitcoin price this Monday as we
have broken the forty four thousand eight

hundred dollar resistance level now
playing inside of a range that has

a target of forty nine
thousand seven hundred.

I want to talk about Bitcoin
reaching this upside target.

But now that we’re above this 200 day
moving average and the 20 week moving

average, we can start talking about what
it would look like for Bitcoin to see

a extremely successful rescue operation
that could potentially lead us towards new

all time highs towards
the end of this year.

And the reason I’m saying this now is

because we are above the 20 week
moving average, which is home base.

And when you’re above the 20 week
moving average, anything can happen.

Notice how when we started to bounce
on this 20 week moving average

in September of twenty twenty one,
Bitcoin was at ten thousand dollars.

We stayed above the 20 week moving

average, bringing Bitcoin to the sixty
four thousand dollar level.

Or we going to see
the continuation of this.

That’s going to be
the primary topic today.

But I will be addressing the bears because

I’m going to talk to both
audiences on this channel.

And if we get the rug pulled on us,
what are the major support levels for us

to watch in order to say, OK, this is it,
we’re potentially going to just see this

get rug pulled to see
new lows for the year?

I’m going to talk about that.

I mean, the bears are important here,
but it’s exciting to see Bitcoin above

the 20 week moving average
in the 200 day moving average.

The curtains are not red anymore.

They could turn red again.

And that could all be determined this
week depending on how price action moves.

We’re also going to take a look
at Ethereum

still haven’t this cup of coffee,
not seeing as much strength as we saw over

the last few weeks, but we’re
above sixty five thousand Satoshi.

So Altcoins are still in a very bullish

trend, being the leading indicator
here for others dominance.

And we look at Bitcoin dominance still
rejecting the twenty week moving average.

This is a major puzzle piece,

but if we get above this 20 week moving
average, this could change things.

So there are a lot of things
we’re going to talk about today.

We’ll also look at traditional markets,

of course, because it’s Monday,
the DXY is pushing up.

This is a puzzle piece to talk about

for those that are bears,
I guess you can say because of the DXY

pushing up, that’s actually not
a good thing for other markets.

The S&P five hundred has yet to react

to that, but U.S. oil certainly has,
along with Gold.

And so that could start
to translate into other markets.

But Bitcoin’s above the twenty
week moving average.

So now we can actually talk about
what it would look like to see this rescue

operation successful will also
cover the total market cap chart.

At the end of this video, you guys are
watching the Snipers channel on a Monday.

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So just like we predicted,

Bitcoin had this cup of coffee yesterday
at forty four thousand eight hundred.

And I said this was an indicator to me as

an umpire that we are most likely
going to see this break to the upside.

And that’s why we got above forty
four thousand eight hundred.

Now, you can see we’ve already
tested it here on the 4-hour chart.

And I talked about my final line

in the sand yesterday being the forty two
thousand dollars level,

really the forty one thousand
nine hundred fifty, to be exact.

And I still want to keep my line
in the sand at this level because I

understand that we have
the monthly open here.

Yes, the weekly open is just above this
at forty three thousand eight hundred

with the monthly open at forty
one thousand five hundred.

But if we come down at any point to test

this weekly open and get below it,
I’m not going to be too concerned inside

of this pocket between the weekly
open and monthly open.

So I still want to have my line

in the sand at forty one thousand nine
hundred when it comes to

understanding the fact that this is
either a relief rally or a reversal.

And if it’s a relief rally,

my last draw is going to be this forty one
thousand nine hundred fifty dollars level.

But if we stay above forty two thousand

and forty one thousand nine hundred fifty
this week,

especially if we see the continued
strength right now to the upside because

we are heading towards forty nine
thousand seven hundred at this point.

If we don’t see so pressure come in,
this is the next upside target.

Do I believe we’re going to see
price action above this level?

That could be a possibility.

But what I really would
like to see is this.

If we want to assume the successful
reversal in trend on a more macro scale

being above the 20 week moving average,
we can talk about that.

We know the 20 week moving averages
below forty four thousand eight hundred.

And so the 20 week moving average actually

sitting right now at forty
three thousand three hundred.

So it’s actually gotten
so even below that.

So what I would like to see is

Bitcoin coming up to forty
nine thousand seven hundred.

And then if we see it slow down,

I just don’t want to see us break below
forty four thousand eight hundred after we

test forty nine thousand seven hundred,
because if that’s the case now,

we put ourselves above
the two hundred and twenty.

We.

Moving average, we see a garden variety
retest and then we could potentially start

talking about new all time highs towards
the end of the year for Bitcoin.

If we see this just rally from here,
I would be very surprised.

I don’t think about forty
nine thousand seven hundred.

Just rally out.

Now, here’s the thing, though. What is
the potential bearish scenario here?

Well, if this is just a relief rally

and we see the rug get pulled at this
point, is it smart to long in this range?

I wouldn’t say that’s the case.

Of course, for those who’ve been

to the Snipers channel,
we took tons of positions for Bitcoin,

Ethereum, Altcoins during the May to July,
pushed to the downside.

Since we’ve started seeing
the momentum bring us towards these higher

levels where the risk is a lot higher,
we’ve slowed down on the swing trades.

We’ve increased our trades.

And that’s kind of how you have to play
the market in a transitionary phase.

In a consolidation,

it’s the best time to determine those
more larger scale SPY positions.

But during these, you know,

these run ups to the top historicism just
pulled itself up and getting excited

on this chart during these
like pushes to the upside.

You know, those are really rare.

Day traders are most benefited
because of the consistent price action.

And so for the downside,
as I’ve talked about forty one thousand

nine hundred and fifty, I don’t want
to see this level get breached.

We have the one hundred day
moving average below it.

We have the fifty day
moving average below it.

But because we’re above the 200 day,

I just don’t want us to get too
close to this monthly open anymore.

If we start to break forty two thousand,

we could see a lot
of cell pressure come in.

We don’t know.
This was a strong move to the upside.

So if we see some pressure coming in,

we break this level at forty one
thousand nine hundred fifty.

I think that there’s still a potential
that sea wave that we talked about two

days ago could happen where Bitcoin
does see further lows for this year.

And I have to put the scenario
on the table, regardless of the fact

that these currents have changed just
because of what’s happening to the DXY.

And then we’ll look
at other revolving parts.

But this is my line in the sand, and I
think that that’s a fair place to put it.

At forty two thousand.

It gives us a lot of room
to be more confident in exiting a position

at this level because we’ve
had so much profits already.

And so it’s been very nice
to ride this move to the upside.

I just don’t want to see forty two

thousand break at the monthly
open at this point.

So that’s what I’m watching.

If it doesn’t break,

then the preferred scenario is we come up
to forty nine thousand seven hundred so

that we can at least see
some cool down here.

We get to test forty four thousand eight

hundred as a support now
that we’ve broken as resistance.

That’s really what I’d like to see

for the most healthy reversal in trend
that could possibly be on the table.

So we look at Altcoins.

I do believe that we’re going to see
outperformance here with Altcoins just

based on how Ethereum has acted
in over the last few weeks.

Just because we’re seeing it slow
down today doesn’t mean anything.

It’s still extremely strong here,
heading towards thirty four.

Fifty four.

I think this is very likely at this point
here to see Ethereum see some upside,

especially with this move for Bitcoin
about forty four thousand eight hundred.

So expect it there to move up.

Expect this 86000 Santoshi level to come

into the equation as long as we
stay above sixty five thousand.

So Tosches and I just
got to put it like that.

Right.

So is it time to get into swap
positions for Ethereum?

I don’t know.
We got our positions in when we had those

very nice injuries
at seventeen seventy 1760.

So, you know, getting positions
in while the risk is this much higher.

I don’t know if that’s the best case

scenario after what we’ve seen
over the last few months.

And so the total market cap, though,
I do really like what I’m seeing here.

We’re above the twenty
week moving average.

You’re already acting as a support above

one point seventy eight Trillion,
which is also major resistance.

We could just see a massive push to two
point two five nine Trillion total.

And then, Stephen, new all time highs
for the total Cryptocurrency market.

And this would translate more
into Altcoins than it would into Bitcoin

if Bitcoin numbers does not get above
the twenty week moving average.

So we will look at Bitcoin dominance,

but if we see this push back down,
I’m not concerned as well because now we

have so much cushion here to see sideways
price action that it’s going to be fun

to trade Altcoins during a sideways
move for the total market cap chart.

But even if it goes further up,
that’s even more exciting.

And and really what I’m going to be
monitoring here is the other’s dominance

and Bitcoin dominance,
specifically with others dominance

tightening between the fifty
in the 200 day moving average.

This could either push up or push down.

And a lot of this is going to have
to do with Bitcoin dominance does.

And so on the weekly chart, we are coming
back to this 20 week moving average.

We need to monitor this
potential reversal and trend.

If this breaks above,

then it could be wise to look at Bitcoin
over Altcoins in the next few weeks.

That’s all going to be determined on this.

Chart and I want to pull up
the Gold to Bitcoin chart before we get

into the traditional markets,
look how crazy this is.

One of the Gold to Bitcoin chart
broke down from its 2017 lows here.

Notice how this was in twenty seventeen

where the value of Gold to Bitcoin
found its bottom.

And this was the bull market of 2020
and twenty twenty one for Bitcoin.

And then we saw when this broke up,

this was the top four Bitcoin here
at the end of April, the start of May,

where the Gold to Bitcoin chart moved
above the 50 day moving average.

That’s how we called
the top on this channel.

And then we came up form this ascending

triangle, almost like a cup and handle,
and now we’re breaking down.

This is very nice to see for Bitcoin

confidence as a store
of value against Gold.

This is good.

So I wanted to just show you guys
that because we monitor this for a long

time and now we’re getting
a confirmation that we’re breaking down.

Here is why I am still concerned and I do
have to talk to the Bears on this channel.

The DXY is pushing above ninety
two point six to right now.

It looks like it wants to head towards
ninety three point eighty two.

Yes, we’re seeing upside in the Crypto
market, but we understand the macro

correlation between the DXY and
the Cryptocurrency market is inverse.

So the short term price action is
determined by traders, but the macro

trend is determined by institutions
and this is really what matters.

So why I want to point this out is when
the DXY bottomed out in January of twenty

eighteen, this was the end
of the bull market for Crypto.

This is when Bitcoin hit twenty thousand

in twenty eighteen and then
the DXY pushed up.

Right.
So there’s an inverse correlation here.

You can see in twenty eighteen when
that happened, Bitcoin came down.

Right.
So we have to monitor this and not keep

the short term traders in mind and really
look at the macro here and realize

that we’re at the same area
for the DXY value where we topped out

in twenty eighteen and we’ve already
seen this double bottom formation.

We’re above the twenty week
and fifty week moving average.

So we’ve already seen
a reversal in trend here.

And so this pushing up further.

That could be the last straw
for the Crypto market.

What if this is just
the laughs relief rally.

It’s on the table, you know, so I’m just
going to put it on the table like that.

And then we look at the effects
of this already on US oil and Gold.

But it hasn’t happened to the S&P.
Five hundred.

So that’s what we want to monitor.

When is the effect going
to take place in the S&P?

Five hundred.

It doesn’t look like it wants
to SPY looks really strong.

But remember, the short term price
action is determined by traders.

The macro patterns are
determined by institutions.

And with that being said,
I appreciate each and every one of you

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I appreciate each and every one
of you tuned to the channel.

I hope you enjoyed today’s analysis.

And I’m really excited to see if this is

going to be the true rescue operation
that’s going to be successful for Bitcoin

to potentially get us back into this
extremely bullish rally

that’s going to be determined here in the
next few days into the next few weeks.

And it’s going to be exciting for those
that are tuned in the channel with that.

Thank you all for tuning in today.

Until next time Snipers out.

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